Kane Family Foundation Inc
- Assets
- $34.8m
- Revenue
- $1.1m
- Investments
- $34.3m
- Employees
- 0
- Location
- Colorado Springs, CO
- Founding
- 08/2011
- Data as of
- 06/2023
- EIN
- 90-0689673
Organization Overview
Kane Family Foundation Inc is located in Colorado Springs, CO. The organization was established in 2011. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kane Family Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Kane Family Foundation Inc generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (10.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Kane Family Foundation Inc has awarded 75 individual grants totaling $27,405,207. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory L Johnson Co-Trustee | 0 | $46,200 | |
William S Corrigan Co-Trustee | 0 | $46,200 | |
Tad A Goodenbour Co-Trustee | 0 | $46,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,238 |
| Dividends & Interest | $583,225 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $485,609 |
| Capital Gain Net Income | $485,609 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,070,072 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $138,600 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $19,011 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,958 |
| Total operating and administrative expenses | $282,488 |
| Contributions, gifts, grants paid | $987,223 |
| Total expenses and disbursements | $1,269,711 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $472,902 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $42,840 |
| Total assets | $34,789,859 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $4,312,378 |
| Total liabilities | $4,312,378 |
Grants Awarded
Over the last fiscal year, Kane Family Foundation Inc has awarded $1,305,222 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF COLORADO FOUNDATION PURPOSE: SCHOLARSHIPS | $624,843 |
PIKES PEAK COMMUNITY COLLEGE FOUNDATION PURPOSE: SCHOLARSHIPS | $85,693 |
COLORADO STATE UNIVERSITY-PUEBLO FOUNDATION PURPOSE: SCHOLARSHIPS | $401,287 |
TRINIDAD STATE EDUCATION FOUNDATION PURPOSE: SCHOLARSHIPS | $24,424 |
LAMAR COMMUNITY COLLEGE PURPOSE: SCHOLARSHIPS | $39,585 |
PUEBLO COMMUNITY COLLEGE FOUNDATION PURPOSE: SCHOLARSHIPS | $73,319 |