Kenneth L Kellar Foundation
- Assets
- $1.2m
- Revenue
- $283.5k
- Investments
- $186.6k
- Employees
- 0
- Location
- Aitkin, MN
- Founding
- 04/1991
- Data as of
- 09/2023
- EIN
- 91-1425050
Organization Overview
Kenneth L Kellar Foundation is located in Aitkin, MN. The organization was established in 1991. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Kenneth L Kellar Foundation 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 09/2023, Kenneth L Kellar Foundation generated $283.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $345.8k during the year ending 09/2023. While expenses have increased by 3.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Kenneth L Kellar Foundation has awarded 80 individual grants totaling $303,871. 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
THE FOUNDATION PROVIDES LOW COST HOUSING TO RESIDENTS OF AITKIN, MN, AND CONTRIBUTES TO EDUCATIONAL AND ENVIRONMENTAL ORGANIZATIONS, RELIGIOUS INSTITUTIONS, AND LOCAL CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hugh Janzen President | 1 | $0 | |
Mark Packer Vice President | 1 | $0 | |
Fred Sjoholm Director | 1 | $0 | |
Michelle Geer Secretarytreasurer | 1 | $0 | |
J Bruce Smith Attorney | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4 |
| Dividends & Interest | $19,997 |
| Net Rental Income | -$24,348 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $151,779 |
| Total Revenue | $283,538 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $14,000 |
| Pension plans, employee benefits | $0 |
| Interest | $47,956 |
| Taxes | $53,008 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $202,686 |
| Total operating and administrative expenses | $317,800 |
| Contributions, gifts, grants paid | $28,000 |
| Total expenses and disbursements | $345,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,673 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $2,366 |
| 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 | $990,293 |
| Investments—mortgage loans | $0 |
| Investments—other | $104,364 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,235,937 |
| Accounts payable and accrued expenses | $9,630 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $626,093 |
| Other liabilities | $0 |
| Total liabilities | $635,723 |
Grants Awarded
Over the last fiscal year, Kenneth L Kellar Foundation has awarded $28,000 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
AITKIN AREA DOLLAR FOR SCHOLARS PURPOSE: EDUCATION | $5,000 |
AITKIN A TEAM BASEBALL PURPOSE: DONATION | $7,500 |
AITKIN GRAD BLAST PURPOSE: EDUCATION | $300 |
ST JAMES CHURCH PURPOSE: EDUCATION | $4,000 |
CUYUNA RANGE WHITETAILS PURPOSE: EDUCATION | $1,100 |
ALZHEIMERS ASSOCIATION PURPOSE: EDUCATION | $1,000 |