Klungness Family Foundation Inc
- Assets
- $7.8m
- Revenue
- $2.9m
- Investments
- $5.9m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 05/2005
- Data as of
- 12/2021
- EIN
- 01-0791882
Organization Overview
Klungness Family Foundation Inc is located in Wilmington, DE. The organization was established in 2005. 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. Klungness 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 12/2021, Klungness Family Foundation Inc generated $2.9m in total revenue. All expenses for the organization totaled $335.6k during the year ending 12/2021. While expenses have increased by 62.1% 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, Klungness Family Foundation Inc has awarded 107 individual grants totaling $562,689. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katharine T Alvord Dir, Sec | 2 | $0 | |
Kraig Klungness Dir, Pres | 1 | $0 | |
Nelson Sommerfeldt Dir | 1 | $0 | |
Barbara Klungness Anderson Dir, VP | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,809,477 |
| Interest on Savings | $742 |
| Dividends & Interest | $67,058 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $20,260 |
| Capital Gain Net Income | $20,072 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,719 |
| Total Revenue | $2,905,256 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,420 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,025 |
| Total operating and administrative expenses | $20,570 |
| Contributions, gifts, grants paid | $315,000 |
| Total expenses and disbursements | $335,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,805,583 |
| 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 | $280,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,754,441 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Klungness Family Foundation Inc has awarded $315,000 in support to 55 organizations.
| Grant Recipient | Amount |
|---|---|
Missoula, MT PURPOSE: THE WILDERNESS WATCH FOREVER WILD ENDOWMENT FUND | $50,000 |
Bolinas, CA PURPOSE: PROJECTS TO EDUCATE ABOUT THE EFFECTS OF DIGITAL TECHNOLOGIES AND ELECTROMAGNETIC FIELDS | $17,000 |
Teton Village, WY PURPOSE: GENERAL & UNRESTRICTED | $12,000 |
Ann Arbor, MI PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Missoula, MT PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Memphis, TN PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
Service Coordination Inc Frederick, MD | $19,156,790 | $52,158,150 |
Sarah Scaife Foundation Inc Pittsburgh, PA | $645,014,499 | $79,121,296 |
Prudential Foundation Inc Newark, NJ | $137,651,624 | $53,115,847 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
Aurora Foundation Wilmington, DE | $762,186,529 | $34,829,057 |
Segal Family Foundation Inc Warren, NJ | $106,923,735 | $21,683,461 |
Dietrich Foundation Pittsburgh, PA | $1,425,693,584 | $93,476,192 |