Klungness Family Foundation Inc
- Assets
- $5.4m
- Revenue
- -$258.9k
- Investments
- $3.8m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 05/2005
- Data as of
- 12/2022
- 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.
Since 2015, Klungness Family Foundation Inc has awarded 171 individual grants totaling $2,609,989. 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 | |
Barbara Klungness Anderson Dir, VP | 1 | $0 | |
Nelson Sommerfeldt Dir | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $9,985 |
| Dividends & Interest | $73,881 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$346,813 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,054 |
| Total Revenue | -$258,893 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,600 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,183 |
| Total operating and administrative expenses | $21,584 |
| Contributions, gifts, grants paid | $2,040,000 |
| Total expenses and disbursements | $2,061,584 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,682,595 |
| 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 | $100,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,433,964 |
| 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 $2,040,000 in support to 61 organizations.
| Grant Recipient | Amount |
|---|---|
ALBION COLLEGE PURPOSE: KLUNGNESS SCHOLARSHIP FUND | $400,000 |
ALMOST HOME ANIMAL SHELTER AND ADOPTION CENTER INC PURPOSE: GENERAL & UNRESTRICTED | $50,000 |
AMERICAN NATIONAL RED CROSS PURPOSE: GENERAL & UNRESTRICTED | $15,000 |
BARBARA KETTLE GUNDLACH SHELTER HOME FOR ABUSED WO PURPOSE: GENERAL & UNRESTRICTED | $50,000 |
BAY CLIFF HEALTH CAMP PURPOSE: GENERAL & UNRESTRICTED | $50,000 |
CALIFORNIA BRAIN TUMOR ASSOCIATION PURPOSE: GENERAL & UNRESTRICTED | $30,250 |