Jim And Margaret Krum Foundation Inc
- Assets
- $13.1m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Hilton Head Island, SC
- Founding
- 10/2010
- Data as of
- 06/2021
- EIN
- 27-1777206
Organization Overview
Jim And Margaret Krum Foundation Inc is located in Hilton Head Island, SC. The organization was established in 2010. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Jim And Margaret Krum 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 2018, Jim And Margaret Krum Foundation Inc has awarded 83 individual grants totaling $1,588,649. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE KRUM FOUNDATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE COMMUNITY FOUNDATION OF THE LOWCOUNTRY, INC. ("FOUNDATION"), A PUBLICLY SUPPORTED ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(1) OF THE CODE. A TRADITIONAL COMMUNITY FOUNDATION FOUNDED IN 1994, COMMUNITY FOUNDATION OF THE LOWCOUNTRY, INC. SERVES THE RESIDENTS OF THE SOUTH CAROLINA COUNTIES OF BEAUFORT, COLLETON, HAMPTON, AND JASPER. THE KRUM FOUNDATION WILL FURTHER ITS EXEMPT PURPOSES BY MAKING GRANTS DIRECTLY TO THE COMMUNITY FOUNDATION AND TO ORGANIZATIONS WHICH ARE, OR COULD BE SUPPORTED BY THE COMMUNITY FOUNDATION CONSISTENT WITH ITS OWN CHARITABLE PURPOSES. COMMUNITY FOUNDATION GRANTS ARE AWARDED TO ORGANIZATIONS THAT WORK IN A VARIETY OF CHARITABLE AREAS, INCLUDING ARTS AND CULTURE, EDUCATION AND YOUTH DEVELOPMENT, COMMUNITY DEVELOPMENT, AND HEALTH AND HUMAN SERVICES. ADDITIONALLY, BOTH THE KRUM FOUNDATION AND THE COMMUNITY FOUNDATION EXPECT TO
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S ADDITIONAL PROGRAM EXPENSES AID THE FOUNDATION IN ALIGNING THEIR FUNCTIONS WITH THE MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martin Cohn Chairman | OfficerTrustee | 1 | $3,000 |
Hank Noble Director | Trustee | 1 | $3,000 |
Emmy Rooney Secretary/treas | OfficerTrustee | 1 | $0 |
Wade Webster Vice Chairman | OfficerTrustee | 1 | $0 |
Beryl Lamotte Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $214,808 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,949,202 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,164,010 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,560 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,144 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $222 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $493,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $13,107,753 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,107,753 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $386,717 |
| Total liabilities | $386,717 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $12,721,036 |
Grants Awarded
Over the last fiscal year, Jim And Margaret Krum Foundation Inc has awarded $335,250 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
CLEMSON UNIVERSITY | | | $64,000 |
UNIVERSITY OF SC | | | $32,750 |
COLLEGE OF CHARLESTON | | | $23,000 |
Greenville, SC | | $15,000 |
Charleston, SC | | $14,000 |
MED UNIV OF SC | | | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Illuminations Foundation Inc Alpharetta, GA | $6,093,722 | $37,103,304 |
A J Fletcher Foundation Raleigh, NC | $168,653,502 | $53,698,336 |
Hollingsworth Funds Inc Greenville, SC | $393,513,843 | $12,387,637 |
Cf Foundation Inc Atlanta, GA | $60,851,215 | $5,130,874 |
The David Belk Cannon Foundation Gastonia, NC | $0 | $4,765,855 |
World Poultry Foundation Inc Tucker, GA | $28,014,565 | $2,601,293 |
Seymour Family Foundation Irrev Charitable Trust Uad 12-21-15 Charlotte, NC | $3,421,952 | $6,290,943 |
Waterfall Foundation Inc Atlanta, GA | $17,781,141 | $467,284 |
Charity Assets Trust Cumming, GA | $3,483 | $1,605,049 |
Stanley & Dorothy Frank Family Foundation Greensboro, NC | $39,060,672 | $2,145,860 |
Wtvi Foundation Inc Charlotte, NC | $160,743 | $1,470,825 |
Give Hope Inc Fort Mill, SC | $274,248 | $1,115,551 |