The Robert D And Patricia E Kern Family Foundation Inc
- Assets
- $718.0m
- Revenue
- $43.5m
- Investments
- $709.3m
- Employees
- 0
- Location
- Waukesha, WI
- Founding
- 02/1999
- Data as of
- 12/2020
- EIN
- 39-1923558
Organization Overview
The Robert D And Patricia E Kern Family Foundation Inc is located in Waukesha, WI. The organization was established in 1999. 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. Robert D And Patricia E Kern 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 12/2020, Robert D And Patricia E Kern Family Foundation Inc generated $43.5m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 25.3% each year . All expenses for the organization totaled $67.4m during the year ending 12/2020. While expenses have increased by 24.6% per year over the past 2 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 2020, Robert D And Patricia E Kern Family Foundation Inc has awarded 364 individual grants totaling $257,886,154. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
KERN ENGINEERING ENTREPRENEURSHIP NETWORK PROGRAM (KEEN) CONFERENCES - 2 CONFERENCES CONVENED AND SPONSORED BY THE FOUNDATION WITH A TOTAL OF 463 GRANTEES IN ATTENDENCE.
E&C PROGRAM NETWORK CONFERENCES - HOSTED 11 EVENTS IN 2021 WITH A TOTAL OF 512 GRANTEES IN ATTENDANCE
CREATION OF KEEN DIGITAL PLATFORM DESIGN AND MAINTENANCE FOR USE BY THE KEEN NETWORK OF OVER 4,000 USERS.
FACULTY DEVELOPMENT - 12 CONFERENCES CONVENED TO TRAIN FACULTY WITHIN THE KEEN NETWORK WITH 191 GRANTEES IN ATTENDANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rahn James C Director & President | 40 | $589,031 | |
Bode Kyle R Vice President | 40 | $314,481 | |
Senske Michael W CFO & Treasurer | 40 | $300,105 | |
Purvis Elizabeth Program Director | 40 | $248,451 | |
Stawski Christopher Program Director | 40 | $195,503 | |
Doug Melton Program Director | 40 | $178,203 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Franklincovey Client Sales Inc | 12/30/21 | $2,500,000 |
Pgim Real Estate | 12/30/21 | $402,203 |
Fred Alger Management Inc | 12/30/21 | $394,708 |
Fiduciary Management Inc | 12/30/21 | $304,677 |
Invesco Advisors | 12/30/21 | $313,364 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,990,683 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $32,756,095 |
| Capital Gain Net Income | $32,756,095 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $6,733,645 |
| Total Revenue | $43,480,423 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,159,192 |
| Other employee salaries and wages | $3,247,747 |
| Pension plans, employee benefits | $1,323,455 |
| Interest | $0 |
| Taxes | $362,680 |
| Depreciation | $0 |
| Occupancy | $34,367 |
| Travel, conferences, and meetings | $645,941 |
| Printing and publications | $3,467 |
| Other expenses | $2,922,795 |
| Total operating and administrative expenses | $13,373,286 |
| Contributions, gifts, grants paid | $54,070,664 |
| Total expenses and disbursements | $67,443,950 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,722 |
| Savings and temporary cash investments | $8,627,151 |
| 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 | $278,788,171 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $717,991,169 |
| 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, The Robert D And Patricia E Kern Family Foundation Inc has awarded $170,109,935 in support to 189 organizations.
| Grant Recipient | Amount |
|---|---|
Broomfield, CO PURPOSE: IMPACT-CHARACTER-CTE INTEGRATION | $36,000,000 |
Phoenix, AZ PURPOSE: SUPPORT THE VIRTUE LEADERSHIP PROGRAM AND THE EXPANSION OF THEIR SCHOOL NETWORK | $18,451,733 |
Broomfield, CO PURPOSE: IMPACT-CHARACTER-CTE INTEGRATION | $9,000,000 |
Phoenix, AZ PURPOSE: SUPPORT THE VIRTUE LEADERSHIP PROGRAM AND THE EXPANSION OF THEIR SCHOOL NETWORK | $7,446,485 |
WAKE FOREST UNIVERSITY PURPOSE: KEEN IMPLEMENTATION; ENTREPRENEURIAL MINDED FACULTY DEVELOPMENT TRAINING | $6,593,000 |
Grand Rapids, MI PURPOSE: FWE FOCUSED PROGRAMMING, CONFERENCES | $3,200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
Fulk Family Foundation Inc Chicago, IL | $111,507,856 | $5,187,231 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
Grainger Foundation Inc Lake Forest, IL | $184,158,239 | $17,016,007 |
Zell Family Foundation Chicago, IL | $0 | $76,843,080 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Abbvie Foundation North Chicago, IL | $72,211,109 | $4,010,058 |
Caterpillar Foundation Peoria, IL | $93,606,659 | $54,411,827 |
Circle Of Service Foundation Chicago, IL | $697,372,085 | $55,153,209 |
Allstate Foundation Northbrook, IL | $112,475,932 | $31,277,614 |
The Meijer Foundation Grand Rapids, MI | $118,103,895 | $43,970,388 |