The Robert D And Patricia E Kern Family Foundation Inc
- Assets
- $841.8m
- Revenue
- $170.2m
- Investments
- $830.8m
- Employees
- 0
- Location
- Waukesha, WI
- Founding
- 02/1999
- Data as of
- 12/2023
- 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 12/2023, Robert D And Patricia E Kern Family Foundation Inc generated $170.2m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 32.6% each year . All expenses for the organization totaled $80.7m during the year ending 12/2023. While expenses have increased by 5.4% per year over the past 5 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 735 individual grants totaling $640,960,310. 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
FRANKLINCOVEY CLIENT SALES INC. - CONSULTING TO EXPAND THE LEADER IN ME NETWORK
MAINTENANCE AND ENHANCEMENT OF KEEN DIGITAL PLATFORM FOR USE BY THE KEEN NETWORK OF OVER 6,600 USERS
FACULTY DEVELOPMENT - 14 CONFERENCES CONVENED TO TRAIN FACULTY WITHIN THE KEEN NETWORK WITH 244 GRANTEES IN ATTENDANCE
KEEN PROGRAM NETWORK CONFERENCES - HOSTED 2 EVENTS IN 2023 WITH A TOTAL OF 555 GRANTEES IN ATTENDANCE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bode Kyle R Vice President | 40 | $379,817 | |
Graber Richard Director | 1 | $2,000 | |
Hanson Gail Director | 1 | $3,000 | |
Peterson Marcia Director & Chairman Of The Board | 10 | $0 | |
Pierson Warren Director | 1 | $2,000 | |
Rahn James C Director & President | 40 | $711,404 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Franklincovey Client Sales Inc | 12/30/23 | $11,750,000 |
Pgim Real Estate | 12/30/23 | $543,126 |
Artemis Real Estate Partners | 12/30/23 | $378,534 |
Concurrency | 12/30/23 | $360,414 |
Fred Alger Management Inc | 12/30/23 | $317,863 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $150,723,335 |
| Interest on Savings | $0 |
| Dividends & Interest | $7,707,988 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,214,516 |
| Capital Gain Net Income | $5,915,871 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,559,465 |
| Total Revenue | $170,205,304 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,467,175 |
| Other employee salaries and wages | $2,602,195 |
| Pension plans, employee benefits | $1,402,378 |
| Interest | $0 |
| Taxes | $1,033,593 |
| Depreciation | $0 |
| Occupancy | $28,436 |
| Travel, conferences, and meetings | $2,305,685 |
| Printing and publications | $4,174 |
| Other expenses | $13,742,533 |
| Total operating and administrative expenses | $26,665,926 |
| Contributions, gifts, grants paid | $54,002,017 |
| Total expenses and disbursements | $80,667,943 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,426 |
| Savings and temporary cash investments | $10,987,677 |
| 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 | $384,952,192 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $841,791,534 |
| 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 $213,818,513 in support to 185 organizations.
| Grant Recipient | Amount |
|---|---|
ACTON INSTITUTE FOR THE STUDY OF RELIGION AND LIBERTY PURPOSE: OPERATIONAL SUPPORT AND OUTREACH | $1,600,000 |
AMERICAN ASSOCIATION OF COLLEGES AND UNIVERSITIES PURPOSE: SUPPORT FOR THE COALITION FOR LIFE TRANSFORMATIVE EDUCATION (CLTE) | $600,000 |
AMERICAN ENTERPRISE INSTITUTE FOR PUBLIC POLICY RESEARCH PURPOSE: SUPPORT THE INITIATIVE ON FAITH AND PUBLIC LIFE | $750,000 |
ARIZONA STATE UNIVERSITY FOUNDATION FOR A NEW AMERICAN UNIVERSITY PURPOSE: IMPLEMENTING PRINCIPLED INNOVATION AS THE 9TH DESIGN PRINCIPLE AT ASU; EMBEDDING EM INSTITUTIONALLY | $1,725,000 |
ARKANSAS STATE UNIVERSITY SYSTEM FOUNDATION INC PURPOSE: INTEGRATE CHARACTER WITHIN EDUCATION SCHOOL | $150,000 |
AMERICAN SOCIETY FOR ENGINEERING EDUCATION PURPOSE: SUPPORT PROGRAM ACTIVITIES TO ADVANCE ENTREPRENEURIAL MINDSET (EM) RESOURCES FOR ASEE MEMBERS | $250,000 |