Kernsville Foundation Inc
- Assets
- $3.9m
- Revenue
- $967.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Kernersville, NC
- Founding
- 04/1999
- Data as of
- 12/2021
- EIN
- 52-2168471
Organization Overview
Kernsville Foundation Inc is located in Kernersville, NC. The organization was established in 1999. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kernsville 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, Kernsville Foundation Inc generated $967.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $293.5k during the year ending 12/2021. While expenses have increased by 14.3% 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 2016, Kernsville Foundation Inc has awarded 74 individual grants totaling $1,741,069. 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
TO MAKE CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS, COMMUNITY PROJECTS, AND ACTIVITIES IN THE KERNERSVILLE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND SUPPORT FOR LOCAL COMMUNITY PROJECTS OF LOCAL COMMUNITY GROUPS, LOCAL RELIGIOUS GROUPS AND MINISTRIES, AND LOCAL HISTORIC GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Taylor President | OfficerTrustee | 5 | $0 |
James E Bland Vice-President | OfficerTrustee | 1 | $0 |
Jason Grubbs Secretary | OfficerTrustee | 1 | $0 |
Dona Neal Treasurer | OfficerTrustee | 1 | $0 |
Ronald S Greene Director | Trustee | 0 | $0 |
Charles K Bugg Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,189,850 |
| Noncash contributions included in lines 1a–1f | $310,783 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,189,850 |
| Total Program Service Revenue | $0 |
| Investment income | $49,303 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,600 |
| Net Gain/Loss on Asset Sales | -$278,648 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $967,105 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $261,273 |
| Grants and other assistance to domestic individuals. | $5,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $400 |
| Fees for services: Accounting | $4,020 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,775 |
| Fees for services: Other | $81 |
| Advertising and promotion | $828 |
| Office expenses | $2,112 |
| 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 | $1,604 |
| All other expenses | $0 |
| Total functional expenses | $293,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $448 |
| Savings and temporary cash investments | $1,193,728 |
| 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 |
| Net Land, buildings, and equipment | $146,956 |
| Investments—publicly traded securities | $2,589,842 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,930,974 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,126,506 |
| Net assets with donor restrictions | $2,804,468 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,930,974 |
Grants Awarded
Over the last fiscal year, Kernsville Foundation Inc has awarded $212,411 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
Winston Salem, NC PURPOSE: SUPPORT LOCAL COMMUNITY PROJECTS | $45,000 |
Kernersville, NC PURPOSE: SUPPORT FOR LOCAL HISTORICAL GROUP | $24,300 |
Kernersville, NC PURPOSE: SUPPORT FOR ELDER CARE MINISTRY | $20,411 |
Kernersville, NC PURPOSE: SUPPORT FOR MINISTRY | $19,000 |
CRISIS CONTROL MINISTRY PURPOSE: SUPPORT FOR MINISTRY | $19,000 |
MAIN STREET METHODIST CHURCH PURPOSE: SUPPORT FOR MINISTRY | $19,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Kernsville Foundation Inc has recieved totaling $10,913.
| Awarding Organization | Amount |
|---|---|
Lawrence & Etta Lea Pope Foundation Kernersville, NC PURPOSE: TO SUPPORT SCHOLARSHIPS FOR KERNERSVILLE RESIDENTS | $10,000 |
Allen Tate Foundation Charlotte, NC PURPOSE: UNRESTRICTED | $520 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $393 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Virginia Museum Of Fine Arts Foundation Richmond, VA | $286,070,393 | $48,848,372 |
Pbs Foundation Arlington, VA | $37,997,942 | $17,786,379 |
North Carolina Museum Of Art Foundation Inc Raleigh, NC | $80,876,506 | $13,828,837 |
Virginia Foundation For Public Media Richmond, VA | $185,376,659 | $5,025,363 |
Memphis Brooks Museum Of Art Inc Memphis, TN | $44,232,792 | $7,821,496 |
Marbles Kids Museum Raleigh, NC | $8,790,326 | $3,967,863 |
Friends Of Nc State Museum Of Natural Sciences Raleigh, NC | $9,967,287 | $3,956,524 |
Centennial Park Conservancy Nashville, TN | $5,267,235 | $2,768,009 |
Medal Of Honor Foundation Inc Mt Pleasant, SC | $10,060,291 | $4,482,883 |
Jefferson Center Foundation Ltd Roanoke, VA | $24,079,593 | $2,456,793 |
Frist Art Museum Foundation Nashville, TN | $70,216,759 | $5,732,814 |
The Callanwolde Foundation Inc Atlanta, GA | $3,540,357 | $1,973,152 |