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Nonprofiteer
← KERNSVILLE FOUNDATION INC

Form 990 for tax year 2024

Filed by KERNSVILLE FOUNDATION INC.

Totals

Total revenue
$690,192
Total expenses
$503,541
Contributions and grants received
$385,340
Grants paid
$455,689
Program service revenue
$0
Investment income
$304,852
Other revenue
$0
Total assets, end of year
$3,559,075
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,559,075
Program services expenses (Part IX)
$455,689
Management and general expenses
$47,852
Fundraising expenses
$0
Program service expenses (Part III)
$455,689

Program services were 90.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $15,000

  • 1e · Government grants (contributions)

    $100,000

  • 1f · All other contributions, gifts and grants

    $270,340

  • 3 · Investment income

    total $75,285 · unrelated business $0 · excluded $75,285

  • 7a · Gross sales of assets other than inventory

    securities $1,050,884

  • 7b · Less cost or other basis and sales expenses

    securities $821,317

  • 7c · Gain or loss

    securities $229,567

  • 7d · Net gain or loss

    total $229,567 · related or exempt $0 · unrelated business $0 · excluded $229,567

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $455,689 · program services $455,689

  • 11c · Fees: accounting

    total $5,250 · program services $0 · management and general $5,250 · fundraising $0

  • 11f · Fees: investment management

    total $16,802 · program services $0 · management and general $16,802 · fundraising $0

  • 12 · Advertising and promotion

    total $2,272 · program services $0 · management and general $2,272 · fundraising $0

  • 13 · Office expenses

    total $985 · program services $0 · management and general $985 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $14,600 · program services $0 · management and general $14,600 · fundraising $0

  • 23 · Insurance

    total $1,627 · program services $0 · management and general $1,627 · fundraising $0

  • 24a · Other expenses: BANK FEE

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses: PROPERTY TAXES

    total $543 · program services $0 · management and general $543 · fundraising $0

  • 24c · Other expenses: MAINT-CONTRIBUTED PROPERTY

    total $2,375 · program services $0 · management and general $2,375 · fundraising $0

  • 24d · Other expenses: TEMPORARY HELP

    total $3,398 · program services $0 · management and general $3,398 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $447 · end of year $13,547

  • 2 · Savings and temporary cash investments

    beginning of year $556,229 · end of year $560,021

  • 10a · Land, buildings and equipment: cost or other basis

    $52,756

  • 10c · Land, buildings and equipment, net

    beginning of year $44,456 · end of year $52,756

  • 11 · Investments: publicly traded securities

    beginning of year $2,623,519 · end of year $2,932,751

  • 27 · Net assets without donor restrictions

    beginning of year $1,062,869 · end of year $1,245,317

  • 28 · Net assets with donor restrictions

    beginning of year $2,161,782 · end of year $2,313,758

Mission and programs · 2024

Mission

TO MAKE CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS, COMUNITY PROJECTS

  • GRANTS AND SUPPORT FOR LOCAL COMMUNITY PROJECTS OF LOCAL COMMUNITY GROUPS, LOCAL RELIGOUS GROUPS AND MINISTRIES, AND LOCAL HISTORIC GROUPS.

    Expenses $455,689

As filed on the 2024 return.

Listed in Part VII

  • Jeff Taylor

    PRESIDENT

    Total calculated
    $0
  • James Bland

    VICE-PRESIDENT

    Total calculated
    $0
  • Dona Neal

    TREASURER

    Total calculated
    $0
  • Jason Grubs

    SECRETARY

    Total calculated
    $0
  • Overton Harper

    DIRECTOR

    Total calculated
    $0
  • Ron Greene

    DIRECTOR

    Total calculated
    $0
  • Charles Bug

    DIRECTOR

    Total calculated
    $0
  • Chris Oakman

    DIRECTOR

    Total calculated
    $0
  • Darrell Walker

    DIRECTOR

    Total calculated
    $0
  • Roy Collette

    DIRECTOR

    Total calculated
    $0
  • Duane Long

    DIRECTOR

    Total calculated
    $0
  • Pam Ray

    DIRECTOR

    Total calculated
    $0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202543189349304169

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