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Nonprofiteer
← KERN COMMUNITY FOUNDATION

Form 990 for tax year 2023

Filed by KERN COMMUNITY FOUNDATION.

Totals

Total revenue
$5,081,433
Total expenses
$4,300,421
Contributions and grants received
$3,204,144
Grants paid
$1,497,695
Program service revenue
$524,667
Investment income
$1,352,622
Other revenue
$0
Total assets, end of year
$43,441,433
Total liabilities, end of year
$5,818,356
Net assets or fund balances, end of year
$37,623,077
Program services expenses (Part IX)
$2,899,061
Management and general expenses
$1,051,019
Fundraising expenses
$350,341
Program service expenses (Part III)
$2,899,061

Program services were 67.4% 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.

  • 1f · All other contributions, gifts and grants

    $3,204,144

  • 1g · Noncash contributions included above

    $3,173

  • 2a · Program service revenue: MANAGEMENT FEES

    total $524,667 · related or exempt $524,667

  • 3 · Investment income

    total $1,018,643 · excluded $1,018,643

  • 7a · Gross sales of assets other than inventory

    securities $3,627,111

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

    securities $3,293,132

  • 7c · Gain or loss

    securities $333,979

  • 7d · Net gain or loss

    total $333,979 · excluded $333,979

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,497,695 · program services $1,497,695

  • 5 · Compensation of officers, directors and key employees

    total $165,951 · program services $82,975 · management and general $62,232 · fundraising $20,744

  • 7 · Other salaries and wages

    total $1,118,350 · program services $559,175 · management and general $419,381 · fundraising $139,794

  • 9 · Other employee benefits

    total $68,326 · program services $34,163 · management and general $25,622 · fundraising $8,541

  • 10 · Payroll taxes

    total $103,162 · program services $51,582 · management and general $38,685 · fundraising $12,895

  • 11a · Fees: management

    total $545,350 · program services $272,675 · management and general $204,506 · fundraising $68,169

  • 11b · Fees: legal

    total $2,776 · program services $1,388 · management and general $1,041 · fundraising $347

  • 11c · Fees: accounting

    total $18,099 · program services $9,050 · management and general $6,787 · fundraising $2,262

  • 11g · Fees: other

    total $251,165 · program services $125,583 · management and general $94,186 · fundraising $31,396

  • 13 · Office expenses

    total $13,982 · program services $6,991 · management and general $5,243 · fundraising $1,748

  • 16 · Occupancy

    total $71,154 · program services $35,578 · management and general $26,682 · fundraising $8,894

  • 17 · Travel

    total $9,674 · program services $4,837 · management and general $3,628 · fundraising $1,209

  • 19 · Conferences, conventions and meetings

    total $117,326 · program services $58,663 · management and general $43,997 · fundraising $14,666

  • 23 · Insurance

    total $13,000 · program services $6,500 · management and general $4,875 · fundraising $1,625

  • 24a · Other expenses: CONTRACT LABOR

    total $120,425 · program services $60,213 · management and general $45,159 · fundraising $15,053

  • 24b · Other expenses: PRINTING AND MARKETING

    total $103,253 · program services $51,627 · management and general $38,719 · fundraising $12,907

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $59,591 · program services $29,796 · management and general $22,346 · fundraising $7,449

  • 24d · Other expenses: DEPRECIATION EXPENSE

    total $8,518 · program services $4,259 · management and general $3,194 · fundraising $1,065

  • 24e · All other expenses

    total $12,624 · program services $6,311 · management and general $4,736 · fundraising $1,577

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $2,745,419

  • 2 · Savings and temporary cash investments

    beginning of year $10,214,940 · end of year $7,577,558

  • 3 · Pledges and grants receivable

    end of year $300,278

  • 4 · Accounts receivable

    beginning of year $160,205 · end of year $108,243

  • 9 · Prepaid expenses and deferred charges

    beginning of year $44,622 · end of year $82,380

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

    $140,431

  • 10b · Land, buildings and equipment: accumulated depreciation

    $38,673

  • 10c · Land, buildings and equipment, net

    beginning of year $6,992 · end of year $101,758

  • 12 · Investments: other securities

    beginning of year $27,776,121 · end of year $32,364,108

  • 15 · Other assets

    beginning of year $0 · end of year $161,689

  • 17 · Accounts payable and accrued expenses

    beginning of year $138,207 · end of year $277,360

  • 18 · Grants payable

    beginning of year $264,276 · end of year $190,000

  • 19 · Deferred revenue

    beginning of year $103,333 · end of year $270,000

  • 25 · Other liabilities

    beginning of year $3,927,118 · end of year $5,080,996

  • 27 · Net assets without donor restrictions

    beginning of year $32,819,946 · end of year $31,173,077

  • 28 · Net assets with donor restrictions

    beginning of year $950,000 · end of year $6,450,000

Mission and programs · 2023

Mission

KERN COMMUNITY FOUNDATION'S MISSION IS GROWING COMMUNITY AND GROWING PHILANTHROPY.

  • KERN COMMUNITY FOUNDATION IS IN BUSINESS TO SERVE AS A CHARITABLE RESOURCE FOR LOCAL DONORS AND CORPORATIONS AND TO GENERATE CAPITAL THAT PROVIDES PHILANTHROPIC SOLUTIONS TO HELP MAKE KERN COUNTY A BETTER PLACE TO LIVE, TO WORK AND TO VISIT. THE FOUNDATION IS HOME FOR LOCAL PHILANTHROPISTS, WITH MORE THAN 175 NAMED FUNDS THAT HELP DONORS ORGANIZE AND ACHIEVE MEANINGFUL RESULTS FROM THEIR CHARITABLE GIVING. THE FOUNDATION IS A RESULTS-ORIENTED GRANTMAKER, AWARDING APPROXIMATELY $2,152,328 IN GRANTS IN 2022. THE FOUNDATION IS A TRUSTED COMMUNITY LEADER FOCUSING ON INITIATIVES SUCH AS COLLEGE ACCESS AND NONPROFIT STRENGTHENING.

    Expenses $2,899,061 · Grants $1,497,695 · Revenue $524,667

As filed on the 2023 return.

Listed in Part VII

  • Carlos Sanchez

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Glenda Garcia

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Vincent Oddo

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Tanya Alsheikh

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey A Gutierrez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joe Gregory

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John C Hershey III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Justin Leland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    11

  • Kristen Beall Watson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lydia Chaney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laura Wolfe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Aaron Falk

    PRESIDENT/CEO

    Total calculated
    $165,950
    From this org
    $165,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,950
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $165,950

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202423209349321887

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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