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Kernels Foundation FY2024 filing

Tax-deductible

Cedar Rapids, IA501(c)(3)Foundations & Grantmakers EIN 42-1506142Revenue $65K in FY2024Latest return filed Feb 3, 2026

On file with the IRSCedar Rapids, IATax-exempt since Nov 2000Publicly supported charity — 170(b)(1)(A)(vi)

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The Kernels Foundation is an organization soliciting & collecting community contributions to be provided to qualified charitable organizations in the city of cedar rapids and linn county, IA, for their use in creating recreational facilities and programs.

Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 42-1506142) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $15K a year · 25% of revenue · last 6 filings
A surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
87%
of spending
87% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
33.2 mo
of spending, in cash
33.2 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $3K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$90K
60% of total assets
Liabilities are 60% of assets.
Pt X · Ln 26
Independent board members
10
of 10 voting members
10 of 10 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$65K
+4% vs prior year
Spent
$55K
To programs
87%
Net assets
$61K
By yearFY2020–FY2025
Revenue
$65K
FY2024▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$26K
FY2021$52K
FY2022$97K
FY2023$62K
FY2024$65K
FY2025$51K
Expenses
$55K
FY2024▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2020$34K
FY2021$25K
FY2022$37K
FY2023$49K
FY2024$55K
FY2025$67K
Net assets
$61K
FY2024▲ +20%
Tap a bar for its year
Net assets by fiscal year
FY2020−$51K
FY2021−$23K
FY2022$37K
FY2023$51K
FY2024$61K
FY2025$45K

From the FY2024 Form 990 (year ending October 2024) · see the original

990 PDF Support Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2000.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $47K Management & general 13% · $7K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
Steve Smith
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Gayla Huston
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Dana Nichols
President
$0Pt VII · Sec A
Tom Kelly
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Ryan George
Director
$0Pt VII · Sec A
See Kernels Foundation executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Collects community donations to fund recreational facilities and programs for local charities.

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1 program · $47K · in their own filed words · FY2023
01

Solicitation and collection of community contributions provided to the city of cedar rapids and qualified charitable organizations of linn county, ia for their use in creating recreational facilities and programs.

Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 42-1506142) · Dispute this line
$47Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Hills Bancorporation FoundatiionFY2023$3K
Total grants receivedfrom 1 funder$3K
Grants paid · 4 grants · $34K · 2021–2024
Prospect Meadows INCIA · FY2024$12,000
Prospect Meadows INCIA · FY2023$6,000
Colesburg CommunityFY2022$10,000
Prospect Meadows INCIA · FY2021$6,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$65K
Ln 12
Other incomeLn 4–11$26K
Fees for servicesLn 2g$24K
Gifts and grantsLn 1h$12K
Money outPt IX
$55K
Ln 25
Programscol B$47K
Managementcol C$7K
Owns and owesPt X
$61K
net assets · Ln 32
Cash and savingsLn 1–2$151K
Total assetsLn 16$151K
LiabilitiesLn 26$90K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12K
Fees for servicesLn 2g$24K
Investment incomeLn 3$3K
Other incomeLn 4–11$26K
Total revenueLn 12$65K
Assets in detailPt X, end of year
CashLn 1$51K
SavingsLn 2$100K
Cash and savings togetherLn 1–2$151K
Total assetsLn 16$151K
LiabilitiesLn 26$90K
Net assetsLn 32$61K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$141K$151K
Total assetsLn 16$141K$151K
LiabilitiesLn 26$90K$90K
Net assetsLn 32$51K$61K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$46K$46K
Grants to domestic individualsLn 2$1K$1K
Other fees for servicesLn 11g$150$150
InterestLn 20$4K$4K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$2K$500$1K
Total functional expensesLn 25$55K$47K$7K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Feb 3, 2026 $51K$67K−$16K$45K 990 PDF
FY2024 ViewingFiled with the IRS Sep 12, 2025 $65K$55K$10K$61K 990 PDF
FY2023Filed with the IRS Mar 6, 2024 $62K$49K$14K$51K 990 PDF
FY2022Filed with the IRS Mar 15, 2023 $97K$37K$60K$37K 990 PDF
FY2021Filed with the IRS Mar 10, 2022 $52K$25K$28K−$23K 990 PDF
FY2020Filed with the IRS Mar 11, 2021 $26K$34K−$8K−$51K 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2024 990
Part I · Summary $64,670 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,400$12,141
I-9 Program service revenuePrior year $12,000$23,583
I-10 Investment incomePrior year $3,176$3,269
I-11 Other revenuePrior year $35,826$25,677
I-12 Total revenuePrior year $62,402$64,670
I-13 Grants and similar amounts paidPrior year $5,458$46,799
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $43,337$7,702
I-18 Total expensesPrior year $48,795$54,501
I-19 Revenue less expensesPrior year $13,607$10,169
Part VI · Governance 10 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $64,670 across 5 lines filed
Lines not itemized here account for $25,677 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$12,141
VIII-1h Total contributions, gifts and grants$12,141
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $23,583$23,583
VIII-3 Investment incomeExcluded from tax $3,269$3,269
VIII-12 Total revenueRelated to mission $23,583 · Unrelated business $0 · Excluded from tax $28,946$64,670
Part IX · Statement of functional expenses $54,501 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $45,799$45,799
IX-2 Grants to domestic individualsPrograms $1,000$1,000
IX-11g Other fees for servicesManagement $150$150
IX-20 InterestManagement $4,185$4,185
IX-23 InsuranceManagement $1,542$1,542
IX-24 Other expenses (24a–d)Programs $500 · Management $1,325$1,825
IX-25 Total functional expensesPrograms $47,299 · Management $7,202 · Fundraising $0$54,501
Part X · Balance sheet $150,902 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $42,902$50,823
X-2 Savings and temporary cash investmentsStart of year $97,831$100,079
X-16 Total assetsStart of year $140,733$150,902
X-23 Secured mortgages and notes payableStart of year $90,000$90,000
X-26 Total liabilitiesStart of year $90,000$90,000
X-29 Capital stock or trust principalStart of year $0$0
X-30 Paid-in or capital surplusStart of year $0$0
X-31 Retained earnings or endowmentStart of year $50,733$60,902
X-32 Total net assets or fund balancesStart of year $50,733$60,902
X-33 Total liabilities and net assetsStart of year $140,733$150,902
Part XI · Reconciliation of net assets $60,902 net assets at year end
XI-1 Total revenue$64,670
XI-2 Total expenses$54,501
XI-3 Revenue less expenses$10,169
XI-4 Net assets at start of year$50,733
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$60,902

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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