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K2 Charitable Foundation EIN 46-1208733

K2 Charitable Foundation FY2023 filing

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A private foundation based in Urbandale, IA. It reported about $1.2M in revenue for 2023. For fiscal year 2023 it reported $1.2M in revenue, $1.6M in expenses, and $4.7M in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Urbandale, IA
Filings
6 on file (2020–2023)
Revenue
$1.2MFY2023
Expenses
$1.6M
Net assets
$4.7M
People
6
Filings
6
Updates
0
More identity details & actions ⌄
EIN  46-1208733 Private foundation / grantmaker Urbandale, IA
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →
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Size
$1–10M
What they do
A private foundation based in Urbandale, IA. It reported about $1.2M in revenue for 2023.
Leadership
Kenneth L Smith · President
Money in and out
$1.2M revenue, $1.6M expenses
Bottom line
—
Grants paid & assets · FY2023
Total revenue
$1.2M
Pt VIII · Ln 12
Total expenses
$1.6M
Pt IX · Ln 25
Net assets
$4.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$366K
Total assets
4.7M
deployed as grants and operations
Grants paid
1.5M
in FY2023
Grants made
16grants
total in period
Payout rate
32%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 16 grants · $2.1M · 2025–2025
Haiti Christian Development FundFY2025$1,032,500
New Horizons MinistriesFY2025$407,500
Freedom for YouthFY2025$269,000
Agape Pregnancy Resource CenterFY2025$150,000
Open Bible ChurchFY2025$82,000
John & Vera Mae Perkins FoundationFY2025$67,500
JoppaFY2025$40,000
Leader SourceFY2025$35,000
The Mendenhall MinistriesFY2025$25,000
Scalpel at the CrossFY2025$20,000
Variety - the Childrens Charity of IowaFY2025$2,000
Holy Cross ChurchFY2025$2,000
Des Moines Refugee SupportFY2025$2,000
Hidden Acres Christian CenterFY2025$2,000
Fellowship of Christian AthletesFY2025$1,500
Joshua Christian AcademyFY2025$500

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$134K
Median grantPart XV$35K
Largest grantPart XV$1.0M

Summary of the Filing

Part I · fiscal year 2023 · Form 990-PF
Revenue
$1.2M
FY2023▲ +44%
Expenses
$1.6M
FY2023▲ +26%
Total assets
$4.7M
FY2023▼ -7%
Total liabilities
$20K
FY2023▲ +111%
Total revenue
$1.2M
Pt VIII · Ln 12
Total expenses
$1.6M
Pt IX · Ln 25
Net assets
$4.7M
Pt X · Ln 32
Total assetsPt II$4.7M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CK2 Charitable Foundation
EINHdr · item D46-1208733
Principal addressHdr · item CUrbandale, IA
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MIA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T22)
Ruling yearIRS BMFJul 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
John Lamale
Treasurer
$0Pt VII · Sec A
Barry Luchtel
Secretary
$0Pt VII · Sec A
Landon Luchtel
Vice President
$0Pt VII · Sec A
Tom Gilbert
Director
$0Pt VII · Sec A
See K2 Charitable Foundation executive salaries →

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Statement of Revenue

Part VIII
Investment income$768K · 62%
Contributions & grants$368K · 30%
Other revenue$96K · 8%
Investment income62%$768K
Contributions & grants30%$368K
Other revenue8%$96K
Total revenueLn 12$1.2M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.94 Operating & administrative $0.06
Grants & contributions paid94%$1.5M
Operating & administrative6%$91K
Total functional expensesLn 25$1.6M

Balance Sheet

Part X · end of year
CashLn 1$437K
Total assetsLn 16$4.7M
Total liabilitiesLn 26$20K
Total net assetsLn 32$4.7M
Months of cash on handcomputed3.3

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $4.7M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $1.2M
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $1.2M
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $1.2M · Prior year $855K
+44%
Net-asset trend (YoY)
End of year $4.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.2M · Expenses $1.6M
-30%
Liabilities-to-Assets
Total liabilities — · Total assets $4.7M
—
Net-asset ratio
Net assets $4.7M · Total assets $4.7M
100%
People & payroll
Highest Reported Total Compensation
Individual Kenneth L Smith · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $1.6M
0%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 44%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$2.8M revenue · ⤓ 990 PDF
FY2024$2.2M revenue · ⤓ 990 PDF
FY2023$1.2M revenue · viewing · ⤓ 990 PDF
FY2022$855K revenue · ⤓ 990 PDF
FY2021$243K revenue · ⤓ 990 PDF
FY2020$287K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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