THE KERNELS FOUNDATION (EIN 421506142) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

JORETTA BARBEE

Phone

3193633887

Tax Period

2024-11-01 to 2025-10-31

THE KERNELS FOUNDATION, founded in 2000, is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $51K in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $67K exceeded revenue, resulting in a 31% operating deficit.

Mission

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,710

Program Service Revenue $12,000

Investment Income $1,070

Other Revenue $35,257

TOTAL REVENUE $51,037

Expense Breakdown

Grants Paid $59,193

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $59,693

Other Expenses $7,784

TOTAL EXPENSES $66,977

Year-over-Year Comparison

	2024	2023	Change
Revenue	$51,037	$64,670	-0.2%
Expenses	$66,977	$54,501	+0.2%
Net Income	$-15,940	$10,169	-2.6%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JORETTA BARBEE	TREASURER	1.00	Officer Director	$0	$0	$0
ARON BRECHT	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BREITBACH	SECRETARY	1.00	Officer Director	$0	$0	$0
TOM CHALSTROM	DIRECTOR	1.00	Director	$0	$0	$0
RYNE GEORGE	DRIECTOR	1.00	Director	$0	$0	$0
GAYLA HUSTON	DIRECTOR	1.00	Director	$0	$0	$0
TOM KELLY	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
DANA NICHOLS	PRESIDENT	1.00	Officer Director	$0	$0	$0
BRAD SIMANEK	DIRECTOR	1.00	Director	$0	$0	$0
STEVE SMITH	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$51,037	$66,977	$134,962	$-15,940
2024	$64,670	$54,501	$150,902	$10,169
2023	$62,402	$48,795	$140,733	$13,607
2022	$97,126	$36,906	$127,126	$60,220
2021	$52,180	$24,501	$106,906	$27,679
2020	$26,078	$33,908	$109,227	$-7,830
2019	$52,067	$33,979	$117,057	$18,088
2018	$38,328	$24,252	$98,969	$14,076

THE KERNELS FOUNDATION