Civic Intelligence

The Kernels Foundation

990 • Fiscal year 2018 • EIN 42-1506142

Nov 01, 2017 to Oct 31, 2018 • Filed on Jan 29, 2019

PO Box 2001Cedar Rapids, IA 52406-2001

(319) 363-3887

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

96th percentile

1.62x

Higher debt load relative to assets than 96% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

99th percentile

4.17x

Higher debt load relative to revenue than 99% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

87th percentile

37%

Higher net margin than 87% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

70th percentile

17%

Faster asset growth than 70% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

14th percentile

-36%

Faster revenue growth than 14% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Up

$98,969

Up $14,076 (+17%) from 2017

Net Assets

Up

-$61,031

Up $14,076 (+19%) from 2017

Liabilities

Flat

$160,000

Flat from 2017

Revenue

Down

$38,328

Down $21,971 (-36%) from 2017

Expenses

Down

$24,252

Down $24,709 (-50%) from 2017

Net Income

Up

$14,076

Up $2,738 (+24%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$200K$0-$200KAssets 2011: $28,374Liabilities 2011: $223,359Net Assets 2011: -$194,9852011Assets 2012: $52,539Liabilities 2012: $223,359Net Assets 2012: -$170,8202012Assets 2013: $64,817Liabilities 2013: $223,359Net Assets 2013: -$158,5422013Assets 2014: $72,738Liabilities 2014: $207,814Net Assets 2014: -$135,0762014Assets 2015: $85,951Liabilities 2015: $185,814Net Assets 2015: -$99,8632015Assets 2016: $86,473Liabilities 2016: $172,918Net Assets 2016: -$86,4452016Assets 2017: $84,893Liabilities 2017: $160,000Net Assets 2017: -$75,1072017Assets 2018: $98,969Liabilities 2018: $160,000Net Assets 2018: -$61,0312018Assets 2019: $117,057Liabilities 2019: $160,000Net Assets 2019: -$42,9432019Assets 2020: $109,227Liabilities 2020: $160,000Net Assets 2020: -$50,7732020Assets 2021: $106,906Liabilities 2021: $130,000Net Assets 2021: -$23,0942021Assets 2022: $127,126Liabilities 2022: $90,000Net Assets 2022: $37,1262022Assets 2023: $140,733Liabilities 2023: $90,000Net Assets 2023: $50,7332023Assets 2024: $150,902Liabilities 2024: $90,000Net Assets 2024: $60,9022024Assets 2025: $134,962Liabilities 2025: $90,000Net Assets 2025: $44,9622025

Highlighted filing

2018

Assets$98,969
Liabilities$160,000
Net Assets-$61,031

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100K$50K$0-$50KRevenue 2011: $79,285Expenses 2011: $99,677Net Income 2011: -$20,3922011Revenue 2012: $70,720Expenses 2012: $46,555Net Income 2012: $24,1652012Revenue 2013: $59,592Expenses 2013: $47,314Net Income 2013: $12,2782013Revenue 2014: $88,759Expenses 2014: $65,293Net Income 2014: $23,4662014Revenue 2015: $90,164Expenses 2015: $61,598Net Income 2015: $28,5662015Revenue 2016: $69,824Expenses 2016: $56,406Net Income 2016: $13,4182016Revenue 2017: $60,299Expenses 2017: $48,961Net Income 2017: $11,3382017Revenue 2018: $38,328Expenses 2018: $24,252Net Income 2018: $14,0762018Revenue 2019: $52,067Expenses 2019: $33,979Net Income 2019: $18,0882019Revenue 2020: $26,078Expenses 2020: $33,908Net Income 2020: -$7,8302020Revenue 2021: $52,180Expenses 2021: $24,501Net Income 2021: $27,6792021Revenue 2022: $97,126Expenses 2022: $36,906Net Income 2022: $60,2202022Revenue 2023: $62,402Expenses 2023: $48,795Net Income 2023: $13,6072023Revenue 2024: $64,670Expenses 2024: $54,501Net Income 2024: $10,1692024Revenue 2025: $51,037Expenses 2025: $66,977Net Income 2025: -$15,9402025

Highlighted filing

2018

Revenue$38,328
Expenses$24,252
Net Income$14,076
Jump To
Filing Snapshot
Filing Period
Nov 1, 2017 to Oct 31, 2018
Signed
Jan 29, 2019
Return Version
2017v2.3
Gross Receipts
$38,470
Mission and Program Overview

Mission

To create recreational facilities and programs for the citizens of cedar rapids and the surrounding areas.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$84,893$98,969▲ $14,076
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-75,107$-61,031▲ $14,076
Total Assets$84,893$98,969▲ $14,076
Liabilities
Mortgage Notes Payable Secured by Investment Property$160,000$160,000→ $0
Total Liabilities$160,000$160,000→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$-75,107$-61,031▲ $14,076
Total Liabilities and Net Assets / Fund Balance$84,893$98,969▲ $14,076

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$18,425$1,000--$17,425
2016$18,425$2,000--$18,425
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dana NicholsPresident
Tom KellyVice President
Brad AxdahlDirector
Gayla HustonDirector
Jan KazimourDirector
Thomas C BarbeeDirector
Tom ChalstromDirector
John BreitbachSecretary
Joretta BarbeeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$815
Program Service Revenue
$15,778
Investment Income
$0
Other Revenue
$21,735
All Other Contributions
$815
Change in Net Assets
$14,076
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,552
Grants and Similar Amounts Paid$2,700
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$11,340--$11,340
Interest-$7,440-$7,440
Grants to Domestic Individuals$2,000--$2,000
Insurance-$1,497-$1,497
Fees for Services Accounting-$1,125-$1,125
Grants to Domestic Orgs$700--$700
Office Expenses$150--$150
Total Functional Expenses$14,190$10,062$0$24,252
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$21,877
Gaming Direct Expenses$142
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

The treasurer and a board member are husband and wife.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the president before the tax return is filed.

Form 990, Part VI, Section C, Line 18

All tax returns and exemption applications are available for public inspection by contacting a current officer of the organization.

Form 990, Part VI, Section C, Line 19

All governing documents, financial statements and policies are available for public inspection by contacting a current officer of the organization.

Form 990, Part VII Contact Addresses for Officers, Directors, Etc

Thomas c. Barbee - 1968 highview rd, coralville, ia 52241. Joretta barbee - 1968 highview rd, coralville, ia 52241. Gayla huston - 2541 27th street sw, cedar rapids, ia 52404. Jan kazimour - 321 nassau st se, cedar rapids, ia 52403. John breitbach - 1000 42nd st ste a, cedar rapids, ia 52403. Dana nichols - 500 1st ave ne ste 100, cedar rapids, ia 52401. Tom kelly - 6820 terrazzo dr nw, cedar rapids, ia 52405. Brad axdahl - 425 4th ave ste 801, cedar rapids, ia 52401. Tom chalstrom - 1035 n center point rd, hiawatha, ia 52233.

Filing and Contact Details

Filer

Filer Name
The Kernels Foundation
EIN
42-1506142
Phone
3193633887
Address
PO BOX 2001, CEDAR RAPIDS, IA 52406-2001

Signing Officer

Name
Dana Nichols
Title
President
Phone
3197437103
Signed
2019-01-29

Organization Details

Principal Officer
Dana Nichols
Formed
2000
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
The Brems Group Llp
Address
PO BOX 1386, CEDAR RAPIDS, IA 52406-1386
Preparer
James T Brems
Phone
3193640101
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

SCHOLARSHIPS

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IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt018425
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt01000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt017425
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt02000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt018425
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt02000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt018425
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt02000
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIPS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleG/CharitableDistributionRqrInd00
IRS990ScheduleG/CntrctWith3rdPrtyForGameRevInd00
IRS990ScheduleG/GamingInformationGrp/DirectExpenseSummaryGamingAmt0142
IRS990ScheduleG/GamingInformationGrp/GrossRevenueOtherGamingAmt021877
IRS990ScheduleG/GamingInformationGrp/GrossRevenueTotalGamingAmt021877
IRS990ScheduleG/GamingInformationGrp/NetGamingIncomeSummaryAmt021735
IRS990ScheduleG/GamingInformationGrp/OthDirectExpnssOtherGamingAmt0142
IRS990ScheduleG/GamingInformationGrp/OthDirectExpnssTotalGamingAmt0142
IRS990ScheduleG/GamingInformationGrp/VolunteerLaborOtherGamingInd01
IRS990ScheduleG/GamingInformationGrp/VolunteerLaborOtherGamingPct01.00000
IRS990ScheduleG/GamingManagerIsDirectorOfcrInd0X
IRS990ScheduleG/GamingManagerPersonNm0JORETTA BARBEE
IRS990ScheduleG/GamingManagerServicesProvTxt0MAINTAINS FINANCIAL RECORDS
IRS990ScheduleG/GamingOtherFacilityPct01.00000
IRS990ScheduleG/GamingWithNonmembersInd01
IRS990ScheduleG/IndividualWithBooksNm0JORETTA BARBEE
IRS990ScheduleG/LicensedInd01
IRS990ScheduleG/LicenseSuspendedEtcInd00
IRS990ScheduleG/MemberOfOtherEntityInd00
IRS990ScheduleG/PersonsWithBooksUSAddress/AddressLine1Txt01968 HIGH VIEW RAOD
IRS990ScheduleG/PersonsWithBooksUSAddress/CityNm0CORALVILLE
IRS990ScheduleG/PersonsWithBooksUSAddress/StateAbbreviationCd0IA
IRS990ScheduleG/PersonsWithBooksUSAddress/ZIPCd0522411153
IRS990ScheduleG/StatesWhereGamingConductedCd0IA
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TREASURER AND A BOARD MEMBER ARE HUSBAND AND WIFE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE PRESIDENT BEFORE THE TAX RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL TAX RETURNS AND EXEMPTION APPLICATIONS ARE AVAILABLE FOR PUBLIC INSPECTION BY CONTACTING A CURRENT OFFICER OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND POLICIES ARE AVAILABLE FOR PUBLIC INSPECTION BY CONTACTING A CURRENT OFFICER OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THOMAS C. BARBEE - 1968 HIGHVIEW RD, CORALVILLE, IA 52241. JORETTA BARBEE - 1968 HIGHVIEW RD, CORALVILLE, IA 52241. GAYLA HUSTON - 2541 27TH STREET SW, CEDAR RAPIDS, IA 52404. JAN KAZIMOUR - 321 NASSAU ST SE, CEDAR RAPIDS, IA 52403. JOHN BREITBACH - 1000 42ND ST STE A, CEDAR RAPIDS, IA 52403. DANA NICHOLS - 500 1ST AVE NE STE 100, CEDAR RAPIDS, IA 52401. TOM KELLY - 6820 TERRAZZO DR NW, CEDAR RAPIDS, IA 52405. BRAD AXDAHL - 425 4TH AVE STE 801, CEDAR RAPIDS, IA 52401. TOM CHALSTROM - 1035 N CENTER POINT RD, HIAWATHA, IA 52233.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt084893
IRS990/TotalAssetsEOYAmt098969
IRS990/TotalAssetsGrp/BOYAmt084893
IRS990/TotalAssetsGrp/EOYAmt098969
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0815
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010062
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt014190
IRS990/TotalFunctionalExpensesGrp/TotalAmt024252
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0160000
IRS990/TotalLiabilitiesEOYAmt0160000
IRS990/TotalLiabilitiesGrp/BOYAmt0160000
IRS990/TotalLiabilitiesGrp/EOYAmt0160000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-75107
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-61031
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt014190
IRS990/TotalProgramServiceRevenueAmt015778
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt021735
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt015778
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt038328
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt084893
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt098969
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0500 1ST AVENUE SE STE 100
IRS990/USAddress/CityNm0CEDAR RAPIDS
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052401
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DANA NICHOLS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03197437103
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-01-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE KERNELS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0KERN
ReturnHeader/Filer/EIN0421506142
ReturnHeader/Filer/PhoneNum03193633887
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 2001
ReturnHeader/Filer/USAddress/CityNm0CEDAR RAPIDS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd0524062001
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0705BB0F6C34C76440A312D203DD3027C9EE7EDC5
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0705BB0F6C34C76440A312D203DD3027C9EE7EDC5
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0199.188.65.160
ReturnHeader/FilingSecurityInformation/IPDt02019-01-29
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:25:26
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0352545971
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THE BREMS GROUP LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1386
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CEDAR RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0524061386
ReturnHeader/PreparerPersonGrp/PhoneNum03193640101
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES T BREMS
ReturnHeader/ReturnTs02019-02-06T05:06:56-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-11-01
ReturnHeader/TaxPeriodEndDt02018-10-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$0.90$0.45$0.51$0.67$0.16
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.51$0.90$0.61$0.65$0.55$0.10
2023Summary only. Only limited summary data is available for this year.$1.41$0.90$0.51$0.62$0.49$0.14
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.27$0.90$0.37$0.97$0.37$0.60
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.07$1.30$0.23$0.52$0.25$0.28
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.09$1.60$0.51$0.26$0.34$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.17$1.60$0.43$0.52$0.34$0.18
2018Detailed filing. Detailed filing data is available for this year.$0.99$1.60$0.61$0.38$0.24$0.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.85$1.60$0.75$0.60$0.49$0.11
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.86$1.73$0.86$0.70$0.56$0.13
2015Detailed filing. Detailed filing data is available for this year.$0.86$1.86$1.00$0.90$0.62$0.29
2014Detailed filing. Detailed filing data is available for this year.$0.73$2.08$1.35$0.89$0.65$0.23
2013Summary only. Only limited summary data is available for this year.$0.65$2.23$1.59$0.60$0.47$0.12
2012Summary only. Only limited summary data is available for this year.$0.53$2.23$1.71$0.71$0.47$0.24
2011Summary only. Only limited summary data is available for this year.$0.28$2.23$1.95$0.79$1.00$0.20