Kernwood Scholarship Foundation
Kernwood Scholarship Foundation is a private foundation, based in Swampscott, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $68K in total assets. In 2024, it awarded 1 grant totaling $25K. Net investment income was $195.
Kernwood Scholarship Foundation at a glance
In short: Kernwood Scholarship Foundation gave $25K across 1 grant in 2024 (avg $25K), mostly in Massachusetts. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $24,500
- +11.4% vs 2023
- Grants made (2024)
- 1
- +0.0% vs 2023
- Average grant
- $24,500
- +11.4% vs 2023
- Median grant
- $24,500
- Total assets
- $67,840
- -11.5% vs 2023
- Primary geography
- Massachusetts (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Kernwood Scholarship Foundation funds
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was Scholarship Recipients on File ($25K).
Grant Size Distribution
4 grants across all recorded years
The most common grant size was under $50K: 4 grants of 4 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
States
Cities
How Kernwood Scholarship Foundation gives
- Giving grew 81% from 2021 to 2024. Method
- In 2024 it paid out 742% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2024, annual grant giving ranged from $14K (2021) to $25K (2024). In 2024 it made 1 grant totaling $25K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Scholarship Recipients on File Salem, MA | College Scholarship | $24,500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $67,840 | $15,745 | $24,538 | $24,500 | 1 | $24,500 | $195 | $3,302 |
| 2023 | $76,633 | $18,483 | $22,035 | $22,000 | 1 | $22,000 | $213 | $3,551 |
| 2022 | $80,185 | $18,128 | $18,785 | $18,750 | 1 | $18,750 | $53 | $3,647 |
| 2021 | $80,842 | $16,415 | $13,535 | $13,500 | 1 | $13,500 | $15 | $3,710 |
| 2020 | $77,962 | $14,871 | $35 | — | — | — | $21 | $3,011 |
Under IRS private-foundation payout rules, Kernwood Scholarship Foundation reported a distributable amount of $3K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Kernwood Scholarship Foundation's 2024 filing lists 2 officers; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Scott A. Sagan
Trustee
On filings since 2020
0.1 hrs/week
No compensation reported
Steve Solomon
Trustee
On filings since 2021
0.1 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Kernwood Scholarship Foundation
How much does Kernwood Scholarship Foundation give each year?
Kernwood Scholarship Foundation gave $25K across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $22K across 1 grant.
How large is Kernwood Scholarship Foundation?
Kernwood Scholarship Foundation reported $68K in total assets on its 2024 IRS Form 990-PF. It paid out $25K in qualifying distributions that year, against a required minimum of $3K (roughly 5% of its investment assets).
Where does Kernwood Scholarship Foundation operate?
Kernwood Scholarship Foundation has awarded grants in Massachusetts.
What is Kernwood Scholarship Foundation's EIN?
Kernwood Scholarship Foundation's EIN (Employer Identification Number) is 22-3215746. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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