The Karnes Memorial Fund
The Karnes Memorial Fund is a private foundation based in Fairbury, Illinois. Its 2025 filing reports scholarship grants to graduates of Prairie Central Community Unit School District #8, which serves Fairbury, Forrest, and Chatsworth, Illinois.
The Karnes Memorial Fund at a glance
In short: The Karnes Memorial Fund gave $178K across 44 grants in 2025 (avg $4K), mostly in Illinois. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $177,650
- +60.6% vs 2024
- Grants made (2025)
- 44
- -12.0% vs 2024
- Average grant
- $4,038
- +82.4% vs 2024
- Median grant
- $4,900
- Total assets
- $969,363
- -2.3% vs 2024
- Primary geography
- Illinois (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
How to apply to The Karnes Memorial Fund
- How to Apply
-
The foundation states that it does not restrict giving to preselected organizations. Applicants must submit general background information, school and community activities, and parents’ financial analysis. The filing names the Karnes Memorial Fund Board of G as the contact. Applicants must be graduates of Prairie Central Community Unit School District #8.
- Review Cycle
- March 1.
- Deadline
- March 1.
- Contact
Application contact: The Karnes Memorial Fund Board Of G
Mailing address: PO Box 302, Fairbury, IL 61739
Phone: (815) 692-2302
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Karnes Memorial Fund funds
How this funder distributes its grants
Grant Size Distribution
219 grants across all recorded years
The most common grant size was under $50K: 219 grants of 219 (100%).
Geographic Focus
Where this funder awards grants
All reported 2025 grant dollars went to recipients in Illinois.
Grant Distribution by State
Share of 2025 grant dollars across all 44 itemized grants.
Cities
How The Karnes Memorial Fund gives
- Giving grew 64% from 2022 to 2025. Method
- In 2025 it paid out 99% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. 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 2020 to 2025, annual grant giving ranged from $108K (2022) to $178K (2025). In 2025 it made 44 grants totaling $178K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 44 individual scholarships Recipients not named | — | $177,650 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2025 | $969,363 | $206,981 | $229,806 | $177,650 | 44 | $193,534 | $168,881 | $194,728 |
| 2024 | $992,188 | $156,125 | $160,633 | $110,650 | 50 | $126,581 | $121,691 | $194,164 |
| 2023 | $996,696 | $155,418 | $167,385 | $110,400 | 40 | $126,422 | $115,666 | $126,124 |
| 2022 | $1,008,663 | $181,570 | $163,497 | $108,315 | 39 | $126,235 | $147,582 | $127,284 |
| 2021 | $990,590 | $241,115 | $153,116 | $108,450 | 46 | $121,986 | $209,786 | $124,852 |
| 2020 | $902,591 | $134,342 | $170,858 | $111,675 | 53 | — | $90,727 | $125,309 |
Under IRS private-foundation payout rules, The Karnes Memorial Fund reported a distributable amount of $195K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Grantmaking
In filing year 2025, the fund reported 44 grants totaling $177,650. Grants ranged from $900 to $5,400, with a median of $4,900. The listed 2025 grants were for scholarships.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Thomas L Ladeairous as chairman and Daryl Evans, Bank of Pontiac, and Naddene Pilgrim as trustees.
The Karnes Memorial Fund is led by Thomas L. Ladeairous, Chairman on every filing since 2020; 1 of 4 officers listed in 2025 is compensated.
Officers on the 2025 filing
Thomas L. Ladeairous
Chairman
On filings since 2020
5 hrs/week
No compensation reported
Bank Of Pontiac
Trustee
On filings since 2020
5 hrs/week
$9K (2020) → $11K (2025)
Daryl Evans
Trustee
On filings since 2020
5 hrs/week
No compensation reported
Naddene Pilgrim
Trustee
On filings since 2020
5 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $11K, to Bank of Pontiac (Trustee).
Frequently asked questions about The Karnes Memorial Fund
How much does The Karnes Memorial Fund give each year?
The Karnes Memorial Fund gave $178K across 44 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $111K across 50 grants.
What is The Karnes Memorial Fund's typical grant size?
The Karnes Memorial Fund's median grant in 2025 was $4,900, and its average grant was $4,038, across 44 grants on its 2025 IRS Form 990-PF.
Where does The Karnes Memorial Fund give grants?
The Karnes Memorial Fund gives mostly in Illinois: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there.
Does The Karnes Memorial Fund give general operating support?
Not in 2025: none of the 44 grants with a stated purpose on The Karnes Memorial Fund's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarships" (44 grants).
How large is The Karnes Memorial Fund?
The Karnes Memorial Fund reported $969K in total assets on its 2025 IRS Form 990-PF. It paid out $194K in qualifying distributions that year, against a required minimum of $195K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
How do I apply for a grant from The Karnes Memorial Fund?
The foundation states that it does not restrict giving to preselected organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Karnes Memorial Fund's EIN?
The Karnes Memorial Fund's EIN (Employer Identification Number) is 37-6243213. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 12, 2026)
- IRS filings on file for fiscal years 2020–2024
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