The Karnes Memorial Fund
The Karnes Memorial Fund is a private foundation based in Fairbury, Illinois. The fund operates with Bank of Pontiac serving as trustee and is classified as a 501(c)(3) organization.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$992K
-0.5% YoY
Annual Giving
$111K
+0.2% YoY
Grant Count
50
+25.0% YoY
Avg Grant Size
$2K
-19.8% YoY
Under IRS private-foundation payout rules, The Karnes Memorial Fund reported a distributable amount of $194K for 2024 — the minimum it must pay out in qualifying distributions.
Grantmaking
The foundation maintains modest grant-making activity with the following financial profile:
Grant Range
** $1,150–$4,075
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Geographic Focus
Where this funder awards grants
The foundation's funding priorities are primarily concentrated in Illinois, with particular activity in the Fairbury area.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Based on the most recent IRS Form 990 filing (2024):
- Total Assets: $992,188
- Total Giving: $110,650
The foundation maintains Form 990 filings available for review covering fiscal years 2020 through 2024.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $992,188 | $996,696 | $1,008,663 |
| Revenue | $156,125 | $155,418 | $181,570 |
| Expenses | $160,633 | $167,385 | $163,497 |
| Qualifying Distributions | $126,581 | $126,422 | $126,235 |
| Net Investment Income | $121,691 | $115,666 | $147,582 |
| Distributable Amount | $194,164 | $126,124 | $127,284 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
225 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Katherine E Elbert ($3,500), Conner J Haab ($3,500), Haley M Slagel ($3,500).
| Recipient | Purpose | Amount |
|---|---|---|
| CADEN P ADDIS FAIRBURY, IL | SCHOLARSHIPS | $1,775 |
| EMMA C BACHTOLD FAIRBURY, IL | SCHOLARSHIPS | $1,775 |
| IZABELLE R BEHRENDS FAIRBURY, IL | SCHOLARSHIPS | $1,150 |
| TYLER J CURL FAIRBURY, IL | SCHOLARSHIPS | $1,775 |
| ELLORIE G DRACH PONTIAC, IL | SCHOLARSHIPS | $1,775 |
| CLARISSA G DUNAHEE FAIRBURY, IL | SCHOLARSHIPS | $1,150 |
| ADELINE E KILGUS FORREST, IL | SCHOLARSHIPS | $1,150 |
| AUDREY E LEMAN FAIRBURY, IL | SCHOLARSHIPS | $1,775 |
| KARI G LEMAN FORREST, IL | SCHOLARSHIPS | $1,775 |
| SOPHIE G MUSSER CHENOA, IL | SCHOLARSHIPS | $1,775 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| THOMAS L LADEAIROUS | CHAIRMAN | 5 | — |
| DARYL EVANS | TRUSTEE | 5 | — |
| BANK OF PONTIAC | TRUSTEE | 5 | $11,765 |
| NADDENE PILGRIM | TRUSTEE | 5 | — |
Frequently Asked Questions
How do I apply for a grant from The Karnes Memorial Fund?
The foundation maintains modest grant-making activity with the following financial profile: • **Total Assets:** $992,188 • **Total Annual Giving:** $110,650 • **Typical Grant Range:** $1,150–$4,075 The fund's grant-making focuses on philanthropy, voluntarism, and grantmaking, with primary activity in Illinois.
Where does The Karnes Memorial Fund make grants?
The foundation's funding priorities are primarily concentrated in Illinois, with particular activity in the Fairbury area.
What size grants does The Karnes Memorial Fund award?
In 2024, The Karnes Memorial Fund awarded 50 grants totaling $111K — an average of about $2K per grant, based on its IRS Form 990 filings.
How much is The Karnes Memorial Fund required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Karnes Memorial Fund reported a distributable amount of $194K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Karnes Memorial Fund's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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