James A & Faith Knight Foundation

Ann Arbor, MI
Tax-exempt since May 1999
EIN: 38-3465904

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Grantmaking Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$1.3M (2023)

Expenses

$175k (2023)

Total Assets

$12.5M (2023)

Total Liabilities

$3.01k (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

$1,304,972

Expenses

$175,211

Net Income

$1,129,761

Net Assets

$12,514,265

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$67,695	5.2%
Dividends	$359,349	27.5%
Sales of Assets	$877,928	67.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$928,310	> 100%
Compensation of Officers*	$45,000	25.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,517,276
Total Liabilities	$3,011
Net Assets	$12,514,265

Compensation

Key Employees and Officers	Compensation	Other
Carol Knight Drain (President)	$35,000	$0
Scott Drain (Treasurer)	$10,000	$0
Christopher Ballard (Secretary)	$0	$0

990-PF

Filed on May 15, 2024

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2022

Revenue

$766,675

Expenses

$1,134,473

Net Income

-$367,798

Net Assets

$12,234,341

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$43,163	5.6%
Dividends	$434,031	56.6%
Sales of Assets	$270,757	35.3%
Other Income	$18,724	2.4%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,024,352	90.3%
Compensation of Officers*	$40,000	3.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,234,571
Total Liabilities	$230
Net Assets	$12,234,341

Compensation

Key Employees and Officers	Compensation	Other
Carol Knight Drain (President)	$30,000	$0
Scott Drain (Treasurer)	$10,000	$0
Christopher Ballard (Secretary)	$0	$0

990-PF

Filed on May 30, 2023

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2021

Revenue

$1,157,238

Expenses

$972,325

Net Income

$184,913

Net Assets

$12,623,787

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$395,334	34.2%
Sales of Assets	$761,347	65.8%
Other Income	$557	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$854,363	87.9%
Compensation of Officers*	$40,000	4.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,624,430
Total Liabilities	$643
Net Assets	$12,623,787

Compensation

Key Employees and Officers	Compensation	Other
Carol Knight Drain (President)	$30,000	$0
Scott Drain (Treasurer)	$10,000	$0
Christopher Ballard (Secretary)	$0	$0

990-PF

Filed on May 11, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2020

Revenue

$163,834

Expenses

$942,566

Net Income

-$778,732

Net Assets

$12,447,010

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$355,448	> 100%
Sales of Assets	$0
Other Income	$1,033	0.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$846,846	89.8%
Compensation of Officers*	$40,000	4.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,449,694
Total Liabilities	$2,684
Net Assets	$12,447,010

Compensation

Key Employees and Officers	Compensation	Other
Carol Knight Drain (President)	$30,000	$0
Scott Drain (Treasurer)	$10,000	$0
Christopher Ballard (Secretary)	$0	$0

990-PF

Filed on May 17, 2021

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2019

Revenue

$1,014,196

Expenses

$924,385

Net Income

$89,811

Net Assets

$13,225,742

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$410,304	40.5%
Sales of Assets	$471,383	46.5%
Other Income	$132,509	13.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$834,524	90.3%
Compensation of Officers*	$30,000	3.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,227,403
Total Liabilities	$1,661
Net Assets	$13,225,742

Compensation

Key Employees and Officers	Compensation	Other
Carol A Knight Drain (President)	$20,000	$0
Scott Drain (Treasurer)	$10,000	$0
Christopher Ballard (Secretary)	$0	$0

990-PF

Filed on July 28, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

View Filing (2 of 2) PDF (2 of 2)

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2018

Revenue

$872,836

Expenses

$888,060

Net Income

-$15,224

Net Assets

$13,117,692

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$406,442	46.6%
Sales of Assets	$419,012	48.0%
Other Income	$47,382	5.4%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$798,776	89.9%
Compensation of Officers*	$30,000	3.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,119,889
Total Liabilities	$2,197
Net Assets	$13,117,692

Compensation

Key Employees and Officers	Compensation	Other
Carol A Knight Drain (President)	$20,000	$0
Scott Drain (Treasurer)	$10,000	$0
Christopher Ballard (Secretary)	$0	$0

990-PF

Filed on June 13, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2017

Revenue

$1,869,451

Expenses

$918,619

Net Income

$950,832

Net Assets

$13,107,353

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$388,644	20.8%
Sales of Assets	$1,394,543	74.6%
Other Income	$86,264	4.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$792,970	86.3%
Compensation of Officers*	$30,000	3.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,118,554
Total Liabilities	$11,201
Net Assets	$13,107,353

Compensation

Key Employees and Officers	Compensation	Other
Carol A Knight Drain (President)	$20,000	$0
Scott Drain (Treasurer)	$10,000	$0
Christopher Ballard (Secretary)	$0	$0

990-PF

Filed on June 26, 2018

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2016

Revenue

$469,325

Expenses

$930,969

Net Income

-$461,644

Net Assets

$12,156,521

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$382,989	81.6%
Sales of Assets	$50,501	10.8%
Other Income	$35,835	7.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$793,907	85.3%
Compensation of Officers*	$30,000	3.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,161,397
Total Liabilities	$4,876
Net Assets	$12,156,521

Compensation

Key Employees and Officers	Compensation	Other
Carol A Knight Drain (President)	$20,000	$0
Scott Drain (Treasurer)	$10,000	$0
Christopher Ballard (Secretary)	$0	$0

990-PF

Filed on June 27, 2017

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2015

Revenue

$935,761

Expenses

$868,837

Net Income

$66,924

Net Assets

$12,618,165

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$384,221	41.1%
Sales of Assets	$516,957	55.2%
Other Income	$34,583	3.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$701,169	80.7%
Compensation of Officers*	$30,000	3.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,620,071
Total Liabilities	$1,906
Net Assets	$12,618,165

Compensation

Key Employees and Officers	Compensation	Other
Carol A Knight Drain (President)	$20,000	$0
Scott Drain (Treasurer)	$10,000	$0
Christopher Ballard (Secretary)	$0	$0

990-PF

Filed on June 17, 2016

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2014

Revenue

$1,172,005

Expenses

$951,666

Net Income

$220,339

Net Assets

$12,551,241

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$366,953	31.3%
Sales of Assets	$536,812	45.8%
Other Income	$268,240	22.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$717,918	75.4%
Compensation of Officers*	$30,000	3.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,637,429
Total Liabilities	$86,188
Net Assets	$12,551,241

Compensation

Key Employees and Officers	Compensation	Other
Carol A Knight Drain (President)	$20,000	$0
Scott Drain (Treasurer)	$10,000	$0
Christopher Ballard (Secretary)	$0	$0

990-PF

Filed on June 1, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2013

Revenue

$1,443,677

Expenses

$872,904

Net Income

$570,773

Net Assets

$12,330,902

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$418,969	29.0%
Sales of Assets	$405,088	28.1%
Other Income	$619,620	42.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$723,256	82.9%
Compensation of Officers*	$30,000	3.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,337,615
Total Liabilities	$6,713
Net Assets	$12,330,902

Compensation

Key Employees and Officers	Compensation	Other
Carol A Knight Drain (President)	$20,000	$0
Scott Drain (Treasurer)	$10,000	$0
Christopher Ballard (Secretary)	$0	$0

990-PF

Filed on June 11, 2014

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2012

Revenue

$875,145

Expenses

$881,054

Net Income

-$5,909

Net Assets

$12,341,718

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$404,589	46.2%
Sales of Assets	$191,993	21.9%
Other Income	$278,563	31.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$753,099	85.5%
Compensation of Officers*	$30,000	3.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,345,775
Total Liabilities	$4,057
Net Assets	$12,341,718

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2011

Revenue

$831,638

Expenses

$800,589

Net Income

$31,049

Net Assets

$12,409,279

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$402,298	48.4%
Sales of Assets	$189,876	22.8%
Other Income	$239,464	28.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$676,133	84.5%
Compensation of Officers*	$15,000	1.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,411,569
Total Liabilities	$2,290
Net Assets	$12,409,279

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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James A & Faith Knight Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $1.3M (2023)

Expenses $175k (2023)

Total Assets $12.5M (2023)

Total Liabilities $3.01k (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Revenue

$1.3M (2023)

Expenses

$175k (2023)

Total Assets

$12.5M (2023)

Total Liabilities

$3.01k (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
2003

Fiscal Year Ending Dec.
2002

Fiscal Year Ending Dec.
2001