KNRF Financials

2022-23 KNRF Audit

2021-22 KNRF Audit

2020-21 KNRF Audit

The figure below shows both the income and the expenses for I-I District KNRF for a typical year.  Focusing on EXPENSES, note that $0.91 of every $1.00 goes directly into the hands of the researchers.  The grants provided to researchers through I-I District KNRF stipulate that all of the grant monies must be spent at the direction of the researcher – none of the monies must be designated to support administration or the sponsoring hospital or university.  The largest expense not related to the research is paying for the annual audit.

Looking at the INCOME, we had a shortage of $51,000 driven by a reduction in support from Kiwanis family clubs (Kiwanis Clubs, Key Clubs, and Bowl-A-Thons) due to COVID pandemic.  Support from Kiwanis family clubs amounted to about ⅓ the total income.  I-I District KNRF is invested and income from those investments can change from year to year based on market volatility.  Funds from endowment reflect the transfer of funds from the Luis V. Amador investments.  Each year between 3% – 5% of the three year average actual value of the Amador endowment fund is transferred into the I-I District KNRF operating account.