Corey Foundation
- Assets
- $24.6m
- Revenue
- $1.8m
- Investments
- $21.3m
- Employees
- 0
- Location
- Riverhead, NY
- Founding
- 11/1998
- Data as of
- 12/2020
- EIN
- 11-3453820
Organization Overview
Corey Foundation is located in Riverhead, NY. The organization was established in 1998. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corey Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Corey Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $4.7m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Corey Foundation has awarded 96 individual grants totaling $12,335,861. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Corey Trustee | 6 | $0 | |
Emilie Corey Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,120,949 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $716,866 |
| Capital Gain Net Income | $716,866 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,837,815 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $1,012 |
| Taxes | $51,337 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $29,454 |
| Total operating and administrative expenses | $84,903 |
| Contributions, gifts, grants paid | $4,583,756 |
| Total expenses and disbursements | $4,668,659 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $622,731 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $30,601 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,303,429 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,692,000 |
| Total assets | $24,635,653 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Corey Foundation has awarded $4,583,756 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
PECONIC BAY MEDICAL CENTER FOUNDATION PURPOSE: HEALTH CARE | $3,935,000 |
STONY BROOK UNIVERSITY FOUNDATION PURPOSE: EDUCATION | $289,756 |
New York, NY PURPOSE: ARTS | $200,000 |
New York, NY PURPOSE: HOMELESSNESS | $25,000 |
WORLD CENTRAL KITCHEN PURPOSE: HUMANITARIAN | $25,000 |
MAUREEN'S HAVEN PURPOSE: GENERAL | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Feeding Pennsylvania Lemoyne, PA | $10,818,120 | $21,841,545 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |
Boston Charitable Trust Fund Boston, MA | $1,173,216 | $4,494,143 |
Nfa Foundation Inc Norwich, CT | $77,129,817 | $5,415,738 |
American Friends Of B Nai Levy Foundation Brooklyn, NY | $493,786 | $13,431,000 |
Rf Catalytic Capital Inc New York, NY | $241,603,034 | $246,273,218 |
University Of Pittsburgh And Upmc Medical And Health Sciences Fdn Pittsburgh, PA | $0 | $12,874,250 |
Freedom Fund Brooklyn, NY | $51,719,352 | $51,201,158 |
American Friends Of Leket Israel Inc Teaneck, NJ | $3,165,709 | $12,922,662 |
Provision Ministry Inc Westborough, MA | $833,220 | $12,247,682 |