The Korein Foundation
- Assets
- $8.9m
- Revenue
- $1.6m
- Investments
- $8.4m
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 03/1999
- Data as of
- 12/2021
- EIN
- 13-7180474
Organization Overview
The Korein Foundation is located in Philadelphia, PA. The organization was established in 1999. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Korein 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 12/2021, Korein Foundation generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $652.0k during the year ending 12/2021. While expenses have increased by 0.4% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Korein Foundation has awarded 35 individual grants totaling $564,500. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Korein Trustee | 1 | $0 | |
James Korein Trustee | 1 | $0 | |
Lawrence N Friedland ESQ Trustee | 1 | $0 | |
Beth Korein Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $207,290 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,422,809 |
| Capital Gain Net Income | $1,422,809 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $12,803 |
| Total Revenue | $1,642,902 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,363 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $750 |
| Total operating and administrative expenses | $87,513 |
| Contributions, gifts, grants paid | $564,500 |
| Total expenses and disbursements | $652,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $460,450 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $8,398,164 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,858,614 |
| 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, The Korein Foundation has awarded $564,500 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: UNRESTRICTED | $80,000 |
New York, NY PURPOSE: WORK IN THE GENOMICS AREA | $50,000 |
Goldendale, WA PURPOSE: UNRESTRICTED | $50,000 |
COUNT ME IN FOR WOMEN'S PURPOSE: UNRESTRICTED | $40,000 |
New York, NY PURPOSE: STIPENDS AND | $35,000 |
NEW YORK UNIVERSITY - LANGONE HEALTH - PURPOSE: REGENERATION OF THE CARDIAC | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
George Gund Foundation Cleveland, OH | $524,945,754 | $120,923,136 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |