Jane And Leonard Korman Familyfoundation
- Assets
- $8.4m
- Revenue
- $1.3m
- Investments
- $7.9m
- Employees
- 0
- Location
- Trevose, PA
- Founding
- 10/2006
- Data as of
- 12/2021
- EIN
- 20-4253701
Organization Overview
Jane And Leonard Korman Familyfoundation is located in Trevose, PA. The organization was established in 2006. 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. Jane And Leonard Korman Familyfoundation 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, Jane And Leonard Korman Familyfoundation generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Jane And Leonard Korman Familyfoundation has awarded 220 individual grants totaling $15,789,065. 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 |
|---|---|---|---|
Leonard Korman President | 5 | $0 | |
Susan Korman Schurr Director | 5 | $0 | |
Alison Korman Feldman Director | 5 | $0 | |
Catherine Korman Altman Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $25,488 |
| Dividends & Interest | $150,750 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,162,574 |
| Capital Gain Net Income | $1,162,574 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,018 |
| Total Revenue | $1,342,830 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,717 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $291 |
| Total operating and administrative expenses | $139,025 |
| Contributions, gifts, grants paid | $1,240,180 |
| Total expenses and disbursements | $1,379,205 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $572,790 |
| 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 | $2,222 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,530 |
| Total assets | $8,447,314 |
| 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, Jane And Leonard Korman Familyfoundation has awarded $1,240,180 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
JEFFERSON UNIVERSITY -RESPIRATORY CENTER - 4TH OF 7 (MULTI YEAR) PURPOSE: SUPPORT THE HOSPITAL SO THEY CAN PROVIDE THE BEST PATIENT CARE. | $500,000 |
NORTON MUSEUM OF ART- FINAL PLEDGE (MULTI YEAR) PURPOSE: SUPPORT MUSEUM IN ITS GOAL TO PRESERVE, COLLECT, EXHIBIT, AND INTERPRET ART AS WELL AS EDUCATE THE COMMUNITY | $500,000 |
JEFFERSON HOSPITAL PURPOSE: SUPPORT THE HOSPITAL SO THEY CAN PROVIDE THE BEST PATIENT CARE. | $48,500 |
AEMC - ALBERT EINSTEIN MEDICAL CENTER PURPOSE: ASSIST AEMC CONCEIVE AND IMPLEMENT RESEARCH INITIATIVES AND PROGRAMS TO POSITIVELY IMPACT PATIENT CARE. | $25,000 |
West Palm Beach, FL PURPOSE: SUPPORT MUSEUM IN ITS GOAL TO PRESERVE, COLLECT, EXHIBIT, AND INTERPRET ART AS WELL AS EDUCATE THE COMMUNITY | $25,000 |
Philadelphia, PA PURPOSE: HELP MUSEUM IN ITS EFFORTS TO PRESERVE, ENHANCE, INTERPRET, AND EXTEND THE REACH OF VISUAL ARTS AS A SOURCE OF EDUCATION. | $23,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |