The Korners Folly Foundation

Organization Overview

The Korners Folly Foundation is located in Kernersville, NC. The organization was established in 1997. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, Korners Folly Foundation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korners Folly 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 09/2023, Korners Folly Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 31.2% each year . All expenses for the organization totaled $266.8k during the year ending 09/2023. While expenses have increased by 5.8% per year over the past 8 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO PRESERVE, RESTORE AND MAINTAIN THE HISTORIC STRUCTURE

Describe the Organization's Program Activity:

Part 3 - Line 4a

SHARE THE HISTORIC RELEVANCE OF THE HOUSE WITH THE PUBLIC. 7,218 PEOPLE TOURED THE HOME DURING THE FISCAL YEAR THROUGH SELF-GUIDED AND GROUP TOURS. TOURS ARE ALSO PROVIDED TO SCHOOL GROUPS AND OTHER GROUPS. 17 EDUCATIONAL PROGRAMS WERE HELD DURING THE FISCAL YAR


EVALUATION AND RESTORATION: THE HISTORIC BUILDING AND GROUPS ARE CONTINUOUSLY EVALUATED FOR STRUCTURAL AND PRESERVATION NEEDS. PRESERVATION PROJECTS INCLUDED REPLACEMENT OF 2ND AND 3RD FLOOR HVAC UNITS AND REPLACEMENT OF ROOF HATCHES, AND WATER DAMAGE TO PLASTER AND PAINT WAS REPAIRED FOR TWO ROOMS THIS YEAR.


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Board, Officers & Key Employees

Name (title)Compensation
Susan Fradenburg
Vice President
$0
Jason Grubbs
Vice President
$0
Suzanne Hill
Director
$0
Betty Korner-Atkins
Secretary
$0
Monte Long
Director
$0
Tom Mcdaniel
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$11,446
Fundraising events$0
Related organizations$0
Government grants $258,000
All other contributions, gifts, grants, and similar amounts not included above$1,250,548
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,519,994
Total Program Service Revenue$91,818
Investment income $27,910
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $2,182
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $21,962
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $8,909
Miscellaneous Revenue$0
Total Revenue $1,671,982

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