Korth Family Foundation Inc
- Assets
- $6.4m
- Revenue
- $444.9k
- Investments
- $5.9m
- Employees
- 0
- Location
- Ada, MI
- Founding
- 04/1997
- Data as of
- 12/2023
- EIN
- 65-0737345
Organization Overview
Korth Family Foundation Inc is located in Ada, MI. The organization was established in 1997. 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. Korth Family Foundation Inc 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 12/2023, Korth Family Foundation Inc generated $444.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $248.6k during the year ending 12/2023. While expenses have increased by 0.7% 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.
Since 2016, Korth Family Foundation Inc has awarded 88 individual grants totaling $2,188,368. 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 |
|---|---|---|---|
Thomas A Korth President | 0 | $0 | |
James W Korth Director | 0 | $0 | |
Colleen Korth Director | 0 | $0 | |
Jennifer Korth-Llorente Secretary | 0 | $0 | |
Paul Korth Director | 0 | $0 | |
Kim Moore Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $421,535 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $22,029 |
| Capital Gain Net Income | $22,029 |
| Net ST Capital Gain | $19,022 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,371 |
| Total Revenue | $444,935 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $5,167 |
| Contributions, gifts, grants paid | $243,400 |
| Total expenses and disbursements | $248,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $555,393 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,421,035 |
| Accounts payable and accrued expenses | $336 |
| 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 | $336 |
Grants Awarded
Over the last fiscal year, Korth Family Foundation Inc has awarded $243,400 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
MOTIVATIONAL MISSIONS PURPOSE: GENERAL CONTRIBUTION TO CHARITY | $25,000 |
THE KIWANIS OF LITTLE HAVANA FOUNDA PURPOSE: GENERAL CONTRIBUTION TO CHARITY | $25,000 |
CEIBOBAMBA PURPOSE: GENERAL CONTRIBUTION TO CHARITY | $25,000 |
SUNDARI FOUNDATION INC DBA LOTUS H PURPOSE: GENERAL CONTRIBUTION TO CHARITY | $10,000 |
WOMEN'S CLUB OF COCONUT GROVE PURPOSE: GENERAL CONTRIBUTION TO CHARITY | $3,500 |
VILLAGES CDC PURPOSE: GENERAL CONTRIBUTION TO CHARITY | $10,000 |