Core Foundation
- Assets
- $205.8k
- Revenue
- $223.0k
- Investments
- $0.0
- Employees
- 0
- Location
- St John, VI
- Founding
- 01/2012
- Data as of
- 12/2021
- EIN
- 66-0764897
Organization Overview
Core Foundation is located in St John, VI. The organization was established in 2012. According to its NTEE Classification (C32) the organization is classified as: Water Resources, Wetlands Conservation & Management, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Core 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, Core Foundation generated $223.0k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 59.0% each year . All expenses for the organization totaled $173.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE C.O.R.E. FOUNDATION INSPIRES COMMUNITIES TO BE BETTER STEWARDS OF THE ENVIRONMENT THROUGH MARINE AWARENESS EDUCATION AND HANDS ON COASTAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
"TISSUE LOSS DISEASE" LOCATED ON REEFS IN THE US VIRGIN ISLANDS. SECURED A 2 YEAR CONTRACT WITH THE GOVERMENT OF THE U.S. VIRGIN ISLANDS TO TREAT CORALS INFECTED WITH SCTLD ON ALL THREE MAJOR ISLANDS IN THE VI. CERTIFIED 51 CORAL RESTORATION STRIKE TEAM RESPONDERS TO TREAT/SURVEY CORALS FOR SCTLD. TREATED 1,153 IN 2020 AND ABOUT 7,000 IN 2021 SCTLD INFECTED CORAL COLONIES. CERFIFIED 16 LIONFISH RESPONDERS TO REMOVE THE INVASIVE PREDATOR.
RENT OUT EQUIPMENT TO FUND PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Cummings President | Officer | 4 | $0 |
Sue Littlefield Secretary | Officer | 4 | $0 |
Michael Funk Treasurer | Officer | 4 | $0 |
Jeff Miller Science Offi | Officer | 4 | $0 |
Jason Quetel Chief Of Fie | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $92,886 |
| All other contributions, gifts, grants, and similar amounts not included above | $113,195 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $206,081 |
| Total Program Service Revenue | $17,465 |
| Investment income | $31 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$581 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $222,996 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $139,769 |
| Advertising and promotion | $0 |
| Office expenses | $245 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,806 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,099 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,671 |
| Insurance | $2,217 |
| All other expenses | $0 |
| Total functional expenses | $173,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,572 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $50 |
| Net Land, buildings, and equipment | $76,148 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $205,770 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $205,770 |
| Total liabilities and net assets/fund balances | $205,770 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Core Foundation has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL USE AND/OR SPECIAL FUND/PROJECT | $20,000 |
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL USE AND/OR SPECIAL FUND/PROJECT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The University Of The Virgin Islands Charlotte Amalie, VI | $186,155,047 | $106,386,853 |
Frederiksted Health Care Inc St Croix, VI | $21,462,956 | $20,093,262 |
St Thomas East End Medical Center Corporation St Thomas, VI | $1,996,505 | $9,089,421 |