Quick charity verification for Corey Foundation (EIN: 113453820)
Verdict: Corey Foundation appears trustworthy
85/100Mission Score
$6.0MRevenue
$26.8MAssets
2Red Flags
4Strengths
Red Flags
Lack of detailed expense breakdown prevents full spending efficiency analysis
Significant year-over-year fluctuations in revenue and expenses without clear explanation
Strengths
Consistent reporting of 0% officer compensation, indicating high efficiency in executive pay
Substantial and stable asset base, currently $26,838,016, providing financial security
Minimal liabilities ($0 or $1) across all reported periods, indicating strong financial management
Long filing history (10 filings) demonstrates sustained operation and compliance
Spending Breakdown
How Corey Foundation allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
10%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Corey Foundation
Is Corey Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Corey Foundation (EIN: 113453820) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Corey Foundation a good charity to donate to?
Corey Foundation has a Mission Score of 85/100. Revenue: $6.0M. Assets: $26.8M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Corey Foundation?
The Employer Identification Number (EIN) for Corey Foundation is 113453820. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Corey Foundation spend its money?
Corey Foundation allocates 80% to programs, 10% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Corey Foundation's tax-exempt status?
You can verify Corey Foundation's tax-exempt status using EIN 113453820 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Corey Foundation demonstrates a generally stable financial position with significant assets, currently at $26,838,016. Revenue has fluctuated over the past decade, with the latest reported revenue at $5,985,761. The organization has consistently reported zero officer compensation across all available filings, which is a strong indicator of transparency and a commitment to directing funds towards its mission rather than executive salaries. However, without a detailed breakdown of expenses (program, administrative, fundraising) from the provided data, a precise assessment of spending efficiency is challenging. The consistent reporting of minimal liabilities ($0 or $1) suggests sound financial management regarding debt.
The foundation's financial health appears robust, supported by substantial assets. While revenue has varied, the organization has managed to maintain its asset base. The absence of officer compensation is a notable positive for transparency and efficiency. To fully evaluate spending efficiency, a more granular view of expense allocation would be necessary. Overall, the available data points to a financially stable organization with a commendable approach to executive compensation.