Is The Korein Foundation Legit?

Spending Breakdown

How The Korein Foundation allocates its funds across programs, administration, and fundraising.

90%

Program Spending

Healthy — majority goes to mission

10%

Admin Costs

Reasonable — admin costs in check

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 The Korein Foundation

Is The Korein Foundation a legitimate charity?

Based on AI analysis of IRS 990 filings, The Korein Foundation (EIN: 137180474) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.

Is The Korein Foundation a good charity to donate to?

The Korein Foundation has a Mission Score of 85/100. Revenue: $3.5M. Assets: $9.2M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for The Korein Foundation?

The Employer Identification Number (EIN) for The Korein Foundation is 137180474. 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 The Korein Foundation spend its money?

The Korein Foundation allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify The Korein Foundation's tax-exempt status?

You can verify The Korein Foundation's tax-exempt status using EIN 137180474 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 Korein Foundation demonstrates a consistent financial structure as a grant-making organization, with assets steadily growing over the past decade, reaching $9,207,559 in the latest filing. Their revenue has fluctuated significantly year-to-year, from a low of $264,837 in 2013 to a high of $1,642,902 in 2021, indicating reliance on varying funding sources or investment returns. Despite these fluctuations, the organization has maintained minimal liabilities, consistently reported as $1 or $0, which is a strong indicator of financial stability and low debt burden.

Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the organization consistently reports 0% officer compensation across all filings, suggesting a lean operational structure at the executive level. The NTEE code T20 (Private Grantmaking Foundations) implies that the majority of their expenses would typically be in program grants, but this cannot be confirmed with the provided data.

Transparency appears to be high regarding executive compensation, with no reported officer compensation. The consistent filing of IRS Form 990 over a decade also points to good governance and adherence to reporting requirements. However, without a detailed functional expense statement, the true allocation of funds towards programs versus overhead remains opaque, which is a common limitation for private foundations that are not required to itemize these categories in the same way public charities are.

Verdict: The Korein Foundation appears trustworthy

Red Flags

Strengths