Corey Foundation
Corey Foundation maintains substantial assets with zero reported officer compensation.
EIN: 113453820 · Riverhead, NY · NTEE: T30Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.0M |
| Total Expenses | $1.9M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $26 |
| Net Assets | $26.5M |
| Transparency Score | 85/100 |
Is Corey Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Corey Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Corey Foundation
Corey Foundation (EIN: 113453820) is a nonprofit organization based in Riverhead, NY, classified under NTEE code T30Z. The organization reported total revenue of $6.0M and total assets of $26.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Corey Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Corey Foundation is a mid-size nonprofit that has been operating for 28 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 13.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.0M |
| Total Expenses | $1.9M |
| Surplus / Deficit | +$1.1M |
| Total Assets | $26.5M |
| Total Liabilities | $1 |
| Net Assets | $26.5M |
| Operating Margin | 36.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 167.9 months |
Financial Health Grade: A
In 2023, Corey Foundation reported a surplus of $1.1M with revenue exceeding expenses, holds 167.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Corey Foundation's revenue has grown at a compound annual growth rate (CAGR) of 13.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -37.3% | -64.2% | +1.0% |
| 2022 | +21.4% | +427.7% | -1.0% |
| 2021 | +112.8% | -78.5% | +7.7% |
| 2020 | -20.9% | +27.8% | -10.9% |
| 2019 | -10.0% | +188.2% | -4.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Corey Foundation with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Corey Foundation allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.1M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Corey Foundation consistently reports 0% officer compensation across all ten available filings, indicating that no salaries are paid to its officers, which is highly unusual for an organization of its size with assets exceeding $26 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Corey Foundation's IRS 990 filings:
- Lack of detailed expense breakdown prevents full spending efficiency analysis
- Significant year-over-year fluctuations in revenue and expenses without clear explanation
Strengths
The following positive indicators were identified for Corey Foundation:
- 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
Frequently Asked Questions about Corey Foundation
Is Corey Foundation a legitimate charity?
Corey Foundation (EIN: 113453820) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $6.0M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Corey Foundation spend its money?
Corey Foundation directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Corey Foundation tax-deductible?
Corey Foundation is registered as a tax-exempt nonprofit (EIN: 113453820). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Corey Foundation CEO make?
Corey Foundation's highest-compensated officer earns $26 annually. The organization reported $6.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Corey Foundation's spending goes to programs?
Corey Foundation directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Corey Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Corey Foundation is above average for NTEE category T30Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Corey Foundation located?
Corey Foundation is headquartered in Riverhead, New York and files with the IRS under EIN 113453820. It is classified under NTEE code T30Z.
How many years of IRS 990 filings does Corey Foundation have?
Corey Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $6.0M in total revenue.
What is the specific mission of the Corey Foundation (NTEE Code T30Z)?
The NTEE code T30Z indicates 'Philanthropy, Voluntarism, and Grantmaking Foundations - Other.' To understand the specific mission, one would need to review the organization's public mission statement or program descriptions, as the code is broad.
How does the Corey Foundation manage to operate without any reported officer compensation?
The consistent reporting of 0% officer compensation suggests that officers may be volunteers, or their compensation is covered by an external entity, or reported under a different expense category not specified as 'officer compensation' in the provided data. Further investigation into their operational model would be needed.
What are the primary sources of the Corey Foundation's revenue?
The provided data only lists total revenue. To determine primary sources (e.g., contributions, investment income, program service revenue), one would need to examine the detailed revenue breakdown on their IRS Form 990.
What is the reason for the significant fluctuations in annual revenue and expenses?
Revenue has ranged from $654,715 (2011) to $5,985,761 (latest), and expenses from $1,004,599 (2021) to $5,301,613 (2022). These fluctuations could be due to varying grant cycles, investment performance, or specific project-based funding. A deeper dive into their financial statements would clarify these trends.
Filing History
IRS 990 filing history for Corey Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Corey Foundation's revenue has grown by 354.8%, moving from $655K to $3.0M. Total assets increased by 40.8% over the same period, from $18.8M to $26.5M. Total functional expenses rose by 50.5%, from $1.3M to $1.9M. In its most recent filing year (2023), Corey Foundation reported a surplus of $1.1M, with revenue exceeding expenses. The organization holds $1 in liabilities against $26.5M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $26.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.0M | $1.9M | $26.5M | $1 | — | — |
| 2022 | $4.7M | $5.3M | $26.3M | $1 | — | View 990 |
| 2021 | $3.9M | $1.0M | $26.5M | $1 | — | View 990 |
| 2020 | $1.8M | $4.7M | $24.6M | $1 | — | — |
| 2019 | $2.3M | $3.7M | $27.7M | $1 | — | View 990 |
| 2015 | $2.6M | $1.3M | $29.0M | $0 | — | View 990 |
| 2014 | $4.1M | $1.2M | $26.9M | $0 | — | View 990 |
| 2013 | $2.5M | $1.1M | $23.1M | $0 | — | View 990 |
| 2012 | $1.1M | $1.2M | $18.8M | $0 | — | View 990 |
| 2011 | $655K | $1.3M | $18.8M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.0M, expenses of $1.9M, and assets of $26.5M (revenue -37.3% year-over-year).
- 2022: Revenue of $4.7M, expenses of $5.3M, and assets of $26.3M (revenue +21.4% year-over-year).
- 2021: Revenue of $3.9M, expenses of $1.0M, and assets of $26.5M (revenue +112.8% year-over-year).
- 2020: Revenue of $1.8M, expenses of $4.7M, and assets of $24.6M (revenue -20.9% year-over-year).
- 2019: Revenue of $2.3M, expenses of $3.7M, and assets of $27.7M (revenue -10.0% year-over-year).
- 2015: Revenue of $2.6M, expenses of $1.3M, and assets of $29.0M (revenue -37.2% year-over-year).
- 2014: Revenue of $4.1M, expenses of $1.2M, and assets of $26.9M (revenue +66.2% year-over-year).
- 2013: Revenue of $2.5M, expenses of $1.1M, and assets of $23.1M (revenue +115.1% year-over-year).
- 2012: Revenue of $1.1M, expenses of $1.2M, and assets of $18.8M (revenue +75.6% year-over-year).
- 2011: Revenue of $655K, expenses of $1.3M, and assets of $18.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Corey Foundation:
Data Sources and Methodology
This transparency report for Corey Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.