Kore Academy Inc
Kore Academy Inc. shows consistent operations with recent deficit spending, maintaining zero officer compensation.
EIN: 201530223 · Lexington, KY · NTEE: B20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $477K |
| Total Expenses | $550K |
| Program Spending | 85% |
| Net Assets | $155K |
| Transparency Score | 88/100 |
Is Kore Academy Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Kore Academy Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Kore Academy Inc
Kore Academy Inc (EIN: 201530223) is a nonprofit organization based in Lexington, KY, classified under NTEE code B20. The organization reported total revenue of $477K and total assets of $105K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kore Academy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Kore Academy Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $470K |
| Total Expenses | $550K |
| Surplus / Deficit | $-80,171 |
| Total Assets | $155K |
| Net Assets | $155K |
| Operating Margin | -17.1% |
| Months of Reserves | 3.4 months |
Financial Health Grade: B
In 2023, Kore Academy Inc reported a deficit of $80K with expenses exceeding revenue, holds 3.4 months of operating reserves (adequate).
Financial Trends
Over 13 years of filings (2011–2023), Kore Academy Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -11.2% | -0.8% | -34.1% |
| 2022 | -4.9% | +0.4% | -9.7% |
| 2021 | +21.9% | +12.2% | +1.7% |
| 2020 | -0.6% | +4.8% | +21.6% |
| 2019 | +3.1% | +8.8% | -4.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
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 Kore Academy Inc with a Mission Score of 88 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: 85%
- fundraising: 5%
According to IRS 990 filings, Kore Academy Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 deficit of $80K, with expenses exceeding revenue.
Executive Compensation Analysis
Kore Academy Inc. reports 0% officer compensation across all available filings, indicating that its leadership is entirely volunteer-based, which is highly commendable for a nonprofit of its size.
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 Kore Academy Inc's IRS 990 filings:
- Recent trend of expenses exceeding revenue (e.g., $549,705 expenses vs $469,534 revenue in 2023).
Strengths
The following positive indicators were identified for Kore Academy Inc:
- Consistent reporting of 0% officer compensation, indicating volunteer leadership.
- Long history of IRS 990 filings (13 periods), demonstrating transparency and compliance.
- Generally low liabilities across most filing periods.
- Consistent revenue generation over the past decade, indicating a stable donor base or program demand.
Frequently Asked Questions about Kore Academy Inc
Is Kore Academy Inc a legitimate charity?
Kore Academy Inc (EIN: 201530223) is a registered tax-exempt nonprofit based in Kentucky. Our AI analysis gives it a Mission Score of 88/100. It has 13 years of IRS 990 filings on record. Total revenue: $477K. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Kore Academy Inc spend its money?
Kore Academy Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Kore Academy Inc tax-deductible?
Kore Academy Inc is registered as a tax-exempt nonprofit (EIN: 201530223). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Kore Academy Inc's spending goes to programs?
Kore Academy Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Kore Academy Inc compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Kore Academy Inc is above average for NTEE category B20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Kore Academy Inc located?
Kore Academy Inc is headquartered in Lexington, Kentucky and files with the IRS under EIN 201530223. It is classified under NTEE code B20.
How many years of IRS 990 filings does Kore Academy Inc have?
Kore Academy Inc has 13 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 $477K in total revenue.
Is Kore Academy Inc. financially stable?
While Kore Academy Inc. has a history of stable operations, recent filings (2022 and 2023) show expenses exceeding revenue ($549,705 vs $469,534 in 2023), suggesting a need to address this trend to ensure long-term financial stability.
How transparent is Kore Academy Inc.?
Kore Academy Inc. demonstrates strong transparency through its consistent filing of IRS Form 990 over 13 periods and its clear reporting of zero officer compensation.
Does Kore Academy Inc. spend efficiently?
The organization's commitment to zero officer compensation indicates a high degree of spending efficiency, as all funds can be directed towards programs and operational costs rather than executive salaries.
Filing History
IRS 990 filing history for Kore Academy Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Kore Academy Inc's revenue has grown by 157.5%, moving from $182K to $470K. Total assets increased by 203.1% over the same period, from $51K to $155K. Total functional expenses rose by 195.4%, from $186K to $550K. In its most recent filing year (2023), Kore Academy Inc reported a deficit of $80K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $470K | $550K | $155K | $0 | — | — |
| 2022 | $529K | $554K | $235K | $0 | — | View 990 |
| 2021 | $556K | $552K | $261K | $0 | — | View 990 |
| 2020 | $457K | $492K | $256K | $81K | — | View 990 |
| 2019 | $459K | $469K | $211K | $0 | — | View 990 |
| 2018 | $445K | $431K | $221K | $0 | — | View 990 |
| 2017 | $475K | $450K | $206K | $0 | — | View 990 |
| 2016 | $437K | $393K | $182K | $0 | — | View 990 |
| 2015 | $385K | $380K | $139K | $0 | — | View 990 |
| 2014 | $317K | $318K | $134K | $257 | — | View 990 |
| 2013 | $299K | $277K | $141K | $5K | — | View 990 |
| 2012 | $271K | $205K | $117K | $4K | — | View 990 |
| 2011 | $182K | $186K | $51K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $470K, expenses of $550K, and assets of $155K (revenue -11.2% year-over-year).
- 2022: Revenue of $529K, expenses of $554K, and assets of $235K (revenue -4.9% year-over-year).
- 2021: Revenue of $556K, expenses of $552K, and assets of $261K (revenue +21.9% year-over-year).
- 2020: Revenue of $457K, expenses of $492K, and assets of $256K (revenue -0.6% year-over-year).
- 2019: Revenue of $459K, expenses of $469K, and assets of $211K (revenue +3.1% year-over-year).
- 2018: Revenue of $445K, expenses of $431K, and assets of $221K (revenue -6.2% year-over-year).
- 2017: Revenue of $475K, expenses of $450K, and assets of $206K (revenue +8.5% year-over-year).
- 2016: Revenue of $437K, expenses of $393K, and assets of $182K (revenue +13.7% year-over-year).
- 2015: Revenue of $385K, expenses of $380K, and assets of $139K (revenue +21.3% year-over-year).
- 2014: Revenue of $317K, expenses of $318K, and assets of $134K (revenue +6.1% year-over-year).
- 2013: Revenue of $299K, expenses of $277K, and assets of $141K (revenue +10.4% year-over-year).
- 2012: Revenue of $271K, expenses of $205K, and assets of $117K (revenue +48.5% year-over-year).
- 2011: Revenue of $182K, expenses of $186K, and assets of $51K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Kore Academy Inc:
Data Sources and Methodology
This transparency report for Kore Academy Inc 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.