Korobkin Foundation Inc
Korobkin Foundation maintains stable assets with volunteer leadership and fluctuating annual revenue.
EIN: 133985413 · Riverside, CT · NTEE: T20Z · Updated: 2026-03-28
Is Korobkin Foundation Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Korobkin Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Korobkin Foundation Inc
Korobkin Foundation Inc (EIN: 133985413) is a nonprofit organization based in Riverside, CT, classified under NTEE code T20Z. The organization reported total revenue of $51K and total assets of $250K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Korobkin Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Korobkin Foundation Inc 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: 90%
- fundraising: 0%
According to IRS 990 filings, Korobkin Foundation Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization is likely run by volunteers or that compensation is covered by an external entity, which is highly efficient for an organization of its size with latest revenue of $51,452.
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.
Strengths
The following positive indicators were identified for Korobkin Foundation Inc:
- Consistent zero officer compensation, indicating high efficiency and volunteer-led operations.
- Stable asset base, demonstrating financial resilience and long-term planning.
- Regular IRS 990 filings, showing commitment to transparency and compliance.
- Low liabilities ($1 across all filings), indicating strong financial health and minimal debt.
Frequently Asked Questions about Korobkin Foundation Inc
Is Korobkin Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Korobkin Foundation Inc (EIN: 133985413) appears legitimate. Mission Score: 85/100. 0 red flags identified, 4 strengths noted.
How does Korobkin Foundation Inc spend its money?
Korobkin Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Korobkin Foundation Inc tax-deductible?
Korobkin Foundation Inc is registered as a tax-exempt nonprofit (EIN: 133985413). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Korobkin Foundation Inc. a good charity?
Based on the available data, the Korobkin Foundation Inc. appears to be a well-managed organization. It maintains a stable asset base, consistently reports zero officer compensation, and files its IRS 990s regularly, indicating good transparency and financial prudence. The lack of executive compensation suggests a high percentage of funds are available for its mission.
How does the Korobkin Foundation manage its expenses?
The foundation's expenses generally track its revenue, with expenses of $28,800 against revenue of $27,966 in 2023 and $37,658 against $51,252 in 2022. The consistent reporting of zero officer compensation suggests a very lean administrative structure, likely relying on volunteer efforts, which minimizes overhead.
What is the trend in the foundation's assets?
The foundation's assets have remained remarkably stable over the past decade, fluctuating between approximately $220,000 and $250,000. The latest reported assets are $250,222, showing a slight increase from previous years, indicating sound financial management and preservation of capital.
Filing History
IRS 990 filing history for Korobkin Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Korobkin Foundation Inc's revenue has grown by 29.3%, moving from $22K to $28K. Total assets increased by 6.1% over the same period, from $220K to $234K. Total functional expenses rose by 102.5%, from $14K to $29K. In its most recent filing year (2023), Korobkin Foundation Inc reported a deficit of $834, with expenses exceeding revenue. The organization holds $1 in liabilities against $234K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $234K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $28K | $29K | $234K | $1 | — | — |
| 2022 | $51K | $38K | $235K | $1 | — | View 990 |
| 2021 | $101K | $51K | $221K | $1 | — | — |
| 2020 | $50K | $41K | $238K | $1 | — | — |
| 2019 | $29K | $28K | $229K | $1 | — | View 990 |
| 2015 | $19K | $22K | $227K | $1 | — | View 990 |
| 2014 | $28K | $21K | $230K | $1 | — | View 990 |
| 2013 | $21K | $18K | $223K | $1 | — | View 990 |
| 2012 | $15K | $15K | $220K | $1 | — | View 990 |
| 2011 | $22K | $14K | $220K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $28K, expenses of $29K, and assets of $234K (revenue -45.4% year-over-year).
- 2022: Revenue of $51K, expenses of $38K, and assets of $235K (revenue -49.1% year-over-year).
- 2021: Revenue of $101K, expenses of $51K, and assets of $221K (revenue +101.4% year-over-year).
- 2020: Revenue of $50K, expenses of $41K, and assets of $238K (revenue +71.4% year-over-year).
- 2019: Revenue of $29K, expenses of $28K, and assets of $229K (revenue +53.7% year-over-year).
- 2015: Revenue of $19K, expenses of $22K, and assets of $227K (revenue -33.0% year-over-year).
- 2014: Revenue of $28K, expenses of $21K, and assets of $230K (revenue +37.6% year-over-year).
- 2013: Revenue of $21K, expenses of $18K, and assets of $223K (revenue +40.8% year-over-year).
- 2012: Revenue of $15K, expenses of $15K, and assets of $220K (revenue -32.4% year-over-year).
- 2011: Revenue of $22K, expenses of $14K, and assets of $220K.
Data Sources and Methodology
This transparency report for Korobkin Foundation 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.