Korver Huisman Charitable Foundation

Korver Huisman Charitable Foundation shows inconsistent revenue and declining assets, with minimal recent expenses.

EIN: 200125973 · Orange City, IA · NTEE: T20 · Updated: 2026-03-28

$3KRevenue

$26KAssets

65/100Mission Score (Good)

T20

About Korver Huisman Charitable Foundation

Korver Huisman Charitable Foundation (EIN: 200125973) is a nonprofit organization based in Orange City, IA, classified under NTEE code T20. The organization reported total revenue of $3K and total assets of $26K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Korver Huisman Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Korver Huisman Charitable Foundation demonstrates a mixed financial picture. While the organization has consistently reported zero officer compensation across all available filings, indicating good transparency regarding executive pay, its financial health shows significant fluctuations. In the latest period (202312), the foundation reported revenue of $26,033 against expenses of $1,305, resulting in a substantial surplus. However, prior years, such as 202212 (revenue $973, expenses $1,840) and 202112 (revenue $725, expenses $3,319), show consistent deficits, suggesting an inconsistent funding model or varying levels of activity. The foundation's assets have also seen a considerable decline over the years, from $168,837 in 201112 to $26,306 in 202312, which could indicate a strategy of spending down its endowment or a lack of asset growth. The low expense figures in recent years, particularly the $1,305 in 202312, suggest minimal program activity or very efficient operations, but without a detailed breakdown of expenses, it's difficult to fully assess spending efficiency. The consistent reporting of liabilities at $1 across all filings is unusual and may warrant further investigation into their accounting practices.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Korver Huisman Charitable Foundation with a Mission Score of 65 out of 100 (Good). 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, Korver Huisman Charitable Foundation 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 has consistently been reported as 0% across all available filings, indicating that no officers or directors receive salaries from the organization, which is positive for donor confidence.

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 Korver Huisman Charitable Foundation's IRS 990 filings:

Significant decline in assets from $168,837 in 2011 to $26,306 in 2023.
Inconsistent revenue generation and periods of significant deficits in prior years (e.g., 202212, 202112).
Unusual consistent reporting of $1 in liabilities across all filings.
Very low expenses in recent years ($1,305 in 2023) could indicate minimal program activity relative to its potential.

Strengths

The following positive indicators were identified for Korver Huisman Charitable Foundation:

Zero officer compensation reported across all filings, indicating strong financial transparency regarding executive pay.
Very low administrative overhead based on the minimal expenses reported in recent years (e.g., $1,305 total expenses in 2023).
Positive net income in the latest filing period (202312) with revenue of $26,033 against expenses of $1,305.

Frequently Asked Questions about Korver Huisman Charitable Foundation

Why have the organization's assets declined significantly from $168,837 in 2011 to $26,306 in 2023?

The consistent decline in assets suggests either a deliberate strategy to spend down an endowment or a lack of investment growth and new capital contributions over the past decade.

What is the nature of the 'Liabilities=$1' reported across all filings?

The consistent reporting of $1 in liabilities is unusual and could indicate a placeholder, a minor recurring administrative fee, or an accounting anomaly that warrants clarification.

What specific programs did the foundation fund with its $1,305 in expenses in 2023?

Without a detailed breakdown of expenses, it is unclear how the minimal expenses in 2023 were allocated to specific charitable programs or administrative costs.

How does the foundation plan to address its inconsistent revenue generation in prior years?

The foundation has experienced significant fluctuations in revenue, with periods of substantial deficits. A clear strategy for sustainable funding would be beneficial.

Filing History

IRS 990 filing history for Korver Huisman Charitable Foundation showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Korver Huisman Charitable Foundation's revenue has grown by 111.5%, moving from $12K to $26K. Total assets decreased by 84.4% over the same period, from $169K to $26K. Total functional expenses fell by 94.7%, from $24K to $1K. In its most recent filing year (2023), Korver Huisman Charitable Foundation reported a surplus of $25K, with revenue exceeding expenses. The organization holds $1 in liabilities against $26K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $26K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$26K	$1K	$26K	$1	—	—
2022	$973	$2K	$2K	$1	—	—
2021	$725	$3K	$2K	$1	—	—
2020	$338	$2K	$5K	$1	—	—
2019	$435	$3K	$7K	$1	—	View 990
2015	$2K	$7K	$43K	$1	—	View 990
2014	$3K	$12K	$48K	$1	—	View 990
2013	$2K	$13K	$58K	$1	—	View 990
2012	$8K	$107K	$69K	$1	—	View 990
2011	$12K	$24K	$169K	$1	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $26K, expenses of $1K, and assets of $26K (revenue +2575.5% year-over-year).
2022: Revenue of $973, expenses of $2K, and assets of $2K (revenue +34.2% year-over-year).
2021: Revenue of $725, expenses of $3K, and assets of $2K (revenue +114.5% year-over-year).
2020: Revenue of $338, expenses of $2K, and assets of $5K (revenue -22.3% year-over-year).
2019: Revenue of $435, expenses of $3K, and assets of $7K (revenue -75.4% year-over-year).
2015: Revenue of $2K, expenses of $7K, and assets of $43K (revenue -29.6% year-over-year).
2014: Revenue of $3K, expenses of $12K, and assets of $48K (revenue +13.8% year-over-year).
2013: Revenue of $2K, expenses of $13K, and assets of $58K (revenue -71.2% year-over-year).
2012: Revenue of $8K, expenses of $107K, and assets of $69K (revenue -37.8% year-over-year).
2011: Revenue of $12K, expenses of $24K, and assets of $169K.

Data Sources and Methodology

This transparency report for Korver Huisman Charitable 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.