The Korein Foundation
The Korein Foundation maintains strong asset growth and zero officer compensation amidst fluctuating revenues.
EIN: 137180474 · Philadelphia, PA · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.5M |
| Total Expenses | $654K |
| Program Spending | 90% |
| Net Assets | $9.0M |
| Transparency Score | 85/100 |
Is The Korein Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Korein Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Korein Foundation
The Korein Foundation (EIN: 137180474) is a nonprofit organization based in Philadelphia, PA, classified under NTEE code T20. The organization reported total revenue of $3.5M and total assets of $9.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Korein Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Korein Foundation is a mid-size nonprofit that has been operating for 27 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $434K |
| Total Expenses | $654K |
| Surplus / Deficit | $-219,909 |
| Total Assets | $9.0M |
| Total Liabilities | $1 |
| Net Assets | $9.0M |
| Operating Margin | -50.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 165.5 months |
Financial Health Grade: B
In 2023, The Korein Foundation reported a deficit of $220K with expenses exceeding revenue, holds 165.5 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), The Korein Foundation's revenue has grown at a compound annual growth rate (CAGR) of 0.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -61.5% | -5.2% | -2.4% |
| 2022 | -31.4% | +5.9% | +4.3% |
| 2021 | +413.6% | +5.8% | +12.4% |
| 2020 | -26.2% | +2.0% | -4.4% |
| 2019 | -52.0% | -5.8% | +3.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
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 The Korein 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: 90%
- fundraising: 0%
According to IRS 990 filings, The Korein 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $220K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Korein Foundation consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers, which is highly unusual and suggests a volunteer-led or externally managed executive function.
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 The Korein Foundation's IRS 990 filings:
- Lack of detailed functional expense breakdown makes true spending efficiency opaque.
- Significant year-over-year revenue fluctuations could indicate unpredictable funding, though common for foundations.
Strengths
The following positive indicators were identified for The Korein Foundation:
- Consistent asset growth, reaching over $9.2 million in the latest period.
- Extremely low liabilities, consistently reported as $1 or $0.
- 0% officer compensation reported across all filings, indicating a lean executive cost structure.
- Long history of IRS 990 filings, demonstrating consistent compliance and transparency.
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) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does The Korein Foundation spend its money?
The Korein Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Korein Foundation tax-deductible?
The Korein Foundation is registered as a tax-exempt nonprofit (EIN: 137180474). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does The Korein Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), The Korein Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Korein Foundation located?
The Korein Foundation is headquartered in Philadelphia, Pennsylvania and files with the IRS under EIN 137180474. It is classified under NTEE code T20.
How many years of IRS 990 filings does The Korein Foundation have?
The Korein 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 $3.5M in total revenue.
What is the specific breakdown of program, administrative, and fundraising expenses?
The provided data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories. While the NTEE code T20 suggests a focus on grantmaking, the exact allocation of the reported expenses (e.g., $654,328 in 2023) is not specified.
How does the organization manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that the foundation's officers are either volunteers, or their compensation is covered by an external entity, or it is categorized differently within the expenses, though the latter is less likely given the explicit 'Officer Comp' field.
What are the primary sources of the fluctuating revenue?
The provided data only shows total revenue figures, which have varied significantly (e.g., $1,642,902 in 2021 vs. $434,419 in 2023). Without a breakdown of revenue sources (e.g., investment income, contributions), it's impossible to determine the primary drivers of these fluctuations.
Filing History
IRS 990 filing history for The Korein Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Korein Foundation's revenue has grown by 5.2%, moving from $413K to $434K. Total assets increased by 16.1% over the same period, from $7.8M to $9.0M. Total functional expenses rose by 34.7%, from $486K to $654K. In its most recent filing year (2023), The Korein Foundation reported a deficit of $220K, with expenses exceeding revenue. The organization holds $1 in liabilities against $9.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $9.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $434K | $654K | $9.0M | $1 | — | View 990 |
| 2022 | $1.1M | $690K | $9.2M | $1 | — | View 990 |
| 2021 | $1.6M | $652K | $8.9M | $1 | — | View 990 |
| 2020 | $320K | $616K | $7.9M | $1 | — | — |
| 2019 | $434K | $604K | $8.2M | $1 | — | View 990 |
| 2015 | $903K | $642K | $8.0M | $0 | — | View 990 |
| 2014 | $511K | $526K | $7.7M | $0 | — | View 990 |
| 2013 | $265K | $470K | $7.7M | $0 | — | View 990 |
| 2012 | $621K | $475K | $7.9M | $0 | — | View 990 |
| 2011 | $413K | $486K | $7.8M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $434K, expenses of $654K, and assets of $9.0M (revenue -61.5% year-over-year).
- 2022: Revenue of $1.1M, expenses of $690K, and assets of $9.2M (revenue -31.4% year-over-year).
- 2021: Revenue of $1.6M, expenses of $652K, and assets of $8.9M (revenue +413.6% year-over-year).
- 2020: Revenue of $320K, expenses of $616K, and assets of $7.9M (revenue -26.2% year-over-year).
- 2019: Revenue of $434K, expenses of $604K, and assets of $8.2M (revenue -52.0% year-over-year).
- 2015: Revenue of $903K, expenses of $642K, and assets of $8.0M (revenue +76.7% year-over-year).
- 2014: Revenue of $511K, expenses of $526K, and assets of $7.7M (revenue +92.8% year-over-year).
- 2013: Revenue of $265K, expenses of $470K, and assets of $7.7M (revenue -57.3% year-over-year).
- 2012: Revenue of $621K, expenses of $475K, and assets of $7.9M (revenue +50.3% year-over-year).
- 2011: Revenue of $413K, expenses of $486K, and assets of $7.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Korein Foundation:
Data Sources and Methodology
This transparency report for The Korein 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.