Michael & Ina Korek Foundation Tr 010897
Only null% goes to programs Strong reserves Declining revenue
Michael & Ina Korek Foundation Tr 010897 is a 501(c)(3) organization based in Wilmington, Delaware, registered in 1997, with $531,269 in FY2024 revenue. CharityIndex grades it C+.
Foundation Source 501 Silverside Rd, Wilmington, DE, 19809 EIN 77-6140213 Since 1997
Revenue (FY2024)
$531K
▲ 133.8% vs prior year
Philanthropy median: $168K
Expenses (FY2024)
$552K
Net assets
$8.3M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Michael & Ina Korek Foundation Tr 010897— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
B+Financial health25% of the rating180 mo reserves · -4% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Michael & Ina Korek Foundation Tr 010897: 180 mo reserves · -4% margin earns a B+ on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for Michael & Ina Korek Foundation Tr 010897— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
DTransparency10% of the rating1 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Michael & Ina Korek Foundation Tr 010897: 1 of 5 disclosure signals earns a D on this criterion. See the exact thresholds →
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Contact & location
- Address
- Foundation Source 501 Silverside Rd, Wilmington, DE, 19809
- City
- Wilmington
- State
- Delaware
- Subcategory
- Philanthropy Programs
Financial trends
Revenue declined from $7.6M (FY2013) to $531K (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $0Net assets $8.3M
Operating margin
-3.8%
Spent more than it raised in the latest fiscal year.
Total assets
$8.3M
Total liabilities
$0
Net assets
$8.3M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $531,269▲134% | $551,624▼3.3% | $8,260,127▼0.2% | $8,260,127▼0.2% | 990PF |
| 2023 | $227,193▼38.2% | $570,406▼1.3% | $8,280,482▼4.0% | $8,280,482▼4.0% | 990PF |
| 2022 | $367,362▼67.4% | $577,635▲13.0% | $8,623,695▼2.4% | $8,623,695▼2.4% | 990PF |
| 2021 | $1,125,791▲583% | $511,093▼0.8% | $8,833,968▲7.5% | $8,833,968▲7.2% | 990PF |
| 2020 | $164,883▼61.3% | $514,962▲0.1% | $8,219,270▼4.1% | $8,243,327▼3.8% | 990PF |
| 2019 | $425,679▼7.2% | $514,641▲0.1% | $8,569,349▼1.0% | $8,569,349▼1.6% | 990PF |
| 2018 | $458,914▼26.9% | $514,043▲2.9% | $8,658,311▼0.6% | $8,709,974▼0.1% | 990PF |
| 2017 | $627,678▲140% | $499,411▲0.9% | $8,713,440▲1.5% | $8,720,509▲1.6% | 990PF |
| 2016 | $261,644▲26.3% | $495,185▼3.3% | $8,584,173▼2.6% | $8,584,173▼2.9% | 990PF |
| 2015 | $207,175▼65.2% | $512,313▲51.2% | $8,817,714▼3.3% | $8,840,854▼3.2% | 990PF |
| 2014 | $595,487▼92.1% | $338,909▲78.5% | $9,122,752▲2.9% | $9,130,957▲2.9% | 990PF |
| 2013 | $7,583,697 | $189,869▲176% | $8,865,449▲502% | $8,872,996▲503% | 990PF |
| 2012 | — | $68,877 | $1,471,621 | $1,471,621 | 990PF |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
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Compare Michael & Ina Korek Foundation Tr 010897
Frequently asked questions
- Is Michael & Ina Korek Foundation Tr 010897 a legitimate nonprofit?
- Yes. Michael & Ina Korek Foundation Tr 010897 is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 77-6140213, based in Wilmington, Delaware. Donations are tax-deductible.
- What is Michael & Ina Korek Foundation Tr 010897's EIN?
- Michael & Ina Korek Foundation Tr 010897's Employer Identification Number (EIN) is 77-6140213.
- How much revenue does Michael & Ina Korek Foundation Tr 010897 report?
- Michael & Ina Korek Foundation Tr 010897 reported $531,269 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Michael & Ina Korek Foundation Tr 010897 have?
- CharityIndex grades Michael & Ina Korek Foundation Tr 010897 C+, based on financial health (reserves and operating margin).
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Data for Michael & Ina Korek Foundation Tr 010897 (EIN 77-6140213) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.