Jane And Leonard Korman Familyfoundation
- Assets
- $8.7m
- Revenue
- $1.3m
- Investments
- $8.4m
- Employees
- 0
- Location
- Trevose, PA
- Founding
- 10/2006
- Data as of
- 12/2022
- EIN
- 20-4253701
Organization Overview
Jane And Leonard Korman Familyfoundation is located in Trevose, PA. The organization was established in 2006. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jane And Leonard Korman Familyfoundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Jane And Leonard Korman Familyfoundation generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.1%) each year. All expenses for the organization totaled $991.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Jane And Leonard Korman Familyfoundation has awarded 242 individual grants totaling $16,627,065. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leonard Korman Dec'd President, CEO Treasurer & Lifetime Di | 5 | $0 | |
Alison Korman Feldman Co Vice President, Co Treasurer & Life | 5 | $0 | |
Susan Korman Schurr Co Vice President, Co Treasurer & Life | 5 | $0 | |
Catherine Korman Altman Co Vice President, Co Treasurer & Life | 5 | $0 | |
Carol Borgmann Officer & Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $91,783 |
| Dividends & Interest | $142,513 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,039,931 |
| Capital Gain Net Income | $1,039,931 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,274,227 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,932 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $750 |
| Total operating and administrative expenses | $153,092 |
| Contributions, gifts, grants paid | $838,000 |
| Total expenses and disbursements | $991,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $332,843 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,222 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,536 |
| Total assets | $8,730,449 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Jane And Leonard Korman Familyfoundation has awarded $838,000 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
ABRAMSONS CANCER CENTERPHILLY FIGHT CANCER PURPOSE: HELP UNIVERSITY OF PENN ADVANCE ITS POSITION AS LEADING ACADEMIC, RESEARCH AND SERVICE INSTITUTION. | $32,500 |
ADMIRALS COVE FDN PURPOSE: HELP AC IMPROVE LIVES IN THE AREAS OF EDUCATION, HEALTH AND SOCIAL SERVICES. | $2,000 |
AEMC - ALBERT EINSTEIN MEDICAL CENTER PURPOSE: ASSIST AEMC CONCEIVE AND IMPLEMENT RESEARCH INITIATIVES AND PROGRAMS TO POSITIVELY IMPACT PATIENT CARE. | $20,000 |
ALZHEIMERS ASSOCIATION PURPOSE: CONCEIVE AND IMPLEMENT RESEARCH INITIATIVES AND PROGRAMS TO POSITIVELY IMPACT PATIENT CARE. | $10,000 |
AMBLER THEATRE-RECOVER FUND PURPOSE: SUPPORT THEATRE ARTS | $1,000 |
ASSOC OF ISRAELS DECORATIVE ARTS (AIDA) PURPOSE: SUPPORT AIDA IN HELPING FOSTER THE DEVELOPMENT OF CONTEMPORARY ARTISTS FROM ISRAEL. | $5,000 |