Korndrop Family Foundation
- Assets
- $1.9m
- Revenue
- $62.2k
- Investments
- $1.9m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- Data as of
- 12/2023
- EIN
- 85-3267281
Organization Overview
Korndrop Family Foundation is located in Wilmington, DE. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Korndrop Family Foundation 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 12/2023, Korndrop Family Foundation generated $62.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (58.1%) each year. All expenses for the organization totaled $100.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Korndrop Family Foundation has awarded 18 individual grants totaling $194,000. 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 |
|---|---|---|---|
Marc J Kornmesser Co- Pres, Treas, Dir | 1 | $0 | |
Valerie K Waldrop Co- Pres, Dir, Sec | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $39,000 |
| Interest on Savings | $1,639 |
| Dividends & Interest | $53,922 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$32,396 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $22 |
| Total Revenue | $62,187 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $104 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $13,615 |
| Total operating and administrative expenses | $32,503 |
| Contributions, gifts, grants paid | $67,500 |
| Total expenses and disbursements | $100,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $61,354 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,922,875 |
| 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, Korndrop Family Foundation has awarded $67,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ALASKA SPORTS HALL OF FAME INC PURPOSE: GAME CHANGER PROGRAM | $5,000 |
HAWAII COMMUNITY FOUNDATION PURPOSE: MAUI STRONG FOUNDATION FOR THE WEST MAUI WILD FIRE VICTIMS | $25,000 |
MAUI HUMANE SOCIETY INC PURPOSE: GENERAL & UNRESTRICTED | $25,000 |
RENEWABLE ENERGY ALASKA PROJECT PURPOSE: GENERAL & UNRESTRICTED | $7,500 |
THE ALASKA CENTER EDUCATION FUND PURPOSE: GENERAL & UNRESTRICTED | $5,000 |