Koret Foundation
- Assets
- $392.5m
- Revenue
- $11.0m
- Investments
- $107.4m
- Employees
- 0
- Location
- San Francisco, CA
- Founding
- 01/1966
- Data as of
- 12/2023
- EIN
- 94-1624987
Organization Overview
Koret Foundation is located in San Francisco, CA. The organization was established in 1966. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Koret 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, Koret Foundation generated $11.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (29.3%) each year. All expenses for the organization totaled $65.4m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Koret Foundation has awarded 2,144 individual grants totaling $444,251,125. 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 |
|---|---|---|---|
Michael J Boskin Director | 15 | $29,000 | |
Anita Friedman Director | 15 | $25,000 | |
Richard L Greene See Statement 24 Director | 6 | $28,500 | |
Abraham D Sofaer Director | 6 | $26,500 | |
Jeffrey Farber Chief Executive Officer | 38 | $545,753 | |
Marlena Wong Chief Financial Officer | 38 | $294,042 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Redwood Real Estate Management | 12/30/23 | $498,158 |
Jp Morgan Private Bank | 12/30/23 | $225,000 |
Rs Global Energy And Power Private Investors O | 12/30/23 | $211,416 |
Alter Domus (Formerly Strata Fund Solutions Ll | 12/30/23 | $160,000 |
West End Strategy Team Llc | 12/30/23 | $102,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $124,658 |
| Dividends & Interest | $8,441,497 |
| Net Rental Income | $5,091,639 |
| Net Gain on Sale of Assets | -$12,386,440 |
| Capital Gain Net Income | $137,359,451 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $228 |
| Total Revenue | $11,020,210 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $948,795 |
| Other employee salaries and wages | $1,063,182 |
| Pension plans, employee benefits | $410,289 |
| Interest | $3,013,379 |
| Taxes | $2,702,150 |
| Depreciation | $669,814 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $173,634 |
| Printing and publications | $0 |
| Other expenses | $7,780,498 |
| Total operating and administrative expenses | $18,455,953 |
| Contributions, gifts, grants paid | $46,948,842 |
| Total expenses and disbursements | $65,404,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,081,283 |
| Savings and temporary cash investments | $83,803,317 |
| 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 | $625,992 |
| Net Investments - land, buildings, equipment | $177,750,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $11,418,204 |
| Net Land, buildings, and equipment | $12,663,819 |
| Other assets | $9,182,816 |
| Total assets | $392,510,686 |
| Accounts payable and accrued expenses | $1,280,022 |
| Grants payable | $66,103,160 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $79,212,499 |
| Other liabilities | $2,986,560 |
| Total liabilities | $149,582,241 |
Grants Awarded
Over the last fiscal year, Koret Foundation has awarded $78,179,006 in support to 405 organizations.
| Grant Recipient | Amount |
|---|---|
18 REASONS PURPOSE: COOKING MATTERS PROGRAM | $1,500 |
42ND STREET MOON PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
42ND STREET MOON PURPOSE: GENERAL OPERATING SUPPORT IN HONOR OF THE 2023 GALA | $10,000 |
826 VALENCIA PURPOSE: COLLEGE AND CAREER READINESS PROGRAMS | $20,000 |
42ND STREET MOON PURPOSE: GENERAL OPERATING SUPPORT IN HONOR OF THE 2023 GALA | $10,000 |
A WIDER BRIDGE PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |