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Kore Academy INC

Tax-deductible

Lexington, KY501(c)(3)Since 2004EducationEIN 20-1530223Revenue $261K in FY2025

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Education provided for students in primary and secondary level with various learning disabilities.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $36K a year · 8% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$261K
-45% vs prior year
Spent
$267K
To programs
93%
Net assets
$19K
By yearFY2020–FY2025
Revenue
$261K
FY2025▼ -45%
Revenue by fiscal year
FY2020$457K
FY2021$556K
FY2022$529K
FY2023$470K
FY2024$477K
FY2025$261K
Expenses
$267K
FY2025▼ -52%
Expenses by fiscal year
FY2020$492K
FY2021$552K
FY2022$554K
FY2023$550K
FY2024$551K
FY2025$267K
Net assets
$19K
FY2025▼ -76%
Net assets by fiscal year
FY2020$175K
FY2021$261K
FY2022$235K
FY2023$155K
FY2024$80K
FY2025$19K

From the FY2025 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2005.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $249K Management & general 7% · $18K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Tim Martin
President
$0Pt VII · Sec A
Stephanie Spires
Development
$0Pt VII · Sec A
$0Pt VII · Sec A
Todd Peyton
Director
$0Pt VII · Sec A
Joseph Black
Director
$0Pt VII · Sec A
Michael Cobb
Director
$0Pt VII · Sec A
Asha Gibson
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Kore Academy INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides education for primary and secondary students with learning disabilities.

Provided by the organization

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1 program · in their own filed words · FY2025
01

Education provided for students in primary and secondary level with various learning disabilities.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Doug Flutie JR Foundation for Autism INCFY2024$8K
Total grants receivedfrom 1 funder$8K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$261K
Ln 12
Fees for servicesLn 2g$259K
Gifts and grantsLn 1h$2K
Money outPt IX
$267K
Ln 25
Programscol B$249K
Managementcol C$18K
Owns and owesPt X
$19K
net assets · Ln 32
Cash and savingsLn 1–2$23K
Total assetsLn 16$23K
LiabilitiesLn 26$4K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Fundraising eventsLn 1c$2K
Fees for servicesLn 2g$259K
Total revenueLn 12$261K
Assets in detailPt X, end of year
CashLn 1$23K
Cash and savings togetherLn 1–2$23K
Total assetsLn 16$23K
LiabilitiesLn 26$4K
Net assetsLn 32$19K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$50K$23K
Total assetsLn 16$50K$23K
LiabilitiesLn 26$25K$4K
Net assetsLn 32$25K$19K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$210K$193K$17K
Other employee benefitsLn 9$6K$6K
Payroll taxesLn 10$17K$15K$1K
Accounting feesLn 11c$2K$2K
Advertising and promotionLn 12$540$540
Office expensesLn 13$10K$10K
OccupancyLn 16$8K$8K
Conferences, conventions and meetingsLn 19$169$169
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$10K$10K
Total functional expensesLn 25$267K$249K$18K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $261K$267K−$6K$19K 990 PDF
FY2024 $477K$551K−$75K$80K 990 PDF
FY2023 $470K$550K−$80K$155K 990 PDF
FY2022 $529K$554K−$25K$235K 990 PDF
FY2021 $556K$552K$4K$261K 990 PDF
FY2020 $457K$492K−$35K$175K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $260,913 revenue, 12 lines filed
I-8 Contributions and grants$2,154
I-9 Program service revenue$258,759
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$260,913
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$232,691
I-16a Professional fundraising fees$0
I-17 Other expenses$33,996
I-18 Total expenses$266,687
I-19 Revenue less expenses−$5,774
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $260,913 across 4 lines filed
VIII-1c Fundraising events$2,154
VIII-1h Total contributions, gifts and grants$2,154
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $258,759$258,759
VIII-12 Total revenueRelated to mission $258,759$260,913
Part IX · Statement of functional expenses $266,687 across 10 lines filed
IX-7 Other salaries and wagesPrograms $193,022 · Management $16,754$209,776
IX-9 Other employee benefitsPrograms $6,153$6,153
IX-10 Payroll taxesPrograms $15,423 · Management $1,339$16,762
IX-11c Accounting feesPrograms $2,140$2,140
IX-12 Advertising and promotionPrograms $540$540
IX-13 Office expensesPrograms $9,529$9,529
IX-16 OccupancyPrograms $7,500$7,500
IX-19 Conferences, conventions and meetingsPrograms $169$169
IX-23 InsurancePrograms $3,670$3,670
IX-24 Other expenses (24a–d)Programs $10,448$10,448
IX-25 Total functional expensesPrograms $248,594 · Management $18,093 · Fundraising $0$266,687
Part X · Balance sheet $22,785 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $49,752$22,785
X-16 Total assetsStart of year $49,752$22,785
X-17 Accounts payable and accrued expensesStart of year $6,205$3,762
X-26 Total liabilitiesStart of year $24,955$3,762
X-27 Net assets without donor restrictionsStart of year $24,797$19,023
X-32 Total net assets or fund balancesStart of year $24,797$19,023
X-33 Total liabilities and net assetsStart of year $49,752$22,785
Part XI · Reconciliation of net assets $19,023 net assets at year end
XI-1 Total revenue$260,913
XI-2 Total expenses$266,687
XI-3 Revenue less expenses−$5,774
XI-4 Net assets at start of year$24,797
XI-10 Net assets at end of year$19,023

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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