Corry Community Foundation FY2021 filing

Tax-deductible

Erie, PA501(c)(3)Community DevelopmentEIN 25-1850006Revenue $1.9M in FY2021

On file with the IRScorrycommunityfoundation.org459 W 6th St, 16507-1215 · Erie, PATax-exempt since Nov 2000Supporting organization — 509(a)(3)

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Public charity Community Foundation

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $442K a year · 33% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $130K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$30K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 12 voting members
Looks good: 11 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.9M
+187% vs prior year
Spent
$900K
To programs
79%
Net assets
$18.8M
By yearFY2020–FY2024
Revenue
$1.9M
FY2021▲ +187%
Tap a bar for its year
Revenue by fiscal year
FY2020$667K
FY2021$1.9M
FY2022$1.2M
FY2023$894K
FY2024$2.0M
Expenses
$900K
FY2021▲ +28%
Tap a bar for its year
Expenses by fiscal year
FY2020$705K
FY2021$900K
FY2022$1.0M
FY2023$1.1M
FY2024$790K
Net assets
$18.8M
FY2021▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020$16.0M
FY2021$18.8M
FY2022$16.5M
FY2023$17.6M
FY2024$19.5M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2000.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $714K Management & general 20% · $176K Fundraising 1% · $10K

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

17 people listed on the 990.

Part VII, Section A · reportable compensation
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Corry Community Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Builds a stronger community by funding local projects and initiatives.

Questions for Corry Community Foundation

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Provided by the organization

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1 program · $714K · in their own filed words · FY2021
01

The corry community foundation, through donations from the general public, made grants to organizations in corry, pa for education, arts, health services, human services, civic services and economic development.

$714Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$130K
Grants paid · 83 grants · $2.8M · 2020–2024
See all 83 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.9M
Ln 12
Investment incomeLn 3$1.2M
Gifts and grantsLn 1h$705K
Money outPt IX
$900K
Ln 25
Programscol B$714K
Managementcol C$176K
Fundraisingcol D$10K
Owns and owesPt X
$18.8M
net assets · Ln 32
Cash and savingsLn 1–2$263K
Total assetsLn 16$18.8M
LiabilitiesLn 26$30K
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$705K
Investment incomeLn 3$1.2M
Gains on assetsLn 7$885K
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
SavingsLn 2$263K
Cash and savings togetherLn 1–2$263K
InvestmentsLn 11–13$18.6M
Total assetsLn 16$18.8M
LiabilitiesLn 26$30K
Net assetsLn 32$18.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 616
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$48K$263K
InvestmentsLn 11–13$16.1M$18.6M
Total assetsLn 16$16.1M$18.8M
LiabilitiesLn 26$90K$30K
Net assetsLn 32$16.0M$18.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$504K$504K
Grants to domestic individualsLn 2$66K$66K
Management feesLn 11a$142K$134K$4K$4K
Investment management feesLn 11f$168K$168K
Other fees for servicesLn 11g$264$132$66$66
Advertising and promotionLn 12$3K$521$520$2K
Office expensesLn 13$7K$5K$837$1K
Information technologyLn 14$2K$2K$470$320
Conferences, conventions and meetingsLn 19$8K$3K$3K$3K
Other expenses (24a–d)Ln 24$151$15$68$68
Total functional expensesLn 25$900K$714K$176K$10K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.0M$790K$1.2M$19.5M 990 PDF
FY2023 $894K$1.1M−$178K$17.6M 990 PDF
FY2022 $1.2M$1.0M$180K$16.5M 990 PDF
FY2021 Viewing $1.9M$900K$1.0M$18.8M 990 PDF
FY2020 $667K$705K−$38K$16.0M 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 FY2021 990 (6 parts)
Part I · Summary $1,913,879 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $477,560$704,858
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $189,457$1,209,021
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $667,017$1,913,879
I-13 Grants and similar amounts paidPrior year $473,726$569,795
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $231,527$330,291
I-18 Total expensesPrior year $705,253$900,086
I-19 Revenue less expensesPrior year −$38,236$1,013,793
Part VI · Governance 11 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
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 $1,913,879 across 5 lines filed
VIII-1f All other contributions, gifts and grants$704,858
VIII-1h Total contributions, gifts and grants$704,858
VIII-3 Investment incomeExcluded from tax $324,117$324,117
VIII-7 Net gain or loss on sales of assetsExcluded from tax $884,904$884,904
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,209,021$1,913,879
Part IX · Statement of functional expenses $900,086 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $503,715$503,715
IX-2 Grants to domestic individualsPrograms $66,080$66,080
IX-11a Management feesPrograms $134,443 · Management $3,799 · Fundraising $3,799$142,041
IX-11f Investment management feesManagement $167,847$167,847
IX-11g Other fees for servicesPrograms $132 · Management $66 · Fundraising $66$264
IX-12 Advertising and promotionPrograms $521 · Management $520 · Fundraising $1,559$2,600
IX-13 Office expensesPrograms $4,823 · Management $837 · Fundraising $1,483$7,143
IX-14 Information technologyPrograms $1,601 · Management $470 · Fundraising $320$2,391
IX-19 Conferences, conventions and meetingsPrograms $2,623 · Management $2,615 · Fundraising $2,616$7,854
IX-24 Other expenses (24a–d)Programs $15 · Management $68 · Fundraising $68$151
IX-25 Total functional expensesPrograms $713,953 · Management $176,222 · Fundraising $9,911$900,086
Part X · Balance sheet $18,826,281 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $48,388$262,578
X-9 Prepaid expenses and deferred chargesStart of year $1,283$0
X-11 Publicly traded securitiesStart of year $8,722,227$9,127,179
X-12 Other securitiesStart of year $7,365,470$9,128,789
X-13 Program-related investments$307,735
X-16 Total assetsStart of year $16,137,368$18,826,281
X-18 Grants payableStart of year $89,510$29,760
X-26 Total liabilitiesStart of year $89,510$29,760
X-27 Net assets without donor restrictionsStart of year $16,047,858$18,796,521
X-32 Total net assets or fund balancesStart of year $16,047,858$18,796,521
X-33 Total liabilities and net assetsStart of year $16,137,368$18,826,281
Part XI · Reconciliation of net assets $18,796,521 net assets at year end
XI-1 Total revenue$1,913,879
XI-2 Total expenses$900,086
XI-3 Revenue less expenses$1,013,793
XI-4 Net assets at start of year$16,047,858
XI-5 Net unrealized gains (losses) on investments$1,728,445
XI-9 Other changes in net assets$6,425
XI-10 Net assets at end of year$18,796,521

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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