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The Core Foundation FY2020 filing

Chicago, ILUnknown exempt organizationEIN 36-3991833

To promote and support the work of an outpatient facility.

84¢ of each $1 spent went to programs.
$119K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $5.1M a year · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$119K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
11 mo
of spending, in cash
Looks good: 10.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$433K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 9 voting members
Worth a look: 3 of 9 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.1M
Spent
$1.8M
To programs
84%
Net assets
$22.9M
By yearFY2020–FY2023
Revenue
$3.1M
FY2020
Revenue by fiscal year
FY2020$3.1M
FY2021−$7.2M
FY2022$392K
FY2023$58K
Expenses
$1.8M
FY2020
Expenses by fiscal year
FY2020$1.8M
FY2021$2.8M
FY2022$1.7M
FY2023$10.7M
Net assets
$22.9M
FY2020
Net assets by fiscal year
FY2020$22.9M
FY2021$13.7M
FY2022$10.9M
FY2023$0

From the FY2020 Form 990 (year ending June 2020) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Not on file
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Last filed FY2023 — 4 yrs ago
Legal name (IRS)Hdr · item CThe Core Foundation
EINHdr · item D36-3991833
Exempt statusHdr · item I501(c)(3) · active
Latest filingForm 990FY2023 · Form 990
Principal addressHdr · item CChicago, IL
NTEE classificationIRS BMFNonprofit

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.14 Fundraising $0.01
Program services84%$1.5M
Management & general14%$260K
Fundraising1%$19K
Total functional expensesLn 25$1.8M

Finances

Money in and out, what it owns and owes

Surplus or deficit
+43%
as % of revenue, this year
Program spending
84%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Total assets
$23.3M
FY2020
Total assets by fiscal year
FY2020$23.3M
FY2021$13.7M
FY2022$11.0M
FY2023$0
Total liabilities
$433K
FY2020
Total liabilities by fiscal year
FY2020$433K
FY2021$67K
FY2022$79K
FY2023$0
Revenue less expensesPt I · Ln 19$1.4M
Total assetsPt X · Ln 16$23.3M
Spent on programsPt IX · col B84%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 43

Balance Sheet

Part X · end of year
CashLn 1$1.6M
Total assetsLn 16$23.3M
Total liabilitiesLn 26$433K
Total net assetsLn 32$22.9M
Months of cash on handcomputed10.7

Statement of Revenue

Part VIII
Program service revenue$2.0M · 64%
Investment income$670K · 21%
Contributions & grants$473K · 15%
Program service revenue64%$2.0M
Investment income21%$670K
Contributions & grants15%$473K
— government grantsLn 1e$178K
Total revenueLn 12$3.1M

Money in detail

Form 990 · FY2020 · each figure shown with the dollars behind it
Cash and giving out
Months of spending covered by cash
Cash and easy-to-sell investments $14.1M · Operating expenses (Pt IX) $1.8M · Less non-cash grants $500 · Cash operating expenses/yr $1.8M
94.7 months
Where the money goes
Program services
Program services $1.5M · Total expenses $1.8M
84%
Management & General
Management & general $260K · Total expenses $1.8M
14%
Fundraising
Fundraising $19K · Total expenses $1.8M
1%
Cost to raise $1
Fundraising expense $19K · Solicited contributions $295K
$0.07 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $473K · Total revenue $3.1M
15%
Government reliance
Government grants $178K · Total revenue $3.1M
6%
Earned-income share
Program service revenue $2.0M · Total revenue $3.1M
64%
Investment reliance
Investment income $670K · Total revenue $3.1M
+21%
Program self-sufficiency
Program service revenue $2.0M · Total expenses $1.8M
112%
Growth & trend
Revenue change from last year
This year $3.1M · Prior year —
No prior year on file
Net assets change over the year
End of year $22.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus or deficit, as % of revenue
Revenue $3.1M · Expenses $1.8M
+43%
Debts compared to what it owns
Total liabilities — · Total assets $23.3M
—
Net assets compared to what it owns
Net assets $22.9M · Total assets $23.3M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $12.5M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $23.3M
54%
People & payroll
Highest Reported Total Compensation
Individual Esther Joo · Reported title Executive Director · Highest reported compensation $119K · Total expenses $1.8M
7%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $426K · Total expenses $1.8M
24%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Spent on programs 84%——
Spent on management, % of spending 14%——
Fundraising cost, % of gifts 4%——
Investment manager fees, % of assets 0.3%——
Accounting fees, % of spending 0.8%——

Straight from the Form 990 — descriptive, not an evaluation. A share is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Esther Joo
Executive Director
$119,114Pt VII · Sec A
See Schedule O for
Board of Directors
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2020
Esther Joo$68,430$119,114

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Governance & Policies

Part VI
  • 9Voting board membersPt VI · Ln 1a
  • 3Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2Yes

Mission and programs

What it does.

Supports an outpatient facility's work.

Provided by the organization

This section is blank until The Core Foundation claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $1.5M of program spending, described in the organization's own filed words · FY2019.
01

Supported the outpatient facility that provides primary care, specialty care and supportive services to approximately 5,000 patients. Provided support for the facility's care coordination, prevention and research activities.

$1.5Mprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $1.2M · 2020–2021
Hektoen Institute LLCFY2021$1,179,755
Hektoen Institute LLCFY2020$10,371

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2023 Latest $58K$10.7M-85% 990 PDF
FY2022 $392K$1.7M+105% 990 PDF
FY2021 −$7.2M$2.8M-328% 990 PDF
FY2020 Viewing $3.1M$1.8M 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

Full filing: Form 990 for FY2020

Every line we hold from the return, cited to its Part and line.
Part VIII · Statement of revenue $3,148,157 across 9 lines filed
VIII-1d Related organizations$200,000
VIII-1e Government grants$177,777
VIII-1f All other contributions, gifts and grants$94,840
VIII-1g Noncash contributions (included above)$500
VIII-1h Total contributions, gifts and grants$472,617
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,005,520$2,005,520
VIII-3 Investment incomeExcluded from tax $334,800$334,800
VIII-7 Net gain or loss on sales of assetsExcluded from tax $335,220$335,220
VIII-12 Total revenueRelated to mission $2,005,520 · Unrelated business $0 · Excluded from tax $670,020$3,148,157
Part IX · Statement of functional expenses $1,792,821 across 12 lines filed
IX-5 Pay of current officers, directors and key staffManagement $134,776 · Fundraising $16,319$151,095
IX-7 Other salaries and wagesPrograms $213,359$213,359
IX-9 Other employee benefitsPrograms $34,138$34,138
IX-10 Payroll taxesPrograms $17,069 · Management $9,295 · Fundraising $1,126$27,490
IX-11c Accounting feesManagement $14,806$14,806
IX-11f Investment management feesManagement $76,275$76,275
IX-11g Other fees for servicesPrograms $75,286$75,286
IX-13 Office expensesPrograms $12,546 · Management $688 · Fundraising $36$13,270
IX-17 TravelPrograms $1,163 · Management $23 · Fundraising $11$1,197
IX-22 Depreciation, depletion and amortizationPrograms $648,158 · Management $13,455 · Fundraising $1,629$663,242
IX-23 InsurancePrograms $45,911 · Management $954 · Fundraising $115$46,980
IX-24 Other expenses (24a–d)Programs $466,224 · Management $9,459$475,683
IX-25 Total functional expensesPrograms $1,513,854 · Management $259,731 · Fundraising $19,236$1,792,821
Part X · Balance sheet $23,338,169 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $186,517$1,363,892
X-2 Savings and temporary cash investmentsStart of year $206,703$229,315
X-3 Pledges and grants receivableStart of year $156,163$63,519
X-4 Accounts receivableStart of year $26,998$671,574
X-9 Prepaid expenses and deferred chargesStart of year $14,668$14,073
X-10c Land, buildings and equipment, netStart of year $8,399,934$8,393,444
X-11 Publicly traded securitiesStart of year $12,505,352$12,543,822
X-15 Other assetsStart of year $63,502$58,530
X-16 Total assetsStart of year $21,559,837$23,338,169
X-17 Accounts payable and accrued expensesStart of year $183,205$432,565
X-25 Other liabilitiesStart of year $38,729$0
X-26 Total liabilitiesStart of year $221,934$432,565
X-27 Net assets without donor restrictionsStart of year $21,337,903$22,905,604
X-32 Total net assets or fund balancesStart of year $21,337,903$22,905,604
X-33 Total liabilities and net assetsStart of year $21,559,837$23,338,169
Part XI · Reconciliation of net assets $22,905,604 net assets at year end
XI-1 Total revenue$3,148,157
XI-2 Total expenses$1,792,821
XI-3 Revenue less expenses$1,355,336
XI-4 Net assets at start of year$21,337,903
XI-5 Net unrealized gains (losses) on investments$212,365
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$22,905,604

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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