The Core Foundation FY2021 filing

Chicago, ILUnknown exempt organizationEIN 36-3991833

To promote and support the work of an outpatient facility.

36¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · 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
36%
of spending
Concern: 36% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$67K
0.5% of total assets
Looks good: liabilities are 0% 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
−$7.2M
-328% vs prior year
Spent
$2.8M
To programs
36%
Net assets
$13.7M
By yearFY2020–FY2023
Revenue
−$7.2M
FY2021▼ -328%
Revenue by fiscal year
FY2020$3.1M
FY2021−$7.2M
FY2022$392K
FY2023$58K
Expenses
$2.8M
FY2021▲ +59%
Expenses by fiscal year
FY2020$1.8M
FY2021$2.8M
FY2022$1.7M
FY2023$10.7M
Net assets
$13.7M
FY2021▼ -40%
Net assets by fiscal year
FY2020$22.9M
FY2021$13.7M
FY2022$10.9M
FY2023$0

From the FY2021 Form 990 (year ending June 2021) · see the original

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

36 cents of each dollar spent went to programs.

Program services 36% · $1.0M Management & general 64% · $1.8M

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

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Board of Directors
$0Pt VII · Sec A
Executive Director
$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.

See The Core 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 15aNo

Programs and updates

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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1 program service account for $1.0M of program spending, described in the organization's own filed words · FY2020.
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 and research activities.

$1.0Mprogram 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

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
−$7.2M
Ln 12
Investment incomeLn 3$296K
Fees for servicesLn 2g$227K
Gifts and grantsLn 1h$211K
Money outPt IX
$2.8M
Ln 25
Programscol B$1.0M
Managementcol C$1.8M
Owns and owesPt X
$13.7M
net assets · Ln 32
Cash and savingsLn 1–2$948K
Total assetsLn 16$13.7M
LiabilitiesLn 26$67K
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$211K
Government grantsLn 1e$11K
Fees for servicesLn 2g$227K
Investment incomeLn 3$296K
Gains on assetsLn 7−$7.9M
Total revenueLn 12−$7.2M
Assets in detailPt X, end of year
CashLn 1$822K
SavingsLn 2$125K
Cash and savings togetherLn 1–2$948K
InvestmentsLn 11–13$12.5M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$208K
Total assetsLn 16$13.7M
LiabilitiesLn 26$67K
Net assetsLn 32$13.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderJune
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$1.6M$948K
InvestmentsLn 11–13$12.5M$12.5M
Land, buildings, equipmentLn 10c$8.4M$0
Total assetsLn 16$23.3M$13.7M
LiabilitiesLn 26$433K$67K
Net assetsLn 32$22.9M$13.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$10K$10K
Pay of current officers, directors and key staffLn 5$152K$152K
Other salaries and wagesLn 7$82K$82K
Other employee benefitsLn 9$13K$13K$125
Payroll taxesLn 10$17K$7K$10K
Legal feesLn 11b$43K$43K
Accounting feesLn 11c$15K$15K
Investment management feesLn 11f$81K$81K
Office expensesLn 13$2K$2K$115
Depreciation, depletion and amortizationLn 22$677K$665K$12K
InsuranceLn 23$48K$47K$886
Other expenses (24a–d)Ln 24$1.7M$202K$1.5M
Total functional expensesLn 25$2.8M$1.0M$1.8M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $58K$10.7M−$10.6M$0 990 PDF
FY2022 $392K$1.7M−$1.3M$10.9M 990 PDF
FY2021 Viewing −$7.2M$2.8M−$10.0M$13.7M 990 PDF
FY2020 $3.1M$1.8M$1.4M$22.9M 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 (4 parts)
Part VIII · Statement of revenue −$7,186,343 across 8 lines filed
VIII-1d Related organizations$200,000
VIII-1e Government grants$10,968
VIII-1f All other contributions, gifts and grants$415
VIII-1h Total contributions, gifts and grants$211,383
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $227,368$227,368
VIII-3 Investment incomeExcluded from tax $295,706$295,706
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$7,920,800−$7,920,800
VIII-12 Total revenueRelated to mission $227,368 · Unrelated business $0 · Excluded from tax −$7,625,094−$7,186,343
Part IX · Statement of functional expenses $2,843,547 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $10,371$10,371
IX-5 Pay of current officers, directors and key staffManagement $151,572$151,572
IX-7 Other salaries and wagesPrograms $82,225$82,225
IX-9 Other employee benefitsPrograms $13,156 · Management $125$13,281
IX-10 Payroll taxesPrograms $6,578 · Management $10,462$17,040
IX-11b Legal feesManagement $43,234$43,234
IX-11c Accounting feesManagement $15,123$15,123
IX-11f Investment management feesManagement $80,997$80,997
IX-13 Office expensesPrograms $2,034 · Management $115$2,149
IX-22 Depreciation, depletion and amortizationPrograms $664,902 · Management $12,477$677,379
IX-23 InsurancePrograms $47,228 · Management $886$48,114
IX-24 Other expenses (24a–d)Programs $202,047 · Management $1,500,015$1,702,062
IX-25 Total functional expensesPrograms $1,028,541 · Management $1,815,006 · Fundraising $0$2,843,547
Part X · Balance sheet $13,733,031 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,363,892$822,218
X-2 Savings and temporary cash investmentsStart of year $229,315$125,362
X-4 Accounts receivableStart of year $671,574$16,646
X-9 Prepaid expenses and deferred chargesStart of year $14,073$15,710
X-10c Land, buildings and equipment, netStart of year $8,393,444$0
X-11 Publicly traded securitiesStart of year $12,543,822$12,545,298
X-15 Other assetsStart of year $58,530$207,797
X-16 Total assetsStart of year $23,338,169$13,733,031
X-17 Accounts payable and accrued expensesStart of year $432,565$67,135
X-26 Total liabilitiesStart of year $432,565$67,135
X-27 Net assets without donor restrictionsStart of year $22,905,604$13,665,896
X-32 Total net assets or fund balancesStart of year $22,905,604$13,665,896
X-33 Total liabilities and net assetsStart of year $23,338,169$13,733,031
Part XI · Reconciliation of net assets $13,665,896 net assets at year end
XI-1 Total revenue−$7,186,343
XI-2 Total expenses$2,843,547
XI-3 Revenue less expenses−$10,029,890
XI-4 Net assets at start of year$22,905,604
XI-5 Net unrealized gains (losses) on investments$790,182
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$13,665,896

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

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