The Core Foundation FY2021 filing

Chicago, ILUnknown exempt organization EIN 36-3991833Revenue −$7.2M in FY2021Latest filing we have: 2022. Newer ones may not be in our data yet. Filed since? Tell us.

On file with the IRSChicago, IL

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To promote and support the work of an outpatient facility.

Form 990 Part I, line 1, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-3991833) · Dispute this line
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
The latest return is for FY2023, 3 tax years back.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $5.1M a year · last 4 filings
A surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
36%
of spending
36% of spending went to programs.
Pt IX · Ln 25 · col B
4.0 mo
of spending, in cash
Plus $12.5M in investments, Pt X · Ln 11–13
4.0 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$67K
0.5% of total assets
Liabilities are 0.5% of assets.
Pt X · Ln 26
Independent board members
3
of 9 voting members
3 of 9 voting members are independent.
Pt VI · Ln 1a–1b
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%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.1M
FY2021−$7.2M
FY2022$392K
FY2023$58K
Expenses
$2.8M
FY2021▲ +59%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.8M
FY2021$2.8M
FY2022$1.7M
FY2023$10.7M
Net assets
$13.7M
FY2021▼ -40%
Tap a bar for its year
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 we have: FY2022.

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.

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Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation
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 →

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.

Questions for The Core Foundation

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1 program · $1.0M · in their 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.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-3991833) · Dispute this line
$1.0Mprogram expense

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
Accounts receivableLn 4$17K
Prepaid expenses and deferred chargesLn 9$16K
InvestmentsLn 11–13$12.5M
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 officers and key staff (Part IX, line 5)Ln 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 LatestFiled with the IRS May 3, 2024 $58K$10.7M−$10.6M$0 990 PDF
FY2022Filed with the IRS Oct 24, 2022 $392K$1.7M−$1.3M$10.9M 990 PDF
FY2021 ViewingFiled with the IRS Jan 14, 2022 −$7.2M$2.8M−$10.0M$13.7M 990 PDF
FY2020Filed with the IRS Feb 19, 2021 $3.1M$1.8M$1.4M$22.9M 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2021 990
Part I · Summary −$7,186,343 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $472,617$211,383
I-9 Program service revenuePrior year $2,005,520$227,368
I-10 Investment incomePrior year $670,020−$7,625,094
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $3,148,157−$7,186,343
I-13 Grants and similar amounts paidPrior year $0$10,371
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $426,082$264,118
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,366,739$2,569,058
I-18 Total expensesPrior year $1,792,821$2,843,547
I-19 Revenue less expensesPrior year $1,355,336−$10,029,890
Part VI · Governance 3 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
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 officers and key staff (Part IX, line 5)Management $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 FY2021 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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