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Corelink Facilities Foundation

Tax-deductible

Irvine, CA501(c)(3)Housing EIN 88-0870089Revenue $979K in FY2025

On file with the IRScorelinkfoundation.org530 Technology Dr Ste 100, 92618-1350 · Irvine, CATax-exempt since Sep 2022Publicly supported — 509(a)(2)

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The Foundation is dedicated to the relief of the impoverished, the ill, and the elderly: enhancing community development; supporting education: and lessening the burdens of government. The foundation's goal is to serve its charitable and educational mission primarily by partnering with public (governmental) entities and private, tax-exempt entities to develop a broad range of Facilities and services in furtherance of its charitable purpose.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
$55K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$55K
to officers and key staff · 4% of spending
Top officer’s pay lower than 75% of similar orgs
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
477 mo
of spending, in cash
Looks good: 477.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$103.5M
100% of total assets
Concern: liabilities are 100% of assets; over 80%.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$979K
Spent
$1.5M
To programs
99%
Net assets
−$483K

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2022.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $1.5M Management & general 1% · $20K

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

3 people listed on the 990; $55K paid to officers and key staff.

Part VII, Section A · reportable compensation
Robert Kim
President/Treasurer
$33,333Pt VII · Sec A
Daune Cotter
Secretary
$21,667Pt VII · Sec A
$0Pt VII · Sec A

Robert Kim’s $33K as President/Treasurer is at the 25th percentile of top reported officer pay among 852 $100K–1M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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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

Supports impoverished, ill, and elderly through community development, education, and government partnerships.

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Provided by the organization

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1 program · $1.5M · in their own filed words · FY2025
01

This building project will provide additional facilities for education in the sciences for enrolled students at scripps college. Planned improvements include the renovation of the facility to include classrooms, faculty and administrative offices, collaboration labs, and conference and multi-purpose rooms.

$1.5Mprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$979K
Ln 12
Investment incomeLn 3$656K
Fees for servicesLn 2g$323K
Other incomeLn 4–11$750
Money outPt IX
$1.5M
Ln 25
Programscol B$1.5M
Managementcol C$20K
Owns and owesPt X
−$483K
net assets · Ln 32
Cash and savingsLn 1–2$59.9M
Total assetsLn 16$103.0M
LiabilitiesLn 26$103.5M
PeoplePt VI, VII
3
listed · VII A
PaidVII A2
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$323K
Investment incomeLn 3$656K
Other incomeLn 4–11$750
Total revenueLn 12$979K
Assets in detailPt X, end of year
CashLn 1$157K
SavingsLn 2$59.7M
Cash and savings togetherLn 1–2$59.9M
Other assetsLn 15$43.1M
Total assetsLn 16$103.0M
LiabilitiesLn 26$103.5M
Net assetsLn 32−$483K
OperationsPt I, VI
EmployeesI 54
VolunteersI 60
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 FY25End FY25
Cash and savingsLn 1–2$6K$59.9M
Total assetsLn 16$6K$103.0M
LiabilitiesLn 26$12K$103.5M
Net assetsLn 32−$6K−$483K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$55K$47K$8K
Other salaries and wagesLn 7$52K$44K$8K
Other employee benefitsLn 9$2K$2K$345
Payroll taxesLn 10$9K$8K$1K
Legal feesLn 11b$345$345
Accounting feesLn 11c$575$575
Office expensesLn 13$56$56
OccupancyLn 16$2K$2K
TravelLn 17$1K$1K
InterestLn 20$1.4M$1.4M
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$17K$17K
All other expensesLn 24e$1K$25$1K
Total functional expensesLn 25$1.5M$1.5M$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $979K$1.5M−$526K−$483K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $979,066 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$322,812
I-10 Investment incomePrior year $0$655,504
I-11 Other revenuePrior year $0$750
I-12 Total revenuePrior year $0$979,066
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$118,050
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,005$1,386,732
I-18 Total expensesPrior year $2,005$1,504,782
I-19 Revenue less expensesPrior year −$2,005−$525,716
Part VI · Governance 1 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
VI-2 Family or business relationship among officers or directorsNo
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 $979,066 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $322,812$322,812
VIII-3 Investment incomeRelated to mission $655,504$655,504
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $750$750
VIII-12 Total revenueRelated to mission $979,066 · Unrelated business $0 · Excluded from tax $0$979,066
Part IX · Statement of functional expenses $1,504,782 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $46,750 · Management $8,250$55,000
IX-7 Other salaries and wagesPrograms $43,931 · Management $7,752$51,683
IX-9 Other employee benefitsPrograms $1,958 · Management $345$2,303
IX-10 Payroll taxesPrograms $7,704 · Management $1,360$9,064
IX-11b Legal feesManagement $345$345
IX-11c Accounting feesManagement $575$575
IX-13 Office expensesPrograms $56$56
IX-16 OccupancyPrograms $1,539$1,539
IX-17 TravelPrograms $1,436$1,436
IX-20 InterestPrograms $1,362,841$1,362,841
IX-23 InsurancePrograms $1,612$1,612
IX-24 Other expenses (24a–d)Programs $17,018$17,018
IX-24e All other expensesPrograms $25 · Management $1,285$1,310
IX-25 Total functional expensesPrograms $1,484,870 · Management $19,912 · Fundraising $0$1,504,782
Part X · Balance sheet $102,995,473 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $6,100$157,006
X-2 Savings and temporary cash investments$59,712,361
X-4 Accounts receivable$60,926
X-15 Other assetsStart of year $0$43,065,180
X-16 Total assetsStart of year $6,100$102,995,473
X-17 Accounts payable and accrued expensesStart of year $0$4,619,881
X-20 Tax-exempt bond liabilitiesStart of year $0$98,857,343
X-25 Other liabilitiesStart of year $12,040$1,030
X-26 Total liabilitiesStart of year $12,040$103,478,254
X-32 Total net assets or fund balancesStart of year −$5,940−$482,781
X-33 Total liabilities and net assetsStart of year $6,100$102,995,473
Part XI · Reconciliation of net assets −$482,781 net assets at year end
XI-1 Total revenue$979,066
XI-2 Total expenses$1,504,782
XI-3 Revenue less expenses−$525,716
XI-4 Net assets at start of year−$5,940
XI-5 Net unrealized gains (losses) on investments$48,875
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$482,781

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

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