KORNER'S FOLLY FOUNDATION INC (EIN 561984048) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

Principal Officer

CHRISTIAN SCHROEDER

Phone

3369967922

Tax Period

2023-10-01 to 2024-09-30

KORNER'S FOLLY FOUNDATION INC, founded in 1993, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $1.9M exceeded revenue, resulting in a 74% operating deficit.

Mission

TO PRESERVE, RESTORE AND MAINTAIN THE HISTORIC STRUCTURE

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $952,547

Program Service Revenue $99,104

Investment Income $5,683

Other Revenue $36,539

TOTAL REVENUE $1,093,873

Expense Breakdown

Grants Paid $0

Salaries & Benefits $178,975

Fundraising Expenses $51,154

Program Expenses $1,790,451

Other Expenses $1,726,431

TOTAL EXPENSES $1,905,406

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,093,873	$1,671,982	-0.3%
Expenses	$1,905,406	$266,786	+6.1%
Net Income	$-811,533	$1,405,196	-1.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

206

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$61,425

Total Directors

$61,425

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN FRADENBURG	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JASON GRUBBS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
SUZANNE HILL	DIRECTOR	1.00	Director	$0	$0	$0
BETTY KORNER-ATKINS	SECRETARY	1.00	Officer Director	$0	$0	$0
MONTE LONG	DIRECTOR	1.00	Director	$0	$0	$0
TOM MCDANIEL	DIRECTOR	1.00	Director	$0	$0	$0
NEAL PARNELL	DIRECTOR	1.00	Director	$0	$0	$0
NORMA PEARMAN	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
LARRY REDFEARN	DIRECTOR	1.00	Director	$0	$0	$0
LYNN RENEE ROGERS	TREASURER	1.00	Officer Director	$0	$0	$0
CHRISTIAN SCHROEDER	PRESIDENT	1.00	Officer Director	$0	$0	$0
KELLY SEALEY	DIRECTOR	1.00	Director	$0	$0	$0
PAT SHAW	DIRECTOR	1.00	Director	$0	$0	$0
EDWIN WALKER	DIRECTOR	1.00	Director	$0	$0	$0
JOE WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
SUZANNA RITZ MALLIETT	EXECUTIVE DIRECTOR	40.00	Officer Director	$61,425	$0	$61,425

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,093,873	$1,905,406	$2,967,390	$-811,533
2023	$1,671,982	$266,786	$2,572,059	$1,405,196
2022	$424,989	$288,971	$1,167,749	$136,018
2021	$504,003	$239,239	$1,029,625	$264,764
2020	$588,191	$354,777	$791,555	$233,414
2019	$303,986	$267,945	$529,832	$36,041
2018	$400,663	$240,940	$492,934	$159,723

KORNER'S FOLLY FOUNDATION INC