1 COR10-31 FOUNDATION

EIN: 993823785 501(c)(3) Philanthropy & Grantmaking

ALPHARETTA, GA

Total Revenue
$4,006,917
Total Expenses
$67,288
Total Assets
$4,006,107
Net Assets
$3,997,140
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2024
Legal Domicile
TN
Principal Officer
KAREN J JONAS
Phone
6788921874
Tax Period
2024-06-27 to 2024-12-31

1 COR10-31 FOUNDATION, founded in 2024, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $4.0M in total revenue in fiscal year 2024. The organization ran a surplus of $3.9M, a strong 98% operating margin.

Mission

TO PROVIDE FUNDING TO CHARITIES IN FULFILLMENT OF THE EXEMPT PURPOSES OF NCCF.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,000,000
Program Service Revenue $0
Investment Income $6,917
Other Revenue $0
TOTAL REVENUE $4,006,917

Expense Breakdown

Grants Paid $67,250
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $67,250
Other Expenses $38
TOTAL EXPENSES $67,288

Year-over-Year Comparison

2024 2023 Change
Revenue $4,006,917 N/A N/A
Expenses $67,288 N/A N/A
Net Income $3,939,629 N/A N/A
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
1
Employees
N/A
Volunteers
N/A

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
0
$0
Total Directors
3
$488,129
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM K ABINGTON III TRUSTEE 1.00
Director
$0 $0 $0
JEFFREY S WALLACE TRUSTEE 1.00
Director
$0 $46,456 $265,550
KAREN J JONAS TRUSTEE 1.00
Director
$0 $21,791 $222,579
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 $4,006,917 $67,288 $4,006,107 $3,939,629
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