Core Foundation

Nonprofit profile at a glance

EIN
883213942
IRS 990 coverage
2022–2023
Forms available
Form 990 2023
Location
Potomac, MD, USA
Phone
2026564922
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Media, Communications Organizations

Official website

Reported finances

Revenue
$9,954,200
Expenses
$579,568
Assets
$9,653,200
Liabilities
$278,568

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

5 people listed

People named in this filing

  • KEATON FLAESCH (TREASURER/SECRETARY)
  • MARTINE N DUBIN (FOUNDER/CHAIR)
  • NAOMI FIRESTONE (BOARDMEMBER / DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Core foundation's mission is to research, create, and share meaningful stories and knowledge through core studio, make them freely accessible to global audiences through core access, and expand learning and community engagement through core+. As a nonprofit, core is dedicated to opening the world of ideas, culture, and human experience to everyone, empowering people across all backgrounds to learn, connect, and take part in a more informed and inspired world.

What it reported doing in 2023

We understand the blindspots and challenges experienced while doing good work. From getting projects off the ground to executing on a plan, we improve the chances of a project's success.from insurance to banking to tax reporting, our focus is removing obstacles which bring charitable idea to life.we work closely with our core cause leaders to plan for their success. Through mentoring and training, we help our causes achieve the goals of their mission.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 34
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 95
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 4%; rating input score 4
  • Program expense ratio: 68.1%; rating input score 68
  • Fundraising efficiency: $96.18 raised per $1 spent on fundraising; rating input score 86; 86th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 94.2%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 16.66; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: 176.5% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: 198% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 200% per year; rating input score 100; 100th percentile among comparable filings

Details

  • Where the money goes: 4% of revenue deployed · 68.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $395K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 2 filing years from 2022 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 4/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.