Korman Foundation
Korman Foundation is a private foundation, based in Minneapolis, MN. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $2.7M in total assets. Net investment income was $112K.
Korman Foundation at a glance
- Total assets
- $2,651,638
- +4.3% vs 2024
- Revenue (2025)
- $157,481
- +24.7% vs 2024
- Net investment income (2025)
- $112,332
- +32.7% vs 2024
- Expenses (2025)
- $46,895
- +5.1% vs 2024
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
Who Korman Foundation funds
How this funder distributes its grants
Grant Size Distribution
12 grants across all recorded years
The most common grant size was under $50K: 12 grants of 12 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
How Korman Foundation gives
- Giving held roughly steady from 2020 to 2023 (−8%). Method
- In 2024 it paid out 14% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2023, annual grant giving ranged from $142K (2023) to $160K (2021). In 2023 it made 4 grants totaling $142K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| St Jude Children's Research Hospital Memphis, TN | General Support | $35,462 |
| Ann & Robert Lurie Children's Hospital Chicago, IL | General Support | $35,462 |
| Shriner's Hospital for Children Tampa, FL | General Support | $35,462 |
| The Anti-Cruelty Society Chicago, IL | General Support | $35,462 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $2,651,638 | $157,481 | $46,895 | — | — | — | $112,332 | $143,293 |
| 2024 | $2,541,302 | $126,246 | $44,634 | — | — | $17,825 | $84,663 | $127,590 |
| 2023 | $2,459,862 | $149,989 | $178,381 | $141,848 | 4 | $157,807 | $192,906 | $115,581 |
| 2022 | $2,495,452 | $739,146 | $185,049 | $146,000 | 4 | $162,717 | $236,841 | $115,555 |
| 2021 | $2,286,666 | $261,659 | $197,204 | $160,000 | 4 | $176,895 | $140,191 | $122,338 |
| 2020 | $2,246,510 | $340,770 | $188,989 | $153,400 | 4 | — | $230,167 | $108,503 |
Under IRS private-foundation payout rules, Korman Foundation reported a distributable amount of $143K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Korman Foundation's only listed officer is Ameriprise Bank FSB, Trustee on every filing since 2020 (compensated).
Officers on the 2025 filing
Ameriprise Bank FSB
Trustee
On filings since 2020
1 hr/week
$15K (2020) → $19K (2025)
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $19K, to Ameriprise Bank FSB (Trustee).
Frequently asked questions about Korman Foundation
How large is Korman Foundation?
Korman Foundation reported $2.7M in total assets on its 2025 IRS Form 990-PF. Its revenue that year was $157K.
Where does Korman Foundation operate?
Korman Foundation has awarded grants in Florida, Illinois, Tennessee.
How much is Korman Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, Korman Foundation reported a distributable amount of $143K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Korman Foundation's EIN?
Korman Foundation's EIN (Employer Identification Number) is 82-7116331. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 12, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 13, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 8, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS November 12, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 13, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 12, 2026)
Explore Open Grants
Browse active grant opportunities in Korman Foundation's focus areas in our free grants database
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