Korndrop Family Foundation
EIN 853267281 Private FoundationAbout
We respectfully request that the Korndrop Family Foundation's quarterly estimated taxes for taxable year ending December 31, 2024 be treated as timely and request that the $8 penalty indicated on Form 2220 be abated because the underpayment in Q4 was due to reasonable cause. Treasury Regulations Sec 301.6651-1(c)(1) defines reasonable by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to calculate its quarterly estimates for tax period ending December 31, 2024. The firm's software correctly determined that the foundation could pay its Q4 estimate based on prior year tax liability. However, since that liability was under $500, the software incorrectly indicated that no quarterly payment was due. As soon as the error was discovered, the foundation paid the required tax. We believe that the underpayment was due to reasonable cause and in no way due to an intentional disregard for the rules and respectfully request that no 2220 penalty be assessed.
Application Information
Financial Trends
Giving Over Time
Total Assets Over Time
View financial data as table
| Year | Total Giving | Total Assets | Revenue | Grants |
|---|---|---|---|---|
| 2021 | $84K | $2.3M | $122K | 9 |
| 2022 | $42K | $1.9M | $33K | 4 |
| 2023 | $68K | $2.1M | $62K | 5 |
| 2024 | $102K | $2.2M | $143K | 12 |
Grant Size Distribution
Based on 30 grants on record
Geographic Distribution
Officers & Directors
Grants Awarded (30 total)
| Purpose | ||||
|---|---|---|---|---|
| Malaria Consortium Us | Raleigh, NC | $25,000 | General & Unrestricted | 2022 |
| Malaria Consortium Us | Raleigh, NC | $25,000 | General & Unrestricted | 2021 |
| Hawaii Community Foundation | Honolulu, HI | $25,000 | Maui strong foundation for the west Maui wild fire victims | 2023 |
| Maui Humane Society Inc | Puunene, HI | $25,000 | General & Unrestricted | 2023 |
| Malaria Consortium Us | Hermitage, PA | $25,000 | General & Unrestricted | 2024 |
| Hawaii Community Foundation | Honolulu, HI | $15,000 | General & Unrestricted | 2024 |
| The Alaska Center Education Fund | Anchorage, AK | $10,000 | General & Unrestricted | 2022 |
| Alaska Public Media Inc | Anchorage, AK | $10,000 | General & Unrestricted | 2021 |
| Singletrack Advocates | Anchorage, AK | $10,000 | General & Unrestricted | 2021 |
| The Alaska Center Education Fund | Anchorage, AK | $10,000 | General & Unrestricted | 2021 |
| Youth Exploring Adventure Inc | Anchorage, AK | $10,000 | General & Unrestricted | 2021 |
| Alaska Zoo | Anchorage, AK | $10,000 | General & Unrestricted | 2024 |
| Asheville Humane Society Inc | Asheville, NC | $10,000 | General & Unrestricted | 2024 |
| Health Volunteers Overseas | Washington, DC | $10,000 | General & Unrestricted | 2024 |
| Renewable Energy Alaska Project | Anchorage, AK | $7,500 | General & Unrestricted | 2021 |
| Renewable Energy Alaska Project | Anchorage, AK | $7,500 | General & Unrestricted | 2023 |
| Alaska Public Media Inc | Anchorage, AK | $7,500 | General & Unrestricted | 2024 |
| Alaska Sports Hall of Fame Inc | Anchorage, AK | $5,000 | Game Changer program | 2022 |
| Alaska Sports Hall of Fame Inc | Anchorage, AK | $5,000 | General & Unrestricted | 2021 |
| Nordic Skiing Association of Anchorage | Anchorage, AK | $5,000 | General & Unrestricted | 2021 |
| Alaska Sports Hall of Fame Inc | Anchorage, AK | $5,000 | Game Changer program | 2023 |
| The Alaska Center Education Fund | Anchorage, AK | $5,000 | General & Unrestricted | 2023 |
| Alaska Sports Hall of Fame Inc | Anchorage, AK | $5,000 | Game Changer program | 2024 |
| Friends of Foothills Animal Shelter | Golden, CO | $5,000 | General & Unrestricted | 2024 |
| Renewable Energy Alaska Project | Anchorage, AK | $5,000 | General & Unrestricted | 2024 |
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