Totals
- Total revenue
- $392,141
- Total expenses
- $562,420
- Contributions and grants received
- $177,920
- Grants paid
- $0
- Program service revenue
- $105,093
- Investment income
- $15,400
- Other revenue
- $93,728
- Total assets, end of year
- $2,899,242
- Total liabilities, end of year
- $2,430,346
- Net assets or fund balances, end of year
- $468,896
- Program services expenses (Part IX)
- $428,952
- Management and general expenses
- $79,907
- Fundraising expenses
- $53,561
- Program service expenses (Part III)
- $428,952
Program services were 76.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$27,127
-
1f · All other contributions, gifts and grants
$150,793
-
2a · Program service revenue: TOUR INCOME
total $86,693 · related or exempt $86,693
-
2b · Program service revenue: OTHER PROGRAMS
total $18,400 · related or exempt $18,400
-
3 · Investment income
total $15,400 · excluded $15,400
-
6a · Gross rents
real property $11,220
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $11,220
-
6d · Net rental income or loss
total $11,220 · excluded $11,220
-
8a · Fundraising events: gross income
$35,769
-
8b · Fundraising events: direct expenses
$7,925
-
8c · Net income from fundraising events
total $27,844 · excluded $27,844
-
10a · Gross sales of inventory
$23,260
-
10b · Cost of goods sold
$9,952
-
10c · Net income from sales of inventory
total $13,308 · related or exempt $13,308
-
11a · Other revenue: SALES TAX REFUND
total $41,090 · related or exempt $41,090
-
11b · Other revenue: MISCELLANEOUS
total $266 · related or exempt $266
-
11e · Other revenue, total
$41,356
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $64,000 · program services $12,800 · management and general $25,600 · fundraising $25,600
-
7 · Other salaries and wages
total $124,947 · program services $110,023 · management and general $14,924
-
10 · Payroll taxes
total $14,589 · program services $6,565 · management and general $4,012 · fundraising $4,012
-
11c · Fees: accounting
total $12,269 · management and general $12,269
-
12 · Advertising and promotion
total $8,471 · program services $7,624 · fundraising $847
-
13 · Office expenses
total $12,198 · program services $4,066 · management and general $4,066 · fundraising $4,066
-
16 · Occupancy
total $18,079 · program services $14,463 · management and general $1,808 · fundraising $1,808
-
22 · Depreciation, depletion and amortization
total $7,072 · program services $5,658 · management and general $707 · fundraising $707
-
23 · Insurance
total $17,860 · program services $14,288 · management and general $1,786 · fundraising $1,786
-
24a · Other expenses: INTEREST EXPENSE FOR LE
total $111,828 · program services $111,828
-
24b · Other expenses: ROU ASSET AMORTIZATION
total $60,290 · program services $60,290
-
24c · Other expenses: RESTORATION
total $57,704 · program services $57,704
-
24d · Other expenses: UTILITIES
total $28,338 · program services $9,446 · management and general $9,446 · fundraising $9,446
-
24e · All other expenses
total $24,775 · program services $14,197 · management and general $5,289 · fundraising $5,289
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $855 · end of year $14,430
-
2 · Savings and temporary cash investments
beginning of year $486,808 · end of year $457,452
-
8 · Inventories for sale or use
beginning of year $8,173 · end of year $7,777
-
10a · Land, buildings and equipment: cost or other basis
$318,469
-
10b · Land, buildings and equipment: accumulated depreciation
$159,754
-
10c · Land, buildings and equipment, net
beginning of year $150,396 · end of year $158,715
-
15 · Other assets
beginning of year $2,321,158 · end of year $2,260,868
-
19 · Deferred revenue
beginning of year $113,000 · end of year $110,000
-
25 · Other liabilities
beginning of year $2,348,516 · end of year $2,320,346
-
27 · Net assets without donor restrictions
beginning of year $232,247 · end of year $179,986
-
28 · Net assets with donor restrictions
beginning of year $273,627 · end of year $288,910
Mission and programs · 2024
Mission
TO PRESERVE, RESTORE, MAINTAIN, AND INTERPRET THE HISTORIC STRUCTURE FOR THE EDUCATION AND ENJOYMENT OF THE PUBLIC THROUGH TOURS, PROGRAMS, AND SPECIAL EVENTS YEAR-ROUND
Activities or mission (Part I)
THE KORNER'S FOLLY FOUNDATION PRESERVES, INTERPRETS, AND SHARES KORNER'S FOLLY, A DESIGNATED LOCAL HISTORIC LANDMARK LISTED ON THE NATIONAL REGISTER OF HISTORIC PLACES, THROUGH HISTORIC PRESERVATION, EDUCATION, PUBLIC ENGAGEMENT, AND TOURISM COLLABORATION. THE FOUNDATION STEWARDS THE HISTORIC HOUSE, ITS COLLECTIONS, AND THE ARTISTIC LEGACY OF DESIGNER, DECORATOR, AND ENTREPRENEUR JULE GILMER KORNER, WHILE INTERPRETING THE LIVES AND CONTRIBUTIONS OF THE KORNER FAMILY AND THE BROADER HISTORICAL, ARCHITECTURAL, AND CULTURAL CONTEXT IN WHICH THEY LIVED AND WORKED.THE FOUNDATION PROVIDES SELF-GUIDED AND GUIDED TOURS, SCHOOL PROGRAMS, EXHIBITIONS, PUBLIC LECTURES, CONCERTS, WORKSHOPS, COMMUNITY FESTIVALS, AND PRESERVATION INITIATIVES THAT FOSTER APPRECIATION FOR ARCHITECTURE, DECORATIVE ARTS, LOCAL HISTORY, AND TRADITIONAL TRADES. THROUGH PARTNERSHIPS WITH EDUCATIONAL INSTITUTIONS, CIVIC ORGANIZATIONS, LOCAL GOVERNMENTS, TOURISM AGENCIES, AND COMMUNITY GROUPS, THE FOUNDATION EXPANDS ACCE
-
THE KORNER'S FOLLY FOUNDATION PRESERVES, INTERPRETS, AND SHARES KORNER'S FOLLY, A DESIGNATED LOCAL HISTORIC LANDMARK LISTED ON THE NATIONAL REGISTER OF HISTORIC PLACES, THROUGH HISTORIC PRESERVATION, EDUCATION, PUBLIC ENGAGEMENT, AND TOURISM COLLABORATION. THE FOUNDATION STEWARDS THE HISTORIC HOUSE, ITS COLLECTIONS, AND THE ARTISTIC LEGACY OF DESIGNER, DECORATOR, AND ENTREPRENEUR JULIE GILMER KORNER, WHILE INTERPRETING THE LIVES AND CONTRIBUTIONS OF THE KORNER FAMILY AND THE BROADER HISTORICAL, ARCHITECTURAL, AND CULTURAL CONTEXT IN WHICH THEY LIVED AND WORKED.THE FOUNDATION PROVIDES SELF-GUIDED AND GUIDED TOURS, SCHOOL PROGRAMS, EXHIBITIONS, PUBLIC LECTURES, CONCERTS, WORKSHOPS, COMMUNITY FESTIVALS, AND PRESERVATION INITIATIVES THAT FOSTER APPRECIATION FOR ARCHITECTURE, DECORATIVE ARTS, LOCAL HISTORY, AND TRADITIONAL TRADES. THROUGH PARTNERSHIPS WITH EDUCATIONAL INSTITUTIONS, CIVIC ORGANIZATIONS, LOCAL GOVERNMENTS, TOURISM AGENCIES, AND COMMUNITY GROUPS, THE FOUNDATION EXPANDS ACCESS TO CULTURAL RESOURCES WHILE SUPPORTING HERITAGE TOURISM AND ECONOMIC VITALITY THROUGHOUT KERNERSVILLE AND THE SURROUNDING REGION.DURING THE FISCAL YEAR, THE FOUNDATION WELCOMED MORE THAN 16,000 VISITORS AND PROGRAM PARTICIPANTS ACROSS ITS CAMPUS AND VISITORS CENTER, CONTINUED RESTORATION AND PRESERVATION PROJECTS, EXPANDED EDUCATIONAL PROGRAMMING, STRENGTHENED REGIONAL TOURISM PARTNERSHIPS, AND MAINTAINED THE HIGHEST LEVEL OF PUBLIC VISITATION IN THE ORGANIZATION'S HISTORY.
Expenses $428,952 · Revenue $159,757
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Molly BarberMOLLY BARBER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tony BeddickTONY BEDDICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Susan FradenburgSUSAN FRADENBURG
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Jason GrubbsJASON GRUBBS
1ST VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Suzanne HillSUZANNE HILL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Betty Korner-AtkinsBETTY KORNER-ATKINS
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Monte LongMONTE LONG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Spencer McCallSPENCER MCCALL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Neal ParnellNEAL PARNELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Larry RedfearnLARRY REDFEARN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lynn Renee RogersLYNN RENEE ROGERS
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Christian SchroederCHRISTIAN SCHROEDER
PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Kelly SealeyKELLY SEALEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Pat ShawPAT SHAW
2ND VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Edwin WalkerEDWIN WALKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joe WilliamsJOE WILLIAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Suzanna Ritz MalliettSUZANNA RITZ MALLIETT
EXECUTIVE DIRECTOR
- Total calculated
- $64,000
- From this org
- $64,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Schedule J
Answered yes
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 August 2026
- IRS schema version
- 2024v5.5
- Source object
- 202622299349301212
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