The Korners Folly Foundation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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
- Income
- $392,141
- Spending
- $562,420
- Spent on programs
- 76%
- Reserves
- 0.5 months of spending
- Largest source of income
- donations and private grants, 45%
- Employees
- 10
- Volunteers
- 201
- Highest pay
- $64,000, executive director
Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 21 out of 100. Higher than 2% of charities in its peer group (arts and culture, $250k to $1m).
Reserves
4 of 35Spendable reserves would cover 0.5 months of spending.
Debt
2 of 20It owes 84% of what it owns.
Living within its means
0 of 15Spending exceeded income by 43% of income.
Income trend
0 of 15Income fell 64% on the year before.
Spending floor
15 of 1576% of spending went to programs and raising each dollar of donations cost 30 cents.
Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 91 out of 100. Higher than 79% of charities in its peer group (arts and culture, $250k to $1m).
Independent board
25 of 2516 of 16 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
6 of 15Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $428,952 spent. 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.
Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending September 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since February 1997.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.