Nonprofit · EIN 56-1984048
THE KORNERS FOLLY FOUNDATION
Tax-exempt · KERNERSVILLE, NC 27284
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $392,141 | $562,420 | -$170,279 | $2,899,242 | $2,430,346 | $468,896 |
| September 30, 2024 | 990 | $1,093,873 | $1,905,406 | -$811,533 | $2,967,390 | $2,461,516 | $505,874 |
| September 30, 2023 | 990 | $1,671,982 | $266,786 | $1,405,196 | $2,572,059 | $5,696 | $2,566,363 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $177,920
- Membership dues
- $27,127
- Program service revenue
- $105,093
- Investment income
- $15,400
- Net rental income
- $11,220
- Net income from fundraising events
- $27,844
- Net income from sales of inventory
- $13,308
- Other revenue
- $93,728
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $64,000
- Other salaries and wages
- $124,947
- Salaries, compensation and benefits (total)
- $203,536
- Professional fundraising fees
- $0
- Accounting fees
- $12,269
- Occupancy
- $18,079
- Depreciation
- $7,072
- Program services (functional)
- $428,952
- Management and general (functional)
- $79,907
- Fundraising (functional)
- $53,561
Balance sheet and other
- Total assets, start of year
- $2,967,390
- Total assets, end of year
- $2,899,242
- Total liabilities, end of year
- $2,430,346
- Net assets, end of year
- $468,896
- Land, buildings and equipment
- $158,715
- Net assets without donor restrictions
- $179,986
- Net assets with donor restrictions
- $288,910
- Gross receipts
- $410,018
- Employees
- 10
- Volunteers
- 201
- Year formed
- 1993
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SUZANNA RITZ MALLIETT | EXECUTIVE DIRECTOR Officer | 40 | $64,000 |
| MOLLY BARBER | DIRECTOR Trustee or director | 1 | $0 |
| TONY BEDDICK | DIRECTOR Trustee or director | 1 | $0 |
| SUSAN FRADENBURG | PRESIDENT Trustee or director, Officer | 1 | $0 |
| JASON GRUBBS | 1ST VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| SUZANNE HILL | DIRECTOR Trustee or director | 1 | $0 |
| BETTY KORNER-ATKINS | SECRETARY Trustee or director, Officer | 1 | $0 |
| MONTE LONG | DIRECTOR Trustee or director | 1 | $0 |
| SPENCER MCCALL | DIRECTOR Trustee or director | 1 | $0 |
| NEAL PARNELL | DIRECTOR Trustee or director | 1 | $0 |
| LARRY REDFEARN | DIRECTOR Trustee or director | 1 | $0 |
| LYNN RENEE ROGERS | TREASURER Trustee or director, Officer | 1 | $0 |
| CHRISTIAN SCHROEDER | PAST PRESIDENT Trustee or director, Officer | 1 | $0 |
| KELLY SEALEY | DIRECTOR Trustee or director | 1 | $0 |
| PAT SHAW | 2ND VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| EDWIN WALKER | DIRECTOR Trustee or director | 1 | $0 |
| JOE WILLIAMS | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended September 30, 2024: 16 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SUZANNA RITZ MALLIETT | EXECUTIVE DIRECTOR Trustee or director, Officer | 40 | $61,425 |
| SUSAN FRADENBURG | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| JASON GRUBBS | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| SUZANNE HILL | DIRECTOR Trustee or director | 1 | $0 |
| BETTY KORNER-ATKINS | SECRETARY Trustee or director, Officer | 1 | $0 |
| MONTE LONG | DIRECTOR Trustee or director | 1 | $0 |
| TOM MCDANIEL | DIRECTOR Trustee or director | 1 | $0 |
| NEAL PARNELL | DIRECTOR Trustee or director | 1 | $0 |
| NORMA PEARMAN | PAST PRESIDENT Trustee or director, Officer | 1 | $0 |
| LARRY REDFEARN | DIRECTOR Trustee or director | 1 | $0 |
| LYNN RENEE ROGERS | TREASURER Trustee or director, Officer | 1 | $0 |
| CHRISTIAN SCHROEDER | PRESIDENT Trustee or director, Officer | 1 | $0 |
| KELLY SEALEY | DIRECTOR Trustee or director | 1 | $0 |
| PAT SHAW | DIRECTOR Trustee or director | 1 | $0 |
| EDWIN WALKER | DIRECTOR Trustee or director | 1 | $0 |
| JOE WILLIAMS | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended September 30, 2023: 17 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KATHRYN D BODENHEIMER | PREVIOUS EXECUTIVE DIRECTOR Former | 40 | $63,646 |
| SUZANNA RITZ MALLIETT | EXECUTIVE DIRECTOR Trustee or director | 40 | $54,799 |
| SUSAN FRADENBURG | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| JASON GRUBBS | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| SUZANNE HILL | DIRECTOR Trustee or director | 1 | $0 |
| BETTY KORNER-ATKINS | SECRETARY Trustee or director, Officer | 1 | $0 |
| MONTE LONG | DIRECTOR Trustee or director | 1 | $0 |
| TOM MCDANIEL | DIRECTOR Trustee or director | 1 | $0 |
| NEAL PARNELL | DIRECTOR Trustee or director | 1 | $0 |
| NORMA PEARMAN | PAST PRESIDENT Trustee or director, Officer | 1 | $0 |
| LARRY REDFEARN | DIRECTOR Trustee or director | 1 | $0 |
| LYNN RENEE ROGERS | TREASURER Trustee or director, Officer | 1 | $0 |
| CHRISTIAN SCHROEDER | PRESIDENT Trustee or director, Officer | 1 | $0 |
| KELLY SEALEY | DIRECTOR Trustee or director | 1 | $0 |
| PAT SHAW | DIRECTOR Trustee or director | 1 | $0 |
| EDWIN WALKER | DIRECTOR Trustee or director | 1 | $0 |
| JOE WILLIAMS | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 413 S MAIN ST, KERNERSVILLE, NC 27284-2737
- Principal officer (990 for 2024)
- SUSAN FRADENBURG, 413 SOUTH MAIN STREET, KERNERSVILLE, NC 27284
- Signed the 990
- SUSAN FRADENBURG, PRESIDENT
- Phone
- (336) 996-7922
- Website
- WWW.KORNERSFOLLY.ORG
- Return prepared by
- DMJPS PLLC
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
Program accomplishments
- 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
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 56-1984048
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1997
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A80Z)
- Assets (IRS master file)
- $2,899,242
- Income (IRS master file)
- $410,018
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $392,141 | $562,420 | $2,899,242 | XML |
| 990 | September 2024 | $1,093,873 | $1,905,406 | $2,967,390 | XML |
| 990 | September 2023 | $1,671,982 | $266,786 | $2,572,059 | XML |
| 990 | September 2022 | $424,989 | $288,971 | $1,167,749 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1984048).
Questions about THE KORNERS FOLLY FOUNDATION
- What is the EIN of THE KORNERS FOLLY FOUNDATION?
- The employer identification number (EIN) of THE KORNERS FOLLY FOUNDATION is 56-1984048.
- Is THE KORNERS FOLLY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
- Are donations to THE KORNERS FOLLY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE KORNERS FOLLY FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of THE KORNERS FOLLY FOUNDATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE KORNERS FOLLY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of THE KORNERS FOLLY FOUNDATION?
- The 990 for the year ended September 30, 2025 names SUSAN FRADENBURG.
- Who are the officers and directors of THE KORNERS FOLLY FOUNDATION?
- The 990 for the year ended September 30, 2025 lists 17 people; 1 received compensation from the organization, the highest $64,000 (SUZANNA RITZ MALLIETT, EXECUTIVE DIRECTOR).
- How much revenue does THE KORNERS FOLLY FOUNDATION have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $392,141, expenses of $562,420 and total assets of $2,899,242 at year end.
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