Isermann Family Foundation

Morristown, NJ
Tax-exempt since July 1985
EIN: 22-2615361

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Donations to this organization are tax deductible.

Revenue

$1.03M (2024)

Expenses

$754k (2024)

Total Assets

$6.38M (2024)

Total Liabilities

$0 (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$1,031,453

Expenses

$753,973

Net Income

$277,480

Net Assets

$6,381,479

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$27,001	2.6%
Dividends	$135,746	13.2%
Sales of Assets	$868,706	84.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$665,609	88.3%
Compensation of Officers*	$45,000	6.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$6,381,479
Total Liabilities	$0
Net Assets	$6,381,479

Compensation

Key Employees and Officers	Compensation	Other
Gene R Korf (Secy.)	$15,000	$0
Scott Korf (Trustee)	$15,000	$0
Neil Korf (Trustee)	$15,000	$0

990-PF

Filed on May 9, 2025

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2023

Revenue

$344,901

Expenses

$676,974

Net Income

-$332,073

Net Assets

$6,103,999

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$27,038	7.8%
Dividends	$115,438	33.5%
Sales of Assets	$202,425	58.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$589,874	87.1%
Compensation of Officers*	$45,000	6.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$6,103,999
Total Liabilities	$0
Net Assets	$6,103,999

Compensation

Key Employees and Officers	Compensation	Other
Gene R Korf (Secy.)	$15,000	$0
Scott Korf (Trustee)	$15,000	$0
Neil Korf (Trustee)	$15,000	$0

990-PF

Filed on May 15, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2022

Revenue

$110,511

Expenses

$762,305

Net Income

-$651,794

Net Assets

$6,155,663

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$16,271	14.7%
Dividends	$101,092	91.5%
Sales of Assets	-$6,852
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$690,557	90.6%
Compensation of Officers*	$45,000	5.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$6,155,663
Total Liabilities	$0
Net Assets	$6,155,663

Compensation

Key Employees and Officers	Compensation	Other
Gene R Korf (Secy.)	$15,000	$0
Scott Korf (Trustee)	$15,000	$0
Neil Korf (Trustee)	$15,000	$0

990-PF

Filed on June 5, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2021

Revenue

$991,311

Expenses

$767,387

Net Income

$223,924

Net Assets

$6,807,457

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$18	0.0%
Dividends	$111,570	11.3%
Sales of Assets	$879,723	88.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$699,689	91.2%
Compensation of Officers*	$30,000	3.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$6,807,457
Total Liabilities	$0
Net Assets	$6,807,457

Compensation

Key Employees and Officers	Compensation	Other
Gene R Korf (Secy.)	$10,000	$0
Scott Korf (Trustee)	$10,000	$0
Neil Korf (Trustee)	$10,000	$0

990-PF

Filed on May 12, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2020

Revenue

$342,091

Expenses

$661,740

Net Income

-$319,649

Net Assets

$6,583,532

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$6	0.0%
Dividends	$75,045	21.9%
Sales of Assets	$267,040	78.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$602,298	91.0%
Compensation of Officers*	$30,000	4.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$6,583,533
Total Liabilities	$1
Net Assets	$6,583,532

Compensation

Key Employees and Officers	Compensation	Other
Gene R Korf (Secy.)	$10,000	$0
Scott Korf (Trustee)	$10,000	$0
Neil Korf (Trustee)	$10,000	$0

990-PF

Filed on June 15, 2021

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2019

Revenue

-$10,455

Expenses

$692,651

Net Income

-$703,106

Net Assets

$7,008,942

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$14
Dividends	$135,791
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$598,473	86.4%
Compensation of Officers*	$30,000	4.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$7,008,943
Total Liabilities	$1
Net Assets	$7,008,942

Compensation

Key Employees and Officers	Compensation	Other
Gene R Korf (Secy.)	$10,000	$0
Scott Korf (Trustee)	$10,000	$0
Neil Korf (Trustee)	$10,000	$0

990-PF

Filed on June 5, 2020

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

Fiscal Year Ending Dec.
2018

Revenue

$1,649,355

Expenses

$670,102

Net Income

$979,253

Net Assets

$7,712,049

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$11	0.0%
Dividends	$186,901	11.3%
Sales of Assets	$1,462,443	88.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$597,918	89.2%
Compensation of Officers*	$30,000	4.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$7,712,049
Total Liabilities	$0
Net Assets	$7,712,049

Compensation

Key Employees and Officers	Compensation	Other
Gene R Korf (Secy.)	$10,000	$0
Scott Korf (Trustee)	$10,000	$0
Neil Korf (Trustee)	$10,000	$0

990-PF

Filed on June 17, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2017

Revenue

$1,145,677

Expenses

$657,241

Net Income

$488,436

Net Assets

$6,732,796

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$293	0.0%
Dividends	$148,051	12.9%
Sales of Assets	$997,333	87.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$595,354	90.6%
Compensation of Officers*	$20,000	3.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$6,732,796
Total Liabilities	$0
Net Assets	$6,732,796

Compensation

Key Employees and Officers	Compensation	Other
Gene R Korf (Secy.)	$10,000	$0
Scott Korf (Trustee)	$10,000	$0
Betty Isermann (Pres. Treas.)	$0	$0

990-PF

Filed on May 10, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2016

Revenue

$954,593

Expenses

$609,860

Net Income

$344,733

Net Assets

$6,244,360

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$20,784	2.2%
Dividends	$95,261	10.0%
Sales of Assets	$838,548	87.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$583,090	95.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$6,244,360
Total Liabilities	$0
Net Assets	$6,244,360

Compensation

Key Employees and Officers	Compensation	Other
Howard Isermann (Pres. Treas.)	$0	$0
Betty Isermann (Vice Pres.)	$0	$0
Gene R Korf (Secy.)	$0	$0

990-PF

Filed on June 14, 2017

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

Fiscal Year Ending Dec.
2015

Revenue

$672,281

Expenses

$538,061

Net Income

$134,220

Net Assets

$5,899,627

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$12,200	1.8%
Dividends	$92,148	13.7%
Sales of Assets	$567,933	84.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$518,877	96.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$5,899,627
Total Liabilities	$0
Net Assets	$5,899,627

Compensation

Key Employees and Officers	Compensation	Other
Howard Isermann (Pres. Treas.)	$0	$0
Betty Isermann (Vice Pres.)	$0	$0
Carol Isermann (Vice Pres.)	$0	$0
Gene R Korf (Secy.)	$0	$0

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990-PF

Filed on May 11, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$106,799

Expenses

$519,888

Net Income

-$413,089

Net Assets

$5,765,407

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$217	0.2%
Interest Revenue	$17,208	16.1%
Dividends	$70,742	66.2%
Sales of Assets	$18,632	17.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$495,971	95.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$5,765,407
Total Liabilities	$0
Net Assets	$5,765,407

Compensation

Key Employees and Officers	Compensation	Other
Howard Isermann (Pres. Treas.)	$0	$0
Betty Isermann (Vice Pres.)	$0	$0
Carol Isermann (Vice Pres.)	$0	$0
Gene R Korf (Secy.)	$0	$0

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990-PF

Filed on June 8, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$255,707

Expenses

$571,962

Net Income

-$316,255

Net Assets

$6,178,496

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$150,000	58.7%
Interest Revenue	$40,350	15.8%
Dividends	$57,793	22.6%
Sales of Assets	$7,564	3.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$536,603	93.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$6,178,496
Total Liabilities	$0
Net Assets	$6,178,496

Compensation

Key Employees and Officers	Compensation	Other
Howard Isermann (Pres. Treas.)	$0	$0
Betty Isermann (Vice Pres.)	$0	$0
Carol Isermann (Vice Pres.)	$0	$0
Gene R Korf (Secy.)	$0	$0

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990-PF

Filed on July 1, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2012

Revenue

$1,458,326

Expenses

$502,540

Net Income

$955,786

Net Assets

$7,076,976

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$200,000	13.7%
Interest Revenue	$0
Dividends	$122,719	8.4%
Sales of Assets	$1,135,607	77.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$460,250	91.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$7,076,976
Total Liabilities	$0
Net Assets	$7,076,976

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$734,483

Expenses

$468,202

Net Income

$266,281

Net Assets

$6,270,202

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$200,000	27.2%
Interest Revenue	$0
Dividends	$154,776	21.1%
Sales of Assets	$379,707	51.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$437,000	93.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$6,270,202
Total Liabilities	$0
Net Assets	$6,270,202

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Isermann Family Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $1.03M (2024)

Expenses $754k (2024)

Total Assets $6.38M (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$1.03M (2024)

Expenses

$754k (2024)

Total Assets

$6.38M (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

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2022

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2021

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2020

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2019

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2018

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2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
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