Private foundation
SOMERSET, NJEIN
The funder's latest Form 990-PF says it accepts applications. Read the instructions below before you write.
Application policy: Accepts applications, as stated on the FY2025 return.
These lines count this foundation's own Form 990-PF returns that the IRS has published as data. An amended return replaces its original. They describe past returns only.
This is a count from past returns. It does not say the foundation will consider a new request. How it is counted: names are compared as written on the returns, without "The" at the start, without endings such as "Inc" or "LLC", and without spaces and punctuation. A recipient also counts as already listed when our records link it to the same organization as an earlier recipient, or when its name is almost the same as an earlier name (a trigram similarity of 0.8 or more, where 1 means identical). The state on the grant row is not compared. Grants that the foundation marked as paid to an individual, such as a scholarship, are left out of both numbers, and no count is shown when most of its grants are marked that way. A person whom the foundation did not mark as an individual is still counted as a recipient. A recipient can still look new when its name is written very differently from year to year, and two different recipients with almost the same name can be counted as one.
Application guidance comes from the funder's own Form 990-PF, Part XV (the section where a private foundation says how to apply), shown as filed. It is the funder's words, not ours. These fields are free text and the IRS form cuts them short. Filers sometimes put whole sentences in the contact-name box. Shown exactly as filed.
Giving by year
Total assets by year
| Year | Form | Revenue | Expenses | Giving | Assets | Net assets |
|---|---|---|---|---|---|---|
| FY2025 | 990-PF | $5,022,543 | $4,544,931 | $3,946,574 | $18,032,634 |
Figures are as reported on the e-filed return, with no restatement. Fiscal years are the funder's own tax year, labelled by the calendar year the period ends in. A blank line means the return does not carry that figure; a real zero shows as $0. When an amended return replaces an original, every figure here uses the amended return. The original is not shown. Giving is what the funder actually paid out toward its charitable purpose in the year (qualifying distributions on Form 990-PF, charitable disbursements otherwise). Assets are what it holds; giving is what moves.
Recipient focus areas
Where recipients are
Based on the 16% of grant rows we could match to an organization record. The rest stay as reported. The IRS assigns the NTEE category when it grants exemption. It often reflects the original filing, not today's giving.
No grant rows from public filings are on record for this funder. Grant lists come from Form 990-PF and from Schedule I of Form 990; a return the IRS has not yet published, or one with no grant list, has no rows here.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Gene R Korf | TRUSTEE | 15.00 | $50,000 |
| Scott Korf | TRUSTEE | 15.00 | $50,000 |
| Harvey S Rich | TRUSTEE | 15.00 | $50,000 |
| Laura Zagoren Baron | TRUSTEE/PRES |
From the officer list on the latest e-filed return. Compensation is as reported there; a blank means the return carries no figure.
| $18,032,634 |
| FY2024 | 990-PF | $4,813,268 | $4,627,848 | $4,109,683 | $17,555,022 | $17,555,022 |
| FY2023 | 990-PF | $4,317,133 | $4,671,993 | $4,106,918 | $17,369,602 | $17,369,602 |
| FY2022 | 990-PF | $5,799,111 | $4,692,966 | $4,129,765 | $17,724,462 | $17,724,462 |
| FY2021 | 990-PF | $6,296,059 | $4,483,817 | $3,945,218 | $16,618,317 | $16,618,317 |
| FY2020 | 990-PF | $4,451,893 | $4,637,924 | $4,055,832 | $14,806,075 | $14,806,075 |
| 25.00 |
| $75,000 |
| Richard A Patt Md | TRUSTEE | 15.00 | $50,000 |
| Robert Zagoren | TRUSTEE | 15.00 | $50,000 |
Nearest by size, location and giving pattern in the database. Geography weighs heavily. Treat it as a starting list, not a ranking of fit.
Form 990-PF · FY2024 · period ending Sep 30, 2024IRS bulk XML
Filing id 202540349349100959
Form 990-PF · FY2023 · period ending Sep 30, 2023IRS bulk XML
Filing id 202410389349100716
Form 990-PF · FY2022 · period ending Sep 30, 2022
Filing id 202330329349100603
Form 990-PF · FY2021 · period ending Sep 30, 2021
Filing id 202210419349101501
Form 990-PF · FY2020 · period ending Sep 30, 2020
Filing id 202110399349100301
IRS filings are the source for every fact on this page. Nothing a model writes is ever a source; it can only point at a row here.