KORE ACADEMY INC: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization: KORE ACADEMY INC (EIN 20-1530223)
Tax period: 2024-01-01 to 2024-12-31
Filed: 2025-11-17
IRS object ID: 202533219349307078
Schema version: 2024v5.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule E
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2025-11-17T11:49:54-05:00	ReturnTs
Tax Period End	2024-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	610932881	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	WELCH & COMPANY CPAS PSC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	101A WIND HAVEN DR 101	AddressLine1Txt
City	NICHOLASVILLE	CityNm
State Abbreviation	KY	StateAbbreviationCd
ZIP	403568005	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2024-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	201530223	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	KORE ACADEMY INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	KORE	BusinessNameControlTxt
Phone	8599717129	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	3150 TATES CREEK ROAD	AddressLine1Txt
City	LEXINGTON	CityNm
State Abbreviation	KY	StateAbbreviationCd
ZIP	40502	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	STEPHANIE SPIRES	PersonNm
Person Title	EXECUTIVE DIRECTOR	PersonTitleTxt
Phone	8599717129	PhoneNum
Signature	2025-11-17	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	false	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	STEPHANIE R WELCH	PreparerPersonNm
PTIN	P00568551	PTIN
Phone	8592248909	PhoneNum
Preparation	2025-11-17	PreparationDt

Field	Value	IRS element (for citing)
Tax	2024	TaxYr
Build TS	2025-03-06 01:10:19Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	TIM MARTIN	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	3362 MONTAVESTA RD	AddressLine1Txt
City	LEXINGTON	CityNm
State Abbreviation	KY	StateAbbreviationCd
ZIP	40502	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$476,512	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	HTTPS://WWW.KOREACADEMY.ORG	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	2004	FormationYr
Activity Or Mission	EDUCATION PROVIDED FOR STUDENTS IN PRIMARY AND SECONDARY LEVEL WITH VARIOUS LEARNING DISABILITIES.	ActivityOrMissionDesc
Voting Members Governing Body	8	VotingMembersGoverningBodyCnt
Voting Members Independent	8	VotingMembersIndependentCnt
Total Employee	18	TotalEmployeeCnt
Total Gross UBI	$0	TotalGrossUBIAmt
PY Contributions Grants	$21,382	PYContributionsGrantsAmt
CY Contributions Grants	$20,103	CYContributionsGrantsAmt
PY Program Service Revenue	$444,399	PYProgramServiceRevenueAmt
CY Program Service Revenue	$455,303	CYProgramServiceRevenueAmt
CY Investment Income	$0	CYInvestmentIncomeAmt
PY Other Revenue	$3,753	PYOtherRevenueAmt
CY Other Revenue	$1,106	CYOtherRevenueAmt
PY Total Revenue	$469,534	PYTotalRevenueAmt
CY Total Revenue	$476,512	CYTotalRevenueAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$447,178	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$443,313	CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns	$2,973	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$2,973	CYTotalFundraisingExpenseAmt
PY Other Expenses	$102,527	PYOtherExpensesAmt
CY Other Expenses	$104,975	CYOtherExpensesAmt
PY Total Expenses	$549,705	PYTotalExpensesAmt
CY Total Expenses	$551,261	CYTotalExpensesAmt
PY Revenues Less Expenses	-$80,171	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	-$74,749	CYRevenuesLessExpensesAmt
Total Assets BOY	$155,212	TotalAssetsBOYAmt
Total Assets EOY	$105,418	TotalAssetsEOYAmt
Total Liabilities EOY	$24,955	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$155,212	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$80,463	NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part III	Yes (X)	InfoInScheduleOPartIIIInd
Mission	EDUCATION PROVIDED FOR STUDENTS IN PRIMARY AND SECONDARY LEVEL WITH VARIOUS LEARNING DISABILITIES.	MissionDesc
Significant New Program Srvc	false	SignificantNewProgramSrvcInd
Significant Change	false	SignificantChangeInd
Desc	EDUCATION PROVIDED FOR STUDENTS IN PRIMARY AND SECONDARY LEVEL WITH VARIOUS LEARNING DISABILITIES.	Desc

Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp

Field	Value	IRS element (for citing)
Expense	$515,049	ExpenseAmt
Desc	EDUCATION PROVIDED FOR STUDENTS IN PRIMARY AND SECONDARY LEVEL WITH VARIOUS LEARNING DISABILITIES.	Desc

Field	Value	IRS element (for citing)
Total Other Prog Srvc Expense	$515,049	TotalOtherProgSrvcExpenseAmt
Total Program Service Expenses	$515,049	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (true)	DescribedInSection501c3Ind
Schedule B Required	false	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Lobbying Activities	false	LobbyingActivitiesInd
Subject To Proxy Tax	false	SubjectToProxyTaxInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	false	CollectionsOfArtInd
Credit Counseling	false	CreditCounselingInd
Donor Rstr Or Quasi Endowments	false	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	false	ReportLandBuildingEquipmentInd
Report Investments Other Sec	false	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	false	ReportOtherAssetsInd
Report Other Liabilities	false	ReportOtherLiabilitiesInd
Include FIN48 Footnote	false	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	false	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	false	ConsolidatedAuditFinclStmtInd
School Operating	Yes (true)	SchoolOperatingInd
Foreign Office	false	ForeignOfficeInd
Foreign Activities	false	ForeignActivitiesInd
More Than5000 K To Org	false	MoreThan5000KToOrgInd
More Than5000 K To Individuals	false	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	false	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	false	GrantsToOrganizationsInd
Grants To Individuals	false	GrantsToIndividualsInd
Schedule J Required	false	ScheduleJRequiredInd
Tax Exempt Bonds	false	TaxExemptBondsInd
Engaged In Excess Benefit Trans	false	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	false	PYExcessBenefitTransInd
Loan Outstanding	false	LoanOutstandingInd
Grant To Related Person	false	GrantToRelatedPersonInd
Business Rln With Org Mem	false	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	false	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	false	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	false	DeductibleNonCashContriInd
Deductible Art Contribution	false	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	false	PartialLiquidationInd
Disregarded Entity	false	DisregardedEntityInd
Related Entity	false	RelatedEntityInd
Related Organization Ctrl Ent	false	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	false	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
IRP Document	1	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	18	EmployeeCnt
Employment Tax Returns Filed	Yes (true)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	false	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Taxable Party Notification	false	TaxablePartyNotificationInd
Nondeductible Contributions	false	NondeductibleContributionsInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	false	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	8	GoverningBodyVotingMembersCnt
Independent Voting Member	8	IndependentVotingMemberCnt
Family Or Business Rln	false	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	false	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	false	MembersOrStockholdersInd
Election Of Board Members	false	ElectionOfBoardMembersInd
Decisions Subject To Approva	false	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (true)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (true)	MinutesOfCommitteesInd
Officer Mailing Address	false	OfficerMailingAddressInd
Local Chapters	false	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (true)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	false	ConflictOfInterestPolicyInd
Whistleblower Policy	Yes (true)	WhistleblowerPolicyInd
Document Retention Policy	Yes (true)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (true)	CompensationProcessCEOInd
Compensation Process Other	Yes (true)	CompensationProcessOtherInd
Investment In Joint Venture	false	InvestmentInJointVentureInd
States Where Copy Of Return Is Fld	KY	StatesWhereCopyOfReturnIsFldCd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	CYNTHIA ZIMMERMANN	PersonNm
Phone	8599717129	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	2228 LOVELL CT	AddressLine1Txt
City	LEXINGTON	CityNm
State Abbreviation	KY	StateAbbreviationCd
ZIP	40513	ZIPCd

Field	Value	IRS element (for citing)
No Listed Persons Compensated	Yes (X)	NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (8 entries)

TitleTitleTxt	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd
TIM MARTIN
PRESIDENT	Yes (X)	$0	$0	$0
JAMIE LYNN POTTER
SECRETARY	Yes (X)	$0	$0	$0
TODD PEYTON
DIRECTOR		$0	$0	$0	Yes (X)
MICHAEL COBB
TREASURER	Yes (X)	$0	$0	$0
ASHA GIBSON
DIRECTOR		$0	$0	$0	Yes (X)
KENDALL ANDERSON
DIRECTOR		$0	$0	$0	Yes (X)
KATHERINE LYNCH
DIRECTOR		$0	$0	$0	Yes (X)
JOANA WILLIAMS
DIRECTOR		$0	$0	$0	Yes (X)

Field	Value	IRS element (for citing)
Former Ofcr Employees Listed	false	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	false	TotalCompGreaterThan150KInd
Compensation From Other Srcs	false	CompensationFromOtherSrcsInd
Government Grants	$20,103	GovernmentGrantsAmt
Total Contributions	$20,103	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDesc	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
TUITION & FEES	$445,307	$445,307
STUDENT ACTIVITIES	$5,213	$5,213
EXTENDED CARE	$4,783	$4,783

Field	Value	IRS element (for citing)
Total Program Service Revenue	$455,303	TotalProgramServiceRevenueAmt

Other Revenue Misc OtherRevenueMiscGrp

Field	Value	IRS element (for citing)
Desc	KROGER REBATE	Desc
Total Revenue Column	$1,106	TotalRevenueColumnAmt
Related Or Exempt Func Income	$1,106	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$1,106	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$476,512	TotalRevenueColumnAmt
Related Or Exempt Func Income	$456,409	RelatedOrExemptFuncIncomeAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$397,093	TotalAmt
Program Services	$367,320	ProgramServicesAmt
Management And General	$29,773	ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$46,220	TotalAmt
Program Services	$42,754	ProgramServicesAmt
Management And General	$3,466	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$4,787	TotalAmt
Program Services	$4,787	ProgramServicesAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

Field	Value	IRS element (for citing)
Total	$2,973	TotalAmt
Fundraising	$2,973	FundraisingAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$900	TotalAmt
Program Services	$900	ProgramServicesAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$5,361	TotalAmt
Program Services	$5,361	ProgramServicesAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$11,333	TotalAmt
Program Services	$11,333	ProgramServicesAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$6,611	TotalAmt
Program Services	$6,611	ProgramServicesAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$32,706	TotalAmt
Program Services	$32,706	ProgramServicesAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$1,430	TotalAmt
Program Services	$1,430	ProgramServicesAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$1,842	TotalAmt
Program Services	$1,842	ProgramServicesAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$12,318	TotalAmt
Program Services	$12,318	ProgramServicesAmt

Other Expenses OtherExpensesGrp

Field	Value	IRS element (for citing)
Desc	PROGAM EXPENSES	Desc
Total	$27,687	TotalAmt
Program Services	$27,687	ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$551,261	TotalAmt
Program Services	$515,049	ProgramServicesAmt
Management And General	$33,239	ManagementAndGeneralAmt
Fundraising	$2,973	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$115,345	BOYAmt
EOY	$68,722	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$39,867	BOYAmt
EOY	$36,696	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$155,212	BOYAmt
EOY	$105,418	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
EOY	$6,205	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
EOY	$18,750	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$24,955	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$155,212	BOYAmt
EOY	$80,463	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$155,212	BOYAmt
EOY	$80,463	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$155,212	BOYAmt
EOY	$105,418	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	-$74,749	ReconcilationRevenueExpnssAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	false	AccountantCompileOrReviewInd
FS Audited	false	FSAuditedInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
School	Yes (X)	SchoolInd

Schedule E IRS990ScheduleE

Field	Value	IRS element (for citing)
Nondiscriminatory Policy Stmt	Yes (true)	NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures Etc	Yes (true)	PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast Media	Yes (true)	PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp Recs	Yes (true)	MaintainRacialCompRecsInd
Maintain Scholarships Recs	Yes (true)	MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures Etc	Yes (true)	MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All Sol	Yes (true)	MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts	false	DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy	false	DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty	false	DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs	false	DiscriminateRaceSchsInd
Discriminate Race Educ Plcy	false	DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts	false	DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog	false	DiscriminateRaceAthltProgInd
Discriminate Race Other Acty	false	DiscriminateRaceOtherActyInd
Government Financial Aid Rcvd	false	GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd	false	GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550	Yes (true)	ComplianceWithRevProc7550Ind

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PAGE 2, PART III, LINE 4D	EDUCATION PROVIDED FOR STUDENTS IN PRIMARY AND SECONDARY LEVEL WITH VARIOUS LEARNING DISABILITIES.
FORM 990, PAGE 6, PART VI, LINE 11B	THE RETURN IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND REVIEWED BY THE TRESURER. THE RETURN IS THEN PROVIDED TO THE GOVERNING BODY.
FORM 990, PAGE 6, PART VI, LINE 15A	COMPENSATION IS REVIEWED ANNUALLY BY GOVERNING BODY AND ADJUSTED ACCORDING TO PERFORMANCE AND TENURE.
FORM 990, PAGE 6, PART VI, LINE 15B	COMPENSATION IS REVIEWED ANNUALLY BY GOVERNING BODY AND ADJUSTED ACCORDING TO PERFORMANCE AND TENURE.
FORM 990, PAGE 6, PART VI, LINE 19	THE PUBLIC MAY OBTAIN ORGANIZATION DOCUMENTS BY SUBMITTING A REQUEST IN WRITING TO THE ORGANIZATIONS OFFICE ADDRESS OR THE TREASURER.