2025-10-23T06:38:24-05:00 2024-12-31 Foundation Source 3333 New Hyde Park Rd Ste 406 New Hyde Park NY 11042 990PF 2024-01-01 853267281 Korndrop Family Foundation % Foundation Source KORN 8008391754 Foundation Source 501 Silverside Rd Wilmington DE 198091377 Valerie K Waldrop Co-President 8008391754 2025-10-15 true true Jeffrey D Haskell P01345770 8008391754 2024 2025-03-06 01:10:19Z X 2169313 X 0 X 1721 1721 50661 38833 90931 424223 124150 13 143326 164704 0 20930 20930 400 14298 -15 14313 35628 20915 14313 102500 102500 138128 20915 116813 5198 143789 0 61354 99962 99962 309352 291509 243062 1407468 1372132 1673772 144701 164470 152517 1922875 1928073 2169313 0 0 X 1922875 1928073 1922875 1928073 1922875 1928073 1922875 5198 1928073 1928073 Publicly-traded Securities 424223 300073 124150 124150 124150 1999 1999 1999 73 0 2000 2073 X 0 74 74 false false false false false false false true true DE true false false false false true Foundation Source 8008391754 501 Silverside Road Suite 123 Wilmington DE 198091377 false false false false false false false false false false false false false false false false false false false false false Marc J Kornmesser Foundation Source 501 Silverside Rd Wilmington DE 198091377 Co- Pres, Treas, Dir 1.0 0 0 0 Valerie K Waldrop Foundation Source 501 Silverside Rd Wilmington DE 198091377 Co- Pres, Dir, Sec 1.0 0 0 0 2111162 55509 0 2166671 0 2166671 32500 2134171 106709 106709 1999 1999 104710 104710 104710 116813 0 0 0 0 116813 104710 59741 116813 59741 57072 0 0 47638 0 0 Marc J Kornmesser Valerie K Waldrop X ALASKA PUBLIC MEDIA INC 3877 UNIVERSITY DR ANCHORAGE AK 99508 N/A PC General & Unrestricted 7500 ALASKA SPORTS HALL OF FAME INC 11901 INDUSTRY WAY STE A9 ANCHORAGE AK 99515 N/A PC Game Changer program 5000 ALASKA ZOO 4731 OMALLEY RD ANCHORAGE AK 99507 N/A PC General & Unrestricted 10000 ASHEVILLE HUMANE SOCIETY INC 14 FOREVER FRIEND LN ASHEVILLE NC 28806 N/A PC General & Unrestricted 10000 FRIENDS OF CHUGACH NATIONAL FOREST AVALANCHE INFOR 145 FOREST STA ROAD GIRDWOOD AK 99587 N/A PC General & Unrestricted 2500 FRIENDS OF FOOTHILLS ANIMAL SHELTER 580 MCINTYRE ST GOLDEN CO 80401 N/A PC General & Unrestricted 5000 HAWAII COMMUNITY FOUNDATION 827 FORT ST MALL HONOLULU HI 96813 N/A PC General & Unrestricted 15000 HEALTH VOLUNTEERS OVERSEAS 1900 L ST NW STE 310 WASHINGTON DC 20036 N/A PC General & Unrestricted 10000 MALARIA CONSORTIUM US PO BOX 6334 HERMITAGE PA 16148 N/A PC General & Unrestricted 25000 MAUI HUMANE SOCIETY INC PO BOX 1047 PUUNENE HI 96784 N/A PC General & Unrestricted 2500 RENEWABLE ENERGY ALASKA PROJECT PO BOX 90088 ANCHORAGE AK 99509 N/A PC General & Unrestricted 5000 THE ALASKA CENTER EDUCATION FUND 3350 COMMERCIAL DR STE 101 ANCHORAGE AK 99501 N/A PC General & Unrestricted 5000 102500 14 1721 14 50661 18 90931 Federal Tax Refund 01 13 143326 143326 false false false false false false false false false false AMAZON COM INC - 3.150% - 08/2 11465 9655 HOME DEPOT INC - 2.950% - 06/1 11247 9274 JOHNSON &JOHNSON - 2.900% - 01 11216 9559 MASTERCARD INC - 2.950% - 11/2 11169 9724 MASTERCARD INC - 3.350% - 03/2 19144 18687 META PLATFORMS INC - 4.750% - 19769 19480 NIKE INC - 2.750% - 03/27/2027 11115 9641 PROCTER &GAMBLE CO NOTE - 2.70 11141 9818 REALTY INCOME CORP - 3.250% - 16744 18059 SALESFORCE COM - 3.700% - 04/1 18876 19473 UNITEDHEALTH GROUP INC - 2.875 11268 9192 WALMART INC - 3.550% - 06/26/2 11316 9955 ABBOTT LABS 5585 5882 ABBVIE INC 9235 10129 ACCENTURE PLC 10700 11961 ALPHABET INC CL A 17885 38617 AMAZON COM 27050 40368 APPLE INC 26616 50084 BAIRD CORE PLUS BD FD INSTI CL 295827 296390 BERKSHIRE HATHAWAY INC. CLASS 12696 19944 CADENCE DESIGN SYSTEMS INC 7478 7211 CHIPOTLE MEX GRILL 4606 8683 CONOCOPHILLIPS 5382 8826 COPART INC 5807 9642 COSTCO WHOLESALE CORPORATION 12952 32069 DANAHER CORP 13494 14003 ELI LILLY & CO 12661 13124 FASTENAL COMPANY 11702 15964 GENERAL ELECTRIC CO 14122 13010 HOME DEPOT INC 9426 13615 ILLINOIS TOOL WORKS 9422 11157 INTERCONTINENTAL EXCHANGE, INC 9312 11772 INTUIT 4249 6285 ISHARE SP SMALL CAP 600 INDEX 34948 42055 ISHARES CORE MSCI EMERGING MAR 33626 35092 ISHARES GOLD TR 25444 35746 ISHARES MSCI EAFE VALUE INX 48064 53834 ISHARES TRUST RUSSELL MIDCAP I 48917 63383 ISHARESLEHMAN 7-10YR 114769 112603 JP MORGAN CHASE 9609 18697 LINDE PLC COM 8792 12979 MARSH AND MCLENNAN COMPANIES I 7825 11895 MASTERCARD INC 18277 28961 MCDONALD'S CORP 5928 8117 META PLATFORMS INC 19021 29861 MFS INTL INTRINSIC VALUE FD I 133385 106159 MICROSOFT CORP 27722 48473 NVIDIA CORP 10804 56670 O'REILLY AUTOMOTIVE INC 5411 14230 PRINCIPAL MIDCAP FUND; R6 52179 63822 PROCTER GAMBLE CO 10892 12238 REAL ESTATE SELECT SECTOR SPDR 34922 35383 S&P GLOBAL INC COM 8634 13447 SALESFORCE.COM 6621 10699 SERVICE NOW 7032 13782 SHERWIN-WILLIAMS CO 5896 7818 TEXAS INSTRUMENTS INC 8271 9188 THERMO FISHER SCIENTIFIC INC 12131 13526 UNION PACIFIC 8596 9578 UNITEDHEALTH GROUP INC 12430 18211 VALERO ENERGY CORP 3838 8336 VANGUARD VALUE ETF 44398 63657 VISA INC 9145 13906 WCM FOCUSED INTL GROWTH FUNDS 57995 52262 ZOETIS INC 10403 10428 9913 9848 281596 233214 Administrative Fees 14288 14288 Bank Charges -15 -15 State or Local Filing Fees 25 25 Federal Tax Refund 13 Investment Management Services 20930 20930 We respectfully request that the Korndrop Family Foundation's quarterly estimated taxes for taxable year ending December 31, 2024 be treated as timely and request that the $8 penalty indicated on Form 2220 be abated because the underpayment in Q4 was due to reasonable cause. Treasury Regulations Sec 301.6651-1(c)(1) defines reasonable by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to calculate its quarterly estimates for tax period ending December 31, 2024. The firm's software correctly determined that the foundation could pay its Q4 estimate based on prior year tax liability. However, since that liability was under $500, the software incorrectly indicated that no quarterly payment was due. As soon as the error was discovered, the foundation paid the required tax. We believe that the underpayment was due to reasonable cause and in no way due to an intentional disregard for the rules and respectfully request that no 2220 penalty be assessed. 990-PF Extension for 2023 400