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PeerBasis

Compensation Comparability Determination

Cordes Foundation

Executive Director / CEO

EIN 251926063
MD · NTEE T22
FY ending 2024-12-31
June 9, 2026

This analysis benchmarks the total compensation of Tim Freundlich, Executive Director / CEO ($27,839) against every comparable organization that fit the selection criteria — 6 in total — drawn systematically from IRS Form 990 filings, not a hand-picked subset.

Compensation sits at approximately the 17^th percentile of comparable organizationsbelow the typical range for comparable organizations

How comparable organizations were selected

SectorOrganizations sharing the subject's NTEE classification (T22).
BudgetTotal revenue between $600 and $2,400 — 0.50× to 2.00× the subject's $1,200 (the band tightens as size grows).
GeographySame NTEE major group (T), nationwide + budget 0.5–2× revenue.

6 organizations qualified on sector, size, and geography → 6 within the band form the benchmarked peer set.

Distribution of comparable compensation

$29,46610th

$32,03425th

$45,385Median

$94,19575th

$197,77590th

$27,839This org · 17th

p10$29,466

p25$32,034

p50$45,385

p75$94,195

p90$197,775

$27,839

Comparable organizations

Each figure is Form 990 Part VII columns D + F (reportable pay plus other compensation and benefits; column F may include amounts from related organizations), normalized to MD cost of living (BEA RPP, 2023) and to its filing year (CPI-U); the reported amount is on each linked 990.

Organization	State	Total revenue	Total comp	Source
Hrsa-ila Welfare Fund	VA	$867	$58,717	990
Ibew Disaster Fund Nyc Inc	NY	$755	$106,021	990
Okada Family Foundation Inc	TX	$750	$32,053	990
El Proyecto Del Barrio Foundation	CA	$1,675	$32,027	990
Blue Water Ymca Foundation	MI	$708	$26,904	990
Samuel I Adler Family	FL	$1,746	$289,528	990

Methodology

Comparable organizations were drawn from electronically filed IRS Form 990 returns and matched on sector (NTEE code), budget (a size-adaptive revenue band that tightens as the organization grows), and geography (same-state first, broadening only when too few peers qualify); every organization within the band forms the peer set. To compare fairly across regions and years, peer compensation is normalized to MD cost of living (BEA Regional Price Parities, 2023) and to the subject's filing year (CPI-U). The figure benchmarked is Form 990 Part VII, Section A, columns D + F — reportable pay plus other compensation, benefits, and deferred amounts (column F may include amounts from related organizations) — with the chief executive matched by role. Related-organization amounts (column E) and institutional trustees are excluded. Full methodology: peerbasis.org/methodology.

Sample, role match & sensitivity

Peer count6 organizations — below 15; treat the percentiles as indicative, not precise. Compensation range $26,904–$289,528; filing years 2023–2024.
Size basisMatched on total revenue ($1,200); for reference, expenses $519,542 and assets $10,455,929. Revenue and expenses diverge this year — revenue may misrepresent operating size; weigh the expense-based view.
Role matchTim Freundlich, reported title "DIRECTOR", benchmarked as Executive Director / CEO. Selected as the organization's highest-paid individual without an exact title match — the board should confirm this is a comparable role.
Related-org pay6 peers report related-organization compensation (column E), which the D + F benchmark does not fully capture; review where material.
Outliers1 peer fall outside 1.5× the interquartile range — consider whether any reflect one-time payments (severance, deferred-comp payouts).

Sensitivity — the subject's percentile under alternative compensation definitions:

Basis	Subject percentile
Total compensation (D + F), cost-of-living + inflation adjusted — the PeerBasis default	17^th
Total compensation (D + F), as reported (no adjustments)	17^th
Reportable pay only (column D), adjusted	0^th
All sources (D + E + F), adjusted	67^th

If the percentile moves materially across these definitions, the result is sensitive to methodology choices, and the board should weigh which basis best fits its facts.

Rebuttable presumption of reasonableness · 26 CFR 53.4958-6

Compensation paid by a tax-exempt organization is presumed reasonable — shifting the burden to the IRS — when three requirements are met. This report supplies the comparability data for the second. The board should record the following in its minutes concurrently with its decision:

Draft board minutes — executive compensation

The compensation of the Executive Director / CEO (Tim Freundlich) was approved in advance by [the Board / Compensation Committee], composed of members with no conflict of interest with respect to the arrangement.
Prior to its determination, the authorized body obtained and relied upon appropriate comparability data, namely the PeerBasis Compensation Comparability Determination dated June 9, 2026, comparing compensation against 6 similarly situated organizations (Same NTEE major group (T), nationwide + budget 0.5–2× revenue).
The authorized body determined that total compensation of $27,839 is reasonable (approximately the 17^th percentile of comparable organizations) and documented the basis for this determination concurrently, on [date], by a vote of [__ for / __ against].

Sources: IRS Form 990 e-file data (apps.irs.gov); IRS Business Master File (NTEE classification). This report is comparability data to support a board's good-faith determination under IRC 4958; it is not legal or tax advice. Generated by PeerBasis on June 9, 2026.