Karp Family Foundation
- Assets
- $604.9k
- Revenue
- $1.6m
- Investments
- $482.5k
- Employees
- 0
- Location
- Boston, MA
- Founding
- 05/1995
- Data as of
- 02/2022
- EIN
- 04-3226725
Organization Overview
Karp Family Foundation is located in Boston, MA. The organization was established in 1995. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Karp Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 02/2022, Karp Family Foundation generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (14.3%) each year. All expenses for the organization totaled $1.6m during the year ending 02/2022. As we would expect to see with falling revenues, expenses have declined by (10.8%) per year over the past 2 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Karp Family Foundation has awarded 44 individual grants totaling $3,468,776. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jill E Karp Trustee | 0.2 | $0 | |
Stephen R Karp Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $591,961 |
| Interest on Savings | $700 |
| Dividends & Interest | $7 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $997,607 |
| Capital Gain Net Income | $997,607 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $13,985 |
| Total Revenue | $1,604,260 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $2,306 |
| Taxes | $27,379 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $61,549 |
| Total operating and administrative expenses | $91,234 |
| Contributions, gifts, grants paid | $1,499,500 |
| Total expenses and disbursements | $1,590,734 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $122,360 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $482,510 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $604,870 |
| Accounts payable and accrued expenses | $17,685 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $17,685 |
Grants Awarded
Over the last fiscal year, Karp Family Foundation has awarded $1,499,500 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
BOSTON YOUTH SANCTUARY PURPOSE: CHARITABLE CONTRIBUTION | $725,000 |
Brookline, MA PURPOSE: CHARITABLE CONTRIBUTION | $500,000 |
THE JOEY FUND PURPOSE: CHARITABLE CONTRIBUTION | $50,000 |
UNION COLLEGE PURPOSE: CHARITABLE CONTRIBUTION | $50,000 |
Nantucket, MA PURPOSE: CHARITABLE CONTRIBUTION | $35,000 |
BOSTON MEDICAL CENTER PURPOSE: CHARITABLE CONTRIBUTION | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Eastern Bank Charitable Foundation Lynn, MA | $286,575,476 | $18,352,628 |
G Harold And Leila Mathers Charitable Foundation Rye Brook, NY | $96,045,942 | $16,941,265 |
Elms Foundation Providence, RI | $0 | -$22,907 |
Thomas L Kempner Jr Foundation Inc Southampton, NY | $328,355,645 | $44,754,721 |