Friends Of Karen Inc
- Assets
- $5.7m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 31
- Location
- North Salem, NY
- Founding
- 09/1983
- Data as of
- 03/2024
- EIN
- 14-1612290
Organization Overview
Friends Of Karen Inc is located in North Salem, NY. The organization was established in 1983. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. As of 03/2024, Friends Of Karen Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Karen Inc 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 03/2024, Friends Of Karen Inc generated $3.7m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $4.5m during the year ending 03/2024. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES EMOTIONAL , FINANCIAL AND ADVOCACY SUPPORT FOR CHILDREN WITH LIFE-THREATENING ILLNESSES AND THEIR FAMILIES, IN ORDER TO HELP KEEP THEM STABLE, FUNCTION AND ABLE TO COPE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023 FRIENDS OF KAREN PROVIDED PSYCHOSOCIAL,FINANCIAL AND ADVOCACY SUPPORT FOR 1,257 CHILDREN WITH CANCER AND OTHER LIFE-THREATENING ILLNESSES,THEIR SIBLINGS, PARENTS AND OTHER FAMILY MEMBERS. CHILDREN AND THEIR FAMILIES WERE REFERRED TO FRIENDS OF KAREN FROM 17 MAJOR HOSPITALS IN NEW YORK, NEW JERSEY AND CONNECTICUT WHERE CHILDREN ARE TREATED IN THE PEDIATRIC ONCOLOGY OR TRANSPLANT UNIT. FRIENDS OF KAREN EMBRACES THE NEEDS OF THE WHOLE FAMILY WHICH IS AFFECTED DEEPLY BY THE CONSEQUENCES OF THE CHILD'S ILLNESS. ITS COMPREHENSIVE SERVICES, INCLUDING SPECIAL ASSISTANCE FOR SIBLINGS (ONE-ON-ONE AND GROUP ZOOM SESSIONS FOR ABOUT 250 CHILDREN IN 2023), ARE PROVIDED AT NO COST TO FAMILIES. ALL SERVICES ARE DELIVERED BY A TEAM OF LICENSED, SKILLED PROFESSIONAL SOCIAL WORKERS, (CONTINUED ON SCHEDULE O)CHILD LIFE SPECIALISTS AND CREATIVE ARTS THERAPISTS. FRIENDS OF KAREN IS A PROGRAM THAT EXEMPLIFIES THE CURRENT STANDARDS OF PSYCHOSOCIAL CARE FOR CHILDREN WITH LIFE-THREATENING ILLNESSES AND THEIR FAMILIES. IN ADDITION TO COVERING ILLNESS-RELATED AND BASIC LIVING EXPENSES FOR A FAMILY WHEN THERE IS A LOSS OF INCOME AS A RESULT OF THE CHILD'S ILLNESS, FRIENDS OF KAREN'S GIFT PROGRAMS OFFERED BIRTHDAY AND HOLIDAY GIFTS TO ILL CHILDREN AND THEIR SIBLINGS, AS WELL AS SCHOOL SUPPLIES. IN 2023 FRIENDS OF KAREN FULFILLED THE HOLIDAY WISHES OF 846 CHILDREN, AND DISTRIBUTED BACK-TO-SCHOOL BACKPACKS AND SCHOOL SUPPLIES TO 728 CHILDREN, AS WELL AS BIRTHDAY GIFTS TO 695 CHILDREN. THE ORGANIZATION PROVIDED FUNDS FOR THANKSGIVING AND HOLIDAY MEALS, AND SUPERMARKET GIFT CARDS AND EMERGENCY FUNDS FOR FOOD YEAR-ROUND TO THE NEEDIEST FAMILIES. THROUGH A SPECIAL FUND, FRIENDS OF KAREN WAS ALSO ABLE TO PROVIDE GIFT CARDS TO PURCHASE CLOTHING AND SHOES FOR ILL CHILDREN, THEIR SIBLINGS AND SOMETIMES THE PARENTS WHOSE RESOURCES ARE STRETCHED TO THE LIMIT DUE TO LOSS OF JOBS OR EMPLOYMENT INTERRUPTIONS AS A RESULT OF THEIR CHILD'S ILLNESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Sgaglio President | OfficerTrustee | 2 | $0 |
Laura Salerno-Evans Vice President | OfficerTrustee | 2 | $0 |
Pamela Hervey Secretary | OfficerTrustee | 2 | $0 |
Thomas Jocelyn Treasurer | OfficerTrustee | 2 | $0 |
Arlene Del Mundo Board Member | Trustee | 1 | $0 |
Evan Schreiber Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,362,141 |
| Related organizations | $0 |
| Government grants | $27,257 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,317,632 |
| Noncash contributions included in lines 1a–1f | $331,961 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,707,030 |
| Total Program Service Revenue | $0 |
| Investment income | $127,017 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $74,457 |
| Net Income from Fundraising Events | -$192,530 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,733,443 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,537,357 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $331,971 |
| Compensation of current officers, directors, key employees. | $49,873 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,815,272 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $155,681 |
| Payroll taxes | $181,036 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,916 |
| Fees for services: Other | $110,994 |
| Advertising and promotion | $0 |
| Office expenses | $217,599 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,900 |
| Travel | $9,116 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $925 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,825 |
| Insurance | $52,104 |
| All other expenses | $0 |
| Total functional expenses | $4,533,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $224,131 |
| Savings and temporary cash investments | $48,138 |
| Pledges and grants receivable | $106,919 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,382 |
| Net Land, buildings, and equipment | $201,478 |
| Investments—publicly traded securities | $5,091,912 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,218 |
| Total assets | $5,691,178 |
| Accounts payable and accrued expenses | $131,240 |
| Grants payable | $0 |
| Deferred revenue | $1,870 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,064 |
| Total liabilities | $144,174 |
| Net assets without donor restrictions | $5,159,915 |
| Net assets with donor restrictions | $387,089 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,691,178 |