Karuna Foundation
- Assets
- $21.9m
- Revenue
- $2.1m
- Investments
- $21.1m
- Employees
- 0
- Location
- Portland, OR
- Founding
- 05/2011
- Data as of
- 12/2021
- EIN
- 27-2831197
Organization Overview
Karuna Foundation is located in Portland, OR. The organization was established in 2011. 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. Karuna 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 12/2021, Karuna Foundation generated $2.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Karuna Foundation has awarded 37 individual grants totaling $3,908,343. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITABLE COSTS INCURRED IN THE BUILDING OF A LAW SCHOOL LIBRARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Lemelson President | 4 | $0 | |
Tom Novick Secretary | 2 | $0 | |
Jennifer Bruml Director | 1 | $0 | |
Lafcadio Cortesi Director | 1 | $0 | |
Holly Pruett Director | 1 | $0 | |
Patrick Maloney Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arctic Sun Llc | 12/30/21 | $187,521 |
Tiedemann Advisors | 12/30/21 | $104,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $225 |
| Dividends & Interest | $229,380 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,911,091 |
| Capital Gain Net Income | $1,911,091 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$4,591 |
| Total Revenue | $2,136,105 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $120,000 |
| Pension plans, employee benefits | $22,877 |
| Interest | $0 |
| Taxes | $16,803 |
| Depreciation | $5,849 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $40,627 |
| Printing and publications | $0 |
| Other expenses | $248,346 |
| Total operating and administrative expenses | $627,416 |
| Contributions, gifts, grants paid | $488,700 |
| Total expenses and disbursements | $1,116,116 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,456 |
| Savings and temporary cash investments | $821,079 |
| 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 | $12,726,944 |
| Net Land, buildings, and equipment | $4,872 |
| Other assets | $0 |
| Total assets | $21,938,862 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Karuna Foundation has awarded $488,700 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
BHUTAN FOUNDATION PURPOSE: JSW LAW LIBRARY COVID ASSISTANCE | $240,000 |
BHUTAN FOUNDATION PURPOSE: JSW LAW LIBRARY CONSTRUCTION | $100,000 |
BHUTAN FOUNDATION PURPOSE: JSW LAW LIBRARY CONSTRUCTION | $52,500 |
BHUTAN FOUNDATION PURPOSE: GENERAL OPERATING FUNDS | $35,000 |
BHUTAN FOUNDATION PURPOSE: GENERAL OPERATING FUNDS BHUTAN ECOLOGICAL SOCIETY | $31,200 |
BHUTAN FOUNDATION PURPOSE: SMALL GRANTS PROGRAM | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wilburforce Foundation Seattle, WA | $159,747,435 | $25,133,506 |
Mimi And Peter Haas Fund San Francisco, CA | $0 | $22,825,724 |
William K Bowes Jr Foundation San Francisco, CA | $0 | $15,233,813 |
Collins Foundation Portland, OR | $249,591,840 | $5,256,313 |
Walter And Elise Haas Fund San Francisco, CA | $290,773,419 | $45,613,238 |
Lisa And Douglas Goldman Fund San Francisco, CA | $314,443,125 | $25,968,602 |
Wood-Claeyssens Foundation Santa Barbara, CA | $112,450,224 | $19,490,467 |
Islands Foundation Richland, WA | $219,157,832 | $26,464,404 |
Oscar T And Olivann Hokoldfoundation Lakewood, WA | $0 | $15,898,165 |
The Saban Family Foundation Los Angeles, CA | $4,126,107 | $4,076,196 |
California Winegrowers Foundation Napa, CA | $3,681,527 | $16,676,626 |
Multi-Union Security Trust Fund Glendale, CA | $14,944,884 | $16,888,135 |