Karuna Foundation
- Assets
- $18.1m
- Revenue
- $112.7k
- Investments
- $18.0m
- Employees
- 0
- Location
- Portland, OR
- Founding
- 05/2011
- Data as of
- 12/2023
- 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 12/2023, Karuna Foundation generated $112.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (44.5%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Karuna Foundation has awarded 48 individual grants totaling $4,971,216. 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
2023
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 |
|---|---|---|---|
Lindsay Skog Executive Director | 40 | $140,000 | |
Eric Lemelson President | 4 | $0 | |
Tom Novick Secretary | 2 | $0 | |
Jennifer Bruml Director | 1 | $0 | |
Lisa Danzig Director | 1 | $0 | |
Brad Harrison Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tiedemann Advisors | 12/30/23 | $77,950 |
Arctic Sun Llc | 12/30/23 | $89,567 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $7,474 |
| Dividends & Interest | $212,315 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$183,371 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $76,294 |
| Total Revenue | $112,712 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $140,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $35,531 |
| Interest | $0 |
| Taxes | $6,898 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $135,014 |
| Printing and publications | $0 |
| Other expenses | $79,079 |
| Total operating and administrative expenses | $583,840 |
| Contributions, gifts, grants paid | $829,512 |
| Total expenses and disbursements | $1,413,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,506 |
| Savings and temporary cash investments | $103,280 |
| 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 | $10,771,041 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $18,119,973 |
| 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 $829,512 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
BHUTAN FOUNDATION PURPOSE: GENERAL OPERATING SUPPORT | $40,000 |
BHUTAN FOUNDATION PURPOSE: GENERAL OPERATING FUNDS BHUTAN ECOLOGICAL SOCIETY | $54,000 |
BHUTAN FOUNDATION PURPOSE: LEGAL EDUCATION | $328,012 |
BHUTAN FOUNDATION PURPOSE: CLIMATE CHANGE PROGRAMMING | $127,500 |
BHUTAN FOUNDATION PURPOSE: SMALL GRANTS PROGRAM | $25,000 |
INTERNATIONAL CRYOSPHERE CLIMATE INITIATIVE PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |