Kara Foundation
- Assets
- $12.4m
- Revenue
- $138.6k
- Investments
- $12.4m
- Employees
- 0
- Location
- Libertyville, IL
- Founding
- 03/1992
- Data as of
- 12/2023
- EIN
- 36-3779796
Organization Overview
Kara Foundation is located in Libertyville, IL. The organization was established in 1992. 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. Kara 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, Kara Foundation generated $138.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (27.3%) each year. All expenses for the organization totaled $605.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Kara Foundation has awarded 123 individual grants totaling $1,399,100. 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
GRANTS TO OTHER CHARITABLE ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick S Demoon III Co- President/treasurer | 25 | $48,634 | |
Paul Demoon Vice-President | 25 | $60,000 | |
Anthony Demoon Co-President/ Secretary | 25 | $46,843 | |
Judith A Demoon Board Member | 1 | $0 | |
Patrick Demoon Sr Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $163,377 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$24,738 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $138,639 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $155,477 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $49,011 |
| Interest | $0 |
| Taxes | $13,779 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,247 |
| Total operating and administrative expenses | $225,634 |
| Contributions, gifts, grants paid | $379,400 |
| Total expenses and disbursements | $605,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,812 |
| Savings and temporary cash investments | $0 |
| 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 | $12,393,239 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $12,438,051 |
| 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, Kara Foundation has awarded $379,400 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
DONKA INC PURPOSE: OPERATIONAL SUPPORT | $25,000 |
GIVENKIND PURPOSE: OPERATIONAL SUPPORT | $20,000 |
LAKE GENEVA FOOD PANTRY PURPOSE: OPERATIONAL SUPPORT | $5,000 |
LIBERTYVILLE TOWNSHIP FOOD PANTRY PURPOSE: OPERATIONAL SUPPORT | $5,000 |
LAKELAND SCHOOL OF WALWORTH COUNTY PURPOSE: OPERATIONAL SUPPORT | $4,900 |
LIFELINE PILOTS PURPOSE: OPERATIONAL SUPPORT | $24,000 |