Karsan Family Foundation
- Assets
- $200.3k
- Revenue
- $396.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 05/2014
- Data as of
- 12/2021
- EIN
- 46-2163447
Organization Overview
Karsan Family Foundation is located in Philadelphia, PA. The organization was established in 2014. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Karsan 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 12/2021, Karsan Family Foundation generated $396.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 40.0% each year . All expenses for the organization totaled $2.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Karsan Family Foundation has awarded 17 individual grants totaling $2,879,899. 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
TO PROVIDE FUNDING FOR THE FOUNDATION'S VARIOUS CHARITABLE ENDEAVORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David S Kovsky Director | 1 | $0 | |
Nooruddin S Karsan President | 1 | $0 | |
Nyla Koncurat Treasurer | 1 | $0 | |
Shirin Karsan Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $262,105 |
| Interest on Savings | $94 |
| Dividends & Interest | $9,104 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $125,540 |
| Capital Gain Net Income | $125,540 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $396,843 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $2,289,580 |
| Total expenses and disbursements | $2,289,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200,278 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $200,278 |
| 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, Karsan Family Foundation has awarded $2,289,580 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
THE PHILADELPHIA FOUNDATION PURPOSE: GENERAL PURPOSE | $1,000 |
AGA KAHN FOUNDATION USA PURPOSE: GENERAL PURPOSE | $2,260,580 |
THE WELCOMING CENTER PURPOSE: GENERAL PURPOSE | $25,000 |
GLOBAL BIOETHICS INITIATIVE INC PURPOSE: GENERAL PURPOSE | $3,000 |