Karat Place Inc
- Assets
- $80.2k
- Revenue
- $146.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Memphis, TN
- Founding
- 05/2000
- Data as of
- 12/2023
- EIN
- 62-1808577
Organization Overview
Karat Place Inc is located in Memphis, TN. The organization was established in 2000. According to its NTEE Classification (I40) the organization is classified as: Rehabilitation Services for Offenders, under the broad grouping of Crime & Legal-Related and related organizations. As of 12/2023, Karat Place Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Karat Place 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 12/2023, Karat Place Inc generated $146.0k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $145.5k during the year ending 12/2023. While expenses have increased by 1.7% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING FOR EX-OFFENDER WOMEN - TO REHABILITATE THE WOMEN TO REDUCE RECIDIVISM IN THE GREATER MEMPHIS. THROUGH A BETTER STANDARD OF LIVING IN TRANSITIONAL HOUSING AND VARIOUS PROGRAMMING GEARED TO EMPOWER THESE WOMEN TO BE CONTRIBUTING CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRANSITIONAL HOUSING FOR EX-OFFENDER WOMEN AND THEIR REHABILITATION
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Florida Haynes-Thomas Board Member | Trustee | 1 | $0 |
Chrystal B Tate Secretary | Trustee | 1 | $0 |
Shilrey Times Board Member | Trustee | 1 | $0 |
Jilian K Hunt Vice Chair | Trustee | 1 | $0 |
Djuana E Jones Board Member | Trustee | 1 | $0 |
Gerald L Hunt Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $73 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $98,315 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,625 |
| Noncash contributions included in lines 1a–1f | $10,114 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $127,013 |
| Total Program Service Revenue | $18,970 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $145,983 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $68,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,202 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,097 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9,988 |
| Information technology | $1,720 |
| Royalties | $0 |
| Occupancy | $45,587 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,192 |
| Insurance | $8,000 |
| All other expenses | $1,740 |
| Total functional expenses | $145,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,724 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $78,516 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $80,240 |
| Accounts payable and accrued expenses | $5,344 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $5,344 |
| Net assets without donor restrictions | $74,896 |
| Net assets with donor restrictions | $0 |
| 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 | $80,240 |