Karens Way
- Assets
- $1.1m
- Revenue
- $5.3k
- Investments
- $1.1m
- Employees
- 0
- Location
- Bay Village, OH
- Founding
- Data as of
- 12/2022
- EIN
- 85-3807281
Organization Overview
Karens Way is located in Bay Village, OH. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Karens Way 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 12/2022, Karens Way generated $5.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (63.6%) each year. All expenses for the organization totaled $65.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Karens Way has awarded 14 individual grants totaling $105,050. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FINANCIAL CHARITABLE ASSISTANCE FOR RELIEF OF THE DISTRESSED OR THE UNDERPRIVILEGED INCLUDING FAMILIES, INDIVIDUALS OTHER CHARITABLE 501(C)(3) PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Norton President | 0.25 | $0 | |
Mary Patricia Rhea Secretary/director | 1 | $0 | |
Charles R Norton Treasurer/director | 0.25 | $0 | |
Alan Rhea Director | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $5,310 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,310 |
| 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 | $65,000 |
| Total expenses and disbursements | $65,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,257 |
| 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 | $1,114,652 |
| 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, Karens Way has awarded $65,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WORLD CENTRAL KITCHEN PURPOSE: PROVIDE FOOD TO UKRAINE AND SURROUNDING NATIONS | $30,000 |
DOCTORS WITHOUT BORDERS PURPOSE: GETTING PATIENTS CARE THEY NEED | $30,000 |
BAY HIGH SCHOOL KEY CLUB PURPOSE: THIRST PROJECT | $5,000 |