Karma Foundation
- Assets
- $5.3m
- Revenue
- $279.7k
- Investments
- $5.2m
- Employees
- 0
- Location
- Princeton, NJ
- Founding
- 04/1997
- Data as of
- 12/2022
- EIN
- 22-3478433
Organization Overview
Karma Foundation is located in Princeton, NJ. The organization was established in 1997. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Karma 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 12/2022, Karma Foundation generated $279.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.5%) each year. All expenses for the organization totaled $396.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (13.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Karma Foundation has awarded 15 individual grants totaling $201,795. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Karmazin President | 1 | $0 | |
Dina K Elkins Executive Director | 35 | $119,990 | |
Craig Karmazin Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $14,309 |
| Dividends & Interest | $95,931 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $168,089 |
| Capital Gain Net Income | $209,955 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,359 |
| Total Revenue | $279,688 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $119,990 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,177 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $48,549 |
| Total operating and administrative expenses | $195,060 |
| Contributions, gifts, grants paid | $201,795 |
| Total expenses and disbursements | $396,855 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,117 |
| Savings and temporary cash investments | $108,567 |
| 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 | $491,686 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3 |
| Total assets | $5,278,622 |
| Accounts payable and accrued expenses | $1,119 |
| 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 | $1,119 |
Grants Awarded
Over the last fiscal year, Karma Foundation has awarded $201,795 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
ATLANTIC THEATRE COMPANY PURPOSE: GENERAL SUPPORT | $3,000 |
AMERICAN CANCER SOCIETY PURPOSE: GENERAL SUPPORT | $5,000 |
BILDNER CENTER - RUTGERS UNIVERSITY PURPOSE: GENERAL SUPPORT | $30,000 |
CHILDREN'S RADIOTHON PURPOSE: GENERAL SUPPORT | $32,000 |
CONGREGATION SINAI PURPOSE: GENERAL SUPPORT | $10,000 |
GEORGE STREET PLAYHOUSE PURPOSE: GENERAL SUPPORT | $70,000 |