Kara Family Foundation
- Assets
- $1.5m
- Revenue
- $465.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Wayne, IN
- Founding
- Data as of
- 12/2022
- EIN
- 84-3991257
Organization Overview
Kara Family Foundation is located in Fort Wayne, IN. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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 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 12/2022, Kara Family Foundation generated $465.0k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 46.7% each year . All expenses for the organization totaled $263.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Firas Kara Trustee | 2 | $0 | |
Alia Natafgi Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $250,000 |
| Interest on Savings | $5,832 |
| Dividends & Interest | $0 |
| Net Rental Income | -$39,303 |
| 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 | $465,018 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $34,109 |
| Taxes | $125,033 |
| Depreciation | $84,749 |
| Occupancy | $1,598 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $248,489 |
| Contributions, gifts, grants paid | $14,498 |
| Total expenses and disbursements | $262,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $341,400 |
| 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 | $854,247 |
| Other assets | $303,852 |
| Total assets | $1,499,499 |
| 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 | $985,621 |
| Other liabilities | $0 |
| Total liabilities | $985,621 |
Grants Awarded
Over the last fiscal year, Kara Family Foundation has awarded $12,428 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SMILE YOUNITED PURPOSE: ASSIST REFUGEES IN TURKEY | $10,383 |
LIGHTHOUSE PEACE INITIATIVE PURPOSE: AID TO SYRIAN REFUGEES | $2,045 |