Kula for Karma

Analysis

Kula for Karma is a registered charity in United States, based in Nyack, NY. It received its IRS tax-exemption ruling in September 2008, 18 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Kula for Karma reported income of $300k and spending of $430k, spending 143% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $543k to $300k (-45%), an average of -14% a year. The sharpest change came in the year to June 2021, when income dropped by 35%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Kula for Karma sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Humane Equine Aid & Rapid Transport Inc ($300k), America Vietnam-Chinese Friendship Association ($300k) and Old Harbor Alliance ($300k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $120k (28% of expenses). Other salaries and wages came to $87k. At year end it held assets of $203k against liabilities of $16k, net assets of $187k. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.