Karamu House

Analysis

Karamu House is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Karamu House reported income of $3.2m and spending of $2.9m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $6.4m to $3.2m (-50%), an average of -16% a year. The sharpest change came in the year to June 2020, when income dropped by 64%. Over the whole period it spent 62% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Karamu House sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within OH. Charities of a similar size with the same main cause include Aba Pathways Inc ($3.2m), Collier County Agricultural Fair and Exposition Inc ($3.2m) and Headlands Center for the Arts ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 9.8% of the total. Compensation of current officers, directors and key employees was $369k (13% of expenses). Other salaries and wages came to $608k. At year end it held assets of $10.0m against liabilities of $514k, net assets of $9.5m. It reported 30 employees.