Karam Foundation NFP

Analysis

Karam Foundation NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in December 2008, 18 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 December 2023, Karam Foundation NFP reported income of $4.6m and spending of $3.7m, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.2m to $4.6m (-12%), an average of -3.3% a year. The sharpest change came in the year to December 2023, when income rose by 89%. Over the whole period it spent 86% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Karam Foundation NFP sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within IL. Charities of a similar size with the same main cause include Finger Lakes Area Community Endowment ($4.6m), North Brunswick U a W Housing Corp ($4.6m) and Individual and Family Support Network ($4.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $214k (5.7% of expenses). Other salaries and wages came to $875k. At year end it held assets of $4.9m against liabilities of $208k, net assets of $4.7m. It reported 10 employees.