Karat School Project

Analysis

Karat School Project is a registered charity in United States, based in Palo Alto, CA. It received its IRS tax-exemption ruling in February 2019, 7 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Karat School Project reported income of $143k and spending of $212k, spending 149% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $336k to $143k (-58%), an average of -58% a year. The sharpest change came in the year to December 2023, when income dropped by 58%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Karat School Project sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 48th percentile within CA. Charities of a similar size with the same main cause include Heavens Gateway Ministries Inc ($143k), The Volunteer Firemens Relief Assn of East Pennsboro Township ($143k) and Moab Solutions Inc ($143k).

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 $61k (29% of expenses). Other salaries and wages came to $12k. At year end it held assets of $52k against liabilities of $13k, net assets of $39k. It reported 5 employees.