Karin Foundation: FY2022 Nonprofit Profile & Form 990 (EIN 26-4466118)

Revenue by fiscal year
FY2020	$150K
FY2021	$633K
FY2022	$243K
FY2023	$87K
FY2024	$111K

Expenses by fiscal year
FY2020	$151K
FY2021	$594K
FY2022	$252K
FY2023	$91K
FY2024	$107K

Net assets by fiscal year
FY2020	−$56K
FY2021	−$18K
FY2022	−$27K
FY2023	−$31K
FY2024	−$27K

Is it real?

Yes. Exemption reinstated (2012-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Oct 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

96%

Program services 96% · $242K Management & general 4% · $10K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation

Abdirashid S Ali

Director

$0Pt VII · Sec A

Abdi H Farah

Officer

$0Pt VII · Sec A

See Karin Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds a school in Somalia by raising funds.

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Provided by the organization

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1 program · $242K · in their own filed words · FY2022

01

The funds were used to construct and maintaining a junior/senior high school located in Somalia.

$242Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2023

Amazonsmile FoundationFY2023$30

Total grants receivedfrom 1 funder$30

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$243K

Ln 12

Gifts and grantsLn 1h$243K

Money outPt IX

$252K

Ln 25

Programscol B$242K

Managementcol C$10K

Owns and owesPt X

−$27K

net assets · Ln 32

Cash and savingsLn 1–2$11K

Total assetsLn 16$11K

LiabilitiesLn 26$39K

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$243K

Government grantsLn 1e$48K

Total revenueLn 12$243K

Assets in detailPt X, end of year

CashLn 1$11K

Cash and savings togetherLn 1–2$11K

Total assetsLn 16$11K

LiabilitiesLn 26$39K

Net assetsLn 32−$27K

OperationsPt I, VI

EmployeesI 50

VolunteersI 62

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$38K	$11K
Total assetsLn 16	$38K	$11K
LiabilitiesLn 26	$56K	$39K
Net assetsLn 32	−$18K	−$27K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants and assistance to foreign recipientsLn 3	$242K	$242K
Office expensesLn 13	$1K		$1K
TravelLn 17	$7K		$7K
Other expenses (24a–d)Ln 24	$2K		$2K
Total functional expensesLn 25	$252K	$242K	$10K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$111K	$107K	$4K	−$27K	990 PDF
FY2023	$87K	$91K	−$4K	−$31K	990 PDF
FY2022 Viewing	$243K	$252K	−$9K	−$27K	990 PDF
FY2021	$633K	$594K	$38K	−$18K	990 PDF
FY2020	$150K	$151K	−$860	−$56K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign O · Explanations

See the full FY2022 990 (6 parts)

Part I · Summary $242,771 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $632,530$242,771

I-9 Program service revenue$0

I-10 Investment income$0

I-11 Other revenue$0

I-12 Total revenuePrior year $632,530$242,771

I-13 Grants and similar amounts paidPrior year $556,512$242,054

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $37,678$10,148

I-18 Total expensesPrior year $594,190$252,202

I-19 Revenue less expensesPrior year $38,340−$9,431

Part VI · Governance 2 of 2 board members independent, 3 to look at

VI-1a Voting members of the governing body2

VI-1b Independent voting members2

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

Part VIII · Statement of revenue $242,771 across 4 lines filed

VIII-1e Government grants$48,500

VIII-1f All other contributions, gifts and grants$194,271

VIII-1h Total contributions, gifts and grants$242,771

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$242,771

Part IX · Statement of functional expenses $252,202 across 4 lines filed

IX-3 Grants and assistance to foreign recipientsPrograms $242,054$242,054

IX-13 Office expensesManagement $1,127$1,127

IX-17 TravelManagement $7,070$7,070

IX-24 Other expenses (24a–d)Management $1,951$1,951

IX-25 Total functional expensesPrograms $242,054 · Management $10,148 · Fundraising $0$252,202

Part X · Balance sheet $11,427 assets, 7 lines filed

X-1 Cash, non-interest-bearingStart of year $37,917$11,427

X-16 Total assetsStart of year $37,917$11,427

X-24 Unsecured notes and loans payableStart of year $39,728$38,528

X-26 Total liabilitiesStart of year $55,585$38,528

X-27 Net assets without donor restrictionsStart of year −$17,668−$27,101

X-32 Total net assets or fund balancesStart of year −$17,668−$27,101

X-33 Total liabilities and net assetsStart of year $37,917$11,427

Part XI · Reconciliation of net assets −$27,101 net assets at year end

XI-1 Total revenue$242,771

XI-2 Total expenses$252,202

XI-3 Revenue less expenses−$9,431

XI-4 Net assets at start of year−$17,668

XI-9 Other changes in net assets−$2

XI-10 Net assets at end of year−$27,101

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Karin Foundation FY2022 filing

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