Karat School Project EIN 82-5036957 Form 990 (PDF) Claim this org

Karat School Project FY2022 filing

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Educates children and women in poverty to improve their lives. For fiscal year 2022 it reported $336K in revenue, $281K in expenses, and $109K in net assets.Pt I

Founded
2017
Type
Public charity (501(c)(3)) · Community Development
Location
Palo Alto, CA
Website
theksp.org
Filings
6 on file (2020–2022)
Revenue
$336KFY2022
Expenses
$281K
Net assets
$109K
People
4
Filings
6
Updates
0
More identity details & actions ⌄
EIN  82-5036957 Public charity (501(c)(3)) Palo Alto, CA Founded 2017
Form 990 (PDF)
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Size
$100K–1M
What they do
Educates children and women in poverty to improve their lives.
Leadership
Evelyn Keomian · President · $73K
Money in and out
$336K revenue, $281K expenses
Bottom line
94% program efficiency
Where the money goes · FY2022
Total revenue
$336K
Pt VIII · Ln 12
Total expenses
$281K
Pt IX · Ln 25
Net assets
$109K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $54K
Where spending went · Part IX cols B–D
Program services $0.94 Management & general $0.04 Fundraising $0.02
Program efficiency
94%
of spending reaches programs
Operating runway
5.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+16%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$336K
FY2022▲ +193%
Expenses
$281K
FY2022
Total assets
$121K
FY2022
Total liabilities
$12K
FY2022
Total revenue
$336K
Pt VIII · Ln 12
Total expenses
$281K
Pt IX · Ln 25
Net assets
$109K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$54K
Total assetsPt X · Ln 16$121K
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 44

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CKarat School Project
EINHdr · item D82-5036957
Principal addressHdr · item CPalo Alto, CA
WebsiteHdr · item Jtheksp.org
Year of formationHdr · item L2017
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S02)
Ruling yearIRS BMFFeb 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1b4
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$73,212Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Evelyn Keomian’s $88K as President is at the 64th percentile of top reported officer pay among 1711 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Evelyn Keomian$87,521$95,131$60,884$73,212$28,523

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

1 program service account for $265K of program spending, described in the organization's own filed words · FY2022.
01

Provide skills-based education to children and women living in extreme poverty to help break the cycle of poverty and inequality sustainably now and for generations to come.

$265Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants100%$336K
Investment income$29
— government grantsLn 1e$21K
Total revenueLn 12$336K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.04 Fundraising $0.02
Program services94%$265K
Management & general4%$11K
Fundraising2%$5K
Total functional expensesLn 25$281K

Balance Sheet

Part X · end of year
CashLn 1$121K
Total assetsLn 16$121K
Total liabilitiesLn 26$12K
Total net assetsLn 32$109K
Months of cash on handcomputed5.2

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $121K · Operating expenses/yr $281K
5.2 months
Where the money goes
Program services
Program services $265K · Total expenses $281K
94%
Management & General
Management & general $11K · Total expenses $281K
4%
Fundraising
Fundraising $5K · Total expenses $281K
2%
Cost to raise $1
Fundraising expense $5K · Solicited contributions $315K
$0.02 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $336K · Total revenue $336K
100%
Government reliance
Government grants $21K · Total revenue $336K
6%
Earned-income share
Program service revenue $0 · Total revenue $336K
0%
Investment reliance
Investment income $29 · Total revenue $336K
<0.01%
Program self-sufficiency
Program service revenue $0 · Total expenses $281K
0%
Growth & trend
Revenue growth (YoY)
This year $336K · Prior year $115K
+193%
Net-asset trend (YoY)
End of year $109K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $336K · Expenses $281K
+16%
Liabilities-to-Assets
Total liabilities — · Total assets $121K
Net-asset ratio
Net assets $109K · Total assets $121K
90%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $121K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Evelyn Keomian · Reported title PRESIDENT · Highest reported compensation $73K · Total expenses $281K
26%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $91K · Total expenses $281K
32%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 94%
Overhead ratio 4%
Fundraising cost ratio 1%
Revenue growth 193%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 3 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$323K revenue · ⤓ 990 PDF
FY2024$314K revenue · ⤓ 990 PDF
FY2023$143K revenue · ⤓ 990 PDF
FY2022$336K revenue · viewing · ⤓ 990 PDF
FY2021$115K revenue · ⤓ 990 PDF
FY2020$188K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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