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Karousel Kids INC FY2023 filing

Tax-deductible

Claremont, CA501(c)(3)Arts & Culture EIN 95-3772761Revenue $176K in FY2023

On file with the IRS1096 Loop Br, 91711-8310 · Claremont, CATax-exempt since Oct 1982Publicly supported — 509(a)(2)

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To encourage each and every Karousel kid to increase their skills, to expand their knowledge, and grow as individuals as they reach for their fullest potential, by instilling highest professional standards in discipline, taking responsibility, and attitude in each young performer.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $173 a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $450
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$66K
664% of total assets
Concern: liabilities are 664% of assets; over 80%.
Pt X · Ln 26
Independent board members
21
of 32 voting members
Looks good: 21 of 32 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$176K
+102% vs prior year
Spent
$175K
To programs
93%
Net assets
−$56K
By yearFY2020–FY2024
Revenue
$176K
FY2023▲ +102%
Tap a bar for its year
Revenue by fiscal year
FY2020$56K
FY2021$100K
FY2022$87K
FY2023$176K
FY2024$169K
Expenses
$175K
FY2023▲ +72%
Tap a bar for its year
Expenses by fiscal year
FY2020$78K
FY2021$83K
FY2022$102K
FY2023$175K
FY2024$151K
Net assets
−$56K
FY2023▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020−$60K
FY2021−$43K
FY2022−$57K
FY2023−$56K
FY2024−$38K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1982.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $163K Management & general 7% · $12K

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

21 people listed on the 990.

Part VII, Section A · reportable compensation
Alisa Allen
Executive Di
$0Pt VII · Sec A
$0Pt VII · Sec A
Annette Brown
Board Member
$0Pt VII · Sec A
Barbara Mollure
Lifetime Mem
$0Pt VII · Sec A
Damon Sally Lopez
Board Member
$0Pt VII · Sec A
Darcy Weis
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Diana Burkett
Board Member
$0Pt VII · Sec A
See Karousel Kids INC 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Develops young performers' skills, knowledge, and potential through discipline and responsibility.

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Provided by the organization

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1 program · $163K · in their own filed words · FY2023
01

Provide opportunities for young people to experience musical theater.

$163Kprogram 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 · FY2020
Elyachar Welfare CorporationFY2020$450
Total grants receivedfrom 1 funder$450

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$176K
Ln 12
Gifts and grantsLn 1h$175K
Other incomeLn 4–11$1K
Money outPt IX
$175K
Ln 25
Programscol B$163K
Managementcol C$12K
Owns and owesPt X
−$56K
net assets · Ln 32
Cash and savingsLn 1–2$6K
Total assetsLn 16$10K
LiabilitiesLn 26$66K
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a32
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$175K
Government grantsLn 1e$175K
Other incomeLn 4–11$1K
Total revenueLn 12$176K
Assets in detailPt X, end of year
CashLn 1$6K
Cash and savings togetherLn 1–2$6K
Other assetsLn 15$4K
Total assetsLn 16$10K
LiabilitiesLn 26$66K
Net assetsLn 32−$56K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$5K$6K
Total assetsLn 16$9K$10K
LiabilitiesLn 26$66K$66K
Net assetsLn 32−$57K−$56K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Office expensesLn 13$2K$2K
OccupancyLn 16$143K$143K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$20K$8K$12K
Total functional expensesLn 25$175K$163K$12K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $169K$151K$18K−$38K 990 PDF
FY2023 Viewing $176K$175K$1K−$56K 990 PDF
FY2022 $87K$102K−$14K−$57K 990 PDF
FY2021 $100K$83K$17K−$43K 990 PDF
FY2020 $56K$78K−$23K−$60K 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 O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $176,000 revenue, 12 lines filed
I-8 Contributions and grants$175,000
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$1,000
I-12 Total revenue$176,000
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$174,770
I-18 Total expenses$174,770
I-19 Revenue less expenses$1,230
Part VI · Governance 21 of 32 board members independent, 5 to look at
VI-1a Voting members of the governing body32
VI-1b Independent voting members21
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $176,000 across 4 lines filed
VIII-1e Government grants$175,000
VIII-1h Total contributions, gifts and grants$175,000
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,000$1,000
VIII-12 Total revenueRelated to mission $1,000$176,000
Part IX · Statement of functional expenses $174,770 across 4 lines filed
IX-13 Office expensesPrograms $2,289$2,289
IX-16 OccupancyPrograms $143,344$143,344
IX-23 InsurancePrograms $9,406$9,406
IX-24 Other expenses (24a–d)Programs $7,700 · Management $12,031$19,731
IX-25 Total functional expensesPrograms $162,739 · Management $12,031 · Fundraising $0$174,770
Part X · Balance sheet $9,872 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $4,641$5,872
X-15 Other assetsStart of year $4,000$4,000
X-16 Total assetsStart of year $8,641$9,872
X-17 Accounts payable and accrued expensesStart of year $65,514$65,515
X-26 Total liabilitiesStart of year $65,514$65,515
X-27 Net assets without donor restrictionsStart of year −$56,873−$55,643
X-32 Total net assets or fund balancesStart of year −$56,873−$55,643
X-33 Total liabilities and net assetsStart of year $8,641$9,872
Part XI · Reconciliation of net assets −$55,643 net assets at year end
XI-1 Total revenue$176,000
XI-2 Total expenses$174,770
XI-3 Revenue less expenses$1,230
XI-4 Net assets at start of year−$56,873
XI-10 Net assets at end of year−$55,643

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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