Nonprofit · EIN 62-1808577
KARAT PLACE INC
Tax-exempt · MEMPHIS, TN 38126
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $112,874 | $125,155 | -$12,281 | $77,664 | $14,970 | $62,694 |
| December 31, 2023 | 990 | $145,983 | $145,526 | $457 | $80,240 | $5,344 | $74,896 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $102,988
- of which government grants
- $79,750
- Program service revenue
- $9,886
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $54,083
- Salaries, compensation and benefits (total)
- $58,220
- Professional fundraising fees
- $0
- Accounting fees
- $2,725
- Occupancy
- $46,331
- Depreciation
- $2,193
- Program services (functional)
- $114,533
- Management and general (functional)
- $10,622
Balance sheet and other
- Total assets, start of year
- $80,240
- Total assets, end of year
- $77,664
- Total liabilities, end of year
- $14,970
- Net assets, end of year
- $62,694
- Land, buildings and equipment
- $76,323
- Net assets without donor restrictions
- $62,694
- Gross receipts
- $112,874
- Employees
- 3
- Volunteers
- 5
- Year formed
- 1999
- State of legal domicile
- TN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kiva A Taylor | Vice Chair Trustee or director | 1 | $0 |
| Gerald L Hunt | Treasurer Trustee or director | 1 | $0 |
| Andrea T Boykins | Chair Trustee or director | 1 | $0 |
| Janet Herriman | Board Member Trustee or director | 1 | $0 |
| Chrystal B Tate | Secretary Trustee or director | 1 | $0 |
| Florida Haynes-Thomas | Board Member Trustee or director | 1 | $0 |
| Shilrey Times | Board Member Trustee or director | 1 | $0 |
| Djuana E Jones | Board Member Trustee or director | 1 | $0 |
| Beverly K Powell | Board Member Trustee or director | 1 | $0 |
| Toni Strong | Board Member Trustee or director | 1 | $0 |
| Melvena Leake Reeves | CEOExecutive Director Officer, Key employee | 40 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Florida Haynes-Thomas | Board Member Trustee or director | 1 | $0 |
| Chrystal B Tate | Secretary Trustee or director | 1 | $0 |
| Shilrey Times | Board Member Trustee or director | 1 | $0 |
| Jilian K Hunt | Vice Chair Trustee or director | 1 | $0 |
| Djuana E Jones | Board Member Trustee or director | 1 | $0 |
| Gerald L Hunt | Chair Trustee or director | 1 | $0 |
| Kiva A Taylor | Board Member Trustee or director | 1 | $0 |
| Tameaka Stanton-Riley | Board Member Trustee or director | 1 | $0 |
| Andrea T Boykins | Treasurer Trustee or director | 1 | $0 |
| Melvena Leake Reeves | CEOExecutive Director Key employee | 40 | $0 |
Address and contacts
- Address (IRS master file)
- 558 BOYD ST, MEMPHIS, TN 38126-3606
- In care of
- % MELVENA LEAKE
- Principal officer (990 for 2024)
- Melvena Leake Reeves, 4632 Honeysuckle Lane, Memphis, TN 38109
- Signed the 990
- MELVENA LEAKE EXECUTIVE, Executive Director
- Phone
- (901) 525-4055
- Website
- www.karatplace.org
- Return prepared by
- Baker Enterprise Inc
Mission
Housing for ex-offender women - To rehabilitate the women to reduce recidivism in the Greater Memphis. Through a better standard of living in transitional housing and various programming geared to empower these women to be contributing citizens.
Program accomplishments
- Transitional housing for ex-offender women and their rehabilitationExpenses $114,533 · revenue $112,874
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 62-1808577
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2000
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Crime and legal-related (I40)
- Assets (IRS master file)
- $77,664
- Income (IRS master file)
- $112,874
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $112,874 | $125,155 | $77,664 | IRS |
| 990 | December 2023 | $145,983 | $145,526 | $80,240 | XML |
| 990 | December 2022 | $155,838 | $168,626 | $85,051 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 62-1808577).
Questions about KARAT PLACE INC
- What is the EIN of KARAT PLACE INC?
- The employer identification number (EIN) of KARAT PLACE INC is 62-1808577.
- Is KARAT PLACE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
- Are donations to KARAT PLACE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does KARAT PLACE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of KARAT PLACE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did KARAT PLACE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of KARAT PLACE INC?
- The 990 for the year ended December 31, 2024 names Melvena Leake Reeves.
- Who are the officers and directors of KARAT PLACE INC?
- The 990 for the year ended December 31, 2024 lists 11 people; 0 received compensation from the organization.
- How much revenue does KARAT PLACE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $112,874, expenses of $125,155 and total assets of $77,664 at year end.
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All nonprofits in MEMPHIS · Tennessee · Crime and legal-related