Nonprofit · EIN 75-2692023
KARAKIN FOUNDATION
Tax-exempt · ABILENE, TX 79601
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $28,798,340 | $20,245,695 | $8,552,645 | $193,655,902 | $302,527 | $193,353,375 |
| December 31, 2023 | 990-PF | $58,001,484 | $18,174,121 | $39,827,363 | $185,140,803 | $385,908 | $184,754,895 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $4,333,504
- Net gain from sales of assets
- $11,147,073
- Other income
- $13,206,872
Expenses
- Grants and similar amounts paid
- $16,362,428
- Compensation of officers, directors and key employees
- $453,395
- Salaries, compensation and benefits (total)
- $428,462
- Disbursements for charitable purposes
- $16,906,784
- Excise tax on investment income
- $366,048
Balance sheet and other
- Total assets, start of year
- $185,140,803
- Total assets, end of year
- $193,655,902
- Total liabilities, end of year
- $302,527
- Net assets, end of year
- $193,353,375
- Fair market value of assets
- $365,368,339
- Qualifying distributions
- $16,906,784
- Net investment income
- $28,799,865
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-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SARAH J COMERFORD PO BOX 232, CAPTAIN COOK, HI 96704 | GRANTS ADMINISTRATOR Highest-paid employee | 40 | $144,951 | $58,637 |
| KADE L MATTHEWS PO BOX 1170, CLARENDON, TX 79226 | CHAIRMAN/PRESIDENT | 4 | $113,750 | $24,160 |
| JEFF BLANKS PO BOX 176, ABILENE, TX 79604 | SENIOR VICE PRESIDENT/OPERATIONS OFFIC | 13.33 | $107,085 | $25,043 |
| WATT MATTHEWS PO BOX 176, ABILENE, TX 79604 | ADVISOR Highest-paid employee | 8 | $105,733 | $21,840 |
| JOSEPH E CANON PO BOX 176, ABILENE, TX 79604 | EXECUTIVE VICE PRESIDENT / EXECUTIVE D | 11.67 | $104,076 | $24,146 |
| JOHN A MATTHEWS JR PO BOX 61850, SAN ANGELO, TX 76906 | VICE PRESIDENT | 3 | $65,000 | $13,100 |
| AARON MILLER PO BOX 176, ABILENE, TX 79604 | VICE PRESIDENT/TREASURER/CFO | 4 | $63,484 | $10,910 |
| WATT R MATTHEWS PO BOX 176, ABILENE, TX 79604 | EXECUTIVE VICE PRESIDENT / CIO | 0 | $0 | $0 |
| ELYSE LEWIS PO BOX 176, ABILENE, TX 79604 | SECRETARY / SENIOR GRANTS OFFICER | 0 | $0 | $0 |
| BRENDA CASSELBERRY PO BOX 176, ABILENE, TX 79604 | PROPERTY / ADMINISTRATOR | 0 | $0 | $0 |
| MARGARET MATTHEWS FREDERICK PO BOX 176, ABILENE, TX 79604 | ASSISTANT VICE PRESIDENT / GRANTS | 0 | $0 | $0 |
| SARAH COMERFORD PO BOX 176, ABILENE, TX 79604 | GRANTS OFFICER | 0 | $0 | $0 |
990-PF for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SARAH J COMERFORD PO BOX 232, CAPTAIN COOK, HI 96704 | GRANTS ADMINISTRATOR Highest-paid employee | 40 | $144,951 | $58,637 |
| KADE L MATTHEWS PO BOX 1170, CLARENDON, TX 79226 | CHAIRMAN/PRESIDENT | 10 | $87,244 | $19,333 |
| JOSEPH E CANON PO BOX 61850, SAN ANGELO, TX 76906 | EXECUTIVE VICE PRESIDENT / EXECUTIVE D | 14 | $87,096 | $19,640 |
| JEFF BLANKS PO BOX 176, ABILENE, TX 79604 | SENIOR VICE PRESIDENT/OPERATIONS OFFIC | 6 | $80,812 | $19,641 |
| WATT MATTHEWS PO BOX 176, ABILENE, TX 79604 | ADVISOR Highest-paid employee | 8 | $78,867 | $17,133 |
| JOHN A MATTHEWS JR PO BOX 176, ABILENE, TX 79604 | VICE PRESIDENT | 26 | $47,306 | $10,417 |
| AARON MILLER PO BOX 176, ABILENE, TX 79604 | VICE PRESIDENT/TREASURER/CFO | 4 | $31,404 | $1,206 |
Address and contacts
- Address (IRS master file)
- 400 PINE ST STE 900, ABILENE, TX 79601-5141
- In care of
- % ATKINSON & CO LTD
- Signed the 990-PF
- AARON MILLER, VICE PRESIDENT/CFO
- Phone
- (325) 673-6429
- Return prepared by
- CONDLEY AND COMPANY LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. 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-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 75-2692023
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1997
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T22Z)
- Assets (IRS master file)
- $193,655,902
- Income (IRS master file)
- $143,028,103
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $28,798,340 | $20,245,695 | $193,655,902 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $58,001,484 | $18,174,121 | $185,140,803 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | 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 75-2692023).
Questions about KARAKIN FOUNDATION
- What is the EIN of KARAKIN FOUNDATION?
- The employer identification number (EIN) of KARAKIN FOUNDATION is 75-2692023.
- Is KARAKIN FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
- Are donations to KARAKIN FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does KARAKIN FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of KARAKIN FOUNDATION 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 KARAKIN FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of KARAKIN FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 12 people; 7 received compensation from the organization, the highest $144,951 (SARAH J COMERFORD, GRANTS ADMINISTRATOR).
- How much revenue does KARAKIN FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $28,798,340, expenses of $20,245,695 and total assets of $193,655,902 at year end.
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All nonprofits in ABILENE · Texas · Philanthropy, voluntarism and grantmaking foundations