Nonprofit · EIN 85-3807281
KARENS WAY
Tax-exempt · BAY VILLAGE, OH 44140
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $6,603 | $15,287 | -$8,684 | $710,325 | $0 | $710,325 |
| December 31, 2023 | 990-PF | $5,562 | $271,313 | -$265,751 | $719,009 | $0 | $719,009 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,100
- Dividends
- $5,503
Expenses
- Grants and similar amounts paid
- $12,397
- Disbursements for charitable purposes
- $15,087
- Excise tax on investment income
- $74
Balance sheet and other
- Total assets, start of year
- $719,009
- Total assets, end of year
- $710,325
- Total liabilities, end of year
- $0
- Net assets, end of year
- $710,325
- Fair market value of assets
- $905,325
- Qualifying distributions
- $15,087
- Net investment income
- $5,503
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 |
|---|---|---|---|
| Jack N Rhea 317 Saddler Rd, Bay Village, OH 44140 | Secretary | 0.25 | $0 |
| Mary Patricia Rhea 317 Saddler Rd, Bay Village, OH 44140 | President | 1 | $0 |
| Charles N Norton 317 Saddler Rd, Bay Village, OH 44140 | Treasurer/director | 0.25 | $0 |
| Brooke N Rhea 317 Saddler Rd, Bay Village, OH 44140 | Secretary | 0.25 | $0 |
| Erica Omojuannfo 317 Saddler Rd, Bay Village, OH 44140 | Member | 0.25 | $0 |
990-PF for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jack N Rhea 317 Saddler Rd, Bay Village, OH 44140 | Secretary | 0.25 | $0 |
| Mary Patricia Rhea 317 Saddler Rd, Bay Village, OH 44140 | President | 1 | $0 |
| Charles N Norton 317 Saddler Rd, Bay Village, OH 44140 | Treasurer/director | 0.25 | $0 |
| Alan Rhea 317 Saddler Rd, Bay Village, OH 44140 | Director | 0.25 | $0 |
Address and contacts
- Address (IRS master file)
- 317 SADDLER RD, BAY VILLAGE, OH 44140-1117
- In care of
- % TRICIA RHEA
- Signed the 990-PF
- Mary P Rhea, President
- Phone
- (216) 469-2490
- Return prepared by
- John Vertal & Associates
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
- 85-3807281
- 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
- 2021
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T99)
- Assets (IRS master file)
- $710,325
- Income (IRS master file)
- $6,603
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $6,603 | $15,287 | $710,325 | XML |
| 990-PF | December 2023 | $5,562 | $271,313 | $719,009 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | 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 85-3807281).
Questions about KARENS WAY
- What is the EIN of KARENS WAY?
- The employer identification number (EIN) of KARENS WAY is 85-3807281.
- Is KARENS WAY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to KARENS WAY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does KARENS WAY file?
- Form 990-PF. Private foundations file every year.
- When is the next return of KARENS WAY 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 KARENS WAY 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 KARENS WAY?
- The 990-PF for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does KARENS WAY have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $6,603, expenses of $15,287 and total assets of $710,325 at year end.
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All nonprofits in BAY VILLAGE · Ohio · Philanthropy, voluntarism and grantmaking foundations