Friends Of Karen Inc
Friends Of Karen Inc faces recent deficit despite strong historical program focus and stable assets.
EIN: 141612290 · North Salem, NY · NTEE: E800 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.2M |
| Total Expenses | $4.5M |
| Program Spending | 85% |
| Net Assets | $5.5M |
| Transparency Score | 85/100 |
Is Friends Of Karen Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Friends Of Karen Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Friends Of Karen Inc
Friends Of Karen Inc (EIN: 141612290) is a nonprofit organization based in North Salem, NY, classified under NTEE code E800. The organization reported total revenue of $5.2M and total assets of $5.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of Karen Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of Karen Inc is a mid-size nonprofit that has been operating for 43 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 1.6%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.7M |
| Total Expenses | $4.5M |
| Surplus / Deficit | $-799,674 |
| Total Assets | $5.7M |
| Total Liabilities | $144K |
| Net Assets | $5.5M |
| Operating Margin | -21.4% |
| Debt-to-Asset Ratio | 2.5% |
| Months of Reserves | 15.1 months |
Financial Health Grade: B
In 2024, Friends Of Karen Inc reported a deficit of $800K with expenses exceeding revenue, holds 15.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.5% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Friends Of Karen Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -14.8% | +4.3% | -9.0% |
| 2023 | -3.2% | +9.8% | -2.4% |
| 2022 | +17.0% | +3.6% | -0.2% |
| 2021 | +1.9% | -8.0% | +22.2% |
| 2020 | +1.4% | +0.4% | -12.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1983 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Friends Of Karen Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Friends Of Karen Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $800K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.5%.
Executive Compensation Analysis
The provided data consistently shows 0% officer compensation across all available filings, which suggests either that executive leadership is entirely volunteer-based or that compensation is reported under other expense categories, requiring further investigation for full transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Friends Of Karen Inc's IRS 990 filings:
- Significant deficit in the most recent fiscal period (202403) where expenses exceeded revenue by nearly $800,000.
- Lack of clarity regarding executive compensation reporting, as 0% officer compensation is consistently reported, which may obscure actual remuneration if it's categorized elsewhere.
Strengths
The following positive indicators were identified for Friends Of Karen Inc:
- Consistent history of IRS 990 filings, demonstrating transparency and compliance.
- Stable asset base, generally above $5 million, providing a financial cushion.
- Historical trend of revenues closely matching or exceeding expenses, indicating sound financial management in most periods.
- Implied strong program focus, given the nature of a nonprofit and the general financial health.
Frequently Asked Questions about Friends Of Karen Inc
Is Friends Of Karen Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Friends Of Karen Inc (EIN: 141612290) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Friends Of Karen Inc spend its money?
Friends Of Karen Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Friends Of Karen Inc tax-deductible?
Friends Of Karen Inc is registered as a tax-exempt nonprofit (EIN: 141612290). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Friends Of Karen Inc's spending goes to programs?
Friends Of Karen Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Friends Of Karen Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Friends Of Karen Inc is above average for NTEE category E800 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Friends Of Karen Inc located?
Friends Of Karen Inc is headquartered in North Salem, New York and files with the IRS under EIN 141612290. It is classified under NTEE code E800.
How many years of IRS 990 filings does Friends Of Karen Inc have?
Friends Of Karen Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $5.2M in total revenue.
What caused the significant deficit in the 202403 fiscal period?
The 202403 filing shows expenses of $4,533,117 against revenues of $3,733,443, resulting in a deficit of $799,674. Further details from the full 990 filing would be needed to understand the specific reasons for this increase in expenses or decrease in revenue.
How does Friends Of Karen Inc manage to report 0% officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that the organization's leadership may be entirely volunteer-based, or that compensation for key executives is categorized differently within the 990, such as under general salaries and wages, which would require reviewing the full Form 990 for clarification.
What is the organization's strategy for maintaining asset stability given fluctuating revenues?
The organization's assets have remained relatively stable, generally above $5 million, even with periods of revenue fluctuation and deficits. This suggests a prudent approach to asset management, possibly through reserves or investment strategies, which would be detailed in the full financial statements.
Filing History
IRS 990 filing history for Friends Of Karen Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Friends Of Karen Inc's revenue has grown by 21.6%, moving from $3.1M to $3.7M. Total assets increased by 0.5% over the same period, from $5.7M to $5.7M. Total functional expenses rose by 39.4%, from $3.3M to $4.5M. In its most recent filing year (2024), Friends Of Karen Inc reported a deficit of $800K, with expenses exceeding revenue. The organization holds $144K in liabilities against $5.7M in assets (debt-to-asset ratio: 2.5%), resulting in net assets of $5.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $3.7M | $4.5M | $5.7M | $144K | — | View 990 |
| 2023 | $4.4M | $4.3M | $6.3M | $322K | — | — |
| 2022 | $4.5M | $4.0M | $6.4M | $290K | — | View 990 |
| 2021 | $3.9M | $3.8M | $6.4M | $777K | — | — |
| 2020 | $3.8M | $4.2M | $5.3M | $467K | — | View 990 |
| 2019 | $3.7M | $4.1M | $6.0M | $121K | — | View 990 |
| 2018 | $3.8M | $4.0M | $6.4M | $163K | — | — |
| 2017 | $3.9M | $3.8M | $6.4M | $158K | — | View 990 |
| 2016 | $4.0M | $4.2M | $6.1M | $154K | — | View 990 |
| 2015 | $4.2M | $3.9M | $6.7M | $277K | — | View 990 |
| 2014 | $3.7M | $3.5M | $6.1M | $167K | — | View 990 |
| 2013 | $3.3M | $3.4M | $5.7M | $178K | — | View 990 |
| 2012 | $3.1M | $3.3M | $5.7M | $228K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $3.7M, expenses of $4.5M, and assets of $5.7M (revenue -14.8% year-over-year).
- 2023: Revenue of $4.4M, expenses of $4.3M, and assets of $6.3M (revenue -3.2% year-over-year).
- 2022: Revenue of $4.5M, expenses of $4.0M, and assets of $6.4M (revenue +17.0% year-over-year).
- 2021: Revenue of $3.9M, expenses of $3.8M, and assets of $6.4M (revenue +1.9% year-over-year).
- 2020: Revenue of $3.8M, expenses of $4.2M, and assets of $5.3M (revenue +1.4% year-over-year).
- 2019: Revenue of $3.7M, expenses of $4.1M, and assets of $6.0M (revenue -2.3% year-over-year).
- 2018: Revenue of $3.8M, expenses of $4.0M, and assets of $6.4M (revenue -1.2% year-over-year).
- 2017: Revenue of $3.9M, expenses of $3.8M, and assets of $6.4M (revenue -1.9% year-over-year).
- 2016: Revenue of $4.0M, expenses of $4.2M, and assets of $6.1M (revenue -6.9% year-over-year).
- 2015: Revenue of $4.2M, expenses of $3.9M, and assets of $6.7M (revenue +14.1% year-over-year).
- 2014: Revenue of $3.7M, expenses of $3.5M, and assets of $6.1M (revenue +13.0% year-over-year).
- 2013: Revenue of $3.3M, expenses of $3.4M, and assets of $5.7M (revenue +7.2% year-over-year).
- 2012: Revenue of $3.1M, expenses of $3.3M, and assets of $5.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of Karen Inc:
Data Sources and Methodology
This transparency report for Friends Of Karen Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.