Karol Fund

Karol Fund faces significant financial challenges with consistent operating deficits and rapidly declining assets.

EIN: 200350673 · Fox Point, WI · NTEE: T20 · Updated: 2026-03-28

$1.2MRevenue

$11KAssets

40/100Mission Score (Fair)

T20

About Karol Fund

Karol Fund (EIN: 200350673) is a nonprofit organization based in Fox Point, WI, classified under NTEE code T20. The organization reported total revenue of $1.2M and total assets of $11K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Karol Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Karol Fund exhibits a concerning financial trend with expenses consistently exceeding revenue in recent years, leading to a significant depletion of assets. For instance, in 2023, the organization reported revenue of $154,661 against expenses of $257,000, resulting in a deficit. This pattern is evident across multiple recent filings, indicating a reliance on existing assets or prior surpluses to cover operational costs. While the organization reports 0% officer compensation, which is a positive sign for minimizing administrative overhead, the overall financial sustainability appears challenged given the persistent operating deficits.

The organization's assets have sharply declined from a peak of $652,929 in 2019 to $116,943 in 2023, and further to $11,046 as of the latest available data. This rapid decrease in assets, coupled with the consistent spending exceeding income, raises questions about long-term viability and program stability. The NTEE code T20 (Philanthropy, Voluntarism, and Grantmaking Foundations) suggests a role in funding other organizations, which might explain lower direct program expenses, but the overall financial health remains a significant concern.

Transparency regarding specific program spending versus administrative and fundraising costs is not explicitly detailed in the provided summary data. However, the consistent reporting of 0% officer compensation is a strong indicator of good governance in that specific area. The primary concern lies in the organization's ability to generate sufficient revenue to cover its expenses and maintain its asset base, which is crucial for any grantmaking foundation to fulfill its mission effectively.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Karol Fund with a Mission Score of 40 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 15%
programs: 75%
fundraising: 10%

According to IRS 990 filings, Karol Fund allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The Karol Fund consistently reports 0% officer compensation across all provided filings, indicating that no executive salaries are paid, which is highly commendable for minimizing administrative costs.

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 Karol Fund's IRS 990 filings:

Consistent operating deficits: Expenses have exceeded revenue in multiple recent years (e.g., 2023, 2022, 2021).
Rapid depletion of assets: Assets have decreased from $652,929 in 2019 to $11,046 currently.
Low current assets relative to expenses: Current assets of $11,046 are insufficient to cover even a fraction of annual expenses (e.g., $257,000 in 2023).

Strengths

The following positive indicators were identified for Karol Fund:

Zero officer compensation: No executive salaries are reported, indicating efficient use of funds in this area.
Low liabilities: Liabilities are consistently reported as $0 or $1, suggesting good financial management of debt.

Frequently Asked Questions about Karol Fund

Is Karol Fund financially sustainable?

Based on the provided data, Karol Fund's financial sustainability is questionable. Expenses have consistently exceeded revenue in recent years (e.g., $257,000 expenses vs. $154,661 revenue in 2023), leading to a significant depletion of assets from $652,929 in 2019 to $11,046 currently.

Why are Karol Fund's assets declining so rapidly?

The rapid decline in assets (from $652,929 in 2019 to $11,046 currently) is primarily due to the organization consistently spending more than it earns. For example, in 2023, expenses were $102,339 higher than revenue.

Does Karol Fund pay its officers?

No, the provided IRS 990 data consistently shows 0% officer compensation across all available filing periods, indicating that no salaries are paid to officers.

Filing History

IRS 990 filing history for Karol Fund showing financial trends over 11 years of public records:

Over 11 years of IRS 990 filings (2010–2023), Karol Fund's revenue has declined by 48.5%, moving from $300K to $155K. Total assets increased by 575.1% over the same period, from $17K to $117K. Total functional expenses fell by 42.1%, from $444K to $257K. In its most recent filing year (2023), Karol Fund reported a deficit of $102K, with expenses exceeding revenue. The organization holds $1 in liabilities against $117K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $117K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$155K	$257K	$117K	$1	—	View 990
2022	$54K	$249K	$235K	$1	—	View 990
2021	$5K	$232K	$392K	$1	—	—
2020	$311K	$187K	$648K	$1	—	View 990
2019	$7K	$190K	$653K	$0	—	View 990
2015	$750K	$375K	$275K	$0	—	View 990
2014	$400K	$362K	$140K	$0	—	View 990
2013	$400K	$329K	$101K	$0	—	View 990
2012	$300K	$324K	$30K	$0	—	View 990
2011	$350K	$313K	$54K	$0	—	View 990
2010	$300K	$444K	$17K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $155K, expenses of $257K, and assets of $117K (revenue +183.8% year-over-year).
2022: Revenue of $54K, expenses of $249K, and assets of $235K (revenue +1020.8% year-over-year).
2021: Revenue of $5K, expenses of $232K, and assets of $392K (revenue -98.4% year-over-year).
2020: Revenue of $311K, expenses of $187K, and assets of $648K (revenue +4616.8% year-over-year).
2019: Revenue of $7K, expenses of $190K, and assets of $653K (revenue -99.1% year-over-year).
2015: Revenue of $750K, expenses of $375K, and assets of $275K (revenue +87.5% year-over-year).
2014: Revenue of $400K, expenses of $362K, and assets of $140K (revenue +0.0% year-over-year).
2013: Revenue of $400K, expenses of $329K, and assets of $101K (revenue +33.3% year-over-year).
2012: Revenue of $300K, expenses of $324K, and assets of $30K (revenue -14.3% year-over-year).
2011: Revenue of $350K, expenses of $313K, and assets of $54K (revenue +16.6% year-over-year).
2010: Revenue of $300K, expenses of $444K, and assets of $17K.

Data Sources and Methodology

This transparency report for Karol Fund 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.