Civic Intelligence

Karat School Project

990 • Fiscal year 2022 • EIN 82-5036957

Jan 01, 2022 to Dec 31, 2022 • Filed on Sep 08, 2023

Organization ProfileTHEKSP.ORG
801 Alma Street H313Palo Alto, CA 94301

(510) 228-9981

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

80th percentile

0.10x

Higher debt load relative to assets than 80% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

0.04x

Higher debt load relative to revenue than 75% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

66th percentile

16%

Higher net margin than 66% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

96th percentile

$73,212

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 21.8% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

89th percentile

81%

Faster asset growth than 89% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

91st percentile

193%

Faster revenue growth than 91% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$121,109

Up $54,175 (+81%) from 2021

Net Assets

Up

$108,609

Up $54,475 (+101%) from 2021

Liabilities

Down

$12,500

Down $300 (-2.3%) from 2021

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin66th percentile

Revenue

Up

$335,775

Up $221,149 (+193%) from 2021

Expenses

Up

$281,300

Up $135,459 (+93%) from 2021

Net Income

Up

$54,475

Up $85,690 (+275%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth89th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150K$100K$50K$0Assets 2020: $98,241Liabilities 2020: $12,892Net Assets 2020: $85,3492020Assets 2021: $66,934Liabilities 2021: $12,800Net Assets 2021: $54,1342021Assets 2022: $121,109Liabilities 2022: $12,500Net Assets 2022: $108,6092022Assets 2023: $51,858Liabilities 2023: $12,888Net Assets 2023: $38,9702023Assets 2024: $112,137Liabilities 2024: $12,500Net Assets 2024: $99,6372024

Highlighted filing

2022

Assets$121,109
Liabilities$12,500
Net Assets$108,609
Open 2022 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200KRevenue 2020: $187,921Expenses 2020: $91,680Net Income 2020: $96,2412020Revenue 2021: $114,626Expenses 2021: $145,841Net Income 2021: -$31,2152021Revenue 2022: $335,775Expenses 2022: $281,300Net Income 2022: $54,4752022Revenue 2023: $142,678Expenses 2023: $212,317Net Income 2023: -$69,6392023Revenue 2024: $313,871Expenses 2024: $253,204Net Income 2024: $60,6672024

Highlighted filing

2022

Revenue$335,775
Expenses$281,300
Net Income$54,475
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 8, 2023
Return Version
2022v5.0
Gross Receipts
$340,371
Mission and Program Overview

Mission

Educate children and women by utilizing a culturally-relevant, dynamic syllabus and new technologies, and enable them to have a lifelong love of learning. Empower those in extreme poverty to reach their full potential. Invest in local communities by delivering supplies and nutritious meals - allowing students and their families to focus on learning. Eradicate the cycle of poverty by providing valuable education and making a sustainable change in people's lives.

To educate children and women living in poverty

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$66,934$121,109▲ $54,175
Rtn Earn Endowment Incm Other Fnds$54,134$108,609▲ $54,475
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$66,934$121,109▲ $54,175
Liabilities
Other Liabilities$12,800$12,500▼ $300
Total Liabilities$12,800$12,500▼ $300
Net Assets / Fund Balance
Total Net Assets Fund Balance$54,134$108,609▲ $54,475
Total Liabilities and Net Assets / Fund Balance$66,934$121,109▲ $54,175

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$2,999$2,999
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Evelyn KeomianPresidentFT$73,212$73,212

Board Members and Trustees

NameTitle
Natalie HerremaMember
Sherry AuerbachMember
GRACE N'ZESecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$335,746
Program Service Revenue
$0
Investment Income
$29
Other Revenue
$0
All Other Contributions
$283,858
Change in Net Assets
$54,475
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$190,178
Salaries, Compensation, and Employee Benefits$91,122
Total Fundraising Expense$4,898
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$63,694$5,125$4,393$73,212
Other Salaries and Wages$9,501--$9,501
Payroll Taxes$7,315$589$505$8,409
Travel$8,093--$8,093
Advertising$6,799--$6,799
Office Expenses$3,229$3,229-$6,458
Fees for Services Accounting$2,472$2,472-$4,944
Other Expenses$1,293--$1,293
All Other Expenses$708--$708
Fees for Services Other$490--$490
Occupancy$318--$318
Conferences and Meetings$299--$299
Total Functional Expenses$264,987$11,415$4,898$281,300
International Activity

International Summary

Offices
1
Employees
20
Spending
$50,465

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-saharan AfricaProgram ServicesCHILDREN'S EDUCATION, WOMEN'S PROGRAMS120$50,465
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$4,596
Fundraising Gross Income$4,596
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
April Fundraising$34,000$4,596-$4,596
Total Events$34,000$4,596$4,596$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Paycheck Protection Program Loan$12,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7B

“4 voting members have fiduciary reposibilities and they overses the well funtioning and transparency of the organization.”

Form 990, Part VI, Section B, Line 11B

“A draft of form 990 is presented to the governing body for their review. Upon completion of the review, the return is finalized, signed and filed.”

Form 990, Part VI, Section B, Line 15

“Comparable employment compensation data is obtained from peers. This data is used by the board of governors in determining compensation of executive officers.”

Form 990, Part VI, Section C, Line 19

“Upon request, the 990 is made available to the members.”

Filing and Contact Details

Filer

Filer Name
Karat School Project
EIN
82-5036957
Phone
5102289981
Address
801 ALMA STREET H313, PALO ALTO, CA 94301

Signing Officer

Name
Evelyne Keomian
Title
President
Phone
5102289981
Signed
2023-09-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Evelyne Keomian
Formed
2017
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
4
Employees
7
Volunteers
122

Preparer

Firm
MACIAS GINI & O'CONNELL LLP
Address
2570 W EL CAMINO REAL 150, MOUNTAIN VIEW, CA 94040
Preparer
Fern Amaral
Phone
6502091800
Raw XML Appendix385 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0EDUCATE CHILDREN AND WOMEN BY UTILIZING A CULTURALLY-RELEVANT, DYNAMIC SYLLABUS AND NEW TECHNOLOGIES, AND ENABLE THEM TO HAVE A LIFELONG LOVE OF LEARNING. EMPOWER THOSE IN EXTREME POVERTY TO REACH THEIR FULL POTENTIAL. INVEST IN LOCAL COMMUNITIES BY DELIVERING SUPPLIES AND NUTRITIOUS MEALS - ALLOWING STUDENTS AND THEIR FAMILIES TO FOCUS ON LEARNING. ERADICATE THE CYCLE OF POVERTY BY PROVIDING VALUABLE EDUCATION AND MAKING A SUSTAINABLE CHANGE IN PEOPLE'S LIVES.
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0SUB-SAHARAN AFRICA
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IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt01532
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt01532
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt04 VOTING MEMBERS HAVE FIDUCIARY REPOSIBILITIES AND THEY OVERSES THE WELL FUNTIONING AND TRANSPARENCY OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT OF FORM 990 IS PRESENTED TO THE GOVERNING BODY FOR THEIR REVIEW. UPON COMPLETION OF THE REVIEW, THE RETURN IS FINALIZED, SIGNED AND FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPARABLE EMPLOYMENT COMPENSATION DATA IS OBTAINED FROM PEERS. THIS DATA IS USED BY THE BOARD OF GOVERNORS IN DETERMINING COMPENSATION OF EXECUTIVE OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST, THE 990 IS MADE AVAILABLE TO THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt066934
IRS990/TotalAssetsEOYAmt0121109
IRS990/TotalAssetsGrp/BOYAmt066934
IRS990/TotalAssetsGrp/EOYAmt0121109
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0335746
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt04898
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011415
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0264987
IRS990/TotalFunctionalExpensesGrp/TotalAmt0281300
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt012800
IRS990/TotalLiabilitiesEOYAmt012500
IRS990/TotalLiabilitiesGrp/BOYAmt012800
IRS990/TotalLiabilitiesGrp/EOYAmt012500
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt054134
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0108609
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0264987
IRS990/TotalReportableCompFromOrgAmt073212
IRS990/TotalRevenueGrp/ExclusionAmt029
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0335775
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0122
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt066934
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0121109
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt08093
IRS990/TravelGrp/TotalAmt08093
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0PALO ALTO
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd094301
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0THEKSP.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EVELYNE KEOMIAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05102289981
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-09-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KARAT SCHOOL PROJECT
ReturnHeader/Filer/BusinessNameControlTxt0KARA
ReturnHeader/Filer/EIN0825036957
ReturnHeader/Filer/PhoneNum05102289981
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ReturnHeader/Filer/USAddress/CityNm0PALO ALTO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0680300457
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MACIAS GINI & O'CONNELL LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02570 W EL CAMINO REAL 150
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MOUNTAIN VIEW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd094040
ReturnHeader/PreparerPersonGrp/PhoneNum06502091800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0FERN AMARAL
ReturnHeader/ReturnTs02023-11-01T17:54:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0EVELYNE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KEOMIAN
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$121,109
Liabilities
$12,500
Net assets
$108,609
Revenue
$335,775
Expenses
$281,300
Net income
$54,475
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.12$0.13$1.00$3.14$2.53$0.61
2023Detailed filing. Detailed filing data is available for this year.$0.52$0.13$0.39$1.43$2.12$0.70
2022Detailed filing. Detailed filing data is available for this year.$1.21$0.13$1.09$3.36$2.81$0.54
2021Detailed filing. Detailed filing data is available for this year.$0.67$0.13$0.54$1.15$1.46$0.31
2020Detailed filing. Detailed filing data is available for this year.$0.98$0.13$0.85$1.88$0.92$0.96