STRATEGY STUDIO / PUBLIC DATA EXPLORER

THE KARP FAMILY FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
THE KARP FAMILY FOUNDATION (EIN 65-6457023)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-03-10
IRS object ID
202500699349100800
Schema version
2024v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-03-10T10:23:15-05:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1NYE STREET PARTNERSBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line118 DIVISION STREETAddressLine1Txt
CitySARATOGA SPRINGSCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12866ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN656457023EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1KARP FAMILY FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% NYE STREET PARTNERS LLCInCareOfNm
Business Name ControlKARPBusinessNameControlTxt
Phone5182466970PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line118 Division St Suite Ste 301AddressLine1Txt
CitySaratoga SpringsCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12866ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJASON H KARPPersonNm
Person TitleTRUSTEEPersonTitleTxt
Phone5182466970PhoneNum
Signature2025-05-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonStephanie DiLaurenzioPreparerPersonNm
PTINP01330453PTIN
Phone5182466970PhoneNum
Preparation2025-05-15PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$152,367FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$362,095ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$269DividendsRevAndExpnssAmt
Dividends Net Invst Incm$269DividendsNetInvstIncmAmt
Total Rev And Expnss$362,364TotalRevAndExpnssAmt
Total Net Invst Incm$269TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Accounting Fees Rev And Expnss$5,000AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$2,500AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm$0AccountingFeesAdjNetIncmAmt
Accounting Fees Chrtbl Prps$2,500AccountingFeesChrtblPrpsAmt
Tot Opr Expenses Rev And Expnss$5,000TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$2,500TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$0TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$2,500TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$158,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$158,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$163,000TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$2,500TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$0TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$160,500TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$199,364ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$8,937CashBOYAmt
Cash EOY$3,706CashEOYAmt
Cash EOYFMV$3,706CashEOYFMVAmt
Corporate Stock BOY$0CorporateStockBOYAmt
Corporate Stock EOY$129,993CorporateStockEOYAmt
Corporate Stock EOYFMV$148,661CorporateStockEOYFMVAmt
Total Assets BOY$8,937TotalAssetsBOYAmt
Total Assets EOY$133,699TotalAssetsEOYAmt
Total Assets EOYFMV$152,367TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$8,937RetainedEarningBOYAmt
Retained Earning EOY$133,699RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$8,937TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$133,699TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$8,937TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$133,699TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$8,937TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$199,364ExcessRevenueOverExpensesAmt
Subtotal$208,301SubtotalAmt
Other Decreases$74,602OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$133,699TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Subtotal$0SubtotalAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$696EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$696TotalPaymentsAndCreditsAmt
Overpayment$696OverpaymentAmt
Applied To ES Tax$696AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateTXOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1NYE STREET PARTNERS LLCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone5182466970PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line118 DIVISION ST SUITE 301AddressLine1Txt
CitySARATOGA SPRINGSCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12866ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
JESSICA KARP
18 Division StSaratoga SpringsNY12866TRUSTEE0$0$0$0
JASON KARP
18 Division StSaratoga SpringsNY12866TRUSTEE0$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1PLEASE NOTE, THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES. ITS PRIMARY PURPOSE IS TO SUPPORT, BY CONTRIBUTIONS, OTHER CHARITABLE ORGANIZATIONS EXEMPTDescription1Txt
Description2UNDER INTERNAL REVENUE CODE SECTION 501(C)(3).Description2Txt
FieldValueIRS element (for citing)
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$125,800AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$14,086AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$139,886TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$139,886AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$2,098CashDeemedCharitableAmt
Net Vl Noncharitable Assets$137,788NetVlNoncharitableAssetsAmt
Minimum Investment Return$6,889MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$6,889MinimumInvestmentReturnAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Total Tax$0TotalTaxAmt
Distributable Before Adj$6,889DistributableBeforeAdjAmt
Distributable Before Ded$6,889DistributableBeforeDedAmt
Distributable As Adjusted$6,889DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$160,500ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$160,500QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$6,889DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12022PriorYear1Yr
Prior Year22021PriorYear2Yr
Prior Year32020PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr5$208,924ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$70,540ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$679,238ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$421,333ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$485,757ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$1,865,792TotalExcessDistributionCyovAmt
Qualifying Distributions$160,500QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$6,889AppliedToCurrentYearAmt
Remaining Distri From Corpus$153,611RemainingDistriFromCorpusAmt
Total Corpus$2,019,403TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$208,924ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$1,810,479ExcessDistriCyovToNextYrAmt
Excess From Year4$70,540ExcessFromYear4Amt
Excess From Year3$679,238ExcessFromYear3Amt
Excess From Year2$421,333ExcessFromYear2Amt
Excess From Year1$485,757ExcessFromYear1Amt
Excess From Current Year$153,611ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerJASON H KARPContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1SEE ATTACHEDBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1C/O 18 DIVISION STREET STE 301AddressLine1Txt
CitySARATOGA SPRINGSCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12866ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipNONERecipientRelationshipTxt
Grant Or Contribution PurposeGENERAL CHARITABLEGrantOrContributionPurposeTxt
Amt$158,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$158,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp
Int On Sav And Temp Cash InvstIntOnSavAndTempCashInvstGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$269ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment IncomeOtherInvestmentIncomeGrp
Gain Sales Ast Oth Than InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$269ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$269TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp (2 entries)

ContributorContributorNumAddress Line1ContributorUSAddress/AddressLine1TxtCityContributorUSAddress/CityNmState AbbreviationContributorUSAddress/StateAbbreviationCdZIPContributorUSAddress/ZIPCdTotal ContributionsTotalContributionsAmtPerson ContributionPersonContributionIndNoncash ContributionNoncashContributionInd
Jason and Jessica Karp
118 DIVISION ST STE 301SARATOGA SPRINGSNY12866$157,500Yes (X)
Jason and Jessica Karp
218 Division St Suite 301Saratoga SpringsNY12866$204,595Yes (X)

Non Cash Property Contribution NonCashPropertyContributionGrp

FieldValueIRS element (for citing)
Contributor2ContributorNum
Noncash Property106,950 shs Grove CollaborativeNoncashPropertyDesc
Fair Market Value$204,595FairMarketValueAmt
Received2024-03-11ReceivedDt

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt
Amt$5,000Amt
Net Investment Income$2,500NetInvestmentIncomeAmt
Disbursements Charitable Prps$2,500DisbursementsCharitablePrpsAmt

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockJP MORGAN X4004StockNm
EOY Book Value$129,993EOYBookValueAmt
EOYFMV$148,661EOYFMVAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescAPPRECIATION OVER DONOR'S COSTDesc
Amt$74,602Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFEDERAL TAXES PAIDCategoryTxt