KARENS WAY: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
KARENS WAY (EIN 85-3807281)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-12-13
IRS object ID
202333479349100408
Schema version
2022v5.0
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)
Return2023-12-13T04:42:54-00:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN201427807PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1John G Vertal CFP CPAPFSBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11001 Jaycox Road Suite 2AddressLine1Txt
CityAvonCityNm
State AbbreviationOHStateAbbreviationCd
ZIP44011ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN853807281EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Karen's WayBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlKAREBusinessNameControlTxt
Phone2164692497PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line128838 Lake RoadAddressLine1Txt
CityBay VillageCityNm
State AbbreviationOHStateAbbreviationCd
ZIP44140ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJohn NortonPersonNm
Person TitlePresidentPersonTitleTxt
Phone2164692497PhoneNum
Signature2023-12-13SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstJohnPersonFirstNm
Person LastNortonPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJohn G VertalPreparerPersonNm
PTINP00722237PTIN
Phone4409379301PhoneNum
Preparation2023-12-13PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Initial Return Former Pub ChrtyYes (X)InitialReturnFormerPubChrtyInd
Organization501c3 Taxable PFYes (X)Organization501c3TaxablePFInd
FMV Assets EOY$716,044FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Dividends Rev And Expnss$5,310DividendsRevAndExpnssAmt
Dividends Net Invst Incm$5,310DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$5,310TotalRevAndExpnssAmt
Total Net Invst Incm$5,310TotalNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$0TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$65,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$65,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$65,000TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$65,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$59,690ExcessRevenueOverExpensesAmt
Net Investment Income$5,310NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$73,947CashBOYAmt
Cash EOY$14,257CashEOYAmt
Cash EOYFMV$14,257CashEOYFMVAmt
Corporate Stock BOY$1,100,395CorporateStockBOYAmt
Corporate Stock EOY$1,100,395CorporateStockEOYAmt
Corporate Stock EOYFMV$701,787CorporateStockEOYFMVAmt
Total Assets BOY$1,174,342TotalAssetsBOYAmt
Total Assets EOY$1,114,652TotalAssetsEOYAmt
Total Assets EOYFMV$716,044TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$1,174,342RetainedEarningBOYAmt
Retained Earning EOY$1,114,652RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$1,174,342TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,114,652TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,174,342TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,114,652TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,174,342TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$59,690ExcessRevenueOverExpensesAmt
Subtotal$1,114,652SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,114,652TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$74InvestmentIncomeExciseTaxAmt
Subtotal$74SubtotalAmt
Tax Based On Investment Income$74TaxBasedOnInvestmentIncomeAmt
Tax Due$74TaxDueAmt

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 SatisfiedfalseSection508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateOHOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressKarensWay.orgWebsiteAddressTxt
Individual With BooksMary Patricia RheaIndividualWithBooksNm
Phone2164692490PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line127030 Bruce RoadAddressLine1Txt
CityBay VillageCityNm
State AbbreviationOHStateAbbreviationCd
ZIP44140ZIPCd
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
Business HoldingsfalseBusinessHoldingsInd
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
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (4 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
JOHN NORTON
28838 LAKE RDBAY VILLAGEOH44140PRESIDENT000.25$0
MARY PATRICIA RHEA
27030 BRUCE RDBAY VILLAGEOH44140SECRETARY/DIRECTOR001.00$0
CHARLES R NORTON
28838 LAKE RDBAY VILLAGEOH44140TREASURER/DIRECTOR000.25$0
ALAN RHEA
27030 BRUCE RDBAY VILLAGEOH44140DIRECTOR000.25$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1To provide financial charitable assistance for relief of the distressed or the underprivileged including families, individuals other charitable 501(c)(3) programs.Description1Txt
Expenses1$65,000Expenses1Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$953,853AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$64,805AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,018,658TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$1,018,658AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$15,280CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,003,378NetVlNoncharitableAssetsAmt
Minimum Investment Return$50,169MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$50,169MinimumInvestmentReturnAmt
Tax Based On Investment Income$74TaxBasedOnInvestmentIncomeAmt
Total Tax$74TotalTaxAmt
Distributable Before Adj$50,095DistributableBeforeAdjAmt
Distributable Before Ded$50,095DistributableBeforeDedAmt
Distributable As Adjusted$50,095DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$65,000ExpensesAndContributionsAmt
Qualifying Distributions$65,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$50,095DistributableAsAdjustedAmt
Undistributed Income PY$22,911UndistributedIncomePYAmt
Qualifying Distributions$65,000QualifyingDistributionsAmt
Applied To Year1$22,911AppliedToYear1Amt
Applied To Current Year$42,089AppliedToCurrentYearAmt
Undistributed Income CY$8,006UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerJohn E NortonContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonMary Patricia RheaRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line127030 Bruce RdAddressLine1Txt
CityBay VillageCityNm
State AbbreviationOHStateAbbreviationCd
ZIP44140ZIPCd
FieldValueIRS element (for citing)
Recipient Email Addressmarypatriciarheagmail.comRecipientEmailAddressTxt
Form And Info And MaterialsWritten requestFormAndInfoAndMaterialsTxt
Submission DeadlinesN/ASubmissionDeadlinesTxt
Restrictions On AwardsN/ARestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
WORLD CENTRAL KITCHEN
200 MASSACHUSETTS AVE NW 7TH FLOORWASHINGTONDC20001PROVIDE FOOD TO UKRAINE AND SURROUNDING NATIONS$30,000
DOCTORS WITHOUT BORDERS
40 RECTOR ST 16TH FLOORNEW YORKNY100061751GETTING PATIENTS CARE THEY NEED$30,000
BAY HIGH SCHOOL KEY CLUB
29230 WOLF RDBAY VILLAGEOH44140THIRST PROJECT$5,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$65,000TotalGrantOrContriPdDurYrAmt

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

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (6 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
7 shares of ALPHABET INC CAP STK CL C$11,999$11,659
40 shares of ALPHABET INC CAP STK CL A$112,640$71,632
118 shares of AMAZON.COM INC$406,885$198,877
169 shares of APPLE INC$24,000$21,906
62 shares of LOWES COMPANIES INC COM USD0.50$6,034$12,353
1607 shares of MICROSOFT CORP$538,837$385,360

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonJohn NortonPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line128838 Lake RoadAddressLine1Txt
CityBay villageCityNm
State AbbreviationOHStateAbbreviationCd
ZIP44140ZIPCd

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