KARENS WAY: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
KARENS WAY (EIN 85-3807281)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-11-16
IRS object ID
202243209349101059
Schema version
2021v4.2
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)
Return2022-11-16T12:41:36-00:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN260643546PreparerFirmEIN

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 Begin2021-01-01TaxPeriodBeginDt

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

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
Signature2022-11-16SignatureDt
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
Preparation2022-11-16PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Initial Return Former Pub ChrtyYes (X)InitialReturnFormerPubChrtyInd
Organization501c3 Taxable PFYes (X)Organization501c3TaxablePFInd
FMV Assets EOY$1,191,663FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$1,108,122ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$560DividendsRevAndExpnssAmt
Dividends Net Invst Incm$560DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$286NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$10,043GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$286CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$1,108,968TotalRevAndExpnssAmt
Total Net Invst Incm$846TotalNetInvstIncmAmt
Other Expenses Rev And Expnss$610OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$610TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$40,050ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$40,050ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$40,660TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$40,050TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$1,068,308ExcessRevenueOverExpensesAmt
Net Investment Income$846NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$100,000CashBOYAmt
Cash EOY$73,947CashEOYAmt
Cash EOYFMV$73,947CashEOYFMVAmt
Corporate Stock BOY$6,034CorporateStockBOYAmt
Corporate Stock EOY$1,100,395CorporateStockEOYAmt
Corporate Stock EOYFMV$1,117,716CorporateStockEOYFMVAmt
Total Assets BOY$106,034TotalAssetsBOYAmt
Total Assets EOY$1,174,342TotalAssetsEOYAmt
Total Assets EOYFMV$1,191,663TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$106,034RetainedEarningBOYAmt
Retained Earning EOY$1,174,342RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$106,034TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,174,342TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$106,034TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,174,342TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$106,034TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$1,068,308ExcessRevenueOverExpensesAmt
Subtotal$1,174,342SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,174,342TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyAMAZON.COM INCPropertyDesc
How AcquiredPHowAcquiredCd
Acquired2021-01-27AcquiredDt
Sold2021-10-29SoldDt
Gross Sales Price$10,043GrossSalesPriceAmt
Cost Or Other Basis$9,757CostOrOtherBasisAmt
Gain Or Loss$286GainOrLossAmt
Gains Minus Excess Or Losses$286GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$286CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$286NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$12InvestmentIncomeExciseTaxAmt
Subtotal$12SubtotalAmt
Tax Based On Investment Income$12TaxBasedOnInvestmentIncomeAmt
Tax Due$12TaxDueAmt

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
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
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

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$40,050Expenses1Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$1,191,663AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$86,974AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,278,637TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$1,278,637AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$19,180CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,259,457NetVlNoncharitableAssetsAmt
Minimum Investment Return$62,973MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$62,973MinimumInvestmentReturnAmt
Tax Based On Investment Income$12TaxBasedOnInvestmentIncomeAmt
Total Tax$12TotalTaxAmt
Distributable Before Adj$62,961DistributableBeforeAdjAmt
Distributable Before Ded$62,961DistributableBeforeDedAmt
Distributable As Adjusted$62,961DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$40,050ExpensesAndContributionsAmt
Qualifying Distributions$40,050QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$62,961DistributableAsAdjustedAmt
Qualifying Distributions$40,050QualifyingDistributionsAmt
Applied To Current Year$40,050AppliedToCurrentYearAmt
Undistributed Income CY$22,911UndistributedIncomeCYAmt

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 (11 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
SAFE HARBOR - NORTON
126 WINDSOR CIRCLEAURORAOH44202NCPUBLIC SUPPORT$1,000
AMERICAN RED CROSS
431 18TH ST NWWASHINGTONDC20006NCPUBLIC SUPPORT$5,000
THE CARTER CENTER
ONE COPENHILL 453 FREEDOM PKWY NEATLANTAGA30307NCPUBLIC SUPPORT$10,000
L'ARCHE CLEVELAND
11811 SHAKER BLVD STE 116CLEVELANDOH44120NCPUBLIC SUPPORT$2,500
CLEVELAND METROPARKS
4101 FULTON PARKWAYCLEVELANDOH44144NCPUBLIC SUPPORT$1,000
THE GATHERING PLACE
25425 CENTER RIDGE RDWESTLAKEOH44145NCPUBLIC SUPPORT$5,000
BAY MUSIC BOOSTERS
29233 WOLF ROADBAY VILLAGEOH44140NCPUBLIC SUPPORT$550
THE LET'S SHARE THE SUN FOUNDATION
165 JORDAN ROADTROYNY12180NCPUBLIC SUPPORT$10,000
HOMELESS HOOKUP CLE
4411 LUCILLE AVESOUTH EUCLIDOH44121NCTRAVELING SHOW BUS$1,000
BAY VILLAGE FOUNDATION
PO BOX 40122BAY VILLAGEOH44140NCPUBLIC SUPPORT$2,500
MALACHI HOUSE
2810 CLINTON AVECLEVELANDOH44113NCPUBLIC SUPPORT$1,500
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$40,050TotalGrantOrContriPdDurYrAmt

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 Taxable PFYes (X)Organization501c3TaxablePFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp (2 entries)

ContributorContributorNumAddress Line1ContributorUSAddress/AddressLine1TxtCityContributorUSAddress/CityNmState AbbreviationContributorUSAddress/StateAbbreviationCdZIPContributorUSAddress/ZIPCdTotal ContributionsTotalContributionsAmtPerson ContributionPersonContributionInd
John E Norton
128838 Lake RdBay VillageOH44140$1,008,122Yes (X)
John E Norton
228838 Lake RdBay VillageOH44140$100,000Yes (X)

General Explanation Attachment GeneralExplanationAttachment

General Explanation GeneralExplanationGrp

FieldValueIRS element (for citing)
Form And Line ReferenceEnter statement title here 990-PF, Part VI-A, line 10 - Substantial Contributors John Norton, 28838FormAndLineReferenceDesc
Medium ExplanationEnter statement title here 990PF Part VIA line 10 Substantial Contributors John Norton 28838 Lake Road Bay Village OH 44140 total contributions made in 2021 were 1108122 100% of contributions received.MediumExplanationTxt

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$19,011
40 shares of ALPHABET INC CAP STK CL A$112,640$117,602
118 shares of AMAZON.COM INC$406,885$394,716
169 shares of APPLE INC$24,000$29,938
62 shares of LOWES COMPANIES INC COM USD0.50$6,034$16,026
1607 shares of MICROSOFT CORP$538,837$540,423

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
OFFICE SUPPLIES$10
FILING FEES$600

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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