KARENS WAY: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization: KARENS WAY (EIN 85-3807281)
Tax period: 2024-01-01 to 2024-12-31
Filed: 2025-08-11
IRS object ID: 202542239349100229
Schema version: 2024v5.2
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
Form 990-PF
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2025-08-11T14:38:52-07:00	ReturnTs
Tax Period End	2024-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	201427807	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	John Vertal & Associates	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	1001 Jaycox Rd Suite 2	AddressLine1Txt
City	Avon	CityNm
State Abbreviation	OH	StateAbbreviationCd
ZIP	44011	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2024-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	853807281	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Karen's Way	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	KARE	BusinessNameControlTxt
Phone	2164692490	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	317 Saddler Rd	AddressLine1Txt
City	Bay Village	CityNm
State Abbreviation	OH	StateAbbreviationCd
ZIP	44140	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	Mary P Rhea	PersonNm
Person Title	President	PersonTitleTxt
Phone	2164692490	PhoneNum
Signature	2025-08-11	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (true)	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	John G Vertal CPA	PreparerPersonNm
PTIN	P00722237	PTIN
Phone	4409379301	PhoneNum
Preparation	2025-08-11	PreparationDt

Field	Value	IRS element (for citing)
Tax	2024	TaxYr
Build TS	2025-03-06 01:10:19Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$905,325	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Rcvd Rev And Expnss	$1,100	ContriRcvdRevAndExpnssAmt
Schedule B Not Required	Yes (X)	ScheduleBNotRequiredInd
Dividends Rev And Expnss	$5,503	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$5,503	DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm	$0	CapGainNetIncmNetInvstIncmAmt
Gross Profit Rev And Expnss	$0	GrossProfitRevAndExpnssAmt
Other Income Rev And Expnss	$0	OtherIncomeRevAndExpnssAmt
Total Rev And Expnss	$6,603	TotalRevAndExpnssAmt
Total Net Invst Incm	$5,503	TotalNetInvstIncmAmt
Legal Fees Rev And Expnss	$0	LegalFeesRevAndExpnssAmt
Accounting Fees Rev And Expnss	$2,690	AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps	$2,690	AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss	$0	OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss	$200	TaxesRevAndExpnssAmt
Taxes Net Invst Incm	$200	TaxesNetInvstIncmAmt
Deprec And Dpltn Rev And Expnss	$0	DeprecAndDpltnRevAndExpnssAmt
Other Expenses Rev And Expnss	$0	OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss	$2,890	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$200	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$2,690	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$12,397	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$12,397	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$15,287	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$200	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$15,087	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	-$8,684	ExcessRevenueOverExpensesAmt
Net Investment Income	$5,303	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$22,323	CashBOYAmt
Cash EOY	$13,639	CashEOYAmt
Cash EOYFMV	$13,639	CashEOYFMVAmt
Rcvbl From Officers EOY	$0	RcvblFromOfficersEOYAmt
Other Nts And Loans Rcvbl EOY	$0	OtherNtsAndLoansRcvblEOYAmt
Corporate Stock BOY	$696,686	CorporateStockBOYAmt
Corporate Stock EOY	$696,686	CorporateStockEOYAmt
Corporate Stock EOYFMV	$891,686	CorporateStockEOYFMVAmt
Land Bldg Investments EOY	$0	LandBldgInvestmentsEOYAmt
Other Investments EOY	$0	OtherInvestmentsEOYAmt
Land EOY	$0	LandEOYAmt
Other Assets BOY	$0	OtherAssetsBOYAmt
Other Assets EOY	$0	OtherAssetsEOYAmt
Other Assets EOYFMV	$0	OtherAssetsEOYFMVAmt
Total Assets BOY	$719,009	TotalAssetsBOYAmt
Total Assets EOY	$710,325	TotalAssetsEOYAmt
Total Assets EOYFMV	$905,325	TotalAssetsEOYFMVAmt
Loans From Officers EOY	$0	LoansFromOfficersEOYAmt
Mortgages And Notes Payable EOY	$0	MortgagesAndNotesPayableEOYAmt
Other Liabilities BOY	$0	OtherLiabilitiesBOYAmt
Other Liabilities EOY	$0	OtherLiabilitiesEOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind
Retained Earning BOY	$719,009	RetainedEarningBOYAmt
Retained Earning EOY	$710,325	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$719,009	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$710,325	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$719,009	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$710,325	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$719,009	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	-$8,684	ExcessRevenueOverExpensesAmt
Subtotal	$710,325	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$710,325	TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$74	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Subtotal	$74	SubtotalAmt
Subtitle A Tax	$0	SubtitleATaxAmt
Tax Based On Investment Income	$74	TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid	$0	ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits	$0	TotalPaymentsAndCreditsAmt
Original Return Tax Paid	$0	OriginalReturnTaxPaidAmt
Tax Due	$74	TaxDueAmt
Applied To ES Tax	$0	AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	false	LegislativePoliticalActyInd
More Than100 Spent	false	MoreThan100SpentInd
Form1120 POL Filed	false	Form1120POLFiledInd
Activities Not Previously Rpt	false	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	false	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (true)	AtLeast5000InAssetsInd
Form990 PF Filed With Atty Gen	Yes (true)	Form990PFFiledWithAttyGenInd
Private Operating Foundation	false	PrivateOperatingFoundationInd
New Substantial Contributors	false	NewSubstantialContributorsInd
Own Controlled Entity	false	OwnControlledEntityInd
Donor Advised Fund	false	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (true)	ComplyWithPublicInspRqrInd
Website Address	N/A	WebsiteAddressTxt
Individual With Books	Mary Partricia Rhea	IndividualWithBooksNm
Phone	2164692490	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	317 Saddler Rd	AddressLine1Txt
City	Bay Village	CityNm
State Abbreviation	OH	StateAbbreviationCd
ZIP	44140	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	false	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	false	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	false	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	false	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	false	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
Uncorrected Prior Acts	false	UncorrectedPriorActsInd
Undistributed Income PY	false	UndistributedIncomePYInd
Business Holdings	false	BusinessHoldingsInd
Jeopardy Investments	false	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	false	UncorrectedPYJeopardyInvstInd
Influence Legislation	false	InfluenceLegislationInd
Influence Election	false	InfluenceElectionInd
Grants To Individuals	false	GrantsToIndividualsInd
Grants To Organizations	false	GrantsToOrganizationsInd
Noncharitable Purpose	false	NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (5 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
Jack N Rhea
317 Saddler Rd	Bay Village	OH	44140	Secretary	0.25	$0	$0	$0
Mary Patricia Rhea
317 Saddler Rd	Bay Village	OH	44140	President	1.00	$0	$0	$0
Charles N Norton
317 Saddler Rd	Bay Village	OH	44140	Treasurer/director	0.25	$0	$0	$0
Brooke N Rhea
317 Saddler Rd	Bay Village	OH	44140	Secretary	0.25	$0	$0	$0
Erica Omojuannfo
317 Saddler Rd	Bay Village	OH	44140	Member	0.25	$0	$0	$0

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k	0	OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k	0	ContractorPaidOver50kCnt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$817,119	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$17,981	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$835,100	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast	$835,100	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$12,527	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$822,573	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$41,129	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$41,129	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$74	TaxBasedOnInvestmentIncomeAmt
Total Tax	$74	TotalTaxAmt
Distributable Before Adj	$41,055	DistributableBeforeAdjAmt
Distributable Before Ded	$41,055	DistributableBeforeDedAmt
Distributable As Adjusted	$41,055	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$15,087	ExpensesAndContributionsAmt
Qualifying Distributions	$15,087	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$41,055	DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5	$0	ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4	$0	ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3	$0	ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2	$0	ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1	$226,714	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$226,714	TotalExcessDistributionCyovAmt
Qualifying Distributions	$15,087	QualifyingDistributionsAmt
Treated As Distri From Corpus	$0	TreatedAsDistriFromCorpusAmt
Applied To Current Year	$15,087	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$0	RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus	$25,968	ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY	$25,968	ExcessDistributionCyovAppCYAmt
Total Corpus	$200,746	TotalCorpusAmt
Prior Year Undistributed Incm	$0	PriorYearUndistributedIncmAmt
Taxable1	$0	Taxable1Amt
Taxable2	$0	Taxable2Amt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5	$0	ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr	$200,746	ExcessDistriCyovToNextYrAmt
Excess From Year4	$0	ExcessFromYear4Amt
Excess From Year3	$0	ExcessFromYear3Amt
Excess From Year2	$0	ExcessFromYear2Amt
Excess From Year1	$200,746	ExcessFromYear1Amt
Excess From Current Year	$0	ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	NONE	ContributingManagerNm

Application Submission Info ApplicationSubmissionInfoGrp

Field	Value	IRS element (for citing)
Recipient Person	Mary Patricia Rhea	RecipientPersonNm

Recipient US Address RecipientUSAddress

Field	Value	IRS element (for citing)
Address Line1	317 Saddler Rd	AddressLine1Txt
City	Bay Village	CityNm
State Abbreviation	OH	StateAbbreviationCd
ZIP	44140	ZIPCd

Field	Value	IRS element (for citing)
Recipient Phone	2164692490	RecipientPhoneNum
Form And Info And Materials	Written request	FormAndInfoAndMaterialsTxt
Submission Deadlines	N/A	SubmissionDeadlinesTxt
Restrictions On Awards	N/A	RestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (4 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
Norton Industries
1366 W 117th St	Lakewood	OH	44107	ForProfit	Donation to repair rental for family in needfor use	$7,397
younglife
PO Box 5184	Harlan	IA	515930684	PC	Gift for to Cleveland WestshoreOperating expenses	$500
Run Univeristy
585 Columbia Rd	Bay Village	OH	44140	PC	Amy Mihaljevic Memorial 5k Run &1 mile walk	$2,000
The Leukemia & Lymphoma Society Inc
3 International Dr Ste 200	Rye Brook	NY	10573	PC	Student Visionaries Campaign 2024	$2,500

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$12,397	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Field	Value	IRS element (for citing)
Business	523000	BusinessCd
Unrelated Business Taxbl Incm	$5,503	UnrelatedBusinessTaxblIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Unrelated Business Taxbl Incm	$5,503	UnrelatedBusinessTaxblIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$5,503	TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	false	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	false	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	false	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	false	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	false	ReimbursementArrangementsInd
Loans Or Loan Guarantees	false	LoansOrLoanGuaranteesInd
Performance Of Services Etc	false	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	false	RelationshipsNonchrtblEOInd

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

Field	Value	IRS element (for citing)
Category	FILING FEES	CategoryTxt
Amt	$200	Amt
Net Investment Income	$200	NetInvestmentIncomeAmt

KARENS WAY: Form 990PF, tax year 2024

Return header ReturnHeader

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Preparer US Address PreparerUSAddress

Filer Filer

Business Name BusinessName

US Address USAddress

Business Officer BusinessOfficerGrp

Preparer Person PreparerPersonGrp

Form 990-PF IRS990PF

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Statements Regarding Acty StatementsRegardingActyGrp

Location Of Books US Address LocationOfBooksUSAddress

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (5 entries)

Minimum Investment Return MinimumInvestmentReturnGrp

Distributable Amount DistributableAmountGrp

PF Qualifying Distributions PFQualifyingDistributionsGrp

Undistributed Income UndistributedIncomeGrp

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

Recipient US Address RecipientUSAddress

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (4 entries)

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

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