Elia & Fannie Karas Foundation Inc
Elia & Fannie Karas Foundation Inc is a private foundation, based in SOUTH BOSTON, MA. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $808K in total assets. In 2024, it awarded 16 grants totaling $298K. Net investment income was $79.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$808K
-16.4% YoY
Annual Giving
$298K
+123.6% YoY
Grant Count
16
+33.3% YoY
Avg Grant Size
$19K
+67.7% YoY
Under IRS private-foundation payout rules, Elia & Fannie Karas Foundation Inc reported a distributable amount of $43K for 2024 — the minimum it must pay out in qualifying distributions.
About Elia & Fannie Karas Foundation Inc
Based on IRS filings
Elia & Fannie Karas Foundation Inc is a private foundation, based in SOUTH BOSTON, MA. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $808K in total assets. In 2024, it awarded 16 grants totaling $298K. Net investment income was $79.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $808,226 | $966,704 | $903,621 |
| Revenue | $150,079 | $200,933 | $500,000 |
| Expenses | $308,557 | $137,850 | $107,500 |
| Qualifying Distributions | $297,948 | $133,225 | $102,900 |
| Net Investment Income | $79 | $933 | — |
| Distributable Amount | $42,968 | $46,044 | $34,838 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
44 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Boston Latin School Association ($179,498), Crohn & Colitis Foundation ($50,000), Friends of the Children ($20,000).
| Recipient | Purpose | Amount |
|---|---|---|
| BOSTON LATIN SCHOOL ASSOCIATION BOSTON, MA | CHARITABLE CONTRIBUTION | $179,498 |
| BRIGHAM & WOMENS HOSPITAL BOSTON, MA | CHARITABLE CONTRIBUTION | $5,000 |
| CROHN & COLITIS FOUNDATION NEW YORK, NY | CHARITABLE CONTRIBUTION | $50,000 |
| FIRST GENERATION INVESTORS NEW YORK, NY | CHARITABLE CONTRIBUTION | $1,000 |
| FRIENDS OF THE CHILDREN BOSTON, MA | CHARITABLE CONTRIBUTION | $20,000 |
| HALE EDUCATION WESTWOOD, MA | CHARITABLE CONTRIBUTION | $1,250 |
| JCC OF THE NORTH SHORE MARBLEHEAD, MA | CHARITABLE CONTRIBUTION | $1,500 |
| KELLIE KENNEDY GOLF CLASSIC EAST HAVEN, CT | CHARITABLE CONTRIBUTION | $3,500 |
| OGUNQUIT PLAYHOUSE FOUNDATION OGUNQUIT, ME | CHARITABLE CONTRIBUTION | $5,000 |
| PURPURA FAMILY FOUNDATION MARLBOROUGH, MA | CHARITABLE CONTRIBUTION | $3,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JOSEPH KARAS | PRESIDENT, TREASURER | 5 | — |
Frequently Asked Questions
How large is Elia & Fannie Karas Foundation Inc?
As of 2024, Elia & Fannie Karas Foundation Inc holds $808K in total assets with $150K in annual revenue. It awarded 16 grants totaling $298K in 2024.
Where does Elia & Fannie Karas Foundation Inc operate?
Elia & Fannie Karas Foundation Inc has awarded grants in California, Connecticut, Florida, Massachusetts, Maine, New York.
What size grants does Elia & Fannie Karas Foundation Inc award?
In 2024, Elia & Fannie Karas Foundation Inc awarded 16 grants totaling $298K — an average of about $19K per grant, based on its IRS Form 990 filings.
How much is Elia & Fannie Karas Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Elia & Fannie Karas Foundation Inc reported a distributable amount of $43K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Elia & Fannie Karas Foundation Inc's EIN?
Elia & Fannie Karas Foundation Inc's EIN (Employer Identification Number) is 04-6074427. IRS Form 990 filing data is available on this page for 2021–2024.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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