Karen's Way
Karen's Way is a private foundation, based in Bay Village, OH. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $710K in total assets. In 2024, it awarded 4 grants totaling $12K. Net investment income was $5K.
Karen's Way at a glance
In short: Karen's Way gave $12K across 4 grants in 2024 (avg $3K), mostly in Ohio. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $12,397
- -95.4% vs 2023
- Grants made (2024)
- 4
- -20.0% vs 2023
- Average grant
- $3,099
- -94.2% vs 2023
- Median grant
- $2,250
- Total assets
- $710,325
- -1.2% vs 2023
- Primary geography
- Ohio (76% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Karen's Way funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2024
The largest 2024 recipient was Norton Industries ($7K). Together the top 4 received $12K.
Grant Size Distribution
23 grants across all recorded years
The most common grant size was under $50K: 22 grants of 23 (96%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 4 itemized grants.
Cities
How Karen's Way gives
- Giving fell 69% from 2021 to 2024. Method
- In 2024 it paid out 37% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2024, annual grant giving ranged from $12K (2024) to $269K (2023). In 2024 it made 4 grants totaling $12K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Norton Industries Lakewood, OH | Donation to repair rental for family in needfor use | $7,397 |
| The Leukemia & Lymphoma Society Inc Rye Brook, NY | Student Visionaries Campaign 2024 | $2,500 |
| Run Univeristy Bay Village, OH | Amy Mihaljevic Memorial 5k Run &1 mile walk | $2,000 |
| Younglife Harlan, IA | Gift for to Cleveland WestshoreOperating expenses | $500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $710,325 | $6,603 | $15,287 | $12,397 | 4 | $15,087 | $5,303 | $41,055 |
| 2023 | $719,009 | $5,562 | $271,313 | $268,875 | 5 | $271,113 | $5,362 | $36,393 |
| 2022 | $1,114,652 | $5,310 | $65,000 | $65,000 | 3 | $65,000 | $5,310 | $50,095 |
| 2021 | $1,174,342 | $1,108,968 | $40,660 | $40,050 | 11 | $40,050 | $846 | $62,961 |
Under IRS private-foundation payout rules, Karen's Way reported a distributable amount of $41K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Karen's Way is led by Mary Patricia Rhea, President since 2023 (on filings since 2021); none of the 5 officers listed in 2024 report compensation.
Officers on the 2024 filing
Mary Patricia Rhea
President
Secretary & Director → President, 2023
On filings since 2021
1 hr/week
No compensation reported
Charles N Norton
Treasurer & Director
On filings since 2021
0.3 hrs/week
No compensation reported
Jack N Rhea
Secretary
On filings since 2023
0.3 hrs/week
No compensation reported
Brooke N Rhea
Secretary
New on the 2024 filing
0.3 hrs/week
No compensation reported
Erica Omojuannfo
Member
New on the 2024 filing
0.3 hrs/week
No compensation reported
Former officers (2)
- Former: Alan Rhea (2021–2023) — Director
- Former: John Norton (2021–2022) — President
Data from IRS Form 990 filings, 2021–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Karen's Way
How much does Karen's Way give each year?
Karen's Way gave $12K across 4 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $269K across 5 grants.
What is Karen's Way's typical grant size?
Karen's Way's median grant in 2024 was $2,250, and its average grant was $3,099, across 4 grants on its 2024 IRS Form 990-PF.
Where does Karen's Way give grants?
Karen's Way gives mostly in Ohio: 76% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was New York (20%).
Does Karen's Way give general operating support?
Not in 2024: none of the 4 grants with a stated purpose on Karen's Way's 2024 IRS Form 990-PF were described as general or operating support.
How large is Karen's Way?
Karen's Way reported $710K in total assets on its 2024 IRS Form 990-PF. It paid out $15K in qualifying distributions that year, against a required minimum of $41K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is Karen's Way's EIN?
Karen's Way's EIN (Employer Identification Number) is 85-3807281. IRS Form 990 filing data is available on this page for 2021–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2024
Live grants for the work Karen's Way funds
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