Karuna Foundation

Foundation · Grantmaker PORTLAND, OR EIN: 27-2831197

Karuna Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in PORTLAND, OR. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $18.6M in total assets. In 2024, it awarded 11 grants totaling $711K. Net investment income was $898K.

Key facts about Karuna Foundation

EIN: 27-2831197
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $710,815
Grants made (2024): 11
Average grant: $64,620
Median grant: $42,337
Total assets: $18,624,945
Primary geography: New York (38% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated April 2026.

Who Karuna Foundation funds

By grant dollars, the top recipient states for Karuna Foundation's 11 itemized 2024 grants were New York (38%), District of Columbia (25%) and Vermont (14%). The most frequent recipient cities were Washington, DC (4 grants) and New York, NY (2 grants). 27% of grants with a stated purpose were for general or operating support.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$18.6M

+2.8% YoY

Annual Giving

$711K

-14.3% YoY

Grant Count

+57.1% YoY

Avg Grant Size

$65K

-45.5% YoY

Under IRS private-foundation payout rules, Karuna Foundation reported a distributable amount of $906K for 2024 — the minimum it must pay out in qualifying distributions.

About Karuna Foundation

Based on IRS filings

Focus Areas

Philanthropy, Voluntarism & Grantmaking

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

District of Columbia $1.9M (66%)

New York $757K (27%)

Vermont $130K (5%)

Oregon $57K (2%)

Virginia $10K (0%)

States

District of Columbia New York Oregon Virginia Vermont

Cities

WashingtonNew YorkPawletPortlandMerrifield

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$18,624,945	$18,119,973	$17,001,832
Revenue	$1,075,242	$112,712	$-36,218
Expenses	$1,155,405	$1,413,352	$1,200,611
Qualifying Distributions	$967,956	$1,236,886	$951,216
Net Investment Income	$898,216	$123,594	$114,655
Distributable Amount	$905,508	$857,940	$906,193

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 6 recipients in 2024

Grant Size Distribution

40 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include Jsw Bhutan Legal Education Foundation ($270,089 across 2 grants), Bhutan Foundation ($175,000 across 4 grants), International Cryosphere Climate Initiative ($100,000).

Recipient	Purpose	Amount
JSW BHUTAN LEGAL EDUCATION FOUNDATION NEW YORK, NY	SUPPORT FOR CLIMATE CHANGE INSTITUTE AT JSW SCHOOL OF LAW	$265,089
INTERNATIONAL CRYOSPHERE CLIMATE INITIATIVE PAWLET, VT	GENERAL OPERATING SUPPORT	$100,000
BHUTAN FOUNDATION WASHINGTON, DC	GENERAL OPERATING SUPPORT	$75,000
JIGME SINGYE WANGCHUCK SCHOOL OF LAW	LAW LIBRARY MAINTENANCE PROGRAM	$75,000
BHUTAN FOUNDATION WASHINGTON, DC	GENERAL OPERATING FUNDS BHUTAN ECOLOGICAL SOCIETY	$54,000
LEWIS & CLARK LAW SCHOOL PORTLAND, OR	EDUCATIONAL SCHOLARSHIPS	$42,337
TARAYANA FOUNDATION	SUPPORT FOR HOUSING PROGRAM	$38,811
BHUTAN FOUNDATION WASHINGTON, DC	SMALL GRANTS PROGRAM	$25,000
BHUTAN FOUNDATION WASHINGTON, DC	BHUTAN ECOLOGICAL SOCIETY GROUNDWATER MEETINGS	$21,000
JIGME SINGYE WANGCHUCK SCHOOL OF LAW	DONATION OF KIA QL-SPORTAGE VEHICLE ON 10/27/24. VEHICLE WAS FULLY DEPRECIATED AS OF 12/31/22. FMV OF THE VEHICLE AT 10/18/24 WAS $9,578, PER KELLEY BLUE BOOK.	$9,578

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
LINDSAY SKOG	EXECUTIVE DIRECTOR	40	$140,000
ERIC LEMELSON	PRESIDENT	4	—
TOM NOVICK	SECRETARY	2	—
JENNIFER BRUML	DIRECTOR	1	—
LISA DANZIG	DIRECTOR	1	—
BRAD HARRISON	DIRECTOR	1	—
JEREMIAH LEMELSON	DIRECTOR	1	—
PATRICK MALONEY	DIRECTOR	1	—
JULIA NOVY	DIRECTOR	1	—
HOLLY PRUETT	DIRECTOR	1	—
JO ANNE WELSCH	DIRECTOR	1	—
AMY WONG	DIRECTOR	1	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What is Karuna Foundation?

Karuna Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in PORTLAND, OR. It holds $18.6M in total assets as of 2024.

How large is Karuna Foundation?

As of 2024, Karuna Foundation holds $18.6M in total assets with $1.1M in annual revenue. It awarded 11 grants totaling $711K in 2024.

Where does Karuna Foundation operate?

Karuna Foundation has awarded grants in District of Columbia, New York, Oregon, Virginia, Vermont.

What size grants does Karuna Foundation award?

In 2024, Karuna Foundation awarded 11 grants totaling $711K — an average of about $65K per grant, based on its IRS Form 990 filings.

How much is Karuna Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Karuna Foundation reported a distributable amount of $906K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.