Friends of Karen Inc

Nonprofit profile at a glance

EIN
141612290
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
North Salem, NY, USA
Phone
9142774547
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Health, General and Financing

Official website

Reported finances

Revenue
$4,597,407
Expenses
$4,434,370
Assets
$5,808,249
Liabilities
$228,296

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

22 people listed

Executive titles in this filing

  • RICHARD SGAGLIO (PRESIDENT)
  • LAURA SALERNO-EVANS (VICE PRESIDENT)
  • JUDITH FACTOR (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JUDITH FACTOR (EXECUTIVE DIRECTOR): $203,739 total reported compensation
  • LESLIE BELLISSIMO (REGIONAL DIRECTOR, LI, METRO NYC): $136,060 total reported compensation
  • THERESA SORRENTINO (DIRECTOR, FINANCE & ADM): $133,257 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provides emotional, financial and advocacy support for children with life-threatening illnesses and their families, in order to help keep them stable, functioning, and able to cope.

What it reported doing in 2024

Family support program : in 2024 friends of karen provided psychosocial, financial and advocacy support for 1,163 children with cancer and other life-threatening illnesses, their siblings (438 ill children and 725 siblings), and their parents in 482 families, including bereaved families whose child succumbed to their illness. Children and their families are most often referred to friends of karen by social workers at 17 major hospitals in New York, New Jersey and Connecticut where children are treated in the pediatric oncology or transplant units. Friends of karen embraces the needs of the whole family which is affected deeply by the consequences of the child's devastating illness. (continued on schedule o)the organization's comprehensive services, including special assistance for siblings (one-on-one and group zoom sessions for about 181 children in 2024). All friends of karen services are provided at no cost to families and are delivered by licensed, skilled and experienced social workers, child life specialists and creative arts therapists. Friends of karen's program exemplifies the current standards of psychosocial care for children with cancer and other life-threatening illnesses and their families. In addition to providing emotional support and covering illness-related and basic living expenses for a family when there is a loss of income as a result of the child's illness, friends of karen's gift programs offers birthday and holiday gifts to ill children and their siblings, as well as school supplies. In 2024 friends of karen fulfilled the holiday wishes of 780 children, and distributed back-to-school backpacks and school supplies to 701 children, as well as birthday gifts to every ill child and their siblings. The organization provided funds for thanksgiving and holiday meals, and supermarket gift cards and emergency funds for food year-round to the neediest families. Through a special fund, friends of karen also provided gift cards to purchase clothing and shoes for ill children, their siblings and sometimes the parents whose resources are stretched to the limit due to loss of jobs or employment interruptions as a result of their child's illness.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77%; rating input score 77
  • Program expense ratio: 74.9%; rating input score 75
  • Fundraising efficiency: $7.07 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.5%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 1.31; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 13.7%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 0.7% per year; rating input score 100; 16th percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 13th percentile among comparable filings

Details

  • Where the money goes: 77% of revenue deployed · 74.9% of spending went to programs
  • Governance: 18 of 18 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.3M in reported program spending
  • Leadership: top reported pay $204K · 22 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 26/100.
  • Moderate — Sustainability: Operating margin scored 46/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.