Karamu House Inc

Nonprofit profile at a glance

EIN
340714448
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Cleveland, OH, USA
Phone
2167957070
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Organizations

Official website

Reported finances

Revenue
$2,889,020
Expenses
$2,705,667
Assets
$9,853,419
Liabilities
$331,923

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

Leadership & pay

19 people listed

Executive titles in this filing

  • TONY SIAS (PRESIDENT & CEO)

Highest reported compensation

  • TONY SIAS (PRESIDENT & CEO): $200,000 total reported compensation
  • ASEELAH SHAREEF (VP & COO): $125,000 total reported compensation
  • DAVID OWENS (CFO): $36,458 total reported compensation

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

Overview

Mission

To produce professional theatre, provide arts education and present community programs for all people while honoring the black experience

What it reported doing in 2024

Youth and adult arts education - see schedule o

Operating model

Revenue model
Donor-supported. 63% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.1%; rating input score 60
  • Program expense ratio: 64.1%; rating input score 64
  • Fundraising efficiency: $11.8 raised per $1 spent on fundraising; rating input score 43; 43rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 6.3%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 3.64; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 13.4%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 16.6% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 60.1% of revenue deployed · 64.1% of spending went to programs
  • Governance: 16 of 16 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $1.7M in reported program spending
  • Leadership: top reported pay $200K · 19 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 43/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 22/100.