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Financial Documents
| Entity | Document Type | Tax ID |
|---|---|---|
| Noah's Lost Ark | IRS Form 990 | 34-1934016 |
| Noah's Lost Ark | Audited Financial Statements | 34-1934016 |
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Entity: Noah's Lost Ark Document Type: IRS Form 990 Tax ID: 34-1934016 |
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Entity: Noah's Lost Ark Document Type: Audited Financial Statements Tax ID: 34-1934016 |
Governance & Transparency
Top Salaries
Unable to Provide Salaries
CharityWatch is unable to provide a range of Top Three Salaries for this charity for the above fiscal reporting year because we lack complete salary data for the organization. Except for officers, directors, and trustees, the IRS does not require breakouts of salaries totaling less than $100,000.
For example, XYZ charity would be required to provide a breakout in its tax form of compensation to its president of $55,000, but would not be required to provide a breakout of $99,000 in compensation to its top medical researcher if that person is not also an officer, director, or trustee of the organization.
This charity reports that compensation to its officers, directors, and trustees is under $100,000 per individual. Donors who would like to view limited salary data for this organization should refer to its tax form, which may be available on the charity's web site or from a number of third-party sources. See CharityWatch's Links page for information on obtaining copies of charity tax forms.
Analysts' Notes
According to the Noah's Lost Ark audit of December 31, 2021 (Note E, Related Party Transactions): "The Organization rents property from one of the Organization's board members. The land and buildings on the property are used to house animals, to store equipment and supplies used in operations, and include a permanent residence for one of the board's directors. All maintenance, requires, taxes, etc. associated with the ownership of the land and buildings is paid by Noah's Lost Ark, Inc. Prior to 2021, this rent was on a year-to year basis without a formal lease. "In January of 2015, a formal property lease agreement was signed between Noah's Lost Ark, Inc. and the director of the Organization. The initial term is five years with three renewal options. Basic rental is $18,000 per year, payable in monthly installments of $1,500. Rent expense, which includes some outside storage, for the years ending December 31, 2021 and 2020 was $18,000 and $18,946 respectively." [Note: According to the Noah's Lost Ark 2021 tax filing, Ellen Karnofel, President, is the board member from which the organization rents the property noted above (IRS Form 990, Schedule L, Part IV).] |
According to the Noah's Lost Ark 2021 tax filing, Noah's Lost Ark reports re: the existence of a family or business relationship among officers, directors, trustees, or key employees (IRS Form 990, Schedule O re: Part VI, line 2): "Two board members are aunt and niece." Noah's Lost Ark reports having three board members in 2021, including Ellen Karnofel, President, and Kara Karnofel, Trustee. Ellen Karnofel is also reported as the only officer of the organization (IRS Form 990, Part VII, Section A). |
According to the Noah's Lost Ark audit of December 31, 2021 (Note I, COVID 19 Pandemic): "As a result of the COVID-19 Pandemic, the Organization was forced to discontinue some operations during 2021. The Organization was unable to open its doors to the public for viewing the animals, and therefore did not have any program service revenue during the year. The Organization was able to reopen to the general public beginning in May of 2021. "The refundable advance in 2021 and 2020 consists of Paycheck Protection Program (PPP) funds provided under the CARES [Coronavirus Aid, Relief, and Economic Security] Act to assist small businesses during [the] global pandemic. These funds are expected to be forgiven during the upcoming year, and are therefore recorded as a liability until such time as the forgiveness occurs, at which time they will be recognized as income." [Note: The "Refundable Advance" reported under Current Liabilities on the Noah's Lost Ark audited Statement of Financial Position at December 31, 2021 is in the amount of $125,000.] |