Financial Responsibility
Karamu is a Internal Revenue Service (IRS) approved charitable organization under section 501 (c)(3) of the internal revenue code. At Karamu, we take our responsibilities as a non-profit corporation very seriously. We know we have been entrusted with tax payer generated funds and we pride ourselves on being good stewards of those funds.
GOVERNING BODY
Karamu has an all volunteer board of directors that meets regularly throughout the year to exercise their fiduciary responsibilities of good faith, loyalty, and care.
CONFLICT OF INTEREST POLICY
Karamu's conflict of interest policy is designed to protect Karamu's interest (and the public trust) when it is contemplating entering into a transaction that might benefit the private interest of an officer or director of the organization or might result in a possible excess benefit transaction. Board members and officers are required to sign the conflict of interest statement annually. Click here for a copy of our conflict of interest policy.
FINANCIAL OVERSIGHT
Our internal controls are audited annually by an independent auditor in accordance with federal guidelines. Per those guidelines, Karamu's financial records are available for public review. You can view our latest IRS form 990 by visiting www.guidestar.org. Annual independent audit reports can be viewed by visiting the Tennessee State Comptroller's website at http://www.comptroller.tn.gov.