Desai Foundation
- Assets
- $5.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 5
- Location
- Walpole, MA
- Founding
- 10/1998
- Data as of
- 06/2021
- EIN
- 04-3433749
Organization Overview
Desai Foundation is located in Walpole, MA. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2021, Desai Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Desai Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Desai Foundation generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 57.3% each year . All expenses for the organization totaled $944.9k during the year ending 06/2021. While expenses have increased by 26.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Desai Foundation has awarded 52 individual grants totaling $318,435. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE DESAI FOUNDATION SEEKS TO IMPROVE SOCIAL AND ECONOMIC LIFE IN THE VILLAGES OF INDIA AND TO DEVELOP AND IMPLEMENT EDUCATIONAL PROGRAMS TO PROMOTE INDIAN CULTURE AND HERITAGE IN THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DESAI FOUNDATION PROVIDES SUPPORT FOR SOCIAL AND ECONOMIC LIFE IN VILLAGES OF INDIA AND DEVELOPS AND IMPLEMENTS EDUCATIONAL PROGRAMS TO PROMOTE INDIAN CULTURE AND HERITAGE IN THE UNITED STATES.
COVID-19 RELIEF
COLUMBIA UNIVERSITY COMMUNITY IMPACT AND OTHER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samir Desai Trustee | OfficerTrustee | 20 | $0 |
Nilima Desai Trustee | Trustee | 1 | $0 |
Moha Desai Trustee | Trustee | 2 | $0 |
Megha Desai President | OfficerTrustee | 40 | $0 |
Santhana Krishnan Director | Trustee | 1 | $0 |
Yash Shah Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $867,817 |
| Investment income | $83,549 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $555,678 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,507,044 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $135,545 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $27,787 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,275 |
| Fees for services: Other | $360,489 |
| Advertising and promotion | $1,944 |
| Office expenses | $1,674 |
| Information technology | $26,345 |
| Royalties | $0 |
| Occupancy | $23,054 |
| Travel | $3,489 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $944,929 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $215,825 |
| Pledges and grants receivable | $53,083 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $49,148 |
| Investments—publicly traded securities | $5,239,281 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,911 |
| Total assets | $5,565,248 |
| Accounts payable and accrued expenses | $15,675 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $53,400 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,453 |
| Total liabilities | $89,528 |
| Net assets without donor restrictions | $5,475,720 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $5,475,720 |
Grants Awarded
Over the last fiscal year, Desai Foundation has awarded $73,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ABOUT FRESH INC PURPOSE: COVID-19 RELIEF | $20,000 |
COMMUNITY IMPACT AT COLUMBIA PURPOSE: GENERAL SUPPORT | $8,000 |
FOOD BANK NY CITY PURPOSE: COVID-19 RELIEF | $20,000 |
LAHEY PHILANTHROPIC PURPOSE: HEALTH | $11,500 |
MIDDLESEX COMMUNITY COLLEGE PURPOSE: EDUCATION | $7,500 |
PEABODY ESSEX MUSEUM PURPOSE: GENERAL SUPPORT | $6,000 |