Polavarapu Family Foundation Inc
- Assets
- $805.0k
- Revenue
- $258.6k
- Investments
- $528.2k
- Employees
- 0
- Location
- Jericho, NY
- Founding
- 02/1999
- Data as of
- 12/2023
- EIN
- 11-3462429
Organization Overview
Polavarapu Family Foundation Inc is located in Jericho, NY. The organization was established in 1999. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Polavarapu Family Foundation Inc 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 12/2023, Polavarapu Family Foundation Inc generated $258.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $224.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Polavarapu Family Foundation Inc has awarded 41 individual grants totaling $728,875. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING EDUCATIONAL ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Polavarapu Raghavarao Pres | 100 | $0 | |
Polavarapu Satya V Pres | 100 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $256,817 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,740 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $110,136 |
| Net ST Capital Gain | $151,781 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $258,557 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $12,489 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $24,894 |
| Contributions, gifts, grants paid | $199,445 |
| Total expenses and disbursements | $224,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $276,847 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $805,015 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,381 |
| Total liabilities | $2,381 |
Grants Awarded
Over the last fiscal year, Polavarapu Family Foundation Inc has awarded $199,445 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
TLCA PURPOSE: CHARITABLE | $9,227 |
JET USA PURPOSE: CHARITABLE | $0 |
KARUMANCHI RATTAMMA EDUCATIONAL SOCIETY PURPOSE: EDUCATIONAL | $182,000 |
KARUMANCHI EDUCATIONAL TRUST PURPOSE: CHARITABLE | $0 |
CONNECTICUT VALLEY HINDU TEMPLE SOCIETY PURPOSE: CHARITABLE | $0 |
SMILE TRAIN PURPOSE: CHARITABLE | $0 |