Reddy Foundation
- Assets
- $4.6m
- Revenue
- $182.4k
- Investments
- $3.0m
- Employees
- 0
- Location
- Summit, NJ
- Founding
- 08/1997
- Data as of
- 02/2022
- EIN
- 13-3943919
Organization Overview
Reddy Foundation is located in Summit, NJ. The organization was established in 1997. 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. Reddy 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 02/2022, Reddy Foundation generated $182.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (23.8%) each year. All expenses for the organization totaled $592.5k during the year ending 02/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Reddy Foundation has awarded 14 individual grants totaling $578,020. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLEASE NOTE, THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES. ITS PRIMARY PURPOSE IS TO SUPPORT, BY CONTRIBUTIONS, OTHER ORGANIZATIONS EXEMPT UNDER INTERNAL
REVENUE CODE SECTION 501(C)(3).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Girish V Reddy Trustee/part-Time | 0 | $0 | |
Rasika G Reddy Trustee/part-Time | 0 | $0 | |
Srinidhi G Reddy Co-Trustee | 0 | $0 | |
Jaidev G Reddy Co-Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $500 |
| Dividends & Interest | $181,899 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $182,399 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $14,500 |
| Contributions, gifts, grants paid | $578,020 |
| Total expenses and disbursements | $592,520 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,627,907 |
| 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 | $4,596,657 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Reddy Foundation has awarded $578,020 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
DHARMA FUND PURPOSE: GENERAL PURPOSE | $241,520 |
Cupertino, CA PURPOSE: GENERAL PURPOSE | $100,000 |
Bridgewater, NJ PURPOSE: GENERAL PURPOSE | $51,000 |
New York, NY PURPOSE: GENERAL PURPOSE | $50,000 |
PRATHAM USA PURPOSE: GENERAL PURPOSE | $50,000 |
Ithaca, NY PURPOSE: GENERAL PURPOSE | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |
Big East Conference Inc New York, NY | $25,429,264 | $59,716,596 |
Bristol-Myers Squibb Foundation Inc New York, NY | $146,629,708 | $46,784 |