Reddy Foundation
- Assets
- $6.5m
- Revenue
- $417.6k
- Investments
- $2.9m
- Employees
- 0
- Location
- Summit, NJ
- Founding
- 08/1997
- Data as of
- 02/2024
- 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 02/2024, Reddy Foundation generated $417.6k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $1.3m during the year ending 02/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Reddy Foundation has awarded 34 individual grants totaling $2,600,066. 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
2024
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 | $0 |
| Dividends & Interest | $337,119 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $80,469 |
| Capital Gain Net Income | $80,469 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $417,588 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $35,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,547 |
| Total operating and administrative expenses | $42,547 |
| Contributions, gifts, grants paid | $1,271,089 |
| Total expenses and disbursements | $1,313,636 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,625,951 |
| 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 | $6,525,572 |
| 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 $1,271,089 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN INDIA FOUNDATION PURPOSE: GENERAL PURPOSE | $10,000 |
SOUTH ASIAN YOUTH ACTION PURPOSE: GENERAL PURPOSE | $35,000 |
DHARMA FUND PURPOSE: GENERAL PURPOSE | $768,089 |
GUGGENHEIM MUSEUM PURPOSE: GENERAL PURPOSE | $15,000 |
CENTRAL PARK CONSERVANCY PURPOSE: GENERAL PURPOSE | $5,000 |
TEACH FOR AMERICA PURPOSE: GENERAL PURPOSE | $5,000 |