Prema Foundation
- Assets
- $3.0m
- Revenue
- $74.1k
- Investments
- $2.9m
- Employees
- 0
- Location
- Sugar Land, TX
- Founding
- 10/2004
- Data as of
- 12/2022
- EIN
- 20-0670206
Organization Overview
Prema Foundation is located in Sugar Land, TX. The organization was established in 2004. According to its NTEE Classification (T30) the organization is classified as: Public 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. Prema 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 12/2022, Prema Foundation generated $74.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.1%) each year. All expenses for the organization totaled $21.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (20.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Prema Foundation has awarded 26 individual grants totaling $841,516. 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
SRI SATHYA SAI CHARITABLE TRUST ASSISTANCE TO THE UNDERPRIVELEGED
SRI SATYA SAI INSTITUTE OF HIGHER LEARNING ASSISTANCE TO THE UNDERPRIVELEGED
UNITY CLINIC OF TEXAS ASSISTANCE TO THE UNDERPRIVELEGED
AKSHAYA PATRA ASSISTANCE TO THE UNDERPRIVELEGED
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Imtiaz Munshi Director | 0.1 | $0 | |
Vimal Kothari Director | 5 | $0 | |
Hansa Kothari Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,672 |
| Interest on Savings | $29 |
| Dividends & Interest | $70,424 |
| 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 | $74,125 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,352 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,368 |
| Total operating and administrative expenses | $13,720 |
| Contributions, gifts, grants paid | $7,915 |
| Total expenses and disbursements | $21,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,545 |
| Savings and temporary cash investments | $216 |
| 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 | $2,785,259 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,961,070 |
| 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, Prema Foundation has awarded $7,915 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
UNITY CLINIC OF TEXAS PURPOSE: FUND THEIRCHARITABLE ACTIVITIES | $0 |
AKSHAYA PATRA PURPOSE: FUND THEIRCHARITABLE ACTIVITIES | $5,000 |
SRI SATHYA SAI CHARITABLE TRUST PURPOSE: FUND THEIRCHARITABLE ACTIVITIES | $0 |
SRI SATYA SAI INSTITUTE OF HIGHER LEARNING PURPOSE: FUND THEIRCHARITABLE ACTIVITIES | $2,915 |