Desai Foundation
- Assets
- $1.5m
- Revenue
- $33.8k
- Investments
- $1.4m
- Employees
- 0
- Location
- Farmington Hills, MI
- Founding
- 03/2007
- Data as of
- 12/2022
- EIN
- 20-5845478
Organization Overview
Desai Foundation is located in Farmington Hills, MI. The organization was established in 2007. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. 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 12/2022, Desai Foundation generated $33.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (17.5%) each year. All expenses for the organization totaled $75.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Desai Foundation has awarded 90 individual grants totaling $477,823. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarojini H Desai President | 1 | $0 | |
Harshad N Desai Vice-President | 1 | $0 | |
Sarojini H Desai Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $72 |
| Dividends & Interest | $33,704 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $23,931 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $33,776 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $723 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,150 |
| Printing and publications | $389 |
| Other expenses | $20 |
| Total operating and administrative expenses | $19,717 |
| Contributions, gifts, grants paid | $55,891 |
| Total expenses and disbursements | $75,608 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,183 |
| Savings and temporary cash investments | $0 |
| 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 | $1,464,557 |
| 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, Desai Foundation has awarded $55,891 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
DIVINE SHAKTI FOUNDATION PURPOSE: CHARITY | $41,000 |
ISKCON OF MICHIGAN PURPOSE: CHARITY | $11,000 |
ISKCON OF HOUSTON PURPOSE: CHARITY | $1,001 |
NAVKAR CENTER PURPOSE: CHARITY | $1,001 |
BHARTIYA TEMPLE TROY PURPOSE: CHARITY | $250 |
HAVELI VAISHNAV SAMAS PURPOSE: CHARITY | $290 |