Vishal Raju Bhagat Foundation
- Assets
- $1.3m
- Revenue
- $515.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Rockport, TX
- Founding
- 04/2008
- Data as of
- 12/2022
- EIN
- 20-5847609
Organization Overview
Vishal Raju Bhagat Foundation is located in Rockport, TX. The organization was established in 2008. According to its NTEE Classification (A57) the organization is classified as: Science & Technology Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vishal Raju Bhagat 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, Vishal Raju Bhagat Foundation generated $515.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $138.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Vishal Raju Bhagat Foundation has awarded 45 individual grants totaling $748,750. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RAISE FUNDS FOR DIEBETIES RESEARCH & NON PROFIT ENTITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL DRIVE AND GOLF TOURNAMENT TO RAISE FUNDS FOR DIEBETIES RESEARCH AND OTHER NON FOR PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raju Bhagat President | OfficerTrustee | 2.5 | $0 |
Mahavir Bhakta Secretary | OfficerTrustee | 3.75 | $0 |
Daryl Genzer Treasurer | OfficerTrustee | 3.75 | $0 |
Damon Solle 2md V President | OfficerTrustee | 1.25 | $0 |
Anant Bhakta 1st V President | OfficerTrustee | 1.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $644,148 |
| Noncash contributions included in lines 1a–1f | $240,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $644,148 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$129,044 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $515,104 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $136,301 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $528 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,865 |
| Total functional expenses | $138,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,018,261 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $240,000 |
| Total assets | $1,258,261 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,258,261 |
| Total liabilities and net assets/fund balances | $1,258,261 |
Grants Awarded
Over the last fiscal year, Vishal Raju Bhagat Foundation has awarded $85,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
JUVENILE DIABETES RESEARCH FOUNDATION PURPOSE: RESEARCH | $10,000 |
SPOHN HOSPITAL FOUNDATION PURPOSE: GENERAL SUPPORT | $10,000 |
AMERICAN HEART ASSOC PURPOSE: GENERAL SUPPORT | $9,000 |
SHREE RAMKABIR BHAKTA SAMAJ PURPOSE: GENERAL SUPPORT | $16,000 |
SUGAR FREE ATHLETIC FOUNDATION PURPOSE: GENERAL SUPPORT | $15,000 |
THE MIRACLE FOUNDATION PURPOSE: GENERAL SUPPORT | $25,000 |