Deshpande Foundation Inc
- Assets
- $15.2m
- Revenue
- $113.6k
- Investments
- $7.0m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 11/2007
- Data as of
- 06/2021
- EIN
- 20-8520739
Organization Overview
Deshpande Foundation Inc is located in Boston, MA. The organization was established in 2007. 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. Deshpande Foundation Inc 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 06/2021, Deshpande Foundation Inc generated $113.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (36.3%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Deshpande Foundation Inc has awarded 24 individual grants totaling $3,532,100. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE DESHPANDE FOUNDATION ENCOURAGES THE USE OF ENTREPRENEURSHIP AND INNOVATION AS CATALYSTS FOR SOCIETAL CHANGE AND IMPROVED QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UTILIZING GRANT-MAKING TO PROMOTE GEOGRAPHICALLY-RELEVANT PROCESS, TECHNOLOGICAL AND SOCIAL INNOVATION AND ENTREPRENEURSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul S Grogan Clerk & Director | OfficerTrustee | 1 | $0 |
Gururaj Deshpande President & Director | OfficerTrustee | 5 | $0 |
Kate R Guedj Treasurer & Director | OfficerTrustee | 1 | $0 |
Serge Bhachu Chief Financial Officer | Officer | 1 | $0 |
Hemang Dave Director | Trustee | 1 | $0 |
Jaishree Deshpande Director | Trustee | 5 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $112,567 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,059 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $113,626 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $822,100 |
| 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 | $282,193 |
| Pension plan accruals and contributions | $8,229 |
| Other employee benefits | $47,527 |
| Payroll taxes | $20,906 |
| Fees for services: Management | $50,834 |
| 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 | $37,560 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,273 |
| Information technology | $1,450 |
| 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 | $2,038 |
| All other expenses | $0 |
| Total functional expenses | $1,331,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $8,190,740 |
| Investments—other securities | $7,004,271 |
| Investments—program-related | $50,000 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,245,011 |
| Accounts payable and accrued expenses | $1,757 |
| 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 | $1,757 |
| Net assets without donor restrictions | $15,243,254 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $15,245,011 |
Grants Awarded
Over the last fiscal year, Deshpande Foundation Inc has awarded $822,100 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Lowell, MA PURPOSE: For general operating support. | $500,000 |
Boston, MA PURPOSE: For general operating support. | $322,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Eastern Bank Charitable Foundation Lynn, MA | $286,575,476 | $18,352,628 |
G Harold And Leila Mathers Charitable Foundation Rye Brook, NY | $96,045,942 | $16,941,265 |
Elms Foundation Providence, RI | $0 | -$22,907 |
Thomas L Kempner Jr Foundation Inc Southampton, NY | $328,355,645 | $44,754,721 |