Vedant P Patel Foundation Inc
- Assets
- $1.3m
- Revenue
- $89.9k
- Investments
- $1.3m
- Employees
- 0
- Location
- Singer Island, FL
- Founding
- 11/2008
- Data as of
- 12/2022
- EIN
- 26-2834984
Organization Overview
Vedant P Patel Foundation Inc is located in Singer Island, FL. The organization was established in 2008. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Vedant P Patel 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 12/2022, Vedant P Patel Foundation Inc generated $89.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 59.9% each year . All expenses for the organization totaled $100.5k during the year ending 12/2022. While expenses have increased by 6.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Vedant P Patel Foundation Inc has awarded 93 individual grants totaling $901,458. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paresh Patel Trustee | 0.5 | $0 | |
Prashant Patel Trustee | 0.5 | $0 | |
Mikhil Patel Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $18,406 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $71,454 |
| Capital Gain Net Income | $71,454 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $89,860 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,881 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $19,455 |
| Contributions, gifts, grants paid | $81,063 |
| Total expenses and disbursements | $100,518 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,670 |
| 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 | $48,793 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,336,771 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $69,063 |
| 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 | $69,063 |
Grants Awarded
Over the last fiscal year, Vedant P Patel Foundation Inc has awarded $163,446 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
SANKARA EYE FOUNDATION PURPOSE: GRANT FOR EYE SURGERIES IN INDIA | $10,000 |
BAPS PURPOSE: CONSTRUCTION OF A RELIGIOUS CENTERROBBINSVILLE NJ | $37,001 |
COMMUNITY FOOD BANK OF NEW JERSEY PURPOSE: FOOD BANK | $15,000 |
COVENANT HOUSE OF NEW JERSEY PURPOSE: CARING FOR HOMELESS ADOLESCENTS | $20,000 |
LOGGERHEAD MARINELIFE CENTER INC PURPOSE: CONSERVATION OF OCEAN ECOSYSTEMS | $2,382 |
FOOD BANK OF SOUTHERN TIER PURPOSE: FOOD BANK | $10,000 |