Reddy Foundation
- Assets
- $2.3m
- Revenue
- $93.3k
- Investments
- $954.5k
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 07/2009
- Data as of
- 12/2021
- EIN
- 26-4279465
Organization Overview
Reddy Foundation is located in Minneapolis, MN. The organization was established in 2009. 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. Reddy 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 12/2021, Reddy Foundation generated $93.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $55.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Madhu Reddy President | 15 | $0 | |
Jyothsna Reddy Treasurer | 15 | $0 | |
Deepak Reddy Secretary | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $46,139 |
| Dividends & Interest | $9,335 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $25,699 |
| Capital Gain Net Income | $25,699 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $12,077 |
| Total Revenue | $93,250 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,742 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,627 |
| Total operating and administrative expenses | $10,869 |
| Contributions, gifts, grants paid | $44,397 |
| Total expenses and disbursements | $55,266 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,650 |
| Savings and temporary cash investments | $1,714 |
| 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 | $1,275,388 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $954,547 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,324,299 |
| 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, Reddy Foundation has awarded $56,024 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
JET USA PURPOSE: DONATION | $25,000 |
Edina, MN PURPOSE: OPERATING | $24,757 |
SRUTHI LAYA FOUNDATION PURPOSE: DONATION | $4,000 |
San Jose, CA PURPOSE: DONATION | $2,116 |
PRAIRIE OAK COMMUNITY CHURCH PURPOSE: DONATION | $151 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles E Lakin Foundation Inc Council Bluffs, IA | $146,415,136 | $18,758,116 |
David And Janis Larson Foundation Minneapolis, MN | $131,263,001 | -$404,078 |
The Jennings Family Foundation Edina, MN | $20,317,059 | $4,027,228 |
Kaena Foundation Minneapolis, MN | $0 | $2,288,902 |
Melitta S And Joan M Pick Charitable Trust Milwaukee, WI | $69,688,567 | $15,533,257 |
K A H R Foundation Minnetrista, MN | $0 | $2,779,843 |
The Mortenson Family Foundation Minneapolis, MN | $135,941,290 | $34,670,895 |
Northeast Entrepreneur Fund Inc Duluth, MN | $61,578,010 | $11,454,205 |
Easter Foundation Inc De Pere, WI | $48,221,315 | $14,319,286 |
John Ruan Foundation Trust Urbandale, IA | $110,876,833 | $7,230,015 |
Wem 2000 Foundation Minneapolis, MN | $94,111,129 | $6,290,419 |
Ashley Charitable Foundation Ltd Arcadia, WI | $13,824,381 | $199,581 |