Kaival Gyan Chicago Foundation
- Assets
- $3.8m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Carol Stream, IL
- Founding
- 11/2002
- Data as of
- 12/2022
- EIN
- 36-4460548
Organization Overview
Kaival Gyan Chicago Foundation is located in Carol Stream, IL. The organization was established in 2002. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Kaival Gyan Chicago 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, Kaival Gyan Chicago Foundation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 24.5% each year . All expenses for the organization totaled $717.4k during the year ending 12/2022. While expenses have increased by 12.5% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS FOR MEDICAL SERVICES PROVIDED FOR THE POOR.
SPECIAL CELEBRATORY RELIGIOUS SERVICES PROVIDED FOR KAIVAL SATSANGIS (DEVOTEES) OF THE HINDU FAITH IN CHICAGO, IL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ravjibhai M Patel President | 5 | $0 | |
Vijay K Patel Secretary | 5 | $0 | |
Natubhai M Patel Director | 5 | $0 | |
Mayur R Patel Director | 5 | $0 | |
Kanubhai S Patel Director | 5 | $0 | |
Ashwin C Patel Treasurer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,414,768 |
| Interest on Savings | $52 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,414,820 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $26,400 |
| Pension plans, employee benefits | $2,091 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $74,155 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $181,184 |
| Total operating and administrative expenses | $288,385 |
| Contributions, gifts, grants paid | $429,000 |
| Total expenses and disbursements | $717,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $508,994 |
| Savings and temporary cash investments | $1,250,503 |
| 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 | $2,063,272 |
| Other assets | $0 |
| Total assets | $3,822,769 |
| 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 | $1,348 |
| Total liabilities | $1,348 |
Grants Awarded
Over the last fiscal year, Kaival Gyan Chicago Foundation has awarded $377,332 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SAT KAIVAL EYE HOSPITAL PURPOSE: CHARITY MEDICAL SERVICES | $115,000 |
CONTRIBUTIONS PAID PURPOSE: EDUCATION | $262,332 |