Lachimi Foundation
- Assets
- $18.1m
- Revenue
- $4.3m
- Investments
- $17.2m
- Employees
- 0
- Location
- Troy, MI
- Founding
- 12/1999
- Data as of
- 12/2021
- EIN
- 38-3429963
Organization Overview
Lachimi Foundation is located in Troy, MI. The organization was established in 1999. 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. Lachimi 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, Lachimi Foundation generated $4.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $4.1m during the year ending 12/2021. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAHAJ MARG SPIRITUALITY FOUNDATION - RELIGIOUS, SPIRITUAL & EDUCATIONAL ACTIVITIES
WALSH COLLEGE - EDUCATIONAL
SHRI RAM CHANDRA MISSION RELIGIOUS, SPIRITUAL & EDUCATIONAL ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teja Reddy Director | 1 | $0 | |
Madhava G Reddy President | 2 | $0 | |
Sobha Reddy Director | 1 | $0 | |
Keshav Reddy Director | 1 | $0 | |
Adarsh Reddy Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,533,429 |
| Interest on Savings | $25,620 |
| Dividends & Interest | $596,715 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,141,038 |
| Capital Gain Net Income | $2,141,038 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,296,802 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $16,106 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $85,194 |
| Total operating and administrative expenses | $101,300 |
| Contributions, gifts, grants paid | $4,000,000 |
| Total expenses and disbursements | $4,101,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $947,533 |
| 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 | $17,198,315 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $18,145,848 |
| 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, Lachimi Foundation has awarded $5,010,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SAHAJ MARG SPIRITUALITY FOUNDATION PURPOSE: RELIGIOUS, SPIRITUAL, CULTURAL & EDUCATIONAL | $5,000,000 |
WALSH COLLEGE PURPOSE: EDUCATIONAL | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |
Carol Ann And Ralph V Haile Jr Foundation Cincinnati, OH | $318,390,176 | $10,905,260 |
Mathile Family Foundation Dayton, OH | $0 | $5,909,915 |
Fund For Wisconsin Scholars Inc Madison, WI | $273,321,225 | $22,010,196 |
John W Anderson Foundation Valparaiso, IN | $342,409,938 | $34,395,256 |
Gilbert Fam Foundation Detroit, MI | $16,505,480 | $22,733,689 |
Herbert Simon Family Foundation Indianapolis, IN | $26,075,189 | $9,696,254 |
Richard And Helen Devos Foundation Grand Rapids, MI | $31,037 | $11,215,000 |
Huntington Foundation Columbus, OH | $456,967 | $10,970,786 |
Lewis W Hyer Trust 098310c Milwaukee, WI | $167,937,358 | $18,090,828 |
Franciscan Health Foundation Inc Mishawaka, IN | $46,155,507 | $9,741,999 |
Asante Foundation Inc South Bend, IN | $170,490,031 | $16,382,298 |