The Asha And Sajjan Agarwal Foundation
- Assets
- $52.1m
- Revenue
- $19.8m
- Investments
- $46.2m
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 02/2008
- Data as of
- 12/2021
- EIN
- 42-1747195
Organization Overview
The Asha And Sajjan Agarwal Foundation is located in Raleigh, NC. The organization was established in 2008. 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. Asha And Sajjan Agarwal 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, Asha And Sajjan Agarwal Foundation generated $19.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 38.4% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 18.0% per year over the past 7 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, Asha And Sajjan Agarwal Foundation has awarded 85 individual grants totaling $5,853,250. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
DURING 2021, THE FOUNDATION STARTED A NEW DIRECT CHARITABLE ACTIVITY REFERRED TO AS THE AGARWAL SCHOLARS PROGRAM (THE "PROGRAM"). THE PROGRAM PROVIDES SUPPORT TO "AT RISK STUDENTS" (GRADES 6-12), TO ENSURE ALL STUDENTS ARE PROVIDED THE OPPORTUNITY TO A QUALITY EDUCATION, PREPARING THEM FOR POST-SECONDARY EDUCATION AND CAREERS. FOR EACH STUDENT IN THE PROGRAM, AN EDUCATIONAL PROFESSIONAL WILL ASSESS THE NEEDS, DIRECT RESOURCES AND BECOME THE ADVOCATE OF THE STUDENT WITH RECURRING INTERACTION, SUPPORT AND MENTORING THROUGHOUT THE ENTIRE GRANT PERIOD. THE FOUNDATION HIRED AN EDUCATION PROFESSIONAL WITH SPECIFIC EXPERTISE IN SERVING THE TARGET GROUP, DEVELOPED A STUDENT CARE MODEL, SET-UP MONITORING CONTROLS, DEVELOPED AN INDEPENDENT SELECTION PROCESS AND OBTAINED PREAPPROVAL FROM THE IRS. DURING 2021, THE FOUNDATION INCURRED COSTS IN SETTING UP AND ESTABLISHING THE PROGRAM BUT DID NOT START THE SELECTION PROCESS OR IMPLEMENT THE PROGRAM UNTIL LATE FEBRUARY 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linwood A Jackson Secretary/treasurer/dir | 1 | $0 | |
Rohit Agarwal Vp/director | 1 | $0 | |
Richa Deedwania Vp/director | 1 | $0 | |
Asha Rani Agarwal President/director | 1 | $0 | |
Ankit Agarwal Vp/director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $17,374,300 |
| Interest on Savings | $2,071 |
| Dividends & Interest | $416,582 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,859,538 |
| Capital Gain Net Income | $1,793,805 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $136,423 |
| Total Revenue | $19,788,914 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $38,272 |
| Pension plans, employee benefits | $3,693 |
| Interest | $0 |
| Taxes | $39,616 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $248,723 |
| Total operating and administrative expenses | $341,414 |
| Contributions, gifts, grants paid | $1,300,500 |
| Total expenses and disbursements | $1,641,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,879,623 |
| 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 | $20,531,335 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $52,064,258 |
| Accounts payable and accrued expenses | $765 |
| 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 | $765 |
Grants Awarded
Over the last fiscal year, The Asha And Sajjan Agarwal Foundation has awarded $1,300,500 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
San Francisco, CA PURPOSE: GENERAL SUPPORT | $525,000 |
Orlando, FL PURPOSE: SUSTENANCE FUNDS FOR THE REJUVENATION AND REVITALIZATION OF THE UNIVERSITY | $400,000 |
Houston, TX PURPOSE: EDUCATION IN INDIA | $100,000 |
HINDU AMERICAN FOUNDATION PURPOSE: EDUCATIONAL AND ADVOCACY ORGANIZATION | $75,000 |
HINDU SOCIETY OF NC PURPOSE: MEET RELIGIOUS, CULTURAL, LINGUISTIC AND SPIRITUAL NEEDS, PROMOTE INDIA'S RICH HERITAGE | $50,000 |
YMCA OF THE TRIANGLE PURPOSE: SUPPLEMENT LEARNING FOR STUDENTS WHO STRUGGLE TO REACH SCHOOL-SYSTEM BENCHMARKS | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
Drs Bruce & Lee Foundation Florence, SC | $254,078,574 | $12,559,871 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
Mary Reynolds Babcock Foundation Incorporated Winstonsalem, NC | $253,832,619 | $55,868,843 |
Edward C And Linda Dresner Levy Foundation Reston, VA | $6,482,787 | $4,609,179 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |