Gurnani Foundation
- Assets
- $622.8k
- Revenue
- $243.0k
- Investments
- $603.1k
- Employees
- 0
- Location
- Secaucus, NJ
- Founding
- 09/2015
- Data as of
- 12/2022
- EIN
- 47-3319698
Organization Overview
Gurnani Foundation is located in Secaucus, NJ. The organization was established in 2015. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Gurnani 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, Gurnani Foundation generated $243.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 28.6% each year . All expenses for the organization totaled $269.3k during the year ending 12/2022. 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 Mission:
Part 3 - Line 1
ASSIST IN THE COMPLETION OF THE SADHU VASWANI HINDU CULTURAL CENTER AND TEMPLE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS FORMED TO RAISE MONEY TO FINANCIALLY ASSIST MEDICAL PATIENTS AND UNDERPRIVILEGED INDIVIDUALS.
PROGRAM CONSIST OF ASSISTANCE IN VARIOUS FIELDS FOR EDUCATION, MEDICAL, HUMANITARIAN, AND CONSERVATION.
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Veena Ashok Gurnani Director | 1 | $0 | |
Taraprasad Ashok Gurnani Director | 1 | $0 | |
Joel Paritz Treasurer | 1 | $0 | |
Ashok Gurnani President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $200,422 |
| Interest on Savings | $565 |
| Dividends & Interest | $47,925 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$5,889 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $243,023 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $21 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,260 |
| Total operating and administrative expenses | $4,281 |
| Contributions, gifts, grants paid | $265,000 |
| Total expenses and disbursements | $269,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,695 |
| 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 | $349,485 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $622,777 |
| 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, Gurnani Foundation has awarded $265,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SADHU VASWANI CENTER PURPOSE: COMMUNITY OUTREACH | $255,000 |
VED MANDIR INC PURPOSE: COMMUNITY OUTREACH | $5,000 |
SANKARA EYE FOUNDATION PURPOSE: COMMUNITY OUTREACH | $5,000 |