India Cultural And Education Center Inc
- Assets
- $6.5m
- Revenue
- $242.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Gainesville, FL
- Founding
- 07/1992
- Data as of
- 12/2021
- EIN
- 59-3112858
Organization Overview
India Cultural And Education Center Inc is located in Gainesville, FL. The organization was established in 1992. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. India Cultural And Education Center Inc 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, India Cultural And Education Center Inc generated $242.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $40.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
INDIA CULTURAL AND EDUCATION CENTER (ICEC) WAS FORMED TO SUPPORT STUDENTS COMING TO THE UNITED STATES FOR GRADUATE STUDIES, TO ENHANCE THE UNDERSTANDING OF INDIAN CULTURE AND VALUES TO CHILDREN BORN TO INDIAN IMMIGRANTS, AND TO BRING EVENTS CELEBRATING INDIAN CULTURE, CUISINE AND ARTS TO THE LOCAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HOLDS SEVERAL CULTURAL EVENTS THROUGHOUT THE YEAR. IN MARCH OR APRIL, WE HOLD INDIA FEST IN GAINESVILLE, FL TO HIGHLIGHT INDIAN CULTURE AND FOOD FOR THE COMMUNITY. THIS EVENT INVOLVES THE YOUTH GROUP, COLLEGE STUDENTS AND FAMILIES IN THE GAINESVILLE AND SURROUNDING COMMUNITIES. THE YOUTH GROUP PLANS A CULTURAL SHOW TO CELEBRATE INDIA'S REPUBLIC DAY IN JANUARY AND INDEPENDENCE DAY IN AUGUST EVERY YEAR. IN NOVEMBER, THERE IS A CELEBRATION OF FESTIVALS WHICH CELEBRATES FESTIVALS OF ALL RELIGIONS IN INDIA. IN ADDITION TO EVENTS, MEMBERS OF ICEC WHO ARE IN THE MEDICAL PROFESSION, HOLD A FREE YEARLY HEALTH FAIR. DURING THE HEALTH FAIR, PHYSICIANS AND OTHER MEDICAL PROFESSIONALS PROVIDE FREE HEALTH SCREENING SERVICES AND MEDICAL INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ravi Bhosale President | OfficerTrustee | 8 | $0 |
Lalitha Ganesh Treasurer | OfficerTrustee | 4 | $0 |
Anil Thomas Secretary | OfficerTrustee | 3 | $0 |
Shiwani Arora Director | Trustee | 1 | $0 |
Shaheda Qaiyumi Director | Trustee | 1 | $0 |
Neeta Sahni Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,859 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,859 |
| Total Program Service Revenue | $6,912 |
| Investment income | $154,913 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $75,038 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $242,722 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,335 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,628 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,242 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,171 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,563 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,424 |
| All other expenses | $538 |
| Total functional expenses | $40,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,877 |
| Savings and temporary cash investments | $179,862 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,150 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $402,260 |
| Investments—publicly traded securities | $5,878,769 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,512,418 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $6,512,418 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,512,418 |
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