Aggarwal & Gupta Family Foundation Inc
- Assets
- $50.0m
- Revenue
- $2.4m
- Investments
- $26.4m
- Employees
- 13
- Location
- Orlando, FL
- Founding
- 10/2001
- Data as of
- 11/2023
- EIN
- 59-3623323
Organization Overview
Aggarwal & Gupta Family Foundation Inc is located in Orlando, FL. The organization was established in 2001. 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. As of 11/2023, Aggarwal & Gupta Family Foundation Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aggarwal & Gupta Family Foundation 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 11/2023, Aggarwal & Gupta Family Foundation Inc generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 33.1% each year . All expenses for the organization totaled $2.0m during the year ending 11/2023. While expenses have increased by 30.1% per year over the past 6 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, Aggarwal & Gupta Family Foundation Inc has awarded 38 individual grants totaling $6,575,834. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THIS ORGANIZATION IS TO MAKE GRANTS TO SEVEN SPECIFIED PUBLIC CHARITIES AND ORGANIZATIONS SUPPORTED BY THESE SPECIFIC CHARITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAYMENT TO HINDU UNIVERSITY OF AMERICA TO PROVIDE VEDIC/HINDU CULTURAL EDUCATION.
PAYMENT TO CHINMAYA EDUCATION FOUNDATION TO PROVIDE VEDIC/HINDU CULTURAL EDUCATION.
PAYMENT TO INDUS EDUCATIONAL AND EMPOWERMENT TO PROVIDE VEDIC/HINDHU CULTURAL EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Braham R Aggarwal President, Chairman | OfficerTrustee | 3 | $0 |
Mark Brewer Vice President | OfficerTrustee | 1 | $0 |
Abhinav Dwivedi Secretary | OfficerTrustee | 1 | $0 |
Suresh K Gupta Treasurer | OfficerTrustee | 1 | $0 |
Chandrakanth Patel Director | Trustee | 1 | $0 |
Kiran Changanlal Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,851 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,851 |
| Total Program Service Revenue | $0 |
| Investment income | $2,715,531 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$226,791 |
| Net Gain/Loss on Asset Sales | -$101,993 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,392,598 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,540,028 |
| 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 | $16,253 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $82,764 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,500 |
| Office expenses | $1,214 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $269,943 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,539 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,999,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $588,447 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,538,940 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,460,052 |
| Investments—publicly traded securities | $16,049,474 |
| Investments—other securities | $26,369,465 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,660 |
| Total assets | $50,014,038 |
| Accounts payable and accrued expenses | $93,235 |
| 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 | $3,150,048 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,243,283 |
| Net assets without donor restrictions | $0 |
| 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 | $46,770,755 |
| Total liabilities and net assets/fund balances | $50,014,038 |
Grants Awarded
Over the last fiscal year, Aggarwal & Gupta Family Foundation Inc has awarded $1,500,028 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
HINDU UNIVERSITY OF AMERICA PURPOSE: THE ORGANIZATION IS A SUPPORTED ORGANIZATION WITH THE OPERATION WITH THE OPTION TO DONATE OTHER 501(C)3 ORGANIZATIONS | $1,200,000 |
EKAL VIDYALAY FOUNDATION OF USA PURPOSE: THE ORGANIZATION IS A SUPPORTED ORGANIZATION WITH THE OPTION TO DONATE TO OTHER 501(C)(3) ORGANIZATIONS. | $90,000 |
INDUS EDUCATIONAL AND EMPOWERMENT FOUNDATION INC PURPOSE: THE ORGANIZATION IS A SUPPORTED ORGANIZATION WITH THE OPTION TO DONATE TO OTHER 501(C)(3) ORGANIZATIONS. | $100,000 |
CHINMAYA MISSION OF ORLANDO INC PURPOSE: GENERAL SUPPORT TOWARDS THE ORGANIZATION'S EXEMPT PURPOSE. | $100,000 |
VEDIC ACHARYA SAMAJ FOUNDATION INC PURPOSE: GENERAL SUPPORT TOWARDS THE ORGANIZATION'S EXEMPT PURPOSE. | $5,027 |
GUJARATI SOCIETY OF CENTRAL FLORIDA PURPOSE: GENERAL SUPPORT TOWARDS THE ORGANIZATION'S EXEMPT PURPOSE. | $5,001 |