Varia Family Foundation
- Assets
- $339.0k
- Revenue
- $44.0k
- Investments
- $296.4k
- Employees
- 0
- Location
- Martin, KY
- Founding
- 12/1999
- Data as of
- 12/2021
- EIN
- 61-1348860
Organization Overview
Varia Family Foundation is located in Martin, KY. The organization was established in 1999. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Varia Family 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, Varia Family Foundation generated $44.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (42.6%) each year. All expenses for the organization totaled $19.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (42.6%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Varia Family Foundation has awarded 30 individual grants totaling $187,402. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THIS FOUNDATION IS TO PROVIDE FINANCIAL ASSISTANCE TO STUDENTS WHO WERE DELIVERED BY DR. CHANDRA VARIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anand N Doshi Treasurer | 0 | $0 | |
Chandra Varia President | 0 | $0 | |
Satya J Mehta Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,000 |
| Interest on Savings | $1 |
| Dividends & Interest | $12,509 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,528 |
| Capital Gain Net Income | $16,528 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $44,038 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $161 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $9,836 |
| Other expenses | $970 |
| Total operating and administrative expenses | $11,797 |
| Contributions, gifts, grants paid | $7,700 |
| Total expenses and disbursements | $19,497 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,862 |
| Savings and temporary cash investments | $6,237 |
| 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 | $5,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,518 |
| Total assets | $339,006 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $20,000 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,000 |
Grants Awarded
Over the last fiscal year, Varia Family Foundation has awarded $7,700 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
ANAND AGRICULTURAL UNIVERSITY PURPOSE: EDUCATION | $2,500 |
DIVYA MEHTA PURPOSE: EDUCATION | $1,000 |
ASHWIN SHAH PURPOSE: MEDICAL | $750 |
MAGGIE HALL PURPOSE: MEDICAL | $500 |
GENE HALL PURPOSE: MEDICAL | $500 |
MAKAYLA SLONE PURPOSE: EDUCATION | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Src Benefit Programs Trust Springfield, MO | $118,089 | $9,937,850 |
Audrey E & Donald L Hutt Tr 283 Chicago, IL | $19,533,735 | $12,080,033 |
Willis And Reba Johnsons Foundation Franklin, TN | $17,058,167 | $2,077,347 |
Lawyers Trust Fund Of Illinois Chicago, IL | $23,693,587 | $13,676,265 |
William H Davis & Dorothy M Davis & William C Davis Foundation Columbus, OH | $50,622,304 | $3,999,336 |
William H Miner Foundation Chicago, IL | $135,785,081 | $12,025,973 |
Frederick Henry Prince Testamentary Trust Chicago, IL | $125,717,434 | $17,884,796 |
Traditions At Mill Run Columbus, OH | $9,179,158 | $5,528,068 |
James W And Frances Gibson Mcglothlin Foundation Bristol, VA | $55,479,136 | $5,807,937 |
Bluhm Family Charitable Foundation Chicago, IL | $0 | $104,878 |
Yung Family Foundation The Crestview Hills, KY | $4,438,622 | $34,262 |
Lang Rachel Boyce Charitable Trust Xxx-Xx-Xxxx Youngstown, OH | $0 | $17,968 |