Iit Bombay Heritage Foundation
- Assets
- $12.3m
- Revenue
- $4.0m
- Investments
- $147.9k
- Employees
- 0
- Location
- Cupertino, CA
- Founding
- 06/1996
- Data as of
- 12/2022
- EIN
- 77-0428724
Organization Overview
Iit Bombay Heritage Foundation is located in Cupertino, CA. The organization was established in 1996. According to its NTEE Classification (Q11) the organization is classified as: Single Organization Support, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iit Bombay Heritage 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, Iit Bombay Heritage Foundation generated $4.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $2.9m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE EDUCATION, SCIENTIFIC AND TECHNOLOGICAL RESEARCH ACTIVITIES AT IIT BOMBAY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS SERVICES ACCOMPLISHMENT INCLUDE THE FOLLOWING GRANTS TO IIT BOMBAY FROM THE IIT BOMBAY HERITAGE FOUNDATION IN 2022SCHOLARSHIPS, EXCELLENCE AWARDS & CHAIRSOVER 651 CONTINUING ENDOWED SCHOLARSHIPS AS WELL AS NUMEROUS CHAIR PROFESSORSHIPS WERE AWARDED IN 2022.70 NEW SCHOLARSHIP AWARDS WERE MADE TO STUDENTS IN VARIOUS DEPARTMENTS.A GRANT WAS MADE TO SUPPORT THE TO FINANCIAL AID PROGRAM (FAP) AT IIT BOMBAYA GRANT WAS MADE TOWARDS THE CREATION OF THE PROF. RINTI BANERJEE CHAIR VISITING CHAIR PROFESSORSHIP AT IIT BOMBAYA GRANT WAS MADE TOWARDS THE CREATION OF THE KELKAR FAMILY CHAIR IN QUANTITATIVE FINANCEA GRANT WAS MADE TOWARDS CREATION OF THE SAMIR & VINAYA KAPOOR CHAIR IN CLIMATE STUDIESA GRANT WAS MADE TO SUPPORT PROF. D.M. DHAMDHERE CHAIR PROFESSORSHIP FOR EXCELLENCE IN TEACHING METHODS AT IIT BOMBAYA GRANT WAS MADE TO SUPPORT PROF. S. C. SAHASRABUDHE (SCS) TEACHING EXCELLENCE AWARD AT IIT BOMBAYA GRANT WAS MADE TO SUPPORT THE PROF. N.R.KAMATH CHAIR FOR INSTITUTE AND EXCELLENCEA GRANT WAS MADE TO SUPPORT THE PAMELA AND SHIV KHOSLA MERIT AWARD AT IIT BOMBAYFACULTY AND STUDENT DEVELOPMENT GRANTS A GRANT WAS MADE TO SUPPORT THE PROJECT CONDUCTED BY PROF. SRINIVASAN RAMAKRISHNAN FROM THE CHEMISTRY DEPARTMENT AT IITB.A GRANT WAS MADE TO SUPPORT THE YOUNG FACULTY AWARDS (YFA)A GRANT WAS MADE TO SUPPORT THE GEN ZERO WOMEN PROJECT AT IITB.A GRANT WAS MADE TO SUPPORT THE MEGAN KACHOLIA FELLOWSHIP BEING PROVIDED TO TWO DOCTORAL (PH.D.) WOMEN STUDENTS AT IIT BOMBAY WITHIN THE CENTRE FOR MACHINE INTELLIGENCE AND DATA SCIENCE.A GRANT WAS MADE TO SUPPORT THE SUMMER INTERNSHIP PROGRAM IN THE CHEMICAL ENGINEERING DEPARTMENT AND ENERGY DEPARTMENT AT IIT BOMBAYFACILITIES, EQUIPMENT AND INFRASTRUCTURE DEVELOPMENT GRANTA GRANT WAS MADE TO THE WADHWANI RESEARCH CENTER FOR BIOENGINEERING (WRCB) PHASE II AT IITBA GRANT WAS MADE TO THE WADHWANI ELECTRONICS LAB (WEL) AT IITBA GRANT WAS MADE TO SUPPORT THE CENTER FOR MACHINE INTELLIGENCE AND DATA SCIENCE, AT IIT BOMBAY (CMINDS)A GRANT WAS MADE TO THE HIGH-SPEED FLOW DIAGNOSTIC LAB IN THE AEROSPACE ENGINEERING DEPT. AT IITBA GRANT WAS MADE TO THE BRIJRAJ CHANDRA MANSINGH CHEMICAL INSTRUMENTATION LABORATORY IN THE DEPARTMENT OF CHEMISTRYA GRANT WAS MADE TO SUPPORT THE MAKER SPACE FACILITY AT IIT BOMBAYA GRANT WAS MADE FROM THE MAKER BHAVAN FOUNDATION FUNDS TO SUPPORT THE INVENTION FACTORY PROJECT AT IIT BOMBAY.A GRANT WAS MADE TO SUPPORT THE ECONOMETRICS LABORATORY IN THE DEPARTMENT OF HUMANITIES AND SOCIAL SCIENCES AT IIT BOMBAYA GRANT WAS MADE TO SUPPORT THE ONLINE M.ENG PROGRAM IN INNOVATION AND ENTREPRENEURSHIP AT DESAI SETHI SCHOOL OF ENTREPRENEURSHIP (DSSE), IIT BOMBAY.A GRANT WAS MADE TO SUPPORT THE COVID-19 ASSISTANCE FUND AT IIT BOMBAYA GRANT WAS MADE TO SUPPORT THE ESTABLISHMENT OF A COLLABORATIVE LEARNING CLASSROOM (CC) AND AN EXPERIENTIAL LEARNING LAB (EL) AT THE DEPARTMENT OF ELECTRICAL ENGINEERING AT IIT BOMBAY A GRANT WAS MADE TO SUPPORT THE ALUMNI-LED HOSTEL RECONSTRUCTION PROJECT EVERGREEN (PHASE 1) AT IIT BOMBAYA GRANT WAS MADE TO THE CLASS OF 1980 RUBY REUNION LEGACY PROJECT TO SUPPORT THE CREATION OF A DESIGN AND MAKING LAB AT IIT BOMBAY.WEB BASED SERVICESIN ADDITION TO THE ABOVE GRANTS, IIT BOMBAY HERITAGE FOUNDATION PROVIDES THE FOLLOWING SERVICES:ALUMNI CHAPTER ACTIVITIES WHICH INCLUDE PROFESSIONAL, NETWORKING AND SOCIAL EVENTS. ALUMNI WEB PORTAL WWW.IITBOMBAY.ORG WHICH IS FEATURE RICH. IT PROVIDES A PLATFORM FOR ALUMNI TO INTERACT INDIVIDUALLY AND AS A GROUP. THE NEW ALUMNI PORTAL ALLOWS ALUMNI TO CONNECT WITH IITB RELATED SOCIAL MEDIA PLATFORMS. FACEBOOK, TWITTER AND LINKEDIN NEWSFEEDS AND LINKS ARE PROVIDED ON THE PLATFORM.GOOGLE ADMINISTERED @IITBOMBAY.ORG MAILBOXES.CHAT ROOMS, BULLETIN BOARDS, JOBS BOARD, AND ALUMNI NEEDS SECTION ON ALUMNI PORTAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ankur Manake Vice- Treasurer | OfficerTrustee | 5 | $0 |
Raj Singh Director | Trustee | 1 | $0 |
Shamrao Kattimani Treasurer | OfficerTrustee | 5 | $0 |
Suresh Shenoy Director | Trustee | 1 | $0 |
Hrishikesh Sathawane Director | Trustee | 1 | $0 |
Sunita Parasuraman 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 | $3,623,241 |
| Noncash contributions included in lines 1a–1f | $359,732 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,623,241 |
| Total Program Service Revenue | $101,033 |
| Investment income | $171,450 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $55,261 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,951,115 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,696,091 |
| 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 | $1,350 |
| Fees for services: Accounting | $7,460 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $165 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $73 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,858 |
| All other expenses | $20,745 |
| Total functional expenses | $2,895,699 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,936,764 |
| Savings and temporary cash investments | $10,631 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $228,379 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,983,135 |
| Investments—other securities | $147,922 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,314,331 |
| Accounts payable and accrued expenses | $37,616 |
| 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 | $37,616 |
| Net assets without donor restrictions | $1,259,906 |
| Net assets with donor restrictions | $11,016,809 |
| 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 | $12,314,331 |