Wadhwani Charitable Foundation
- Assets
- $157.7m
- Revenue
- $40.4m
- Investments
- $150.5m
- Employees
- 0
- Location
- Los Altos, CA
- Founding
- 06/1998
- Data as of
- 12/2021
- EIN
- 77-0450893
Organization Overview
Wadhwani Charitable Foundation is located in Los Altos, CA. The organization was established in 1998. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, 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. Wadhwani Charitable 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, Wadhwani Charitable Foundation generated $40.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $7.6m during the year ending 12/2021. While expenses have increased by 12.9% 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 2016, Wadhwani Charitable Foundation has awarded 99 individual grants totaling $17,595,823. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Austin Thomas Executive Vice-Presi | 40 | $104,737 | |
Atul Raja Executive Vp, | 40 | $100,969 | |
Swati Mittal Financial Controller | 40 | $69,703 | |
Sunita Singh Executive Vp, | 40 | $64,470 | |
Romesh T Wadhwani CEO | 0.5 | $0 | |
Kathleen E Wadhwani Secretary/cfo | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Price Waterhouse Coopers Private Limited | 12/30/19 | $60,168 |
Better Future Consultancy Charges | 12/30/19 | $56,507 |
Cloud Kinetics Technology Solutions (P) Ltd | 12/30/19 | $50,171 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $83 |
| Dividends & Interest | $352 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $11,052,909 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $29,321,209 |
| Total Revenue | $40,374,553 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $417,732 |
| Pension plans, employee benefits | $7,801 |
| Interest | $0 |
| Taxes | $162,191 |
| Depreciation | $0 |
| Occupancy | $27,169 |
| Travel, conferences, and meetings | $5,183 |
| Printing and publications | $0 |
| Other expenses | $125,315 |
| Total operating and administrative expenses | $823,553 |
| Contributions, gifts, grants paid | $6,781,000 |
| Total expenses and disbursements | $7,604,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,868,874 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $4,152,732 |
| 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 | $77 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $150,547,450 |
| Net Land, buildings, and equipment | $15,997 |
| Other assets | $81,898 |
| Total assets | $157,667,028 |
| Accounts payable and accrued expenses | $162,571 |
| 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 | $943,041 |
| Total liabilities | $1,105,612 |
Grants Awarded
Over the last fiscal year, Wadhwani Charitable Foundation has awarded $6,781,000 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
San Francisco, CA PURPOSE: GENERAL PUBLIC SUPPORT | $4,500,000 |
IIT BOMBAY PURPOSE: GENERAL PUBLIC SUPPORT | $850,000 |
WADHWANI INITIATIVE FOR SUSTAINABLE HEALTHCARE FOUNDATION PURPOSE: GENERAL PUBLIC SUPPORT | $500,000 |
CENTER FOR STRATEGIC & INTNL STUDIES PURPOSE: GENERAL PUBLIC SUPPORT | $350,000 |
GOONJ INDIA PURPOSE: GENERAL PUBLIC SUPPORT | $100,000 |
CONQUER CANCER FOUNDATION PURPOSE: GENERAL PUBLIC SUPPORT | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Wadhwani Charitable Foundation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Ernst & Young Foundation New York, NY PURPOSE: General Support | $10,000 |
Ernst & Young Foundation New York, NY PURPOSE: General Support | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Groundswell Fund San Francisco, CA | $42,239,063 | $24,343,616 |
Americas Best Local Charities San Rafael, CA | $3,431,052 | $16,765,664 |
Bill Hannon Foundation Los Angeles, CA | $17,238,236 | $4,285,811 |
It Is Written Inc Riverside, CA | $12,378,597 | $15,533,924 |
Friends Of Family Health Center La Habra, CA | $48,269,218 | $21,982,956 |
Family Assistance Ministries San Clemente, CA | $4,435,253 | $12,485,569 |
Hidaya Foundation Santa Clara, CA | $4,651,500 | $12,437,401 |
Hyundai Hope On Wheels Fountain Valley, CA | $12,616,829 | $14,561,310 |
Philanthropic Impact Fund Beverly Hills, CA | $0 | $3,313,525 |
Providence Little Company Of Mary Foundation Torrance, CA | $121,035,875 | $18,031,300 |
Cambodian Childrens Fund Santa Monica, CA | $27,120,483 | $15,367,074 |
Xavier College Preparatory High School Palm Desert, CA | $46,603,211 | $9,301,462 |