Ravi & Naina Patel Foundation
- Assets
- $31.9m
- Revenue
- $1.6m
- Investments
- $24.3m
- Employees
- 0
- Location
- Bakersfield, CA
- Founding
- 05/1999
- Data as of
- 12/2022
- EIN
- 77-0490360
Organization Overview
Ravi & Naina Patel Foundation is located in Bakersfield, CA. The organization was established in 1999. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Ravi & Naina Patel 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, Ravi & Naina Patel Foundation generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (22.9%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Ravi & Naina Patel Foundation has awarded 76 individual grants totaling $5,949,159. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ravi Patel President / Director | 2 | $0 | |
Naina Patel Vice President / Secretary / Director | 5 | $0 | |
Amar Patel President / Director | 10 | $60,000 | |
Pritesh Patel CFO / Director | 2 | $0 | |
Neeraj Rama Director | 2 | $0 | |
Rishi Patel Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,830,000 |
| Interest on Savings | $16,482 |
| Dividends & Interest | $108,336 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,957,175 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $203,443 |
| Other Income | $435,044 |
| Total Revenue | $1,636,130 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $60,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $683 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $378,749 |
| Total operating and administrative expenses | $469,125 |
| Contributions, gifts, grants paid | $1,585,776 |
| Total expenses and disbursements | $2,054,901 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,438,930 |
| Savings and temporary cash investments | $3,161,090 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $24,252,665 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $31,852,685 |
| Accounts payable and accrued expenses | $1,877 |
| 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 | $651,630 |
| Total liabilities | $653,507 |
Grants Awarded
Over the last fiscal year, Ravi & Naina Patel Foundation has awarded $1,585,776 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
ALL 4 HUMANITY ALLIANCE PURPOSE: GENERAL SUPPORT | $5,001 |
ALLIANCE AGAINST FAMILY VIOLENCE PURPOSE: FOR ASSISTANCE IN FIGHTING DOMESTIC VIOLENCE AND SEXUAL ASSAULT | $22,500 |
ALLIANCE FOR PTSD RECOVERY PURPOSE: PROVIDES THE NEWS OF A NEW STRATEGY THAT RAPIDLY AND EFFECTIVELY REDUCES POST-TRAUMATIC STRESS DISORDER. | $3,000 |
BAKERSFIELD CENTRAL HISPANIC SDA CHURCH PURPOSE: TO PROVIDE COMMUNITY DEVELOPMENT AND DISASTER RELIEF. | $50,000 |
BAKERSFIELD COLLEGE FOUNDATION PURPOSE: ACADEMIC SUPPORT. | $3,000 |
BAKERSFIELD HOMELESS CENTER PURPOSE: MEALS FOR THE HOMELESS | $40,897 |