Narang Foundation
- Assets
- $277.8k
- Revenue
- $35.5k
- Investments
- $249.1k
- Employees
- 0
- Location
- McLean, VA
- Founding
- 04/2019
- Data as of
- 12/2021
- EIN
- 82-3528357
Organization Overview
Narang Foundation is located in McLean, VA. The organization was established in 2019. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Narang 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, Narang Foundation generated $35.5k 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 (48.3%) each year. All expenses for the organization totaled $131.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Narang Foundation has awarded 18 individual grants totaling $455,227. 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 |
|---|---|---|---|
Charles Narang Director | 0 | $0 | |
Shashi Narang Director | 0 | $0 | |
Dawn Dale Director | 0 | $0 | |
Rajiv K Narang Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $5,698 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $29,763 |
| Capital Gain Net Income | $29,763 |
| Net ST Capital Gain | $10,009 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $35,463 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,375 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,174 |
| Total operating and administrative expenses | $11,291 |
| Contributions, gifts, grants paid | $120,000 |
| Total expenses and disbursements | $131,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $28,634 |
| 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 | $178,551 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $277,751 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Narang Foundation has awarded $120,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
DURGA TEMPLE PURPOSE: GENERAL | $25,000 |
Mclean, VA PURPOSE: PROGRAM DEVELOPMENT | $25,000 |
SHARE INC PURPOSE: GENERAL | $20,000 |
Vienna, VA PURPOSE: GENERAL | $15,000 |
Trumbull, CT PURPOSE: GENERAL | $10,000 |
SORENSEN INST FOR PUBLIC SERVICE PURPOSE: SCHOLARSHIP, STAFFING & PROGRAMMING | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Charitable Ashburn, VA | $209,799,923 | $22,185,205 |
Wnc Bridge Foundation Asheville, NC | $146,559,840 | $12,380,465 |
The Forum For Youth Investment Washington, DC | $9,053,543 | $7,540,773 |
Hope For The Warriors Springfield, VA | $4,615,443 | $8,207,781 |
Mba Open Doors Foundation Washington, DC | $6,951,188 | $5,196,301 |
Spookstock Foundation Leesburg, VA | $1,341,695 | $5,091,159 |
The Methuselah Foundation Springfield, VA | $18,792,317 | $14,799,805 |
Kermit G Phillips Ii Charitable Tr Greensboro, NC | $71,515,607 | $5,235,464 |
Troon Foundation Elon, NC | $48,656,909 | $2,507,639 |
Glass Family Foundation Inc Asheville, NC | $24,447,807 | $3,179,935 |
Farm Journal Agricultural Foundation Washington, DC | $815,504 | $1,711,147 |
Yellow Ribbon Fund Inc Bethesda, MD | $1,996,496 | $3,055,184 |