Vsp Family Foundation Inc
- Assets
- $1.2m
- Revenue
- $382.9k
- Investments
- $1.2m
- Employees
- 0
- Location
- Orland Park, IL
- Founding
- 12/2018
- Data as of
- 12/2023
- EIN
- 82-4684625
Organization Overview
Vsp Family Foundation Inc is located in Orland Park, IL. The organization was established in 2018. 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. Vsp Family Foundation Inc 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 12/2023, Vsp Family Foundation Inc generated $382.9k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $38.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Vsp Family Foundation Inc has awarded 33 individual grants totaling $152,200. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vinodrai M Patel President | 1 | $0 | |
Shaku Patel Secretary | 1 | $0 | |
Nisha V Patel Vice President | 1 | $0 | |
Amee V Patel Vice President | 1 | $0 | |
Nimesh V Patel Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $332,080 |
| Interest on Savings | $0 |
| Dividends & Interest | $17,171 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $33,612 |
| Capital Gain Net Income | $30,319 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $382,863 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $892 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $201 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,141 |
| Contributions, gifts, grants paid | $37,000 |
| Total expenses and disbursements | $38,141 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $219 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,216,546 |
| 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, Vsp Family Foundation Inc has awarded $37,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
MERCY SHIPS PURPOSE: MEDICAL SERVICES | $5,000 |
DOCTORS WITHOUT BORDERS PURPOSE: MEDICAL SERVICES | $5,000 |
LOYOLA MEDICINE PURPOSE: MEDICAL RESEARCH | $10,000 |
MUNI SEVA CHARITABLE FOUNDATION PURPOSE: CHILDREN'S EDUCATION | $4,500 |
PRATHAM USA PURPOSE: CHILDREN'S EDUCATION | $10,000 |
SEVAK FOUNDATION INC PURPOSE: WOMEN'S EMPOWERMENT | $2,500 |