Drs Ila & Vinod Shah Foundation Inc
- Assets
- $1.6m
- Revenue
- $15.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Mechanicsville, MD
- Founding
- 06/2019
- Data as of
- 12/2022
- EIN
- 83-2419849
Organization Overview
Drs Ila & Vinod Shah Foundation Inc is located in Mechanicsville, MD. The organization was established in 2019. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Drs Ila & Vinod Shah 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 12/2022, Drs Ila & Vinod Shah Foundation Inc generated $15.9k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $102.7k during the year ending 12/2022. While expenses have increased by 0.6% per year over the past 4 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 2019, Drs Ila & Vinod Shah Foundation Inc has awarded 40 individual grants totaling $411,600. 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 |
|---|---|---|---|
Vinod K Shah President | 1 | $0 | |
Ila V Shah Vice President | 1 | $0 | |
Amish V Shah Secretary/treasurer | 1 | $0 | |
Meena V Shah Officer | 1 | $0 | |
Nimesh Khatri Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $750 |
| Interest on Savings | $15,129 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $15,879 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,050 |
| Total operating and administrative expenses | $1,050 |
| Contributions, gifts, grants paid | $101,600 |
| Total expenses and disbursements | $102,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,612,865 |
| 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 | $1,612,865 |
| 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, Drs Ila & Vinod Shah Foundation Inc has awarded $101,600 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN DIVERSITY GROUP INC PURPOSE: DONATIONDONATION | $10,000 |
BAPS CHARITIES PURPOSE: DONATION | $1,000 |
BLIND PEOPLE'S ASSN USA PURPOSE: DONATION | $5,000 |
BLIND PEOPLE'S ASSN INDIA PURPOSE: DONATION | $10,000 |
ROTARY FOUNDATION INC PURPOSE: DONATION | $21,000 |
THE LEUKEMIA & LYMPHOMA SOCIETY INC PURPOSE: DONATION | $10,000 |