Shah Karma Foundation Inc
- Assets
- $296.0k
- Revenue
- $14.7k
- Investments
- $286.5k
- Employees
- 0
- Location
- Palm Harbor, FL
- Founding
- 06/2019
- Data as of
- 12/2022
- EIN
- 83-2673194
Organization Overview
Shah Karma Foundation Inc is located in Palm Harbor, FL. The organization was established in 2019. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Shah Karma 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, Shah Karma Foundation Inc generated $14.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (43.3%) each year.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
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 |
|---|---|---|---|
Hemant N Shah President & Treasurer | 1 | $0 | |
Alka H Shah Secretary | 1 | $0 | |
Madhvi H Shah Director | 1 | $0 | |
Paras H Shah Director | 1 | $0 | |
Pooja Kapadia Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,650 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $518 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $14,650 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $425 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,925 |
| Contributions, gifts, grants paid | $16,223 |
| Total expenses and disbursements | $18,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,531 |
| 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 | $286,489 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $296,020 |
| 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, Shah Karma Foundation Inc has awarded $16,223 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
EKAL VIDYALAYA FOUNDATION OF USA PURPOSE: CHARITABLE | $3,650 |
GOOD SAMARITAN HEALTH CLINIC OF PASCO PURPOSE: CHARITABLE | $500 |
AKSHAYA PATRA PURPOSE: CHARITABLE | $5,000 |
FREE CLINIC OF TAMPA BAY PURPOSE: CHARITABLE | $0 |
CARES PURPOSE: CHARITABLE | $500 |
JAIN SOCIETY OF TAMPABAY PURPOSE: CHARITABLE | $6,073 |