Rean Foundation
- Assets
- $4.2m
- Revenue
- $473.5k
- Investments
- $3.9m
- Employees
- 0
- Location
- Leesburg, VA
- Founding
- 07/2019
- Data as of
- 12/2023
- EIN
- 83-2867379
Organization Overview
Rean Foundation is located in Leesburg, 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. Rean 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 12/2023, Rean Foundation generated $473.5k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 43.6% each year . All expenses for the organization totaled $564.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF A PLATFORM TO CONNECT LOCAL PATIENTS, DOCTORS, LABS, AND PHARMACIES. THE FREE, OPEN-SOURCED PLATFORM WILL ENCOURAGE HEALTHY BEHAVIORS, SUCH AS MEASURING VITALS AND TAKING MEDICATIONS AS PRESCRIBED, IN EXCHANGE FOR POINTS THAT CAN BE REDEEMED FOR MEDICAL EXPENSES. THE PLATFORM WILL BE AVAILABLE TO HEALTHCARE PROVIDERS, AND THE FOUNDATION WILL PROVIDE SUPPORT AND MAINTENANCE. INFORMATION COLLECTED BY THE PLATFORM WILL BE USED IN MEDICAL STUDIES. THE FOUNDATION HAS ENTERED INTO A JOINT MARKETING EFFORT WITH A PUBLIC CHARITY TO FURTHER THIS ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nirupama Vasireddy President/treasurer | 5 | $0 | |
Sridhar Vasireddy Founder/ceo | 30 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $374,000 |
| Interest on Savings | $1,775 |
| Dividends & Interest | $80,435 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $17,245 |
| Capital Gain Net Income | $17,245 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $473,455 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,885 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $15,574 |
| Printing and publications | $46 |
| Other expenses | $515,531 |
| Total operating and administrative expenses | $564,546 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $564,546 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $253,512 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $30,000 |
| 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 | $3,900,273 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,183,785 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $169,999 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $4,866 |
| Total liabilities | $174,865 |
Grants Awarded
Over the last fiscal year, Rean Foundation has awarded $8,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ICHOSIA BIOTECHNOLOGY PURPOSE: GENERAL PUBLIC HEALTH AND WELFARE | $500 |
KITSTOHEART PURPOSE: GENERAL PUBLIC HEALTH AND WELFARE | $2,000 |
INSIGHT OPTICS PURPOSE: GENERAL PUBLIC HEALTH AND WELFARE | $4,000 |
VITALIZE APP LLC PURPOSE: GENERAL PUBLIC HEALTH AND WELFARE | $1,500 |