Faris Foundation
- Assets
- $4.8m
- Revenue
- $1.6m
- Investments
- $3.4m
- Employees
- 3
- Location
- Sugar Land, TX
- Founding
- 06/2019
- Data as of
- 12/2023
- EIN
- 83-3109684
Organization Overview
Faris Foundation is located in Sugar Land, TX. The organization was established in 2019. According to its NTEE Classification (G30) the organization is classified as: Cancer, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2023, Faris Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faris 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, Faris Foundation generated $1.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Faris Foundation has awarded 17 individual grants totaling $3,343,952. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CARE PACKAGES - PROVIDING CURATED CARE PACKAGES NATIONWIDE TO CHILDREN WITH CANCER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILDHOOD CANCER RESEARCH - WE FUND ORIGINAL AND TRANSFORMATIVE RESEARCH IN AREAS WHERE THERE IS HIGH NEED AND A HIGH POTENTIAL FOR IMPACT. OUR FOCUS IS ON IMMUNOTHERAPY FOR RARE CANCERS WHERE THE MORTALITY RATE HAS NOT CHANGED IN DECADES.
CARE PACKAGES - PROVIDING CURATED CARE PACKAGES NATIONWIDE TO CHILDREN WITH CANCER.
CHILDHOOD CANCER RESEARCH - WE FUND ORIGINAL AND TRANSFORMATIVE RESEARCH IN AREAS WHERE THERE IS HIGH NEED AND A HIGH POTENTIAL FOR IMPACT. OUR FOCUS IS ON IMMUNOTHERAPY FOR RARE CANCERS WHERE THE MORTALITY RATE HAS NOT CHANGED IN DECADES.
CARE PACKAGES - PROVIDING CURATED CARE PACKAGES NATIONWIDE TO CHILDREN WITH CANCER.
CREATIVE ART THERAPY PROGRAMS - THE FARIS FOUNDATION WORKS TO EMBED HIGHLY QUALIFIED, MASTERS-TRAINED ART THERAPISTS AND MUSIC THERAPISTS WITHIN CHILDREN'S CANCER CENTERS ACROSS THE COUNTRY. IN ADDITION, WE PROVIDE ONGOING ART ENGAGEMENTS AT NUMEROUS CHILDREN'S CANCER CENTERS WHICH ENGAGE PROFESSIONAL ARTISTS/ARTS EDUCATORS IN THE CONCEPTUALIZATION OF UNIQUE PROJECTS FOR EACH OF THESE EVENTS AND INVITE THE PARTICIPATION OF VOLUNTEERS FROM THE COMMUNITY FOR THE EVENT ITSELF.
CREATIVE ART THERAPY PROGRAMS - THE FARIS FOUNDATION WORKS TO EMBED HIGHLY QUALIFIED, MASTERS-TRAINED ART THERAPISTS AND MUSIC THERAPISTS WITHIN CHILDREN'S CANCER CENTERS ACROSS THE COUNTRY. IN ADDITION, WE PROVIDE ONGOING ART ENGAGEMENTS AT NUMEROUS CHILDREN'S CANCER CENTERS WHICH ENGAGE PROFESSIONAL ARTISTS/ARTS EDUCATORS IN THE CONCEPTUALIZATION OF UNIQUE PROJECTS FOR EACH OF THESE EVENTS AND INVITE THE PARTICIPATION OF VOLUNTEERS FROM THE COMMUNITY FOR THE EVENT ITSELF.
LET THERE BE GOLD - LET THERE BE GOLD IS OUR ANNUAL CHILDHOOD CANCER AWARENESS AND PUBLIC ENGAGEMENT CAMPAIGN. EVERY SEPTEMBER WE HOLD GOLD CELEBRATIONS IN CHILDREN'S CANCER CENTERS AND GALVANIZE COMMUNITIES AROUND THE CAUSE.
LET THERE BE GOLD - LET THERE BE GOLD IS OUR ANNUAL CHILDHOOD CANCER AWARENESS AND PUBLIC ENGAGEMENT CAMPAIGN. EVERY SEPTEMBER WE HOLD GOLD CELEBRATIONS IN CHILDREN'S CANCER CENTERS AND GALVANIZE COMMUNITIES AROUND THE CAUSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Asha Jamal Virani President | OfficerTrustee | 40 | $0 |
Farid Virani Vice President | OfficerTrustee | 2 | $0 |
Krista Babine Director | Trustee | 1 | $0 |
Susan Blaney Director | Trustee | 1 | $0 |
Naushad Kermally Director | Trustee | 1 | $0 |
Bonna Kol Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $899,529 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $673,455 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,572,984 |
| Total Program Service Revenue | $0 |
| Investment income | $100,980 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $614 |
| Net Income from Fundraising Events | -$100,218 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,578,814 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $852,648 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $206,454 |
| Pension plan accruals and contributions | $5,370 |
| Other employee benefits | $9,355 |
| Payroll taxes | $14,493 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,739 |
| Fees for services: Other | $3,221 |
| Advertising and promotion | $0 |
| Office expenses | $9,250 |
| Information technology | $11,297 |
| Royalties | $0 |
| Occupancy | $14,573 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,265,575 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $881,442 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $460,950 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,440,272 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,782,664 |
| Accounts payable and accrued expenses | $20,623 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $51,534 |
| Total liabilities | $72,157 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $4,710,507 |
| Total liabilities and net assets/fund balances | $4,782,664 |
Grants Awarded
Over the last fiscal year, Faris Foundation has awarded $1,693,336 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ST BALDRICK'S FOUNDATION PURPOSE: IMMUNOTHRAPY RESEARCH GRANT FOR OSTEOSARCOMA | $100,000 |
MOUNT SINAI KRAVIS CHILDREN'S HOSPITAL PURPOSE: TO ESTABLISH AN ART THERAPY FELLOWSHIP. | $25,000 |
TEXAS CHILDREN'S CANCER CENTER PURPOSE: TWO PHASE ONE TRIALS IN IMMUNOTHERAPY IN PEDIATRIC REFRACTORY SOLID AND BRAIN TUMORS. | $721,668 |
MOUNT SINAI KRAVIS CHILDREN'S HOSPITAL PURPOSE: TO ESTABLISH AN ART THERAPY FELLOWSHIP. | $25,000 |
TEXAS CHILDREN'S CANCER CENTER PURPOSE: TWO PHASE ONE TRIALS IN IMMUNOTHERAPY IN PEDIATRIC REFRACTORY SOLID AND BRAIN TUMORS. | $721,668 |
ST BALDRICK'S FOUNDATION PURPOSE: IMMUNOTHRAPY RESEARCH GRANT FOR OSTEOSARCOMA | $100,000 |