Swaminarayan Aksharpith Inc
- Assets
- $6.6m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Robbinsville, NJ
- Founding
- 07/2003
- Data as of
- 12/2022
- EIN
- 84-1617179
Organization Overview
Swaminarayan Aksharpith Inc is located in Robbinsville, NJ. The organization was established in 2003. According to its NTEE Classification (X70) the organization is classified as: Hinduism, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Swaminarayan Aksharpith 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, Swaminarayan Aksharpith Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR THE HINDU FAITH THROUGH PREPARING AND SELLING RELIGIOUS ITEMS AND MEDICINES RELATED TO ITS RELIGIOUS TENETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALES OF RELIGIOUS ITEMS AND MEDICINES RELATED TO THE HINDU FAITH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ajay Patel Director | Trustee | 2 | $0 |
Kalpesh Solanki Director | Trustee | 2 | $0 |
Sanjay Desai Director | Trustee | 2 | $0 |
Vishal Ghelani Director | Trustee | 2 | $0 |
Mitul Patel President & Director | OfficerTrustee | 3 | $0 |
Vipul Thakkar Secretary, Treasurer & Director | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,000,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,000,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,916,712 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,916,750 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,795 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $502,199 |
| Advertising and promotion | $12,432 |
| Office expenses | $7,000 |
| Information technology | $895 |
| Royalties | $0 |
| Occupancy | $48,000 |
| Travel | $4,639 |
| 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 | $8,192 |
| Insurance | $0 |
| All other expenses | $11,907 |
| Total functional expenses | $1,115,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $938,061 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $160,115 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,049,372 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,412 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,410,437 |
| Total assets | $6,563,397 |
| Accounts payable and accrued expenses | $123,150 |
| 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 | $607,144 |
| Total liabilities | $730,294 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $5,833,103 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $6,563,397 |
Grants Awarded
Over the last fiscal year, Swaminarayan Aksharpith Inc has awarded $73,652 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
BAPS NORTHEAST - DE PURPOSE: RELIGIOUS ACTIVITIES | $0 |
BAPS SOUTHEAST - DE PURPOSE: RELIGIOUS ACTIVITIES | $0 |
BAPS SOUTHWEST - DE PURPOSE: RELIGIOUS ACTIVITIES | $0 |
BAPS WEST - DE PURPOSE: RELIGIOUS ACTIVITIES | $0 |
BAPS MIDWEST - DE PURPOSE: RELIGIOUS ACTIVITIES | $0 |
BAPS INC - DE PURPOSE: RELIGIOUS ACTIVITIES | $1,713 |