Somaiya Family Foundation
- Assets
- $12.8m
- Revenue
- $13.7k
- Investments
- $11.8m
- Employees
- 0
- Location
- Miami Beach, FL
- Founding
- Data as of
- 12/2022
- EIN
- 84-4003529
Organization Overview
Somaiya Family Foundation is located in Miami Beach, FL. 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. Somaiya Family 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 12/2022, Somaiya Family Foundation generated $13.7k in total revenue. All expenses for the organization totaled $1.1m during the year ending 12/2022.
Since 2020, Somaiya Family Foundation has awarded 25 individual grants totaling $1,557,992. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $299,309 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$285,601 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $13,708 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12,191 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15 |
| Total operating and administrative expenses | $114,030 |
| Contributions, gifts, grants paid | $958,574 |
| Total expenses and disbursements | $1,072,604 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,052,388 |
| 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 | $510,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $12,819,986 |
| 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, Somaiya Family Foundation has awarded $958,574 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
FRIENDS OF PATIENTS AT NIH PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
PRATHAM USA PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
INDIA DEVELOPMENT AND RELIEF FUND PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
SCHWAB CHARITABLE FUND PURPOSE: GENERAL OPERATING SUPPORT.REGARDING THE GIFT OF STOCK, PLEASE SEE THE ATTACHED 8,083 SHARES AMAZON COMMON STOCK, GIFT DATE 12/15/22.COST - $743,759; FAIR MARKET VALUE - $776,574. | $776,574 |
CHILDREN'S INN AT NIH PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
UNIVERSITY OF PENNSYLVANIA PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |