Choksi Family Foundation
- Assets
- $3.0m
- Revenue
- $77.7k
- Investments
- $3.0m
- Employees
- 0
- Location
- Northville, MI
- Founding
- Data as of
- 06/2023
- EIN
- 84-4064450
Organization Overview
Choksi Family Foundation is located in Northville, MI. 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. Choksi 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 06/2023, Choksi Family Foundation generated $77.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (65.0%) each year. All expenses for the organization totaled $1.0m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Choksi Family Foundation has awarded 12 individual grants totaling $1,336,001. 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Choksi President/treas./director | 1 | $0 | |
Nick Choksi Secretary/director | 1 | $0 | |
Cynthia Choksi Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $7,450 |
| Interest on Savings | $0 |
| Dividends & Interest | $93,075 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$22,865 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $77,660 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,012 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $270 |
| Total operating and administrative expenses | $11,353 |
| Contributions, gifts, grants paid | $1,005,500 |
| Total expenses and disbursements | $1,016,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $34,537 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,021,594 |
| 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, Choksi Family Foundation has awarded $1,005,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
THE CLEAR FUND DBA GIVEWELL PURPOSE: GENERAL FUND | $500,000 |
THE CLEAR FUND DBA GIVEWELL PURPOSE: GENERAL FUND | $500,000 |
BRILLIANT DETROIT PURPOSE: GENERAL FUND | $1,000 |
DETROIT RESCUE MINISTRIES PURPOSE: GENERAL FUND | $1,500 |
BRILLIANT DETROIT PURPOSE: GENERAL FUND | $3,000 |