Desai Sethi Foundation Inc
- Assets
- $156.2m
- Revenue
- $5.3m
- Investments
- $103.4m
- Employees
- 0
- Location
- Miami, FL
- Founding
- 03/2013
- Data as of
- 12/2022
- EIN
- 90-0820145
Organization Overview
Desai Sethi Foundation Inc is located in Miami, FL. The organization was established in 2013. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Desai Sethi Foundation 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, Desai Sethi Foundation Inc generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $4.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Desai Sethi Foundation Inc has awarded 111 individual grants totaling $3,348,545. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAMVID SCHOLARS: SAMVID SCHOLARS WAS ESTABLISHED TO INVEST IN THE GRADUATE EDUCATION OF FUTURE LEADERS WHO ARE COMMITTED TO EFFECTING POSITIVE CHANGE IN SOCIETY. THIS CROSS-DISCIPLINARY PROGRAM IS INTENDED TO REACH SOME OF THE MOST TALENTED YOUNG PEOPLE IN OUR COUNTRY AND PROVIDE THEM WITH ENHANCED LEADERSHIP TRAINING, A COMMUNITY OF LIKE-MINDED PROBLEM-SOLVERS FOCUSED ON IMPACT, AND FURTHER INSTILL IN THEM AN ORIENTATION TOWARD SERVICE. THIS PROGRAM INCLUDES A FINANCIAL COMPONENT TO COVER TUITION AND FEES FOR UP TO TWO YEARS OF GRADUATE SCHOOL, AS WELL AS SIGNIFICANT PROGRAMMING IN THE AREAS OF THOUGHT LEADERSHIP, SELF-KNOWELDGE, APPLIED SELF KNOWLEDGE AND SERVICE.
SAMVID YOUNG LEADERS (FORMERLY DSF SCHOLARS): SAMVID YOUNG LEADERS IS A PROGRAM THAT WORKS WITH UNDERSERVED, HIGH-ACHIEVING, COLLEGE-BOUND FEMALE STUDENTS IN DETROIT IN ORDER TO HELP THEM REALIZE IMPROVED ACADEMIC AND ECONOMIC OUTCOMES. IT IS A FOUR-YEAR PROGRAM THAT CONSISTS OF FINANCIAL LITERACY TRAINING, FUNDING, AND ACADEMIC/PERSONAL SUPPORT SERVICES THAT ARE DELIVERED THROUGHOUT THE FOUR YEARS.
DSF SOCIAL IMPACT FELLOWSHIP: DSF SOCIAL IMPACT FELLOWSHIP WAS ESTABLISHED TO PROVIDE FUNDING AND HIRE FELLOWS WHO WOULD THEN PROVIDE SUPPORT TO IN-NEED NONPROFITS, SMALL BUSINESSES, AND/OR GOVERNMENT ENTITIES BASED IN DETROIT, HAMTRAMCK OR HIGHLAND PARK, MI THAT MEET ELIGIBILITY CRITERIA.
SHAALA (DS): THIS PROGRAM WAS LAUNCHED IN 2021 WITH THE OBJECTIVE OF REALIZING BETTER ACADEMIC AND OTHER EDUCATIONAL OUTCOMES (AND TO STEM FURTHER COVID-RELATED LEARNING LOSS) BY PROVIDING TECHNOLOGY DIRECTLY TO STUDENTS IN THE FORM OF TABLETS. THE SCOPE OF THIS WORK IS 80 SCHOOLS IN RURAL INDIA. SCHOOLS WERE CAREFULLY SELECTED, IN CONJUNCTION WITH OUR PARTNER ON THE GROUND AMERICAN INDIA FOUNDATION, TO ENSURE COMMITMENT TO THE PROGRAM, AND HEADMASTERS AND TEACHERS WILL BE TRAINED IN HOW TO USE TABLETS TO TEACH STUDENTS MORE EFFECTIVELY FLIPPED CLASSROOMS AND ONLINE QUIZZES.) STUDENT CURRICULAR RESOURCES WILL BE CURATED TO ENSURE THAT ALL STUDENTS, BUT PARTICULARLY THOSE WHO FELL BEHIND THE MOST DURING COVID-RELATED SCHOOL CLOSURES, CAN MEET OR EXCEED GRADE LEVEL EXPECTATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bharat Desai Director, Chairman, President | 4 | $0 | |
Neerja Sethi Director, Vp, Secretary, Treasurer | 12 | $0 | |
Saahill Desai Director | 4 | $0 | |
Pia Desai Director | 36 | $0 | |
Laura Clancy Chief Operating Offi | 40 | $225,000 | |
Bicky David Director Of Programs | 24 | $160,067 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Aspen Institute | 12/30/22 | $217,500 |
Ds Advisors Llc | 12/30/22 | $214,554 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $749,000 |
| Dividends & Interest | $4,271,606 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $293,816 |
| Capital Gain Net Income | $293,816 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,314,422 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $1,181,658 |
| Pension plans, employee benefits | $163,870 |
| Interest | $0 |
| Taxes | $42,716 |
| Depreciation | $274,488 |
| Occupancy | $196,696 |
| Travel, conferences, and meetings | $9,326 |
| Printing and publications | $32,314 |
| Other expenses | $312,032 |
| Total operating and administrative expenses | $2,765,745 |
| Contributions, gifts, grants paid | $1,850,386 |
| Total expenses and disbursements | $4,616,131 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $707,570 |
| Savings and temporary cash investments | $38,116,862 |
| 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 | $68,058,567 |
| Net Land, buildings, and equipment | $12,806,789 |
| Other assets | $1,210,000 |
| Total assets | $156,238,798 |
| Accounts payable and accrued expenses | $20,758 |
| 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 | $20,758 |
Grants Awarded
Over the last fiscal year, Desai Sethi Foundation Inc has awarded $1,850,386 in support to 59 organizations.
| Grant Recipient | Amount |
|---|---|
BAYLOR COLLEGE OF MEDICINE MANOHAR PURPOSE: SCHOLARSHIP - SAMVID SCHOLARS PROGRAM - COHORT 1 | $33,197 |
BERKELEY LAW ITF DESILVA JUSTINE PURPOSE: SCHOLARSHIP - SAMVID SCHOLARS PROGRAM - COHORT 1 | $50,000 |
COLUMBIA LAW SCHOOL ITF LUNN BENNET PURPOSE: SCHOLARSHIP - SAMVID SCHOLARS PROGRAM - COHORT 2 | $50,000 |
HARVARD BUSINESS SCHOOL ITF BERVELL PURPOSE: SCHOLARSHIP - SAMVID SCHOLARS PROGRAM - COHORT 2 | $50,000 |
HARVARD LAW SCHOOL ITF KOENIG THOMA PURPOSE: SCHOLARSHIP - SAMVID SCHOLARS PROGRAM - COHORT 1 | $50,000 |
HARVARD MEDICAL SCHOOL ITF BAKER NA PURPOSE: SCHOLARSHIP - SAMVID SCHOLARS PROGRAM - COHORT 1 | $50,000 |