Desai Sethi Foundation Inc
- Assets
- $167.4m
- Revenue
- $1.3m
- Investments
- $47.6m
- Employees
- 0
- Location
- miami, FL
- Founding
- 03/2013
- Data as of
- 12/2021
- 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 12/2021, Desai Sethi Foundation Inc generated $1.3m in total revenue. All expenses for the organization totaled $6.5m during the year ending 12/2021. While expenses have increased by 576.5% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Desai Sethi Foundation Inc has awarded 52 individual grants totaling $1,498,159. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY RESILIENCE PRIZE (SEE ATTACHMENT)
DEEP SHAALA (SEE ATTACHMENT)
SAMVID SCHOLARS (SEE ATTACHMENT)
SAMVID YOUNG LEADERS (SEE ATTACHMENT)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bharat Desai Director | 4 | $0 | |
Neerja Sethi Director | 12 | $0 | |
Pia Desai Director | 36 | $0 | |
Saahill Desai Director | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $56,590 |
| Dividends & Interest | $1,215,018 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,970 |
| Capital Gain Net Income | $7,970 |
| Net ST Capital Gain | $7,970 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $39,106 |
| Total Revenue | $1,318,684 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $476,330 |
| Pension plans, employee benefits | $26,139 |
| Interest | $0 |
| Taxes | $40,634 |
| Depreciation | $0 |
| Occupancy | $182,211 |
| Travel, conferences, and meetings | $3,167 |
| Printing and publications | $405 |
| Other expenses | $4,025,291 |
| Total operating and administrative expenses | $4,966,332 |
| Contributions, gifts, grants paid | $1,498,159 |
| Total expenses and disbursements | $6,464,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $425,279 |
| Savings and temporary cash investments | $105,831,080 |
| 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 | $13,540,206 |
| Other assets | $0 |
| Total assets | $167,397,052 |
| 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 | $1,388 |
| Total liabilities | $1,388 |
Grants Awarded
Over the last fiscal year, Desai Sethi Foundation Inc has awarded $1,498,159 in support to 52 organizations.
| Grant Recipient | Amount |
|---|---|
PURSUIT TRANSFORMATION COMPANY INC PURPOSE: CRP BACK TO BUSINESS - SEE PART VIII-A | $200,000 |
ISITA TRIPATHI PURPOSE: SAMVID SCHOLARS SCHOLARSHIP - SEE PART VIII-A | $50,000 |
HALEY MORIN PURPOSE: SAMVID SCHOLARS SCHOLARSHIP - SEE PART VIII-A | $50,000 |
ANISHA MUDALIAR PURPOSE: SAMVID SCHOLARS SCHOLARSHIP - SEE PART VIII-A | $50,000 |
NATALIE BAKER PURPOSE: SAMVID SCHOLARS SCHOLARSHIP - SEE PART VIII-A | $50,000 |
JUSTINE DESILVA PURPOSE: SAMVID SCHOLARS SCHOLARSHIP - SEE PART VIII-A | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ichauway Inc Newton, GA | $38,010,143 | $29,470,336 |
Elevate Prize Foundation Inc Miami, FL | $25,599,159 | $21,836,715 |
Desai Sethi Foundation Inc miami, FL | $167,397,052 | $1,318,684 |
Mceachern Endowment Fund Inc Powder Springs, GA | $13,981,287 | $6,848,994 |
Malone Family Land Preservation Foundation Hobe Sound, FL | $131,481,954 | $946,463 |
Pebble Hill Foundation Inc Thomasville, GA | $45,568,261 | $2,596,354 |
Worthington Scholarship Foundation Naples, FL | $12,065,797 | $5,368,981 |
The Switzer Family Foundation Inc St Petersburg, FL | $0 | $574,920 |
Bangladesh American Society Of Muslim Aid For Humanity Inc Boca Raton, FL | $701,948 | $2,077,483 |
Elling O Eide Charitable Foundation Inc Sarasota, FL | $66,382,103 | $1,556,208 |
Paul Millsap Foundation Corp Atlanta, GA | $74,268 | $1,325,506 |
Beech Foundation Inc Conyers, GA | $2,116,092 | $45,755 |