Foundation For Promotion Of Sports And Games
- Assets
- $698.0k
- Revenue
- $529.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Gatos, CA
- Founding
- 09/2014
- Data as of
- 03/2022
- EIN
- 98-1139364
Organization Overview
Foundation For Promotion Of Sports And Games is located in Los Gatos, CA. The organization was established in 2014. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Foundation For Promotion Of Sports And Games is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP PROMOTE SPORTS AND GAMES
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTING ATHLETES WITH POTENTIALS TO WIN OLYMPIC GOLD MEDALS BY COACHING, TRAINING, HIRING PHYSIOTHERAPISTS, PSYCHOLOGISTS AND OUTSIDE COACHES IN ORDER TO NURTURE THEM INTO HIGHLY COMPETETIVE PARTICIPANTS IN OLYMPIC GAMES. THE FOUNDATION ALSO PROVIDES FINANCIAL MEANS TO THE ATHLETES TO COVER PROGRAM-RELATED EXPENSES SUCH AS, BUT NOT LIMITED TO, SPORTS EQUIPMENT, LODGING, TRAVELLING, APPLICATION FEES, AND ETC. THE FOUNDATION ALSO CONDUCTS PUBLIC EVENTS TO RAISE SPORT AWARENESS AND EVENTUALLY, TO ATTRACT NEW POTENTIALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Viren Rasquinha Director & CEO | OfficerTrustee | 2 | $0 |
Dipak Basu Director & Secretary | OfficerTrustee | 2 | $0 |
Geet Sethi Director | Trustee | 2 | $0 |
Prakash Padukone Director | Trustee | 2 | $0 |
Neeraj Bharadwaj Director | Trustee | 2 | $0 |
Neeraj Arora Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $527,366 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $527,366 |
| Total Program Service Revenue | $0 |
| Investment income | $124 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,534 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $529,024 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $201,000 |
| 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 | $4,116 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $213,397 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $648,295 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $49,736 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $698,031 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $698,031 |
| Net assets with donor restrictions | $0 |
| 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 | $698,031 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Foundation For Promotion Of Sports And Games has recieved totaling $150,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $120,000 |
Srs Family Foundation Inc Florham Park, NJ PURPOSE: GENERAL UNRESTRICTED | $20,000 |
Jagadeesh Family Foundation Saratoga, CA PURPOSE: GENERAL OPERATING BUDGET | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fiesta Events Inc Scottsdale, AZ | $1,392,711 | $3,617,988 |
Chrims Inc Pleasanton, CA | $2,291,347 | $3,960,198 |
Santa Barbara Bowl Foundation Santa Barbara, CA | $45,351,353 | $2,991,318 |
Next Level Sports Foundation Inc San Mateo, CA | $280,995 | $2,705,458 |
Mountain View Volleyball Club Inc Sunnyvale, CA | $1,509,696 | $2,260,861 |
Rancho Penasquitos Tennis Association Inc San Diego, CA | $250,274 | $1,054,878 |
Niroga Institute Oakland, CA | $1,448,483 | $1,552,180 |
World Players Of Handball Foundation Tucson, AZ | $166,054 | $872,973 |
Crpa Foundation Fullerton, CA | $2,336,355 | $680,661 |
Bay Area Womens Sports Initiative Inc San Jose, CA | $1,221,193 | $1,319,678 |
Richmond Police Activities League Richmond, CA | $6,109,978 | $845,284 |
Bikeshare Hawaii Honolulu, HI | $1,024,934 | $346,147 |