The Chirag Foundation
- Assets
- $13.5m
- Revenue
- $1.7m
- Investments
- $12.0m
- Employees
- 0
- Location
- Carlisle, MA
- Founding
- 02/2001
- Data as of
- 12/2023
- EIN
- 04-6902382
Organization Overview
The Chirag Foundation is located in Carlisle, MA. The organization was established in 2001. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Chirag 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 12/2023, Chirag Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Chirag Foundation has awarded 75 individual grants totaling $3,478,914. 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 |
|---|---|---|---|
Anil Singhal Trustee | 1 | $0 | |
Abha Singhal Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,313,064 |
| Interest on Savings | $27,710 |
| Dividends & Interest | $135,826 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $196,918 |
| Capital Gain Net Income | $196,918 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,673,518 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,067 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $612 |
| Total operating and administrative expenses | $52,334 |
| Contributions, gifts, grants paid | $1,054,236 |
| Total expenses and disbursements | $1,106,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $514,366 |
| 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 | $1,000,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $11,953,136 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $13,467,502 |
| 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, The Chirag Foundation has awarded $1,054,236 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
BOSTON HIGHER EDUCATION RESOURCE CENTER PURPOSE: VARIOUS | $60,000 |
LAWRENCE COMMUNITY WORKS PURPOSE: VARIOUS | $80,000 |
PARDADA PARDADI PURPOSE: PARDADA PARDADI | $130,692 |
PLANNED PARENTHOOD LEAGUE OF MASSACHUSETTS INC PURPOSE: VARIOUS | $150,000 |
IDEA PURPOSE: VARIOUS | $60,000 |
NEIGHBORHOOD VILLAGES PURPOSE: VARIOUS | $30,000 |