Drs Kiran & Pallavi Patel Familyfoundation Inc
- Assets
- $44.2m
- Revenue
- $94.5k
- Investments
- $12.2m
- Employees
- 0
- Location
- Tampa, FL
- Founding
- 11/2006
- Data as of
- 06/2023
- EIN
- 20-3916634
Organization Overview
Drs Kiran & Pallavi Patel Familyfoundation Inc is located in Tampa, FL. The organization was established in 2006. 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. Drs Kiran & Pallavi Patel Familyfoundation 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 06/2023, Drs Kiran & Pallavi Patel Familyfoundation Inc generated $94.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (21.5%) each year. All expenses for the organization totaled $8.1m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Drs Kiran & Pallavi Patel Familyfoundation Inc has awarded 152 individual grants totaling $23,518,210. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
SHAW ELEMENTARY LEARNING CENTERS SEE WEBSITE FOR PROGRAM DETAILS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pallavi C Patel MD President | 0 | $0 | |
Shilen Patel V President | 0 | $0 | |
Kiran C Patel MD Sec/treas | 0 | $0 | |
Sonali Judd Trustee | 0 | $0 | |
Sheetal Patel Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $7,300 |
| Interest on Savings | $376,111 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $148,289 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$437,220 |
| Total Revenue | $94,480 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $274,667 |
| Taxes | $425 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $476 |
| Other expenses | $6,962,617 |
| Total operating and administrative expenses | $7,239,925 |
| Contributions, gifts, grants paid | $872,500 |
| Total expenses and disbursements | $8,112,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $341,146 |
| Savings and temporary cash investments | $0 |
| 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 | $12,175,513 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $31,673,970 |
| Total assets | $44,190,629 |
| Accounts payable and accrued expenses | $516 |
| 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 | $1,400,000 |
| Total liabilities | $1,400,516 |
Grants Awarded
Over the last fiscal year, Drs Kiran & Pallavi Patel Familyfoundation Inc has awarded $872,500 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
USF FOUNDATION PURPOSE: PROGRAMS | $505,000 |
JAIN SOCIETY PURPOSE: PROGRAMS | $75,000 |
AFRICAN COLLEGE FUND PURPOSE: PROGRAMS | $40,000 |
HUAN SERVICE TRUST ZAMBIA PURPOSE: PROGRAMS | $20,000 |
SHERIFF'S INDIAN ADVISORY COUNCIL PURPOSE: PROGRAMS | $2,500 |
TIE TAMPA BAY ANGLE FUND LP PURPOSE: PROGRAMS | $15,000 |