The Merali Foundation
- Assets
- $7.2m
- Revenue
- $206.3k
- Investments
- $4.1m
- Employees
- 0
- Location
- Rapid City, SD
- Founding
- 10/2009
- Data as of
- 12/2022
- EIN
- 26-0875013
Organization Overview
The Merali Foundation is located in Rapid City, SD. The organization was established in 2009. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Merali 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 12/2022, Merali Foundation generated $206.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $300.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Merali Foundation has awarded 28 individual grants totaling $2,435,549. 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 |
|---|---|---|---|
Karim Merali President | 5 | $0 | |
Mehdi Merali Vice President & Director | 30 | $40,000 | |
Azim Merali Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $21,041 |
| Dividends & Interest | $88,281 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $36,889 |
| Capital Gain Net Income | $36,889 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $60,118 |
| Total Revenue | $206,329 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $40,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,012 |
| Depreciation | $0 |
| Occupancy | $1,320 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $51 |
| Total operating and administrative expenses | $87,455 |
| Contributions, gifts, grants paid | $213,266 |
| Total expenses and disbursements | $300,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $208,451 |
| 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 | $168,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,711,787 |
| Total assets | $7,163,536 |
| 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 | $2,460 |
| Total liabilities | $2,460 |
Grants Awarded
Over the last fiscal year, The Merali Foundation has awarded $213,266 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
THE ASIA FOUNDATION PURPOSE: FINANCE EDUCATION FOR WOMEN IN DEVELOPING COUNTRIE | $100,000 |
ZORIG FOUNDATION PURPOSE: FINANCE EDUCATION FOR WOMEN IN DEVELOPING COUNTRIE | $75,366 |
FOUNDATION TO SUPPORT EDUCATION PURPOSE: FINANCE EDUCATION FOR WOMEN IN DEVELOPING COUTRIES | $17,900 |
THE NAGOURNEY INSTITUTE PURPOSE: CANCER RESEARCH AND TREATMENT CENTER | $20,000 |