The Merali Foundation
- Assets
- $7.1m
- Revenue
- $257.6k
- Investments
- $4.2m
- Employees
- 0
- Location
- Rapid City, SD
- Founding
- 10/2009
- Data as of
- 12/2021
- 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 12/2021, Merali Foundation generated $257.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.9% each year . All expenses for the organization totaled $418.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Merali Foundation has awarded 24 individual grants totaling $2,222,283. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mehdi Merali Vice President & Director | 30 | $41,667 | |
Karim Merali President | 5 | $25,000 | |
Azim Merali Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $21,463 |
| Dividends & Interest | $162,066 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $48,466 |
| Capital Gain Net Income | $48,466 |
| Net ST Capital Gain | $1,374 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $25,592 |
| Total Revenue | $257,587 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $66,667 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,331 |
| Depreciation | $0 |
| Occupancy | $3,120 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $321 |
| Total operating and administrative expenses | $116,739 |
| Contributions, gifts, grants paid | $301,572 |
| Total expenses and disbursements | $418,311 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $168,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,701,608 |
| Total assets | $7,085,620 |
| 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 | $5,915 |
| Total liabilities | $5,915 |
Grants Awarded
Over the last fiscal year, The Merali Foundation has awarded $301,572 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Mountain View, CA PURPOSE: DEVELOP REGENERATIVE MEDICINE SOLUTIONS | $240,000 |
THE ASIA FOUNDATION PURPOSE: FINANCE EDUCATION FOR WOMEN IN DEVELOPING COUNTRIE | $30,000 |
FOUNDATION TO SUPPORT EDUCATION PURPOSE: FINANCE EDUCATION FOR WOMEN IN DEVELOPING COUTRIES | $17,900 |
ZORIG FOUNDATION PURPOSE: FINANCE EDUCATION FOR WOMEN IN DEVELOPING COUNTRIE | $13,672 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
Walter Scott Family Foundation Omaha, NE | $596,551,475 | $88,689,053 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Dennis R Washington Foundation Inc Missoula, MT | $1,024,973,213 | $135,352,040 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Buffett Early Childhood Fund Omaha, NE | $9,728,090 | $31,407,344 |
Manitou Fund White Bear Lake, MN | $1,003,593,689 | $40,882,622 |
Lynne & Andrew Redleaf Foundation Minneapolis, MN | $127,717,345 | $981,960 |
Northwest Area Foundation St Paul, MN | $512,755,007 | $38,144,816 |
Medtronic Communities Foundation Minneapolis, MN | $54,271,830 | $230,239 |
General Mills Foundation Minneapolis, MN | $0 | -$304,053 |
J A Wedum Foundation Plymouth, MN | $141,295,178 | $28,441,684 |