Jibaben Patel Foundation
- Assets
- $5.7m
- Revenue
- $386.9k
- Investments
- $5.3m
- Employees
- 0
- Location
- Huntington Beach, CA
- Founding
- 12/2010
- Data as of
- 12/2023
- EIN
- 27-4346242
Organization Overview
Jibaben Patel Foundation is located in Huntington Beach, CA. The organization was established in 2010. According to its NTEE Classification (T30) the organization is classified as: Public 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. Jibaben Patel 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, Jibaben Patel Foundation generated $386.9k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $39.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (13.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Jibaben Patel Foundation has awarded 25 individual grants totaling $1,492,352. 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 |
|---|---|---|---|
Jagdish Patel President | 1 | $0 | |
Harsha Patel Director | 1 | $0 | |
Masumi Patel Director | 1 | $0 | |
Tapti Patel Director | 1 | $0 | |
Anish Patel Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $150,000 |
| Interest on Savings | $71 |
| Dividends & Interest | $50,207 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $201,298 |
| Capital Gain Net Income | $201,298 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$14,629 |
| Total Revenue | $386,947 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,841 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $12,168 |
| Printing and publications | $0 |
| Other expenses | $2,327 |
| Total operating and administrative expenses | $21,036 |
| Contributions, gifts, grants paid | $18,110 |
| Total expenses and disbursements | $39,146 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $407,716 |
| 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 | $5,287,796 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,695,512 |
| 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, Jibaben Patel Foundation has awarded $18,110 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
THE H4H FOUNDATION PURPOSE: GENERAL OPERATIONS SUPPORT | $2,000 |
GUJARATIS OF NORTH AMERICA PURPOSE: GENERAL OPERATIONS SUPPORT | $6,010 |
INDO-AMERICAN SERNIOR HERITAGE PURPOSE: GENERAL OPERATIONS SUPPORT | $100 |
VAISHNAV SAMAJ OF SO CAL PURPOSE: GENERAL OPERATIONS SUPPORT | $5,000 |
JOY OF HELPING PURPOSE: GENERAL OPERATIONS SUPPORT | $5,000 |