Dr Prem Reddy Family Foundation
- Assets
- $59.6m
- Revenue
- $7.6m
- Investments
- $40.2m
- Employees
- 0
- Location
- Victorville, CA
- Founding
- 01/1992
- Data as of
- 12/2021
- EIN
- 33-0486173
Organization Overview
Dr Prem Reddy Family Foundation is located in Victorville, CA. The organization was established in 1992. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dr Prem Reddy Family 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, Dr Prem Reddy Family Foundation generated $7.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 52.5% each year . All expenses for the organization totaled $2.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Dr Prem Reddy Family Foundation has awarded 163 individual grants totaling $5,268,688. 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 |
|---|---|---|---|
Prem Reddy MD President And Director | 2 | $0 | |
Sunitha Reddy Director | 2 | $0 | |
Kavitha Reddy Bhatia MD Secretary/cfo And Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $650 |
| Interest on Savings | $4,978 |
| Dividends & Interest | $1,325,192 |
| Net Rental Income | $12,243 |
| Net Gain on Sale of Assets | $6,234,109 |
| Capital Gain Net Income | $5,762,832 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $18,128 |
| Other Income | $139 |
| Total Revenue | $7,595,439 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $308,681 |
| Depreciation | $15,166 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,719 |
| Printing and publications | $155 |
| Other expenses | $61,969 |
| Total operating and administrative expenses | $608,069 |
| Contributions, gifts, grants paid | $1,929,093 |
| Total expenses and disbursements | $2,537,162 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,694,861 |
| 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 | $9,146 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $16,784,360 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,745,147 |
| Net Land, buildings, and equipment | $998,192 |
| Other assets | $0 |
| Total assets | $59,640,803 |
| Accounts payable and accrued expenses | $15,373 |
| 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 | $15,373 |
Grants Awarded
Over the last fiscal year, Dr Prem Reddy Family Foundation has awarded $1,929,093 in support to 86 organizations.
| Grant Recipient | Amount |
|---|---|
Ontario, CA PURPOSE: GENERAL CONTRIBUTION | $1,340,000 |
Victorville, CA PURPOSE: GENERAL CONTRIBUTION | $250,000 |
NORTH AMERICAN TELUGU ASSOCIATIONS INC PURPOSE: GENERAL CONTRIBUTION | $175,000 |
Oak Brook, IL PURPOSE: GENERAL CONTRIBUTION | $40,000 |
STUDENT 44 LA SIERRA UNIVERSITY PURPOSE: GRANT TO INDIVIDUAL FOR STUDY | $8,365 |
STUDENT 45 LA SIERRA UNIVERSITY PURPOSE: GRANT TO INDIVIDUAL FOR STUDY | $7,213 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Autry Museum Of The American West Los Angeles, CA | $221,261,500 | $7,406,490 |
Computer History Museum Mountain View, CA | $71,401,475 | $10,596,016 |
Bishop Museum Honolulu, HI | $80,582,452 | $14,106,624 |
Foundation Of The American Academy Of Ophthalmology San Francisco, CA | $169,457,779 | $13,944,505 |
Walt Disney Family Museum San Francisco, CA | $56,560,090 | $13,004,601 |
Contemporary Jewish Museum San Francisco, CA | $89,973,935 | $6,215,554 |
Wjo Foundation Los Angeles, CA | $40,838,683 | $19,917,813 |
Council On American-Islamic Relations California Anaheim, CA | $15,557,872 | $7,778,802 |
Pacific Battleship Center San Pedro, CA | $7,123,238 | $6,518,959 |
Swc Museum Corp Los Angeles, CA | $185,291,567 | $7,296,634 |
Eames Institute Petaluma, CA | $18,964,312 | $22,211,223 |
Palm Springs Air Museum Inc Palm Springs, CA | $20,548,882 | $5,160,584 |