Raina K Patel Foundation
- Assets
- $1.6m
- Revenue
- $94.3k
- Investments
- $1.3m
- Employees
- 0
- Location
- Bloomfield Hills, MI
- Founding
- 09/1995
- Data as of
- 12/2021
- EIN
- 38-3246397
Organization Overview
Raina K Patel Foundation is located in Bloomfield Hills, MI. The organization was established in 1995. 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. Raina K 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 12/2021, Raina K Patel Foundation generated $94.3k 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 (6.8%) each year. All expenses for the organization totaled $76.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Raina K Patel Foundation has awarded 17 individual grants totaling $229,162. 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 |
|---|---|---|---|
Raina K Patel Manager | 5 | $50,000 | |
Kirit C Patel Pres/treas | 1 | $0 | |
Malti K Patel Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $16,418 |
| Dividends & Interest | $21,401 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $56,481 |
| Capital Gain Net Income | $56,481 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $94,300 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $50,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $55 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $11,279 |
| Total operating and administrative expenses | $66,125 |
| Contributions, gifts, grants paid | $10,000 |
| Total expenses and disbursements | $76,125 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $315,074 |
| 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 | $99,812 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $50,000 |
| Total assets | $1,625,746 |
| 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, Raina K Patel Foundation has awarded $71,361 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ROTARY EYE INSTITUTE PURPOSE: CHARITABLE ACTIVITIES | $25,000 |
Fairfax Station, VA PURPOSE: CHARITABLE & COMMUNITY SERVICES | $20,000 |
MAI FAMILY SERVICES PURPOSE: CHARITABLE & COMMUNITY SERVICES | $10,000 |
CHHATRAPATI SHIVAJI MAHARAJ VASTU SANGRAHALAYA (CSMVS) PURPOSE: CHARITABLE & CULTURAL ACTIVITIES | $8,420 |
Boonton, NJ PURPOSE: CHARITABLE ACTIVITIES | $7,296 |
Detroit, MI PURPOSE: CHARITABLE & COMMUNITY SERVICES | $645 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Asante Foundation Inc South Bend, IN | $170,490,031 | $16,382,298 |
The Steve & Amy Van Andel Foundation Grand Rapids, MI | $111,040,892 | $8,504,096 |
Deborah Joy Simon Foundation Carmel, IN | $67,791,546 | $8,858,983 |
Hillier Family Foundation Akron, OH | $0 | $3,603,112 |
Wing Shadow Foundation Ada, MI | $89,908,464 | $23,772,931 |
Scripps-Howard Foundation Cincinnati, OH | $57,417,924 | $12,029,094 |
Albert J Weatherhead Estate Trust Uw Item Iv National City Bk Of Cle Mayfield Heights, OH | $171,110,624 | $12,657,241 |
Hummingbird Society Foundation Cincinnati, OH | $175,019 | $103,373 |
Carls Foundation Bloomfield Hills, MI | $120,507,770 | $14,280,001 |
The David And Carol Van Andel Family Foundation Grand Rapids, MI | $107,851,670 | $8,218,571 |
Christ Cares For Kids Foundation Traverse City, MI | $46,569,965 | $9,675,626 |
James J And Joan A Gardner Family Foundation Cincinnati, OH | $68,091,187 | $14,231,664 |