Lachimi Foundation
- Assets
- $15.7m
- Revenue
- $5.4m
- Investments
- $15.2m
- Employees
- 0
- Location
- Troy, MI
- Founding
- 12/1999
- Data as of
- 12/2022
- EIN
- 38-3429963
Organization Overview
Lachimi Foundation is located in Troy, MI. The organization was established in 1999. 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. Lachimi 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, Lachimi Foundation generated $5.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $7.1m during the year ending 12/2022. While expenses have increased by 8.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAHAJ MARG SPIRITUALITY FOUNDATION - RELIGIOUS, SPIRITUAL & EDUCATIONAL ACTIVITIES
WALSH COLLEGE - EDUCATIONAL
SHRI RAM CHANDRA MISSION RELIGIOUS, SPIRITUAL & EDUCATIONAL ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Madhava G Reddy President | 2 | $0 | |
Sobha Reddy Director | 1 | $0 | |
Teja Reddy Director | 1 | $0 | |
Keshav Reddy Director | 1 | $0 | |
Adarsh Reddy Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,000,000 |
| Interest on Savings | $28,682 |
| Dividends & Interest | $355,064 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$10,677 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,373,069 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $12,672 |
| Taxes | $31,314 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $70,859 |
| Total operating and administrative expenses | $114,845 |
| Contributions, gifts, grants paid | $7,000,000 |
| Total expenses and disbursements | $7,114,845 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $256,302 |
| 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 | $15,247,094 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $200,000 |
| Total assets | $15,703,396 |
| 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, Lachimi Foundation has awarded $5,010,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SAHAJ MARG SPIRITUALITY FOUNDATION PURPOSE: RELIGIOUS, SPIRITUAL, CULTURAL & EDUCATIONAL | $5,000,000 |
WALSH COLLEGE PURPOSE: EDUCATIONAL | $10,000 |