Iitkgp Foundation
- Assets
- $2.5m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Omaha, NE
- Founding
- 07/1992
- Data as of
- 12/2021
- EIN
- 47-0747227
Organization Overview
Iitkgp Foundation is located in Omaha, NE. The organization was established in 1992. According to its NTEE Classification (Q20) the organization is classified as: Promotion of International Understanding, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iitkgp 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, Iitkgp Foundation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $878.5k during the year ending 12/2021. While expenses have increased by 8.1% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE IITKGP FOUNDATION IS A NON-PROFIT ORGANIZATION DEVOTED TO ENHANCING THE CAPABILITY OF THE INDIAN INSTITUTE OF TECHNOLOGY, KHARAGPUR, INDIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE IITKGP FOUNDATION PURCHASED THIRTY OXYGEN CONCENTRATORS THAT WERESENT TO IIT-KHARAGPUR'S B C ROY HOSPITAL TO HELP SUCCESSFULLY HANDLE THE IMMENSE OXYGEN CRISIS ASSOCIATED WITH THE SECOND WAVE OF COVID-19THAT IMPACTED INDIA. THE APPROXIMATE COST WAS $30,000. ADDITIONALLY, THE GRADUATING BATCH OF 1993 CONTRIBUTED $20,000 TO PROMOTE RESEARCHAND DEVELOPMENT TO GENERATE AN INDIGENOUSLY CREATED OXYGEN CONCENTRATOR. ALSO, THE "KGP ALUMNI FUND FOR COVID-19" HELPED THE ECONOMICALLY AFFECTED WORKERS LIVING AROUND CAMPUS AND ADDITIONAL AID EFFORTS TOTALED NEAR $25,000.
THE A C PANDYA STUDENTS' ACTIVITY CENTRE" WAS INITIATED IN FEBRUARY 2021 AT IIT-KHARAGPUR. THE CENTER WILL ACT AS A PLACE FOR STUDENTS OF THE DEPARTMENT OF AGRICULTURAL & FOOD ENGINEERING TO SIT, HANGOUT, AND HAVE A SNACK OR TEA BEFORE OR AFTER THEIR COURSES. THE CENTRE, WHICH WAS NAMED IN THE MEMORY OF THE FIRST HEAD PROFESSOR IN THE DEPARTMENT, PROF. A C. PANDYA, WAS INSTALLED AT A COST OF APPROXIMATELY $100,000.
THE "DR. PHANINDRANATH MUKHERJEE AND MRS. SAGARIKA MUKHERJEE AWARDS"WERE ESTABLISHED BY DONOR SATYENDRANATH MUKHERJEE, A 1976 GRADUATEOF IIT-KHARAGPUR, IN HONOR OF HIS PARENTS. THEY WILL BE AWARDED EVERYYEAR TO ONE FEMALE AND ONE MALE STUDENT FROM ANY DEPARTMENT, SCHOOL, CENTER, OR ACADEMY AT IIT-KGP AND WILL PLACE AN EMPHASIS ON THE AREASOF LEADERSHIP AND COMMUNITY SERVICE CARRIED OUT BY THE STUDENT AWARDEES. THE COSTS TO ENDOW THIS AWARD WERE APPROXIMATELY $95,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rakesh Gupta Treasurer | OfficerTrustee | 0 | $0 |
Asoke Deysarkar President | OfficerTrustee | 0 | $0 |
Vinod Gupta Trustee | Trustee | 0 | $0 |
Ron Gupta Trustee | Trustee | 0 | $0 |
Arjun Malhotra Trustee | Trustee | 0 | $0 |
Roy Dasilva Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,339,581 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,339,581 |
| Total Program Service Revenue | $0 |
| Investment income | $21,195 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $44,516 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,432,256 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $792,733 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $60,279 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,995 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $878,504 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,672 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,347,706 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,505,378 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,327,785 |
| Net assets with donor restrictions | $1,177,593 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,505,378 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Iitkgp Foundation has recieved totaling $139,391.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: INTERNATIONAL, FOREIGN AFFAIRS | $106,250 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $23,141 |
American Endowment Foundation Hudson, OH PURPOSE: INTERNATIONAL | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
One Earth Future Foundation Inc Louisville, CO | $32,439,797 | $15,055,056 |
La Napoule Art Foundation-Henry Clews Memorial Denver, CO | $2,950,593 | $634,903 |
Iitkgp Foundation Omaha, NE | $2,505,378 | $1,432,256 |
Rocky Mountain World Trade Center Institute Denver, CO | $429,481 | $884,267 |
Iowa Council For International Understanding Des Moines, IA | $94,867 | $504,179 |
Global Ties Kc Inc Kansas City, MO | $457,247 | $330,597 |
Focus International Inc Wichita, KS | $189,341 | $406,961 |
The Americas Association For The Care Of Children Boulder, CO | $168,530 | $428,415 |
Ecumenical Project For International Cooperation Inc Allenspark, CO | $830,616 | $335,237 |
International Relations Council Kansas City, MO | $1,033,799 | $262,574 |
Japan America Society Of Colorado Denver, CO | $361,589 | $280,295 |
Manhattan His Association Manhattan, KS | $25,185 | $0 |