Iit Madras Foundation
- Assets
- $15.5m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 2
- Location
- Cupertino, CA
- Founding
- 02/2015
- Data as of
- 12/2021
- EIN
- 47-1990700
Organization Overview
Iit Madras Foundation is located in Cupertino, CA. The organization was established in 2015. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2021, Iit Madras Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iit Madras 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, Iit Madras Foundation generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $3.3m during the year ending 12/2021. While expenses have increased by 13.1% 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
TO PROMOTE EDUCATION, SCIENTIFIC AND TECHNOLOGICAL RESEARCH ACTIVITIES AT "INDIAN INSTITUTE OF TECHNOLOGY MADRAS".
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE EDUCATION, SCIENTIFIC AND TECHNOLOGICAL RESEARCH ACTIVITIES AT "INDIAN INSTITUTE OF TECHNOLOGY" INCLUDING THE FOLLOWING ACHIEVEMENTS FOR 2021:1) LAUNCH OF WOMEN LEADING IIT MADRAS PROGRAM2) LAUNCH OF A NUMBER OF INSTITUTE CHAIRS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea Monaghan Executive Assis | Officer | 0 | $70,154 |
Philip Thach CFO | Officer | 0 | $36,000 |
Muckai Girish CEO | OfficerTrustee | 30 | $0 |
Diwakar Vishakhadatta Secretary | Officer | 0 | $0 |
Sunil Menon VP Marketng | Officer | 0 | $0 |
Varun Valluri VP & Cto | Officer | 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 | $3,322,334 |
| Noncash contributions included in lines 1a–1f | $252,203 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,322,334 |
| Total Program Service Revenue | $0 |
| Investment income | $221,054 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $87,861 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,631,249 |
| 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 | $3,077,749 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $106,154 |
| Compensation of current officers, directors, key employees. | $71,077 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,882 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,961 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,076 |
| 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 | $528 |
| Total functional expenses | $3,305,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,217,464 |
| Savings and temporary cash investments | $1,352,481 |
| Pledges and grants receivable | $865,062 |
| Accounts receivable, net | $180,000 |
| 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 | $2,875 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $11,926,745 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,544,627 |
| Accounts payable and accrued expenses | $4,577 |
| 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 | $325,640 |
| Total liabilities | $330,217 |
| Net assets without donor restrictions | $4,697,636 |
| Net assets with donor restrictions | $10,516,774 |
| 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 | $15,544,627 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Iit Madras Foundation has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Foundation Source 1410 Inc Wilmington, DE PURPOSE: CLASS OF 1995 ALUMNI BATCH FUNDS | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catholic Community Services Of The Mid Willamette Valley & Central Salem, OR | $4,444,104 | $18,908,977 |
The Davis Street Community Center Incorporated San Leandro, CA | $4,867,189 | $19,457,614 |
Community Action Team Incorporated Of St Helens, OR | $13,623,146 | $18,435,042 |
Outside In Portland, OR | $20,557,070 | $19,364,010 |
Yamhill Community Action Partnership Mcminnville, OR | $6,898,009 | $17,038,077 |
California Human Development Corp Santa Rosa, CA | $9,372,537 | $16,167,799 |
Lutheran Social Services Of Northern California Concord, CA | $7,407,903 | $15,266,538 |
Global Support And Development Redwood City, CA | $35,645,225 | $48,473,756 |
Oregon Human Development Corporation Gresham, OR | $1,006,372 | $15,394,021 |
Louis And Gladyce Foster Family Foundation Stockton, CA | $0 | $100,317 |
Union Of Pan Asian Communities San Diego, CA | $5,542,645 | $15,801,296 |
Psa Behavioral Health Agency Phoenix, AZ | $11,491,382 | $16,032,932 |