Light The Candle Foundation Inc
- Assets
- $1.4m
- Revenue
- $190.0k
- Investments
- $928.3k
- Employees
- 0
- Location
- Tampa, FL
- Founding
- 06/2015
- Data as of
- 12/2023
- EIN
- 47-3476415
Organization Overview
Light The Candle Foundation Inc is located in Tampa, FL. The organization was established in 2015. 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. Light The Candle Foundation Inc 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 12/2023, Light The Candle Foundation Inc generated $190.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.4%) each year. All expenses for the organization totaled $20.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (8.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Light The Candle Foundation Inc has awarded 68 individual grants totaling $372,316. 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 |
|---|---|---|---|
Saurabh K Chokshi President | 5 | $0 | |
Sheela S Chokshi Secy/treas | 5 | $0 | |
Shashin S Chokshi Director | 1 | $0 | |
Sonia S Chokshi Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $99,956 |
| Interest on Savings | $5 |
| Dividends & Interest | $90,045 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $190,006 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,224 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5 |
| Total operating and administrative expenses | $4,679 |
| Contributions, gifts, grants paid | $15,908 |
| Total expenses and disbursements | $20,587 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,109 |
| Savings and temporary cash investments | $460,047 |
| 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 | $338,534 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,412,492 |
| Accounts payable and accrued expenses | $175 |
| 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 | $175 |
Grants Awarded
Over the last fiscal year, Light The Candle Foundation Inc has awarded $15,908 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
AIM FOR SEVA PURPOSE: CHILDRENS SERVICES | $1,000 |
ITT BOMBAY HERITAGE PURPOSE: EDUCATION/RESEARCH | $5,000 |
CO SOLVE COLLECTIVE PURPOSE: SOCIAL/ECOLOGICAL | $5,000 |
HINDU SAMAJ MANDIR PURPOSE: SPIRITUALL/SOCIAL/CULTURAL | $600 |
ISKCON TAMPA PURPOSE: SPIRITUALL/SOCIAL/CULTURAL | $1,000 |
HINDU AMERICAN FOUNDATION PURPOSE: SPIRITUAL/SOCIAL/CULTURAL | $2,000 |