Patni Family Foundation Inc
- Assets
- $3.0m
- Revenue
- $177.1k
- Investments
- $3.0m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 03/2012
- Data as of
- 12/2022
- EIN
- 61-1652581
Organization Overview
Patni Family Foundation Inc is located in Wilmington, DE. The organization was established in 2012. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Patni Family 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 12/2022, Patni Family Foundation Inc generated $177.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 33.9% each year . All expenses for the organization totaled $53.7k during the year ending 12/2022. 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
THE FOUNDATION ACCOMPLISHES ITS CHARITABLE PURPOSE SOLELY THROUGH A PROGRAM OF MAKING CHARITABLE GIFTS TO OTHER TAX-EXEMPT NOT FOR PROFIT ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anirudh Patni Director Treasurer | 0 | $0 | |
Poonam Patni Director | 0 | $0 | |
Ambika Patni Director | 0 | $0 | |
Kenneth L Grinnell Assistant Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $5,303 |
| Dividends & Interest | $60,954 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $110,258 |
| Capital Gain Net Income | $110,258 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $597 |
| Total Revenue | $177,112 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $40,240 |
| Total operating and administrative expenses | $50,190 |
| Contributions, gifts, grants paid | $3,501 |
| Total expenses and disbursements | $53,691 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,502 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,049,654 |
| 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, Patni Family Foundation Inc has awarded $3,501 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
INTERNATIONAL MAHAVIRA JAIN MISSION PURPOSE: GENERAL PURPOSE | $1,501 |
WOMEN'S LUNCH PLACE PURPOSE: GENERAL PURPOSE GRANT | $2,000 |