Sonecha Family Foundation
- Assets
- $7.2m
- Revenue
- $1.6m
- Investments
- $3.1m
- Employees
- 0
- Location
- Newark, DE
- Founding
- 06/2008
- Data as of
- 12/2021
- EIN
- 75-3206038
Organization Overview
Sonecha Family Foundation is located in Newark, DE. The organization was established in 2008. 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. Sonecha Family 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, Sonecha Family Foundation generated $1.6m in total revenue. All expenses for the organization totaled $193.4k during the year ending 12/2021. While expenses have increased by 26.4% 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.
Since 2015, Sonecha Family Foundation has awarded 36 individual grants totaling $789,000. 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 |
|---|---|---|---|
Jay Sonecha Trustee | 1 | $0 | |
Kashmira Sonecha Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,500,000 |
| Interest on Savings | $1,221 |
| Dividends & Interest | $41,433 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $57,018 |
| Capital Gain Net Income | $57,018 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $842 |
| Total Revenue | $1,600,514 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $25 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,364 |
| Total operating and administrative expenses | $3,389 |
| Contributions, gifts, grants paid | $190,000 |
| Total expenses and disbursements | $193,389 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,357 |
| Savings and temporary cash investments | $4,076,648 |
| 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 | $3,050,370 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,168,375 |
| 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, Sonecha Family Foundation has awarded $190,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Wilmington, DE PURPOSE: SUPPORT OF ORGANIZATION'S ACTIVITIES | $50,000 |
Philadelphia, PA PURPOSE: SUPPORT OF ORGANIZATION'S ACTIVITIES | $50,000 |
SHARE & CARE FOUNDATION PURPOSE: SUPPORT OF ORGANIZATION'S ACTIVITIES | $50,000 |
Newark, DE PURPOSE: SUPPORT OF ORGANIZATION'S ACTIVITIES | $35,000 |
KRISTOF IMPACT - HIMALAYAN CATARACT PROJECT PURPOSE: SUPPORT OF ORGANIZATION'S ACTIVITIES | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sonecha Family Foundation has recieved totaling $373,503.
| Awarding Organization | Amount |
|---|---|
Sonecha Foundation Newark, DE PURPOSE: SUPPORT OF THE ORGANIZATIONS ACTIVITIES | $373,503 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Johnson & Johnson Foundation United States Inc New Brunswick, NJ | $130,108,063 | $92,858,448 |
Diana Davis Spencer Foundation Bethesda, MD | $1,510,145,435 | $31,448,274 |
Davis Family Foundation Hanover, MD | $1,302,672,743 | $64,475,559 |
Walder Family Foundation Wilmington, DE | $215,951,796 | $11,130,940 |
Maguire Foundation West Conshohocken, PA | $0 | $10,846,953 |
Mabel Pew Myrin Trust Philadelphia, PA | $417,886,148 | $39,075,922 |
Max Stenbeck Foundation Wilmington, DE | $3,203,232 | $39,728,528 |
Neubauer Family Foundation Philadelphia, PA | $348,008,962 | $28,614,405 |
Quantitative Foundation Philadelphia, PA | $101,541,098 | -$10,401,387 |
J N Pew Jr Charitable Trust Philadelphia, PA | $309,649,040 | $25,152,087 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |