Iit Bombay Heritage Foundation
- Assets
- $11.2m
- Revenue
- $5.5m
- Investments
- $147.9k
- Employees
- 0
- Location
- Cupertino, CA
- Founding
- 06/1996
- Data as of
- 12/2021
- EIN
- 77-0428724
Organization Overview
Iit Bombay Heritage Foundation is located in Cupertino, CA. The organization was established in 1996. According to its NTEE Classification (Q11) the organization is classified as: Single Organization Support, 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. Iit Bombay Heritage 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 Bombay Heritage Foundation generated $5.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.9% each year . All expenses for the organization totaled $3.8m during the year ending 12/2021. While expenses have increased by 0.9% 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 IIT BOMBAY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS SERVICES ACCOMPLISHMENT INCLUDE THE FOLLOWING GRANTS TO IIT BOMBAY FROM THE IIT BOMBAY HERITAGE FOUNDATION IN 2020SCHOLARSHIPS, EXCELLENCE AWARDS & CHAIRSOVER 544 CONTINUING ENDOWED SCHOLARSHIPS AS WELL AS NUMEROUS CHAIR PROFESSORSHIPS WERE AWARDED IN 2020.38 NEW NAMED SCHOLARSHIP AWARDS FOR STUDENTS IN VARIOUS DEPARTMENTS.A GRANT WAS MADE TO SUPPORT THE FINANCIAL AID PROGRAM (FAP). A GRANT WAS MADE TOWARDS THE HIMANSHU PATEL CHAIR FOR APPLIED BIOSCIENCES AT IIT BOMBAY.FACULTY AND STUDENT DEVELOPMENT GRANTS A GRANT WAS MADE TO SUPPORT THE IITBHF EVERY IITB STUDENT ONLINE INITIATIVE/COVID-19 ASSISTANCE REMOTE LEARNING PROJECT AT IIT BOMBAY A GRANT WAS MADE TO SUPPORT THE STUDENT DEVELOPMENT FUNDA GRANT WAS MADE TO SUPPORT THE YOUNG FACULTY AWARDS (YFA)A GRANT WAS MADE TO SUPPORT THE VARADARAJAN AND MYTHILI CHARI FUND TO SUPPORT ECONOMETRICS RESEARCH PROGRAM IN THE HSS DEPARTMENT AT IITB.A GRANT WAS MADE TO SUPPORT THE SUPPORT CENTER FOR POLICY STUDIES DEVELOPMENT FUND AT IIT BOMBAYA GRANT WAS MADE TO SUPPORT THE RETIRED FACULTY WELLNESS FUND AT IIT BOMBAYFACILITIES, EQUIPMENT AND INFRASTRUCTURE DEVELOPMENT GRANTA GRANT WAS MADE TO THE WADHWANI RESEARCH CENTER FOR BIOENGINEERING (WRCB) PHASE II AT IITBA GRANT WAS MADE TO THE WADHWANI ELECTRONICS LAB (WEL) AT IITBA GRANT WAS MADE TO SUPPORT THE UMIC STUDENTS FLIPKART CHALLENGE SPONSORSHIPA GRANT WAS MADE TO SUPPORT THE INVENTION FACTORY PROGRAM MADE POSSIBLE WITH THE FUNDS GRANTED BY THE MAKER BHAVAN FOUNDATIONA GRANT WAS MADE TO THE SHENOY INNOVATION STUDIO AT IIT BOMBAY.A GRANT WAS MADE TO THE BRIJRAJ CHANDRA MANSINGH CHEMICAL INSTRUMENTATION LABORATORY IN THE DEPARTMENT OF CHEMISTRY.A GRANT WAS MADE TO SUPPORT RESEARCH WORK BY PROFESSOR SOUVIK MAHAPATRA, DEPARTMENT OF ELECTRICAL ENGINEERING, AT IIT BOMBAY. THESE FUNDS ARE DESIGNATED FOR THE STUDY OF RELIABILITY IN CMOS LOGIC AND NAND MEMORY DEVICES. THIS GRANT WAS MADE POSSIBLE BY THE CONTRIBUTION RECEIVED FROM THE MICRON FOUNDATION.A GRANT WAS MADE TO SUPPORT SPOKEN TUTORIALS PROJECT CONDUCTED BY IITB.IN THE YEAR 2020, HOSTEL ALUMNI TEAM STEWARDSHIP GRANTS WERE SENT FOR BENEFIT OF HOSTELS, 2, 3, 4, 5, 6, 7, AND 8.A GRANT WAS MADE TO SUPPORT THE CLASS OF 1969 LEGACY PROJECT AT IIT BOMBAYA GRANT WAS MADE TO SUPPORT THE CLASS OF 1986 LEGACY PROJECT AT IIT BOMBAYA GRANT WAS MADE TO SUPPORT THE CLASS OF 1990 LEGACY PROJECT AT IIT BOMBAY A GRANT WAS MADE TO SUPPORT THE CLASS OF 1992 LEGACY PROJECT AT IIT BOMBAY A GRANT WAS MADE TO SUPPORT THE CLASS OF 1993 LEGACY PROJECT AT IIT BOMBAY A GRANT WAS MADE TO SUPPORT THE CLASS OF 1994 LEGACY PROJECT AT IIT BOMBAY A GRANT WAS MADE TO SUPPORT THE CLASS OF 1998 GIFT TO IIT BOMBAY WEB BASED SERVICESIN ADDITION TO THE ABOVE GRANTS, IIT BOMBAY HERITAGE FOUNDATION PROVIDES THE FOLLOWING SERVICES:WEBINARS, CLASS REUNION ACTIVITIES, AND CHAPTER ACTIVITIES HAVE BEEN CONDUCTED ONLINE IN 2020 DUE TO THE COVID-19 PANDEMIC.ALUMNI WEB PORTAL WWW.IITBOMBAY.ORG WHICH IS FEATURE RICH. IT PROVIDES A PLATFORM FOR ALUMNI TO INTERACT INDIVIDUALLY AND AS A GROUP. THE NEW ALUMNI PORTAL ALLOWS ALUMNI TO CONNECT WITH IITB RELATED SOCIAL MEDIA PLATFORMS. FACEBOOK, TWITTER AND LINKEDIN NEWSFEEDS AND LINKS ARE PROVIDED ON THE PLATFORM.GOOGLE ADMINISTERED @IITBOMBAY.ORG MAILBOXES.CHAT ROOMS, BULLETIN BOARDS AND ALUMNI NEEDS SECTION.JOB BOARD ON ALUMNI PORTAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Suhasini Sabnis Treasurer | OfficerTrustee | 7 | $0 |
Shamrao Kattimani Vice Treasurer | OfficerTrustee | 1 | $0 |
Dc Agrawal President | OfficerTrustee | 7 | $0 |
Raj Mashruwala Chairman | OfficerTrustee | 1 | $0 |
Vinay Karle Vice President | OfficerTrustee | 5 | $0 |
Jignesh Patel Director | Trustee | 1 | $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 | $5,065,484 |
| Noncash contributions included in lines 1a–1f | $805,513 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,065,484 |
| Total Program Service Revenue | $346 |
| Investment income | $14,495 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $427,710 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,508,477 |
| 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 | $3,618,076 |
| 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 | $0 |
| Fees for services: Legal | $7,396 |
| Fees for services: Accounting | $6,278 |
| 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 | $2,244 |
| 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 | $6,390 |
| All other expenses | $19,582 |
| Total functional expenses | $3,790,722 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,532,314 |
| Savings and temporary cash investments | $10,628 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $136,851 |
| 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 | $6,284 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,413,780 |
| Investments—other securities | $147,922 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,247,779 |
| Accounts payable and accrued expenses | $26,480 |
| 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 | $26,480 |
| Net assets without donor restrictions | $1,787,002 |
| Net assets with donor restrictions | $9,434,297 |
| 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 | $11,247,779 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Iit Bombay Heritage Foundation has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Lionel & Debra Dluna Family Foundation Irvine, CA PURPOSE: EDUCATIONAL PROGRAM DEVELOPMENT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iit Bombay Heritage Foundation Cupertino, CA | $11,247,779 | $5,508,477 |
Acts Of Mercy Foundation Rancho Santa Margarita, CA | $9,833,426 | $2,106,440 |
International Foundation For Korea University Inc Los Angeles, CA | $598,434 | $2,461,473 |
Spring Impact Incorporated San Francisco, CA | $945,318 | $1,392,102 |
East-West Center Foundation Honolulu, HI | $18,725,557 | $1,487,119 |
Hospital De La Familia Foundation Berkeley, CA | $3,498,616 | $942,980 |
Maranatha Volunteers International Foundation Inc Roseville, CA | $4,379,779 | $384,974 |
Joni And Friends Foundation Agoura Hills, CA | $16,599,678 | $12,470,149 |
Day One Health Inc Redding, CA | $7,087 | $242,175 |
Landmine Relief Fund Van Nuys, CA | $255,144 | $558,242 |
United States University Of Diplomatic Studies Foundation Scottsdale, AZ | $100,864 | $403,713 |
American Friends Of Koret Israel Economic Development Funds San Francisco, CA | $0 | $0 |