Shah Charitable Foundation
- Assets
- $92.8m
- Revenue
- $25.1m
- Investments
- $75.9m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 07/2017
- Data as of
- 12/2021
- EIN
- 81-5082563
The information for Shah Charitable Foundation is as of the organization's most recent filing in December '21. This organization is located in Boston, MA. It has been in existence for 4 years, following its founding in 2017.
Organization Classification
The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.
The Shah Charitable Foundation's NTEE code is T20. This means that the organization is classified under Philanthropy, Voluntarism & Grantmaking Foundations. As a Private Grantmaking Foundation, the Shah Charitable Foundation is a nongovernmental, nonprofit organization that receives funds from a single source and manages programs through its own trustees or directors. Its main purpose is to maintain or aid social, educational, religious, or other charitable activities that serve the common welfare, primarily through grantmaking. Additionally, the Shah Charitable Foundation is classified as a 501(c)(3) organization, meaning it is engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work, as defined by the Internal Revenue Code.
Program Areas
Within the general fund, the organization provides support to innovative and transformative work in education, healthcare, and the community. The foundation's focus is primarily centered in Boston. In 2021, the foundation supported the Boston Public Schools by providing research and equipment to enable healthy lunches for students. Additionally, the foundation assisted with the expansion of the Boston Public Schools My Way Cafe Food and Nutrition Program. These activities fall under the general fund as they are not specifically reported by another fund or program.
Grant History
Our dataset includes four years of grant history for the Shah Charitable Foundation. Over this period, they have awarded a total of 38 grants, with an average check size of $85,774. On average, the foundation awards 10 grants each year. The grants have been distributed across various sectors, with the highest number of awards in the Education sector (3), followed by Health Care (2), and Voluntary Health Associations & Medical Disciplines (1). In terms of geographical distribution, the majority of grants were awarded in Massachusetts (30), with smaller numbers in California (2), New York (2), Illinois (1), Texas (1), and Colorado (2).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ross Wilson Manager | 40 | $447,386 | |
Josh Block Communications Direc | 40 | $127,568 | |
Eliza Novick Analyst | 40 | $120,859 | |
Sarah Mckitterick Project Manager | 40 | $111,843 | |
Michael Madigan Project Manager | 40 | $79,900 | |
Samantha Pardo Office & Events Coor | 40 | $65,601 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
David Ledger | 12/30/21 | $130,000 |
Melea Atkins | 12/30/21 | $93,139 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $19,922,210 |
| Interest on Savings | $9,460 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,160,252 |
| Capital Gain Net Income | $6,788,679 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $25,091,922 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $447,386 |
| Other employee salaries and wages | $765,050 |
| Pension plans, employee benefits | $169,443 |
| Interest | $0 |
| Taxes | $285,156 |
| Depreciation | $1,295 |
| Occupancy | $57,650 |
| Travel, conferences, and meetings | $8,699 |
| Printing and publications | $0 |
| Other expenses | $1,648,633 |
| Total operating and administrative expenses | $3,483,289 |
| Contributions, gifts, grants paid | $1,870,248 |
| Total expenses and disbursements | $5,353,537 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,714,540 |
| 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 | $515,291 |
| Net Land, buildings, and equipment | $154,105 |
| Other assets | $0 |
| Total assets | $92,794,114 |
| 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, Shah Charitable Foundation has awarded $1,870,248 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF CHELSEA PURPOSE: GENERAL PURPOSE | $1,300,000 |
I2 LEARNING FOUNDATION PURPOSE: GENERAL PURPOSE | $425,000 |
CITY OF BOSTON PURPOSE: GENERAL PURPOSE | $96,685 |
NEW ENGLAND PATRIOTS FOUNDATION PURPOSE: GENERAL PURPOSE | $25,000 |
Franklin, MA PURPOSE: GENERAL PURPOSE | $12,600 |
REHEARSAL FOR LIFE PURPOSE: GENERAL PURPOSE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Eastern Bank Charitable Foundation Lynn, MA | $286,575,476 | $18,352,628 |
G Harold And Leila Mathers Charitable Foundation Rye Brook, NY | $96,045,942 | $16,941,265 |
Elms Foundation Providence, RI | $0 | -$22,907 |
Thomas L Kempner Jr Foundation Inc Southampton, NY | $328,355,645 | $44,754,721 |