Parekh Family Foundation Inc
- Assets
- $966.2k
- Revenue
- $315.2k
- Investments
- $657.4k
- Employees
- 0
- Location
- Montvale, NJ
- Founding
- 08/2018
- Data as of
- 12/2021
- EIN
- 82-3484179
Organization Overview
Parekh Family Foundation Inc is located in Montvale, NJ. The organization was established in 2018. 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. Parekh 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 12/2021, Parekh Family Foundation Inc generated $315.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 41.6% each year . All expenses for the organization totaled $57.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Parekh Family Foundation Inc has awarded 18 individual grants totaling $145,500. 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 |
|---|---|---|---|
Mehandra Parekh President | 1 | $0 | |
Aaron Parekh Secretary & Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $250,000 |
| Interest on Savings | $7 |
| Dividends & Interest | $10,089 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $55,072 |
| Capital Gain Net Income | $55,072 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $315,168 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $6,064 |
| Contributions, gifts, grants paid | $51,000 |
| Total expenses and disbursements | $57,064 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $308,790 |
| 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 | $966,227 |
| 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, Parekh Family Foundation Inc has awarded $51,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Naples, FL PURPOSE: GENERAL PURPOSE GRANT | $25,000 |
Naples, FL PURPOSE: GENERAL PURPOSE GRANT | $10,000 |
NCH CENTER FOR PHILANTHROPY PURPOSE: GENERAL PURPOSE GRANT | $7,500 |
MOST BLESSED SACRAMENT PURPOSE: GENERAL PURPOSE GRANT | $5,000 |
NCH HEALTHCARE SYSTEM PURPOSE: GENERAL PURPOSE GRANT | $1,000 |
Wyckoff, NJ PURPOSE: GENERAL PURPOSE GRANT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Healthcare Foundation Of New Jersey Inc Millburn, NJ | $201,281,752 | $11,925,991 |
Tr Ua 06162003 New York, NY | $24,153,189 | $17,543,623 |
Linlundh Foundation Huntingdon Valley, PA | $26,974,319 | $5,576,892 |
Hamilton Family Charitable Trust Wayne, PA | $141,914,105 | $43,786,350 |
Daniel B And Florence E Green Foundation Conshohocken, PA | $179,390,509 | $18,946,870 |
Price Family Foundation Inc New York, NY | $4,922,654 | $6,599,359 |
Seed The Dream Foundation Gladwyne, PA | $47,208,358 | $1,088,502 |
Vf Foundation Wilmington, DE | $28,556,217 | $960,441 |
Ruth Lilly Philanthropic Foundation Wilmington, DE | $89,481,864 | $12,222,478 |
Virginia B Toulmin Charitable Foundation Iii 20-102080246164 New York, NY | $0 | $3,507,979 |
Foundation For Excellence In Higher Education Inc Princeton, NJ | $10,905,740 | $10,645,198 |
Margaret A Nagel Tr Uw Art 2 Jericho, NY | $960,283 | $58,879 |