Psquared Charitable Foundation
- Assets
- $103.8m
- Revenue
- $16.4m
- Investments
- $96.1m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 06/2019
- Data as of
- 12/2023
- EIN
- 83-1042303
Organization Overview
Psquared Charitable Foundation is located in Wilmington, DE. The organization was established in 2019. 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. Psquared Charitable 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 12/2023, Psquared Charitable Foundation generated $16.4m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $4.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Psquared Charitable Foundation has awarded 116 individual grants totaling $8,667,717. 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 |
|---|---|---|---|
Deven Parekh Dir, Sec, Treas | 1 | $0 | |
Monika Parekh Dir, Pres | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Srt Advising & Consulting Llc | 12/30/23 | $85,132 |
Foundation Source | 12/30/23 | $78,980 |
Pgw Limited | 12/30/23 | $60,150 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $14,649,650 |
| Interest on Savings | $2,699 |
| Dividends & Interest | $692,874 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $773,652 |
| Capital Gain Net Income | $8,378,958 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $237,532 |
| Total Revenue | $16,356,407 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $120,150 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $13,224 |
| Printing and publications | $0 |
| Other expenses | $540,471 |
| Total operating and administrative expenses | $833,928 |
| Contributions, gifts, grants paid | $3,460,844 |
| Total expenses and disbursements | $4,294,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,563,963 |
| Net Accounts receivable | $3,585 |
| 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 | $49,345,985 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $85,000 |
| Total assets | $103,792,503 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $700 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $7,147,654 |
| Total liabilities | $7,148,354 |
Grants Awarded
Over the last fiscal year, Psquared Charitable Foundation has awarded $3,460,844 in support to 37 organizations.
| Grant Recipient | Amount |
|---|---|
19TH NEWS PURPOSE: GENERAL & UNRESTRICTED | $50,000 |
ADVOCATES FOR YOUTH PURPOSE: TO SUPPORT THE AMAZE PROGRAM AND UNRESTRICTED | $100,000 |
BREAKFAST REVOLUTION PURPOSE: GENERAL & UNRESTRICTED | $20,000 |
BRIGID ALLIANCE INC PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
CARNEGIE ENDOWMENT FOR INTERNATIONAL PEACE PURPOSE: GENERAL & UNRESTRICTED | $100,000 |
CENTER FOR INDEPENDENT DOCUMENTARY INC PURPOSE: GRANT TO SUPPORT THE DOCUMENTARY CUTTING THROUGH ROCKS | $10,000 |