Somaiya Family Foundation
- Assets
- $13.8m
- Revenue
- $460.2k
- Investments
- $13.3m
- Employees
- 0
- Location
- Fairfax, VA
- Founding
- Data as of
- 12/2021
- EIN
- 84-4003529
Organization Overview
Somaiya Family Foundation is located in Fairfax, VA. 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. Somaiya 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, Somaiya Family Foundation generated $460.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (58.0%) each year. All expenses for the organization totaled $555.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Somaiya Family Foundation has awarded 18 individual grants totaling $599,418. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $349,792 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $110,387 |
| Capital Gain Net Income | $110,387 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $460,179 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,018 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $45 |
| Total operating and administrative expenses | $93,967 |
| Contributions, gifts, grants paid | $461,068 |
| Total expenses and disbursements | $555,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $586,674 |
| 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 | $13,846,067 |
| 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, Somaiya Family Foundation has awarded $461,068 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
SCHWAB CHARITABLE FUND PURPOSE: GENERAL OPERATING SUPPORT.REGARDING THE GIFT OF STOCK, PLEASE SEE THE ATTACHED 75 SHARES AMAZON COMMON STOCK, GIFT DATE 12/15/21.COST - $153,699; FAIR MARKET VALUE - $248,818. | $248,818 |
SCHWAB CHARITABLE FUND PURPOSE: GENERAL OPERATING SUPPORT | $100,250 |
Houston, TX PURPOSE: GENERAL OPERATING SUPPORT | $75,000 |
WHEELS GLOBAL FOUNDATION PURPOSE: GENERAL OPERATING FOUNDATION | $15,000 |
THE CHILDREN'S INN PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
Indianapolis, IN PURPOSE: GENERAL OPERATING FOUNDATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
Msi-Us Washington, DC | $1,301,607 | $71,292,993 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
Bhp Foundation Washington, DC | $309,092,778 | $68,102,954 |
Wyss Medical Foundation Inc Washington, DC | $41,278,790 | $827,503 |
Service Coordination Inc Frederick, MD | $19,156,790 | $52,158,150 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
Bainum Family Foundation Bethesda, MD | $0 | $60,288,788 |