Sharma Family Foundation Inc
- Assets
- $93.0k
- Revenue
- $47.5k
- Investments
- $75.8k
- Employees
- 0
- Location
- Cupertino, CA
- Founding
- Data as of
- 12/2023
- EIN
- 88-2730118
Organization Overview
Sharma Family Foundation Inc is located in Cupertino, CA. 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. Sharma 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 12/2023, Sharma Family Foundation Inc generated $47.5k 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 (12.3%) each year. All expenses for the organization totaled $6.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (21.6%) per year over the past 2 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION MAKES CHARITABLE DISTRIBUTIONS TO OTHER QUALIFYING ORGANIZATIONS WHO PROMOTE YOUTH SPORTS PROGRAMS AND EDUCATION. SUCH ORGANIZATIONS INCLUDE ARCHBISHOP MITTY HIGH SCHOOL AND NODDIN HOME SCHOOL CLUB.
THE MANAGEMENT AND ADMINISTRATIVE COSTS INCURRED TO OPERATE THE FOUNDATION, DIRECTLY SUPPORT, AND ARE NECESSARY TO CARRY OUT THE CHARITABLE PROGRAMS AND ACTIVITIES CONDUCTED BY THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vineet Sharma President | 1 | $0 | |
Priyanka Sharma Treasurer | 1 | $0 | |
Vivek Goyal Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $45,463 |
| Interest on Savings | $829 |
| Dividends & Interest | $1,172 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $47,464 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,425 |
| Total operating and administrative expenses | $3,430 |
| Contributions, gifts, grants paid | $2,820 |
| Total expenses and disbursements | $6,250 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $416 |
| Savings and temporary cash investments | $16,714 |
| 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 | $30,376 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $92,969 |
| 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, Sharma Family Foundation Inc has awarded $2,820 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ARCHBISHOP MITTY HIGHS SCHOOL PURPOSE: GENERAL SUPPORT | $2,500 |
NODDIN HOME & SCHOOL CLUB PURPOSE: GENERAL SUPPORT | $320 |