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Deshpande Foundation INC FY2023 filing

Tax-deductible

Boston, MA501(c)(3)Since 2007Foundations & GrantmakersEIN 20-8520739Revenue −$227K in FY2023

On file with the IRSdeshpandefoundation.org75 Arlington Street FL 3, 02116-3936 · Boston, MATax-exempt since Nov 2007Supporting organization — 509(a)(3)

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The Deshpande Foundation, Inc. encourages the use of entrepreneurship and innovation as catalysts for societal change and improved quality of life.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $2.1M a year · 3391% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
−$3K
-0.02% of total assets
Looks good: liabilities are -0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 6 voting members
Looks good: 4 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$227K
-279% vs prior year
Spent
$843K
To programs
89%
Net assets
$13.5M
By yearFY2020–FY2025
Revenue
−$227K
FY2023▼ -279%
Tap a bar for its year
Revenue by fiscal year
FY2020$124K
FY2021$114K
FY2022$127K
FY2023−$227K
FY2024$110K
FY2025$121K
Expenses
$843K
FY2023▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$1.3M
FY2022$711K
FY2023$843K
FY2024$681K
FY2025$8.1M
Net assets
$13.5M
FY2023▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$12.4M
FY2021$15.2M
FY2022$14.0M
FY2023$13.5M
FY2024$14.2M
FY2025$7.1M

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $752K Management & general 11% · $91K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Kate R Guedj
Treasurer & Director
$0Pt VII · Sec A
Gururaj Deshpande
President & Director
$0Pt VII · Sec A
Hemang Dave
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Servjeet Bhachu
Clerk & CFO
$0Pt VII · Sec A
See Deshpande Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Fosters entrepreneurship and innovation to create societal change and improve lives.

Questions for Deshpande Foundation INC

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Provided by the organization

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1 program · $752K · in their own filed words · FY2022
01

Utilizing grant-making to promote geographically-relevant process, technological and social innovation and entrepreneurship.

$752Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Sodhani FoundationFY2023$2K
Total grants receivedfrom 1 funder$2K
Grants paid · 24 grants · $9.5M · 2019–2024
Fidelity Investments Charitable Gift FundMA · FY2024$5,000,000
Entrepreneurship for All INCMA · FY2024$2,000,000
Massachusetts Institute of TechnologyMA · FY2024$500,000
Boston Foundation INCMA · FY2024$70,000
Hindu American Foundation INCPA · FY2024$25,000
VenturewellMA · FY2024$20,000
Museum of ScienceMA · FY2024$20,000
Humane World for Animals InternationalDC · FY2024$20,000
Chinmaya Mission of BostonMA · FY2024$11,000
Samskrita BharatiVA · FY2024$10,000
Project Prakash FoundationMA · FY2024$10,000
Massachusetts Society for the Prevention of Cruelty to AnimalsMA · FY2024$10,000
Lowell Parks and Conservation Trust INCMA · FY2024$10,000
Brahma Kumaris World Spiritual OrganizationNY · FY2024$10,000
VenturewellMA · FY2023$100,000
Groundwork Lawrence INCMA · FY2022$20,000
Entrepreneurship for All INCMA · FY2020$500,000
Boston Foundation INCMA · FY2020$322,100
See all 24 grants →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$227K
Ln 12
Investment incomeLn 3$99K
Fees for servicesLn 2g$6K
Money outPt IX
$843K
Ln 25
Programscol B$752K
Managementcol C$91K
Owns and owesPt X
$13.5M
net assets · Ln 32
Total assetsLn 16$13.5M
LiabilitiesLn 26−$3K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$6K
Investment incomeLn 3$99K
Gains on assetsLn 7−$332K
Total revenueLn 12−$227K
Assets in detailPt X, end of year
InvestmentsLn 11–13$13.5M
Total assetsLn 16$13.5M
LiabilitiesLn 26−$3K
Net assetsLn 32$13.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
InvestmentsLn 11–13$14.0M$13.5M
Total assetsLn 16$14.0M$13.5M
LiabilitiesLn 26$9K−$3K
Net assetsLn 32$14.0M$13.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$25K$25K
Other salaries and wagesLn 7$497K$497K
Pension plan contributionsLn 8$20K$20K
Other employee benefitsLn 9$50K$50K
Payroll taxesLn 10$35K$35K
Management feesLn 11a$54K$54K
Investment management feesLn 11f$37K$37K
Office expensesLn 13$235$235
Information technologyLn 14$994$994
TravelLn 17$39K$39K
Conferences, conventions and meetingsLn 19$2K$2K
Other expenses (24a–d)Ln 24$81K$81K
Total functional expensesLn 25$843K$752K$91K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $121K$8.1M−$8.0M$7.1M 990 PDF
FY2024 $110K$681K−$571K$14.2M 990 PDF
FY2023 Viewing −$227K$843K−$1.1M$13.5M 990 PDF
FY2022 $127K$711K−$584K$14.0M 990 PDF
FY2021 $114K$1.3M−$1.2M$15.2M 990 PDF
FY2020 $124K$1.2M−$1.1M$12.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary −$226,805 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$6,008
I-10 Investment incomePrior year $126,792−$232,813
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $126,792−$226,805
I-13 Grants and similar amounts paidPrior year $5,000$25,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $472,578$603,211
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $233,478$214,591
I-18 Total expensesPrior year $711,056$842,802
I-19 Revenue less expensesPrior year −$584,264−$1,069,607
Part VI · Governance 4 of 6 board members independent, 2 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue −$226,805 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $6,008$6,008
VIII-3 Investment incomeExcluded from tax $99,164$99,164
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$331,977−$331,977
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$226,805−$226,805
Part IX · Statement of functional expenses $842,802 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $25,000$25,000
IX-7 Other salaries and wagesPrograms $497,378$497,378
IX-8 Pension plan contributionsPrograms $20,264$20,264
IX-9 Other employee benefitsPrograms $50,087$50,087
IX-10 Payroll taxesPrograms $35,482$35,482
IX-11a Management feesManagement $53,511$53,511
IX-11f Investment management feesManagement $37,163$37,163
IX-13 Office expensesPrograms $235$235
IX-14 Information technologyPrograms $994$994
IX-17 TravelPrograms $39,313$39,313
IX-19 Conferences, conventions and meetingsPrograms $1,918$1,918
IX-24 Other expenses (24a–d)Programs $81,457$81,457
IX-25 Total functional expensesPrograms $752,128 · Management $90,674 · Fundraising $0$842,802
Part X · Balance sheet $13,506,530 assets, 9 lines filed
X-11 Publicly traded securitiesStart of year $7,023,938$6,869,233
X-12 Other securitiesStart of year $6,928,404$6,537,297
X-13 Program-related investmentsStart of year $50,000$100,000
X-16 Total assetsStart of year $14,002,342$13,506,530
X-17 Accounts payable and accrued expensesStart of year $9,468−$2,849
X-26 Total liabilitiesStart of year $9,468−$2,849
X-27 Net assets without donor restrictionsStart of year $13,992,874$13,509,379
X-32 Total net assets or fund balancesStart of year $13,992,874$13,509,379
X-33 Total liabilities and net assetsStart of year $14,002,342$13,506,530
Part XI · Reconciliation of net assets $13,509,379 net assets at year end
XI-1 Total revenue−$226,805
XI-2 Total expenses$842,802
XI-3 Revenue less expenses−$1,069,607
XI-4 Net assets at start of year$13,992,874
XI-5 Net unrealized gains (losses) on investments$586,112
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$13,509,379

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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