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Maharashtra Foundation

Tax-deductible

New York, NY501(c)(3) EIN 22-2213611Revenue $1.3M in FY2024

On file with the IRSmaharashtrafoundation.orgPo Box 2287, 10008-2287 · New York, NYTax-exempt since Apr 1981Publicly supported charity — 170(b)(1)(A)(vi)

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Funding charitable projects in india and the USA.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Run by 9 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $430K a year · 37% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
29 mo
of spending, in cash
Plus $3.9M in investments, Pt X · Ln 11–13
Looks good: 29.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $309K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$17K
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
+64% vs prior year
Spent
$924K
To programs
95%
Net assets
$6.1M
By yearFY2020–FY2024
Revenue
$1.3M
FY2024▲ +64%
Tap a bar for its year
Revenue by fiscal year
FY2020$943K
FY2021$1.5M
FY2022$1.3M
FY2023$814K
FY2024$1.3M
Expenses
$924K
FY2024▼ -10%
Tap a bar for its year
Expenses by fiscal year
FY2020$673K
FY2021$553K
FY2022$567K
FY2023$1.0M
FY2024$924K
Net assets
$6.1M
FY2024▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.3M
FY2021$5.3M
FY2022$5.2M
FY2023$5.5M
FY2024$6.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1981.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $875K Management & general 5% · $49K Fundraising 0% · $155

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Deepa Limaye
Vicepresident
$0Pt VII · Sec A
$0Pt VII · Sec A
Manjiri Joshi
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Parag Jagtap
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Maharashtra Foundation 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds charitable projects in India and the USA.

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Provided by the organization

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1 program · $875K · in their own filed words · FY2024
01

To promote social and economic justice for all upholding the basic humanitarian principles of freedom, equality, secularism and human rights. To this effect, maharashtra foundation supports organizations that help the weaker sections of the society.

$875Kprogram 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 · FY2024
Fidelity Investments Charitable Gift FundFY2024$285K
Donor Advised Charitable Giving INCFY2024$17K
American Online Giving Foundation INCFY2024$7K
Verizon FoundationFY2024$750
Total grants receivedfrom 4 funders$309K
See all 4 funders →
Grants paid · 7 grants · $114K · 2020–2024
Maharashtra Mandal - Bay AreaCA · FY2024$7,500
Maharashtra Mandal - Bay AreaCA · FY2023$32,500
Marathi VishwaNJ · FY2022$25,000
Maina FoundationCT · FY2022$14,000
Rain Forest TrustFY2021$20,000
Individual RecipientFY2021$7,500
Top Honors IncorporatedNY · FY2020$7,214

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$921K
Investment incomeLn 3$419K
Money outPt IX
$924K
Ln 25
Programscol B$875K
Managementcol C$49K
Fundraisingcol D$155
Owns and owesPt X
$6.1M
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$6.1M
LiabilitiesLn 26$17K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$921K
Investment incomeLn 3$419K
Gains on assetsLn 7$278K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$663K
SavingsLn 2$1.6M
Cash and savings togetherLn 1–2$2.3M
InvestmentsLn 11–13$3.9M
Total assetsLn 16$6.1M
LiabilitiesLn 26$17K
Net assetsLn 32$6.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.3M$2.3M
InvestmentsLn 11–13$3.2M$3.9M
Total assetsLn 16$5.5M$6.1M
LiabilitiesLn 26$17K$17K
Net assetsLn 32$5.5M$6.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$28K$28K
Grants and assistance to foreign recipientsLn 3$815K$815K
Accounting feesLn 11c$27K$11K$16K
Investment management feesLn 11f$33K$33K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$10K$10K
InsuranceLn 23$878$878
Other expenses (24a–d)Ln 24$8K$8K
All other expensesLn 24e$652$497$155
Total functional expensesLn 25$924K$875K$49K$155

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.3M$924K$416K$6.1M 990 PDF
FY2023 $814K$1.0M−$211K$5.5M 990 PDF
FY2022 $1.3M$567K$691K$5.2M 990 PDF
FY2021 $1.5M$553K$986K$5.3M 990 PDF
FY2020 $943K$673K$270K$4.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,339,601 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $644,430$920,535
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $169,979$419,066
I-11 Other revenuePrior year $80$0
I-12 Total revenuePrior year $814,489$1,339,601
I-13 Grants and similar amounts paidPrior year $942,721$843,105
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $82,636$80,621
I-18 Total expensesPrior year $1,025,357$923,726
I-19 Revenue less expensesPrior year −$210,868$415,875
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,339,601 across 6 lines filed
VIII-1b Membership dues$176
VIII-1f All other contributions, gifts and grants$920,359
VIII-1h Total contributions, gifts and grants$920,535
VIII-3 Investment incomeExcluded from tax $141,125$141,125
VIII-7 Net gain or loss on sales of assetsExcluded from tax $277,941$277,941
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $419,066$1,339,601
Part IX · Statement of functional expenses $923,726 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $28,220$28,220
IX-3 Grants and assistance to foreign recipientsPrograms $814,885$814,885
IX-11c Accounting feesPrograms $10,885 · Management $15,768$26,653
IX-11f Investment management feesManagement $32,985$32,985
IX-12 Advertising and promotionPrograms $2,111$2,111
IX-13 Office expensesPrograms $9,746$9,746
IX-23 InsurancePrograms $878$878
IX-24 Other expenses (24a–d)Programs $7,596$7,596
IX-24e All other expensesPrograms $497 · Fundraising $155$652
IX-25 Total functional expensesPrograms $874,818 · Management $48,753 · Fundraising $155$923,726
Part X · Balance sheet $6,122,902 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $785,825$663,344
X-2 Savings and temporary cash investmentsStart of year $1,464,277$1,600,271
X-12 Other securitiesStart of year $3,247,797$3,859,287
X-16 Total assetsStart of year $5,497,899$6,122,902
X-17 Accounts payable and accrued expensesStart of year $17,100$17,100
X-26 Total liabilitiesStart of year $17,100$17,100
X-27 Net assets without donor restrictionsStart of year $4,135,135$4,797,640
X-28 Net assets with donor restrictionsStart of year $1,345,664$1,308,162
X-32 Total net assets or fund balancesStart of year $5,480,799$6,105,802
X-33 Total liabilities and net assetsStart of year $5,497,899$6,122,902
Part XI · Reconciliation of net assets $6,105,802 net assets at year end
XI-1 Total revenue$1,339,601
XI-2 Total expenses$923,726
XI-3 Revenue less expenses$415,875
XI-4 Net assets at start of year$5,480,799
XI-5 Net unrealized gains (losses) on investments$209,129
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,105,802

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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