Maharashtra Foundation FY2022 filing

Tax-deductible

New York, NY501(c)(3)EIN 22-2213611

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Funding charitable projects in india and the USA.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
43 mo
of spending, in cash
Looks good: 42.8 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
$10K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 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
-18% vs prior year
Spent
$567K
To programs
90%
Net assets
$5.2M
By yearFY2020–FY2024
Revenue
$1.3M
FY2022▼ -18%
Revenue by fiscal year
FY2020$943K
FY2021$1.5M
FY2022$1.3M
FY2023$814K
FY2024$1.3M
Expenses
$567K
FY2022▲ +2%
Expenses by fiscal year
FY2020$673K
FY2021$553K
FY2022$567K
FY2023$1.0M
FY2024$924K
Net assets
$5.2M
FY2022▼ -2%
Net assets by fiscal year
FY2020$4.3M
FY2021$5.3M
FY2022$5.2M
FY2023$5.5M
FY2024$6.1M

From the FY2022 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

90 cents of each dollar spent went to programs.

Program services 90% · $510K Management & general 7% · $42K Fundraising 3% · $15K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer (ended 9/22)
$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.

Provided by the organization

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1 program · $510K · in their own filed words · FY2022
01

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

$510Kprogram 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
See all 4 funders →
Grants paid · 7 grants · $114K · 2020–2024
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 FY2022 990, line by line.

1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$1.1M
Investment incomeLn 3$156K
Other incomeLn 4–11$140
Money outPt IX
$567K
Ln 25
Programscol B$510K
Managementcol C$42K
Fundraisingcol D$15K
Owns and owesPt X
$5.2M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$5.2M
LiabilitiesLn 26$10K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Fundraising eventsLn 1c$46K
Investment incomeLn 3$156K
Other incomeLn 4–11$140
Gains on assetsLn 7$95K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$505K
SavingsLn 2$1.5M
Cash and savings togetherLn 1–2$2.0M
InvestmentsLn 11–13$3.2M
Total assetsLn 16$5.2M
LiabilitiesLn 26$10K
Net assetsLn 32$5.2M
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 FY22End FY22
Cash and savingsLn 1–2$2.3M$2.0M
InvestmentsLn 11–13$2.9M$3.2M
Total assetsLn 16$5.3M$5.2M
LiabilitiesLn 26$9K$10K
Net assetsLn 32$5.3M$5.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$44K$44K
Grants and assistance to foreign recipientsLn 3$453K$453K
Accounting feesLn 11c$10K$10K
Investment management feesLn 11f$32K$32K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$3K$3K
Depreciation, depletion and amortizationLn 22$545$545
InsuranceLn 23$878$878
Other expenses (24a–d)Ln 24$18K$3K$15K
Total functional expensesLn 25$567K$510K$42K$15K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.3M$924K$416K$6.1M 990 PDF
FY2023 $814K$1.0M−$211K$5.5M 990 PDF
FY2022 Viewing $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 I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $1,257,978 across 9 lines filed
VIII-1b Membership dues$4,100
VIII-1c Fundraising events$45,570
VIII-1f All other contributions, gifts and grants$1,051,979
VIII-1h Total contributions, gifts and grants$1,101,649
VIII-3 Investment incomeExcluded from tax $60,887$60,887
VIII-7 Net gain or loss on sales of assetsExcluded from tax $95,302$95,302
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $140$140
VIII-12 Total revenueRelated to mission $140 · Unrelated business $0 · Excluded from tax $156,189$1,257,978
Part IX · Statement of functional expenses $566,647 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $44,000$44,000
IX-3 Grants and assistance to foreign recipientsPrograms $452,750$452,750
IX-11c Accounting feesManagement $9,950$9,950
IX-11f Investment management feesManagement $31,708$31,708
IX-12 Advertising and promotionPrograms $6,028$6,028
IX-13 Office expensesPrograms $2,839$2,839
IX-22 Depreciation, depletion and amortizationPrograms $545$545
IX-23 InsurancePrograms $878$878
IX-24 Other expenses (24a–d)Programs $2,549 · Fundraising $15,400$17,949
IX-25 Total functional expensesPrograms $509,589 · Management $41,658 · Fundraising $15,400$566,647
Part X · Balance sheet $5,202,627 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $661,130$505,046
X-2 Savings and temporary cash investmentsStart of year $1,681,210$1,514,545
X-12 Other securitiesStart of year $2,945,565$3,183,036
X-16 Total assetsStart of year $5,287,905$5,202,627
X-17 Accounts payable and accrued expensesStart of year $9,400$10,075
X-26 Total liabilitiesStart of year $9,400$10,075
X-27 Net assets without donor restrictionsStart of year $4,183,751$3,402,397
X-28 Net assets with donor restrictionsStart of year $1,094,754$1,790,155
X-32 Total net assets or fund balancesStart of year $5,278,505$5,192,552
X-33 Total liabilities and net assetsStart of year $5,287,905$5,202,627
Part XI · Reconciliation of net assets $5,192,552 net assets at year end
XI-1 Total revenue$1,257,978
XI-2 Total expenses$566,647
XI-3 Revenue less expenses$691,331
XI-4 Net assets at start of year$5,278,505
XI-5 Net unrealized gains (losses) on investments−$777,284
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,192,552

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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