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Aj Tolia Foundation INC

Tax-deductible

Towaco, NJ501(c)(3)Education EIN 81-4465947Revenue $37K in FY2024

On file with the IRS14 Herrman Way, 07082-1500 · Towaco, NJTax-exempt since Mar 2017Publicly supported charity — 170(b)(1)(A)(vi)

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To give scholarship to students, who have extra-ordinary capabilities but unable to pursue their post graduate education due to financial hardship, based upon their academics of graduate level education & based upon their admission call from universities where they want to pursue post-graduation education.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
3 of 5
filings with a surplus
Average surplus $20K a year · 63% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Plus $364K in investments, Pt X · Ln 11–13
Fine: 0.9 months of spending in cash, plus $364K in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$37K
+505% vs prior year
Spent
$24K
To programs
100%
Net assets
$366K
By yearFY2020–FY2024
Revenue
$37K
FY2024▲ +505%
Tap a bar for its year
Revenue by fiscal year
FY2020$9K
FY2021$104K
FY2022$4K
FY2023$6K
FY2024$37K
Expenses
$24K
FY2024▲ +47%
Tap a bar for its year
Expenses by fiscal year
FY2020$5K
FY2021$9K
FY2022$6K
FY2023$16K
FY2024$24K
Net assets
$366K
FY2024▲ +23%
Tap a bar for its year
Net assets by fiscal year
FY2020$150K
FY2021$318K
FY2022$250K
FY2023$297K
FY2024$366K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2017.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $24K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Anuj Tolia
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
See Aj Tolia 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides scholarships to academically gifted students facing financial hardship for postgraduate studies.

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Provided by the organization

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1 program · $24K · in their own filed words · FY2024
01

Organization receives public grant every year 2018 to work upon accomplishing its objectives & it spent money & donated to other public charities pursuant to its objectives.

$24Kprogram 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 · FY2021
Morgan Stanley Global Impact Funding Trust INCFY2021$50K
Total grants receivedfrom 1 funder$50K
Grants paid · 1 grant · $23K · 2024–2024
Srsk of NJNJ · FY2024$23,409

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$37K
Ln 12
Gifts and grantsLn 1h$25K
Investment incomeLn 3$12K
Money outPt IX
$24K
Ln 25
Programscol B$24K
Owns and owesPt X
$366K
net assets · Ln 32
Cash and savingsLn 1–2$2K
Total assetsLn 16$366K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$25K
Noncash giftsLn 1g$25K
Investment incomeLn 3$12K
Gains on assetsLn 7$8K
Total revenueLn 12$37K
Assets in detailPt X, end of year
CashLn 1$2K
Cash and savings togetherLn 1–2$2K
InvestmentsLn 11–13$364K
Total assetsLn 16$366K
LiabilitiesLn 26$0
Net assetsLn 32$366K
OperationsPt I, VI
EmployeesI 50
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−$3K$2K
InvestmentsLn 11–13$300K$364K
Total assetsLn 16$297K$366K
LiabilitiesLn 26$0$0
Net assetsLn 32$297K$366K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$23K$23K
Accounting feesLn 11c$500$500
Total functional expensesLn 25$24K$24K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $37K$24K$13K$366K 990 PDF
FY2023 $6K$16K−$10K$297K 990 PDF
FY2022 $4K$6K−$2K$250K 990 PDF
FY2021 $104K$9K$95K$318K 990 PDF
FY2020 $9K$5K$4K$150K 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 O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $37,139 revenue, 12 lines filed
I-8 Contributions and grants$24,852
I-9 Program service revenue$0
I-10 Investment incomePrior year $6,141$12,287
I-11 Other revenue$0
I-12 Total revenuePrior year $6,141$37,139
I-13 Grants and similar amounts paidPrior year $15,811$23,409
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $500$500
I-18 Total expensesPrior year $16,311$23,909
I-19 Revenue less expensesPrior year −$10,170$13,230
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $37,139 across 6 lines filed
VIII-1f All other contributions, gifts and grants$24,852
VIII-1g Noncash contributions (included above)$24,852
VIII-1h Total contributions, gifts and grants$24,852
VIII-3 Investment incomeRelated to mission $4,782$4,782
VIII-7 Net gain or loss on sales of assetsRelated to mission $7,505$7,505
VIII-12 Total revenueRelated to mission $12,287$37,139
Part IX · Statement of functional expenses $23,909 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $23,409$23,409
IX-11c Accounting feesPrograms $500$500
IX-25 Total functional expensesPrograms $23,909 · Management $0 · Fundraising $0$23,909
Part X · Balance sheet $365,780 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year −$3,014$1,734
X-11 Publicly traded securitiesStart of year $299,999$364,046
X-16 Total assetsStart of year $296,985$365,780
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $296,985$365,780
X-32 Total net assets or fund balancesStart of year $296,985$365,780
X-33 Total liabilities and net assetsStart of year $296,985$365,780
Part XI · Reconciliation of net assets $365,780 net assets at year end
XI-1 Total revenue$37,139
XI-2 Total expenses$23,909
XI-3 Revenue less expenses$13,230
XI-4 Net assets at start of year$296,985
XI-5 Net unrealized gains (losses) on investments$55,565
XI-10 Net assets at end of year$365,780

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

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