Civic Intelligence

Sphoorti Foundation USA

990 • Fiscal year 2022 • EIN 27-2761310

Jan 01, 2022 to Dec 31, 2022 • Filed on Jan 30, 2024

Organization Profilewww.sphoorti.org
5314 Beacon Hill DriveFrisco, TX 75034

(817) 261-2582

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

31st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

31st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

14th percentile

-24%

Higher net margin than 14% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

19th percentile

-12%

Faster asset growth than 19% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

20th percentile

-19%

Faster revenue growth than 20% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets31st percentile

Assets

Down

$631,988

Down $83,145 (-12%) from 2021

Net Assets

Down

$631,988

Down $83,145 (-12%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin14th percentile

Revenue

Down

$340,437

Down $79,205 (-19%) from 2021

Expenses

Up

$423,582

Up $255,237 (+152%) from 2021

Net Income

Down

-$83,145

Down $334,442 (-133%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0Assets 2013: $197,116Net Assets 2013: $197,1172013Assets 2014: $88,750Net Assets 2014: $88,7502014Assets 2016: $116,679Liabilities 2016: $0Net Assets 2016: $116,6792016Assets 2017: $222,685Liabilities 2017: $0Net Assets 2017: $222,6852017Assets 2018: $230,310Liabilities 2018: $0Net Assets 2018: $230,3102018Assets 2019: $252,868Liabilities 2019: $0Net Assets 2019: $252,8682019Assets 2020: $463,836Liabilities 2020: $0Net Assets 2020: $463,8362020Assets 2021: $715,133Liabilities 2021: $0Net Assets 2021: $715,1332021Assets 2022: $631,988Liabilities 2022: $0Net Assets 2022: $631,9882022Assets 2024: $634,672Liabilities 2024: $0Net Assets 2024: $634,6722024

Highlighted filing

2022

Assets$631,988
Liabilities$0
Net Assets$631,988
Open 2022 Filing

Operations Trend

Revenue Growth20th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2013: $190,554Expenses 2013: $184,488Net Income 2013: $6,0662013Revenue 2014: $151,563Expenses 2014: $259,929Net Income 2014: -$108,3662014Revenue 2016: $267,051Expenses 2016: $224,936Net Income 2016: $42,1152016Revenue 2017: $225,070Expenses 2017: $119,064Net Income 2017: $106,0062017Revenue 2018: $225,830Expenses 2018: $218,205Net Income 2018: $7,6252018Revenue 2019: $255,696Expenses 2019: $233,138Net Income 2019: $22,5582019Revenue 2020: $373,778Expenses 2020: $162,810Net Income 2020: $210,9682020Revenue 2021: $419,642Expenses 2021: $168,345Net Income 2021: $251,2972021Revenue 2022: $340,437Expenses 2022: $423,582Net Income 2022: -$83,1452022Revenue 2024: $339,109Expenses 2024: $406,309Net Income 2024: -$67,2002024

Highlighted filing

2022

Revenue$340,437
Expenses$423,582
Net Income-$83,145
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jan 30, 2024
Return Version
2022v5.0
Gross Receipts
$340,437
Mission and Program Overview

Mission

Sphoorti Foundation works for the rehabilitation of children belonging to underprivileged and vulnerable sections of the society

Rehabilitation of children belonging to underprivileged and vulnerable sections of the society

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$715,133$631,988▼ $83,145
Rtn Earn Endowment Incm Other Fnds$715,133$631,988▼ $83,145
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$715,133$631,988▼ $83,145
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$715,133$631,988▼ $83,145
Total Liabilities and Net Assets / Fund Balance$715,133$631,988▼ $83,145
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Jeevan BobbiliPresident
Srivyal VuyyuriVice President
Tejaswini VavilalaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$340,437
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$340,437
Change in Net Assets
$-83,145

Audited Revenue Reconciliation

Revenue per Audited Statements
$340,437
Total Revenue per Audited Statements
$340,437
Total Revenue per Form 990
$340,437
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$420,000
Other Expenses$3,582
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$420,000--$420,000
Fees for Services Other-$2,182-$2,182
Fees for Services Accounting-$1,400-$1,400
Total Functional Expenses$420,000$3,582$0$423,582

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$423,582
Total Expenses per Audited Statements$423,582
Total Expenses per Form 990$423,582
International Activity

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Sphoorti
EIN
27-2761310
Phone
8172612582
Address
5314 Beacon Hill Drive, Frisco, TX 75034

Signing Officer

Name
Jeevan Bobbili
Title
President
Signed
2024-01-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeevan Bobbili
Formed
2010
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Porter & Company Cpas
Address
5525 N MACARTHUR BLVD STE 135, IRVING, TX 75038
Preparer
Vincent Porter
Phone
8172612582
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0631988
IRS990/TravelGrp/TotalAmt00
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/AddressLine1Txt05314 Beacon Hill Drive
IRS990/USAddress/CityNm0Frisco
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IRS990/USAddress/ZIPCd075034
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IRS990/WebsiteAddressTxt0www.sphoorti.org
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ReasonableCauseExplanation/ExplanationTxt0I am writing on behalf of Sphoorti to address the recent non-compliance issue with filing tax returns for 2022 in a timely manner. We understand the gravity of the situation and would like to provide a detailed explanation of the circumstances surrounding our non-compliance, emphasizing that it was not due to neglect or carelessness but rather a result of unforeseen challenges. Sphoorti respectfully requests a waiver of the late filing penalty for its 2022 Form 990. Sphoorti did request an extension of time to file its return, but was unable to meet the extended deadline in filng its 2022 return.Sphoorti has always been committed to upholding the highest standards of compliance and adhering to all relevant laws and regulations. However, during the period in question, we encountered specific challenges or obstacles that significantly impacted our ability to comply with filing on or before the extended filing deadline. These challenges were beyond our control and were unforeseen at the time.It is crucial to highlight that our organization was not neglectful or careless in its approach. On the contrary, we exercised ordinary business care and prudence throughout the process. Despite our best efforts, the unforeseen challenges posed a unique set of circumstances that made compliance difficult during that period.In response to this situation, Sphoorti has taken immediate and comprehensive steps to rectify the non-compliance issue and prevent a recurrence in the future. These steps include:1.Conducting a thorough internal review to identify the root causes of the non-compliance.2.Implementing corrective measures to address the specific issues identified during the review.3.Strengthening internal controls and processes to enhance compliance monitoring.4.Providing additional training to relevant staff members to ensure a clear understanding of compliance requirements.We understand the importance of compliance and are fully committed to rectifying the situation. Our goal is to demonstrate to the IRS that Sphoorti takes these matters seriously and is dedicated to preventing similar situations in the future.If there is any additional information required or if you would like to discuss this matter further, please do not hesitate to contact us.Thank you for your understanding, and we appreciate your attention to this matter.Jeevan Bobboli, President of Sphoorti
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Jeevan Bobbili
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-01-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Sphoorti
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0dba Sphoorti Foundation USA
ReturnHeader/Filer/BusinessNameControlTxt0SPHO
ReturnHeader/Filer/EIN0272761310
ReturnHeader/Filer/PhoneNum08172612582
ReturnHeader/Filer/USAddress/AddressLine1Txt05314 Beacon Hill Drive
ReturnHeader/Filer/USAddress/CityNm0Frisco
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271505915
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PORTER & COMPANY CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05525 N MACARTHUR BLVD STE 135
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0IRVING
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075038
ReturnHeader/PreparerPersonGrp/PhoneNum08172612582
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Vincent Porter
ReturnHeader/ReturnTs02024-01-30T08:37:53-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Jeevan
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Bobbili
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$631,988
Liabilities
$0
Net assets
$631,988
Revenue
$340,437
Expenses
$423,582
Net income
-$83,145
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.35$0.00$6.35$3.39$4.06$0.67
2022Detailed filing. Detailed filing data is available for this year.$6.32$0.00$6.32$3.40$4.24$0.83
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.15$0.00$7.15$4.20$1.68$2.51
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.64$0.00$4.64$3.74$1.63$2.11
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.53$0.00$2.53$2.56$2.33$0.23
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.30$0.00$2.30$2.26$2.18$0.08
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.23$0.00$2.23$2.25$1.19$1.06
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.17$0.00$1.17$2.67$2.25$0.42
2014Detailed filing. Detailed filing data is available for this year.$0.89$0.89$1.52$2.60$1.08
2013Detailed filing. Detailed filing data is available for this year.$1.97$1.97$1.91$1.84$0.06