Civic Intelligence

Paniit Inc.

990 • Fiscal year 2015 • EIN 43-2047118

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 02, 2017

Organization ProfileWWW.IIT.ORG
5042 Wilshire Boulevard No 24235Los Angeles, CA 90036

(310) 544-3355

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$307,950

Down $64,391 (-17%) from 2014

Net Assets

Down

$307,950

Down $64,391 (-17%) from 2014

Liabilities

Flat

$0

Flat from 2014

Revenue And Expenses

Revenue

Up

$680,158

Up $511,122 (+302%) from 2014

Expenses

Up

$744,549

Up $678,773 (+1032%) from 2014

Net Income

Down

-$64,391

Down $167,651 (-162%) from 2014

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2010: $341,050Liabilities 2010: $0Net Assets 2010: $341,0502010Assets 2011: $268,836Liabilities 2011: $02011Assets 2012: $306,945Liabilities 2012: $0Net Assets 2012: $306,9452012Assets 2013: $269,081Liabilities 2013: $0Net Assets 2013: $269,0812013Assets 2014: $372,341Liabilities 2014: $0Net Assets 2014: $372,3412014Assets 2015: $386,313Liabilities 2015: $0Net Assets 2015: $386,3132015Assets 2015: $307,950Liabilities 2015: $0Net Assets 2015: $307,9502015Assets 2016: $324,105Liabilities 2016: $0Net Assets 2016: $324,1052016Assets 2017: $255,796Liabilities 2017: $76Net Assets 2017: $255,7202017Assets 2018: $227,505Liabilities 2018: $0Net Assets 2018: $227,5052018Assets 2019: $190,028Liabilities 2019: $0Net Assets 2019: $190,0282019Assets 2020: $594,325Liabilities 2020: $0Net Assets 2020: $594,3252020Assets 2021: $391,734Liabilities 2021: $0Net Assets 2021: $391,7342021Assets 2022: $334,135Liabilities 2022: $0Net Assets 2022: $334,1352022Assets 2023: $258,505Liabilities 2023: $02023Assets 2024: $258,013Net Assets 2024: $258,0132024

Highlighted filing

2015

Assets$307,950
Liabilities$0
Net Assets$307,950
Open 2015 Filing

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2010: $12,983Expenses 2010: $84,439Net Income 2010: -$71,4562010Revenue 2011: $19,093Expenses 2011: $91,307Net Income 2011: -$72,2142011Revenue 2012: $79,296Expenses 2012: $41,187Net Income 2012: $38,1092012Revenue 2013: $5,375Expenses 2013: $43,239Net Income 2013: -$37,8642013Revenue 2014: $169,036Expenses 2014: $65,776Net Income 2014: $103,2602014Revenue 2015: $680,158Expenses 2015: $666,186Net Income 2015: $13,9722015Revenue 2015: $680,158Expenses 2015: $744,549Net Income 2015: -$64,3912015Revenue 2016: $50,000Expenses 2016: $33,845Net Income 2016: $16,1552016Revenue 2017: $0Expenses 2017: $68,385Net Income 2017: -$68,3852017Revenue 2018: $2,389Expenses 2018: $30,604Net Income 2018: -$28,2152018Revenue 2019: $4,771Expenses 2019: $42,248Net Income 2019: -$37,4772019Revenue 2020: $533,682Expenses 2020: $129,385Net Income 2020: $404,2972020Revenue 2021: $2,748Expenses 2021: $205,339Net Income 2021: -$202,5912021Revenue 2022: $134Expenses 2022: $57,607Net Income 2022: -$57,4732022Revenue 2023: $80Expenses 2023: $75,710Net Income 2023: -$75,6302023Revenue 2024: $80,522Expenses 2024: $81,014Net Income 2024: -$4922024

Highlighted filing

2015

Revenue$680,158
Expenses$744,549
Net Income-$64,391
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 2, 2017
Return Version
2015v3.0
Gross Receipts
$680,158
Mission and Program Overview

Mission

Alumni networking activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$372,341$307,950▼ $64,391
Total Assets$372,341$307,950▼ $64,391
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$372,341$307,950▼ $64,391
Total Net Assets Fund Balance$372,341$307,950▼ $64,391
Total Liabilities and Net Assets / Fund Balance$372,341$307,950▼ $64,391
Compensation and Service Providers

Board Members and Trustees

NameTitle
Shailesh MehtaChairman
Subhash TantryConference Chair
Arjun SenPresident
Witty BindraVP/president Elect
Amit KumarCampus Representative
Kiran Kumar ThotaCampus Representative
Kv ReddyCampus Representative
Manu GoyalCampus Representative
Roy Da SilvaCampus Representative
Sandeep PandyaCampus Representative
Sanjay KeswaniCampus Representative
Sanjiv SahayCampus Representative
Sai Sandeep TallamCFO/treasurer (until 10/2016)
Paresh ShahChapter Services
Pradeep KhoslaDistinguished Alumni Rep
Sundi SundareshDistinguished Alumni Rep
Jassi ChadhaVP Elect
Revenue and Support

Revenue Composition

Contributions and Grants
$384,970
Program Service Revenue
$295,188
Investment Income
$0
Other Revenue
$0
All Other Contributions
$384,970
Change in Net Assets
$-64,391
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$744,549
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$682,861--$682,861
Fees for Services Other$10,813--$10,813
Information Technology$6,993--$6,993
Fees for Services Accounting$1,350--$1,350
Office Expenses$745--$745
Insurance$714--$714
Other Expenses$315--$315
Travel$70--$70
Total Functional Expenses$744,549$0$0$744,549
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The 990 was available to the finance committee for approval prior to filing.”

Form 990, Part VI, Section C, Line 19

“The governing documents and financial information is provided upon request.”

Filing and Contact Details

Filer

Filer Name
Paniit Inc
EIN
43-2047118
Phone
3105443355
Address
5042 WILSHIRE BOULEVARD NO 24235, LOS ANGELES, CA 90036

Signing Officer

Name
Huzefa Shakir
Title
CFO and Treasurer
Phone
3105443355
Signed
2017-06-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Arjun Sen
Formed
2004
Legal Domicile
CA
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
0

Preparer

Firm
Dalal & Company
Address
1500 KING STREET STE 301, ALEXANDRIA, VA 22314-2730
Preparer
Rustam J Dalal
Phone
7035481055
Supplemental Narrative

Additional Explanations

Amended Return Explanation

“The return has been amended to include additional conference expenses that were inadvertently omitted from the return as originally filed. The changes are as follows: form 990, page 1, part i: line 17 and 18(current year) increased by $78,363 to $744,549. Line 19 (current year) decreased by $78,363 to $(64,391). Line 20 and 22 (current year) decreased by $78,363 to $307,950. Page 2, part iii: line 4b expenses increased by $78,363 to $697,867. Page 10, part ix: line 19 col. A and b increased by $78,363 to $682,861. Line 25 col. A and b increased by $78,363 to $744,549. Page 11, part x: lines 1, 16, 27, 33 and 34 colum b all decreased by $78,363 to $307,950. Page 12, part xi: line 2 increased by $78,363 to $744,549. Line 3 decreased by $78,363 to $(64,391). Line 10 decreased by $78,363 to $307,950.”

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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 WAS AVAILABLE TO THE FINANCE COMMITTEE FOR APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING DOCUMENTS AND FINANCIAL INFORMATION IS PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE RETURN HAS BEEN AMENDED TO INCLUDE ADDITIONAL CONFERENCE EXPENSES THAT WERE INADVERTENTLY OMITTED FROM THE RETURN AS ORIGINALLY FILED. THE CHANGES ARE AS FOLLOWS: FORM 990, PAGE 1, PART I: LINE 17 AND 18(CURRENT YEAR) INCREASED BY $78,363 TO $744,549. LINE 19 (CURRENT YEAR) DECREASED BY $78,363 TO $(64,391). LINE 20 AND 22 (CURRENT YEAR) DECREASED BY $78,363 TO $307,950. PAGE 2, PART III: LINE 4B EXPENSES INCREASED BY $78,363 TO $697,867. PAGE 10, PART IX: LINE 19 COL. A AND B INCREASED BY $78,363 TO $682,861. LINE 25 COL. A AND B INCREASED BY $78,363 TO $744,549. PAGE 11, PART X: LINES 1, 16, 27, 33 AND 34 COLUM B ALL DECREASED BY $78,363 TO $307,950. PAGE 12, PART XI: LINE 2 INCREASED BY $78,363 TO $744,549. LINE 3 DECREASED BY $78,363 TO $(64,391). LINE 10 DECREASED BY $78,363 TO $307,950.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2AMENDED RETURN EXPLANATION
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0372341
IRS990/TotalAssetsEOYAmt0307950
IRS990/TotalAssetsGrp/BOYAmt0372341
IRS990/TotalAssetsGrp/EOYAmt0307950
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0384970
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0744549
IRS990/TotalFunctionalExpensesGrp/TotalAmt0744549
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0372341
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0307950
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0744549
IRS990/TotalProgramServiceRevenueAmt0295188
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0295188
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0680158
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0372341
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0307950
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt070
IRS990/TravelGrp/TotalAmt070
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0372341
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0307950
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05042 WILSHIRE BOULEVARD NO 24235
IRS990/USAddress/CityNm0LOS ANGELES
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090036
IRS990/VotingMembersGoverningBodyCnt016
IRS990/VotingMembersIndependentCnt016
IRS990/WebsiteAddressTxt0WWW.IIT.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0HUZEFA SHAKIR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO AND TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03105443355
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-06-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PANIIT INC
ReturnHeader/Filer/BusinessNameControlTxt0PANI
ReturnHeader/Filer/EIN0432047118
ReturnHeader/Filer/PhoneNum03105443355
ReturnHeader/Filer/USAddress/AddressLine1Txt05042 WILSHIRE BOULEVARD NO 24235
ReturnHeader/Filer/USAddress/CityNm0LOS ANGELES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd090036
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0203915596
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DALAL & COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01500 KING STREET STE 301
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALEXANDRIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0223142730
ReturnHeader/PreparerPersonGrp/PhoneNum07035481055
ReturnHeader/PreparerPersonGrp/PreparationDt02017-06-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RUSTAM J DALAL
ReturnHeader/ReturnTs02017-06-03T12:20:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$307,950
Liabilities
$0
Net assets
$307,950
Revenue
$680,158
Expenses
$744,549
Net income
-$64,391
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.58$2.58$0.81$0.81$0.00
2023Summary only. Only limited summary data is available for this year.$2.59$0.00$0.00$0.76$0.76
2022Detailed filing. Detailed filing data is available for this year.$3.34$0.00$3.34$0.00$0.58$0.57
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.92$0.00$3.92$0.03$2.05$2.03
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.94$0.00$5.94$5.34$1.29$4.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.90$0.00$1.90$0.05$0.42$0.37
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.28$0.00$2.28$0.02$0.31$0.28
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.56$0.00$2.56$0.00$0.68$0.68
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.24$0.00$3.24$0.50$0.34$0.16
2015Detailed filing. Detailed filing data is available for this year.$3.86$0.00$3.86$6.80$6.66$0.14
2015Detailed filing. Detailed filing data is available for this year.$3.08$0.00$3.08$6.80$7.45$0.64
2014Detailed filing. Detailed filing data is available for this year.$3.72$0.00$3.72$1.69$0.66$1.03
2013Detailed filing. Detailed filing data is available for this year.$2.69$0.00$2.69$0.05$0.43$0.38
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.07$0.00$3.07$0.79$0.41$0.38
2011Summary only. Only limited summary data is available for this year.$2.69$0.00$0.19$0.91$0.72
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.41$0.00$3.41$0.13$0.84$0.71