Civic Intelligence

Gurnani Foundation

990 • Fiscal year 2020 • EIN 47-3319698

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 27, 2022

Organization ProfileN/A
555 Secaucus RoadSecaucus, NJ 07094

(201) 342-7753

Siviq Scores

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

Liabilities / Assets

66th percentile

0.00x

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

2020 filings • NTEE T12 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

65th percentile

0.00x

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

2020 filings • NTEE T12 • <$500k nonprofits • Source year 2020

Net Margin

92nd percentile

94%

Higher net margin than 92% of similar nonprofits.

2020 filings • NTEE T12 • <$500k nonprofits • Source year 2020

Top Officer Pay

97th percentile

$0

Higher top officer pay than 97% of similar nonprofits.

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

2020 filings • NTEE T12 • <$500k nonprofits • Source year 2020

Asset Growth

70th percentile

23%

Faster asset growth than 70% of similar nonprofits.

2020 filings • NTEE T12 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

26th percentile

-60%

Faster revenue growth than 26% of similar nonprofits.

2020 filings • NTEE T12 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$495,431

Up $93,182 (+23%) from 2019

Net Assets

Up

$495,431

Up $93,182 (+23%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin92nd percentile

Revenue

Down

$99,240

Down $151,916 (-60%) from 2019

Expenses

Up

$6,059

Up $6,007 (+11552%) from 2019

Net Income

Down

$93,181

Down $157,923 (-63%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$1.5M$1.0M$500K$0Assets 2018: $151,145Liabilities 2018: $0Net Assets 2018: $151,1452018Assets 2019: $402,249Liabilities 2019: $0Net Assets 2019: $402,2492019Assets 2020: $495,431Liabilities 2020: $0Net Assets 2020: $495,4312020Assets 2021: $805,980Liabilities 2021: $0Net Assets 2021: $805,9802021Assets 2022: $622,777Liabilities 2022: $0Net Assets 2022: $622,7772022Assets 2023: $1,156,709Liabilities 2023: $0Net Assets 2023: $1,156,7092023Assets 2024: $1,259,385Liabilities 2024: $0Net Assets 2024: $1,259,3852024

Highlighted filing

2020

Assets$495,431
Liabilities$0
Net Assets$495,431
Open 2020 Filing

Operations Trend

Revenue Growth26th percentile

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

$600K$400K$200K$0-$200KRevenue 2018: $69,000Expenses 2018: $11,276Net Income 2018: $57,7242018Revenue 2019: $251,156Expenses 2019: $52Net Income 2019: $251,1042019Revenue 2020: $99,240Expenses 2020: $6,059Net Income 2020: $93,1812020Revenue 2021: $337,477Expenses 2021: $26,928Net Income 2021: $310,5492021Revenue 2022: $243,023Expenses 2022: $269,281Net Income 2022: -$26,2582022Revenue 2023: $452,901Expenses 2023: $13,014Net Income 2023: $439,8872023Revenue 2024: $312,994Expenses 2024: $262,119Net Income 2024: $50,8752024

Highlighted filing

2020

Revenue$99,240
Expenses$6,059
Net Income$93,181
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 27, 2022
Return Version
2020v4.2
Gross Receipts
$99,240
Mission and Program Overview

Mission

The foundation has been organized exclusivly for religious, charitable, scientific, educational and literary purposes, the making of distributions to organizations that qualify as exempt and provide support for needy individuals

Assist in the completion of the sadhu vaswani hindu cultural center and temple

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$402,250$495,431▲ $93,181
Savings and Temporary Cash Investments$350,164$484,404▲ $134,240
Cash and Non-Interest-Bearing Accounts$52,086$11,027▼ $41,059
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$402,250$495,431▲ $93,181
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$402,250$495,431▲ $93,181
Total Liabilities and Net Assets / Fund Balance$402,250$495,431▲ $93,181
Compensation and Service Providers
Top Officer Pay97th percentile

Board Members and Trustees

NameTitle
Ashok GurnaniPresident
Taraprasad Ashok GurnaniDirector
Veena Ashok GurnaniDirector
Joel ParitzTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$95,000
Program Service Revenue
$0
Investment Income
$4,240
Other Revenue
$0
All Other Contributions
$95,000
Change in Net Assets
$93,181
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,000
Other Expenses$59
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$6,000--$6,000
Fees for Services Other-$59-$59
Total Functional Expenses$6,000$59$0$6,059
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
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Ashok gurnani (director/president) and veena gurnani (director/secretary) are related by marriage; taraprasad gurnani (director/vice president) is related to them by blood”

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

“The organization had several meetings attended by all directors to review financials plans, results, and compliance.”

Form 990, Part VI, Section B, Line 12C

“Full disclosure of potential conflicts of interest was pursued at periodic meetings”

Form 990, Part VI, Section C, Line 19

“All requests must be in writing and the policy of the organization is to provide all organization documents and a copy of the tax filing if requested.”

FORM 990, PART VI, SECTION A, LINE 2:

“Ashok gurnani (director/president) and veena gurnani (director/secretary) are related by marriage; taraprasad gurnani (director/vice president) is related to them by blood”

Filing and Contact Details

Filer

Filer Name
Gurnani Foundation
EIN
47-3319698
Phone
2013427753
Address
555 SECAUCUS ROAD, SECAUCUS, NJ 07094
Doing Business As
Gurnani Foundation

Signing Officer

Name
Ashok Gurnani
Title
President
Phone
2013427753
Signed
2022-04-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ashok Gurnani
Formed
2015
Legal Domicile
Nj
Voting Board Members
4
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Prager Metis Cpas LLC
Address
401 HACKENSACK AVE 4TH FLOOR, HACKENSACK, NJ 07601
Preparer
Joel Paritz CPA
Phone
2013427753
Raw XML Appendix313 raw XML fields

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/MinutesOfCommitteesInd01
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IRS990/MissionDesc0THE FOUNDATION HAS BEEN ORGANIZED EXCLUSIVLY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, EDUCATIONAL AND LITERARY PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT AND PROVIDE SUPPORT FOR NEEDY INDIVIDUALS
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt0495431
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0PROGRAM ACCOMPLISHMENTS WILL BEGIN IN 2020 AND WILL CONSIST OF ASSISTANCE IN THE COMPLETION OF THE HINDU TEMPLE AND SERVICES PROVIDED TO THE NEEDY IN CONNECTION THEREWITH.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ASHOK GURNANI (DIRECTOR/PRESIDENT) AND VEENA GURNANI (DIRECTOR/SECRETARY) ARE RELATED BY MARRIAGE; TARAPRASAD GURNANI (DIRECTOR/VICE PRESIDENT) IS RELATED TO THEM BY BLOOD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAD SEVERAL MEETINGS ATTENDED BY ALL DIRECTORS TO REVIEW FINANCIALS PLANS, RESULTS, AND COMPLIANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FULL DISCLOSURE OF POTENTIAL CONFLICTS OF INTEREST WAS PURSUED AT PERIODIC MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL REQUESTS MUST BE IN WRITING AND THE POLICY OF THE ORGANIZATION IS TO PROVIDE ALL ORGANIZATION DOCUMENTS AND A COPY OF THE TAX FILING IF REQUESTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ASHOK GURNANI (DIRECTOR/PRESIDENT) AND VEENA GURNANI (DIRECTOR/SECRETARY) ARE RELATED BY MARRIAGE; TARAPRASAD GURNANI (DIRECTOR/VICE PRESIDENT) IS RELATED TO THEM BY BLOOD
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION A, LINE 2:
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PRAGER METIS CPAS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0401 HACKENSACK AVE 4TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HACKENSACK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007601
ReturnHeader/PreparerPersonGrp/PhoneNum02013427753
ReturnHeader/PreparerPersonGrp/PreparationDt02022-04-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOEL PARITZ CPA
ReturnHeader/ReturnTs02022-05-04T15:30:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ASHOK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GURNANI
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$495,431
Liabilities
$0
Net assets
$495,431
Revenue
$99,240
Expenses
$6,059
Net income
$93,181
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.26$0.00$1.26$0.31$0.26$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.16$0.00$1.16$0.45$0.01$0.44
2022Detailed filing. Detailed filing data is available for this year.$0.62$0.00$0.62$0.24$0.27$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.81$0.00$0.81$0.34$0.03$0.31
2020Detailed filing. Detailed filing data is available for this year.$0.50$0.00$0.50$0.10$0.01$0.09
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.40$0.00$0.40$0.25$0.00$0.25
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.15$0.00$0.15$0.07$0.01$0.06