Civic Intelligence

Bloom India Development Foundation Inc.

990 • Fiscal year 2023 • EIN 80-0727023

Jan 01, 2023 to Dec 31, 2023 • Filed on May 13, 2024

Organization Profilewww.bloomindia.com
56 Lorena RoadWinchester, MA 01890

(215) 850-6799

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.00x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

83rd percentile

33%

Higher net margin than 83% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

87th percentile

49%

Faster asset growth than 87% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

20th percentile

-16%

Faster revenue growth than 20% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$685,058

Up $225,695 (+49%) from 2022

Net Assets

Up

$685,058

Up $225,695 (+49%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin83rd percentile

Revenue

Down

$680,325

Down $133,550 (-16%) from 2022

Expenses

Down

$454,526

Down $263,756 (-37%) from 2022

Net Income

Up

$225,799

Up $130,206 (+136%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

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

$800K$600K$400K$200K$0Assets 2012: $537Net Assets 2012: $5372012Assets 2019: $14,064Liabilities 2019: $02019Assets 2020: $228,773Liabilities 2020: $0Net Assets 2020: $228,7732020Assets 2021: $363,770Liabilities 2021: $0Net Assets 2021: $363,7702021Assets 2022: $459,363Liabilities 2022: $0Net Assets 2022: $459,3632022Assets 2023: $685,058Liabilities 2023: $0Net Assets 2023: $685,0582023Assets 2024: $799,327Liabilities 2024: $0Net Assets 2024: $799,3272024

Highlighted filing

2023

Assets$685,058
Liabilities$0
Net Assets$685,058
Open 2023 Filing

Operations Trend

Revenue Growth20th percentile

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

$1.5M$1.0M$500K$0Expenses 2012: $1,0632012Revenue 2019: $13,674Expenses 2019: $110Net Income 2019: $13,5642019Revenue 2020: $817,189Expenses 2020: $602,480Net Income 2020: $214,7092020Revenue 2021: $1,340,373Expenses 2021: $1,205,376Net Income 2021: $134,9972021Revenue 2022: $813,875Expenses 2022: $718,282Net Income 2022: $95,5932022Revenue 2023: $680,325Expenses 2023: $454,526Net Income 2023: $225,7992023Revenue 2024: $864,243Expenses 2024: $660,640Net Income 2024: $203,6032024

Highlighted filing

2023

Revenue$680,325
Expenses$454,526
Net Income$225,799
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 13, 2024
Return Version
2023v5.1
Gross Receipts
$680,325
Mission and Program Overview

Mission

The purposes for which this corporation is formed are set forth in the articles of incorporation and by-laws. The corporation is organized and shall be operated exclusively for charitable and educational purposes within the meaning of section 501(c)(3) of the internal revenue code of 1986, as amended, and as a not-for-profit corporation pursuant to massachuseets law. More particularly, the purposes of the corporation are: a. Our primary mission is to redefine the future for at-risk children in highly impoverished areas by providing world class academies. B. To engage in other charitable, and educational activities that support the foregoing purposes and are not otherwise prohibited by the articles of incorporation or applicable law. C. To engage in any and all lawful activities as determined by the board of directors.

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$438,441$685,058▲ $246,617
Total Assets$459,258$685,058▲ $225,800
Other Assets Total$20,817--
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$459,258$685,058▲ $225,800
Total Net Assets Fund Balance$459,258$685,058▲ $225,800
Total Liabilities and Net Assets / Fund Balance$459,258$685,058▲ $225,800
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Dennis MathewPresident
Abraham PaulDirector
Jocelyn KuryanDirector
John KuryanDirector
Johnson ParayilDirector
Robin JohnDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$680,325
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$680,325
Change in Net Assets
$225,799
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$378,229
Total Fundraising Expense$113,016
Salaries, Compensation, and Employee Benefits$76,297
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$218,841$25,201$113,016$357,058
Other Salaries and Wages$76,297$0$0$76,297
Advertising$0$11,367$0$11,367
Office Expenses$0$3,536$0$3,536
Travel$0$3,006$0$3,006
Information Technology$0$2,012$0$2,012
Fees for Services Accounting$0$1,250$0$1,250
Total Functional Expenses$295,138$46,372$113,016$454,526
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
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
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
Filing and Contact Details

Filer

Filer Name
Bloom India Development Foundation Inc
EIN
80-0727023
Phone
2158506799
Address
56 Lorena Road, Winchester, MA 01890

Signing Officer

Name
Dennis Mathew
Title
President
Phone
2158506799
Signed
2024-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dennis Mathew
Formed
2012
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
OneAscent Wealth Management LLC
Address
23 Inverness Center Pkwy, Birmingham, AL 35242
Preparer
Philip Johnston CPA
Phone
2053139142
Supplemental Narrative

Additional Explanations

Other

“Form 990 - Organizations Mission: The purpose for which this corporation is formed are set forth in the Article of Incorporation and By-laws. The corporation is organized and shall be operated exclusively for charitable and educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and as a not-for-profit Corporation pursuant to Massachusetts law. More particularly, the purposes of the Corporation are: (a) To redefine the future for at-risk children in highly impoverished areas by providing world class academies; (b) To engage in other charitable and educational activities that support the foregoing purposes and are not otherwise prohibited by the Articles of Incorporation or applicable law; (c) To engage in any and all lawful activities as determined by the Board of Directors”

Pt VI, Line 2

“Dennis Mathew (President) and Elizabeth Mathew (Treasurer) - Husband/Wife; John Kuryan (Director) and Jocelyn Kuryan (Director) - Husband/Wife”

Pt VI, Line 11B

“The BoD met to review the Form 990. Each section was reviewed. Any questions were sent to preparer for answer/clarification.”

Form 990, Part IX, Line 24E

“Media Expenses 1650. 1650. 0. 0.”

Form 990, Part IX, Line 24E

“Event Expenses 103930. 0. 0. 103930.”

Form 990, Part IX, Line 24E

“Donor Management 9086. 0. 0. 9086.”

Form 990, Part IX, Line 24E

“Donor Database 25201. 0. 25201. 0.”

Form 990, Part IX, Line 24E

“Bloom India Programs 217191. 217191. 0. 0.”

Raw XML Appendix344 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/ProgSrvcAccomActy2Grp/Desc0We are pleased to partner with The Darsha Academy, a Pre-University Course (PUC) that prepares resilient young women for leadership and community transformation through education and character development. PUCs are similar to an 11th and 12th grade in the US. It is required for students entering university but is often unaffordable to low-income families. Darsha focuses on STEM-based curriculum to prepare young women for studying in a math and science focused university. We are excited to see young women empowered and equipped to pursue their dreams!
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IRS990/ProgSrvcAccomActy3Grp/Desc0Bloom USA - Our primary mission is to redefine the future for at-risk children in highly impoverished areas by providing world-class academies. Our vision is to provide high-quality education to underprivileged children and break the bondage of poverty, injustice, and social discrimination.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 - Organizations Mission: The purpose for which this corporation is formed are set forth in the Article of Incorporation and By-laws. The corporation is organized and shall be operated exclusively for charitable and educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and as a not-for-profit Corporation pursuant to Massachusetts law. More particularly, the purposes of the Corporation are: (a) To redefine the future for at-risk children in highly impoverished areas by providing world class academies; (b) To engage in other charitable and educational activities that support the foregoing purposes and are not otherwise prohibited by the Articles of Incorporation or applicable law; (c) To engage in any and all lawful activities as determined by the Board of Directors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Dennis Mathew (President) and Elizabeth Mathew (Treasurer) - Husband/Wife; John Kuryan (Director) and Jocelyn Kuryan (Director) - Husband/Wife
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The BoD met to review the Form 990. Each section was reviewed. Any questions were sent to preparer for answer/clarification.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Media Expenses 1650. 1650. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Event Expenses 103930. 0. 0. 103930.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Donor Management 9086. 0. 0. 9086.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Donor Database 25201. 0. 25201. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Bloom India Programs 217191. 217191. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Other
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0459258
IRS990/TotalAssetsEOYAmt0685058
IRS990/TotalAssetsGrp/BOYAmt0459258
IRS990/TotalAssetsGrp/EOYAmt0685058
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0680325
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0113016
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt046372
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0295138
IRS990/TotalFunctionalExpensesGrp/TotalAmt0454526
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0459258
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0685058
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0295138
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0680325
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0459258
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0685058
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt03006
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt03006
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt031 Tall Oaks Drive
IRS990/USAddress/CityNm0Feasterville Trevose
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019053
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0www.bloomindia.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Dennis Mathew
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum02158506799
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Bloom India Development Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0BLOO
ReturnHeader/Filer/EIN0800727023
ReturnHeader/Filer/PhoneNum02158506799
ReturnHeader/Filer/USAddress/AddressLine1Txt056 Lorena Road
ReturnHeader/Filer/USAddress/CityNm0Winchester
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001890
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0850895057
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0OneAscent Wealth Management LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt023 Inverness Center Pkwy
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Birmingham
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd035242
ReturnHeader/PreparerPersonGrp/PhoneNum02053139142
ReturnHeader/PreparerPersonGrp/PreparationDt02024-10-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Philip Johnston CPA
ReturnHeader/ReturnTs02024-10-17T09:37:29-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$685,058
Liabilities
$0
Net assets
$685,058
Revenue
$680,325
Expenses
$454,526
Net income
$225,799
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$0.00$0.80$0.86$0.66$0.20
2023Detailed filing. Detailed filing data is available for this year.$0.69$0.00$0.69$0.68$0.45$0.23
2022Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$0.81$0.72$0.10
2021Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$1.34$1.21$0.13
2020Detailed filing. Detailed filing data is available for this year.$0.23$0.00$0.23$0.82$0.60$0.21
2019Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$0.00$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00