Civic Intelligence

Iitk Fund Inc.

990 • Fiscal year 2017 • EIN 81-2209935

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 12, 2018

Organization ProfileNot Applicable
62 William Street 2nd FloorNew York, NY 10005

(646) 418-5852

Siviq Scores

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

Liabilities / Assets

56th percentile

0.05x

Higher debt load relative to assets than 56% of similar nonprofits.

2017 filings • NTEE Q • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

24th percentile

0.00x

Higher debt load relative to revenue than 24% of similar nonprofits.

2017 filings • NTEE Q • $1M-$5M nonprofits • Source year 2017

Net Margin

46th percentile

4.3%

Higher net margin than 46% of similar nonprofits.

2017 filings • NTEE Q • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

43rd percentile

$0

Higher top officer pay than 43% of similar nonprofits.

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

2017 filings • NTEE Q • $1M-$5M nonprofits • Source year 2017

Asset Growth

94th percentile

202%

Faster asset growth than 94% of similar nonprofits.

2017 filings • NTEE Q • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

99th percentile

1378%

Faster revenue growth than 99% of similar nonprofits.

2017 filings • NTEE Q • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$70,888

Up $47,417 (+202%) from 2016

Net Assets

$67,429

No earlier filing loaded for comparison.

Liabilities

Flat

$3,459

Flat from 2016

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin46th percentile

Revenue

Up

$1,101,962

Up $1,027,429 (+1378%) from 2016

Expenses

Up

$1,054,545

Up $1,000,024 (+1834%) from 2016

Net Income

Up

$47,417

Up $27,405 (+137%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$400K$300K$200K$100K$0Assets 2016: $23,471Liabilities 2016: $3,4592016Assets 2017: $70,888Liabilities 2017: $3,459Net Assets 2017: $67,4292017Assets 2018: $274,433Liabilities 2018: $2,234Net Assets 2018: $272,1992018Assets 2019: $322,121Liabilities 2019: $2,234Net Assets 2019: $319,8872019Assets 2020: $251,680Liabilities 2020: $2,234Net Assets 2020: $249,4462020Assets 2021: $212,032Liabilities 2021: $2,234Net Assets 2021: $209,7982021Assets 2022: $166,019Liabilities 2022: $2,234Net Assets 2022: $163,7852022

Highlighted filing

2017

Assets$70,888
Liabilities$3,459
Net Assets$67,429
Open 2017 Filing

Operations Trend

Revenue Growth99th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2016: $74,533Expenses 2016: $54,521Net Income 2016: $20,0122016Revenue 2017: $1,101,962Expenses 2017: $1,054,545Net Income 2017: $47,4172017Revenue 2018: $513,004Expenses 2018: $308,234Net Income 2018: $204,7702018Revenue 2019: $714,295Expenses 2019: $663,607Net Income 2019: $50,6882019Revenue 2020: $506,984Expenses 2020: $577,425Net Income 2020: -$70,4412020Revenue 2021: $42,340Expenses 2021: $81,988Net Income 2021: -$39,6482021Revenue 2022: $4,722Expenses 2022: $50,735Net Income 2022: -$46,0132022

Highlighted filing

2017

Revenue$1,101,962
Expenses$1,054,545
Net Income$47,417
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 12, 2018
Return Version
2017v2.3
Gross Receipts
$1,101,962
Mission and Program Overview

Mission

IITK Fund has been organized to provide charitable distributions to qualifying non-profit organizations

IITK Fund has been organized to provide charitable distributions to qualifying non-profit organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$51,026-
Cash and Non-Interest-Bearing Accounts$23,471$19,862▼ $3,609
Loans From Officers Directors$3,459$3,459→ $0
Total Assets$23,471$70,888▲ $47,417
Liabilities
Total Liabilities$3,459$3,459→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$20,012$67,429▲ $47,417
Total Net Assets Fund Balance$20,012$67,429▲ $47,417
Total Liabilities and Net Assets / Fund Balance$23,471$70,888▲ $47,417
Compensation and Service Providers
Top Officer Pay43rd percentile

Board Members and Trustees

NameTitle
Sanjiv KhoslaPresident/Treasurer
Taranbir SinghDirector
Sripat PandeySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,101,947
Program Service Revenue
$0
Investment Income
$15
Other Revenue
$0
All Other Contributions
$1,101,947
Change in Net Assets
$47,417

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,101,962
Total Revenue per Audited Statements
$1,101,962
Total Revenue per Form 990
$1,101,962
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,050,000
Other Expenses$4,545
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$1,050,000--$1,050,000
Fees for Services Accounting-$4,495-$4,495
Other Expenses-$50-$50
Total Functional Expenses$1,050,000$4,545$0$1,054,545

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,057,095
Expenses per Audited Statements$1,054,545
Total Expenses per Form 990$1,054,545
Expenses Not Reported on Form 990$2,550
International Activity

International Summary

Spending
$1,050,000

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AsiaGrants to recipients located in India---$1,050,000
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
Loans from Officers, Directors, Trustees, and Key Employees$3,459$3,459→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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 B, Line 11B

“The organization reviews the 990 form at a board meeting prior to submitting to the IRS.”

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

“The organization enforced compliance with its conflict of interest policy by reviewing it at board meetings.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financials statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
IITK Fund Inc
EIN
81-2209935
Phone
6464185852
Address
62 William Street 2nd Floor, New York, NY 10005

Signing Officer

Name
Sanjiv Khosla
Title
PresidentTreasurer
Signed
2018-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sanjiv Khosla
Formed
2016
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Foundation Group Inc
Address
1321 Murfreesboro Pike Ste 610, Nashville, TN 37217
Preparer
William G McRay
Phone
6153619445
Supplemental Narrative

Financial Statement Notes

XII 2D

“The organization uses cash basis accounting for the Form 990 filing. However, the audited financials were prepared in accrual basis in accordance with GAAP. This resulted in additional Management Expenses of 2,550 being included in the audited financial statements that are not listed on the 2017 Form 990. This expense was accrued for auditing services.”

Raw XML Appendix340 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization makes its governing documents, conflict of interest policy, and financials statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01101962
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt023471
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt070888
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt020012
IRS990/UnrestrictedNetAssetsGrp/EOYAmt067429
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt062 William Street 2nd Floor
IRS990/USAddress/CityNm0New York
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010005
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0Not Applicable
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Sanjiv Khosla
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PresidentTreasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IITK Fund Inc
ReturnHeader/Filer/BusinessNameControlTxt0IITK
ReturnHeader/Filer/EIN0812209935
ReturnHeader/Filer/PhoneNum06464185852
ReturnHeader/Filer/USAddress/AddressLine1Txt062 William Street 2nd Floor
ReturnHeader/Filer/USAddress/CityNm0New York
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010005
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B8CE4D7DDE02638382EA973DA478B527BC0631BB
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0B8CE4D7DDE02638382EA973DA478B527BC0631BB
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.10.209.165
ReturnHeader/FilingSecurityInformation/IPDt02018-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm002:18:42
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Foundation Group Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01321 Murfreesboro Pike Ste 610
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Nashville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd037217
ReturnHeader/PreparerPersonGrp/PhoneNum06153619445
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0William G McRay
ReturnHeader/ReturnTs02018-11-12T08:19:14-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$70,888
Liabilities
$3,459
Net assets
$67,429
Revenue
$1,101,962
Expenses
$1,054,545
Net income
$47,417
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.16$0.00$0.05$0.05
2021Detailed filing. Detailed filing data is available for this year.$0.21$0.00$0.21$0.04$0.08$0.04
2020Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$0.51$0.58$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.32$0.00$0.32$0.71$0.66$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.51$0.31$0.20
2017Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$1.10$1.05$0.05
2016Summary only. Only limited summary data is available for this year.$0.02$0.00$0.07$0.05$0.02