Civic Intelligence

Maker Bhavan Foundation

EIN 82-2933252 • 501(c)3 • Palo Alto, CA

Profile

To enable Stem Education in India to train students to be innovative and job-ready upon graduation. The foundation acts as a global resource for Indian engineering colleges to provide access to tools, equipment, financial resources, and knowledge so that the education imparted is more relevant and responsive to the real life needs of students and society at large.

1228 Harker AvenuePalo Alto, CA 94301

makerbhavanfoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

33rd percentile

0.00x

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

35th percentile

0.00x

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

82nd percentile

31%

Higher net margin than 82% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

92nd percentile

84%

Faster asset growth than 92% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

84th percentile

56%

Faster revenue growth than 84% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$639,503

Up $291,036 (+84%) from 2023

Liabilities

Down

$0

Down $1,585 (-100%) from 2023

Net Assets

Up

$639,503

Up $292,621 (+84%) from 2023

Operations
Liabilities / Revenue35th percentileNet Margin82nd percentile

Revenue

Up

$940,846

Up $338,563 (+56%) from 2023

Expenses

Up

$648,225

Up $150,966 (+30%) from 2023

Net Income

Up

$292,621

Up $187,597 (+179%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth92nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2017: $1Liabilities 2017: $02017Assets 2020: $34,413Liabilities 2020: $0Net Assets 2020: $34,4132020Assets 2021: $475,275Liabilities 2021: $0Net Assets 2021: $475,2752021Assets 2022: $246,428Liabilities 2022: $4,570Net Assets 2022: $241,8582022Assets 2023: $348,467Liabilities 2023: $1,585Net Assets 2023: $346,8822023Assets 2024: $639,503Liabilities 2024: $0Net Assets 2024: $639,5032024

Highlighted filing

2024

Assets$639,503
Liabilities$0
Net Assets$639,503
Open 2024 Filing

Operations Trend

Revenue Growth84th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2020: $549,026Expenses 2020: $554,621Net Income 2020: -$5,5952020Revenue 2021: $1,129,012Expenses 2021: $688,150Net Income 2021: $440,8622021Revenue 2022: $478,917Expenses 2022: $712,334Net Income 2022: -$233,4172022Revenue 2023: $602,283Expenses 2023: $497,259Net Income 2023: $105,0242023Revenue 2024: $940,846Expenses 2024: $648,225Net Income 2024: $292,6212024

Highlighted filing

2024

Revenue$940,846
Expenses$648,225
Net Income$292,621
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$639,503
Liabilities
$0
Net assets
$639,503
Revenue
$940,846
Expenses
$648,225
Net income
$292,621
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.64$0.00$0.64$0.94$0.65$0.29
2023Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.35$0.60$0.50$0.11
2022Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.24$0.48$0.71$0.23
2021Detailed filing. Detailed filing data is available for this year.$0.48$0.00$0.48$1.13$0.69$0.44
2020Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.55$0.55$0.01
2017Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 29, 2025
Return Version
2024v5.1
Gross Receipts
$940,846
Mission and Program Overview

Mission

To enable STEM education in India to train students to be innovative and job-ready upon graduation. The foundation acts as a global resource for Indian engineering colleges to provide access to tools, equipment, financial resources and knowledge so that the education imparted is more relevant and responsive to the real life needs of students and society at large.

To enable Stem Education in India to train students to be innovative and job-ready upon graduation. The foundation acts as a global resource for Indian engineering colleges to provide access to tools, equipment, financial resources, and knowledge so that the education imparted is more relevant and responsive to the real life needs of students and society at large.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$132,336$297,330▲ $164,994
Investments in Publicly Traded Securities$167,653$292,775▲ $125,122
Cash and Non-Interest-Bearing Accounts$42,893$45,631▲ $2,738
Prepaid Expenses and Deferred Charges$1,898$1,898→ $0
Land, Buildings, and Equipment, Net$3,686$1,867▼ $1,819
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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$348,467$639,503▲ $291,036
Other Assets Total$1$2▲ $1
Liabilities
Other Liabilities$1,585--
Total Liabilities$1,585$0▼ $1,585
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$346,882$639,503▲ $292,621
Total Net Assets Fund Balance$346,882$639,503▲ $292,621
Total Liabilities and Net Assets / Fund Balance$348,467$639,503▲ $291,036

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,867$3,588$5,455
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
dr hemant KanakiaChairman
ruyintan MehtaPresident
Dr Ravi MariwalaDirector
Dr Timothy GonsalvesDirector
ajay lavakareDirector
dr Ranbir SinghDirector
kirat PatelDirector
paula mariwalaDirector
shaibal royDirector
sudarshan sarafDirector
Ashish VengsarkarSecretary
Subhash TantryTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$925,181
Program Service Revenue
$0
Investment Income
$15,665
Other Revenue
$0
All Other Contributions
$925,181
Change in Net Assets
$292,621

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$109,497Nyse
Total Noncash Contributions1$109,497-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$512,089
Other Expenses$68,361
Salaries, Compensation, and Employee Benefits$67,775
Total Fundraising Expense$27,360
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$512,089--$512,089
Other Salaries and Wages-$67,775-$67,775
Advertising--$27,360$27,360
Office Expenses-$16,635-$16,635
Payment Travel Entrtnmnt Publicly Ofcl-$7,259-$7,259
Fees for Services Legal-$3,715-$3,715
Depreciation Depletion-$1,819-$1,819
Fees for Services Other-$504-$504
Other Expenses-$95-$95
Total Functional Expenses$512,089$108,776$27,360$648,225
International Activity

International Summary

Spending
$512,089

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
IndiaGrantmaking-00$512,089
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
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
Yes
Other officer compensation reviewed
Yes
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 11B

“A draft of the Form 990 is provided to all board members to review prior to filing.”

Form 990, Part VI, Section B, Line 15A

“The performance appriasal system for employees, executives and officers is confidential due to privacy concerns, however the board does evaluate all employees annually.”

Form 990, Part VI, Section B, Line 15B

“The performance appriasal system for employees, executives and officers is confidential due to privacy concerns, however the board does evaluate all employees annually.”

Form 990, Part VI, Section C, Line 19

“These documents, as applicable, are available upon request.”

Form 990 Part VI, Section B Line 11B

“A Draft of the form 990 is provided to all board members to review prior to filing”

Form 990 Part VI, Section C, Line 19

“These documents, as applicable are available upon request”

Filing and Contact Details

Filer

Filer Name
Maker Bhavan Foundation
EIN
82-2933252
Phone
6503466300
Address
1228 Harker Avenue, Palo Alto, CA 94301

Signing Officer

Name
Subhash Tantry
Title
Treasurer
Signed
2025-05-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Subhash Tantry
Formed
2017
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
12

Preparer

Firm
Weber & Company Inc
Address
2021 THE ALAMEDA STE 380, SAN JOSE, CA 95126
Preparer
Trevor Thomas
Phone
4089316201
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IRS990/MissionDesc0To enable Stem Education in India to train students to be innovative and job-ready upon graduation. The foundation acts as a global resource for Indian engineering colleges to provide access to tools, equipment, financial resources, and knowledge so that the education imparted is more relevant and responsive to the real life needs of students and society at large.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Tinkerers Labs (TLs) are academic makerspaces established in collaboration with Higher Education Institutions (HEIs) across India. In 2024, Maker Bhavan Foundation (MBF) launched a new TL at IIT Ropar in Rupnagar, Punjab, bringing the total to 12 labs nationwide. The setup cost for the new facility is USD 100,000, of which USD 48,286.97 was disbursed in 2024 as the initial tranche. A state-of-the-art Management Information System was also developed and deployed to enhance lab operations. USD 87,112.97 was expended in 2024 toward development costs.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Invention Factory (IF) is a flagship, six-week, residential summer program designed for undergraduate engineering and design students in India. In 2024, it was held at IIT Bombay, IIT Gandhinagar, and IIT Jammu. A total of 30 student teams (58 students) from 15 IITs, 3 NITs, and 16 private colleges participated, culminating in 30 provisional patent filings in both the U.S. and India. Program expenses totaled USD 117,701.70 in 2024.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0Collaborative Classrooms (CC) - IIT Bombay - The Collaborative Classroom in the Department of Electrical Engineering at IIT Bombay supports faculty in embedding active learning strategies. In 2024, 13 courses were taught in this space, engaging 685 students. More than 70 projects were created in the Experiential Learning Lab. MBF disbursed the third and final grant of USD 49,000 for this initiative.
IRS990/ProgSrvcAccomActyOtherGrp/Desc1Centre for Healthcare Entrepreneurship set up with the objectiveof catalysing healthcare innovation to bring about affordable solutions toaddress healthcare needs of India. CfHe will spark of entrepreneurship in youthand provide them with focused hands-on education, training and top-notchmentorship.
IRS990/ProgSrvcAccomActyOtherGrp/Desc2The Technovation Sandbox leverages the living lab model to empower students to create real-world, deployable solutions on campus. In 2024, USD 13,800 was spent to support the implementation of 10 student-led projects at IIT Bombay, promoting innovation, leadership, and entrepreneurial thinking.
IRS990/ProgSrvcAccomActyOtherGrp/Desc3Vishwakarma Awards - MBFs annual nationwide student challenge focused on sustainability themes in 2024. The program received 526 applications434 from private institutions, 61 from IITs, and 26 from NITs. Eighteen teams were selected for the Grand Finale, with six ultimately named national winners. Program costs for the year were USD 11,187.50.
IRS990/ProgSrvcAccomActyOtherGrp/Desc4Learn Engineering by Activity Program (LEAP)- Incubated at IIT Madras Research Park, LEAP is an experiential learning initiative originally seeded by MBF. In 2024, MBF released the final grant installment of USD 5,000. The program expanded to 14 Tier II and III institutions, reaching 3,234 students. Additionally, 270 faculty members were trained, and students built 120 engineering projects.
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