Civic Intelligence

Iisc Foundation

990 • Fiscal year 2023 • EIN 88-0766543

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 07, 2024

Organization ProfileIISCFOUNDATION.ORG
910 Clove Glen CTAllen, TX 75002

(214) 284-9027

Siviq Scores

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

Liabilities / Assets

49th percentile

0.06x

Higher debt load relative to assets than 49% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

27th percentile

0.01x

Higher debt load relative to revenue than 27% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

44th percentile

1.3%

Higher net margin than 44% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

72nd percentile

16%

Faster asset growth than 72% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

98th percentile

555%

Faster revenue growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$308,708

Up $42,400 (+16%) from 2022

Net Assets

Up

$290,185

Up $23,877 (+9.0%) from 2022

Liabilities

Up

$18,523

Up $18,523 from 2022

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin44th percentile

Revenue

Up

$1,788,167

Up $1,515,214 (+555%) from 2022

Expenses

Up

$1,764,290

Up $1,757,645 (+26451%) from 2022

Net Income

Down

$23,877

Down $242,431 (-91%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

$800K$600K$400K$200K$0Assets 2022: $266,308Liabilities 2022: $0Net Assets 2022: $266,3082022Assets 2023: $308,708Liabilities 2023: $18,523Net Assets 2023: $290,1852023Assets 2024: $694,752Liabilities 2024: $336,120Net Assets 2024: $358,6322024

Highlighted filing

2023

Assets$308,708
Liabilities$18,523
Net Assets$290,185
Open 2023 Filing

Operations Trend

Revenue Growth98th percentile

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

$2.0M$1.5M$1.0M$500K$0Revenue 2022: $272,953Expenses 2022: $6,645Net Income 2022: $266,3082022Revenue 2023: $1,788,167Expenses 2023: $1,764,290Net Income 2023: $23,8772023Revenue 2024: $1,891,082Expenses 2024: $1,822,635Net Income 2024: $68,4472024

Highlighted filing

2023

Revenue$1,788,167
Expenses$1,764,290
Net Income$23,877
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 7, 2024
Return Version
2023v5.1
Gross Receipts
$1,788,167
Mission and Program Overview

Mission

The specific purpose, mission, and activity of the corporation is to secure funding for promoting education, research, technology development, startup incubation, acceleration, and translational research at the indian institute of science (iisc) in bangalore,india.

The specific purpose, mission, and activity of the corporation is to secure funding for promoting education, research, technology development, startup incubation, acceleration, and translational research at the indian institute of science (iisc) in bangalore, india. The corporation will achieve its goals and mission by providing financial and other resources to iisc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$266,308$290,185▲ $23,877
Cash and Non-Interest-Bearing Accounts$266,308$204,657▼ $61,651
Savings and Temporary Cash Investments-$104,051-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$266,308$308,708▲ $42,400
Liabilities
Deferred Revenue-$18,523-
Total Liabilities$0$18,523▲ $18,523
Net Assets / Fund Balance
Total Net Assets Fund Balance$266,308$290,185▲ $23,877
Total Liabilities and Net Assets / Fund Balance$266,308$308,708▲ $42,400
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
George BrodyPresident
Katepalli Raju SreenivasanDirector
Mrinalini LakshminarayananDirector
Prahlad DoddaballapurDirector
Shekhar KiraniDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,784,319
Program Service Revenue
$0
Investment Income
$3,848
Other Revenue
$0
All Other Contributions
$1,784,319
Change in Net Assets
$23,877

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 Traded505$100,353Fair Market Value
Total Noncash Contributions505$100,353-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,739,734
Other Expenses$24,556
Total Fundraising Expense$6,472
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$1,739,734--$1,739,734
Advertising--$6,472$6,472
Fees for Services Accounting-$5,141-$5,141
Fees for Services Legal-$4,419-$4,419
Travel-$3,989-$3,989
Office Expenses-$1,919-$1,919
Other Expenses-$229-$229
All Other Expenses-$16-$16
Total Functional Expenses$1,739,734$18,084$6,472$1,764,290
International Activity

International Summary

Offices
0
Employees
0
Spending
$0

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
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 6

“The organization has has the following board of directors of the company: president: george brody director : prahlad doddaballapur director : katepalli raju sreenivasan”

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

“A copy of form 990 has been provided to and reviewed by the organization's board members before it was filed.”

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

“Iisc and the foundation shall amicably resolve all conflicts between them and operate proactively to identify and appropriately manage potential conflicts of interest involving iisc directors, officers and employees, foundation board members, officers, and staff. The conflict of interest provisions of both the iisc policies and the foundation's policies are expressively applicable to all interactions between iisc and the foundation. In cases where the conflict of interest policies of iisc and the foundation conflict, the more restrictive policy will control.”

Form 990, Part VI, Section B, Line 15

“Directors, officers, and members of committees may be reimbursed for any expenses that are determined by resolution of the board to be just and reasonable. Officers may be paid compensation in a reasonable amount for services provided to the corporation.”

Form 990, Part VI, Section C, Line 19

“Organizational documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Iisc Foundation
EIN
88-0766543
Phone
2142849027
Address
910 CLOVE GLEN CT, ALLEN, TX 75002

Signing Officer

Name
George Brody
Title
President
Phone
2142849027
Signed
2024-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Brody
Formed
2022
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Ahuja & Clark Pllc
Address
2901 N DALLAS PARKWAY SUITE 320, PLANO, TX 75093-8449
Preparer
Divyashree K Shetty
Phone
4694674660
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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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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0TO SUPPORT EDUCATION, RESEARCH, TECHNOLOGY, FUND EQUIPMENT, FACILITIES, LIBRARY RESOURCES, HOSPITAL COSTS, SCHOLARSHIPS, FELLOWSHIPS, ENDOWMENTS, AND FACULTY POSITIONS AT THE INDIAN INSTITUTE OF SCIENCE (IISC) IN BANGALORE, INDIA
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0THE IISC FOUNDATION WORKS WITH THE BENEFICIARY INSTITUTION(S) TO CONDUCT DUE DILIGENCE ON THE BENEFICIARY INSTITUTION(S) BEFORE ESTABLISHING ANY PROJECT. THIS DUE DILIGENCE CONSISTS OF WORKING WITH THE BENEFICIARY INSTITUTION'S ADMINISTRATIVE TEAMS TO ENSURE THAT A IISC FOUNDATION'S GRANT INTENTIONS CAN BE HONORED THROUGH ANY PROJECT ESTABLISHED AT THE BENEFICIARY INSTITUTION BEFORE THE IISC FOUNDATION DEPLOYS FUNDS OUTSIDE OF THE U.S. ONCE A PROJECT IS IDENTIFIED AND THE MATERIAL ASPECTS OF THE PROJECT ARE UNDERSTOOD AND AGREED UPON (INCLUDING OUTLINE OF KEY EXPENSES, ETC.), THEN THE IISC FOUNDATION DEPLOYS THE FUNDS AND MAINTAINS A DIGITAL RECORD OF THE SCOPE OF EACH PROJECT. IISC FOUNDATION THEN WORKS WITH THE BENEFICIARY INSTITUTION TO ESTABLISH AN UPDATE REPORT FOR EACH PROJECT ALONG WITH THE CADENCE FOR SAID REPORT. THE CADENCE OF THE UPDATE REPORTS VARIES FROM ONE-TIME FOR SMALLER PROJECTS TO OTHER TIMELINES FOR LARGER PROJECTS INCLUDING, BUT NOT LIMITED TO, ONCE A QUARTER, ONCE A YEAR, OR SEMI-ANNUALLY, DEPENDING ON THE NATURE OF THE PROJECT. IISC FOUNDATION'S BOARD MEMBERS ALSO ENGAGE WITH THE BENEFICIARY INSTITUTION MONTHLY AND VISIT THE INSTITUTION(S) PERIODICALLY TO MONITOR PROGRESS ON SOME OF THE PROJECTS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS HAS THE FOLLOWING BOARD OF DIRECTORS OF THE COMPANY: PRESIDENT: GEORGE BRODY DIRECTOR : PRAHLAD DODDABALLAPUR DIRECTOR : KATEPALLI RAJU SREENIVASAN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF FORM 990 HAS BEEN PROVIDED TO AND REVIEWED BY THE ORGANIZATION'S BOARD MEMBERS BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IISC AND THE FOUNDATION SHALL AMICABLY RESOLVE ALL CONFLICTS BETWEEN THEM AND OPERATE PROACTIVELY TO IDENTIFY AND APPROPRIATELY MANAGE POTENTIAL CONFLICTS OF INTEREST INVOLVING IISC DIRECTORS, OFFICERS AND EMPLOYEES, FOUNDATION BOARD MEMBERS, OFFICERS, AND STAFF. THE CONFLICT OF INTEREST PROVISIONS OF BOTH THE IISC POLICIES AND THE FOUNDATION'S POLICIES ARE EXPRESSIVELY APPLICABLE TO ALL INTERACTIONS BETWEEN IISC AND THE FOUNDATION. IN CASES WHERE THE CONFLICT OF INTEREST POLICIES OF IISC AND THE FOUNDATION CONFLICT, THE MORE RESTRICTIVE POLICY WILL CONTROL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECTORS, OFFICERS, AND MEMBERS OF COMMITTEES MAY BE REIMBURSED FOR ANY EXPENSES THAT ARE DETERMINED BY RESOLUTION OF THE BOARD TO BE JUST AND REASONABLE. OFFICERS MAY BE PAID COMPENSATION IN A REASONABLE AMOUNT FOR SERVICES PROVIDED TO THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ORGANIZATIONAL DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
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 B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0GEORGE BRODY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-07
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DIVYASHREE K SHETTY
ReturnHeader/ReturnTs02024-11-07T16:37:23-06:00
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
$308,708
Liabilities
$18,523
Net assets
$290,185
Revenue
$1,788,167
Expenses
$1,764,290
Net income
$23,877
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.69$0.34$0.36$1.89$1.82$0.07
2023Detailed filing. Detailed filing data is available for this year.$0.31$0.02$0.29$1.79$1.76$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.27$0.01$0.27