Civic Intelligence

Rita and Sunil Bhatia Foundation

990PF • Fiscal year 2022 • EIN 88-2201441

May 04, 2022 to Dec 31, 2022 • Filed on Aug 15, 2023

Organization Profile
Foundation Source 501 Silverside RdWilmington, DE 19809-1377

(800) 839-1754

Siviq Scores

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

Liabilities / Assets

24th percentile

0.00x

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

2022 filings • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

21st percentile

0.00x

Higher debt load relative to revenue than 21% of similar nonprofits.

2022 filings • $5M-$10M nonprofits • Source year 2022

Net Margin

97th percentile

99%

Higher net margin than 97% of similar nonprofits.

2022 filings • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

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

2022 filings • $5M-$10M nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Balance Sheet
Liabilities / Assets24th percentile

Assets

$4,969,451

No earlier filing loaded for comparison.

Net Assets

$4,969,451

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin97th percentile

Revenue

$5,020,480

No earlier filing loaded for comparison.

Expenses

$51,029

No earlier filing loaded for comparison.

Net Income

$4,969,451

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0Assets 2022: $4,969,451Liabilities 2022: $0Net Assets 2022: $4,969,4512022Assets 2023: $5,096,602Liabilities 2023: $1Net Assets 2023: $5,096,6022023Assets 2024: $5,078,996Liabilities 2024: $0Net Assets 2024: $5,078,9962024

Highlighted filing

2022

Assets$4,969,451
Liabilities$0
Net Assets$4,969,451
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2022: $5,020,480Expenses 2022: $51,029Net Income 2022: $4,969,4512022Revenue 2023: $223,149Expenses 2023: $95,998Net Income 2023: $127,1512023Revenue 2024: $138,460Expenses 2024: $156,066Net Income 2024: -$17,6062024

Highlighted filing

2022

Revenue$5,020,480
Expenses$51,029
Net Income$4,969,451
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
May 4, 2022 to Dec 31, 2022
Signed
Aug 15, 2023
Return Version
2022v5.0
Compensation and Service Providers
Top Officer Pay32nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rita BhatiaDir, Sec, Treas-$0--
Sunil BhatiaDir, Pres-$0--
Grants and Assistance

Foundation Grants and Related Investments

TypeRecipientPurposeStatusLocationAmount
Paid GrantTHE COMMUNITY FOUNDATION OF SINGAPOREGeneral & UnrestrictedOtherSINGAPORE, SN$38,253
Filing and Contact Details

Filer

Filer Name
Rita and Sunil Bhatia Foundation
EIN
88-2201441
In Care Of
% Foundation Source
Phone
8008391754
Address
Foundation Source 501 Silverside Rd, Wilmington, DE 19809-1377

Signing Officer

Name
Sunil Bhatia
Title
Secretary
Phone
8008391754
Signed
2023-08-15
Discuss with paid preparer
Yes

Preparer

Firm
Foundation Source
Address
3333 New Hyde Park Rd Ste 406, New Hyde Park, NY 11042
Preparer
Jeffrey D Haskell
Phone
8008391754
Raw XML Appendix238 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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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/PersonNm1Sunil Bhatia
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/TitleTxt0Dir, Sec, Treas
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IRS990PF/StatementsRegardingActyGrp/MoreThan100SpentInd0false
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IRS990PF/SupplementaryInformationGrp/ContributingManagerNm0Rita Bhatia
IRS990PF/SupplementaryInformationGrp/ContributingManagerNm1Sunil Bhatia
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/Amt038253
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt0General & Unrestricted
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt0THE COMMUNITY FOUNDATION OF SINGAPORE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientForeignAddress/AddressLine1Txt06 EU TONG SEN ST 04-88 THE CENTRAL
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IRS990PF/UndistributedIncomeGrp/PriorYear3Yr02018
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IRS990PF/UndistributedIncomeGrp/RemainingDistriFromCorpusAmt041002
IRS990PF/UndistributedIncomeGrp/TotalCorpusAmt041002
IRS990PF/UndistributedIncomeGrp/UndistributedIncomeCYAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorNum01
IRS990ScheduleB/ContributorInformationGrp/ContributorPersonNm0Bhatia Sunil
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt020673 Rice Court
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm0Saratoga
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IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd0X
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt05010000
IRS990ScheduleB/GeneralRuleInd0X
IRS990ScheduleB/Organization501c3ExemptPFInd0X
LiquidationExplanationStmt/ExplanationTxt0As explained below, the Foundation has no plans for dissolution. This statement is submitted to report the distribution of certain assets during the year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3(a)(1) and the Form 990-PF instructions: Typically, a finding of a substantial contraction of assets is made by reference to the fair market value of a foundation's net assets on the first day of its calendar year. However, the taxable year ending December 31, 2022 was the year in which the Foundation received its initial endowment and the finding of a substantial contraction in this case was made by reference to the fair market value of the Foundation's assets on the date that it received its initial endowment. Accordingly, the degree of contraction of the Foundation's net assets may have been exaggerated. During the taxable year ending December 31, 2022, the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled $38,253. This amount represents 25% or more of the Foundation's net assets of $10,000 (as measured by fair market value) on the day that the Foundation received its initial endowment in the Foundation's taxable year ending December 31, 2022. Although the Foundation technically experienced a substantial contraction, it will continue in existence and has no plans for dissolution. The Foundation made distributions of cash to the grantees listed in the attachment to Part XIV, Line 3a; each such grant was made solely for the charitable purpose specified therein.
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc0Administrative Fees
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc1Administrative Set-Up Fee
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc2Delaware Incorporation Fees
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc3IRS Application Fees
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt06026
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt15400
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt2500
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt3600
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt06026
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt15400
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt2500
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt3600
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/Amt0250
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/CategoryTxt0PHILANTHROPIC CONSULTING SRVCS
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/DisbursementsCharitablePrpsAmt0250
SubstantialContributorsSch/SubstantialContributorDetail/PersonNm0Bhatia Sunil
SubstantialContributorsSch/SubstantialContributorDetail/PersonNm1Bhatia Rita
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/AddressLine1Txt020673 Rice Court
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/AddressLine1Txt120673 Rice Court
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/CityNm0Saratoga
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/CityNm1Saratoga
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/StateAbbreviationCd0CA
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Sunil Bhatia
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Secretary
ReturnHeader/BusinessOfficerGrp/PhoneNum08008391754
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Rita and Sunil Bhatia Foundation
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0882201441
ReturnHeader/Filer/InCareOfNm0% Foundation Source
ReturnHeader/Filer/PhoneNum08008391754
ReturnHeader/Filer/USAddress/AddressLine1Txt0Foundation Source 501 Silverside Rd
ReturnHeader/Filer/USAddress/CityNm0Wilmington
ReturnHeader/Filer/USAddress/StateAbbreviationCd0DE
ReturnHeader/Filer/USAddress/ZIPCd0198091377
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Foundation Source
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03333 New Hyde Park Rd Ste 406
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0New Hyde Park
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011042
ReturnHeader/PreparerPersonGrp/PhoneNum08008391754
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jeffrey D Haskell
ReturnHeader/ReturnTs02023-08-29T13:25:30-05:00
ReturnHeader/ReturnTypeCd0990PF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Sunil
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Bhatia
ReturnHeader/TaxPeriodBeginDt02022-05-04
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,969,451
Liabilities
$0
Net assets
$4,969,451
Revenue
$5,020,480
Expenses
$51,029
Net income
$4,969,451
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.08$0.00$5.08$0.14$0.16$0.02
2023Detailed filing. Detailed filing data is available for this year.$5.10$0.00$5.10$0.22$0.10$0.13
2022Detailed filing. Detailed filing data is available for this year.$4.97$0.00$4.97$5.02$0.05$4.97