Civic Intelligence

Somaiya Foundation

EIN 88-2702674 • 501(c)3 • Ithaca, NY

Pub. 78 EligibleNTEE B12

Profile

The purposes of the nonprofit shall be to (a) provide networking opportunities for north-america-based students, alumni, staff and faculty of the below described "sister organizations; (b) establish, encourage and grow relationships between north american-based academic institutions and charities for the sister organizations for the mutual benefit of students, alumni, faculty and staff of all; (c) develop and maintain a charitable giving regime in connection with north american-based students, alumni, staff and faculty of the sister organizations; and (d) provide grant funding in support of charitable and educational activities and programs of the sister organizations. The "sister organizations" are somaiya vidyavihar, somaiya vidyavihar university, kj somaiya medical trust and girivanvasi educational trust and other educational and charitable organizations working in the areas of development, education and healthcare in furtherance of the vision of the late shri k. J. Somaiya.

CO Sciarabba Walker 410 E Upland RdIthaca, NY 14850

n/A

Siviq Scores

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

Liabilities / Assets

99th percentile

1.88x

Higher debt load relative to assets than 99% of similar nonprofits.

NTEE B12 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

0.64x

Higher debt load relative to revenue than 96% of similar nonprofits.

NTEE B12 • <$500k nonprofits • Source year 2024

Net Margin

19th percentile

-15%

Higher net margin than 19% of similar nonprofits.

NTEE B12 • <$500k nonprofits • Source year 2024

Top Officer Pay

95th percentile

$0

Higher top officer pay than 95% of similar nonprofits.

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

NTEE B12 • <$500k nonprofits • Source year 2024

Asset Growth

60th percentile

12%

Faster asset growth than 60% of similar nonprofits.

NTEE B12 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

82nd percentile

67%

Faster revenue growth than 82% of similar nonprofits.

NTEE B12 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Up

$8,539

Up $926 (+12%) from 2023

Liabilities

Up

$16,049

Up $4,687 (+41%) from 2023

Net Assets

Down

-$7,510

Down $3,761 (-100%) from 2023

Revenue

Up

$25,000

Up $10,000 (+67%) from 2023

Expenses

Up

$28,761

Up $9,707 (+51%) from 2023

Net Income

Up

-$3,761

Up $293 (+7.2%) from 2023

Trend Graphs

Balance Sheet Trend

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

$20K$10K$0-$10KAssets 2022: $4,569Liabilities 2022: $4,264Net Assets 2022: $3052022Assets 2023: $7,613Liabilities 2023: $11,362Net Assets 2023: -$3,7492023Assets 2024: $8,539Liabilities 2024: $16,049Net Assets 2024: -$7,5102024

Highlighted filing

2024

Assets$8,539
Liabilities$16,049
Net Assets-$7,510

Operations Trend

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

$30K$20K$10K$0-$10KRevenue 2022: $16,000Expenses 2022: $15,695Net Income 2022: $3052022Revenue 2023: $15,000Expenses 2023: $19,054Net Income 2023: -$4,0542023Revenue 2024: $25,000Expenses 2024: $28,761Net Income 2024: -$3,7612024

Highlighted filing

2024

Revenue$25,000
Expenses$28,761
Net Income-$3,761

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 8, 2025
Return Version
2024v5.1
Gross Receipts
$25,000
Mission and Program Overview

Mission

The purposes of the nonprofit shall be to (a) provide networking opportunities for north-america-based students, alumni, staff and faculty of the below described "sister organizations; (b) establish, encourage and grow relationships between north american-based academic institutions and charities for the sister organizations for the mutual benefit of students, alumni, faculty and staff of all; (c) develop and maintain a charitable giving regime in connection with north american-based students, alumni, staff and faculty of the sister organizations; and (d) provide grant funding in support of charitable and educational activities and programs of the sister organizations. The "sister organizations" are somaiya vidyavihar, somaiya vidyavihar university, kj somaiya medical trust and girivanvasi educational trust and other educational and charitable organizations working in the areas of development, education and healthcare in furtherance of the vision of the late shri k. J. Somaiya.

Program Services

DescriptionGrantsExpenses
PROVIDE GRANT FUNDING IN SUPPORT OF CHARITABLE AND EDUCATIONAL ACTIVITIES AND PROGRAMS OF SOMAIYA VIDYAVIHAR, SOMAIYA VIDYAVIHAR UNIVERSITY, KJ SOMAIYA MEDICAL TRUST AND GIRIVANVASI EDUCATIONAL TRUST$20,000$20,000
PROVIDE OPPORTUNITIES FOR NORTH-AMERICA-BASED STUDENTS, ALUMNI, STAFF AND FACULTY FOR SOMAIYA VIDYAVIHAR, SOMAIYA VIDYAVIHAR UNIVERSITY, KJ SOMAIYA MEDICAL TRUST AND GIRIVANVASI EDUCATIONAL TRUST.$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
BIMAL THAKKARDirector-$0--
GAYATRI SOMAIYADirector-$0--
DR LARRY P WALKERPresident-$0--
Filing and Contact Details

Filer

Filer Name
Somaiya Foundation
EIN
88-2702674
Phone
6072725550
Address
CO SCIARABBA WALKER 410 E UPLAND RD, ITHACA, NY 14850

Signing Officer

Name
Dr Larry P Walker
Title
President
Phone
6072725550
Signed
2025-05-08
Discuss with paid preparer
Yes

Preparer

Firm
Sciarabba Walker & Co Llp
Address
410 EAST UPLAND ROAD, ITHACA, NY 14850
Preparer
Christopher Hart
Phone
6072725550
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 10 - Grants and Similar Amounts Paid

Activity classification: grant. Grantee name: somaiya vidyavihar university. Grantee address: vidyanagar, vidya vihar east vidyavihar, mumbai, maharashtra, india 400077. Grantee relationship: grant recipient. Amount given: 20,000.

Form 990-ez, Part I, Line 16 - Other Expenses

Description: bank fees. Amount: 205. Description: insurance. Amount: 556. Description: other expenses. Amount: 938. Description: taxes. Amount: 325. Total to form 990-ez, line 16: 2,024.

Form 990-ez, Part II, Line 24 - Other Assets

Description: nextspeed technologies, inc. Beg. Of year amount: 0. End of year amount: 0. Description: investment holdings - nextspeed. Beg. Of year amount: 0. End of year amount: 2,300.

Form 990-ez, Part II, Line 26 - Other Liabilities

Description: accounts payable. Beg. Of year amount: 3,918. End of year amount: 307. Description: due to related party. Beg. Of year amount: 0. End of year amount: 556. Description: due to somaiya university. Beg. Of year amount: 7,444. End of year amount: 469. Description: contributed capital stock. Beg. Of year amount: 0. End of year amount: 14,717.

Raw XML Appendix143 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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IRS990EZ/PrimaryExemptPurposeTxt0THE PURPOSES OF THE NONPROFIT SHALL BE TO (A) PROVIDE NETWORKING OPPORTUNITIES FOR NORTH-AMERICA-BASED STUDENTS, ALUMNI, STAFF AND FACULTY OF THE BELOW DESCRIBED "SISTER ORGANIZATIONS; (B) ESTABLISH, ENCOURAGE AND GROW RELATIONSHIPS BETWEEN NORTH AMERICAN-BASED ACADEMIC INSTITUTIONS AND CHARITIES FOR THE SISTER ORGANIZATIONS FOR THE MUTUAL BENEFIT OF STUDENTS, ALUMNI, FACULTY AND STAFF OF ALL; (C) DEVELOP AND MAINTAIN A CHARITABLE GIVING REGIME IN CONNECTION WITH NORTH AMERICAN-BASED STUDENTS, ALUMNI, STAFF AND FACULTY OF THE SISTER ORGANIZATIONS; AND (D) PROVIDE GRANT FUNDING IN SUPPORT OF CHARITABLE AND EDUCATIONAL ACTIVITIES AND PROGRAMS OF THE SISTER ORGANIZATIONS. THE "SISTER ORGANIZATIONS" ARE SOMAIYA VIDYAVIHAR, SOMAIYA VIDYAVIHAR UNIVERSITY, KJ SOMAIYA MEDICAL TRUST AND GIRIVANVASI EDUCATIONAL TRUST AND OTHER EDUCATIONAL AND CHARITABLE ORGANIZATIONS WORKING IN THE AREAS OF DEVELOPMENT, EDUCATION AND HEALTHCARE IN FURTHERANCE OF THE VISION OF THE LATE SHRI K. J. SOMAIYA.
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IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1PROVIDE GRANT FUNDING IN SUPPORT OF CHARITABLE AND EDUCATIONAL ACTIVITIES AND PROGRAMS OF SOMAIYA VIDYAVIHAR, SOMAIYA VIDYAVIHAR UNIVERSITY, KJ SOMAIYA MEDICAL TRUST AND GIRIVANVASI EDUCATIONAL TRUST
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ACTIVITY CLASSIFICATION: GRANT. GRANTEE NAME: SOMAIYA VIDYAVIHAR UNIVERSITY. GRANTEE ADDRESS: VIDYANAGAR, VIDYA VIHAR EAST VIDYAVIHAR, MUMBAI, MAHARASHTRA, INDIA 400077. GRANTEE RELATIONSHIP: GRANT RECIPIENT. AMOUNT GIVEN: 20,000.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIPTION: NEXTSPEED TECHNOLOGIES, INC. BEG. OF YEAR AMOUNT: 0. END OF YEAR AMOUNT: 0. DESCRIPTION: INVESTMENT HOLDINGS - NEXTSPEED. BEG. OF YEAR AMOUNT: 0. END OF YEAR AMOUNT: 2,300.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DESCRIPTION: ACCOUNTS PAYABLE. BEG. OF YEAR AMOUNT: 3,918. END OF YEAR AMOUNT: 307. DESCRIPTION: DUE TO RELATED PARTY. BEG. OF YEAR AMOUNT: 0. END OF YEAR AMOUNT: 556. DESCRIPTION: DUE TO SOMAIYA UNIVERSITY. BEG. OF YEAR AMOUNT: 7,444. END OF YEAR AMOUNT: 469. DESCRIPTION: CONTRIBUTED CAPITAL STOCK. BEG. OF YEAR AMOUNT: 0. END OF YEAR AMOUNT: 14,717.
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TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. NTEE B12 • <$500k nonprofits