Civic Intelligence

Somaiya Foundation

990EZ • Fiscal year 2023 • EIN 88-2702674

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

CO Sciarabba Walker 410 E Upland RdIthaca, NY 14850

(607) 272-5550

Siviq Scores

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

Liabilities / Assets

99th percentile

1.49x

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

2023 filings • NTEE B12 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

0.76x

Higher debt load relative to revenue than 94% of similar nonprofits.

2023 filings • NTEE B12 • <$500k nonprofits • Source year 2023

Net Margin

15th percentile

-27%

Higher net margin than 15% of similar nonprofits.

2023 filings • NTEE B12 • <$500k nonprofits • Source year 2023

Top Officer Pay

94th percentile

$0

Higher top officer pay than 94% of similar nonprofits.

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

2023 filings • NTEE B12 • <$500k nonprofits • Source year 2023

Asset Growth

87th percentile

67%

Faster asset growth than 87% of similar nonprofits.

2023 filings • NTEE B12 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

42nd percentile

-6.3%

Faster revenue growth than 42% of similar nonprofits.

2023 filings • NTEE B12 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$7,613

Up $3,044 (+67%) from 2022

Net Assets

Down

-$3,749

Down $4,054 (-1329%) from 2022

Liabilities

Up

$11,362

Up $7,098 (+166%) from 2022

Revenue

Down

$15,000

Down $1,000 (-6.3%) from 2022

Expenses

Up

$19,054

Up $3,359 (+21%) from 2022

Net Income

Down

-$4,054

Down $4,359 (-1429%) from 2022

Historical Trend

Balance Sheet Trend

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

$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

2023

Assets$7,613
Liabilities$11,362
Net Assets-$3,749

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2023

Revenue$15,000
Expenses$19,054
Net Income-$4,054
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$15,000
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 OPPORTUNITIES FOR NORTH-AMERICA-BASED STUDENTS, ALUMNI, STAFF AND FACULTY FOR SOMAIYA VIDYAVIHAR, SOMAIYA VIDYAVIHAR UNIVERSITY, KJ SOMAIYA MEDICAL TRUST AND GIRIVANVASI EDUCATIONAL TRUST.$10,000$12,337
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$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
2024-11-15
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: 10,000.

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

Description: bank fees. Amount: 40. Description: insurance. Amount: 721. Description: other expenses. Amount: 733. Description: other donations. Amount: 2,337. Total to form 990-ez, line 16: 3,831.

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

Description: accounts payable. Beg. Of year amount: 4,264. End of year amount: 3,918. Description: due to somaiya university. Beg. Of year amount: 0. End of year amount: 7,444.

Raw XML Appendix139 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: 10,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DESCRIPTION: BANK FEES. AMOUNT: 40. DESCRIPTION: INSURANCE. AMOUNT: 721. DESCRIPTION: OTHER EXPENSES. AMOUNT: 733. DESCRIPTION: OTHER DONATIONS. AMOUNT: 2,337. TOTAL TO FORM 990-EZ, LINE 16: 3,831.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIPTION: ACCOUNTS PAYABLE. BEG. OF YEAR AMOUNT: 4,264. END OF YEAR AMOUNT: 3,918. DESCRIPTION: DUE TO SOMAIYA UNIVERSITY. BEG. OF YEAR AMOUNT: 0. END OF YEAR AMOUNT: 7,444.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES
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/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0DR LARRY P WALKER
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
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ReturnHeader/ReturnTs02024-11-15T08:02:25-06:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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