Sitare Foundation
Nonprofit profile at a glance
- EIN
- 825003065
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024, Form 990-T 2024, Form 990-N 2019
- Location
- Palo Alto, CA, USA
- Phone
- 6503055721
- Rating
- 64
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Fund Raising and Fund Distribution
Reported finances
- Revenue
- $5,147,048
- Expenses
- $3,248,721
- Assets
- $39,042,033
- Liabilities
- $927,825
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- SHILPA SINGHAL (PRESIDENT)
People named in this filing
- SHILPA SINGHAL (PRESIDENT)
- PANDURANG NAYAK (CFO)
- AMITABH K SINGHAL (SECRETARY)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Sitare foundation is an organization that will provide education to underprivileged children. A mind is a terrible thing to waste. Sitare foundation believes that by giving the brightest children the best possible education, they will grow up to become some of the best professionals this world has witnessed. Sitare foundation is aimed to cultivate a culture or giving and creating bright minds to be net contributors to the society. If each kid that gets benefit in return provides mentorship and guidance to ten or more underprivileged children, the sitare movement will be huge. Sitare foundation has been formed to raise money throughout California and eventually nationwide.
What it reported doing in 2024
The foundation supports charitable projects for the hope and dreams trust through a fiscal sponsorship agreement to provide high-quality education to underprivileged children in india who show high academic potential
Operating model
- Revenue model
- Donor-supported. 96% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.
Rating breakdown
- Financial Efficiency: 64
- Transparency & Controls: 49
- Accountability: 82
- Sustainability: 88
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 59.6%; rating input score 60
- Program expense ratio: 90.6%; rating input score 91
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 86.7%; rating input score 87; 2nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: 0 of 8 controls in place; rating input score 0
- Claims monitoring procedures: Fail
- Requires narrative reports: Fail
- Conducts field audits: Fail
- May suspend future funding: Fail
- Requires financial reports: Fail
- Conducts site visits: Fail
- Requires grant agreements: Fail
- May require repayment: Fail
- Grant itemization coverage: 0%; rating input score 0; 6th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 36.9%; rating input score 88; 88th percentile among comparable filings
- Total-asset coverage ratio: 12.02; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 79; 79th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: 36.1% per year; rating input score 100; 94th percentile among comparable filings
- Revenue growth: -41.6% per year; rating input score 0; 0th percentile among comparable filings
- Asset growth: 19.2% per year; rating input score 100; 83rd percentile among comparable filings
Details
- Where the money goes: 59.6% of revenue deployed · 90.6% of spending went to programs
- Governance: 3 of 3 board members independent · 4 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $2.9M in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 24 of 26 current checks pass · 2 findings to review
- Schedules: 5 filed schedules · includes major donors and foreign activity
- Filing history: 4 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.