Somaiya Foundation

Nonprofit profile at a glance

EIN
882702674
IRS 990-EZ coverage
2022–2025
Forms available
Form 990-EZ 2025
Location
Ithaca, NY, USA
Phone
6072725550
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$27,400
Expenses
$40,082
Assets
$4,230
Liabilities
$24,422

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • SHAHEEN MASHRAQUI (PRESIDENT)

People named in this filing

  • DR LARRY P WALKER (DIRECTOR)
  • SHAHEEN MASHRAQUI (PRESIDENT)
  • BIMAL THAKKAR (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

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.

What it reported doing in 2025

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

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 100
  • Sustainability: 17
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 68.4%; rating input score 68

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -46.3%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.11; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 5.77; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 60.2% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 21.2% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 37th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 68.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $27K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2022 to 2025
  • Contacts: How to reach this organization
  • 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 — Sustainability: Operating margin scored 13/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.