Nonprofit · EIN 45-4442459
PEARL INITIATIVE INC
Tax-exempt · SCARSDALE, NY 10583
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $765,368 | $916,069 | -$150,701 | $2,067,155 | $602,550 | $1,464,605 |
| December 31, 2023 | 990 | $936,869 | $1,139,629 | -$202,760 | $1,921,690 | $306,384 | $1,615,306 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $248,703
- Program service revenue
- $425,000
- Investment income
- $91,665
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $114,364
- Other salaries and wages
- $608,955
- Salaries, compensation and benefits (total)
- $723,319
- Professional fundraising fees
- $0
- Travel
- $757
Balance sheet and other
- Total assets, start of year
- $1,921,690
- Total assets, end of year
- $2,067,155
- Total liabilities, end of year
- $602,550
- Net assets, end of year
- $1,464,605
- Land, buildings and equipment
- $4,270
- Net assets without donor restrictions
- $195,559
- Net assets with donor restrictions
- $1,269,046
- Gross receipts
- $765,368
- Employees
- 7
- Year formed
- 2010
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Pankaj Khatri | Head of Busines Officer | 40 | $114,364 | $4,016 |
| Abdullah Sweileh | Director Trustee or director | 0.5 | $0 | $0 |
| MATHAD ALAJMI | Director Trustee or director | 0.5 | $0 | $0 |
| SHEIKHA INTISAR AL SABAH | Director Trustee or director | 0.5 | $0 | $0 |
| PERVEZ AKHTAR | Director Trustee or director | 0.5 | $0 | $0 |
| AMIR DOSSAL | Executive Comm. Trustee or director | 5 | $0 | $0 |
| HANI ASHKAR | Director Trustee or director | 0.5 | $0 | $0 |
| BADR JAFAR | Executive Comm. Trustee or director | 5 | $0 | $0 |
| Samer Said Khoury | Director Trustee or director | 0.5 | $0 | $0 |
| Hamid Jafar | Director Trustee or director | 0.5 | $0 | $0 |
| PATRICK CHALHOUB | Director Trustee or director | 0.5 | $0 | $0 |
| Jamal Fakhro | Chairman Trustee or director, Officer | 0.5 | $0 | $0 |
| CAMPBELL M STEEDMAN | Director Trustee or director | 0.5 | $0 | $0 |
| AYMAN TAMER | Director Trustee or director | 0.5 | $0 | $0 |
| VAROUJ NERGUIZIAN | Director Trustee or director | 0.5 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Sheikha Hanadi Bint Nasser Bin | Director Trustee or director | 0.5 | $0 |
| AHMED AL JANAHI | Director Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Pankaj Khatri | Head of Busines Officer | 40 | $114,364 | $4,016 |
| Abdullah Sweileh | Director Trustee or director | 0.5 | $0 | $0 |
| MATHAD ALAJMI | Director Trustee or director | 0.5 | $0 | $0 |
| SHEIKHA INTISAR AL SABAH | Director Trustee or director | 0.5 | $0 | $0 |
| PERVEZ AKHTAR | Director Trustee or director | 0.5 | $0 | $0 |
| AMIR DOSSAL | Executive Comm. Trustee or director | 5 | $0 | $0 |
| HANI ASHKAR | Director Trustee or director | 0.5 | $0 | $0 |
| BADR JAFAR | Executive Comm. Trustee or director | 5 | $0 | $0 |
| Samer Said Khoury | Director Trustee or director | 0.5 | $0 | $0 |
| Hamid Jafar | Director Trustee or director | 0.5 | $0 | $0 |
| PATRICK CHALHOUB | Director Trustee or director | 0.5 | $0 | $0 |
| Jamal Fakhro | Chairman Trustee or director, Officer | 0.5 | $0 | $0 |
| CAMPBELL M STEEDMAN | Director Trustee or director | 0.5 | $0 | $0 |
| AYMAN TAMER | Director Trustee or director | 0.5 | $0 | $0 |
| VAROUJ NERGUIZIAN | Director Trustee or director | 0.5 | $0 | $0 |
| Sheikha Hanadi Bint Nasser Bin | Director Trustee or director | 0.5 | $0 | $0 |
| AHMED AL JANAHI | Director Trustee or director | 0.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 26 OLD LYME RD, SCARSDALE, NY 10583-7636
- Principal officer (990 for 2024)
- Pankaj Khatri, 26 OLD LYME ROAD, SCARSDALE, NY 105837636
- Signed the 990
- Pankaj Khatri, Head of Busines
- Website
- www.pearlinitiative.org
- Return prepared by
- Gary S Eisenkraft CPA
Mission
Pearl Initiative is an association of persons having a common business interest in trade between the United States and the Arabian Gulf region and within the region. Pearl Initiatives purpose is to promote the common economic interests of all commercial enterprises with the U.S.-Arabian Gulf region trade community by dedicating itself to improving transparency, accountability and business practices with the community. The plan for Pearl Initiative has been developed in cooperationwith the United Nations Office for Partnerships and is recognized as a center of excellence at the American University of Sharjah. Pearl Initiative aims to improve business conditions for U.S. businesses interested or engaged in the region and regional businesses by creating a culture of greater transparency and accountability within the Arabian Gulf region, thereby fostering competitive economic growth and sustainable social development.
Program accomplishments
- The Pearl Initiative (PI) is the Gulf Regions leading independent, private sector-led non-profit organisation working to improve corporate accountability and transparency across a number of themes, including Anti-Corruption Best Practices, Diversity in Business Leadership, Governance in MSMEs, Governance in Family Firms, Governance in Tech and Governance in Philanthropy. PI was established in 2010 by regional business leaders and the UN Office for Partnerships. PI is the first private non-profit organisation in the Gulf Region to receive special consultative status from the United Nations Economic and Social Council. In 2021, PI launched its updated strategy with bold ambitions for expansion over the next few years resulting in PI Vision 2025. PI runs programmes focusing on governance-related matters, conducts regionally-based research, convenes business leaders, government and civil society leaders and students to discuss challenges and opportunities in implementing best practices in the workforce. PI also runs workshops and training to support business professionals as they take the lead in implementing corporate governance, accountability and transparency practices in their organisations.With various regional and international partners, PI brings together business, policy and social sector decision-makers to share best practices and help maximise sustainable and inclusive growth across the Gulf Region. PI also supports Gulf-based university students to identify and embrace strong ethics and integrity as they embark on their future careers.For more information, please visit www.pearlinitiative.org and follow / subscribe to PIs Facebook, Twitter, LinkedIn, and YouTube channels by using the following handle @PearlInitiative.Expenses $740,563 · revenue $425,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 45-4442459
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 2013
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S41)
- Assets (IRS master file)
- $2,067,155
- Income (IRS master file)
- $765,368
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $765,368 | $916,069 | $2,067,155 | XML |
| 990 | December 2023 | $936,869 | $1,139,629 | $1,921,690 | XML |
| 990 | December 2022 | $923,271 | $1,170,355 | $2,058,110 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 45-4442459).
Questions about PEARL INITIATIVE INC
- What is the EIN of PEARL INITIATIVE INC?
- The employer identification number (EIN) of PEARL INITIATIVE INC is 45-4442459.
- Is PEARL INITIATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 2013.
- Are donations to PEARL INITIATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does PEARL INITIATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PEARL INITIATIVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PEARL INITIATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PEARL INITIATIVE INC?
- The 990 for the year ended December 31, 2024 names Pankaj Khatri.
- Who are the officers and directors of PEARL INITIATIVE INC?
- The 990 for the year ended December 31, 2024 lists 17 people; 1 received compensation from the organization, the highest $114,364 (Pankaj Khatri, Head of Busines).
- How much revenue does PEARL INITIATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $765,368, expenses of $916,069 and total assets of $2,067,155 at year end.
Other nonprofits in SCARSDALE
- THE ACCELERATION PROJECT INC EIN 46-0762002 · last filed 990 for 2025
- INDEPENDENT BROKER ALLIANCE EIN 27-3146243 · last filed 990 for 2025
- NYPEN INC EIN 05-0549302 · last filed 990 for 2024
- SCARSDALE WOMANS EXCHANGE INC EIN 13-1740037 · last filed 990 for 2026
- JUNIOR LEAGUE OF CENTRAL WESTCHESTER INC EIN 13-1768779 · last filed 990 for 2025
- SCARSDALE BUSINESS ALLIANCE INC EIN 83-0687650 · last filed 990 for 2025
- ICON FOUNDATION INC EIN 92-2052405 · last filed 990-EZ for 2025
- LEROY GREGORY SOLDIERS AND SAILORS MEMORIAL COMMITTEE INC EIN 13-4253130 · last filed 990-EZ for 2024
All nonprofits in SCARSDALE · New York · Community improvement and capacity building