Nonprofit · EIN 88-2405799
UNIVERSAL GIFTED SAVINGS INC
Tax-exempt · RLLNG HLS EST, CA 90274
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,678,770 | $1,140,507 | $538,263 | $717,484 | $143,457 | $574,027 |
| December 31, 2023 | 990 | $855,000 | $845,582 | $9,418 | $142,904 | $118,067 | $24,837 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,678,479
- Program service revenue
- $0
- Investment income
- $291
- Net gain from sales of assets
- $38
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $5,012
- Compensation of officers, directors and key employees
- $125,249
- Other salaries and wages
- $461,856
- Salaries, compensation and benefits (total)
- $676,507
- Professional fundraising fees
- $10,000
- Legal fees
- $49,533
- Accounting fees
- $23,606
- Travel
- $19,521
- Depreciation
- $24,953
- Program services (functional)
- $930,591
- Management and general (functional)
- $142,740
- Fundraising (functional)
- $67,176
Balance sheet and other
- Total assets, start of year
- $142,904
- Total assets, end of year
- $717,484
- Total liabilities, end of year
- $143,457
- Net assets, end of year
- $574,027
- Land, buildings and equipment
- $1,596
- Publicly traded securities
- $77,482
- Net assets without donor restrictions
- $431,434
- Net assets with donor restrictions
- $142,593
- Gross receipts
- $1,680,602
- Employees
- 5
- Volunteers
- 1
- Year formed
- 2022
- State of legal domicile
- DE
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 |
|---|---|---|---|---|
| RAYMOND MARCEAU | SENIOR DEVELOPER Highest-paid employee | 40 | $193,511 | $16,997 |
| PHILIP PHAM | HEAD OF DESIGN Highest-paid employee | 40 | $185,000 | $17,733 |
| ALLY MEXICOTTE | HEAD OF PRODUCT Highest-paid employee | 40 | $155,000 | $13,207 |
| STEVEN BOWER | CHIEF TECHNOLOGY OFFICER Highest-paid employee | 40 | $147,799 | $18,798 |
| JOSH LANDAY | EXECUTIVE DIRECTOR Officer | 40 | $124,091 | $1,158 |
| FARHAD MOHIT | PRESIDENT/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| STEVEN BOWER | ENGINEERING Highest-paid employee | 40 | $150,000 | $14,193 |
| RAYMOND MARCEAU | ENGINEERING Highest-paid employee | 40 | $146,250 | $12,442 |
| FARHAD MOHIT | PRESIDENT/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 916 SILVER SPUR RD STE 310, RLLNG HLS EST, CA 90274-3828
- Principal officer (990 for 2024)
- FARHAD MOHIT, 916 SILVER SPUR ROAD 310, ROLLING HILLS ESTATES, CA 90274
- Signed the 990
- JOSH LANDAY, EXECUTIVE DIRECTOR
- Phone
- (347) 719-3389
- Website
- GIFTEDSAVINGS.ORG
- Return prepared by
- APERCEN PARTNERS LLC
California records
California keeps its own records of charities and corporations. Search them by EIN 88-2405799 or by the name UNIVERSAL GIFTED SAVINGS INC.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
WE MAKE THE DIRECT GIFTING OF INVESTMENT ASSETS SIMPLE AND REWARDING, EMPOWERING PEOPLE TO CREATE THEIR OWN OPPORTUNITIES.
Program accomplishments
- THE ORGANIZATION ENGAGES IN CHARITABLE AND EDUCATIONAL ACTIVITIES TO ALLEVIATE PROVERTY AND SUPPORT FINANCIAL STABILITY THROUGH THE USE OF THE TRANSFORMATIONAL IMPACT OF UNRESTRICTED CASH PAYMENTS TO INDIVIDUALS WITH FINANCIAL NEED. ACTIVITIES DURING 2024 INCLUDED CASH DISBURSMENTS TO 26 INDIVIDUALS UNDER THE GIFTED SAVINGS HIGH SCHOOL AND ADULT PROGRAMS.Expenses $930,591 · grants $5,012
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
- 88-2405799
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T99)
- Assets (IRS master file)
- $717,484
- Income (IRS master file)
- $1,680,602
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,678,770 | $1,140,507 | $717,484 | IRS |
| 990 | December 2023 | $855,000 | $845,582 | $142,904 | XML |
| 990-EZ | December 2022 | – | – | – | 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 88-2405799).
Questions about UNIVERSAL GIFTED SAVINGS INC
- What is the EIN of UNIVERSAL GIFTED SAVINGS INC?
- The employer identification number (EIN) of UNIVERSAL GIFTED SAVINGS INC is 88-2405799.
- Is UNIVERSAL GIFTED SAVINGS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to UNIVERSAL GIFTED SAVINGS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does UNIVERSAL GIFTED SAVINGS 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 UNIVERSAL GIFTED SAVINGS 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 UNIVERSAL GIFTED SAVINGS 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 UNIVERSAL GIFTED SAVINGS INC?
- The 990 for the year ended December 31, 2024 names FARHAD MOHIT.
- Who are the officers and directors of UNIVERSAL GIFTED SAVINGS INC?
- The 990 for the year ended December 31, 2024 lists 6 people; 5 received compensation from the organization, the highest $193,511 (RAYMOND MARCEAU, SENIOR DEVELOPER).
- How much revenue does UNIVERSAL GIFTED SAVINGS INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,678,770, expenses of $1,140,507 and total assets of $717,484 at year end.
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