Nonprofit · EIN 93-2110123
INDIAN AMERICAN BUSINESS IMPACT GROUP FOUNDATION
Tax-exempt · MCLEAN, VA 22101
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,495,378 | $216,326 | $1,279,052 | $1,452,931 | $12,726 | $1,440,205 |
| December 31, 2023 | 990-EZ | $162,585 | $1,432 | $161,153 | $161,153 | $0 | $161,153 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,392,941
- Membership dues
- $607,566
- Program service revenue
- $79,147
- Investment income
- $18,869
- Net income from fundraising events
- $4,421
- Other revenue
- $4,421
Expenses
- Grants and similar amounts paid
- $42,500
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $1,500
- Travel
- $5
- Program services (functional)
- $207,928
- Management and general (functional)
- $8,398
Balance sheet and other
- Total assets, start of year
- $161,153
- Total assets, end of year
- $1,452,931
- Total liabilities, end of year
- $12,726
- Net assets, end of year
- $1,440,205
- Gross unrelated business income
- $23,290
- Gross receipts
- $1,535,855
- Employees
- 0
- Volunteers
- 84
- Year formed
- 2023
- State of legal domicile
- VA
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 |
|---|---|---|---|
| Anil Sharma | Director Trustee or director | 10 | $0 |
| Ashish Khot | Director Trustee or director | 10 | $0 |
| Ravi Puli | Director Trustee or director | 10 | $0 |
| Sandesh Sharda | Founder Officer | 8 | $0 |
990-EZ for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Sandesh Sharda | Founder | 0 | $0 |
| Anil Sharma | Director | 10 | $0 |
| Ashish Khot | Director | 10 | $0 |
| Ravi Puli | Director | 10 | $0 |
Address and contacts
- Address (IRS master file)
- 6764 OLD MCLEAN VILLAGE DR, MCLEAN, VA 22101-3906
- In care of
- % SANDESH SHARDA
- Signed the 990
- SANDESH SHARDA, DirectorOfficer
- Phone
- (571) 331-1355
- Website
- www.iambusinessimpact.org
- Return prepared by
- Radiant Solutions Inc
Mission
The mission of Indian American Business Impact Group (IAMBIG) is to be a platform for Indian American and other ethnic business owners and to promote the next generation of local business leaders,Women entreprenuership and youth entreprenuership in the DC,Maryland and VA area.
Program accomplishments
- Put on monthly educational events with speakers to promote entrepreneurship and empower women leadership in business.Expenses $165,428 · revenue $79,147
- For Hudson Institute to promote entrepreneurship and empower women leadership in business.Expenses $25,000 · grants $25,000
- For Hood College to promote entrepreneurship and empower women leadership in business.Expenses $15,000 · grants $15,000
- For National Kidney Foundation to promote entrepreneurship and empower women leadership in non profits.Expenses $2,500 · grants $2,500
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-EZ on file |
IRS record
- EIN
- 93-2110123
- 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
- 2023
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S43)
- Assets (IRS master file)
- $1,452,931
- Income (IRS master file)
- $1,535,855
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,495,378 | $216,326 | $1,452,931 | XML |
| 990-EZ | December 2023 | $162,585 | $1,432 | $161,153 | XML |
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 93-2110123).
Questions about INDIAN AMERICAN BUSINESS IMPACT GROUP FOUNDATION
- What is the EIN of INDIAN AMERICAN BUSINESS IMPACT GROUP FOUNDATION?
- The employer identification number (EIN) of INDIAN AMERICAN BUSINESS IMPACT GROUP FOUNDATION is 93-2110123.
- Is INDIAN AMERICAN BUSINESS IMPACT GROUP FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to INDIAN AMERICAN BUSINESS IMPACT GROUP FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INDIAN AMERICAN BUSINESS IMPACT GROUP FOUNDATION 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 INDIAN AMERICAN BUSINESS IMPACT GROUP FOUNDATION 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 INDIAN AMERICAN BUSINESS IMPACT GROUP FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who are the officers and directors of INDIAN AMERICAN BUSINESS IMPACT GROUP FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
- How much revenue does INDIAN AMERICAN BUSINESS IMPACT GROUP FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,495,378, expenses of $216,326 and total assets of $1,452,931 at year end.
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All nonprofits in MCLEAN · Virginia · Community improvement and capacity building