Drs Kiran & Pallavi Patel Familyfoundation Inc
Patel Family Foundation shows significant asset base and zero officer compensation amidst volatile revenue and expenses.
EIN: 203916634 · Tampa, FL · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $881K |
| Total Expenses | $8.1M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $46 |
| Net Assets | $42.8M |
| Transparency Score | 85/100 |
Is Drs Kiran & Pallavi Patel Familyfoundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Drs Kiran & Pallavi Patel Familyfoundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Drs Kiran & Pallavi Patel Familyfoundation Inc
Drs Kiran & Pallavi Patel Familyfoundation Inc (EIN: 203916634) is a nonprofit organization based in Tampa, FL, classified under NTEE code T22. The organization reported total revenue of $881K and total assets of $46.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Drs Kiran & Pallavi Patel Familyfoundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Drs Kiran & Pallavi Patel Familyfoundation Inc is a small nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -26.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $94K |
| Total Expenses | $8.1M |
| Surplus / Deficit | $-8,017,945 |
| Total Assets | $44.2M |
| Total Liabilities | $1.4M |
| Net Assets | $42.8M |
| Operating Margin | -8486.4% |
| Debt-to-Asset Ratio | 3.2% |
| Months of Reserves | 65.4 months |
Financial Health Grade: B
In 2023, Drs Kiran & Pallavi Patel Familyfoundation Inc reported a deficit of $8.0M with expenses exceeding revenue, holds 65.4 months of operating reserves (strong position), has a debt-to-asset ratio of 3.2% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Drs Kiran & Pallavi Patel Familyfoundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -26.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -99.5% | +4760.8% | -15.9% |
| 2022 | +563.6% | -74.6% | +0.1% |
| 2021 | +47.5% | -44.9% | +29.3% |
| 2020 | -76.0% | -86.8% | -11.2% |
| 2019 | +1411.3% | +842.4% | +306.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Drs Kiran & Pallavi Patel Familyfoundation Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Drs Kiran & Pallavi Patel Familyfoundation Inc allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $8.0M, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.2%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that no salaries are paid to officers, which is highly commendable for a foundation of this size with assets exceeding $46 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Drs Kiran & Pallavi Patel Familyfoundation Inc's IRS 990 filings:
- Highly volatile revenue and expense patterns, making year-over-year financial performance difficult to predict without deeper insight into grant cycles and investment strategies.
- Significant fluctuations in liabilities, peaking at $17.6 million in 2021, which could indicate substantial financial commitments or obligations.
Strengths
The following positive indicators were identified for Drs Kiran & Pallavi Patel Familyfoundation Inc:
- Strong asset base of $46,721,733, providing long-term financial stability and capacity for grantmaking.
- Consistent reporting of 0% officer compensation across all filings, demonstrating excellent financial transparency and commitment to mission-focused spending.
- Significant program spending in certain years (e.g., $8.1 million in expenses in 2023), indicating active grantmaking and impact.
- Low administrative and fundraising overhead due to the nature of a family foundation with no officer compensation.
Frequently Asked Questions about Drs Kiran & Pallavi Patel Familyfoundation Inc
Is Drs Kiran & Pallavi Patel Familyfoundation Inc a legitimate charity?
Drs Kiran & Pallavi Patel Familyfoundation Inc (EIN: 203916634) is a registered tax-exempt nonprofit based in Florida. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $881K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Drs Kiran & Pallavi Patel Familyfoundation Inc spend its money?
Drs Kiran & Pallavi Patel Familyfoundation Inc directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Drs Kiran & Pallavi Patel Familyfoundation Inc tax-deductible?
Drs Kiran & Pallavi Patel Familyfoundation Inc is registered as a tax-exempt nonprofit (EIN: 203916634). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Drs Kiran & Pallavi Patel Familyfoundation Inc CEO make?
Drs Kiran & Pallavi Patel Familyfoundation Inc's highest-compensated officer earns $46 annually. The organization reported $881K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Drs Kiran & Pallavi Patel Familyfoundation Inc's spending goes to programs?
Drs Kiran & Pallavi Patel Familyfoundation Inc directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Drs Kiran & Pallavi Patel Familyfoundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Drs Kiran & Pallavi Patel Familyfoundation Inc is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Drs Kiran & Pallavi Patel Familyfoundation Inc located?
Drs Kiran & Pallavi Patel Familyfoundation Inc is headquartered in Tampa, Florida and files with the IRS under EIN 203916634. It is classified under NTEE code T22.
How many years of IRS 990 filings does Drs Kiran & Pallavi Patel Familyfoundation Inc have?
Drs Kiran & Pallavi Patel Familyfoundation Inc has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $881K in total revenue.
Is Drs Kiran & Pallavi Patel Familyfoundation Inc a good charity?
Based on the available data, the foundation appears to be a good charity, particularly due to its strong asset base ($46.7 million), zero officer compensation, and significant grantmaking activity (e.g., $8.1 million in expenses in 2023, likely grants). Its financial health is robust, and transparency regarding executive pay is excellent.
Why is the revenue so inconsistent year-over-year?
The highly inconsistent revenue, ranging from $94,480 in 2023 to $18.3 million in 2022, is common for family foundations. It often reflects the timing of large donations from the founding family, investment returns, or specific asset transfers rather than consistent public fundraising.
What caused the large increase in liabilities in 2021?
The significant increase in liabilities to $17.6 million in 2021 from $7.8 million in 2020 warrants further investigation. This could be due to large program-related investments, outstanding grants payable, or other financial commitments that are typical for foundations but should be understood in context.
Filing History
IRS 990 filing history for Drs Kiran & Pallavi Patel Familyfoundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Drs Kiran & Pallavi Patel Familyfoundation Inc's revenue has declined by 97.5%, moving from $3.8M to $94K. Total assets increased by 634.9% over the same period, from $6.0M to $44.2M. Total functional expenses rose by 1491.6%, from $510K to $8.1M. In its most recent filing year (2023), Drs Kiran & Pallavi Patel Familyfoundation Inc reported a deficit of $8.0M, with expenses exceeding revenue. The organization holds $1.4M in liabilities against $44.2M in assets (debt-to-asset ratio: 3.2%), resulting in net assets of $42.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $94K | $8.1M | $44.2M | $1.4M | — | View 990 |
| 2022 | $18.3M | $167K | $52.5M | $1.4M | — | View 990 |
| 2021 | $2.8M | $657K | $52.5M | $17.7M | — | View 990 |
| 2020 | $1.9M | $1.2M | $40.6M | $7.8M | — | View 990 |
| 2019 | $7.8M | $9.0M | $45.7M | $12.3M | — | View 990 |
| 2016 | $516K | $955K | $11.3M | $8.2M | — | View 990 |
| 2015 | $2.2M | $3.6M | $11.1M | $7.5M | — | View 990 |
| 2013 | $2.1M | $1.5M | $7.4M | $3.1M | — | View 990 |
| 2012 | $679K | $465K | $6.1M | $2.2M | — | View 990 |
| 2011 | $3.8M | $510K | $6.0M | $2.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $94K, expenses of $8.1M, and assets of $44.2M (revenue -99.5% year-over-year).
- 2022: Revenue of $18.3M, expenses of $167K, and assets of $52.5M (revenue +563.6% year-over-year).
- 2021: Revenue of $2.8M, expenses of $657K, and assets of $52.5M (revenue +47.5% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.2M, and assets of $40.6M (revenue -76.0% year-over-year).
- 2019: Revenue of $7.8M, expenses of $9.0M, and assets of $45.7M (revenue +1411.3% year-over-year).
- 2016: Revenue of $516K, expenses of $955K, and assets of $11.3M (revenue -76.2% year-over-year).
- 2015: Revenue of $2.2M, expenses of $3.6M, and assets of $11.1M (revenue +3.2% year-over-year).
- 2013: Revenue of $2.1M, expenses of $1.5M, and assets of $7.4M (revenue +210.0% year-over-year).
- 2012: Revenue of $679K, expenses of $465K, and assets of $6.1M (revenue -82.2% year-over-year).
- 2011: Revenue of $3.8M, expenses of $510K, and assets of $6.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Drs Kiran & Pallavi Patel Familyfoundation Inc:
Data Sources and Methodology
This transparency report for Drs Kiran & Pallavi Patel Familyfoundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.