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Financial Analysis of Indian Community Non-Profit Organizations

On the financial ladder, the top rank in 2016 goes to Gurdwara Baba Deep Singh with a year-end cash position of close to $600,000, followed by Dr. Reeta Thukral’s Global Charity Organization which is holding over $ 521,000 in cash and other liquid investments.  During the same year, Friends of India’s year-end cash position fell to just over $39,000.

Auditing the 2016 tax returns of the Indian community non-profit organizations in Las Vegas reflects organizations are doing well financially and are serving the spiritual and social needs of the local community.  The healthy balance sheet of all the organizations affirms the continuous & unwavering support for such organizations from the local Indian community.

Locally based Sharon India Foundation has done an exceptional job in helping the needy and poverty-stricken individuals in India.  Since 2012, the foundation has raised over $1.5 million and has spent the same amount to assist poverty-stricken families in India.  Currently, the foundation is operating in Andhra Pradesh, Telangana, Tamil Nadu, Karnataka, and Odisha.

Asian American Coalition of Nevada Inc., c/o Mike Vaswani 3667 Dutch Valley Drive, Las Vegas, NV 89147.  EIN: 47-2169059 Year-End Cash (2014) – $28,525

Asian American Coalition is run by husband and wife team of Manohar L. Vaswani as President and Rita Vaswani as Secretary of the organization.  Under the statement of program service accomplishments, the coalition provides relief to the poor and underprivileged along with providing charitable religious scholarship, medical and open to the public for underprivileged children. Under public charity status, the coalition is shown as a church, convention of churches or association of churches described under the certain section of IRS codes.  In 2014, the coalition raised $31,000, while their total expenses were $2,475 with a net excess of $28,525.  The last available public records on the coalition are taxes for 2014.  The 2016 tax records are not available to

Friends of India, 837 Trotter Circle, Las Vegas, NV 89107.  EIN: 88-0230429  Year End Cash (2016) – $39,505.

As per the 2016 Friends of India tax returns, the club has all-time low funds totaling $39,505.  At the end of December 2012, Friends of India had the cash balance of $81,077.  Friends of India’s cash holdings have been in steep decline for the past few years.  Friends of India does not own any other assets.  During 2016, FOI raised over $78,500 from numerous fundraising activities, while the total expenses during the calendar 2016 were $69,400.

Global Charity Foundation, 4575 Riva De Romanza Street, Las Vegas, NV 89135. EIN: 20-5015581   Year-End Cash and Investments in public traded securities (2016) – $521,094

Reeta Thukral’s Global Charity Foundation mission is to provide medical and educational assistance to underprivileged children and adults in various states of India, Africa and other underdeveloped areas of the world.  The foundation holds an annual fundraising banquet in Las Vegas to continue its charitable programs across the world.  The next upcoming fundraiser is scheduled on Saturday, February 24th at the Venetian Hotel. At the end of the calendar year 2016, the GCF added over $24,000 to its treasury with ending cash and investments totaling over $521,094.  During the same year GCF annual expenditure were over $91,500 on numerous social programs.  Interestingly, other than Dr. Thukral being a President, no local Indian community member is a member of the Global Charity Organization board.

Gurdwara Baba Deep Singh, 6341 W. Lone Mountain Rd., Las Vegas, NV.  EIN: 88-0395798  Year End Cash (2016) – $ 590,434.

During the calendar year 2016, Gurdwara Baba Deep Singh raised over $244,000. During the same year, the annual expenses were $182,000 with a net gain of just over $62,000.  Gurdwara’s total assets were close to $1.6 million, an increase of over $70,000 from the prior year, which includes cash, land and building at the Lone Mountain location.

Major expenses for the year 2016, include $79,120 for special events (vaisakhi mela, and other events), Priest expenses $23,200, repair and maintenance $9,400, and utilities $19,200.   At the end of 2016, Gurdwara had a net cash balance of $590,434.  To promote transparency and accountability, Gurdwara Baba Deep Singh publishes its monthly financial reports on its website, however, lately the current financial reports are not posted.

Guru Nanak Gurdwara, 4487 E. Russell Road, Las Vegas, NV 89120. Year End Cash (2016) – $ 95,320.

Las Vegas oldest gurudawara – Guru Nanak Gurudawara received monetary donation of over $103,300 in 2016.  During the same time period, the expenses were over $71,600, with a net income of over $31,700.  2016 year-end cash balance was just over $176,600. Major expenses include priest services salaries; repairs and maintenance; and monthly utilities.

Hindu Society of Nevada, 1701 Sageberry Drive, Las Vegas, NV.  EIN: 88-0324493  2014 year Tax Returns were not available at the time of this article, however, 2012 review is shown below.

Hindu Society of Nevada’s (dba Hindu and Jain Temple of Las Vegas) total revenues for 2012 were $337,218, while the total expenses during the same period were $218,319.  The net income for the mandir during 2012 was over $118,000.  The major source of revenues for the Mandir was contribution/donation from the community.

Major expenses during 2012 include annual compensation to priest – $56,000, payroll taxes – $17,315; office expenses – $10,800; Insurance – $13,207; along with other routine expenses.

At the end of 2012, the mandir had a cash balance of $240,000.  Surprisingly, tax return are not correct as the tax prepared failed to show the current value of Mandirs’ assets, specifically the value of mandir’s land, building and other structures.  Beginning last year, Hindu Mandir has started posting quarterly financial reports on its website.

Las Vegas India Chamber of Commerce, 3667 Dutch Valley Dr., Las Vegas. NV 89147.  EIN: 26-4138023  Year End Cash (2016) – $ 27,541

As per LVICC website, LVICC was formed with a mission to promote economic trade and investment opportunities.  Rita Vaswani is the President of LVICC and her home address is the official headquarters of the Indian Chamber. The 2016 tax returns are not available to, however, the 2014 tax returns reflect the total revenues of under $17,300of which $1,800 is accounted as membership dues.  During the same time period, LVICC total expenses exceeded over $20,300.  The year-end cash balance with LVICC was $27,541.

Sharon India Foundation, 2603 West Charleston Blvd., Las Vegas, NV 891072 EIN: 26-2709557  Year End Cash (2016) – $36,462

Sharon India Foundation, run by Daniel Russell, is dedicated to assisting poor Indians, disabled, widows, and orphans. Activities include medical and employment assistance, construction, clothing, and education.  The foundation has provided sewing machines and training on how to use the same. Additionally, the foundation has provided free education, school supplies and clothing to poor children in slum areas.

During 2016, the foundation raised over $250,000 for their program services.  During the same year, the foundation spent little over $295,000 for its program related activities.  Since 2012, the foundation has raised over $1.5 million and has spent the same amount to assist poverty-stricken families in India.  Currently, the foundation is operating in Andhra Pradesh, Telangana, Tamil Nadu, Karnataka, and Odisha.

United Citizens Foundation, 3900 S. Hualapai Way, Las Vegas, NV 89147 EIN: 27-2289242  Year-End Cash (2016) – $15,049

As per the tax filings, Ashok Mirchandani’s United Citizens Foundation has established programs to serve the local community, purchased and donated medical equipment to the UCF clinic, providing medical, counseling and behavioral services to all students attending Clark County School District, many times with no out of pocket cost to the student or their families.  At the end of the year 2016, UCF had a cash balance of $15,049.  UCF’s total revenues for the year were close to $40,500, while expenses during the same period amounted to over $101,800.  The major expense totaling over $27,400 was for the salaries and employee benefits.  Other major expenses include Advertising and Promotion $23,665 and Medical Equipment $27,444.

Ash Mirchandani is listed as the only key officer, the President of the organization, however, the tax returns for the United Citizens Foundation are signed Ms. Radha Chanderraj with a title of President.  This, the two Presidents of the United Citizens could be an oversight.

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