Lachimi Foundation

Troy, MI
Tax-exempt since Dec. 1999
EIN: 38-3429963

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Independent Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$10.5M (2023)

Expenses

$10.1M (2023)

Total Assets

$16.1M (2023)

Total Liabilities

$0 (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

$10,497,163

Expenses

$10,133,993

Net Income

$363,170

Net Assets

$16,113,769

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$10,000,000	95.3%
Interest Revenue	$89,188	0.8%
Dividends	$365,161	3.5%
Sales of Assets	$42,814	0.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$10,000,000	98.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$16,113,769
Total Liabilities	$0
Net Assets	$16,113,769

Compensation

Key Employees and Officers	Compensation	Other
Madhava G Reddy (President)	$0	$0
Sobha Reddy (Director)	$0	$0
Teja Reddy (Director)	$0	$0
Keshav Reddy (Director)	$0	$0
Adarsh Reddy (Director)	$0	$0

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990-PF

Filed on Nov. 4, 2024

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2022

Revenue

$5,373,069

Expenses

$7,114,845

Net Income

-$1,741,776

Net Assets

$15,703,396

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$5,000,000	93.1%
Interest Revenue	$28,682	0.5%
Dividends	$355,064	6.6%
Sales of Assets	-$10,677
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$7,000,000	98.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$15,703,396
Total Liabilities	$0
Net Assets	$15,703,396

Compensation

Key Employees and Officers	Compensation	Other
Madhava G Reddy (President)	$0	$0
Sobha Reddy (Director)	$0	$0
Teja Reddy (Director)	$0	$0
Keshav Reddy (Director)	$0	$0
Adarsh Reddy (Director)	$0	$0

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990-PF

Filed on Nov. 9, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2021

Revenue

$4,296,802

Expenses

$4,101,300

Net Income

$195,502

Net Assets

$18,145,848

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$1,533,429	35.7%
Interest Revenue	$25,620	0.6%
Dividends	$596,715	13.9%
Sales of Assets	$2,141,038	49.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$4,000,000	97.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$18,145,848
Total Liabilities	$0
Net Assets	$18,145,848

Compensation

Key Employees and Officers	Compensation	Other
Madhava G Reddy (President)	$0	$0
Sobha Reddy (Director)	$0	$0
Teja Reddy (Director)	$0	$0
Keshav Reddy (Director)	$0	$0
Adarsh Reddy (Director)	$0	$0

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990-PF

Filed on June 27, 2022

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2020

Revenue

$3,917,320

Expenses

$5,101,102

Net Income

-$1,183,782

Net Assets

$17,796,816

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$2,921,742	74.6%
Interest Revenue	$19,153	0.5%
Dividends	$359,469	9.2%
Sales of Assets	$616,956	15.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,010,000	98.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$17,796,817
Total Liabilities	$1
Net Assets	$17,796,816

Compensation

Key Employees and Officers	Compensation	Other
Madhava G Reddy (President)	$0	$0
Sobha Reddy (Director)	$0	$0
Narasimhachary Mudumby (Director)	$0	$0

990-PF

Filed on Nov. 12, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2019

Revenue

$3,964,366

Expenses

$1,599,961

Net Income

$2,364,405

Net Assets

$18,982,106

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$3,020,296	76.2%
Interest Revenue	$53,758	1.4%
Dividends	$346,994	8.8%
Sales of Assets	$540,020	13.6%
Other Income	$3,298	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,500,000	93.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$18,982,107
Total Liabilities	$1
Net Assets	$18,982,106

Compensation

Key Employees and Officers	Compensation	Other
Madhava G Reddy (President)	$0	$0
Sobha Reddy (Director)	$0	$0
Narasimhachary Mudumby (Director)	$0	$0

990-PF

Filed on Nov. 7, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2018

Revenue

$4,174,952

Expenses

$118,092

Net Income

$4,056,860

Net Assets

$16,543,627

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$3,671,460	87.9%
Interest Revenue	$27,711	0.7%
Dividends	$371,292	8.9%
Sales of Assets	$99,095	2.4%
Other Income	$5,394	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$0
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$16,560,349
Total Liabilities	$16,722
Net Assets	$16,543,627

Compensation

Key Employees and Officers	Compensation	Other
Madhava G Reddy (President)	$0	$0
Sobha Reddy (Director)	$0	$0
Narasimhachary Mudumby (Director)	$0	$0

990-PF

Filed on Nov. 15, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Dec.
2017

Revenue

$4,689,373

Expenses

$4,068,161

Net Income

$621,212

Net Assets

$12,529,785

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$3,691,602	78.7%
Interest Revenue	$18,244	0.4%
Dividends	$288,233	6.1%
Sales of Assets	$687,203	14.7%
Other Income	$4,091	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$4,000,000	98.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,546,507
Total Liabilities	$16,722
Net Assets	$12,529,785

Compensation

Key Employees and Officers	Compensation	Other
Madhava G Reddy (President)	$0	$0
Sobha Reddy (Director)	$0	$0
Narasimhachary Mudumby (Director)	$0	$0

990-PF

Filed on Nov. 12, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Dec.
2016

Revenue

$6,225,417

Expenses

$5,096,895

Net Income

$1,128,522

Net Assets

$11,908,573

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$6,014,382	96.6%
Interest Revenue	$10,499	0.2%
Dividends	$225,686	3.6%
Sales of Assets	-$36,133
Other Income	$10,983	0.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,045,060	99.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,925,295
Total Liabilities	$16,722
Net Assets	$11,908,573

Compensation

Key Employees and Officers	Compensation	Other
Madhava G Reddy (President)	$0	$0
Sobha Reddy (Director)	$0	$0
Narasimhachary Mudumby (Director)	$0	$0

990-PF

Filed on Nov. 15, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2015

Revenue

$5,300,676

Expenses

$3,805,781

Net Income

$1,494,895

Net Assets

$10,779,910

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$5,000,000	94.3%
Interest Revenue	$15,016	0.3%
Dividends	$235,011	4.4%
Sales of Assets	$49,453	0.9%
Other Income	$1,196	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$3,750,000	98.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$10,809,867
Total Liabilities	$29,957
Net Assets	$10,779,910

Compensation

Key Employees and Officers	Compensation	Other
Madhava G Reddy (President)	$0	$0
Sobha Reddy (Director)	$0	$0
Narasimhachary Mudumby (Director)	$0	$0

990-PF

Filed on Nov. 15, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$822,047

Expenses

$653,752

Net Income

$168,295

Net Assets

$9,284,713

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$8	0.0%
Dividends	$451,413	54.9%
Sales of Assets	$370,626	45.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$600,000	91.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$9,301,642
Total Liabilities	$16,929
Net Assets	$9,284,713

Compensation

Key Employees and Officers	Compensation	Other
Madhava G Reddy (President)	$0	$0
Sobha Reddy (Director)	$0	$0
Narasimhachary Mudumby (Director)	$0	$0

990-PF

Filed on Nov. 13, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$4,824,007

Expenses

$3,044,839

Net Income

$1,779,168

Net Assets

$9,116,282

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$4,300,000	89.1%
Interest Revenue	$24,298	0.5%
Dividends	$231,148	4.8%
Sales of Assets	$258,474	5.4%
Other Income	$10,087	0.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$3,000,000	98.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$9,127,211
Total Liabilities	$10,929
Net Assets	$9,116,282

Compensation

Key Employees and Officers	Compensation	Other
Madhava G Reddy (President)	$0	$0
Sobha Reddy (Director)	$0	$0
Narasimhachary Mudumby (Director)	$0	$0

990-PF

Filed on July 28, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2012

Revenue

$4,397,791

Expenses

$1,650,318

Net Income

$2,747,473

Net Assets

$7,337,114

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$4,200,000	95.5%
Interest Revenue	$16,406	0.4%
Dividends	$113,302	2.6%
Sales of Assets	$62,348	1.4%
Other Income	$5,735	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,635,000	99.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$7,341,713
Total Liabilities	$4,599
Net Assets	$7,337,114

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$2,274,926

Expenses

$1,895,295

Net Income

$379,631

Net Assets

$4,589,641

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$2,102,505	92.4%
Interest Revenue	$32,192	1.4%
Dividends	$82,520	3.6%
Sales of Assets	$57,709	2.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,865,000	98.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,592,240
Total Liabilities	$2,599
Net Assets	$4,589,641

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Lachimi Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $10.5M (2023)

Expenses $10.1M (2023)

Total Assets $16.1M (2023)

Total Liabilities $0 (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Revenue

$10.5M (2023)

Expenses

$10.1M (2023)

Total Assets

$16.1M (2023)

Total Liabilities

$0 (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

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2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

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Fiscal Year Ending Dec.
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