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Nonprofiteer
← SHETH GLOBAL FOUNDATION INC

Form 990 for tax year 2022

Filed by SHETH GLOBAL FOUNDATION INC.

Totals

Total revenue
$800,000
Total expenses
$145,894
Contributions and grants received
$800,000
Grants paid
$92,715
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$6,005,432
Total liabilities, end of year
$31,000
Net assets or fund balances, end of year
$5,974,432
Program services expenses (Part IX)
$95,352
Management and general expenses
$50,542
Fundraising expenses
$0
Program service expenses (Part III)
$95,352

Program services were 65.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $800,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $92,715 · program services $92,715

  • 5 · Compensation of officers, directors and key employees

    total $4,000 · management and general $4,000

  • 11c · Fees: accounting

    total $15,741 · management and general $15,741

  • 11f · Fees: investment management

    total $24,770 · management and general $24,770

  • 13 · Office expenses

    total $41 · management and general $41

  • 14 · Information technology

    total $2,300 · management and general $2,300

  • 17 · Travel

    total $1,038 · management and general $1,038

  • 19 · Conferences, conventions and meetings

    total $2,652 · management and general $2,652

  • 24a · Other expenses: AWARDS & CELEBRATION

    total $2,637 · program services $2,637

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $428,079 · end of year $1,215,980

  • 11 · Investments: publicly traded securities

    beginning of year $5,665,627 · end of year $4,595,427

  • 15 · Other assets

    beginning of year $194,025 · end of year $194,025

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,416

  • 18 · Grants payable

    beginning of year $30,000 · end of year $31,000

  • 27 · Net assets without donor restrictions

    beginning of year $6,252,315 · end of year $5,974,432

Mission and programs · 2022

Mission

THE MISSION OF THE SHETH GLOBAL FOUNDATION IS TO CARRY OUT THE PURPOSES OF THE COMMUNITY FOUNDATION FOR GREATER ATLANTA. THE MISSION IS ALSO TO FURTHER THE DEVELOPMENT AND RECOGNITION OF SCHOLARS AND SCHOLARSHIP IN MARKETING GLOBALLY BY PROVIDING SUPPORT TO GRANT AWARDING RECIPIENT ORGANIZATIONS. THE SHETH GLOBAL FOUNDATION ENJOYS HIGH NAME RECOGNITION AMONGST MARKETING SCHOLARS, PARTLY DUE TO THE VARIOUS PROGRAMS AND ORGANIZATIONS IT SUPPORTS, AND PARTLY DUE TO THE PRESTIGE AND RECOGNITION THAT SHETH AWARDS REPRESENT. IN TURN, SCHOLARS WHO BENEFIT FROM THE FOUNDATION ARE ALSO COMMITTED TO THE GOALS AND MISSIONS OF THE FOUNDATION.

Activities or mission (Part I)

THE MISSION OF THE SHETH GLOBAL FOUNDATION IS TO CARRY OUT THE PURPOSES OF THE COMMUNITY FOUNDATION FOR GREATER ATLANTA. THIS WILL BE ACCOMPLISHED BY TWO DIVISIONS SHETH EDUCATION FOUNDATION AND SHETH FOUNDATION TO PROMOTE THE DEVELOPMENT OF MARKETING SCHOLARSHIP BY FOCUSING ON THREE AREAS:- KNOWLEDGE CREATION: THE GENERATION OF NEW MARKETING INSIGHTS AND SCHOLARSHIP- KNOWLEDGE RECOGNITION: INCLUDES AWARDS, GRANTS AND OTHER ACTIVITIES DESIGNED TO EXPRESS APPRECIATION AND ELEVATE THE CONTRIBUTIONS OF INDIVIDUAL ACADEMICS- KNOWLEDGE DISSEMINATION: THE COMMUNICATION OR DISTRIBUTION OF INSIGHTS ON NEW AND EMERGING MARKETING TOPICS WITHIN THE FIELD OF MARKETING AND BUSINESSTHE SHETH FOUNDATION SUPPORTS VARIOUS ORGANIZATIONS, AWARDS AND EVENTS THAT FULFILL THESE GOALS.

  • THE SHETH GLOBAL FOUNDATION SUPPORTS ORGANIZATIONS AND EVENTS ALIGNED WITH THE FOUNDATION'S GOAL TO PROMOTE THE DEVELOPMENT AND RECOGNITION OF SCHOLARS AND MARKETING SCHOLARSHIP GLOBALLY. IT HAS DONATED MILLIONS OF DOLLARS TO NONPROFIT ORGANIZATIONS AROUND THE WORLD SINCE ITS FOUNDING IN 1991. THE SHETH GLOBAL FOUNDATION IS A SUPPORTING ORGANIZATION OF THE COMMUNITY FOUNDATION OF GREATER ATLANTA, LOCATED IN ATLANTA, GEORGIA.

    Expenses $92,715 · Grants $92,715

  • THE SHETH GLOBAL FOUNDATION MEDAL IS A BI-ANNUAL AWARD DESIGNED TO RECOGNIZE A MARKETING ACADEMIC WHO HAS MADE ENDURING AND TRANSFORMATIONAL CONTRIBUTIONS TO (A) MARKETING SCHOLARSHIP AND (B) MARKETING PRACTICE IN THE FORM OF FOR-PROFIT, NOT-FOR-PROFIT, OR GOVERNMENTAL ORGANIZATIONS.

    Expenses $2,637

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alison L O'Carroll

    DIRECTOR

    Total calculated
    $184,373
    From this org
    $0
    From related orgs
    $172,584
    Other
    $11,789
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $162,400 related
    Bonus
    $0 + $8,000 related
    Other
    $0 + $2,184 related
    Deferred
    $0 + $9,828 related
    Nontaxable benefits
    $0 + $1,961 related
    Filer's total
    $0 + $184,373 related

  • Laura Hilado

    EXECUTIVE DIRECTOR

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Jagdish N Sheth

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Ken Bernhardt

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Rajen Sheth

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Doug Bowman

    TREASURER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202343139349303769

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