Banga Family Foundation
Banga Family Foundation is a private foundation, based in Albany, NY. IRS filing data is available from 2023 through 2025. As of 2025, the organization holds $32.5M in total assets. In 2025, it awarded 7 grants totaling $669K. Net investment income was $1.1M.
Banga Family Foundation at a glance
In short: Banga Family Foundation gave $669K across 7 grants in 2025 (avg $96K), mostly in New York. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $668,900
- +5.3% vs 2024
- Grants made (2025)
- 7
- +0.0% vs 2024
- Average grant
- $95,557
- +5.3% vs 2024
- Median grant
- $50,000
- Total assets
- $32,523,193
- +0.3% vs 2024
- Primary geography
- New York (88% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Banga Family Foundation funds
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2025
The largest 2025 recipient was Shed NYC Inc ($400K). Together the top 7 received $669K.
Grant Size Distribution
14 grants across all recorded years
The most common grant size was under $50K: 8 grants of 14 (57%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 7 itemized grants.
Cities
How Banga Family Foundation gives
- In 2025 it paid out 54% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2024 to 2025, annual grant giving ranged from $635K (2024) to $669K (2025). In 2025 it made 7 grants totaling $669K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Shed NYC Inc New York, NY | General Support | $400,000 |
| Weill Cornell Medical College New York, NY | General Support | $125,000 |
| Hudson River Park Friends New York, NY | General Support | $51,400 |
| The President and Fellows of Harvard College Cambridge, MA | General Support | $50,000 |
| Stanford University Stanford, CA | General Support | $25,000 |
| Barrow Street Nursery School New York, NY | General Support | $15,000 |
| Harvard Business School Boston, MA | General Support | $2,500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $32,523,193 | $1,405,885 | $1,095,537 | $668,900 | 7 | $901,294 | $1,071,661 | $1,654,574 |
| 2024 | $32,440,876 | $5,937,002 | $1,369,961 | $635,000 | 7 | $862,889 | $5,450,417 | $1,525,722 |
| 2023 | $31,330,094 | $54,870,309 | $792 | — | — | — | $25,426,258 | $535,108 |
Under IRS private-foundation payout rules, Banga Family Foundation reported a distributable amount of $1.7M for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Banga Family Foundation's 2025 filing lists 3 officers; 2 of 3 officers listed in 2025 are compensated.
Officers on the 2025 filing
Aditi Banga
Trustee
On filings since 2023
4 hrs/week
$100K (2024) → $100K (2025)
Jyotika Banga
Trustee
On filings since 2023
4 hrs/week
$100K (2024) → $100K (2025)
Ritu Banga
Trustee
On filings since 2023
4 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2023–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $100K, to Aditi Banga (Trustee). 2 officers or directors reported compensation on that filing.
Frequently asked questions about Banga Family Foundation
How much does Banga Family Foundation give each year?
Banga Family Foundation gave $669K across 7 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $635K across 7 grants.
What is Banga Family Foundation's typical grant size?
Banga Family Foundation's median grant in 2025 was $50,000, and its average grant was $95,557, across 7 grants on its 2025 IRS Form 990-PF.
Where does Banga Family Foundation give grants?
Banga Family Foundation gives mostly in New York: 88% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Massachusetts (8%). The most frequent recipient cities were New York, NY (4 grants).
Does Banga Family Foundation give general operating support?
Yes: 100% of Banga Family Foundation's 2025 grants with a stated purpose (7 of 7) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Banga Family Foundation's largest grantees?
Banga Family Foundation's largest 2025 grantees include Shed NYC Inc ($400,000), Weill Cornell Medical College ($125,000) and Hudson River Park Friends ($51,400), according to its 2025 IRS Form 990-PF. Together they received 86% of its itemized 2025 grant dollars.
How large is Banga Family Foundation?
Banga Family Foundation reported $32.5M in total assets on its 2025 IRS Form 990-PF. It paid out $901K in qualifying distributions that year, against a required minimum of $1.7M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is Banga Family Foundation's EIN?
Banga Family Foundation's EIN (Employer Identification Number) is 93-1621605. IRS Form 990 filing data is available on this page for 2023–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(4)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 14, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS August 27, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 15, 2026)
- IRS filings on file for fiscal years 2023–2024
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