Banga Family Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ALBANY, NY. IRS filing data is available from 2023 through 2024. As of 2024, the organization holds $32.4M in total assets. In 2024, it awarded 7 grants totaling $635K. Net investment income was $5.5M.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$32.4M
+3.5% YoY
Annual Giving
$635K
Grant Count
7
Avg Grant Size
$91K
Under IRS private-foundation payout rules, Banga Family Foundation reported a distributable amount of $1.5M for 2024 — the minimum it must pay out in qualifying distributions.
About Banga Family Foundation
Based on IRS filings
Banga Family Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ALBANY, NY. IRS filing data is available from 2023 through 2024. As of 2024, the organization holds $32.4M in total assets. In 2024, it awarded 7 grants totaling $635K. Net investment income was $5.5M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 |
|---|---|---|
| Total Assets | $32,440,876 | $31,330,094 |
| Revenue | $5,937,002 | $54,870,309 |
| Expenses | $1,369,961 | $792 |
| Qualifying Distributions | $862,889 | — |
| Net Investment Income | $5,450,417 | $25,426,258 |
| Distributable Amount | $1,525,722 | $535,108 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
Grant Size Distribution
7 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Shed NYC Inc ($500,000), The President and Fellows of Harvard College ($50,000), Marymount School of New York ($27,500).
| Recipient | Purpose | Amount |
|---|---|---|
| The President and Fellows of Harvard College Cambridge, MA | General Support | $50,000 |
| Barrow Street Nursery School New York, NY | General Support | $10,000 |
| Marymount School of New York New York, NY | General Support | $27,500 |
| Shed NYC Inc New York, NY | General Support | $500,000 |
| Harvard Business School Boston, MA | General Support | $2,500 |
| council on foreign relations New York, NY | General Support | $25,000 |
| Hudson River Park Friends New York, NY | General Support | $20,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| RITU BANGA | TRUSTEE | 4 | — |
| ADITI BANGA | TRUSTEE | 4 | $100,000 |
| JYOTIKA BANGA | TRUSTEE | 4 | $100,000 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Banga Family Foundation?
Banga Family Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ALBANY, NY. It holds $32.4M in total assets as of 2024.
How large is Banga Family Foundation?
As of 2024, Banga Family Foundation holds $32.4M in total assets with $5.9M in annual revenue. It awarded 7 grants totaling $635K in 2024.
Where does Banga Family Foundation operate?
Banga Family Foundation has awarded grants in Massachusetts, New York.
What size grants does Banga Family Foundation award?
In 2024, Banga Family Foundation awarded 7 grants totaling $635K — an average of about $91K per grant, based on its IRS Form 990 filings.
How much is Banga Family Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Banga Family Foundation reported a distributable amount of $1.5M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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 2023–2024.
Explore Open Grants
Browse active grant opportunities in Banga Family Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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