Indima Foundation
Indima Foundation is a private foundation, based in Oak Brook, IL. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $5.4M in total assets. In 2025, it awarded 5 grants totaling $514K. Net investment income was $1.2M.
Indima Foundation at a glance
In short: Indima Foundation gave $514K across 5 grants in 2025 (avg $103K), mostly in Illinois. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $513,690
- -3.1% vs 2024
- Grants made (2025)
- 5
- +25.0% vs 2024
- Average grant
- $102,738
- -22.5% vs 2024
- Median grant
- $10,000
- Total assets
- $5,357,034
- +16.3% vs 2024
- Primary geography
- Illinois (99% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
Who Indima Foundation funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2025
The largest 2025 recipient was University of Illinois ($250K). Together the top 5 received $514K.
Grant Size Distribution
23 grants across all recorded years
The most common grant size was under $50K: 16 grants of 23 (70%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 5 itemized grants.
States
Cities
How Indima Foundation gives
- Giving grew 303% from 2022 to 2025. Method
- In 2025 it paid out 96% 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 2021 to 2025, annual grant giving ranged from $128K (2022) to $530K (2024). In 2025 it made 5 grants totaling $514K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University of Illinois Chicago, IL | International Fellowship | $250,000 |
| Loyola University Chicago, IL | Medical Research | $250,000 |
| Blind Foundation of India Naperville, IL | Donation | $10,000 |
| Global Brigades Fresno, CA | Donation | $2,690 |
| Dupage Foundation Downers Grove, IL | Donation | $1,000 |
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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 | $5,357,034 | $1,493,300 | $659,072 | $513,690 | 5 | $513,690 | $1,195,399 | $533,995 |
| 2024 | $4,606,554 | $1,271,495 | $743,272 | $530,000 | 4 | $530,000 | $928,465 | $453,344 |
| 2023 | $4,274,798 | $365,868 | $404,479 | $264,000 | 5 | $264,000 | $97,879 | $317,731 |
| 2022 | $4,530,326 | $916,149 | $215,192 | $127,500 | 3 | $127,500 | $621,587 | $201,909 |
| 2021 | $4,019,866 | $943,811 | $567,404 | $476,001 | 6 | — | $597,006 | $287,788 |
Under IRS private-foundation payout rules, Indima Foundation reported a distributable amount of $534K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Indima Foundation is led by Mallika Ray, President on every filing since 2021; 1 of 7 officers listed in 2025 is compensated.
Officers on the 2025 filing
Mallika Ray
President
On filings since 2021
$10K (2024) → $59K (2025)
Ratnam Chittori
Director
On filings since 2021
No compensation reported
Suparna Banerjee
Director
On filings since 2021
No compensation reported
Cherissa Krajniak
Director
New on the 2025 filing
No compensation reported
Travis Indharasophang
Director
New on the 2025 filing
No compensation reported
Asok Ray
Secretary
On filings since 2021
No compensation reported
Timothy Fullerton Sr.
Treasurer
Director & CFO → Treasurer, 2025
On filings since 2021
No compensation reported
Data from IRS Form 990 filings, 2021–2025. "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 $59K, to Mallika Ray (President).
Frequently asked questions about Indima Foundation
How much does Indima Foundation give each year?
Indima Foundation gave $514K across 5 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $530K across 4 grants.
What is Indima Foundation's typical grant size?
Indima Foundation's median grant in 2025 was $10,000, and its average grant was $102,738, across 5 grants on its 2025 IRS Form 990-PF.
Where does Indima Foundation give grants?
Indima Foundation gives mostly in Illinois: 99% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Chicago, IL (2 grants).
Does Indima Foundation give general operating support?
Not in 2025: none of the 5 grants with a stated purpose on Indima Foundation's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Donation" (3 grants).
Who are Indima Foundation's largest grantees?
Indima Foundation's largest 2025 grantees include University of Illinois ($250,000), Loyola University ($250,000) and Blind Foundation of India ($10,000), according to its 2025 IRS Form 990-PF. Together they received 99% of its itemized 2025 grant dollars.
How large is Indima Foundation?
Indima Foundation reported $5.4M in total assets on its 2025 IRS Form 990-PF. It paid out $514K in qualifying distributions that year, against a required minimum of $534K (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 Indima Foundation's EIN?
Indima Foundation's EIN (Employer Identification Number) is 36-3914683. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2021 (received by the IRS October 5, 2021)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS September 13, 2022)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS October 2, 2023)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS September 25, 2024)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS October 4, 2025)
- IRS filings on file for fiscal years 2021–2025
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