Srs Family Foundation Inc
SRS Family Foundation Inc is a private independent foundation established in late 2014, initially with the launch of the Banyan College Scholarship program. Based in Florham Park, New Jersey, with offices in New York City, the foundation has grown significantly since its inception. The organization is designated as a 501(c)(3) and has been tax-exempt since October 2015.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$1.5M
+34.6% YoY
Grant Count
47
+23.7% YoY
Avg Grant Size
$32K
+8.8% YoY
Mission & Focus Areas
The foundation's core mission is: "By empowering youth and maximizing opportunities for them to succeed, we empower our world."
The foundation believes that every young person deserves to realize their potential and focus on well-being in a holistic way. Primary funding areas include:
- Scholarship & Education — College scholarships and educational programming
- Arts, Culture, & Sports — Sports scholarships and artistic development
- Mental Health & Spirituality — Mental health services and spiritual education
- Activism & Leadership — Youth-led activism and leadership development
The foundation focuses on programming that benefits disadvantaged youth in New York City and across the globe, with a special emphasis on uplifting youth of South Asian origin and those living in India.
Grantmaking
Recent grantees include Harvard University ($200,000), Acumen Fund ($150,000), and Chinmaya Mission New York ($100,000).
Grant Range
**: $4,500–$5,000
Average Grant
**: Approximately $29,673
How to Apply
Applications should be submitted by mail or email and should include official high school documentation (specific requirements available through the foundation's website or scholarship portal).
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Geographic Focus
Where this funder awards grants
The foundation funds initiatives across multiple U.S. locations including New York City (primary focus), Boston, Chicago, Austin, and other cities. International funding extends to London and India, with particular emphasis on India.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | Amount | Year |
|---|---|---|
| Total Assets | $68.0 million | 2023 |
| Total Assets | $42.3 million | 2024 |
| Total Revenue | $60.5 million | 2023 |
| Total Revenue | $4.2 million | 2024 |
| Total Expenses | $1.29 million | 2023 |
| Total Expenses | $1.57 million | 2024 |
| Total Liabilities | $10,400 | 2023 |
| Annual Giving | $1.1–$1.2 million | 2023–2024 |
The foundation has experienced significant growth, expanding from approximately $1.3 million in assets in 2020 to over $42 million by 2024. The organization operates with minimal administrative overhead, distributing nearly all expenses as charitable disbursements.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
203 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Sheila L. Sarma — President and Secretary (10 hours/week, no compensation)
- Karthik R. Sarma — Vice President and Treasurer (5 hours/week, no compensation)
The foundation operates with minimal paid staffing, relying on volunteer leadership.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| SHEILA L SARMA | PRESIDENT, SECRETARY | 10 | — |
| KARTHIK R SARMA | VICE PRESIDENT, TREASURER | 5 | — |
Contact Information
- Address: Florham Park, NJ; offices in New York City, NY
- Phone: 973-408-6700
- Email: info@srsfamilyfoundation.org
- Website: https://www.srsfamilyfoundation.org/
- Scholarship Applications: https://www.banyanscholarship.org/
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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