SRS Family Foundation Inc
SRS Family Foundation Inc is a private foundation based in New York, New York. It supports programming intended to help young people—particularly disadvantaged youth in New York City and around the world—live well-rounded and fulfilling lives, with a special focus on youth of South Asian origin and young people in India.
Key facts about SRS Family Foundation Inc
In short: SRS Family Foundation Inc gave $1.5M across 47 grants in 2024 (avg $32K), top state New York. Source: 2024 IRS Form 990-PF.
- EIN
- 47-2274823
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $1,517,740
- Grants made (2024)
- 47
- Average grant
- $32,292
- Median grant
- $5,000
- Total assets
- $42,335,068
- Primary geography
- New York (37% of itemized 2024 grant dollars)
- How to apply
- For the Banyan scholarship, applications are submitted by mail or email to Sheila L Sarma. Full details ↓
- Deadline
- Applications must be received by email by 12 a.m.
Data from IRS Form 990-PF, 2024; updated October 2026. Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$42.3M
-37.7% YoY
Annual Giving
$1.5M
+34.6% YoY
Grant Count
47
+23.7% YoY
Avg Grant Size
$32K
+8.8% YoY
Under IRS private-foundation payout rules, SRS Family Foundation Inc reported a distributable amount of $2.3M for 2024 — the minimum it must pay out in qualifying distributions.
How SRS Family Foundation Inc gives
- Giving grew 289% from 2021 to 2024. Method
- In 2024 it paid out 70% 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.
Mission & Focus Areas
The foundation’s stated mission is: “By empowering youth and maximizing opportunities for them to succeed, we empower our world.” Its stated areas of work include youth well-being programs, college scholarships, youth-focused research, and direct sponsorship of artists and musicians. The foundation describes supported programming such as after-school initiatives, spirituality in education, sports scholarships, mental health services, activism, and leadership development.
The foundation’s featured programs include the Banyan College Scholarship, which provides college support to eligible South Asian American students from low-income families in New York City; the website reports that 34 students had been selected since the scholarship was established in 2016, from more than 400 applicants. It also highlights programs working in areas such as youth mental health, arts education, spirituality in education, athletics, and social entrepreneurship.
Its 2024 grants included educational institutions and other organizations. Harvard College describes its work as undergraduate, graduate, and professional education and research; Princeton University describes its work as research and education; and Wellesley College describes its mission as providing a liberal arts education for women. Other recipients included Union Square Partnership, which says it works on economic growth and programming in the Union Square–14th Street neighborhood, and Mental Health Association Inc., which says it provides residential and support services for people affected by mental illness and other challenges.
Grantmaking
In 2024, the foundation reported 47 grants totaling $1,517,740. Grant amounts ranged from $200 to $361,459, with a median grant of $5,000. It reported 38 grants totaling $1,127,569 in 2023 and 39 grants totaling $312,955 in 2022.
Review Cycle
Applications must be received by email by 12 a.m. May 1, or postmarked by May 1 if mailed.
How to Apply
for the Banyan scholarship: candidates must submit an official high school transcript, standardized test scores, two recommendations from high school instructors, the most recently filed federal tax return for their parents and themselves if applicable, and an essay of no more than one page addressing their post-college aspirations and how college will help pursue them.
Ready to take the next step with SRS Family Foundation Inc?
Geographic Focus
Where this funder awards grants
The foundation says it focuses on programming for disadvantaged youth in New York City and across the globe, with special attention to youth of South Asian origin and those living in India. In 2024, 37% of grant dollars went to recipients in New York, 25% to Massachusetts, 7% to New Jersey, and 2% to California; the filing also lists an additional 29% under an unspecified recipient-state category.
Grant Distribution by State
Share of 2024 grant dollars across all 47 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $313K (2022) to $1.5M (2024). In 2024 it made 47 grants totaling $1.5M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Indian Institute of Technology ($361K). Together the top 10 received $1.2M.
Organizations only. It also paid 26 individual scholarships ($97,281), which are not listed by name.
Grant Size Distribution
203 grants across all recorded years
The most common grant size was under $50K: 180 grants of 203 (89%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Indian Institute of Technology | General Support | $361,459 |
| President and Fellows of Harvard College Cambridge, MA | General Support | $200,000 |
| Acumen Fund Inc New York, NY | General Support | $150,000 |
| Chinmaya Mission New York Woodbury, NY | General Support | $100,000 |
| The Trustees of Princeton University Princeton, NJ | General Support | $100,000 |
| Inst for Fin Management and Research | General Support | $75,000 |
| Wellesley College Wellesley, MA | General Support | $60,000 |
| Labhya USA Inc Topsfield, MA | General Support | $50,000 |
| Sakhi for South Asian Women New York, NY | General Support | $50,000 |
| Union Square Partnership New York, NY | General Support | $50,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Grants reported | Grant count |
|---|---|---|
| 2024 | $1,517,740 | 47 |
| 2023 | $1,127,569 | 38 |
| 2022 | $312,955 | 39 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $42,335,068 | $67,963,350 | $11,249,810 |
| Revenue | $4,187,863 | $60,519,836 | $2,114,094 |
| Expenses | $1,573,050 | $1,289,866 | $319,348 |
| Qualifying Distributions | $1,572,935 | $1,159,755 | $318,516 |
| Net Investment Income | $415,382 | $2,951,782 | $5,429,687 |
| Distributable Amount | $2,251,718 | $712,080 | $381,399 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS October 7, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 15, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS November 12, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 10, 2025)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Sheila L Sarma as president and secretary and Karthik R Sarma as vice president and treasurer.
SRS Family Foundation Inc is led by Sheila L. Sarma, President & Secretary on every filing since 2020; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Sheila L. Sarma
President & Secretary
On filings since 2020
10 hrs/week
No compensation reported
Karthik R. Sarma
Vice President & Treasurer
On filings since 2020
5 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Contact
Application contact: Sheila L Sarma
Mailing address: C/O Srs Inv Mgmt One Bryant Pk 39, FL, New York, NY 10036
Phone: (973) 408-6700
Email: raghavansheila@hotmail.com
Website: https://srsfamilyfoundation.org
Frequently asked questions about SRS Family Foundation Inc
How much does SRS Family Foundation Inc give each year?
SRS Family Foundation Inc gave $1.5M across 47 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $1.1M across 38 grants.
What is SRS Family Foundation Inc's typical grant size?
SRS Family Foundation Inc's median grant in 2024 was $5,000, and its average grant was $32,292, across 47 grants on its 2024 IRS Form 990-PF.
Where does SRS Family Foundation Inc give grants?
SRS Family Foundation Inc's top state is New York, with 37% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were Massachusetts (25%) and New Jersey (7%). The most frequent recipient cities were New York, NY (7 grants).
Does SRS Family Foundation Inc give general operating support?
Yes: 45% of SRS Family Foundation Inc's 2024 grants with a stated purpose (21 of 47) were for general or operating support, per its 2024 IRS Form 990-PF. Recurring purposes include "Scholarship" (26 grants).
Who are SRS Family Foundation Inc's largest grantees?
SRS Family Foundation Inc's largest 2024 grantees include Indian Institute of Technology ($361,459), President and Fellows of Harvard College ($200,000) and Acumen Fund Inc ($150,000), according to its 2024 IRS Form 990-PF. It also paid 26 individual scholarships ($97,281), which are not listed by name. Together they received 47% of its itemized 2024 grant dollars.
How large is SRS Family Foundation Inc?
SRS Family Foundation Inc reported $42.3M in total assets on its 2024 IRS Form 990-PF. It paid out $1.6M in qualifying distributions that year, against a required minimum of $2.3M (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 does SRS Family Foundation Inc fund?
The foundation’s stated mission is: “By empowering youth and maximizing opportunities for them to succeed, we empower our world.” Its stated areas of work include youth well-being programs, college scholarships, youth-focused research, and direct sponsorship of artists and musicians. See mission & focus areas ↑
How do I apply for a grant from SRS Family Foundation Inc?
For the Banyan scholarship, applications are submitted by mail or email to Sheila L Sarma. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is SRS Family Foundation Inc's EIN?
SRS Family Foundation Inc's EIN (Employer Identification Number) is 47-2274823. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Here's the math on researching SRS Family Foundation Inc by hand.
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