SRS Family Foundation Inc
SRS Family Foundation Inc is a private foundation based in New York, New York. Its website says it was launched in late 2014 with the establishment of the Banyan College Scholarship. The foundation supports programs intended to benefit disadvantaged young people in New York City and around the world, with a special focus on young people of South Asian origin and those living in India.
SRS Family Foundation Inc at a glance
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.
- Annual giving (2024)
- $1,517,740
- +34.6% vs 2023
- Grants made (2024)
- 47
- +23.7% vs 2023
- Average grant
- $32,292
- +8.8% vs 2023
- Median grant
- $5,000
- Total assets
- $42,335,068
- -37.7% vs 2023
- Primary geography
- New York (37% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
How to apply to SRS Family Foundation Inc
- Review Cycle
- The filing instructions state that applications must be received by email by 12 a.m. May 1 or postmarked by May 1 if mailed.
- Deadline
- The filing instructions state that applications must be received by email by 12 a.m.
- 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
Website: https://srsfamilyfoundation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who SRS Family Foundation Inc funds
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%).
Geographic Focus
Where this funder awards grants
The foundation’s website says it focuses on disadvantaged youth in New York City and across the globe, with special attention to youth of South Asian origin and young people 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; a further 29% is listed with no identified state.
Grant Distribution by State
Share of 2024 grant dollars across all 47 itemized grants.
States
Cities
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.
Giving History
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.
Grants by year
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 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2024 | $42,335,068 | $4,187,863 | $1,573,050 | $1,517,740 | 47 | $1,572,935 | $415,382 | $2,251,718 |
| 2023 | $67,963,350 | $60,519,836 | $1,289,866 | $1,127,569 | 38 | $1,159,755 | $2,951,782 | $712,080 |
| 2022 | $11,249,810 | $2,114,094 | $319,348 | $312,955 | 39 | $318,516 | $5,429,687 | $381,399 |
| 2021 | $11,472,943 | $10,731,105 | $400,774 | $390,241 | 43 | $400,147 | — | $81,970 |
| 2020 | $1,309,706 | $6,949 | $430,197 | $421,356 | 36 | — | $6,262 | $77,323 |
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.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The foundation’s stated mission is, “By empowering youth and maximizing opportunities for them to succeed, we empower our world.” Its website describes funding after-school initiatives, spirituality in education, sports scholarships, mental health services, youth-focused research, and programs encouraging activism and leadership. It also describes plans for direct sponsorship of promising young Indian artists and musicians.
The 2024 grants included support for a range of organizations. Harvard describes its mission as providing education and conducting research across academic domains; Princeton describes its work as research and education; and Wellesley College says it provides a liberal arts education for women. Mental Health Association Inc. says it provides residential and support services for people affected by mental illness, developmental disabilities, substance abuse, homelessness, and other challenges. Union Square Partnership says it advocates for economic growth in its New York City neighborhood through programs including economic development, events, and education. Tides Center describes its work as fiscal sponsorship and operational, grantmaking, and capacity-building support for community-led organizations.
Grantmaking
In filing year 2024, the foundation reported 47 grants totaling $1,517,740. Grants ranged from $200 to $361,459, with a median of $5,000. In 2023, it reported 38 grants totaling $1,127,569. Its 2024 filing, the latest on this page, reports 47 grants totaling $1.5 million.
The largest reported 2024 grants included $361,459 to the Indian Institute of Technology for general support; $200,000 to President and Fellows of Harvard College; $150,000 to Acumen Fund Inc; $100,000 each to Chinmaya Mission New York and the Trustees of Princeton University; and $75,000 to the Institute for Financial Management and Research. Other notable grants were $60,000 to Wellesley College and $50,000 each to Labhya USA Inc, Sakhi for South Asian Women, Union Square Partnership, the Joan and Sanford I. Weill Department of Medicine, and Mental Health Association.
The Banyan College Scholarship is for low-income students of South Asian descent who are New York City residents attending local high schools. The foundation’s filing instructions say applications should be submitted by mail or email to Sheila L. Sarma. Required materials include an official high school transcript, standardized test scores, two recommendations from high school instructors, the most recently filed federal income tax returns for the parents and applicant if applicable, and an essay of no more than one page about the applicant’s aspirations after college and how college will help pursue them. Eligibility requirements include a GPA of at least 3.3, acceptance to an accredited four-year undergraduate college, U.S. citizenship, and annual household income below $75,000. The foundation says it does not restrict giving to preselected organizations.
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.
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.” See mission & focus areas ↑
How do I apply for a grant from SRS Family Foundation Inc?
SRS Family Foundation Inc has no public application process in the sources Grantable reviewed. Check srsfamilyfoundation.org for current guidelines, or contact the foundation directly before submitting a request.
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 October 2026.
Data update history
(6)
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
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Cite this profile
Grantable. (2026). SRS Family Foundation Inc funder profile. GrantGraph. Retrieved October 23, 2026, from https://grantable.co/funders/srs-family-foundation-inc-morg_564e849ce62540279000b3cc74c6e566
BibTeX
@misc{grantable_472274823_2026,
author = {{Grantable}},
title = {{SRS Family Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/srs-family-foundation-inc-morg_564e849ce62540279000b3cc74c6e566},
note = {Accessed 2026-10-23. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from SRS Family Foundation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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