Varanasi Family Foundation

Private foundation · Grantmaker Wilmington, DE EIN: 85-1620462

Varanasi Family Foundation is a private foundation, based in Wilmington, DE. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $1.5M in total assets. In 2024, it awarded 2 grants totaling $13K. Net investment income was $531K.

Key facts about Varanasi Family Foundation

In short: Varanasi Family Foundation gave $13K across 2 grants in 2024 (avg $6K), mostly in Georgia. Source: 2024 IRS Form 990-PF.

EIN
85-1620462
Latest 990 filing
Form 990-PF, 2024
Annual giving (2024)
$12,500
Grants made (2024)
2
Average grant
$6,250
Median grant
$6,250
Total assets
$1,483,591
Primary geography
Georgia (80% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$1.5M

+36.0% YoY

Annual Giving

$13K

+400.0% YoY

Grant Count

2

+100.0% YoY

Avg Grant Size

$6K

+150.0% YoY

Under IRS private-foundation payout rules, Varanasi Family Foundation reported a distributable amount of $62K for 2024 — the minimum it must pay out in qualifying distributions.

How Varanasi Family Foundation gives

  • In 2024 it paid out 43% 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.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

3states

Share of 2024 grant dollars across all 2 itemized grants.

Cities

LehiAtlantaCibolo

Giving Over Time

Total grant dollars and number of grants per year

$0$5K$10K$15K0 grants2021 1 grant2022 1 grant2023 2 grants2024

From 2022 to 2024, annual grant giving ranged from $3K (2023) to $13K (2024). In 2024 it made 2 grants totaling $13K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 2 recipients in 2024

National Black Womens Health Project Inc: $10KNational Black Womens HealthProject Inc$10KVillage Book Builders Inc: $3KVillage Book Builders Inc$3K

The largest 2024 recipient was National Black Womens Health Project Inc ($10K). Together the top 2 received $13K.

Grant Size Distribution

4 grants across all recorded years

4<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 4 grants of 4 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
National Black Womens Health Project Inc Atlanta, GAGeneral & Unrestricted$10,000
Village Book Builders Inc Lehi, UTGeneral & Unrestricted$2,500

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$200K$400K$600K2021 2022 2023 2024
Metric202420232022
Total Assets$1,483,591$1,090,840$689,424
Revenue$425,611$417,048$135,881
Expenses$32,860$15,632$22,794
Qualifying Distributions$26,212$14,127$19,096
Net Investment Income$531,150$91,433$8,015
Distributable Amount$61,613$36,143$26,164

Data update history

When this profile's IRS filing data changed on Grantable

  1. IRS filings on file for fiscal years 2021–2024

Leadership & Key People

Officers and directors from IRS filings

Varanasi Family Foundation is led by Sai Varanasi, Co- President, Director & Treasurer on every filing since 2021; none of the 2 officers listed in 2024 report compensation.

Officers on the 2024 filing

  • Sai Varanasi

    Co- President, Director & Treasurer

    On filings since 2021

    1 hr/week

    No compensation reported

  • Theresa Varanasi

    Co- President, Director & Secretary

    On filings since 2021

    1 hr/week

    No compensation reported

Data from IRS Form 990 filings, 2021–2024. "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 Varanasi Family Foundation

How much does Varanasi Family Foundation give each year?

Varanasi Family Foundation gave $13K across 2 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $3K across 1 grant.

How large is Varanasi Family Foundation?

Varanasi Family Foundation reported $1.5M in total assets on its 2024 IRS Form 990-PF. It paid out $26K in qualifying distributions that year, against a required minimum of $62K (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.

Where does Varanasi Family Foundation operate?

Varanasi Family Foundation has awarded grants in Georgia, Texas, Utah.

What is Varanasi Family Foundation's EIN?

Varanasi Family Foundation's EIN (Employer Identification Number) is 85-1620462. IRS Form 990 filing data is available on this page for 2021–2024.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

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