Amar Inc-Infinity Foundation in Phoenix, Arizona (AZ)

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Amar Inc-Infinity Foundation
Employer Identification Number (EIN)742842083
Name of OrganizationAmar Inc-Infinity Foundation
In Care of NameSiri Karm Khalsa
Address5025 N Central Ave 471, Phoenix, AZ 85012-1520
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code, Gifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date11/1998
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2010
Assets$50,000,000 to greater
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$105,339,948
Amount of Income$1,956,702
Form 990 Revenue Amount$1,782,894
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2010: $1,956,702
This organization: 

 $1,956,702
Other organizations performing similar types of work: 

 $105,489

Assets in 2010: $105,339,948
This organization: 

 $105,339,948
Other organizations performing similar types of work: 

 $325,460

Expenses in 2006: $1,818,387
This organization: 

 $1,818,387
Other organizations performing similar types of work: 

 $49,058

Income to expenses ratio in 2006: 3.5
This organization: 

 3.5
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2006: 78.9%
Amar Inc-Infinity Foundation: 

 78.9%
Other organizations performing similar types of work: 

 81.7%

Employees paid over $50,000 in 2006: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 16.2%

Grants share in income in 2006: 62.2%
This organization: 

 62.2%
Other organizations performing similar types of work: 

 22.8%

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Expenses for 2006

Functional Expenses for 2006 ($)

Income-Producing Activities for 2006

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20022003200420052006
Total revenue$6,953,625$61,562,202$39,779,013$27,382,172$6,295,549
Contributions, gifts, grants, and similar amounts received$6,282,636$60,054,817$24,603,946$13,155,268$3,912,928
Contributions to donor advised funds$345,000
Direct public support$6,282,636$60,054,817$24,603,946$13,155,268$3,567,928
Indirect public support$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0
Program service revenue including government fees and contracts$278,088$0$0$0$0
Membership dues and assessments$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$1,873$5,353$55,735
Dividends and interest from securities$0$0$319$354$380
Net rental income or (loss)$0$0$0$0$0
Gross rents$0$0$0$0$0
Less: rental expenses$0$0$0$0$0
Other investment income$11,496$4,140$0$45,396$114,207
Gain or (loss) from sales of assets other than inventory$0$3,825$0$0$184,168
Gross amount from sales of assets other than inventory$0$70,000$0$0$493,862
Less: cost or other basis and sales expenses$0$66,175$0$0$309,694
Net income or (loss) from special events and activities$547$3,305$17,573$-45,743$29,378
Gross revenue$21,957$33,332$61,368$93,167$171,450
Less: direct expenses other than fundraising expenses$21,410$30,027$43,795$138,910$142,072
Gross profit or (loss) from sales of inventory$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0
Other revenue$380,858$1,496,115$15,155,302$14,221,544$1,998,753
Total expenses$1,680,687$2,601,206$1,218,337$2,334,733$1,818,387
Program services$1,511,485$2,541,361$1,142,195$2,145,696$1,433,888
Management and general$75,942$38,145$76,142$189,037$329,125
Fundraising$93,260$21,700$0$0$55,374
Payments to affiliates$0$0$0$0$0
Net assets or fund balances at end of year$11,361,933$70,785,982$109,540,944$134,696,394$140,043,505
Excess or (deficit) for the year$5,272,938$58,960,996$38,560,676$25,047,439$4,477,162
Net assets or fund balances at beginning of year$6,088,995$11,361,933$70,785,982$109,540,944$134,696,394
Other changes in net assets or fund balances$0$463,053$194,286$108,011$869,949
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,818,387$1,433,888$329,125$55,374
Grants paid from donor advised funds$0
Other grants and allocations$1,350,077
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$40,750$24,450$16,300$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$47,751$7,751$20,000$20,000
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$7,297$2,297$2,500$2,500
Payroll taxes$6,747$2,455$2,767$1,525
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$7,390$5,173$739$1,478
Postage and shipping$1,300$520$260$520
Occupancy$28,955$17,373$5,791$5,791
Equipment rental and maintenance$0$0$0$0
Printing and publications$1,861$745$372$744
Travel$7,026$4,679$0$2,347
Conferences, conventions, and meetings$2,004$1,104$450$450
Interest$0$0$0$0
Depreciation, depletion, etc.$8,141$0$8,141$0
Other expenses not covered above$309,088$17,264$271,805$20,019
Balance Sheets
20022003200420052006
Total assets$11,361,933$70,814,482$109,540,944$134,701,217$140,043,553
Cash - non-interest-bearing$118,944$80,225$192,893$437,275$1,402,790
Savings and temporary cash investments$0$0$0$84,298$1,118,411
Accounts receivable less allowance for doubtful accounts$0$0$0$18,175$39,629
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0
Grants receivable$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$487,443
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$57,507$38,381$0$929,643$1,539,529
Inventories for sale or use$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0
Investments - publicly-traded securities$1,942,263
Investments - other securities$283,791$176,096$199,825$1,945,892$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$2,356$0
Investments - other$10,807,531$70,425,623$109,091,731$131,107,593$132,781,023
Land, buildings, and equipment less accumulated depreciation$0$0$0$108,760$100,997
Other assets, including program-related investments$94,160$94,157$56,495$67,225$631,468
Total liabilities$0$28,500$0$4,823$48
Accounts payable and accrued expenses$0$0$0$4,823$48
Grants payable$0$0$0$0$0
Deferred revenue$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0
Other liabilities$0$28,500$0$0$0
Total liabilities and net assets/fund balances$11,361,933$70,814,482$109,540,944$134,701,217$140,043,553
Total net assets or fund balances$11,361,933$70,785,982$109,540,944$134,696,394$140,043,505
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20022003200420052006
Total revenue$6,953,625$61,562,202$39,779,013$27,382,172$6,295,549
Total revenue, gains, and other support per audited financial statements$6,953,625$61,562,202$39,779,013$27,382,172$6,295,549
Other expenses$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0
Other$0$0$0$0$0
Other revenue$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20022003200420052006
Total expenses$1,680,687$2,601,206$1,218,337$2,334,733$1,818,387
Total expenses and losses per audited financial statements$1,680,687$2,601,206$1,218,337$2,334,733$1,818,387
Other revenue$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Prior year adjustments$0$0$0$0$0
Losses$0$0$0$0$0
Other$0$0$0$0$0
Other expenses$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings10
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20063
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$2,382,621$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$55,735$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$380$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$114,207$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$184,168$0
Net income or (loss) from special events000000$0Income from the sale of merchandise, substantially all of which (at least 85%) was donated to the organization (section 513(a)(3))$29,378$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$1,998,753$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
33083321098%$1,701,892$26,014,667
20007805398%$-6,137,699$22,452,663
33093990296%$5,577,229$21,423,379
20007789998%$1,231,557$17,007,373
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2006)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$2
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$343,750
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$5
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$21,679,793
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
20012002200320042005
Total$3,116,710$6,953,625$31,358,200$24,459,420$24,234,430
Gifts, grants, and contributions received$3,106,590$6,282,636$29,850,815$9,253,960$10,007,526
Membership fees received$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$278,088$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$10,120$11,496$4,140$2,192$51,103
Net income from unrelated business activities not included above$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0
Other income$0$381,405$1,503,245$15,203,268$14,175,801
Lobbying Expenditures by Electing Public Charities (for 2006)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Number of organizations performing similar types of work
Alaska25
Alabama219
Arkansas78
Arizona303
California2,586
Colorado408
Connecticut419
District of Columbia111
Delaware583
Florida1,525
Georgia481
Hawaii85
Iowa178
Idaho58
Illinois1,113
Indiana311
Kansas157
Kentucky167
Louisiana161
Massachusetts705
Maryland425
Maine85
Michigan619
Minnesota384
Missouri346
Mississippi70
Montana69
North Carolina788
North Dakota20
Nebraska169
New Hampshire75
New Jersey876
New Mexico92
Nevada215
New York2,617
Ohio698
Oklahoma228
Oregon208
Pennsylvania1,086
Rhode Island184
South Carolina171
South Dakota32
Tennessee266
Texas1,263
Utah274
Virginia477
Vermont54
Washington401
Wisconsin354
West Virginia69
Wyoming63
International44
Total22,395

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