INDIA HERITAGE RESEARCH FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1988

Legal Domicile

Principal Officer

ATUL K MASHRUWALA

Phone

5027448069

Tax Period

2023-01-01 to 2023-12-31

INDIA HERITAGE RESEARCH FOUNDATION, founded in 1988, is a micro nonprofit in the Religion sector that reported $56K in total revenue in fiscal year 2023. Revenue fell 59% from the prior year — a significant decline worth monitoring. Expenses of $74K exceeded revenue, resulting in a 32% operating deficit.

Mission

TO PROMOTE THE UNDERSTANDING OF INDIA'S CULTURAL TRADITIONS, UNIVERSAL UNDERSTANDING AND HARMONY; TO PUBLISH THE ENCYCLOPEDIA OF HINDUISM; TO ORGANIZE LECTURES AND SEMINARS ON VARIOUS ASPECTS OF INDIAN TRADITIONS; CHARITABLE ACTIVITIES AIMED AT ALLEVIATING HUMAN

Program Service Accomplishments

Program 1

RESEARCH, PRINTING AND PUBLICATION OF AN ENCYCLOPEDIA OF HINDUISM RELIGION AND CULTURE; ALSO, PROMOTING AN UNDERSTANDING OF HINDU RELIGIOUS TRADITION THROUGHOUT THE WORLD.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $18,083

Program Service Revenue $0

Investment Income $37,967

Other Revenue $0

TOTAL REVENUE $56,050

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $74,138

TOTAL EXPENSES $74,138

Year-over-Year Comparison

	2023	2022	Change
Revenue	$56,050	$137,466	-0.6%
Expenses	$74,138	$42,093	+0.8%
Net Income	$-18,088	$95,373	-1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SWAMI CHIDANAND SARASWATI	FOUNDER/CHAIRMAN	0.25	Officer	$0	$0	$0
HASU P SHAH	PRESIDENT	4.00	Officer	$0	$0	$0
DR NAVAL KANT MD	VICE PRESIDENT	0.30	Officer	$0	$0	$0
SADHVI BHAGAWATI SARASWATI	SECRETARY	25.00	Officer	$0	$0	$0
ATUL K MASHRUWALA	TREASURER	12.00	Officer	$0	$0	$0
REKHA MASHRUWALA	JOINT TREASURER	2.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$56,050	$74,138	$826,258	$-18,088
2022	$137,466	$42,093	$841,175	$95,373
2021	$73,415	$96,815	$909,353	$-23,400
2020	$15,205	$59,195	$969,664	$-43,990
2019	$212,466	$60,122	$1,013,654	$152,344
2018	$31,027	$50,767	$861,310	$-19,740