PEARL INITIATIVE INC

EIN: 454442459 Community Improvement

SCARSDALE, NY

Total Revenue
$936,869
Total Expenses
$1,139,629
Total Assets
$1,921,690
Net Assets
$1,615,306
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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
NY
Principal Officer
Pankaj Khatri
Tax Period
2023-01-01 to 2023-12-31

PEARL INITIATIVE INC, founded in 2010, is a small nonprofit in the Community Improvement sector that reported $937K in total revenue in fiscal year 2023. Expenses of $1.1M exceeded revenue, resulting in a 22% operating deficit.

Mission

Pearl Initiative is an association of persons having a common business interest in trade between the United States and the Arabian Gulf region and within the region. Pearl Initiatives purpose is to promote the common economic interests of all commercial enterprises with the U.S.-Arabian Gulf region trade community by dedicating itself to improving transparency, accountability and business practices with the community. The plan for Pearl Initiative has been developed in cooperationwith the United Nations Office for Partnerships and is recognized as a center of excellence at the American University of Sharjah. Pearl Initiative aims to improve business conditions for U.S. businesses interested or engaged in the region and regional businesses by creating a culture of greater transparency and accountability within the Arabian Gulf region, thereby fostering competitive economic growth and sustainable social development.

Program Service Accomplishments

Program 1
Expenses: $968,134 Revenue: $475,000

The Pearl Initiative (PI) is the Gulf Regions leading independent, private sector-led non-profit organisation working to improve corporate accountability and transparency across a number of themes...

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The Pearl Initiative (PI) is the Gulf Regions leading independent, private sector-led non-profit organisation working to improve corporate accountability and transparency across a number of themes, including Anti-Corruption Best Practices, Diversity in Business Leadership, Governance in MSMEs, Governance in Family Firms, Governance in Tech and Governance in Philanthropy. PI was established in 2010 by regional business leaders and the UN Office for Partnerships. PI is the first private non-profit organisation in the Gulf Region to receive special consultative status from the United Nations Economic and Social Council. In 2021, PI launched its updated strategy with bold ambitions for expansion over the next few years resulting in PI Vision 2025. PI runs programmes focusing on governance-related matters, conducts regionally-based research, convenes business leaders, government and civil society leaders and students to discuss challenges and opportunities in implementing best practices in the workforce. PI also runs workshops and training to support business professionals as they take the lead in implementing corporate governance, accountability and transparency practices in their organisations.With various regional and international partners, PI brings together business, policy and social sector decision-makers to share best practices and help maximise sustainable and inclusive growth across the Gulf Region. PI also supports Gulf-based university students to identify and embrace strong ethics and integrity as they embark on their future careers.For more information, please visit www.pearlinitiative.org and follow / subscribe to PIs Facebook, Twitter, LinkedIn, and YouTube channels by using the following handle @PearlInitiative.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $381,706
Program Service Revenue $475,000
Investment Income $80,163
Other Revenue $0
TOTAL REVENUE $936,869

Expense Breakdown

Grants Paid $0
Salaries & Benefits $884,640
Fundraising Expenses $0
Program Expenses $968,134
Other Expenses $254,989
TOTAL EXPENSES $1,139,629

Year-over-Year Comparison

2023 2022 Change
Revenue $936,869 $923,271 +0.0%
Expenses $1,139,629 $1,170,355 0.0%
Net Income $-202,760 $-247,084 -0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
16
Independent Members
16
Employees
7
Volunteers
1

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
2
$118,380
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Pankaj Khatri Head of Busines 40.00
Officer
$114,364 $4,016 $118,380
Abdullah Sweileh Director 0.50
Director
$0 $0 $0
MATHAD ALAJMI Director 0.50
Director
$0 $0 $0
SHEIKHA INTISAR AL SABAH Director 0.50
Director
$0 $0 $0
PERVEZ AKHTAR Director 0.50
Director
$0 $0 $0
AMIR DOSSAL Executive Comm. 5.00
Director
$0 $0 $0
HANI ASHKAR Director 0.50
Director
$0 $0 $0
BADR JAFAR Executive Comm. 5.00
Director
$0 $0 $0
Samer Said Khoury Director 0.50
Director
$0 $0 $0
Hamid Jafar Director 0.50
Director
$0 $0 $0
PATRICK CHALHOUB Director 0.50
Director
$0 $0 $0
Jamal Fakhro Chairman 0.50
Officer Director
$0 $0 $0
CAMPBELL M STEEDMAN Director 0.50
Director
$0 $0 $0
AYMAN TAMER Director 0.50
Director
$0 $0 $0
VAROUJ NERGUIZIAN Director 0.50
Director
$0 $0 $0
Sheikha Hanadi Bint Nasser Bin Director 0.50
Director
$0 $0 $0
AHMED AL JANAHI Director 0.50
Director
$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
2024 No data No data No data No data
2023 $936,869 $1,139,629 $1,921,690 $-202,760
2022 $923,271 $1,170,355 $2,058,110 $-247,084
2021 $661,891 $1,001,646 $2,134,359 $-339,755
2020 $825,151 $1,039,912 $2,602,368 $-214,761
2019 $1,613,782 $1,246,215 $2,868,341 $367,567
2018 $1,855,208 $1,316,757 $2,487,834 $538,451
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