Nonprofit · EIN 87-1315358
BANAI FOUNDATION
Tax-exempt · RESTON, VA 20191
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $0 | $429,240 | -$429,240 | $881,375 | $429,240 | $452,135 |
| December 31, 2024 | 990 | $0 | $92,040 | -$92,040 | $551,375 | $92,040 | $459,335 |
| December 31, 2023 | 990-EZ | $168,800 | $4,925 | $163,875 | $171,875 | – | $171,875 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $421,540
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $4,000
- Legal fees
- $1,500
- Travel
- $900
Balance sheet and other
- Total assets, start of year
- $881,375
- Total assets, end of year
- $881,375
- Total liabilities, end of year
- $429,240
- Net assets, end of year
- $452,135
- Net assets without donor restrictions
- $452,135
- Gross receipts
- $0
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2022
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Ali Banai | President Trustee or director | 10 | $0 |
| Mehdi Banai | Director Trustee or director | 25 | $0 |
990 for the year ended December 31, 2024: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Ali Banai | President Trustee or director | 10 | $0 |
| Mehdi Banai | Director Trustee or director | 25 | $0 |
990-EZ for the year ended December 31, 2023: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Ali Banai | President | 18 | $0 |
| Mehdi Banai | Director | 24 | $0 |
Address and contacts
- Address (IRS master file)
- 2341 BEDFORDSHIRE CIR, RESTON, VA 20191-1604
- In care of
- % ALI BANAI
- Mailing address (990-N for 2022)
- 2341 Bedfordshire Cir, Reston VA 20191
- Principal officer (990 for 2025)
- Ali Banai, 2341 Bedfordshire Cir, Reston, VA 20191
- Principal officer (990-N for 2022)
- Ali Banai, 2341 Bedfordshire Cir, Reston VA 20191
- Signed the 990
- Ali banai, President
- Phone
- (646) 706-6663
- Website
- www.banaifoundation.org
Mission
The Banai Foundations mission is to empower and support individuals through education community development and financial assistance. By providing scholarships grants and resources the foundation aims to create opportunities for personal and professional growth particularly for immigrants underserved communities and those in need of educational support.
Program accomplishments
- Our program offers vital health insurance coverage for two elderly couples who do not qualify for Medicaid and Medicare. This service ensures that these individuals have access to essential medical care and treatment safeguarding their well-being during their senior years. It addresses a critical gap in healthcare coverage for vulnerable populations promoting health and security in their later lives.grants $36,000
- The nonprofit provides critical support to refugee families by covering the costs of essential home repairs. This vital assistance ensures that these families can live safely and comfortably in their homes. The program focuses on repairing areas crucial for day-to-day living functions like kitchens bathrooms or bedrooms. By funding skilled contractors to rebuild and renovate these spaces the nonprofit directly enhances the quality of life for refugee families helping them maintain their homes in a dignified and functional condition.grants $300,050
- Lado International grant given on behalf of the banai foundation to help open english learning opportunity to families that are in the US.grants $50,000
- Provided rent for a family with 2 kids falling behind their rentgrants $7,200
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 87-1315358
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T50)
- Assets (IRS master file)
- $881,375
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $0 | $429,240 | $881,375 | XML |
| 990 | December 2024 | $0 | $92,040 | $551,375 | XML |
| 990-EZ | December 2023 | $168,800 | $4,925 | $171,875 | XML |
| 990-N for 2022 Officer: Ali Banai | December 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 87-1315358).
Questions about BANAI FOUNDATION
- What is the EIN of BANAI FOUNDATION?
- The employer identification number (EIN) of BANAI FOUNDATION is 87-1315358.
- Is BANAI FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to BANAI FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BANAI FOUNDATION file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of BANAI FOUNDATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BANAI FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of BANAI FOUNDATION?
- The 990 for the year ended December 31, 2025 names Ali Banai.
- Who are the officers and directors of BANAI FOUNDATION?
- The 990 for the year ended December 31, 2025 lists 2 people; 0 received compensation from the organization.
- How much revenue does BANAI FOUNDATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $0, expenses of $429,240 and total assets of $881,375 at year end.
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All nonprofits in RESTON · Virginia · Philanthropy, voluntarism and grantmaking foundations