Nonprofit · EIN 88-3146842
INVENT FOUNDATION
Tax-exempt · SCHAUMBURG, IL 60173
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $0 | $30,952 | -$30,952 | $933,889 | $0 | $933,889 |
| December 31, 2023 | 990 | $964,826 | $0 | $964,826 | $964,826 | $0 | $964,826 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
Balance sheet and other
- Total assets, start of year
- $964,826
- Total assets, end of year
- $933,889
- Total liabilities, end of year
- $0
- Net assets, end of year
- $933,889
- Gross receipts
- $0
- Employees
- 0
- Year formed
- 2022
- State of legal domicile
- IL
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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Abrahim Ali | President Trustee or director, Officer | 20 | $0 |
| Chirag Malik | Vice President Trustee or director, Officer | 18 | $0 |
990 for the year ended December 31, 2023: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Abrahim Ali | President Trustee or director, Officer | 20 | $0 |
| Chirag Malik | Vice President Trustee or director, Officer | 18 | $0 |
Address and contacts
- Address (IRS master file)
- 1030 NATIONAL PKWY, SCHAUMBURG, IL 60173-4519
- Principal officer (990 for 2024)
- Abraham Ali, 133 Highpoint Court, Bartlett, IL 60103
- Signed the 990
- Abraham Ali, Managing Member
- Return prepared by
- CCAPINC LLC
Mission
Organization was founded specifically to deliver meals to multiple charities. This would enable individuals under which the charity was formed to receive meals on a weekly or monthly basis.
Program accomplishments
- No activity
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 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 88-3146842
- 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
- 2023
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- International, foreign affairs and national security (Q71)
- Assets (IRS master file)
- $933,889
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $0 | $30,952 | $933,889 | XML |
| 990 | December 2023 | $964,826 | $0 | $964,826 | XML |
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 88-3146842).
Questions about INVENT FOUNDATION
- What is the EIN of INVENT FOUNDATION?
- The employer identification number (EIN) of INVENT FOUNDATION is 88-3146842.
- Is INVENT FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to INVENT FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INVENT FOUNDATION file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of INVENT FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INVENT FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of INVENT FOUNDATION?
- The 990 for the year ended December 31, 2024 names Abraham Ali.
- Who are the officers and directors of INVENT FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 2 people; 0 received compensation from the organization.
- How much revenue does INVENT FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $0, expenses of $30,952 and total assets of $933,889 at year end.
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