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SRS Family Foundation Inc

Annual Giving
$1.1M
Grant Range
$2K - $0.0M

SRS Family Foundation Inc - Funder Overview

Quick Stats

  • Annual Giving: $1,127,569 (2023)
  • Assets: $42.3 million (2024)
  • Success Rate: Not publicly available
  • Decision Time: Not publicly available
  • Grant Range: Varies by program; average grant $29,673
  • Number of Grants: 38 awards (2023)
  • Geographic Focus: New York City (primary), national and international locations including Boston, Chicago, Austin, London, and India
  • Founded: Late 2014

Contact Details

Overview

The SRS Family Foundation Inc was established in late 2014 with the launch of the Banyan College Scholarship program. The foundation has experienced significant growth, expanding from approximately $1.3 million in assets in 2020 to $42.3 million by 2024. Led by President Sheila L. Sarma and Vice President Karthik R. Sarma, the foundation focuses on empowering disadvantaged youth through holistic well-being programs. The foundation maintains a special focus on uplifting youth of South Asian origin and those living in India, while also supporting youth development broadly in New York City and globally. In 2023, the foundation distributed 38 grants totaling over $1.1 million across various cities in the United States and internationally. The foundation operates with minimal administrative overhead, distributing nearly all expenses as charitable disbursements.

Funding Priorities

Grant Programs

Banyan College Scholarship Program

  • Award Amount: $2,000 - $10,000 per year (typically $5,000)
  • Renewable: Up to four years based on academic standing
  • Recipients: Up to five college-bound South Asian high school seniors annually
  • Application Method: Online through banyanscholarship.org
  • Application Window: Opens November 30, closes March 1

Youth Well-Being Empowerment Programs

  • After-school initiatives
  • Spiritual education integration
  • Sports scholarships for underserved youth
  • Mental health services
  • Youth activism and leadership development
  • Average Grant: $29,673 (based on 2023 data)

Youth-Focused Research

  • Research on knowledge gaps in youth development
  • Support for marginalized communities research
  • Social media activism studies
  • Research findings inform future funding decisions

Artist & Musician Sponsorship (Launched 2024)

  • Identifies promising young Indian artists and musicians
  • Funds travel to the United States
  • Career development events and opportunities

Priority Areas

The foundation funds organizations and programs that address:

  • Educational access and enrichment
  • Mental health awareness and support
  • Arts education and confidence-building
  • Athletic development and opportunity
  • Spiritual and moral development
  • Social entrepreneurship and leadership
  • Programs serving disadvantaged youth in New York City
  • Programs uplifting youth of South Asian origin globally

What They Don't Fund

Not explicitly stated on public materials. Review of grant patterns suggests focus is exclusively on youth-serving programs.

Governance and Leadership

Leadership Team:

  • Sheila L. Sarma - President and Secretary
  • Karthik R. Sarma - Vice President and Treasurer

Both officers serve without compensation.

Leadership Philosophy:

Sheila Sarma, president of the SRS Family Foundation, has stated: "We believe that by empowering youth and maximizing opportunities for them to succeed, we empower our world." The foundation emphasizes that "Every young person deserves to realize their potential and focus on their well-being in a holistic way."

Application Process & Timeline

How to Apply

For Organizational Grants:

The SRS Family Foundation does not have a public application process for organizational grants. The foundation employs a proactive, research-driven approach to identify potential partners and programs to support.

Interested organizations may reach out via email to info@srsfamilyfoundation.org to introduce their work, but grants are typically awarded through the foundation's own identification and evaluation process rather than through open applications.

For Banyan Scholarship (Individual Students):

  • Eligibility Requirements:

    • Reside in New York City and attend a local high school
    • Minimum GPA of 3.5 or higher
    • Currently accepted into an accredited four-year undergraduate college
    • U.S. citizen, permanent resident, or U.S. national
    • Of South Asian origin or descent
    • Annual family household income of $90,000 or lower
    • Demonstrate commitment to making a difference in their community

  • Application Method: Online application at banyanscholarship.org

  • Application Window: Opens November 30, closes March 1

  • Essay Required: Yes

  • Selection Criteria: Academic strength and demonstration of financial need

Getting on Their Radar

Since the foundation does not accept unsolicited grant applications, organizations seeking support should:

Research and Alignment: The foundation uses a data-driven evaluation process to "identify gaps in current programs and research opportunities." They work closely with partners to understand their "individual strategies, services, & impact" and seek to "strengthen partnerships and nurture collaboration."

Preferred Partner Characteristics: According to their giving approach, the foundation prioritizes "grassroots operations with interdisciplinary solutions that let young people lead." They seek partners working on the foundation's core focus areas: health, education, spirituality, and the arts for disadvantaged youth.

Contact Approach: Organizations whose work aligns with the foundation's mission may contact info@srsfamilyfoundation.org to introduce their programs and explore potential alignment.

Decision Timeline

Not publicly available. The foundation operates on a discretionary grantmaking timeline.

Success Rates

Not publicly available. The foundation made 38 grants in 2023 from a pool of undisclosed applicants/prospects.

Reapplication Policy

Not publicly disclosed.

Application Success Factors

Based on the foundation's stated giving approach and priorities, the following factors appear important:

Youth-Centered Leadership: The foundation explicitly values "grassroots operations with interdisciplinary solutions that let young people lead." Programs that place youth in leadership roles and decision-making positions align with their philosophy.

Holistic Well-Being Focus: The foundation's mission emphasizes holistic development. Successful programs likely address multiple dimensions of youth well-being rather than single-issue interventions. Their portfolio includes mental health, education, spirituality, athletics, and the arts.

Data-Driven Impact: The foundation states they "work closely with partners to understand their individual strategies, services, & impact." Organizations should be prepared to demonstrate measurable outcomes and clear evidence of effectiveness.

Serving Disadvantaged Youth: Priority is given to programs serving disadvantaged youth, particularly in New York City and those serving South Asian communities. Programs should clearly articulate how they reach underserved populations.

Interdisciplinary Approaches: The foundation values programs that integrate multiple approaches to youth development. For example, their interest in "introducing spirituality into education" and supporting arts alongside athletics suggests appreciation for innovative, cross-disciplinary models.

Research and Knowledge Building: The foundation funds research on youth development topics "to inform our future funding decisions." Organizations conducting research or using research-based approaches may have an advantage.

Collaborative Spirit: According to their giving philosophy, they seek to "strengthen partnerships and nurture collaboration," suggesting they value organizations willing to work cooperatively within broader ecosystems.

Key Takeaways for Grant Writers

  • No public application process - The foundation identifies and selects partners proactively; unsolicited proposals may be considered via email but grants are primarily discretionary
  • Youth empowerment is central - Programs must demonstrate how they enable young people to lead and make decisions, not just serve them as passive beneficiaries
  • Holistic approaches favored - Multi-dimensional programs addressing mental, physical, spiritual, and creative development align best with their mission
  • South Asian youth focus - While the foundation supports youth broadly, programs serving South Asian communities or those applicable to contexts in India receive special consideration
  • Data matters - Be prepared to demonstrate measurable impact and evidence-based strategies; the foundation uses research to inform decisions
  • Geographic priority on NYC - Programs serving disadvantaged youth in New York City appear to receive primary consideration, though they fund nationally and internationally
  • Average grant around $30,000 - With 38 grants totaling $1.1 million in 2023, most organizational grants likely fall in the $20,000-$40,000 range

References

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