The Madan and Raksha M. Bhayana Family Foundation
Private foundation · North York, Ontario · BN 802834275RR0001 · Foundations
Source: T3010 return, FPE 2024-12-31. Split of total expenditures ($141,739) as filed with the CRA.
The Madan and Raksha M. Bhayana Family Foundation is a private foundation based in North York, Ontario, classified by the CRA under foundations. In its fiscal year ending December 31, 2024, it reported $273K in revenue and $142K in expenditures.
Its funding that year was roughly 34% from donations.
Compared with 2,689 grantmaking charities of similar size, its share of spending on mission — charitable programs plus grants to other charities — ranked above 28% of peers.
As a grantmaker, it reported gifts to 7 qualified donees totalling $95K in 2024, the largest being $60K to United Way of Greater Toronto. Its filed list of directors and trustees shows 4 names.
In its own words
To receive and maintain a fund or funds and to apply all or part of the principal and income therefrom from time to time to charitable organizations that are also registered charities under the income tax act ( canada ).
Ongoing-program description from its T3010 filing, verbatim.
The ledger, 2020–2024
| Year | Revenue | Spending | Programs | Fundraising | Gifts out | Net assets |
|---|---|---|---|---|---|---|
| 2024 | $273K | $142K | $8,518 | — | $95K | $3.7M |
| 2023 | $1.6M | $199K | $3,527 | — | $47K | $3.5M |
| 2022 | $354K | $315K | $5,458 | — | $53K | $2.2M |
| 2021 | $638K | $82K | — | — | $14K | $2.1M |
| 2020 | -$1.2M | $117K | — | — | $91K | $1.6M |
Revenue printed in red where the year ran a deficit. Fiscal years by period end.
Money between charities, 2024
Granted $95K to 7 qualified donees:
As reported on the donors’ own T3010 qualified-donee schedules.
Directors & trustees (2024)
Madan Bhayana (director); Raksha Bhayana (director); Samir Bhayana (director); Ninotchka Bhayana (director).
As listed on its 2024 return.
Check the source
Every figure on this page is from The Madan and Raksha M. Bhayana Family Foundation’s own T3010 filings, published by the Canada Revenue Agency. Verify against the CRA’s charities listing (search BN 802834275RR0001), or read how we compute the receipt.