Totals
- Total revenue
- $571,500
- Total expenses
- $1,609,131
- Contributions and grants received
- $571,500
- Grants paid
- $88,143
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $1,625,590
- Total liabilities, end of year
- $145,293
- Net assets or fund balances, end of year
- $1,480,297
- Program services expenses (Part IX)
- $1,473,607
- Management and general expenses
- $135,524
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,473,607
Program services were 91.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$571,500
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $388 · program services $388
-
3 · Grants to foreign organizations and individuals
total $87,755 · program services $87,755
-
5 · Compensation of officers, directors and key employees
total $254,522 · program services $237,577 · management and general $16,945
-
7 · Other salaries and wages
total $645,654 · program services $602,670 · management and general $42,984
-
9 · Other employee benefits
total $48,059 · program services $44,859 · management and general $3,200
-
10 · Payroll taxes
total $61,156 · program services $57,085 · management and general $4,071
-
11b · Fees: legal
total $4,000 · management and general $4,000
-
11c · Fees: accounting
total $16,640 · management and general $16,640
-
11g · Fees: other
total $52,600 · program services $50,922 · management and general $1,678
-
12 · Advertising and promotion
total $24,812 · program services $24,812
-
13 · Office expenses
total $15,398 · program services $14,093 · management and general $1,305
-
14 · Information technology
total $108,584 · program services $108,584
-
16 · Occupancy
total $61,880 · program services $55,692 · management and general $6,188
-
17 · Travel
total $17,194 · program services $17,194
-
19 · Conferences, conventions and meetings
total $327 · program services $327
-
20 · Interest
total $4,429 · management and general $4,429
-
22 · Depreciation, depletion and amortization
total $28,025 · management and general $28,025
-
23 · Insurance
total $4,826 · management and general $4,826
-
24a · Other expenses: Pledge Writedown
total $150,000 · program services $150,000
-
24b · Other expenses: Staff Events
total $19,087 · program services $19,087
-
24c · Other expenses: Miscellaneous Expense
total $3,795 · program services $2,562 · management and general $1,233
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $624,563 · end of year $590,623
-
3 · Pledges and grants receivable
beginning of year $1,963,503 · end of year $886,967
-
9 · Prepaid expenses and deferred charges
beginning of year $22,321 · end of year $21,945
-
14 · Intangible assets
beginning of year $0 · end of year $126,055
-
17 · Accounts payable and accrued expenses
beginning of year $15,923 · end of year $19,238
-
25 · Other liabilities
beginning of year $0 · end of year $126,055
-
27 · Net assets without donor restrictions
beginning of year $544,464 · end of year $593,330
-
28 · Net assets with donor restrictions
beginning of year $2,050,000 · end of year $886,967
Mission and programs · 2023
Mission
To prepare low-income, first-generation college students worldwide to be leaders in their communities and reach their full potential through a fully funded leadership development programs.
-
Aspire Leaders Program (ALP): Candidates for the program receive a host of academic and professional development resources through a tiered application structure that reaches thousands of students globally. In 2023 Aspire reached students across 180 countries and accepted over 51,000 applications from all over the globe. Students access source materials designed by Harvard faculty, receive feedback, connect with peers, and interact with faculty and one another as they develop their individual leadership skills to make an impact in their local communities. Leaders of Tomorrow: Scholarships: Participants who complete the ALP are eligible for scholarships for up to $1,000 USD purchasing power parity per qualifying finalist. Two types of scholarships: online academic or professional development. Community Action Awards: Funding for local community projects dedicated to catalyzing high-impact ideas. Up to nine awards, each up to $10,000 USD purchasing power parity. Project teams must have a domestic partner organization equivalent to a fiscal sponsor that provides the administrative support to the participant for the one year project duration.Mentorship Opportunities: Access to mentorship opportunities from industry leaders across the world for finalists. Mentors have offered to provide advice on professional career growth, job searches, interviews, graduate school application, etc.
Expenses $1,473,607 · Grants $88,143
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Tarun Khanna
President
- Total calculated
- $0
- Hours/week
- 5
-
Karim Lakhani
Treasurer
- Total calculated
- $0
- Hours/week
- 5
-
Meena Sonea Hewett
Executive Director & Clerk
- Total calculated
- $198,972
- From this org
- $175,000
- From related orgs
- $0
- Other
- $23,972
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $175,000
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $23,972
- Filer's total
- $198,972
-
Arthur Hunt
Finance Officer
- Total calculated
- $55,550
- From this org
- $55,550
- From related orgs
- $0
- Other
- $0
- Hours/week
- 20
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202411369349300241
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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