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Nonprofiteer
← AKANKSHA EDUCATION FUND INC

Form 990 for tax year 2023

Filed by AKANKSHA EDUCATION FUND INC.

Totals

Total revenue
$2,186,595
Total expenses
$2,473,631
Contributions and grants received
$2,224,113
Grants paid
$1,973,159
Program service revenue
$0
Investment income
$90,350
Other revenue
-$127,868
Total assets, end of year
$3,316,934
Total liabilities, end of year
$36,917
Net assets or fund balances, end of year
$3,280,017
Program services expenses (Part IX)
$2,128,135
Management and general expenses
$189,913
Fundraising expenses
$155,583
Program service expenses (Part III)
$2,128,135

Program services were 86.0% 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.

  • 1c · Fundraising events

    $785,856

  • 1e · Government grants (contributions)

    $24,755

  • 1f · All other contributions, gifts and grants

    $1,413,502

  • 1g · Noncash contributions included above

    $15,869

  • 3 · Investment income

    total $83,113 · excluded $83,113

  • 7a · Gross sales of assets other than inventory

    securities $1,738,532

  • 7b · Less cost or other basis and sales expenses

    securities $1,731,295

  • 7c · Gain or loss

    securities $7,237

  • 7d · Net gain or loss

    total $7,237 · excluded $7,237

  • 8a · Fundraising events: gross income

    $43,200

  • 8a · Fundraising events: contributions included on line 1c

    $785,856

  • 8b · Fundraising events: direct expenses

    $171,068

  • 8c · Net income from fundraising events

    total -$127,868 · excluded -$127,868

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $57,500 · program services $57,500

  • 3 · Grants to foreign organizations and individuals

    total $1,915,659 · program services $1,915,659

  • 5 · Compensation of officers, directors and key employees

    total $177,599 · program services $90,575 · management and general $41,746 · fundraising $45,278

  • 7 · Other salaries and wages

    total $96,894 · program services $51,655 · management and general $19,095 · fundraising $26,144

  • 8 · Pension plan contributions

    total $4,893 · program services $4,893

  • 9 · Other employee benefits

    total $1,071 · management and general $1,071

  • 10 · Payroll taxes

    total $21,344 · program services $2,293 · management and general $6,545 · fundraising $12,506

  • 11c · Fees: accounting

    total $60,245 · management and general $60,245

  • 11g · Fees: other

    total $75,983 · management and general $34,370 · fundraising $41,613

  • 12 · Advertising and promotion

    total $350 · fundraising $350

  • 13 · Office expenses

    total $25,694 · management and general $7,214 · fundraising $18,480

  • 14 · Information technology

    total $9,748 · management and general $8,483 · fundraising $1,265

  • 17 · Travel

    total $17,905 · program services $5,560 · management and general $3,506 · fundraising $8,839

  • 23 · Insurance

    total $1,394 · management and general $420 · fundraising $974

  • 24a · Other expenses: PROFESSIONAL DEVELOPMEN

    total $7,218 · management and general $7,218

  • 24b · Other expenses: MISCELLANEOUS EXPENSES

    total $134 · fundraising $134

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $139,766 · end of year $109,195

  • 2 · Savings and temporary cash investments

    beginning of year $2,253,580 · end of year $235,424

  • 3 · Pledges and grants receivable

    beginning of year $1,161,716 · end of year $1,222,665

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,389 · end of year $1,101

  • 11 · Investments: publicly traded securities

    beginning of year $10,017 · end of year $1,748,549

  • 15 · Other assets

    beginning of year $23,683 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,039 · end of year $36,917

  • 27 · Net assets without donor restrictions

    beginning of year $2,385,255 · end of year $2,057,902

  • 28 · Net assets with donor restrictions

    beginning of year $1,184,857 · end of year $1,222,115

Mission and programs · 2023

Mission

TO SUPPORT EDUCATIONAL OPPORTUNITIES FOR UNDERDESERVED CHILDREN IN INDIA, AND RAISING SUPPORT FOR AND AWARENESS OF SUCH ACTIVITIES IN THE UNITED STATES.

Activities or mission (Part I)

TO SUPPORT EDUCATIONAL OPPORTUNITIES FOR UNDERDESERVED CHILDREN IN INDIA, AND RAISING SUPPORT FOR AND AWARENESS OF SUCH ACTIVITIES IN THE UNITED STATES. THROUGH ITS ACTIVITIES, AKANKSHA EDUCATION FUND INC. ENABLES SOME OF THE MOST MARGINALIZED CHILDREN IN THE WORLD TO MAXIMIZE THEIR POTENTIAL AND TRANSFORM THEIR LIVES.

  • AKANKSHA EDUCATION FUND IS A NON-PROFIT ORGANIZATION WITH A MISSION TO PROVIDE CHILDREN FROM LOW-INCOME COMMUNITIES WITH A HIGH-QUALITY EDUCATION, ENABLING THEM TO MAXIMIZE THEIR POTENTIAL AND TRANSFORM THEIR LIVES. FOR OVER 30 YEARS, AKANKSHA HAS EDUCATED CHILDREN FROM LOW-INCOME COMMUNITIES ACROSS MUMBAI AND PUNE FIRST, THROUGH THEIR AFTER-SCHOOL CENTERS, AND SINCE 2007, THROUGH THE SCHOOL PROJECT. CURRENTLY, 'THE SCHOOL PROJECT' OPERATES 26 SCHOOLS, SERVING APPROXIMATELY 14,000 CHILDREN AND 5,100 ALUMNI. LOOKING AHEAD, THEY SEEK TO EXPAND THEIR NETWORK OF SCHOOLS, SHARE THEIR EFFECTIVE PRACTICES AND ADVOCATE FOR QUALITY SCHOOL REFORM FOR CHILDREN ACROSS INDIA. AKANKSHA EDUCATION FUND SUPPORTS ALUMNI FROM THE AKANKSHA FOUNDATION FUNDED SCHOOLS PURSUING HIGHER EDUCATION IN THE UNITED STATES. SERVICES INCLUDE MENTORING, CAREER GUIDANCE AND ACCESS TO REMOTE HOST FAMILIES.

    Expenses $2,128,135 · Grants $1,973,159

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • SHANKAR IYER

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • BHARTI MALKANI

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • KATE SHOEMAKER

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • FALGUNI MALKANI

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • NYMRATA ADVANI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • REENA BATRA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LORIE BROSER

    DIRECTOR THRU 4/23

    Total calculated
    $0
    Hours/week
    1

  • PULKESHI JAPE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SACHIN JINDAL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NATHALIE JOSEPH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MADDY KULKARNI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RUYINTAN MEHTA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANJALI MELWANI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AMIR MIRZA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MEDHA PRAKASH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SRIVIDYA PRAKASH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SARAH H ROBERTS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RAMESH SRINIVASAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SEJAL DESAI

    EXECUTIVE DIRECTOR

    Total calculated
    $175,256
    From this org
    $165,637
    From related orgs
    $0
    Other
    $9,619
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,637
    Bonus
    $0
    Other
    $0
    Deferred
    $9,619
    Nontaxable benefits
    $0
    Filer's total
    $175,256

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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 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

Provenance

Return type
form_990
Tax year
2023
Filed
24 December 2024
IRS schema version
2023v5.1
Source object
202403599349300200

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