2024-02-08T11:07:40-06:00 2023-03-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2022-04-01 133976569 AKANKSHA EDUCATION FUND INC AKAN 9179306515 PO BOX 2038 NEW YORK NY 10113 FALGUNI MALKANI TREASURER 9179306515 2024-02-08 1 FALGUNI MALKANI XXX-XX-XXXX 1 EVA MRUK P00543254 9143818900 2024-02-05 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z RAMESH SRINIVASAN PO BOX 2038 NEW YORK NY 10113 2699882 0 X WWW.AKANKSHAFUND.ORG X 1996 NY 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. 14 14 4 14 0 0 2857995 2565148 0 0 -1591 23333 -5864 -8372 2850540 2580109 1700082 1480171 0 0 325461 271412 0 0 148835 96938 146389 2122481 1897972 728059 682137 2904487 3590151 16512 20039 2887975 3570112 TO SUPPORT EDUCATIONAL OPPORTUNITIES FOR UNDERDESERVED CHILDREN IN INDIA, AND RAISING SUPPORT FOR AND AWARENESS OF SUCH ACTIVITIES IN THE UNITED STATES. 0 0 1564515 1480171 0 AKANKSHA EDUCATION FOUNDATION 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. TODAY, THEY ARE ONE OF THE LARGEST URBAN NETWORKS OF PUBLIC-PRIVATE PARTNERSHIP SCHOOLS OF ITS KIND IN INDIA. CURRENTLY, THE FOUNDATION OPERATES 26 SCHOOLS, SERVING APPROXIMATELY 13,000 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. 1564515 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA FL IL MA NJ NY NC PA UT X X X FALGUNI MALKANI 2123621943 120 EAST 29TH ST 1C NEW YORK NY 10016 SHANKAR IYER PRESIDENT 5.00 X X 0 0 0 BHARTI MALKANI VICE PRESIDENT 2.00 X X 0 0 0 KATE SHOEMAKER SECRETARY 2.00 X X 0 0 0 FALGUNI MALKANI TREASURER 5.00 X X 0 0 0 NYMRATA ADVANI DIRECTOR 1.00 X 0 0 0 LORIE BROSER DIRECTOR 1.00 X 0 0 0 SACHIN JINDAL DIRECTOR 1.00 X 0 0 0 NATHALIE JOSEPH DIRECTOR 1.00 X 0 0 0 RUYINTAN MEHTA DIRECTOR 1.00 X 0 0 0 AMIR MIRZA DIRECTOR 1.00 X 0 0 0 MEDHA PRAKASH DIRECTOR 1.00 X 0 0 0 SRIVIDYA PRAKASH DIRECTOR 1.00 X 0 0 0 SARAH H ROBERTS DIRECTOR 1.00 X 0 0 0 RAMESH SRINIVASAN DIRECTOR 1.00 X 0 0 0 SEJAL DESAI EXECUTIVE DIRECTOR 40.00 X 158487 0 7233 158487 0 7233 1 0 1 0 0 465421 2099727 2565148 24010 24010 110724 111401 -677 -677 -677 0 465421 8372 -8372 -8372 2580109 0 0 14961 235000 235000 1245171 1245171 169269 33854 33854 101561 80570 42538 23320 14712 1826 1826 917 917 18830 2024 5771 11035 44400 44400 53692 365 51337 1990 21495 12 12521 8962 8249 5720 2529 17703 3725 5932 8046 850 850 1897972 1564515 184622 148835 241050 139766 1778550 2253580 883063 1161716 1824 1389 10017 0 23683 2904487 3590151 16512 20039 16512 20039 X 1872469 2385255 1015506 1184857 2887975 3570112 2904487 3590151 682137 0 X X 0 1 X 1 0 X 2352406 1738623 1657367 2857995 2565148 11171539 2352406 1738623 1657367 2857995 2565148 11171539 2747216 8424323 19577 31934 4182 843 24010 80546 11252085 0.74870 0.75870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 2590379 0 2590379 -10270 -10270 2580109 1908242 10270 10270 1897972 0 1897972 PART X, LINE 2: THE FUND RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE FUND HAD NO UNCERTAIN POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE FUND IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIOD PRIOR TO 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: MISCELLANEOUS ADJUSTMENT TO PART VIII, LINE 1H -10,270. PART XII, LINE 2D - OTHER ADJUSTMENTS: MISCELLANEOUS ADJUSTMENT TO PART VIII, LINE 1H 10,270. 1 SOUTH ASIA 0 0 GRANTMAKING 1245171 0 0 0 0 0 0 1245171 0 1245171 SOUTH ASIA SUPPORT FOR THE GRANTEE'S EDUCATIONAL PROGRAMS 1245171 WIRE 0 1 0 0 0 0 0 0 0 PART I, LINE 2: THE FUND'S PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS OUTSIDE OF THE UNITED STATES BEGIN BEFORE A GRANT IS APPROVED. PROPOSED GRANTS ARE REVIEWED BY FUND OFFICERS AND THE FUND BOARD BOTH INFORMALLY IN DIALOGUE WITH OFFICIALS OF THE RECIPIENT AND BY MEANS OF A FORMAL GRANT APPLICATION/GRANT AGREEMENT PROCESS. UNDER THE GRANT APPLICATION, SPECIFIC USES FOR THE FUNDS SOUGHT ARE DISCLOSED, AND SUCH USES ARE FURTHER RESTRICTED UNDER THE GRANT AGREEMENT IN ORDER TO REQUIRE CHARITABLE USE UNDER U.S. STANDARDS. THE GRANT AGREEMENT, AMONG OTHER THINGS, ALSO REQUIRES DETAILED PERIODIC REPORTING FROM THE RECIPIENT TO THE FUND ON THE ACTUAL USE OF THE GRANT FUNDS AND OTHER RELATED MATTERS, AUTHORIZES ACCESS BY THE FUND TO THE RECIPIENT'S RELEVANT BOOKS AND RECORDS TO VERIFY COMPLIANCE WITH THE GRANT AGREEMENT, AUTHORIZES THE FUND TO DISCONTINUE FUNDING UPON ANY NON-CHARITABLE USE AND OBLIGATES THE RECIPIENT TO RETURN TO THE FUND THE AMOUNT OF ANY GRANT NOT PROPERLY APPLIED. THESE PROCEDURES ARE BACKED UP BY REGULAR DIALOGUE (BY CORRESPONDENCE, TELEPHONE AND IN PERSON) BETWEEN THE FUND AND OFFICIALS OF THE RECIPIENT, AS WELL AS BY FUND SUPERVISORY VISITS TO OFFICES AND OPERATIONAL SITES OF THE RECIPIENT. PART I, LINE 3: THE GRANT EXPENSES REPORTED IN PART I, LINE 3 AND PART II ARE ACCOUNTED FOR USING THE ACCRUAL METHOD OF ACCOUNTING IN CONFORMITY WITH THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES AUDITED FINANCIAL STATEMENTS. PART III ACCOUNTING METHOD: STRONGER TOGETHER + IGD 418729 418729 5600 12 GALA 46692 46692 1175 299 2 1087 199 465421 465421 7862 510 8372 -8372 1 AAM FOUNDATION USA 7110 REDWOOD BOULEVARD SUITE A NOVATO CA 94945 943352261 501(C)(3) 200000 0 TO SUPPORT THE ANNUAL OPERATING EXPENSE OF THE PROJECT AND HELPING GIRLS EWS STUDENTS WHO ASPIRE TO ATTEND TOP LIBERAL ARTS SCHOOLS IN INDIA, US, UK AND AUSTRALIA TOWNS - THE ONE WORLD NETWORK OF SCHOOLS 620 FLORIDA STREET SUITE 110 BATON ROUGE LA 70801 463104577 501(C)(3) 35000 0 TO SUPPORT THE FUND'S MISSION OF ADVANCING EDUCATIONAL OUTCOMES FOR DISADVANTAGED CHILDREN IN INDIA. 2 0 PART I, LINE 2: A REPORT ON THE ONE WORLD'S PROGRESS IN ACCOMPLISHING THE PURPOSES OF THE GRANT, TOGETHER WITH A FULL AND COMPLETE REPORT ON THE EXPENDITURE AND UTILIZATION OF THE AVAILABLE FUNDS FROM THE GRANT (AND CONFIRMING THAT SUCH EXPENDITURES HAVE BEEN MADE IN ACCORDANCE WITH THE GRANT AGREEMENT) AND THE NUMBER AND A DESCRIPTION OF THE PERSONS BENEFITING FROM THE GRANT AT THE END OF THE GRANT PERIOD. X X X X 0 0 0 0 0 0 0 0 0 SEJAL DESAI EXECUTIVE DIRECTOR 158487 0 0 0 0 0 7233 0 0 0 165720 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE AKANKSHA EDUCATION FUND HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO ALL MEMBERS OF THE BOARD FOR REVIEW. ONCE THE RETURN IS APPROVED BY THE BOARD OR ITS DULY AUTHORIZED BOARD COMMITTEE, THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUIRED TO MAKE DISCLOSURES AS NEEDS ARISE AND TO REFRAIN FROM PARTICIPATION IN DECISION-MAKING (APART FROM PROVIDING INFORMATION) WHILE THE MATTER IS REVIEWED AND ANY RELATED ACTION TAKEN. AFTER THE INITIAL DISCLOSURE, THE AFFECTED INTERESTED PERSON IS REQUIRED TO PROVIDE ADDITIONAL INFORMATION, INCLUDING FULL DISCLOSURE OF ANY TRANSACTION AND RELATED INFORMATION WHICH MAY BE REQUESTED. DISCLOSURES ARE NORMALLY REFERRED INITIALLY TO THE FINANCIAL CONTROLS COMMITTEE, WHICH CONDUCTS A FULL REVIEW AND MAKES RECOMMENDATIONS AS TO WHETHER ANY ACTIONS INVOLVED WOULD BE IN THE BEST INTERESTS OF THE FUND, WITH OR WITHOUT ADDITIONAL CONDITIONS. THE FUND'S BOARD OF DIRECTORS (WHICH MAY ALSO, IF IT WISHES, PERFORM ALL OR PART OF THE FULL REVIEW NORMALLY DONE BY THE FINANCIAL CONTROLS COMMITTEE) THEN CONSIDERS THE MATTER, TOGETHER WITH ANY FINANCIAL CONTROLS COMMITTEE RECOMMENDATION, AND MAKES ANY DECISIONS INDICATED BY THE CIRCUMSTANCES. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD (PRESIDENT, VP, TREASURER AND SECRETARY) SERVE AS THE PERSONNEL COMMITTEE FOR SETTING COMPENSATION FOR THE EXECUTIVE DIRECTOR. THE COMMITTEE BASES COMPENSATION ON INDUSTRY STANDARDS, LEVEL OF EXPERIENCE, AND COST AND BENEFIT TO THE ORGANIZATION. THE EXECUTIVE COMMITTEE ALSO CONDUCTS AN ANNUAL REVIEW OF THE EXECUTIVE DIRECTOR'S PERFORMANCE AND AS PART OF THAT PROCESS ANY SALARY ADJUSTMENTS ARE MADE AS PART OF THIS PROCESS. THE LAST ANNUAL REVIEW OF THE EXECUTIVE DIRECTOR WAS DONE BY THE COMMITTEE IN MARCH 2022. THE DECISION AND APPROVAL OF COMPENSATION PROCESS IS DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS ALSO AVAILABLE ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.