2022-12-12T10:35:26-06:00 2022-03-31 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2021-04-01 133976569 AKANKSHA EDUCATION FUND INC AKAN 9179306515 PO BOX 2038 NEW YORK NY 10113 FALGUNI MALKANI TREASURER 9179306515 2022-12-12 1 FALGUNI MALKANI XXX-XX-XXXX EVA MRUK P00543254 9143818900 2022-12-08 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z RAMESH SRINIVASAN PO BOX 2038 NEW YORK NY 10113 2891803 0 X WWW.AKANKSHAFUND.ORG X 1996 NY TO SUPPORT EDUCATIONAL OPPORTUNITIES FOR DISADVANTAGED 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. 12 12 4 13 0 0 1657367 2857995 0 0 4182 -1591 -19686 -5864 1641863 2850540 1581059 1700082 0 0 311803 325461 0 0 176304 103090 96938 1995952 2122481 -354089 728059 2241731 2904487 81815 16512 2159916 2887975 TO SUPPORT EDUCATIONAL OPPORTUNITIES FOR DISADVANTAGED CHILDREN IN INDIA, AND RAISING SUPPORT FOR AND AWARENESS OF SUCH ACTIVITIES IN THE UNITED STATES. 0 0 1794943 1700082 0 AKANKSHA FOUNDATION PROVIDES 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 AKANKSHA SCHOOLS. TODAY, THEY ARE ONE OF THE LARGEST URBAN NETWORKS OF PUBLIC-PRIVATE PARTNERSHIP SCHOOLS OF ITS KIND IN INDIA. CURRENTLY, THE FOUNDATION OPERATES 27 SCHOOLS IN MUMBAI, PUNE AND NAGPUR, SERVING APPROXIMATELY 14,000 CHILDREN AND 4,000 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. 1794943 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 0 0 0 0 0 0 0 0 0 1 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 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA FL IL NC NY MA NJ PA UT X X FALGUNI MALKANI 2123621943 120 EAST 29TH ST 1C NEW YORK NY 10016 RAMESH SRINIVASAN PRESIDENT 5.00 X X 0 0 0 SARAH H ROBERTS VICE PRESIDENT 2.00 X X 0 0 0 BHARTI MALKANI SECRETARY 2.00 X X 0 0 0 FALGUNI MALKANI TREASURER 5.00 X X 0 0 0 COLETTE HAIDER DIRECTOR 1.00 X 0 0 0 SHANKAR IYER DIRECTOR 1.00 X 0 0 0 NATHALIE JOSEPH DIRECTOR 1.00 X 0 0 0 KATE SHOEMAKER DIRECTOR 1.00 X 0 0 0 SRIVIDYA PRAKASH DIRECTOR 1.00 X 0 0 0 MEDHA VEDAPRAKASH DIRECTOR 1.00 X 0 0 0 PUNYA SHAH DIRECTOR (THRU 9/2021) 1.00 X 0 0 0 NYMRATA ADVANI DIRECTOR 1.00 X 0 0 0 SACHIN JINDAL DIRECTOR 1.00 X 0 0 0 GOURI SADHWANI EXECUTIVE DIRECTOR (THRU 3/2021) 40.00 X 68750 0 20860 SEJAL DESAI EXECUTIVE DIRECTOR 40.00 X 120556 0 0 189306 0 20860 1 0 0 0 0 485639 49790 2322566 35399 2857995 843 843 32965 35399 -2434 -2434 -2434 0 485639 5864 -5864 -5864 2850540 0 0 -7455 40000 40000 1660082 1660082 209239 41848 41848 125543 88000 42435 26895 18670 5160 3004 1771 385 471 471 22591 5512 6783 10296 42020 42020 2367 2367 32834 16067 16767 8568 7067 1501 1105 331 442 332 8183 1595 4727 1861 1861 136 776 949 2122481 1794943 151234 176304 125241 241050 1802572 1778550 303368 883063 10550 1824 2241731 2904487 7025 16512 25000 0 49790 0 81815 16512 X 1947068 1872469 212848 1015506 2159916 2887975 2241731 2904487 728059 0 X X 0 1 X 1 0 X 1907259 2352406 1738623 1657367 2857995 10513650 1907259 2352406 1738623 1657367 2857995 10513650 2492807 8020843 1338 19577 31934 4182 843 57874 10571524 0.75870 0.75870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 313610 313610 0 X 2862873 12333 12333 2850540 0 2850540 2134814 12333 12333 2122481 0 2122481 PART V, LINE 4: DURING THE FISCAL YEAR 2018 AUDIT OF THE FUND'S FINANCIALS, IT WAS DETERMINED THAT NONE OF THE NET ASSETS MET THE DEFINITION OF ENDOWMENT FUNDS BY U.S. GAAP. AS A RESULT, THEY HAVE BEEN REMOVED FROM PART V. 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 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASS PLEDGE DISCOUNT TO PART VIII, LINE 1H 12,333. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS PLEDGE DISCOUNT TO PART VIII, LINE 1H 12,333. 1 SOUTH ASIA 0 0 GRANTMAKING 1660082 0 0 0 0 0 0 1660082 0 1660082 SOUTH ASIA SUPPORT FOR THE GRANTEE'S EDUCATIONAL PROGRAMS 1660082 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: VIRTUAL GALA 485639 485639 1332 3500 1032 485639 485639 1332 3500 1032 5864 -5864 1 TOGETHER EDUCATION INC 25 BROADWAY 3RD FLOOR NEW YORK NY 10004 261525207 501(C)(3) 40000 0 TO SUPPORT THE ONE WORLD EDUCATIONAL PROGRAM 1 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 3 35399 AVG. SELLING PRICE 0 0 0 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B). 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) ALSO SERVE AS THE PERSONNEL COMMITTEE FOR THE EXECUTIVE DIRECTOR. THE COMPENSATION FOR THE EXECUTIVE DIRECTOR IS DETERMINED BY THIS COMMITTEE. 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 EXECUTIVE DIRECTOR DETERMINES THE SALARY AND BENEFITS PACKAGE OF OTHER STAFF IN CONSULTATION WITH THE EXECUTIVE COMMITTEE AND BASES HER RECOMMENDATION ON INDUSTRY STANDARDS, LEVEL OF EXPERIENCE AND COST IMPACT ON THE ORGANIZATION. AN ANNUAL REVIEW OF ALL STAFF IS ALSO CONDUCTED BY THE EXECUTIVE DIRECTOR IN MARCH AND THE RESULTS OF WHICH ARE SHARED WITH THE EXECUTIVE COMMITTEE. 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.