AKANKSHA EDUCATION FUND INC: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- AKANKSHA EDUCATION FUND INC (EIN 13-3976569)
- Tax period
- 2019-04-01 to 2020-03-31
- Filed
- 2021-02-15
- IRS object ID
- 202130469349301503
- Schema version
- 2019v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-02-15T10:36:48-06:00 | ReturnTs |
| Tax Period End | 2020-03-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 271728945 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PKF O'CONNOR DAVIES LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 MAMARONECK AVENUE | AddressLine1Txt |
| City | HARRISON | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 105281633 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-04-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 133976569 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AKANKSHA EDUCATION FUND INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | AKAN | BusinessNameControlTxt |
| Phone | 9179306515 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2038 | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10113 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | FALGUNI MALKANI | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 9179306515 | PhoneNum |
| Signature | 2021-02-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | GARRETT M HIGGINS | PreparerPersonNm |
| PTIN | P00543209 | PTIN |
| Phone | 9143818900 | PhoneNum |
| Preparation | 2021-02-12 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RAMESH SRINIVASAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2038 | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10113 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,862,957 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.AKANKSHAFUND.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1996 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | THE AKANKSHA EDUCATION FUND INC. IS A NEW YORK NOT-FOR-PROFIT ORGANIZATION SUPPORTING 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. DURING FY 2020, THE AKANKSHA EDUCATION FUND INC. PROVIDED SUPPORT TO INNOVATIVE PROGRAMS OF THE AKANKSHA FOUNDATION, A REGISTERED INDIAN CHARITY WITH A MISSION TO PROVIDE CHILDREN FROM LOW-INCOME COMMUNITIES WITH A HIGH-QUALITY EDUCATION. | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 5 | TotalEmployeeCnt |
| Total Volunteers | 25 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,473,696 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,738,623 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $19,577 | PYInvestmentIncomeAmt |
| CY Investment Income | $31,934 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$39,340 | PYOtherRevenueAmt |
| CY Other Revenue | -$83,342 | CYOtherRevenueAmt |
| PY Total Revenue | $2,453,933 | PYTotalRevenueAmt |
| CY Total Revenue | $1,687,215 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,081,635 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,469,208 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $275,886 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $303,326 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $1,500 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $216,156 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $115,735 | PYOtherExpensesAmt |
| CY Other Expenses | $134,065 | CYOtherExpensesAmt |
| PY Total Expenses | $1,474,756 | PYTotalExpensesAmt |
| CY Total Expenses | $1,906,599 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $979,177 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$219,384 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $2,875,076 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,560,626 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $20,637 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $46,861 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $2,854,439 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $2,513,765 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE AKANKSHA EDUCATION FUND INC. IS A NEW YORK NOT-FOR-PROFIT ORGANIZATION SUPPORTING EDUCATIONAL OPPORTUNITIES FOR DISADVANTAGED CHILDREN IN INDIA, AND RAISING SUPPORT FOR AND AWARENESS OF SUCH ACTIVITIES IN THE UNITED STATES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $1,579,508 | ExpenseAmt |
| Grant | $1,469,208 | GrantAmt |
| Desc | IN FY2019 - FY2020, WE SENT SEVEN GRANTS TO THE AKANKSHA FOUNDATION. THE AKANKSHA 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 25 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 21 SCHOOLS, SERVING APPROXIMATELY 9,300 CHILDREN AND 3,100 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. | Desc |
| Total Program Service Expenses | $1,579,508 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | Yes (1) | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 9 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 5 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | FL | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | IL | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NC | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NJ | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | PA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | UT | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | FALGUNI MALKANI | PersonNm |
| Phone | 2123621943 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 120 EAST 29TH ST 1C | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10016 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|
| GOURI SADHWANI | ||||||
| EXECUTIVE DIRECTOR | 40.00 | Yes (X) | $155,000 | $0 | $21,369 | |
| RAMESH SRINIVASAN | ||||||
| PRESIDENT & DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| SARAH H ROBERTS | ||||||
| VICE PRESIDENT & DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| BHARTI MALKANI | ||||||
| SECRETARY & DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| FALGUNI MALKANI | ||||||
| TREASURER & DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| VANDANA GOYAL | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| PUNYA SHAH | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| SHANKAR IYER | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| COLETTE HAIDER | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| PRAKASH MELWANI | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| BRANDE STELLINGS | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| RON ROLFE | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| KATE SHOEMAKER | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| MEDHA VEDAPRAKASH | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $155,000 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $21,369 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $805,606 | FundraisingAmt |
| All Other Contributions | $933,017 | AllOtherContributionsAmt |
| Total Contributions | $1,738,623 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $31,934 | TotalRevenueColumnAmt |
| Exclusion | $31,934 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $92,400 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $805,606 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $175,742 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$83,342 | TotalRevenueColumnAmt |
| Exclusion | -$83,342 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,687,215 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | -$51,408 | ExclusionAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,469,208 | TotalAmt |
| Program Services | $1,469,208 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $177,841 | TotalAmt |
| Program Services | $43,386 | ProgramServicesAmt |
| Management And General | $34,023 | ManagementAndGeneralAmt |
| Fundraising | $100,432 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $106,098 | TotalAmt |
| Program Services | $26,141 | ProgramServicesAmt |
| Management And General | $20,833 | ManagementAndGeneralAmt |
| Fundraising | $59,124 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,387 | TotalAmt |
| Program Services | $5,958 | ProgramServicesAmt |
| Management And General | $686 | ManagementAndGeneralAmt |
| Fundraising | $12,743 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,419 | TotalAmt |
| Management And General | $3,419 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $45,093 | TotalAmt |
| Management And General | $45,093 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,528 | TotalAmt |
| Program Services | $5,928 | ProgramServicesAmt |
| Fundraising | $19,600 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,511 | TotalAmt |
| Program Services | $14,385 | ProgramServicesAmt |
| Management And General | $1,022 | ManagementAndGeneralAmt |
| Fundraising | $17,104 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,066 | TotalAmt |
| Program Services | $10,322 | ProgramServicesAmt |
| Fundraising | $744 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,306 | TotalAmt |
| Program Services | $2,522 | ProgramServicesAmt |
| Management And General | $1,892 | ManagementAndGeneralAmt |
| Fundraising | $1,892 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,648 | TotalAmt |
| Program Services | $1,523 | ProgramServicesAmt |
| Management And General | $3,922 | ManagementAndGeneralAmt |
| Fundraising | $4,203 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $494 | TotalAmt |
| Program Services | $135 | ProgramServicesAmt |
| Management And General | $45 | ManagementAndGeneralAmt |
| Fundraising | $314 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,906,599 | TotalAmt |
| Program Services | $1,579,508 | ProgramServicesAmt |
| Management And General | $110,935 | ManagementAndGeneralAmt |
| Fundraising | $216,156 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $175,366 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,180,270 | BOYAmt |
| EOY | $1,868,545 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $612,231 | BOYAmt |
| EOY | $451,774 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $82,575 | BOYAmt |
| EOY | $25,341 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $39,600 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,875,076 | BOYAmt |
| EOY | $2,560,626 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,637 | BOYAmt |
| EOY | $16,861 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $30,000 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,637 | BOYAmt |
| EOY | $46,861 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,363,498 | BOYAmt |
| EOY | $2,159,957 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $490,941 | BOYAmt |
| EOY | $353,808 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,854,439 | BOYAmt |
| EOY | $2,513,765 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,875,076 | BOYAmt |
| EOY | $2,560,626 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$219,384 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$121,290 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,075,307 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,535,104 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,907,259 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,352,406 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,738,623 | CurrentTaxYearAmt |
| Total | $8,608,699 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,075,307 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,535,104 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,907,259 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,352,406 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,738,623 | CurrentTaxYearAmt |
| Total | $8,608,699 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $2,269,798 | SubstantialContributorsTotAmt |
| Public Support Total170 | $6,338,901 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $386 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $822 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,338 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $19,577 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $31,934 | CurrentTaxYearAmt |
| Total | $54,057 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $8,662,756 | TotalSupportAmt |
| Public Support CY170 | 0.73170 | PublicSupportCY170Pct |
| Public Support PY170 | 0.66160 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $313,610 | BeginningYearBalanceAmt |
| Other Expenditures | $313,610 | OtherExpendituresAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $30,462 | BeginningYearBalanceAmt |
| Contributions | $328,100 | ContributionsAmt |
| Grants Or Scholarships | $44,952 | GrantsOrScholarshipsAmt |
| End Year Balance | $313,610 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $360 | BeginningYearBalanceAmt |
| Contributions | $339,982 | ContributionsAmt |
| Grants Or Scholarships | $309,880 | GrantsOrScholarshipsAmt |
| End Year Balance | $30,462 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $1,565,925 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $1,565,925 | RevenueSubtotalAmt |
| Other Revenues Not Included | $121,290 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $121,290 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $1,687,215 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $1,906,599 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $1,906,599 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $1,906,599 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 2017. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | WRITE-OFF OF UNCOLLECTIBLE PLEDGES REPORTED ON PART XI, LINE 9 121,290. |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Account Activities Outside US AccountActivitiesOutsideUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | SOUTH ASIA | RegionTxt |
| Offices | 0 | OfficesCnt |
| Employee | 0 | EmployeeCnt |
| Type Of Activities Conducted | GRANTMAKING | TypeOfActivitiesConductedTxt |
| Region Total Expenditures | $1,469,208 | RegionTotalExpendituresAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $1,469,208 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $1,469,208 | TotalSpentAmt |
Grants To Org Outside US GrantsToOrgOutsideUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | SOUTH ASIA | RegionTxt |
| Purpose Of Grant | SUPPORT FOR THE GRANTEE'S EDUCATIONAL PROGRAMS | PurposeOfGrantTxt |
| Cash Grant | $1,469,208 | CashGrantAmt |
| Manner Of Cash Disbursement | WIRE | MannerOfCashDisbursementTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
| Transfer To Foreign Corp | 0 | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | 0 | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | 0 | PassiveForeignInvestmestCoInd |
| Foreign Partnership | 0 | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 2: | THE FUND'S PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS OUTSIDE OF THE UNITED STATES (IN THE CASE OF THE FUND, PRINCIPALLY IN INDIA) 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 IN INDIA. |
| 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 AUDITED FINANCIAL STATEMENTS. |
| PART III ACCOUNTING METHOD: |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | GALA | Event1Nm |
| Gross Receipts Event1 | $898,006 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $805,606 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $92,400 | GrossRevenueEvent1Amt |
| Rent Facility Costs Event1 | $80,075 | RentFacilityCostsEvent1Amt |
| Food And Beverage Event1 | $35,471 | FoodAndBeverageEvent1Amt |
| Entertainment Event1 | $39,535 | EntertainmentEvent1Amt |
| Other Direct Expenses Event1 | $20,661 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $898,006 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $805,606 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $92,400 | GrossRevenueTotalEventsAmt |
| Rent Fclty Costs Total Events | $80,075 | RentFcltyCostsTotalEventsAmt |
| Food And Beverage Total Events | $35,471 | FoodAndBeverageTotalEventsAmt |
| Entertainment Total Events | $39,535 | EntertainmentTotalEventsAmt |
| Oth Direct Expnss Total Events | $20,661 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $175,742 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | -$83,342 | NetIncomeSummaryAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GOURI SADHWANI | PersonNm |
| Title | EXECUTIVE DIRECTOR | TitleTxt |
| Base Compensation Filing Org | $155,000 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $9,300 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $12,069 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $176,369 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | THE ORGANIZATION CHANGED ITS NAME FROM "AKANKSHA FUND INC." TO "AKANKSHA EDUCATION FUND INC." |
| 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, IN ADDITION TO ANNUAL DISCLOSURES, 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 | WHEN THE EXECUTIVE DIRECTOR, GOURI SADHWANI, WAS FIRST HIRED FOR THE AKANKSHA EDUCATION FUND IN OCTOBER OF 2013, SHE WAS THE FUND'S FIRST FULL-TIME EMPLOYEE AND THE BOARD ESTABLISHED AN EXECUTIVE COMMITTEE TO PREPARE FOR THE PROCESS. WHEN IT CAME TIME TO OFFER THE JOB, THE COMMITTEE ESTABLISHED THE SALARY AFTER REVIEWING COMPARABLE SALARIES FOR NY NON-PROFIT DIRECTORS, AND IN NEGOTIATION WITH THE EXECUTIVE DIRECTOR, WHO HAD BEEN WORKING IN THE FIELD FOR SOME TIME. THE EXECUTIVE COMMITTEE MEETS WITH THE EXECUTIVE DIRECTOR DURING EACH YEAR TO DISCUSS HER PROGRESS AND HANDLE THE ANNUAL REVIEW, WITH ADVICE FROM THE BOARD. NOTES AND APPROVALS ARE DOCUMENTED IN THE MINUTES TO THIS EFFECT. USUALLY THE REVIEW PROCESS BEGINS IN OCTOBER AND IS COMPLETED BY DECEMBER/JANUARY. WHEN THE EXECUTIVE DIRECTOR NEEDS SOME EXTRA HELP, SHE IS DIRECTED TO HIRE PART TIME STAFF, AND SHE MANAGES THIS PROCESS WITH AUTHORIZATION FROM THE COMMITTEE. THE EXECUTIVE DIRECTOR HANDLED THE HIRING, REVIEW AND SET THE SALARIES, WHICH WERE APPROVED BY THE BOARD. BY 2016, AS PART OF THE REVIEW PROCESS, THE HEAD OF THE PERSONNEL COMMITTEE AND THE EXECUTIVE COMMITTEE, ACTING AS THE PERSONNEL COMMITTEE, REACHED A THREE-YEAR SALARY COMMITMENT WITH THE EXECUTIVE DIRECTOR, WHICH IS ENTERING ITS LAST YEAR AS OF OCTOBER 2019. ENSURING CONTINUITY, THE FUND HELD NEGOTIATIONS FOR FURTHER EMPLOYMENT OF THE EXECUTIVE DIRECTOR, AND THE FINAL AGREEMENT WAS APPROVED BY THE BOARD AT A REGULAR BOARD MEETING. THE FUND CONTINUES TO TAKE INTO CONSIDERATION COMPARABLE SALARIES IN THE FIELD, AS THIS PROCESS WAS CONSIDERED AS AN "INVESTMENT" IN THE AKANKSHA EDUCATION FUND'S FUTURE FINANCIAL GROWTH. THE EXECUTIVE DIRECTOR CONTINUES TO DO ANY ADDITIONAL HIRING OF PART TIME PERSONNEL, SHE HANDLES THEIR REVIEWS AND ANY RAISES IN THEIR SALARIES. ALL OF THIS IS IN CONSULTATION WITH THE EXECUTIVE COMMITTEE, WHICH STILL ACTS AS THE PERSONNEL 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 POSTED 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. |
| FORM 990, PART XI, LINE 9: | WRITE-OFF OF UNCOLLECTIBLE PLEDGES -121,290. |
| 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. |
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