2014-11-17T17:42:32-06:00 2013-12-31 943145806 EICHSTAEDT & LERVOLD LLP 50 CALIFORNIA STREET STE 3550 SAN FRANCISCO CA 94111 990PF 2013-01-01 383840804 WADHWANI OPERATING FOUNDATION CO REALIZE CPA WADH 4153625990 50 CALIFORNIA STREET STE 3550 SAN FRANCISCO CA 94111 ROMESH WADHWANI DIRECTOR 4153625990 2014-11-17 1 TRACY HOM P01085786 4153625990 2013 2015-12-30 17:16:21Z X 57105571 X 258520 21 219599 219599 937 483426 483426 75044 312721 1298534 508693 88622 193548 334522 2090181 1405266 300000 0 0 300000 124727 0 0 98360 63927 0 0 67053 44965 0 0 44965 36775 0 0 36775 536630 0 0 484847 542 0 0 75953 0 0 72419 58276 768733 503658 56281 1241795 768733 503658 1160700 815372 0 2057167 768733 503658 1160700 -1722645 1321448 901608 9341482 521788 521788 239180 239180 186844 189939 189939 0 20843 20843 46240259 56117378 56117378 17628 1185 10276 16443 16443 55778861 57105571 57105571 10418 51783 1257765 1655908 1268183 1707691 X 0 0 0 0 54510678 55397880 54510678 55397880 55778861 57105571 54510678 -1722645 2609847 55397880 0 55397880 SCHF US, LP P 484097 484097 484097 SCHF US, LP P 573775 573775 573775 SCHF US, LP P 1393 1393 1393 SCHF US, LP P 24673 -24673 -24673 TENNENBAUM OPPORTUNITIES FUND VI P 24596 24596 24596 TENNENBAUM OPPORTUNITIES FUND VI P 13441 13441 13441 6937 SHS INFOBLOX (UBS) D 166429 16902 149527 149527 5757 SHS RUCKUS WIRELESS (UBS) D 73821 4033 69788 69788 IRI ESCROW P 72471 72471 72471 LESS: AMOUNT REPORTED ON FORM 990-T AS UBTI P -65881 -65881 1298534 508693 0 445532 42018337 0.010603 1901253 38383824 0.049533 0.060136 0.030068 55160447 1658564 13214 1671778 1826607 X 13214 0 13214 0 13214 186844 186844 173630 173630 0 0 0 0 0 0 0 0 0 1 1 0 1 1 CA 1 1 0 1 0 1 N/A REALIZE CPA LLP 4153625990 50 CALIFORNIA STREET STE 3550 SAN FRANCISCO CA 94111 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ROMESH T WADHWANI 2475 HANOVER STREET PALO ALTO CA 94304 CEO/DIRECTOR 0.50 0 0 0 KATHLEEN E WADHWANI 2475 HANOVER STREET PALO ALTO CA 94304 SECRETARY/CFO/DIRECTOR 0.50 0 0 0 AJAY KELA 2475 HANOVER STREET PALO ALTO CA 94304 EXECUTIVE DIRECTOR 40.00 300000 0 0 LAURA PARKIN 40 MOUNT PLEASANT STREET 4 CAMBRIDGE MA 02140 EXECUTIVE DIRECTOR 40.00 58333 0 0 0 NONE 0 WADHWANI OPPORTUNITY NETWORK FOR DISABLED (OND) PROJECT. TO MAINSTREAM EDUCATED, YOUNG PERSONS WITH DISABILITIES (PWD) INTO SUSTAINABLE, HIGH-QUALITY CORPORATE JOBS, AND TO MAKE CORPORATIONS RECOGNIZE THE VALUE OF HIRING THE DISABLED. INITIATIVE FOCUSED ON PROVIDING ACCESS TO TALENTED MANPOWER TOOL; NETWORK OF SUPPORT PARTNERS, SHARING TRAINING KNOW-HOW, EDUCATING EMPLOYERS TO BE INCLUSIVE 49362 THE NATIONAL ENTREPRENEURSHIP NETWORK IS ESTABLISHED TO CREATE AND SUPPORT HIGH GROWTH ENTREPRENEURS, DRIVING JOB-CREATION AND ECONOMIC GROWTH. FOCUSES ON HIGH-IMPACT ENTREPRENEURSHIP EDUCATION; ACCESS TO MENTORS, EXPERTS AND ADVANCED PEDAGOGY; FAST-TRACK ACCESS TO INCUBATION; FUNDING LEARNING TOOLS AND MATERIALS. ALSO FOCUSES ON DEVELOPING A VIBRANT ECOSYSTEM IN THE COUNTRY BY BUILDING INSTITUTIONAL CAPACITY AND INSPIRING, EDUCATING & SUPPORTING HIGH POTENTIAL ENTREPRENEURS TO CREATE HIGH-VALUE JOBS 229671 QUALIFIED SET ASIDE (SEE ATTACHMENT) 585700 0 15345 11554588 44430521 56000454 0 0 56000454 840007 55160447 2758022 X 1160700 0 80207 585700 1826607 13214 1813393 X 901608 393076 1170760 0 2465444 766367 334115 995146 0 2095627 1826607 445532 1901253 0 4173392 0 0 0 0 0 1826607 445532 1901253 0 4173392 0 0 1838681 1055249 1279461 0 4173391 0 0 0 0 ROMESH T WADHWANI KATHLEEN E WADHWANI X 33112 SET ASIDE 2475 HANOVER STREET PALO ALTO CA 94304 PRIVATE OPERATING FO TO PROVIDE CURRICULUM CONTENT AND TEACHER TRAINING 229672 229672 123113 SET ASIDE 2475 HANOVER STREET PALO ALTO CA 94304 PRIVATE OPERATING FO SEE ATTACHED DESCRIPTION OF SET ASIDE 585700 585700 14 21 14 937 01 18 75044 0 76002 0 76002 0 0 0 0 0 0 0 0 0 0 X X 1 ROMESH WADHWANI 26170 FREMONT ROAD LOS ALTOS HILLS CA 94022 163297 X 2 ROMESH WADHWANI 26170 FREMONT ROAD LOS ALTOS HILLS CA 94022 74380 X 3 ROMESH WADHWANI 26170 FREMONT ROAD LOS ALTOS HILLS CA 94022 20843 X 1 6,937 SHARES OF INFLOBLOX INC. 163297 2013-05-03 2 5,757 SHARES OF RUCKUS WIRELESS INC. 74380 2013-12-12 3 1,612 SHARES OF RUCKUS WIRELESS INC. 20843 2013-12-13 ACCOUNTING FEES 36775 0 0 36775 WADHWANI OPERATING FOUNDATIONATTACHMENT TO FORM 990-PFSET-ASIDE UNDER SECTION 4942(G)(2)TAX YEAR ENDING DECEMBER 31, 2013EIN: 38-3840804TREASURY REGULATION 53.4942(A)-3(B)(7)(II)(A)-(E) (A) WADHWANI OPERATING FOUNDATION IS SETTING ASIDE $585,700 OF ITS DISTRIBUTABLE AMOUNT FOR ITS TAX YEAR ENDING DECEMBER 31, 2013 FOR THREE SPECIFIC PROJECTS (THE "PROJECTS"). A DESCRIPTION OF THE NATURE AND PURPOSES OF THE PROJECTS FOLLOWS. NAME OF PROJECT: RACE TO A JOB (UNITED STATES)AMOUNT SET ASIDE: $185,000NATURE AND PURPOSE OF THE PROJECT: THIS PROJECT WORKS TO EXPAND CAREER AND TECHNICAL EDUCATION PROGRAMS IN THE UNITED STATES. IN FURTHERANCE OF THIS PROJECT, THE FOUNDATION WORKS WITH COMMUNITY COLLEGES IN THE UNITED STATES. THE SPECIFIC PORTION OF THE PROJECT FOR WHICH THE FOUNDATION IS SETTING ASIDE FUNDS IS THE CONTENT DEVELOPMENT. NAME OF PROJECT:DISTRIBUTION OF TECHNICAL EDUCATIONAL CONTENT AND CURRICULUM (INDIA)AMOUNT SET ASIDE:$100,000NATURE AND PURPOSE OF PROJECT: AFTER DEVELOPING CURRICULUM CONTENT TO INCREASE EMPLOYABILITY OF THOSE IN TERTIARY EDUCATION IN A PARTICULAR FIELD AND TESTING THE CONTENT IN A PILOT PROGRAM, THE FOUNDATION WIDELY DISTRIBUTES THAT CONTENT TO OTHER PARTNERS WORKING IN FIELDS THAT RECRUIT SIMILAR SKILL SETS. THE SPECIFIC PORTION OF THE PROJECT FOR WHICH THE FOUNDATION IS SETTING ASIDE FUNDS IS THE DISTRIBUTION OF CURRICULUM.NAME OF PROJECT: ECONOMIC DEVELOPMENT - JOB TRAINING CURRICULUM DEVELOPMENT (INDIA)AMOUNT SET ASIDE: $150,000NATURE AND PURPOSE OF THE PROJECT: THE FOUNDATION'S ECONOMIC DEVELOPMENT PROGRAMS INCLUDE DEVELOPMENT OF SPECIFIC AND HANDS-ON JOB TRAINING COURSES FOR ENTRY LEVEL JOBS. INDIVIDUALS WHO PARTICIPATE IN THESE COURSES WILL HAVE THE SKILLS NEEDED TO DO A CERTAIN JOB. THE FOUNDATION IS IN THE RESEARCH AND DEVELOPMENT PHASE OF THIS PROJECT, WHICH WAS DELAYED AS DESCRIBED, BELOW. THE SPECIFIC PORTION OF THE PROJECT FOR WHICH THE FOUNDATION IS SETTING ASIDE FUNDS IS RESEARCH ON APPROPRIATE TRAINING COURSES AND DEVELOPMENT OF CONTENT FOR SUCH COURSES. NAME OF PROJECT: OPPORTUNITY NETWORK FOR DISABLED (INDIA)AMOUNT SET ASIDE: $150,700NATURE AND PURPOSE OF PROJECT: THE FOUNDATION'S OND PROGRAM WORKS TOWARD MAINSTREAMING DIFFERENTLY ABLED PEOPLE IN TO MAINSTREAM CORPORATE JOBS, SO THAT THEY CAN LEAD THEIR LIVES WITH THE DIGNITY AND SELF- RESPECT OF ANY OTHER ABLED PERSON. THE FOUNDATION TRAINS DIFFERENTLY ABLED INDIVIDUALS. THE FOUNDATION PLANNED TO TRAIN 5,000 INDIVIDUALS SO THAT THEY MIGHT SECURE MEANINGFUL EMPLOYMENT. BECAUSE OF THE BUREAUCRATIC DELAYS DESCRIBED, BELOW, THE FOUNDATION'S ENTIRE OND PROGRAM, WAS DELAYED AND THE FOUNDATION WAS ONLY ABLE TO TRAIN A FRACTION OF THE INDIVIDUALS IT HAD PLANNED TO TRAIN. TOTAL $585,700 (B) THE SET-ASIDE AMOUNT WILL BE PAID FOR THE PROJECT NO LATER THAN 60 MONTHS FROM THE DATE OF THE SET-ASIDE. (C) WADHWANI OPERATING FOUNDATION IS IN ITS START-UP PHASE. THE PROJECTS WILL NOT BE COMPLETED BEFORE THE END OF THE TAXABLE YEAR IN WHICH THE SET-ASIDE IS MADE BECAUSE OF MULTIPLE FACTORS. INDIAN PROJECTS: THERE HAVE BEEN NUMEROUS DELAYS IN OBTAINING NECESSARY GOVERNMENT APPROVALS FOR THE FOUNDATION TO FULLY CONDUCT ITS WORK AND HIRE EMPLOYEES IN INDIA. IN ADDITION, THE NONPROFIT AND SOCIAL SECTORS IN INDIA IS STILL RELATIVELY SMALL AND SOMEWHAT UNDERDEVELOPED. FINDING QUALIFIED STAFF TO WORK ON ACHIEVING THE FOUNDATION'S EXEMPT PURPOSES HAS PROVEN A MUCH MORE SIGNIFICANT CHALLENGE THAN ANTICIPATED. GOVERNMENT DELAYS WERE ALSO PARTICULARLY EXACERBATED IN 2013 DUE TO THE COUNTRY'S OVERALL PREPARATION FOR THE INDIA GENERAL ELECTION. IN ADDITION, THERE HAVE BEEN ONGOING POLITICAL UPHEAVALS IN THE INDIAN STATE OF ANDHRA PRADESH THAT HAVE SLOWED THE FOUNDATION'S WORK IN THAT STATE. UNITED STATES PROJECT: THE FOUNDATION HAD PLANNED TO BEGIN TWO PILOT PROGRAMS WITH COMMUNITY COLLEGES TO DEVELOP A PROTOTYPE FOR ONLINE DELIVERY, AS WELL AS CONTENT FOR TWO COURSES, AS PART OF ITS RACE TO A JOB INITIATIVE. WHILE TWO COMMUNITY COLLEGES WERE IDENTIFIED, SECURING THE APPROPRIATE INTERNAL REVIEWS IN ORDER TO BEGIN CONTENT DEVELOPMENT PROVED IMPOSSIBLE BY THE END OF THE FOUNDATION'S TAX YEAR. (D) STATEMENT SHOWING THE DISTRIBUTABLE AMOUNTS DETERMINED UNDER IRC 4942(D) FOR ANY PAST TAXABLE YEARS IN THE PRIVATE FOUNDATION'S START-UP AND FULL-PAYMENT PERIODS. THE TAX YEAR ENDING DECEMBER 31, 2013 IS THE SECOND YEAR IN THE FOUNDATION'S START-UP PERIOD. THEREFORE, THE ONLY PAST TAXABLE YEAR IN THE FOUNDATION'S START-UP PERIOD IS THE YEAR ENDING 12/31/2012. PAST TAXABLE YEARS IN THE START-UP AND FULL-PAYMENT PERIODS:2012DISTRIBUTABLE AMOUNT AS DETERMINED UNDER IRC 4942(D):$1,577,539**SEE PAGE 10 OF THE FOUNDATION'S FORM 990-PF FOR INFORMATION ON THE FOUNDATION'S SATISFACTION OF THE PRIVATE OPERATING FOUNDATION TESTS UNDER SECTION 4942(J)(3). (E) STATEMENT SHOWING THE AGGREGATE AMOUNT OF ACTUAL PAYMENTS MADE IN CASH FOR CHARITABLE PURPOSES DURING EACH TAXABLE YEAR IN THE FOUNDATION'S START-UP AND FULL-PAYMENT PERIOD. THIS STATEMENT SHOULD INCLUDE A DETAILED DESCRIPTION OF ANY PAYMENTS THAT ARE TO BE TREATED AS DISTRIBUTED DURING A TAXABLE YEAR PRIOR TO THE TAXABLE YEAR IN WHICH SUCH PAYMENTS WERE ACTUALLY MADE AND, IN ADDITION, SHOULD EXPLAIN THE CIRCUMSTANCES THAT JUSTIFY THE APPLICATION OF THOSE RULES. ACTUAL PAYMENTS IN CASH FOR CHARITABLE PURPOSES: TAX YEAR ENDING: 3/31/12 $894,253 START-UP PERIOD: 12/31/12 $445,532 12/31/13 $1,470,579 12/31/14 N/A 12/31/15 N/A TOTALS $2,810,364 PURSUANT TO TREASURY REGULATION 53.4942(A)-3(B)(4)(IV), THE FOUNDATION INTENDS TO TREAT THE DISTRIBUTION MADE DURING THE TAXABLE YEAR IN WHICH THE FOUNDATION WAS CREATED AS A DISTRIBUTION ACTUALLY MADE DURING THE START-UP PERIOD. INFLOBLOX INC 0 0 RUCKUS WIRELESS 20843 20843 IRI ESCROW AT COST 0 0 IRI ROLLOVER AT COST 4856220 4856220 IRI WARRANTS AT COST 1248336 1248336 ESCROW RECEIVABLE AT COST 14643 14643 UBS SELECT PRIME FMV 9041074 9041074 SEQUOIA CAP HERITAGE FUND FMV 18128350 18128350 TENNENBAUM OPPORTUNITIES FMV 1930098 1930098 GLOBAL OPPORTUNITY FUND FMV 4779220 4779220 KOTAK WM INDIA FUND FMV 4695075 4695075 ALDATA INVESTMENTS FMV 8059212 8059212 WASPIRE INVESTMENTS FMV 630893 630893 VALINOR CREDIT PARTNERS AT COST 2734257 2734257 LEGAL FEES 44965 0 0 44965 BANK CHARGES 201 201 0 0 DEDUCTIONS FROM SEQUOIA K1 0 724485 463360 0 DEDUCTIONS FROM TENNENBAUM K1 0 41881 38132 0 DEDUCTIONS FROM WASPIRE K1 0 2166 2166 0 MISCELLANEOUS 5230 0 0 3436 OFFICE EXPENSES 122 0 0 122 OND EXPENSES 49362 0 0 49362 TELEPHONE & INTERNET 3361 0 0 3361 BOOK/TAX GAAP ADJUSTMENT 2609847 PAYABLE TO WADHWANI FOUNDATION 247108 279033 OTHER PAYROLL LIABILITIES 3657 531 ACCRUED EXPENSES 0 13316 SET ASIDE (3/31/12) 1007000 777328 SET ASIDE (12/31/13) 0 585700 CONSULTING FEES 536630 0 0 484847 KOTAK WM INDIA FUND LIMITED 33 EDITH CAVELL STREET PORT LOUIS MP 000000000 NO TRANSFER MADE DURING THE YEAR 0 0