Akanksha Education Fund Inc
- Assets
- $3.6m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 4
- Location
- New York, NY
- Founding
- 04/1998
- Data as of
- 03/2023
- EIN
- 13-3976569
Organization Overview
Akanksha Education Fund Inc is located in New York, NY. The organization was established in 1998. According to its NTEE Classification (Q12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 03/2023, Akanksha Education Fund Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Akanksha Education Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, Akanksha Education Fund Inc generated $2.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $1.9m during the year ending 03/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shankar Iyer President | OfficerTrustee | 5 | $0 |
Bharti Malkani Vice President | OfficerTrustee | 2 | $0 |
Kate Shoemaker Secretary | OfficerTrustee | 2 | $0 |
Falguni Malkani Treasurer | OfficerTrustee | 5 | $0 |
Nymrata Advani Director | Trustee | 1 | $0 |
Lorie Broser Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $465,421 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,099,727 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,565,148 |
| Total Program Service Revenue | $0 |
| Investment income | $24,010 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$677 |
| Net Income from Fundraising Events | -$8,372 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,580,109 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $235,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,245,171 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $169,269 |
| Compensation of current officers, directors, key employees. | $33,854 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $80,570 |
| Pension plan accruals and contributions | $1,826 |
| Other employee benefits | $917 |
| Payroll taxes | $18,830 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $53,692 |
| Advertising and promotion | $0 |
| Office expenses | $21,495 |
| Information technology | $8,249 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,703 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $850 |
| All other expenses | $0 |
| Total functional expenses | $1,897,972 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,766 |
| Savings and temporary cash investments | $2,253,580 |
| Pledges and grants receivable | $1,161,716 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,389 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $10,017 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,683 |
| Total assets | $3,590,151 |
| Accounts payable and accrued expenses | $20,039 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,039 |
| Net assets without donor restrictions | $2,385,255 |
| Net assets with donor restrictions | $1,184,857 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,590,151 |
Grants Awarded
Over the last fiscal year, Akanksha Education Fund Inc has awarded $235,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
AAM FOUNDATION USA PURPOSE: 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 | $200,000 |
TOWNS - THE ONE WORLD NETWORK OF SCHOOLS PURPOSE: TO SUPPORT THE FUND'S MISSION OF ADVANCING EDUCATIONAL OUTCOMES FOR DISADVANTAGED CHILDREN IN INDIA. | $35,000 |