Avasant Foundation
- Assets
- $490.8k
- Revenue
- $373.1k
- Investments
- $0.0
- Employees
- 1
- Location
- El Segundo, CA
- Founding
- 06/2014
- Data as of
- 12/2021
- EIN
- 46-0691011
Organization Overview
Avasant Foundation is located in El Segundo, CA. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Avasant Foundation 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 12/2021, Avasant Foundation generated $373.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.6% each year . All expenses for the organization totaled $295.0k during the year ending 12/2021. While expenses have increased by 4.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
AVASANT FOUNDATION IS A NONPROFIT CORPORATION ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES. AVASANT FOUNDATION SHALL BE DEDICATED TO THE NEEDS OF CHILDREN WITH A FOCUS ON POVERTY REDUCTION, EDUCATION, AND EMPLOYMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AVASANT FOUNDATION HELPED CATALYZE THE CREATION OF OVER 6000 NEW JOBS IN COLLABORATION WITH GOVERNMENTS, NON-PROFITS AND THE REGION'S GROWING ICT SERVICE INDUSTRY. A NEW EFFORT INVOLVED ADVISING THE RWANDAN GOVERNMENT ON HOW TO OPTIMIZE ITS INVESTMENTS IN ICT FOR JOB CREATION AND DEVELOPMENT.
IN 2021, AF CONTINUED TO SCALE ITS AVASANT DIGITAL YOUTH EMPLOYMENT INITIATIVE IN THE CARIBBEAN. THIS YEAR MARKED THE SEVENTH CONSECUTIVE YEAR MAKING AN IMPACT THROUGH SKILLS TRAINING AND GETTING YOUTH HIRED BY COMPANIES COMMITED TO IMPACT SOURCING. OVER 90% OF TRAINEES SECURED EMPLOYMENT WITH LEADING IT/BPO SERVICE PROVIDERS WITHIN WEEKS OF FINISHING THEIR TRAINING.IN TRINIDAD & TOBAGO, AVASANT FOUNDATION IN PARTNERSHIP WITH CTS COLLEGE OF BUSINESS AND COMPUTER SCIENCE AND THE MASSY GROUP HAS COMPLETED THE GLOBAL SKILLS FOR DIGITAL SERVICES PROGRAM FUNDED BY THE IDB TO BRIDGE THE PREVAILING SKILL-GAP IN THE ITES SECTOR IN T&T WITH A TRAINED WORKFORCE. 49 YOUTH HAVE RECEIVED TRAINING IN HIGHDEMAND SKILLS FOR A PERIOD OF 18 MONTHS WITH AF'S ADYEI.
AVASANT FOUNDATION SUPPORTED STEM AND ENTREPRENEURSHIP EDUCATION FOR DISADVANTAGED YOUTH IN THE UNITED STATES AS WELL AS OTHER INITIATIVES IN PARTNERSHIP WITH NON-PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chitra Rajeshwari Exec Director | OfficerTrustee | 20 | $75,917 |
Kevin Parikh President | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $181,232 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $181,232 |
| Total Program Service Revenue | $17,520 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $174,375 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $373,127 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $75,917 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,329 |
| Payroll taxes | $14,415 |
| Fees for services: Management | $157,864 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $810 |
| Information technology | $175 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,517 |
| 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 | $8,630 |
| Insurance | $0 |
| All other expenses | $140 |
| Total functional expenses | $294,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $490,768 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $490,768 |
| Accounts payable and accrued expenses | $250 |
| Grants payable | $18,426 |
| 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 | $750 |
| Total liabilities | $19,426 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $471,342 |
| Total liabilities and net assets/fund balances | $490,768 |
Grants Awarded
Over the last fiscal year, Avasant Foundation has awarded $72,049 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL FUND | $25,000 |
CLINTON GLOBAL INITIATIVE PURPOSE: GENERAL FUND | $20,000 |
AHTIC - HAITI INITIATIVE PURPOSE: GENERAL FUND | $17,049 |
New York, NY PURPOSE: GENERAL FUND | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Avasant Foundation has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kipp Foundation San Francisco, CA | $136,274,072 | $130,699,963 |
The Chicago School - California Inc Los Angeles, CA | $127,785,110 | $98,235,232 |
Social Good Fund Richmond, CA | $64,387,201 | $85,650,973 |
Avid Center San Diego, CA | $134,506,037 | $61,146,519 |
Khan Academy Inc Mountain View, CA | $115,035,528 | $59,263,743 |
California School Employees Association San Jose, CA | $160,720,307 | $80,296,309 |
Prager University Foundation Sherman Oaks, CA | $86,724,321 | $65,499,557 |
The Oakland Public Education Fund Oakland, CA | $29,835,630 | $28,210,005 |
Unicare Community Health Center Inc Ontario, CA | $12,734,998 | $31,780,162 |
Spectrum Healthcare Group Inc Cottonwood, AZ | $17,862,058 | $29,292,227 |
University Studies Abroad Consortium Reno, NV | $41,233,258 | $28,044,577 |
Califa Group San Francisco, CA | $13,975,341 | $20,958,873 |