2024-12-24T01:57:12-06:00 2024-03-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-04-01 133976569 AKANKSHA EDUCATION FUND INC AKAN 9179306515 PO BOX 2038 NEW YORK NY 10113 FALGUNI MALKANI TREASURER 9179306515 2024-12-24 1 1 EVA MRUK P00543254 9143818900 2024-12-24 2023 2024-10-15 13:58:12Z RAMESH SRINIVASAN PO BOX 2038 NEW YORK NY 10113 4088958 0 X WWW.AKANKSHAFUND.ORG X 1996 NY 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. 17 17 3 26 0 0 2565148 2224113 0 0 23333 90350 -8372 -127868 2580109 2186595 1480171 1973159 0 0 271412 301801 0 0 155583 146389 198671 1897972 2473631 682137 -287036 3590151 3316934 20039 36917 3570112 3280017 X TO SUPPORT EDUCATIONAL OPPORTUNITIES FOR UNDERDESERVED CHILDREN IN INDIA, AND RAISING SUPPORT FOR AND AWARENESS OF SUCH ACTIVITIES IN THE UNITED STATES. 0 0 2128135 1973159 0 AKANKSHA EDUCATION FUND 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. CURRENTLY, 'THE SCHOOL PROJECT' OPERATES 26 SCHOOLS, SERVING APPROXIMATELY 14,000 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. AKANKSHA EDUCATION FUND SUPPORTS ALUMNI FROM THE AKANKSHA FOUNDATION FUNDED SCHOOLS PURSUING HIGHER EDUCATION IN THE UNITED STATES. SERVICES INCLUDE MENTORING, CAREER GUIDANCE AND ACCESS TO REMOTE HOST FAMILIES. 2128135 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9 0 3 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA FL IL MA NJ NY NC PA X X X FALGUNI MALKANI 2123621943 120 EAST 29TH ST 1C NEW YORK NY 10016 SHANKAR IYER PRESIDENT 5.00 X X 0 0 0 BHARTI MALKANI VICE PRESIDENT 2.00 X X 0 0 0 KATE SHOEMAKER SECRETARY 2.00 X X 0 0 0 FALGUNI MALKANI TREASURER 5.00 X X 0 0 0 NYMRATA ADVANI DIRECTOR 1.00 X 0 0 0 REENA BATRA DIRECTOR 1.00 X 0 0 0 LORIE BROSER DIRECTOR THRU 4/23 1.00 X 0 0 0 PULKESHI JAPE DIRECTOR 1.00 X 0 0 0 SACHIN JINDAL DIRECTOR 1.00 X 0 0 0 NATHALIE JOSEPH DIRECTOR 1.00 X 0 0 0 MADDY KULKARNI DIRECTOR 1.00 X 0 0 0 RUYINTAN MEHTA DIRECTOR 1.00 X 0 0 0 ANJALI MELWANI DIRECTOR 1.00 X 0 0 0 AMIR MIRZA DIRECTOR 1.00 X 0 0 0 MEDHA PRAKASH DIRECTOR 1.00 X 0 0 0 SRIVIDYA PRAKASH DIRECTOR 1.00 X 0 0 0 SARAH H ROBERTS DIRECTOR 1.00 X 0 0 0 RAMESH SRINIVASAN DIRECTOR 1.00 X 0 0 0 SEJAL DESAI EXECUTIVE DIRECTOR 40.00 X 165637 0 9619 165637 0 9619 1 0 1 0 0 785856 24755 1413502 15869 2224113 83113 83113 1738532 1731295 7237 7237 7237 43200 785856 171068 -127868 -127868 2186595 0 0 -37518 57500 57500 1915659 1915659 177599 90575 41746 45278 96894 51655 19095 26144 4893 4893 1071 1071 21344 2293 6545 12506 60245 60245 75983 34370 41613 350 350 25694 7214 18480 9748 8483 1265 17905 5560 3506 8839 1394 420 974 PROFESSIONAL DEVELOPMEN 7218 7218 MISCELLANEOUS EXPENSES 134 134 2473631 2128135 189913 155583 139766 109195 2253580 235424 1161716 1222665 1389 1101 10017 1748549 23683 0 3590151 3316934 20039 36917 20039 36917 X 2385255 2057902 1184857 1222115 3570112 3280017 3590151 3316934 X -287036 -3059 X X 0 1 X 1 0 X 1738623 1657367 2857995 2562089 2224113 11040187 1738623 1657367 2857995 2562089 2224113 11040187 2047698 8992489 31934 4182 843 24010 83113 144082 11184269 0.80400 0.74870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 2186461 0 2186461 134 134 2186595 2476556 3059 3059 2473497 134 134 2473631 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 2021. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF EXPENSES TO PART IX 134. PART XII, LINE 2D - OTHER ADJUSTMENTS: PLEDGE WRITE-OFF 3,059. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF EXPENSES TO PART IX 134. 1 SOUTH ASIA 0 0 GRANTMAKING 1915659 0 0 0 0 0 0 1915659 0 1915659 SOUTH ASIA SUPPORT FOR THE GRANTEE'S EDUCATIONAL PROGRAMS 1915659 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 (IN THE CASE OF THE FUND, PRINCIPALLY IN INDIA) BEGIN BEFORE A GRANT IS APPROVED. FORMAL GRANT APPLICATIONS ARE RECEIVED IN WRITING AND REVIEWED BY THE FUND'S STAFF AND FINANCIAL CONTROLS COMMITTEE (FCC) OF THE BOARD. THEY WILL SCHEDULE CALLS WITH THE GRANT APPLICANT AND MAY ALSO SEND A LIST OF CLARIFYING QUESTIONS. UNDER THE GRANT APPLICATION, SPECIFIC USES FOR THE FUNDS SOUGHT MAY BE DISCLOSED, AND SUCH USES ARE FURTHER RESTRICTED UNDER THE GRANT AGREEMENT IN ORDER TO REQUIRE CHARITABLE USE UNDER U.S. STANDARDS. THE GRANT APPROVAL PROCESS REQUIRES APPROVAL AT THE FCC MEETING AND THEN APPROVAL AT BOARD MEETING OR VIA EMAIL. THE GRANT AGREEMENT, AMONG OTHER THINGS, ALSO REQUIRES DETAILED PERIODIC REPORTING FROM THE GRANT RECIPIENT TO THE FUND ON THE ACTUAL USE OF THE GRANT FUNDS AND OTHER RELATED MATTERS, AUTHORIZED ACCESS BY THE FUND TO THE RECIPIENT'S RELEVANT BOOKS AND RECORDS TO VERIFY COMPLIANCE WITH THE GRANT AGREEMENT, AUTHORIZED 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 GENERALLY ACCEPTED ACCOUNTING PRINCIPLES AUDITED FINANCIAL STATEMENTS. SIGNATURE EVENT 829056 785856 43200 38043 92924 6566 33535 829056 785856 43200 38043 92924 6566 33535 171068 -127868 1 ONE WORLD NETWORK OF SCHOOLS 1 EAST ERIE STREET SUITE 525 CHICAGO IL 606112980 880966029 501(C)(3) 57500 0 TO SUPPORT THE ORGANIZATIONAL NEEDS 1 0 PART I, LINE 2: A REPORT ON THE ONE WORLD'S PROGRESS IN ACCOMPLISHING THE PURPOSES OF THE GRANT, TOGETHER WITH A COMPLETE VERBAL AND WRITTEN REPORT ON THE EXPENDITURE AND UTILIZATION OF THE AVAILABLE FUNDS FROM THE GRANT AND THE NUMBER AND A DESCRIPTION OF THE PERSONS BENEFITING FROM THE GRANT AT THE END OF THE GRANT PERIOD. X X X X 0 0 0 0 0 0 0 0 0 SEJAL DESAI EXECUTIVE DIRECTOR 165637 0 0 0 0 0 9619 0 0 0 175256 0 0 0 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. 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. FORM 990, PART XI, LINE 9: PLEDGE WRITE-OFF -3,059. 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.