Akanksha Education Fund Inc

Nonprofit profile at a glance

EIN
133976569
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
9179306515
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$1,006,304
Expenses
$1,387,214
Assets
$2,922,986
Liabilities
$23,163

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • SHANKAR IYER (PRESIDENT)
  • BHARTI MALKANI (VICE PRESIDENT)
  • SEJAL DESAI (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SEJAL DESAI (EXECUTIVE DIRECTOR): $184,354 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support educational opportunities for underserved children in india, and raising support for and awareness of such activities in the united states.

What it reported doing in 2024

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 27 schools, serving approximately 14,700 children and 5,400 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.

Operating model

Revenue model
Donor-supported. 93% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 81% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 33
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 73.9%; rating input score 74
  • Fundraising efficiency: $4.19 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 5 of 8 controls in place; rating input score 62
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Pass
    • May suspend future funding: Pass
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Pass
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -37.9%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 2.11; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 13.3%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 73.9% of spending went to programs
  • Governance: 16 of 16 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $184K · 17 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Foreign activity oversight: 3 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 27/100.