Akanksha Education Fund Inc

“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.”

“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.”

“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 2025.”

“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.”

“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.”