Civic Intelligence

Dakshana Foundation

990 • Fiscal year 2019 • EIN 20-2861633

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 14, 2020

1220 RooseveltIrvine, CA 92620

(949) 453-0609

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

18th percentile

0.02x

Higher debt load relative to assets than 18% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.30x

Higher debt load relative to revenue than 57% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

31st percentile

-1.3%

Higher net margin than 31% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

13th percentile

$0

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

89th percentile

29%

Faster asset growth than 89% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-87%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Up

$12,763,759

Up $2,871,312 (+29%) from 2018

Net Assets

Up

$12,511,995

Up $2,825,436 (+29%) from 2018

Liabilities

Up

$251,764

Up $45,876 (+22%) from 2018

Revenue

Down

$841,235

Down $5,435,654 (-87%) from 2018

Expenses

Down

$851,855

Down $1,546,518 (-64%) from 2018

Net Income

Down

-$10,620

Down $3,889,136 (-100%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0-$10MAssets 2011: $1,651,506Liabilities 2011: -$189,010Net Assets 2011: $1,840,5162011Assets 2012: $2,495,527Liabilities 2012: $4,159Net Assets 2012: $2,491,3682012Assets 2013: $2,812,361Liabilities 2013: $5,603Net Assets 2013: $2,806,7582013Assets 2014: $3,113,921Liabilities 2014: $26,909Net Assets 2014: $3,087,0122014Assets 2015: $1,568,671Liabilities 2015: $125,312Net Assets 2015: $1,443,3592015Assets 2016: $835,266Liabilities 2016: $105,975Net Assets 2016: $729,2912016Assets 2017: $9,939,726Liabilities 2017: $145,834Net Assets 2017: $9,793,8922017Assets 2018: $9,892,447Liabilities 2018: $205,888Net Assets 2018: $9,686,5592018Assets 2019: $12,763,759Liabilities 2019: $251,764Net Assets 2019: $12,511,9952019Assets 2020: $16,801,122Liabilities 2020: $433,213Net Assets 2020: $16,367,9092020Assets 2021: $15,596,705Liabilities 2021: $2,188,748Net Assets 2021: $13,407,9572021Assets 2022: $11,793,241Liabilities 2022: $372,925Net Assets 2022: $11,420,3162022Assets 2023: $16,243,372Liabilities 2023: $280Net Assets 2023: $16,243,0922023Assets 2024: $22,288,033Liabilities 2024: $130,569Net Assets 2024: $22,157,4642024

Highlighted filing

2019

Assets$12,763,759
Liabilities$251,764
Net Assets$12,511,995

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2011: $540,6912011Expenses 2012: $574,9702012Revenue 2013: $1,154,190Expenses 2013: $838,800Net Income 2013: $315,3902013Revenue 2014: $5,077,023Expenses 2014: $4,796,769Net Income 2014: $280,2542014Revenue 2015: $696,739Expenses 2015: $2,463,943Net Income 2015: -$1,767,2042015Revenue 2016: $1,178,279Expenses 2016: $1,892,347Net Income 2016: -$714,0682016Revenue 2017: $10,870,322Expenses 2017: $3,142,185Net Income 2017: $7,728,1372017Revenue 2018: $6,276,889Expenses 2018: $2,398,373Net Income 2018: $3,878,5162018Revenue 2019: $841,235Expenses 2019: $851,855Net Income 2019: -$10,6202019Revenue 2020: $69,729Expenses 2020: $564,449Net Income 2020: -$494,7202020Revenue 2021: $2,944,153Expenses 2021: $983,284Net Income 2021: $1,960,8692021Revenue 2022: -$1,429,442Expenses 2022: $1,413,032Net Income 2022: -$2,842,4742022Revenue 2023: $3,309,747Expenses 2023: $1,185,543Net Income 2023: $2,124,2042023Revenue 2024: $1,922,657Expenses 2024: $1,109,658Net Income 2024: $812,9992024

Highlighted filing

2019

Revenue$841,235
Expenses$851,855
Net Income-$10,620
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 14, 2020
Return Version
2019v5.0
Gross Receipts
$8,063,839
Mission and Program Overview

Mission

The Foundation is a philanthropic foundation focused on alleviating poverty. It is focused on providing world-class educational opportunities to economically and socially disadvantaged gifted children from impoverished rural backgrounds in India.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,083,931$7,449,749▲ $2,365,818
Savings and Temporary Cash Investments$74,126$162,610▲ $88,484
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$9,892,447$12,763,759▲ $2,871,312
Other Assets Total$4,734,390$5,151,400▲ $417,010
Liabilities
Unsecured Notes Loans Payable$199,865$227,868▲ $28,003
Other Liabilities$6,023$23,896▲ $17,873
Total Liabilities$205,888$251,764▲ $45,876
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,686,559$12,511,995▲ $2,825,436
Total Net Assets Fund Balance$9,686,559$12,511,995▲ $2,825,436
Total Liabilities and Net Assets / Fund Balance$9,892,447$12,763,759▲ $2,871,312

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mohnish PabraiChairman
Monsoon PabraiDirector
Fahad MissmarCFO
Revenue and Support

Revenue Composition

Contributions and Grants
$379,493
Program Service Revenue
$0
Investment Income
$461,742
Other Revenue
$0
All Other Contributions
$379,493
Change in Net Assets
$-10,620
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$641,965
Other Expenses$209,890
Total Fundraising Expense$85,973
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$641,965--$641,965
Travel--$51,555$51,555
All Other Expenses$11,749$9,068$21,949$42,766
Fees for Services Accounting-$35,332-$35,332
Other Expenses-$18,603$12,469$12,469
Interest-$2,268-$2,268
Office Expenses-$283-$283
Total Functional Expenses$653,714$112,168$85,973$851,855
International Activity

International Summary

Spending
$641,965

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Pune- IndiaEducationeducational opportunities00$641,965
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Cards Payable$23,896
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

FATHER AND DAUGHTER

Form 990, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Dakshana Foundation
EIN
20-2861633
Phone
9494530609
Address
1220 ROOSEVELT, IRVINE, CA 92620

Signing Officer

Name
Mohnish Pabrai
Title
Chairman & Founder
Signed
2020-07-14
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
0
Employees
0

Preparer

Firm
Chugh Cpas Llp
Address
15925 Carmenita Rd, Cerritos, CA 90703
Preparer
Ramesh Patel
Phone
5622291220
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IRS990/Desc0Dakshanas specific purpose is to identify destitute but intellectually gifted orphans and underprivileged children in India. The Foundation will build residential school(s) in India and sending these gifted orphans to these schools. Dakshana will pay for all tuition and living expenses through grade 12 for all such selected Dakshana scholars.The Foundation will also form a partnership with leading student loan lenders. Afterhigh school, Dakshana will, if required, co-sign student loans for all Dakshana scholars to attend any accredited university on a combination of scholarships and loans.The Foundation hopes to build a very deep relationship with the Dakshana scholarsthroughout their entire lives. Dakshana will impose no legal obligation on the scholars but clearly outline a moral obligation to give back 10% of lifetime earnings to the Foundation so that more scholars can be supported by the Foundation. The Foundations vision is that the scholars of today will eventually sponsor a scholar in the future. This will ultimately result in production of more Dakshana scholars every year.In India, every year, less than 2,000 gifted scholars graduated from the Indian Institute of Technology, one of the leading schools in India. But these small numbers have created a sizable impact on the countrys economy. Starting with one scholar in 2006, Dakshana envisions supporting hundreds of new scholars each year after two or three decades with the source of funding eventually coming from the beneficiaries of yesterday.The Foundation will encourage donors to support a specific scholar for a year or two or through the entire program. This will provide an opportunity for the donor to see the impact of their donations on an orphans life. Under Dakshanas supervision, such donors can foster a nurturing parent-like relationship with the scholar.
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IRS990ScheduleA/PublicSupportPY170Pct00.10100
IRS990ScheduleA/PublicSupportTotal170Amt02024718
IRS990ScheduleA/SubstantialContributorsTotAmt017274546
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0379493
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt05927707
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt010836149
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01336669
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0819246
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt019299264
IRS990ScheduleA/TotalSupportAmt019740030
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Advance
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt023896
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Credit Cards Payable
IRS990ScheduleD/TotalBookValueOtherAssetsAmt05151400
IRS990ScheduleD/TotalLiabilityAmt023896
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0641965
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Pune- India
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0educational opportunities
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Education
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0641965
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0Education
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0India
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalSpentAmt0641965
IRS990ScheduleF/TotalOtherOrgCnt01
IRS990ScheduleF/TotalSpentAmt0641965
IRS990ScheduleF/TransferToForeignCorpInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FATHER AND DAUGHTER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt09892447
IRS990/TotalAssetsEOYAmt012763759
IRS990/TotalAssetsGrp/BOYAmt09892447
IRS990/TotalAssetsGrp/EOYAmt012763759
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0379493
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt085973
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0112168
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0653714
IRS990/TotalFunctionalExpensesGrp/TotalAmt0851855
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0205888
IRS990/TotalLiabilitiesEOYAmt0251764
IRS990/TotalLiabilitiesGrp/BOYAmt0205888
IRS990/TotalLiabilitiesGrp/EOYAmt0251764
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09686559
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt012511995
IRS990/TotalProgramServiceExpensesAmt0653714
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0430318
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt031424
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0841235
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09892447
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012763759
IRS990/TravelGrp/FundraisingAmt051555
IRS990/TravelGrp/TotalAmt051555
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0199865
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0227868
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01220 ROOSEVELT 200
IRS990/USAddress/CityNm0IRVINE
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd0926203667
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0www.dakshana.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MOHNISH PABRAI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman & Founder
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DAKSHANA FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0DAKS
ReturnHeader/Filer/EIN0202861633
ReturnHeader/Filer/PhoneNum09494530609
ReturnHeader/Filer/USAddress/AddressLine1Txt01220 ROOSEVELT
ReturnHeader/Filer/USAddress/CityNm0IRVINE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092620
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472202224
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CHUGH CPAS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt015925 Carmenita Rd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Cerritos
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd090703
ReturnHeader/PreparerPersonGrp/PhoneNum05622291220
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Ramesh Patel
ReturnHeader/ReturnTs02020-07-14T13:23:16-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$22.3$0.13$22.2$1.92$1.11$0.81
2023Detailed filing. Detailed filing data is available for this year.$16.2$0.00$16.2$3.31$1.19$2.12
2022Detailed filing. Detailed filing data is available for this year.$11.8$0.37$11.4$1.43$1.41$2.84
2021Detailed filing. Detailed filing data is available for this year.$15.6$2.19$13.4$2.94$0.98$1.96
2020Detailed filing. Detailed filing data is available for this year.$16.8$0.43$16.4$0.07$0.56$0.49
2019Detailed filing. Detailed filing data is available for this year.$12.8$0.25$12.5$0.84$0.85$0.01
2018Detailed filing. Detailed filing data is available for this year.$9.89$0.21$9.69$6.28$2.40$3.88
2017Detailed filing. Detailed filing data is available for this year.$9.94$0.15$9.79$10.9$3.14$7.73
2016Detailed filing. Detailed filing data is available for this year.$0.84$0.11$0.73$1.18$1.89$0.71
2015Detailed filing. Detailed filing data is available for this year.$1.57$0.13$1.44$0.70$2.46$1.77
2014Detailed filing. Detailed filing data is available for this year.$3.11$0.03$3.09$5.08$4.80$0.28
2013Detailed filing. Detailed filing data is available for this year.$2.81$0.01$2.81$1.15$0.84$0.32
2012Detailed filing. Detailed filing data is available for this year.$2.50$0.00$2.49$0.57
2011Detailed filing. Detailed filing data is available for this year.$1.65$0.19$1.84$0.54