Civic Intelligence

Asset India Foundation

EIN 20-5139364 • 501(c)3 • Jersey City, NJ

Profile

Providing english language lessons and computer lessons to girls rescued from trafficking and children of sex workers in india

111 Town Square Place Suite 1203Jersey City, NJ 07310

www.assetindiafoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

34th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

94th percentile

70%

Higher net margin than 94% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

99th percentile

993%

Faster asset growth than 99% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

1st percentile

-86%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$840,225

Up $763,140 (+990%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$840,225

Up $763,140 (+990%) from 2023

Operations
Liabilities / Revenue34th percentileNet Margin94th percentile

Revenue

Down

$697,850

Down $901,028 (-56%) from 2023

Expenses

Down

$208,173

Down $1,313,620 (-86%) from 2023

Net Income

Up

$489,677

Up $412,592 (+535%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth99th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0M$500K$0-$500KAssets 2010: $159,391Liabilities 2010: $0Net Assets 2010: $159,3912010Assets 2011: $161,769Liabilities 2011: $0Net Assets 2011: $161,7692011Assets 2012: $175,644Liabilities 2012: $0Net Assets 2012: $175,6442012Assets 2013: $96,645Liabilities 2013: $0Net Assets 2013: $96,6452013Assets 2014: $95,984Liabilities 2014: $0Net Assets 2014: $95,9842014Assets 2015: $75,534Liabilities 2015: $0Net Assets 2015: $75,5342015Assets 2016: $28,889Liabilities 2016: $0Net Assets 2016: $28,8892016Assets 2018: $19,338Liabilities 2018: $0Net Assets 2018: $19,3382018Assets 2019: $30,617Liabilities 2019: $0Net Assets 2019: $30,6172019Assets 2020: $9,260Liabilities 2020: $0Net Assets 2020: $9,2602020Assets 2021: $9,945Liabilities 2021: $0Net Assets 2021: $9,9452021Assets 2022: $0Liabilities 2022: $106Net Assets 2022: -$1062022Assets 2023: $77,085Liabilities 2023: $0Net Assets 2023: $77,0852023Assets 2024: $840,225Liabilities 2024: $0Net Assets 2024: $840,2252024

Highlighted filing

2024

Assets$840,225
Liabilities$0
Net Assets$840,225
Open 2024 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2010: $62,023Expenses 2010: $73,693Net Income 2010: -$11,6702010Revenue 2011: $17,418Expenses 2011: $15,350Net Income 2011: $2,0682011Revenue 2012: $32,455Expenses 2012: $18,580Net Income 2012: $13,8752012Revenue 2013: $4,296Expenses 2013: $83,295Net Income 2013: -$78,9992013Revenue 2014: $7,147Expenses 2014: $38,927Net Income 2014: -$31,7802014Revenue 2015: $39,050Expenses 2015: $59,500Net Income 2015: -$20,4502015Revenue 2016: $8,355Expenses 2016: $55,000Net Income 2016: -$46,6452016Revenue 2018: $1,800Expenses 2018: $5,802Net Income 2018: -$4,0022018Revenue 2019: $25,425Expenses 2019: $14,266Net Income 2019: $11,1592019Revenue 2020: $110,972Expenses 2020: $110,972Net Income 2020: $02020Revenue 2021: $538,577Expenses 2021: $537,892Net Income 2021: $6852021Revenue 2022: $63,384Expenses 2022: $73,435Net Income 2022: -$10,0512022Revenue 2023: $1,598,878Expenses 2023: $1,521,793Net Income 2023: $77,0852023Revenue 2024: $697,850Expenses 2024: $208,173Net Income 2024: $489,6772024

Highlighted filing

2024

Revenue$697,850
Expenses$208,173
Net Income$489,677
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$840,225
Liabilities
$0
Net assets
$840,225
Revenue
$697,850
Expenses
$208,173
Net income
$489,677
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.84$0.00$0.84$0.70$0.21$0.49
2023Detailed filing. Detailed filing data is available for this year.$0.08$0.00$0.08$1.60$1.52$0.08
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.06$0.07$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.54$0.54$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.11$0.11$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.03$0.01$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.00$0.01$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.01$0.06$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.08$0.00$0.08$0.04$0.06$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.01$0.04$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.00$0.08$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.00$0.18$0.03$0.02$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.16$0.00$0.16$0.02$0.02$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.16$0.00$0.16$0.06$0.07$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 28, 2025
Return Version
2024v5.2
Gross Receipts
$697,850
Mission and Program Overview

Mission

Providing english language lessons and computer lessons to girls rescued from trafficking and children of sex workers in india

Facilitating international charitable donations to support urgent and high-impact needs in India, including healthcare, education, livelihoods, and social welfare, by enabling U.S. donors to give to vetted causes through Milaap.org.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$76,899$840,225▲ $763,326
Rtn Earn Endowment Incm Other Fnds$76,899$840,225▲ $763,326
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$76,899$840,225▲ $763,326
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$76,899$840,225▲ $763,326
Total Liabilities and Net Assets / Fund Balance$76,899$840,225▲ $763,326
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Nita UmashankarDirector
Sue UmashankarDirector
Ramon UmashankarExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$697,850
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$697,850
Change in Net Assets
$489,677
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$206,593
Other Expenses$1,580
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$206,593--$206,593
Fees for Services Accounting-$1,490-$1,490
Fees for Services Other-$90-$90
Total Functional Expenses$206,593$1,580$0$208,173
International Activity

International Compliance

Foreign grant records maintained
Yes
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
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Asset India Foundation
EIN
20-5139364
In Care Of
% RAMON UMASHANKAR
Phone
5208692004
Address
111 Town Square Place Suite 1203, Jersey City, NJ 07310
Doing Business As
Milaap

Signing Officer

Name
Ray Umashankar
Title
executive director
Phone
5208692004
Signed
2025-04-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ray Umashankar
Formed
2006
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Bruce E Bernstien & Associates
Address
10440 N CENTRAL EXPRESSWAY STE 1040, DALLAS, TX 75231
Phone
2147060840
Supplemental Narrative

Additional Explanations

Describe the Process Used by Management &/or Governing Body to Review 990

“FORM 990, PART VI, SECTION B, LINE 11B: THE FORM 990 IS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTING FIRM. IT IS THEN REVIEWED by Director of Finance and then presented to CEO for review and signature before filing.”

Compliance With the Written Conflict of Interest Policy

“FORM 990, PART VI, SECTION B, LINE 12C: new employees are required to review and affirm the conflicts policy, disclose any potential conflicts and conform to a management plan created by the compliance office. Employees have a continuing obligation to disclose conflicts and conform to any ongoing conflicts management plan.”

Avail of Gov Docs, Conflict of Interest Policy, & Fin Stmts to Gen Public

“Form 990, part vi, section c, line 19: the organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Relationship

“FORM 990, PART VI, SECTION A, LINE 2: Sue Umashankar, Nita Umashankar, and Ramon Umashankar have family relationships.”

new mission and program description

“New mission and program description changed for Part III, Line 1, and Part III, Line 4a: Asset India Foundation. facilitates U.S.-based charitable giving toward urgent and high-impact causes in India. Donations received are channeled through the Milaap.org platform and disbursed to individuals and nonprofit organizations in need. Primary focus areas include medical emergencies, education for the underserved, social welfare initiatives, and livelihood support. The organization ensures transparency, compliance, and donor reporting in alignment with IRS regulations and cross-border giving requirements.”

Raw XML Appendix392 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/BooksInCareOfDetail/PhoneNum05208692004
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IRS990/BooksInCareOfDetail/USAddress/CityNm0ORO VALLEY
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0AZ
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IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
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IRS990/CashNonInterestBearingGrp/BOYAmt076899
IRS990/CashNonInterestBearingGrp/EOYAmt0840225
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt00
IRS990/CompDisqualPersonsGrp/TotalAmt00
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IRS990/CompensationProcessOtherInd0false
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IRS990/CYContributionsGrantsAmt0697850
IRS990/CYGrantsAndSimilarPaidAmt0206593
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt01580
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0489677
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt0208173
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0697850
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DeferredRevenueGrp/BOYAmt00
IRS990/DeferredRevenueGrp/EOYAmt00
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/TotalAmt00
IRS990/Desc0Facilitating Cross-Border Giving for Urgent Charitable Needs in India Enabled U.S.-based donors to contribute to urgent and high-impact causes in India through the Milaap.org platform. Funds were disbursed to vetted individuals and nonprofit organizations for medical emergencies, education, and social welfare programs. Asset India Foundation ensured transparency, compliance, and secure fund transfers to benefit underprivileged communities.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DoingBusinessAsName/BusinessNameLine1Txt0MILAAP
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/EscrowAccountLiabilityGrp/BOYAmt00
IRS990/EscrowAccountLiabilityGrp/EOYAmt00
IRS990/ExpenseAmt0206593
IRS990/FamilyOrBusinessRlnInd0true
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt01490
IRS990/FeesForServicesAccountingGrp/TotalAmt01490
IRS990/FeesForServicesLegalGrp/TotalAmt00
IRS990/FeesForServicesLobbyingGrp/TotalAmt00
IRS990/FeesForServicesManagementGrp/TotalAmt00
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt090
IRS990/FeesForServicesOtherGrp/TotalAmt090
IRS990/FeesForServicesProfFundraising/TotalAmt00
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt00
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignGrantsGrp/ProgramServicesAmt0206593
IRS990/ForeignGrantsGrp/TotalAmt0206593
IRS990/ForeignOfficeInd0false
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt00.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt10.0
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IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt110.0
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IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02006
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
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IRS990/FundraisingGrossIncomeAmt00
IRS990/GamingActivitiesInd0false
IRS990/GamingDirectExpensesAmt00
IRS990/GamingGrossIncomeAmt00
IRS990/GoverningBodyVotingMembersCnt03
IRS990/GrantAmt0206593
IRS990/GrantsPayableGrp/BOYAmt00
IRS990/GrantsPayableGrp/EOYAmt00
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
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IRS990/GrossReceiptsAmt0697850
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IRS990/MinutesOfCommitteesInd0true
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/NoListedPersonsCompensatedInd0X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART VI, SECTION B, LINE 11B: THE FORM 990 IS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTING FIRM. IT IS THEN REVIEWED by Director of Finance and then presented to CEO for review and signature before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990, PART VI, SECTION B, LINE 12C: new employees are required to review and affirm the conflicts policy, disclose any potential conflicts and conform to a management plan created by the compliance office. Employees have a continuing obligation to disclose conflicts and conform to any ongoing conflicts management plan.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990, PART VI, SECTION A, LINE 2: Sue Umashankar, Nita Umashankar, and Ramon Umashankar have family relationships.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4New mission and program description changed for Part III, Line 1, and Part III, Line 4a: Asset India Foundation. facilitates U.S.-based charitable giving toward urgent and high-impact causes in India. Donations received are channeled through the Milaap.org platform and disbursed to individuals and nonprofit organizations in need. Primary focus areas include medical emergencies, education for the underserved, social welfare initiatives, and livelihood support. The organization ensures transparency, compliance, and donor reporting in alignment with IRS regulations and cross-border giving requirements.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0DESCRIBE THE PROCESS USED BY MANAGEMENT &/OR GOVERNING BODY TO REVIEW 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1COMPLIANCE WITH THE WRITTEN CONFLICT OF INTEREST POLICY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2AVAIL OF GOV DOCS, CONFLICT OF INTEREST POLICY, & FIN STMTS TO GEN PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Relationship
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4new mission and program description
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ray Umashankar
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ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-28
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ReturnHeader/Filer/InCareOfNm0% RAMON UMASHANKAR
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BRUCE E BERNSTIEN & ASSOCIATES
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ReturnHeader/ReturnTs02025-07-22T12:53:31-05:00
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ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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