Civic Intelligence

Project Akilah Inc.

990 • Fiscal year 2021 • EIN 26-0770655

Sep 01, 2020 to Aug 31, 2021 • Filed on Mar 31, 2022

3690 W Gandy Blvd STE 510Tampa, FL 33611

(917) 719-3110

Siviq Scores

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

Liabilities / Assets

76th percentile

0.33x

Higher debt load relative to assets than 76% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

74th percentile

0.35x

Higher debt load relative to revenue than 74% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

58th percentile

17%

Higher net margin than 58% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

56th percentile

13%

Faster asset growth than 56% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

40th percentile

4.9%

Faster revenue growth than 40% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$3,270,009

Up $363,335 (+13%) from 2020

Net Assets

Up

$2,189,776

Up $452,906 (+26%) from 2020

Liabilities

Down

$1,080,233

Down $89,571 (-7.7%) from 2020

Revenue

Up

$3,129,345

Up $147,567 (+4.9%) from 2020

Expenses

Down

$2,595,723

Down $10,907 (-0.4%) from 2020

Net Income

Up

$533,622

Up $158,474 (+42%) from 2020

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $516,243Liabilities 2011: $69,418Net Assets 2011: $446,8252011Assets 2012: $892,712Liabilities 2012: $326,318Net Assets 2012: $566,3942012Assets 2013: $1,472,887Liabilities 2013: $352,203Net Assets 2013: $1,120,6842013Assets 2014: $3,084,085Liabilities 2014: $622,692Net Assets 2014: $2,461,3932014Assets 2015: $2,232,663Liabilities 2015: $604,870Net Assets 2015: $1,627,7932015Assets 2017: $1,266,473Liabilities 2017: $507,510Net Assets 2017: $758,9632017Assets 2018: $1,276,587Liabilities 2018: $355,393Net Assets 2018: $921,1942018Assets 2019: $1,929,170Liabilities 2019: $678,510Net Assets 2019: $1,250,6602019Assets 2020: $2,906,674Liabilities 2020: $1,169,804Net Assets 2020: $1,736,8702020Assets 2021: $3,270,009Liabilities 2021: $1,080,233Net Assets 2021: $2,189,7762021Assets 2022: $2,561,878Liabilities 2022: $894,953Net Assets 2022: $1,666,9252022Assets 2023: $946,701Liabilities 2023: $181,659Net Assets 2023: $765,0422023Assets 2024: $512,890Liabilities 2024: $179,045Net Assets 2024: $333,8452024

Highlighted filing

2021

Assets$3,270,009
Liabilities$1,080,233
Net Assets$2,189,776

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $690,9462011Expenses 2012: $730,4192012Revenue 2013: $1,811,409Expenses 2013: $965,648Net Income 2013: $845,7612013Revenue 2014: $3,055,993Expenses 2014: $1,949,777Net Income 2014: $1,106,2162014Revenue 2015: $1,694,276Expenses 2015: $2,394,307Net Income 2015: -$700,0312015Revenue 2017: $2,176,513Expenses 2017: $2,396,364Net Income 2017: -$219,8512017Revenue 2018: $3,779,166Expenses 2018: $3,616,929Net Income 2018: $162,2372018Revenue 2019: $3,370,054Expenses 2019: $3,039,375Net Income 2019: $330,6792019Revenue 2020: $2,981,778Expenses 2020: $2,606,630Net Income 2020: $375,1482020Revenue 2021: $3,129,345Expenses 2021: $2,595,723Net Income 2021: $533,6222021Revenue 2022: $1,850,415Expenses 2022: $2,409,869Net Income 2022: -$559,4542022Revenue 2023: $874,487Expenses 2023: $1,849,617Net Income 2023: -$975,1302023Revenue 2024: $305,383Expenses 2024: $734,424Net Income 2024: -$429,0412024

Highlighted filing

2021

Revenue$3,129,345
Expenses$2,595,723
Net Income$533,622
Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Mar 31, 2022
Return Version
2020v4.1
Gross Receipts
$3,143,409
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,484,070$1,536,855▲ $52,785
Accounts Receivable$674,161$725,430▲ $51,269
Cash and Non-Interest-Bearing Accounts$246,749$333,880▲ $87,131
Land, Buildings, and Equipment, Net$148,000$308,146▲ $160,146
Pledges and Grants Receivable$230,648$240,155▲ $9,507
Prepaid Expenses and Deferred Charges$82,590$86,615▲ $4,025
Investments in Publicly Traded Securities$40,456$38,928▼ $1,528
Total Assets$2,906,674$3,270,009▲ $363,335
Liabilities
Other Liabilities$1,038,137$961,701▼ $76,436
Accounts Payable and Accrued Expenses$131,667$118,532▼ $13,135
Total Liabilities$1,169,804$1,080,233▼ $89,571
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,303,028$1,416,868▲ $113,840
Net Assets With Donor Restrictions$433,842$772,908▲ $339,066
Total Net Assets Fund Balance$1,736,870$2,189,776▲ $452,906
Total Liabilities and Net Assets / Fund Balance$2,906,674$3,270,009▲ $363,335

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$308,146--
Equipment-$11,417-
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mary K VonaBoard Chair
Karen ShermanPresident
Amanda ArchDirector
Amy PritchardDirector
Annette T AkmanDirector
David HughesDirector
Marie-chantal UwanyiligiraDirector
Merrin JenkinsDirector
Paula CordeiroDirector
Portia DurbinDirector
Maria MiracleExecutive Director
Elizabeth D DavisChief Executive Officer
Pamela WilliamsChief Operating Officer
Michael CavanaughSecretary
Hank PariseauTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,329,973
Program Service Revenue
$1,651,461
Investment Income
$930
Other Revenue
$146,981
All Other Contributions
$1,329,973
Change in Net Assets
$533,622

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,129,345
Total Revenue per Audited Statements
$3,129,345
Total Revenue per Form 990
$3,129,345
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,782,734
Salaries, Compensation, and Employee Benefits$709,417
Total Fundraising Expense$624,210
Other Expenses$103,572
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$1,782,734--$1,782,734
Other Salaries and Wages-$102,049$531,462$633,511
Fees for Services Legal-$28,784$26,496$55,280
Other Employee Benefits-$15,343$23,892$39,235
Payroll Taxes-$11,661$25,010$36,671
Office Expenses-$17,177-$17,177
Conferences and Meetings--$14,064$14,064
Fees for Services Accounting-$9,950-$9,950
Fees for Services Other-$3,616$2,258$5,874
Advertising-$139$969$1,108
Occupancy-$38$37$75
Travel-$22$22$44
Total Functional Expenses$1,782,734$188,779$624,210$2,595,723

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,595,723
Total Expenses per Audited Statements$2,595,723
Total Expenses per Form 990$2,595,723
International Activity

International Summary

Offices
1
Employees
53
Spending
$1,180,868

International Compliance

Foreign grant records maintained
No
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
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-Saharan AfricaGrant makingSupport of Womens E153$1,180,868
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$161,045
Fundraising Direct Expenses$14,064
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraiser--$14,064-
Total Events--$14,064$-14,064
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Student Tuition Deferment Program$598,761
Long Term Liabilities$230,595
Due to Davis College & Davis Edu$98,054
Sponsorship Payable - Delta Edu$34,291
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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

Governance Explanations

Officer directors etc family relationship Part VI line 2

Elizabeth Dearborn Davis and David Hughes are married.

Form 990 governing body review Part VI line 11

The Director of Financial Operartions, Finance Committee, Chief Operating officer and President review the 990 and all attached schedules. It is then forwarded to all other board members for their review and feedback prior to filing.

Conflict of interest policy compliance Part VI line 12C

Board members sign a conflict of interest statement annually.

Governing documents etc available to public Part VI line 19

The Governing Documents, Conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Project Akilah Inc
EIN
26-0770655
Address
3690 W Gandy Blvd STE 510, Tampa, FL 33611
Doing Business As
Akilah Foundation

Signing Officer

Name
Maria Miracle
Title
Executive Direc
Phone
9177193110
Signed
2022-03-31
Discuss with paid preparer
Yes

Organization Details

Formed
2007
Legal Domicile
Fl
Voting Board Members
12
Independent Board Members
10
Employees
5
Volunteers
29

Preparer

Firm
Hallmark CPA Group LLC
Address
710 Oakfield Drive Suite 262, Brandon, FL 33511
Preparer
Andrew J Hall
Phone
8132830642
Supplemental Narrative

Additional Explanations

General explanation attachment

Part 1, Line 1 Mission (Pg1)Project Akilah, Inc. d/b/a Akilah Foundations mission is to support educational opportunities that allow future leaders to champion opportunity and sustainability in solving the worlds most pressing challenges. The Akilah Foundation provides professional and financial support to the Akilah Institute and Davis College. Akilah is Rwandas pre-eminent institute for womens leadership and career development. Since 2010, Akilah has educated more than 2,700 young women in diploma programs linked to high growth economic sectors, including information systems, business management and entrepreneurship, and hospitality management. Akilah recently launched Davis College to extend its accessible and affordable education model to young men and women across Part 1, Line 1 Mission (Pg2)East Africa. Akilah and Daviss partners range from innovative start-ups to global corporations and provide students the opportunity to apply their leadership skills to real world problems through case studies, research, and internships.Our academic programs at Akilah and Davis combine competency-based (CBE) education with a customized, data-driven learning model. CBE is an outcomes-based, student-centered approach to learning through proven mastery of specific competencies. Students gain practical experience and the tools needed to thrive in the workforce, and in life. Part 1, Line 1 Mission Statement (Pg3)This approach has led to demonstrative results for students and alumni, over 50 percent of whom come from rural areas; 75 percent were unemployed prior to enrolling; and 29 percent are from the lowest socioeconomic strata in Rwanda, with inconsistent access to food, shelter, and employment. Seventy-eight percent are among the first generation in their family to complete higher education. Specifically: Seventy-two percent of graduates secure employment within six months of graduation Graduates experienced a 61 percent growth in income between their first job after graduation to their current job. More than 81 percent of graduates are supporting at least one individual or family member financially Part 1, Line 1 Mission (Pg4)This success is rooted in the institutions ability to not only prepare young women with the requisite technical skills to compete for the jobs of today and tomorrow, but to instill in them the knowledge, skills, values, and confidence to effect change in their workplaces, households, and communities. Their ability to analyze, innovate, and problem solve are just a few of the reasons that Akilah graduates are pursued for highly-coveted positions in the private sector. And their employment ensures that these young women become economically independent and can invest in their families and societies. Part III, Line 1 Mission-Statement of Program Service Accomplishments (Pg1)Nearly 300 students graduated from Akilah during its seventh graduation ceremony in November 2019. The Akilah campus in Kigali currently serves 1,200 students, and Akilah and Davis collectively have more than 2,700 students and alumni. This year, Akilah celebrates 10 years of supporting a number of critical innovations. Akilah has developed three accredited diplomas with proprietary curriculum, a technology platform to match students and graduates with career opportunities, a blended learning academic model, the launch of a professional development institute to train faculty in competency-based education and student-centered methodology, and most importantly, an empowering and nurturing campus culture (Cont.) Part III, Line 1 Mission-Statement of Program Service Accomplishments (Pg2) that celebrates creativity, innovation, and servant leadership. The impact of the Akilah Foundation is rooted in our commitment to support educational initiatives that are both life-changing and affordable.In November 2019, Akilah won the WISE Award from the Qatar Foundation for education innovation. Part III, Line 4a Statement of Program Service Accomplishments (Pg1)S

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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt10SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt11TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12Executive Director
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.51$0.18$0.33$0.31$0.73$0.43
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.95$0.18$0.77$0.87$1.85$0.98
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.56$0.89$1.67$1.85$2.41$0.56
2021Detailed filing. Detailed filing data is available for this year.$3.27$1.08$2.19$3.13$2.60$0.53
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.91$1.17$1.74$2.98$2.61$0.38
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.93$0.68$1.25$3.37$3.04$0.33
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.28$0.36$0.92$3.78$3.62$0.16
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.27$0.51$0.76$2.18$2.40$0.22
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.23$0.60$1.63$1.69$2.39$0.70
2014Detailed filing. Detailed filing data is available for this year.$3.08$0.62$2.46$3.06$1.95$1.11
2013Detailed filing. Detailed filing data is available for this year.$1.47$0.35$1.12$1.81$0.97$0.85
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.89$0.33$0.57$0.73
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.07$0.45$0.69