Civic Intelligence

Nalanda 20

990 • Fiscal year 2022 • EIN 36-4878144

May 01, 2021 to Apr 30, 2022 • Filed on Sep 02, 2022

Organization Profilewww.nalanda2.org
PO Box 14841Fremont, CA 94539

(408) 529-4072

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.00x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

10th percentile

-49%

Higher net margin than 10% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

95th percentile

$66,000

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 125.1% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

8th percentile

-59%

Faster asset growth than 8% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

16th percentile

-35%

Faster revenue growth than 16% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$18,034

Down $26,112 (-59%) from 2021

Net Assets

Down

$18,034

Down $26,112 (-59%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin10th percentile

Revenue

Down

$52,761

Down $28,497 (-35%) from 2021

Expenses

Up

$78,873

Up $24,609 (+45%) from 2021

Net Income

Down

-$26,112

Down $53,106 (-197%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

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

$60K$40K$20K$0Assets 2021: $44,146Liabilities 2021: $0Net Assets 2021: $44,1462021Assets 2022: $18,034Liabilities 2022: $0Net Assets 2022: $18,0342022Assets 2023: $42,148Liabilities 2023: $0Net Assets 2023: $42,1482023

Highlighted filing

2022

Assets$18,034
Liabilities$0
Net Assets$18,034
Open 2022 Filing

Operations Trend

Revenue Growth16th percentile

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

$100K$50K$0-$50KRevenue 2021: $81,258Expenses 2021: $54,264Net Income 2021: $26,9942021Revenue 2022: $52,761Expenses 2022: $78,873Net Income 2022: -$26,1122022Revenue 2023: $44,981Expenses 2023: $20,867Net Income 2023: $24,1142023

Highlighted filing

2022

Revenue$52,761
Expenses$78,873
Net Income-$26,112
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2021 to Apr 30, 2022
Signed
Sep 2, 2022
Return Version
2021v4.0
Gross Receipts
$52,761
Mission and Program Overview

Mission

Improve excellence and access in higher education. Current focus is on India. Thus, Nalanda 2.0's current focus is to make India's higher education system world-class by building a world-class multidisciplinary research university, educating stakeholders, and advising governments.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$36,002$18,034▼ $17,968
Cash and Non-Interest-Bearing Accounts$8,144--
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
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$44,146$18,034▼ $26,112
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
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
Net Assets Without Donor Restrictions$44,146$18,034▼ $26,112
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$44,146$18,034▼ $26,112
Total Liabilities and Net Assets / Fund Balance$44,146$18,034▼ $26,112
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Shailendra KumarPresidentFT$66,000$66,000

Board Members and Trustees

NameTitle
Arjun MalhotraMember, Board of Directors
Krishna SaraswatMember, Board of Directors
Deepan Raj PrabakarSecretary
Rakesh MisraTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$52,761
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$52,761
Change in Net Assets
$-26,112
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$71,386
Other Expenses$7,487
Total Fundraising Expense$1,442
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$62,700$1,980$1,320$66,000
Travel$5,786--$5,786
Payroll Taxes$5,116$162$108$5,386
Office Expenses-$592-$592
Fees for Services Accounting$513$16$11$540
Other Expenses$0$419$0$419
Information Technology$142$5$3$150
Total Functional Expenses$74,257$3,174$1,442$78,873
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
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
Yes
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

Form 990, Part VI, Section A, Line 8B

“Nalanda 2.0 is a small team with additional committees.”

Form 990, Part VI, Section B, Line 11B

“Nalanda 2.0 Board of Directors is the same as previous years, when the form was shared with the Board.”

Form 990, Part VI, Section B, Line 15

“At the time of application for 501(c)(3) in October 2017, Nalanda 2.0 Board of Directors approved the Bylaws, and the independent voting members approved President's compensation. The compensation was determined based on President's previous compensation as Senior Executive Director of Development at UC San Diego, and Senior Director, Corporate Strategic Planning at Lam Research. The total compensation (salary + benefits) is significantly lower than what the President earned in these two organizations. It was also set with the knowledge that salary would ONLY be drawn once funds have been raised. Thus, from Oct. 2016, when Nalanda 2.0 was incorporated till Jan. 2019, a period of 28 months, the President worked full-time WITHOUT drawing any salary.”

Form 990, Part VI, Section C, Line 19

“Nalanda 2.0's documents are available on request and were not shared with the public on the Nalanda 2.0 website.”

Filing and Contact Details

Filer

Filer Name
Nalanda 20
EIN
36-4878144
Phone
4085294072
Address
PO Box 14841, Fremont, CA 94539

Signing Officer

Name
Shailendra Kumar
Title
President
Phone
4085294072
Signed
2022-09-02

Organization Details

Principal Officer
Shailendra Kumar
Formed
2016
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
2
Employees
1
Volunteers
15
Raw XML AppendixShowing 400 of 452 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.

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IRS990/Desc0Building a world-class multidisciplinary research university in India: With 1.4 billion people in India, which is close to 1/6th of world's population, Nalanda 2.0's current mission of making India's higher education system world class is a win-win for India and its people and the global humanity. Artificial Intelligence (AI) and automation are expected to disrupt industries, jobs, and labor market around the world. Thus, more than ever before, higher education is going to provide a critical foundation for fulfilling lives, careers, and lifelong learning. India is also facing several mega challenges such as food, water, health, poverty, energy, environment, and climate change, which need sustainable solutions now. Unfortunately, India's higher education is in crisis. In a post-COVID-19 world, Nalanda 2.0's mission is more important and urgent than ever before. In early 2018, Nalanda 2.0 assembled an exceptional group of over 20 leaders in academia, business, and start-ups to build a world-class multidisciplinary research university in India. The team now includes over 60 leaders and professionals, who are alumni of and affiliated with 11 of the top 25 research universities in the world and bring over 600 years of full-time experience in top higher education institutions from around the world. They are based in India, Australia, Singapore, UAE, and the US, and bring wisdom, experiences, and access to a vast network of additional experts to build the university. Initially code named the University of the Future (UFI), in 2020, we named it Ekagrid. After close to three years of dedicated efforts, planning, and engaging with stakeholders, we are now poised to launch Ekagrid in 2022-2023. We have: Built an exceptional founding team consisting of Board of Directors, Chancellor, COO and CDO, Global Advisory Board, Campaign Committee, and volunteers, Developed an actionable plan, Established a Section 8 company, Selected a legal counsel, external auditor, and accounting firm that are assisting with all legal and compliance related matters, Deeply engaged with several state governments in India for land and regulatory approvals, Established a growing network of professors and researchers who are ready to partner or join the university. From April 2021 to March 2022, made steady progress despite the headwinds caused by COVID-19 variants such as Delta, the Russia-Ukraine conflict, and related economic turbulence and friction in travel. Signed two Memorandum of Understandings (MoU) with the Karnataka Government - one for acquiring 200 acres of land in Bengaluru, and second for passing the Ekagrid Private University Act. Also secured a MoU with a premier research unity for collaborating on research and education programs. Key discussions are underway for raising funds to launch Ekagrid. The expectation is that once one anchor donor makes a formal commitment, then additional donors will follow.
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IRS990/PrincipalOfficerNm0Shailendra Kumar
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IRS990/ProgSrvcAccomActy2Grp/Desc0Educating stakeholders: Before a problem can be solved it must be first acknowledged. Nalanda 2.0 is educating stakeholders on the importance and urgency of transforming India's higher education system by writing blogs and articles, giving talks and interviews, participating in panel discussions, and meeting decision makers and influencers. Shail Kumar, Founder and President, Nalanda 2.0, wrote a book on this subject titled: Building Golden India: How to unleash India's vast potential and transform its higher education system. Now. Many decision makers and influencers have read this book. In 2017, a Nobel Laureate presented this book to India's Prime Minister Narendra Modi. We have made presentations and had interactive sessions at Amazon, Salesforce, Workday, UC Berkeley and Stanford University. Been interviewed by PanIIT USA, The INDUStry Show, and news media. Given talks at the IIT Leadership Conference in the Bay Area and participated in education panels at the Berkeley India Conference and Harvard India Conference. Over 1,500 students, faculty members, influencers, and IITians have attended these talks and panel discussions. We conducted a FB Live event that has so far reached over 6000 individuals and has been viewed by over 2000 unique viewers. In addition, we have written several articles and blogs, which had over 100,000 views and over 10,000 likes and shares. In 2020-21, as part of building Ekagrid, Nalanda 2.0 is educating philanthropists and political leaders about the value of world-class multidisciplinary research universities. Starting May 1, 2021, we are longer spending any more incremental effort on this program.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Advising Governments: Policy-level interventions can have a significant impact quickly and at a large scale. With this in mind, we have met and shared ideas for transforming India's higher education system with leaders, policy makers, and influencers. This includes the Prime Minister's Office (PMO), National Institution for Transforming India (NITI) Aayog, Ministry of Human Resources Development (MHRD), New Education Policy (NEP) Committee, and several state governments. In the NEP Draft report (published June 2019), Shail Kumar, Nalanda 2.0's President, was acknowledged in the "Eminent Persons" sub-section of this report (Page 461). Several of our recommendations are incorporated in the report. There is also a growing acknowledgment of our assessment of the challenges and opportunities facing the higher education system and proposed solutions. In 2019, in partnership with the Government of National Capital Territory (NCT) of Delhi we spearheaded an effort to transform its higher education system. This included assembling a High-Level Committee consisting of leaders from academia, industry, government, and civil society from India and the US, and developing a draft report. When implemented, the recommendations in the report have the potential of making NCT of Delhi the Knowledge and Innovation Capital in the nation. In 2020-21, as part of building Ekagrid, Nalanda 2.0 is advising governments about the value of world-class multidisciplinary research universities. Starting May 1, 2021, we are longer focused on this program.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Nalanda 2.0 is a small team with additional committees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Nalanda 2.0 Board of Directors is the same as previous years, when the form was shared with the Board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2At the time of application for 501(c)(3) in October 2017, Nalanda 2.0 Board of Directors approved the Bylaws, and the independent voting members approved President's compensation. The compensation was determined based on President's previous compensation as Senior Executive Director of Development at UC San Diego, and Senior Director, Corporate Strategic Planning at Lam Research. The total compensation (salary + benefits) is significantly lower than what the President earned in these two organizations. It was also set with the knowledge that salary would ONLY be drawn once funds have been raised. Thus, from Oct. 2016, when Nalanda 2.0 was incorporated till Jan. 2019, a period of 28 months, the President worked full-time WITHOUT drawing any salary.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Nalanda 2.0's documents are available on request and were not shared with the public on the Nalanda 2.0 website.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,034
Liabilities
$0
Net assets
$18,034
Revenue
$52,761
Expenses
$78,873
Net income
-$26,112
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$42.1$0.00$42.1$45.0$20.9$24.1
2022Detailed filing. Detailed filing data is available for this year.$18.0$0.00$18.0$52.8$78.9$26.1
2021Detailed filing. Detailed filing data is available for this year.$44.1$0.00$44.1$81.3$54.3$27.0