Civic Intelligence

Avasant Foundation

EIN 46-0691011 • 501(c)3 • El Segundo, CA

Profile

The avasant foundation is an organization aiming to align corporate social responsibility initiatives for avasant and its partners by leveraging its expertise in globalization, rural ecocnomic development, skills development, and technology services.the avasant foundation's purpose is to promote efforts that will generate educational opportunities for children, reduce childhood poverty, and drive the employment of youth. One of the key initiatives, entitled "impact sourcing" is tied to avasant's relationship with the rockefeler foudation, through which the avasant foundation seeks to create sourcing related job opportunities in poor and economically challenged communities.

1960 E Grand Avenue 1050El Segundo, CA 90245

www.avasantfoundation.org

Siviq Scores

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

Liabilities / Assets

38th percentile

0.02x

Higher debt load relative to assets than 38% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

50th percentile

0.08x

Higher debt load relative to revenue than 50% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

90th percentile

53%

Higher net margin than 90% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

78th percentile

20%

Faster asset growth than 78% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

4th percentile

-55%

Faster revenue growth than 4% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,446,879

Up $237,400 (+20%) from 2023

Liabilities

Up

$32,880

Up $13,454 (+69%) from 2023

Net Assets

Up

$1,413,999

Up $223,946 (+19%) from 2023

Revenue

Down

$419,508

Down $503,848 (-55%) from 2023

Expenses

Down

$195,562

Down $49,540 (-20%) from 2023

Net Income

Down

$223,946

Down $454,308 (-67%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2014: $486,324Liabilities 2014: $12,539Net Assets 2014: $473,7852014Assets 2015: $373,186Liabilities 2015: $6,897Net Assets 2015: $366,2892015Assets 2016: $288,993Liabilities 2016: $0Net Assets 2016: $288,9932016Assets 2017: $294,348Liabilities 2017: $18,676Net Assets 2017: $275,6722017Assets 2018: $205,088Liabilities 2018: $18,676Net Assets 2018: $186,4122018Assets 2019: $221,100Liabilities 2019: $19,426Net Assets 2019: $201,6742019Assets 2020: $412,593Liabilities 2020: $19,426Net Assets 2020: $393,1672020Assets 2021: $490,768Liabilities 2021: $19,426Net Assets 2021: $471,3422021Assets 2022: $541,225Liabilities 2022: $29,426Net Assets 2022: $511,7992022Assets 2023: $1,209,479Liabilities 2023: $19,426Net Assets 2023: $1,190,0532023Assets 2024: $1,446,879Liabilities 2024: $32,880Net Assets 2024: $1,413,9992024

Highlighted filing

2024

Assets$1,446,879
Liabilities$32,880
Net Assets$1,413,999

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2014: $581,632Expenses 2014: $107,847Net Income 2014: $473,7852014Revenue 2015: $106,733Expenses 2015: $214,229Net Income 2015: -$107,4962015Revenue 2016: $185,906Expenses 2016: $263,202Net Income 2016: -$77,2962016Revenue 2017: $161,107Expenses 2017: $174,428Net Income 2017: -$13,3212017Revenue 2018: $118,507Expenses 2018: $207,767Net Income 2018: -$89,2602018Revenue 2019: $218,199Expenses 2019: $202,937Net Income 2019: $15,2622019Revenue 2020: $411,291Expenses 2020: $219,798Net Income 2020: $191,4932020Revenue 2021: $373,127Expenses 2021: $294,952Net Income 2021: $78,1752021Revenue 2022: $371,573Expenses 2022: $331,116Net Income 2022: $40,4572022Revenue 2023: $923,356Expenses 2023: $245,102Net Income 2023: $678,2542023Revenue 2024: $419,508Expenses 2024: $195,562Net Income 2024: $223,9462024

Highlighted filing

2024

Revenue$419,508
Expenses$195,562
Net Income$223,946

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 30, 2023
Return Version
2022v5.0
Gross Receipts
$415,522
Mission and Program Overview

Mission

The avasant foundation is an organization aiming to align corporate social responsibility initiatives for avasant and its partners by leveraging its expertise in globalization, rural economic development, skills development, and technology services.the avasant foundation's purpose is to promote efforts that will generate educational opportunities for children, reduce childhood poverty, and drive the employment of youth. One of the key initiatives, entitled "impact sourcing" is tied to avasant's relationship with the rockefeler foundation, through which the avasant foundation seeks to create sourcing related job opportunities in poor and economically challenged communities.

Avasant foundation is a nonprofit corporation organized and operated exclusively for charitable purposes. Avasant foundation shall be dedicated to the needs of children with a focus on poverty reduction, education, and employment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$490,768$541,225▲ $50,457
Rtn Earn Endowment Incm Other Fnds$471,342$511,799▲ $40,457
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
Total Assets$490,768$541,225▲ $50,457
Liabilities
Grants Payable$18,426$18,426→ $0
Accounts Payable and Accrued Expenses$250$10,250▲ $10,000
Other Liabilities$750$750→ $0
Total Liabilities$19,426$29,426▲ $10,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$471,342$511,799▲ $40,457
Total Liabilities and Net Assets / Fund Balance$490,768$541,225▲ $50,457

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$13,130$13,130
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kevin ParikhPresident
Chitra RajeshwariExec Director
Revenue and Support

Revenue Composition

Contributions and Grants
$165,750
Program Service Revenue
$10,416
Investment Income
$0
Other Revenue
$195,407
All Other Contributions
$165,750
Change in Net Assets
$40,457
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$191,116
Grants and Similar Amounts Paid$140,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$171,440--$171,440
Grants to Domestic Orgs$140,000--$140,000
Travel$6,072--$6,072
Other Expenses$338$45-$45
Total Functional Expenses$330,675$441$0$331,116
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
UnicefNew York, NY501(c)(3)TO SUPPORT THE ORGANIZATION'S MISSION.$100,000
UscLos Angeles, CA501(c)(3)TO SUPPORT THE UNIVERSITY'S MISSION.$40,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$239,356
Fundraising Direct Expenses$43,949
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$239,356$239,356$43,949$195,407
Total Events$239,356$239,356$43,949$195,407
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payable to Avasant$750
Governance and Compliance

Governance Checklist

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

Governance Explanations

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

We review the financial records and board meeting records to obtain the required information. A complete copy of the tax return and all related documents are provided to the board. See https://avasant.com/foundation/home

Form 990, Part VI, Section C, Line 19

Upon request to damon alvarez at the main office, information pertaining to this non-profit organization will be provided.

Filing and Contact Details

Filer

Filer Name
Avasant Foundation
EIN
46-0691011
Phone
3106433030
Address
1960 E GRAND AVENUE 1050, EL SEGUNDO, CA 90245

Signing Officer

Name
Kevin Parikh
Title
President
Phone
3106433030
Signed
2023-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Parikh
Formed
2012
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
30

Preparer

Firm
Wright Ford Young & Co
Address
16140 SAND CANYON AVENUE, IRVINE, CA 92618
Preparer
Ryan Working CPA
Phone
9499102727
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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/MissionDesc0AVASANT FOUNDATION'S MISSION IS TO IMPROVE LIVES AND COMMUNITIES BY EMPOWERING YOUTH IN EMERGING ECONOMIES THROUGH EDUCATION, EMPLOYMENT AND ENTREPRENEURSHIP. THE FOUNDATION IS COMMITTED TO THE SUSTAINABLE DEVELOPMENTS GOALS NUMBERS 1, 4,5,8,10 AND 17. THE FOUNDATION LEVERAGES AVASANT'S CONSULTANTS EXPERTISE THROUGH THE ASSOCIATE ENGAGEMENT PROGRAM TO DELIVER HIGH LEVEL DIGITAL SKILLS TRAINING WHICH LEADS TO EMPLOYMENT OPPORTUNITIES.
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IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT THE UNIVERSITY'S MISSION.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1TO SUPPORT THE ORGANIZATION'S MISSION.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0USC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1UNICEF
IRS990ScheduleI/RecipientTable/RecipientEIN0951642394
IRS990ScheduleI/RecipientTable/RecipientEIN1131760110
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03551 TROUSDALE PARKWAY SUITE 160
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1125 MAIDEN LANE 10TH FLOOR
IRS990ScheduleI/RecipientTable/USAddress/CityNm0LOS ANGELES
IRS990ScheduleI/RecipientTable/USAddress/CityNm1NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd090089
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd110038
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WE REVIEW THE FINANCIAL RECORDS AND BOARD MEETING RECORDS TO OBTAIN THE REQUIRED INFORMATION. A COMPLETE COPY OF THE TAX RETURN AND ALL RELATED DOCUMENTS ARE PROVIDED TO THE BOARD. SEE HTTPS://AVASANT.COM/FOUNDATION/HOME
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON REQUEST TO DAMON ALVAREZ AT THE MAIN OFFICE, INFORMATION PERTAINING TO THIS NON-PROFIT ORGANIZATION WILL BE PROVIDED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0490768
IRS990/TotalAssetsEOYAmt0541225
IRS990/TotalAssetsGrp/BOYAmt0490768
IRS990/TotalAssetsGrp/EOYAmt0541225
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0165750
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0441
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0330675
IRS990/TotalFunctionalExpensesGrp/TotalAmt0331116
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt019426
IRS990/TotalLiabilitiesEOYAmt029426
IRS990/TotalLiabilitiesGrp/BOYAmt019426
IRS990/TotalLiabilitiesGrp/EOYAmt029426
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0471342
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0511799
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0330675
IRS990/TotalProgramServiceRevenueAmt010416
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0195407
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt010416
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0371573
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0490768
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0541225
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt06072
IRS990/TravelGrp/TotalAmt06072
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01960 E GRAND AVENUE 1050
IRS990/USAddress/CityNm0EL SEGUNDO
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090245
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.AVASANTFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN PARIKH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03106433030
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AVASANT FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0AVAS
ReturnHeader/Filer/EIN0460691011
ReturnHeader/Filer/PhoneNum03106433030
ReturnHeader/Filer/USAddress/AddressLine1Txt01960 E GRAND AVENUE 1050
ReturnHeader/Filer/USAddress/CityNm0EL SEGUNDO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd090245
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0953288054
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WRIGHT FORD YOUNG & CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt016140 SAND CANYON AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0IRVINE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd092618
ReturnHeader/PreparerPersonGrp/PhoneNum09499102727
ReturnHeader/PreparerPersonGrp/PreparationDt02023-10-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RYAN WORKING CPA
ReturnHeader/ReturnTs02023-11-09T12:33:19-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KEVIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PARIKH
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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