Civic Intelligence

Avasant Foundation

990 • Fiscal year 2015 • EIN 46-0691011

Jan 01, 2015 to Dec 31, 2015 • Filed on Mar 24, 2016

Organization Profilewww.avasantfoundation.org
1960 E Grand AveEl Segundo, CA 90245

(310) 643-3030

Siviq Scores

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

Liabilities / Assets

65th percentile

0.02x

Higher debt load relative to assets than 65% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

78th percentile

0.06x

Higher debt load relative to revenue than 78% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

5th percentile

-101%

Higher net margin than 5% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

99th percentile

$120,778

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 113.2% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

18th percentile

-23%

Faster asset growth than 18% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

3rd percentile

-82%

Faster revenue growth than 3% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$373,186

Down $113,138 (-23%) from 2014

Net Assets

Down

$366,289

Down $107,496 (-23%) from 2014

Liabilities

Down

$6,897

Down $5,642 (-45%) from 2014

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin5th percentile

Revenue

Down

$106,733

Down $474,899 (-82%) from 2014

Expenses

Up

$214,229

Up $106,382 (+99%) from 2014

Net Income

Down

-$107,496

Down $581,281 (-123%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$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

2015

Assets$373,186
Liabilities$6,897
Net Assets$366,289
Open 2015 Filing

Operations Trend

Revenue Growth3rd percentile

Revenue, expenses, and net income across loaded years, with this 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

2015

Revenue$106,733
Expenses$214,229
Net Income-$107,496
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Mar 24, 2016
Return Version
2015v2.0
Gross Receipts
$214,488
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$225,424$373,142▲ $147,718
Pledges and Grants Receivable$260,900$0▼ $260,900
Prepaid Expenses and Deferred Charges-$44-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$486,324$373,186▼ $113,138
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$12,539$6,897▼ $5,642
Total Liabilities$12,539$6,897▼ $5,642
Net Assets / Fund Balance
Temporarily Rstr Net Assets$450,005--
Unrestricted Net Assets$23,780$366,289▲ $342,509
Total Net Assets Fund Balance$473,785$366,289▼ $107,496
Total Liabilities and Net Assets / Fund Balance$486,324$373,186▼ $113,138
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Chitra RajeshwariExec DirectorFT$120,778$120,778

Board Members and Trustees

NameTitle
Kevin ParikhPresident
Ravi MahalingamSecretary
Robert W RandophTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$12,321
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$94,412
All Other Contributions
$12,321
Change in Net Assets
$-107,496
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$133,490
Grants and Similar Amounts Paid$74,000
Other Expenses$6,739
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$122,041--$122,041
Grants to Domestic Orgs$74,000--$74,000
Payroll Taxes$11,449--$11,449
Other Expenses$1,510$972-$972
All Other Expenses$479$90-$569
Total Functional Expenses$211,521$2,708$0$214,229
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
American Indian FoundationNew York, NY-General Fund$25,000
Clinton Global InitiativeNew York, NY-General Fund$20,000
Business Process Industry AssWaltham, MA-General Fund$16,000
Global India FundMc Lean, VA-General Fund$10,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$202,167
Fundraising Direct Expenses$107,755
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$202,167$202,167$60,462$141,705
Total Events$202,167$202,167$107,755$94,412
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

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

“2014 was the first year of activity. Previously no documents were made available to the public.”

Filing and Contact Details

Filer

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

Signing Officer

Name
Kevin Parikh
Title
President
Signed
2016-03-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Parikh
Formed
2012
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
0
Employees
4

Preparer

Firm
Kiyohara & Takahashi LLP
Address
6055 E Washington Blvd Ste 690, Commerce, CA 90040
Preparer
Chris Kiyohara CPA
Phone
3232781300
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IRS990ScheduleA/Total509Grp/TotalAmt0684805
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0214488
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0470317
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0684805
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
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0107755
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF TOURNAMENT
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0202167
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0202167
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0202167
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0202167
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt094412
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt060462
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt060462
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt047293
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt047293
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt025000
IRS990ScheduleI/RecipientTable/CashGrantAmt116000
IRS990ScheduleI/RecipientTable/CashGrantAmt220000
IRS990ScheduleI/RecipientTable/CashGrantAmt310000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL FUND
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1GENERAL FUND
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2GENERAL FUND
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3GENERAL FUND
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0AMERICAN INDIAN FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1BUSINESS PROCESS INDUSTRY ASS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2CLINTON GLOBAL INITIATIVE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3GLOBAL INDIA FUND
IRS990ScheduleI/RecipientTable/RecipientEIN0134159765
IRS990ScheduleI/RecipientTable/RecipientEIN1142005694
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1307 WAVERLY OAKS RD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt21271 AVENUE OF THE AMERICAS
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt36326 OLD CHESTERBROOK RD
IRS990ScheduleI/RecipientTable/USAddress/CityNm0NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/CityNm1WALTHAM
IRS990ScheduleI/RecipientTable/USAddress/CityNm2NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/CityNm3MC LEAN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3VA
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd102452
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd210020
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IRS990ScheduleI/Total501c3OrgCnt04
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12014 WAS THE FIRST YEAR OF ACTIVITY. PREVIOUSLY NO DOCUMENTS WERE MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0205785813
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0CONSULTING
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0EL SEGUNDO
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd090245
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
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IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
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IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt025000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt110000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt25000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt31000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ESTIMATE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1ESTIMATE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2ESTIMATE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt3ACTUAL
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1AVASANT LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2AVASANT LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3AVASANT LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0l
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1n
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2o
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt3p
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
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IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0450005
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0486324
IRS990/TotalAssetsEOYAmt0373186
IRS990/TotalAssetsGrp/BOYAmt0486324
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt012321
IRS990/TotalEmployeeCnt04

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$373,186
Liabilities
$6,897
Net assets
$366,289
Revenue
$106,733
Expenses
$214,229
Net income
-$107,496
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.45$0.03$1.41$0.42$0.20$0.22
2023Summary only. Only limited summary data is available for this year.$1.21$0.02$1.19$0.92$0.25$0.68
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.03$0.51$0.37$0.33$0.04
2021Summary only. Only limited summary data is available for this year.$0.49$0.02$0.47$0.37$0.29$0.08
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.02$0.39$0.41$0.22$0.19
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$0.02$0.20$0.22$0.20$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.21$0.02$0.19$0.12$0.21$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.29$0.02$0.28$0.16$0.17$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.29$0.00$0.29$0.19$0.26$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.37$0.01$0.37$0.11$0.21$0.11
2014Summary only. Only limited summary data is available for this year.$0.49$0.01$0.47$0.58$0.11$0.47