Civic Intelligence

Avasant Foundation

990 • Fiscal year 2018 • EIN 46-0691011

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

Organization ProfileWWW.AVASANTFOUNDATION.ORG
1960 E Grand Avenue No 1050El Segundo, CA 90245

(310) 643-3030

Siviq Scores

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

Liabilities / Assets

78th percentile

0.09x

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

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

86th percentile

0.16x

Higher debt load relative to revenue than 86% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

6th percentile

-75%

Higher net margin than 6% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

99th percentile

$120,907

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 102.0% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

15th percentile

-30%

Faster asset growth than 15% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

19th percentile

-26%

Faster revenue growth than 19% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$205,088

Down $89,260 (-30%) from 2017

Net Assets

Down

$186,412

Down $89,260 (-32%) from 2017

Liabilities

Flat

$18,676

Flat from 2017

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin6th percentile

Revenue

Down

$118,507

Down $42,600 (-26%) from 2017

Expenses

Up

$207,767

Up $33,339 (+19%) from 2017

Net Income

Down

-$89,260

Down $75,939 (-570%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth15th 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

2018

Assets$205,088
Liabilities$18,676
Net Assets$186,412
Open 2018 Filing

Operations Trend

Revenue Growth19th 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

2018

Revenue$118,507
Expenses$207,767
Net Income-$89,260
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$211,863
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$249,348$205,088▼ $44,260
Rtn Earn Endowment Incm Other Fnds$275,672$186,412▼ $89,260
Pledges and Grants Receivable$45,000--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$294,348$205,088▼ $89,260
Liabilities
Grants Payable$18,426$18,426→ $0
Accounts Payable and Accrued Expenses$250$250→ $0
Total Liabilities$18,676$18,676→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$275,672$186,412▼ $89,260
Total Liabilities and Net Assets / Fund Balance$294,348$205,088▼ $89,260
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Chitra RajeshwariExec DirectorFT$120,907$120,907

Board Members and Trustees

NameTitle
Kevin ParikhPresident
Ravi MahalingamSecretary
Robert W RandophTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$118,507
Change in Net Assets
$-89,260
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Total Fundraising Expense$130,273
Salaries, Compensation, and Employee Benefits$130,258
Other Expenses$52,509
Grants and Similar Amounts Paid$25,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons--$120,907$120,907
Grants to Domestic Orgs$25,000--$25,000
Travel$20,605--$20,605
Payroll Taxes--$9,351$9,351
Office Expenses-$1,412-$1,412
Other Expenses$1,504$801-$801
All Other Expenses-$359-$359
Information Technology$242$45$15$302
Total Functional Expenses$73,440$4,054$130,273$207,767
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
American Indian FoundationNew York, NY501 (c)(3)TO SUPPORT ORGANIZATION'S MISSION OF ACCELERATING SOCIAL AND ECONOMIC CHANGE IN INDIA$25,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$211,863
Fundraising Direct Expenses$93,356
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$211,863$211,863$9,402$202,461
Total Events$211,863$211,863$93,356$118,507
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 NO 1050, EL SEGUNDO, CA 90245

Signing Officer

Name
Kevin Parikh
Title
President
Phone
3106433030
Signed
2019-11-14
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
10

Preparer

Firm
WRIGHT FORD YOUNG & CO CPA'S
Address
16140 SAND CANYON AVENUE, IRVINE, CA 92618-3715
Preparer
Marisa E Alvarado
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/Desc0AVASANT FOUNDATION HELPED CATALYZE THE CREATION OF OVER 6000 NEW JOBS IN COLLABORATION WITH GOVERNMENTS, NON-PROFITS AND THE REGION'S GROWING ICT SERVICE INDUSTRY. A NEW EFFORT INVOLVED ADVISING THE RWANDAN GOVERNMENT ON HOW TO OPTIMIZE ITS INVESTMENTS IN ICT FOR JOB CREATION AND DEVELOPMENT.
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IRS990/MissionDesc0THE 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.
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IRS990/ProgSrvcAccomActy2Grp/Desc0CARIBBEAN, GRADUATING 480 DESERVING YOUTH FROM DISADVANTAGED BACKGROUND IN JAMAICA. OVER 90% TRAINEES SECURED EMPLOYMENT WITH LEADING IT/BPO SERVICE PROVIDERS WITHIN WEEKS OF FINISHING THEIR TRAINING.
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IRS990/ProgSrvcAccomActy3Grp/Desc0AVASANT FOUNDATION SUPPORTED STEM AND ENTREPRENEURSHIP EDUCATION FOR DISADVANTAGED YOUTH IN THE US AS WELL AS OTHER INITIATIVES IN PARTNERSHIP WITH NON-PROFIT ORGANIZATIONS.
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IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt083954
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt025000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501 (C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT ORGANIZATION'S MISSION OF ACCELERATING SOCIAL AND ECONOMIC CHANGE IN INDIA
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0AMERICAN INDIAN FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientEIN0134159765
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0216 E 45TH STREET 7TH FLOOR
IRS990ScheduleI/RecipientTable/USAddress/CityNm0NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd010017
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/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0294348
IRS990/TotalAssetsEOYAmt0205088
IRS990/TotalAssetsGrp/BOYAmt0294348
IRS990/TotalAssetsGrp/EOYAmt0205088
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0130273
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04054
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt073440
IRS990/TotalFunctionalExpensesGrp/TotalAmt0207767
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018676
IRS990/TotalLiabilitiesEOYAmt018676
IRS990/TotalLiabilitiesGrp/BOYAmt018676
IRS990/TotalLiabilitiesGrp/EOYAmt018676
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0275672
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0186412
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcGrantAmt025000
IRS990/TotalProgramServiceExpensesAmt073440
IRS990/TotalReportableCompFromOrgAmt0120907
IRS990/TotalRevenueGrp/ExclusionAmt0118507
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0118507
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0294348
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0205088
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt020605
IRS990/TravelGrp/TotalAmt020605
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0EL SEGUNDO
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090245
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.AVASANTFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN PARIKH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03106433030
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AVASANT FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0AVAS
ReturnHeader/Filer/EIN0460691011
ReturnHeader/Filer/PhoneNum03106433030
ReturnHeader/Filer/USAddress/AddressLine1Txt01960 E GRAND AVENUE NO 1050
ReturnHeader/Filer/USAddress/CityNm0EL SEGUNDO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd090245
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07124FDA482023A5728DB48F32D3CFBF728A68E40
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0F2D6EBCA2A7A5DEEECEEE933A58B845DA4C56FB1
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.147.13.46
ReturnHeader/FilingSecurityInformation/IPDt02019-11-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm010:37:55
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0953288054
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WRIGHT FORD YOUNG & CO CPA'S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt016140 SAND CANYON AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0IRVINE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0926183715
ReturnHeader/PreparerPersonGrp/PhoneNum09499102727
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARISA E ALVARADO
ReturnHeader/ReturnTs02019-11-14T18:21:11-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$205,088
Liabilities
$18,676
Net assets
$186,412
Revenue
$118,507
Expenses
$207,767
Net income
-$89,260
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
2018Detailed filing. Detailed filing data is available for this year.$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