Civic Intelligence

Avasant Foundation

990 • Fiscal year 2021 • EIN 46-0691011

Jan 01, 2021 to Dec 31, 2021 • Filed on May 13, 2022

1960 E Grand Avenue 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

72nd percentile

0.04x

Higher debt load relative to assets than 72% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

75th percentile

0.05x

Higher debt load relative to revenue than 75% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

66th percentile

21%

Higher net margin than 66% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

97th percentile

$75,917

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 20.3% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

65th percentile

19%

Faster asset growth than 65% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

38th percentile

-9.3%

Faster revenue growth than 38% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Flat

$490,768

Flat from 2021

Net Assets

Flat

$471,342

Flat from 2021

Liabilities

Flat

$19,426

Flat from 2021

Revenue

Flat

$373,127

Flat from 2021

Expenses

Flat

$294,952

Flat from 2021

Net Income

Flat

$78,175

Flat from 2021

Historical Trend

Balance Sheet Trend

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 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

2021

Assets$490,768
Liabilities$19,426
Net Assets$471,342

Operations Trend

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 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

2021

Revenue$373,127
Expenses$294,952
Net Income$78,175
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 13, 2022
Return Version
2021v4.2
Gross Receipts
$384,232
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$412,593$490,768▲ $78,175
Rtn Earn Endowment Incm Other Fnds$393,167$471,342▲ $78,175
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$412,593$490,768▲ $78,175
Liabilities
Grants Payable$18,426$18,426→ $0
Other Liabilities$750$750→ $0
Accounts Payable and Accrued Expenses$250$250→ $0
Total Liabilities$19,426$19,426→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$393,167$471,342▲ $78,175
Total Liabilities and Net Assets / Fund Balance$412,593$490,768▲ $78,175

Asset Categories

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

Employees

NameTitleFull / Part TimeBaseTotal
Chitra RajeshwariExec DirectorPT$75,917$75,917

Board Members and Trustees

NameTitle
Kevin ParikhPresident
Revenue and Support

Revenue Composition

Contributions and Grants
$181,232
Program Service Revenue
$17,520
Investment Income
$0
Other Revenue
$174,375
All Other Contributions
$181,232
Change in Net Assets
$78,175
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$180,291
Total Fundraising Expense$99,670
Salaries, Compensation, and Employee Benefits$99,661
Grants and Similar Amounts Paid$15,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$157,864--$157,864
Current Officers, Directors, Trustees, and Key Employees--$75,917$75,917
Grants to Domestic Orgs$15,000--$15,000
Payroll Taxes--$14,415$14,415
Other Employee Benefits--$9,329$9,329
Depreciation Depletion-$8,630-$8,630
Travel$3,517--$3,517
Office Expenses-$810-$810
Information Technology$140$26$9$175
All Other Expenses-$140-$140
Other Expenses$730$110-$110
Total Functional Expenses$184,751$10,531$99,670$294,952
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Usc University AdvancementLos Angeles, CA501(c)(3)TO SUPPORT THE UNIVERSITY'S MISSION.$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$185,480
Fundraising Direct Expenses$11,105
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$185,480$185,480$11,105$174,375
Total Events$185,480$185,480$11,105$174,375
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
2022-05-13
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
1
Volunteers
22

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/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 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 ROCKEFELLER FOUNDATION, THROUGH WHICH THE AVASANT FOUNDATION SEEKS TO CREATE SOURCING RELATED JOB OPPORTUNITIES IN POOR AND ECONOMICALLY CHALLENGED COMMUNITIES.
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IRS990/ProgSrvcAccomActy2Grp/Desc0IN 2021, AF CONTINUED TO SCALE ITS AVASANT DIGITAL YOUTH EMPLOYMENT INITIATIVE IN THE CARIBBEAN. THIS YEAR MARKED THE SEVENTH CONSECUTIVE YEAR MAKING AN IMPACT THROUGH SKILLS TRAINING AND GETTING YOUTH HIRED BY COMPANIES COMMITED TO IMPACT SOURCING. OVER 90% OF TRAINEES SECURED EMPLOYMENT WITH LEADING IT/BPO SERVICE PROVIDERS WITHIN WEEKS OF FINISHING THEIR TRAINING.IN TRINIDAD & TOBAGO, AVASANT FOUNDATION IN PARTNERSHIP WITH CTS COLLEGE OF BUSINESS AND COMPUTER SCIENCE AND THE MASSY GROUP HAS COMPLETED THE GLOBAL SKILLS FOR DIGITAL SERVICES PROGRAM FUNDED BY THE IDB TO BRIDGE THE PREVAILING SKILL-GAP IN THE ITES SECTOR IN T&T WITH A TRAINED WORKFORCE. 49 YOUTH HAVE RECEIVED TRAINING IN HIGHDEMAND SKILLS FOR A PERIOD OF 18 MONTHS WITH AF'S ADYEI.
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IRS990/ProgSrvcAccomActy3Grp/Desc0AVASANT FOUNDATION SUPPORTED STEM AND ENTREPRENEURSHIP EDUCATION FOR DISADVANTAGED YOUTH IN THE UNITED STATES AS WELL AS OTHER INITIATIVES IN PARTNERSHIP WITH NON-PROFIT ORGANIZATIONS.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYABLE TO AVASANT
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt0750
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt011105
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF TOURNAMENT
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0185480
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0185480
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0185480
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0185480
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0174375
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt011105
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt011105
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT THE UNIVERSITY'S MISSION.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0USC UNIVERSITY ADVANCEMENT
IRS990ScheduleI/RecipientTable/RecipientEIN0951642394
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03551 TROUSDALE PARKWAY SUITE 160
IRS990ScheduleI/RecipientTable/USAddress/CityNm0LOS ANGELES
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd090089
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/TotalAssetsBOYAmt0412593
IRS990/TotalAssetsEOYAmt0490768
IRS990/TotalAssetsGrp/BOYAmt0412593
IRS990/TotalAssetsGrp/EOYAmt0490768
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0181232
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt099670
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010531
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0184751
IRS990/TotalFunctionalExpensesGrp/TotalAmt0294952
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt019426
IRS990/TotalLiabilitiesEOYAmt019426
IRS990/TotalLiabilitiesGrp/BOYAmt019426
IRS990/TotalLiabilitiesGrp/EOYAmt019426
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0393167
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0471342
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0184751
IRS990/TotalProgramServiceRevenueAmt017520
IRS990/TotalReportableCompFromOrgAmt075917
IRS990/TotalRevenueGrp/ExclusionAmt0174375
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt017520
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0373127
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt022
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0412593
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0490768
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt03517
IRS990/TravelGrp/TotalAmt03517
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/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN PARIKH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03106433030
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-13
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/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/PreparationDt02022-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RYAN WORKING CPA
ReturnHeader/ReturnTs02022-05-16T15:59:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KEVIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PARIKH
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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
2021Detailed filing. Detailed filing data is available for this year.$0.49$0.02$0.47$0.37$0.29$0.08
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