Civic Intelligence

Avasant Foundation

990 • Fiscal year 2023 • EIN 46-0691011

Jan 01, 2023 to Dec 31, 2023 • Filed on May 10, 2024

Organization ProfileWWW.AVASANTFOUNDATION.ORG
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

35th percentile

0.02x

Higher debt load relative to assets than 35% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.02x

Higher debt load relative to revenue than 32% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

95th percentile

73%

Higher net margin than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

95th percentile

123%

Faster asset growth than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

94th percentile

148%

Faster revenue growth than 94% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets35th percentile

Assets

Flat

$1,209,479

Flat from 2023

Net Assets

Flat

$1,190,053

Flat from 2023

Liabilities

Flat

$19,426

Flat from 2023

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin95th percentile

Revenue

Flat

$923,356

Flat from 2023

Expenses

Flat

$245,102

Flat from 2023

Net Income

Flat

$678,254

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth95th 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 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

2023

Assets$1,209,479
Liabilities$19,426
Net Assets$1,190,053
Open 2023 Filing

Operations Trend

Revenue Growth94th 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 2023: $923,356Expenses 2023: $245,102Net Income 2023: $678,2542023Revenue 2024: $419,508Expenses 2024: $195,562Net Income 2024: $223,9462024

Highlighted filing

2023

Revenue$923,356
Expenses$245,102
Net Income$678,254
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 10, 2024
Return Version
2023v5.0
Gross Receipts
$984,799
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$541,225$1,209,479▲ $668,254
Rtn Earn Endowment Incm Other Fnds$511,799$1,190,053▲ $678,254
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$541,225$1,209,479▲ $668,254
Liabilities
Grants Payable$18,426$18,426→ $0
Other Liabilities$750$750→ $0
Accounts Payable and Accrued Expenses$10,250$250▼ $10,000
Total Liabilities$29,426$19,426▼ $10,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$511,799$1,190,053▲ $678,254
Total Liabilities and Net Assets / Fund Balance$541,225$1,209,479▲ $668,254

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$13,130$13,130
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Kevin ParikhChairman
Chitra RajeshwariExec Director
Revenue and Support

Revenue Composition

Contributions and Grants
$683,271
Program Service Revenue
$16,060
Investment Income
$0
Other Revenue
$224,025
All Other Contributions
$683,271
Change in Net Assets
$678,254
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$205,102
Grants and Similar Amounts Paid$40,000
Total Fundraising Expense$1
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$184,975--$184,975
Grants to Domestic Orgs$40,000--$40,000
Travel$6,008--$6,008
Office Expenses-$120-$120
Other Expenses$130$95-$95
Information Technology$20$4$1$25
Total Functional Expenses$244,858$243$1$245,102
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
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$285,468
Fundraising Direct Expenses$61,443
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$285,468$285,468$61,443$224,025
Total Events$285,468$285,468$61,443$224,025
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
Chairman
Phone
3106433030
Signed
2024-05-10
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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IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT THE UNIVERSITY'S MISSION.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0USC
IRS990ScheduleI/RecipientTable/RecipientEIN0951642394
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
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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
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt0541225
IRS990/TotalAssetsGrp/EOYAmt01209479
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0683271
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt01
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0243
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0244858
IRS990/TotalFunctionalExpensesGrp/TotalAmt0245102
IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/ExclusionAmt0224025
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt016060
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0923356
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.AVASANTFOUNDATION.ORG
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ReturnHeader/Filer/PhoneNum03106433030
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0953288054
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WRIGHT FORD YOUNG & CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt016140 SAND CANYON AVENUE
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-10
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ReturnHeader/ReturnTs02024-05-15T09:42:02-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KEVIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PARIKH
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,209,479
Liabilities
$19,426
Net assets
$1,190,053
Revenue
$923,356
Expenses
$245,102
Net income
$678,254
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
2023Detailed filing. Detailed filing data is available for this year.$1.21$0.02$1.19$0.92$0.25$0.68
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