Ashoka

“Ashoka has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. The controller and cfo reviews the form 990 after the draft is prepared. Once approved by the controller and cfo, the cfo forwards the 990 to ceo and president for review. Any comments or updates given to cfo by the ceo and president are passed along to the accounting firm. The account firm reviews the comments and makes changes as needed. The updated 990 is given to board secretary who distributes the draft 990 electronically to full board of directors for review before filing with the irs.”

“Ashoka currently has in place a conflict of interest policy that applies to board members, officers, and key employees, which it annually monitors and enforces. The board currently mandates that all members of management and the governing body annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. If a potential or actual conflict of interest exists, the interest party shall leave the Board or Board Committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining Board or Board Committee members shall decide if a conflict of interest exists. The minutes of the Board and all Board Committees shall contain: (a) the names of the persons who disclosed or otherwise were found to have a Financial Interest in connection with an actual or possible conflict of interest, the nature of the Financial Interest, any action taken to determine whether a conflict of interest was present, and the Board's or Board Committee's decision as to whether a conflict of interest in fact existed; and (b) the names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternatives to the proposed transaction or arrangement, and a record of any votes taken in connection with the proceedings.”

“At Ashoka salaries are set by using a salary framework for that country, which is developed by an external consultant that uses market/industry information to determine the salary ranges for each of our levels. This salary framework is applied to all employees' salaries, including the ones of the Leadership Team (including CEO) and senior leaders. Any compensation changes for the CEO have to be approved by the Executive Committee of Board (with the CEO recused), and any compensation changes for the two other members of the Leadership Team (President & Latin America Diamond Leader) have to be approved by the CEO. Any compensation changes for senior leaders are to be reviewed and approved by the Leadership Team member who is their Accountability Partner (manager). Once the performance review decisions are finalized, we communicate this to all senior leaders and the Leadership Team in writing (letter format). This process was last undertaken in FY16.”

“Ashoka makes its governing documents, conflict of interest policy, financial statements and Form 990 available for public inspection as required under section 6104 of the Internal Revenue Code. the information is available upon written request at 1700 North Moore Street, Arlington, VA 22209. The Form 990 is also available to the public on www.Guidestar.org and on Ashoka's website.”

“Ashoka is a not-for-profit, publicly supported citizen sector organization incorporated on June 3, 1980 under the laws of the District of Columbia. Ashoka envisions a global community that responds quickly and effectively to social challenges, where everyone has the freedom, confidence and societal support to address any societal problem and make change. This global community spreads innovation and the desire to change, such that everyone finds within themselves the potential to be changemakers. Previously, Ashoka reported the financial activities of its global affiliates as part of its Form 990. These affiliated groups included organizations located in East Asia, Southeast Asia, South Asia, Africa, South America, Mexico/the Caribbean Basin/Central America, Europe, North America, and Middle East/North Africa. These related parties are being shown on Schedule R, Part II and their financial activity is not included in the Form 990. ASHOKA CONTINUES TO OPERATE AS A GLOBALLY INTEGRATED ORGANIZATION, SHARING RESOURCES BETWEEN THE GLOBAL OFFICE AND COUNTRY OFFICES, AND BETWEEN COUNTRY OFFICES.”

“AN AMENDED RETURN IS BEING FILED DUE TO THE RESTATEMENT OF THE ORGANIZATION'S August 31, 2016 FINANCIAL STATEMENTS. In 2016, Ashoka restated its financial statements in order to properly reflect the assets, liabilities, endowment net asset classifications, net assets and change in net assets. A LISTING OF ALL OF THE CHANGES to the Form 990 IS AS FOLLOWS: 1. Page 1, Box 6: Gross receipts was restated to reflect the updated revenue reported in Part VIII. 2. Part I, Lines 8 - 22 (Current Year): These amounts were updated to reflect the changes reported in their respective parts of the return due to the restatement. 3. Part III, Line 4a - 4d: The total program expenses was updated to agree to the functional allocation in Part IX. This allocation changed as part of the financial restatement. In addition, the program revenue reported in Part VIII, Line 2 was allocated to Line 4d. 4. Part VIII, Lines 1f, 2, 3, and 11a: The cash contributions, program revenue, interest income, and management fee were updated to agree with the restatement of financials. 5. Part IX: The overall functional expense allocation was reviewed and modified in the restated financial statements. The revised allocation was incorporated into Part IX. In addition, various line items were adjusted due to the revised figures throughout the statement. 6. Part X, Lines 3, 9, 15, 16, 17: These amounts on the balance sheet were updated to agree to the restated financial statements. 7. Part X, Lines 27 - 29: The total net assets were updated due to the changes to the expenses and revenue recorded on the restated financial statements. 8. Part XI, Lines 1 - 4: These amounts were updated for the changes reported in Part VIII and Part IX, as discussed above. 9. Part XI, Line 8: The prior period adjustment was adjusted as part of the restated financials. 10. Part XI, Line 9: The other change in net assets was updated due to changes in the bad debt expense as part of the restated financials. In addition, due to changes in the foreign disregarded entities income and expenses the foreign translation loss was updated. 11. Schedule A, Part II, Column (e): The FY2016 amount was updated to agree with the changes in Part VIII. 12. Schedule D, Part V, Lines 2a and 2b: THE ALLOCATION OF THE BOARD DESIGNATED ENDOWMENT AND PERMANENT ENDOWMENT WAS UPDATED TO AGREE WITH THE RESTATED FINANCIALS, WHICH NOW AGREE WITH DONORS' INTENT. 13. Schedule D, Part IX: The detail to other assets was updated to agree with the restated financials. 14. Schedule D, Part XI and XII: The amounts reported in these sections were updated to agree with the restated revenue and expenses, per the audited financial statements. 15. Schedule O, Part IX, Line 11g, Other Fees: The detail to the "other fees" from Part IX, Line 11g was updated to agree with the restated financial statements. 16. Schedule R, Part I, Columns (d) and (e): The total income and assets for the disregarded entities disclosed in Part I were updated to agree to their revised trial balances.”

“Consulting Fees: Program service expenses 1,226,863. Management and general expenses 118,722. Fundraising expenses 109,534. Total expenses 1,455,119. Professional Fees: Program service expenses 566,391. Management and general expenses 0. Fundraising expenses 0. Total expenses 566,391. Purchased Services: Program service expenses 113,277. Management and general expenses 238,039. Fundraising expenses 18,672. Total expenses 369,988. Training Fee: Program service expenses 21,404. Management and general expenses 944. Fundraising expenses 211. Total expenses 22,559. Temporary Help: Program service expenses 104,480. Management and general expenses 0. Fundraising expenses 0. Total expenses 104,480.”

“Foreign Translation Loss -450,392. Write-off of Bad Debts -1,157,600.”

“Ashoka has a board committee that assumes responsibility for the oversight of the audit of its financial statements and for the selection of an independent accountant. The process has not changed from the prior year.”

“Ashoka is a non-profit, publicly supported foundation incorporated on June 3, 1980 under the laws of the District of Columbia. Ashoka envisions a global community that responds quickly and effectively to social challenges, where everyone has the freedom, confidence and societal support to address any societal problem and make change. This global community spreads innovation and the desire to change, such that everyone finds within themselves the potential to be changemakers. Previously, Ashoka reported the financial activities of its global affiliates as part of its Form 990. These affiliated groups included organizations located in East Asia, Southeast Asia, South Asia, Africa, South America, Mexico/the Caribbean Basin/Central America, Europe, North America, and Middle East/North Africa. These related parties are now being shown on Schedule R, Part II and their financial activity has been removed from the Form 990. In addition, in fiscal year 2016, Ashoka restated its financial statements as of and for the year ended August 31, 2015, in order to properly reflect pledges receivable, due from related parties, stipend payable, and endowment net asset classifications. Due to the removal of its affiliates from the Form 990 as well as the financial statement restatement, a prior period adjustment of $28,531,133 was recorded on Part XI, Line 8.”