Summary
Akanksha Foundation, The
 
Education
School Ops
Estd: 1991
Used for Beneficiaries: 86%
Address : Voltas House C, TB Kadam Marg, Chinchpokli, Mumbai 400033. Maharashtra
Email : admin@akanksha.org
Web-site : www.akanksha.org
Telephone : +91 22 23700253
Donor Contact : Ms. Ashima Suri / +91 22 23729880 / ashima.suri@akanksha.org
Financial Score
Rs, Y/E March 31
Income & Expenditure Statement201320142015
Income From
Government Sources000
Institutional Sources004,265,027
Foreign Sources125,553,172107,065,81882,908,433
Donations49,515,84239,090,51334,496,121
Sales/Fees7,338,96500
Interest/Dividend12,014,60114,938,75812,392,050
Other Income28,95445,294195,881
Total Income (A)194,451,534161,140,383134,257,512
Expenses For
Direct Programme Activities72,201,45854,733,40338,480,154
Programme Staff Cost56,310,75972,141,72360,868,003
Travel Expenses559,7881,753,2673,343,020
Direct Programme Expenses129,072,005128,628,393102,691,177
Fund Raising Expenses323,039686,9362,526,028
General Staff Cost31,480,9707,898,0658,978,669
Overhead Expenses3,852,06812,985,3953,820,849
Depreciation1,029,5811,194,2281,195,412
Other Expenses/Transfer134,53949,030157,202
Total Expenditure (B)165,892,202151,442,047119,369,337
Surplus / (Deficit) (A-B)28,559,3329,698,33614,888,175
Balance Sheet201320142015
Assets
Fixed Assets3,048,3903,829,1803,935,865
Current Assets (excl. Cash)7,044,1528,660,9848,276,239
Cash/Bank 22,503,237106,649,30787,972,088
Investments164,479,08097,403,309162,183,372
Accumulated Deficits000
Total Assets197,074,859216,542,780262,367,564
Liabilities
Corpus / Share Capital55,085,44263,665,44268,420,447
General Funds136,006,787145,705,123160,593,294
Earmarked Funds0024,676,016
Loans000
Current Liabilities5,982,6307,172,2158,677,807
Total Liabilities197,074,859216,542,780262,367,564
Other Details201320142015
Direct Beneficiaries (Nos)4,2924,255N.A.
Indirect Beneficiaries (Nos)N.A.N.A.N.A.
Cost Per Direct Beneficiary (Rs) - Avg. 38,41235,311N.A.
Number of Staff297234N.A.
Highest Salary (Rs p.a.)N.A.N.A.N.A.
Lowest Salary (Rs p.a.)N.A.N.A.N.A.
Regd. under : The Bombay Public Trust Act, 1950
The Societies Registration Act, 1860
Auditor : Haribhakti & Co.
Bankers :
Bank of Maharashtra HDFC Bank
Kotak Mahindra Bank

Donor tax benefits : 80G 50%
Eligible for foreign donations : Yes

Trustees/Directors/Managing Committee:
Mr. Amit Chandra, Trustee Ms. Anu Aga, Trustee
Mr. Ashish Dhawan, Trustee Ms. Meher Pudumjee, Trustee
Ms. Nandita Dugar, Trustee Mr. Neel Shahani, Trustee
Ms. Neerja Birla, Trustee Ms. Shaheen Mistri, Trustee
Ms. Srila Chatterjee, Trustee Ms. Vandana Goyal, CEO

Source : Audit Report 2015

Financial Note : 1) Institutional Sources comprise grants from Trusts and Foundations. 2) In FY14, AF has not provided details of the Art for Akanksha division, shown under Sales/Fees during FY10-FY13. During the period FY10-FY12, the division almost broke even. However the deficit of the division was Rs10 lakhs in FY14, a negative margin of 14%. 3) Teach for India (TFI) is a separate project seeded by The Akanksha Foundation (AF) and some income and expenses relating to TFI have been included in AF's financials during FY10-FY13. In FY14, income of Rs590 lakhs and expenses of Rs580 lakhs (surplus of Rs70 lakhs) was included in the books of AF.

NGO Profile :
The Akanksha Foundation provides high quality education to children from low-income communities in Mumbai and Pune. Currently, Akanksha reaches out to over 5,000 children through the after-school or center model and the school model. Akanksha has 8 centers and 16 schools across Mumbai and Pune.

Main programs are:

  • The School Project: This project is a venture to open high-quality schools serving children from low-income communities. The schools are in partnership with local municipalities with the vision of creating small clusters of model schools that can be used to impact the mainstream education system.
  • Centre and Programs: An after-school model, it focuses on innovative teaching of Math, English and Values. The first seven levels focus on providing a strong educational foundation, self-esteem and values while having a good time. The last 3 levels focus on successful completion of secondary school, and preparation for a job. Currently they have 8 centers and a total of 238 students attending classes regularly in Mumbai and Pune. Akanksha also offers programs in service learning, sports, empowerment, and career advice. Scholarships are offered to deserving children after a rigorous selection process. In FY15, the Mumbai and Pune centers had a pass percentage of 94%.
  • Art for Akanksha: This project includes curriculum development, art teacher training and support in Akanksha schools by running special classes for talented children. It designs, produces and markets a range of products that are sold through various avenues.
  • Mentor Program: The Mentor Program recruits successful professionals to act as mentors to an assigned child. Group discussions and individual meetings are held between the mentors and the mentees. During the year 11 mentor groups reached out to 153 students in schools and centers.
  • Programs for all round development: Akanksha runs 4 programs for the all-round development of children. These are the Empowerment Program for students in the age group 10 to 14, Service Learning Program to help individuals understand social issues, Sports Program to help children to have fun, build self-confidence, create friendships through physical activity and the Career Resource Centre to provide career guidance and access to job opportunities.


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