Financial Reports
In 2015, Asha for Education had an unqualified external audit using a GAAP-compliant accrual basis of accounting. Detailed financial reports of Asha, including a copy of the report by the independent auditor, can be found here.
Also, please note Asha chapters in Canada, Europe and India fundraise and disburse from both their local accounts and the U.S. account, but this statement is limited to activities in the U.S. only.
Statement of Activities
| Support and Revenues | Unrestricted | Temporarily Restricted | Total |
| Contributions | $2,597,468 | $437,152 | $3,034,620 |
| Special event revenue | $284,091 | $284,091 | |
| Less: Cost of Benefit to Donors | ($140,225) | ($140,225) | |
| Loss on investments | ($4,548) | ($4,548) | |
| Interest Income | $28,314 | $28,314 | |
| Net assets released from restriction | $147,961 | ($147,961) | – |
| Total support and revenues | $2,913,061 | $289,191 | $3,202,252 |
| Expenses | |||
| Program Services | $2,956,174 | $2,956,174 | |
| Management and General | $61,360 | $61,360 | |
| Fundraising | $29,234 | $29,234 | |
| Total Expenses | $3,046,768 | $3,046,768 | |
| Change in Net assets | ($133,707) | $289,191 | $155,484 |
| Net assets, beginning of year | $9,006,626 | $105,731 | $9,112,357 |
| Net assets, end of year | $8,872,919 | $394,922 | $9,267,841 |
Income and Expense Details – Overall
The following graphs show the overall income/expenses over the last 5 years and the sources of our income. Net income from fundraisers and investments form only 5% of our total income while 95% of the income is from tax-exempt donations.
Statement of Functional Expenses
| Program Services | Management and General | Fundraising | Total Expenses | |
| Project Disbursement | $2,956,174 | $2,956,174 | ||
| Accounting Fees | $21,142 | $21,142 | ||
| Administrative Expenses | $16,999 | $16,999 | ||
| Advertising | $409 | $409 | ||
| Bank Charges | $19,015 | $19,015 | ||
| Credit Card processing fees | $26,935 | $26,935 | ||
| Equipment rental | $1890 | $1890 | ||
| Legal Fees | $81 | $81 | ||
| Postage and shipping | $1889 | $1889 | ||
| Travel/Conferences | $2234 | $2234 | ||
| Total Expenses | $2,956,174 | $61,360 | $29,234 | $3,046,768 |
The following graphs show the overall distribution of expenses. Almost 97% of our funds are used to support projects in India. Administrative expenses account for only 2% of the total expenses – a majority of which is towards accounting/auditing, bank charges, insurance and registration fees for solicitation in various states of the US.
Income and Expense Details – By Chapter
The following graphs show the income and expenses, per chapter, in 2015.
