Financial Reports

In 2014, Asha for Education changed its accounting from a Cash-basis of accounting to a GAAP-compliant accrual basis of accounting. Detailed financial reports of Asha, including a copy of the report by an 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	$2,558,115	$187,743	$2,745,858
Special event revenue	$203,745		$203,745
Less: Cost of Benefit to Donors	($144,607)		($144,607)
Merchandise Sales	$1,686		$1,686
Interest Income	$42,243		$42,243
Net assets released from restriction	$176,165	($176,165)	–
Total support and revenues	$2,837,347	$11,578	$2,848,925

Expenses
Program Services	$2,849,141		$2,849,141
Management and General	$74,064		$74,064
Fundraising	$31,806		$31,806
Total Expenses	$2,955,011		$2,955,011

Change in Net assets	($117,664)	$11,578	($106,086)
Net assets, beginning of year	$9,124,290	94153	$9,218,443
Net assets, end of year	$9,006,626	$105,731	$9,112,357

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 4% of our total income while 96% of the income is from tax-exempt donations.

Statement of Functional Expenses

	Program Services	Management and General	Fundraising	Total Expenses
Project Disbursement	$2,849,141			$2,849,141
Accounting Fees		$43,649		$43,649
Administrative Expenses		$10,468		$10,468
Advertising			$453	$453
Bank Charges		$16,754		$16,754
Credit Card processing fees			$25,741	$25,741
Equipment rental			$2123	$2123
Merchandise			$3226	$3226
Postage and shipping		$3193		$3193
Printing and publications			$263	$263
Total Expenses	$2,849,141	$74,064	$31,806	$2,955,011

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 2.4% of the total expenses – a majority of which is towards accounting/auditing and bank charges.

Income and Expense Details – By Chapter

The following graphs show the income and expenses, per chapter, in 2014. 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

Income, Expense and Balance Ratios – By Chapter

The following graphs show some ratios of chapter expenses and income to reserves in 2014. 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.
The following chapters were closed in 2014 – Corvallis, DC, Los Angeles, MHV, Oxford, Salt Lake City and Santa Barbara as seen in their closing balance. Chapters at Arizona, Austin, Houston, Knoxville, NRV, Philadelphia and UVA did not fund any projects in 2014.