Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1981.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
97 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
23 people listed on the 990; $1.3M paid to officers and key staff.
Muneerah Merchant’s $327K as Chief Executive Officer is at the 23rd percentile of top reported officer pay among 88 $100M+ international nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Muneerah Merchant | $327,055 | — | — | — | — | — |
| Ibrahim Inayatali | $226,026 | $223,632 | $236,696 | $183,910 | $172,951 | $167,837 |
| Zahra Lutfeali | $223,395 | — | — | — | — | — |
| Shamsah Virani | — | $194,174 | $188,482 | — | — | — |
| Nazlin Pepermintwala | $180,099 | $177,010 | $166,584 | $149,779 | $143,917 | $142,134 |
| Anna Titulaer | — | — | — | $156,534 | $151,503 | $149,960 |
| Zahra Lutfeali as of 0424 | — | $153,119 | — | — | — | — |
| Elizabeth Grant | — | — | — | — | — | $137,658 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Aga Khan Foundation USA executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Improves access to safe drinking and irrigation water services for rural communities in Afghanistan.
Questions for Aga Khan Foundation USA
Your first name shows with your question. Aga Khan Foundation USA answers here, for everyone.
As part of the AKF Endowment, these funds provide a permanent source of support to various long-term programmatic and operational expenditures
Water emergency relief project's overall objective is to improve access to safe drinking water and irrigation water services in selected rural areas of afghanistan. Over the course of three and half years, werp will provide around 1,000,000 million people with access to safe drinking water services and support farmers to gain access to…
Bequest funding to aga khan foundation geneva for leveraging external donor funding towards tackling the root causes of poverty and efforts to improve the quality of life in communities around the world.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Federal money
The auditor reported no findings.
The auditor reported no findings.
The auditor reported no findings.
The auditor reported no findings.
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $150.0M | $108.2M |
| InvestmentsLn 11–13 | $48.9M | $52.0M |
| Land, buildings, equipmentLn 10c | $371.2M | $402.3M |
| Total assetsLn 16 | $622.5M | $601.9M |
| LiabilitiesLn 26 | $50.8M | $19.6M |
| Net assetsLn 32 | $571.7M | $582.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | $0 | ||
| Grants to domestic individualsLn 2 | $0 | $0 | ||
| Grants and assistance to foreign recipientsLn 3 | $87.8M | $87.8M | ||
| Benefits paid to or for membersLn 4 | $0 | $0 | ||
| Pay of current officers, directors and key staffLn 5 | $548K | $179K | $154K | $214K |
| Other salaries and wagesLn 7 | $2.5M | $834K | $718K | $995K |
| Pension plan contributionsLn 8 | $67K | $22K | $19K | $26K |
| Other employee benefitsLn 9 | $427K | $140K | $120K | $167K |
| Payroll taxesLn 10 | $111K | $36K | $31K | $43K |
| Management feesLn 11a | $0 | $0 | $0 | $0 |
| Legal feesLn 11b | $60K | $33K | $27K | |
| Accounting feesLn 11c | $113K | $33K | $80K | |
| Other fees for servicesLn 11g | $74K | $9K | $26K | $38K |
| Office expensesLn 13 | $178K | $52 | $68K | $110K |
| Information technologyLn 14 | $25K | $0 | $10K | $15K |
| OccupancyLn 16 | $334K | $107K | $81K | $146K |
| TravelLn 17 | $154K | $13K | $101K | $41K |
| Conferences, conventions and meetingsLn 19 | $592K | $592K | ||
| Depreciation, depletion and amortizationLn 22 | $3.2M | $3.2M | $10K | |
| Other expenses (24a–d)Ln 24 | −$146K | $640K | $156K | −$942K |
| All other expensesLn 24e | $77K | $77K | $0 | $0 |
| Total functional expensesLn 25 | $96.1M | $93.1M | $1.6M | $1.4M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS May 15, 2026 | $106.7M | $96.1M | $10.6M | $582.3M | 990 PDF |
| FY2024Filed with the IRS May 15, 2025 | $85.8M | $54.5M | $31.3M | $571.7M | 990 PDF |
| FY2023Filed with the IRS May 15, 2024 | $64.9M | $64.8M | $109K | $539.2M | 990 PDF |
| FY2022Filed with the IRS May 25, 2023 | $86.3M | $41.7M | $44.7M | $539.0M | 990 PDF |
| FY2021Filed with the IRS Aug 1, 2022 | $80.0M | $47.2M | $32.8M | $496.4M | 990 PDF |
| FY2020Filed with the IRS Oct 5, 2021 | $51.2M | $73.3M | −$22.1M | $464.4M | 990 PDF |
Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $106,705,948 revenue, 12 lines filed
Part VI · Governance 14 of 14 board members independent, 1 to look at
Part VIII · Statement of revenue $106,705,948 across 15 lines filed
Part IX · Statement of functional expenses $96,147,712 across 21 lines filed
Part X · Balance sheet $601,887,350 assets, 17 lines filed
Part XI · Reconciliation of net assets $582,265,526 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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