Excellence Initiative: FY2022 Nonprofit Profile & Form 990 (EIN 83-1718168)

Revenue by fiscal year
FY2020	$7.9M
FY2021	$9.4M
FY2022	$31.5M
FY2023	$16.5M
FY2024	$19.1M

Expenses by fiscal year
FY2020	$39K
FY2021	$378K
FY2022	$245K
FY2023	$200K
FY2024	$1.5M

Net assets by fiscal year
FY2020	$13.3M
FY2021	$22.3M
FY2022	$53.6M
FY2023	$71.0M
FY2024	$89.1M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2018.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

76 cents of each dollar spent went to programs.

76%

24%

Program services 76% · $185K Management & general 24% · $60K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation

Rajeev Agarwal

President & Treasurer

$0Pt VII · Sec A

Arpita Agarwal

Director

$0Pt VII · Sec A

Jay Bensal

Director

$0Pt VII · Sec A

Shelly Bensal

Director

$0Pt VII · Sec A

See Excellence Initiative executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes excellence in arts, science, education, and culture.

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Provided by the organization

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3 programs · $181K · in their own filed words · FY2022

01

Support for capacity and quality improvements in healthcare globally

$125Kprogram expense

02

Support for educational programs for thousands of low-income students globally

$51Kprogram expense

03

To support educational programs

$5Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2023

Gs Donor Advised Philanthropy Fund for Wealth Management INCFY2023$5K

Amazonsmile FoundationFY2023$22

Total grants receivedfrom 2 funders$5K

Grants paid · 16 grants · $1.8M · 2020–2024

Kabeer Excellence FoundationFY2024$1,135,000

Foundation for ExcellenceFY2024$125,000

Dr Shroff's Charity Eye HospitalFY2024$70,000

Dr Shroff's Charity Eye HospitalFY2023$147,767

Sanskruti FoundationTX · FY2023$10,001

Foundation of the Dalai LamaFY2023$10,000

Pratham USATX · FY2022$51,000

Pratham USATX · FY2021$106,000

Individual RecipientFY2021$50,000

Iowa Hindu TempleFY2021$25,001

Positive Coaching AllianceCA · FY2021$10,000

Yoga Academy of NAFY2021$5,001

Sanskruti FoundationTX · FY2020$5,001

Abortion Care NetworkDC · FY2020$3,900

Swaranjali Music SchoolFY2020$1,500

Individual RecipientFY2020$1,500

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$31.5M

Ln 12

Gifts and grantsLn 1h$31.2M

Investment incomeLn 3$394K

Money outPt IX

$245K

Ln 25

Programscol B$185K

Managementcol C$60K

Owns and owesPt X

$53.6M

net assets · Ln 32

Cash and savingsLn 1–2$18.2M

Total assetsLn 16$53.6M

LiabilitiesLn 26$0

PeoplePt VI, VII

4

listed · VII A

PaidVII A0

Voting boardVI 1a4

IndependentVI 1b4

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$31.2M

Noncash giftsLn 1g$5.7M

Investment incomeLn 3$394K

Gains on assetsLn 7−$7K

Total revenueLn 12$31.5M

Assets in detailPt X, end of year

CashLn 1$18.1M

SavingsLn 2$36K

Cash and savings togetherLn 1–2$18.2M

InvestmentsLn 11–13$15.6M

Other assetsLn 15$19.9M

Total assetsLn 16$53.6M

LiabilitiesLn 26$0

Net assetsLn 32$53.6M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3More from this return

Abroad and in kindSch F, M

Grants to other countriesSch F Pt II–III$125K

Noncash gifts receivedSch M Pt I$5.7M

4Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$2.6M	$18.2M
InvestmentsLn 11–13	$19.6M	$15.6M
Total assetsLn 16	$22.3M	$53.6M
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$22.3M	$53.6M

5Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$56K	$56K
Grants and assistance to foreign recipientsLn 3	$129K	$129K
Accounting feesLn 11c	$5K		$5K
Other fees for servicesLn 11g	$55K		$55K
Total functional expensesLn 25	$245K	$185K	$60K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 LatestFiled with the IRS Nov 17, 2025	$19.1M	$1.5M	$17.6M	$89.1M	990 PDF
FY2023Filed with the IRS Nov 15, 2024	$16.5M	$200K	$16.3M	$71.0M	990 PDF
FY2022 ViewingFiled with the IRS Nov 15, 2023	$31.5M	$245K	$31.3M	$53.6M	990 PDF
FY2021Filed with the IRS Oct 7, 2022	$9.4M	$378K	$9.0M	$22.3M	990 PDF
FY2020Filed with the IRS Sep 13, 2022	$7.9M	$39K	$7.9M	$13.3M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign M · Noncash O · Explanations

See the full FY2022 990 (6 parts)

Part I · Summary $31,548,998 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $8,959,080$31,155,414

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $412,201$393,584

I-11 Other revenuePrior year $5$0

I-12 Total revenuePrior year $9,371,286$31,548,998

I-13 Grants and similar amounts paidPrior year $296,252$185,313

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $81,547$59,968

I-18 Total expensesPrior year $377,799$245,281

I-19 Revenue less expensesPrior year $8,993,487$31,303,717

Part VI · Governance 4 of 4 board members independent, 4 to look at

VI-1a Voting members of the governing body4

VI-1b Independent voting members4

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $31,548,998 across 6 lines filed

VIII-1f All other contributions, gifts and grants$31,155,414

VIII-1g Noncash contributions (included above)$5,653,259

VIII-1h Total contributions, gifts and grants$31,155,414

VIII-3 Investment incomeRelated to mission $400,793$400,793

VIII-7 Net gain or loss on sales of assetsRelated to mission −$7,209−$7,209

VIII-12 Total revenueRelated to mission $393,584 · Unrelated business $0 · Excluded from tax $0$31,548,998

Part IX · Statement of functional expenses $245,281 across 4 lines filed

IX-1 Grants to domestic organizationsPrograms $56,000$56,000

IX-3 Grants and assistance to foreign recipientsPrograms $129,313$129,313

IX-11c Accounting feesManagement $4,911$4,911

IX-11g Other fees for servicesManagement $55,057$55,057

IX-25 Total functional expensesPrograms $185,313 · Management $59,968 · Fundraising $0$245,281

Part X · Balance sheet $53,595,801 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $2,606,629$18,125,585

X-2 Savings and temporary cash investmentsStart of year $35,755$35,759

X-12 Other securitiesStart of year $19,633,722$15,551,861

X-15 Other assetsStart of year $0$19,882,596

X-16 Total assetsStart of year $22,292,084$53,595,801

X-26 Total liabilitiesStart of year $0$0

X-32 Total net assets or fund balancesStart of year $22,292,084$53,595,801

X-33 Total liabilities and net assetsStart of year $22,292,084$53,595,801

Part XI · Reconciliation of net assets $53,595,801 net assets at year end

XI-1 Total revenue$31,548,998

XI-2 Total expenses$245,281

XI-3 Revenue less expenses$31,303,717

XI-4 Net assets at start of year$22,292,084

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$53,595,801

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Excellence Initiative FY2022 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Excellence Initiative

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV