Akola Project Inc
- Assets
- $0.0
- Revenue
- -$24.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Dallas, TX
- Founding
- 06/2006
- Data as of
- 12/2020
- EIN
- 20-4560040
Organization Overview
Akola Project Inc is located in Dallas, TX. The organization was established in 2006. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2020, Akola Project Inc employed 2 individuals. Akola Project Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
AKOLA'S MISSION IS TO EMPOWER WOMEN TO BECOME AGENTS OF TRANSFORMATION FOR THEIR FAMILIES AND COMMUNITIES THROUGH ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AKOLA PROJECT, INC. EMPOWERS WOMEN TO BECOME AGENTS OF TRANSFORMATION FOR THEIR FAMILIES AND COMMUNITIES THROUGH ECONOMIC DEVELOPMENT. AKOLA ACHIEVES THIS MISSION BY PROVIDING ON-THE-JOB VOCATIONAL TRAINING, DEPENDABLE WORK OPPORTUNITIES, AND SUPPLEMENTAL, HOLISTIC PROGRAMS FOR MARGINALIZED WOMEN AROUND THE WORLD. EQUIPPING 500+ WOMEN WITH THE RESOURCES AND SKILLS TO UPLIFT THEIR FAMILIES OUT OF EXTREME POVERTY, AKOLA IS A CATALYST OF ENTIRE COMMUNITIES BEING ECONOMICALLY DEVELOPED.AS THE FIRST FULL IMPACT BRAND IN THE LUXURY SPACE, AKOLA LEVERAGES ITS ENTIRE VALUE CHAIN TO CREATE SOCIAL IMPACT THROUGH AKOLA PRODUCTS. EVERY RAW MATERIAL IS ETHICALLY PROCURED AND, WHEN POSSIBLE, HAS A SOCIAL IMPACT. EACH AKOLA PRODUCT UNIT IS MANUFACTURED BY AKOLA CLIENTS, GIVING THEM THE OPPORTUNITY TO EARN A LIVING WAGE. ALL OF AKOLAS FINISHED GOODS ARE INVENTORIED AND DISTRIBUTED THROUGH AKOLAS DISTRIBUTION CENTER THAT IS RUN AS A SECOND-CHANCE JOB PROGRAM FOR WOMEN. FINALLY, AKOLAS PRODUCT SALES ARE REINVESTED IN THE MISSION TO GROW THE ORGANIZATION AND PROVIDE MORE OPPORTUNITIES FOR WOMEN GLOBALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheeba Philip CEO | Officer | 2 | $0 |
Scott Luttrell Director | Trustee | 2 | $0 |
Anne Motsenbocker Director | Trustee | 2 | $0 |
Rawson Haverty Secretary | OfficerTrustee | 2 | $0 |
Greg Lernihan Director | Trustee | 2 | $0 |
Brittany Underwood Chairman | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,489 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,489 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$50,855 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$24,092 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $171,498 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $10,023 |
| Information technology | $1,731 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $56,718 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,322 |
| All other expenses | $0 |
| Total functional expenses | $244,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |