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CHARITY REVIEW
Issued: October 2024 Expires: October 2026

Aga Khan Foundation USA

Standards Not Met
Standards Not Met
6 7
(202) 293-2537
1825 K Street NW, Suite 901
Washington, DC, 20006
https://www.akfusa.org/
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Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

Aga Khan Foundation USA does not meet the following 2 Standards for Charity Accountability:

Standard 6 (Board Policy on Effectiveness)
Have a board policy of assessing, no less than every two years, the organization's performance and effectiveness and of determining future actions required to achieve its mission.

AKF does not meet this Standard because:

  • The board of directors does not have a written policy stating that, at least every two years, an appraisal be done assessing the organization’s performance and effectiveness and determining future actions required to achieve its mission.

Standard 7 (Board Approval of Written Report on Effectiveness)
Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.

AKF does not meet this Standard because:

  • The organization has not completed an effectiveness assessment in the last two years.

The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability: 13, 15

Aga Khan Foundation USA meets the remaining 16 Standards for Charity Accountability.

Stated Purpose:
"to partner with communities around the world to build better futures together."

Year, State Incorporated:
1981, DC

Aga Khan Foundation USA (AKF) partners with communities, governments, businesses and local organizations to tackle poverty in Africa and Asia by investing in agricultural and food security, economic inclusion, education, early childhood health and nutrition, and civil society programs. AKF seeks to break the cycle of poverty by making long-term investments, building permanent institutions, and cultivating an active civil society. The organization's Local Impact program currently works in Afghanistan, the Kyrgyz Republic, and Tajikitan to help economic growth, improve access to basic services, strengthen local communities and civic institutions, and promote inclusion and social inclusion.

For the year ended December 31, 2022, Aga Khan Foundation USA's program expenses were:

Community centers development program: $2,032,689

International programs: $37,251,550

Total Program Expenses: $39,284,239

Chief Executive
Khalil Z. Shariff, Interim Chief Executive Officer

Chair of the Board
His Highness the Aga Khan

Chair's Profession / Business Affiliation
Philanthropist

Board Size
16

Paid Staff Size
25

*2022 compensation, as reported by the organization, includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances. Salary information is not availabe at this time.

Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Direct mail appeals, Radio, Special events, Telemarketing

Fundraising costs were 3% of related contributions. (Related contributions, which totaled $84,087,758, are donations received as a result of fundraising activities.)

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on Aga Khan Foundation USA's audited financial statements for the year ended December 31, 2022.

Source of Funds
Contributions $55,675,978
In-kind contributions $13,754,499
Federal grants $9,898,214
Non-federal grants $4,759,067
Investment income $1,946,785
Other income $871,246
Total Income $86,905,789

Programs: 92% Fundraising: 5% Administrative: 2%

Total Income $86,905,789
Total expenses: $42,557,560
  Program expenses $39,284,239
  Fundraising expenses $2,281,046
  Administrative expenses $992,275
  Other expenses $0
Income in Excess of Expenses $44,348,229
Beginning Net Assets $496,415,320
Other Changes In Net Assets $42,602,793
Ending Net Assets $539,018,113
Total Liabilities $29,384,846
Total Assets $568,402,959

Note: For the year ended December 31 2022, AKF reported in-kind contributions of $13,754,499 including land and buildings.

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

RELATED CONTENT

Report completed by:
BBB Wise Giving Alliance