AK Foundation Inc
AK Foundation Inc is a private foundation, based in Coral Gables, FL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.7M in total assets. In 2024, it awarded 3 grants totaling $46K. Net investment income was $119K.
AK Foundation Inc at a glance
In short: AK Foundation Inc gave $46K across 3 grants in 2024 (avg $15K), mostly in Florida. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $45,995
- Grants made (2024)
- 3
- Average grant
- $15,332
- Median grant
- $14,638
- Total assets
- $1,661,983
- +67.4% vs 2023
- Primary geography
- Florida (62% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who AK Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2024
The largest 2024 recipient was Ransom Everglades School ($28K). Together the top 3 received $46K.
Grant Size Distribution
21 grants across all recorded years
The most common grant size was under $50K: 21 grants of 21 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 3 itemized grants.
Cities
How AK Foundation Inc gives
- Giving grew 134% from 2021 to 2024. Method
- In 2024 it paid out 73% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $12K (2020) to $46K (2024). In 2024 it made 3 grants totaling $46K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Ransom Everglades School Miami, FL | Help Enrich Academia and Athletic PR | $28,357 |
| Goanna Foundation | Aid Mental Health Programs in School | $14,638 |
| Himalayan Children's Charities Atlanta, GA | Aid Children in Poverty in Nepal | $3,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $1,661,983 | $124,627 | $51,564 | $45,995 | 3 | $45,995 | $119,375 | $62,886 |
| 2023 | $993,114 | $156,135 | $233,512 | — | — | $8,466 | $78,805 | $44,009 |
| 2022 | $838,535 | $346,545 | $67,133 | $42,455 | 6 | $69,275 | $45,064 | $44,086 |
| 2021 | $977,163 | $666,150 | $19,844 | $19,670 | 6 | $19,670 | $45,681 | $19,893 |
| 2020 | $340,113 | $37,500 | $13,972 | $12,100 | 6 | — | $43,820 | $15,562 |
Under IRS private-foundation payout rules, AK Foundation Inc reported a distributable amount of $63K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
AK Foundation Inc is led by Kavitha Palani, President & Director on every filing since 2020; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Kavitha Palani
President & Director
On filings since 2020
1 hr/week
$20K (2023) → $0 (2024)
Arul Murugan
Treasurer & Director
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2023 IRS filing
The highest reported compensation on the 2023 filing was $20K, to Kavitha Palani (President/Di).
Frequently asked questions about AK Foundation Inc
How much does AK Foundation Inc give each year?
AK Foundation Inc gave $46K across 3 grants in 2024, according to its 2024 IRS Form 990-PF.
What is AK Foundation Inc's typical grant size?
AK Foundation Inc's median grant in 2024 was $14,638, and its average grant was $15,332, across 3 grants on its 2024 IRS Form 990-PF.
Where does AK Foundation Inc give grants?
AK Foundation Inc gives mostly in Florida: 62% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Georgia (7%).
Does AK Foundation Inc give general operating support?
Not in 2024: none of the 3 grants with a stated purpose on AK Foundation Inc's 2024 IRS Form 990-PF were described as general or operating support.
How large is AK Foundation Inc?
AK Foundation Inc reported $1.7M in total assets on its 2024 IRS Form 990-PF. It paid out $46K in qualifying distributions that year, against a required minimum of $63K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is AK Foundation Inc's EIN?
AK Foundation Inc's EIN (Employer Identification Number) is 83-1146676. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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