The Akshaya Patra Foundation, the world’s largest NGO-run midday meal program, has been awarded the Gold Shield Award for best financial reporting by the Institute of Chartered Accountants of India (ICAI).

Akshaya Patra’s vision is that no child shall be deprived of education because of hunger. The organization currently feeds over one million children each day in 7,000 schools through 18 kitchens in seven states in India.

The award was given based on Akshaya Patra’s Annual Report and the Accounts of Akshaya Patra for the year ending March 31, 2009. Akshaya Patra was selected by a panel of judges on the degree of compliance with accounting standards, statutory guidelines and other relevant pronouncements. The Gold Shield is the top award given by the ICAI and is only given to those organizations with the highest level of accounting practices.

“This recognition is reflective of our commitment to make Akshaya Patra's financial reporting second to none. We strive to be a role model for other non-profits,” said Madhu Sridhar, Akshaya Patra USA’s President and CEO. “We are overjoyed by this honor, and thank ICAI for recognizing Akshaya Patra with this prestigious award.”

Akshaya Patra maintains a commitment to organizational transparency. The organization is audited by M/s BSR & Co, a leading Indian audit firm, to ensure transparency and accountability of its operations. Furthermore, the organization is managed by an independent Board of Directors, many of whom are leaders in the private sector. Akshaya Patra is also advised in accounting standards and services by the reputed consulting firm KPMG. Akshaya Patra will receive the award at ICAI’s Gala on January 30 at the Goregaon Sports Club in Mumbai. The event will be attended by government officials, business executives and industry leaders from the ICAI.

A public-private partnership, Akshaya Patra combines good management, innovative technology and smart engineering to deliver school lunch at a fraction of the cost of similar programs in other parts of the world. It costs $28 to feed a child daily for the entire school year. With an average government subsidy of 50 percent, $28 feeds two children. Akshaya Patra has a demonstrated impact on the children it reaches. AC Nielsen, an independent research firm, performed an impact assessment which demonstrated an increase in enrollment, especially among the female students, and better health and improved performance among all students who received school lunches. This meal gives these children an incentive to come to school, stay in school and provides them with the necessary nutrients they need to develop their cognitive abilities to focus on learning.  Akshaya Patra is a great example of what can be accomplished when the public sector, private sector and the civic society collaborate-- a cost effective, scalable solution with high quality service delivery. After reaching its goal of feeding one million children each school day, Akshaya Patra’s next milestone is to serve 5 million children daily by 2020. For more information, please visit www.foodforeducation.org.

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