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The purpose of this advertisement is to give an update on our recent activities / accomplishments to our stakeholders as well as to acknowledge/ admire efforts of our sponsors/ donors for helping us to reach our target of funding 750 underprivileged students in 2013-14.

Is the use of "as well as" correct in this sentence?

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Yes, it's correct, but your sentence is a bit difficult to read because of the number of options listed with the slashes.

How about:

The purpose of this advertisement is to update our stakeholders on our recent activities and accomplishments, as well as to acknowledge the efforts of our sponsors and donors in helping us reach our target of funding 750 underprivileged students in 2013-14.

(I wouldn't say "admire the efforts" in this case, "acknowledge" is much better)

or even

This advertisement updates our stakeholders on our recent activities and accomplishments, as well as acknowledges the efforts of our sponsors and donors in helping us reach our target of funding 750 underprivileged students in 2013-14.

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