Totals
- Total revenue
- $1,168,450
- Total expenses
- $1,289,145
- Contributions and grants received
- $1,168,278
- Grants paid
- $216,600
- Program service revenue
- $0
- Investment income
- $172
- Other revenue
- $0
- Total assets, end of year
- $1,026,763
- Total liabilities, end of year
- $24,238
- Net assets or fund balances, end of year
- $1,002,525
- Program services expenses (Part IX)
- $1,022,109
- Management and general expenses
- $172,149
- Fundraising expenses
- $94,887
- Program service expenses (Part III)
- $1,022,109
Program services were 79.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$1,168,278
-
3 · Investment income
total $172 · excluded $172
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $216,600 · program services $216,600
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $155,769 · program services $116,827 · fundraising $38,942
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $210,522 · program services $210,522
-
8 · Pension plan contributions
total $5,150 · program services $5,150
-
9 · Other employee benefits
total $10,002 · program services $9,624 · fundraising $378
-
10 · Payroll taxes
total $26,384 · program services $24,727 · fundraising $1,657
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $73,060 · management and general $73,060
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $53,049 · fundraising $53,049
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $97,140 · program services $48,897 · management and general $48,243
-
12 · Advertising and promotion
total $385 · management and general $385
-
13 · Office expenses
total $63,559 · program services $38,661 · management and general $24,590 · fundraising $308
-
14 · Information technology
total $20,917 · program services $7,650 · management and general $13,267
-
15 · Royalties
total $0
-
16 · Occupancy
total $7,200 · program services $6,735 · fundraising $465
-
17 · Travel
total $80,765 · program services $70,427 · management and general $10,297 · fundraising $41
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $720 · management and general $720
-
23 · Insurance
total $840 · program services $793 · fundraising $47
-
24a · Other expenses: Staff development
total $160,600 · program services $160,500 · management and general $100
-
24b · Other expenses: Event expenses
total $106,483 · program services $104,996 · management and general $1,487
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,082,265 · end of year $401,570
-
2 · Savings and temporary cash investments
end of year $572,072
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $2,000 · end of year $10,675
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $47,077 · end of year $42,080
-
10a · Land, buildings and equipment: cost or other basis
$3,184
-
10b · Land, buildings and equipment: accumulated depreciation
$2,818
-
10c · Land, buildings and equipment, net
beginning of year $1,086 · end of year $366
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $9,208 · end of year $13,913
-
19 · Deferred revenue
end of year $10,325
-
27 · Net assets without donor restrictions
beginning of year $658,880 · end of year $743,314
-
28 · Net assets with donor restrictions
beginning of year $464,340 · end of year $259,211
Mission and programs · 2023
Mission
To harness and engage the intellectual, financial, philanthropic and entrepreneurial capacity of African and friends of Africa in support of economic and social development across Africa and the communities in which we live.
Activities or mission (Part I)
Accelerating Black Leadership and Entrepreneurship (ABLE) is an enterprise accelerator program designed to strengthen, energize, and support 15-20 small businesses and nonprofit organizations led by Black entrepreneurs in the United States.
-
ABLE is an enterprise accelerator program designed to strengthen, energize, and support small businesses and nonprofit organizations led by Blacks in the United States. ABLE identifies 15-20 Black business leaders catalyzing an array of sustainable solutions to poverty across multiple sectors at the local and national level. This includes education, healthcare, finance, connectivity, agriculture, and renewable energy, all of which address essential community needs while spurring sustainable growth.
Expenses $582,522 · Grants $215,000
-
ADIS African Diaspora Investment symposium is an annual global convening that celebrates and champions the entrepreneurial and innovative spirit of Africans, Diasporians, and friends of Africa and inspires participants to be agents of change and active contributors to Africa's development.IIF Impact & Innovation Forums is a year round speaker series across Silicon Valley, Washington DC NYC, and virtually with thought-provoking conversations around strategic and consistent diaspora engagement in Africa's future.
Expenses $282,425 · Grants $1,600
-
BAF Builders of Africas future is a session that celebrates innovation and impact in early-stage African enterprise. BAF serves to showcase and award entrepreneurs who are running early-stage for-profit and non-for-profits that are addressing Africa's unique needs.
Expenses $121,999
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Almaz Negash
ED/Secretary
- Total calculated
- $155,769
- From this org
- $150,000
- From related orgs
- $0
- Other
- $5,769
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $150,000
- Bonus
- not reported
- Other
- not reported
- Deferred
- $5,769
- Nontaxable benefits
- not reported
- Filer's total
- $155,769
-
Twum Djin
Board Chair
- Total calculated
- $0
- Hours/week
- 10
-
Innocent Shumba
Treasurer
- Total calculated
- $0
- Hours/week
- 3
-
Josh Ghaim
Director
- Total calculated
- $0
- Hours/week
- 3
-
Duncan Goldie-Scott
Director
- Total calculated
- $0
- Hours/week
- 3
-
Ndeye Makalou
Director
- Total calculated
- $0
- Hours/week
- 3
-
Agnieska Winkler
Director
- Total calculated
- $0
- Hours/week
- 3
-
Dr Josephine Fubara
Director
- Total calculated
- $0
- Hours/week
- 3
-
Rick Levenson
Director
- Total calculated
- $0
- Hours/week
- 3
-
Kedest Tesfagiorgis
Director
- Total calculated
- $0
- Hours/week
- 3
-
Manoj Jain
Director
- Total calculated
- $0
- Hours/week
- 3
-
Daniel Hartz
CFO
- Total calculated
- $0
- Hours/week
- 5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 9 April 2024
- IRS schema version
- 2023v5.0
- Source object
- 202421009349301307
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