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Nonprofiteer
← VILLAGE ENTERPRISE FUND INC

Form 990 for tax year 2023

Filed by VILLAGE ENTERPRISE FUND INC.

Totals

Total revenue
$17,629,529
Total expenses
$16,678,907
Contributions and grants received
$17,047,907
Grants paid
$5,786,251
Program service revenue
$0
Investment income
$569,654
Other revenue
$11,968
Total assets, end of year
$18,573,765
Total liabilities, end of year
$2,618,232
Net assets or fund balances, end of year
$15,955,533
Program services expenses (Part IX)
$13,561,912
Management and general expenses
$1,784,879
Fundraising expenses
$1,332,116
Program service expenses (Part III)
$13,561,912

Program services were 81.3% 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.

  • 1e · Government grants (contributions)

    $2,140,210

  • 1f · All other contributions, gifts and grants

    $14,907,697

  • 1g · Noncash contributions included above

    $29,359

  • 3 · Investment income

    total $400,727 · excluded $400,727

  • 7a · Gross sales of assets other than inventory

    securities $7,600,000 · other assets $154

  • 7b · Less cost or other basis and sales expenses

    securities $7,431,227 · other assets $0

  • 7c · Gain or loss

    securities $168,773 · other assets $154

  • 7d · Net gain or loss

    total $168,927 · excluded $168,927

  • 11d · All other revenue

    total $11,968 · related or exempt $6,908 · excluded $5,060

  • 11e · Other revenue, total

    $11,968

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,300,829 · program services $2,300,829

  • 3 · Grants to foreign organizations and individuals

    total $3,485,422 · program services $3,485,422

  • 5 · Compensation of officers, directors and key employees

    total $868,741 · program services $597,405 · management and general $148,221 · fundraising $123,115

  • 7 · Other salaries and wages

    total $4,854,528 · program services $3,338,304 · management and general $828,259 · fundraising $687,965

  • 8 · Pension plan contributions

    total $186,359 · program services $128,153 · management and general $31,796 · fundraising $26,410

  • 9 · Other employee benefits

    total $567,223 · program services $390,062 · management and general $96,777 · fundraising $80,384

  • 10 · Payroll taxes

    total $298,654 · program services $205,375 · management and general $50,955 · fundraising $42,324

  • 11b · Fees: legal

    total $19,938 · program services $19,938

  • 11c · Fees: accounting

    total $110,834 · management and general $110,834

  • 11g · Fees: other

    total $295,402 · program services $168,750 · management and general $94,164 · fundraising $32,488

  • 12 · Advertising and promotion

    total $194,483 · program services $1,666 · fundraising $192,817

  • 13 · Office expenses

    total $239,875 · program services $143,580 · management and general $77,311 · fundraising $18,984

  • 14 · Information technology

    total $243,008 · program services $88,277 · management and general $123,700 · fundraising $31,031

  • 16 · Occupancy

    total $109,144 · program services $73,740 · management and general $28,502 · fundraising $6,902

  • 17 · Travel

    total $616,384 · program services $460,297 · management and general $101,191 · fundraising $54,896

  • 19 · Conferences, conventions and meetings

    total $8,401 · program services $6,274 · management and general $1,379 · fundraising $748

  • 22 · Depreciation, depletion and amortization

    total $21,000 · program services $12,286 · management and general $8,465 · fundraising $249

  • 23 · Insurance

    total $13,849 · program services $9,357 · management and general $3,616 · fundraising $876

  • 24a · Other expenses: FIELD OPERATIONS

    total $1,856,392 · program services $1,856,392

  • 24b · Other expenses: RECRUITMENT

    total $176,252 · program services $121,203 · management and general $30,071 · fundraising $24,978

  • 24c · Other expenses: TRAINING

    total $47,474 · program services $32,646 · management and general $8,100 · fundraising $6,728

  • 24e · All other expenses

    total $164,715 · program services $121,956 · management and general $41,538 · fundraising $1,221

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,028,848 · end of year $709,443

  • 2 · Savings and temporary cash investments

    beginning of year $9,166,865 · end of year $1,808,313

  • 4 · Accounts receivable

    beginning of year $1,045,453 · end of year $1,949,350

  • 9 · Prepaid expenses and deferred charges

    beginning of year $138,595 · end of year $209,485

  • 10a · Land, buildings and equipment: cost or other basis

    $180,661

  • 10b · Land, buildings and equipment: accumulated depreciation

    $113,644

  • 10c · Land, buildings and equipment, net

    beginning of year $63,468 · end of year $67,017

  • 11 · Investments: publicly traded securities

    end of year $13,754,527

  • 14 · Intangible assets

    beginning of year $60,067 · end of year $75,630

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,084,902 · end of year $1,274,143

  • 19 · Deferred revenue

    beginning of year $470,794 · end of year $1,268,459

  • 25 · Other liabilities

    beginning of year $60,067 · end of year $75,630

  • 27 · Net assets without donor restrictions

    beginning of year $11,108,238 · end of year $13,058,903

  • 28 · Net assets with donor restrictions

    beginning of year $3,779,295 · end of year $2,896,630

Mission and programs · 2023

Mission

VILLAGE ENTERPRISE'S MISSION IS TO END EXTREME POVERTY IN RURAL AFRICA THROUGH ENTREPRENEURSHIP AND INNOVATION. PARTNERING WITH GOVERNMENTS, NONPROFITS, UNITED NATIONS AGENCIES, CONSERVATION ORGANIZATIONS, AND PRIVATE SECTOR COMPANIES, (SEE SCHEDULE O)VILLAGE ENTERPRISE EQUIPS FIRST-TIME ENTREPRENEURS IN AFRICA WITH RESOURCES AND SKILLS TO START CLIMATE-SMART BUSINESSES AND SAVINGS GROUPS. LOCALLY-LED AND COMMUNITY-BASED, THE ORGANIZATION WORK WITH THE MOST VULNERABLE WOMEN, REFUGEES, AND YOUTH IN RURAL AFRICA AND EQUIP THEM TO ADAPT TO THE SHOCKS OF DROUGHT, DISPLACEMENT, THE PANDEMIC, AND CONFLICT.

Activities or mission (Part I)

TO END EXTREME POVERTY IN RURAL AFRICA THROUGH ENTREPRENEURSHIP AND INNOVATION. (SEE SCHEDULE O)PARTNERING WITH GOVERNMENTS, NONPROFITS, UNITED NATIONS AGENCIES, CONSERVATION ORGANIZATIONS, AND PRIVATE SECTOR COMPANIES, VILLAGE ENTERPRISE EQUIPS FIRST-TIME ENTREPRENEURS IN AFRICA WITH RESOURCES AND SKILLS TO START CLIMATE-SMART BUSINESSES AND SAVINGS GROUPS. LOCALLY-LED AND COMMUNITY-BASED, THE ORGANIZATION WORK WITH THE MOST VULNERABLE WOMEN, REFUGEES, AND YOUTH IN RURAL AFRICA AND EQUIP THEM TO ADAPT TO THE SHOCKS OF DROUGHT, DISPLACEMENT, THE PANDEMIC, AND CONFLICT.

  • THE DELIVERING RESILIENT ENTERPRISES AND MARKET SYSTEMS (DREAMS) PROJECT PROVIDES INNOVATIVE SOLUTION THAT DRIVES REFUGEE SELF-RELIANCE. THE PROJECT IS COFUNDED BY FIVE FOUNDATIONS AND IT AIMS TO EQUIP TWO HUNDRED THOUSAND OF THE MOST VULNERABLE REFUGEES IN UGANDA AND ETHIOPIA WITH SKILLS AND RESOURCES TO BECOME SUCCESSFUL ENTREPRENEURS.

    Expenses $9,543,540 · Grants $5,786,251 · Revenue $6,908

  • CATHOLIC RELIEF SERVICES (CRS)-NAWIRI - CRS AND THE CONSORTIUM VILLAGE ENTERPRISE FUND IS A MEMBER OF WERE AWARDED A FEDERAL COOPERATIVE AGREEMENT FROM USAID TO IMPLEMENT THE USAID MFUMO IMARA LISHE ENDELEVU (MILE) PROGRAM IN DELIVERING A MULTISECTORAL PACKAGE OF SERVICES TO SUPPORT LOCAL INSTITUTIONS TO SUSTAINABLY REDUCE PERSISTENT ACUTE MALNUTRITION AMONG VULNERABLE SUBPOPULATIONS OF ISIOLO AND MARSABIT COUNTIES IN KENYA. VILLAGE ENTERPRISE LEADS A POVERTY GRADUATION PROGRAM BY BUILDING ON ITS ENTREPRENEURIAL FOUNDATION THAT HAS SUPPORTED NEW ENTERPRISES IN KENYA.

    Expenses $2,445,484

  • THE GLOBAL DEVELOPMENT INCUBATOR (GDI), IN CONSORTIUM WITH VILLAGE ENTERPRISE AND THE BOMA PROJECT, HAS BEEN AWARDED A GRANT BY THE GOVERNMENT OF KENYA'S MINISTRY OF LABOR AND SOCIAL PROTECTION, AND THE STATE DEPARTMENT FOR SOCIAL PROTECTION. THIS GRANT IS FOR EXECUTING A SUBAWARD TITLED "PROVISION OF TECHNICAL ASSISTANCE TO SUPPORT IMPLEMENTATION OF ECONOMIC INCLUSION INTERVENTION," UNDER THE KENYA SOCIAL ECONOMIC INCLUSION PROJECT.

    Expenses $551,012

  • VILLAGE ENTERPRISE FUND WAS AWARDED A FEDERAL COOPERATIVE AGREEMENT FROM USAID TO IMPLEMENT THE USAID SCALING SUSTAINABLE POVERTY GRADUATION PROGRAM IN RWANDA. THE PROGRAM SUPPORTS FIRST-TIME ENTREPRENEURS IN MOVING BEYOND EXTREME POVERTY BY EQUIPPING THEM WITH THE RESOURCES, KNOWLEDGE, AND LEADERSHIP SKILLS NEEDED TO START SUSTAINABLE BUSINESSES AND SAVINGS GROUPS. THROUGH THIS PROGRAM, VILLAGE ENTERPRISE AIMS TO EXPONENTIALLY SCALE ITS COST-EFFECTIVE, INNOVATIVE, AND EVIDENCE-BASED GRADUATION APPROACH, BOTH BY EXPANDING DIRECT IMPLEMENTATION IN RWANDA AND BY FOSTERING REPLICATION AND ADOPTION OF THE MODEL BY THE GOVERNMENT OF RWANDA AND OTHER AFRICAN COUNTRIES. THE GOAL IS TO REACH 10 MILLION BENEFICIARIES WITHIN TEN YEARS.

    Expenses $1,021,876

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bruce Sewell

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 0.4 related

  • Dianne Calvi

    CEO & PRESIDENT

    Total calculated
    $272,181
    From this org
    $245,786
    From related orgs
    $0
    Other
    $26,395
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $223,913
    Bonus
    $21,873
    Other
    $0
    Deferred
    $7,386
    Nontaxable benefits
    $19,009
    Filer's total
    $272,181

  • Emeka Ajoku

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Jamie Austin

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 0.4 related

  • Katie Boland

    CHAIR

    Total calculated
    $0
    Hours/week
    6

  • Aleksandra Peters

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alexis Rwabizambuga

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Debbie Hall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Ermias Eshetu

    DIRECTOR (UNTIL 2/2024)

    Total calculated
    $0
    Hours/week
    1

  • Evelyn Namara

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jay Friedrichs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lisa Guerra

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mary Dosunmu

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Mithika

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patrick Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Serah Kimani

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Abdi Debela

    CHIEF FINANCIAL OFFICER

    Total calculated
    $203,804
    From this org
    $188,364
    From related orgs
    $0
    Other
    $15,440
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $151,814
    Bonus
    $36,550
    Other
    $0
    Deferred
    $5,771
    Nontaxable benefits
    $9,669
    Filer's total
    $203,804

  • Liz Corbishley

    CHIEF STRATEGY OFFICER(UNTIL 2/2024)

    Total calculated
    $134,207
    From this org
    $125,919
    From related orgs
    $0
    Other
    $8,288
    Hours/week
    40

  • Winnie Auma

    CHIEF PROGRAMS OFFICER

    Total calculated
    $139,097
    From this org
    $119,906
    From related orgs
    $0
    Other
    $19,191
    Hours/week
    40

  • Zach Hoins

    CHIEF OPERATING OFFICER

    Total calculated
    $166,333
    From this org
    $152,315
    From related orgs
    $0
    Other
    $14,018
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,749
    Bonus
    $13,566
    Other
    $0
    Deferred
    $4,576
    Nontaxable benefits
    $9,442
    Filer's total
    $166,333

  • Brett Slezak

    VICE PRESIDENT OF MARKETING & COMMUNICATIONS

    Total calculated
    $125,826
    From this org
    $121,254
    From related orgs
    $0
    Other
    $4,572
    Hours/week
    40

  • Caroline Bernadi

    HEAD OF INNOVATIVE FINANCING

    Total calculated
    $133,511
    From this org
    $129,618
    From related orgs
    $0
    Other
    $3,893
    Hours/week
    40 + 0.5 related

  • Celeste Brubaker

    CHIEF IMPACT OFFICER

    Total calculated
    $150,998
    From this org
    $137,575
    From related orgs
    $0
    Other
    $13,423
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,140
    Bonus
    $12,435
    Other
    $0
    Deferred
    $4,194
    Nontaxable benefits
    $9,229
    Filer's total
    $150,998

  • Evelyne Mkungo

    VICE PRESIDENT OF PEOPLE & CULTURE

    Total calculated
    $114,451
    From this org
    $107,331
    From related orgs
    $0
    Other
    $7,120
    Hours/week
    40

  • Tadeo Muriuki

    CHIEF GOVERNMENT RELATIONS OFFICER

    Total calculated
    $154,486
    From this org
    $148,805
    From related orgs
    $0
    Other
    $5,681
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,555
    Bonus
    $13,250
    Other
    $0
    Deferred
    $4,470
    Nontaxable benefits
    $1,211
    Filer's total
    $154,486

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 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
CERTAIN EMPLOYEES RECEIVED A PERFORMANCE BASED BONUS PAYMENT, BASED ON COMPANY PERFORMANCE METRICS AND CONTRACT STIPULATIONS. THE CEO AND PRESIDENT'S BONUS IS AT THE DISCRETION OF THE BOARD.

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

  • MERCY CORPS

    $2,053,724

    SUBAWARD FUNDING FOR DREAMS PROJECT WORK IN UGANDA AND ETHIOPIA.

  • ARIZONA STATE UNIVERSITY

    $90,895

    SUBAWARD FUNDING FOR THE NGOGO CHIMPANZEE PROJECT WORK IN UGANDA

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202501359349315340

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