Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $121,928,679

• 3 · Investment income

  total $4,378,893 · excluded $4,378,893

• 7a · Gross sales of assets other than inventory

  securities $238,981 · other assets $42,965

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

  securities $0 · other assets $3,812

• 7c · Gain or loss

  securities $238,981 · other assets $39,153

• 7d · Net gain or loss

  total $278,134 · excluded $278,134

• 11d · All other revenue

  total $173,411 · related or exempt $173,411

• 11e · Other revenue, total

  $173,411

Functional expenses

Part IX, the statement of functional expenses.

• 3 · Grants to foreign organizations and individuals

  total $40,151,265 · program services $40,151,265

• 5 · Compensation of officers, directors and key employees

  total $3,803,363 · program services $2,974,197 · management and general $829,166

• 7 · Other salaries and wages

  total $20,552,025 · program services $16,071,507 · management and general $4,480,518

• 8 · Pension plan contributions

  total $7,250,581 · program services $5,669,892 · management and general $1,580,689

• 10 · Payroll taxes

  total $2,808,083 · program services $2,195,897 · management and general $612,186

• 11b · Fees: legal

  total $56,269 · program services $49,337 · management and general $6,932

• 11c · Fees: accounting

  total $181,958 · program services $159,543 · management and general $22,415

• 11f · Fees: investment management

  total $60,953 · program services $60,953

• 11g · Fees: other

  total $15,953,510 · program services $13,991,551 · management and general $1,961,959

• 12 · Advertising and promotion

  total $25,973 · program services $10,042 · management and general $15,931

• 13 · Office expenses

  total $1,100,433 · program services $425,449 · management and general $674,984

• 14 · Information technology

  total $1,612,043 · program services $623,247 · management and general $988,796

• 16 · Occupancy

  total $1,416,669 · program services $547,712 · management and general $868,957

• 17 · Travel

  total $5,068,729 · program services $4,242,248 · management and general $826,481

• 19 · Conferences, conventions and meetings

  total $9,445,865 · program services $9,186,926 · management and general $258,939

• 22 · Depreciation, depletion and amortization

  total $488,584 · program services $188,896 · management and general $299,688

• 23 · Insurance

  total $34,688 · program services $13,411 · management and general $21,277

• 24a · Other expenses: PROJECT EXPENSES

  total $1,932,639 · program services $747,196 · management and general $1,185,443

• 24b · Other expenses: BOARD/COUNCIL EXPENSES

  total $1,289,618 · program services $498,591 · management and general $791,027

• 24c · Other expenses: VAT

  total $1,203,780 · program services $465,405 · management and general $738,375

• 24d · Other expenses: TRAINING

  total $512,460 · program services $198,127 · management and general $314,333

• 24e · All other expenses

  total $467,497 · program services $180,743 · management and general $286,754

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $16,990 · end of year $175,289

• 2 · Savings and temporary cash investments

  beginning of year $104,278,469 · end of year $116,090,492

• 4 · Accounts receivable

  beginning of year $4,105,469 · end of year $6,186,256

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,151,622 · end of year $1,314,366

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

  $5,166,518

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

  $4,755,806

• 10c · Land, buildings and equipment, net

  beginning of year $411,912 · end of year $410,712

• 11 · Investments: publicly traded securities

  beginning of year $29,205,534 · end of year $30,498,897

• 13 · Investments: program-related

  beginning of year $13,523,553 · end of year $13,480,268

• 14 · Intangible assets

  beginning of year $775,581 · end of year $3,114,035

• 15 · Other assets

  beginning of year $310,120 · end of year $391,735

• 17 · Accounts payable and accrued expenses

  beginning of year $29,696,277 · end of year $34,069,605

• 18 · Grants payable

  beginning of year $2,710,525 · end of year $2,220,402

• 24 · Unsecured notes and loans payable

  beginning of year $17,687,238 · end of year $17,875,457

• 25 · Other liabilities

  beginning of year $825,298 · end of year $3,190,605

• 27 · Net assets without donor restrictions

  beginning of year $4,385,676 · end of year $15,831,745

• 28 · Net assets with donor restrictions

  beginning of year $98,474,236 · end of year $98,474,236

The filer's explanations (Part III)

PART I, LINE 1A

ALL REGIONALLY RECRUITED STAFF ARE ENTITLED AN ANNUAL HOUSE ALLOWANCE RANGING BETWEEN $27,000 FOR $40,000. ADDITIONALLY, INTERNATIONALLY RECRUITED STAFF ARE ALSO ENTITLED TO SCHOOL FEES ALLOWANCE TO A MAXIMUM OF $16,000 PER DEPENDANT AND REIMBURSMENTS ARE MADE UPON RECEIPT OF INVOICE AND PROOF OF PAYMENT BY THE STAFF.

PART I, LINE 1B

REIMBURSMENTS ARE MADE UPON RECEIPT OF INVOICE AND PROOF OF PAYMENT BY STAFF.

PART I, LINE 7

AMOUNTS IN COLUMN B(II) REPRESENT BONUSES, WHICH WERE APPROVED BY THE BOARD AND INCLUDED IN TAXABLE COMPENSATION.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• AFRICA ENTERPRISE CHALLENGE FUND

  GRANT MAKING · DE · income $20,538,586 · assets $39,473,290

  Directly controlled by AGRA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• AFRICAN SEED INVESTMENT FUND

  C · INVESTMENT · MP · 99.99% owned · share of income $20,539 · share of assets $40,072 · controlled entity

  Directly controlled by AGRA