Empower-Emerging Markets Foundation
- Assets
- $11.4m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 14
- Location
- New York, NY
- Founding
- 01/2005
- Data as of
- 06/2021
- EIN
- 03-0529005
Organization Overview
Empower-Emerging Markets Foundation is located in New York, NY. The organization was established in 2005. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 06/2021, Empower-Emerging Markets Foundation employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Empower-Emerging Markets Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Empower-Emerging Markets Foundation generated $8.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $7.7m during the year ending 06/2021. While expenses have increased by 6.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EMPOWER CONNECTS GLOBAL RESOURCES WITH LOCAL SOLUTIONS SO THAT MARGINALIZED YOUNG PEOPLE (AGES 10-24) IN EMERGING MARKET COUNTRIES CAN CREATE BOLD, TRANSFORMATIVE CHANGE IN THEIR LIVES AND COMMUNITIES. EMPOWER IS BUILDING A WORLD WHERE YOUNG PEOPLE AT THE MARGINS, ESPECIALLY GIRLS, HAVE THE TOOLS, SKILLS AND POWER TO LIVE THEIR BEST LIVES. KEEPING GENDER EQUITY AND INCLUSION AT THE HEART OF EVERYTHING WE DO, WE INVEST IN LOCAL COMMUNITY-BASED ORGANIZATIONS TO EMPOWER MARGINALIZED YOUNG PEOPLE TO REACH THEIR FULLEST POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMPOWER MADE ITS LARGEST NUMBER AND AMOUNT OF GRANTS, TO 100+ PARTNERS IN 15 EMERGING MARKET COUNTRIES IN AFRICA, ASIA, EUROPE AND LATIN AMERICA. AN IMPORTANT EMPHASIS WAS ENABLING THEM TO HELP MARGINALIZED YOUNG PEOPLE COPE WITH THE EFFECTS OF COVID, ON THEIR HEALTH AND WELLBEING, SCHOOLING AND LEARNING, AND OPPORTUNITIES FOR JOBS IN CHANGED LABOR MARKETS. GRANTMAKING WAS ACCOMPANIED BY VIRTUAL LEARNING EXCHANGES AND COMMUNITIES OF PRACTICE, ACTION RESEARCH WITH GRANTEES AND YOUNG PEOPLE, AND STRATEGIC PARTNERSHIP - ALL WITH THE AIM OF ENABLING THE MOST EFFECTIVE USE OF FUNDING TO MEET PRESSING NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Steele President | OfficerTrustee | 40 | $208,777 |
Larry Bloom Director Of Global Finance | Officer | 40 | $144,650 |
Wilson Ventura Director Of Finance | 40 | $110,050 | |
Robert Kushen Program Chair-Us | OfficerTrustee | 1 | $0 |
Andrew Seiz Finance Chair-Hk | OfficerTrustee | 1 | $0 |
Tom Saidy Development Co-Chair-Us | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,524,942 |
| Related organizations | $0 |
| Government grants | $255,975 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,071,087 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,852,004 |
| Total Program Service Revenue | $0 |
| Investment income | $576 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,896,356 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,111,720 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $387,779 |
| Compensation of current officers, directors, key employees. | $82,968 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,739,324 |
| Pension plan accruals and contributions | $130,303 |
| Other employee benefits | $142,815 |
| Payroll taxes | $148,798 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,641 |
| Fees for services: Accounting | $88,030 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $454,961 |
| Advertising and promotion | $0 |
| Office expenses | $22,491 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $124,685 |
| Travel | $10,355 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,718 |
| Insurance | $6,870 |
| All other expenses | $0 |
| Total functional expenses | $7,728,769 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,327,836 |
| Savings and temporary cash investments | $3,823,206 |
| Pledges and grants receivable | $1,071,038 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $79,179 |
| Net Land, buildings, and equipment | $18,392 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,392 |
| Total assets | $11,350,043 |
| Accounts payable and accrued expenses | $234,972 |
| Grants payable | $3,314,375 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,549,347 |
| Net assets without donor restrictions | $5,969,664 |
| Net assets with donor restrictions | $1,831,032 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,350,043 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Empower-Emerging Markets Foundation has recieved totaling $868,469.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: INTERNATIONAL, FOREIGN AFFAIRS | $380,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $268,085 |
Estee Lauder Companies Charitable Foundation New York, NY PURPOSE: BRIGHT PROMISE INNOVATION FUND | $100,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $57,083 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: INTERNATIONAL HUMANITARIAN PROGRAMS | $23,500 |
David And Barbara B Hirschhorn Foundation Inc Baltimore, MD PURPOSE: GENERAL SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trustees Of Robert College Of Istanbul New York, NY | $10,685,892 | $20,101,446 |
American School In London Foundation Princeton, NJ | $2,370,011 | $19,085,987 |
American Community School At Beirut -Lebanon New York, NY | $38,176,805 | $18,283,695 |
Global Hunger Project New York, NY | $18,451,641 | $18,515,873 |
Buildon Inc Stamford, CT | $19,130,694 | $16,459,828 |
Womens World Banking Inc New York, NY | $45,990,561 | $24,725,214 |
Innovation Africa New York, NY | $6,054,720 | $16,340,258 |
Near East Foundation Syracuse, NY | $16,218,674 | $15,526,282 |
Amref Health Africa Inc New York, NY | $11,305,543 | $22,534,673 |
International Schools Services Inc Princeton, NJ | $22,409,212 | $13,743,105 |
British Schools And Universities Foundation Inc New York, NY | $4,352,409 | $13,471,425 |
Istanbul International Community School Inc Princeton, NJ | $19,037,423 | $13,733,005 |