Village Enterprise Fund Inc
- Assets
- $9.6m
- Revenue
- $11.8m
- Investments
- $0.0
- Employees
- 14
- Location
- San Carlos, CA
- Founding
- 02/1988
- Data as of
- 06/2022
- EIN
- 22-2852248
Organization Overview
Village Enterprise Fund Inc is located in San Carlos, CA. The organization was established in 1988. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 06/2022, Village Enterprise Fund Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Village Enterprise Fund Inc 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 06/2022, Village Enterprise Fund Inc generated $11.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 28.4% each year . All expenses for the organization totaled $7.7m during the year ending 06/2022. While expenses have increased by 20.6% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO END EXTREME POVERTY IN RURAL AFRICA THROUGH ENTREPRENEURSHIP AND INNOVATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
VILLAGE ENTERPRISE'S MISSION IS TO END EXTREME POVERTY IN RURAL AFRICA THROUGH ENTREPRENEURSHIP AND INNOVATION. WE IMPLEMENT A HIGH-IMPACT MICRO-ENTERPRISE GRADUATION PROGRAM FOR PEOPLE LIVING IN EXTREME POVERTY IN UGANDA, KENYA AND RWANDA. THE ORGANIZATION ENGAGES GROUPS OF THREE ENTREPRENEURS WHO LIVE BELOW THE EXTREME POVERTY LEVEL OF $1.90 PER DAY IN A ONE-YEAR PROGRAM THAT PROVIDES SEED CAPITAL, TRAINING, AND ONGOING MENTORSHIP. THESE ENTREPRENEURS FORM BUSINESS SAVINGS GROUPS FOCUSED ON SAVINGS AND GROWTH CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aleksandra Peters Director | Trustee | 1 | $0 |
Barbara Bishop Director | Trustee | 4 | $0 |
Bruce Sewell Vice Chair | OfficerTrustee | 1 | $0 |
Deborah A Hall Director | Trustee | 4 | $0 |
Dianne Calvi CEO & President | OfficerTrustee | 40 | $176,233 |
Emeka Ajoku Treasurer | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $316,749 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,440,741 |
| Noncash contributions included in lines 1a–1f | $39,080 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,757,490 |
| Total Program Service Revenue | $37,000 |
| Investment income | $1,124 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $216 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,795,930 |
| 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 | $1,420,369 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $274,541 |
| Compensation of current officers, directors, key employees. | $32,118 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,991,931 |
| Pension plan accruals and contributions | $94,091 |
| Other employee benefits | $348,950 |
| Payroll taxes | $157,753 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,092 |
| Fees for services: Accounting | $45,740 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $192,603 |
| Advertising and promotion | $44,117 |
| Office expenses | $156,681 |
| Information technology | $83,392 |
| Royalties | $0 |
| Occupancy | $95,881 |
| Travel | $205,611 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,480 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,122 |
| Insurance | $8,749 |
| All other expenses | $57,688 |
| Total functional expenses | $7,739,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,744,140 |
| Savings and temporary cash investments | $2,049,431 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $735,527 |
| 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 | $941,972 |
| Net Land, buildings, and equipment | $82,865 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,553,935 |
| Accounts payable and accrued expenses | $148,779 |
| Grants payable | $0 |
| Deferred revenue | $484,143 |
| 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 | $632,922 |
| Net assets without donor restrictions | $3,317,531 |
| Net assets with donor restrictions | $5,603,482 |
| 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 | $9,553,935 |