African Entrepreneurship Collective
- Assets
- $11.4m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 2
- Location
- Clinton, WA
- Founding
- 08/2013
- Data as of
- 12/2021
- EIN
- 46-0743201
Organization Overview
African Entrepreneurship Collective is located in Clinton, WA. The organization was established in 2013. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2021, African Entrepreneurship Collective employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. African Entrepreneurship Collective 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 12/2021, African Entrepreneurship Collective generated $6.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 73.2% each year . All expenses for the organization totaled $2.1m during the year ending 12/2021. While expenses have increased by 47.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
AEC'S MISSION IS TO SUPPORT AFRICAN ENTREPRENEURS TO GROW THEIR BUSINESSES TO CREATE JOBS, IMPROVE LIVELIHOODS, AND DEVELOP LASTING ECONOMIC DEVELOPMENT IN THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AEC CONTINUED TO PROVIDE TRAINING AND CONSULTING TO SMALL BUSINESSES ACROSS RWANDA, KENYA, AND ETHIOPIA, INCLDUING TO REFUGEE ENTREPRENEURS. IN TOTAL, WE WORKED WITH MORE THAN 30,000 BUISNESS IN 2021, AND OPENED NEW OPERATIONS IN ETHIOPIA TO PROVIDE THESE SERVICES TO REFUGEE ENTREPRENUERS. AEC ALSO BEGAN NEW OPERATIONS IN GARISSA, DADAAB, AND MOMBASA, KENYA IN FY2021.
AEC'S ROLE AS PROVIDING LOW-COST INVESTMENT TO SMALL BUSINESSES CONTINUED TO BE A CORE PART OF OUR SOCIAL MISSION TO ENSURE FINANCIAL INCLUSION FOR THOSE EXCLUDED FROM MAINSTREAM FINANCE. AEC PROVIDE INVESTMENT TO REFUGEES, INCLUDING MAKING AVAILABLE GRANTS, LOANS, AND SHARIA-COMPLIANT PRODUCTS FOR MUSLIM ENTREPRENUERS, ENSURING THAT SMALL BUSINESSES DON'T HAVE TO CHOSE BETWEEN GROWING THEIR BUSINESSES AND THEIR FAITH. WE PRIORITIZED SERVING WOMEN, YOUTH, AND THOSE EXCLUDED FROM TRADITIONAL BANKING SYSTEMS. AS PART OF ENCOURAGING NEW PARTNERS TO INVEST IN REFUGEES AND FORCABLY DISPLACED PEOPLE, AEC PARTNERED WITH UNHCR AND THE AMAHORO COALITION FOR THE 36 MILLION SOLUTIONS CONFERENCE, WHICH HIGHLIGHTED THE CHALLENGES FACED IN EDUCATION AND EMPLOYEMENT OF REFUGEES, AND ALSO MAKE A CALL TO ACTION FOR MORE PRIVATE SECTOR INVESTMENT IN REFUGEE COMMUNITIES.
AS PART OF A COLLABORATIVE PARTNERSHIP WITH SOUTHERN NEW HAMPSHIRE UNIVERSITY, AEC SUPPORTED THE EDUCATION INITIATIVES OF THE GEM HUB THAT ALLOW REFUGEE STUDENTS AROUND THE WORLD TO ACCESS QUALITY ON-LINE INSTRUCTION. AEC'S ROLE WAS TO FACILITATE OPERATIONAL SYSTEMS THAT ALLOWED FOR REFUGEES TO REVIEW STUDENT COURSE WORK, AND WE ALSO FACILITATED THE DISBURSEMENT OF US DEPARTMENT OF EDUCATION GRANTS (HERRF) TO HELP STUDENTS RECOVER FROM THE ECONOMIC IMPACTS OF COVID.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sara Leedom Co-Founder & COO | OfficerTrustee | 40 | $172,235 |
Julienne Oyler Co-Founder & CEO | OfficerTrustee | 40 | $172,235 |
Tom Ryan Treasurer | OfficerTrustee | 3 | $0 |
Maria Palma Vice Chair | OfficerTrustee | 3 | $0 |
Julia Taft Secretary | OfficerTrustee | 3 | $0 |
Michael Payne Chairman | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $619,271 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,807,934 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,427,205 |
| Total Program Service Revenue | $1,577,650 |
| Investment income | $228 |
| 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 | $6,049,617 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $344,471 |
| Compensation of current officers, directors, key employees. | $86,118 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,092 |
| Pension plan accruals and contributions | $6,435 |
| Other employee benefits | $14,648 |
| Payroll taxes | $12,757 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41,622 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $102,501 |
| Advertising and promotion | $0 |
| Office expenses | $8,897 |
| Information technology | $11,141 |
| Royalties | $0 |
| Occupancy | $2,677 |
| Travel | $6,174 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,856 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,467,989 |
| Total functional expenses | $2,088,260 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,113,619 |
| Savings and temporary cash investments | $257,584 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,063,579 |
| Total assets | $11,434,782 |
| Accounts payable and accrued expenses | $180,540 |
| Grants payable | $0 |
| 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 | $922,060 |
| Other liabilities | $0 |
| Total liabilities | $1,102,600 |
| Net assets without donor restrictions | $10,332,182 |
| Net assets with donor restrictions | $0 |
| 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 | $11,434,782 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that African Entrepreneurship Collective has recieved totaling $2,784,408.
| Awarding Organization | Amount |
|---|---|
The Mastercard Foundation PURPOSE: FINANCIAL INCLUSION | | $1,983,883 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: International Development | $729,100 |
Tides Foundation San Francisco, CA PURPOSE: EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT | $39,175 |
The Aspen Institute Inc Washington, DC PURPOSE: ADVANCING WOMEN'S EMPOWERMENT CATALYST FUND | $32,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Luke Commission Inc Sagle, ID | $15,926,571 | $20,745,366 |
Making A Difference Foundation Seattle, WA | $5,648,581 | $9,801,406 |
Washington State University Global Health Pullman, WA | $474,066 | $7,124,881 |
Worldreader Org Seattle, WA | $11,912,107 | $9,017,027 |
All Gods Children International Vancouver, WA | $4,347,832 | $7,534,520 |
International Childrens Care Inc Vancouver, WA | $2,390,869 | $3,895,114 |
Days For Girls International Mount Vernon, WA | $1,621,886 | $3,676,158 |
Childcare Worldwide Lynden, WA | $2,694,359 | $2,926,893 |
India Partners Eugene, OR | $2,001,509 | $3,503,989 |
Glenorchy Marketplace Foundation Bellevue, WA | $35,571,268 | $3,025,099 |
African Entrepreneurship Collective Clinton, WA | $11,434,782 | $6,049,617 |
Alliance For Children Everywhere Seattle, WA | $495,240 | $1,071,349 |