Cocoa360 Fund
- Assets
- $18.6k
- Revenue
- $229.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Cambridge, MA
- Founding
- 02/2016
- Data as of
- 12/2022
- EIN
- 47-4120941
Organization Overview
Cocoa360 Fund, operating under the name Cocoa360, is located in Cambridge, MA. The organization was established in 2016. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cocoa360 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 12/2022, Cocoa360 generated $229.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $225.1k during the year ending 12/2022. While expenses have increased by 22.7% 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 LEVERAGE EXISTING COMMUNITY RESOURCES TO FUND IMPROVEMENTS IN EDUCATION AND HEALTHCARE AND BUILD A SELF-SUSTAINING DEVELOPMENT MODEL THAT PUTS THE UNDERPRIVILEGED RURAL COCOA FARMERS IN THE DRIVER'S SEAT OF DEVELOPMENT. OUR PIONEERING MODEL USES COCOA TO TRANSFORM COMMUNITY INFRASTRUCTURE AND FACILITATE CONSISTENT ACCESS TO EDUCATION AND HEALTHCARE. WE HOPE TO REPLICATE THIS MODEL TO EMPOWER RURAL FARMING COMMUNITIES ALL OVER THE WORLD
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION AWARDED A TOTAL OF $208780 IN GRANTS TO ITS LOCAL AFFILIATE TARKWA BREMAN COMMUNITY ALLIANCE TO RUN ITS CENTRE OF EXCELLENCE CAMPUS - A GIRLS' SCHOOL CLINIC AND COMMUNITY LIBRARY. IN EXCHANGE OF TUITION-FREE EDUCATION AND SUBSIDIZED HEALTHCARE SERVICES COMMUNITY MEMBERS WORK ON A COMMUNITY RUN COCOA FARM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shadrack Frimpong Chief Executive Officer | Officer | 20 | $0 |
Julian Addo CFO | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $229,424 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $229,424 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $229,424 |
| 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 | $207,673 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,510 |
| Compensation of current officers, directors, key employees. | $3,510 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,368 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,230 |
| Office expenses | $1,078 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $200 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $225,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,553 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Total assets | $18,553 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $18,553 |
| 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 | $18,553 |