The Africa-America Institute
- Assets
- $4.8m
- Revenue
- $2.5m
- Investments
- $1.2m
- Employees
- 5
- Location
- New York, NY
- Founding
- 08/1954
- Data as of
- 12/2022
- EIN
- 53-0218859
Organization Overview
The Africa-America Institute is located in New York, NY. The organization was established in 1954. According to its NTEE Classification (Q05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Africa-America Institute employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Africa-America Institute 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, Africa-America Institute generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $3.4m during the year ending 12/2022. While expenses have increased by 9.1% 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
PROMOTING ENLIGHTENED ENGAGEMENT BETWEEN AFRICA AND AMERICA THROUGH SCHOLARSHIPS AND CONVENINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AAI'S AFRICAN HIGHER EDUCATION PROGRAM MANAGES SCHOLARSHIPS AND OTHERWISE PROVIDES OPPORTUNITIES FOR AFRICAN MEN AND WOMEN TO RECEIVE ADVANCED ACADEMIC, PROFESSIONAL, AND LEADERSHIP TRAINING WITHIN AND OUTSIDE AFRICA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nik Amarteifio Trustee | Trustee | 5 | $0 |
Peter Mckillop Trustee | Trustee | 5 | $0 |
Prof Ousseina Alidou Trustee | Trustee | 5 | $0 |
Mamadou Beye Trustee | Trustee | 5 | $0 |
Rebecca L Edwards Trustee | Trustee | 5 | $0 |
Michelle Gavin Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiscal Management Associates Finance And Accounting Services | 12/30/20 | $111,576 |
Glow Media Marketing Gala & Soe | 12/30/20 | $128,290 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $307,200 |
| Related organizations | $0 |
| Government grants | $103,506 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,876,380 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,287,086 |
| Total Program Service Revenue | $0 |
| Investment income | $68,274 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $90,955 |
| Net Income from Fundraising Events | $53,097 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,499,412 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $192,630 |
| Grants and other assistance to domestic individuals. | $13,845 |
| Grants and other assistance to Foreign Orgs/Individuals | $314,376 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $425,509 |
| Compensation of current officers, directors, key employees. | $98,319 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $225,246 |
| Pension plan accruals and contributions | $11,251 |
| Other employee benefits | $87,911 |
| Payroll taxes | $37,983 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,300 |
| Fees for services: Accounting | $84,951 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,479 |
| Fees for services: Other | $1,070,245 |
| Advertising and promotion | $0 |
| Office expenses | $104,749 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $114,479 |
| Travel | $312,575 |
| 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 | $11,968 |
| All other expenses | $6,865 |
| Total functional expenses | $3,425,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $302,449 |
| Pledges and grants receivable | $386,200 |
| 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 | $29,914 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,911,665 |
| Investments—other securities | $1,197,916 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,828,144 |
| Accounts payable and accrued expenses | $308,985 |
| 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 | $159,921 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,317,726 |
| Total liabilities | $2,786,632 |
| Net assets without donor restrictions | $1,312,716 |
| Net assets with donor restrictions | $728,796 |
| 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 | $4,828,144 |
Grants Awarded
Over the last fiscal year, The Africa-America Institute has awarded $192,630 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ASHESI UNIVERSITY FOUNDATION PURPOSE: TO IMPROVE HIGHER EDUCATION | $167,630 |
TUFTS UNIVERSITY PURPOSE: TO IMPROVE HIGHER EDUCATION | $25,000 |