Ethiopia Education Initiatives Inc
- Assets
- $15.4m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 9
- Location
- New York, NY
- Founding
- 09/2017
- Data as of
- 06/2024
- EIN
- 81-5480515
Organization Overview
Ethiopia Education Initiatives Inc is located in New York, NY. The organization was established in 2017. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2024, Ethiopia Education Initiatives Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ethiopia Education Initiatives 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 06/2024, Ethiopia Education Initiatives Inc generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 46.6% each year . All expenses for the organization totaled $2.3m during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY EDUCATIONAL OPPORTUNITIES FOR TALENTED STUDENTS IN ETHIOPIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE QUALITY EDUCATIONAL OPPORTUNITIES FOR TALENTED STUDENTS IN ETHIOPIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea Spinner Head Of School | 40 | $125,000 | |
Rebecca G Haile Director | OfficerTrustee | 30 | $0 |
Jean E Manas Director | Trustee | 5 | $0 |
Helen Mesfin Director | Trustee | 2 | $0 |
Liben Hailu Director | Trustee | 2 | $0 |
Aleesha Taylor Director | Trustee | 2 | $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 | $4,482,101 |
| Noncash contributions included in lines 1a–1f | $381,195 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,482,101 |
| Total Program Service Revenue | $265,960 |
| Investment income | $196,552 |
| 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 | $4,944,613 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $275,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,395 |
| Payroll taxes | $21,037 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $83,489 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $74,206 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,125 |
| Travel | $58,510 |
| 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 | $621,228 |
| Insurance | $21,451 |
| All other expenses | $67,501 |
| Total functional expenses | $2,314,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $136,172 |
| Savings and temporary cash investments | $5,973,018 |
| 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 | $78,716 |
| Net Land, buildings, and equipment | $9,253,411 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,441,317 |
| Accounts payable and accrued expenses | $141,099 |
| 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 | $330,055 |
| Total liabilities | $471,154 |
| Net assets without donor restrictions | $14,824,833 |
| Net assets with donor restrictions | $145,330 |
| 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 | $15,441,317 |