Middle East Investment Initiative Inc
- Assets
- $3.0m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Washington, DC
- Founding
- 11/2006
- Data as of
- 12/2023
- EIN
- 02-0760094
Organization Overview
Middle East Investment Initiative Inc is located in Washington, DC. The organization was established in 2006. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Middle East Investment Initiative Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Middle East Investment Initiative 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 12/2023, Middle East Investment Initiative Inc generated $3.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $2.9m during the year ending 12/2023. While expenses have increased by 1.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MEII WORKS TO STIMULATE ECONOMIC GROWTH AND CREATE JOBS IN THE MIDDLE EAST AND NORTH AFRICA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDED WITH THE CONVICTION THAT THE PATH TO SOCIAL AND POLITICAL SUITABILITY IN THE MENA REGION REQUIRES A SOUND AND SUSTAINABLE ECONOMIC BASE, MEII BREAKS FROM TRADITIONAL AID MODELS AND DESIGNS INNOVATIVE DEVELOPMENT FINANCE INITIATIVES THAT FOSTER ECONOMIC OPPORTUNITIES AND DIGNITY INSTEAD OF DEPENDENCY. MEII HAS BEEN PROVING FOR OVER A DECADE THAT FORMAL AND INFORMAL SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) ARE BOTH CREDIT WORTHY AND NET CONTRIBUTORS TO JOB CREATION IN THE MENA REGION. STARTING IN PALESTINE IN 2008 AND EXPANDING TO TUNISIA IN 2015, MEII HAS FINANCED OVER $616 MILLION IN LENDING TO MORE THAN 4,598 BUSINESSES WITH A CUMULATIVE LOSS RATE OF LESS THAN 1.5%. OVER THIS PERIOD, AN ESTIMATED 41,587 JOBS HAVE BEEN CREATED AND SUSTAINED IN THE REGION. MEII STIMULATES LOCAL BANK LENDING BY PROVIDING PARTNER BANKS WITH LOAN GUARANTEES AND TECHNICAL ASSISTANCE TO ASSESS THE VIABILITY OF THEIR SME CLIENTS AND STRUCTURE LOANS TO MEET BORROWER WORKING CAPITAL AND LONGER-TERM CAPITAL NEEDS.
MEII ALSO FACILITATES SME ACCESS TO CAPITAL BY IMPROVING THE ACCOUNTING AND FINANCIAL LITERACY OF BUSINESSES AND MATCHING THEM TO AVAILABLE CAPITAL THROUGH AN INNOVATIVE ONLINE PLATFORM CALLED "TAMWEELI". STARTING IN PALESTINE IN 2014 AND EXPANDING TO JORDAN AND TUNISIA, MORE THAN 3,705 SMES RECEIVED TECHNICAL ASSISTANCE FROM MEII BUSINESS ADVISORS. THE TAMWEELI PLATFORM HARNESSES THE SECURITY, SPEED, AND SIMPLICITY OF THE INTERNET TO STREAMLINE THE FINANCING PROCESS FOR BOTH FINANCIAL INTERMEDIARIES & SMES, CONNECTING BUSINESSES WITH FUNDING FOR GROWTH AND HELPING LENDERS AND INVESTORS ASSESS OPPORTUNITIES. MORE THAN 11,646 SMES HAVE REGISTERED ON THE PLATFORM AND $23.6 MILLION IN LOANS HAVE BEEN FINANCED BY LOCAL FINANCIAL INTERMEDIARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Pickup President And CEO | OfficerTrustee | 21 | $184,584 |
Martin Indyk Chair | OfficerTrustee | 4 | $0 |
Cathy Isaacson Vice Chair | OfficerTrustee | 2 | $0 |
Samer Asfour Director | Trustee | 2 | $0 |
Berl Bernhard Director | Trustee | 2 | $0 |
Carl Bildt Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Safa Recycling & Material Processing Recycling Services | 12/30/17 | $321,000 |
Nordic Consulting & Mgmt Business Development | 12/30/17 | $283,534 |
Safa Recycling & Material Processing Recycling Services | 12/30/17 | $321,000 |
Nordic Consulting & Mgmt Business Development | 12/30/17 | $283,534 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,562,826 |
| All other contributions, gifts, grants, and similar amounts not included above | $288,767 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,851,593 |
| Total Program Service Revenue | $310,520 |
| Investment income | $3,410 |
| 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 | $3,165,750 |
| 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. | $1,069,965 |
| Compensation of current officers, directors, key employees. | $228,123 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $612,497 |
| Pension plan accruals and contributions | $158,195 |
| Other employee benefits | $132,363 |
| Payroll taxes | $31,455 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,080 |
| Fees for services: Accounting | $127,163 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $207,225 |
| Advertising and promotion | $40,530 |
| Office expenses | $43,073 |
| Information technology | $126,018 |
| Royalties | $0 |
| Occupancy | $147,207 |
| Travel | $132,335 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $486 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,524 |
| Insurance | $12,438 |
| All other expenses | $0 |
| Total functional expenses | $2,876,616 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,814,750 |
| Savings and temporary cash investments | $800,297 |
| Pledges and grants receivable | $133,326 |
| Accounts receivable, net | $66,212 |
| 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 | $110,565 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $116,667 |
| Total assets | $3,041,817 |
| Accounts payable and accrued expenses | $817,045 |
| Grants payable | $0 |
| Deferred revenue | $653,084 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $19,526 |
| 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 | $127,947 |
| Total liabilities | $1,617,602 |
| Net assets without donor restrictions | $1,424,215 |
| 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 | $3,041,817 |