Albanian-American Enterprise Fund
- Assets
- $82.8m
- Revenue
- $6.6m
- Investments
- $66.7m
- Employees
- 1
- Location
- New York, NY
- Founding
- 09/1995
- Data as of
- 09/2022
- EIN
- 13-3826249
Organization Overview
Albanian-American Enterprise Fund is located in New York, NY. The organization was established in 1995. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albanian-American Enterprise Fund 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 09/2022, Albanian-American Enterprise Fund generated $6.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.9%) each year. All expenses for the organization totaled $141.4k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (22.6%) per year over the past 7 years. 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
DEVELOPMENT OF PRIVATE SECTOR IN ALBANIA
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF PRIVATE SECTOR OF COUNTRY OF ALBANIA; THROUGH LOANS-GRANTS-EQUITY INVESTMENTS-FEASIBILITY STUDIES- TECHNICAL ASSISTANCE-TRAINING-INSURANCE-AND OTHER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael D Granoff Chairman | Trustee | 2 | $0 |
Dianne Blane Board Member | Trustee | 2 | $0 |
Aleksander Sarapuli Co-Ceo | Officer | 4 | $7,562 |
Martin Mata Co-Ceo | Officer | 4 | $7,562 |
Florida Qello Secretary | Officer | 4 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,898,248 |
| Investment income | $1,740,737 |
| 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 | $6,638,985 |
| 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. | $16,916 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,260 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,728 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $65,381 |
| Fees for services: Other | $318 |
| Advertising and promotion | $0 |
| Office expenses | $5,237 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $28,996 |
| All other expenses | $6,533 |
| Total functional expenses | $141,369 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,367,497 |
| 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 | $66,700,229 |
| Investments—program-related | $4,678,486 |
| Intangible assets | $0 |
| Other assets | $14,982 |
| Total assets | $82,761,194 |
| Accounts payable and accrued expenses | $609,565 |
| 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 | $609,565 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $15,000,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $67,151,629 |
| Total liabilities and net assets/fund balances | $82,761,194 |
Grants Awarded
Over the last fiscal year, Albanian-American Enterprise Fund has awarded $15,408,503 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALBANIAN-AMERICAN DEVELOPMENT FOUNDATION PURPOSE: ASSIST ALBANIA IN ITS TRANSITION TO A MARKET ECONOMY IN ACCORDANCE WITH EXEMPT PURPOSE AND GRANT AGREEMENTS. | $15,000,000 |
ALBANIAN-AMERICAN DEVELOPMENT FOUNDATION PURPOSE: ASSIST ALBANIA IN ITS TRANSITION TO A MARKET ECONOMY IN ACCORDANCE WITH EXEMPT PURPOSE AND GRANT AGREEMENTS. | $408,503 |