Wegene Ethiopian Foundation
- Assets
- $452.1k
- Revenue
- $337.9k
- Investments
- $0.0
- Employees
- 0
- Location
- McLean, VA
- Founding
- 02/2004
- Data as of
- 05/2024
- EIN
- 35-2165352
Organization Overview
Wegene Ethiopian Foundation is located in McLean, VA. The organization was established in 2004. According to its NTEE Classification (Q30) the organization is classified as: International 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. Wegene Ethiopian Foundation 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 05/2024, Wegene Ethiopian Foundation generated $337.9k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $272.2k during the year ending 05/2024. While expenses have increased by 13.1% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
WEGENE'S MISSION IS TO IMPROVE THE DAILY LIVES OF THE LESS FORTUNATE AND DISADVANTAGED CHILDREN AND THEIR FAMILIES IN ETHIOPIA BY OVERCOMING THREE CRITICAL BARRIERS IN THE SEEMINGLY UNBREAKABLE POVERTY CYCLE: POOR OR NO EDUCATION, POOR HOUSING, FAMILY INSTABILITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE CONTINUE TO PROVIDE THE FAMILIES WITH FOOD, SHELTER, SCHOOL TUITION AND SUPPLIES. BECAUSE OF EXAGGERATED INFLATION IN ETHIOPIA, FAMILIES ARE FINDING IS HARD TO MAKE ENDS MEET WITH THE REGULAR DISTRIBUTION. SO, THE FOUNDATION HAS DECIDED TO BUY GRAINS, RICE, OIL AND OTHER NECESSARY FOOD SUPPLIES IN BULK AND DISTRIBUTE THEM QUARTERLY TO GIVE FAMILIES RELIEF WITH THIS SITUATION.
THE KNOWLEDGE CENTER CONTINUES TO SERVE AS CLASSROOM TO HELP STUDENTS TO GET ONSITE TUTORING AND ALSO GIVE THEM ACCESS TO COMPUTERS AND INTERNET CONNECTIONS. THE FACILITY IS ALSO USED FOR SUMMER PROGRAMS AND TRAININGS.
STUDENTS WITH POTENTIAL TO EXCEL IN THEIR STUDIES ARE GIVEN SCHOLARSHIPS TO PRIVATE SCHOOLS. WEGENE PARTNERS WITH LOCAL PRIVATE SCHOOLS TO HELP THESE STUDENTS WITH THEIR TUITIONS AND SCHOOL SUPPLIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amarech Worku Director Of Fundraising Crafts | Trustee | 15 | $0 |
Hiwot Alemayehu Director Of Public Relations | Trustee | 15 | $0 |
Nini F Legesse Executive Director | Trustee | 25 | $0 |
Kelemework Yimam Director Of Operations | Trustee | 15 | $0 |
Elizabeth Afessa Director Of Development | Trustee | 15 | $0 |
Hirut Gorems Director Of Finance | Trustee | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $6,308 |
| Membership dues | $29,448 |
| Fundraising events | $241,248 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,930 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $337,934 |
| 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 | $337,934 |
| 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 | $145,894 |
| 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 | $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 | $2,441 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,702 |
| Information technology | $4,529 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,031 |
| 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 | $272,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,850 |
| Savings and temporary cash investments | $317,945 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $66,056 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $27,775 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,497 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $452,123 |
| Accounts payable and accrued expenses | $2,806 |
| 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 | $2,806 |
| Net assets without donor restrictions | $438,379 |
| Net assets with donor restrictions | $10,938 |
| 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 | $452,123 |