African Diaspora Network
- Assets
- $1.0m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Santa Clara, CA
- Founding
- 03/2014
- Data as of
- 12/2023
- EIN
- 46-0632056
Organization Overview
African Diaspora Network is located in Santa Clara, CA. The organization was established in 2014. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, African Diaspora Network employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. African Diaspora Network 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, African Diaspora Network generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 40.3% each year . All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 42.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ACCELERATING BLACK LEADERSHIP AND ENTREPRENEURSHIP (ABLE) IS AN ENTERPRISE ACCELERATOR PROGRAM DESIGNED TO STRENGTHEN, ENERGIZE, AND SUPPORT 15-20 SMALL BUSINESSES AND NONPROFIT ORGANIZATIONS LED BY BLACK ENTREPRENEURS IN THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ABLE IS AN ENTERPRISE ACCELERATOR PROGRAM DESIGNED TO STRENGTHEN, ENERGIZE, AND SUPPORT SMALL BUSINESSES AND NONPROFIT ORGANIZATIONS LED BY BLACKS IN THE UNITED STATES. ABLE IDENTIFIES 15-20 BLACK BUSINESS LEADERS CATALYZING AN ARRAY OF SUSTAINABLE SOLUTIONS TO POVERTY ACROSS MULTIPLE SECTORS AT THE LOCAL AND NATIONAL LEVEL. THIS INCLUDES EDUCATION, HEALTHCARE, FINANCE, CONNECTIVITY, AGRICULTURE, AND RENEWABLE ENERGY, ALL OF WHICH ADDRESS ESSENTIAL COMMUNITY NEEDS WHILE SPURRING SUSTAINABLE GROWTH.
ADIS AFRICAN DIASPORA INVESTMENT SYMPOSIUM IS AN ANNUAL GLOBAL CONVENING THAT CELEBRATES AND CHAMPIONS THE ENTREPRENEURIAL AND INNOVATIVE SPIRIT OF AFRICANS, DIASPORIANS, AND FRIENDS OF AFRICA AND INSPIRES PARTICIPANTS TO BE AGENTS OF CHANGE AND ACTIVE CONTRIBUTORS TO AFRICA'S DEVELOPMENT.IIF IMPACT & INNOVATION FORUMS IS A YEAR ROUND SPEAKER SERIES ACROSS SILICON VALLEY, WASHINGTON DC NYC, AND VIRTUALLY WITH THOUGHT-PROVOKING CONVERSATIONS AROUND STRATEGIC AND CONSISTENT DIASPORA ENGAGEMENT IN AFRICA'S FUTURE.
BAF BUILDERS OF AFRICAS FUTURE IS A SESSION THAT CELEBRATES INNOVATION AND IMPACT IN EARLY-STAGE AFRICAN ENTERPRISE. BAF SERVES TO SHOWCASE AND AWARD ENTREPRENEURS WHO ARE RUNNING EARLY-STAGE FOR-PROFIT AND NON-FOR-PROFITS THAT ARE ADDRESSING AFRICA'S UNIQUE NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Almaz Negash Ed/secretary | OfficerTrustee | 40 | $150,000 |
Twum Djin Board Chair | OfficerTrustee | 10 | $0 |
Innocent Shumba Treasurer | OfficerTrustee | 3 | $0 |
Josh Ghaim Director | Trustee | 3 | $0 |
Duncan Goldie-Scott Director | Trustee | 3 | $0 |
Ndeye Makalou Director | Trustee | 3 | $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 | $1,168,278 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,168,278 |
| Total Program Service Revenue | $0 |
| Investment income | $172 |
| 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 | $1,168,450 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $216,600 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $155,769 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $210,522 |
| Pension plan accruals and contributions | $5,150 |
| Other employee benefits | $10,002 |
| Payroll taxes | $26,384 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $73,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $53,049 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $97,140 |
| Advertising and promotion | $385 |
| Office expenses | $63,559 |
| Information technology | $20,917 |
| Royalties | $0 |
| Occupancy | $7,200 |
| Travel | $80,765 |
| 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 | $720 |
| Insurance | $840 |
| All other expenses | $0 |
| Total functional expenses | $1,289,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $401,570 |
| Savings and temporary cash investments | $572,072 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,675 |
| 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 | $42,080 |
| Net Land, buildings, and equipment | $366 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,026,763 |
| Accounts payable and accrued expenses | $13,913 |
| Grants payable | $0 |
| Deferred revenue | $10,325 |
| 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 | $24,238 |
| Net assets without donor restrictions | $743,314 |
| Net assets with donor restrictions | $259,211 |
| 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 | $1,026,763 |