Inkomoko
- Assets
- $28.3m
- Revenue
- $14.8m
- Investments
- $0.0
- Employees
- 2
- Location
- Clinton, WA
- Founding
- 08/2013
- Data as of
- 12/2023
- EIN
- 46-0743201
Organization Overview
Inkomoko, operating under the name African Entrepreneurship Collective, is located in Clinton, WA. The organization was established in 2013. 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 Entrepreneurship Collective employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. African Entrepreneurship Collective 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 Entrepreneurship Collective generated $14.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 42.1% each year . All expenses for the organization totaled $8.9m during the year ending 12/2023. 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
INKOMOKO'S MISSION IS TO SUPPORT AFRICAN ENTREPRENEURS TO GROW THEIR BUSINESSES TO CREATE JOBS, IMPROVE LIVELIHOODS, AND DEVELOP LASTING ECONOMIC DEVELOPMENT IN THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INKOMOKO CONTINUED TO PROVIDE TRAINING AND CONSULTING TO MICRO & SMALL BUSINESSES ACROSS RWANDA, KENYA, SOUTH SUDAN AND ETHIOPIA, INCLUDING TO REFUGEE ENTREPRENEURS. BY END OF 2023, AEC/INKOMOKO HAD WORKED WITH MORE THAN 60,000 CLIENTS SINCE OUR FOUNDING IN 2012.
INKOMOKO'S ROLE AS PROVIDING LOW-COST INVESTMENT TO SMALL BUSINESSES CONTINUED TO BE A CORE PART OF OUR SOCIAL MISSION TO ENSURE FINANCIAL INCLUSION FOR THOSE EXCLUDED FROM MAINSTREAM FINANCE. AEC/INKOMOKO PROVIDED INVESTMENT TO REFUGEES, INCLUDING MAKING AVAILABLE GRANTS, LOANS, AND SHARIA-COMPLIANT PRODUCTS FOR MUSLIM ENTREPRENEURS, ENSURING THAT SMALL BUSINESSES DON'T HAVE TO CHOOSE BETWEEN GROWING THEIR BUSINESSES AND THEIR FAITH. WE PRIORITIZED SERVING WOMEN, YOUTH, AND THOSE EXCLUDED FROM TRADITIONAL BANKING SYSTEMS.
AS PART OF A COLLABORATIVE PARTNERSHIP WITH SOUTHERN NEW HAMPSHIRE UNIVERSITY, INKOMOKO SUPPORTED THE EDUCATION INITIATIVES OF THE SNHU GEM HUB THAT ENGAGES REFUGEE STUDENTS AROUND THE WORLD TO ACCESS QUALITY ON-LINE INSTRUCTION. AEC/INKOMOKO'S ROLE WAS TO FACILITATE OPERATIONAL SYSTEMS THAT ALLOWED FOR REFUGEES TO REVIEW STUDENT COURSE WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julienne Oyler Co-Founder & CEO | OfficerTrustee | 40 | $339,292 |
Sara Leedom Co-Founder & COO | OfficerTrustee | 40 | $329,017 |
Michael Payne Board Chair | OfficerTrustee | 2 | $0 |
Julia Taft Secretary | OfficerTrustee | 2 | $0 |
Asfaw Alemu Board Member | Trustee | 2 | $0 |
Bior Ajak Board Member | 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 | $13,618,992 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,618,992 |
| Total Program Service Revenue | $971,978 |
| Investment income | $173,327 |
| 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 | $14,764,297 |
| 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 | $7,583,288 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $668,309 |
| Compensation of current officers, directors, key employees. | $317,447 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,454 |
| Pension plan accruals and contributions | $13,122 |
| Other employee benefits | $16,098 |
| Payroll taxes | $29,776 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,313 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $215,265 |
| Advertising and promotion | $5,251 |
| Office expenses | $7,398 |
| Information technology | $118,320 |
| Royalties | $0 |
| Occupancy | $19,498 |
| Travel | $85,689 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $40,044 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,695 |
| Insurance | $0 |
| All other expenses | $6,142 |
| Total functional expenses | $8,854,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,989,151 |
| Savings and temporary cash investments | $11,157,409 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,916 |
| 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 | $222,986 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,923,146 |
| Total assets | $28,302,608 |
| Accounts payable and accrued expenses | $71,615 |
| Grants payable | $0 |
| Deferred revenue | $16,434,719 |
| 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 | $762,990 |
| Other liabilities | $0 |
| Total liabilities | $17,269,324 |
| Net assets without donor restrictions | $11,033,284 |
| 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 | $28,302,608 |