Egyptian-American Enterprise Fund
- Assets
- $169.8m
- Revenue
- $41.2m
- Investments
- $0.0
- Employees
- 4
- Location
- New York, NY
- Founding
- 05/2019
- Data as of
- 12/2017
- EIN
- 46-2236659
Organization Overview
Egyptian-American Enterprise Fund is located in New York, NY. The organization was established in 2019. According to its NTEE Classification (Q22) the organization is classified as: International Academic Exchange, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2017, Egyptian-American Enterprise Fund employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Egyptian-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 12/2017, Egyptian-American Enterprise Fund generated $41.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (27.2%) each year. All expenses for the organization totaled $8.2m during the year ending 12/2017. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE ECONOMIC GROWTH & EMPLOYMENT IN EGYPT THROUGH INVESTMENT IN MEDIUM-SIZED ENTERPRISES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2017 ACCOMPLISHMENTS INCLUDE THE FOLLOWING: THE FUND INVESTED IN AN EGYPTIAN OPTOMETRY COMPANY AND COMMITTED TO 2 MORE VENTURE CAPITAL AND PRIVATE EQUITY FUNDS. THE FUND ACHIEVED AN IRR OF 16% PER ANNUM SINCE THE FUND'S INCEPTION IN 2013. WE ARE NEGOTIATING EXITS FROM SOME OF OUR INVESTMENTS AFTER CREATING VALUE AND JOBS FOR EGYPTIAN CITIZENS WHILE PROVIDING SUBSTANTIAL RETURNS FOR THE AMERICAN GOVERNMENT. WE CONTINUE TO DEPLOY CAPITAL TO TALENTED ENTREPRENEURS AND HOPE TO REPEAT THE SUCCESS THAT WE HAVE ALREADY HAD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James A Harmon Chairman | OfficerTrustee | 10 | $0 |
Hythem T El-Nazer Vice Chairman | OfficerTrustee | 5 | $0 |
Terek Abdel-Meguid Director | Trustee | 5 | $0 |
Haydee Celaya Director | Trustee | 5 | $0 |
Dr Hani Sarie El-Din Director | Trustee | 5 | $0 |
Nadim El Gabbani Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gaston Capital Management Investment Consulting Services | 12/30/15 | $558,031 |
Lorax Capital Partners Management Services | 12/30/15 | $375,000 |
Paul Hastings Llp Legal & Professional Services | 12/30/15 | $249,049 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $41,150,119 |
| 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 | $41,150,119 |
| 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 | $41,150,119 |
| 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. | $369,015 |
| Compensation of current officers, directors, key employees. | $73,803 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $83,548 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,596 |
| Payroll taxes | $22,042 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $67,057 |
| Fees for services: Accounting | $133,886 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,195,184 |
| Fees for services: Other | $52,806 |
| Advertising and promotion | $41,907 |
| Office expenses | $21,187 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $84,000 |
| Travel | $77,220 |
| 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 | $1,062 |
| Insurance | $2,504 |
| All other expenses | $0 |
| Total functional expenses | $8,154,014 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,722,362 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $71,544 |
| 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 | $954 |
| Net Land, buildings, and equipment | $2,479 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $168,048,364 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $169,845,703 |
| Accounts payable and accrued expenses | $133,649 |
| 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 | $7,621,917 |
| Total liabilities | $7,755,566 |
| Unrestricted restricted net Assets | $162,090,137 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $162,090,137 |