Tunisian-American Enterprise Fund
- Assets
- $88.0m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 1
- Location
- Washington, DC
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 46-2894529
Organization Overview
Tunisian-American Enterprise Fund is located in Washington, DC. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tunisian-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 12/2022, Tunisian-American Enterprise Fund generated $2.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $3.4m during the year ending 12/2022. 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
SUPPORT TUNISIAN ECONOMY BY INVESTING IN SMALL AND MEDIUM SIZED ENTERPRISES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, TAEF CONTINUED TO WORK TO WORK WITH PERSISTENCE, DETERMINATION, AND CREATIVITY TO SUPPORT OUR INVESTEE COMPANIES AND TO SOURCE NEW OPPORTUNITIES FOR THE FUND. BY THE END OF 2022, TAEF HAD COMMITTED NEARLY ALL ITS INITIAL FUNDING AND INVESTED OVER $88 MILLION, LEVERAGING TND 121 M IN EXTERNAL FUNDING. IN THE PROCESS, OVER 7,000 JOBS WERE MAINTAINED AND / OR CREATED, EMPLOYING OVER 57% WOMEN AND 51% YOUTH AND OVER 413,000 MICROENTREPRENEURS RECEIVED FINANCING TO SUPPORT THEIR BUSINESSES. TAEF HAS ACTIVELY EXPANDED ITS INVESTMENT FOCUS THROUGHOUT THE COUNTRY TO PROMOTE GROWTH AND ECONOMIC OPPORTUNITIES IN THE INTERIOR AND HIGHLY DEMANDING REGIONS.FOR A DETAILED REPORT, OUR 2022 ANNUAL REPORT IS POSTED ON OUR WEBSITE: TAEFUND.ORG.GROWING SMES: TASME, OUR SME INVESTMENT SUBSIDIARY THAT IS FULLY FUNDED AT $50 MILLION. AT THE END OF 2022 TASME'S PORTFOLIO CONSISTED OF 21 COMPANIES, DISBURSED INVESTMENT OF $ 29.8 M. TAEF HAS INVESTED IN 3 INVESTMENT FUNDS FINANCING A TOTAL OF 13 [A. JORDAN] PART 3, LINE 4A, CARRY-OVER IN SCHEDULE O, UPDATED.COMPANIES.- TUNINVEST CROISSANCE, A PRIVATE EQUITY FUND INVESTING IN MID-LARGERSMES (TAEF AT 15.5%). THIS FUND IS FULLY INVESTED AND IS IN THEMONITORING, GROWTH, AND EXIT STAGE. TAEF INVESTMENT: $2.13 M EQUITY.- INMA HOLDING, A PRIVATE EQUITY INVESTMENT FUND TARGETING MID-LARGESMES, (TAEF AT 30%). TAEF HAS COMMITTED $6.038 M EQUITY AND DISBURSED $3.25 M AT THE END OF 2022.- INMA FINANCE (TAEF AT 79.65%), TAEF IS A CO-FOUNDER OF THIS NEWLYCREATED PRIVATE DEBT VEHICLE. AT THE END OF 2022 IT WAS INVESTED IN 2 COMPANIES. TAEF HAS INVESTED $10 M EQUITY. MICROENTREPRENEURS: TAEF MAINTAINED ITS EQUITY INVESTMENT IN ONE MFI IN 2022, CFE. CFE ENDED 2022 WITH A STRONG PERFORMANCE, AND PLANS FOR A CAPITAL INCREASE TO FUND EXPANSION IN 2023. DIGITAL ENTREPRENEURS: TAEF CONTINUED ITS SUPPORT OF FLAT6LABS AND ANAVA SEED FUND'S INVESTMENT IN DIGITAL START-UP COMPANIES. AT THE END OF 2022, 41% OFTHE STARTUPS HAD RAISED ADDITIONAL FOLLOW-ON FUNDING, THUS LEVERAGING ANAVA SEED FUND'S INVESTMENT OF TND 17.6M BY TND 43 M.- FLAT6LABS HAS BEEN ACTIVELY INVOLVED IN PROVIDING SUPPORT, MENTORS,AND TECHNICAL ASSISTANCE TO ALL OF ITS STARTUPS.- ANAVA SEED FUND, THE AFFILIATED INVESTMENT FUND, DISBURSED ITS FIRSTPRE-SERIES A INVESTMENT IN A COMPANY THAT OFFERS INNOVATIVE TRAININGPROGRAMS FOR CODING, TECHNOLOGY, AND DIGITAL JOBS.AT THE END OF 2022 FLAT6LABS & ANAVA SEED FUND HAD ACCELERATED ANDPROVIDED SEED FUNDING TO 75 STARTUPS IN 10 CYCLES. ONE COMPANY RECEIVEDA PRE-SERIES A INVESTMENT.TAEF INVESTMENT IN FLAT6LABS & ANAVA SEED FUND: COMMITTED $4.2 M;DISBURSED $3.68 M. WOMEN EMPLOYED IN THE STARTUPS: 54%. YOUTH EMPLOYEDIN THE STARTUPS: 65%ENTREPRENEUR SEARCHERS (TUNISIAN AMERICAN SEARCH FUND - TASF 2 & 3): IN2022, TAEF'S SEARCHERS IN TASF 2 & 3 BOTH ENDED THEIR SEARCHES.TASF 1 COMPLETED ACQUISITION OF ONE COMPANY, WITH AN INVESTMENT OF $ 6.05 M EQUITY. MORE DETAIL INCLUDING TAEF'S INVESTMENT MAP AND ANNUAL REPORT ARE AVAILABLE ON OUR WEBSITE: TAEFUND.ORG.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W Bowman Cutter Chair Of Board | OfficerTrustee | 15 | $0 |
Mohamed Malouche Treasurer | OfficerTrustee | 2 | $0 |
Ferid Abbas Board Member | Trustee | 1 | $0 |
Ahmed Benghazi Board Member | Trustee | 1 | $0 |
Gilbert Crawford Board Member | Trustee | 1 | $0 |
Donia Ellouze Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,067,702 |
| 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 | $2,067,702 |
| Total Program Service Revenue | $29,962 |
| Investment income | $502,059 |
| 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 | $2,599,723 |
| 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 | $292,705 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $861,130 |
| Compensation of current officers, directors, key employees. | $404,113 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $616 |
| Payroll taxes | $13,507 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,251 |
| Fees for services: Accounting | $119,433 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $91,557 |
| Fees for services: Other | $230,543 |
| Advertising and promotion | $7,577 |
| Office expenses | $10,650 |
| Information technology | $38,314 |
| Royalties | $0 |
| Occupancy | $16,800 |
| Travel | $48,811 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,378 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $494 |
| Insurance | $30,578 |
| All other expenses | $0 |
| Total functional expenses | $3,381,927 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,888 |
| Savings and temporary cash investments | $310,250 |
| 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 | $1,820 |
| Investments—publicly traded securities | $14,761,345 |
| Investments—other securities | $0 |
| Investments—program-related | $50,456,775 |
| Intangible assets | $0 |
| Other assets | $22,377,227 |
| Total assets | $87,978,305 |
| Accounts payable and accrued expenses | $129,817 |
| Grants payable | $0 |
| Deferred revenue | $349,456 |
| 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 | $2,790,644 |
| Total liabilities | $3,269,917 |
| Net assets without donor restrictions | $84,708,388 |
| 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 | $87,978,305 |