Ecdc Enterprise Development Group
- Assets
- $23.3m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Arlington, VA
- Founding
- 05/2001
- Data as of
- 09/2023
- EIN
- 54-1993252
Organization Overview
Ecdc Enterprise Development Group is located in Arlington, VA. The organization was established in 2001. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ecdc Enterprise Development Group 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 09/2023, Ecdc Enterprise Development Group generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $1.9m during the year ending 09/2023. While expenses have increased by 5.0% per year over the past 4 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
TO PROMOTE COMMUNITY AND EONOMIC DEVELOPMENT BY SERVING AS A MICROLOAN INTERMEDIARY PROVIDING TECHNICAL ASSISTANCE, AND MICRO FINANCING TO SMALL BUSINESSES OPERATED BY LOW TO MODERATE INCOME ENTREPRENEURS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MICRO ENTERPRISE DEVELOPMENT PROGRAM PROVIDES MICRO LOANS AND TECHNICAL ASSISTANCE TO SMALL BUSINESS ENTREPRENEURS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tsehaye Teferra PHD President | OfficerTrustee | 24 | $75,583 |
Allene F Wright Vice President | Officer | 4 | $0 |
Frederick Schultz Jr Director Trustee | Trustee | 1 | $0 |
Zed Wendimu Director Trustee | Trustee | 1 | $0 |
Gebreselassie Gebremariam Director Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,120,147 |
| All other contributions, gifts, grants, and similar amounts not included above | $120,923 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,241,070 |
| Total Program Service Revenue | $810,235 |
| Investment income | $48,507 |
| 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 | $3,099,812 |
| 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. | $75,583 |
| Compensation of current officers, directors, key employees. | $6,722 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $786,077 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $244,125 |
| Payroll taxes | $66,934 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,538 |
| Office expenses | $17,597 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,217 |
| Travel | $7,645 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,809 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,405 |
| Insurance | $0 |
| All other expenses | $22,696 |
| Total functional expenses | $1,878,882 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,646,989 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $268,936 |
| Accounts receivable, net | $881,114 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,879,790 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,000 |
| Net Land, buildings, and equipment | $2,693 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,635,208 |
| Total assets | $23,316,730 |
| Accounts payable and accrued expenses | $427,207 |
| Grants payable | $0 |
| Deferred revenue | $2,558,595 |
| 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 | $6,482,615 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,468,417 |
| Net assets without donor restrictions | $0 |
| 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 | $13,848,313 |
| Total liabilities and net assets/fund balances | $23,316,730 |