The Fregenet Foundation is located in Los Angeles, CA. The organization was established in 2008. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fregenet Foundation 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 06/2023, Fregenet Foundation generated $35.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $41.2k during the year ending 06/2023. 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
THE FREGENET FOUNDATION IS DEDICATED TO CREATING EDUCATIONAL OPPORTUNITIES FOR UNDERSERVED CHILDREN IN ETHIOPIA. THE FOUNDATION PROVIDES HIGH-QUALITY EARLY EDUCATION TO OVERCOME POVERTY AND GENDER INEQUALITY FOR CHILDREN FROM LOW-INCOME FAMILIES. THE FREGENET FOUNDATION SET OUT TO PROVIDE THIS BY BUILDING SCHOOLS THAT HAVE LOWER TEACHER/STUDENT RATIO (2 TO 30) AND PROVIDE EVERYTHING FOR FREE (MEALS, UNIFORM, BOOKS, EDUCATION, TRANSPORTATION), INCLUDING A FREE PRE-KINDERGARTEN AND KINDERGARTEN PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FREGENET FOUNDATION IS A NON-PROFIT CORPORATION THAT PROVIDES EARLY CHILDHOOD EDUCATION TO CHILDREN FROM LOW-INCOME FAMILIES IN ETHIOPIA. THE FIRST FREGENET SCHOOL (FREGENET KIDANLEHITSANAT) OPENED ITS DOORS IN ADDIS ABABA, ETHIOPIA, IN THE FALL OF 2004 AND ENROLLED 31 CHILDREN AGES 4 TO 6 FROM A SMALL AND IMPOVERISHED COMMUNITY IN ADDIS ABABA. THE VISION FOR THE SCHOOL WAS INSPIRED BY FREGENET TAFESSE WOUBSHET, AN ETHIOPIAN-AMERICAN WHO DIED IN 2003 BEFORE SHE COULD REALIZE HER DREAM OF RETURNING TO ETHIOPIA TO HELP CHILDREN. THANKS TO GENEROUS BENEFACTORS, IN THE SCHOOL'S 19 YEARS OF OPERATION, THE NUMBER OF STUDENTS SERVED HAS GROWN TO OVER 500. ABOUT THE SCHOOL: MANY STUDENTS ARE FROM SINGLE-PARENT HOUSEHOLDS, WHILE OTHERS ARE FROM FAMILIES OF UNEMPLOYED PARENTS OR PRECARIOUSLY EMPLOYED FAMILIES. STUDENTS ARE SELECTED IN A FAIR MANNER AND IN ACCORDANCE WITH THE NONDISCRIMINATION POLICY OF THE FOUNDATION AND THE SCHOOL. SOME OF THE STUDENTS, IF NOT ALL, MAY NOT HAVE HAD THE OPPORTUNITY TO GO TO SCHOOL HAD IT NOT BEEN FOR THE FOUNDATION. THE SCHOOL CURRENTLY SUPPORTS 80 STUDENTS. THERE ARE THREE CLASSES FOR THE KINDERGARTEN, OR "KG." KG 1: THESE ARE THE YOUNGEST CHILDREN, AGES 3 TO 4, IN THEIR FIRST MONTHS AT A TEACHING ESTABLISHMENT. KG 2: THESE STUDENTS HAVE COMPLETED ONE YEAR OF KG AND CAN IDENTIFY LETTERS AND NUMBERS AND THINK IN LOGICAL PATTERNS. KG 3: STUDENTS IN KG 3 ARE 5 TO 6 YEARS OLD AND ARE DEVELOPING READING AND WRITING SKILLS IN AMHARIC (THE NATIONAL LANGUAGE OF ETHIOPIA) AND ENGLISH. LESSONS ARE GIVEN IN ACCORDANCE WITH THE CURRICULUM REQUIRED BY THE FEDERAL MINISTRY OF EDUCATION. THE TEXTBOOKS USED ARE ALSO THOSE PREPARED AND APPROVED BY THE RELEVANT EDUCATIONAL AUTHORITIES OF THE COUNTRY. ALL STUDENTS RECEIVE EDUCATION AT NO CHARGE. SCHOOL UNIFORMS AND SCHOOL SUPPLIES ARE ALSO DISTRIBUTED TO EACH STUDENT AT NO COST TO THEIR FAMILIES. IN ADDITION, THE NEWLY INAUGURATED FREGENET DEMBI ELEMENTARY SCHOOL IN BISHOFTU HAS WELCOMED THE FIRST BATCH OF STUDENTS, THEREBY CONTINUING THE FOUNDATION'S COMMITMENT TO AND INVESTMENT IN THE EDUCATION OF ETHIOPIA'S CHILDREN.
ONE OF THE MISSIONS OF THE FREGENET FOUNDATION IS TO BUILD SCHOOLS THAT HAVE A LOWER TEACHER/STUDENT RATIO (2 TO 30) AND PROVIDE FREE EDUCATION, INCLUDING KINDERGARTEN AND KINDERGARTEN PROGRAMS. PROJECT #1: THE BISHOFTU ELEMENTARY SCHOOL CONSTRUCTION PROJECT WAS TO BUILD A MODEL SCHOOL, FREGENET DEMBI ELEMENTARY SCHOOL, ON A 12,000 M2 PLOT OF LAND. THIS MODEL SCHOOL WILL HOUSE SEVEN CLASSROOMS, EACH WITH A CAPACITY TO ACCOMMODATE 30 STUDENTS FROM PRESCHOOL, KINDERGARTEN 1, 2 & 3, GRADE 1 TO GRADE 4, A LIBRARY, A COMPUTER LAB, A CAFETERIA, AND A CLINIC, AND IT WILL SERVE THE EDUCATIONAL AND SOCIAL NEEDS OF THE CHILDREN. THE CONSTRUCTION OF THE MODEL SCHOOL IS 100% COMPLETED. THE FREGENET DEMBI ELEMENTARY SCHOOL IN BISHOFTU WELCOMED THE FIRST BATCH OF STUDENTS IN SEPTEMBER 2022, THEREBY CONTINUING THE FOUNDATION'S COMMITMENT TO AND INVESTMENT IN THE EDUCATION OF ETHIOPIA'S CHILDREN.PROJECT #2 THE FREGENET FOUNDATION UNDERTOOK A SECOND PROJECT, ADDIS ABEBA ELEMENTARY SCHOOL CONSTRUCTION, TO BUILD A SECOND MODEL SCHOOL TO EXPAND ACCESS TO EDUCATION TO MANY CHILDREN FROM UNDERPRIVILEGED COMMUNITIES IN THE ETHIOPIAN CAPITAL, ADDIS ABABA. THE ADDIS ABEBA PROJECT IS TO BUILD A MODEL ELEMENTARY SCHOOL, FREGENET ELEMENTARY SCHOOL, ON A PLOT OF LAND ACQUIRED FOR FREE BY THE ADDIS ABEBA CITY ADMINISTRATION OF ETHIOPIA. THIS MODEL SCHOOL WILL HOUSE SEVEN CLASSROOMS, EACH WITH A CAPACITY TO ACCOMMODATE 30 STUDENTS FROM PRESCHOOL, KINDERGARTEN 1, 2 & 3, GRADE 1 TO GRADE 4, A LIBRARY, A COMPUTER LAB, A CAFETERIA, AND A CLINIC THAT WILL SERVE THE EDUCATIONAL AND SOCIAL NEEDS OF THE CHILDREN. THE CONSTRUCTION OF PERMANENT FENCE IS COMPLETED IN JANUARY 2023.
NONE
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Elizabeth Asrat Board Of Director, Financial Officer | OfficerTrustee | 5 | $0 |
Yonas Assefa Director And Fundraising Committee | Trustee | 5 | $0 |
Abdi Sherif Dr Director & Fundraising Committee | Trustee | 5 | $0 |
Shimelis B Gulema Director Visibility And Pr Committee | Trustee | 5 | $0 |
Tafesse Woubseht Board Director, President | Trustee | 5 | $0 |
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 | $35,687 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $35,687 |
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 | $35,687 |
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 | $40,000 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
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 | $0 |
Office expenses | $68 |
Information technology | $670 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
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 | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $41,188 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $43,302 |
Savings and temporary cash investments | $40,253 |
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 | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $83,555 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $83,555 |
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 | $83,555 |