Ethiopia Education Initiatives Inc
- Assets
- $13.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 9
- Location
- New York, NY
- Founding
- 09/2017
- Data as of
- 06/2022
- EIN
- 81-5480515
Organization Overview
Ethiopia Education Initiatives Inc is located in New York, NY. The organization was established in 2017. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Ethiopia Education Initiatives Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ethiopia Education Initiatives Inc 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 06/2022, Ethiopia Education Initiatives Inc generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 42.6% each year . All expenses for the organization totaled $1.7m during the year ending 06/2022. 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
TO PROVIDE QUALITY EDUCATIONAL OPPORTUNITIES FOR TALENTED STUDENTS IN ETHIOPIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE QUALITY EDUCATIONAL OPPORTUNITIES FOR TALENTED STUDENTS IN ETHIOPIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karena Ostrem Head Of School | 40 | $133,333 | |
Caroline Brown Director | OfficerTrustee | 2 | $0 |
Rebecca G Haile Director | OfficerTrustee | 30 | $0 |
Jean E Manas Director | Trustee | 5 | $0 |
Anne Melvin Director | Trustee | 2 | $0 |
Reuben Brigety Director | 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 | $1,905,640 |
| Noncash contributions included in lines 1a–1f | $86,601 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,905,640 |
| Total Program Service Revenue | $15,239 |
| Investment income | $19,906 |
| 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 | $1,940,785 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $398,917 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,196 |
| Payroll taxes | $24,288 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,163 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $127,203 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,136 |
| Travel | $38,021 |
| 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 | $570,724 |
| Insurance | $13,915 |
| All other expenses | $34,065 |
| Total functional expenses | $1,709,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,114 |
| Savings and temporary cash investments | $3,873,929 |
| 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 | $26,462 |
| Net Land, buildings, and equipment | $9,034,821 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,809 |
| Total assets | $13,067,135 |
| Accounts payable and accrued expenses | $171 |
| 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 | $196,783 |
| Total liabilities | $196,954 |
| Net assets without donor restrictions | $12,870,181 |
| 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 | $13,067,135 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Ethiopia Education Initiatives Inc has recieved totaling $302,800.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $262,450 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $15,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $10,250 |
American Endowment Foundation Hudson, OH PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $5,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Executive Education Academy Charter School Allentown, PA | $63,584,076 | $23,169,797 |
Foundation Academy Charter School Trenton, NJ | $16,120,573 | $21,345,321 |
Albany Academy Albany, NY | $58,726,077 | $27,181,105 |
Elisabeth Morrow School Englewood, NJ | $43,835,854 | $20,290,882 |
Yeshiva Ktana Of Passaic Passaic, NJ | $33,764,196 | $20,538,079 |
Cambridge School Of Weston Inc Weston, MA | $57,046,494 | $20,616,161 |
Franklintown Charter High School Philadelphia, PA | $47,616,708 | $24,090,071 |
Nichols School Of Buffalo Buffalo, NY | $102,003,479 | $42,213,694 |
Yeshiva Shaare Torah Inc Brooklyn, NY | $32,363,623 | $20,724,747 |
Yeshivat Heatid Inc Teaneck, NJ | $17,160,980 | $19,921,065 |
Ideal School Of Manhattan New York, NY | $22,538,816 | $19,239,739 |
Peck School Morristown, NJ | $71,516,691 | $18,101,005 |