Friends Of Edtf Inc
- Assets
- $6.1m
- Revenue
- $466.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Plano, TX
- Founding
- 08/2019
- Data as of
- 12/2023
- EIN
- 83-2100439
Organization Overview
Friends Of Edtf Inc is located in Plano, TX. The organization was established in 2019. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Edtf 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 12/2023, Friends Of Edtf Inc generated $466.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (36.4%) each year. All expenses for the organization totaled $192.1k during the year ending 12/2023. 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
FRIENDS OF EDTF INC FEDTF IS ESTABLISHED TO MOBILIZE VOLUNTARY CONTRIBUTIONS FROM THE ETHIOPIAN DIASPORA AND OTHERS WHO WISH TO SUPPORT ("FEDTF") TO FUND THE ETHIOPIAN DIASPORA TRUST FUND EDTF IN ETHIOPIA THAT WILL FINANCE PEOPLE-FOCUSED SOCIAL AND ECONOMIC DEVELOPMENT PROJECTS IN VARIOUS REGIONS OF ETHIOPIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, THIS PUBLIC CHARITY CONTINUED TO FUND THE PREVIOUS FIVE PROJECTS IT DID SINCE 2020. IT HAS ALSO FUNDED THE PURCHASE AND DELIVERY OF ADDITIONAL COVID-19 RELATED PERSONAL PROTECTION EQUIPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lulite Ejigu Chairman | OfficerTrustee | 5 | $0 |
Mesfin Demise Treasurer | OfficerTrustee | 5 | $0 |
Solomon Lemma Secretary | OfficerTrustee | 5 | $0 |
Henok Tesfaye Trustee | Trustee | 1 | $0 |
Dr Lemma Senbet Trustee | Trustee | 1 | $0 |
Dr Ghenno Senbetta Trustee | Trustee | 1 | $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 | $314,010 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $314,010 |
| Total Program Service Revenue | $0 |
| Investment income | $151,977 |
| 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 | $465,987 |
| 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 | $85,462 |
| 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 | $14,480 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,109 |
| Office expenses | $3,979 |
| Information technology | $730 |
| Royalties | $0 |
| Occupancy | $7,059 |
| 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 | $865 |
| All other expenses | $0 |
| Total functional expenses | $192,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $324,556 |
| Savings and temporary cash investments | $5,758,643 |
| 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 | $6,083,199 |
| 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 | $1 |
| Total liabilities | $1 |
| Net assets without donor restrictions | $6,083,198 |
| 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 | $6,083,199 |