The Boma Project Inc
- Assets
- $10.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 14
- Location
- Manchester Center, VT
- Founding
- 01/2006
- Data as of
- 12/2022
- EIN
- 84-1671995
Organization Overview
The Boma Project Inc is located in Manchester Center, VT. The organization was established in 2006. According to its NTEE Classification (Q31) the organization is classified as: International Agricultural Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Boma Project Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boma Project 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 12/2022, Boma Project Inc generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $4.4m 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
BOMA'S MISSION IS TO PROVIDE THE PEOPLE AND GOVERNMENTS OF AFRICA'S DRYLANDS WITH ECONOMIC INCLUSION PROGRAMS THAT INCREASE RESILIENCE TO ECONOMIC AND ENVIRONMENTAL SHOCKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RURAL ENTREPRENEUR ACCESS PROJECT ("REAP") IS AN INNOVATIVE, DATA DRIVEN, HIGH-IMPACT, GENDER FOCUSED POVERTY GRADUATION PROGRAM THAT TARGETS ULTRA-POOR WOMEN AT THE EPICENTER OF EXTREME POVERTY, CLIMATE CHANGE AND THE TRUE "LAST MILE" OF ECONOMIC AND SOCIAL-ISOLATION. THROUGH A TWO-YEAR PROCESS OF SEQUENCED INTERVENTIONS - INCLUDING A CASH TRANSFER TO START A SMALL BUSINESS, FINANCIAL AND LIFE SKILLS TRAINING, MENTORING, AND A SAVINGS PROGRAM - REAP HELPS THE POOREST AND MOST VULNERABLE WOMEN ESTABLISH SAVINGS TO BUILD THEIR RESILIENCE TO SHOCKS AND LIFT THEMSELVES AND THEIR FAMILIES OUT OF EXTREME POVERTY. ON AVERAGE, 96% OF WOMEN "GRADUATE" FROM EXTREME POVERTY BASED ON BOMA'S STRICT CRITERIA, MEANING THEY HAVE FOOD FOR THEIR CHILDREN, DIVERSIFIED INCOME AND SAVINGS, AND THE ABILITY TO PAY FOR LIFE-CHANGING RESOURCES LIKE EDUCATION AND MEDICAL CARE.
TECHNICAL ADVISORY - AS A STRATEGIC PARTNER AND TECHNICAL ADVISOR TO NON- GOVERNMENTAL ORGANIZATIONS, BOMA LEVERAGES ITS EXPERTISE AND CONCLUSIVE EVIDENCE OF IMPACT TO EMBED THE GRADUATION APPROACH INTO HUMANITARIAN RESPONSE SYSTEMS IN FRAGILE STATES AND REGIONS. AS A TECHNICAL ADVISOR TO GOVERNMENTS, BOMA SUPPORTS THE ACTIVITIES AND PROCESSES THAT WILL LEAD TO THE ADOPTION OF THE GRADUATION APPROACH INTO SOCIAL PROTECTION SYSTEMS, BEGINNING WITH KENYA.
EDUCATION AND ADVOCACY - BOMA HAS A STRONG COMMITMENT TO EXPAND THE KNOWLEDGE OF POVERTY GRADUATION, LIVELIHOODS, GENDER PROGRAMMING, FINANCIAL INCLUSION, AND SAVINGS MODELS BY COLLABORATING WITH RESEARCH INSTITUTIONS AND PARTNERS THAT CAN HELP US ADVANCE GLOBAL KNOWLEDGE OF THE UNIQUE CHALLENGES IN THE ARID LANDS OF AFRICA. BOMA CONTINUES TO BRING THE ISSUES OF THE MOST VULNERABLE POPULATIONS IN FORGOTTEN AREAS INTO GLOBAL DEBATE THROUGH PUBLICATIONS AND SPEAKING ENGAGEMENTS. IN ADDITION, BOMA CONDUCTS OUTREACH WITH GOVERNMENTS AND OTHER STAKEHOLDERS IN THE POVERTY GRADUATION FIELD BY HOSTING POVERTY GRADUATION LEARNING EVENTS, FIELD VISITS, AND BRIEFINGS FOR GOVERNMENT DELEGATIONS, SUCH AS FOR KENYA, ETHIOPIA AND SUDAN, WHO ARE INTERESTED IN TESTING BOMA'S MODEL IN THEIR COUNTRIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
H Perry Boyle Jr Chair | OfficerTrustee | 2 | $0 |
Elsie Mbugua Vice Chair | OfficerTrustee | 2 | $0 |
William Ambrose Director | Trustee | 2 | $0 |
Patricia Campbell Director | Trustee | 2 | $0 |
Gregory Coussa Director | Trustee | 2 | $0 |
Frank Degiovanni Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Boldly Go Philanthropy Consulting | 9/29/22 | $133,079 |
Smart Regional Consultants Consulting | 9/29/22 | $119,662 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $339,130 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,035,625 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,374,755 |
| Total Program Service Revenue | $0 |
| Investment income | $19,962 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,014 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,399,712 |
| 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 | $3,699,403 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $118,932 |
| Compensation of current officers, directors, key employees. | $58,354 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $240,850 |
| Pension plan accruals and contributions | $17,941 |
| Other employee benefits | $16,180 |
| Payroll taxes | $15,787 |
| 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 | $116,822 |
| Advertising and promotion | $0 |
| Office expenses | $3,407 |
| Information technology | $64,296 |
| Royalties | $0 |
| Occupancy | $6,784 |
| Travel | $25,834 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,517 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,185 |
| All other expenses | $0 |
| Total functional expenses | $4,365,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,975 |
| Savings and temporary cash investments | $8,719,474 |
| Pledges and grants receivable | $843,991 |
| 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 | $44,131 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,016,701 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,648,272 |
| Accounts payable and accrued expenses | $72,926 |
| 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 | $72,926 |
| Net assets without donor restrictions | $7,624,174 |
| Net assets with donor restrictions | $2,951,172 |
| 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 | $10,648,272 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thessalonica Agricultural & Industrial Institute New York, NY | $79,768,133 | $17,701,076 |
The Boma Project Inc Manchester Center, VT | $10,648,272 | $1,399,712 |
International Service For The Acqstn Of Agri-Biotech Applcations Ithaca, NY | $385,268 | $794,763 |
Tasai Inc Ithaca, NY | $1,121,203 | $1,328,757 |
Self Help Africa Inc New York, NY | $343,081 | $970,826 |
Gardens For Health International Duxbury, MA | $2,240,190 | $2,210,466 |
Southeast Asia Development Program Inc Newton Highlands, MA | $1,431,528 | $306,170 |
The Manzanar Project Foundation Wenham, MA | $0 | $189,504 |
Mesoamerican Development Institute Corporation Upton, MA | $273,683 | $240,666 |
Pure Incubation Foundation Inc Danvers, MA | $2,177 | $110,802 |
Pemba Foundation Inc Boston, MA | $25,235 | $0 |
Chapin Living Waters Foundation Inc Watertown, NY | $235,370 | $0 |
Building Together Inc Brooklyn, NY | $87,142 | $0 |
Qholaqhoe Mountain Connections Inc Honeoye Falls, NY | $107,943 | $0 |
Abyssinian Fund Inc New York, NY | $15,641 | $0 |