Adelante Foundation
- Assets
- $2.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 1
- Location
- Woodside, CA
- Founding
- 01/2002
- Data as of
- 12/2022
- EIN
- 94-3329340
Organization Overview
Adelante Foundation is located in Woodside, CA. The organization was established in 2002. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adelante 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 12/2022, Adelante Foundation generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $1.0m 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
THE ADELANTE FOUNDATION, INC. IS A MICROFINANCE INSTITUTION OPERATING IN HONDURAS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADELANTE SERVES 4,000 POOR WOMEN IN RURAL HONDURAS. THE LOAN PORTFOLIO TOTALED $1,619,170 IN 2019. THESE LOANS FINANCE SMALL BUSINESSES TO IMPROVE THE WOMEN'S - AND BY EXTENSION HONDURAS'S - ECONOMY AND QUALITY OF LIFE. THE FOUNDATION HAS FIVE OFFICES IN THE COUNTRY, THREE OF WHICH ARE ALONG OR NEAR THE NORTH COAST IN THE DEPARTMENT OF ATLANTIDA, ONE IN THE DEPARTMENT OF INTIBUCA AND ONE IN THE DEPARTMENT OF CHOLUTECA. THE ORGANIZATION ALSO PROVIDES ONGOING TRAININGS ON VARIOUS BUSINESS TOPICS TO THE LOAN RECIPIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Stone Director/founder | Trustee | 2 | $0 |
Maria Hubing Director | Trustee | 2 | $0 |
Lindsey Doolittle Director/board President | OfficerTrustee | 5 | $0 |
Rich Musat Director | Trustee | 2 | $0 |
John Kendall Director | Trustee | 2 | $0 |
Rich Lang Treasurer | OfficerTrustee | 5 | $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 | $141,559 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $141,559 |
| Total Program Service Revenue | $918,826 |
| Investment income | $7 |
| 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 | $1,060,392 |
| 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 | $405,855 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $67,523 |
| Payroll taxes | $49,658 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,584 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,135 |
| Office expenses | $71,291 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,306 |
| Travel | $15,327 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $919 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,608 |
| Insurance | $0 |
| All other expenses | $68,598 |
| Total functional expenses | $1,011,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $381,462 |
| Savings and temporary cash investments | $300,779 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,567,043 |
| 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 | $45,060 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,294,344 |
| Accounts payable and accrued expenses | $62,850 |
| 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 | $427,097 |
| Total liabilities | $489,947 |
| Net assets without donor restrictions | $1,804,397 |
| 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 | $2,294,344 |