Arab Fund For Economic And Social Development
- Assets
- $13.3b
- Revenue
- $432.5m
- Investments
- $234.0m
- Employees
- 0
- Location
- Founding
- 05/2002
- Data as of
- 12/2021
- EIN
- 98-0211642
Organization Overview
Arab Fund For Economic And Social Development is located in null. The organization was established in 2002. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arab Fund For Economic And Social Development is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Arab Fund For Economic And Social Development generated $432.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $32.4m during the year ending 12/2021. While expenses have increased by 1.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CONTRIBUTE TO THE FINANCING OF ECONOMIC & SOCIAL DEVELOPMENT IN THE ARAB STATES. THE ORGANIZATION PROVIDES TECHNICAL ASSISTANCE GRANTS & SUPPORTS A FELLOWSHIP PRGRM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ARAB FUND'S PRIMARY ACTIVITY IS EXTENDING LOANS FOR PURPOSES OF FINANCING ECONOMIC AND SOCIAL DEVELOPMENT IN MEMBER STATES. THE CATEGORIES OF INFRASTRUCTURE AND PRODUCTIVE PURPOSES FOR WHICH LOANS ARE EXTENDED ARE AS FOLLOWS: TRANSPORT, TELECOMMUNICATIONS, ENERGY AND ELECTRICITY, WATER AND SEWAGE, INDUSTRY AND MINING, AGRICULTURE AND RURAL DEVELOPMENT.
THE ARAB FUND PROVIDES TECHNICAL ASSISTANCE GRANTS TO MEMBER STATES AND INTERNATIONAL ORGANIZATIONS AND ENTERPRISES LOCATED IN MEMBER STATES TO ENHANCE DEVELOPMENT OBJECTIVES OF ARAB STATES AND THEIR INSTITUTIONAL SUPPORT. TECHNICAL ASSISTANCE GRANTS MADE BY THE ARAB FUND ARE PRIMARILY AWARDED FOR: FEASIBILITY STUDIES AND PROJECT PREPARATION, INSTITUTIONAL SUPPORT AND TRAINING, GENERAL STUDIES AND RESEARCH, SEMINARS AND CONFERENCES, EMERGENCY PROGRAMS.
THE ARAB FUND FELLOWSHIPS PROGRAM WAS LAUNCHED IN DECEMBER 1987. THE PURPOSE OF THE PROGRAM IS TO PROVIDE ARAB PH.D. HOLDERS WHO HAVE EXCELLENT ACADEMIC TRACK RECORD WITH OPPORTUNITIES TO CONDUCT RESEARCH AND/OR LECTURE IN THE BEST UNIVERSITIES OF THE WORLD. THE PROGRAM IS ALSO EXPECTED TO BUILD BRIDGES BETWEEN ARAB AND FOREIGN UNIVERSITIES, WHICH WILL LEAD TO MUTUAL BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bader M A Al Saad Chairman/director General | Officer | 40 | $463,225 |
Abdlrahman Al-Humemedi Director Of Administration | Officer | 35 | $312,450 |
Said M Al Shinnawi Director Finance Department | Officer | 35 | $272,909 |
Mohammad A Al-Qatami Director Of H.q. Building | Officer | 35 | $249,248 |
Khalifa Adau Financial Advisor | Officer | 35 | $248,785 |
Methqal M Ali Sartawi Chairman Consultant | 35 | $233,047 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ahli United Bank - Aub Portfolio Management | 12/30/21 | $406,824 |
Morgan Stanley Investment Bank Portfolio Management | 12/30/21 | $3,926,639 |
Tri International Consulting Consulting Services | 12/30/21 | $500,000 |
Gulf International Bank - Gib Portfolio Management | 12/30/21 | $1,942,176 |
Kuwait Swedish Company - Kuwait Wait Staff& Cleaning | 12/30/21 | $342,404 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $226,569,681 |
| Investment income | $19,646,223 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $184,766,433 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $432,470,193 |
| 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. | $3,306,791 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,562,121 |
| Pension plan accruals and contributions | $828,724 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $82,658 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,275,418 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,015,043 |
| Information technology | $112,416 |
| Royalties | $0 |
| Occupancy | $99,190 |
| Travel | $1,636,634 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,757 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $36,370 |
| All other expenses | $13,225 |
| Total functional expenses | $32,390,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,138,370 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $20,830 |
| 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 | $1,736,634,155 |
| Investments—other securities | $233,992,395 |
| Investments—program-related | $11,022,714,499 |
| Intangible assets | $0 |
| Other assets | $275,707,389 |
| Total assets | $13,316,207,638 |
| 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 | $234,812,366 |
| Total liabilities | $234,812,366 |
| Net assets without donor restrictions | $0 |
| 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 | $9,591,985,452 |
| Retained earnings, endowment, accumulated income, or other funds | $3,489,409,820 |
| Total liabilities and net assets/fund balances | $13,316,207,638 |
Grants Awarded
Over the last fiscal year, Arab Fund For Economic And Social Development has awarded $1,161,488 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN UNIVERSITY OF BEIRUT PURPOSE: DISASTER RESPONSE FUND | $1,062,543 |
Washington, DC PURPOSE: SCHOLARSHIP PROGRAM | $98,945 |
Endowment Analysis
| Beg. Balance | $36,993,942 |
| Earnings | $91,746 |
| Net Contributions | $18,805,066 |
| Grants | -$900,921 |
| Ending Balance | $56,791,675 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arab Fund For Economic And Social Development | $13,316,207,638 | $432,470,193 |
Gates Cambridge Tr | $376,791,000 | $13,716,000 |
Kishorit | $24,788,986 | $10,952,042 |
Great Pacific Foundation | $28,274,413 | $7,698,415 |
International Union Of Crystallography | $6,060,872 | $3,818,147 |
Rights Practice Us Inc | $201,590 | $324,213 |