Overview
What is African Center For Economic Transformation?
The African Center for Economic Transformation (ACET) is an economic policy institute situated in Washington, D.C., specifically at 1776 K Street NW. Its primary mission is to support long-term growth and transformation in African countries, aiming to reduce poverty and improve livelihoods for all Africans. The ACET achieves this by providing research, policy advice, and institutional strengthening. They aim to foster sustainable development on the continent beyond the continent's recent impressive economic growth, which has been driven by macroeconomic reforms, better business environments, and high commodity prices. In essence, ACET serves as a pre-eminent African organization advancing African solutions to African transformation challenges.
Official website here: www.acetforafrica.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 75% (Three-Star out of Four Star rating)
The African Center For Economic Transformation has received a Three-Star rating from Charity Navigator, reflecting a respectable 75% score primarily based on its accountability and finance practices. This score indicates a strong commitment to transparency, with the organization earning full points in several critical areas, such as having a majority independent board and well-structured financial oversight.
Strengths highlighted in the review include strong governance policies, such as the presence of a whistleblower policy and effective audit practices. The program expense ratio is also favorable at 76.02%, suggesting that a significant portion of its budget is directed towards its core programs. However, the organization faces challenges with its financial ratios, particularly in liabilities to assets, fundraising efficiency, and working capital, which may indicate potential financial sustainability concerns.
Overall, while the African Center For Economic Transformation demonstrates robust accountability and a transparent operational structure, it may need to address its financial performance metrics to enhance its long-term viability and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is African Center For Economic Transformation legitimate?
African Center For Economic Transformation is a legitimate nonprofit organization registered as a 501(c)(3) entity. African Center For Economic Transformation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,222,391
Professional Fundraising Fees: $0
Other Salaries and Wages: $120,251
For more financial information, click here
Official website here: www.acetforafrica.org
What is the mission statement of African Center For Economic Transformation?
The African Center for Economic Transformation serves as an economic policy institute, supporting long-term growth in African countries through transformation. Their mission is to provide research, policy advice, and institutional strengthening to assist African nations in developing their economies, reducing poverty, and improving livelihoods for all Africans. The organization is recognized as the pre-eminent African entity advancing African solutions to African transformation challenges.
In essence, the African Center for Economic Transformation aims to contribute to Africa's development by focusing on economic policy, offering advisory services, and enhancing institutional capabilities. Their ultimate goal is to alleviate poverty and improve living standards for the continent's population.
The African Center for Economic Transformation plays a crucial role in supporting Africa's economic transformation by leveraging its expertise and resources to address the continent's unique challenges.
Official website here: www.acetforafrica.org
Who is the CEO of African Center For Economic Transformation?
Kinsley Y Amoako is the President/Ceo of African Center For Economic Transformation. The CEO's salary of African Center For Economic Transformation is $433,548 and their total compensation is $433,548.
Official website here: www.acetforafrica.org
What is the revenue of African Center For Economic Transformation?
African Center For Economic Transformation's revenue in 2022 was $5,485,959.
Official website here: www.acetforafrica.org
Who are the executives of African Center For Economic Transformation and what are their salaries?
Here are 16 key members and their salaries (African Center For Economic Transformation's CEO's salary is $433,548 and their total compensation is $433,548):
- Compensation: $433,548
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
- Compensation: $293,265
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- Other: $0
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- Other: $0
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- Compensation: $0
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- Other: $0
- Compensation: $293,265
- Related: $0
- Other: $0
- Compensation: $191,808
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- Other: $0
- Compensation: $168,000
- Related: $0
- Other: $0
- Compensation: $168,000
- Related: $0
- Other: $0
- Compensation: $163,100
- Related: $0
- Other: $0
Official website here: www.acetforafrica.org
Where can I find the form 990 for African Center For Economic Transformation?
African Center For Economic Transformation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.acetforafrica.org
Learn more at the official website: www.acetforafrica.org
Mission Statement of African Center For Economic Transformation
The African Center for Economic Transformation, abbreviated as ACET, serves as an economic policy institute with a mission to support Africa's long-term growth through transformation. This pre-eminent African organization advances African solutions to African transformation challenges. In line with its mission, ACET provides research, policy advice, and institutional strengthening for African countries to develop their economies, reduce poverty, and improve livelihoods for all Africans. The organization strives to contribute to Africa's sustainable development by focusing on macroeconomic reforms, enhancing business environments, and leveraging high commodity prices.
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Impact
July, 2024
The African Center for Economic Transformation is a leading economic policy institute that provides research, policy advice, and institutional strengthening for African countries to develop their economies, reduce poverty, and improve livelihoods for all Africans. Through its work, the organization aims to support Africa's long-term growth through transformation. Their impact lies in advancing African solutions to economic challenges and promoting sustainable development on the continent.
This information is meant to be a general summary of African Center For Economic Transformation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $5,485,959
Assets and Liabilities:
- Total Assets: $2,404,471
- Total Liabilities: $2,124,588
- Net Assets: $279,883
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Organization Details
Founding Year
2007
Phone
(202) 833-3439Principal Officer
Kinsley Y Amoako
Main Address
1776 K STREET NW, WASHINGTON, DC, 20006
Website
www.acetforafrica.orgNTEE Category
Code: Q30 - International
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