Overview
What is Small Enterprise Assistance Funds?
Small Enterprise Assistance Funds (SEAF), headquartered in Washington D.C., serves as a fund manager dedicated to fostering the growth of small and medium-sized enterprises (SMEs) in developing countries. Their primary mission is to enhance lives and communities by promoting entrepreneur-led development. SEAF signed an agreement with the USDA in 2011, receiving funds to support their activities in Bangladesh. They monetized their investments, including red wheat, and made their first debt investment into a portfolio company in 2013, amounting to $1,987,635. Throughout the following years, SEAF continued making additional debt and equity investments in Bangladesh. In 2019, their Food for Progress Bangladesh sold its investments and assets to Ventures Management, marking a significant milestone in their journey. With a team of 16 dedicated individuals, SEAF continues to contribute to the development and growth of SMEs worldwide.
Official website here: www.seafweb.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Star rating)
Small Enterprise Assistance Funds has received a solid rating of 85%, indicating a good level of accountability and financial health. The organization excels in governance, with a strong independent board composition and comprehensive policies in place, including conflict of interest and whistleblower protections. Their financial statements are audited, which enhances transparency.
The organization demonstrates a robust program expense ratio of nearly 69%, reflecting its commitment to programmatic activities. It also scores well for having no material diversion of assets, showcasing responsible management of resources. These strengths contribute to the organization's credibility and effectiveness in fulfilling its mission.
However, the liabilities to assets ratio is relatively high at 62.78%, which may raise some concerns about financial sustainability in the long term. While the organization maintains strong operational practices and transparency, potential donors may want to consider this aspect when evaluating their risk in supporting the nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Small Enterprise Assistance Funds legitimate?
Small Enterprise Assistance Funds is a legitimate nonprofit organization registered as a 501(c)(3) entity. Small Enterprise Assistance Funds 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,733,010
For more financial information, click here
Official website here: www.seafweb.org
What is the mission statement of Small Enterprise Assistance Funds?
Small Enterprise Assistance Funds, often referred to as SEAF, primarily functions as a fund manager to foster the growth and development of small and medium-sized enterprises in developing countries. Their mission, in simpler terms, is geared towards improving lives and communities through entrepreneur-led development. By investing in and supporting these businesses, SEAF aims to contribute to sustainable economic growth and improve the livelihoods of people in these regions. The organization's activities often include providing financial assistance in the form of debt and equity investments to these enterprises, thereby helping them to grow and create jobs.
Official website here: www.seafweb.org
Who is the CEO of Small Enterprise Assistance Funds?
Robert Vodicka is the Principal Officer of Small Enterprise Assistance Funds. The CEO's salary of Small Enterprise Assistance Funds is $0 and their total compensation is $0.
Official website here: www.seafweb.org
What is the revenue of Small Enterprise Assistance Funds?
Small Enterprise Assistance Funds's revenue in 2022 was $9,245,371.
Official website here: www.seafweb.org
Who are the executives of Small Enterprise Assistance Funds and what are their salaries?
The average compensation at Small Enterprise Assistance Funds during 2022 was $233,313. There are 16 employees at Small Enterprise Assistance Funds.
Here are 10 key members and their salaries (Small Enterprise Assistance Funds's CEO's salary is $0 and their total compensation is $0):
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Official website here: www.seafweb.org
Where can I find the form 990 for Small Enterprise Assistance Funds?
Small Enterprise Assistance Funds's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.seafweb.org
Learn more at the official website: www.seafweb.org
Mission Statement of Small Enterprise Assistance Funds
Small Enterprise Assistance Funds, often referred to as SEAF, is primarily engaged as a fund manager with a mission to promote and develop small and medium-sized enterprises in developing countries. This nonprofit organization operates with the aim of improving lives and communities through entrepreneur-led development. By investing in and supporting these businesses, SEAF contributes to economic growth and job creation in the regions they operate in. In the context of their activities, SEAF serves as a catalyst for local businesses, providing them with the necessary capital and resources to grow and thrive. By fostering entrepreneurship and business development, SEAF plays a significant role in promoting sustainable economic progress in developing countries.
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Impact
August, 2024
Small Enterprise Assistance Funds has made a significant impact in promoting and developing small and medium-sized businesses in developing countries. Through its fund management activities, SEAF has provided crucial support to entrepreneurs, leading to the improvement of lives and communities through entrepreneur-led development. One notable example of its impact is the agreement signed with USDA for the Food for Progress grant in Bangladesh, which enabled SEAF to make debt and equity investments in portfolio companies, fostering economic growth and sustainability. By facilitating investments and creating opportunities for local businesses, SEAF has contributed to the long-term development and prosperity of communities in need.
This information is meant to be a general summary of Small Enterprise Assistance Funds. 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.
- Investment Income: $825,728
- Program Service Revenue: $4,116,195
- Gross Receipts: $9,268,225
Assets and Liabilities:
- Total Assets: $32,275,711
- Total Liabilities: $27,314,572
- Net Assets: $4,961,139
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT & ADMIN FEE
Revenue
$3,792,093
PROGRAM INCOME
Revenue
$324,102
Organization Details
Founding Year
1989
Phone
(202) 737-8463Principal Officer
Robert Vodicka
Main Address
1500 K STREET NW 375, WASHINGTON, DC, 20005
Website
www.seafweb.orgNTEE Category
Code: S122 - Community improvement
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