Overview
What is Albanian-American Enterprise Fund?
The Albanian-American Enterprise Fund is a nonprofit organization, headquartered in New York City, dedicated to fostering the private sector development in Albania. Established with a grant from the U.S. Agency for International Development (USAID), the fund aims to catalyze additional private investment in the country by investing in various enterprises, disseminating Western business knowledge, and, when necessary, proposing changes to policies affecting business. Its mission is to promote a market economy in Albania, serving as a beacon for potential investors by demonstrating the viability and profitability of investing in the region. The fund's activities encompass providing loans, grants, equity investments, feasibility studies, technical assistance, training, insurance, and other services to aid in the growth of Albania's private sector. With a team of just one employee, the Albanian-American Enterprise Fund remains committed to its mission of facilitating Albania's transition to a thriving market economy.
Official website here: www.aaef.com
What are the reviews and ratings of this charity?
Charity Navigator rating: 89%, Three-Star out of Four Star rating.
The Albanian-American Enterprise Fund has demonstrated a strong commitment to accountability and financial integrity, achieving an impressive overall score of 89%. The organization boasts a fully independent board and has successfully implemented comprehensive financial oversight measures, including an audit and oversight committee that scored full marks. Such governance practices reflect a well-structured organization focused on transparency and responsible management of resources.
Strengths highlighted in the feedback include a perfect program expense ratio, indicating that all of its expenses are dedicated to program-related activities, as well as the absence of any material diversion of assets. Furthermore, their adherence to policies related to conflicts of interest and whistleblower protections further underscores their dedication to ethical standards and governance.
While the organization scores highly in various metrics, specific challenges or limitations were not reported in the available data. Overall, the Albanian-American Enterprise Fund appears to be a well-managed nonprofit that prioritizes its mission and maintains a high level of accountability to its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Albanian-American Enterprise Fund legitimate?
Albanian-American Enterprise Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Albanian-American Enterprise Fund 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: $16,916
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,260
For more financial information, click here
Official website here: www.aaef.com
What is the mission statement of Albanian-American Enterprise Fund?
The Albanian-American Enterprise Fund, often referred to as the Fund, is a nonprofit organization established with the objective of aiding Albania's transition to a market economy. To achieve this, the Fund invests in various private enterprises, shares Western business knowledge, and suggests necessary changes to policies affecting businesses, when necessary. The Fund's primary goal is to demonstrate that investing in Albania can be profitable and successful, serving as a catalyst for additional private investment in the country. Established under the Support for East European Democracy Act of 1989, the Fund is funded by a grant agreement with the United States Agency for International Development (USAID). Its mission is focused on promoting private sector development in Albania and fostering policies and practices conducive to such growth.
Official website here: www.aaef.com
Who is the CEO of Albanian-American Enterprise Fund?
Martin Mata is the Chairman of Albanian-American Enterprise Fund. The CEO's salary of Albanian-American Enterprise Fund is $7,562 and their total compensation is $169,160.
Official website here: www.aaef.com
What is the revenue of Albanian-American Enterprise Fund?
Albanian-American Enterprise Fund's revenue in 2022 was $6,638,985.
Official website here: www.aaef.com
Who are the executives of Albanian-American Enterprise Fund and what are their salaries?
The average compensation at Albanian-American Enterprise Fund during 2022 was $21,176. There is 1 employee at Albanian-American Enterprise Fund.
Here are 5 key members and their salaries (Albanian-American Enterprise Fund's CEO's salary is $7,562 and their total compensation is $169,160):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $7,562
- Related: $143,678
- Other: $17,920
- Compensation: $7,562
- Related: $143,678
- Other: $17,920
- Compensation: $0
- Related: $131,278
- Other: $10,212
Official website here: www.aaef.com
Where can I find the form 990 for Albanian-American Enterprise Fund?
Albanian-American Enterprise Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aaef.com
Learn more at the official website: www.aaef.com
Mission Statement of Albanian-American Enterprise Fund
The Albanian-American Enterprise Fund, abbreviated as AAEF, is a private investment fund with a mission to aid Albania in its transition towards a market economy. Established as a nonstock, nonprofit corporation, the Fund's primary objective is to foster the development of the private sector in Albania. To achieve this, AAEF invests in various private enterprises, disseminates Western business knowledge, and when necessary, proposes changes to government policies that impact businesses. The Fund's ultimate goal is to serve as a catalyst, attracting additional private investment to Albania, demonstrating that investment in the country can be both successful and profitable. The Albanian-American Enterprise Fund is capitalized by a grant agreement with the United States Agency for International Development (USAID).
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Impact
October, 2024
The Albanian-American Enterprise Fund has made significant contributions to the development of the private sector in Albania. By offering a range of financial instruments, including loans, grants, equity investments, and technical assistance, it has enabled numerous enterprises to thrive and innovate in a transitioning economy.
Through comprehensive feasibility studies and training programs, the Fund has disseminated Western business practices, equipping local entrepreneurs with the knowledge and skills necessary for success. Its investment strategy not only focuses on existing businesses but also aims to stimulate new ventures, positioning Albania as an attractive destination for further private investment.
Additionally, the Fund has actively engaged in advocacy for policy changes that foster a more conducive environment for business operations, demonstrating its commitment to creating sustainable economic growth. By showcasing successful investment outcomes, it serves as a catalyst, encouraging other investors to recognize Albania's potential. The overall impact is a strengthened private sector, leading to job creation, economic development, and improved living standards for the local population.
This information is meant to be a general summary of Albanian-American Enterprise Fund. 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: $1,740,737
- Program Service Revenue: $4,898,248
- Gross Receipts: $6,638,985
Assets and Liabilities:
- Total Assets: $82,761,194
- Total Liabilities: $609,565
- Net Assets: $82,151,629
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EQUITY INVESTMENTS
Revenue
$5,108,708
INCOME FROM SERVICES TO ALEAT
Revenue
$632,905
FOREIGN CURRENCY EFFECT
Revenue
-$843,365
Organization Details
Founding Year
1995
Phone
(347) 446-8138Principal Officer
Martin Mata
Main Address
CO F QELLO 780 THIRD AV 46TH FL, NEW YORK, NY, 10017
Website
www.aaef.comNTEE Category
Code: Q320 - International
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