Overview
What is African Diaspora Network?
African Diaspora Network, based in Santa Clara, California, is a nonprofit organization with a mission to foster economic and social development across Africa and the communities it serves. Their primary focus is on supporting 15-20 small businesses and nonprofits led by Black entrepreneurs in the United States, engaged in sectors such as education, healthcare, finance, connectivity, agriculture, and renewable energy. The organization, known as ABLE (Accelerating Black Leadership and Entrepreneurship), aims to empower these leaders, contributing to essential community needs and promoting sustainable growth. With a team of four dedicated individuals, African Diaspora Network is actively working towards its objectives.
Official website here: www.africandiasporanetwork.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68%, Two-Star out of Four Star rating
The African Diaspora Network has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. With a score of 68%, the organization shows strong governance in areas such as having a majority of independent board members and maintaining a low liabilities to assets ratio. However, the lack of certain financial transparency measures, such as missing financial statements and policies for conflict of interest, raises some concerns about its overall accountability.
Strengths of the organization include a high percentage of independent board members and a strong program expense ratio, which suggests that a significant portion of funds is directed towards its programs. The organization has not reported any material diversion of assets, indicating good stewardship of its resources. However, the absence of key policies and missing documentation on its website detracts from its transparency and could hinder trust among potential donors and stakeholders.
While the African Diaspora Network demonstrates some commendable practices, the areas where it falls short should be addressed to enhance its accountability framework. Improving financial transparency and developing essential policies would likely improve its overall rating in future evaluations, fostering greater donor confidence and support for its mission.
This AI summary has been generated from information found on Charity Navigator.
Is African Diaspora Network legitimate?
African Diaspora Network is a legitimate nonprofit organization registered as a 501(c)(3) entity. African Diaspora Network 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: $145,241
Professional Fundraising Fees: $15,363
Other Salaries and Wages: $142,654
For more financial information, click here
Official website here: www.africandiasporanetwork.org
What is the mission statement of African Diaspora Network?
The African Diaspora Network's mission is centered around leveraging the intellectual, financial, philanthropic, and entrepreneurial capabilities of individuals with African heritage and their supporters. This endeavor is aimed at fostering economic and social development across Africa and the communities they reside in. The network specifically focuses on supporting 15-20 small businesses and nonprofit organizations led by Black entrepreneurs in the United States, with a focus on sectors such as education, healthcare, finance, connectivity, agriculture, and renewable energy. These endeavors aim to address essential community needs and stimulate sustainable growth.
Official website here: www.africandiasporanetwork.org
Who is the CEO of African Diaspora Network?
Almaz Negash is the Ed/Secretary of African Diaspora Network.
Official website here: www.africandiasporanetwork.org
What is the revenue of African Diaspora Network?
African Diaspora Network's revenue in 2022 was $1,285,679.
Official website here: www.africandiasporanetwork.org
Who are the executives of African Diaspora Network and what are their salaries?
The average compensation at African Diaspora Network during 2022 was $71,974. There are 4 employees and 6 volunteers at African Diaspora Network.
Here are 11 key members and their salaries:
- Compensation: $133,242
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- Other: $0
- Compensation: $12,000
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Official website here: www.africandiasporanetwork.org
Where can I find the form 990 for African Diaspora Network?
African Diaspora Network's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.africandiasporanetwork.org
Learn more at the official website: www.africandiasporanetwork.org
Mission Statement of African Diaspora Network
The African Diaspora Network, in its mission, aims to leverage the intellectual, financial, philanthropic, and entrepreneurial capabilities of individuals of African descent and their supporters. This organization strives to foster economic and social development across Africa and the communities in which they reside. To accomplish this, African Diaspora Network focuses on identifying and supporting 15-20 Black business leaders who are catalyzing innovative solutions to combat poverty in various sectors. These sectors encompass education, healthcare, finance, connectivity, agriculture, and renewable energy. By addressing these essential community needs and promoting sustainable growth, the African Diaspora Network aims to contribute to the betterment of society, both within the United States and across Africa.
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Impact
July, 2024
The African Diaspora Network's impact is evident through its Accelerating Black Leadership and Entrepreneurship (ABLE) program, which strengthens and supports small businesses and nonprofit organizations led by Black entrepreneurs in the United States. ABLE identifies and empowers 15-20 Black business leaders who are pioneering sustainable solutions to address poverty in various sectors such as education, healthcare, finance, connectivity, agriculture, and renewable energy. By nurturing these entrepreneurs, the African Diaspora Network is not only driving sustainable growth within communities but also amplifying the voices and contributions of Black leaders in the economic and social development landscape.
This information is meant to be a general summary of African Diaspora Network. 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: $1,285,679
Assets and Liabilities:
- Total Assets: $1,132,428
- Total Liabilities: $9,208
- Net Assets: $1,123,220
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Organization Details
Founding Year
2011
Phone
(408) 981-5876Principal Officer
Almaz Negash
Main Address
4701 Patrick Henry Dr Ste 25, Santa Clara, CA, 95054
NTEE Category
Code: Q33 - International
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