2024-05-15T11:42:51-05:00 2023-06-30 221478099 COHNREZNICK LLP 621 CAPITOL MALL SUITE 2150 SACRAMENTO CA 95814 990 2022-07-01 222852248 VILLAGE ENTERPRISE FUND INC VILL 6508028891 1161 CHERRY STREET A SAN CARLOS CA 94070 DIANNE CALVI CEO/PRESIDENT 6508028891 2024-05-15 1 DIANNE CALVI 999009999 1 JOLANTA TUCK CPA P01340068 9164429100 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DIANNE CALVI 1161 CHERRY STREET A SAN CARLOS CA 94070 18562433 0 X WWW.VILLAGEENTERPRISE.ORG X 1987 CA TO END EXTREME POVERTY IN RURAL AFRICA THROUGH ENTREPRENEURSHIP AND INNOVATION. (SEE SCHEDULE O)PARTNERING WITH GOVERNMENTS, NONPROFITS, UNITED NATIONS AGENCIES, CONSERVATION ORGANIZATIONS, AND PRIVATE SECTOR COMPANIES, VILLAGE ENTERPRISE EQUIPS FIRST-TIME ENTREPRENEURS IN AFRICA WITH RESOURCES AND SKILLS TO START CLIMATE-SMART BUSINESSES AND SAVINGS GROUPS. LOCALLY-LED AND COMMUNITY-BASED, THE ORGANIZATION WORK WITH THE MOST VULNERABLE WOMEN, REFUGEES, AND YOUTH IN RURAL AFRICA AND EQUIP THEM TO ADAPT TO THE SHOCKS OF DROUGHT, DISPLACEMENT, THE PANDEMIC, AND CONFLICT. 15 15 18 10 0 0 11757490 18465789 37000 0 1340 87564 100 8715 11795930 18562068 1420369 3924503 0 0 3867266 5304037 0 0 884502 2452353 3367008 7739988 12595548 4055942 5966520 9553935 16503296 632922 1615763 8921013 14887533 X VILLAGE ENTERPRISE'S MISSION IS TO END EXTREME POVERTY IN RURAL AFRICA THROUGH ENTREPRENEURSHIP AND INNOVATION. PARTNERING WITH GOVERNMENTS, NONPROFITS, UNITED NATIONS AGENCIES, CONSERVATION ORGANIZATIONS, AND PRIVATE SECTOR COMPANIES, (SEE SCHEDULE O)VILLAGE ENTERPRISE EQUIPS FIRST-TIME ENTREPRENEURS IN AFRICA WITH RESOURCES AND SKILLS TO START CLIMATE-SMART BUSINESSES AND SAVINGS GROUPS. LOCALLY-LED AND COMMUNITY-BASED, THE ORGANIZATION WORK WITH THE MOST VULNERABLE WOMEN, REFUGEES, AND YOUTH IN RURAL AFRICA AND EQUIP THEM TO ADAPT TO THE SHOCKS OF DROUGHT, DISPLACEMENT, THE PANDEMIC, AND CONFLICT. 1 0 7599872 3924503 DREAMS - THE DELIVERING RESILIENT ENTERPRISES AND MARKET SYSTEMS (DREAMS) PROJECT PROVIDES INNOVATIVE SOLUTION THAT DRIVES REFUGEE SELF-RELIANCE. THE PROJECT IS COFUNDED BY FIVE FOUNDATIONS AND IT AIMS TO EQUIP 200,000 OF THE MOST VULNERABLE REFUGEES IN UGANDA AND ETHIOPIA WITH KILLS AND RESOURCES TO BECOME SUCCESSFUL ENTREPRENEURS. 2464424 CATHOLIC RELIEF SERVICES (CRS) NAWIRI, IN CONSORTIUM WITH VILLAGE ENTERPRISE FUND, WAS AWARDED A FEDERAL COOPERATIVE AGREEMENT BY USAID TO IMPLEMENT THE USAID MFUMO IMARA LISHE ENDELEVU (MILE) PROGRAM. THIS INITIATIVE AIMS TO DELIVER A MULTISECTORAL PACKAGE OF SERVICES TO ASSIST LOCAL INSTITUTIONS IN SUSTAINABLY REDUCING PERSISTENT ACUTE MALNUTRITION AMONG VULNERABLE POPULATIONS IN ISIOLO AND MARSABIT COUNTIES IN KENYA. VILLAGE ENTERPRISE LEADS A POVERTY GRADUATION PROGRAM BY BUILDING ON ITS ENTREPRENEURIAL FOUNDATION THAT HAS SUPPORTED NEW ENTERPRISES IN KENYA. 561041 THE GLOBAL DEVELOPMENT INCUBATOR (GDI), IN CONSORTIUM WITH VILLAGE ENTERPRISE AND THE BOMA PROJECT, HAS BEEN AWARDED A GRANT BY THE GOVERNMENT OF KENYA'S MINISTRY OF LABOR AND SOCIAL PROTECTION, AND THE STATE DEPARTMENT FOR SOCIAL PROTECTION. THIS GRANT IS FOR EXECUTING A SUBAWARD TITLED "PROVISION OF TECHNICAL ASSISTANCE TO SUPPORT IMPLEMENTATION OF ECONOMIC INCLUSION INTERVENTION," UNDER THE KENYA SOCIAL ECONOMIC INCLUSION PROJECT. 10625337 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1 1 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 9 0 1 18 1 0 1 KE RW UG 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X THE ORGANIZATION 6508028891 1161 CHERRY STREET A SAN CARLOS CA 94070 ALEKSANDRA PETERS CHAIR OF GOVERNANCE & HR COMMITTEE 1.00 X 0 0 0 ALEXIS RWABIZAMBUGA FROM 0523 DIRECTOR 1.00 X 0 0 0 BARBARA BISHOP UNTIL 0323 DIRECTOR 4.00 X 0 0 0 BRUCE SEWELL VICE CHAIR 1.00 0.40 X X 0 0 0 DEBBIE HALL CHAIR OF DEVELOPMENT COMMITTEE 4.00 X 0 0 0 DIANNE CALVI CEO & PRESIDENT 40.00 1.00 X X 193042 0 23369 EMEKA AJOKU TREASURER, CHAIR OF FINANCE COMMITTEE 4.00 X X 0 0 0 ERMIAS ESHETU FROM 0523 DIRECTOR 1.00 X 0 0 0 EVELYN NAMARA FROM 0523 DIRECTOR 1.00 X 0 0 0 JAMIE AUSTIN CHAIR OF IMPACT COMMITTEE 1.00 0.40 X 0 0 0 JAY FRIEDRICHS DIRECTOR 1.00 X 0 0 0 JOE CHERNESKY UNTIL 0323 DIRECTOR 1.00 0.40 X 0 0 0 JOE DOUGHERTY UNTIL 0323 DIRECTOR 1.00 X 0 0 0 KATIE BOLAND CHAIR 6.00 X X 0 0 0 LARRY WU UNTIL 0323 DIRECTOR 1.00 X 0 0 0 LISA GUERRA CHAIR OF NOMINATING COMMITTEE 1.00 X 0 0 0 MARY DOSUNMU DIRECTOR 1.00 X 0 0 0 MICHAEL MITHIKA FROM 0523 DIRECTOR 1.00 X 0 0 0 PATRICK BROWN DIRECTOR 4.00 X 0 0 0 SERAH KIMANI DIRECTOR 1.00 X 0 0 0 TIM GEISSE UNTIL 0323 SECRETARY 1.00 X X 0 0 0 ABDI DEBELA CHIEF FINANCIAL OFFICER AS OF 1/2023 40.00 0.10 X 0 0 0 CELESTE BRUBAKER CHIEF IMPACT OFFICER 40.00 X 95182 0 12136 ISRAEL GHEBRETSINAE CHIEF FINANCIAL OFFICER 40.00 0.10 X 24875 0 0 WINNIE AUMA CHIEF PROGRAMS OFFICER 40.00 X 99900 0 5001 CAROLINE BERNADI CHIEF DEVELOPMENT OFFICER 40.00 0.50 X 127933 0 3227 LIZ CORBISHLEY CHIEF STRATEGY & PARTNERSHIP OFFICER 40.00 X 126439 0 3336 ZACH HOINS CHIEF OPERATING OFFICER 40.00 X 151362 0 13535 818733 0 60604 4 0 1 0 0 215622 18250167 56219 18465789 77895 77895 10034 365 0 -365 10034 9669 9669 8715 8715 8715 18562068 0 0 96279 1757897 1757897 2166606 2166606 259177 198584 29368 31225 4287577 3285176 485836 516565 154375 118283 17493 18599 382687 293218 43363 46106 220221 168735 24954 26532 6647 6647 61057 61057 183440 44479 116525 22436 90860 1550 89310 324827 250735 58571 15521 93287 72945 13990 6352 102795 77107 25307 381 397039 303215 32472 61352 22407 17112 1833 3462 20293 9336 9565 1392 9327 6996 2296 35 FIELD OPERATIONS 1518762 1518762 RECRUITMENT 206485 158211 23397 24877 TRAINING 116370 89164 13186 14020 LOSS ON CURRENCY EXCHAN 82953 82953 130459 80579 43543 6337 12595548 10625337 1085709 884502 5744140 6028848 2049431 9166865 735527 1045453 941972 138595 156111 92643 82865 63468 60067 9553935 16503296 148779 1084902 484143 470794 0 60067 632922 1615763 X 3317531 11108238 5603482 3779295 8921013 14887533 9553935 16503296 5966520 0 X 0 1 X 1 0 X 4498551 5195199 5689133 11757490 18465789 45606162 4498551 5195199 5689133 11757490 18465789 45606162 5402437 40203725 1016 35062 3336 1124 77895 118433 23 122 685 100 8715 9645 45734240 37000 0.87910 0.83660 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2018 AMOUNT: $ 23. 2019 AMOUNT: $ 122. 2020 AMOUNT: $ 685. 2021 AMOUNT: $ 100. 2022 AMOUNT: $ 8,715. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 156111 92643 63468 63468 LEASE LIABILITIES 60067 60067 X 18562904 836 836 18562068 0 18562068 12611368 15820 15820 12595548 0 12595548 PART X, LINE 2: VILLAGE ENTERPRISE AND VECC ARE NOT-FOR-PROFIT ORGANIZATIONS, EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE (THE "CODE"), AND CONTRIBUTIONS TO THEM ARE TAX DEDUCTIBLE AS PRESCRIBED BY THE CODE. VILLAGE ENTERPRISE AND VECC ARE ALSO EXEMPT FROM CALIFORNIA INCOME TAXES UNDER SECTION 23701 D OF THE CALIFORNIA REVENUE AND TAXATION CODE. VILLAGE ENTERPRISE AND VECC HAVE BEEN CLASSIFIED AS ORGANIZATIONS THAT ARE NOT PRIVATE FOUNDATIONS UNDER SECTION 509(A)(1) AND HAVE BEEN DESIGNATED AS "PUBLICLY SUPPORTED ORGANIZATIONS UNDER SECTION 170(B)(1)(A)(VI) OF THE CODE. VEIB IS TREATED AS A DISREGARDED ENTITY FOR FEDERAL TAX PURPOSES AND IS INCLUDED IN THE TAX FILINGS OF VECC. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS DETERMINED THAT AS OF JUNE 30, 2023, THERE WERE NO MATERIAL UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. GENERALLY, TAX YEARS FROM JUNE 30, 2020 THROUGH THE CURRENT YEAR REMAIN OPEN TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE ORGANIZATION DOES NOT BELIEVE THAT THE RESULTS FROM ANY EXAMINATION OF THESE OPEN YEARS WOULD HAVE A MATERIAL ADVERSE EFFECT ON THE ORGANIZATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: CONSOLIDATED AFFILIATES 836. PART XII, LINE 2D - OTHER ADJUSTMENTS: CONSOLIDATED AFFILIATES 15,820. 1 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 3 421 PROGRAM SERVICES TRAINING & MENTORING 8013919 3 421 0 0 3 421 8013919 0 8013919 SEED CAPITAL FOR PEOPLE LIVING IN POVERTY SUB-SAHARAN AFRICA 43611 2166606 MOBILE MONEY CASH VALUE 0 0 1 0 0 0 PART I, LINE 2: VEF EMPLOYEES VISIT THE FIELD SITES REGULARLY TO VERIFY GRANTS MADE DURING THE YEAR AND FOLLOW UP ON THE PROGRESS ACHIEVED BY OUR PROGRAM PARTICIPANTS. PART I, LINE 3: SPECIFIC TYPES OF SERVICES IN REGION: SMALL CASH GRANTS ($150 EACH) ARE MADE TO GROUPS OF LOCAL INDIVIDUALS. GRANTS ARE MANAGED THROUGH COMMUNITY BASED BUSINESS MENTORS WHO ARE RESPONSIBLE FOR IDENTIFYING LOCAL SMALL BUSINESS ENTREPRENEURS AND MENTORING THEIR PROGRESS. EXPENDITURES ARE ACCOUNTED FOR UNDER THE ACCRUAL BASIS, WHICH IS THE METHOD USED FOR THE ORGANIZATION'S FINANCIAL STATEMENTS. PART III, COL (C): NUMBER OF RECIPIENTS IS A REASONABLE ESTIMATE. PART III ACCOUNTING METHOD: 0 MERCY CORPS 911148123 501(C)(3) 1057563 0 FMV N/A SUBAWARD FUNDING FOR DREAMS PROJECT WORK IN UGANDA AND ETHIOPIA. 1 X X 0 0 0 0 0 0 0 1 0 DIANNE CALVI CEO & PRESIDENT 193042 0 0 0 0 0 5858 0 17511 0 216411 0 0 0 ZACH HOINS CHIEF OPERATING OFFICER 119932 0 31430 0 0 0 4567 0 8968 0 164897 0 0 0 PART I, LINE 3 COMPARABILITY DATA IS USED TO DETERMINE WHAT PROPER COMPENSATION PACKAGE IS REASONABLE FOR ALL EMPLOYEES. THE BOARD AND OFFICERS DO A THOROUGH ANALYSIS OF POTENTIAL CANDIDATES FOR UPPER MANAGEMENT POSITIONS DETERMINING THE PACKAGE THAT ACKNOWLEDGES THEIR EXPERIENCE AND RESPONSIBILITIES. ANNUAL CHANGES IN COMPENSATION ARE REVIEWED WITH THE HR & GOVERNANCE COMMITTEE PRIOR TO IMPLEMENTATION. DISCUSSIONS AROUND ALL COMPENSATION DECISIONS ARE REFLECTED IN THE COMMITTEE MEETING NOTES. THE BOARD ALSO USES FROM 990 OF OTHER ORGANIZATIONS AS ONE OF THE WAYS TO VERIFY THE COMPENSATION OF THE CEO. PART I, LINE 7 CERTAIN EMPLOYEES RECEIVED A PERFORMANCE BASED BONUS PAYMENT, BASED ON COMPANY PERFORMANCE METRICS AND CONTRACT STIPULATIONS. THE CEO AND PRESIDENT'S BONUS IS AT THE DISCRETION OF THE BOARD. X 318 56219 FMV 0 0 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS IN COLUMN (B). FORM 990, PART III, LINE 2 THE MULTI-COUNTRY, MULTI-YEAR DELIVERING RESILIENT ENTERPRISES AND MARKET SYSTEMS (DREAMS) PROGRAM COMMENCED IN THE YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 DRAFT IS REVIEWED BY THE CFO AND OTHER INTERNAL STAFF. THE DRAFT FILING IS DISTRIBUTED TO THE MEMBERS OF THE GOVERNANCE BODY FOR REVIEW AND THEIR APPROVAL BEFORE THE FINAL COPY IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY IN PLACE. ALL BOARD MEMBERS OF THE ORGANIZATION AND ITS AFFILIATED ENTITIES ARE REQUIRED TO REVIEW THE POLICY AND DISCLOSE ANY CONFLICTS, IN WRITING, WHEN THEY JOIN THE BOARD. MANAGEMENT MONITORS THE POLICY BY DISTRIBUTING CONFLICT OF INTEREST FORMS TO ALL BOARD MEMBERS ANNUALLY. THE BOARD MEMBERS ARE REQUIRED TO REVIEW AND COMPLETE THE FORMS, DISCLOSING ANY CONFLICTS, AND RETURN THEM TO THE STAFF BOARD LIAISON WHO MAINTAINS THE RECORDS. FORM 990, PART VI, SECTION B, LINE 15 COMPARABILITY DATA IS USED TO DETERMINE WHAT PROPER COMPENSATION PACKAGE IS REASONABLE FOR ALL EMPLOYEES. THE BOARD AND OFFICERS DO A THOROUGH ANALYSIS OF POTENTIAL CANDIDATES FOR UPPER MANAGEMENT POSITIONS DETERMINING THE PACKAGE THAT ACKNOWLEDGES THEIR EXPERIENCE AND RESPONSIBILITIES. ANNUAL CHANGES IN COMPENSATION ARE REVIEWED WITH THE HR & GOVERNANCE COMMITTEE PRIOR TO IMPLEMENTATION. DISCUSSIONS AROUND ALL COMPENSATION DECISIONS ARE REFLECTED IN THE COMMITTEE MEETING NOTES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. UPON REQUEST, THE ORGANIZATION WILL MAKE AVAILABLE ONLY THOSE DOCUMENTS REQUIRED TO BE DISCLOSED UNDER THE PUBLIC INSPECTION LAWS. VILLAGE ENTERPRISE CAPITAL CONNECTOR CORPORATION 1161 CHERRY STREET SUITE A SAN CARLOS CA 94070 824611573 SUPPORT DE 501(C)(3) LINE 12A, I VILLAGE ENTERPRISE FUND INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1