Civic Intelligence

African Technology Foundation

990 • Fiscal year 2017 • EIN 46-4355360

Jan 01, 2017 to Dec 31, 2017 • Filed on Jul 04, 2018

650 Castro St Ste 120480Mountain View, CA 94041

(323) 710-7129

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

88th percentile

0.43x

Higher debt load relative to assets than 88% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

82nd percentile

0.10x

Higher debt load relative to revenue than 82% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

70th percentile

14%

Higher net margin than 70% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

99th percentile

$121,875

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 47.6% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2016 to 2017

Revenue Growth

96th percentile

199%

Faster revenue growth than 96% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Up

$60,592

Up $72,572 (+606%) from 2016

Net Assets

$34,819

No earlier filing loaded for comparison.

Liabilities

Up

$25,773

Up $25,773 from 2016

Revenue

Up

$256,211

Up $170,391 (+199%) from 2016

Expenses

Up

$219,114

Up $121,314 (+124%) from 2016

Net Income

Up

$37,097

Up $49,077 (+410%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80K$60K$40K$20K$0-$20KAssets 2015: $39,602Liabilities 2015: $0Net Assets 2015: $39,6022015Assets 2016: -$11,980Liabilities 2016: $02016Assets 2017: $60,592Liabilities 2017: $25,773Net Assets 2017: $34,8192017Assets 2018: $42,313Liabilities 2018: $0Net Assets 2018: $42,3132018Assets 2019: $57,387Liabilities 2019: $0Net Assets 2019: $57,3872019Assets 2020: $48,018Liabilities 2020: $0Net Assets 2020: $48,0182020Assets 2021: $47,270Liabilities 2021: $0Net Assets 2021: $47,2702021

Highlighted filing

2017

Assets$60,592
Liabilities$25,773
Net Assets$34,819

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2015: $129,058Expenses 2015: $105,698Net Income 2015: $23,3602015Revenue 2016: $85,820Expenses 2016: $97,800Net Income 2016: -$11,9802016Revenue 2017: $256,211Expenses 2017: $219,114Net Income 2017: $37,0972017Revenue 2018: $127,755Expenses 2018: $120,261Net Income 2018: $7,4942018Revenue 2019: $81,460Expenses 2019: $66,386Net Income 2019: $15,0742019Revenue 2020: $58,672Expenses 2020: $68,041Net Income 2020: -$9,3692020Revenue 2021: $0Expenses 2021: $748Net Income 2021: -$7482021

Highlighted filing

2017

Revenue$256,211
Expenses$219,114
Net Income$37,097
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jul 4, 2018
Return Version
2017v2.2
Gross Receipts
$256,211
Mission and Program Overview

Mission

African Technology Foundation was founded to provide the support system needed to globalize African technologies by providing access to resources that effectively address and manage the most pressing technological challenges on the continent. We achieve this through a series of activities that include capacity building, knowledge distribution, access to global networks, mentorships and diaspora engagement activities.We are committed to promoting cultural and educational interchanges that enhance the capabilities of entrepreneurs in the region. We will empower entrepreneurs by bridging knowledge gaps and providing access to best practices for improvements within African innovation ecosystems including, but not limited to universities, entrepreneurial hubs and government agencies.ATF will be based in the United States and will conduct a significant portion of its activities here. ATF is organized and shall be operated exclusively for charitable, scientific and educational purposes.

African technology landing padour technology landing pad will be a joint effort with other silicon valley stakeholders to promote the acceleration of the incubation and acculturation of african startups and enterprises. We are committed to the global positioning of african technologies, and our approach is guided by a unique combination of a rich silicon valley network and a strong team of mentors and startup advisers. Our us network will include incuation partnerships with the leading nonprofit technology incubators, and with the entrepreneurship departments of participating us universities that have a focus on africa (e.g. Gsbi at santa clara university and seed at standord university).venturepaththrough our venturepath program, we plan to facilitate the understanding of technology venture plans by african companies, which plans are relevant to the silicon valley market and the global innovation ecosystem. The program will include supporting and promoting incubation and acceleration

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$59,894-
Land, Buildings, and Equipment, Net-$698-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$0$60,592▲ $60,592
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$25,773-
Total Liabilities$0$25,773▲ $25,773
Net Assets / Fund Balance
Unrestricted Net Assets-$34,819-
Total Net Assets Fund Balance$0$34,819▲ $34,819
Total Liabilities and Net Assets / Fund Balance$0$60,592▲ $60,592

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$698$116$814
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Stephen OzoigboPres & SecyFT$121,875$121,875

Board Members and Trustees

NameTitle
Dawn SmithTrustee
NIALL O'CATHASAIGHTrustee
Ruth WilsonTrustee
Tarisai GarandeVP & Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$256,211
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$37,097
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$131,198
Other Expenses$87,916
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$121,875-$121,875
Fees for Services Other-$48,000-$48,000
Travel-$21,489-$21,489
Payroll Taxes-$9,323-$9,323
Conferences and Meetings-$4,904-$4,904
Office Expenses-$2,474-$2,474
Fees for Services Accounting-$1,465-$1,465
Other Expenses-$450-$450
Fees for Services Legal-$309-$309
All Other Expenses-$215-$215
Depreciation Depletion-$116-$116
Total Functional Expenses$0$219,114$0$219,114
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
African Technology Foundation
EIN
46-4355360
Address
650 CASTRO ST STE 120480, MOUNTAIN VIEW, CA 94041

Signing Officer

Name
Stephen Ozoigbo
Title
CEO
Signed
2018-07-04

Organization Details

Voting Board Members
5
Independent Board Members
0
Employees
0
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IRS990/MissionDesc0AFRICAN TECHNOLOGY FOUNDATION WAS FOUNDED TO PROVIDE THE SUPPORT SYSTEM NEEDED TO GLOBALIZE AFRICAN TECHNOLOGIES BY PROVIDING ACCESS TO RESOUCES THAT EFFECTIVELY ADDRESS AND MANAGE THE MOST PRESSING TECHNOLOGICAL CHALLENGES ON THE CONTINENT. WE ACHIEVE THIS THROUGH A SERIES OF ACTIVITIES THAT INCLUDE CAPACITY BUILDING, KNOWLEDGE DISTRIBUTION, AND ACCESS TO GLOBAL NETWORKS, MENTORSHIPS AND DIASPORA ENGAGEMENT ACTIVITIES. WE ARE COMMITTED TO PROMOTING CULTURAL AND EDUCATIONAL INTERCHANGES THAT ENHANCE THE CAPABILITIES OF ENTREPRENEURS IN THE REGION. WE WILL EMPOWER ENTREPRENEURS BY BRIDING KNOWLEDGE GAPS AND PROVIDING ACCESS TO BEST PRACTICES FOR IMPROVEMENTS WITHIN AFRICAN INNOVATION ECOSYSTEMS INCLUDING, BUT NOT LIMITED TO UNIVERSITITES ENTREPRENEURAL HUBS AND GOVERNMENT AGENCIES.ATF IS BASED IN THE UNITED STATES AND WILL CONDUCT A SIGNIFICAN PORTION OF ITS ACTIVITIES HERE.ATF IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES.
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2700
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3450
IRS990/OtherExpensesGrp/TotalAmt06716
IRS990/OtherExpensesGrp/TotalAmt11078
IRS990/OtherExpensesGrp/TotalAmt2700
IRS990/OtherExpensesGrp/TotalAmt3450
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt09323
IRS990/PayrollTaxesGrp/TotalAmt09323
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PriorPeriodAdjustmentsAmt0-2278
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt037097
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0256211
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt085820
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0129058
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt016242
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0487331
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt0487331
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0256211
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt085820
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0129058
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt016242
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0487331
IRS990ScheduleA/TotalSupportAmt0487331
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0698
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0116
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0814
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0698
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt060592
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt060592
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0256211
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0219114
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0219114
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt025773
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt025773
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt034819
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt0121875
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0256211
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt060592
IRS990/TravelGrp/ManagementAndGeneralAmt021489
IRS990/TravelGrp/TotalAmt021489
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/EOYAmt034819
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.THEAFRICANTECHNOLOGYFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN OZOIGBO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-07-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AFRICAN TECHNOLOGY FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0AFRI
ReturnHeader/Filer/EIN0464355360
ReturnHeader/Filer/USAddress/AddressLine1Txt0650 CASTRO ST STE 120480
ReturnHeader/Filer/USAddress/CityNm0MOUNTAIN VIEW
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094041
ReturnHeader/ReturnTs02018-07-04T14:29:09-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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