Civic Intelligence

African Collaborative Inc.

990 • Fiscal year 2023 • EIN 92-0715931

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

Organization Profileafricanvisionary.org
769 Centre Street Suite 201Boston, MA 02130

(678) 632-4534

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

Higher debt load relative to assets than 27% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

23rd percentile

0.00x

Higher debt load relative to revenue than 23% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

99th percentile

99%

Higher net margin than 99% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets27th percentile

Assets

$2,804,941

No earlier filing loaded for comparison.

Net Assets

$2,791,343

No earlier filing loaded for comparison.

Liabilities

$13,598

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin99th percentile

Revenue

$2,806,169

No earlier filing loaded for comparison.

Expenses

$14,826

No earlier filing loaded for comparison.

Net Income

$2,791,343

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2023: $2,804,941Liabilities 2023: $13,598Net Assets 2023: $2,791,3432023Assets 2024: $3,292,833Liabilities 2024: $2,367,921Net Assets 2024: $924,9122024

Highlighted filing

2023

Assets$2,804,941
Liabilities$13,598
Net Assets$2,791,343
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2023: $2,806,169Expenses 2023: $14,826Net Income 2023: $2,791,3432023Revenue 2024: $3,198,070Expenses 2024: $5,064,501Net Income 2024: -$1,866,4312024

Highlighted filing

2023

Revenue$2,806,169
Expenses$14,826
Net Income$2,791,343
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.0
Gross Receipts
$2,806,169
Mission and Program Overview

Mission

African collaborative's mission is to provide african-led organizations with vital resources to create purposeful, locally rooted change. We advocate for structural transformation in philanthropy and development to promote equitable funding practices that shift resources to the frontlines of impact.

The African Visionary Fund was established to address inequities in philanthropy by providing unrestricted funding to local African organizations. Primary activities include offering financial inclusion solutions, primarily in Africa, to unlock economic potential.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$1,960,000-
Cash and Non-Interest-Bearing Accounts-$802,001-
Accounts Receivable-$40,298-
Land, Buildings, and Equipment, Net$0$2,642▲ $2,642
Total Assets$0$2,804,941▲ $2,804,941
Liabilities
Accounts Payable and Accrued Expenses-$13,598-
Total Liabilities$0$13,598▲ $13,598
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$0$2,791,343▲ $2,791,343
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$0$2,791,343▲ $2,791,343
Total Liabilities and Net Assets / Fund Balance$0$2,804,941▲ $2,804,941

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,642$2,372$5,014
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Melizsa MugyenyiChair/President
Evelyn OmalaDirector
Milton SpeidDirector
Misan RewaneDirector
Wawira NjiruDirector
Atti WorkuCo-CEO
Katie Bunten-WamaruCo-CEO
Jailan AdlySecretary
Dr Suzy PuplampuTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,806,169
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,806,169
Change in Net Assets
$2,791,343
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,826
Total Fundraising Expense$6,000
Grants and Similar Amounts Paid$3,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other--$3,800$3,800
Fees for Services Accounting-$3,400-$3,400
Foreign Grants$3,000--$3,000
Office Expenses-$10$2,200$2,210
Depreciation Depletion-$1,228-$1,228
Information Technology-$1,188-$1,188
Total Functional Expenses$3,000$5,826$6,000$14,826
International Activity

International Summary

Offices
0
Employees
5
Spending
$3,000

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-Saharan AfricaGrantmakingThe African Visionary Fund was established to address inequities in philanthropy by providing unrestricted funding to local African organizations. Primary activities include offering financial inclusion solutions, primarily in Africa, to unlock economic potential.05$3,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
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, Section A, Line 8B

“Minutes are kept at Board meetings, but not at committee meetings.”

Form 990, Part VI, Section B, Line 11B

“Once the 990 is drafted and ready, it is shared with all board members and request approval. The board votes to approve the 990 before it is filed.”

Form 990, Part VI, Section B, Line 15

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request. Once we file our first 990, we will make this document available on our website.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request. Once we file our first 990, we will make this document available on our website.”

Filing and Contact Details

Filer

Filer Name
African Visionary Fund Inc
EIN
92-0715931
Address
769 Centre Street Suite 201, Boston, MA 02130

Signing Officer

Name
Melizsa Mugyenyi
Title
Board Chair/President
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melizsa Mugyenyi
Formed
2022
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
100 Degrees Consulting
Address
PO Box 222, Clarence Center, NY 14032
Preparer
Stephanie Skryzowski
Phone
6786324534
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 4

“Atti Worku and Katie Bunten-Wamaru are the Co- CEOs of African Visionary Fund, and are active voting members of the Board.”

Form 990, Part III, Line 2

“The African Visionary Fund was fiscally sponsored by Myriad USA (formerly KBFUS, King Baudouin Foundation United States) from August 2020 until present. This fiscal sponsorship was structured similar to a Donor-Advised Fund. We are in the process of closing our account with Myriad and plan to close by the end of 2024. All of our income and expenditure that was received and spent by Myriad USA has been reported by Myriad USA in their 990s from 2020 to 2023.”

Form 990, Part IX, Line 11G

“African Visionary Fund partners with a vendor that is focused on global professional services and social enterprise, with an emphasis on maintaining a strong social mission and focus on systemic change. They help global social sector organizations start, sustain, and scale their impact.”

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IRS990ScheduleD/DonorAdvisedFundsVlEOYAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt02642
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02372
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05014
IRS990ScheduleD/FundsAndOtherAccountsContriAmt00
IRS990ScheduleD/FundsAndOtherAccountsGrantsAmt00
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IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02642
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt05
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt03000
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Sub-Saharan Africa
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0The African Visionary Fund was established to address inequities in philanthropy by providing unrestricted funding to local African organizations. Primary activities include offering financial inclusion solutions, primarily in Africa, to unlock economic potential.
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Grantmaking
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/GrantRecordsMaintainedInd01
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0We receive annual progress reports as well as annual audited financials from all partners. We also conduct periodic site visits and regular phone call check-ins with all partners. All grantee partners fill out a follow-up survey one year later describing how the funds were used.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule F, Part I, Line 2
IRS990ScheduleF/TotalEmployeeCnt05
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalSpentAmt03000
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Atti Worku and Katie Bunten-Wamaru are the Co- CEOs of African Visionary Fund, and are active voting members of the Board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The African Visionary Fund was fiscally sponsored by Myriad USA (formerly KBFUS, King Baudouin Foundation United States) from August 2020 until present. This fiscal sponsorship was structured similar to a Donor-Advised Fund. We are in the process of closing our account with Myriad and plan to close by the end of 2024. All of our income and expenditure that was received and spent by Myriad USA has been reported by Myriad USA in their 990s from 2020 to 2023.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Minutes are kept at Board meetings, but not at committee meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Once the 990 is drafted and ready, it is shared with all board members and request approval. The board votes to approve the 990 before it is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The organization makes its governing documents, conflict of interest policy, and financial statements available upon request. Once we file our first 990, we will make this document available on our website.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The organization makes its governing documents, conflict of interest policy, and financial statements available upon request. Once we file our first 990, we will make this document available on our website.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6African Visionary Fund partners with a vendor that is focused on global professional services and social enterprise, with an emphasis on maintaining a strong social mission and focus on systemic change. They help global social sector organizations start, sustain, and scale their impact.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part III, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 11g
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IRS990/TerminateOperationsInd00
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05826
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03000
IRS990/TotalFunctionalExpensesGrp/TotalAmt014826
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt013598
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt013598
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02791343
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
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IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotalProgramServiceRevenueAmt00
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02806169
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02804941
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/AddressLine1Txt0769 Centre Street
IRS990/USAddress/AddressLine2Txt0Suite 201
IRS990/USAddress/CityNm0Boston

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,804,941
Liabilities
$13,598
Net assets
$2,791,343
Revenue
$2,806,169
Expenses
$14,826
Net income
$2,791,343
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.29$2.37$0.92$3.20$5.06$1.87
2023Detailed filing. Detailed filing data is available for this year.$2.80$0.01$2.79$2.81$0.01$2.79