2023-05-15T18:28:17-05:00 2022-06-30 221478099 COHNREZNICK LLP 621 CAPITOL MALL SUITE 2150 SACRAMENTO CA 95814 990 2021-07-01 222852248 VILLAGE ENTERPRISE FUND INC VILL 6508028891 1161 CHERRY STREET A SAN CARLOS CA 94070 ABDI DEBELA CFO 6508028891 2023-05-15 1 ABDI DEBELA 999009999 LISA M CUMMINGS CPA P00043433 9164429100 2023-05-15 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z DIANNE CALVI 1161 CHERRY STREET A SAN CARLOS CA 94070 11795930 0 X WWW.VILLAGEENTERPRISE.ORG X 1987 CA TO END EXTREME POVERTY IN RURAL AFRICA THROUGH ENTREPRENEURSHIP AND INNOVATION 17 16 14 16 0 0 5689133 11757490 0 37000 3336 1340 686 100 5693155 11795930 680658 1420369 0 0 2673239 3867266 0 0 671529 1369064 2452353 4722961 7739988 970194 4055942 5608385 9553935 262322 632922 5346063 8921013 X TO END EXTREME POVERTY IN RURAL AFRICA THROUGH ENTREPRENEURSHIP AND INNOVATION 1 0 6329791 1420369 37000 VILLAGE ENTERPRISE'S MISSION IS TO END EXTREME POVERTY IN RURAL AFRICA THROUGH ENTREPRENEURSHIP AND INNOVATION. WE IMPLEMENT A HIGH-IMPACT MICRO-ENTERPRISE GRADUATION PROGRAM FOR PEOPLE LIVING IN EXTREME POVERTY IN UGANDA, KENYA AND RWANDA. THE ORGANIZATION ENGAGES GROUPS OF THREE ENTREPRENEURS WHO LIVE BELOW THE EXTREME POVERTY LEVEL OF $1.90 PER DAY IN A ONE-YEAR PROGRAM THAT PROVIDES SEED CAPITAL, TRAINING, AND ONGOING MENTORSHIP. THESE ENTREPRENEURS FORM BUSINESS SAVINGS GROUPS FOCUSED ON SAVINGS AND GROWTH CAPITAL. 6329791 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 6 0 1 14 1 0 1 KE RW UG 0 0 0 0 0 0 0 0 0 0 X 17 16 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 DIRECTOR 1.00 X 0 0 0 BARBARA BISHOP DIRECTOR 4.00 X 0 0 0 BRUCE SEWELL VICE CHAIR 1.00 0.40 X X 0 0 0 DEBORAH A HALL DIRECTOR 4.00 X 0 0 0 DIANNE CALVI CEO & PRESIDENT 40.00 1.00 X X 176233 0 21776 EMEKA AJOKU TREASURER 4.00 X X 0 0 0 JAMIE AUSTIN DIRECTOR 1.00 0.40 X 0 0 0 JAY FRIEDRICHS DIRECTOR 1.00 X 0 0 0 JOE CHERNESKY DIRECTOR 1.00 0.40 X 0 0 0 JOE DOUGHERTY DIRECTOR 1.00 X 0 0 0 KATIE BOLAND CHAIR 6.00 X X 0 0 0 LARRY WU DIRECTOR 1.00 X 0 0 0 LISA GUERRA DIRECTOR 1.00 X 0 0 0 MARY DOSUNMU 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 SECRETARY 1.00 X X 0 0 0 KATHRYN PERKES CFO/CAO (OUTGOING) 40.00 2.00 X 123601 0 21797 ALEX SMITH DIRECTOR OF DEVELOPMENT/MARKETING 40.00 X 101607 0 11390 CAROLINE BERNADI CHIEF DEVELOPMENT OFFICER 40.00 X 116742 0 3502 LIZ CORBISHLEY CHIEF SCALING OFFICER 40.00 X 115217 0 0 ZACH HOINS CHIEF OPERATING OFFICER 40.00 X 109518 0 11921 742918 0 70386 6 0 1 0 0 316749 11440741 39080 11757490 DEVELOPMENT IMPACT BOND REVENUE 900099 37000 37000 37000 1124 1124 216 0 216 216 216 MISC INCOME 900099 100 100 100 11795930 37000 0 1440 1420369 1420369 274541 205021 32118 37402 2991931 2212399 344287 435245 94091 79205 7617 7269 348950 279097 45677 24176 157753 101364 26744 29645 5092 5092 45740 13240 32500 192603 100185 86028 6390 44117 19 16226 27872 156681 141955 9598 5128 83392 30917 30225 22250 95881 61305 34576 205611 156508 16942 32161 12480 9725 1250 1505 15122 15122 8749 8332 417 FIELD OPERATIONS 888240 888240 SUBAWARDS 485413 485413 RECRUITMENT 97404 80126 490 16788 TRAINING 58140 54322 1512 2306 57688 5289 29424 22975 7739988 6329791 738668 671529 1996076 5744140 2136587 2049431 1345850 46447 735527 30065 941972 177227 94362 53360 82865 5608385 9553935 58408 148779 203914 484143 262322 632922 X 3807023 3317531 1539040 5603482 5346063 8921013 5608385 9553935 4055942 -480992 0 X X 0 1 X 1 0 X 4426504 4498551 5195199 5689133 11757490 31566877 4426504 4498551 5195199 5689133 11757490 31566877 5121962 26444915 546 1016 35062 3336 1124 41084 104 23 122 685 100 1034 31608995 37000 0.83660 0.83530 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2017 AMOUNT: $ 104. 2018 AMOUNT: $ 23. 2019 AMOUNT: $ 122. 2020 AMOUNT: $ 685. 2021 AMOUNT: $ 100. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 177227 94362 82865 82865 X PART X, LINE 2: VEF 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. VEF AND VECC ARE ALSO EXEMPT FROM CALIFORNIA INCOME TAXES UNDER SECTION 23701 D OF THE CALIFORNIA REVENUE AND TAXATION CODE. VEF 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. 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 VILLAGE ENTERPRISE AND HAS DETERMINED THAT AS OF JUNE 30, 2022, THERE WERE NO MATERIAL UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. GENERALLY, TAX YEARS FROM JUNE 30, 2019 THROUGH THE CURRENT YEAR REMAIN OPEN TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. VILLAGE ENTERPRISE DOES NOT BELIEVE THAT THE RESULTS FROM ANY EXAMINATION OF THESE OPEN YEARS WOULD HAVE A MATERIAL ADVERSE EFFECT ON THE ORGANIZATION. 1 SUB-SAHARAN AFRICA 3 376 PROGRAM SERVICES TRAINING & MENTORING 4977576 3 376 0 0 3 376 4977576 0 4977576 SEED CAPITAL FOR PEOPLE LIVING IN POVERTY SUB-SAHARAN AFRICA 24534 1391994 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: X X 0 0 0 0 0 0 0 0 0 DIANNE CALVI CEO & PRESIDENT 176233 0 0 0 0 0 5287 0 16489 0 198009 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. X 6 39080 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 DURING 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. FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S PROCESSES FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAVE NOT CHANGED FROM THE PREVIOUS YEAR. 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 VILLAGE ENTERPRISE IMPACT BOND LLC S 37000 COST