2016-09-07T20:10:01-05:00 2015-06-30 461171913 S D MAYER & ASSOCIATES LLP 235 MONTGOMERY STREET 28TH FL SAN FRANCISCO CA 94104 990 2014-07-01 222852248 VILLAGE ENTERPRISE FUND INC VILL 6508028891 751 LAUREL STREET NO 222 SAN CARLOS CA 940703113 DIANNE CALVI EXECUTIVE DIRECTOR 6508028891 2016-09-07 1 W NOEL MCNABOLA P00181055 4156914040 2016-09-07 2014 2016-12-15 16:53:06Z X DIANNE CALVI 751 LAUREL ST 222 SAN CARLOS CA 94070 2026781 0 1 X HTTP://WWW.VILLAGEENTERPRISE.ORG/ X 1987 CA TO END EXTREME POVERTY IN RURAL AFRICA THROUGH ENTREPRENEURSHIP AND INNOVATION. 11 10 12 44 0 0 1538334 1931607 0 0 1274 3198 86510 23654 1626118 1958459 306136 275402 0 0 805917 881928 0 0 272623 787693 659455 1899746 1816785 -273628 141674 660527 808051 78836 84686 581691 723365 TO END EXTREME POVERTY IN RURAL AFRICA THROUGH ENTREPRENEURSHIP AND INNOVATION. 0 0 1287966 275402 SEED CAPITAL - SEED CAPITAL GRANTS AND/OR ASSETS VALUED AT $150, WHICH ARE DISBURSED TO BUSINESSES AFTER A RIGOROUS TRAINING AND MENTORING PROGRAM. BUSINESS GROUPS ARE COMPOSED OF THREE INDIVIDUALS WHO MUST: QUALIFY FOR THE PROGRAM BASED ON THEIR SOCIO-ECONOMIC STATUS, COMPLETE THE TRAINING PROGRAM, BEGIN SAVING ON A MONTHLY BASIS AND SUBMIT A VIABLE BUSINESS PLAN. SEED CAPITAL AND/OR ASSETS ARE DISBURSED THREE TIMES PER YEAR. 89089 TRAINING AND MENTORING - THE TRAINING PROGRAM IS COMPOSED OF 14 SEPARATE TRAINING SESSIONS, EXTENDING OVER A PERIOD OF ONE YEAR. THE MAJORITY OF TRAINING SESSIONS ARE CONDUCTED PRIOR TO RECEIVING THE SEED CAPITAL OR ASSETS. 59393 BUSINESS MENTORING FOR NEW BUSINESSES - DURING THE TRAINING PROGRAM AND AFTER THE BUSINESSES HAVE BEEN FUNDED WITH SEED CAPITAL, VILLAGE ENTERPRISE BUSINESS MENTORS ASSIST IN BUSINESS FORMATION, GROUP DYNAMICS AND SAVINGS GROUP DEVELOPMENT (THE SAVINGS GROUP ARE COMPOSED OF 30 INDIVIDUALS). THE BUSINESS MENTORS ARE FULL-TIME STAFF MEMBERS WHO WORK IN THE COMMUNITIES AND IN THE FIELD ON A DAILY BASIS, PROVIDING GUIDANCE AND SUPPORT TO NEW BUSINESSES FOR ONE YEAR. 1436448 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 20 0 1 12 1 0 1 KE UG 0 0 0 1 1 0 0 0 0 X 11 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X DIANNE CALVI 6508028891 751 LAUREL ST 222 SAN CARLOS CA 94070 DEBORAH A HALL CHAIR 5.00 X X 0 0 0 LARRY LANGDON FORMER VICE CHAIR 1.00 X X 0 0 0 EMEKA AJOKU TREASURER 1.00 X X 0 0 0 TIM TIGHT SECRETARY 1.00 X X 0 0 0 BARBARA BISHOP DIRECTOR 1.00 X 0 0 0 CHRISTOPHER WUTHMANN FORMER DIRECTOR 1.00 X 0 0 0 JAMIE AUSTIN DIRECTOR 1.00 X 0 0 0 JAY FRIEDRICHS DIRECTOR 1.00 X 0 0 0 JOE DOUGHERTY DIRECTOR 1.00 X 0 0 0 LARRY WU DIRECTOR 1.00 X 0 0 0 PATRICK BROWN DIRECTOR 1.00 X 0 0 0 TIM GEISSE DIRECTOR 1.00 X 0 0 0 DIANNE CALVI CEO & PRESIDENT 40.00 X X 149399 0 0 149399 0 0 1 0 0 0 0 81191 1850416 82177 1931607 3198 3198 91976 68322 23654 23654 1958459 0 0 26852 275402 275402 151848 98701 13667 39480 594196 387183 52048 154965 57637 37464 5187 14986 78247 50861 7042 20344 935 570 169 196 21600 13176 3888 4536 36303 21990 6837 7476 13556 8135 2032 3389 22800 13680 3420 5700 31265 29380 709 1176 737 74 74 589 7675 6908 767 5773 3464 866 1443 FIELD OPERATIONS EXPENS 194841 194841 SPECIAL PROJECTS 172416 172416 OTHER EXPENSES 60705 36422 9107 15176 CURRENCY EXCHANGE LOSS 38194 38194 52655 47587 1901 3167 1816785 1436448 107714 272623 X 228049 393861 88669 108730 294664 257429 26307 6928 158912 117809 22838 41103 660527 808051 78836 84686 78836 84686 X 9710 268271 571981 455094 581691 723365 660527 808051 141674 0 X X 0 1 X 1 0 X 940790 1029892 1674870 1527799 1931607 7104958 940790 1029892 1674870 1527799 1931607 7104958 1333057 5771901 3198 3198 133569 50546 303282 113556 91976 692929 7801085 0.73990 0.77180 X PART II LINE 10 - OTHER INCOME OTHER INCOME IN 2014 CONSISTS OF GROSS FUNDRAISING EVENT INCOME IN THE AMOUNT OF $91,976. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 158912 117809 41103 41103 X 1958459 0 1958459 0 1958459 1865159 48374 48374 1816785 0 1816785 PART X, LINE 2: VILLAGE ENTERPRISE ASSESSES ITS ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN ITS FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE TAX RETURNS. PART XII, LINE 2D - OTHER ADJUSTMENTS: CORRECTION OF ERROR RE GRANTS PAYABLE 48,374. 1 SUB-SAHARAN AFRICA 3 100 GRANTS TO RECIPIENTS LOCATED IN THE REGION. SMALL CASH GRANTS ($150 EACH) ARE MADE TO GROUPS OF LOCAL INDIVIDUALS. GRANTS ARE MADE THROUGH LOCAL MENTORS WHO ARE RESPONSIBLE FOR IDENTIFYING LOCAL SMALL BUSINESS ENTREPRENEURS AND MENTORING THEIR PROGRESS. 1170022 3 100 0 0 3 100 1170022 0 1170022 CASH GRANTS AS SEED MONEY TO SMALL BUSINESSES. SUB-SAHARAN AFRICA 8253 272891 DISTRIBUTED THROUGH LOCAL MENTORS. 2511 BUSINESS INPUTS/ASSETS VARYING BY TYPE OF "BUSINESS IN A BOX" CASH. 0 0 0 0 0 0 PART I, LINE 2: VEF EMPLOYEES AND INTERNS VISIT THE REGION REGULARLY TO VERIFY GRANTS MADE DURING THE YEAR AND TO FOLLOW UP ON THE PROGRESS MADE BY THE LOCAL RECIPIENTS. PART I, LINE 3: EXPENDITURES ARE ACCOUNTED FOR UNDER THE ACCRUAL BASIS, WHICH IS THE METHOD USED FOR THE ORGANIZATION'S FINANCIAL STATEMENTS. BI-ANNUAL GALA DINNER 91976 0 91976 4824 42764 1700 19034 91976 91976 4824 42764 1700 19034 68322 23654 X 0 0 0 0 0 0 0 0 0 X 3 81287 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 VILLAGE ENTERPRISE FUND HAS PROVIDED ALL MEMBERS OF ITS GOVERNING BODY A COPY OF ITS FORM 990 FOR REVIEW BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO CONFIRM ANNUALLY THEIR INDEPENDENCE FROM THE ORGANIZATION AND TO DISCLOSE ANY RELATIONSHIPS WITH THE ORGANIZATION THAT MIGHT BE CONSIDERED A CONFLICT OF INTEREST. 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 MANGAGEMENT POSITIONS, DETERMINING THE PACKAGE THAT ACKNOWLEDGES THEIR EXPERIENCE AND RESPONSIBILITIES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE ONLINE ON OUR WEBSITE AND ON A RANGE OF OTHER CHARITY WEBSITES. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT POSTED ONLINE BUT AVAILABLE AT ANYONE'S REQUEST. FORM 990, PART X LINE 18 CORRECTION OF AN ERROR IN THE METHOD OF ACCOUNTING FOR PROGRAM GRANTS. GRANTS PAYABLE ARE CONDITIONAL AND ACCORDINGLY SHOULD NOT BE RECORDED AS PAYABLE UNTIL THE CONDITIONS HAVE BEEN SATISFIED. THESE CONDITIONS WERE NOT FULLY SATISFIED AT THE CLOSE OF THE FISCAL YEAR AND HAVE BEEN REVERSED. ACCOUNTS AFFECTED ARE: PART X ORIGINAL AMENDED GRANTS PAYABLE AT 6/30/14 77,864 -00- GRANTS PAYABLE AT 6/30/15 126,238 -00- PART IX GRANTS AND OTHER ASSISTANCE 323,776 275,402 TOTAL EXPENSES 1,865,159 1,816,785 PART II 4A EXPENSES 1,336,340 1,287,966 4A GRANTS 323,776 275,402 SCHEDULE D, PART XII 5. TOTAL EXPENSES 1,865,159 1,816,785 SCHEDULE F. PART I 3. TOTAL EXPENDITURES 1,218,396 1,170,022 PART III CASH GRANTS 321,265 272,891 FORM 990, PART XI LINE 2C VILLAGE ENTERPRISE FUND HAS AN AUDIT COMMITTEE WHOSE RESPONSIBILITY IS TO ENGAGE THE AUDITOR, TO MONITOR THE AUDIT PROCESS AND TO AND MEET WITH, REVIEW AND APPROVE THE FINAL AUDIT REPORT. THIS IS THE SAME PROCESS AS HAS BEEN IN EFFECT IN PRIOR YEARS.