2012-04-04T16:02:47-05:00 2011-06-30 PMB Helin Donovan 50 Francisco Street Suite 120 San Francisco CA 94133 990 2010-07-01 222852248 Village Enterprise Fund Inc VILL 6508028891 751 Laurel Street No 222 San Carlos CA 940703113 Dianne Calvi 6508028891 2012-02-15 W Noel McNabola 4153991330 2010 2016-02-24 21:20:13Z Dianne Calvi 751 Laurel St 222 San Carlos CA 94070 1074359 0 1 X http://www.villageef.org/ X 1987 CA Our mission is to equip people living in extreme poverty with resources to create sustainable businesses. 8 7 10 25 0 0 1316359 940790 0 0 0 0 4556 95148 1320915 1035938 249200 248478 0 0 353642 503950 0 0 167553 618874 359162 1221716 1111590 99199 -75652 471722 300759 212258 124771 259464 175988 X Our mission is to equip people living in extreme poverty with resources to create sustainable businesses. 0 0 813773 248478 Start small businesses with Seed Capital Grants of $150 11201 Business Training for entrepreneurs who will receive a grant. In order to receive the seed capital grant, businesses (composed of 5 individuals) must go through business training which includes record keeping, savings and basic ecnonomic principles 37743 Business Mentoring for new businesses. After a business has been trained and funded with seed capital, our network of volunteer business mentors provide guidance for a year, with a stipend for expenses for services rendered. Other miscellaneous program expenses that were not listed. 862717 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 8 0 1 10 1 0 1 KE UG 0 0 0 1 1 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 1 1 0 CA X X Dianne Calvi 6508028891 751 Laurel St 222 San Carlos CA 94070 X Woodson Hobbs 1.00 X 0 0 0 Larry Langdon 2.00 X X 0 0 0 Tracea Roman 1.00 X X 0 0 0 Christopher Wuthmann 1.00 X X 0 0 0 Jay Friedrichs 1.00 X 0 0 0 Deborah A Hall 1.00 X 0 0 0 Tim Tight 1.00 X 0 0 0 Emeka Ajoku 1.00 X 0 0 0 Safa Raschtsy 1.00 X 0 0 0 0 0 0 0 0 0 0 0 940790 940790 133569 38421 95148 95148 1035938 0 0 95148 248478 248478 418682 255348 53466 109868 35881 21883 4582 9416 49387 30120 6307 12960 16063 9638 2409 4016 19608 11765 2941 4902 37841 37841 2799 1706 410 683 18109 9055 2716 6338 3274 2128 327 819 Field Operations Expens 117448 117448 Special Projects 57204 57204 Other Expenses 22512 14632 2251 5629 Website 21836 14193 2184 5459 Professional Fees 15000 9750 1500 3750 27468 21528 2227 3713 1111590 862717 81320 167553 118043 346822 141759 67882 2101 17948 3000 101430 65574 39070 35856 471722 300759 127930 37973 84328 86798 212258 124771 X -47320 -182125 306784 358113 259464 175988 471722 300759 X -75652 -7824 X X 0 1 1 X 0 X 998597 1007264 1055741 1316359 940790 5318751 998597 1007264 1055741 1316359 940790 5318751 219889 5098862 6741 2241 8982 5327733 0.95700 0.99800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 101430 65574 35856 35856 1035938 1111590 -75652 -7824 -7824 -83476 1076385 48271 -7824 40447 1035938 0 1035938 1159861 48271 48271 1111590 0 1111590 Description of Uncertain Tax Positions Under FIN 48: Part X: In June 2006, FASB issued ASC 740, Accounting for Uncertainty in Income Taxes. ASC 740 addresses the accounting for uncertainties in income taxes recognized in an enterprise's financial statements and prescribes a threshold of more-likely-than-not for recognition and de-recognition of tax positions taken or expected to be taken in a tax return. ASC 740 also provides related guidance on measurement, classification, interest and penalties, and disclosure. There was no material impact to Village Enterprise's financial statements as a result of the adoption of ASC 740. Part XI, Line 8 - Other Adjustments: Foreign exchange loss -7,824. Part XII, Line 2d - Other Adjustments: Currency Exchange Loss -7,824. 0 Sub-Saharan Africa 2 9 Grants to recipients located in the region. Small cash grants ($150 each) are made to groups local individuals. Grants are made through local mentors who are responsible for identifying local small business entrepreneurs and mentoring their progress. 527994 2 9 0 0 2 9 527994 0 527994 Cash grants as seed money to small businesses Sub-Saharan Africa 10020 248478 Distributed through local mentors Cash 0 0 0 0 0 0 Procedure for Monitoring Grants Outside the U.S.: Schedule F, 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. Method Used to Acccount for Expenditures: Schedule F, Part I, Line 3: Grants are recorded when awarded. X X X X X Bi-Annual Dinner 133569 133569 38421 133569 133569 38421 38421 95148 X 0 0 0 0 0 0 0 0 0 X Legal Services 1 40080 X Other Technical Services 1 8191 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 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. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Foreign exchange loss -7,824. Total to Form 990, Part XI, Line 5: -7,824. Oversight of Audit process 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.