Codespa America FY2024 filing

Tax-deductible

Washington, DC501(c)(3)Since 2011InternationalEIN 45-5419038Revenue $145K in FY2024

On file with the IRScodespa-america.org1050 Connecticut Ave Nw Unit 66235, 20035-7562 · Washington, DCTax-exempt since Jul 2013Publicly supported charity — 170(b)(1)(A)(vi)

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We are on a mission to elevate 10 million people from poverty to prosperity in the most underserved regions of latin America, africa, and asia through our community-led, scalable approach to rural market development and empowering entrepreneurs by providing them access to knowledge, markets, and financial services.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$120K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $16K a year · 3% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$120K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $24K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$113K
80% of total assets
Worth a look: liabilities are 80% of assets; over 65%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$145K
-71% vs prior year
Spent
$660K
To programs
73%
Net assets
$28K
By yearFY2020–FY2025
Revenue
$145K
FY2024▼ -71%
Tap a bar for its year
Revenue by fiscal year
FY2020$466K
FY2021$527K
FY2022$1.3M
FY2023$492K
FY2024$145K
FY2025$417K
Expenses
$660K
FY2024▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$495K
FY2021$513K
FY2022$504K
FY2023$631K
FY2024$660K
FY2025$417K
Net assets
$28K
FY2024▼ -95%
Tap a bar for its year
Net assets by fiscal year
FY2020−$97K
FY2021−$82K
FY2022$682K
FY2023$543K
FY2024$28K
FY2025$28K

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2013.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $484K Management & general 19% · $122K Fundraising 8% · $54K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990; $120K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$120,000Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Michelle Hnizda’s $120K as Executive Director is at the 89th percentile of top reported officer pay among 1636 $100K–1M international nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Michelle Riestra———$100,000$100,000$125,000
Michelle Hnizda$120,000$120,000$120,000———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Codespa America executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Alleviates poverty globally by creating income-generating opportunities through market-based solutions.

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Provided by the organization

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3 programs · $484K · in their own filed words · FY2024
01

Promoting entrepreneurship, employment, community savings and credit groups to provide economic and capital opportunities to the families of huaral - peru, phase 2DURING phase 2, the project has been able to generate 2,500 jobs for the local communities.

$339Kprogram expense
02

Promote the productive inclusion of 200 rural families in the dairy and alpaca fiber value chains in ecuador. This project will contribute to improving the quality of life of 200 families of small producers in the ecuadorian andes.

$91Kprogram expense
03

Market study for economic activities in guatemala that would yield higher incomes for the population in GUATEMALA.THIS study aims to identify economic activities or sectors with the greatest potential for developing or strengthening entrepreneurship and employability in 7 communities of palencia municipality (guatemala): los cedritos, el…

$54Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$24K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$145K
Ln 12
Gifts and grantsLn 1h$145K
Investment incomeLn 3$9
Money outPt IX
$660K
Ln 25
Programscol B$484K
Managementcol C$122K
Fundraisingcol D$54K
Owns and owesPt X
$28K
net assets · Ln 32
Cash and savingsLn 1–2$58K
Total assetsLn 16$141K
LiabilitiesLn 26$113K
PeoplePt VI, VII
13
listed · VII A
PaidVII A1
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$145K
Investment incomeLn 3$9
Total revenueLn 12$145K
Assets in detailPt X, end of year
CashLn 1$58K
Cash and savings togetherLn 1–2$58K
Total assetsLn 16$141K
LiabilitiesLn 26$113K
Net assetsLn 32$28K
OperationsPt I, VI
EmployeesI 52
VolunteersI 612
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$147K$58K
Total assetsLn 16$621K$141K
LiabilitiesLn 26$78K$113K
Net assetsLn 32$543K$28K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$128K$25K$71K$31K
Payroll taxesLn 10$9K$2K$5K$2K
Accounting feesLn 11c$45K$5K$40K
Other fees for servicesLn 11g$439K$438K$900
Office expensesLn 13$23K$14K$2K$7K
Information technologyLn 14$814$814
TravelLn 17$11K$336$11K
Conferences, conventions and meetingsLn 19$1K$398$1K
InsuranceLn 23$2K$2K
Total functional expensesLn 25$660K$484K$122K$54K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $417K$417K$64$28K 990 PDF
FY2024 Viewing $145K$660K−$515K$28K 990 PDF
FY2023 $492K$631K−$139K$543K 990 PDF
FY2022 $1.3M$504K$765K$682K 990 PDF
FY2021 $527K$513K$15K−$82K 990 PDF
FY2020 $466K$495K−$29K−$97K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $144,538 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $491,531$144,529
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $356$9
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $491,887$144,538
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $136,311$137,255
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $494,847$522,712
I-18 Total expensesPrior year $631,158$659,967
I-19 Revenue less expensesPrior year −$139,271−$515,429
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $144,538 across 4 lines filed
VIII-1f All other contributions, gifts and grants$144,529
VIII-1h Total contributions, gifts and grants$144,529
VIII-3 Investment incomeExcluded from tax $9$9
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $9$144,538
Part IX · Statement of functional expenses $659,967 across 9 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $25,231 · Management $71,441 · Fundraising $31,385$128,057
IX-10 Payroll taxesPrograms $1,811 · Management $4,986 · Fundraising $2,401$9,198
IX-11c Accounting feesPrograms $4,731 · Management $40,038$44,769
IX-11g Other fees for servicesPrograms $438,306 · Fundraising $900$439,206
IX-13 Office expensesPrograms $13,780 · Management $2,182 · Fundraising $7,032$22,994
IX-14 Information technologyManagement $814$814
IX-17 TravelPrograms $336 · Fundraising $10,886$11,222
IX-19 Conferences, conventions and meetingsManagement $398 · Fundraising $1,048$1,446
IX-23 InsuranceManagement $2,261$2,261
IX-25 Total functional expensesPrograms $484,195 · Management $122,120 · Fundraising $53,652$659,967
Part X · Balance sheet $140,743 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $146,606$58,317
X-3 Pledges and grants receivableStart of year $473,396$79,873
X-9 Prepaid expenses and deferred chargesStart of year $679$2,553
X-16 Total assetsStart of year $620,681$140,743
X-17 Accounts payable and accrued expensesStart of year $77,609$3,767
X-25 Other liabilitiesStart of year $0$109,333
X-26 Total liabilitiesStart of year $77,609$113,100
X-27 Net assets without donor restrictionsStart of year $1,480−$80,712
X-28 Net assets with donor restrictionsStart of year $541,592$108,355
X-32 Total net assets or fund balancesStart of year $543,072$27,643
X-33 Total liabilities and net assetsStart of year $620,681$140,743
Part XI · Reconciliation of net assets $27,643 net assets at year end
XI-1 Total revenue$144,538
XI-2 Total expenses$659,967
XI-3 Revenue less expenses−$515,429
XI-4 Net assets at start of year$543,072
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$27,643

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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