Research efforts on economic transformation and entrepreneurship development in emerging markets; research and advocacy for mental health in conflict areas

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 12 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
1 of 2
filings with a surplus
Average surplus $6K a year · 1% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $354K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$499K
+11% vs prior year
Spent
$631K
To programs
100%
Net assets
$44K
By yearFY2020–FY2025
Revenue
$499K
FY2025▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$183K
FY2021$169K
FY2022$198K
FY2023$181K
FY2024$451K
FY2025$499K
Expenses
$631K
FY2025▲ +106%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022Not on file
FY2023Not on file
FY2024$306K
FY2025$631K
Net assets
$44K
FY2025▼ -75%
Tap a bar for its year
Net assets by fiscal year
FY2020$57K
FY2021$108K
FY2022$20K
FY2023$10K
FY2024$176K
FY2025$44K

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2014.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $631K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Managing Director
$0Pt VII · Sec A
See Chex INC 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

Researching economic transformation, entrepreneurship, and mental health advocacy in conflict zones.

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2 programs · $631K · in their own filed words · FY2025
01

Led development of online program, delivery and content and curriculum for entrepreneurship in frontier economies including two online courses and the development of associated content materials impacting over 70 participants directly and 330 indirectly in countries with GDP per capita <$5000

$631Kprogram expense
02

Grant to Vietnamese foundation for education scholarship

Pt IX · col B

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$354K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$499K
Ln 12
Gifts and grantsLn 1h$490K
Investment incomeLn 3$9K
Money outPt IX
$631K
Ln 25
Programscol B$631K
Owns and owesPt X
$44K
net assets · Ln 32
Cash and savingsLn 1–2$44K
Total assetsLn 16$44K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$490K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$9K
Total revenueLn 12$499K
Assets in detailPt X, end of year
SavingsLn 2$44K
Cash and savings togetherLn 1–2$44K
Total assetsLn 16$44K
LiabilitiesLn 26$0
Net assetsLn 32$44K
OperationsPt I, VI
EmployeesI 50
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 FY25End FY25
Cash and savingsLn 1–2$176K$44K
Total assetsLn 16$176K$44K
LiabilitiesLn 26$0$0
Net assetsLn 32$176K$44K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$0$0
Pay of disqualified personsLn 6$0$0
Other salaries and wagesLn 7$0$0
Pension plan contributionsLn 8$0$0
Other employee benefitsLn 9$0$0
Payroll taxesLn 10$0$0
Management feesLn 11a$503K$503K
Legal feesLn 11b$0$0
Accounting feesLn 11c$0$0
Lobbying feesLn 11d$0$0
Investment management feesLn 11f$0$0
Other fees for servicesLn 11g$18K$18K
Advertising and promotionLn 12$0$0
Office expensesLn 13$31K$31K
Information technologyLn 14$15K$15K
OccupancyLn 16$0
TravelLn 17$64K$64K
Total functional expensesLn 25$631K$631K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Mar 9, 2026 $499K$631K−$132K$44K 990 PDF
FY2024Filed with the IRS Mar 10, 2025 $451K$306K$144K$176K 990 PDF
FY2023Filed with the IRS Feb 27, 2024 $181K$10K 990 PDF
FY2022Filed with the IRS Apr 24, 2023 $198K$20K 990 PDF
FY2021Filed with the IRS May 16, 2022 $169K$108K 990 PDF
FY2020Filed with the IRS Mar 9, 2021 $183K$57K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $498,805 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $450,621$489,917
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$8,888
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $450,621$498,805
I-13 Grants and similar amounts paidPrior year $228,333$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $77,793$630,983
I-18 Total expensesPrior year $306,126$630,983
I-19 Revenue less expensesPrior year $144,495−$132,178
Part VI · Governance 2 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
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 $498,805 across 11 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$489,917
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$489,917
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $8,888$8,888
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $8,888$498,805
Part IX · Statement of functional expenses $630,983 across 19 lines filed
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0$0
IX-6 Pay of disqualified personsPrograms $0$0
IX-7 Other salaries and wagesPrograms $0$0
IX-8 Pension plan contributionsPrograms $0$0
IX-9 Other employee benefitsPrograms $0$0
IX-10 Payroll taxesPrograms $0$0
IX-11a Management feesPrograms $502,708$502,708
IX-11b Legal feesPrograms $0$0
IX-11c Accounting feesPrograms $0$0
IX-11d Lobbying feesPrograms $0$0
IX-11f Investment management feesPrograms $0$0
IX-11g Other fees for servicesPrograms $18,177$18,177
IX-12 Advertising and promotionPrograms $0$0
IX-13 Office expensesPrograms $30,771$30,771
IX-14 Information technologyPrograms $15,377$15,377
IX-16 Occupancy$0
IX-17 TravelPrograms $63,950$63,950
IX-25 Total functional expensesPrograms $630,983 · Management $0 · Fundraising $0$630,983
Part X · Balance sheet $43,822 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $176,000$43,822
X-16 Total assetsStart of year $176,000$43,822
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $176,000$43,822
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $176,000$43,822
X-33 Total liabilities and net assetsStart of year $176,000$43,822
Part XI · Reconciliation of net assets $43,822 net assets at year end
XI-1 Total revenue$498,805
XI-2 Total expenses$630,983
XI-3 Revenue less expenses−$132,178
XI-4 Net assets at start of year$176,000
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$43,822

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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