Welead EIN 47-2873226 Form 990 (PDF) Claim this org

Welead FY2023 filing

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Promotes cultural understanding by exhibiting West African culture to underserved communities. For fiscal year 2023 it reported $702K in revenue, $704K in expenses, and $9K in net assets.Pt I

Type
Public charity (501(c)(3)) · Youth Development
Location
Houston, TX
Website
www.weleadinternational.com
Filings
4 on file (2022–2023)
Revenue
$702KFY2023
Expenses
$704K
Net assets
$9K
People
4
Filings
4
Updates
0
More identity details & actions ⌄
EIN  47-2873226 Public charity (501(c)(3)) Houston, TX
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Promotes cultural understanding by exhibiting West African culture to underserved communities.
Leadership
Clementina Amadi · Board of Director - Secretary
Money in and out
$702K revenue, $704K expenses
Bottom line
95% program efficiency
Where the money goes · FY2023
Total revenue
$702K
Pt VIII · Ln 12
Total expenses
$704K
Pt IX · Ln 25
Net assets
$9K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$2K
Where spending went · Part IX cols B–D
Program services $0.95 Management & general $0.05 Fundraising $0.00
Program efficiency
95%
of spending reaches programs
Operating runway
0.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
-0.3%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$702K
FY2023▲ +385%
Expenses
$704K
FY2023
Total assets
$9K
FY2023
Total liabilities
$0
FY2023
Total revenue
$702K
Pt VIII · Ln 12
Total expenses
$704K
Pt IX · Ln 25
Net assets
$9K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$2K
Total assetsPt X · Ln 16$9K
Program-expense ratioPt IX · col B95%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

3 program services account for $164K of program spending, described in the organization's own filed words · FY2023.
01

AU Ambassadors Ball and the Diaspora Business Roundtable provided access to key information to support economic development with small medium enterprises. Provided a forum to network and support bilateral trade with Africa and the United States.

$127Kprogram expense
02

Nigeria Cultural Parade & Festival to support cultural understanding and educate communities on West African communities through performing arts, traditions, and exhibitions. A minimum of 3,000 individuals benefitted from the program and promoted tourism to the City of Houston.

$32Kprogram expense
03

Nigeria Masquerade Exhibition to support cultural understanding and educate communities on West African culture through performing marts, traditions, and exhibitions. A minimum of 500 individuals including local artists benefitted from the program and promoted tourism to the City of Houston.

$5Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWelead
EINHdr · item D47-2873226
Principal addressHdr · item CHouston, TX
WebsiteHdr · item Jwww.weleadinternational.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFYouth Development (O50)
Ruling yearIRS BMFFeb 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Board of Director - Secretary
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
Board of Director
$0Pt VII · Sec A
Board of Director
$0Pt VII · Sec A
See Welead executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$693K · 99%
Program service revenue$9K · 1%
Contributions & grants99%$693K
Program service revenue1%$9K
Total revenueLn 12$702K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.95 Management & general $0.05 Fundraising $0.00
Program services95%$669K
Management & general5%$34K
Fundraising$964
Total functional expensesLn 25$704K

Balance Sheet

Part X · end of year
CashLn 1$9K
Total assetsLn 16$9K
Total liabilitiesLn 26$0
Total net assetsLn 32$9K
Months of cash on handcomputed0.2

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $9K · Operating expenses/yr $704K
0.2 months
Where the money goes
Program services
Program services $669K · Total expenses $704K
95%
Management & General
Management & general $34K · Total expenses $704K
5%
Fundraising
Fundraising $964 · Total expenses $704K
0.1%
Cost to raise $1
Fundraising expense $964 · Solicited contributions $693K
$0.00 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $693K · Total revenue $702K
99%
Government reliance
Government grants $0 · Total revenue $702K
0%
Earned-income share
Program service revenue $9K · Total revenue $702K
1%
Investment reliance
Investment income $0 · Total revenue $702K
0%
Program self-sufficiency
Program service revenue $9K · Total expenses $704K
1%
Growth & trend
Revenue growth (YoY)
This year $702K · Prior year $145K
+385%
Net-asset trend (YoY)
End of year $9K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $702K · Expenses $704K
-0.3%
Liabilities-to-Assets
Total liabilities — · Total assets $9K
Net-asset ratio
Net assets $9K · Total assets $9K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $9K
0%
People & payroll
Highest Reported Total Compensation
Individual Clementina Amadi · Reported title Board of Director - Secretary · Highest reported compensation $0 · Total expenses $704K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $704K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 95%
Overhead ratio 5%
Fundraising cost ratio 0.1%
Revenue growth 385%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2021
Total grants receivedfrom 1 funder$10K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$129K revenue · ⤓ 990 PDF
FY2024$79K revenue · ⤓ 990 PDF
FY2023$702K revenue · viewing · ⤓ 990 PDF
FY2022$145K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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