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Tesfa Foundation FY2022 filing

Tax-deductible

Minneapolis, MN501(c)(3)Since 2004EducationEIN 75-3168235

The tesfa foundation strengthens families and communities in ethiopia by building, supplying, and operating kindergartens and primary schools; by training teachers, and by providing opportunities for youth through sport for development.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $5K a year · 3% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
19 mo
of spending, in cash
Looks good: 18.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $29K
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
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$264K
+155% vs prior year
Spent
$154K
To programs
99%
Net assets
$241K
By yearFY2020–FY2024
Revenue
$264K
FY2022▲ +155%
Revenue by fiscal year
FY2020$212K
FY2021$104K
FY2022$264K
FY2023$77K
FY2024$88K
FY2024$244K
Expenses
$154K
FY2022▲ +34%
Expenses by fiscal year
FY2020$112K
FY2021$115K
FY2022$154K
FY2023$198K
FY2024$190K
FY2024$165K
Net assets
$241K
FY2022▲ +83%
Net assets by fiscal year
FY2020$143K
FY2021$132K
FY2022$241K
FY2023$120K
FY2024$18K
FY2024$97K

From the FY2022 Form 990 (year ending June 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2006.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $153K Management & general 1% · $1K

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

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Scott Wolf
Treasurer
$0Pt VII · Sec A
Lizbeth Moss
Secretary
$0Pt VII · Sec A
Julie Corby
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Lacey Yantis
Director
$0Pt VII · Sec A
See Tesfa Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds and operates schools, trains teachers, and uses sports to empower Ethiopian youth.

Provided by the organization

This section is blank until Tesfa Foundation claims this page.

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1 program service account for $153K of program spending, described in the organization's own filed words · FY2021.
01

Tesfa foundation works primarily in the southern nations, nationalities, and peoples' region (SNNPR) of ethiopia in the zone of kembata-tembaro (population 680,837), serving three communities: kololo, fundame, and azedebo. We currently serve 750 students in PRESCHOOL/KINDERGARTEN through 4TH grade.

$153Kprogram expense

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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
Fidelity Investments Charitable Gift FundFY2024$21K
Evelyn E and Richard J Gunst FoundationFY2024$8K
Total grants receivedfrom 2 funders$29K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$264K
Ln 12
Gifts and grantsLn 1h$267K
Money outPt IX
$154K
Ln 25
Programscol B$153K
Managementcol C$1K
Owns and owesPt X
$241K
net assets · Ln 32
Cash and savingsLn 1–2$241K
Total assetsLn 16$241K
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$267K
Total revenueLn 12$264K
Assets in detailPt X, end of year
CashLn 1$241K
Cash and savings togetherLn 1–2$241K
Total assetsLn 16$241K
LiabilitiesLn 26$0
Net assetsLn 32$241K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$132K$241K
Total assetsLn 16$132K$241K
LiabilitiesLn 26$0$0
Net assetsLn 32$132K$241K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$149K$149K
Accounting feesLn 11c$650$650
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$687$687
Other expenses (24a–d)Ln 24$118$118
Total functional expensesLn 25$154K$153K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $88K$190K−$102K$18K 990 PDF
FY2023 $77K$198K−$121K$120K 990 PDF
FY2022 Viewing $264K$154K$109K$241K 990 PDF
FY2021 $104K$115K−$11K$132K 990 PDF
FY2020 $212K$112K$99K$143K 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $263,847 across 4 lines filed
VIII-1f All other contributions, gifts and grants$267,208
VIII-1h Total contributions, gifts and grants$267,208
VIII-8 Net income from fundraising eventsExcluded from tax −$3,361−$3,361
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$3,361$263,847
Part IX · Statement of functional expenses $154,437 across 5 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $148,599$148,599
IX-11c Accounting feesManagement $650$650
IX-12 Advertising and promotionPrograms $4,383$4,383
IX-13 Office expensesManagement $687$687
IX-24 Other expenses (24a–d)Programs $118$118
IX-25 Total functional expensesPrograms $153,100 · Management $1,337 · Fundraising $0$154,437
Part X · Balance sheet $240,996 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $131,586$240,996
X-16 Total assetsStart of year $131,586$240,996
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $131,586$240,996
X-32 Total net assets or fund balancesStart of year $131,586$240,996
X-33 Total liabilities and net assetsStart of year $131,586$240,996
Part XI · Reconciliation of net assets $240,996 net assets at year end
XI-1 Total revenue$263,847
XI-2 Total expenses$154,437
XI-3 Revenue less expenses$109,410
XI-4 Net assets at start of year$131,586
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$240,996

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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