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Impact Africa Network INC FY2023 filing

Tax-deductible

San Jose, CA501(c)(3)EmploymentEIN 83-2020331Revenue $664K in FY2023

On file with the IRS1887 Hamilton Ave, 95125-5665 · San Jose, CATax-exempt since Mar 2019Publicly supported charity — 170(b)(1)(A)(vi)

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Ensuring young talented Africans participate in the digital transformation of Africa as creators and owners.

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

Before you give

FY2023 · 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
4 of 4
filings with a surplus
Average surplus $85K a year · 14% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
3%
of spending
Concern: 3% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $941K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$5K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$664K
+20% vs prior year
Spent
$571K
To programs
3%
Net assets
$373K
By yearFY2019–FY2024
Revenue
$664K
FY2023▲ +20%
Tap a bar for its year
Revenue by fiscal year
FY2019$42K
FY2020$183K
FY2021$463K
FY2022$553K
FY2023$664K
FY2024$703K
Expenses
$571K
FY2023▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2019Not on file
FY2020Not on file
FY2021$459K
FY2022$545K
FY2023$571K
FY2024$468K
Net assets
$373K
FY2023▲ +91%
Tap a bar for its year
Net assets by fiscal year
FY2019$16K
FY2020$202K
FY2021$9K
FY2022$195K
FY2023$373K
FY2024$607K

From the FY2023 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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 Mar 2019.

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

Where the money goes

3 cents of each dollar spent went to programs.

Program services 3% · $19K Management & general 97% · $552K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Mark Karake’s $4K as CEO is at the 8th percentile of top reported officer pay among 1217 $100K–1M employment 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 · 1 named individual · Part VII

NameFY2020FY2019
Mark Karake$4,000$4,000

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 Impact Africa Network 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 15aNo

Programs and updates

Empowering young Africans to lead Africa's digital future as creators and owners.

Questions for Impact Africa Network INC

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Provided by the organization

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2 programs · $39K · in their own filed words · FY2023
01

Direct Public Support

Individual contribution, donations and contribution, fundraising and sponsership

$19Kprogram expense
02

Direct Public Support

Individual contribution, donations and contribution, fundraising and sponsership

$19Kprogram 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
Greater HorizonsFY2024$301K
I-Rise FoundationFY2024$300K
Gs Donor Advised Philanthropy Fund for Wealth Management INCFY2024$200K
National Philanthropic TrustFY2024$90K
Fidelity Investments Charitable Gift FundFY2024$50K
Total grants receivedfrom 5 funders$941K
See all 5 funders →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$664K
Ln 12
Gifts and grantsLn 1h$662K
Other incomeLn 4–11$2K
Money outPt IX
$571K
Ln 25
Programscol B$19K
Managementcol C$552K
Owns and owesPt X
$373K
net assets · Ln 32
Cash and savingsLn 1–2$47K
Total assetsLn 16$378K
LiabilitiesLn 26$5K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$662K
Other incomeLn 4–11$2K
Total revenueLn 12$664K
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$47K
Total assetsLn 16$378K
LiabilitiesLn 26$5K
Net assetsLn 32$373K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $703K$468K$235K$607K 990 PDF
FY2023 Viewing $664K$571K$93K$373K 990 PDF
FY2022 $553K$545K$9K$195K 990 PDF
FY2021 $463K$459K$4K$9K 990 PDF
FY2020 $183K$202K 990 PDF
FY2019 $42K$16K 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 FY2023 990 (1 part)
Part VI · Governance 0 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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