Averroes Project EIN 85-4283602

Averroes Project

EIN  85-4283602 Public charity (501(c)(3)) San Jose, CA
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Promotes diversity and student exchange programs with European NGOs.
Leadership
Emad Afifi · President
Money in and out
$280K revenue, $58K expenses
Bottom line
0% program efficiency

Promotes diversity and student exchange programs with European NGOs. For fiscal year 2024 it reported $280K in revenue, $58K in expenses, and $1.4M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$280K
Pt VIII · Ln 12
Total expenses
$58K
Pt IX · Ln 25
Net assets
$1.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $222K
Where spending went · Part IX cols B–D
Management & general $1.00
Program efficiency
0%
of spending reaches programs▼ -100% vs prior filing year
Operating runway
294.8mo
months of highly liquid reserves at operating expense rate▲ +87% vs prior filing year
Surplus margin
+79%
revenue over expenses, this year▲ +46% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$280K
FY2024▲ +54%
Expenses
$58K
FY2024▼ -30%
Total assets
$1.4M
FY2024▲ +30%
Total liabilities
$0
FY2024▼ -100%
Total revenue
$280K
Pt VIII · Ln 12
Total expenses
$58K
Pt IX · Ln 25
Net assets
$1.4M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$222K
Total assetsPt X · Ln 16$1.4M
Program-expense ratioPt IX · col B0%
Voting members of governing bodyPt I · Ln 32
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2024.
01

The organization continued its activities towards its tax exempt purpose.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAverroes Project
EINHdr · item D85-4283602
Principal addressHdr · item CSan Jose, CA
WebsiteHdr · item Jwww.averroesfoundation.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B90)
Ruling yearIRS BMFAug 2021

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a2
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
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
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$220K · 79%
Investment income$60K · 21%
Contributions & grants79%$220K
Investment income21%$60K
Total revenueLn 12$280K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Management & general $1.00
Management & general100%$58K
Total functional expensesLn 25$58K

Balance Sheet

Part X · end of year
CashLn 1$555K
Total assetsLn 16$1.4M
Total liabilitiesLn 26$0
Total net assetsLn 32$1.4M
Months of cash on handcomputed115.2

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.4M · Operating expenses/yr $58K
294.8 months
Where the money goes
Program services
Program services $0 · Total expenses $58K
0%
Management & General
Management & general $58K · Total expenses $58K
100%
Fundraising
Fundraising $0 · Total expenses $58K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $17K · Solicited contributions (3-yr avg) $163K
$0.11 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $220K · Total revenue $280K
79%
Government reliance
Government grants — · Total revenue $280K
Earned-income share
Program service revenue $0 · Total revenue $280K
0%
Investment reliance
Investment income $60K · Total revenue $280K
+21%
Program self-sufficiency
Program service revenue $0 · Total expenses $58K
0%
Growth & trend
Revenue growth (YoY)
This year $280K · Prior year $182K
+54%
Revenue CAGR
FY2020 $768K · FY2024 $280K
-22%
Net-asset trend (YoY)
End of year $1.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $280K · Expenses $58K
+79%
Liabilities-to-Assets
Total liabilities — · Total assets $1.4M
Net-asset ratio
Net assets $1.4M · Total assets $1.4M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $864K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.4M
61%
People & payroll
Highest Reported Total Compensation
Individual Emad Afifi · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $58K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $58K
Peer comparison

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

MetricThis orgPeer medianPercentile
Overhead ratio 100%
Fundraising cost ratio 0%
Revenue growth 54%
Investment management fee ratio 2%
Accounting fee ratio 4%

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.

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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
FY2024 (Latest)$280K revenue · viewing · ⤓ 990 PDF
FY2023$182K revenue · ⤓ 990 PDF
FY2022$100K revenue · ⤓ 990 PDF
FY2021$373K revenue · ⤓ 990 PDF
FY2020$768K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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