SMALL ENTERPRISE ASSISTANCE FUNDS

EIN: 133535334 501(c)(3) Community Improvement

WASHINGTON, DC

Total Revenue
$8,459,646
Total Expenses
$9,697,385
Total Assets
$38,248,042
Net Assets
$4,245,264
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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
NY
Principal Officer
ROBERT VODICKA
Phone
2027378463
Tax Period
2023-01-01 to 2023-12-31

SMALL ENTERPRISE ASSISTANCE FUNDS, founded in 1989, is a community nonprofit in the Community Improvement sector that reported $8.5M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Expenses of $9.7M exceeded revenue, resulting in a 15% operating deficit.

Mission

SEAF'S MISSION IS IMPROVING LIVES AND COMMUNITIES THROUGH ENTREPRENEUR-LED DEVELOPMENT.

Program Service Accomplishments

Program 1
Expenses: $7,638,538 Revenue: $3,260,706

THE SMALL ENTERPRISE ASSISTANCE FUNDS ON SEPTEMBER 1ST, 2015 ENTERED INTO A COOPERATIVE AGREEMENT FOR $3,898,099 WITH THE UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT TO ESTABLISH AN INVESTMENT...

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THE SMALL ENTERPRISE ASSISTANCE FUNDS ON SEPTEMBER 1ST, 2015 ENTERED INTO A COOPERATIVE AGREEMENT FOR $3,898,099 WITH THE UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT TO ESTABLISH AN INVESTMENT MANAGEMENT COMPANY (IM) TO SUPPORT THE START- UP INVESTMENT ECOSYSTEM IN MOROCCO. AS PART OF THE PROGRAM ACTIVITIES, SEAF AGREED TO ESTABLISH AN IM AS A NEW WHOLLY OWNED SUBSIDIARY OF SEAF AND USE THE GRANT FUNDS TO MAKE PERIODIC CONTRIBUTIONS TO THE IM IN EXCHANGE FOR BEING ISSUED EQUITY INTERESTS IN THE IM.

Program 2

COLOMBIA AGRIBUSINESS : THE SMALL ENTERPRISE ASSISTANCE FUNDS ON MARCH 19TH, 2015 WAS AWARDED A $2,795,500 FROM THE UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT COLOMBIA MISSION TO ESTABLISH AN...

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COLOMBIA AGRIBUSINESS : THE SMALL ENTERPRISE ASSISTANCE FUNDS ON MARCH 19TH, 2015 WAS AWARDED A $2,795,500 FROM THE UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT COLOMBIA MISSION TO ESTABLISH AN AGRIBUSINESS FUND WITH THE GOAL OF REALIZING SUSTAINABLE IMPACT THROUGH INVESTMENT AND DEVELOPMENT ACTIVITIES.

Program 3

TANZANIA - ON SEPTEMBER 29, 2014, SEAF SIGNED AN AGREEMENT WITH USDA FOR THE FOOD FOR PROGRESS GRANT, FOCUSED ON THE COUNTRY OF TANZANIA. SEAF RECEIVED FUNDS THROUGH CCC AND MONETIZATION PROCEEDS...

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TANZANIA - ON SEPTEMBER 29, 2014, SEAF SIGNED AN AGREEMENT WITH USDA FOR THE FOOD FOR PROGRESS GRANT, FOCUSED ON THE COUNTRY OF TANZANIA. SEAF RECEIVED FUNDS THROUGH CCC AND MONETIZATION PROCEEDS. DURING 2015, SEAF MONETIZED THE FIRST 12,000 MT OF WHEAT. DURING 2016, SEAF MONETIZED 11,000 MT OF WHEAT. DURING 2017, SEAF MADE INVESTMENTS OF $2,000,000 INTO PORTFOLIO COMPANIES IN THE TANZANIA REGION. DURING 2019, SEAF MADE INVESTMENTS OF $1,150,000 INTO PORTFOLIO COMPANIES IN THE TANZANIA REGION. THE TOTAL CARRYING VALUE OF THE INVESTMENTS AS OF DECEMBER 31, 2023 AND 2022 WAS $725,081 AND $800,261 RESPECTIVELY.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,497,486
Program Service Revenue $2,975,136
Investment Income $1,701,454
Other Revenue $285,570
TOTAL REVENUE $8,459,646

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,838,328
Fundraising Expenses $0
Program Expenses $7,638,538
Other Expenses $5,859,057
TOTAL EXPENSES $9,697,385

Year-over-Year Comparison

2023 2022 Change
Revenue $8,459,646 $9,245,371 -0.1%
Expenses $9,697,385 $9,920,170 0.0%
Net Income $-1,237,739 $-674,799 +0.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
10
Independent Members
6
Employees
16
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$338,930
Total Directors
10
$338,930
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAVED HAMID CHAIRMAN 1.00
Officer Director
$0 $0 $0
ROBERT VODICKA TREASURER 40.00
Highest
$210,000 $10,000 $220,000
GARY DODGE MANAGING DIRECTOR 40.00
Highest
$169,257 $7,238 $176,495
PETER RIGHI CEED GLOBAL DIRECTOR 40.00
Highest
$210,332 $10,016 $220,348
JAN CHERIM DIRECTOR 40.00
Director
$0 $0 $0
TOM MONACO DIRECTOR 40.00
Director
$0 $0 $0
PAUL SHEEHAN DIRECTOR 40.00
Director
$0 $0 $0
HUBERTUS VAN DER VAART PRESIDENT 40.00
Officer Director
$323,930 $15,000 $338,930
ALPHONSUS MARCELIS DIRECTOR 1.00
Director
$0 $0 $0
YASMIN SAADAT DIRECTOR 1.00
Director
$0 $0 $0
OSCAR CASTANEDA DIRECTOR 1.00
Director
$0 $0 $0
TERRY WYER DIRECTOR 1.00
Director
$0 $0 $0
CHRISTINE PHILLPOTTS DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $8,459,646 $9,697,385 $38,248,042 $-1,237,739
2022 $9,245,371 $9,920,170 $32,275,711 $-674,799
2021 $7,370,545 $12,346,481 $28,992,255 $-4,975,936
2020 $16,834,731 $14,220,339 $27,402,027 $2,614,392
2019 $19,819,356 $17,100,835 $24,449,123 $2,718,521
2018 $21,762,030 $14,775,388 $27,640,431 $6,986,642
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