TANZANIA WESLEY EDUCATION FOUNDATI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2016

Legal Domicile

Principal Officer

EDWARD L FRANKLIN

Phone

5019125922

Tax Period

2024-01-01 to 2024-12-31

TANZANIA WESLEY EDUCATION FOUNDATION, founded in 2016, is a small nonprofit in the International Affairs sector that reported $493K in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year.

Mission

THE FOUNDATION EXISTS TO SUPPORT EDUCATION ENDEVORS IN TANZANIA THAT STRIVE TO BUILD THE CAPACITY OF THE COMMUNITY AND METHODIST RELATED EDUCATIONAL INSTITUTIONS.

Program Service Accomplishments

Program 1

Expenses: $299,398

SUPPORT FOR THE MINISTRY OF WESLEY COLLEGE IN MWANZA, TANZANIA. INCLUDES THEOLOGY AND CERTIFICATE SCHOLARSHIP FUNDING FOR STUDENTS, RENOVATION COSTS FOR EDUCATIONAL FACILITIES, STAFF SALARIES, WESLEY COLLEGE EXPENSES, PERMANENT SITE PLANNING COSTS, CLASSROOM OUTFITTING, STIPEND/EXPENSE REIMBURSEMENTS FOR INDIVIDUAL VOLUNTEERS, AND ACCREDITATION/REGISTRATIONS COSTS.

Program 2

Expenses: $45,161

SUPPORT FOR THE MINISTRY ACTIVITIES OF QUAD W MISSIONAL OUTREACH IN TARIME, TANZANIA. INCLUDES SPREADING THE GOSPEL OF JESUS CHRIST, PLANTING HOME CHURCHES, AND ASSISTING LOCAL CHURCHES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $493,248

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $493,248

Expense Breakdown

Grants Paid $303,726

Salaries & Benefits $124,210

Fundraising Expenses $0

Program Expenses $344,559

Other Expenses $55,897

TOTAL EXPENSES $483,833

Year-over-Year Comparison

	2024	2023	Change
Revenue	$493,248	$564,358	-0.1%
Expenses	$483,833	$548,722	-0.1%
Net Income	$9,415	$15,636	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

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

$92,107

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC SOARD	EXECUTIVE DIRECTOR	040.00	Officer	$81,450	$10,657	$92,107
DR EDWARD FRANKLIN	PRESIDENT	002.00	Officer Director	$0	$0	$0
PETER SAMSURY	DIRECTOR	002.00	Director	$0	$0	$0
PHIL YATES	DIRECTOR	002.00	Director	$0	$0	$0
BENITO LUBAZIBWA	DIRECTOR	002.00	Director	$0	$0	$0
KRISTI MCCLELLAN	DIRECTOR	002.00	Officer Director	$0	$0	$0
MARK SCHNARR	DIRECTOR	002.00	Director	$0	$0	$0
DR KENNETH SCHWAB	DIRECTOR	002.00	Officer Director	$0	$0	$0
KIMBERLY WATSON	DIRECTOR	002.00	Director	$0	$0	$0
DR JADE CARTER	DIRECTOR	002.00	Director	$0	$0	$0
DR JOHN WAYNE SMITH	DIRECTOR	002.00	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	$493,248	$483,833	$46,033	$9,415
2023	$564,358	$548,722	$36,618	$15,636
2022	$379,571	$432,971	$20,982	$-53,400
2021	$459,201	$486,698	$74,382	$-27,497
2020	$308,857	$292,772	$101,879	$16,085

TANZANIA WESLEY EDUCATION FOUNDATION