SOUTHERN AFRICA ENTERPRISE DEVELOPMENT FUND INC

Address
1ST FLOOR 33 BALLYCLARE DRIVE
BRYANSTON GAUTENG SOUT, FO 2169
SF
Contact
Website: http://www.saedf.org.za
Phone: +1 (271) 136-7091
Nonprofit
NTEE: Q32 - International Economic Development
EIN: 58-2154593

Mission

THE SOUTHERN AFRICA ENTERPRISE DEVELOPMENT FUND (SAEDF) IS A NON-PROFIT ORGANIZATION, INCORPORATED IN THE STATE OF DELAWARE AND HAVING CORPORATE OFFICES LOCATED IN ATLANTA, GEORGIA AND JOHANNESBURG, REPUBLIC OF SOUTH AFRICA. SAEDF WAS ESTABLISHED IN OCTOBER 1994 ON THE INITIATIVE OF THE PRESIDENT OF THE UNITED STATES AND THE U.S. CONGRESS FOR THE SPECIFIC PURPOSE OF ENCOURAGING PRIVATE-SECTOR DEVELOPMENT IN THE SOUTHERN AFRICAN REGION.
 201220112010
Basic features of the organization
Year of formation1994
Subsection code03
Form of organization
CorporationTrue
Metropolitan statistical area0520
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel $16,000.00 
Sum of reportable (W2/1099) compensation$0.00$165,000.00 
Number of employees03 
Number of people compensated >$100k01 
Number of volunteers32 
Personnel
Emerson, Peter
TitleCHAIR OF ETHICS & GOV. RELCHAIR OF ETHICS & GOV. REL 
Name of key/compensated personPETER EMERSONPETER EMERSON 
Position of compensated person
Current individual trustee or directorTrueTrue 
Current officerTrueTrue 
Average hours per week working for org2.502.50 
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Green, Ernest
TitleDIRECTOR  
Name of key/compensated personERNEST GREEN  
Position of compensated person
Current individual trustee or directorTrue  
Average hours per week working for org0.50  
Reportable compensation from org$0.00  
Other comp, non-reportable, from org and related orgs$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00  
Masters, Carlton
TitleCHAIRDPTY CHAIR & CHAIR OF AUD. 
Name of key/compensated personAMBASSADOR CARLTON MASTERSAMBASSADOR CARLTON MASTERS 
Position of compensated person
Current individual trustee or directorTrueTrue 
Current officerTrueTrue 
Average hours per week working for org15.0015.00 
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Qua-Enoo, Emmanuel
Title CHIEF FINANCIAL OFFICER 
Name of key/compensated person EMMANUEL QUA-ENOO 
Position of compensated person
Current officer True 
Average hours per week working for org 40.00 
Reportable compensation from org $165,000.00 
Other comp, non-reportable, from org and related orgs $0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00 
Sandza, Elizabeth
TitleSECRETARY  
Name of key/compensated personELIZABETH SANDZA  
Position of compensated person
Current officerTrue  
Average hours per week working for org2.50  
Reportable compensation from org$0.00  
Other comp, non-reportable, from org and related orgs$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00  
Purpose: mission, activities, & accomplishments
Mission or significant activitiesSEE PART III, LINE 1.SEE PART III, LINE 1. 
Program service expenses, total$1,504,398.00$4,872,856.00 
Programs, including revenue & expenses
SAEDF'S STRATEGIC OBJECTIVE IS TO EXPAND SOUTHERN AFRICAN BUSINESS DEVELOPMENT AND OWNERSHIP THROUGH EQUITY INVESTMENTS AND LOANS, PRIMARILY IN SMALL AND MEDIUM SIZED BUSINESS IN THE SOUTHERN AFRICAN REGION. SAEDF PROVIDES ASSISTANCE TO BUSINESSES THROUGH DIRECT INVESTMENTS AND LOANS TO QUALIFIED PRIVATE, COMMERCIALLY PROMISING ENTERPRISES AND ALSO COINVESTS WITH OTHER INSTITUTIONS OR ORGANIZATIONS THAT SHARE THE SAME INVESTMENT OBJECTIVES.
Program expenses $4,872,856.00 
Program revenue $1,189,742.00 
Program description SAEDF'S STRATEGIC OBJECTIVE IS TO EXPAND SOUTHERN AFRICAN BUSINESS DEVELOPMENT AND OWNERSHIP THROUGH EQUITY INVESTMENTS AND LOANS, PRIMARILY IN SMALL AND MEDIUM SIZED BUSINESS IN THE SOUTHERN AFRICAN REGION. SAEDF PROVIDES ASSISTANCE TO BUSINESSES THROUGH DIRECT INVESTMENTS AND LOANS TO QUALIFIED PRIVATE, COMMERCIALLY PROMISING ENTERPRISES AND ALSO COINVESTS WITH OTHER INSTITUTIONS OR ORGANIZATIONS THAT SHARE THE SAME INVESTMENT OBJECTIVES. 
SAEDF'S STRATEGIC OBJECTIVE IS TO EXPAND SOUTHERN AFRICAN BUSINESS DEVELOPMENT AND OWNERSHIP THROUGH EQUITY INVESTMENTS AND LOANS, PRIMARILY IN SMALL AND MEDIUM SIZED BUSINESS IN THE SOUTHERN AFRICAN REGION. THE CURRENT GRANT AGREEMENT WITH THE UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT (USAID) EXPIRED ON SEPTEMBER 30, 2010, AND WAS EXTENDED THROUGH SEPTEMBER 30, 2013. ON AUGUST 19, 2011, USAID ISSUED A LETTER WHICH ADVISED SAEDF TO BEGIN THE PROCESS OF LIQUIDATING ITS REMAINING ASSETS AND WINDING UP THE ABOVE-MENTIONED GRANT AGREEMENT.
Program expenses$1,504,398.00  
Program revenue$2,321,214.00  
Program descriptionSAEDF'S STRATEGIC OBJECTIVE IS TO EXPAND SOUTHERN AFRICAN BUSINESS DEVELOPMENT AND OWNERSHIP THROUGH EQUITY INVESTMENTS AND LOANS, PRIMARILY IN SMALL AND MEDIUM SIZED BUSINESS IN THE SOUTHERN AFRICAN REGION. THE CURRENT GRANT AGREEMENT WITH THE UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT (USAID) EXPIRED ON SEPTEMBER 30, 2010, AND WAS EXTENDED THROUGH SEPTEMBER 30, 2013. ON AUGUST 19, 2011, USAID ISSUED A LETTER WHICH ADVISED SAEDF TO BEGIN THE PROCESS OF LIQUIDATING ITS REMAINING ASSETS AND WINDING UP THE ABOVE-MENTIONED GRANT AGREEMENT.  
Financial data
Revenue
Total revenue$2,370,262.00$1,324,748.00 
Revenue from contributions (total)$0.00$0.00$5,305,970.00
Investment income, current yr$3,880.00$43,868.00 
Total revenue from grants, etc., current yr$0.00$0.00 
Total unrelated business revenue$0.00$0.00 
Other revenue, current yr$45,168.00$91,138.00 
Net unrelated business taxable revenue$0.00$0.00 
Program service revenue (total)$2,321,214.00$1,189,742.00$2,369,991.00
Other types of revenue
Investment income$3,880.00$43,868.00 
Net rental income$45,168.00$91,138.00$0.00
Expense categories (totals)
Total functional expenses: sum of all$1,504,398.00$4,872,856.00 
Total functional expenses: program service $1,504,398.00$4,872,856.00 
Total functional expenses: management and general$0.00$0.00 
Total functional expenses: fundraising$0.00$0.00 
Fees for services
Legal fees (total)$796,292.00$835,118.00 
Fundraising service fees (total)$0.00$0.00 
Investment management fees (total)$208,333.00$2,500,000.00 
Assets and liabilities
Total assets$20,649,806.00$35,723,121.00$49,538,470.00
Total assets, beginning of year$35,723,121.00$49,538,470.00 
Total liabilities$2,397,876.00$785,326.00$1,588,869.00
Total liabilities, beginning of year$785,326.00$1,588,869.00 
Unrestricted net assets, end of yr$18,251,930.00$34,937,795.00 
Net assets$18,251,930.00$34,937,795.00 
Net assets, beginning of year$34,937,795.00$47,949,601.00 
Other assets$124,114.00  
Cash: non-interest bearing$4,293.00$4,222.00 
Cash: non-interest bearing, beginning of year$4,222.00$13,423.00 
Investments -- program-related$17,223,402.00$32,334,768.00 
Loans and other payables to key persons$958,730.00  
Other financial variables
Revenue less expenses$865,864.00-$3,548,108.00 
Advertising (total)$15,000.00$933.00 
Savings & temp cash investment$238,173.00$293,982.00 
Accounts receivable, net$1,755,840.00$1,771,251.00 
Prepaid expenses & deferred charges$69,786.00$36,303.00 
Accounts payable & accrued expenses$1,296,632.00$785,326.00 
Unsecured notes & loans to unrelated parties$142,514.00  
Total net assets or fund balances$18,251,930.00$34,937,795.00 
Depreciation, depletion, amortization$48,398.00$48,398.00 
Governance and accountability
Number of voting members32 
Number of independent voting members32 
Financial sheets were auditedTrueTrue 
Diversion of assetsTrue  
Relationships among key personnel True 
Accrual accountingTrueTrue 
Tax year start date2011-10-012010-10-01 
Tax year end date2012-09-012011-09-012010-09-01
Indicators for schedules (selected)
Outstanding loan to key person or disqualified personTrue  
Business transaction with entity ownerTrueTrue 
Org has controlled entityTrueTrue 
Org transacted with controlled entity True 
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990 
Reason for form submission
Amended returnTrueTrue 
IRS schema version2011v1.52010v3.4 
Filing identifier201301219349300030201321219349300227 
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