Fonkoze USA is dedicated to securing financial and technical support for its Haitian partners: Fondayson Kole Zepol (the Foundation) and Sevis Finansye Fonkoze, S.A. (Microfinance institution). The organization educates the American public about Fonkoze?s work in Haiti, facilitates technical assistance for the two Haitian entities, and raises money to support Fonkoze?s programs. Fonkoze USA also acts as a channel for socially responsible investors who want to ?invest? in Fonkoze?s loan fund by lending their money at subsidized interest rates. The organization reports that hundred of thousands of poor and disenfranchised Haitians across the country are being equipped with tools, resources, and support needed to break the cycle of poverty, including: access to financial and health services, and education; literacy, life, and business skills training; ultra-poverty alleviation support; and disaster preparedness resources and training.
For the year ended December 31, 2019, Fonkoze USA's program expenses were:
Grants |
$880,838 |
Technical assistance |
$440,069 |
Education |
$230,827 |
Total Program Expenses: |
$1,551,734 |
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Chief Executive
Mabel Valdivia-Diaz, Executive Director
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Compensation*
$181,500
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Chair of the Board
Laura Stephens
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Chair's Profession / Business Affiliation
Financial and Property Manager, Main Street Realty
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Board Size
18
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Paid Staff Size
7
*2019 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Planned giving arrangements, Television
Fundraising costs were 20% of related contributions. (Related contributions, which totaled $2,071,148, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c) (3) of the Internal Revenue Code.It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Fonkoze USA's audited financial statements for the year ended December 31, 2019.
Source of Funds |
Contributions and grants |
$1,807,797 |
Investment income |
$267,124 |
Fundraising events |
$233,193 |
Contracts income |
$79,488 |
Interest on loan recievable, related party |
$69,175 |
In-kind donations |
$30,158 |
Other income |
$3,785 |
Total Income |
$2,490,720 |
- Programs: 70%
- Fundraising: 19%
- Administrative: 11%
Total Income |
$2,490,720 |
Program expenses |
$1,551,734 |
Fundraising expenses |
$412,918 |
Administrative expenses |
$260,825 |
Other expenses |
$0 |
Total expenses: |
$2,225,477 |
Income in Excess of Expenses |
$265,243 |
Beginning Net Assets |
$1,152,860 |
Other Changes In Net Assets |
$0 |
Ending Net Assets |
$1,418,103 |
Total Liabilities |
$3,612,237 |
Total Assets |
$5,030,340 |
Note: According to Fonkoze USA's 2019 audited financial statements, the organization received in-kind contributions totaling $30,158 in the form of legal services and gala auction items.