Eha Impact Ventures Inc

Nonprofit profile at a glance

EIN
862911430
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Wilmington, DE, USA
Phone
7143319718
Rating
32
Verdict
REVIEW
Rating confidence
Moderate
Sector
International Economic Development

Reported finances

Revenue
$4,411,554
Expenses
$616,540
Assets
$11,446,147
Liabilities
$51,617

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • EVELYN CASTLE (CEO)
  • ADAM THOMPSON (PRESIDENT)

Highest reported compensation

  • EVELYN CASTLE (CEO): $316,542 total reported compensation
  • ADAM THOMPSON (PRESIDENT): $177,348 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Eha impact ventures has 3 major focus areas; empower female entrepreneurs, invest in female founded enterprises, and be leaders in the impact investing community.

What it reported doing in 2024

We continued to support the 3 female founders of our portfolio companies to grow their businesses and support them with mentorship and thought-leadership. We worked with them to ensure an impact-first mind set to ensure their companies were actively looking for ways to improve the health ecosystem in nigeria. We worked with banks and other lending institutions to find ways for female founded companies to get access to catalytic capital and secured an impact loan with a leading bank in nigeria for one of our portfolio companies. Our founder spoke at multiple conferences and events about the nigerian female founder ecosystem and the importance of investing in female founders in africa.

Operating model

Revenue model
Affiliate-supported. 95% of the money available for current operations came from contributions from related organizations.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

REVIEW - Revenue comfortably covers expenses and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 12
  • Transparency & Controls: 48
  • Accountability: 26
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 6.8%; rating input score 7
  • Program expense ratio: 24.4%; rating input score 24
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 86%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 18.57; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 89; 89th percentile among comparable filings
  • Officer compensation ratio: 57.9%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 48.8% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -3.4% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 23.9% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 6.8% of revenue deployed · 24.4% of spending went to programs
  • Governance: 0 of 2 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $151K in reported program spending
  • Leadership: top reported pay $317K · 2 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors, foreign activity, executive pay, and related organizations
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 7/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 24/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.