Elev8 Foundation Inc

Nonprofit profile at a glance

EIN
824678646
IRS 990-EZ coverage
2022–2023
Forms available
Form 990-EZ 2023, Form 990-N 2021
Location
Marietta, GA, USA
Phone
6786567541
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$4,062
Expenses
$33,290
Assets
$99,015
Liabilities
$170

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • HADDY J COULIBALY (PRESIDENT CEO [:AMP:] BAORD CHAIR)

People named in this filing

  • HADDY J COULIBALY (PRESIDENT CEO [:AMP:] BAORD CHAIR)
  • IDA SANNEH (COO [:AMP:] BOARD VICE CHAIR)
  • AMADOU M JALLOW (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To identify, develop, and make available, educational, health, and financial resources to children and related benefits to mothers in undeserved communities.

What it reported doing in 2023

Elev8 economic development project capital investment: fund to invest in emerging businesses on the continent that will later generate a return for elev8 for more impact investments. 1st investment was to innovarx global health an innovative healthcare solution company working to democratize access to quality healthcare across sub-saharan africa. (10k lives impacted since investment)

Operating model

Revenue model
Donor-supported. 64% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 33
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -719.5%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 2.97; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 66.6% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: -188.8% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -25.5% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 3 filed program accomplishments · $59K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 6 of 8 current checks pass · 2 findings to review
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2022 to 2023
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Transparency & Controls: Part I part ii net assets crosscheck did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part III program expenses within total did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.