New Africa Inc
Nonprofit profile at a glance
- EIN
- 881632879
- IRS 990-EZ coverage
- 2024–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2023
- Location
- Albuquerque, NM, USA
- Phone
- 2136749869
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Alliance/Advocacy Organizations
Reported finances
- Revenue
- $140,685
- Expenses
- $130,697
- Assets
- $9,988
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
People named in this filing
- DANIEL E GROSS (DIRECTOR)
- KIM PLYER (DIRECTOR)
- MARK COBLENTZ (DIRECTOR)
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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Inspired by faith the new africa serves as a special purpose vehicle (spv) coalition between era92 and 92hands uganda that aims to provide leadership and resources for catalytic action to increase the number of people engaged in productive work, solving the issue of unemployment and lack of access to capital. We also create a new story about africa.
What it reported doing in 2024
Era92fund, mobalizes funds from investors around the world and makes it accessible to sme and microentrepreneurs across uganda. We back companies solving our societies biggest challenges to build a prosperous africa.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- 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
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 80
- Transparency & Controls: 82
- Sustainability: 43
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.2%; rating input score 78
- Program expense ratio: 84.2%; rating input score 84
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 7.1%; rating input score 52; 52nd percentile among comparable filings
- Total-asset coverage ratio: 0.08; rating input score 9; 9th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 78.2% of revenue deployed · 84.2% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments · $110K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 2 filed schedules
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- 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 — Sustainability: Total-asset coverage ratio scored 9/100.
- Review — Sustainability: Operating margin scored 52/100.