The Afara Foundation

Nonprofit profile at a glance

EIN
853379206
IRS 990-EZ coverage
2024–2024
Forms available
Form 990-EZ 2024, Form 990-N 2024
Location
Simi Valley, CA, USA
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$154,500
Expenses
$16,905
Assets
$125,685
Liabilities
$633

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

Leadership & pay

5 people listed

Executive titles in this filing

  • OMOLARA RABIU (PRESIDENT)

People named in this filing

  • OMOLARA RABIU (PRESIDENT)
  • MARGARET MEAGER (SECRETARY)
  • VEDA SUNASSEE (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

To promote social progress economic development and democratic governance in africa by providing monetary grants to impact-focused social enterprises and organizations within the united states and across africa

What it reported doing in 2024

The afara foundation advances social progress and leadership development in africa by funding and supporting programs that empower young leaders through the afara initiative. To date it has reached over 730 students across more than 119 universities equipping them with leadership career readiness and digital skills that have helped many secure positions in leading global and african organizations such as google meta goldman sachs and arm. Through initiatives like the pathway programme and bridge fellowship the foundation fosters employability innovation and civic engagement among youth. It has also expanded international partnerships including with the morehead-cain foundation to connect african students with global opportunities and secured major institutional funding to scale its programs and deepen its impact across the continent.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 32
  • Transparency & Controls: 100
  • Sustainability: 88
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 7.8%; rating input score 8
  • Program expense ratio: 71%; rating input score 71

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 89.1%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 7.43; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 46; 46th 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: 7.8% of revenue deployed · 71% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $12K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 8/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.