Nonprofit · EIN 46-2894529
TUNISIAN-AMERICAN ENTERPRISE FUND
Tax-exempt · WASHINGTON, DC 20006
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | -$215,168 | $1,513,230 | -$1,728,398 | $87,805,960 | $3,453,624 | $84,352,336 |
| December 31, 2023 | 990 | $3,198,968 | $1,514,251 | $1,684,717 | $89,030,844 | $3,142,528 | $85,888,316 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $274,920
- of which government grants
- $274,920
- Program service revenue
- $3,255
- Investment income
- $806,161
- Net gain from sales of assets
- $72
- Other revenue
- -$1,299,504
Expenses
- Grants and similar amounts paid
- $273,504
- Compensation of officers, directors and key employees
- $853,864
- Salaries, compensation and benefits (total)
- $874,559
- Professional fundraising fees
- $0
- Legal fees
- $25,574
- Accounting fees
- $131,914
- Occupancy
- $16,800
- Travel
- $17,510
- Depreciation
- $390
- Program services (functional)
- $697,165
- Management and general (functional)
- $816,065
Balance sheet and other
- Total assets, start of year
- $89,030,844
- Total assets, end of year
- $87,805,960
- Total liabilities, end of year
- $3,453,624
- Net assets, end of year
- $84,352,336
- Land, buildings and equipment
- $1,040
- Publicly traded securities
- $15,250,196
- Net assets without donor restrictions
- $84,352,336
- Gross receipts
- $5,656,723
- Employees
- 1
- Volunteers
- 8
- Year formed
- 2013
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| HELA KADDOUR FOURATI | PRESIDENT Officer | 45 | $592,318 |
| LOUISE STONER CRAWFORD | SECRETARY - MANAGING DIRECTOR Officer | 20 | $258,275 |
| W BOWMAN CUTTER | CHAIR OF BOARD Trustee or director, Officer | 15 | $0 |
| MOHAMED MALOUCHE | TREASURER Trustee or director, Officer | 2 | $0 |
| FERID ABBAS | BOARD MEMBER Trustee or director | 1 | $0 |
| AHMED BENGHAZI | BOARD MEMBER Trustee or director | 1 | $0 |
| DONIA ELLOUZE | BOARD MEMBER Trustee or director | 1 | $0 |
| LAUREN HENDRICKS | BOARD MEMBER Trustee or director | 1 | $0 |
| HOWARD NEWMAN | BOARD MEMBER Trustee or director | 1 | $0 |
| HATEM SELLAMI | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| HELA KADDOUR FOURATI | PRESIDENT Officer | 45 | $568,807 |
| LOUISE STONER CRAWFORD | SECRETARY - MANAGING DIRECTOR Officer | 20 | $252,500 |
| W BOWMAN CUTTER | CHAIR OF BOARD Trustee or director, Officer | 15 | $0 |
| MOHAMED MALOUCHE | TREASURER Trustee or director, Officer | 2 | $0 |
| FERID ABBAS | BOARD MEMBER Trustee or director | 1 | $0 |
| AHMED BENGHAZI | BOARD MEMBER Trustee or director | 1 | $0 |
| GILBERT CRAWFORD | BOARD MEMBER - UNTIL 08/2024 Trustee or director | 1 | $0 |
| DONIA ELLOUZE | BOARD MEMBER Trustee or director | 1 | $0 |
| LAUREN HENDRICKS | BOARD MEMBER Trustee or director | 1 | $0 |
| HOWARD NEWMAN | BOARD MEMBER Trustee or director | 1 | $0 |
| HATEM SELLAMI | BOARD MEMBER Trustee or director | 1 | $0 |
| ANN WYMAN | BOARD MEMBER - UNTIL 01/2024 Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 2000 PENNSYLVANIA AVE NW STE 7000, WASHINGTON, DC 20006-1921
- In care of
- % ROOSEVELT INSTITUTE
- Principal officer (990 for 2024)
- LOUISE STONER CRAWFORD, 2000 PENNSYLVANIA AVENUE NW 7000, WASHINGTON, DC 20006
- Signed the 990
- LOUISE STONER CRAWFORD, SECRETARY - MANAGING DIRECTOR
- Phone
- (202) 765-2383
- Website
- WWW.TAEFUND.ORG
- Return prepared by
- CBIZ ADVISORS LLC
Mission
THE PURPOSE OF THE TUNISIAN-AMERICAN ENTERPRISE FUND (THE FUND) IS TO PROMOTE DEVELOPMENT OF THE TUNISIAN PRIVATE SECTOR THROUGH LOANS, MICROLOANS, EQUITY INVESTMENTS, INSURANCE, GUARANTEES, GRANTS, FEASIBILITY STUDIES, TECHNICAL ASSISTANCE, TRAINING FOR BUSINESSES, RECEIVING INVESTMENT CAPITAL, AND OTHER MEASURES.
Program accomplishments
- IN 2024, TAEF CONTINUED OUR WORK OF FINDING AND INVESTING IN TUNISIA'S MOST PROMISING SMALL AND MEDIUM SIZED ENTREPRENEURS. WE WORKED CLOSELY WITH EXISTING INVESTEES WHILE SEEKING NEW OPPORTUNITIES FOR GROWTH. TAEF INVESTMENT STRATEGY TAEF'S TAILORS PROVEN, INNOVATIVE FINANCING MECHANISMS TO MEET THE NEEDS OF TUNISIAN ENTREPRENEURS AND TO ADDRESS GAPS IN THE COUNTRY'S SMALL AND MEDIUM SIZED ENTERPRISES (SME) FINANCING ENVIRONMENT. TAEF SEEKS TALENTED ENTREPRENEURS AND BUSINESS PEOPLE AS PARTNERS WHO BRING STRONG EXPERIENCE, COMMITMENT AND VISION FOR GROWTH TO THEIR COMPANIES. TAEF INVESTS IN SMES THROUGHOUT THEIR LIFE CYCLE FROM START-UP TO EARLY GROWTH AND MATURITY UP TO SUCCESSION. WE INVEST: - DIRECTLY IN SMES THROUGH TWO PLATFORMS: OUR OWN DEDICATED FUND FOR SMES IN GROWTH STAGE (TASME), AND OUR SEARCH FUND FOR SMES IN SUCCESSION STAGE (TASF) - IN PARTNERSHIP WITH TUNISIAN INVESTMENT FIRMS AS A COMPLEMENT TO TASME'S WORK AND A WAY TO PROVIDE EQUITY OR PRIVATE DEBT INFUSIONS TO BUSINESSES - IN MICROFINANCE INSTITUTIONS THAT REACH THE SMALLEST OF TUNISIA'S BUSINESS OWNERS - IN DIGITAL TECHNOLOGY AND KNOWLEDGE-BASED START-UPS THROUGH AN INTEGRATED PLATFORM: AN ACCELERATOR FLAT6 LABS AND VENTURE CAPITAL INVESTMENT VEHICLE ANAVA SEED FUND. TASME: MEZZANINE & ROYALTY BASED FINANCING FOR TUNISIAN SMES TASME OFFERS UNIQUE FINANCING TO TUNISIAN SMES WITH A COMBINATION OF DEBT AND EQUITY TAILORED TO THEIR NEEDS. TASME SEEKS WELL RUN COMPANIES IN VALUE-ADDING SECTORS EXPECTED TO HAVE STRONG GROWTH. THROUGH TASME, TAEF HAS CREATED A UNIQUE FINANCING PLATFORM, BUILT A TALENTED TEAM, AND EXPANDED TUNISIA'S DOMESTIC SME FINANCING. AT THE END OF 2024, TASME HAD INVESTED IN 21 COMPANIES IN A LARGE VARIETY OF SECTORS WITH INVESTMENT TICKETS AVERAGING $1.1M. THE TEAM ALSO CONTINUED TO WORK CLOSELY WITH EXISTING PORTFOLIO COMPANIES AS THEY NAVIGATE CHALLENGES AND PREPARE FOR EXITS. TASF: TUNISIA'S FIRST SEARCH FUND TAEF ADAPTED THE US SEARCH FUND MODEL TO TUNISIA TO MATCH THE NEEDS OF MATURE BUSINESS OWNERS LOOKING FOR SUCCESSION PLANS FOR THEIR COMPANIES WITH SEASONED MANAGERS WHO HAVE THE SKILLS TO GROW THE BUSINESS. TASF CATALYZES ENTREPRENEURSHIP THROUGH ACQUISITION. OUR FIRST SEARCHER COMPLETED THE ACQUISITION OF PROPANN, A COMPANY THAT PRODUCES MANUFACTURED BOARD FOR FURNITURE AND INTERIOR FINISHING IN 2019. SINCE ACQUISITION, HE HAS UPGRADED AND OPTIMIZED OPERATIONS, REFINED THE COMPANY'S STRATEGY WITH ATTENTION TO PRODUCT MIX, DEVELOPED NEW SOURCES FOR RAW MATERIALS, AND WORKED ON CREATING NEW MARKETS LOCALLY AND INTERNATIONALLY. IN 2024, PROPANN AND ITS STRONG MANAGEMENT CONTINUED TO PERFORM WELL IN A CHALLENGING ENVIRONMENT.FUND OF FUNDS INVESTMENTS: STRENGTHENING TUNISIA'S INVESTMENT ECOSYSTEM TAEF BELIEVES THAT A STRONG SME FINANCING ECOSYSTEM MADE UP OF DIVERSIFIED INVESTMENT VEHICLES WITH TALENTED MANAGEMENT TEAMS IS ESSENTIAL TO DRIVE ECONOMIC GROWTH AND GENERATE IMPACT. BY INVESTING ALONGSIDE OTHERS, TAEF HAS LEVERAGED OUR FUNDS TO ACHIEVE GREATER IMPACT AND TO EXPAND FINANCING OPTIONS AVAILABLE TO TALENTED ENTREPRENEURS INVESTING IN GROWTH. TUNINVEST CROISSANCE (TC), A SINGLE COUNTRY FUND CREATED IN 2013, PROVIDED GROWTH CAPITAL TO 10 TUNISIAN SMES. FULLY INVESTED SINCE 2016, TC WORKS ACTIVELY WITH INVESTEES AS THEY MOVE TOWARDS EXIT. AT THE END OF 2024, FIVE EXITS HAD BEEN FINALIZED, THREE ARE PLANNED FOR EXIT IN 2025, AND ONE FOR LATER IN 2026. INMA HOLDING, A NEW FUND, WAS SEEDED BY TAEF IN 2017 TO EXPAND SME INVESTMENT OPTIONS IN TUNISIA. BY THE END OF 2024, INMA HOLDING HAD INVESTED IN 5 COMPANIES AND SUCCESSFULLY EXITED FROM ONE, GENERATING A 13.9% IRR. TAEF EXPECTS TO CONTINUE TO SUPPORT THESE FUND INVESTMENTS AS THEY EXIT INITIAL INVESTMENTS, MANAGE ONGOING ACTIVE INVESTMENTS, AND DEVELOP MANAGERIAL TALENT. INMA FINANCE: TUNISIA'S FIRST PRIVATE DEBT FUND TAEF CO-CREATED INMA FINANCE, THE FIRST PRIVATE DEBT VEHICLE IN TUNISIA. THIS FUND WAS CREATED IN DIRECT RESPONSE TO SME'S EXPRESSED NEEDS FOR AN ALTERNATIVE TO THE TRADITIONAL BANKING SYSTEM. INMA FINANCE SEEKS INVESTMENTS IN STABLE AND GROWING COMPANIES THAT ARE CREATING VALUE IN TUNISIA IN 2024 INMA FINANCE HAD LOANS TO THREE COMPANIES: TWO MICROFINANCE INSTITUTIONS AND A REAL ESTATE DEVELOPMENT COMPANY, WHICH NEGOTIATED A SECOND REVOLVING LOAN UPON TERMINATION OF THE FIRST. INMA FINANCE ALSO CONTINUED TO SOURCE NEW INVESTMENTS.MICROFINANCE: EXPANDING ACCESS TO FINANCE FOR MICRO-ENTREPRENEURS AAN EARLY SUPPORTER OF MICROFINANCE INSTITUTIONS IN TUNISIA, TAEF VIEWS SUPPORT OF THESE INSTITUTIONS AS AN EFFECTIVE WAY TO FILL A CRITICAL GAP IN ACCESS TO FINANCE FOR MICRO ENTERPRISES. OUR GOAL IS TO SUPPORT STRONG AND RESILIENT INSTITUTIONS THAT PROVIDE NATION-WIDE ACCESS TO FINANCE TO TUNISIAN MICRO-ENTREPRENEURS. TAEF DELIBERATELY INVESTED IN MFIS SERVING DIFFERENT PARTS OF THE MICROENTERPRISE ECOSYSTEM WITH AVERAGE LOANS RANGING FROM TND 3,000 (ENDA) TO TND 3,000 - 40,000 (DAAM). IN 2024, TAEF CONTINUED ITS ACTIVE INVOLVEMENT WITH DAAM AND HAD BEGUN EXIT NEGOTIATIONS WITH OTHER SHAREHOLDERS. FLAT6LABS & ANAVA SEED FUND: INTEGRATED VC PLATFORM DEDICATED TO STARTUPS TAEF WAS AN ANCHOR INVESTOR IN BRINGING THIS INNOVATIVE AND PROVEN START-UP ACCELERATOR AND EARLY-STAGE INVESTOR MODEL TO TUNISIA. SINCE INCEPTION, TEN CYCLES OF DIGITAL COMPANIES, A TOTAL OF 75 STARTUPS, HAVE BEEN SELECTED FROM HUNDREDS OF APPLICANTS TO COMPLETE THE ACCELERATOR PROGRAM AND PRESENT THEIR COMPANIES TO INVESTORS AT A DEMO DAY. AT THE END OF 2024, 44% OF THE START-UPS HAD RAISED ADDITIONAL FOLLOW-ON FUNDING, THUS LEVERAGING ANAVA SEED CAPITAL'S INVESTMENT BY TND 68 M. IN ADDITION TO FINANCIAL RESOURCES, FLAT6LABS LEVERAGES ONE OF TUNISIA'S GREATEST ASSETS, ITS TALENTED AND RESOURCEFUL YOUTH.Expenses $697,165 · grants $273,504 · revenue $3,255
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 46-2894529
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2014
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- International, foreign affairs and national security (Q33)
- Assets (IRS master file)
- $87,805,960
- Income (IRS master file)
- $5,656,723
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | -$215,168 | $1,513,230 | $87,805,960 | XML |
| 990 | December 2023 | $3,198,968 | $1,514,251 | $89,030,844 | XML |
| 990 | December 2022 | $2,599,723 | $3,381,927 | $87,978,305 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-2894529).
Questions about TUNISIAN-AMERICAN ENTERPRISE FUND
- What is the EIN of TUNISIAN-AMERICAN ENTERPRISE FUND?
- The employer identification number (EIN) of TUNISIAN-AMERICAN ENTERPRISE FUND is 46-2894529.
- Is TUNISIAN-AMERICAN ENTERPRISE FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
- Are donations to TUNISIAN-AMERICAN ENTERPRISE FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does TUNISIAN-AMERICAN ENTERPRISE FUND file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of TUNISIAN-AMERICAN ENTERPRISE FUND due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did TUNISIAN-AMERICAN ENTERPRISE FUND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of TUNISIAN-AMERICAN ENTERPRISE FUND?
- The 990 for the year ended December 31, 2024 names LOUISE STONER CRAWFORD.
- Who are the officers and directors of TUNISIAN-AMERICAN ENTERPRISE FUND?
- The 990 for the year ended December 31, 2024 lists 10 people; 2 received compensation from the organization, the highest $592,318 (HELA KADDOUR FOURATI, PRESIDENT).
- How much revenue does TUNISIAN-AMERICAN ENTERPRISE FUND have?
- On its 990 for the year ended December 31, 2024 it reported revenue of -$215,168, expenses of $1,513,230 and total assets of $87,805,960 at year end.
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