Overview
What is The Somo Project?
The Somo Project is a 501(c)(3) organization situated in San Francisco, California. With a focus on low-income urban areas, they offer a comprehensive approach to supporting entrepreneurs. Their program includes one-on-one coaching, mentorship from volunteers, and access to startup series events where lessons are taught on various areas of expertise. The organization provides 1:1 support to businesses, either through office hours or direct involvement with a specific enterprise. As part of their two-year accelerator program, they grant non-repayable funds to qualified entrepreneurs for initial venture capital expenditures. Later-stage funding is provided as debt capital, contingent upon success metrics developed in collaboration with the entrepreneurs and the Somo team.
Official website here: www.somoafrica.org
Is The Somo Project legitimate?
The Somo Project is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Somo Project submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.somoafrica.org
What is the mission statement of The Somo Project?
The Somo Project, a registered 501(c)(3) organization, is committed to providing training, mentorship, and capital to entrepreneurs who are establishing businesses in low-income urban areas. Its mission is to empower impact entrepreneurs, helping them grow their ventures successfully. Through its accelerator program, entrepreneurs receive one-on-one coaching from both the Somo team and volunteer advisors. These advisors offer mentorship and guidance, aiding in the growth of Somo businesses. Entrepreneurs also have access to monthly startup series events, where Somo advisors teach lessons on various areas of expertise. Somo advisors provide individual support to businesses through office hours or direct engagement with a single enterprise. As part of its two-year accelerator program, Somo provides non-repayable grants to qualifying entrepreneurs for their initial capital expenditures. Later-stage funding is provided as debt capital, with continued funding contingent upon success metrics developed by the entrepreneurs in collaboration with the Somo team.
Official website here: www.somoafrica.org
Who is the CEO of The Somo Project?
Lilian Wanjiku is the Principal Officer of The Somo Project.
Official website here: www.somoafrica.org
What is the revenue of The Somo Project?
Who are the executives of The Somo Project and what are their salaries?
- Amelia Hopkins Phillips (Executive Director)
- Tom Phillips (Board Chair) [Trustee/Director]
- Edel Were (Secretary) [Trustee/Director]
- Brittany Ryden (Treasurer) [Trustee/Director]
- Kagure Wamunyu (Board Member) [Trustee/Director]
- Eskor John (Board Member) [Trustee/Director]
- Fiona Kirubi (Board Member) [Trustee/Director]
- Edward Mungai (Board Member) [Trustee/Director]
Official website here: www.somoafrica.org
Where can I find the form 990 for The Somo Project?
The The Somo Project’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.somoafrica.org
Learn more at the official website: www.somoafrica.org
Mission Statement of The Somo Project
The Somo Project, a registered 501(c)(3), is dedicated to supporting entrepreneurs who are building businesses in low-income urban areas. Their mission is to provide these impact entrepreneurs with essential training, mentorship, and capital. Through their accelerator program, entrepreneurs receive one-on-one coaching from both the Somo team and volunteer advisors. These advisors offer mentorship and guidance, helping to grow the Somo businesses. Entrepreneurs also have access to monthly startup series events, where Somo advisors teach lessons on various areas of expertise. The Somo advisors provide 1:1 support to businesses, either through office hours or by working directly with a single enterprise. As part of their two-year accelerator program, Somo provides non-repayable grants to qualifying entrepreneurs for the initial capital expenditures necessary to launch their ventures. Later-stage funding is provided as debt capital, with continued funding contingent on success metrics developed by the entrepreneurs in collaboration with the Somo team.
Impact
This information is meant to be a general summary of The Somo Project. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
The Somo Project empowers impact entrepreneurs in low-income urban areas by providing them with training, mentorship, and capital to build successful businesses. Through its accelerator program, entrepreneurs receive personalized coaching from the Somo team and volunteer advisors, access to monthly startup series events, and non-repayable grants for initial capital expenditures. As a registered 501(c)(3) nonprofit based in San Francisco, California, The Somo Project is making a tangible difference by supporting entrepreneurs in creating sustainable businesses that positively impact their communities.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Organization Details
Founding Year
2014
Phone
(914) 426-2055
Principal Officer
Lilian Wanjiku
Main Address
10TH STREET APT 1222, SAN FRANCISCO, CA, 94122
Website
www.somoafrica.org
NTEE Category
Code: Q33 - International
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