Over the past five years, Village Enterprise’s income, expenses, and the number of businesses we launched have all grown significantly. The fiscal year 2020 was the only year that saw a decrease in the number of businesses launched from the year preceding it. This decrease from 5,021 businesses launched in FY19 to 3,810 in FY20 was caused by the start of the pandemic and the resulting country lockdowns. We had to suspend in-person field operations for four months during FY20, starting 37% fewer businesses than planned. Since then, we have responded by launching a record number of new businesses—6,749 in FY21 and 8,179 in FY22. We aim to continue that trend in FY23 by launching more than 15,000 businesses this fiscal year.

The organization exceeded its revenue budget by $16.8M, or 181%, during the fiscal year ending in June 2022. This was primarily driven by $19.8M in foundation gifts for the DREAMS project. Excluding the non-budgeted grant amount received for DREAMS of $17.5M, revenue would be $8.7M, which is $3M above FY21 revenue. This gain was driven by across-the-board increases for all funding streams, which has placed Village Enterprise in a strong diversified position. Increases in bilateral and government funding have also produced high future growth prospects related to individual projects.

Year-over-year expenses rose by 67%, or $3.1M, from FY21 to FY22, primarily as a result of increasing our total number of entrepreneurs trained by more than 30%. Village Enterprise also increased our small business grant delivered to entrepreneurs by 20% across the board. This was done with a focus on making sure our entrepreneurs are in a position to maximize their investments despite global inflation. Most importantly, we continued to invest in building a world-class African team by hiring critical staff who can support further development of the services being offered to entrepreneurs. This includes investments in our People and Culture team, Technology Solutions team, and entrepreneur-facing positions such as additional Business Mentors and Field Associates.

Overall, our financial position remains strong. The results of the past five years have allowed us to build a cash reserve that will ensure future financial sustainability, which is particularly critical during uncertain times.

Fiscal Year Income Expenses Entrepreneurs Trained
2018 $5,880,658 $3,300,748 13,662
2019 $3,599,590 $4,022,529 15,239
2020 $5,230,382 $4,095,156 11,659
2021 $5,693,153 $4,666,402 18,552
2022 $26,160,519* $7,793,799 24,595
*Income increase in FY22 primarily driven by $19.8M in foundation gifts for DREAMS project.

Entrepreneurs Trained 2018 - 2022


Our Team

The past five years have been full of incredible growth. In 2018, we had around 150 team members at Village Enterprise. Today, we have a team that is 440 strong.

World-Class and Locally-Led


Team Members


African Staff


Senior Female Leadership


Senior African Leadership


At Village Enterprise, our team is everything.

As our team has tripled in size over the past five years, we have retained our culture by putting our values of ubuntu, passion, integrity, innovation, and sustainability at the forefront of all that we do.

In order to further invest in our team and culture at Village Enterprise, we hired Evelyne Mkungo, our first-ever VP of People and Culture, and promoted our Director of Talent Management, Terry Shiundu, to Senior Director of People and Culture. And as our programs and operations continue to grow and scale, so has the leadership of our team. We promoted our VP of Programs, Winnie Auma, to Chief Program Officer, and our VP of Africa Operations, Taddeo Muriuki, to Chief Policy and Government Relations Officer.

Village Enterprise’s commitment to diversity, equity and inclusion is built upon our values and integrated into our strategic direction.

In tackling inequity in the world, it is critical to our mission and our organization’s culture that we take diversity, equity, and inclusion into consideration in serious and intentional ways. This is at the core of what we do, who we are, and the intentional strategy that we employ to end extreme poverty.

To deliver on our commitment, we have taken deliberate action to infuse these values throughout our internal culture, systems, and practices. We have taken concrete steps to strengthen our ability to recruit and retain exemplary diverse staff and leadership, particularly from the poorest areas of rural Africa where we work. And we have undertaken reviews and audits of pay, policies, practices, and procedures to ensure they are equitable, fair, and empowering. We choose to work with partners that reflect that commitment and we are actively pursuing strategies that ensure that our organization and our partners meet the highest standards of openness and accessibility.


Lead Donors & Funders

Village Enterprise is incredibly grateful to the following individuals, foundations, and funding partners for their contributions to help end extreme poverty. We’re also proud to report that 100% of our Board of Directors gives to Village Enterprise. Donors and funding partners are recognized below by their highest giving year from the past five years.

Pascale de la Frégonnière

Cartier Philanthropy has been supporting Village Enterprise in Uganda since 2016. Today, its operations expand throughout rural sub-Saharan Africa with the goal of lifting 20 million people out of extreme poverty by 2030. Our relationship with Village Enterprise has evolved constantly over the years, blooming into a solid collaboration based on dialogue, transparency, and trust. Beyond providing flexible funding, we’re proud to join strategic discussions or lend support during key application processes that have the potential to secure additional, well-deserved funds.

Pascale de la Frégonnière
Strategic Advisor, Cartier Philanthropy

Visionary Level $100,000+

  • African Wildlife Foundation
  • Anonymous (4)
  • Arcus Foundation
  • Katie and Brian Boland
  • Ken and Cheryl Branson
  • Cartier Philanthropy
  • Catholic Relief Services
  • Mark Egan
  • Bill Elmore
  • Gaudio Family Foundation
  • Geneva Global
  • GOAL Uganda
  • Greater Impact Foundation
  • Debbie and Russ Hall
  • Lisa Guerra and Chuck Kung
  • Imago Dei Fund
  • International Institute for
    Environment and Development
  • Jasper Ridge Charitable Fund
  • Laidir Foundation
  • Lucille Foundation
  • Mercy Corps Uganda
  • Hampshire Foundation
  • Open Society Foundations
  • Ray and Tye Noorda Foundation
  • Linda and Ted Schlein
  • Sea Grape Foundation
  • Cynthia and Bruce Sewell
  • The Earl and Bettie Fields Charitable Foundation
  • The Light Foundation
  • The Starbucks Foundation
  • UN Women
  • Whole Planet Foundation
  • Wildlife Conservation Society
  • World Bank / Government of Kenya
  • Younger Family Fund

Catalyst Level $50,000 - $99,999

  • Anonymous
  • Len and Mary Anne Baker
  • Boeing Corporation
  • Cadenza Charitable Trust
  • Lewis and Kirsten Cirne
  • Hugh Cullman
  • John F. and Mary A. Geisse
  • Foundation
  • Instiglio Covid-19 Adaptation Fund
  • Mark Lampert and Susan Byrd
  • Love Meyer Family Foundation
  • Niv Novak
  • Ruth Soukup
  • Segal Family Foundation
  • Wasafiri Consulting

Leadership Level $25,000-$49,999

  • Anonymous (6)
  • David and Ami Bear
  • Jeff and Christina Bird
  • Chris and Jessie Colburn
  • David and Lucile Packard Foundation
  • Foreign, Commonwealth & Development Office
  • Founders Pledge
  • Jay and Joyce Friedrichs
  • John Graves
  • Hurlbut-Johnson Charitable Trusts
  • Angela and Nicholas Kalayjian
  • The Laura Ellen & Robert Muglia Family Foundation
  • Mandy Lowell and Charles
  • Munger
  • Lurn, Inc
  • DeeDee McMurtry
  • Menlo Church
  • Jill and Erik Olson
  • Jill Scoby
  • Ian Taylor
  • UNFCU Foundation
  • Randy Vagelos and Julie Wissink
  • Robby Walker
  • Daniel Weaver and Katie Goetz
  • Weyerhaeuser Family Foundation
  • Joshua Wohle
  • Zatisi Catering Group
  • Hagit and Oren Zeev

Champion Level $10,000-$24,999

  • Jim Anderson
  • Terri Bullock
  • Charles Abbott Associates, Inc.
  • Barnara Bishop
  • Pat an Debby Brown
  • Joe Chernesky and Mona Sabet
  • Pam Cogan and Jed Riddle
  • Cogan Family Foundation
  • Rebecca and Cy Colburn
  • Conrad N. Hilton Foundation
  • Mark Donovan
  • Economist Charitable Trust
  • Barbara Egyud
  • Mary Jane Elmore
  • First Dollar Foundation
  • Norman Godinho
  • Dr. Mike Goodloe and Dr. Lee Zwanziger
  • Guldan IT Services
  • Dr. Satish Gupta
  • Kirk and Kathryn Hanson
  • Joanne Kagle
  • Rich and Gina Kelley
  • Lata Krishnan and Ajay Shah
  • Larry and Sue Langdon
  • Jane and Michael Marmor
  • Jackie and Lee Mighdoll
  • Bill Newman and Dale Melcher
  • Teri and John O’Neel
  • Susan Packard Orr and Lyn Orr
  • Aleks and Russell Peters
  • Andrew Posner
  • Purpose Inspired Marketing LLC
  • Andrew Rohr
  • Social Good Fund
  • West Foundation
  • Spyridon Triantafyllis
  • Kim and John Whitcombe
  • Caleb and Johanna Wright
  • Larry and Kristin Wu

Major Level $5,000-$9,999

  • Lauren Adams
  • Anonymous (5)
  • Emeka Ajoku & Affi Ekerenduh
  • Herb Fockler and Cecile Babcock
  • Elizabeth Buchanan
  • Jane and Robert Burgess
  • Daniel Caiello
  • Dianne and Mauro Calvi
  • Saran Chari
  • Rob and Stacey Chess
  • Craig and Whitney DeVine
  • Michael Dittmar
  • Loraine England
  • David and Laura Ferenci
  • Morgan and Kathryn Freeman
  • Lynn and Steve Freeman
  • Fulfilltopia
  • Jennifer and Dale Fuller
  • Joe Greenstein
  • Jennifer Hammer and Ed Oates
  • Heavens Helping Hand Foundation
  • Hennessy Family Gift Fund
  • Steve Herskovitz and Pam Jones
  • Bill and Julie Hooper
  • Caryn Hubbard
  • RJ Hutton
  • Paula Joyce
  • Andrew Kahn
  • Beth and Guy Kawasaki
  • Heni Koenigsberg
  • Peggy and Pedro Lizaur
  • Geri and Scott Macomber
  • Pamela Smith-Mentz and David Mentz
  • John and Tashia Morgridge
  • Andy and Mary Naegeli
  • Leah Newman
  • Marcia and Bill Pade
  • Parncutt Family Foundation
  • Carole and Larry Peiros
  • Marc Plonskier
  • Project Baobab
  • Eeh Pyoung Rhee
  • Ridgeon Family Trust
  • Mr. Kunal Sarkar and Dr. Kacey Ballard
  • Bill Schroeder
  • Andrew and Grace Schulz
  • Thomas Stair and Lucy Caldwell-Stair
  • Trinity Presbyterian Church
  • Bill Unger
  • Kristin and Paul Vais
  • Amy Wilson
  • Greg and Cheryl Wood
  • Jung Ah Yang
  • Susan and David Young
  • Konstantin and Jessica Zvereff

Matching Gifts & In-Kind

  • 3ie Leadership Consulting
  • Amazon Smile
  • Apple
  • Bank of America Charitable Foundation
  • Benevity
  • Chan Zuckerberg Initiative
  • Facebook
  • Gap Inc
  • Global Impact/ Pitney Bowes Employee Involvement Fund
  • Google
  • Jones Day
  • Legacy Venture Management
  • Media Math
  • Microsoft
  • Netflix
  • Oracle Corporation
  • PepsiCo
  • Salesforce.org
  • Social Good Fund
  • United Services Automobile Association

Development Impact Bond Outcome Funders

  • Anonymous
  • Foreign, Commonwealth & Development Office (FCDO)/UKaid
  • USAID Development Innovation Venture (USAID DIV)

Development Impact Bond Impact Investors

  • Anonymous (2)
  • Bridges Impact Foundation
  • The Delta Fund
  • Joyce and Jay Friedrichs
  • Debbie and Russ Hall
  • Laidir Foundation
  • Silicon Valley Social Venture Fund (SV2)
  • Skees Family Foundation

How can I support Village Enterprise?

Online or via check. Gift card options are available online.

Consider a gift of appreciated stock, crypto currency, or mutual funds.

Check out corporate matching.

Find out about Planned Giving opportunities.
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For more information, please contact Caroline Bernadi at carolineb@villageenterprise.org, or visit us at villageenterprise.org.

Alissa Everett
Harrison Thane