BAYI Foundation

Doing the little things for Greater Impact

Middletown, NY   |  https://www.bayifoundation.org

Mission

BAYI Foundation is a registered 501(c)(3) non-profit organization established to build and support sustainable social and economic growth in underserved communities by supporting small businesses. The Foundation is committed to channeling catalytic financing, training, and mentorship to build and support sustainable social and economic growth in underserved market through small-medium-sized enterprises (SMEs) support. We leverage broad-based partnerships, collaborating with private and institutional investors to provide patient capital to entrepreneurs with potential for growth in challenging markets.

Ruling year info

2020

Executive Director

Temidayo Adebayo

Main address

140 Patio Rd

Middletown, NY 10941 USA

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EIN

84-3859868

NTEE code info

Human Service Organizations (P20)

IRS filing requirement

This organization is required to file an IRS Form 990-N.

Communication

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

TheHUB Africa

Africa has the largest share of youth globally. 19 of the world’s 20 youngest countries belong to the African continent. In Africa, Small and medium-sized enterprises (SMEs) account for 90% of businesses. According to the World Economic Forum, these enterprises also provide 80% of Africa’s employment.

However, SMEs often lack access to credit, resources, or proper guidance – factors that are necessary to sustain in the long-term. They are far less productive than larger firms and provide inferior working conditions, leading to high employee turnover. Nevertheless, if managed well, SMEs can create job opportunities and provide economic resilience for the poor, while the world reels from the devastating after-effects of the pandemic.

TheHUB™ Africa is a flagship initiative created by BAYI Foundation that provides business education, training and skills development to enterprises globally. Our mission is to channel catalytic financing and deploy expertise to small and medium sized enterprises (SMEs) to support wealth creation and sustainable development. This initiative is designed to support the strategic growth of SMEs by focusing on gaps in the necessary resources to attract external growth capital. The SMEs that fit the criteria move through the program in four (4) stages:

An 8-week training program,
A 6-month fellowship with a management consultant,
Strategic and digital mentorship and,
Access to catalytic financing

Africa has 19 out of 20 youngest countries to develop but this comes with challenges such as access to education, marketable skill development and ultimately employment opportunities for youth and women. Africa has a lot to gain from reaping its gender dividend as well. The 2017 Global Entrepreneurship Monitor declared Africa the first continent of female entrepreneurship. 27% of women in sub-Saharan Africa are entrepreneurs. However, while women produce 62% of economic goods, only 8.5% are paid for their work. The reality for far too many young women and men, however, is the shortage of decent jobs. With 60% of Africa’s population being regarded as youths, youth unemployment remains very high across many African markets. More than one in three unemployed young people have been looking for work for more than five years. For young women, the figures are even worse. Women are less likely to participate in the workforce in the first place, and when they do, they are less likely to find a job. COVID-19 has only exacerbated these problems further. SMEs can unlock the untapped potential of this dormant workforce. Technology can further remove barriers to expansion and help SMEs cater to the masses.

BAYI empowers small and medium-sized enterprises (SMEs), particularly women-owned or led SMEs (W-SMEs), across Africa with the tools to sustain and grow their businesses through TheHUB program. TheHUB channels catalytic funding and organizational support to SMEs, that evince the potential for sustainable growth, to get them to operational breakeven, and ensure their financial resilience and ability to fund their own growth. Our hands-on intensive approach enables us to de-risk our investments and foster businesses that are truly resilient and sustainable. BAYI is seeking monetary and local personnel support to provide more women-owned or led SMEs (W-SMEs) across Africa access to advisory and functional support through TheHUB. For its first cohort, BAYI admitted 10 SMEs in Kenya, Nigeria, and Botswana into the TheHUB program who met its gender lens, workforce development, and organizational requirements. Three of the 10 SMEs in the cohort are women-owned, with 17 women in leadership roles across the 10 SMEs and a workforce made up of 60% women. The first cohort has created 9 jobs as part of TheHUB program and has the potential to create 150 new jobs as the businesses scale. With the USAID’s W-GDP award, BAYI will ensure that at least 30 more W-SMEs obtain catalytic funding by the end of 2024 and 300 gain access to our network of private investment capital to support their growth and sustainability.

Population(s) Served
Adults
People of African descent
Economically disadvantaged people
Immigrants and migrants
Unemployed people

BAYI Foundation recognizes that there are no quick fixes to the unemployment and limited business growth situations which can be described as a ticking time bomb, but we believe that we can be part of the solution. Our plan is to take advantage of the opportunities provided by small and medium sized enterprises (SMEs) and focus on deploying expertise and financing to empower SMEs and entrepreneurs for wealth creation, job creation and sustainable development.

To achieve this mission, TheHUB™is designed to support the strategic growth of SMEs by focusing on gaps in the education and resources required to attract external growth capital. The stages of the program address these gaps by providing SMEs with business support training and human capital to aid in structuring efficient business operations and mentorship to prepare them for investment by ensuring a sustainable business model that meets the Environmental, Social, and Governance (ESG) standards used to screen investments. We aim to build an ecosystem where SMEs have access to suitable markets for funding, trade and development as we are not only focused on providing capital but making an impact.

The SMEs that fit TheHUB™'s criteria move through the program in three (3) stages: 1) a 3-week business support training, 2) a 6-month fellowship with a management consultant, and 3) access to catalytic financing.

1) Training: The journey for SMEs begins with three (3) weeks of business support training. The program is designed for executives of SMEs to address key risk areas that typically disqualify SMEs from receiving funding.
2) Fellowship: TheHUB™ helps address SMEs' emergent skill gaps; the goal is to transfer business skills and knowledge from seasoned business professionals to SMEs.
3) Mentorship: By the final stage of TheHUB™, SMEs will be eligible for investor or growth funding and have the potential to be recommended to BAYI Capital for continued growth and financial support.
SMEs account for the majority of businesses worldwide, and are important contributors to global economic development. They represent about 90% of businesses and more than 50% of employment worldwide. In developing markets, SMEs create seven out of ten formal jobs. The world economy has taken a drastic downturn due to the COVID-19 pandemic, with women and minorities worldwide disproportionately affected. TheHUB™ will aid SMEs in securing the knowledge and funding required to surmount the obstacles of the last year and be poised to access the foundational expertise needed to create institutional businesses like Unilever, General Electric, and PepsiCo.

Population(s) Served
Unemployed people

The BAYI Foundation graduate program is an employment initiative that aims to provide work experience, transition college graduates to formal employment and thus bridge the unemployment gap in Africa. This is to create a full life cycle of providing access to education to workforce development that will fuel SMEs to pursue continuous growth and transformation of their businesses, ultimately contributing directly to the local economy.

The Graduate Program is a 6-month program focused on the development and employability of youths in Africa. The program is to encourage gender-balanced workforce in SME companies and provide training and coaching to graduates to help them become more employable (how??). We aim to increase women’s employment opportunities to close the gender gap. This program will involve:

1) BAYI recruiting and matching graduates to SMEs across Africa in need of extra labor/support.
2) The graduate will be involved in employability training organized by BAYI and present a final feedback report on their program and the SME business to assess their viability to join the BAYI program.
3) The SMEs will send monthly reports on the progress of the graduate and recommendations on whether they will employ the graduate full time.

Population(s) Served
Economically disadvantaged people
Ethnic and racial groups
At-risk youth
Immigrants and migrants
Economically disadvantaged people
Ethnic and racial groups
At-risk youth
Immigrants and migrants
Work status and occupations

Where we work

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • How is your organization collecting feedback from the people you serve?

    Electronic surveys (by email, tablet, etc.), Focus groups or interviews (by phone or in person), Case management notes,

  • How is your organization using feedback from the people you serve?

    To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals,

  • With whom is the organization sharing feedback?

    The people we serve, Our staff, Our board, Our funders, Our community partners,

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We tell the people who gave us feedback how we acted on their feedback, We ask the people who gave us feedback how well they think we responded,

  • What challenges does the organization face when collecting feedback?

    It is difficult to get the people we serve to respond to requests for feedback, We don’t have the right technology to collect and aggregate feedback efficiently, It is difficult to find the ongoing funding to support feedback collection, Staff find it hard to prioritize feedback collection and review due to lack of time,

Financials

BAYI Foundation
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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Connect with nonprofit leaders

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  • Analyze a variety of pre-calculated financial metrics
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  • Compare nonprofit financials to similar organizations

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BAYI Foundation

Board of directors
as of 8/19/2021
SOURCE: Self-reported by organization
Board chair

Temidayo Adebayo

BAYI Capital Management

Temidayo Adebayo

BAYI Capital Management LLC

Bernard Birnbaum

Birnbaum Companies

Ian Henderson

Artis Finance

Elizabeth Onukwugha

Mallinckrodt Pharmaceuticals

Ajoke Adeniji

Olayinka Ogunro

Dalos and Stern

Morenike Saula

George Washington University Law School

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? No
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? No
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 08/10/2021

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

The organization's leader identifies as:

Race & ethnicity
Black/African American/African
Gender identity
Male

Race & ethnicity

Gender identity

 

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 08/10/2021

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We review compensation data across the organization (and by staff levels) to identify disparities by race.
  • We ask team members to identify racial disparities in their programs and / or portfolios.
  • We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We disaggregate data by demographics, including race, in every policy and program measured.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We use a vetting process to identify vendors and partners that share our commitment to race equity.
  • We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.