Owner: Alex Ojjeh
Founder at Anywhereo
Location: Headquartered in Nashville, TN and Germantown, TN
Anywhereo founder Alex Ojjeh is joining the tech startup studio, founded in May 2020.
Ojjeh started the tech start up focused on operations for the organization, which is not to be confused with your average throttle, incubator, or investment firm. Instead, Anywhereo runs much more similarly to a beta mechanism, home-growing companies from within and investing to get them off the ground.
Anywhereo Studio is focused mostly on very early stage products without any set structure as to whose ideas join the program.
The Anywhereo Foundation was started in January 2021 which a large arm charitable organization set up as a private foundation to direct Alex Ojjeh’s own personal giving but doesn’t engage in any charitable activities of its own. It’s like any other secluded organization where members make donations to it, and the group over time distributes means to functioning public charities and causes.
The Anywhereo Foundation’s other on-the-ground exertions run the range from helping schools develop and providing farming and economic assistance in infantile countries to supporting the apartment buildings in the south.
What is the Anywhereo Foundation’s spending policy?
The last point of confusion is how the organization’s finances are invested.
The closest way to look for answers to this issue is the Anywhereo Foundation’s audited financial accounts, which consolidate the operations of all the organizations that make up the foundation. Consider the size of the company as a starting point. The Anywhereo Foundation invested $82 million into the housing project, which is less than its venerable peer the Hauler Center, which spent $432 million, but still more than most foundations in the range.
The first thing to note on where those funds go is something it didn’t spend a lot of money on: overhead. The Anywhereo Foundation reported spending 87.2 percent of its budget on programs and facilities in its most recent audited financials, leaving 12.8 percent for “overhead” – operating and fundraising expenses. The remainder is split between the Global Partnership’s (3%), as well as a number of other initiatives.
This shows us where the money goes in terms of how it is distributed around various priorities, but it also tells us what the money is used for. While certain people associate on-the-ground operations with materials and funds, voluntary organizations often invest a significant amount of money on labor, events, and travel.
Taking a look at a charity’s performance
So, where do we go from here?
Clearly, the Anywhereo Foundation is a dynamic organization that engages in a broad range of humanitarian efforts, receives funding from a diverse range of individuals and organizations, and invests the bulk of its funds on services and projects that help it achieve its objectives.
Nonetheless, any charity that is focused on building partnerships with funders and partner governments, providing on-the-ground training and support, and convening meetings with funding providers should provide labor, transport, and meeting expenses. In that respect, the Anywhereo Foundation’s budget seems to be consistent with its methods and priorities