Totals
- Total revenue
- $6,705,830
- Total expenses
- $7,743,692
- Contributions and grants received
- $690,784
- Grants paid
- $0
- Program service revenue
- $5,025,646
- Investment income
- $173,818
- Other revenue
- $815,582
- Total assets, end of year
- $92,298,717
- Total liabilities, end of year
- $84,541,007
- Net assets or fund balances, end of year
- $7,757,710
- Program services expenses (Part IX)
- $6,064,383
- Management and general expenses
- $1,465,613
- Fundraising expenses
- $213,696
- Program service expenses (Part III)
- $6,064,383
Program services were 78.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$690,784
-
2a · Program service revenue: FINANCIAL SERVICE PROVIDER LOANS
total $4,384,563 · related or exempt $4,384,563
-
2b · Program service revenue: SMALL GROWING BUSINESS LOANS
total $641,083 · related or exempt $641,083
-
3 · Investment income
total $173,818 · excluded $173,818
-
11a · Other revenue: CREDIT LOSS RECOVERIES
total $813,190 · related or exempt $813,190
-
11b · Other revenue: FOREIGN CURRENCY TRANSLATION GAIN
total $2,392 · related or exempt $2,392
-
11e · Other revenue, total
$815,582
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $1,031,749 · program services $726,639 · management and general $217,936 · fundraising $87,174
-
7 · Other salaries and wages
total $1,382,459 · program services $1,179,193 · management and general $145,190 · fundraising $58,076
-
8 · Pension plan contributions
total $22,030 · program services $17,798 · management and general $3,023 · fundraising $1,209
-
9 · Other employee benefits
total $93,020 · program services $65,497 · management and general $19,659 · fundraising $7,864
-
10 · Payroll taxes
total $259,610 · program services $225,386 · management and general $24,446 · fundraising $9,778
-
11b · Fees: legal
total $81,914 · program services $81,816 · management and general $70 · fundraising $28
-
11c · Fees: accounting
total $180,294 · management and general $180,294
-
11f · Fees: investment management
total $45,155 · management and general $45,155
-
11g · Fees: other
total $56,281 · program services $36,583 · management and general $14,070 · fundraising $5,628
-
12 · Advertising and promotion
total $48,599 · program services $39,246 · management and general $6,859 · fundraising $2,494
-
13 · Office expenses
total $37,933 · program services $27,523 · management and general $7,436 · fundraising $2,974
-
14 · Information technology
total $106,666 · program services $69,333 · management and general $26,666 · fundraising $10,667
-
16 · Occupancy
total $33,016 · program services $21,460 · management and general $8,254 · fundraising $3,302
-
17 · Travel
total $137,756 · program services $127,370 · management and general $7,951 · fundraising $2,435
-
19 · Conferences, conventions and meetings
total $62,900 · program services $43,439 · management and general $13,901 · fundraising $5,560
-
20 · Interest
total $2,628,353 · program services $2,628,353
-
23 · Insurance
total $35,712 · program services $23,907 · management and general $8,432 · fundraising $3,373
-
24a · Other expenses: REMEASUREMENT OF GUARAN
total $702,074 · management and general $702,074
-
24b · Other expenses: BAD DEBT EXPENSE
total $659,970 · program services $659,970
-
24c · Other expenses: STRATEGIC INITIATIVES
total $118,232 · program services $76,851 · management and general $29,558 · fundraising $11,823
-
24d · Other expenses: MEMBERSHIP & SUBSCRIPTI
total $12,207 · program services $7,934 · management and general $3,052 · fundraising $1,221
-
24e · All other expenses
total $7,762 · program services $6,085 · management and general $1,587 · fundraising $90
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $10,100,025 · end of year $10,761,442
-
2 · Savings and temporary cash investments
beginning of year $1,988,310 · end of year $2,571,228
-
4 · Accounts receivable
beginning of year $603,266 · end of year $227,943
-
9 · Prepaid expenses and deferred charges
beginning of year $75,148 · end of year $61,506
-
13 · Investments: program-related
beginning of year $58,172,484 · end of year $77,005,937
-
15 · Other assets
beginning of year $6,814,734 · end of year $1,670,661
-
17 · Accounts payable and accrued expenses
beginning of year $232,085 · end of year $438,623
-
22 · Loans and payables to officers and key people
beginning of year $19,772,863 · end of year $8,500,000
-
24 · Unsecured notes and loans payable
beginning of year $48,234,583 · end of year $73,887,940
-
25 · Other liabilities
beginning of year $609,141 · end of year $1,714,444
-
27 · Net assets without donor restrictions
beginning of year $4,438,971 · end of year $3,195,621
-
28 · Net assets with donor restrictions
beginning of year $4,466,324 · end of year $4,562,089
Mission and programs · 2023
Mission
TO GENERATE ECONOMIC OPPORTUNITIES FOR WOMEN AND FAMILIES IN UNDERSERVED COMMUNITIES THROUGHOUT THE DEVELOPING WORLD.
Activities or mission (Part I)
MCE INVESTS CAPITAL IN ENTERPRISES COMMITTED TO GENERATING SUSTAINABLE LIVELIHOODS.
-
DURING 2023, MCE SOCIAL CAPITAL ISSUED A COMBINED $39.1 MILLION IN NEW LOANS TO 35 FINANCIAL SERVICE PROVIDERS AND SMALL AND GROWING BUSINESSES. AT THE END OF 2023, MCE'S TOTAL OUTSTANDING PORTFOLIO OF LOANS WAS $77.7 MILLION HELD BY 61 FSPS AND SGBS. THIS CAPITAL WILL BE USED TO SUPPORT THE DEVELOPMENT OF BUSINESSES AND SOCIAL ENTERPRISES IN 29 COUNTRIES AROUND THE WORLD. SINCE DISBURSING ITS FIRST LOAN IN 2006, MCE HAS FINANCED LOANS FOR 126 FSPS AND 35 SGBS IN 62 COUNTRIES.
Expenses $6,064,383 · Revenue $5,841,228
As filed on the 2023 return.
Listed in Part VII
-
Camilla NestorCAMILLA NESTOR
CEO
- Total calculated
- $271,994
- From this org
- $251,716
- From related orgs
- $0
- Other
- $20,278
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $226,716
- Bonus
- $25,000
- Other
- $0
- Deferred
- $7,669
- Nontaxable benefits
- $12,609
- Filer's total
- $271,994
-
Gary FordGARY FORD
CHAIRMAN OF THE BOD
- Total calculated
- $0
- Hours/week
- 0.9
-
Ayesha WagleAYESHA WAGLE
BOARD MEMBER, TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
Dan BrunnerDAN BRUNNER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
David LambertDAVID LAMBERT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.4
-
Eric McCallumERIC MCCALLUM
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Jim ChuJIM CHU
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1.8
-
Jim DavidsonJIM DAVIDSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1.8
-
John AyliffeJOHN AYLIFFE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1.7
-
Justin MoralesJUSTIN MORALES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.6
-
Kanini MutooniKANINI MUTOONI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Karen AnsaraKAREN ANSARA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.7
-
Kevin CarnahanKEVIN CARNAHAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1.7
-
Leah Bradford FrancisLEAH BRADFORD FRANCIS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.8
-
Meg StallardMEG STALLARD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.1
-
Nancy SwansonNANCY SWANSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.6
-
Raymond J Dunn Jay DunnRAYMOND J DUNN JAY DUNN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.7
-
Sayuri SharperSAYURI SHARPER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1.8
-
William WayWILLIAM WAY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Genevieve R LlamzonGENEVIEVE R LLAMZON
GENERAL COUNSEL & COO, SECRETARY
- Total calculated
- $186,563
- From this org
- $172,068
- From related orgs
- $0
- Other
- $14,495
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $165,068
- Bonus
- $7,000
- Other
- $0
- Deferred
- $5,231
- Nontaxable benefits
- $9,264
- Filer's total
- $186,563
-
Elena PonsELENA PONS
MANAGING DIRECTOR & CIO
- Total calculated
- $160,005
- From this org
- $160,005
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $154,005
- Bonus
- $6,000
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $160,005
-
Catherine CovingtonCATHERINE COVINGTON
MAN DIR & CHIEF BUS DEV OFFICER
- Total calculated
- $182,952
- From this org
- $159,474
- From related orgs
- $0
- Other
- $23,478
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $152,474
- Bonus
- $7,000
- Other
- $0
- Deferred
- $4,963
- Nontaxable benefits
- $18,515
- Filer's total
- $182,952
-
Marcia MyersMARCIA MYERS
CFO (THRU 11/23)
- Total calculated
- $179,239
- From this org
- $161,029
- From related orgs
- $0
- Other
- $18,210
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $130,167
- Bonus
- $5,000
- Other
- $25,862
- Deferred
- $4,585
- Nontaxable benefits
- $13,625
- Filer's total
- $179,239
-
Molly MernahMOLLY MERNAH
CONTROLLER
- Total calculated
- $139,600
- From this org
- $129,896
- From related orgs
- $0
- Other
- $9,704
- Hours/week
- 40
-
Carolyn HanCAROLYN HAN
INVESTMENT MANAGER
- Total calculated
- $136,700
- From this org
- $125,742
- From related orgs
- $0
- Other
- $10,958
- Hours/week
- 40
-
Christina LukemanCHRISTINA LUKEMAN
DIR OF BUS DEV & COMMUNICATIONS
- Total calculated
- $130,168
- From this org
- $118,792
- From related orgs
- $0
- Other
- $11,376
- Hours/week
- 40
-
Maria RaurellMARIA RAURELL
SENIOR DIRECTOR, INVESTMENT & RISK
- Total calculated
- $110,242
- From this org
- $110,242
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4a · Severance or change-of-control payment
- 7 · Other non-fixed payments
Answered no
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 4A
- MARCIA MYERS RECEIVED RELEASE OF CLAIMS PAYMENTS OF $25,862 AND $7,067 IN 2023 AND 2024, RESPECTIVELY.
- PART I, LINE 7
- THE ORGANIZATION PAYS BONUSES TO SPECIFIC INDIVIDUALS FOR MEETING COMPANY GOALS.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
MCE SOCIAL CAPITAL STICHTING
REDUCE POVERTY · NL · controlled entity
Directly controlled by MCE SOCIAL CAPITAL
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
MCE EMPOWERING SUSTAINABLE AGRICULTURE FUND LLC
LOCAL COMMUNITY INVESTING · CA · income $461,909 · assets $22,016,494
Directly controlled by MCE SOCIAL CAPITAL
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 30 September 2024
- IRS schema version
- 2023v5.1
- Source object
- 202402749349301380
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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