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Nonprofiteer
← KIVA MICROFUNDS

Form 990 for tax year 2022

Filed by KIVA MICROFUNDS.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 15 November 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$14,808,996 changed to $34,727,565
Total expenses
$21,067,658 changed to $37,635,582
Contributions and grants received
$13,996,171 changed to $28,358,806
Grants paid
$0 changed to $5,000
Program service revenue
$0 changed to $1,112,794
Investment income
$763,172 changed to $4,083,220
Other revenue
$49,653 changed to $1,172,745
Total assets, end of year
$253,233,825 changed to $238,841,357
Total liabilities, end of year
$219,746,998 changed to $208,098,900
Net assets or fund balances, end of year
$33,486,827 changed to $30,742,457
Program services expenses
$15,278,335 changed to $29,453,041
Management and general expenses
$4,381,431 changed to $5,668,479
Fundraising expenses
$1,407,892 changed to $2,514,062
Program service expenses (Part III)
$15,278,335 changed to $29,453,041

Listed only on the earlier return

  • Annete Promes
  • Matthew Davie

Listed only on the later return

  • Anna Titulaer
  • Annette Promes
  • Bryan Pon
  • Celia Wong
  • Kathleen Guis
  • Kristina S Schwartz
  • Martha Siemers
  • Mathew Flaming
  • Nathan George
  • Pradeep Ragothaman
  • Vishal Ghotge

Listed under a different title

  • Andre Haddad: DIRECTOR then BOARD OF DIRECTOR
  • Christopher Tsakalakis: CHIEF EXECUTIVE OFFICER then CEO
  • Donald Carter: EXECUTIVE VP, PEOPLE & PLACES then EXEC. VP, PEOPLE & PLACES
  • Jason Eyler: CHIEF PRODUCT OFFICER then FORMER EXECUTIVE VICE PRESIDENT, MARKETPLACE
  • John Muller: DIRECTOR then BOARD OF DIRECTOR
  • Julie Hanna Farris: DIRECTOR then BOARD OF DIRECTOR
  • Maya Chorengel: DIRECTOR then BOARD OF DIRECTOR
  • Reid Hoffman: DIRECTOR then BOARD OF DIRECTOR
  • Sarah Marchal Murray: CHIEF OFFICER, STRATEGIC P then CHIEF OFFICER, STRATEGIC PARTNERSHIPS
  • Silvija Martincevic: DIRECTOR then BOARD OF DIRECTOR

Totals

Total revenue
$14,808,996
Total expenses
$21,067,658
Contributions and grants received
$13,996,171
Grants paid
$0
Program service revenue
$0
Investment income
$763,172
Other revenue
$49,653
Total assets, end of year
$253,233,825
Total liabilities, end of year
$219,746,998
Net assets or fund balances, end of year
$33,486,827
Program services expenses (Part IX)
$15,278,335
Management and general expenses
$4,381,431
Fundraising expenses
$1,407,892
Program service expenses (Part III)
$15,278,335

Program services were 72.5% 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

    $13,996,171

  • 3 · Investment income

    total $779,772 · excluded $779,772

  • 7b · Less cost or other basis and sales expenses

    other assets $16,600

  • 7c · Gain or loss

    other assets -$16,600

  • 7d · Net gain or loss

    total -$16,600 · related or exempt -$16,600

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $35,341 · related or exempt $35,341

  • 11b · Other revenue: CURRENCY GAIN

    total $14,312 · related or exempt $14,312

  • 11e · Other revenue, total

    $49,653

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,265,601 · program services $1,002,968 · management and general $134,851 · fundraising $127,782

  • 7 · Other salaries and wages

    total $7,401,976 · program services $5,527,381 · management and general $1,005,968 · fundraising $868,627

  • 8 · Pension plan contributions

    total $288,262 · program services $228,674 · management and general $31,078 · fundraising $28,510

  • 9 · Other employee benefits

    total $792,028 · program services $659,481 · management and general $52,064 · fundraising $80,483

  • 10 · Payroll taxes

    total $871,481 · program services $690,082 · management and general $92,782 · fundraising $88,617

  • 11b · Fees: legal

    total $38,782 · program services $4,638 · management and general $34,144

  • 11c · Fees: accounting

    total $75,271 · program services $45,333 · management and general $29,938

  • 11g · Fees: other

    total $326,926 · program services $106,570 · management and general $220,356

  • 12 · Advertising and promotion

    total $783,110 · program services $144,221 · management and general $638,772 · fundraising $117

  • 13 · Office expenses

    total $63,007 · program services $35,634 · management and general $25,755 · fundraising $1,618

  • 14 · Information technology

    total $1,475,375 · program services $1,010,530 · management and general $337,412 · fundraising $127,433

  • 16 · Occupancy

    total $445,866 · program services $355,438 · management and general $48,764 · fundraising $41,664

  • 17 · Travel

    total $103,462 · program services $60,816 · management and general $23,114 · fundraising $19,532

  • 20 · Interest

    total $335,466 · management and general $335,466

  • 22 · Depreciation, depletion and amortization

    total $1,453,130 · program services $1,441,476 · management and general $11,592 · fundraising $62

  • 23 · Insurance

    total $133,426 · program services $38,920 · management and general $89,112 · fundraising $5,394

  • 24a · Other expenses: CONTRACTORS

    total $3,306,607 · program services $2,177,413 · management and general $1,123,952 · fundraising $5,242

  • 24b · Other expenses: ORIGINATION FEE

    total $941,015 · program services $941,015

  • 24c · Other expenses: DISTRIBUTIONS

    total $211,513 · program services $211,513 · management and general $0 · fundraising $0

  • 24d · Other expenses: CRF OPERATING EXPENSES

    total $200,938 · program services $200,938 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $554,416 · program services $395,294 · management and general $146,311 · fundraising $12,811

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $35,246,758 · end of year $31,226,832

  • 2 · Savings and temporary cash investments

    beginning of year $51,886,736 · end of year $48,522,932

  • 3 · Pledges and grants receivable

    beginning of year $634,257 · end of year $0

  • 4 · Accounts receivable

    beginning of year $100,711,262 · end of year $105,907,194

  • 7 · Other notes and loans receivable

    beginning of year $51,017,271 · end of year $62,359,089

  • 9 · Prepaid expenses and deferred charges

    beginning of year $874,159 · end of year $882,491

  • 10a · Land, buildings and equipment: cost or other basis

    $28,606,986

  • 10b · Land, buildings and equipment: accumulated depreciation

    $24,873,973

  • 10c · Land, buildings and equipment, net

    beginning of year $3,971,282 · end of year $3,733,013

  • 11 · Investments: publicly traded securities

    beginning of year $671,805 · end of year $0

  • 13 · Investments: program-related

    beginning of year $115,017 · end of year $268,621

  • 14 · Intangible assets

    beginning of year $25,000 · end of year $25,000

  • 15 · Other assets

    beginning of year $219,182 · end of year $308,653

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,999,631 · end of year $5,611,987

  • 19 · Deferred revenue

    beginning of year $188,400 · end of year $378,838

  • 24 · Unsecured notes and loans payable

    beginning of year $163,760,985 · end of year $178,092,640

  • 25 · Other liabilities

    beginning of year $37,674,270 · end of year $35,663,533

  • 27 · Net assets without donor restrictions

    beginning of year $25,218,547 · end of year $16,699,412

  • 28 · Net assets with donor restrictions

    beginning of year $14,530,896 · end of year $16,787,415

Mission and programs · 2022

Mission

KIVA IS A NON-PROFIT ORGANIZATION WITH A MISSION TO EXPAND FINANCIAL ACCESS TO HELP UNDERSERVED COMMUNITIES THRIVE BY PROVIDING AN ONLINE PLATFORM THAT FACILITATES MICROLOANS GLOBALLY; BEING A MANAGER OF IMPACT INVESTMENT FUNDS (AS AN EXEMPT REPORTING ADVISER).

Activities or mission (Part I)

KIVA IS A NON-PROFIT ORGANIZATION WITH A MISSION TO EXPAND FINANCIAL ACCESS TO HELP UNDERSERVED COMMUNITIES THRIVE BY PROVIDING AN ONLINE PLATFORM THAT FACILITATES MICROLOANS GLOBALLY; BEING A DEVELOPER OF A BLOCKCHAIN BASED DIGITAL ID PLATFORM TO PROMOTE FINANCIAL INCLUSION; BEING A MANAGER OF IMPACT INVESTMENT FUNDS (AS AN EXEMPT REPORTING ADVISER).

  • KIVA PARTNERS WITH OVER 295 GLOBAL MICROFINANCE INSTITUTIONS ("MFIS") AND OTHER SOCIALLY MINDED ORGANIZATIONS AND ENTERPRISES IN NINETY FOUR (94) COUNTRIES ACROSS THE GLOBE. THIS NETWORK OF PARTNERSHIPS ENABLES KIVA TO CONNECT WITH BORROWERS SEEKING MICRO-LOANS. KIVA'S PARTNER ORGANIZATIONS ARE RESPONSIBLE FOR SELECTING AND VETTING THE BORROWERS AND ADMINISTRATING THE LOANS. KIVA'S ONLINE PLATFORM CONNECTS THESE BORROWERS WITH OVER 1.7 MILLION INDIVIDUALS TO DATE WHO WANT TO CONTRIBUTE LOAN FUNDS VIA THE INTERNET.IN 2012, KIVA INITIATED MORE CONCERTED WORK ON A PILOT PROGRAM (FORMERLY "KIVA ZIP" NOW RENAMED "KIVA US"), DESIGNED TO TEST THE FEASIBILITY OF FACILITATING MICROFINANCE LOANS FROM KIVA USERS MOREDIRECTLY TO KIVA BORROWERS VIA A SEPARATE WEBSITE URL (ZIP.KIVA.ORG). IN 2016, THE KIVA US WEBSITE WAS INTEGRATED INTO THE MAIN KIVA.ORG WEBSITE.KIVA CREATED KIVA- DAF, LLC ("KDAF") IN 2013 TO HOLD DONOR ADVISED FUND ACCOUNTS, KIVA IMPACT FUNDS LLC ("KIF") IN 2016 TO FACILITATE MICROLOANS MADE WITH CAPITAL FROM OPIC.KIVA CAPITAL MANAGEMENT WAS CREATED IN 2019 TO BE A MANAGER OF IMPACT INVESTMENT FUNDS (AS AN EXEMPT REPORTING ADVISOR), SUCH AS KIVA REFUGEE INVESTMENT FUND LLC.CALIFORNIA REBUILDING FUND LLC (CASE B-SPV LLC, CASE G-SPV) AND SMALL BUSINESS RESILIENCE FUND LLC WERE INITIATED IN 2020 TO PROVIDE SUPPORT TO SMALL BUSINESSES IMPACTED BY COVID-19 IN CALIFORNIA AND INTERNATIONAL LOCATIONS.JURNUS LLC WAS CREATED IN LATE 2020 TO HOUSE OUR BLOCKCHAIN-RELATED WORK WITH DIEM IN SUPPORT OF GLOBAL FINANCIAL INCLUSION.

    Expenses $15,278,335

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Julie Hanna Farris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Reid Hoffman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Muller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maya Chorengel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andre Haddad

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Silvija Martincevic

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Christopher Tsakalakis

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $0
    Hours/week
    40

  • Jason Eyler

    CHIEF PRODUCT OFFICER

    Total calculated
    $0
    Hours/week
    40

  • Austin Choi

    GENERAL COUNSEL

    Total calculated
    $0
    Hours/week
    40

  • Matthew Davie

    CHIEF STRATEGY OFFICER

    Total calculated
    $0
    Hours/week
    40

  • Chad Sterbenz

    CHIEF INVESTMENT OFFICER

    Total calculated
    $0
    Hours/week
    40

  • Sarah Marchal Murray

    CHIEF OFFICER, STRATEGIC P

    Total calculated
    $0
    Hours/week
    40

  • Donald Carter

    EXECUTIVE VP, PEOPLE & PLACES

    Total calculated
    $0
    Hours/week
    40

  • Annete Promes

    CHIEF MARKETING OFFICER

    Total calculated
    $0
    Hours/week
    40

  • Elizabeth Ray

    CHIEF FINANCIAL OFFICER

    Total calculated
    $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.

Grants on this return

No itemized grants to organizations on this return.

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.

  • KIVA USER FUNDS LLC

    FBO ACCOUNT HOLDER · CA · income $0 · assets $161,929,471

    Directly controlled by KIVA MICROFUNDS

  • KIVA-DAF LLC

    DONOR ADVISED FUND ACCOUNT · DE · income $1,185,238 · assets $9,260,608

    Directly controlled by KIVA MICROFUNDS

  • KIVA IMPACT FUNDS LLC

    IMPACT INVESTMENT FUND SUPPORTING REFUGEES · DE · income $0 · assets $0

    Directly controlled by KIVA MICROFUNDS

  • KIVA PROTOCOL LLC

    BLOCKCHAIN-BASED DIGITAL ID TECHNOLOGY · DE · income $0 · assets $0

    Directly controlled by KIVA MICROFUNDS

  • KIVA CAPITAL MANAGEMENT LLC

    IMPACT INVESTMENT FUND MANAGER · DE · income $533,136 · assets $2,153,487

    Directly controlled by KIVA MICROFUNDS

  • CALIFORNIA REBUILDING FUND LLC

    CALIFORNIA FUND FOR SMALL BUSINESSES (COVID-19 RESPONSE) · DE · income $831,367 · assets $62,459,315

    Directly controlled by KIVA MICROFUNDS

  • CASE B-SPV LLC

    CALIFORNIA FUND FOR SMALL BUSINESSES (COVID-19 RESPONSE) · DE · income $0 · assets $0

    Directly controlled by KIVA MICROFUNDS

  • CASE G-SPV LLC

    CALIFORNIA FUND FOR SMALL BUSINESSES (COVID-19 RESPONSE) · DE · income $0 · assets $0

    Directly controlled by KIVA MICROFUNDS

  • JURNUS LLC

    BLOCKCHAIN-RELATED WORK WITH DEIM · DE · income $0 · assets $0

    Directly controlled by KIVA MICROFUNDS

Provenance

Return type
form_990
Tax year
2022
Filed
13 February 2023
IRS schema version
2022v4.1
Source object
202340459349300829

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