Totals
- Total revenue
- $1,153,728
- Total expenses
- $1,278,233
- Contributions and grants received
- $683,911
- Grants paid
- $0
- Program service revenue
- $281,657
- Investment income
- $229,456
- Other revenue
- -$41,296
- Total assets, end of year
- $12,827,933
- Total liabilities, end of year
- $10,817,714
- Net assets or fund balances, end of year
- $2,010,219
- Program services expenses (Part IX)
- $1,077,066
- Management and general expenses
- $91,139
- Fundraising expenses
- $110,028
- Program service expenses (Part III)
- $1,077,066
Program services were 84.3% 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.
-
1c · Fundraising events
$104,053
-
1f · All other contributions, gifts and grants
$579,858
-
1g · Noncash contributions included above
$99,135
-
2a · Program service revenue: EARNED INTEREST GUARANTEE ACCOUNT
total $214,657 · related or exempt $214,657
-
2b · Program service revenue: GUARANTEE INCOME (L/C FEES)
total $67,000 · related or exempt $67,000
-
3 · Investment income
total $91,034 · excluded $91,034
-
7a · Gross sales of assets other than inventory
securities $4,197,559
-
7b · Less cost or other basis and sales expenses
securities $4,059,137
-
7c · Gain or loss
securities $138,422
-
7d · Net gain or loss
total $138,422 · excluded $138,422
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$104,053
-
8b · Fundraising events: direct expenses
$41,296
-
8c · Net income from fundraising events
total -$41,296 · excluded -$41,296
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $185,000 · program services $146,150 · management and general $11,100 · fundraising $27,750
-
7 · Other salaries and wages
total $249,813 · program services $197,352 · management and general $14,989 · fundraising $37,472
-
9 · Other employee benefits
total $85,067 · program services $67,203 · management and general $5,104 · fundraising $12,760
-
10 · Payroll taxes
total $34,432 · program services $27,201 · management and general $2,066 · fundraising $5,165
-
11b · Fees: legal
total $7,000 · program services $3,500 · management and general $3,500
-
11c · Fees: accounting
total $61,725 · program services $30,862 · management and general $30,863
-
11g · Fees: other
total $458,467 · program services $450,138 · management and general $8,329
-
12 · Advertising and promotion
total $15,996 · program services $15,996
-
13 · Office expenses
total $25,492 · program services $20,139 · management and general $1,529 · fundraising $3,824
-
14 · Information technology
total $6,311 · program services $4,985 · management and general $379 · fundraising $947
-
16 · Occupancy
total $17,301 · program services $13,668 · management and general $1,038 · fundraising $2,595
-
17 · Travel
total $42,562 · program services $38,887 · fundraising $3,675
-
20 · Interest
total $171 · fundraising $171
-
22 · Depreciation, depletion and amortization
total $3,696 · program services $2,920 · management and general $222 · fundraising $554
-
23 · Insurance
total $10,586 · program services $8,363 · management and general $635 · fundraising $1,588
-
24a · Other expenses: SPECIAL EVENT EXPENSE
total $38,609 · program services $26,863 · fundraising $11,746
-
24b · Other expenses: BANK SERVICE CHARGES
total $22,548 · program services $15,107 · management and general $7,441
-
24c · Other expenses: DUES, SUBSCRIPTIONS AND
total $13,223 · program services $7,547 · management and general $3,930 · fundraising $1,746
-
24d · Other expenses: MISCELLANEOUS EXPENSE
total $234 · program services $185 · management and general $14 · fundraising $35
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $327,626 · end of year $50,934
-
2 · Savings and temporary cash investments
end of year $1,067,163
-
3 · Pledges and grants receivable
beginning of year $50,600 · end of year $46,344
-
9 · Prepaid expenses and deferred charges
beginning of year $12,606 · end of year $8,980
-
10a · Land, buildings and equipment: cost or other basis
$31,294
-
10b · Land, buildings and equipment: accumulated depreciation
$22,945
-
10c · Land, buildings and equipment, net
beginning of year $10,201 · end of year $8,349
-
11 · Investments: publicly traded securities
beginning of year $11,906,353 · end of year $8,856,832
-
12 · Investments: other securities
beginning of year $1,855,760 · end of year $2,591,847
-
15 · Other assets
beginning of year $166,976 · end of year $197,484
-
17 · Accounts payable and accrued expenses
beginning of year $137,895 · end of year $85,968
-
24 · Unsecured notes and loans payable
beginning of year $12,102,500 · end of year $10,707,500
-
25 · Other liabilities
beginning of year $42,522 · end of year $24,246
-
27 · Net assets without donor restrictions
beginning of year $2,037,205 · end of year $2,010,219
-
28 · Net assets with donor restrictions
beginning of year $10,000 · end of year $0
Mission and programs · 2023
Mission
THE ORGANIZATION SEEKS TO PROMOTE SOCIAL RECONSTRUCTION IN SOUTH AFRICA AND NEIGHBORING COUNTRIES BY FACILITATING ACCESS TO CREDIT FOR LOW-INCOME BORROWERS THROUGH THE PROVISION OF LOAN GUARANTEES TO MAINSTREAM BANKS AND OTHER FINANCIAL INSTITUTIONS. AS THESE LENDERS HAVE HISTORICALLY BEEN RELUCTANT TO EXTEND CREDIT TO A SECTOR OF THE POPULATION THEY CONSIDER UN-BANKABLE, THE MAJORITY OF SOUTHERN AFRICAN CITIZENS, ABSENT THE GUARANTEES, WOULD CONTINUE TO BE ECONOMICALLY MARGINALIZED.
Activities or mission (Part I)
TO PROMOTE THE EQUITABLE DEVELOPMENT OF POST-APARTHEID SOUTH AFRICA AND NEIGHBORING COUNTRIES BY GUARANTEEING BANK LOANS TO LOW-INCOME BORROWERS SO THAT THEY MAYSUPPORT THEIR FAMILIES, BUILD OR EXPAND THEIR DWELLINGS OR STARTBUSINESSES WHICH IN TURN GENERATE EMPLOYMENT FOR OTHERS IN THEIRCOMMUNITIES.
-
THE ORGANIZATION HAD OUTSTANDING AGREEMENTS GUARANTEEING COMMERCIAL LOANS TO SMALL AND GROWING BUSINESSES, AGRICULTURAL ENTERPRISES AND MICRO-FINANCE INSTITUTIONS IN THE SOUTHERN AFRICA REGION. THE AGGREGATE EXPOSURE INVOLVED IN THE GUARANTEES TOTALED $3,485,000. BECAUSE THE CREDIT FACILITIES ARRANGED BY SHARED INTEREST WERE LIMITED TO NO MORETHAN 75% OF THE LOANS THEY BACKED, THE GUARANTEES ULTIMATELY UNLOCKED TOTAL LENDING OF SUMS IN EXCESS OF THE STATED AMOUNT BY VIRTUE OF THE RISK-SHARING AGREED IN THE CONTRACTS BETWEEN LOCAL INSTITUTIONS AND THE ORGANIZATIONS. ADDITIONALLY, THE GUARANTEE PROGRAM, IMPLEMENTED BY MEANS OF THE PROVEN TRANS-BORDER MECHANISM OF STANDBY BANK LETTERS OF CREDIT, CONTINUED TO GIVE THE CONFIDENCE TO SOUTHERN AFRICAN NON-BANK FINANCIALS INSTITUTIONS AND OTHER ALTERNATIVE LENDERS TO PUT CAPITAL AT RISK IN THE SPHERE OF SMALL BUSINESS FINANCE AND LENDING TO ECONOMICALLY-DISENFRANCHISED INDIVIDUALS. COLLATERALIZING THE LETTERS OF CREDIT, WERE THE US-CUSTODIED INVESTMENTS OF THE ORGANIZATION, FUNDED BY LOANS AND DONATIONS BY AMERICAN INDIVIDUALS, FAMILY FOUNDATIONS, FAITH-BASED INSTITUTIONS. HEALTHCARE SYSTEMS AND OTHER INVESTORS ACCEPTING CONCESSIONARY FINANCIAL RETURNS IN EXCHANGE FOR THE SOCIAL IMPACT THAT THE ORGANIZATION HELPS TO CREATE.
Expenses $1,077,066 · Revenue $281,657
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
SHARRON MCPHERSON
DIRECTOR & CHAIR
- Total calculated
- $0
- Hours/week
- 4
-
DAVID WILDMAN
DIRECTOR & VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 3
-
LOUISE NANKIINGA
DIRECTOR & TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
ADRIENNE BAILEY
DIRECTOR & SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
SANDRA APPIAH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
ALEAH BACQUIE VAUGHN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
JESSICA BENJAMIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
LEA CONRAD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
SCHUYLA GOODSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
DIANE KEEFE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
FAITH KHANYILE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
STACY MANVITZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
SUSAN MARX
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
CHARLOTTE MCCLAIN-NHLAPO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
LINNIE MCLEAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
PALESA MORUDU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
JIM MUNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
SIPHIWE NODWELE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
TIMOTHY SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
CYNTHIA SPENCE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
RICHARD TOLLIVER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
ANN MCMIKEL
EXECUTIVE DIRECTOR
- Total calculated
- $185,000
- From this org
- $185,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $185,000
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $185,000
-
SHUKURA SHEARS
DIR OF INDIVIDUAL GIVING
- Total calculated
- $106,187
- From this org
- $106,187
- From related orgs
- $0
- Other
- $0
- Hours/week
- 45
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
None.
Answered no
- 4a · Severance or change-of-control payment
- 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
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202423209349305792
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.