To promote the equitable development of post-Apartheid South Africa and neighboring countries by guaranteeing bank loans to low-income borrowers so that they may support their families, build or expand their dwellings or start businesses which in turn generate employment for others in their communities.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$353K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $99K a year · 8% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$353K
to officers and key staff · 27% of spending
Worth a look: pay to officers and key staff is 27% of spending; over 20%.
Pt VII · Sec A
4 mo
of spending, in cash
Plus $14.4M in investments, Pt X · Ln 11–13
Looks good: 4.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $110K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$12.3M
80% of total assets
Worth a look: liabilities are 80% of assets; over 65%.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
-0.3% vs prior year
Spent
$1.3M
To programs
78%
Net assets
$3.0M
By yearFY2020–FY2024
Revenue
$1.5M
FY2021-0.3%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.5M
FY2021$1.5M
FY2022$1.2M
FY2023$1.2M
FY2024$1.0M
Expenses
$1.3M
FY2021▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.3M
FY2022$1.6M
FY2023$1.3M
FY2024$1.3M
Net assets
$3.0M
FY2021▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.2M
FY2021$3.0M
FY2022$2.0M
FY2023$2.0M
FY2024$1.8M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1995.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $1.0M Management & general 7% · $95K Fundraising 15% · $196K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

22 people listed on the 990; $353K paid to officers and key staff.

Part VII, Section A · reportable compensation
Director of Strategic Partnerships
$127,680Pt VII · Sec A
Executive Director & Officer
$123,333Pt VII · Sec A
Director of Individual Giving
$102,233Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Ann McMikel’s $185K as Executive Director is at the 71st percentile of top reported officer pay among 1168 $1–10M international nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Ann McMikel$185,000$185,000$185,000$123,333—
Martha Brantley——$109,623$127,680$115,566
Casey Cline————$110,160
Shukura Shears$106,187$106,187$106,187$102,233—
Donna Katzin————$44,015

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Guarantees bank loans for low-income individuals in Southern Africa to foster development and create jobs.

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Provided by the organization

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1 program · $1.0M · in their own filed words · FY2021
01

During the 2021 tax year, the organization had outstanding as many as 10 agreements guaranteeing commercial loans to small and growing businesses, agricultural enterprises and micro-finance institutions n the Southern Africa region.

$1.0Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$110K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$955K
Other incomeLn 4–11$269K
Fees for servicesLn 2g$173K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.0M
Managementcol C$95K
Fundraisingcol D$196K
Owns and owesPt X
$3.0M
net assets · Ln 32
Cash and savingsLn 1–2$466K
Total assetsLn 16$15.3M
LiabilitiesLn 26$12.3M
PeoplePt VI, VII
22
listed · VII A
PaidVII A3
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$955K
Government grantsLn 1e$0
Noncash giftsLn 1g$7K
Fundraising eventsLn 1c$259K
Fees for servicesLn 2g$173K
Investment incomeLn 3$112K
Other incomeLn 4–11$269K
Gains on assetsLn 7$13K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$74
SavingsLn 2$466K
Cash and savings togetherLn 1–2$466K
InvestmentsLn 11–13$14.4M
Land, buildings, equipmentLn 10c$11K
Other assetsLn 15$225K
Total assetsLn 16$15.3M
LiabilitiesLn 26$12.3M
Net assetsLn 32$3.0M
OperationsPt I, VI
EmployeesI 56
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$370K$466K
InvestmentsLn 11–13$14.7M$14.4M
Land, buildings, equipmentLn 10c$8K$11K
Total assetsLn 16$15.4M$15.3M
LiabilitiesLn 26$12.2M$12.3M
Net assetsLn 32$3.2M$3.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$123K$98K$7K$18K
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$394K$313K$22K$59K
Pension plan contributionsLn 8$12K$9K$656$2K
Other employee benefitsLn 9$49K$39K$3K$7K
Payroll taxesLn 10$46K$36K$3K$7K
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$16K$16K$0$0
Accounting feesLn 11c$43K$21K$21K$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$59K$59K
Investment management feesLn 11f$0$0$0$0
Other fees for servicesLn 11g$131K$113K$18K$0
Advertising and promotionLn 12$89K$73K$16K
Office expensesLn 13$20K$16K$1K$3K
Information technologyLn 14$5K$4K$272$733
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$107K$85K$6K$16K
TravelLn 17$5K$4K$0$443
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$5K$5K$0$0
InterestLn 20$160K$160K$0$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$3K$2K$151$407
InsuranceLn 23$13K$10K$714$2K
Other expenses (24a–d)Ln 24$49K$31K$13K$5K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$1.3M$1.0M$95K$196K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.0M$1.3M−$279K$1.8M 990 PDF
FY2023 $1.2M$1.3M−$125K$2.0M 990 PDF
FY2022 $1.2M$1.6M−$390K$2.0M 990 PDF
FY2021 Viewing $1.5M$1.3M$183K$3.0M 990 PDF
FY2020 $1.5M$1.4M$114K$3.2M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $1,510,190 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,179,595$955,239
I-9 Program service revenuePrior year $217,787$173,247
I-10 Investment incomePrior year $113,778$112,383
I-11 Other revenuePrior year $3,680$269,321
I-12 Total revenuePrior year $1,514,840$1,510,190
I-13 Grants and similar amounts paidPrior year $224,058$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $569,777$623,751
I-16a Professional fundraising feesPrior year $75,000$59,000
I-17 Other expensesPrior year $531,778$644,870
I-18 Total expensesPrior year $1,400,613$1,327,621
I-19 Revenue less expensesPrior year $114,227$182,569
Part VI · Governance 21 of 21 board members independent, no flags
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,510,190 across 16 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$258,744
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$696,495
VIII-1g Noncash contributions (included above)$6,588
VIII-1h Total contributions, gifts and grants$955,239
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $173,247 · Unrelated business $0 · Excluded from tax $0$173,247
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $99,515$99,515
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $12,868$12,868
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $0 · Excluded from tax $269,321$269,321
VIII-12 Total revenueRelated to mission $173,247 · Unrelated business $0 · Excluded from tax $381,704$1,510,190
Part IX · Statement of functional expenses $1,327,621 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $97,995 · Management $6,854 · Fundraising $18,483$123,332
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $312,840 · Management $21,882 · Fundraising $59,007$393,729
IX-8 Pension plan contributionsPrograms $9,385 · Management $656 · Fundraising $1,770$11,811
IX-9 Other employee benefitsPrograms $38,947 · Management $2,724 · Fundraising $7,346$49,017
IX-10 Payroll taxesPrograms $36,440 · Management $2,549 · Fundraising $6,873$45,862
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $15,597 · Management $0 · Fundraising $0$15,597
IX-11c Accounting feesPrograms $21,442 · Management $21,442 · Fundraising $0$42,884
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $59,000$59,000
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $113,400 · Management $17,856 · Fundraising $0$131,256
IX-12 Advertising and promotionPrograms $72,706 · Fundraising $16,038$88,744
IX-13 Office expensesPrograms $15,985 · Management $1,077 · Fundraising $3,155$20,217
IX-14 Information technologyPrograms $3,887 · Management $272 · Fundraising $733$4,892
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $85,346 · Management $5,969 · Fundraising $16,098$107,413
IX-17 TravelPrograms $4,290 · Management $0 · Fundraising $443$4,733
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $5,059 · Management $0 · Fundraising $0$5,059
IX-20 InterestPrograms $159,781 · Management $0 · Fundraising $0$159,781
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $2,156 · Management $151 · Fundraising $407$2,714
IX-23 InsurancePrograms $10,210 · Management $714 · Fundraising $1,926$12,850
IX-24 Other expenses (24a–d)Programs $31,258 · Management $12,637 · Fundraising $4,835$48,730
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $1,036,724 · Management $94,783 · Fundraising $196,114$1,327,621
Part X · Balance sheet $15,315,615 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $304$74
X-2 Savings and temporary cash investmentsStart of year $369,635$465,507
X-3 Pledges and grants receivableStart of year $41,200$160,900
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $113,956$19,517
X-10c Land, buildings and equipment, netStart of year $7,769$10,599
X-11 Publicly traded securitiesStart of year $1,924,672$1,842,437
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $12,747,284$12,591,969
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $147,870$224,612
X-16 Total assetsStart of year $15,352,690$15,315,615
X-17 Accounts payable and accrued expensesStart of year $89,951$101,887
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $12,057,200$12,157,500
X-25 Other liabilitiesStart of year $40,902$37,876
X-26 Total liabilitiesStart of year $12,188,053$12,297,263
X-27 Net assets without donor restrictionsStart of year $3,153,937$2,997,652
X-28 Net assets with donor restrictionsStart of year $10,700$20,700
X-32 Total net assets or fund balancesStart of year $3,164,637$3,018,352
X-33 Total liabilities and net assetsStart of year $15,352,690$15,315,615
Part XI · Reconciliation of net assets $3,018,352 net assets at year end
XI-1 Total revenue$1,510,190
XI-2 Total expenses$1,327,621
XI-3 Revenue less expenses$182,569
XI-4 Net assets at start of year$3,164,637
XI-5 Net unrealized gains (losses) on investments−$328,854
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,018,352

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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