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Microloan Foundation USA INC

Tax-deductible

Chestnut Hill, MA501(c)(3)InternationalEIN 42-1751736Revenue $114K in FY2024

On file with the IRSmicroloanfoundationusa.org237 Bonad Rd, 02467-3641 · Chestnut Hill, MATax-exempt since Dec 2010Publicly supported charity — 170(b)(1)(A)(vi)

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The Microloan Foundation is an international development organization that reduces poverty and inequality by providing microfinance services to impoverished women living in remote rural areas in sub-saharan african countries. The organization has assisted approximately 240,000 women and 960,000 children since inception. Microloan Foundation USA is the fundraising arm for these purposes.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2024 · 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
3 of 5
filings with a surplus
Average deficit $4K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $30K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$450
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$114K
+5% vs prior year
Spent
$145K
To programs
93%
Net assets
$18K
By yearFY2020–FY2024
Revenue
$114K
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$32K
FY2021$85K
FY2022$158K
FY2023$109K
FY2024$114K
Expenses
$145K
FY2024▲ +35%
Tap a bar for its year
Expenses by fiscal year
FY2020$29K
FY2021$95K
FY2022$142K
FY2023$108K
FY2024$145K
Net assets
$18K
FY2024▼ -64%
Tap a bar for its year
Net assets by fiscal year
FY2020$41K
FY2021$31K
FY2022$48K
FY2023$49K
FY2024$18K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2010.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $135K Management & general 7% · $10K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation
Steven Mark
President
$0Pt VII · Sec A
Dan Healy
Treasurer
$0Pt VII · Sec A
Rokaya Helfer
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Matt Zalosh
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Microloan Foundation USA INC executive salaries →

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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 15aNo

Programs and updates

Provides small loans to impoverished rural women in Africa to reduce poverty and inequality.

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Provided by the organization

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2 programs · $135K · in their own filed words · FY2024
01

MLF usa provided funds to be used for microloans to small groups of women who have completed the requisite business training. MLF'S standard loan (average $80 per person) is made to individual women within a group. The group is collectively responsible for repaying the loan.

$135Kprogram expense
02

MLF usa provided funds for business education and training to small groups of women as a prerequisite to receipt of a microloan. The training provides women in sub-saharan african countries with instruction and education in business skills for the benefit of the individual, her family and the community at large.

Pt IX · col B

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 · FY2024
Fidelity Investments Charitable Gift FundFY2024$20K
The Chicago Community TrustFY2024$10K
Total grants receivedfrom 2 funders$30K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$114K
Ln 12
Gifts and grantsLn 1h$109K
Other incomeLn 4–11$5K
Money outPt IX
$145K
Ln 25
Programscol B$135K
Managementcol C$10K
Owns and owesPt X
$18K
net assets · Ln 32
Cash and savingsLn 1–2$18K
Total assetsLn 16$18K
LiabilitiesLn 26$450
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$109K
Other incomeLn 4–11$5K
Total revenueLn 12$114K
Assets in detailPt X, end of year
CashLn 1$18K
Cash and savings togetherLn 1–2$18K
Total assetsLn 16$18K
LiabilitiesLn 26$450
Net assetsLn 32$18K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY24End FY24
Cash and savingsLn 1–2$51K$18K
Total assetsLn 16$51K$18K
LiabilitiesLn 26$2K$450
Net assetsLn 32$49K$18K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$135K$135K
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$3K$3K
Other expenses (24a–d)Ln 24$3K$3K
Total functional expensesLn 25$145K$135K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $114K$145K−$31K$18K 990 PDF
FY2023 $109K$108K$1K$49K 990 PDF
FY2022 $158K$142K$16K$48K 990 PDF
FY2021 $85K$95K−$10K$31K 990 PDF
FY2020 $32K$29K$3K$41K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $114,070 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $107,546$108,811
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $1,610$5,259
I-12 Total revenuePrior year $109,156$114,070
I-13 Grants and similar amounts paidPrior year $100,000$135,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $7,901$10,337
I-18 Total expensesPrior year $107,901$145,337
I-19 Revenue less expensesPrior year $1,255−$31,267
Part VI · Governance 13 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $114,070 across 4 lines filed
VIII-1f All other contributions, gifts and grants$108,811
VIII-1h Total contributions, gifts and grants$108,811
VIII-8 Net income from fundraising eventsExcluded from tax $5,259$5,259
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $5,259$114,070
Part IX · Statement of functional expenses $145,337 across 4 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $135,000$135,000
IX-11c Accounting feesManagement $3,720$3,720
IX-11g Other fees for servicesManagement $3,306$3,306
IX-24 Other expenses (24a–d)Management $3,311$3,311
IX-25 Total functional expensesPrograms $135,000 · Management $10,337 · Fundraising $0$145,337
Part X · Balance sheet $18,078 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $51,287$18,078
X-16 Total assetsStart of year $51,287$18,078
X-17 Accounts payable and accrued expensesStart of year $2,392$450
X-26 Total liabilitiesStart of year $2,392$450
X-27 Net assets without donor restrictionsStart of year $48,895$17,628
X-32 Total net assets or fund balancesStart of year $48,895$17,628
X-33 Total liabilities and net assetsStart of year $51,287$18,078
Part XI · Reconciliation of net assets $17,628 net assets at year end
XI-1 Total revenue$114,070
XI-2 Total expenses$145,337
XI-3 Revenue less expenses−$31,267
XI-4 Net assets at start of year$48,895
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$17,628

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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