2024-09-30T16:47:04-05:00 2023-12-31 910189318 MOSS ADAMS LLP 6565 AMERICAS PARKWAY NE STE 600 ALBUQUERQUE NM 87110 990 2023-01-01 203154063 MCE SOCIAL CAPITAL MCES 4152304330 5758 GEARY BLVD 261 SAN FRANCISCO CA 94121 AMY BELL CFO 4152304330 2024-09-30 1 0 PAMELA ALEXANDERSON P01218925 5058787200 2024-09-30 2023 2024-10-15 13:58:12Z GARY FORD 5758 GEARY BLVD 261 SAN FRANCISCO CA 94121 6705830 0 X WWW.MCESOCAP.ORG X 2005 CA MCE INVESTS CAPITAL IN ENTERPRISES COMMITTED TO GENERATING SUSTAINABLE LIVELIHOODS. 19 12 16 37 0 0 5988712 690784 4517400 5025646 123405 173818 974517 815582 11604034 6705830 0 0 0 0 2423978 2788868 0 0 213696 9974013 4954824 12397991 7743692 -793957 -1037862 77753967 92298717 68848672 84541007 8905295 7757710 TO GENERATE ECONOMIC OPPORTUNITIES FOR WOMEN AND FAMILIES IN UNDERSERVED COMMUNITIES THROUGHOUT THE DEVELOPING WORLD. 0 0 6064383 5841228 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. 6064383 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 76 0 1 16 1 0 1 NL 0 0 0 0 0 0 0 0 0 0 X 19 12 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA CO KY MA MD MN NC NH NJ NY OH PA UT VA WA X X AMY BELL 4152304330 5758 GEARY BLVD 261 SAN FRANCISCO CA 94121 CAMILLA NESTOR CEO 40.00 X X 251716 0 20278 GARY FORD CHAIRMAN OF THE BOD 0.90 X X 0 0 0 AYESHA WAGLE BOARD MEMBER, TREASURER 0.50 X X 0 0 0 DAN BRUNNER BOARD MEMBER 2.00 X 0 0 0 DAVID LAMBERT BOARD MEMBER 0.40 X 0 0 0 ERIC MCCALLUM BOARD MEMBER 0.50 X 0 0 0 JIM CHU BOARD MEMBER 1.80 X 0 0 0 JIM DAVIDSON BOARD MEMBER 1.80 X 0 0 0 JOHN AYLIFFE BOARD MEMBER 1.70 X 0 0 0 JUSTIN MORALES BOARD MEMBER 0.60 X 0 0 0 KANINI MUTOONI BOARD MEMBER 0.50 X 0 0 0 KAREN ANSARA BOARD MEMBER 0.70 X 0 0 0 KEVIN CARNAHAN BOARD MEMBER 1.70 X 0 0 0 LEAH BRADFORD FRANCIS BOARD MEMBER 0.80 X 0 0 0 MEG STALLARD BOARD MEMBER 0.10 X 0 0 0 NANCY SWANSON BOARD MEMBER 0.60 X 0 0 0 RAYMOND J DUNN JAY DUNN BOARD MEMBER 0.70 X 0 0 0 SAYURI SHARPER BOARD MEMBER 1.80 X 0 0 0 WILLIAM WAY BOARD MEMBER 1.00 X 0 0 0 GENEVIEVE R LLAMZON GENERAL COUNSEL & COO, SECRETARY 40.00 X 172068 0 14495 ELENA PONS MANAGING DIRECTOR & CIO 40.00 X 160005 0 0 CATHERINE COVINGTON MAN DIR & CHIEF BUS DEV OFFICER 40.00 X 159474 0 23478 MARCIA MYERS CFO (THRU 11/23) 40.00 X 161029 0 18210 MOLLY MERNAH CONTROLLER 40.00 X 129896 0 9704 CAROLYN HAN INVESTMENT MANAGER 40.00 X 125742 0 10958 CHRISTINA LUKEMAN DIR OF BUS DEV & COMMUNICATIONS 40.00 X 118792 0 11376 MARIA RAURELL SENIOR DIRECTOR, INVESTMENT & RISK 40.00 X 110242 0 0 1388964 0 108499 9 0 1 0 0 690784 690784 FINANCIAL SERVICE PROVIDER LOANS 525990 4384563 4384563 SMALL GROWING BUSINESS LOANS 525990 641083 641083 5025646 173818 173818 CREDIT LOSS RECOVERIES 525990 813190 813190 FOREIGN CURRENCY TRANSLATION GAIN 525990 2392 2392 815582 6705830 5841228 0 173818 1031749 726639 217936 87174 1382459 1179193 145190 58076 22030 17798 3023 1209 93020 65497 19659 7864 259610 225386 24446 9778 81914 81816 70 28 180294 180294 45155 45155 56281 36583 14070 5628 48599 39246 6859 2494 37933 27523 7436 2974 106666 69333 26666 10667 33016 21460 8254 3302 137756 127370 7951 2435 62900 43439 13901 5560 2628353 2628353 35712 23907 8432 3373 REMEASUREMENT OF GUARAN 702074 702074 BAD DEBT EXPENSE 659970 659970 STRATEGIC INITIATIVES 118232 76851 29558 11823 MEMBERSHIP & SUBSCRIPTI 12207 7934 3052 1221 7762 6085 1587 90 7743692 6064383 1465613 213696 10100025 10761442 1988310 2571228 603266 227943 75148 61506 58172484 77005937 6814734 1670661 77753967 92298717 232085 438623 19772863 8500000 48234583 73887940 609141 1714444 68848672 84541007 X 4438971 3195621 4466324 4562089 8905295 7757710 77753967 92298717 -1037862 -109723 0 X X 0 1 X 1 1 1 X 2158875 6841752 1660168 5988712 690784 17340291 4391899 4513605 4436281 5491917 5841228 24674930 6550774 11355357 6096449 11480629 6532012 42015221 409147 43375 599294 757096 460124 2269036 0 409147 43375 599294 757096 460124 2269036 39746185 6296 4218 3862 13837 173818 202031 6296 4218 3862 13837 173818 202031 6557070 11359575 6100311 11494466 6705830 42217252 0.94150 0.89880 0.00480 0.00650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 SOCIAL INVESTMENT LOANS 77005937 C 77005937 INTEREST PAYABLE 838987 DERIVATIVE INSTRUMENTS 875457 1714444 X 3170660 -109723 610107 500384 2670276 45155 3990399 4035554 6705830 4318245 610107 610107 3708138 45155 3990399 4035554 7743692 PART X, LINE 2: THE ORGANIZATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND, THEREFORE, THERE IS NO PROVISION FOR INCOME TAXES. IN ADDITION, THE ORGANIZATION QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170 OF THE CODE AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. INCOME DETERMINED TO BE UNRELATED BUSINESS TAXABLE INCOME (UBTI) WOULD BE TAXABLE. THE ORGANIZATION EVALUATES ITS UNCERTAIN TAX POSITIONS, IF ANY, ON A CONTINUAL BASIS THROUGH REVIEW OF ITS POLICIES AND PROCEDURES, REVIEW OF ITS REGULAR TAX FILINGS, AND DISCUSSIONS WITH OUTSIDE EXPERTS. AS OF DECEMBER 31, 2023 AND 2022, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 2,628,355. REMEASUREMENT OF GUARANTOR CONTRIBUTIONS 702,074. LOAN WRITE-OFF 659,970. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 2,628,355. REMEASUREMENT OF GUARANTOR CONTRIBUTIONS 702,074. LOAN WRITE-OFF 659,970. SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 14863544 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 14119228 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 14822825 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 15479512 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 13193347 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 0 PORTFOLIO HUB OFFICE 783463 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 9 PROGRAM SERVICES MCE SOCIAL CAPITAL STICHTING - ACTIVITIES TO REDUCE POVERTY 223898 NORTH AMERICA 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 5423272 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 1 1 PORTFOLIO HUB OFFICE 89477 2 9 1 1 3 10 78909089 89477 78998566 1 0 1 0 0 0 PART I, LINE 3, COLUMN F: METHOD USED TO REPORT TOTAL EXPENDITURES IS THE ACCRUAL METHOD OF ACCOUNTING. SCHEDULE F, PART IV LINE 1: FORM 926 IS NOT REQUIRED TO BE FILED BECAUSE THE TRANSFER TO A FOREIGN CORPORATION DOES NOT MEET THE REPORTING REQUIREMENTS IN THE IRC SEC 6038B(A)(1)(A). X X X 1 0 0 0 0 0 0 1 0 CAMILLA NESTOR CEO 226716 0 25000 0 0 0 7669 0 12609 0 271994 0 0 0 GENEVIEVE R LLAMZON GENERAL COUNSEL & COO, SECRETARY 165068 0 7000 0 0 0 5231 0 9264 0 186563 0 0 0 CATHERINE COVINGTON MAN DIR & CHIEF BUS DEV OFFICER 152474 0 7000 0 0 0 4963 0 18515 0 182952 0 0 0 MARCIA MYERS CFO (THRU 11/23) 130167 0 5000 0 25862 0 4585 0 13625 0 179239 0 0 0 ELENA PONS MANAGING DIRECTOR & CIO 154005 0 6000 0 0 0 0 0 0 0 160005 0 0 0 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. UMSIZIFUND #B-08009 35% CONTROLLED ENTITY BY A SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 500000 500000 0 1 1 SCOTT CSATTERWHITE #A-08026 SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 1000000 1000000 0 1 1 ERIC MCCALLUM #A-08029 CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 200000 200000 0 1 1 UMSIZI FUND - A-08033 35% CONTROLLED ENTITY BY A SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 500000 500000 0 1 1 1999 KAREN KEATING #A-08017 CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 250000 0 1 1 DF IMPACT CAPITAL #A-08051 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 100000 100000 0 1 1 CAMILLA NESTOR #A-08053 CURRENT OFFICER PROVIDE CAPITAL FOR MICROLOANS X 100000 100000 0 1 1 SWIFT FOUNDATION #C-08001 SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 400000 400000 0 1 1 BLINK CV #B-08007 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 1600000 1600000 0 1 1 BLINK CV #B-08007-2 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 400000 400000 0 1 1 GARY FORD #P-10074 CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 250000 0 1 1 DF IMPACT CAPITAL #MI NP - 01001 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 250000 0 1 1 JOHN F SWIFT TTEE #MI NP-01003 SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 250000 0 1 1 BLINK #MI SUB - 01013 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 1700000 1700000 0 1 1 LEWIS TRUST #C-08003 35% CONTROLLED ENTITY OF FOUNDER PROVIDE CAPITAL FOR MICROLOANS X 1000000 1000000 0 1 1 8500000 FORM 990, PART VI, SECTION A, LINE 2 JAY DUNN (DIRECTOR) HAS A BUSINESS RELATIONSHIP WITH JIM CHU (DIRECTOR) AND JIM DAVIDSON (DIRECTOR). FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 IS PRESENTED TO MANAGEMENT FOR REVIEW. ONCE MANAGEMENT HAS MADE ANY NECESSARY CHANGES, THE FORM 990 IS SUBMITTED TO THE AUDIT COMMITTEE FOR APPROVAL. THE AUDIT COMMITTEE INCLUDES, BUT IS NOT LIMITED TO, MEMBERS OF THE BOARD. IT IS ELECTED BY THE BOARD TO ASSIST THE BOARD IN FULFILLING ITS OVERSIGHT RESPONSIBILITIES BY REVIEWING: THE FINANCIAL REPORTS AND OTHER FINANCIAL INFORMATION PROVIDED BY THE ORGANIZATION TO ANY GOVERNMENTAL BODY OR THE PUBLIC; THE ORGANIZATION'S SYSTEMS OF INTERNAL CONTROLS REGARDING FINANCE, ACCOUNTING, AND LEGAL COMPLIANCE THAT MANAGEMENT AND THE BOARD HAVE ESTABLISHED; AND THE CORPORATION'S AUDITING, ACCOUNTING AND FINANCIAL REPORTING PROCESSES IN GENERAL. A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO THE BOARD PRIOR TO FILING ELECTRONICALLY. FORM 990, PART VI, SECTION B, LINE 12C MCE HAS A WRITTEN CONFLICT OF INTEREST POLICY, WHICH IS POSTED ON ITS WEBSITE. ACCORDING TO THE POLICY, ALL MEMBERS, OFFICERS, COMMITTEE MEMBERS (INCLUDING ADVISORY MEMBERS), EMPLOYEES AND OTHER PERSONS DESIGNATED BY THE MEMBERS AS SUBJECT TO THE POLICY ARE REQUIRED TO REVIEW AND SIGN MCE'S CONFLICT OF INTEREST POLICY EACH YEAR. BOARD MEMBERS AND STAFF MEMBERS ARE REQUIRED TO SIGN THE STATEMENT AT THE BEGINNING OF EACH FISCAL YEAR. IF A POTENTIAL CONFLICT OF INTEREST IS DISCOVERED, THE INDIVIDUAL WITH THE CONFLICT SHALL NOT PARTICIPATE OR BE PERMITTED TO HEAR THE MEMBERS' DISCUSSIONS OR VOTE. IN ADDITION, THE MEMBERS SHALL DECIDE BY MAJORITY VOTE WHETHER OR NOT AN ACTUAL CONFLICT EXISTS. IF THE MEMBERS FIND THAT A CONFLICT OF INTEREST DOES EXIST, A DISINTERESTED PERSON WILL BE APPOINTED TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION. THE MEMBERS WILL THEN DETERMINE A REASONABLE SOLUTION. FORM 990, PART VI, SECTION B, LINE 15 THE SALARIES OF MCE'S OFFICERS ARE SET BY THE CEO BASED ON COMPARABLE SALARIES, EMPLOYEE QUALIFICATIONS, THE REQUIREMENTS OF THE POSITION, AND PROFESSIONAL JUDGMENT. IN 2020, THE BOARD OF DIRECTORS FORMED A COMPENSATION COMMITTEE TO SET THE SALARY FOR THE CEO, AND WILL CONTINUE TO MANAGE THE SALARY OF THE CEO GOING FORWARD. THE SALARIES OF THE OTHER OFFICERS WILL CONTINUE TO BE SET BY THE CEO BASED ON THE SAME STANDARDS AS PREVIOUSLY USED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC VIA ITS WEBSITE. PART XII, LINE 2C NO CHANGE FROM PRIOR PERIOD. MCE EMPOWERING SUSTAINABLE AGRICULTURE FUND LLC 5758 GEARY BLVD STE 261 SAN FRANCISCO CA 94121 883971937 LOCAL COMMUNITY INVESTING CA 461909 22016494 MCE SOCIAL CAPITAL MCE SOCIAL CAPITAL STICHTING KEIZERSGRACHT 391 A 1016 EJ AMSTERDAM NL REDUCE POVERTY NL MCE SOCIAL CAPITAL 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0