2024-11-08T13:06:42+00:00 2023-12-31 440160260 Forvis Mazars LLP 135 West 50th Street New York NY 10020 990 2023-01-01 133568629 Financial Services Volunteer Corps Inc FINA 2127711400 10 EAST 53RD STREET 36th FL NEW YORK NY 10022 John D Pompay CFO/COO 2127711400 2024-11-08 true true Aaron Shapiro P01333816 2128127000 2024-11-08 2023 2024-10-15 13:58:12Z JOHN D POMPAY 10 EAST 53RD STREET 36TH FL NEW YORK NY 10022 11764665 false X WWW.FSVC.ORG X 1990 DE FSVC'S MISSION IS TO HELP BUILD SOUND FINANCIAL SECTORS TO SUPPORT HEALTHY MARKET-ORIENTED ECONOMIES IN DEVELOPING AND EMERGING MARKET COUNTRIES. 13 12 16 178 0 0 9871124 11475053 356502 267616 17298 21996 0 10244924 11764665 463972 902179 0 4436382 5488781 0 4645 4343710 4927821 9244064 11318781 1000860 445884 10031990 9908156 7321993 6496566 2709997 3411590 X See Schedule O true false 3015033 109630 See Schedule O 1354538 14797 See Schedule O 681778 See Schedule O 4535452 777752 267616 The other FSVC's Programs included the following: Tunisia, Jordan, Albania (2 programs), Tajikistan (3 programs), Iraq (2 programs) Algeria, Mauritania, Panama, Counter Malign Influence, Pacific Islands, DRC/INL, Sudan. Total Expenses included 3 New Program expenses. 4535452 777752 267616 9586801 true true false false false false false false true true false false true true false true false false true true true false false false false false false false true false false false false false false false false false false false false false false false false false true X 17 0 false 16 true false true NG TI TS false false false false false false false false false false X 13 12 false false false false true true true true true false false true true true true true true true true false NY X JOHN D POMPAY 2127711400 10 EAST 53RD STREET 36TH FLOOR NEW YORK NY 10022 J Andrew Spindler President and CEO 40.0 X X 598730 0 92362 Julian C Schroeder Chairman and Treasurer 1.0 X X 0 0 0 William Mills Vice Chairman 1.0 X X 0 0 0 Adam J Szubin Director 1.0 X 0 0 0 Carla A Hills Director 1.0 X 0 0 0 Jill M Considine Director 1.0 X 0 0 0 John L Douglas Director 1.0 X 0 0 0 John L Walker Director 1.0 X 0 0 0 Paul Tucker Director 1.0 X 0 0 0 Randall D Guynn Director 1.0 X 0 0 0 Reuben Jeffery III Director 1.0 X 0 0 0 Robert L Clarke Director 1.0 X 0 0 0 Sabine Lautenschlager Director 1.0 X 0 0 0 John D Pompay Chief Financial and Operating Officer 40.0 X 329207 0 92276 Andrea Perraud Managing Director 40.0 X 278397 0 90213 Bella Oks Senior Accounting Officer 40.0 X 119361 0 31721 Camille Jagueneau-Siegel Director 40.0 X 140023 0 60068 Edward Sia Director 40.0 X 159189 0 84126 Nancy B Unklesbay Director 40.0 X 113167 0 28177 1738074 0 478943 8 false true false Charles E Kilbourne 165 Daketown Road Greenfield Center NY 12833 Managing Oversea Programs 209921 1 11211244 263809 11475053 FEES FOR SERVICE 541900 267616 267616 0 0 0 0 267616 21996 21996 0 0 0 0 0 0 0 0 0 11764665 267616 0 21996 X 902179 902179 1112575 845553 267022 3392482 2567258 825224 55985 43462 12523 486172 377424 108748 441567 338741 102826 14132 14132 85732 85732 1370528 1330620 39908 0 4609 4473 136 486565 403355 79482 3728 824493 730605 93888 1426128 1340559 85453 116 569975 569686 289 44282 42072 2210 MISCELLANEOUS 101377 90814 9762 801 0 0 0 0 11318781 9586801 1727335 4645 636527 401483 575599 917750 1016984 1029743 188600 193899 0 0 0 0 71830 139991 224451 224451 0 0 1866287 2149521 0 0 5676163 5075769 10031990 9908156 977427 936979 16715 86730 0 0 400000 200000 5927851 5272857 7321993 6496566 2495715 3213330 214282 198260 2709997 3411590 10031990 9908156 X 445884 271722 -16013 X false true X true true true X 6803258 6683931 7518714 9871124 11475053 42352080 0 0 6803258 6683931 7518714 9871124 11475053 42352080 0 42352080 56578 32978 41838 17298 21996 170688 0 0 0 0 0 0 0 42522768 1660570 0.9960 0.9959 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1520367 209041 1729408 1669275 -148908 1520367 1503383 165892 1669275 1432702 70681 1503383 1410754 21948 1432702 1.0 0.0 0.0 false false 224451 224451 0 0 Security Deposits 235051 Net Right of Use Assets 4829293 Other Assets 11425 5075769 Lease Liabilities 5272857 5272857 16272187 271722 4235800 0 4507522 11764665 0 0 11764665 15570594 4235800 16013 4251813 11318781 0 0 11318781 Schedule D, Part X, Line 2 ASC 740 FOOTNOTE: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part V, Line 4 Intended uses of endowment funds FUNDS IN THE JOHN WHITEHEAD MEMORIAL SOCIETY FUND ARE ASSETS OF FSVC HELD IN ACCOUNTS SEGREGATED FROM THE NORMAL FSVC OPERATING FUNDS. DISBURSEMENTS FROM THE SOCIETY, APPROVED BY THE FSVC EXECUTIVE COMMITTEE WILL BE EXPENDED FOR THE FOLLOWING: TO MATCH GOVERNMENTAL OR PRIVATE FUNDING TO SUPPORT FSVC PROGRAMS IN EMERGING MARKETS, TO SEED FSVC PROGRAMS IN EMERGING MARKETS, AND TO SUPPORT FSVC PROGRAMS IN ENVIRONMENTS WITH TEMPORARY FUNDING INTERRUPTIONS. Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Loss on subleases - 16013 true Europe (Including Iceland and Greenland) 1 1 Program Services Technical Assistance 236168 Middle East and North Africa 4 5 Program Services Technical Assistance 2687269 Russia and Neighboring States 1 1 Program Services Technical Assistance 1061050 Central America and the Caribbean 0 0 Program Services Technical Assistance 134855 East Asia and the Pacific 0 0 Program Services Technical Assistance 101517 South Asia 0 0 Program Services Technical Assistance 13280 Sub-Saharan Africa 5 6 Program Services Technical Assistance 7025637 11 13 0 0 11 13 11259776 0 11259776 Middle East and North Africa Program Service 113234 Wire Central America and the Caribbean Program Service 54155 Wire Middle East and North Africa Program Service 104926 Wire Sub-Saharan Africa Program Service 39797 Wire Sub-Saharan Africa Program Service 91880 Wire Sub-Saharan Africa Program Service 7912 Wire Sub-Saharan Africa Program Service 67577 Wire Sub-Saharan Africa Program Service 4109 Wire Sub-Saharan Africa Program Service 7912 Wire Sub-Saharan Africa Program Service 8127 Wire Sub-Saharan Africa Program Service 14868 Wire Sub-Saharan Africa Program Service 4154 Wire Sub-Saharan Africa Program Service 8127 Wire Sub-Saharan Africa Program Service 9631 Wire Sub-Saharan Africa Program Service 8694 Wire Sub-Saharan Africa Program Service 49626 Wire Sub-Saharan Africa Program Service 4044 Wire Sub-Saharan Africa Program Service 16050 Wire Sub-Saharan Africa Program Service 3800 Wire Sub-Saharan Africa Program Service 17398 Wire Sub-Saharan Africa Program Service 14554 Wire Sub-Saharan Africa Program Service 8754 Wire Sub-Saharan Africa Program Service 13182 Wire Sub-Saharan Africa Program Service 13228 Wire Sub-Saharan Africa Program Service 19980 Wire Sub-Saharan Africa Program Service 13174 Wire Sub-Saharan Africa Program Service 66865 Wire Sub-Saharan Africa Program Service 8718 Wire 0 28 false false false false false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds FIELD OFFICES MAINTAIN DOCUMENTATION RELATED TO FIELD PURCHASES AND FORWARD COPIES TO FSVC'S U.S. HEADQUARTERS ACCOUNTING AND FINANCE DEPARTMENT FOR REVIEW. WHEN A FIELD OFFICE NEEDS TO PURCHASE GOODS AND SERVICES THAT ARE DIRECTLY CHARGED TO A FEDERAL AWARD, THE COUNTRY DIRECTOR MAKES A FORMAL E-MAIL REQUEST (REQUISITION) TO THE CFO AND COO. AT FSVC, THE CFO AND COO ARE RESPONSIBLE FOR THE OPERATING EXPENSE (OE) BUDGET AND ALL SUPPORT COSTS. Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; MIDDLE EAST AND NORTH AFRICA-Accrual; RUSSIA AND NEIGHBORING STATES-Accrual; SOUTH ASIA-Accrual; SUB-SAHARAN AFRICA-Accrual Schedule F, Part II, Line 1 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEA; MIDDLE EAST AND NORTH AFRIC; SUB-SAHARAN AFRICA- X X X X false false false false false false false false false J Andrew Spindler President and CEO 553673 0 45057 0 0 0 16500 0 75862 0 691092 0 0 0 John D Pompay Chief Financial and Operating Officer 310142 0 19065 0 0 0 16500 0 75776 0 421483 0 0 0 Andrea Perraud Managing Director 262514 0 15883 0 0 0 13942 0 76271 0 368610 0 0 0 Edward Sia Director 149587 0 9602 0 0 0 8052 0 76074 0 243315 0 0 0 Camille Jagueneau-Siegel Director 131930 0 8093 0 0 0 7079 0 52989 0 200091 0 0 0 Bella Oks Senior Accounting Officer 112472 0 6889 0 0 0 6012 0 25709 0 151082 0 0 0 Form 990, Part III, Line 4a Niger (50) - With funding from the U.S. Agency for International Development, FSVC launched in 2019 a program focused on three key objectives: 1) helping civil society organizations (CSOs) more actively and effectively hold the government accountable and build demand for targeted policy reforms and improved government implementation; 2) assisting key government institutions in becoming more accountable to citizens and more effective and transparent in their operations; and 3) creating and/or strengthening constructive engagement spaces between citizens, CSOs and the government, to identify and implement targeted priority reforms. In 2022, FSVC received a cost-extension for additional programming focused on Women, Peace and Security (WPS) that included the addition of a fourth objective: 4) women are valued economic agents contributing to their household's economy and community's recovery and resilience to conflict and extremism. In 2023, FSVC completed a series of 48 long and short-term activities that included: 1) providing support to the Ministry for the Promotion of Women and Protection of Children in the implementation of the WPS agenda; 2) training for local CSOs on women leadership; 3) training regional security councils on ethics and professional conduct; and 4) launching and implementing small grant programs for CSOs in Niamey, Diffa and Tillabery, among other activities. Form 990, Part III, Line 4b Angola/Eswatini/Lesotho/South Africa (48): With funding from the U.S. Agency for International Development, FSVC launched in 2020 a program focused on three objectives, with implementation in Angola, Eswatini, Lesotho and South Africa: 1) strengthen the governance, accounting and public financial management capacity of key government institutions; 2) enhance the oversight capacities of key government institutions and civil society organizations (CSOs) to minimize fraud, waste and abuse of state resources and reinforce transparency and accountability; and 3) create a knowledge-sharing network to connect key government institutions and CSOs across the region to promote South-South learning. In 2023, FSVC completed a series of 22 activities that included: 1) consultations with Eswatini's Anti-Corruption Commission on developing a corruption risk assessment plan; 2) training in anti-money laundering for South Africa's National Prosecuting Authority; 3) training in Lesotho in CSO-government collaboration to increase transparency and accountability; and 4) training for the Ministry of Health of Angola in procurement procedures in the health sector. Form 990, Part III, Line 4c Angola DRL (440) - From September 2021 to December 2023, with funding from the U.S. Department of State's Bureau of Democracy, Human Rights and Labor (DRL), FSVC implemented a program focused on reducing corruption in Angola. The three specific objectives of the program were to: 1) develop capacities of media to investigate and cover corruption stories, and monitor anti-corruption reforms; 2) increase capacity of local civil society organizations (CSOs) to monitor and advocate for anti-corruption reforms, and engage the public; and 3) facilitate public-private dialogue and collaboration on anti-corruption initiatives in Angola. In 2023, FSVC completed a series of 16 activities that included: 1) training local journalists in financial journalism and corruption; 2) training social media influencers on the impact of corruption on women and vulnerable groups; 3) raising awareness of CSOs in specific corruption risks in the extractives sector; 4) launching awareness-raising campaigns on anti-corruption reforms in Luanda, Moxico and Huila; and 5) facilitating public-private roundtables on the impact of corruption on women and vulnerable groups, and corruption in the extractives sector. Form 990, Part III, Line 1 FINANCIAL SERVICES VOLUNTEER CORPS {FSVC} IS A NOT-FOR-PROFIT, PRIVATE-PUBLIC PARTNERSHIP. FSVC STRUCTURES PRACTICAL, DEMAND-DRIVEN TECHNICAL ASSISTANCE AND TRAINING MISSIONS BY SENIOR FINANCIAL SECTOR PROFESSIONALS WHO SERVE AS UNPAID VOLUNTEERS. FSVC'S CORE WORK CONCENTRATES ON STRENGTHENING CENTRAL BANK CAPACITY, BUILDING ROBUST COMMERCIAL BANKING SECTORS AND DEVELOPING CAPITAL MARKETS. MAJOR ADDITIONAL AREAS OF WORK INCLUDE IMPROVING ACCESS TO FINANCIAL SERVICES FOR SMALL AND MEDIUM-SIZED ENTERPRISES (SMES), FINANCIAL INCLUSION, AND COMBATING MONEY LAUNDERING AND FINANCIAL TERRORISM. ANOTHER CRITICAL AREA OF CURRENT WORK INVOLVES ADVISING GOVERNMENTS AND CIVIL SOCIETY ORGANIZATIONS ON HOW TO STRENGTHEN PUBLIC FINANCIAL MANAGEMENT. MISSIONS ARE STAFFED PRIMARILY BY VOLUNTEER EXPERTS AND, IN SELECT SITUATIONS, PAID CONSULTANTS. Form 990, Part III, Line 2 New program services Senegal/Mauritania CT (433) - With funding from the U.S. Department of State's Bureau of Counterterrorism, FSVC launched in August 2023 an 18-month program focused on increasing engagement between Senegalese and Mauritanian border security law enforcement and female community members in security discussions and dialogue. Specific objectives include: 1) increased opportunities for women participation in security in the Senegal-Mauritania border region; and 2) female members of local communities on the Senegal-Mauritania border have adequate access to security reporting structures and understand law enforcement roles in countering terrorism along the border. In 2023, a key activity launched was a comprehensive assessment in both Senegal and Mauritania on existing opportunities for women to discuss security concerns, gaps and opportunities, and women's security reporting structures in local communities. Democratic Republic of the Congo FTIF (452) - With funding from the U.S. Embassy Kinshasa, FSVC launched in September 2023 a 24-month program focused on two objectives, with implementation in the Democratic Republic of the Congo (DRC): 1) enhance transparency of natural resources management; and 2) strengthen coordination of relevant government of the DRC institutions to implement fiscal transparency standards set forth by the Financial Action Task Force (FATF). In 2023, FSVC completed one activity to raise awareness among public and private sector actors in the Tshopo region on the findings of the DRC's July 2023 National Risk Assessment, and how these relate to FATF deficiencies. Indonesia (443) - With funding from the U.S. Department of State's Bureau of International Security and Nonproliferation (ISN), FSVC launched a new 24-month program in Indonesia in September 2023 focused on three objectives: 1) assess vulnerabilities and risks of current foreign direct investment (FDI)-related mechanisms and plans, and FDI goals; 2) build awareness and capacity to mitigate FDI-related risks; and 3) increase domestic and international information-sharing and coordination on foreign investment screening. In 2023, FSVC identified and began discussions with key financial sector experts to conduct the first activities under the program. Form 990, Part III, Line 4d Description of other program services (Expenses $ 4,535,452 including grants of $ 777,752)(Revenue $ 267,616) The other FSVC's Programs included the following: Tunisia, Jordan, Albania (2 programs), Tajikistan (3 programs), Iraq (2 programs) Algeria, Mauritania, Panama, Counter Malign Influence, Pacific Islands, DRC/INL, Sudan. Total Expenses included 3 New Program expenses. Form 990, Part VI, Line 6 Classes of members or stockholders MEMBERSHIP WILL BE OPEN TO ALL PERSONS OVER THE AGE OF 18 WHO DEMONSTRATE A COMMITMENT TO THE ACHIEVEMENT OF THE ORGANIZATION'S PURPOSES AS SET FORTH IN THE CERTIFICATE OF INCORPORATION. THE MEMBERS OF THE CORPORATION MAY FROM TIME TO TIME ESTABLISH SUCH OTHER CRITERIA FOR MEMBERSHIP AS THEY DEEM APPROPRIATE. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE NUMBER OF MEMBERS OF THE CORPORATION WILL NOT EXCEED TWENTY-FIVE. EACH MEMBER WILL BE ELECTED BY A MAJORITY OF THE EXISTING MEMBERS OF THE CORPORATION, AND EACH WILL SERVE UNTIL THE NEXT ANNUAL MEETING OF THE MEMBERS AND THE EARLIEST OF THE ELECTION OR APPOINTMENT AND QUALIFICATION OF SUCH MEMBER'S SUCCESSOR OR UNTIL SUCH MEMBER'S DEATH, RESIGNATION, OR REMOVAL. AT THE EXPIRATION OF ANY TERM, ANY MEMBER MAY BE REELECTED. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders ANNUALLY, THE MEMBERS ELECT THE BOARD OF DIRECTORS WHO GOVERN THE ORGANIZATION. Form 990, Part VI, Line 11b Review of form 990 by governing body THE AUDITORS PREPARE THE FORM 990 AND REVIEW IT WITH MANAGEMENT AND THE AUDIT COMMITTEE OF THE BOARD. THE AUDIT COMMITTEE RECOMMENDS ACCEPTANCE OR REFUSAL OF THE FORM 990 TO THE FULL BOARD. A COPY OF THE APPROVED FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO FILING WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy CONFLICT OF INTEREST POLICY DISCLOSER IS DISTRIBUTED TO THE BOARD OF DIRECTORS AND ALL FSVC EMPLOYEES FOR THE SIGNATURE ON ANNUAL BASIS TO SEE CHANGES IF ANY FOR THE YEAR. IN THE EVENT OF ANY CONFLICTS, THE CONFLICTED MEMBER MUST RECUSE THEMSELVES FROM THE MEETING WHILE DISCUSSION TAKES PLACE. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE COMPENSATION COMMITTEE OF FSVC'S BOARD OF DIRECTORS, COMPRISED OF THE CHAIRMAN (MR. SCHROEDER), AND VICE-CHAIRMAN (MR. MILLS), REVIEWS AND APPROVES SALARY INCREASES FOR THE CEO, ALL OFFICERS AND ALL EMPLOYEES. IN ADDITION, FSVC ALSO REFERS TO VARIOUS INDUSTRY SALARY SURVEYS AND 990S OF OTHER ORGANIZATIONS AS COMPARABLES. THIS PROCESS WAS LAST DONE IN 2023. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE COMPENSATION COMMITTEE OF FSVC'S BOARD OF DIRECTORS, COMPRISED OF THE CHAIRMAN (MR. SCHROEDER), AND VICE-CHAIRMAN (MR. MILLS), REVIEWS AND APPROVES SALARY INCREASES FOR THE CEO, ALL OFFICERS AND ALL EMPLOYEES. IN ADDITION, FSVC ALSO REFERS TO VARIOUS INDUSTRY SALARY SURVEYS AND 990S OF OTHER ORGANIZATIONS AS COMPARABLES. THIS PROCESS WAS LAST DONE IN 2023. Form 990, Part VI, Line 19 Required documents available to the public THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. Form 990, Part IX, Line 11g Other Fees Consultants & Subcontractors - Total Expense: 1370528, Program Service Expense: 1330620, Management and General Expenses: 39908, Fundraising Expenses: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Loss on subleases - -16013;