Nonprofit · EIN 42-1751736
MICROLOAN FOUNDATION USA INC
Tax-exempt · CHESTNUT HILL, MA 02467
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $114,070 | $145,337 | -$31,267 | $18,078 | $450 | $17,628 |
| December 31, 2023 | 990 | $109,156 | $107,901 | $1,255 | $51,287 | $2,392 | $48,895 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $108,811
- Program service revenue
- $0
- Investment income
- $0
- Net income from fundraising events
- $5,259
- Other revenue
- $5,259
Expenses
- Grants and similar amounts paid
- $135,000
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $3,720
- Program services (functional)
- $135,000
- Management and general (functional)
- $10,337
Balance sheet and other
- Total assets, start of year
- $51,287
- Total assets, end of year
- $18,078
- Total liabilities, end of year
- $450
- Net assets, end of year
- $17,628
- Net assets without donor restrictions
- $17,628
- Gross receipts
- $114,070
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2008
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| STEVEN MARK | PRESIDENT Trustee or director, Officer | 2 | $0 |
| DAN HEALY | TREASURER Trustee or director, Officer | 2 | $0 |
| ROKAYA HELFER | SECRETARY Trustee or director, Officer | 2 | $0 |
| TALITHA REYNOLDS | DIRECTOR Trustee or director | 2 | $0 |
| MATT ZALOSH | DIRECTOR Trustee or director | 2 | $0 |
| BRANDY CARLSON | DIRECTOR Trustee or director | 2 | $0 |
| MALIN ROSENQVIST | DIRECTOR Trustee or director | 2 | $0 |
| MANISH SOMAIYA | DIRECTOR Trustee or director | 2 | $0 |
| ISABELLE COLE | DIRECTOR Trustee or director | 2 | $0 |
| KATIE JONES | DIRECTOR Trustee or director | 2 | $0 |
| SAMANTHA ABRAMS | DIRECTOR Trustee or director | 2 | $0 |
| CHRISTELLE MBAH | DIRECTOR Trustee or director | 2 | $0 |
| LIZ ROBINSON | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| STEVEN MARK | PRESIDENT Trustee or director, Officer | 2 | $0 |
| DAN HEALY | TREASURER Trustee or director, Officer | 2 | $0 |
| ROKAYA HELFER | SECRETARY Trustee or director, Officer | 2 | $0 |
| TALITHA REYNOLDS | DIRECTOR Trustee or director | 2 | $0 |
| MATT ZALOSH | DIRECTOR Trustee or director | 2 | $0 |
| BRANDY CARLSON | DIRECTOR Trustee or director | 2 | $0 |
| MALIN ROSENQVIST | DIRECTOR Trustee or director | 2 | $0 |
| MANISH SOMAIYA | DIRECTOR Trustee or director | 2 | $0 |
| MUKESH SHARMA | DIRECTOR Trustee or director | 2 | $0 |
| ISABELLE COLE | DIRECTOR Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 237 BONAD RD, CHESTNUT HILL, MA 02467-3641
- In care of
- % LINDA THOMSON-CLEM
- Principal officer (990 for 2024)
- STEVEN MARK, 237 BONAD ROAD, CHESTNUT HILL, MA 02467
- Signed the 990
- STEVEN MARK, PRESIDENT
- Phone
- (617) 816-5637
- Return prepared by
- FORVIS MAZARS LLP
Mission
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. MLF USA IS THE US FUNDRAISING ARM OF THESE PURPOSES.
Program accomplishments
- 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.
- 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. THE MICROLOANS ENABLE THE WOMEN TO DEVELOP SMALL BUSINESSES TO SUPPORT THEIR FAMILIES.Expenses $135,000 · grants $135,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 42-1751736
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2010
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- International, foreign affairs and national security (Q33)
- Assets (IRS master file)
- $18,078
- Income (IRS master file)
- $114,070
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $114,070 | $145,337 | $18,078 | IRS |
| 990 | December 2023 | $109,156 | $107,901 | $51,287 | XML |
| 990 | December 2022 | $157,814 | $141,555 | $47,639 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 42-1751736).
Questions about MICROLOAN FOUNDATION USA INC
- What is the EIN of MICROLOAN FOUNDATION USA INC?
- The employer identification number (EIN) of MICROLOAN FOUNDATION USA INC is 42-1751736.
- Is MICROLOAN FOUNDATION USA INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2010.
- Are donations to MICROLOAN FOUNDATION USA INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MICROLOAN FOUNDATION USA INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MICROLOAN FOUNDATION USA INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MICROLOAN FOUNDATION USA INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MICROLOAN FOUNDATION USA INC?
- The 990 for the year ended December 31, 2024 names STEVEN MARK.
- Who are the officers and directors of MICROLOAN FOUNDATION USA INC?
- The 990 for the year ended December 31, 2024 lists 13 people; 0 received compensation from the organization.
- How much revenue does MICROLOAN FOUNDATION USA INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $114,070, expenses of $145,337 and total assets of $18,078 at year end.
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