2024-11-13T10:07:37-06:00 2023-12-31 440160260 FORVIS MAZARS LLP 1330 BOYLSTON STREET CHESTNUT HILL MA 024672145 990 2023-01-01 421751736 MICROLOAN FOUNDATION USA MICR 6178165637 237 BONAD ROAD CHESTNUT HILL MA 02467 STEVEN MARK PRESIDENT 6178165637 2024-11-11 1 0 RANDALL S SMITH CPA P00583603 6177311222 2023 2024-10-15 13:58:12Z STEVEN MARK 237 BONAD ROAD CHESTNUT HILL MA 02467 109156 0 X WWW.MICROLOANFOUNDATIONUSA.ORG X 2008 MA 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. TO DATE, THE ORGANIZATION HAS SUPPORTED OVER 450,000 WOMEN FACING POVERTY, PROVIDING LOAN CAPITAL AND TRAINING SO THEY CAN BUILD SMALL BUSINESSES. AS A RESULT, MORE THAN 1,900,000 CHILDREN HAVE INCREASED ACCESS TO NUTRITIOUS FOOD, HEALTHCARE, AND EDUCATION. MLF USA IS THE US FUNDRAISING ARM OF THESE PURPOSES. 10 10 0 0 0 0 135778 107546 0 0 141 0 21895 1610 157814 109156 134406 100000 0 0 0 0 0 0 0 7149 7901 141555 107901 16259 1255 47639 51287 0 2392 47639 48895 X 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. 0 0 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. 100000 100000 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. 100000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X X KAREN CHABON 6174599165 6 HOLLYWOOD ROAD CHESTNUT HILL MA 02467 X STEVEN MARK PRESIDENT 2.00 X X 0 0 0 DAN HEALY TREASURER 2.00 X X 0 0 0 ROKAYA HELFER SECRETARY 2.00 X X 0 0 0 TALITHA REYNOLDS DIRECTOR 2.00 X 0 0 0 MATT ZALOSH DIRECTOR 2.00 X 0 0 0 BRANDY CARLSON DIRECTOR 2.00 X 0 0 0 MALIN ROSENQVIST DIRECTOR 2.00 X 0 0 0 MANISH SOMAIYA DIRECTOR 2.00 X 0 0 0 MUKESH SHARMA DIRECTOR 2.00 X 0 0 0 ISABELLE COLE DIRECTOR 2.00 X 0 0 0 0 0 0 0 0 0 0 0 107546 107546 1610 0 1610 1610 109156 0 0 1610 100000 100000 2892 2892 1630 1630 INSURANCE 2185 2185 WEBSITE 1194 1194 107901 100000 7901 0 47639 51287 47639 51287 0 2392 0 2392 X 47639 48895 47639 48895 47639 51287 1255 0 X 0 0 0 X 56672 31662 78778 135778 107546 410436 56672 31662 78778 135778 107546 410436 410436 204 52 2 140 0 398 410834 0.99900 0.99870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 SUB-SAHARAN AFRICA 20 GRANTMAKING MICROLOANS 100000 20 0 0 0 20 0 100000 0 100000 SUB-SAHARAN AFRICA LOAN CAPITAL 100000 WIRE TRANSFER 0 0 0 0 0 0 0 PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS THE MICROLOAN FOUNDATION USA ("MLF USA") ENSURES THAT ITS DISTRIBUTIONS ARE USED IN FURTHERANCE OF ITS EXEMPT PURPOSE. MLF USA MAINTAINS RECORDS OF DISTRIBUTIONS TO ITS SISTER ORGANIZATION MICROLOAN FOUNDATION UK ("MLF UK"). MLF USA HAS ACCESS TO THE RECORDS OF MLF UK DETAILING THE SPENDING OF MLF USA'S GRANTS. THE RECORDS OF MLF UK CONTAIN THE NAMES AND ADDRESSES OF ANY WOMEN WHO RECEIVE MICROLOANS, INDEPENDENT REFERENCES, AMOUNTS BORROWED AND REPAYMENTS. BY PROVIDING GRANTS EXCLUSIVELY TO MLF ORGANIZATIONS, AND REQUIRING DETAILED RECORDS FROM MLF UK, MLF USA CAN MONITOR AND ENSURE THAT THESE GRANTS ARE ONLY USED IN FURTHERANCE OF MLF USA'S CHARITABLE AND EDUCATIONAL PURPOSES. MLF USA ALSO REGULARLY COMMUNICATES WITH ANY SISTER ORGANIZATION THAT HAS RECEIVED A GRANT. MLF USA EMPLOYEES AND VOLUNTEERS MAY ALSO CONDUCT SITE VISITS TO SISTER ORGANIZATIONS TO ENSURE AND MONITOR THAT GRANTS ARE BEING USED IN ACCORDANCE WITH MLF USA'S CHARITABLE AND EDUCATIONAL PURPOSES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PROVIDED TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO SUBMISSION. THE BOARD CHAIR AND TREASURER ISSUED APPROVAL FOR THIS FORM TO BE SUBMITTED. SUBSEQUENTLY, FORM 990 AND ACCOMPANYING SCHEDULES ARE DISCUSSED AT A FULL BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD MEMBERS ARE ISSUED AN ANNUAL CONFLICT OF INTEREST DISCLOSURE FORM FOR DIRECTORS TO SIGN EACH YEAR MAKING THEM AWARE OF ANY POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. MICROLOAN FOUNDATION UK 1-2 PARIS GARDEN LONDON UK UK 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE R PART II(B) MICROLOAN FOUNDATION USA ("MLF USA") PROVIDES FUNDING THROUGH MLF UK EXCLUSIVELY FOR MLF USA'S SISTER ORGANIZATIONS OPERATING IN MALAWI, ZIMBABWE, AND ZAMBIA ("MLF GROUP") SOLELY IN FURTHERANCE OF MLF USA'S CHARITABLE AND EDUCATIONAL PURPOSES. MLF GROUP PROVIDES RELATED CHARITABLE AND EDUCATIONAL SERVICES TO MLF'S TARGET POPULATIONS. ANY SUCH SUPPORT IS PROVIDED IN ACCORDANCE WITH MLF USA'S CONFLICT OF INTEREST POLICIES, AND SOLELY IN FURTHERANCE OF ITS EXEMPT PURPOSES. ANY SUCH SUPPORT IS PROVIDED IN SUBJECT TO REVIEW AND APPROVAL OF INDEPENDENT MEMBERS OF THE BOARD OF DIRECTORS. PERIODIC REPORTS AND PERFORMANCE ASSESSMENTS AER DISCLOSED TO THE IRS AS REQUIRED ON MLF USA'S ANNUAL FORM 990. MLF USA, MLF UK AND MLF GROUP SHARE THE SAME CHARITABLE AND EDUCATIONAL PURPOSES. MLF USA ENSURES THAT ITS DISTRIBUTIONS ARE USED IN FURTHERANCE OF ITS EXEMPT PURPOSE. MLF UK MAINTAINS RECORDS OF DISTRIBUTIONS TO MLF GROUP. MLF USA HAS ACCESS TO THE RECORDS OF MLF UK DETAILING THE SPENDING OF MLF USA'S DISBURSEMENTS. THE RECORDS OF MLF UK CONTAIN THE NAMES AND ADDRESSES OF ANY WOMEN WHO RECEIVES MICROLOANS, INDEPENDENT REFERENCES, AMOUNTS BORROWED AND REPAYMENTS. BY PROVIDING DISTRIBUTIONS EXCLUSIVELY FOR MLF GROUP, AND REQUIRING DETAILED RECORDS, MLF USA CAN ENSURE THAT SAID DISTRIBUTIONS ARE USED ONLY IN FURTHERANCE OF MLF USA'S CHARITABLE AND EDUCATIONAL PURPOSES.