Omidyar-Tufts Microfinance Fund
- Assets
- $114.8m
- Revenue
- -$1.2m
- Investments
- $82.7m
- Employees
- 0
- Location
- Somerville, MA
- Founding
- 08/2007
- Data as of
- 06/2021
- EIN
- 04-3828582
Organization Overview
Omidyar-Tufts Microfinance Fund is located in Somerville, MA. The organization was established in 2007. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Omidyar-Tufts Microfinance Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING EDUCATION THROUGH GRANTS AND MAKING POSITIVE SOCIETAL CHANGES THROUGH INVESTMENTS.
Describe the Organization's Program Activity:
MAKING INVESTMENTS THAT HAVE AN IMPACT ON A RANGE OF SOCIETAL CHALLENGES BY EMPOWERING PEOPLE TO ACCELERATE POSITIVE CHANGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Senior Investment Associate | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,875,911 |
| Noncash contributions included in lines 1a–1f | $2,875,911 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,875,911 |
| Total Program Service Revenue | $0 |
| Investment income | $434,764 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,524,584 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$1,213,909 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,838,921 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $404,049 |
| Compensation of current officers, directors, key employees. | $40,405 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $163,143 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $93,114 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $75,486 |
| Fees for services: Accounting | $35,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $78,219 |
| Fees for services: Other | $21,679 |
| Advertising and promotion | $0 |
| Office expenses | $9,536 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $15,722,957 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,890,260 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $19,647,385 |
| Investments—other securities | $82,702,799 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,588,386 |
| Total assets | $114,828,830 |
| Accounts payable and accrued expenses | $269,914 |
| Grants payable | $14,838,921 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $15,108,835 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $99,719,995 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $114,828,830 |
Endowment Analysis
| Beg. Balance | $82,005,163 |
| Earnings | $30,561,878 |
| Admin Expense | $101,530 |
| Net Contributions | $2,875,911 |
| Other Expense | $782,506 |
| Grants | $14,838,921 |
| Ending Balance | $99,719,995 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Polish-American Freedom Foundation New York, NY | $332,912,578 | $20,651,430 |
Omidyar-Tufts Microfinance Fund Somerville, MA | $114,828,830 | -$1,213,909 |
Dress For Success Worldwide New York, NY | $9,765,263 | $14,118,582 |
Endeavor Global Inc New York, NY | $17,758,887 | $22,239,624 |
Financial Services Volunteer Corps Inc New York, NY | $4,338,276 | $8,058,219 |
Romanian American Foundation New York, NY | $151,764,693 | $36,392,050 |
Nest Inc New York, NY | $5,296,909 | $4,810,117 |
Cerge-Ei Foundation New York, NY | $13,211,124 | $3,287,220 |
Junior Achievement Of New York New York, NY | $4,177,610 | $3,603,746 |
Junior Achievement Of Greater Boston Inc Boston, MA | $2,896,719 | $2,830,681 |
Junior Achievement Of Southwest New England Hartford, CT | $5,344,034 | $2,331,852 |
Shared Interest Inc New York, NY | $15,315,615 | $1,510,190 |