Media Development Investment Fund Inc
- Assets
- $33.2m
- Revenue
- $9.1m
- Investments
- $0.0
- Employees
- 13
- Location
- New York, NY
- Founding
- 08/1999
- Data as of
- 12/2021
- EIN
- 13-4052259
Organization Overview
Media Development Investment Fund Inc is located in New York, NY. The organization was established in 1999. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Media Development Investment Fund Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Media Development Investment Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Media Development Investment Fund Inc generated $9.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $11.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MDIF PROVIDES LOAN AND EQUITY FINANCING BY WAY OF "PROGRAM RELATED INVESTMENTS" (PRIS) TO FURTHER ITS CHARITABLE MISSION. MDIF MAINTAINS A SEGREGATED POOL OF FUNDS FROM WHICH IT MAKES PRIS. RETURN OF INVESTED CAPITAL IS RECYCLED THROUGH THE POOL FOR REINVESTMENT.WITH EVERY PRI, MDIF PROVIDES CUSTOMIZED TRAINING AND TECHNICAL ASSISTANCE TO MEDIA ORGANIZATIONS AT VARYING STAGES OF THE BUSINESS LIFE CYCLE. IN ADDITION, MDIF TRAINS MEDIA ORGANIZATIONS IN THE USE OF DIGITAL AND TRANSFORMATIONAL TECHNOLOGY FOR ENHANCING THE SUSTAINABILITY OF THE MEDIA ORGANIZATION.SEE SCHEDULE O FOR CONTINUATION.
IN ITS GLOBAL PROGRAM, SUPPORTED BY SIDA, ("SIDA GLOBAL") MDIF UTILIZES ITS FINANCING AND CAPACITY BUILDING EXPERTISE TO IDENTIFY, DEVELOP, AND TRANSFORM MEDIA COMPANIES IN NEED, GLOBALLY, COMBINED WITH SIDA'S SUPPORT, TO PROVIDE LOAN AND EARLY STAGE EQUITY FINANCING, AND TECHNICAL ASSISTANCE, PARTICULARLY IN BUILDING DIGITAL CAPACITY AND STRENGTHENING MEDIA BUSINESS DEVELOPMENT.
THE MYANMAR MEDIA PROGRAM ("SIDA MYANMAR") PROVIDES A RANGE OF HIGHLY TAILORED MEDIA BUSINESS-ORIENTED TECHNICAL ASSISTANCE TO MYANMAR'S INDEPENDENT MEDIA COMPANIES, INCLUDING ONE-TO-ONE EXPERT CONSULTING, GROUP WORKSHOPS, PEER-TO-PEER KNOWLEDGE SHARING AND DIRECT GRANTS FOR BUILDING MANAGEMENT CAPACITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Egan Chief Investment Officer | 40 | $299,837 | |
Harlan Mandel Chief Executive Officer | OfficerTrustee | 40 | $270,233 |
Teling Peterson Chief Financial Officer | Officer | 40 | $175,589 |
Elena Popovic Secretary/general Counsel | Officer | 40 | $169,762 |
Patrice Schneider Chief Strategy Officer | 40 | $163,896 | |
Kevin Brockland Principal Investment Offic | 40 | $140,207 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Akin Gump Strauss Hauer & Feld Llp Legal Service | 12/30/21 | $275,000 |
Gloria A Pena Consultant | 12/30/21 | $103,750 |
Nisalux Pty Ltd Consultant | 12/30/21 | $272,670 |
Mark Paneth Llp Accounting | 12/30/21 | $146,135 |
Pt Bintang Larasati Mitra Sentosa Consultant | 12/30/21 | $137,977 |
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 | $7,194,961 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,194,961 |
| Total Program Service Revenue | $1,850,748 |
| Investment income | $82,398 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,110,423 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,354,831 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $799,193 |
| Compensation of current officers, directors, key employees. | $159,839 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,823,594 |
| Pension plan accruals and contributions | $110,521 |
| Other employee benefits | $293,774 |
| Payroll taxes | $211,185 |
| Fees for services: Management | $234,486 |
| Fees for services: Legal | $470,107 |
| Fees for services: Accounting | $151,943 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,352 |
| Fees for services: Other | $1,097,719 |
| Advertising and promotion | $50,381 |
| Office expenses | $55,751 |
| Information technology | $131,276 |
| Royalties | $0 |
| Occupancy | $254,182 |
| Travel | $70,874 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $322,207 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,277 |
| Insurance | $58,455 |
| All other expenses | $0 |
| Total functional expenses | $11,128,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,343,506 |
| Savings and temporary cash investments | $993,330 |
| Pledges and grants receivable | $182,436 |
| Accounts receivable, net | $842,188 |
| 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 | $52,905 |
| Net Land, buildings, and equipment | $10,481 |
| Investments—publicly traded securities | $5,985,841 |
| Investments—other securities | $0 |
| Investments—program-related | $19,796,200 |
| Intangible assets | $0 |
| Other assets | $1,976,544 |
| Total assets | $33,183,431 |
| Accounts payable and accrued expenses | $1,456,188 |
| Grants payable | $0 |
| 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 | $11,835,257 |
| Other liabilities | $518,891 |
| Total liabilities | $13,810,336 |
| Net assets without donor restrictions | $17,202,412 |
| Net assets with donor restrictions | $2,170,683 |
| 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 | $33,183,431 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Media Development Investment Fund Inc has recieved totaling $17,782,279.
| Awarding Organization | Amount |
|---|---|
Open Society Institute New York, NY PURPOSE: TO PROVIDE GENERAL SUPPORT | $4,650,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: TO STRENGTHEN THE REVENUE GENERATION SKILLS AND SUSTAINABILITY OF NIGERIAN MEDIA ORGANIZATIONS. | $4,000,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: TO STRENGTHEN THE REVENUE GENERATION SKILLS AND SUSTAINABILITY OF NIGERIAN MEDIA ORGANIZATIONS. | $4,000,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: TO STRENGTHEN THE REVENUE GENERATION SKILLS AND SUSTAINABILITY OF NIGERIAN MEDIA ORGANIZATIONS. | $4,000,000 |
Luminate Foundation Inc Washington, DC PURPOSE: TO PROVIDES FINANCIAL AND VENTURE SUPPORT TO INDEPENDENT MEDIA ORGANISATIONS ALL OVER THE WORLD. | $250,000 |
Wyncote Foundation Philadelphia, PA PURPOSE: SUPPORT FOR ONGOING PROGRAMS | $200,000 |
Endowment Analysis
| Beg. Balance | $3,762,121 |
| Earnings | $428,171 |
| Admin Expense | $26,201 |
| Net Contributions | $5,270,000 |
| Other Expense | $5,118,983 |
| Ending Balance | $4,315,108 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnhold Foundation Inc New York, NY | $497,481,101 | $53,665,580 |
The Morningside Foundation Newton Centre, MA | $22,445,720 | $11,895,776 |
Prudential Foundation Inc Newark, NJ | $137,651,624 | $53,115,847 |
The Grace And Mercy Foundation Inc New York, NY | $617,102,449 | $100,220,039 |
The Patrick J Mcgovern Foundation Inc Boston, MA | $1,660,673,846 | $20,910,577 |
One8 Foundation Boston, MA | $488,764,350 | $32,279,319 |
Peter G Peterson Foundation New York, NY | $1,055,700,983 | $50,280,779 |
Leon Levy Foundation New York, NY | $614,122,389 | $121,596,253 |
Shubert Foundation Inc New York, NY | $671,108,588 | $57,657,953 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
Hauser Foundation Inc New York, NY | $0 | $9,971,722 |