Microfinance Information Exchange Inc
- Assets
- $322.5k
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 7
- Location
- Washington, DC
- Founding
- 10/2002
- Data as of
- 06/2020
- EIN
- 36-4502299
Organization Overview
Microfinance Information Exchange Inc is located in Washington, DC. The organization was established in 2002. 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. As of 06/2020, Microfinance Information Exchange Inc employed 7 individuals. Microfinance Information Exchange 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 06/2020, Microfinance Information Exchange Inc generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.0%) each year. All expenses for the organization totaled $2.1m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (12.3%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
MICROFINANCE INFORMATION EXCHANGE, INC (MIX) PROVIDES THE DATA, ANALYTICS, AND INSIGHTS THAT EMPOWER DECISION-MAKERS TO BUILD AN INCLUSIVE FINANCIAL SERVICES ECOSYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MICROFINANCE INFORMATION EXCHANGE, INC. (MIX) IS THE LEADING GLOBAL DATA RESOURCE FOR SOCIALLY RESPONSIBLE INVESTORS AND BUSINESSES FOCUSED ON INCLUSIVE FINANCE. MIX'S DATA PLATFORM COVERS THOUSANDS OF MISSION-FOCUSED FINANCIAL SERVICE PROVIDERS. MIX COLLECTS, ANALYZES, AND MAINTAINS DATA ON FINANCIAL SERVICES PROVIDERS. THAT DATA IS SHARED BOTH AS A PUBLIC GOOD FOR THE ADVANCEMENT OF THE INDUSTRY AND ON A FEE-PAID BASIS FOR SUBSCRIBERS INTERESTED IN MORE DETAILED MARKET INTELLIGENCE. MIX HELPS SOCIALLY RESPONSIBLE INVESTORS TO MONITOR THEIR PORTFOLIOS AND INCREASE THEIR INVESTMENTS IN UNDERSERVED SECTORS AND GEOGRAPHIES, INCLUDING AGRICULTURAL FINANCE AND INCLUSIVE FINTECH.
ON MAY 8, 2020, MIX AND ACCION INTERNATIONAL (ACCION), A TAX-EXEMPT CHARITABLE ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, SIGNED AN ASSET TRANSFER AGREEMENT (THE AGREEMENT) WHICH PROVIDES FOR MIX TO TRANSFER THE SPECIFIED ASSETS, LIABILITIES, RIGHTS AND OBLIGATIONS, GRANTS, CONTRACTS, AND AGREEMENTS, AND ALL OPERATIONS TO ACCION. THE CLOSING DATE FOR THE TRANSFER WAS MAY 31, 2020.
ON MAY 8, 2020, MIX AND ACCION INTERNATIONAL (ACCION), A TAX-EXEMPT CHARITABLE ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, SIGNED AN ASSET TRANSFER AGREEMENT (THE AGREEMENT) WHICH PROVIDES FOR MIX TO TRANSFER THE SPECIFIED ASSETS, LIABILITIES, RIGHTS AND OBLIGATIONS, GRANTS, CONTRACTS, AND AGREEMENTS, AND ALL OPERATIONS TO ACCION. THE CLOSING DATE FOR THE TRANSFER WAS MAY 31, 2020. ON MAY 29, 2020, MIX MADE A CASH TRANSFER OF $778,856 TO ACCION. AS OF JUNE 30, 2020, NONCASH RECEIVABLES, PAYABLES, AND COMPUTER EQUIPMENT WERE ALSO TRANSFERRED WHICH NETTED TO AN INCREASE IN THE TRANSFER BY $3,131.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Blaine Stephens Former Chief Operations Officer | 40 | $164,410 | |
Camilla Nestor Chief Executive Officer | OfficerTrustee | 40 | $154,046 |
Henry Bruce Director Of Product | 40 | $102,308 | |
Henry Gonzalez Chair And Secretary | OfficerTrustee | 1 | $0 |
Mary Rose Brusewitz Treasurer | OfficerTrustee | 1 | $0 |
Julie Earne Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,413,244 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$41,935 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,010,948 |
| Statement of Expenses | |
|---|---|
| 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. | $171,896 |
| Compensation to disqualified persons | $235,500 |
| Other salaries and wages | $194,063 |
| Pension plan accruals and contributions | $17,012 |
| Other employee benefits | $86,851 |
| Payroll taxes | $2,497 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,104 |
| Fees for services: Accounting | $118,388 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $946,509 |
| Advertising and promotion | $0 |
| Office expenses | $5,780 |
| Information technology | $74,054 |
| Royalties | $0 |
| Occupancy | $30,936 |
| Travel | $55,724 |
| 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 | $59,493 |
| Insurance | $8,093 |
| All other expenses | $0 |
| Total functional expenses | $2,050,225 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $317,640 |
| Savings and temporary cash investments | $0 |
| 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 | $4,904 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $322,544 |
| Accounts payable and accrued expenses | $136,526 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $136,526 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $186,018 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Microfinance Information Exchange Inc has recieved totaling $690,000.
| Awarding Organization | Amount |
|---|---|
Visa Foundation San Francisco, CA PURPOSE: ORGANIZATIONAL INTEGRATION WITH THE CENTER FOR FINANCIAL INCLUSION AT ACCION | $300,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: FINANCIAL SERVICES FOR THE POOR | $140,000 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $100,000 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $100,000 |
Ford Foundation New York, NY PURPOSE: FOR RESEARCH AND STRATEGIC PLANNING TO DETERMINE THE FUTURE DIRECTION OF THE ORGANIZATION IN FURTHERANCE OF ITS MISSION TO PROVIDE INVESTORS AND FUNDERS WITH OBJECTIVE AND QUALIFIED MICROFINANCE PERFORMANCE DATA AND ANALYSIS | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Budget Partnership Washington, DC | $22,613,845 | $10,208,589 |
The Global Development Incubator Inc Washington, DC | $19,206,818 | $12,212,974 |
U S Russia Foundation For Ecnomic Advancement And The Rule Of Law Washington, DC | $338,533,234 | $10,918,102 |
International Economic Development Council Inc Washington, DC | $7,664,446 | $7,258,490 |
Grassroots Business Partners Inc Washington, DC | $4,894,378 | $2,765,853 |
Serrv International Inc Westminster, MD | $5,915,930 | $5,889,769 |
Junior Achievement Of Greater Washington Washington, DC | $13,546,976 | $4,222,443 |
Fairtrade America United Inc Washington, DC | $5,153,549 | $4,146,091 |
Aceli Africa Inc Washington, DC | $4,489,153 | $3,826,704 |
Solar Sister Inc Great Falls, VA | $695,942 | $2,413,061 |
Junior Achievement Usa Baltimore, MD | $5,919,708 | $2,752,721 |
Microfinance Information Exchange Inc Washington, DC | $322,544 | $2,010,948 |