Pact Global Microfinance Fund
- Assets
- $301.1m
- Revenue
- $72.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 07/2014
- Data as of
- 09/2019
- EIN
- 45-5008824
Organization Overview
Pact Global Microfinance Fund is located in Washington, DC. The organization was established in 2014. According to its NTEE Classification (Q11) the organization is classified as: Single Organization Support, 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.
For the year ending 09/2019, Pact Global Microfinance Fund generated $72.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $48.2m during the year ending 09/2019. While expenses have increased by 12.2% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
USING AN INTEGRATED APPROACH AND LOCAL PARTNERSHIPS, PACT GLOBAL MICROFINANCE FUND WORKS TO CREATE A WORLD WHERE THOSE WHO ARE POOR AND MARGINALIZED EXERCISE THEIR VOICE, BUILD THEIR OWN SOLUTIONS AND TAKE OWNERSHIP OF THEIR FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AN INTERNATIONAL NONPROFIT LENDER, PACT GLOBAL MICROFINANCE FUND IMPROVES THE LIVES OF POOR AND MARGINALIZED FAMILIES AROUND THE GLOBE BY PROVIDING LOANS AND TRAINING TO LAUNCH SMALL BUSINESSES, BUILD INCOME AND SAVE FOR THE FUTURE. MORE THAN 98 PERCENT OF RECIPIENTS ARE WOMEN. MOST LIVE IN RURAL AREAS WITH NO OTHER OPTIONS FOR OBTAINING CREDIT. AT THE END OF THE FISCAL YEAR, PGMF'S PORTFOLIO INCLUDED $104,898,903 IN LOANS TO MORE THAN 600,000 PEOPLE FOR FARMING AND OTHER INCOME-GENERATING ACTIVITIES, EDUCATION AND EMERGENCY NEEDS. LOAN RECIPIENTS ALSO RECEIVED TRAINING TO BUILD THEIR BUSINESS DEVELOPMENT SKILLS, FINANCIAL LITERACY AND RESILIENCE IN THE FACE OF ECONOMIC SHOCKS AND DISASTERS. TO ENSURE THAT PGMF IS MEETING ITS MISSION OF ALLEVIATING POVERTY AND BUILDING SUSTAINABLE LIVELIHOODS, IT SYSTEMATICALLY MONITORS AND EVALUATES ITS IMPACT THROUGHOUT THE YEAR. BY EMPOWERING WOMEN AND FAMILIES TO LIFT THEMSELVES OUT OF POVERTY, PGMF IS CREATING LASTING CHANGE AND PROMOTING SUSTAINABLE DEVELOPMENT IN THE POOREST PARTS OF THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Viso Board Member & CEO (until July 2019) | OfficerTrustee | 2 | $0 |
Stephen Oleskey Board Chair | OfficerTrustee | 5 | $0 |
Bruce Pankey Cfo/treasurer (until March 2019) | Officer | 2 | $0 |
Fahmid Bhuiya COO - Pgmf | Officer | 2 | $0 |
Mamunur Rashid Finance Director - Pgmf | Officer | 2 | $0 |
Jason Meikle Deputy Director - Pgmf | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,091,563 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $71,980,377 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $38,682 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,338,507 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $45,775 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $287,241 |
| Fees for services: Accounting | $119,702 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $113,102 |
| Advertising and promotion | $0 |
| Office expenses | $3,662,220 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $833,126 |
| Travel | $1,831,993 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,217,328 |
| Interest | $15,438,365 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $576,034 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $48,165,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,774 |
| Savings and temporary cash investments | $24,554,475 |
| Pledges and grants receivable | $635,219 |
| Accounts receivable, net | $402,350 |
| 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 | $444,915 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $273,385,965 |
| Total assets | $301,077,938 |
| Accounts payable and accrued expenses | $1,739,077 |
| 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 | $53,526,768 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $119,054,436 |
| Total liabilities | $174,320,281 |
| Net assets without donor restrictions | $126,757,657 |
| 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 | $126,757,657 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Nations Foundation Inc Washington, DC | $336,077,459 | $119,227,500 |
Globalgiving Foundation Inc Washington, DC | $42,449,272 | $63,347,052 |
Pact Global Microfinance Fund Washington, DC | $301,077,938 | $71,980,377 |
Internet Society Foundation Reston, VA | $70,511,620 | $34,529,637 |
Impactisrael Inc Bethesda, MD | $23,992,431 | $7,249,147 |
Numbersusa Support Organization Arlington, VA | $13,367,930 | $594,051 |
American Friends Of Bait Shmaya School Inc Baltimore, MD | $146,219 | $790,174 |
Children Of God Relief Fund Inc Washington, DC | $2,894,581 | $775,554 |
Girl Determined Charlottesville, VA | $973,368 | $470,015 |
Business & Education As Mission Rockville, MD | $0 | $79,964 |
Friends Of The Ceeli Institute McLEAN, VA | $180,459 | $445,743 |
Mk College Link Harrisonburg, VA | $168,117 | $413,259 |