Pact Global Microfinance Fund
- Assets
- $331.0m
- Revenue
- $114.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 07/2014
- Data as of
- 09/2021
- 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. Pact Global 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.
For the year ending 09/2021, Pact Global Microfinance Fund generated $114.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.8% each year . All expenses for the organization totaled $106.0m during the year ending 09/2021. While expenses have increased by 25.5% per year over the past 6 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
2021
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.PART I, LINE 5:THE NUMBER OF EMPLOYEES NOTED IN LINE 5 REPRESENTS ONLY EMPLOYEES WHO ARE US CITIZENS. PGMF HAS EMPLOYEES WHO ARE THIRD COUNTRY AND LOCAL NATIONALS WORKING IN ITS OFFICES IN BURMA, WHO ARE NOT SUBJECT TO U.S. WAGE AND TAX REPORTING REQUIREMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS A NON-PROFIT LENDER, PACT GLOBAL MICROFINANCE FUND IMPROVES THE LIVES OF POOR AND MARGINALIZED FAMILIES IN MYANMAR. BY PROVIDING LOANS AND TRAINING TO LAUNCH SMALL BUSINESS, THIS HELPS BUILD INCOME AND SAVE FOR THE FUTURE. MORE THAN 97 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 $259,843,730 IN LOANS TO MORE THAN 1,293,055 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samantha Barbee CFO | OfficerTrustee | 5 | $0 |
Caroline Anstey Pres & CEO | Officer | 5 | $0 |
Fahmid Karim Bhuiya MD Coo, Pgmf | Officer | 40 | $0 |
Jason Meikle Deputy Director, Pgmf | Officer | 40 | $0 |
Mamunur Rashid Finance Director - Pgmf | Officer | 40 | $0 |
Maria Barton Gc & Chief Compliance Off. | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $712,828 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $712,828 |
| Total Program Service Revenue | $110,540,167 |
| Investment income | $2,007 |
| 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 | $114,675,880 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,836,089 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,290,672 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $307,706 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,519,053 |
| Travel | $1,098,993 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $71,077 |
| Interest | $30,071,315 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $929,208 |
| Insurance | $0 |
| All other expenses | $1,267,858 |
| Total functional expenses | $106,036,308 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $293,867 |
| Savings and temporary cash investments | $58,449,060 |
| Pledges and grants receivable | $313,514 |
| Accounts receivable, net | $10,283,254 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $259,843,730 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $498,344 |
| Net Land, buildings, and equipment | $1,290,305 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $330,972,074 |
| Accounts payable and accrued expenses | $16,781,914 |
| 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 | $96,882,527 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $89,755,649 |
| Total liabilities | $203,420,090 |
| Net assets without donor restrictions | $127,551,984 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $330,972,074 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Nations Foundation Inc Washington, DC | $375,786,692 | $295,874,853 |
Pact Global Microfinance Fund Washington, DC | $330,972,074 | $114,675,880 |
Globalgiving Foundation Inc Washington, DC | $58,310,702 | $98,059,515 |
Internet Society Foundation Reston, VA | $123,432,519 | $31,962,554 |
Numbersusa Support Organization Arlington, VA | $5,688,999 | $511,170 |
American Foundation For The University Of British Columbia Washington, DC | $14,042 | $1,220,455 |
American Friends Of Bait Shmaya School Inc Baltimore, MD | $688,051 | $905,183 |
Baja Nonprofit Woodbridge, VA | $1,840,960 | $2,511,494 |
Girl Determined Waynesboro, VA | $2,052,312 | $965,107 |
North American Regional Committee For St Georges College Inc Alexandria, VA | $2,204,845 | $1,691,147 |
Children Of God Relief Fund Inc Washington, DC | $3,612,231 | $658,540 |
Partners Of The Americas Foundation Washington, DC | $807,288 | $20,798 |