2023-11-08T16:42:14-06:00 2022-12-31 910189318 MOSS ADAMS LLP 6565 AMERICAS PARKWAY NE STE 600 ALBUQUERQUE NM 87110 990 2022-01-01 203154063 MCE SOCIAL CAPITAL MCES 4152304330 5758 GEARY BLVD 261 SAN FRANCISCO CA 94121 CAMILLA NESTOR CEO 4152304330 2023-11-01 1 CAMILLA NESTOR 999009999 0 PAMELA ALEXANDERSON P01218925 5058787200 2023-11-01 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z GARY FORD 5758 GEARY BLVD 261 SAN FRANCISCO CA 94121 39632352 0 X WWW.MCESOCAP.ORG X 2005 CA MCE INVESTS CAPITAL IN ENTERPRISES COMMITTED TO GENERATING SUSTAINABLE LIVELIHOODS. 18 13 19 32 0 0 1660168 5988712 4031228 4517400 53481 123405 405053 974517 6149930 11604034 0 0 0 0 1880125 2423978 0 0 227336 4080260 9974013 5960385 12397991 189545 -793957 62791597 77753967 52885199 68848672 9906398 8905295 TO GENERATE ECONOMIC OPPORTUNITIES FOR WOMEN AND FAMILIES IN UNDERSERVED COMMUNITIES THROUGHOUT THE DEVELOPING WORLD. 0 0 10372127 5491917 DURING 2022, MCE SOCIAL CAPITAL ISSUED A COMBINED $40.3 MILLION IN NEW LOANS TO 28 FINANCIAL SERVICE PROVIDERS AND SMALL AND GROWING BUSINESSES. AT THE END OF 2022, MCE'S TOTAL OUTSTANDING PORTFOLIO OF LOANS WAS $64.5 MILLION HELD BY 50 FSPS AND SGBS. THIS CAPITAL WILL BE USED TO SUPPORT THE DEVELOPMENT OF BUSINESSES AND SOCIAL ENTERPRISES IN 32 COUNTRIES AROUND THE WORLD. SINCE DISBURSING ITS FIRST LOAN IN 2006, MCE HAS FINANCED LOANS FOR 114 FSPS AND 32 SGBS IN 65 COUNTRIES. 10372127 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 67 0 1 19 1 0 1 NL 0 0 0 0 0 0 0 0 0 0 X 18 13 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA CO KY MA MD MN NC NH NJ NY OH PA UT VA WA X X MARCIA MYERS 4152304330 5758 GEARY BLVD 261 SAN FRANCISCO CA 94121 GARY FORD CHAIRMAN OF THE BOD 1.30 X X 0 0 0 KEVIN CARNAHAN BOARD MEMBER, TREASURER & SECRETARY 3.80 X X 0 0 0 AYESHA WAGLE BOARD MEMBER 0.90 X 0 0 0 DAN BRUNNER BOARD MEMBER 4.10 X 0 0 0 ERIC MCCALLUM BOARD MEMBER 2.40 X 0 0 0 JIM CHU BOARD MEMBER 2.40 X 0 0 0 JIM DAVIDSON BOARD MEMBER 2.40 X 0 0 0 JOHN AYLIFFE BOARD MEMBER 3.80 X 0 0 0 JUSTIN MORALES BOARD MEMBER 1.00 X 0 0 0 KANINI MUTOONI BOARD MEMBER 0.90 X 0 0 0 KAREN ANSARA BOARD MEMBER 1.10 X 0 0 0 LAURA DEVERE BOARD MEMBER (THRU 12/22) 0.80 X 0 0 0 LEAH BRADFORD FRANCIS BOARD MEMBER 2.40 X 0 0 0 MEG STALLARD BOARD MEMBER 0.90 X 0 0 0 NANCY SWANSON BOARD MEMBER 1.00 X 0 0 0 RAYMOND J DUNN JAY DUNN BOARD MEMBER 1.00 X 0 0 0 SAYURI SHARPER BOARD MEMBER 2.50 X 0 0 0 WILLIAM WAY BOARD MEMBER 1.30 X 0 0 0 CAMILLA NESTOR CEO 40.00 X 244730 0 19354 GENEVIEVE R LLAMZON GENERAL COUNSEL & COO 40.00 X 159713 0 13173 CATHERINE COVINGTON MAN DIR & CHIEF BUS DEV OFFICER 40.00 X 152507 0 21556 MARCIA MYERS MANAGING DIR. & CFO 40.00 X 126467 0 18114 ELENA PONS MANAGING DIRECTOR & CIO 40.00 X 100133 0 0 WENDY TURMAN MANAGING DIR. & CFO (THRU 6/22) 40.00 X 86750 0 15973 PIERRE BERARD MANAGING DIR. & CIO (THRU 6/22) 40.00 X 80916 0 9332 ROBERT TAYLOR SENIOR ADVISOR 0.50 X 0 0 0 CAROLYN HAN INVESTMENT MANAGER 40.00 X 107399 0 10162 1058615 0 107664 6 0 1 0 0 65880 437500 5485332 5988712 FINANCIAL SERVICE PROVIDER LOANS 525990 3704139 3704139 SMALL GROWING BUSINESS LOANS 525990 813261 813261 4517400 13837 13837 28137886 28028318 109568 109568 109568 CREDIT LOSS RECOVERIES 525990 974517 974517 974517 11604034 5491917 0 123405 1072603 697192 268151 107260 1052055 973597 56041 22417 19040 12376 4760 1904 70137 45589 17534 7014 210143 136593 52536 21014 22812 14828 5703 2281 84140 84140 97522 97522 3977 2585 994 398 61981 45954 11560 4467 36760 24588 8694 3478 81943 53263 20486 8194 33393 21706 8348 3339 232835 188441 32311 12083 15809 15742 48 19 1856119 1856119 39378 26369 9292 3717 BAD DEBT EXPENSE 6030965 6030965 REMEASUREMENT OF GUARAN 1046033 1046033 STRATEGIC INITIATIVES 283468 184254 70867 28347 BUSINESS DEVELOPMENT 21925 21925 24953 20041 3508 1404 12397991 10372127 1798528 227336 8216836 10100025 918669 1988310 234311 603266 35776 75148 238125 48902866 58172484 4245014 6814734 62791597 77753967 378263 232085 10636096 19772863 41356061 48234583 514779 609141 52885199 68848672 X 4785934 4438971 5120464 4466324 9906398 8905295 62791597 77753967 -793957 -207146 0 X X 0 1 X 1 1 1 X 1968193 2158875 6841752 1660168 5988712 18617700 3842678 4391728 4365451 4031228 4517400 21148485 5810871 6550603 11207203 5691396 10506112 39766185 587938 409147 43375 599294 757096 2396850 0 587938 409147 43375 599294 757096 2396850 37369335 242999 6296 4218 3862 13837 271212 242999 6296 4218 3862 13837 271212 13000 171 148154 405053 974517 1540895 6066870 6557070 11359575 6100311 11494466 41578292 0.89880 0.92270 0.00650 0.01040 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: CREDIT LOSS RECOVERIES - 2018 AMOUNT: $ 13,000. 2019 AMOUNT: $ 171. 2020 AMOUNT: $ 148,154. 2021 AMOUNT: $ 405,053. 2022 AMOUNT: $ 974,517. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 SOCIAL INVESTMENT LOANS 58172484 C 58172484 OTHER ASSETS 404020 INTEREST RECEIVABLE 597011 GUARANTOR RECEIVABLE 5813703 6814734 INTEREST PAYABLE 609141 609141 X 2557091 -207146 190842 -16304 2573395 97522 8933117 9030639 11604034 3558194 190842 190842 3367352 97522 8933117 9030639 12397991 PART X, LINE 2: THE ORGANIZATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND, THEREFORE, THERE IS NO PROVISION FOR INCOME TAXES. IN ADDITION, THE ORGANIZATION QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170 OF THE CODE AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. INCOME DETERMINED TO BE UNRELATED BUSINESS TAXABLE INCOME (UBIT) WOULD BE TAXABLE. THE ORGANIZATION EVALUATES ITS UNCERTAIN TAX POSITIONS, IF ANY, ON A CONTINUAL BASIS THROUGH REVIEW OF ITS POLICIES AND PROCEDURES, REVIEW OF ITS REGULAR TAX FILINGS, AND DISCUSSIONS WITH OUTSIDE EXPERTS. AS OF DECEMBER 31, 2022 AND 2021, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 1,856,119. REMEASUREMENT OF GUARANTOR CONTRIBUTIONS 1,046,033. LOAN WRITE-OFF 6,030,965. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 1,856,119. REMEASUREMENT OF GUARANTOR CONTRIBUTIONS 1,046,033. LOAN WRITE-OFF 6,030,965. SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 7445891 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 LOANS TO MFI'S AND SGB'S LOCATED IN THE REGION 10018436 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 7000000 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 7988190 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 8228675 EUROPE (INCLUDING ICELAND & GREENLAND) 1 7 PORTFOLIO HUB OFFICE 505875 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 0 PROGRAM SERVICES MCE SOCIAL CAPITAL STICHTING - ACTIVITIES TO REDUCE POVERTY 160947 2 7 0 0 2 7 41348014 0 41348014 0 0 1 0 0 0 PART III ACCOUNTING METHOD: PART I, LINE 3, COLUMN F: METHOD USED TO REPORT TOTAL EXPENDITURES IS THE ACCRUAL METHOD OF ACCOUNTING. SCHEDULE F, PART IV LINE 1: FORM 926 IS NOT REQUIRED TO BE FILED BECAUSE THE TRANSFER TO A FOREIGN CORPORATION DOES NOT MEET THE REPORTING REQUIREMENTS IN THE IRC SEC 6038B(A)(1)(A). X X X 0 0 0 0 0 0 0 1 0 CAMILLA NESTOR CEO 220980 0 23750 0 0 0 7463 0 11891 0 264084 0 0 0 CATHERINE COVINGTON MAN DIR & CHIEF BUS DEV OFFICER 145007 0 7500 0 0 0 4751 0 16805 0 174063 0 0 0 GENEVIEVE R LLAMZON GENERAL COUNSEL & COO 157213 0 2500 0 0 0 4383 0 8790 0 172886 0 0 0 PART I, LINE 7 THE ORGANIZATION PAYS BONUSES TO SPECIFIC INDIVIDUALS FOR MEETING COMPANY GOALS. BONUSES ARE APPROVED BY THE BOARD OF DIRECTORS. BLINK #N-01019 GNA 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 250000 0 1 1 BLINK #N-01022 VA 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 29743 13726 0 1 1 BLINK #N-01023 VA 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 23750 24355 0 1 1 BLINK #N-01024 VA 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR - LAURA DEVERE PROVIDE CAPITAL FOR MICROLOANS X 0 14236 0 1 1 BLINK #N-01025 VA 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR - LAURA DEVERE PROVIDE CAPITAL FOR MICROLOANS X 0 59424 0 1 1 BLINK CV B-08003 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 3000000 3000000 0 1 1 BLINK CV #B-08007 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 1600000 1600000 0 1 1 BLINK CV #N-01003 COMACO 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 62500 0 1 1 BLINK CV #N-01008 PO 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 256932 0 1 1 BLINK CV #N-01009 VA 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 125000 129190 0 1 1 BRAKEMAN FAMILY TRUST - N-01026 GNA SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 0 450000 0 1 1 DF IMPACT CAPITAL #A-08021 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 100000 100000 0 1 1 DF IMPACT CAPITAL #X-0104 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 100000 100000 0 1 1 ERIC MCCALLUM A-08029 CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 200000 200000 0 1 1 GARY FORD P-10074 CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 250000 0 1 1 ISENBERG FAMILY #X-0102 SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 5000000 5000000 0 1 1 JEANETTE G LEWIS TRUST JONATHAN C LEWIS & - B-104 SGB 35% CONTROLLED ENTITY OF FOUNDER PROVIDE CAPITAL FOR MICROLOANS X 500000 500000 0 1 1 JOHNATHAN C LEWIS AND JEANETTE C LEWIS TRUST 35% CONTROLLED ENTITY OF FOUNDER PROVIDE CAPITAL FOR MICROLOANS X 1000000 1000000 0 1 1 KUO SHARPER FOUNDATI - N-01027 GNA 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 0 150000 0 1 1 MGR TRUST #A-08025 SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 500000 500000 0 1 1 SCOTT CSATTERWHITE A-08026 SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 1000000 1000000 0 1 1 SWIFT FOUNDATION #C-08001 SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 400000 400000 0 1 1 THE LIBRA FOUNDATION #N-01005 COMACO SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 62500 0 1 1 THE LIBRA FOUNDATION #X-0101 SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 2000000 2000000 0 1 1 UMSIZI FUND - A-08033 35% CONTROLLED ENTITY BY A SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 500000 500000 0 1 1 UMSIZI FUND #B-08009 35% CONTROLLED ENTITY BY A SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 500000 500000 0 1 1 BLINK CV #B-08007-2 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 400000 400000 0 1 1 UMSIZI FUND - X-0107 35% CONTROLLED ENTITY BY A SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 500000 500000 0 1 1 ALAN HOOPS A-08024 SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 500000 500000 0 1 1 1999 KAREN KEATING A-08017 CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 250000 0 0 0 19772863 FORM 990, PART VI, SECTION A, LINE 2 JAY DUNN (DIRECTOR) HAS A BUSINESS RELATIONSHIP WITH JIM CHU (DIRECTOR) AND JIM DAVIDSON (DIRECTOR). FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 IS PRESENTED TO MANAGEMENT FOR REVIEW. ONCE MANAGEMENT HAS MADE ANY NECESSARY CHANGES, THE FORM 990 IS SUBMITTED TO THE AUDIT COMMITTEE FOR APPROVAL. THE AUDIT COMMITTEE IS COMPRISED OF THREE MEMBERS OF THE BOARD OF DIRECTORS. IT IS ELECTED BY THE BOARD TO ASSIST THE BOARD IN FULFILLING ITS OVERSIGHT RESPONSIBILITIES BY REVIEWING: THE FINANCIAL REPORTS AND OTHER FINANCIAL INFORMATION PROVIDED BY THE ORGANIZATION TO ANY GOVERNMENTAL BODY OR THE PUBLIC; THE ORGANIZATION'S SYSTEMS OF INTERNAL CONTROLS REGARDING FINANCE, ACCOUNTING, AND LEGAL COMPLIANCE THAT MANAGEMENT AND THE BOARD HAVE ESTABLISHED; AND THE CORPORATION'S AUDITING, ACCOUNTING AND FINANCIAL REPORTING PROCESSES IN GENERAL. A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO THE BOARD PRIOR TO FILING ELECTRONICALLY. FORM 990, PART VI, SECTION B, LINE 12C MCE HAS A WRITTEN CONFLICT OF INTEREST POLICY, WHICH IS POSTED ON ITS WEBSITE. ACCORDING TO THE POLICY, ALL MEMBERS, OFFICERS, COMMITTEE MEMBERS (INCLUDING ADVISORY MEMBERS), EMPLOYEES AND OTHER PERSONS DESIGNATED BY THE MEMBERS AS SUBJECT TO THE POLICY ARE REQUIRED TO REVIEW AND SIGN MCE'S CONFLICT OF INTEREST POLICY EACH YEAR. BOARD MEMBERS AND STAFF MEMBERS ARE REQUIRED TO SIGN THE STATEMENT AT THE BEGINNING OF EACH FISCAL YEAR. IF A POTENTIAL CONFLICT OF INTEREST IS DISCOVERED, THE INDIVIDUAL WITH THE CONFLICT SHALL NOT PARTICIPATE OR BE PERMITTED TO HEAR THE MEMBERS' DISCUSSIONS OR VOTE. IN ADDITION, THE MEMBERS SHALL DECIDE BY MAJORITY VOTE WHETHER OR NOT AN ACTUAL CONFLICT EXISTS. IF THE MEMBERS FIND THAT A CONFLICT OF INTEREST DOES EXIST, A DISINTERESTED PERSON WILL BE APPOINTED TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION. THE MEMBERS WILL THEN DETERMINE A REASONABLE SOLUTION. FORM 990, PART VI, SECTION B, LINE 15 THE SALARIES OF MCE'S OFFICERS ARE SET BY THE CEO BASED ON COMPARABLE SALARIES, EMPLOYEE QUALIFICATIONS, THE REQUIREMENTS OF THE POSITION, AND PROFESSIONAL JUDGMENT. IN 2020, THE BOARD OF DIRECTORS FORMED A COMPENSATION COMMITTEE TO SET THE SALARY FOR THE CEO, AND WILL CONTINUE TO MANAGE THE SALARY OF THE CEO GOING FORWARD. THE SALARIES OF THE OTHER OFFICERS WILL CONTINUE TO BE SET BY THE CEO BASED ON THE SAME STANDARDS AS PREVIOUSLY USED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC VIA ITS WEBSITE. PART XII, LINE 2C NO CHANGE FROM PRIOR PERIOD. MCE EMPOWERING SUSTAINABLE AGRICULTURE FUND LLC 5758 GEARY BLVD STE 261 SAN FRANCISCO CA 94121 883971937 LOCAL COMMUNITY INVESTING CA 0 0 MCE SOCIAL CAPITAL MCE SOCIAL CAPITAL STICHTING KEIZERSGRACHT 391 A 1016 EJ AMSTERDAM NL REDUCE POVERTY NL MCE SOCIAL CAPITAL 1 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 MCE SOCIAL CAPITAL STICHTING C 65880 FMV