2024-10-18T14:27:34-05:00 2023-12-31 390974031 WEGNER CPAS LLP 419 N LEE ST ALEXANDRIA VA 223142301 990 2023-01-01 850922903 MOJALOOP FOUNDATION INC MOJA 7812460500 401 EDGEWATER PLACE 600 WAKEFIELD MA 01880 PAULA HUNTER EXECUTIVE DIRECTOR & SECRETARY 7812460500 2024-10-17 1 1 GLENN MILLER CPA P00086726 7035190990 2024-10-15 2023 2024-10-15 13:58:12Z PAULA HUNTER 401 EDGEWATER PLACE 600 WAKEFIELD MA 01880 5419121 0 X MOJALOOP.IO/FOUNDATION X 2020 DE OUR MISSION IS TO INCREASE FINANCIAL INCLUSION BY EMPOWERING ORGANIZATIONS CREATING INTEROPERABLE PAYMENTS SYSTEMS TO ENABLE DIGITAL FINANCIAL SERVICES FOR ALL. 5 5 0 50 0 0 2254793 4713288 797500 705833 0 0 0 0 3052293 5419121 0 0 0 0 0 0 0 0 123342 2558965 3298876 2558965 3298876 493328 2120245 2514232 4731812 438589 535924 2075643 4195888 OUR MISSION IS TO INCREASE FINANCIAL INCLUSION BY EMPOWERING ORGANIZATIONS CREATING INTEROPERABLE PAYMENTS SYSTEMS TO ENABLE DIGITAL FINANCIAL SERVICES FOR ALL. 0 0 2640062 0 705833 THE ORGANIZATION MAINTAINS THE FREE, OPEN SOURCE SOFTWARE, MOJALOOP, AND ITS COMMUNITY AS PUBLIC GOODS IN SERVICE OF FINANCIAL INCLUSION. MERCHANTS, CENTRAL BANKS, SERVICE PROVIDERS, GOVERNMENT OFFICES, AND OTHER ENTITIES LOOKING TO BUILD INCLUSIVE PAYMENTS PLATFORMS CAN USE MOJALOOP--WHOLE, ADAPTED, OR AS A REAL-TIME PAYMENTS REFERENCE MODEL. MEMBERSHIP IS OPEN TO MISSION-DRIVEN, NON-GOVERNMENTAL AND TECHNOLOGY ENTITIES FOCUSED ON ADVANCING FINANCIAL INCLUSION. TRAINING, EVENTS, AND OTHER EDUCATIONAL ACTIVITIES ARE PROVIDED TO THE COMMUNITY, AND PARTICIPATION IN THE COMMUNITY IS OPEN AND FREE TO ALL. 2640062 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 X VIRTUAL INC 7812460500 401 EDGEWATER PLACE STE 600 WAKEFIELD MA 01880 X KONSTANTIN PERIC CHAIR 1.00 X X 0 0 0 ROBERT RON TREASURER 1.00 X X 0 0 0 ADAMA DIALLO DIRECTOR 1.00 X 0 0 0 KEN WEBER DIRECTOR 1.00 X 0 0 0 MILLER ABEL DIRECTOR 1.00 X 0 0 0 MATSELISO THABANE DIRECTOR (THRU 05/2023) 1.00 X 0 0 0 KEVIN O'NEIL DIRECTOR (THRU 09/2023) 1.00 X 0 0 0 PAULA HUNTER EXECUTIVE DIRECTOR & SECRE 40.00 X 0 0 0 0 0 0 0 0 0 0 VIRTUAL INC 401 EDGEWATER PLACE STE 600 WAKEFIELD MA 01880 MANAGEMENT SERVICES 742128 STEVE HALEY 8025 SW LAURELWOOD CO PORTLAND OR 97225 DIRECTOR MARKET DEVELOPMENT AND PARTNERS 231250 STRANGE LANDS LTD MANSION HOUSE MANCHESTER ROAD CHESHIRE UK WA14 4RW SOFTWARE ENGINEERING CONSULTANCY 166193 TROUVER LTD 10A GREAT WESTERN TERRACE GLASGOW UK G12 0UP PRODUCT MANAGER 152000 CROSSLAKE TECHNOLOGIES 5605 CARNEGIE BOULEVARD SUITE 175 CHARLOTTE NC 28209 IT INFRASTRUCTURE 151694 6 4713288 4713288 MEMBERSHIP DUES 813920 705833 705833 705833 5419121 705833 0 0 1576256 1261005 236438 78813 27954 27954 12700 12700 440994 352795 66149 22050 30984 24788 6052 144 587254 469803 117451 410701 328561 61605 20535 1138 910 228 7475 5980 1495 TRAVEL STIPENDS 167420 167420 MEMBERSHIP OPERATIONS 36000 28800 5400 1800 3298876 2640062 535472 123342 2445346 4675418 35000 10000 33886 16572 9960 1138 0 8822 0 21000 2514232 4731812 129839 258007 308750 277917 438589 535924 X 2075643 4195888 2075643 4195888 2514232 4731812 2120245 0 X 0 0 0 X 1605721 3582633 2254793 4713287 12156434 1605721 3582633 2254793 4713287 12156434 8421396 3735038 12156434 1503334 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9960 1138 8822 8822 FORM 990, PART VI, SECTION A, LINE 3 MOJALOOP FOUNDATION, INC. USES A MANAGEMENT COMPANY, VIRTUAL INC., TO PERFORM MANAGEMENT DUTIES CUSTOMARILY PERFORMED BY OR UNDER SUPERVISION OF OFFICERS, DIRECTORS, OR KEY EMPLOYEES. FORM 990, PART VI, SECTION A, LINE 6 THE FOUNDATION HAS TWO CLASSES OF MEMBERSHIP, REPRESENTING MEMBERS THAT PUBLICLY (BUT NONEXCLUSIVELY) SUPPORT THE FOUNDATION'S CHARITABLE AND EDUCATIONAL PURPOSES: (A) SPONSOR MEMBERS AND (B) PROMOTER MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A SPONSOR MEMBERS HAVE THE RIGHT TO APPOINT A DIRECTOR TO THE BOARD OF DIRECTORS. SPONSOR MEMBERS ALSO HAVE THE RIGHT TO APPOINT A DELEGATE TO THE TECHNICAL GOVERNING BOARD. PROMOTER MEMBERS HAVE THE RIGHT TO NOMINATE AND VOTE TO ELECT DELEGATES TO THE TECHNICAL GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE FORM 990 WAS PROVIDED TO THE ENTIRE BOARD OF DIRECTORS BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL DISTRIBUTION OF THIS POLICY AND DISCLOSURES. A COPY OF THIS POLICY MUST BE FURNISHED ANNUALLY TO ALL INCUMBENT AND INCOMING DIRECTORS AND OFFICERS OF THE FOUNDATION. EACH DIRECTOR AND OFFICER SHALL ANNUALLY SIGN A STATEMENT OR AFFIRM AT A MEETING OF THE BOARD OF DIRECTORS THAT HE OR SHE HAS RECEIVED A COPY OF THIS POLICY; HAS READ AND UNDERSTANDS THE POLICY; AND HAS AGREED TO COMPLY WITH THIS POLICY. EACH YEAR EACH DIRECTOR AND OFFICER SHALL FILE A STATEMENT WITH THE BOARD OF DIRECTORS THAT LISTS: (A) ANY OUTSIDE EMPLOYMENT OR CONSULTING WORK THAT COULD CONSTITUTE A CONFLICT; AND (B) ANY BOARD MEMBERSHIP OR AFFILIATION WITH OTHER ORGANIZATIONS THAT COULD CONSTITUTE A CONFLICT. EACH DIRECTOR AND OFFICER MUST ALSO LIST HIS OR HER INVESTMENTS IN ANY FOUNDATION, PARTNERSHIP, TRUST, OR FUND IN WHICH HE OR SHE, TOGETHER WITH MEMBERS OF HIS OR HER FAMILY, HAS DIRECTLY OR INDIRECTLY A GREATER THAN 35% OWNERSHIP INTEREST, REGARDLESS OF WHETHER SUCH INVESTMENTS COULD CONSTITUTE A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S EXECUTIVE DIRECTOR IS LEASED FROM THE MANAGEMENT COMPANY, VIRTUAL INC. THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED BY MOJALOOP'S COMPENSATION COMMITTEE. THE MOJALOOP COMPENSATION COMMITTEE IS COMPOSED OF 2-3 INDEPENDENT INDIVIDUALS INCLUDING THE TREASURER AND 1-2 BOARD MEMBERS. THE RECORDED MEETINGS OF THESE INDIVIDUALS INCLUDE REVIEW OF INDIVIDUAL PERFORMANCE AGAINST GOALS AND TARGETS, CURRENT COMPENSATION FOR COMPARABLE ROLES AT COMPARABLE ORGANIZATIONS, IRS GUIDELINES FOR REASONABLE TOTAL COMPENSATION, AND OUTSIDE INDEPENDENT COMPENSATION CONSULTANTS IF NEEDED. THE FINDINGS AND RECOMMENDATIONS FROM THESE REVIEWS ARE PRESENTED TO THE FULL MOJALOOP FOUNDATION BOARD FOR CONSIDERATION AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.