2024-11-15T09:38:17-06:00 2023-12-31 270162544 INDINERO 440 N BARRANCA AVE 4637 COVINA CA 91723 990 2023-01-01 133836581 SHARED INTEREST INC SHAR 6096380398 1412 BROADWAY 21ST FLOOR MA 126 NEW YORK NY 10018 AMYE JAMESON SENIOR DIRECTOR OF OPERATIONS 6096380398 2024-11-15 1 0 TERRI REGAN CPA P00449706 8554634637 2024-11-15 2023 2024-10-15 13:58:12Z AMYE JAMESON 1412 BROADWAY 21ST FLOOR MA 126 NEW YORK NY 10018 5254161 0 X WWW.SHAREDINTEREST.ORG X 1995 DE TO PROMOTE THE EQUITABLE DEVELOPMENT OF POST-APARTHEID SOUTH AFRICA AND NEIGHBORING COUNTRIES BY GUARANTEEING BANK LOANS TO LOW-INCOME BORROWERS SO THAT THEY MAYSUPPORT THEIR FAMILIES, BUILD OR EXPAND THEIR DWELLINGS OR STARTBUSINESSES WHICH IN TURN GENERATE EMPLOYMENT FOR OTHERS IN THEIRCOMMUNITIES. 21 21 5 100 0 0 737265 683911 182913 281657 190588 229456 128893 -41296 1239659 1153728 0 0 0 0 726871 554312 0 0 110028 902889 723921 1629760 1278233 -390101 -124505 14330122 12827933 12282917 10817714 2047205 2010219 X THE ORGANIZATION SEEKS TO PROMOTE SOCIAL RECONSTRUCTION IN SOUTH AFRICA AND NEIGHBORING COUNTRIES BY FACILITATING ACCESS TO CREDIT FOR LOW-INCOME BORROWERS THROUGH THE PROVISION OF LOAN GUARANTEES TO MAINSTREAM BANKS AND OTHER FINANCIAL INSTITUTIONS. AS THESE LENDERS HAVE HISTORICALLY BEEN RELUCTANT TO EXTEND CREDIT TO A SECTOR OF THE POPULATION THEY CONSIDER UN-BANKABLE, THE MAJORITY OF SOUTHERN AFRICAN CITIZENS, ABSENT THE GUARANTEES, WOULD CONTINUE TO BE ECONOMICALLY MARGINALIZED. 0 0 1077066 281657 THE ORGANIZATION HAD OUTSTANDING AGREEMENTS GUARANTEEING COMMERCIAL LOANS TO SMALL AND GROWING BUSINESSES, AGRICULTURAL ENTERPRISES AND MICRO-FINANCE INSTITUTIONS IN THE SOUTHERN AFRICA REGION. THE AGGREGATE EXPOSURE INVOLVED IN THE GUARANTEES TOTALED $3,485,000. BECAUSE THE CREDIT FACILITIES ARRANGED BY SHARED INTEREST WERE LIMITED TO NO MORETHAN 75% OF THE LOANS THEY BACKED, THE GUARANTEES ULTIMATELY UNLOCKED TOTAL LENDING OF SUMS IN EXCESS OF THE STATED AMOUNT BY VIRTUE OF THE RISK-SHARING AGREED IN THE CONTRACTS BETWEEN LOCAL INSTITUTIONS AND THE ORGANIZATIONS. ADDITIONALLY, THE GUARANTEE PROGRAM, IMPLEMENTED BY MEANS OF THE PROVEN TRANS-BORDER MECHANISM OF STANDBY BANK LETTERS OF CREDIT, CONTINUED TO GIVE THE CONFIDENCE TO SOUTHERN AFRICAN NON-BANK FINANCIALS INSTITUTIONS AND OTHER ALTERNATIVE LENDERS TO PUT CAPITAL AT RISK IN THE SPHERE OF SMALL BUSINESS FINANCE AND LENDING TO ECONOMICALLY-DISENFRANCHISED INDIVIDUALS. COLLATERALIZING THE LETTERS OF CREDIT, WERE THE US-CUSTODIED INVESTMENTS OF THE ORGANIZATION, FUNDED BY LOANS AND DONATIONS BY AMERICAN INDIVIDUALS, FAMILY FOUNDATIONS, FAITH-BASED INSTITUTIONS. HEALTHCARE SYSTEMS AND OTHER INVESTORS ACCEPTING CONCESSIONARY FINANCIAL RETURNS IN EXCHANGE FOR THE SOCIAL IMPACT THAT THE ORGANIZATION HELPS TO CREATE. 1077066 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 12 0 1 5 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X ANN MCMIKEL 2123378547 1412 BROADWAY 21ST FLOOR MA 126 NEW YORK NY 10018 SHARRON MCPHERSON DIRECTOR & CHAIR 4.00 X X 0 0 0 DAVID WILDMAN DIRECTOR & VICE CHAIRMAN 3.00 X X 0 0 0 LOUISE NANKIINGA DIRECTOR & TREASURER 3.00 X X 0 0 0 ADRIENNE BAILEY DIRECTOR & SECRETARY 3.00 X X 0 0 0 SANDRA APPIAH DIRECTOR 2.00 X 0 0 0 ALEAH BACQUIE VAUGHN DIRECTOR 2.00 X 0 0 0 JESSICA BENJAMIN DIRECTOR 2.00 X 0 0 0 LEA CONRAD DIRECTOR 2.00 X 0 0 0 SCHUYLA GOODSON DIRECTOR 2.00 X 0 0 0 DIANE KEEFE DIRECTOR 2.00 X 0 0 0 FAITH KHANYILE DIRECTOR 2.00 X 0 0 0 STACY MANVITZ DIRECTOR 2.00 X 0 0 0 SUSAN MARX DIRECTOR 2.00 X 0 0 0 CHARLOTTE MCCLAIN-NHLAPO DIRECTOR 2.00 X 0 0 0 LINNIE MCLEAN DIRECTOR 2.00 X 0 0 0 PALESA MORUDU DIRECTOR 2.00 X 0 0 0 JIM MUNSON DIRECTOR 2.00 X 0 0 0 SIPHIWE NODWELE DIRECTOR 2.00 X 0 0 0 TIMOTHY SMITH DIRECTOR 2.00 X 0 0 0 CYNTHIA SPENCE DIRECTOR 2.00 X 0 0 0 RICHARD TOLLIVER DIRECTOR 2.00 X 0 0 0 ANN MCMIKEL EXECUTIVE DIRECTOR 50.00 X 185000 0 0 SHUKURA SHEARS DIR OF INDIVIDUAL GIVING 45.00 X 106187 0 0 291187 0 0 2 0 1 0 0 104053 579858 99135 683911 EARNED INTEREST GUARANTEE ACCOUNT 523000 214657 214657 GUARANTEE INCOME (L/C FEES) 523000 67000 67000 281657 91034 91034 4197559 4059137 138422 138422 138422 0 104053 41296 -41296 -41296 1153728 281657 0 188160 X 185000 146150 11100 27750 249813 197352 14989 37472 85067 67203 5104 12760 34432 27201 2066 5165 7000 3500 3500 61725 30862 30863 458467 450138 8329 15996 15996 25492 20139 1529 3824 6311 4985 379 947 17301 13668 1038 2595 42562 38887 3675 171 171 3696 2920 222 554 10586 8363 635 1588 SPECIAL EVENT EXPENSE 38609 26863 11746 BANK SERVICE CHARGES 22548 15107 7441 DUES, SUBSCRIPTIONS AND 13223 7547 3930 1746 MISCELLANEOUS EXPENSE 234 185 14 35 1278233 1077066 91139 110028 327626 50934 1067163 50600 46344 12606 8980 31294 22945 10201 8349 11906353 8856832 1855760 2591847 166976 197484 14330122 12827933 137895 85968 12102500 10707500 42522 24246 12282917 10817714 X 2037205 2010219 10000 0 2047205 2010219 14330122 12827933 -124505 87519 0 X X 0 1 X 1 0 X 1138357 1179595 1317420 858463 683911 5177746 1138357 1179595 1317420 858463 683911 5177746 5177746 194476 105775 99615 190588 91034 681488 5859234 23687 0.88370 0.88570 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7791 7791 0 23503 15154 8349 8349 VANGUARD GNMA FUND 939905 F INT'L BK FOR RECON & DEV FIXED RT GLOBAL NT SERIES 978860 F INT'L BK FOR RECON & DEV MEDIUM TERM NT SERIES 673082 F 2591847 ACCRUED INTEREST 24246 24246 X 1295082 87519 12539 41296 141354 1153728 0 1153728 1332068 12539 41296 53835 1278233 0 1278233 PART X, LINE 2: INCOME TAXES THE ORGANIZATION HAS BEEN APPROVED AS A TAX-EXEMPT ORGANIZATION UNDER THE INTERNAL REVENUE CODE SECTION 501(C)(3). THE ORGANIZATION IS ALSO EXEMPT FROM STATE AND LOCAL INCOME TAXES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS MADE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION HAS CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. IF THE ORGANIZATION WAS TO INCUR AN INCOME TAX LIABILITY IN THE FUTURE, INTEREST ON ANY INCOME TAX LIABILITY WOULD BE REPORTED AS INTEREST EXPENSE AND PENALTIES ON ANY INCOME TAX LIABILITY WOULD BE REPORTED AS INCOME TAXES. THE ORGANIZATION'S CONCLUSIONS REGARDING UNCERTAIN TAX POSITIONS MAY BE SUBJECT TO REVIEW AND ADJUSTMENT AT A LATER DATE BASED UPON ONGOING ANALYSES OF TAX LAWS, REGULATIONS, AND INTERPRETATIONS THEREOF AS WELL AS OTHER FACTORS. GENERALLY, FEDERAL, STATE, AND LOCAL AUTHORITIES MAY EXAMINE THE ORGANIZATION'S TAX RETURNS FOR THREE YEARS FROM THE DATE OF FILING; CONSEQUENTLY, THE RESPECTIVE TAX RETURNS FOR YEARS PRIOR TO 2020 ARE NO LONGER SUBJECT TO EXAMINATION BY TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 41,296. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 41,296. SUB-SAHARAN AFRICA 0 0 FUNDRAISING EVENT 26863 0 0 0 0 0 0 26863 0 26863 0 0 0 0 0 0 VOICES OF CHANGE (ATLANTA) 51220 51220 2425 10921 3000 3619 GALA 50500 50500 608 4 2333 2333 3600 13324 3799 104053 104053 6025 24853 3000 7418 41296 -41296 0 0 0 0 0 0 0 0 0 ANN MCMIKEL EXECUTIVE DIRECTOR 185000 0 0 0 0 0 0 0 0 0 185000 0 0 0 X 1 99135 COMPARABLE SALES 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B ONCE A TENTATIVE FORM 990 IS PREPARED, THE ORGANIZATION FORWARDS AN ELECTRONIC COPY TO EACH OF THE MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. ACCOMPANYING THE DRAFT FORM IS A NARRATIVE WHICH INCLUDED HIGHLIGHTS OF ANY CHANGES IN THE FORM FROM THE PRIOR YEAR VERSION. CONVENING BY CONFERENCE CALL, THE EXECUTIVE COMMITTEE REVIEWS THE DRAFT PAYING PARTICULAR ATTENTION TO GOVERNANCE ISSUES AND FINANCIAL ISSUES TO THE EXTENT THEY HAVE BEARING ON THE PRESERVATION OF THE ORGANIZATION'S TAX EXEMPT STATUS. ONCE THE COMMITTEE IS SATISFIED, THEIR INPUT IS REFLECTED IN THE DRAFT FORM, A COPY OF THE 990, AND ALL OF ITS SCHEDULES, IS FORWARDED TO EACH MEMBER OF THE FULL BOARD WITH INSTRUCTIONS THAT, SHOULD THEY HAVE COMMENTS, THEY NEED RESPOND AS SOON AS POSSIBLE SO THAT THE FINAL DOCUMENT IS FILED TIMELY. FORM 990, PART VI, SECTION B, LINE 12C EVERY YEAR, BEFORE ITS NOVEMBER ANNUAL MEETING, SHARED INTEREST DISTRIBUTES A CONFLICT OF INTEREST FORM TO EACH MEMBER OF THE BOARD AND REQUIRES THAT EACH BOARD MEMBER COMPLETE AND RETURN IT PRIOR TO THE CONCLUSION OF THE MEEITNG. THE FORM SEEKS DISCLOSURE OF ANY CONFLICT OF INTEREST IN THE CONTEXT OF IRS GUIDANCE TO THE FORM 990 AND ITS GLOSSARY DEFINING KEY TERMS. FORM 990, PART VI, SECTION B, LINE 15 SHARED INTEREST'S BOARD MEMBERS, WITH THE EXCEPTION OF A SINGLE NON-VOTING OFFICER/EMPLOYEE (THE ORGANIZATION'S EXECUTIVE DIRECTOR), SERVE VOLUNTARILY AND RECEIVE NO COMPENSATION SAVE FOR A REASONABLE REIMBURSEMENT OF EXPENSES RELATED TO THEIR WORK AS BOARD MEMBERS. EVERY TWO YEARS, THE BOARD'S PERSONNEL COMMITTEE REVIEWS EXISTING SALARY RANGES FOR ALL OF SHARED INTEREST'S EMPLOYEES AND SETS THOSE RANGES ANEW BASED ON COMPARABILITY STUDIES AND DATA FROM LIKE ORGANIZATIONS IN THE NEW YORK CITY AREA. AFTER DETERMINING THE RANGES, THE COMMITTEE MAKES RECOMMENDATIONS FOR ADOPTION BY THE FULL BOARD AND SEES TO IT THAT SALARIES OF ALL HIRES FALL WITHIN POLICY PARAMETERS. SHOULD A BOARD MEMBER, ON A ONE-OFF BASIS, APPLY FOR COMPENSATION THAT COULD POSSIBLE BE INTERPRETED AS PRESENTING A CONFLICT OF INTEREST, THE BOARD WILL REFER TO ITS WRITTEN POLICY DOCUMENT AND PROCEED TO ADDRESS THE ISSUE IN THE MANNER PRESCRIBED. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PARTY, S/HE MUST LEAVE THE BOARD OF DIRECTORS OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON BY DISINTERESTED MEMBERS. IN THEIR DELIBERATIONS, THE BOARD OF DIRECTORS OR COMMITTEE MEMBERS SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR ANY COMMITTEE SHALL DETERMINE BY MAJORITY VOTE OF DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE AND AT ARM'S LENGTH. ONLY THEN WILL THE APPLICANT AND THE ORGANIZATION SIGN AN AGREEMENT RESULTING IN COMPENSATION TO THE BOARD MEMBER APPLICANT. FORM 990, PART VI, SECTION C, LINE 19 ALL OF SHARED INTEREST'S GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL DOCUMENTS ARE AVAILABLE TO THE PUBLIC AT NO CHARGE FOR PHOTOCOPYING OR PRINTING. WHILE WE HAVE NOT YET HAD ANYONE ASK TO INSPECT OUR DOCUMENTS IN THE OFFICE, WE WOULD BE PLEASED TO MAKE THESE AVAILABLE ON OUR PREMISES AT A MUTUALLY CONVENIENT TIME. WHILE WE HAVE NOT YET HAD ANYONE ASK TO INSPECT OUR DOCUMENTS IN THE OFFICE, WE WOULD BE PLEASED TO MAKE THESE AVAILABLE ON OUR PREMISES AT A MUTUALLY CONVENIENT TIME. WHILE INTERESTED PARTIES GENERALLY FIND OUR FORM 990 EITHER ON OUR OWN WEBSITE OR THAT OF THE NYS ATTORNEY GENERAL, SHARED INTEREST ALSO MAKES ITS ANNUAL REPORT, WHICH CONTAINS ITS MOST RECENT AUDITED FINANCIALS, AVAILABLE ON ITS OWN SITE (AND ALSO MAILS AND EMAILS COPIES TO ALL SUPPORTERS FOR WHOM IT HAS EITHER STREET OR ELECTRONIC ADDRESSES). FORM 990, PART IX, LINE 11G CONSULTANTS: PROGRAM SERVICE EXPENSES 450,138. MANAGEMENT AND GENERAL EXPENSES 8,329. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 458,467. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE IN OVERSIGHT OR THE SELECTION PROCESS.