2024-08-12T09:27:08+00:00 2023-09-30 990 2022-10-01 223900800 VisionFund International VISI 6263038811 800 West Chestnut Avenue Monrovia CA 910163106 Matthew Harvey Secretary 6263038811 2024-08-12 2022 2024-08-08 14:25:15Z Elisabeth Madden 800 West Chestnut Avenue Monrovia CA 910163106 34652143 false X X 2003 CA VisionFund International (VFI) was established for the purpose of supporting World Vision International (WVI) by coordinating and providing funding to WV-affiliated microfinance institutions located in developing countries. 13 9 0 0 0 0 9090945 17951332 2782805 3489256 9207282 12654686 408868 556869 21489900 34652143 1203533 3447177 0 0 9586179 10274605 0 0 0 12992463 12121915 23782175 25843697 -2292275 8808446 216609007 214971191 67885809 65934622 148723198 149036569 VisionFund International (VFI) was established for the purpose of supporting World Vision International (WVI) by coordinating and providing funding to World Vision - affiliated microfinance institutions (MFIs) located in developing countries. The primary activity of the MFIs is to provide small loans to individuals and groups who lack access to normal banking facilities & commercially oriented microfinance services aiming to alleviate poverty and stimulate the creation of employment opportunities for the poor. false false 18449475 3447177 16700811 Micro-enterprise lending - VisionFund International extends loans to affiliated microfinance institutions (MFIs) located in underdeveloped countries as part of World Vision International's global ministry of aiding people to alleviate poverty and better their lives. At September 30, 2023, the net loans to MFIs totaled $102,766,858 compared to $86,561,705 at the end of Fiscal Year 2022. 18449475 true true false false false false false false false false false true false true false true true false true true true false false false false false false false true false false false false false false false false false false false false false true true true false false true X 0 0 0 false true UK false false false false false false X 13 9 false false false false true true true true true false false false true true true true false true true false CA X Matthew Harvey 6263038811 800 West Chestnut Avenue Monrovia CA 91016 Edgar S Martinez President and CEO 40.0 0.0 X X 288061 0 38563 James Bere Jr Board Chairman 4.0 0.0 X X 0 0 0 Andrew Morley Board of Director 1.0 40.0 X 0 604375 5572 Chris Glynn Board of Director 1.0 0.0 X 0 0 0 Dennis Weibling Board of Director 1.0 0.0 X 0 0 0 Emma Osborne Board of Director 1.0 0.0 X 0 0 0 Jean Baptiste Kamate Board of Director 1.0 40.0 X 0 346476 20986 Katherine Lam Board of Director 1.0 0.0 X 0 0 0 Luis Hermosa Board of Director 1.0 0.0 X 0 0 0 Petronella Chigara Dhitima Board of Director 1.0 0.0 X 0 0 0 Stephen Lockley Board of Director 1.0 40.0 X 0 242006 19902 Suanne DeBoer Miedema Board of Director 1.0 0.0 X 0 0 0 Tiffany T F Huang Board Vice-Chairperson 1.0 0.0 X 0 0 0 Elisabeth Madden CFO 40.0 0.0 X 0 0 0 Elizabeth Haegelin Assistant Secretary 1.0 40.0 X 0 163845 31433 John Chamberlain Finance Operations and Transformation Director 40.0 0.0 X 110974 0 8878 Kai Hutans Interim CFO 40.0 0.0 X 102288 0 18359 Matthew Harvey Secretary 20.0 20.0 X 0 165327 12164 Samuel Mwogeza CFO 40.0 0.0 X 42039 0 13919 Tim Burgett Assistant Secretary 1.0 40.0 X 0 197687 61598 Adrian Merryman Chief Development and Impact Investment Officer 40.0 0.0 X 143311 0 39828 Annelise Thornton Global Director, People & Culture 40.0 0.0 X 138348 0 11068 Launce Moses Regional Head, Asia 40.0 0.0 X 136668 0 21500 Richard Reynolds Global Director of Operations and Portfolio 40.0 0.0 X 144964 0 31300 Sally O'Neil Chief of Strategy 40.0 0.0 X 149149 0 17616 1255802 1719716 352686 39 false true false RJB SYSTEMS INC 2200 E 104th Avenue Ste 209 Thornton CO 80233 Systems Banking Services 651178 BANKBI UK LIMITED Kingfisher House Yateley England UK Systems Banking Services 504829 SOFTWARE GROUP BG LTD 115N Tsarigradsko Shosse Blvd 1784 Sofia BU Systems Banking Services 463306 KPMG LLP PO Box 120922 Dallas TX 75312 Audit Services 372700 TEMENOS HOLDINGS 2 Rue De IEcole-De-Chimie 1205 Ge SZ Systems Banking Services 240345 7 0 0 0 17362909 0 588423 0 17951332 Management fee income 523000 3489256 3489256 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3489256 12654686 12654686 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 0 0 0 0 0 0 0 0 0 0 0 0 Other non-operating income 900099 422019 422019 0 0 Donation fee income 900099 134850 134850 0 0 0 0 0 0 556869 34652143 16700811 0 0 0 0 0 0 3447177 3447177 0 0 721711 0 721711 0 0 0 0 0 7341987 3677230 3664757 0 280422 132063 148359 0 1669477 798619 870858 0 261008 95734 165274 0 347683 0 347683 0 232142 0 232142 0 0 0 0 0 693595 585150 108445 0 503667 503667 0 0 206705 80172 126533 0 1226608 539840 686768 0 2683340 2683340 0 0 Other professional fees 910985 676798 234187 0 Forex losses 1458854 1458854 0 0 Training and technical assistance 77851 28813 49038 0 Provision for loan losses and bad debts 3380104 3380104 0 0 400381 361914 38467 0 25843697 18449475 7394222 0 26685471 22384665 6087214 1377502 0 0 86561705 102766858 948624 530335 0 0 0 0 93723615 85471244 2602378 2440587 216609007 214971191 1738902 1429782 48775 151029 0 62973628 58729993 3124504 5623818 67885809 65934622 145108321 138877366 3614877 10159203 148723198 149036569 216609007 214971191 X 8808446 -8495075 X false true X true false X X 1 World Vision International 953202166 1 true 0 0 1 0 0 true false false false false false false false false false false false false false false true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Equity Investment - Ecuador 20324844 F Equity Investment - Tanzania 10433901 F Equity Investment - Mexico 9081376 F Equity Investment - Senegal 4843138 F Equity Investment - AgroInvest 4810484 F Equity Investment - Guatemala 4097593 F Equity Investment - Zambia 3737521 F Equity Investment - Ghana 3448839 F Equity Investment - Mongolia 3386841 F Equity Investment - India 3323486 F Equity Investment - Honduras 3289873 F Equity Investment - Malawi 3144622 F Equity Investment - Kenya 3109124 F Equity Investment - Uganda 3105496 F Equity Investment - Dominican Republic 2542040 F Equity Investment - Rwanda 2530265 F Equity Investment - Democratic Republic of Congo 698875 F Equity Investment - Peru 533390 F Equity Investment - Sri Lanka 302600 F Equity Investment - VF Credo 189680 F Equity Investment - Myanmar -1493857 F Equity Investment - Armenia 31113 F 85471244 0 Interest payable 755599 Other nontrade payable 4837994 Other accounts payable 30225 Impairment loss is value of subsidiary (provision) 0 5623818 144785039 0 0 0 110132896 110132896 34652143 0 0 0 34652143 134364547 0 0 0 108520850 108520850 25843697 0 0 0 25843697 Schedule D, Part XI, Line 2(d) These are subsidiaries' revenues not included in Form 990. Schedule D, Part XII, Line 2(d) These are subsidiaries' expenses not included in Form 990. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Subsidiary interest, fees and commission revenue - XXX-XX-XXXX Subsidiary indirect public support - 460726 Subsidiary other operating income - -2748666 Subsidiary funds recovered from loans written-off - 5221649 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Subsidiary operating expense - 75587521 Subsidiary interest, fees and commission expense - 14964568 Subsidiary foreign exchange loss - 5261619 Subsidiary provision for loan losses - 9924753 Subsidiary other non-operating expense - 2782389 Central America and the Caribbean 3 6 Program Services Microfinance 254242 East Asia and the Pacific 4 24 Program Services Microfinance 1018121 Europe (Including Iceland and Greenland) 3 18 Program Services Microfinance 548814 Middle East and North Africa 0 1 Program Services Microfinance 157179 North America (Canada & Mexico only) 1 6 Program Services Microfinance 358182 Russia and Neighboring States 0 1 Program Services Microfinance 209374 South America 2 3 Program Services Microfinance 244556 South Asia 2 6 Program Services Microfinance 175240 Sub-Saharan Africa 11 38 Program Services Microfinance 1947182 Central America and the Caribbean 0 0 Investments N/A 198274 North America (Canada & Mexico only) 0 0 Investments N/A 749105 South America 0 0 Investments N/A 390000 South Asia 0 0 Investments N/A 112283 Sub-Saharan Africa 0 0 Investments N/A 2819846 26 103 0 0 26 103 9182398 0 9182398 Central America and the Caribbean Recovery lending 57230 Wire transfer 0 N/A N/A East Asia and the Pacific Accelerate finance savings group 28055 Wire transfer 0 N/A N/A East Asia and the Pacific Livelihood programs, microfinance, recovery lending & accelerate finance savings group 350247 Wire transfer 0 N/A N/A East Asia and the Pacific Accelerate finance savings group 159887 Wire transfer 0 N/A N/A East Asia and the Pacific Microfinance program & accelerate finance savings group 96925 Wire transfer 0 N/A N/A South America Accelerate finance savings group 40000 Wire transfer 0 N/A N/A South Asia Accelerate finance savings group 19513 Wire transfer 0 N/A N/A Sub-Saharan Africa Recovery lending 36126 Wire transfer 0 N/A N/A Sub-Saharan Africa WASH & health insurance products 78207 Wire transfer 0 N/A N/A Sub-Saharan Africa Digitization program, accelerate finance savings group & eliminate female genital mutilation and child marriage 399405 Wire transfer 0 N/A N/A Sub-Saharan Africa Digitization program, health insurance products, livelihoods, recovery lending & accelerate finance savings group 544160 Wire transfer 0 N/A N/A Sub-Saharan Africa Health insurance products & accelerate finance savings group 389023 Wire transfer 0 N/A N/A Sub-Saharan Africa Accelerate finance savings group 25695 Wire transfer 0 N/A N/A Sub-Saharan Africa Digitization program & accelerate finance savings group 284359 Wire transfer 0 N/A N/A Sub-Saharan Africa Digitization program, WASH & accelerate finance savings group 440181 Wire transfer 0 N/A N/A Sub-Saharan Africa Digitization program, recovery lending, transformation & accelerate finance savings group 498164 Wire transfer 0 N/A N/A 0 16 false false true false false false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; MIDDLE EAST AND NORTH AFRICA-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; RUSSIA AND NEIGHBORING STATES-Accrual; SOUTH AMERICA-Accrual; SOUTH ASIA-Accrual; SUB-SAHARAN AFRICA-Accrual Schedule F, Part II, Line 1 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; SOUTH AMERICA-Accrual; SOUTH ASIA-Accrual; SUB-SAHARAN AFRICA-Accrual X X true true X X X X false false false false false false false false false Edgar S Martinez President and CEO 287179 0 0 0 882 0 0 0 38563 0 326624 0 0 0 Andrew Morley Board of Director 0 513322 0 0 0 91053 0 2466 0 3106 0 609947 0 0 Jean Baptiste Kamate Board of Director 0 249998 0 0 0 96478 0 17500 0 3486 0 367462 0 0 Stephen Lockley Board of Director 0 234038 0 0 0 7968 0 14042 0 5860 0 261908 0 0 Samuel Mwogeza CFO 42039 0 0 0 0 0 8164 0 5755 0 55958 0 0 0 Kai Hutans Interim CFO 102288 0 0 0 0 0 17548 0 811 0 120647 0 0 0 John Chamberlain Finance Operations and Transformation Director 110974 0 0 0 0 0 8878 0 0 0 119852 0 0 0 Tim Burgett Assistant Secretary 0 188857 0 0 0 8830 0 42455 0 19143 0 259285 0 0 Matthew Harvey Secretary 0 154710 0 0 0 10617 0 11691 0 473 0 177491 0 0 Elizabeth Haegelin Assistant Secretary 0 152286 0 0 0 11559 0 24981 0 6452 0 195278 0 0 Sally O'Neil Chief of Strategy 149149 0 0 0 0 0 14915 0 2701 0 166765 0 0 0 Richard Reynolds Global Director of Operations and Portfolio 143674 0 0 0 1290 0 19749 0 11551 0 176264 0 0 0 Adrian Merryman Chief Development and Impact Investment Officer 141331 0 0 0 1980 0 20828 0 19000 0 183139 0 0 0 Annelise Thornton Global Director, People & Culture 138348 0 0 0 0 0 11068 0 0 0 149416 0 0 0 Launce Moses Regional Head, Asia 136668 0 0 0 0 0 20435 0 1065 0 158168 0 0 0 Schedule J, Part I, Line 1a Tax indemnification and gross-up payments The organization provides for tax indemnification and gross-up payments to certain employees. Schedule J, Part I, Line 1a Housing allowance or residence for personal use The organization provides for housing allowance to certain employees. Form 990, Part V, Line 2a For efficiency, VisionFund International (VFI) does not maintain its own payroll; all VFI staff are employed by VFI's parent, World Vision International (WVI). US-based employees were included in WVI's 2022 W-3, Transmittal of Wage and Tax statements. Some of VFI's employees are not US residents. As such, they are not required to file tax returns with the United States, hence no W-3 was filed for them. The salary and benefit figures reported on the Form 990 Part VII Section A are for comparative purposes only and do not represent any US taxable income. Form 990, Part VI, Line 1a During the interval between meetings of the Board of Directors, the Board's Executive Committee may exercise the powers of the full Board to act upon any matters which, in the opinion of the Chairman of the Board, should not be postponed until the next previously scheduled meeting of the Board. However, the Committee does not have the power or authority of the Board in reference to: (1) matters reserved to the full Board in the company bylaws; (2) amending the company bylaws and (3) appointing or dismissing the CEO. Form 990, Part VI, Line 6 World Vision International (WVI) is the sole member of VisionFund International. Form 990, Part VI, Line 7a WVI, the parent of VFI, elects the governing body. Form 990, Part VI, Line 7b Certain decisions of the VFI Board are subject to the approval of WVI as sole member of VFI. Form 990, Part VI, Line 12c There is an annual conflict of interest disclosure statement that staff has to acknowledged and disciplinary action may include termination of employment. Form 990, Part VI, Line 11b Review of form 990 by governing body Form 990 is reviewed by the Finance Operations and Transformation Director and a legal representative of WVI. Form 990, Part VI, Line 15a Process to establish compensation of top management official The Organization engaged a compensation consulting firm to conduct an independent review of executive compensation. The data was gathered and analyzed by the head of human resources and the recommended compensation package for the CEO was approved by the full Board. Form 990, Part VI, Line 15b Process to establish compensation of other employees This process was also used to established the compensation for the positions of the CFO, Chief Development and Impact Investment Officer, Chief Strategy Officer, and Global Director of P&C and Governance. This was last carried out in 2023. Form 990, Part VI, Line 19 Required documents available to the public The organization makes its annual report available to the general public on its website, including financial reports. Other documents are available upon request. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Changes in value of Net Assets in Subsidiaries - -8495075; Form 990, Part XII, Line 2c Financial statements is reviewed by the Finance Operations and Transformation Director. The Audit and Risk Committee approves the year-end Financial Statements. Selection of independent auditor is done through the sourcing of suppliers process together with World Vision International. 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