2025-10-16T17:44:54-05:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 6565 AMERICAS PARKWAY NE STE 600 ALBUQUERQUE NM 87110 990 2024-01-01 203154063 MCE SOCIAL CAPITAL MCES 4152304330 5758 GEARY BLVD 261 SAN FRANCISCO CA 94121 AMY BELL CFO 4152304330 2025-10-16 1 1 PAMELA ALEXANDERSON P01218925 5058787200 2025-10-16 2024 2025-03-06 01:10:19Z GARY FORD 5758 GEARY BLVD 261 SAN FRANCISCO CA 94121 7968721 0 X WWW.MCESOCAP.ORG X 2005 CA MCE INVESTS CAPITAL IN ENTERPRISES COMMITTED TO GENERATING SUSTAINABLE LIVELIHOODS. 20 14 14 34 0 0 690784 746090 5025646 6642497 173818 354581 815582 225553 6705830 7968721 0 0 0 0 2788868 2654467 0 0 200011 4954824 4930748 7743692 7585215 -1037862 383506 92298717 106422180 84541007 98384478 7757710 8037702 TO GENERATE ECONOMIC OPPORTUNITIES FOR WOMEN AND FAMILIES IN UNDERSERVED COMMUNITIES THROUGHOUT THE DEVELOPING WORLD. 0 0 6504559 6868050 DURING 2024, MCE SOCIAL CAPITAL ISSUED A COMBINED $52 MILLION IN NEW LOANS TO 39 FINANCIAL SERVICE PROVIDERS AND SMALL AND GROWING BUSINESSES. AT THE END OF 2024, MCE'S TOTAL OUTSTANDING PORTFOLIO OF LOANS WAS $96 MILLION HELD BY 67 FSPS AND SGBS. THIS CAPITAL WILL BE USED TO SUPPORT THE DEVELOPMENT OF BUSINESSES AND SOCIAL ENTERPRISES IN 34 COUNTRIES AROUND THE WORLD. SINCE DISBURSING ITS FIRST LOAN IN 2006, MCE HAS FINANCED LOANS FOR 138 FSPS AND 36 SGBS IN 51 COUNTRIES. 6504559 1 1 0 0 0 1 0 0 0 0 0 0 1 0 1 1 1 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 69 0 1 14 1 0 1 NL SP 0 0 0 0 0 0 0 0 0 0 0 0 0 X 20 14 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 X X AMY BELL 4152304330 5758 GEARY BLVD 261 SAN FRANCISCO CA 94121 CAMILLA NESTOR CEO 40.00 X X 267344 0 21750 GARY FORD CHAIRMAN OF THE BOD 0.80 X X 0 0 0 AYESHA WAGLE BOARD MEMBER, TREASURER 0.50 X X 0 0 0 KAREN KEATING ANSARA BOARD MEMBER 0.70 X 0 0 0 JOHN AYLIFFE BOARD MEMBER 1.60 X 0 0 0 MARK BLAUFUSS BOARD MEMBER 0.60 X 0 0 0 LEAH BRADFORD FRANCIS BOARD MEMBER 0.70 X 0 0 0 DAN BRUNNER BOARD MEMBER 1.90 X 0 0 0 KEVIN CARNAHAN BOARD MEMBER 1.60 X 0 0 0 JIM CHU BOARD MEMBER 1.70 X 0 0 0 JIM DAVIDSON BOARD MEMBER 0.40 X 0 0 0 RAYMOND J DUNN JAY DUNN BOARD MEMBER 0.60 X 0 0 0 SAM HICKS BOARD MEMBER 1.60 X 0 0 0 DAVID LAMBERT BOARD MEMBER 0.40 X 0 0 0 ERIC MCCALLUM BOARD MEMBER 0.40 X 0 0 0 JUSTIN MORALES BOARD MEMBER 0.50 X 0 0 0 KANINI MUTOONI BOARD MEMBER 0.40 X 0 0 0 SAYURI SHARPER BOARD MEMBER 1.70 X 0 0 0 NANCY SWANSON BOARD MEMBER 0.50 X 0 0 0 WILLIAM WAY BOARD MEMBER 0.90 X 0 0 0 GENEVIEVE R LLAMZON GENERAL COUNSEL & COO, SEC 40.00 X 178812 0 15412 ELENA PONS MANAGING DIRECTOR & CIO 40.00 X 167196 0 0 CATHERINE COVINGTON MAN DIR & CHIEF BUS DEV OFFICER 40.00 X 169727 0 24241 AMY BELL MAN DIR & CFO (FROM 05/24) 40.00 X 135918 0 9537 NATASHA GOLDSTEIN INTERIM CFO (THRU 05/24) 40.00 X 0 0 0 MOLLY MERNAH CONTROLLER 40.00 X 138820 0 10369 MARIA RAURELL SENIOR DIRECTOR, INVESTMEN 40.00 X 111472 0 0 CHRISTINA LUKEMAN DIR OF BUS DEV & COMMUNICA 40.00 X 106564 0 34867 1275853 0 116176 8 0 1 0 0 746090 746090 FINANCIAL SERVICE PROVIDER LOANS 525990 6075025 6075025 SMALL GROWING BUSINESS LOANS 525990 567472 567472 6642497 354581 354581 CREDIT LOSS RECOVERIES 525990 210037 210037 UNFUNDED COMMITMENT RECOVERIES 525990 15516 15516 225553 7968721 6868050 0 354581 1029373 735702 209765 83906 1289349 1084454 146355 58540 16796 9951 4889 1956 71941 45112 19164 7665 247008 212556 24608 9844 39638 36896 2133 609 342991 342991 14333 14333 131548 85506 32887 13155 83603 61683 15674 6246 53120 34931 13427 4762 64264 41828 16088 6348 34402 23582 10820 110789 100063 7987 2739 42934 31719 9427 1788 3184019 3184019 32950 23143 8138 1669 BAD DEBT EXPENSE 640257 640257 REMEASUREMENT OF GUARAN 143355 143355 FOREIGN CURRENCY TRANSL 4709 4709 7836 5093 1959 784 7585215 6504559 880645 200011 10761442 7530157 2571228 2363636 227943 119852 61506 43657 77005937 92501652 1670661 3863226 92298717 106422180 438623 229278 8500000 6950000 73887940 90087576 1714444 1117624 84541007 98384478 X 3195621 3540406 4562089 4497296 7757710 8037702 92298717 106422180 383506 -103514 0 X 0 1 X 1 1 1 X 6841752 1660168 5988712 690784 746090 15927506 4513605 4436281 5491917 5841228 6852534 27135565 11355357 6096449 11480629 6532012 7598624 43063071 43375 599294 757096 460124 306550 2166439 0 43375 599294 757096 460124 306550 2166439 40896632 4218 3862 13837 173818 354581 550316 4218 3862 13837 173818 354581 550316 11359575 6100311 11494466 6705830 7953205 43613387 0.93770 0.94150 0.01260 0.00480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 43854 0 0 0 43854 0 1 1 0 SOCIAL INVESTMENT LOANS 92501652 C 92501652 INTEREST PAYABLE 1117624 1117624 X 4530272 -103514 651739 -4709 543516 3986756 14333 3967632 3981965 7968721 4250280 651739 651739 3598541 14333 3972341 3986674 7585215 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 (UBTI) 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, 2024 AND 2023, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CURRENCY TRANSLATION LOSS -4,709. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 3,149,310. REMEASUREMENT OF GUARANTOR CONTRIBUTIONS 143,355. LOAN WRITE-OFF 624,745. IMPUTED INTEREST EXPENSE 34,708. UNFUNDED COMMITMENT RECOVERIES 15,514. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 3,149,310. REMEASUREMENT OF GUARANTOR CONTRIBUTIONS 143,355. LOAN WRITE-OFF 640,259. IMPUTED INTEREST 34,708. CURRENCY TRANSLATION LOSS 4,709. SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 20417686 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 23310193 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 11250000 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 20492135 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 14436211 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 8 PORTFOLIO HUB OFFICE 914203 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 0 PROGRAM SERVICES MCE SOCIAL CAPITAL STICHTING - ACTIVITIES TO REDUCE POVERTY 70583 NORTH AMERICA 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 3405000 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 1 2 PORTFOLIO HUB OFFICE 112651 CENTRAL AMERICA AND THE CARIBBEAN 0 1 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 32452 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 LOANS TO FSP'S AND SGB'S LOCATED IN THE REGION 2500000 2 8 1 3 3 11 94296011 2645103 96941114 0 0 1 0 0 0 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). SCHEDULE F, PART I: PRIOR TO MAKING ANY INVESTMENT, MCE CONDUCTS INVESTMENT, LEGAL AND COMPLIANCE DUE DILIGENCE ON PARTNERS. SUCH DUE DILIGENCE INCLUDES ON-SITE VISITS, MULTI-LEVEL PROGRAM AND CREDIT ASSESSMENTS AND OFAC CHECKS. THESE INVESTMENTS ARE ALSO MONITORED POST INVESTMENT, WITH REGULAR PROGRAM AND CREDIT REVIEWS, AND UPDATED OFAC CHECKS. X X X 0 0 0 0 0 0 0 1 0 CAMILLA NESTOR CEO 242344 0 25000 0 0 0 8119 0 13631 0 289094 0 0 0 GENEVIEVE R LLAMZON GENERAL COUNSEL & COO, SEC 171812 0 7000 0 0 0 5430 0 9982 0 194224 0 0 0 CATHERINE COVINGTON MAN DIR & CHIEF BUS DEV OFFICER 162227 0 7500 0 0 0 5267 0 18974 0 193968 0 0 0 ELENA PONS MANAGING DIRECTOR & CIO 167196 0 0 0 0 0 0 0 0 0 167196 0 0 0 PART I, LINE 7 THE ORGANIZATION PAYS BONUSES TO SPECIFIC INDIVIDUALS FOR MEETING COMPANY GOALS. DF IMPACT CAPITAL 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 250000 0 1 1 BLINK CV 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 1700000 1700000 0 1 1 BLINK CV 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 1000000 1000000 0 1 1 BLINK CV 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 1600000 1600000 0 1 1 BLINK CV 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 400000 400000 0 1 1 1999 KAREN KEATING CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 250000 0 1 1 DF IMPACT CAPITAL 35% CONTROLLED ENTITY BY A CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 100000 100000 0 1 1 CAMILLA NESTOR CURRENT OFFICER PROVIDE CAPITAL FOR MICROLOANS X 100000 100000 0 1 1 GARY FORD CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 250000 250000 0 1 1 SCOTT SATTERWHITE SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 1000000 1000000 0 1 1 FIDELITY CHARITABLE SUBSTANTIAL CONTRIBUTOR PROVIDE CAPITAL FOR MICROLOANS X 100000 100000 0 1 1 ERIC MCCALLUM TRUST CURRENT DIRECTOR PROVIDE CAPITAL FOR MICROLOANS X 200000 200000 0 1 1 6950000 FORM 990, PART VI, SECTION A, LINE 2 GARY FORD (DIRECTOR), JIM DAVIDSON (DIRECTOR), JIM CHU (DIRECTOR) AND SAYURI SHARPER (DIRECTOR) ALL HAVE BUSINESS RELATIONSHIPS WITH EACH OTHER. 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 INCLUDES, BUT IS NOT LIMITED TO, MEMBERS OF THE BOARD. 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 MARKET COMPARABILITY DATA, 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. MCE EMPOWERING SUSTAINABLE AGRICULTURE FUND LLC 5758 GEARY BLVD STE 261 SAN FRANCISCO CA 94121 883971937 LOCAL COMMUNITY INVESTING CA 1368477 38568484 MCE SOCIAL CAPITAL MCE SOCIAL CAPITAL STICHTING KEIZERSGRACHT 391 A 1016 EJ AMSTERDAM NL REDUCE POVERTY NL MCE SOCIAL CAPITAL 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0