Deutsche Bank Microcredit Development Fund Inc
- Assets
- $3.7m
- Revenue
- $12.5k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 10/1997
- Data as of
- 12/2019
- EIN
- 13-3957277
Organization Overview
Deutsche Bank Microcredit Development Fund Inc is located in New York, NY. The organization was established in 1997. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. Deutsche Bank Microcredit Development Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2019, Deutsche Bank Microcredit Development Fund Inc generated $12.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (40.1%) each year. All expenses for the organization totaled $412.5k during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE DEUTSCHE BANK MICROCREDIT DEVELOPMENT FUND, INC. WAS CREATED TO SUPPORT THE GROWTH, EFFECTIVENESS, AND SUSTAINABILITY OF MICROCREDIT PROGRAMS THAT SERVE THE POOR WITH ACCESS TO CREDIT FOR SELF-EMPLOYMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROMOTES ECONOMIC DEVELOPMENT IN UNDERSERVED COMMUNITIES BY FINANCING MICROFINANCE INSTITUTIONS IN DEVELOPING ECONOMIES AND SUPPORTING OTHER MISSION-ALIGNED ORGANIZATIONS VIA GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Reardon Chairman | OfficerTrustee | 1 | $0 |
Gary S Hattem President | OfficerTrustee | 1 | $0 |
Maureen D Donovan Director | Trustee | 1 | $0 |
Michael Rauenhorst Director | Trustee | 1 | $0 |
Caroline Vance Director | Trustee | 1 | $0 |
Ben Midberry Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $12,542 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,542 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $150,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,480 |
| Fees for services: Accounting | $28,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,450 |
| Advertising and promotion | $0 |
| Office expenses | $2,490 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,372 |
| All other expenses | $0 |
| Total functional expenses | $412,479 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,693,511 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $856 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,694,367 |
| Accounts payable and accrued expenses | $3,500 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,500 |
| Net assets without donor restrictions | $3,690,867 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,694,367 |
Grants Awarded
Over the last fiscal year, Deutsche Bank Microcredit Development Fund Inc has awarded $200,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC | | $50,000 |
San Francisco, CA | | $50,000 |
Washington, DC | | $50,000 |
Bethesda, MD | | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
C I S Development Foundation Inc East Brunswick, NJ | $9,322,702 | $62,866,043 |
Polish-American Freedom Foundation New York, NY | $332,912,578 | $20,651,430 |
Omidyar-Tufts Microfinance Fund Somerville, MA | $114,828,830 | -$1,213,909 |
Dress For Success Worldwide New York, NY | $9,765,263 | $14,118,582 |
Endeavor Global Inc New York, NY | $17,758,887 | $22,239,624 |
Mennonite Economic Development Associates Lancaster, PA | $26,265,593 | $14,802,817 |
Financial Services Volunteer Corps Inc New York, NY | $4,338,276 | $8,058,219 |
Romanian American Foundation New York, NY | $151,764,693 | $36,392,050 |
Nest Inc New York, NY | $5,296,909 | $4,810,117 |
Cerge-Ei Foundation New York, NY | $13,211,124 | $3,287,220 |
Junior Achievement Of New York New York, NY | $4,177,610 | $3,603,746 |
Junior Achievement Usa Bridgeville, PA | $5,474,447 | $2,637,956 |