Kiva Microfunds
- Assets
- $238.8m
- Revenue
- $34.7m
- Investments
- $0.0
- Employees
- 0
- Location
- San Francisco, CA
- Founding
- 07/2006
- Data as of
- 06/2023
- EIN
- 71-0992446
Organization Overview
Kiva Microfunds is located in San Francisco, CA. The organization was established in 2006. According to its NTEE Classification (Q20) the organization is classified as: Promotion of International Understanding, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kiva Microfunds 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 06/2023, Kiva Microfunds generated $34.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $37.6m during the year ending 06/2023. While expenses have increased by 12.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
KIVA IS A NON-PROFIT ORGANIZATION WITH A MISSION TO EXPAND FINANCIAL ACCESS TO HELP UNDERSERVED COMMUNITIES THRIVE BY PROVIDING AN ONLINE PLATFORM THAT FACILITATES MICROLOANS GLOBALLY; BEING A DEVELOPER OF A BLOCKCHAIN BASED DIGITAL ID PLATFORM TO PROMOTE FINANCIAL INCLUSION; BEING A MANAGER OF IMPACT INVESTMENT FUNDS (AS AN EXEMPT REPORTING ADVISER).
Describe the Organization's Program Activity:
Part 3 - Line 4a
KIVA PARTNERS WITH OVER 295 GLOBAL MICROFINANCE INSTITUTIONS ("MFIS") AND OTHER SOCIALLY MINDED ORGANIZATIONS AND ENTERPRISES IN NINETY FOUR (94) COUNTRIES ACROSS THE GLOBE. THIS NETWORK OF PARTNERSHIPS ENABLES KIVA TO CONNECT WITH BORROWERS SEEKING MICRO-LOANS. KIVA'S PARTNER ORGANIZATIONS ARE RESPONSIBLE FOR SELECTING AND VETTING THE BORROWERS AND ADMINISTRATING THE LOANS. KIVA'S ONLINE PLATFORM CONNECTS THESE BORROWERS WITH OVER 1.7 MILLION INDIVIDUALS TO DATE WHO WANT TO CONTRIBUTE LOAN FUNDS VIA THE INTERNET.IN 2012, KIVA INITIATED MORE CONCERTED WORK ON A PILOT PROGRAM (FORMERLY "KIVA ZIP" NOW RENAMED "KIVA US"), DESIGNED TO TEST THE FEASIBILITY OF FACILITATING MICROFINANCE LOANS FROM KIVA USERS MOREDIRECTLY TO KIVA BORROWERS VIA A SEPARATE WEBSITE URL (ZIP.KIVA.ORG). IN 2016, THE KIVA US WEBSITE WAS INTEGRATED INTO THE MAIN KIVA.ORG WEBSITE.KIVA CREATED KIVA- DAF, LLC ("KDAF") IN 2013 TO HOLD DONOR ADVISED FUND ACCOUNTS, KIVA IMPACT FUNDS LLC ("KIF") IN 2016 TO FACILITATE MICROLOANS MADE WITH CAPITAL FROM OPIC.KIVA CAPITAL MANAGEMENT WAS CREATED IN 2019 TO BE A MANAGER OF IMPACT INVESTMENT FUNDS (AS AN EXEMPT REPORTING ADVISOR), SUCH AS KIVA REFUGEE INVESTMENT FUND LLC.CALIFORNIA REBUILDING FUND LLC (CASE B-SPV LLC, CASE G-SPV) AND SMALL BUSINESS RESILIENCE FUND LLC WERE INITIATED IN 2020 TO PROVIDE SUPPORT TO SMALL BUSINESSES IMPACTED BY COVID-19 IN CALIFORNIA AND INTERNATIONAL LOCATIONS.JURNUS LLC WAS CREATED IN LATE 2020 TO HOUSE OUR BLOCKCHAIN-RELATED WORK WITH DIEM IN SUPPORT OF GLOBAL FINANCIAL INCLUSION.
KIVA PARTNERS WITH OVER 295 GLOBAL MICROFINANCE INSTITUTIONS ("MFIS") AND OTHER SOCIALLY MINDED ORGANIZATIONS AND ENTERPRISES IN NINETY FOUR (94) COUNTRIES ACROSS THE GLOBE. THIS NETWORK OF PARTNERSHIPS ENABLES KIVA TO CONNECT WITH BORROWERS SEEKING MICRO-LOANS. KIVA'S PARTNER ORGANIZATIONS ARE RESPONSIBLE FOR SELECTING AND VETTING THE BORROWERS AND ADMINISTRATING THE LOANS. KIVA'S ONLINE PLATFORM CONNECTS THESE BORROWERS WITH OVER 1.7 MILLION INDIVIDUALS TO DATE WHO WANT TO CONTRIBUTE LOAN FUNDS VIA THE INTERNET.IN 2012, KIVA INITIATED MORE CONCERTED WORK ON A PILOT PROGRAM (FORMERLY "KIVA ZIP" NOW RENAMED "KIVA US"), DESIGNED TO TEST THE FEASIBILITY OF FACILITATING MICROFINANCE LOANS FROM KIVA USERS MOREDIRECTLY TO KIVA BORROWERS VIA A SEPARATE WEBSITE URL (ZIP.KIVA.ORG). IN 2016, THE KIVA US WEBSITE WAS INTEGRATED INTO THE MAIN KIVA.ORG WEBSITE.KIVA CREATED KIVA- DAF, LLC ("KDAF") IN 2013 TO HOLD DONOR ADVISED FUND ACCOUNTS, KIVA IMPACT FUNDS LLC ("KIF") IN 2016 TO FACILITATE MICROLOANS MADE WITH CAPITAL FROM OPIC.KIVA CAPITAL MANAGEMENT WAS CREATED IN 2019 TO BE A MANAGER OF IMPACT INVESTMENT FUNDS (AS AN EXEMPT REPORTING ADVISOR), SUCH AS KIVA REFUGEE INVESTMENT FUND LLC.CALIFORNIA REBUILDING FUND LLC (CASE B-SPV LLC, CASE G-SPV) AND SMALL BUSINESS RESILIENCE FUND LLC WERE INITIATED IN 2020 TO PROVIDE SUPPORT TO SMALL BUSINESSES IMPACTED BY COVID-19 IN CALIFORNIA AND INTERNATIONAL LOCATIONS.JURNUS LLC WAS CREATED IN LATE 2020 TO HOUSE OUR BLOCKCHAIN-RELATED WORK WITH DIEM IN SUPPORT OF GLOBAL FINANCIAL INCLUSION.
KIVA PARTNERS WITH 223 ACTIVE GLOBAL MICROFINANCE INSTITUTIONS ("MFIS") AND OTHER SOCIALLY MINDED ORGANIZATIONS AND ENTERPRISES IN SEVENTY-THREE (73) COUNTRIES. THIS NETWORK OF PARTNERSHIPS ENABLES KIVA TO CONNECT WITH BORROWERS SEEKING MICRO-LOANS. KIVA'S PARTNER ORGANIZATIONS ARE RESPONSIBLE FOR SELECTING AND VETTING THE BORROWERS AND ADMINISTRATING THE LOANS. KIVA'S ONLINE PLATFORM CONNECTS THESE BORROWERS WITH OVER 2.1 MILLION INDIVIDUALS TO DATE WHO WANT TO CONTRIBUTE LOAN FUNDS VIA THE INTERNET.KIVA ALSO FACILITATES DIRECT LOANS TO INDIVIDUALS IN THE UNITED STATES.KIVA CREATED KIVA- DAF, LLC ("KDAF") IN 2013 TO HOLD DONOR ADVISED FUND ACCOUNTS, KIVA IMPACT FUNDS LLC ("KIF") IN 2016 TO FACILITATE MICROLOANS MADE WITH CAPITAL FROM OPIC.KIVA CAPITAL MANAGEMENT WAS CREATED IN 2019 TO BE A MANAGER OF IMPACT INVESTMENT FUNDS (AS AN EXEMPT REPORTING ADVISOR), SUCH AS KIVA REFUGEE INVESTMENT FUND LLC.CALIFORNIA REBUILDING FUND LLC (CASE B-SPV LLC, CASE G-SPV) AND SMALL BUSINESS RESILIENCE FUND LLC WERE INITIATED IN 2020 TO PROVIDE SUPPORT TO SMALL BUSINESSES IMPACTED BY COVID-19 IN CALIFORNIA AND INTERNATIONAL LOCATIONS.JURNUS LLC WAS CREATED IN LATE 2020 TO HOUSE OUR BLOCKCHAIN-RELATED WORK WITH DIEM IN SUPPORT OF GLOBAL FINANCIAL INCLUSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Hanna Farris Director | Trustee | 10 | $0 |
Reid Hoffman Director | Trustee | 1 | $0 |
John Muller Director | Trustee | 1 | $0 |
Maya Chorengel Director | Trustee | 1 | $0 |
Andre Haddad Director | Trustee | 1 | $0 |
Silvija Martincevic Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bayport Networks It Support | 6/29/23 | $485,652 |
South Geeks Llc Engineering Support | 6/29/23 | $404,996 |
Raybeam Inc Engineering Support | 6/29/23 | $297,000 |
Sin-mei Tsai Engineering Support | 6/29/23 | $330,096 |
Nelson Connects Staffing/hr Support | 6/29/23 | $277,070 |
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 | $28,358,806 |
| Noncash contributions included in lines 1a–1f | $25,386 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,358,806 |
| Total Program Service Revenue | $1,112,794 |
| Investment income | $4,083,220 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$16,600 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,727,565 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,899,440 |
| Compensation of current officers, directors, key employees. | $333,556 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,364,462 |
| Pension plan accruals and contributions | $290,739 |
| Other employee benefits | $1,842,300 |
| Payroll taxes | $1,493,554 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $152,484 |
| Fees for services: Accounting | $352,285 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $694,741 |
| Advertising and promotion | $862,519 |
| Office expenses | $109,696 |
| Information technology | $2,466,708 |
| Royalties | $0 |
| Occupancy | $828,928 |
| Travel | $460,492 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $909,675 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,918,062 |
| Insurance | $294,834 |
| All other expenses | $375,986 |
| Total functional expenses | $37,635,582 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,615,916 |
| Savings and temporary cash investments | $65,142,979 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $101,995,569 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $56,050,985 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $487,326 |
| Net Land, buildings, and equipment | $4,378,598 |
| Investments—publicly traded securities | $703,928 |
| Investments—other securities | $0 |
| Investments—program-related | $346,278 |
| Intangible assets | $25,000 |
| Other assets | $1,094,778 |
| Total assets | $238,841,357 |
| Accounts payable and accrued expenses | $4,006,963 |
| Grants payable | $0 |
| Deferred revenue | $277,277 |
| 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 | $167,780,699 |
| Other liabilities | $36,033,961 |
| Total liabilities | $208,098,900 |
| Net assets without donor restrictions | $15,681,973 |
| Net assets with donor restrictions | $15,060,484 |
| 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 | $238,841,357 |
Grants Awarded
Over the last fiscal year, Kiva Microfunds has awarded $38,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ACCION SAN DIEGO PURPOSE: MICROFINANCE PROGRAM. | $500 |
LIFTFUND PURPOSE: MICROFINANCE PROGRAM. | $350 |
SOLAR AND ENERGY LOAN FUND (SELF) PURPOSE: MICROFINANCE PROGRAM. | $37,150 |