Mojaloop Foundation Inc

Organization Overview

Mojaloop Foundation Inc is located in Wakefield, MA. According to its NTEE Classification (Q33) the organization is classified as: International Relief, 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. Mojaloop Foundation 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 12/2023, Mojaloop Foundation Inc generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 35.5% each year . All expenses for the organization totaled $3.3m during the year ending 12/2023. While expenses have increased by 41.0% per year over the past 4 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

OUR MISSION IS TO INCREASE FINANCIAL INCLUSION BY EMPOWERING ORGANIZATIONS CREATING INTEROPERABLE PAYMENTS SYSTEMS TO ENABLE DIGITAL FINANCIAL SERVICES FOR ALL.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION MAINTAINS THE FREE, OPEN SOURCE SOFTWARE, MOJALOOP, AND ITS COMMUNITY AS PUBLIC GOODS IN SERVICE OF FINANCIAL INCLUSION. MERCHANTS, CENTRAL BANKS, SERVICE PROVIDERS, GOVERNMENT OFFICES, AND OTHER ENTITIES LOOKING TO BUILD INCLUSIVE PAYMENTS PLATFORMS CAN USE MOJALOOP--WHOLE, ADAPTED, OR AS A REAL-TIME PAYMENTS REFERENCE MODEL. MEMBERSHIP IS OPEN TO MISSION-DRIVEN, NON-GOVERNMENTAL AND TECHNOLOGY ENTITIES FOCUSED ON ADVANCING FINANCIAL INCLUSION. TRAINING, EVENTS, AND OTHER EDUCATIONAL ACTIVITIES ARE PROVIDED TO THE COMMUNITY, AND PARTICIPATION IN THE COMMUNITY IS OPEN AND FREE TO ALL.


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Board, Officers & Key Employees

Name (title)Compensation
Konstantin Peric
Chair
$0
Robert Ron
Treasurer
$0
Adama Diallo
Director
$0
Ken Weber
Director
$0
Miller Abel
Director
$0
Matseliso Thabane
Director (thru 05/2023)
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Virtual Inc
Management Services
$742,128
Steve Haley
Director Market Development And Partners
$231,250
Trouver Ltd
Product Manager
$152,000
Strange Lands Ltd
Software Engineering Consultancy
$166,193
Crosslake Technologies
It Infrastructure
$151,694
View All Vendors

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$4,713,288
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$4,713,288
Total Program Service Revenue$705,833
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 $5,419,121

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