Accion International

“The audit, executive or finance committee have been delegated authority to act on behalf of the board of directors in accordance with their committee charters and subject to subsequent ratification by the board of directors.”

“In june 2023, the organization amended its amended and restated by-laws to provide for equivalent term limits for all board members regardless of role, allow for additional service by an individual board member if the board determines it is in the organization's best interests, permit the appointment or election of one or more vice chairs as an officer of the organization, and provide for uniform voting thresholds.”

“The board has delegated approval power of the 990 to the executive and finance committees. Once approved by one of those committees, each member of the board of directors receives a copy of the form 990 for their review before accion files it with the internal revenue service.”

“Accion international's conflict of interest policy requires annual disclosure of actual or potential conflicts of interest, including all transactions, financial interests, contracts, or positions, conducted or held by the officer, director, or key employee or immediate member of his/her family, with any businesses, corporations, partnerships, proprietorships that carry out any business activities with accion international or any of its subsidiaries, investees, affiliates or other persons or institutions in any related to accion international. In addition to the annual disclosure requirement, officers, directors, and key employees must also disclose any potential or real conflict of interest as they arise. Each real or potential conflict must be evaluated by independent, disinterested directors serving on the audit & governance committee of the board of directors, and if a real or potential conflict of interest is determined to exist, that conflict situation must be determined to be fair and reasonable to the corporation and thus waived before the affected officer, director, or key employee may proceed.”

“Compensation for officers, including the ceo, and key employees must be approved by the appropriate committee of the board of directors after consideration of data provided by third party experts which indicates comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. The board committee will maintain contemporaneous documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangements.”

“Accion international's audited financial statements are available on its website and its governing documents and director conflict of interest and transactions with disqualified persons policy are available to the public upon request.”

“We are a leading early-stage investor in fintech for inclusion and experts in the digital transformation of financial service providers, with decades of experience harnessing the capital markets to enable underserved people to improve their lives.”

“Global programs: today, nearly two billion people are left out of or poorly served by the world's formal financial sector and lack the financial solutions they need to end poverty in their communities. Accion is a global nonprofit committed to creating a fair and inclusive economy, helping families and businesses reach their economic potential and build better lives. Our global programs include accion advisory, which partners with financial service providers around the world to better meet the needs of underserved individuals and small businesses. Accion advisory leverages accion's global insights and provides strategic and operational support for digital transformation, growth strategy and planning, customer engagement, and other core services that maximize impact for clients. In 2023, the advisory team continued to work with partners to develop new digital solutions and platforms that help underserved clients to participate in and benefit from the digital economy.”

“Investment strategies: by providing equity capital to inclusive fintech startups, microfinance institutions, and other financial service providers, as well as providing governance and expertise through board oversight, and advising on strategic and operational challenges, we help create well-run, mission-driven, and efficient organizations that serve as demonstration models and encourage others to work toward a fair and inclusive economy. In 2023, accion continued to support its partners to digitize and scale operations so they can serve vulnerable clients in a rapidly digitizing world.”

“Center for financial inclusion: launched in 2008, the center for financial inclusion (cfi) is an independent global think tank housed at accion that uses rigorous research and advocacy to advance inclusive financial systems for low-income people around the world. It leverages partnerships to conduct research, test promising solutions, and then advocate for evidence-based change. Cfi conducts research related to its four strategic priorities: consumer protection, data risks and opportunities, women's financial inclusion, and financial services to mitigate and adapt to climate change. Cfi hosts financial inclusion week, an annual virtual event that in 2023 convened 2,800 policy experts, financial service providers, analysts, and industry leaders to discuss the most pressing topics in the inclusive finance sector. In 2023, cfi convened the responsible finance forum (rff) in bengaluru, india, bringing together global stakeholders to share ideas, research, and solutions on emerging consumer risks in inclusive finance.”

“Education and communication: accion's communications focus on the transformative power of financial inclusion to accelerate social and economic progress for underserved communities around the world. In 2023, accion showcased the importance of digital financial solutions for entrepreneurs and innovation through client-focused storytelling, along with papers, toolkits, and case studies promoting ways of better meeting the needs of the world's nearly two billion underserved people.”

“Closing of Bancosol & China Hub $ (62,591,770)”

“MISC ADJUSTMENT $ (459)”