Accion International

“The executive committee has been delegated authority to act on behalf of the board of directors subject to subsequent ratification by the board of directors.”

“Prior to the filing of the form 990, the finance committee of the board of directors receives the form 990 for review. Each member of the board of directors subsequently receives a copy of the reviewed form 990 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, governing documents, and conflict of interest policy are available to the public upon request.”

“Accion makes impact investments, advises on strategic and technical challenges, and influences the broader industry to create a financially inclusive world. Our work aims to provide every individual with access to high-quality, affordable financial services to help them reach their economic potential. FORM 990, PART III, LINE 4A: Global Programs: Three billion people are left out of or poorly served by the worlds formal financial sector. They struggle in or near poverty and lack the financial tools they need to build better lives. Accion combines decades of expertise and insights into new technologies to empower small businesses and people around the world with the financial services they need to build better lives. Accions global programs include providing funding as well as strategic and operational advisory services to microfinance institutions (MFIs) and financial service providers to increase the quality and lower the costs of financial services. Through 2017, Accion has helped tens of millions of people through our work with more than 90 partners in 40 countries. Our MFI portfolio partners directly managed a $4.5 billion active loan portfolio and helped 3.5 million savers protect nearly $2 billion in deposits in 2017. Accions advisory services help financial service providers use new technology and leverage data more efficiently to reach and serve more clients with valuable, customer-centric products. By leveraging our global insights in growth strategy and planning, customer strategy, digital channels, and other core processes, we help financial service providers make structural changes and ultimately provide better, more affordable financial services to the underserved.”

“Global Investments: With three billion people underserved by the worlds formal financial sector, technology represents one of the most effective solutions for providing underserved communities with better, faster, cheaper, and safer financial services. Accion believes that, by investing in and supporting inclusive fintech, we can harness technologys transformative potential to create a financially inclusive world and create a financial system that works for everyone. Accions seed-stage impact initiative, Accion Venture Lab, is the worlds leading seed-stage investor in fintech for the underserved. Venture Lab invests capital in, and provides support to, innovative fintech startups that increase access to, improve the quality of, or reduce the cost of financial services for the underserved at scale. Through the end of 2017, Venture Lab had deployed over US$10 million across more than 30 startups that work in over 20 countries worldwide. Venture Lab has undertaken dozens of portfolio engagement projects, leveraging the teams strategic and operational expertise to help developing companies address customer strategy, product design, pricing, operations, and human capital. Accion also serves as General Partner to the first global fintech fund for the underserved. As General Partner, Accion supported the fund through our deep understanding of the financial needs of the underserved, global presence, strong institutional relationships in the funds target markets, and technical specialists in its target sectors.”

“Center for Financial Inclusion: Launched in 2008, the Center for Financial Inclusion at Accion (CFI) challenges the industry to better serve, protect, and empower clients. It develops insights, advocates on behalf of clients, and collaborates with stakeholders to achieve a comprehensive vision for financial inclusion. In 2009 CFI launched the Smart Campaign, the worlds first financial consumer protection standard for the poor, which creates an environment in which financial services are delivered safely and responsibly to low-income clients. By the end of 2017, nearly 100 financial institutions, collectively serving more than 41 million people in more than 30 countries, had been certified for adhering to the Campaigns industry-accepted consumer protection standards. Other key CFI programs include a fellowship program in governance and risk management designed for board members of financial service providers in sub-Saharan Africa, as well as research on: how new technological innovations can help provide inclusive insurance to the worlds most vulnerable people; the most productive ways for financial technology startups to partner with larger financial service providers; the most effective ways to blend technology with human 'touch points' to catalyze inclusive finance, deliver value to clients, and promote customer acquisition and retention.”

“Education and Communication: Accions communications articulates the need to create a financial sector that works for everyone, the human needs that financial services address, and how financial inclusion accelerates both social and economic progress. Accions thought leadership and emphasis on client-centric products and services pushes peer organizations to consider how they can provide underserved families and small businesses with the tools they need to realize their economic potential: Accion shared new research detailing how financial service providers can use digitized data to improve their lending decisions, cut back-office expenses, and provide more underserved customers with the financing that they need. Audiences around the world have invited Accion to discuss our work and the developing technological trends that we see accelerating inclusive finance. Accion raised awareness of the need for financial inclusion at conferences and events covering technology, financial technology, and regional issues. Accion worked with partners to host the CEO Forum and Fintech for Inclusion Global Summit 2017, which brought together more than 240 leaders from the fintech and impact investing communities to discuss how to accelerate innovations in inclusive finance. Accion also engages a passionate audience across social media, sharing stories that demonstrate the impact that our work makes on our clients and that ways that high-quality, affordable financial services help them thrive.”

“Equity in income of equity investments $9,074,358 Currency gain (loss) on consolidation (14,825) Total Other Changes in net Assets or Fund Balances $9,059,533”