Accion International

“The executive and/or finance 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.”

“Global programs: three billion people are left out of or poorly served by the world's formal financial sector, lacking the financial tools they need to manage their day-to-day lives. The global pandemic has made it even harder for them to grow their businesses, provide for their families, and avoid financial disaster. Accion is a global nonprofit committed to creating a financially inclusive world. Accion uses digital technology to help families and small businesses access the financial tools they need to reach their economic potential and build better lives. Our global programs include the accion global advisory solutions team, which partners with financial service providers around the world to better meet the needs of underserved individuals and small businesses. The advisory team leverages accion's global insights and provides strategic and operational support in growth strategy and planning, customer strategy, digital channels, and other core processes that maximize the impact on and for clients. In 2020, as digital tools became essential to the survival of businesses and their financial service providers during the pandemic, the advisory team worked with its partners to rapidly develop new digital products and platforms that help underserved clients start participating in and benefitting from the digital economy.”

“Global investments: accion invests in the products and services that benefit the world's three billion financially underserved people, catalyzing and scaling innovation to address global need. By supporting inclusive fintech startups, microfinance institutions, and other financial service providers, providing them with high-caliber governance through board oversight, and/or advising on strategic and operational challenges, we create well-run, mission-driven, and efficient organizations that create demonstration models and encourage others to work toward a financially inclusive world. Accion's seed-stage impact initiative, accion 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. In 2020, accion helped its partners around the world rapidly digitize their operations to stay in touch with clients coping with lockdowns and social distancing, and supported digital innovations that can help vulnerable clients build their financial resilience.”

“Center for financial inclusion: launched in 2008, the center for financial inclusion at accion (cfi) is an independent think tank 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. In 2020, cfi conducted a survey across four countries to better understand the effects of the pandemic on small businesses around the world. Cfi also conducted research to assess how policymakers are responding to covid-19 and created case studies on investors' responses to previous crises to draw out applicable lessons. In 2020, cfi hosted its annual financial inclusion week, which convened policy experts, analysts, and industry leaders in discussion on responding to the global pandemic to support vulnerable populations. Participants also discussed issues related to cfi's new strategy, which focuses on climate change, women's economic empowerment, consumer protection, and data risks and opportunities.”

“Education and communication: accion's communications articulate the need to create a financial sector that works for everyone, illustrate the human needs that financial services address, and show how financial inclusion accelerates both social and economic progress. In 2020, through a series of new videos and digital content, accion shared stories of resilience that showed how entrepreneurs adapted and survived amid the extreme challenges of the pandemic. Accion also worked with partners to launch the second year of the inclusive fintech 50 competition, which elevates promising early-stage fintechs driving financial inclusion and resilience around the globe. In 2020, the initiative attracted eligible applications from more than 400 early-stage fintechs. Through an independent judging panel and selection process, the initiative boosts the visibility of these startups among investors and partners who can help them scale to reach more of the world's three billion financially underserved people.”

“Equity in income of equity investments $ 16,459,589 return of capital from closed foreign subsidiary $ (82,003) misc adjustment $ (945) total other changes in net assets or fund balances $ 16,376,641”