Media Development Investment Fund Inc

“The form 990 has been provided to the audit committee of the board of directors for approval prior to filing. Once approved, a copy of the form 990 was provided to the full board. The form 990 was prepared by an independent accountant and reviewed in detail by the fund's ceo, cfo, and general counsel.”

“Each officer, director, and key employee of mdif is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with mdif. Mdif monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately.”

“Media development investment fund's board of directors has authorized the compensation committee to conduct a review of the chief executive officer's performance and determine his compensation package. The committee is comprised of independent directors (the chair and the vice-chair) who establish the ceo's compensation commensurate with the salaries paid by similar organizations in both the not-for-profit and impact investing sectors. The committee then reports its findings to the full board of directors and recommends a compensation package. The full board reviews the committee's recommendations and approves the final compensation package. Form 990, part vi, line 15b: the board of directors has fully delegated the authority to review performance and set the compensation of mdif's other officers to the chief executive officer. In making the determination, the ceo employs the same comparability metrics as the compensation committee utilizes (as outlined in part vi, section b, line 15a narrative).”

“The organization's governing documents, conflict of interest policy, and financial statements are available at the public request and at management's discretion.”

“Media development investment fund, inc. (mdif) invests in independent media around the world providing the news, information and debate that people need to build free, thriving societies.”

“We invest in media that provide the news, information and debate that people need to build free, thriving societies. Mdif has invested more than $325 million in 154 independent news businesses in 49 countries since 1996. Why we are here: timely, accurate, relevant information is critical to free societies. It enables fuller participation in public life, holds the powerful to account and protects the rights of the individual. How we choose clients and areas of operations: mdif invests in independent media companies in a range of countries where access to free and independent media is under threat. Clients are selected based on three broad criteria: mission impact in relation to investment; potential for long-term viability; editorial integrity. How we work: mdif financial investments include affordable loans, equity investments, loan guarantees and technical assistance grants. Mdif mobilizes other investors to maximize the impact of its financing. Mdif seeks to establish long-term relationships with its clients, which may involve advice and assistance in business planning, media management and other technical support. Providing access to capital: mdif clients are starved of capital because they work in environments with poorly developed banking systems, distorted markets and unfavorable investment climates. Often, they work in transition economies or under governments that are hostile to the idea of free and independent media. In all cases, a lack of funds is the main obstacle to their growth and development and seriously hampers their ability to be commercially viable and self-sustaining. The changing landscape of media and investment in the last decade: a technological revolution has transformed the media business and the way people access news and information across the world. Digital news ventures (dnv), a subsidiary of mdif, is invested in experimental digital products and businesses that contribute to the provision of information in the public interest.”

“In determining whether to make a pri, mdif faces both country and legal risks. Mdif makes pris in countries where political and economic stability may be of concern. This type of risk is assessed before the organization starts operations in a certain country. The legal risk may arise as a result of making loans and other program related investments in countries with differing legal systems than those of the united states of america. Those systems are sometimes characterized by uncertainty and a lack of independent legal institutions, including the judiciary.”

“The organization uses a professional employment organization to report payroll. The w-2s are reported under trinet inc., and under their ein # 48-1304650.”

“Equity in net gains of investees -2,906,030.”

“The process has not changed from the prior year.”