Civic Intelligence

Microfinance Information Exchange Inc

990 • Fiscal year 2017 • EIN 36-4502299

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 19, 2018

2020 PENNSYLVANIA AVENUE NW No 353Washington, DC 20006

(202) 659-9094

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

55th percentile

0.13x

Higher debt load relative to assets than 55% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

47th percentile

0.08x

Higher debt load relative to revenue than 47% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

42nd percentile

0.6%

Higher net margin than 42% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

5th percentile

-23%

Faster asset growth than 5% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2017

Revenue Growth

27th percentile

-4.7%

Faster revenue growth than 27% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2017

Assets

Down

$2,030,968

Down $760,989 (-27%) from 2016

Net Assets

Up

$1,764,233

Up $196,405 (+13%) from 2016

Liabilities

Down

$266,735

Down $957,394 (-78%) from 2016

Revenue

Down

$3,226,422

Down $153,023 (-4.5%) from 2016

Expenses

Down

$3,205,982

Down $670,942 (-17%) from 2016

Net Income

Up

$20,440

Up $517,919 (+104%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2012: $4,887,195Liabilities 2012: $527,412Net Assets 2012: $4,359,7832012Assets 2013: $4,424,815Liabilities 2013: $1,697,747Net Assets 2013: $2,727,0682013Assets 2014: $4,537,766Liabilities 2014: $1,530,709Net Assets 2014: $3,007,0572014Assets 2015: $3,396,438Liabilities 2015: $1,331,131Net Assets 2015: $2,065,3072015Assets 2016: $2,791,957Liabilities 2016: $1,224,129Net Assets 2016: $1,567,8282016Assets 2017: $2,030,968Liabilities 2017: $266,735Net Assets 2017: $1,764,2332017Assets 2018: $1,646,719Liabilities 2018: $174,652Net Assets 2018: $1,472,0672018Assets 2019: $1,254,704Liabilities 2019: $247,422Net Assets 2019: $1,007,2822019Assets 2020: $322,544Liabilities 2020: $136,526Net Assets 2020: $186,0182020

Highlighted filing

2017

Assets$2,030,968
Liabilities$266,735
Net Assets$1,764,233

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2012: $4,561,1732012Expenses 2013: $4,586,9052013Revenue 2014: $5,181,933Expenses 2014: $4,901,944Net Income 2014: $279,9892014Revenue 2015: $3,550,220Expenses 2015: $4,491,970Net Income 2015: -$941,7502015Revenue 2016: $3,379,445Expenses 2016: $3,876,924Net Income 2016: -$497,4792016Revenue 2017: $3,226,422Expenses 2017: $3,205,982Net Income 2017: $20,4402017Revenue 2018: $2,219,265Expenses 2018: $2,511,431Net Income 2018: -$292,1662018Revenue 2019: $1,967,603Expenses 2019: $2,432,388Net Income 2019: -$464,7852019Revenue 2020: $2,010,948Expenses 2020: $2,050,225Net Income 2020: -$39,2772020

Highlighted filing

2017

Revenue$3,226,422
Expenses$3,205,982
Net Income$20,440
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 19, 2018
Return Version
2016v3.0
Gross Receipts
$3,226,422
Mission and Program Overview

Mission

To help build the microfinance market infrastructure by offering data sourcing, benchmarking, and monitoring tools, as well as specialized information services on and for the various institutional actors who make up the microfinance industry.

To help build the microfinance market infrastructure by offering data sourcing, benchmarking, and monitoring tools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,206,623$733,544▼ $473,079
Savings and Temporary Cash Investments$557,465$509,133▼ $48,332
Pledges and Grants Receivable$488,092$421,244▼ $66,848
Land, Buildings, and Equipment, Net$422,609$271,086▼ $151,523
Accounts Receivable$85,264$64,710▼ $20,554
Prepaid Expenses and Deferred Charges$31,904$31,251▼ $653
Total Assets$2,791,957$2,030,968▼ $760,989
Liabilities
Deferred Revenue$1,033,217$160,621▼ $872,596
Accounts Payable and Accrued Expenses$190,912$106,114▼ $84,798
Total Liabilities$1,224,129$266,735▼ $957,394
Net Assets / Fund Balance
Unrestricted Net Assets$897,536$1,029,994▲ $132,458
Temporarily Rstr Net Assets$670,292$734,239▲ $63,947
Total Net Assets Fund Balance$1,567,828$1,764,233▲ $196,405
Total Liabilities and Net Assets / Fund Balance$2,791,957$2,030,968▼ $760,989

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$252,260$3,944,489$4,196,749
Equipment$18,826$119,876$138,702
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeffrey BinstockChief Executive OfficerFT$178,006$14,453$192,459
Blaine StephensChief Operations OfficerFT$150,737$19,127$169,864
Krishna YendluriCIO & EVP Fin Planning (Thru 3/7/17)FT$151,789$16,552$168,341
Jumoke AdekanmiProgram DirectorFT$132,150$7,569$139,719
Rajagopal AllamTechnical ManagerFT$127,711$6,609$134,320
Christine PieperDirector of Dev & Org EffectivenessFT$125,068$5,278$130,346
Lara Storm SwireFinancial Inclusion DirectorFT$107,666$5,383$113,049

Board Members and Trustees

NameTitle
Bill Grantdirector
Hal Sterndirector
Jane EddyDirector
Martin Holtmanndirector
Mireya Almazandirector
Bob AnnibaleDirector (Thru 12/31/17)
Linda BirbaraDirector (Thru 12/31/17)
Mayada El-ZoghbiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,328,737
Program Service Revenue
$1,897,685
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,328,737
Change in Net Assets
$20,440

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,226,422
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$102,207
Total Revenue per Audited Statements
$3,328,629
Total Revenue per Form 990
$3,226,422
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,754,703
Salaries, Compensation, and Employee Benefits$1,451,279
Total Fundraising Expense$96,379
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$968,300$21,840-$990,140
Other Salaries and Wages$633,840$84,863$84,467$803,170
Current Officers, Directors, Trustees, and Key Employees$287,826$171,440-$459,266
Depreciation Depletion$285,454--$285,454
Information Technology$167,703--$167,703
Travel$101,710$10,867$759$113,336
Payroll Taxes$72,176$17,147$4,490$93,813
Other Employee Benefits$59,352$13,100$3,747$76,199
Occupancy$37,322$10,516-$47,838
Office Expenses$24,747$18,174$824$43,745
Other Expenses$18,858$23,816$379$43,053
Fees for Services Accounting$14,923$24,000-$38,923
Pension Plan Contributions$17,118-$1,713$18,831
Fees for Services Legal-$18,715-$18,715
Insurance-$5,796-$5,796
Total Functional Expenses$2,689,329$420,274$96,379$3,205,982

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,308,189
Expenses per Audited Statements$3,205,982
Total Expenses per Form 990$3,205,982
Expenses Not Reported on Form 990$102,207
Expenses Not Reported on Financial Statements$0
International Activity

International Summary

Offices
4
Employees
35
Spending
$517,116

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the PacificProgram ServicesMIX PROVIDES DATA SERVICES, RESEARCH REPORTS, PERFORMANCE & TRANSPARENCY STANDARDS to the microfinance industry.119$231,862
Middle East and North AfricaProgram ServicesMIX PROVIDES DATA SERVICES, RESEARCH REPORTS, PERFORMANCE & TRANSPARENCY STANDARDS to the microfinance industry.18$142,757
Latin AmericaProgram ServicesMIX PROVIDES DATA SERVICES, RESEARCH REPORTS, PERFORMANCE & TRANSPARENCY STANDARDS to the microfinance industry.15$103,973
Europe (Including Iceland & Greenland)Program ServicesMIX PROVIDES DATA SERVICES, RESEARCH REPORTS, PERFORMANCE & TRANSPARENCY STANDARDS to the microfinance industry.13$38,524
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

The form 990 is reviewed by the chief executive officer and chief operations officer for completeness and accuracy.

Form 990, Part VI, Section B, line 12C

Mix employees review with their supervisors while mix directors and officers review with the chairman of the mix board any activity that might result in actual or perceived conflict of interest with mix program services.

Form 990, Part VI, Section B, line 15

The board of directors approves compensation for all authorized positions. The board of directors assess the chief executive officer's performance annually based upon mutually agreed upon objectives set at the beginning of each performance period.

Form 990, Part VI, Section C, line 19

Mix's information is available to the public through its annual report on its corporate website (www.themix.org). Mix's conflict of interest policy and governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Microfinance Information Exchange Inc
EIN
36-4502299
Phone
2026599094
Address
2020 PENNSYLVANIA AVENUE NW No 353, WASHINGTON, DC 20006

Signing Officer

Name
Blaine Stephens
Title
Chief Operations Officer
Phone
2026599094
Signed
2018-01-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Blaine Stephens
Formed
2002
Legal Domicile
De
Voting Board Members
7
Independent Board Members
6
Employees
14
Volunteers
9

Preparer

Firm
UHY Advisors Mid-Atlantic MD Inc
Address
8601 Robert Fulton Drive Suite 210, Columbia, MD 21046
Preparer
Nancy Johnson
Phone
4107205220
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Analysis Consultants: Program service expenses 713,044. Management and general expenses 21,840. Fundraising expenses 0. Total expenses 734,884. IT Consultants: Program service expenses 250,423. Management and general expenses 0. Fundraising expenses 0. Total expenses 250,423. Translation Consultants: Program service expenses 4,833. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,833.

Financial Statement Notes

Part X, Line 2:

MIX has adopted the accounting standard for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this policy, MIX may recognize the tax benefit from an uncertain tax position only if it is more likely-than-not that the tax position would be sustained on examination by taxing authorities, based on the technical merits of the position. Management evaluated MIX's tax positions and concluded that MIX has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance.

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IRS990/MissionDesc0To help build the microfinance market infrastructure by offering data sourcing, benchmarking, and monitoring tools, as well as specialized information services on and for the various institutional actors who make up the microfinance industry.
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IRS990/ProgramServiceRevenueGrp/Desc0MICROFINANCE CONTRACT
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MIX has adopted the accounting standard for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this policy, MIX may recognize the tax benefit from an uncertain tax position only if it is more likely-than-not that the tax position would be sustained on examination by taxing authorities, based on the technical merits of the position. Management evaluated MIX's tax positions and concluded that MIX has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt05
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