Civic Intelligence

Pact Global Microfinance Fund

990 • Fiscal year 2018 • EIN 45-5008824

Oct 01, 2017 to Sep 30, 2018 • Filed on Jun 04, 2019

1828 L Street NW No 300Washington, DC 20036

(202) 466-5666

Siviq Scores

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

Liabilities / Assets

71st percentile

0.55x

Higher debt load relative to assets than 71% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

82nd percentile

1.98x

Higher debt load relative to revenue than 82% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Net Margin

86th percentile

33%

Higher net margin than 86% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

52nd percentile

$493,016

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Asset Growth

88th percentile

18%

Faster asset growth than 88% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

75th percentile

16%

Faster revenue growth than 75% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Up

$226,557,821

Up $35,213,912 (+18%) from 2017

Net Assets

Up

$101,917,520

Up $6,891,075 (+7.3%) from 2017

Liabilities

Up

$124,640,301

Up $28,322,837 (+29%) from 2017

Revenue

Up

$62,873,738

Up $8,510,394 (+16%) from 2017

Expenses

Up

$42,026,415

Up $11,332,691 (+37%) from 2017

Net Income

Down

$20,847,323

Down $2,822,297 (-12%) from 2017

Historical Trend

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2014: $137,414,222Liabilities 2014: $56,356,280Net Assets 2014: $81,057,9422014Assets 2015: $123,432,502Liabilities 2015: $57,252,121Net Assets 2015: $66,180,3812015Assets 2016: $172,201,443Liabilities 2016: $90,219,288Net Assets 2016: $81,982,1552016Assets 2017: $191,343,909Liabilities 2017: $96,317,464Net Assets 2017: $95,026,4452017Assets 2018: $226,557,821Liabilities 2018: $124,640,301Net Assets 2018: $101,917,5202018Assets 2019: $301,077,938Liabilities 2019: $174,320,281Net Assets 2019: $126,757,6572019Assets 2020: $496,488,480Liabilities 2020: $303,562,392Net Assets 2020: $192,926,0882020Assets 2021: $330,972,074Liabilities 2021: $203,420,090Net Assets 2021: $127,551,9842021Assets 2022: $225,283,966Liabilities 2022: $126,467,214Net Assets 2022: $98,816,7522022Assets 2023: $85,027,550Liabilities 2023: $70,211,468Net Assets 2023: $14,816,0822023Assets 2024: $64,033,020Liabilities 2024: $43,183,457Net Assets 2024: $20,849,5632024

Highlighted filing

2018

Assets$226,557,821
Liabilities$124,640,301
Net Assets$101,917,520

Operations Trend

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

$200M$100M$0-$100MRevenue 2014: $30,081,895Expenses 2014: $20,373,981Net Income 2014: $9,707,9142014Revenue 2015: $29,785,064Expenses 2015: $44,662,628Net Income 2015: -$14,877,5642015Revenue 2016: $38,760,020Expenses 2016: $27,097,515Net Income 2016: $11,662,5052016Revenue 2017: $54,363,344Expenses 2017: $30,693,724Net Income 2017: $23,669,6202017Revenue 2018: $62,873,738Expenses 2018: $42,026,415Net Income 2018: $20,847,3232018Revenue 2019: $71,980,377Expenses 2019: $48,165,286Net Income 2019: $23,815,0912019Revenue 2020: $104,170,630Expenses 2020: $61,382,070Net Income 2020: $42,788,5602020Revenue 2021: $114,675,880Expenses 2021: $106,036,308Net Income 2021: $8,639,5722021Revenue 2022: $71,903,472Expenses 2022: $100,830,596Net Income 2022: -$28,927,1242022Revenue 2023: $37,673,305Expenses 2023: $121,673,975Net Income 2023: -$84,000,6702023Revenue 2024: $6,162,274Expenses 2024: $128,793Net Income 2024: $6,033,4812024

Highlighted filing

2018

Revenue$62,873,738
Expenses$42,026,415
Net Income$20,847,323
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Jun 4, 2019
Return Version
2017v2.3
Gross Receipts
$62,878,675
Mission and Program Overview

Mission

Using an integrated approach and local partnerships, pact global microfinance fund works to create a world where those who are poor and marginalized exercise their voice, build their own solutions and take ownership of their future. By strengthening local capacity, forging effective governance systems and transforming markets into a force for development, pact global microfinance fund makes measurable, lasting change in three main areas: health, livelihoods and natural resource management.

Using an integrated approach and local partnerships, pact global microfinance fund works to create a world where those who are poor and marginalized exercise their voice, build their own solutions and take ownership of their future.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$23,813,883$14,516,872▼ $9,297,011
Accounts Receivable$1,422,632$1,438,528▲ $15,896
Land, Buildings, and Equipment, Net$1,313,941$1,338,253▲ $24,312
Prepaid Expenses and Deferred Charges$502,213$309,480▼ $192,733
Cash and Non-Interest-Bearing Accounts$32,237$3,500▼ $28,737
Total Assets$191,343,909$226,557,821▲ $35,213,912
Other Assets Total$164,259,003$208,951,188▲ $44,692,185
Liabilities
Other Liabilities$91,957,945$97,251,496▲ $5,293,551
Mortgage Notes Payable Secured by Investment Property$0$22,954,598▲ $22,954,598
Accounts Payable and Accrued Expenses$3,292,847$3,780,386▲ $487,539
Deferred Revenue$1,066,672$653,821▼ $412,851
Total Liabilities$96,317,464$124,640,301▲ $28,322,837
Net Assets / Fund Balance
Unrestricted Net Assets$95,026,445$101,917,520▲ $6,891,075
Total Net Assets Fund Balance$95,026,445$101,917,520▲ $6,891,075
Total Liabilities and Net Assets / Fund Balance$191,343,909$226,557,821▲ $35,213,912

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,062,098$1,446,205$2,508,303
Other Land Buildings$276,155$192,842$468,997
Other Assets Org$208,951,188--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Steve H OleskeyBoard Chair
Mark VisoBoard Member & CEO
Jason MeikleDeputy Director
Frank SimsDirector
John KohlerDirector
Bruce PankeyCFO
Revenue and Support

Revenue Composition

Contributions and Grants
$1,390,084
Program Service Revenue
$61,488,591
Investment Income
$-4,937
Other Revenue
$0
Change in Net Assets
$20,847,323

Audited Revenue Reconciliation

Revenue per Audited Statements
$62,873,738
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$130,737,754
Total Revenue per Audited Statements
$193,611,492
Total Revenue per Form 990
$62,873,738
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$25,952,171
Salaries, Compensation, and Employee Benefits$16,074,244
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$861,289$13,607,098-$14,468,387
Interest$206,959$11,191,356-$11,398,315
Fees for Services Other$116,731$2,630,512-$2,747,243
Other Employee Benefits$87,690$1,518,167-$1,605,857
Travel$142,989$1,196,456-$1,339,445
Fees for Services Legal-$1,281,892-$1,281,892
Office Expenses$602,494$636,547-$1,239,041
Occupancy$45,444$625,107-$670,551
Insurance$24,529$549,763-$574,292
Depreciation Depletion$64,130$471,970-$536,100
Conferences and Meetings$56,046$305,490-$361,536
Fees for Services Accounting$1,390$61,503-$62,893
Other Expenses$68,498$-68,498-$0
Total Functional Expenses$2,278,189$39,748,226$0$42,026,415

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$182,688,353
Expenses Not Reported on Form 990$140,661,938
Expenses per Audited Statements$42,026,415
Total Expenses per Form 990$42,026,415
Expenses Not Reported on Financial Statements$0
International Activity

International Summary

Offices
122
Employees
4,182
Spending
$42,026,415

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 ServicesMicrofinance Lending1224,182$40,775,969
East Asia and the PacificProgram ServicesEngaging Markets Programs00$1,250,446
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Beneficiary Savings and Reserved Funds$84,542,956
Net Returns on Loans, Reinvested Earnings$8,660,521
Due to Related Party$3,024,227
Client Loan Funds$1,023,792
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

Members of governing body are selected by pact inc. Executive committee.

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

Once pact global microfinance fund's form 990 is completed by the tax preparer, it is reviewed in detail by the controller. Once the controller is satisfied that the return is complete and accurate, it is reviewed by pact's cfo. Pact global microfinance fund's 990 is also provided to its board of directors prior to filing. The return is posted on a secure website for a period of time, and the board is notified of its location, as well as the password. Any comments received by board members are analyzed and considered, as appropriate, prior to submitting the return.

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

Each board member is required to read the conflict of interest policy and complete an acknowledgement form annually. All employees are required to sign a conflict of interest policy at hiring, and complete an annual update (review of the conflict of interest policy, and signing of a disclosure form).

Form 990, Part VI, Section C, Line 19

Pgmf's governing documents, conflict of interest policy, and financial statements are made available to members of the public upon request for the same period of disclosure as set forth in section 6104(d).

FORM 990, PART VI, LINE 15 & SCHEDULE J:

Pact global microfinance fund does not compensate anyone shown in part vii of the form 990 or schedule j, part ii. The compensation shown in these sections is paid by pact, inc, the organization's related organization. Pact global microfinance fund relies on the compensation determination methodology of pact, inc., pgmf's related organization, under an administrative services agreement. The following is the compensation methodology used by pact, inc. Pact's bylaws state that the "salary of the president and chief executive officer and the terms of his or her employment shall be fixed by the board of directors. The salaries of all other staff and the terms of their employment shall be fixed by the president and chief executive officer." ceo: pact's current ceo was hired in april 2009. In connection with the search for the ceo, the board used an executive search firm. That firm, in assisting the board, conducted a compensation survey and benchmarking activities to determine an appropriate market-based compensation for pact's ceo, taking into account organization size, complexity, and other relevant factors. The executive committee of the board ultimately set the ceo's salary, which was informed by the information provided by the search firm. The board conducts an annual evaluation of the ceo and awards merit-based increases as deemed appropriate. Other officers or key employees: the ceo is responsible for the compensation of other employees, but is directly involved only in the hiring and salary negotiations of c-level positions. In these cases, where pact is utilizing a search firm, the firm has provided market information to assist in the determination of appropriate compensation levels. For key employees beyond the c-suite, the pact human resources lead is responsible for salary determinations. In many cases, pact's employees are paid under a federal award and the compensation is included in a proposal and is approved by the awarding agency, subject to the agency's compensation standards. In other cases, pact uses a series of annual salary surveys of peer organizations, conducted by an industry trade association, to inform salary levels. Humentum, the trade association of international ngo organizations, conducts three annual surveys: salary and benefits survey for hq staff, us expatriate/tcn salary and allowances survey, and local national salary and benefits information survey. Pact also consults the forms 990 of similar organizations for salary information. All pact employees are evaluated on an annual basis, and merit-based increases are determined and awarded from an approved pool, administered by the pact human resources lead.

Filing and Contact Details

Filer

Filer Name
Pact Global Microfinance Fund
EIN
45-5008824
Phone
2024665666
Address
1828 L STREET NW NO 300, WASHINGTON, DC 20036

Signing Officer

Name
Mark Viso
Title
CEO
Phone
2024665666
Signed
2019-06-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Viso
Formed
2012
Legal Domicile
De
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Rsm US Llp
Address
1861 INTERNATIONAL DRIVE SUITE 400, MCLEAN, VA 22102
Preparer
Kristen Barnett CPA
Phone
7033366400
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Unrealized foreign exchange loss -13,956,248.

FORM 990, PART XII, LINE 2C:

The process for overseeing the audit of the financial statements and selection of an independent accountant to audited the financial statements has been consistent with prior years.

Form 990, Part I, Line 6

The board of directors is comprised of volunteers.

Part I, Line 5

The number of employees noted in line 5 represents only employees who are us citizens. Pgmf has employees who are third country and local nationals working in its offices in burma, who are not subject to u.s. Wage and tax reporting requirements.

FORM 990, PART IX, LINE 11G, COLUMN (C):

Pact global microfinance fund was organized to support the charitable and educational activities of pact, inc. And to contribute to the growth of civil society, strengthen the community-focused non profit sector worldwide, and implement innovative program initiatives. Pact global microfinance fund and pact, inc. Operate in a shared services environment. As such, pact global microfinance fund reimburses pact inc. For its share of employee costs based on percentage of time devoted to pact global microfinance fund projects at cost.

Financial Statement Notes

PART X, LINE 2:

The organization is generally exempt from federal income taxes under the provisions of section 501(c) (3) of the internal revenue code. Income that is not related to exempt purposes, less applicable deductions, is subject to federal and state corporate income taxes. The organization had no significant net unrelated business income for the year ended september 30, 2018. Management evaluated the organization's tax positions and concluded that it has taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with the provisions of the accounting guidance for uncertainty in income taxes. Generally, the organization is no longer subject to income tax examinations by the u.s. Federal, state, or local tax authorities for years before 2015.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Pact institute revenue included in consolidated fs 21,830,132. Pact, inc. Revenue included in consolidated fs 124,567,486. Pact uk revenue included in consolidated fs 2,569,576. Eliminations included in consolidated fs -4,273,192. Unrealized foreign exchange loss -13,956,248.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Pact institute expenses included in consolidated fs 21,595,152. Pact, inc. Expenses included in consolidated fs 121,004,211. Pact uk expenses included in consolidated fs 2,335,767. Eliminations included in consolidated fs -4,273,192.

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IRS990/ActivityOrMissionDesc0USING AN INTEGRATED APPROACH AND LOCAL PARTNERSHIPS, PACT GLOBAL MICROFINANCE FUND WORKS TO CREATE A WORLD WHERE THOSE WHO ARE POOR AND MARGINALIZED EXERCISE THEIR VOICE, BUILD THEIR OWN SOLUTIONS AND TAKE OWNERSHIP OF THEIR FUTURE.
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IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt03
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt0549763
IRS990/InsuranceGrp/ProgramServicesAmt024529
IRS990/InsuranceGrp/TotalAmt0574292
IRS990/InterestGrp/ManagementAndGeneralAmt011191356
IRS990/InterestGrp/ProgramServicesAmt0206959
IRS990/InterestGrp/TotalAmt011398315
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01639047
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01313941
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01338253
IRS990/LandBldgEquipCostOrOtherBssAmt02977300
IRS990/LegalDomicileStateCd0DE
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt04937
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0USING AN INTEGRATED APPROACH AND LOCAL PARTNERSHIPS, PACT GLOBAL MICROFINANCE FUND WORKS TO CREATE A WORLD WHERE THOSE WHO ARE POOR AND MARGINALIZED EXERCISE THEIR VOICE, BUILD THEIR OWN SOLUTIONS AND TAKE OWNERSHIP OF THEIR FUTURE. BY STRENGTHENING LOCAL CAPACITY, FORGING EFFECTIVE GOVERNANCE SYSTEMS AND TRANSFORMING MARKETS INTO A FORCE FOR DEVELOPMENT, PACT GLOBAL MICROFINANCE FUND MAKES MEASURABLE, LASTING CHANGE IN THREE MAIN AREAS: CAPACITY DEVELOPMENT, LIVELIHOODS AND NATURAL RESOURCE MANAGEMENT.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt022954598
IRS990/NetAssetsOrFundBalancesBOYAmt095026445
IRS990/NetAssetsOrFundBalancesEOYAmt0101917520
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-4937
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-4937
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0625107
IRS990/OccupancyGrp/ProgramServicesAmt045444
IRS990/OccupancyGrp/TotalAmt0670551
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0636547
IRS990/OfficeExpensesGrp/ProgramServicesAmt0602494
IRS990/OfficeExpensesGrp/TotalAmt01239041
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0164259003
IRS990/OtherAssetsTotalGrp/EOYAmt0208951188
IRS990/OtherChangesInNetAssetsAmt0-13956248
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01518167
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt087690
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01605857
IRS990/OtherExpensesGrp/Desc0AFFILIATE ADMIN COST RE
IRS990/OtherExpensesGrp/Desc1ALLOCABLE MGT & GENERAL
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05740863
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1-68498
IRS990/OtherExpensesGrp/ProgramServicesAmt068498
IRS990/OtherExpensesGrp/TotalAmt05740863
IRS990/OtherExpensesGrp/TotalAmt10
IRS990/OtherLiabilitiesGrp/BOYAmt091957945
IRS990/OtherLiabilitiesGrp/EOYAmt097251496
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt013607098
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0861289
IRS990/OtherSalariesAndWagesGrp/TotalAmt014468387
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0502213
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0309480
IRS990/PrincipalOfficerNm0MARK VISO
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/Desc0MICROFINANCE LOAN ACT.
IRS990/ProgramServiceRevenueGrp/Desc1FEE INCOME ON LOAN ACT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt060287612
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11200979
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt060287612
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11200979
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt05635258
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0913668
IRS990/PYInvestmentIncomeAmt0-4305
IRS990/PYOtherExpensesAmt016795081
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt048732391
IRS990/PYRevenuesLessExpensesAmt023669620
IRS990/PYSalariesCompEmpBnftPaidAmt012984975
IRS990/PYTotalExpensesAmt030693724
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt054363344
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt020847323
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt061488591
IRS990/SavingsAndTempCashInvstGrp/BOYAmt023813883
IRS990/SavingsAndTempCashInvstGrp/EOYAmt014516872
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0132702768
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0PACT INC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt01062098
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01446205
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02508303
IRS990ScheduleD/ExpensesNotReportedAmt0140661938
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt042026415
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0208951188
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LOAN PORTFOLIO
IRS990ScheduleD/OtherExpensesIncludedAmt0140661938
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0276155
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0192842
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0468997
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt084542956
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18660521
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21023792
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt33024227
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BENEFICIARY SAVINGS AND RESERVED FUNDS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET RETURNS ON LOANS, REINVESTED EARNINGS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CLIENT LOAN FUNDS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3DUE TO RELATED PARTY
IRS990ScheduleD/OtherRevenueAmt0130737754
IRS990ScheduleD/RevenueNotReportedAmt0130737754
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt062873738
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE. INCOME THAT IS NOT RELATED TO EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. THE ORGANIZATION HAD NO SIGNIFICANT NET UNRELATED BUSINESS INCOME FOR THE YEAR ENDED SEPTEMBER 30, 2018. MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT IT HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES. GENERALLY, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2015.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1PACT INSTITUTE REVENUE INCLUDED IN CONSOLIDATED FS 21,830,132. PACT, INC. REVENUE INCLUDED IN CONSOLIDATED FS 124,567,486. PACT UK REVENUE INCLUDED IN CONSOLIDATED FS 2,569,576. ELIMINATIONS INCLUDED IN CONSOLIDATED FS -4,273,192. UNREALIZED FOREIGN EXCHANGE LOSS -13,956,248.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2PACT INSTITUTE EXPENSES INCLUDED IN CONSOLIDATED FS 21,595,152. PACT, INC. EXPENSES INCLUDED IN CONSOLIDATED FS 121,004,211. PACT UK EXPENSES INCLUDED IN CONSOLIDATED FS 2,335,767. ELIMINATIONS INCLUDED IN CONSOLIDATED FS -4,273,192.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01338253
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0208951188
IRS990ScheduleD/TotalExpensesPerForm990Amt042026415
IRS990ScheduleD/TotalLiabilityAmt097251496
IRS990ScheduleD/TotalRevenuePerForm990Amt062873738
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0193611492
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0182688353
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt04182
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt0122
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt040775969
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt11250446
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0MICROFINANCE LENDING
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1ENGAGING MARKETS PROGRAMS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1PROGRAM SERVICES
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinuationTotalEmployeeCnt00
IRS990ScheduleF/ContinuationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt04182
IRS990ScheduleF/SubtotalOfficesCnt0122
IRS990ScheduleF/SubtotalSpentAmt042026415
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0I. PURPOSE: TO SYNTHESIZE THE COMPLIANCE REQUIREMENTS FOR SUBRECIPIENT MONITORING. PROPER MONITORING SHOULD MEASURE PROGRESS TOWARD TARGETED RESULTS AND ENSURE THAT RESOURCES ARE USED ONLY FOR THE INTENDED PURPOSE. THIS POLICY IS APPLICABLE TO ALL SUBRECIPIENTS, DOMESTIC OR FOREIGN, RECEIVING FUNDS FROM PGMF. II. POLICY: PGMF, AS A PRIME RECIPIENT, IS RESPONSIBLE FOR MANAGING AND MONITORING SUBRECIPIENTS. III. PROCEDURE: THERE IS NOT A SINGLE METHOD FOR MONITORING SUBRECIPIENTS OR ONE TEMPLATE BECAUSE PROJECTS VARY BY THEIR NATURE AND REQUIREMENTS. MONITORING PLANS HAVE TO BE DEVELOPED SPECIFIC TO A GRANTS PROGRAM. A SOUND MONITORING PLAN SHOULD CAPTURE THE PROGRESS MADE TO ACCOMPLISH THE OBJECTIVES FOR WHICH THE AWARD WAS MADE. HOWEVER, THERE ARE CERTAIN COMMON ELEMENTS THAT COMPRISE GOOD MONITORING PLANS. THESE ARE: 1. PERFORMANCE REPORTS - THE TERMS AND CONDITIONS OF THE AWARD TO THE SUBRECIPIENT WILL PRESCRIBE THE FREQUENCY WITH WHICH PERFORMANCE REPORTS SHALL BE SUBMITTED. THEY WILL NOT BE REQUIRED MORE FREQUENTLY THAN QUARTERLY OR, LESS FREQUENTLY THAN ANNUALLY. THEY SHOULD GENERALLY CONTAIN: (A) A COMPARISON OF ACTUAL ACCOMPLISHMENTS WITH THE GOALS AND OBJECTIVES ESTABLISHED FOR THE PERIOD AND (B) REASONS WHY ESTABLISHED GOALS WERE NOT MET, IF THEY WERE NOT MET. REPORTS SHOULD ALSO DESCRIBE PROBLEMS, DELAYS, OR ADVERSE CONDITIONS WHICH MATERIALLY IMPAIR THE ABILITY TO MEET THE OBJECTIVES OF THE AWARD AND INCLUDE A STATEMENT OF THE ACTION TAKEN OR CONTEMPLATED, AND ANY ASSISTANCE NEEDED TO RESOLVE THE SITUATION. 2. FINANCIAL REPORTS - THE TYPE AND FREQUENCY OF REPORTING REQUIRED WILL BE ESTABLISHED IN THE AWARD. NORMALLY, THE FINANCIAL REPORT SHALL NOT BE REQUIRED MORE FREQUENTLY THAN QUARTERLY BUT SUBRECIPIENTS THAT HAVE BEEN DETERMINED TO BE "AT RISK" MAY BE REQUIRED TO SUBMIT MONTHLY FINANCIAL REPORTS. 3. SITE VISITS - TO REVIEW FINANCIAL AND PROGRAMMATIC RECORDS AND OBSERVE OPERATIONS. NEW SUBRECIPIENTS AND THOSE OTHERWISE CONSIDERED HIGHER-RISK MAY REQUIRE CLOSER MONITORING. 4. AGREED-UPON PROCEDURES ENGAGEMENTS - THESE MAY BE ARRANGED FOR CERTAIN ASPECTS OF SUBRECIPIENT ACTIVITIES AND/OR COMPLIANCE AREAS TO BE TESTED SUCH AS INTERNAL CONTROLS, USE OF USAID FUNDS FOR AUTHORIZED PURPOSES (ACTIVITIES ALLOWED OR UNALLOWED), ALLOWABLE COSTS/COST PRINCIPLES, COST SHARING, AND SPECIAL AWARD CONDITIONS. V. AUDIT OF SUBRECIPIENTS 1) U.S. NONPROFIT SUBRECIPIENTS EXPENDING $500,000 OR MORE IN FEDERAL AWARDS DURING THEIR FISCAL YEAR ARE SUBJECT TO AUDIT REQUIREMENTS IN OMB CIRCULAR A-133. 2) NON-U.S. SUBRECIPIENTS ARE SUBJECT ONLY TO MONITORING BY PACT GLOBAL MICROFINANCE FUND FOLLOWING APPLICABLE US GOVERNMENT AUDIT COMPLIANCE REQUIREMENTS, WHERE APPROPRIATE.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION USES GAAP TO REPORT EXPENDITURES IN A FOREIGN REGION.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 3:
IRS990ScheduleF/TotalEmployeeCnt04182
IRS990ScheduleF/TotalOfficeCnt0122
IRS990ScheduleF/TotalSpentAmt042026415
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0420383
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1207424
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2175270
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt050781
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt213717
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt021133
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt17941
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt0719
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt11075
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt255730

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