Civic Intelligence

Pact Global Microfinance Fund

990 • Fiscal year 2019 • EIN 45-5008824

Oct 01, 2018 to Sep 30, 2019 • Filed on Jun 29, 2020

1828 L Street NW Suite 300Washington, DC 20036

(202) 466-5666

Siviq Scores

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

Liabilities / Assets

74th percentile

0.58x

Higher debt load relative to assets than 74% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

89th percentile

2.42x

Higher debt load relative to revenue than 89% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Net Margin

90th percentile

33%

Higher net margin than 90% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

24th percentile

$466,244

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Asset Growth

95th percentile

33%

Faster asset growth than 95% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Revenue Growth

82nd percentile

14%

Faster revenue growth than 82% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Assets

Up

$301,077,938

Up $74,520,117 (+33%) from 2018

Net Assets

Up

$126,757,657

Up $24,840,137 (+24%) from 2018

Liabilities

Up

$174,320,281

Up $49,679,980 (+40%) from 2018

Revenue

Up

$71,980,377

Up $9,106,639 (+14%) from 2018

Expenses

Up

$48,165,286

Up $6,138,871 (+15%) from 2018

Net Income

Up

$23,815,091

Up $2,967,768 (+14%) from 2018

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

2019

Assets$301,077,938
Liabilities$174,320,281
Net Assets$126,757,657

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

2019

Revenue$71,980,377
Expenses$48,165,286
Net Income$23,815,091
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Jun 29, 2020
Return Version
2018v3.2
Gross Receipts
$71,980,379
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$14,516,872$24,554,475▲ $10,037,603
Land, Buildings, and Equipment, Net$1,338,253$1,653,240▲ $314,987
Pledges and Grants Receivable-$635,219-
Prepaid Expenses and Deferred Charges$309,480$444,915▲ $135,435
Accounts Receivable$1,438,528$402,350▼ $1,036,178
Cash and Non-Interest-Bearing Accounts$3,500$1,774▼ $1,726
Total Assets$226,557,821$301,077,938▲ $74,520,117
Other Assets Total$208,951,188$273,385,965▲ $64,434,777
Liabilities
Other Liabilities$97,251,496$119,054,436▲ $21,802,940
Mortgage Notes Payable Secured by Investment Property$22,954,598$53,526,768▲ $30,572,170
Accounts Payable and Accrued Expenses$3,780,386$1,739,077▼ $2,041,309
Deferred Revenue$653,821--
Total Liabilities$124,640,301$174,320,281▲ $49,679,980
Net Assets / Fund Balance
Unrestricted Net Assets$101,917,520$126,757,657▲ $24,840,137
Total Net Assets Fund Balance$101,917,520$126,757,657▲ $24,840,137
Total Liabilities and Net Assets / Fund Balance$226,557,821$301,077,938▲ $74,520,117

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,293,604$1,918,723$3,212,327
Other Land Buildings$359,636$237,263$596,899
Other Assets Org$273,385,965--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Stephen OleskeyBoard Chair
Ellen VarneyBoard Member
Frank SimsBoard Member
John KohlerBoard Member
Mark VisoBoard Member & CEO (until July 2019)
Jason MeikleDeputy Director - Pgmf
Mamunur RashidFinance Director - Pgmf
Bruce PankeyCFO/treasurer (until March 2019)
Fahmid BhuiyaCOO - Pgmf
Revenue and Support

Revenue Composition

Contributions and Grants
$2,091,563
Program Service Revenue
$69,888,816
Investment Income
$-2
Other Revenue
$0
Change in Net Assets
$23,815,091

Audited Revenue Reconciliation

Revenue per Audited Statements
$71,980,377
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$147,042,681
Total Revenue per Audited Statements
$219,023,058
Total Revenue per Form 990
$71,980,377
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$31,742,322
Salaries, Compensation, and Employee Benefits$16,384,282
Grants and Similar Amounts Paid$38,682
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$870,691$15,467,816-$16,338,507
Interest$274,248$15,164,117-$15,438,365
Office Expenses$747,577$2,914,643-$3,662,220
Conferences and Meetings$1,828,454$388,874-$2,217,328
Travel$138,516$1,693,477-$1,831,993
Occupancy$35,325$797,801-$833,126
Depreciation Depletion$35,899$540,135-$576,034
Fees for Services Legal$34,125$253,116-$287,241
Fees for Services Accounting$14,221$105,481-$119,702
Fees for Services Other$12,348$100,754-$113,102
Other Expenses$2,037$91,192-$93,229
Other Employee Benefits-$45,775-$45,775
Foreign Grants$38,682--$38,682
Total Functional Expenses$4,032,123$44,133,163$0$48,165,286

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$193,409,661
Expenses Not Reported on Form 990$145,244,375
Expenses per Audited Statements$48,165,286
Total Expenses per Form 990$48,165,286
Expenses Not Reported on Financial Statements$0
International Activity

International Summary

Offices
145
Employees
4,583
Spending
$48,165,285

International Compliance

Foreign grant records maintained
Yes
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 Lending1454,583$47,165,058
East Asia and the PacificProgram ServicesEngaging Markets Programs00$957,192
East Asia and the PacificGrant Making-00$38,682
East Asia and the PacificProgram ServicesCapacity Development Programs00$4,353
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$108,576,235
Net Returns on Loans, Reinvested Earnings$8,153,783
Due to Related Party$2,324,418
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 ceo was hired in april 2009 and served through july 2019. 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, pact's svp of human resources 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 pact's svp of human resources.

Filing and Contact Details

Filer

Filer Name
Pact Global Microfinance Fund
EIN
45-5008824
Phone
2024665666
Address
1828 L STREET NW SUITE 300, WASHINGTON, DC 20036

Signing Officer

Name
Samantha Barbee
Title
CFO
Phone
2024665666
Signed
2020-06-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Caroline Anstey
Formed
2012
Legal Domicile
De
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

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

Additional Explanations

FORM 990, PART XI, LINE 9:

Unrealized foreign exchange gain 1,025,046.

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, 2019. 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 2016.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Pact institute revenue included in consolidated financial statements 21,913,793. Pact, inc. Revenue included in consolidated financial statements 122,836,365. Pact uk revenue included in consolidated financial statements 4,182,270. Pact global revenue included in consolidated financial statements 6,370. Pact ventures revenue included in consolidated financial statements 15,226. Elimination entry included in consolidated financial statements -2,936,389. Unrealized foreign exchange gain 1,025,046.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Pact institute expenses included in consolidated financial statements 21,550,755. Pact, inc. Expenses included in consolidated financial statements 122,431,131. Pact uk expenses included in consolidated financial statements 4,088,968. Pact ventures expenses included in consolidated financial statements 109,910. Elimination entry included in consolidated financial statements -2,936,389.

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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/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt8150285
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER & CEO (UNTIL JULY 2019)
IRS990/Form990PartVIISectionAGrp/TitleTxt5CFO/TREASURER (UNTIL MARCH 2019)
IRS990/Form990PartVIISectionAGrp/TitleTxt6COO - PGMF
IRS990/Form990PartVIISectionAGrp/TitleTxt7DEPUTY DIRECTOR - PGMF
IRS990/Form990PartVIISectionAGrp/TitleTxt8FINANCE DIRECTOR - PGMF
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IRS990/FormationYr02012
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IRS990/FSAuditedInd01
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IRS990/GainOrLossGrp/OtherAmt0-2
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GovernmentGrantsAmt02091563
IRS990/GrantAmt038682
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt071980379
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IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
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IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InfoInScheduleOPartXIInd0X
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IRS990/InterestGrp/ProgramServicesAmt0274248
IRS990/InterestGrp/TotalAmt015438365
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IRS990/LandBldgEquipCostOrOtherBssAmt03809226
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IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt02
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0EFFECTIVE 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/MoreThan5000KToOrgInd01
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt022954598
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt053526768
IRS990/NetAssetsOrFundBalancesBOYAmt0101917520
IRS990/NetAssetsOrFundBalancesEOYAmt0126757657
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-2
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-2
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0797801
IRS990/OccupancyGrp/ProgramServicesAmt035325
IRS990/OccupancyGrp/TotalAmt0833126
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02914643
IRS990/OfficeExpensesGrp/ProgramServicesAmt0747577
IRS990/OfficeExpensesGrp/TotalAmt03662220
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0208951188
IRS990/OtherAssetsTotalGrp/EOYAmt0273385965
IRS990/OtherChangesInNetAssetsAmt01025046
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt045775
IRS990/OtherEmployeeBenefitsGrp/TotalAmt045775
IRS990/OtherExpensesGrp/Desc0AFFILIATE ADMIN COST RE
IRS990/OtherExpensesGrp/Desc1VEHICLES & EQUIPMENT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06569982
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt191192
IRS990/OtherExpensesGrp/ProgramServicesAmt02037
IRS990/OtherExpensesGrp/TotalAmt06569982
IRS990/OtherExpensesGrp/TotalAmt193229
IRS990/OtherLiabilitiesGrp/BOYAmt097251496
IRS990/OtherLiabilitiesGrp/EOYAmt0119054436
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt015467816
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0870691
IRS990/OtherSalariesAndWagesGrp/TotalAmt016338507
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0635219
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0309480
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0444915
IRS990/PrincipalOfficerNm0CAROLINE ANSTEY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/Desc0MICROFINANCE LOAN ACT.
IRS990/ProgramServiceRevenueGrp/Desc1FEE INCOME ON LOAN ACT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt069024915
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1863901
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt069024915
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1863901
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01390084
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0-4937
IRS990/PYOtherExpensesAmt025952171
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt061488591
IRS990/PYRevenuesLessExpensesAmt020847323
IRS990/PYSalariesCompEmpBnftPaidAmt016074244
IRS990/PYTotalExpensesAmt042026415
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt062873738
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt023815091
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt069888816
IRS990/SavingsAndTempCashInvstGrp/BOYAmt014516872
IRS990/SavingsAndTempCashInvstGrp/EOYAmt024554475
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
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IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt038682
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0PACT INC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt038682
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt01293604
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01918723
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03212327
IRS990ScheduleD/ExpensesNotReportedAmt0145244375
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt048165286
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0273385965
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LOAN PORTFOLIO
IRS990ScheduleD/OtherExpensesIncludedAmt0145244375
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0359636
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0237263
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0596899
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0108576235
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18153783
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22324418
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BENEFICIARY SAVINGS AND RESERVED FUNDS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET RETURNS ON LOANS, REINVESTED EARNINGS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO RELATED PARTY
IRS990ScheduleD/OtherRevenueAmt0147042681
IRS990ScheduleD/RevenueNotReportedAmt0147042681
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt071980377
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, 2019. 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 2016.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1PACT INSTITUTE REVENUE INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 21,913,793. PACT, INC. REVENUE INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 122,836,365. PACT UK REVENUE INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 4,182,270. PACT GLOBAL REVENUE INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 6,370. PACT VENTURES REVENUE INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 15,226. ELIMINATION ENTRY INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS -2,936,389. UNREALIZED FOREIGN EXCHANGE GAIN 1,025,046.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2PACT INSTITUTE EXPENSES INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 21,550,755. PACT, INC. EXPENSES INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 122,431,131. PACT UK EXPENSES INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 4,088,968. PACT VENTURES EXPENSES INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 109,910. ELIMINATION ENTRY INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS -2,936,389.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01653240
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0273385965
IRS990ScheduleD/TotalExpensesPerForm990Amt048165286
IRS990ScheduleD/TotalLiabilityAmt0119054436
IRS990ScheduleD/TotalRevenuePerForm990Amt071980377
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0219023058
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0193409661
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt04583
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt20
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt30
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt0145
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt20
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt30
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt047165058
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt1957192
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt24353
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt338682
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt2EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt3EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0MICROFINANCE LENDING
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1ENGAGING MARKETS PROGRAMS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt2CAPACITY DEVELOPMENT PROGRAMS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt2PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt3GRANT MAKING
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinuationTotalEmployeeCnt00
IRS990ScheduleF/ContinuationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/GrantRecordsMaintainedInd01
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt037521
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0WIRE
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0MICROFINANCE LENDING
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0EAST ASIA AND THE PACIFIC
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt04583
IRS990ScheduleF/SubtotalOfficesCnt0145
IRS990ScheduleF/SubtotalSpentAmt048165285
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:

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