Civic Intelligence

Microcredit Foundation Inc.

990 • Fiscal year 2020 • EIN 75-3146348

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

CO Tax Dept 10350 Bren Rd WMinnetonka, MN 55343

(952) 656-4607

Siviq Scores

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

Liabilities / Assets

87th percentile

0.46x

Higher debt load relative to assets than 87% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

100th percentile

106.16x

Higher debt load relative to revenue than 100% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

2nd percentile

-663%

Higher net margin than 2% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

9th percentile

-48%

Faster asset growth than 9% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

9th percentile

-78%

Faster revenue growth than 9% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Down

$390,195

Down $354,843 (-48%) from 2019

Net Assets

Down

$209,193

Down $354,843 (-63%) from 2019

Liabilities

Flat

$181,002

Flat from 2019

Revenue

Down

$1,705

Down $5,923 (-78%) from 2019

Expenses

Up

$13,002

Up $4,803 (+59%) from 2019

Net Income

Down

-$11,297

Down $10,726 (-1878%) from 2019

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2010: $807,159Liabilities 2010: $181,202Net Assets 2010: $625,9572010Assets 2011: $799,806Liabilities 2011: $181,002Net Assets 2011: $618,8042011Assets 2012: $794,418Liabilities 2012: $181,002Net Assets 2012: $613,4162012Assets 2013: $786,521Liabilities 2013: $181,002Net Assets 2013: $605,5192013Assets 2014: $778,200Liabilities 2014: $181,003Net Assets 2014: $597,1972014Assets 2015: $774,467Liabilities 2015: $181,002Net Assets 2015: $593,4652015Assets 2016: $776,092Liabilities 2016: $181,002Net Assets 2016: $595,0902016Assets 2017: $771,490Liabilities 2017: $181,002Net Assets 2017: $590,4882017Assets 2018: $745,609Liabilities 2018: $181,002Net Assets 2018: $564,6072018Assets 2019: $745,038Liabilities 2019: $181,002Net Assets 2019: $564,0362019Assets 2020: $390,195Liabilities 2020: $181,002Net Assets 2020: $209,1932020Assets 2021: $378,634Liabilities 2021: $181,002Net Assets 2021: $197,6322021Assets 2022: $379,552Liabilities 2022: $181,002Net Assets 2022: $198,5502022Assets 2023: $317,148Liabilities 2023: $181,627Net Assets 2023: $135,5212023Assets 2024: $311,820Liabilities 2024: $181,002Net Assets 2024: $130,8182024

Highlighted filing

2020

Assets$390,195
Liabilities$181,002
Net Assets$209,193

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2010: $120,010Expenses 2010: $34,760Net Income 2010: $85,2502010Revenue 2011: $10,067Expenses 2011: $17,220Net Income 2011: -$7,1532011Revenue 2012: $17Expenses 2012: $5,405Net Income 2012: -$5,3882012Revenue 2013: $12Expenses 2013: $7,909Net Income 2013: -$7,8972013Revenue 2014: $14Expenses 2014: $8,336Net Income 2014: -$8,3222014Revenue 2015: $12Expenses 2015: $3,744Net Income 2015: -$3,7322015Revenue 2016: $10,126Expenses 2016: $8,501Net Income 2016: $1,6252016Revenue 2017: $504Expenses 2017: $5,106Net Income 2017: -$4,6022017Revenue 2018: -$23,294Expenses 2018: $2,587Net Income 2018: -$25,8812018Revenue 2019: $7,628Expenses 2019: $8,199Net Income 2019: -$5712019Revenue 2020: $1,705Expenses 2020: $13,002Net Income 2020: -$11,2972020Revenue 2021: $32Expenses 2021: $4,102Net Income 2021: -$4,0702021Revenue 2022: $3,364Expenses 2022: $2,446Net Income 2022: $9182022Revenue 2023: $14,972Expenses 2023: $31,018Net Income 2023: -$16,0462023Revenue 2024: $16,198Expenses 2024: $20,901Net Income 2024: -$4,7032024

Highlighted filing

2020

Revenue$1,705
Expenses$13,002
Net Income-$11,297
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.1
Gross Receipts
$1,705
Mission and Program Overview

Mission

The foundation works to alleviate poverty by funding microfinance institutions, education programs and business development services for impoverished people outside of the united states.

Schedule othe foundation works to alleviate poverty by funding microfinance institutions, education programs and business development services for impoverished people outside of the united states.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$341,734$330,436▼ $11,298
Rtn Earn Endowment Incm Other Fnds$564,036$209,193▼ $354,843
Loans From Officers Directors$181,000$181,000→ $0
Investments Program Related$403,304$59,759▼ $343,545
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$745,038$390,195▼ $354,843
Liabilities
Accounts Payable and Accrued Expenses$2$2→ $0
Total Liabilities$181,002$181,002→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$564,036$209,193▼ $354,843
Total Liabilities and Net Assets / Fund Balance$745,038$390,195▼ $354,843

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$59,759--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael G RauenhorstV President/secretary
Asad MahmoodDirector
Stephen J MccarthyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,705
Other Revenue
$0
Change in Net Assets
$-11,297
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,002
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$11,950-$11,950
Insurance-$806-$806
Other Expenses-$36-$36
Total Functional Expenses$0$13,002$0$13,002
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$181,000$181,000→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

The governing body does not have committees.

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

Prior to filing form 990, an officer reviews the return. Approval of an officer is required prior to filing this return.

Form 990, Part VI, Section B, Line 15

The organization does not have employees, and pays no compensation to its board members or officers.

Form 990, Part VI, Section C, Line 19

UPON REQUEST

Form 990, Part VII Contact Addresses for Officers, Directors, Etc

Asad mahmood - c/o deutsche bank, 60 wall street, new york, ny 10005. Stephen j. Mccarthy - c/o kcg capital advisors, 888 3rd ave, new york, ny 10022.

Filing and Contact Details

Filer

Filer Name
Microcredit Foundation Inc
EIN
75-3146348
Phone
9526564607
Address
CO TAX DEPT 10350 BREN RD W, MINNETONKA, MN 55343

Signing Officer

Name
Michael Rauenhorst
Title
Vice President/secretary
Phone
9526564601
Signed
2021-11-11

Organization Details

Principal Officer
Michael G Rauenhorst
Formed
2003
Legal Domicile
Fl
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Investment write down -343,546.

Page 12, Part XI, Line 9

There was a write down in the program related investments account totaling $343,546.

Form 5471, Schedule F, Line 5

Micro credit limited is still awaiting a tax refund pending a tax audit for the years 2014-2016.

Raw XML Appendix344 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0SEE SCHEDULE OMICROCREDIT FOUNDATION, INC. IS THE PRIMARY OWNER OF JAMICRO HOLDINGS, LTD (INCORPORATED IN ST. LUCIA), WHICH IS THE SOLE OWNER OF MICRO CREDIT LIMITED (INCORPORATED IN JAMAICA). MICRO CREDIT LIMITED HAS MULTIPLE LOCATIONS IN JAMAICA THAT EXTEND MICRO-LOANS TO PROVIDE WORKING CAPITAL TO PEOPLE WHO OWN SMALL BUSINESSES IN IMPOVERISHED AREAS. MICRO-LOANS HELP ALLEVIATE POVERTY BY HELPING POOR PEOPLE INCREASE THEIR INCOME, BUILD VIABLE BUSINESSES, AND REDUCE THEIR VULNERABILITY TO UNFORESEEN CIRCUMSTANCES SUCH AS ILLNESS, WEATHER OR THEFT. THE FOUNDATION ALLEVIATES POVERTY PRIMARILY BY ESTABLISHING, SUPPORTING AND FINANCING MICROFINANCE INSTITUTION PARTNERS (MICRO CREDIT LIMITED), WHICH IN TURN PROVIDE MICRO-LOANS, EDUCATION AND OTHER RELATED SERVICES TO SELF-EMPLOYED PERSONS IN IMPOVERISHED AREAS OUTSIDE OF THE UNITED STATES. THE OPERATIONS OF MICRO CREDIT LIMTED WERE SOLD IN 2017. MICRO CREDIT LIMTED HAS CONTINUED TO WIND UP ITS AFFAIRS IN 2019 WITH A PLAN TO LIQUIDATE UPON EVENTUAL RECEIPT OF OUTSTANDING TAX REFUNDS FROM THE JAMAICAN GOVERNMENT.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GOVERNING BODY DOES NOT HAVE COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRIOR TO FILING FORM 990, AN OFFICER REVIEWS THE RETURN. APPROVAL OF AN OFFICER IS REQUIRED PRIOR TO FILING THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT HAVE EMPLOYEES, AND PAYS NO COMPENSATION TO ITS BOARD MEMBERS OR OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ASAD MAHMOOD - C/O DEUTSCHE BANK, 60 WALL STREET, NEW YORK, NY 10005. STEPHEN J. MCCARTHY - C/O KCG CAPITAL ADVISORS, 888 3RD AVE, NEW YORK, NY 10022.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INVESTMENT WRITE DOWN -343,546.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THERE WAS A WRITE DOWN IN THE PROGRAM RELATED INVESTMENTS ACCOUNT TOTALING $343,546.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MICRO CREDIT LIMITED IS STILL AWAITING A TAX REFUND PENDING A TAX AUDIT FOR THE YEARS 2014-2016.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6PAGE 12, PART XI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 5471, SCHEDULE F, LINE 5
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileForeignCountryCd0ST
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileForeignCountryCd1JM
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct00.53600
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct10.53600
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0MICROFINANCING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1MICROFINANCING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0JAMICRO HOLDINGS LIMITED
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1MICRO CREDIT LIMITED
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt02613
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt166291
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfTotalIncomeAmt0-2960
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0745038
IRS990/TotalAssetsEOYAmt0390195
IRS990/TotalAssetsGrp/BOYAmt0745038
IRS990/TotalAssetsGrp/EOYAmt0390195
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt013002
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt013002
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0181002
IRS990/TotalLiabilitiesEOYAmt0181002
IRS990/TotalLiabilitiesGrp/BOYAmt0181002
IRS990/TotalLiabilitiesGrp/EOYAmt0181002
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0564036
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0209193
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01705
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01705
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0745038
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0390195
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0C/O TAX DEPT 10350 BREN RD W
IRS990/USAddress/CityNm0MINNETONKA
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055343
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL RAUENHORST
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT/SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum09526564601
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MICROCREDIT FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MICR
ReturnHeader/Filer/EIN0753146348
ReturnHeader/Filer/PhoneNum09526564607
ReturnHeader/Filer/USAddress/AddressLine1Txt0CO TAX DEPT 10350 BREN RD W
ReturnHeader/Filer/USAddress/CityNm0MINNETONKA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055343
ReturnHeader/ReturnTs02021-11-15T11:56:32-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RAUENHORST
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.12$1.81$1.31$0.16$0.21$0.05
2023Detailed filing. Detailed filing data is available for this year.$3.17$1.82$1.36$0.15$0.31$0.16
2022Detailed filing. Detailed filing data is available for this year.$3.80$1.81$1.99$0.03$0.02$0.01
2021Detailed filing. Detailed filing data is available for this year.$3.79$1.81$1.98$0.00$0.04$0.04
2020Detailed filing. Detailed filing data is available for this year.$3.90$1.81$2.09$0.02$0.13$0.11
2019Detailed filing. Detailed filing data is available for this year.$7.45$1.81$5.64$0.08$0.08$0.01
2018Detailed filing. Detailed filing data is available for this year.$7.46$1.81$5.65$0.23$0.03$0.26
2017Detailed filing. Detailed filing data is available for this year.$7.71$1.81$5.90$0.01$0.05$0.05
2016Detailed filing. Detailed filing data is available for this year.$7.76$1.81$5.95$0.10$0.09$0.02
2015Detailed filing. Detailed filing data is available for this year.$7.74$1.81$5.93$0.00$0.04$0.04
2014Detailed filing. Detailed filing data is available for this year.$7.78$1.81$5.97$0.00$0.08$0.08
2013Summary only. Only limited summary data is available for this year.$7.87$1.81$6.06$0.00$0.08$0.08
2012Summary only. Only limited summary data is available for this year.$7.94$1.81$6.13$0.00$0.05$0.05
2011Summary only. Only limited summary data is available for this year.$8.00$1.81$6.19$0.10$0.17$0.07
2010Summary only. Only limited summary data is available for this year.$8.07$1.81$6.26$1.20$0.35$0.85