Civic Intelligence

Pro Mujer Inc.

990 • Fiscal year 2022 • EIN 98-0115409

Jan 01, 2022 to Dec 31, 2022 • Filed on Sep 22, 2023

515 Madison Avenue 8th FloorNew York, NY 10022

(646) 626-7000

Siviq Scores

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

Liabilities / Assets

84th percentile

0.81x

Higher debt load relative to assets than 84% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Liabilities / Revenue

88th percentile

2.80x

Higher debt load relative to revenue than 88% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Net Margin

79th percentile

20%

Higher net margin than 79% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Top Officer Pay

18th percentile

$371,731

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Asset Growth

71st percentile

2.8%

Faster asset growth than 71% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Revenue Growth

89th percentile

36%

Faster revenue growth than 89% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Assets

Up

$255,520,518

Up $6,986,139 (+2.8%) from 2021

Net Assets

Up

$49,117,410

Up $4,481,103 (+10%) from 2021

Liabilities

Up

$206,403,108

Up $2,505,036 (+1.2%) from 2021

Revenue

Up

$73,791,330

Up $19,407,722 (+36%) from 2021

Expenses

Up

$59,022,219

Up $8,116,511 (+16%) from 2021

Net Income

Up

$14,769,111

Up $11,291,211 (+325%) from 2021

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $88,601,429Liabilities 2010: $48,559,879Net Assets 2010: $40,041,5502010Assets 2011: $130,112,372Liabilities 2011: $81,132,522Net Assets 2011: $48,979,8502011Assets 2012: $165,169,367Liabilities 2012: $106,604,178Net Assets 2012: $58,565,1892012Assets 2013: $152,932,880Liabilities 2013: $98,019,942Net Assets 2013: $54,912,9382013Assets 2014: $156,191,734Liabilities 2014: $100,800,085Net Assets 2014: $55,391,6492014Assets 2015: $140,454,089Liabilities 2015: $88,951,454Net Assets 2015: $51,502,6352015Assets 2016: $158,133,001Liabilities 2016: $107,118,056Net Assets 2016: $51,014,9452016Assets 2017: $167,849,403Liabilities 2017: $108,852,667Net Assets 2017: $58,996,7362017Assets 2018: $155,869,797Liabilities 2018: $103,818,613Net Assets 2018: $52,051,1842018Assets 2019: $160,331,314Liabilities 2019: $118,149,582Net Assets 2019: $42,181,7322019Assets 2020: $221,412,399Liabilities 2020: $180,648,854Net Assets 2020: $40,763,5452020Assets 2021: $248,534,379Liabilities 2021: $203,898,072Net Assets 2021: $44,636,3072021Assets 2022: $255,520,518Liabilities 2022: $206,403,108Net Assets 2022: $49,117,4102022Assets 2023: $270,187,060Liabilities 2023: $230,226,721Net Assets 2023: $39,960,3392023Assets 2024: $271,825,068Liabilities 2024: $232,647,412Net Assets 2024: $39,177,6562024

Highlighted filing

2022

Assets$255,520,518
Liabilities$206,403,108
Net Assets$49,117,410

Operations Trend

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

$80M$60M$40M$20M$0-$20MRevenue 2010: $31,628,888Expenses 2010: $28,040,608Net Income 2010: $3,588,2802010Revenue 2011: $47,799,483Expenses 2011: $38,849,583Net Income 2011: $8,949,9002011Revenue 2012: $61,327,991Expenses 2012: $51,724,423Net Income 2012: $9,603,5682012Revenue 2013: $53,125,922Expenses 2013: $52,118,289Net Income 2013: $1,007,6332013Revenue 2014: $55,019,606Expenses 2014: $54,703,358Net Income 2014: $316,2482014Revenue 2015: $48,263,169Expenses 2015: $52,406,359Net Income 2015: -$4,143,1902015Revenue 2016: $51,814,523Expenses 2016: $51,891,165Net Income 2016: -$76,6422016Revenue 2017: $58,341,155Expenses 2017: $55,114,699Net Income 2017: $3,226,4562017Revenue 2018: $52,851,906Expenses 2018: $56,729,405Net Income 2018: -$3,877,4992018Revenue 2019: $50,104,187Expenses 2019: $54,071,638Net Income 2019: -$3,967,4512019Revenue 2020: $46,513,948Expenses 2020: $45,982,810Net Income 2020: $531,1382020Revenue 2021: $54,383,608Expenses 2021: $50,905,708Net Income 2021: $3,477,9002021Revenue 2022: $73,791,330Expenses 2022: $59,022,219Net Income 2022: $14,769,1112022Revenue 2023: $75,116,159Expenses 2023: $73,358,588Net Income 2023: $1,757,5712023Revenue 2024: $66,652,586Expenses 2024: $68,791,634Net Income 2024: -$2,139,0482024

Highlighted filing

2022

Revenue$73,791,330
Expenses$59,022,219
Net Income$14,769,111
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 22, 2023
Return Version
2022v5.0
Gross Receipts
$73,791,330
Mission and Program Overview

Mission

Pro mujer empowers underserved women in latin america to realize their full potential. We are a women's development organization, serving more than a quarter of a million women. We provide financial services, life-saving preventative healthcare, capacity building education and business training.

TO PROVIDE FINANCIAL INCLUSION, HEALTH AND WELLBEING, AND entrepreneurship AND skilling opportunities for underserved women in Latin America, (continued on schedule o)

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$170,214,281$176,233,535▲ $6,019,254
Cash and Non-Interest-Bearing Accounts$34,772,384$33,816,440▼ $955,944
Investments in Publicly Traded Securities$24,607,314$20,300,238▼ $4,307,076
Land, Buildings, and Equipment, Net$4,196,906$4,219,497▲ $22,591
Savings and Temporary Cash Investments$0$3,803,847▲ $3,803,847
Prepaid Expenses and Deferred Charges$2,553,748$3,538,851▲ $985,103
Intangible Assets$1,865,183$1,753,232▼ $111,951
Investments Program Related$944,305$1,098,106▲ $153,801
Accounts Receivable$738,040$1,080,939▲ $342,899
Pledges and Grants Receivable$45,788$63,785▲ $17,997
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$248,534,379$255,520,518▲ $6,986,139
Other Assets Total$8,596,430$9,612,048▲ $1,015,618
Liabilities
Mortgage Notes Payable Secured by Investment Property$177,505,656$176,123,966▼ $1,381,690
Other Liabilities$12,141,253$17,037,923▲ $4,896,670
Accounts Payable and Accrued Expenses$9,504,256$9,571,023▲ $66,767
Deferred Revenue$4,746,907$3,670,196▼ $1,076,711
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$203,898,072$206,403,108▲ $2,505,036
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$41,724,708$40,145,505▼ $1,579,203
Net Assets With Donor Restrictions$2,911,599$8,971,905▲ $6,060,306
Total Net Assets Fund Balance$44,636,307$49,117,410▲ $4,481,103
Total Liabilities and Net Assets / Fund Balance$248,534,379$255,520,518▲ $6,986,139

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,728,275$8,144,213$9,872,488
Buildings$1,615,162$483,623$2,098,785
Land$658,133-$658,133
Leasehold Improvements$217,927$256,884$474,811

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$150,948-▲ $1,661$1,661$150,948
2021$150,948-▲ $1,937$1,937$150,948
2020$150,948-▲ $8,434$8,434$150,948
2019$150,948-▲ $5,015$5,015$150,948
2018$150,948-▲ $5,704$5,704$150,948
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Carmen CorreaPresident & CEO (as of 1/22)FT$291,832$79,899$371,731
Maria CavalcantiFormer President & CEO-$204,107$217,607$217,607
Rolando SchmidtChief Financial OfficerFT$157,000$34,815$191,815
Mauricio ViscarraGeneral ManagerFT$154,579$31,109$185,688
Alexandra Blanco SejasGeneral counselFT$132,019$38,816$170,835
DiGeronimo Lelio THRU 922Chief Innovation & Tech. OFF.FT$104,160$66,666$170,826
Maria Liliana Mor GaviriaDirector of p'ship & developmentFT$139,992$12,694$152,686
Norma SeguraInternational ControllerFT$141,632$4,247$145,879
Maria Cruz PemanChief Human Resources OfficerFT$126,375$7,665$134,040
Daniela S ColaciMember/consultant-$12,000-$12,000

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Global Business Services SaIt/hr/legal Consult.ECHEVARRIARZA 3535 APTO 1504, Montevideo, 0, Uy$1,499,250
Oscar Fernando Germn Trujillo TejaSecurityCALLE TOMASA MURILLO NO 77 C/8, Achumani, LA PAZ, Bl$426,260
Runay SaSoftware ConsultingCERRITO 517 OFICINA 603, Montevideo, 0, Uy$262,200
Telecel SaCommunication Svcs.CALLE BELISARIO SALINAS NO 470, Plaza Abaroa, SANTA CRUZ, Bl$215,900
Accenture LimitadaAccounting & FinancePASEO DE TAMARINDOS 90, Ciudad De Mxico, BOSQUES DE LAS LO, Mx$211,976
Revenue and Support

Revenue Composition

Contributions and Grants
$11,176,473
Program Service Revenue
$60,206,034
Investment Income
$1,802,178
Other Revenue
$606,645
All Other Contributions
$11,046,473
Change in Net Assets
$14,769,111

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded2$52,129Market Quotation
Total Noncash Contributions2$52,129-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$35,486,202
Salaries, Compensation, and Employee Benefits$21,460,504
Grants and Similar Amounts Paid$2,075,513
Total Fundraising Expense$1,077,662
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$11,558,342$1,448,331$647,039$13,653,712
Interest$11,059,094--$11,059,094
Fees for Services Other$5,435,886$656,962$67,791$6,160,639
Other Employee Benefits$4,249,998$116,900$10,632$4,377,530
Occupancy$3,016,186$169,547$3,908$3,189,641
Depreciation Depletion$2,184,799$381,141$4,300$2,570,240
Pension Plan Contributions$1,862,547$220,644$44,291$2,127,482
All Other Expenses$1,625,113$306,606$104,987$2,036,706
Grants to Domestic Orgs$1,166,784--$1,166,784
Current Officers, Directors, Trustees, and Key Employees$927,336$93,719$36,838$1,057,893
Office Expenses$910,137$83,003$21,126$1,014,266
Foreign Grants$908,729--$908,729
Travel$683,160$42,683$50,808$776,651
Advertising$542,237$116,628$77,636$736,501
Insurance$494,775$22,741$180$517,696
Fees for Services Legal-$326,282-$326,282
Fees for Services Accounting-$293,420-$293,420
Comp Disqual Persons$190,752$19,278$7,577$217,607
Other Expenses$62,744$1,272-$64,016
Payroll Taxes$23,008$2,723$549$26,280
Total Functional Expenses$53,511,779$4,432,778$1,077,662$59,022,219
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wasi Social Innovation IncNew York, NY501(c)(3)General Support$1,150,000

International Summary

Offices
61
Employees
1,123
Spending
$39,114,984

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AmericaProgram ServicesFinancial Services52824$27,928,172
Central America and the CaribbeanProgram ServicesFinancial Services9299$10,278,083
North AmericaGrantmaking---$795,729
South AmericaGrantmaking---$113,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Payable$9,485,232
Foreign Tax Liability$3,258,712
Operating Lease Liabilities$2,634,867
Other Liabilities$1,659,112
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 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
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 B, LINE 11B:

Form 990 was prepared by a national accounting firm in conjunction with the organization's financial department. The form 990 was reviewed in detail by management and audit committee. After review, a copy of the final form 990 was provided to the full board of directors prior to filing with the internal revenue service.

FORM 990, PART VI, SECTION B, LINE 12C:

In all employment contracts, we include a conflict of interest statement and disclosure form. Furthermore, our conflict of interest policy is covered in our on-boarding policy and is part of our new-hire orientation at all levels of the organization. In addition to this, the board of directors completes a conflict of interest form annually. Should a conflict of interest arise, our procedures call for contacting our general counsel and ceo and, together with h.r., we meet with the person in question to resolve any issues promptly and satisfactorily.

FORM 990, PART VI, SECTION B, LINES 15A AND 15B:

The board of directors is responsible for the performance evaluation of the ceo and has the responsibility to review the ceo compensation level against market data for similar positions at similar organizations. If it is determined that an increase in compensation is appropriate for the ceo, the chair of the board directs the director of h.r. And the cfo in writing to make the necessary adjustments to the ceo's compensation. For key employees of the organization and other officers, an evaluation is performed based on each individual's performance and the achievement of the goals of the organization (measured through an annual performance review process). Individual performance is evaluated and communicated in writing the retention value of keeping a key employee. Any adjustment to compensation is approved by the ceo and documented.

FORM 990, PART VI, SECTION C, LINE 19:

The organization's governing documents, conflict of interest policy and financial statements are made available to interested parties upon request, subject to approval by pro mujer.

Filing and Contact Details

Filer

Filer Name
Pro Mujer Inc
EIN
98-0115409
In Care Of
% NORMA SEGURA
Phone
6466267000
Address
515 MADISON AVENUE 8TH FLOOR, NEW YORK, NY 10022

Signing Officer

Name
Carmen Correa
Title
President & CEO
Phone
6466267000
Signed
2023-09-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carmen Correa
Formed
1990
Legal Domicile
Dc
Voting Board Members
15
Independent Board Members
14
Employees
6
Volunteers
27

Preparer

Firm
Bdo USA
Address
100 PARK AVENUE, NEW YORK, NY 10017-5001
Preparer
Paul Hammerschmidt
Phone
2128858000
Supplemental Narrative

Additional Explanations

FORM 990, DECONSOLIDATION OF AUDITED FINANCIAL STATEMENTS:

For 2022, the following entities have been consolidated on the audited financial statements in accordance with u.s. Gaap, however for form 990 purposes have been deconsolidated: - wasi social innovation, inc. And its related entities - pro mujer mexico apoyo, a.c. (pro mujer - mexico ngo) - asociacin pro mujer de mxico, s.a. De c.v., sofom, enr (pro mujer - mexico) wasi social innovation, inc. Is a 501(c)(3), which files its own federal form 990, and as such have been deconsolidated on the form 990. Pro mujer - mexico ngo is a foreign-recognized, not-for-profit in mexico and as such have been deconsolidated on the form 990. Pro mujer - mexico is a foreign-recognized corporation in mexico and as such have been deconsolidated on the form 990.

FORM 990, PART I, LINE 1 (CONTINUATION):

creating sustainable economic opportunities for these women, their families and their communities.

FORM 990, PART I, LINES 5 & 15, PART V, LINE 2A & PART IX, LINES 5-10:

The total salaries reported on form 990 on part i, line 15 and part ix, lines 5-10 includes compensation of both u.s. And foreign employees. However, part i, line 5 and part v, line 2a only report the total number of u.s. Employees. In addition to the u.s. Employees, pro mujer also employs approximately 2,000 foreign employees.

FORM 990, PART III, LINES 4A-4C:

PRO MUJER EMPLOYED NEARLY 1,258 EMPLOYEES WORKING IN LATIN AMERICA IN 2022, 64% WERE WOMEN. AS OF DECEMBER 31, 2022, PRO MUJER'S COUNTRIES OF OPERATION AND NUMBER OF BENEFICIARIES ARE: * ARGENTINA: 17,339 BENEFICIARIES * BOLIVIA: 130,691 BENEFICIARIES * MXICO: 12,466 BENEFICIARIES * NICARAGUA: 42,376 BENEFICIARIES * GUATEMALA: 803 BENEFICIARIES In 2022, Pro Mujer's impact spanned Latin America through local programs and service delivery, digital initiatives, partnerships, investments, and generous donations. Pro Mujer's women-centered, innovative programs focused on financial and digital inclusion, impact and gender lens investing, health and well-being, entrepreneurship and skill building opportunities, helping women start and grow businesses, lead healthier lives, and reach their full potential. IN 2022, PRO MUJER PROVIDED: - $324 MILLION IN FINANCIAL SERVICE PRODUCTS, - 400,000 PRIMARY HEALTH AND WELL-BEING SERVICES AND PREVENTIVE HEALTH EDUCATION ACTIVITIES, AND - 220,000 SKILL BUILDING OPPORTUNITIES FOR WOMEN -- PRO MUJER STEWARDED RESOURCES WISELY: MORE THAN 88% OF EVERY DOLLAR DONATED WENT TO PROGRAMS TO SERVE-LOW INCOME WOMEN. 2% SUPPORTED FUNDRAISING AND 10% SUPPORTED MANAGEMENT AND ADMINISTRATION.

FORM 990, PART XI, LINE 9:

Foreign currency translation adjustment...................$ (2,225,520.) change in investment equity...............................$ (230,525.) investment in equity......................................$ (1,541,635.) bad bebt for uncollectible pledges........................$ (9,487,046.) currency translation adjustment...........................$ 3,196,718. --------------- total.....................................................$ 10,288,008.

Form 990 Part IX Line 11G

Description:other professional fees total fees:6160639

Financial Statement Notes

PART V, LINE 4:

Contributions to the endowment fund are to remain in-perpetuity. Investment income generated by the invested endowment fund may be used to support general operations.

PART X, LINE 2:

In accordance with U.S. GAAP, an organization must recognize a tax liability associated with tax positions taken for tax return purposes when it is more likely than not that the position will not be sustained upon examination by a taxing authority. Pro Mujer, Inc does not believe it has taken any material uncertain tax positions and, accordingly, it has not recorded any liability for unrecognized tax benefits. For the year ended December 31, 2022, there were no interest or penalties recorded or included in the accompanying consolidated statements of activities.

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IRS990/Desc0FINANCIAL SERVICES - Since 1990, Pro Mujer has promoted financial inclusion among women who lack access to traditional financial institutions. Services include savings, loans, and insurance, with a focus on new products and knowledge sharing in gender and impact investing. To date, Pro Mujer has disbursed over $4.4 billion dollars in small loans and investment to women in Latin America. (SEE SCHEDULE O)
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President & CEO (as of 1/22)
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IRS990/Form990PartVIISectionAGrp/TitleTxt3GENERAL MANAGER
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$272$233$39.2$66.7$68.8$2.14
2023Detailed filing. Detailed filing data is available for this year.$270$230$40.0$75.1$73.4$1.76
2022Detailed filing. Detailed filing data is available for this year.$256$206$49.1$73.8$59.0$14.8
2021Detailed filing. Detailed filing data is available for this year.$249$204$44.6$54.4$50.9$3.48
2020Detailed filing. Detailed filing data is available for this year.$221$181$40.8$46.5$46.0$0.53
2019Detailed filing. Detailed filing data is available for this year.$160$118$42.2$50.1$54.1$3.97
2018Detailed filing. Detailed filing data is available for this year.$156$104$52.1$52.9$56.7$3.88
2017Detailed filing. Detailed filing data is available for this year.$168$109$59.0$58.3$55.1$3.23
2016Summary only. Only limited summary data is available for this year.$158$107$51.0$51.8$51.9$0.08
2015Detailed filing. Detailed filing data is available for this year.$140$89.0$51.5$48.3$52.4$4.14
2014Detailed filing. Detailed filing data is available for this year.$156$101$55.4$55.0$54.7$0.32
2013Detailed filing. Detailed filing data is available for this year.$153$98.0$54.9$53.1$52.1$1.01
2012Summary only. Only limited summary data is available for this year.$165$107$58.6$61.3$51.7$9.60
2011Summary only. Only limited summary data is available for this year.$130$81.1$49.0$47.8$38.8$8.95
2010Summary only. Only limited summary data is available for this year.$88.6$48.6$40.0$31.6$28.0$3.59