Overview
What is Finca International Inc?
Finca International Inc is a Washington, D.C.-based nonprofit organization dedicated to financial inclusion. They believe that over 1.7 billion adults worldwide lack access to essential financial products and services, and their focus is on changing that through responsible and sustainable means. The organization is the founder and majority owner of Finca Impact Finance (FIF), a network of 15 community-based micro-finance institutions and banks. FIF provides various financial services to underprivileged clients, including small group loans for micro-entrepreneurs, loans for growing small businesses, agricultural loans, savings accounts, insurance, money transfers, and energy loans. FIF reported disbursing over $1.01 billion in loans and having an average of 3.46 million individuals saving regularly in 2022. They aim to alleviate poverty by helping people build assets, create jobs, and raise their standard of living. Finca International and FIF employ a total of 36 individuals.
Official website here: www.finca.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
FINCA International Inc has received a perfect score from Charity Navigator, reflecting its strong accountability and financial practices. The organization boasts a high percentage of independent board members and has implemented rigorous financial oversight measures. Its program expenses are substantial, indicating a commitment to its mission of providing micro-loans, with an impressive fundraising efficiency ratio. The organization’s investment in leadership development and community feedback mechanisms further solidifies its operational strength.
User reviews from Great Nonprofits consistently highlight the transformative impact FINCA has on the lives of women and communities in developing countries. Many donors express pride in their contributions, noting that FINCA empowers individuals to achieve financial independence through small loans. The feedback indicates that the microfinance model not only improves economic conditions but also fosters social change, particularly in terms of gender equality and community resilience.
However, some reviews raise concerns about administrative costs and compensation for leadership roles, suggesting that such expenses may detract from the funds allocated to programs. Despite these criticisms, the majority of users remain supportive and optimistic about FINCA's mission, appreciating its focus on sustainable development and the empowerment of marginalized populations. Overall, the organization is viewed as a reputable entity making a significant difference in the global fight against poverty.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Finca International Inc legitimate?
Finca International Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Finca International Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,487,507
Professional Fundraising Fees: $10,324
Other Salaries and Wages: $6,384,723
For more financial information, click here
Official website here: www.finca.org
What is the mission statement of Finca International Inc?
Finca International Inc is dedicated to promoting the economic and social well-being of low-income individuals, families, and groups worldwide. They achieve this by providing financial assistance, loans, savings accounts, and other opportunities to help people build assets, create jobs, and raise their standard of living. The organization believes that access to basic financial services can bridge the economic gap and foster economic sustainability and self-reliance among underprivileged populations. Finca International is committed to economic opportunity and justice for all, and it advances financial inclusion through a network of micro-finance institutions and banks that offer responsible and impactful financial services to underprivileged clients. These services include loans for micro-entrepreneurs, small businesses, and farmers, savings accounts, insurance, money transfers, and energy loans. In 2022, the network reported over $1 billion in loans disbursed, with an average of 3.5 million individuals saving regularly. Women clients represented nearly 40% of the total clients.
Official website here: www.finca.org
Who is the CEO of Finca International Inc?
Andree Simon is the Principal Officer of Finca International Inc. The CEO's salary of Finca International Inc is $1,405,949 and their total compensation is $1,844,712.
Official website here: www.finca.org
What is the revenue of Finca International Inc?
Finca International Inc's revenue in 2022 was $21,106,368.
Official website here: www.finca.org
Who are the executives of Finca International Inc and what are their salaries?
The average compensation at Finca International Inc during 2022 was $246,451. There are 36 employees and 13 volunteers at Finca International Inc.
Here are 24 key members and their salaries (Finca International Inc's CEO's salary is $1,405,949 and their total compensation is $1,844,712):
- Compensation: $1,405,949
- Related: $0
- Other: $438,763
- Compensation: $51,423
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- Other: $37,209
- Compensation: $72,943
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- Compensation: $186,198
- Related: $0
- Other: $15,683
- Compensation: $245,453
- Related: $0
- Other: $33,886
- Compensation: $238,100
- Related: $0
- Other: $4,762
- Compensation: $207,066
- Related: $0
- Other: $22,822
- Compensation: $197,194
- Related: $0
- Other: $24,837
- Compensation: $170,291
- Related: $0
- Other: $28,842
- Compensation: $136,918
- Related: $0
- Other: $53,447
Official website here: www.finca.org
Where can I find the form 990 for Finca International Inc?
Finca International Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.finca.org
Learn more at the official website: www.finca.org
Mission Statement of Finca International Inc
Finca International Inc, a leading organization in promoting economic and social well-being for low-income individuals and groups around the world, is on a mission to alleviate poverty by helping people build assets, create jobs, and raise their standard of living. The organization firmly believes that access to basic financial services can bridge the economic gap and foster economic sustainability and self-reliance among the underprivileged population.
Through its innovative, responsible, and impactful financial services, Finca International Inc, the founder and majority owner of Finca Impact Finance (FIF), reaches out to nearly 1.7 billion financially excluded adults worldwide. FIF's network of 15 community-based micro-finance institutions and banks amplifies financial inclusion by providing a range of services, including village banking and small group loans, individual loans, agricultural loans, savings accounts, insurance, money transfers, and energy loans.
FIF reported over $1,013,600,000 in loans disbursed and an average of 3,462,775 individuals saving on a regular basis in 2022. Women clients represented 39% of the clients throughout the FIF network. By offering these financial services, Finca International Inc aims to provide economic opportunity and justice for all and contribute to the advancement of financial inclusion.
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Impact
October, 2024
Finca International Inc plays a crucial role in advancing financial inclusion and alleviating poverty globally. By addressing the needs of nearly 1.7 billion adults who lack access to affordable financial products and services, it empowers low-income individuals and micro-entrepreneurs to build assets, create jobs, and elevate their standard of living.
Through its subsidiary, Finca Impact Finance (FIF), the organization operates a network of community-based micro-finance institutions and banks. This network offers a variety of financial services tailored to the specific needs of underserved populations. Services such as village banking, small group loans, individual business loans, and savings accounts foster economic sustainability and enhance self-reliance among clients. Additionally, FIF provides targeted loans for agro-businesses, ensuring that individuals can acquire the necessary resources like seeds, fertilizer, and equipment.
In 2022, FIF disbursed over $1 billion in loans and reported that approximately 3.5 million individuals were saving regularly. The significant involvement of women, constituting 39% of clients, reflects the organization's commitment to promoting gender equity in economic opportunities. With beneficiaries spanning multiple countries, including the Democratic Republic of Congo, Uganda, and Pakistan, Finca International has a profound and positive impact on the economic and social well-being of low-income individuals and communities around the world. By enhancing access to essential financial services, it not only bridges the economic divide but also contributes to the overall prosperity and resilience of vulnerable populations.
This information is meant to be a general summary of Finca International Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $109,178
- Program Service Revenue: $1,667,513
- Gross Receipts: $22,827,030
Assets and Liabilities:
- Total Assets: $202,859,661
- Total Liabilities: $57,515,434
- Net Assets: $145,344,227
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BRANCH REVENUE-KOSOVO
Revenue
$12,447,579
FINCA VENTURES INTERES
Revenue
$1,395,438
MANAGEMENT FEES
Revenue
$226,221
OTHER PROGRAM SERVICES
Revenue
$201,812
FINCA IMPACT FINANCE
Revenue
-$12,603,537
Organization Details
Founding Year
1984
Phone
(202) 682-1510Principal Officer
Andree Simon
Main Address
1201 15TH STREET NW 8TH FLOOR, WASHINGTON, DC, 20005
Website
www.finca.orgNTEE Category
Code: Q123 - International
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