Overview
What is Kiva Microfunds?
Kiva Microfunds is a nonprofit organization based in San Francisco, California. They specialize in expanding financial access for underserved communities worldwide by facilitating global microloans through an online platform. Kiva partners with over 220 microfinance institutions and other socially-minded organizations in 73 countries. These partners are responsible for selecting, vetting, and administering loans to borrowers seeking funding. Kiva's online platform connects these borrowers with over 2.1 million individuals who have contributed loan funds via the internet. In addition to microloans, Kiva facilitates direct loans to individuals in the United States and manages impact investment funds. Established entities like Kiva-DAF, Kiva Impact Funds, Kiva Capital Management, California Rebuilding Fund, and Small Business Resilience Fund were created to support various initiatives, including blockchain-related projects for global financial inclusion.
Official website here: www.kiva.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%
Kiva Microfunds has achieved a Four-Star out of Four Star rating from Charity Navigator, indicating a strong commitment to accountability and financial transparency. The charity scored particularly well in areas of culture and community, achieving a perfect score of 100. This suggests that Kiva fosters a positive environment for both borrowers and lenders, encouraging engagement and support through its platform. Their financial oversight practices are solid, with a program expense ratio of 75.84%, indicating that a significant portion of their funds is directed towards their mission.
User feedback consistently highlights the transformative impact Kiva has on underserved communities by providing access to capital that many would otherwise lack. Reviewers appreciate the ability to choose specific borrowers and see the positive outcomes of their loans. Many feel a personal connection to the borrowers, finding it rewarding to witness the direct effects of their contributions. The ease of relending repaid loans is also frequently mentioned as a feature that enhances the lending experience.
However, some limitations have been noted, particularly concerning the interest rates charged by local microfinance partners. Critics argue that these rates can be excessively high, which undermines the intended benefits of micro-lending. Additionally, there are concerns about Kiva's operational budget and the proportion of funds that go towards administrative costs. Despite these criticisms, many users continue to support Kiva, believing that the overall mission and impact on individual lives outweigh these concerns.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Kiva Microfunds legitimate?
Kiva Microfunds is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kiva Microfunds 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: $2,899,440
Professional Fundraising Fees: $0
Other Salaries and Wages: $11,364,462
For more financial information, click here
Official website here: www.kiva.org
What is the mission statement of Kiva Microfunds?
Kiva Microfunds is a non-profit organization committed to expanding financial access for underprivileged communities worldwide. It achieves this mission by providing an online platform that facilitates microloans, partnering with 223 active global microfinance institutions, and managing impact investment funds. By enabling individuals to contribute loan funds via the internet, Kiva connects borrowers in need with potential lenders. Kiva's online platform also supports direct loans to individuals in the United States. Furthermore, Kiva has established various subsidiaries, such as Kiva Capital Management, to manage impact investment funds and provide financial support to small businesses affected by COVID-19. Kiva's blockchain-related work, led by Jurnus LLC, is dedicated to promoting global financial inclusion.
Official website here: www.kiva.org
Who is the CEO of Kiva Microfunds?
Liz Ray is the Board Of Director of Kiva Microfunds. The CEO's salary of Kiva Microfunds is $0 and their total compensation is $0.
Official website here: www.kiva.org
What is the revenue of Kiva Microfunds?
Kiva Microfunds's revenue in 2023 was $34,727,565.
Official website here: www.kiva.org
Who are the executives of Kiva Microfunds and what are their salaries?
The average compensation at Kiva Microfunds during 2023 was $83,905. There are 170 employees and 465 volunteers at Kiva Microfunds.
Here are 24 key members and their salaries (Kiva Microfunds's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $144,000
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $424,238
- Related: $0
- Other: $12,838
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $414,658
- Related: $0
- Other: $12,838
- Compensation: $390,342
- Related: $0
- Other: $12,838
- Compensation: $267,550
- Related: $0
- Other: $10,338
- Compensation: $242,824
- Related: $0
- Other: $12,838
- Compensation: $200,253
- Related: $0
- Other: $12,838
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $242,955
- Related: $0
- Other: $12,838
- Compensation: $176,102
- Related: $0
- Other: $9,392
- Compensation: $372,888
- Related: $0
- Other: $12,838
- Compensation: $299,150
- Related: $0
- Other: $12,838
- Compensation: $248,171
- Related: $0
- Other: $10,338
- Compensation: $221,758
- Related: $0
- Other: $12,838
- Compensation: $215,315
- Related: $0
- Other: $12,838
- Compensation: $210,684
- Related: $0
- Other: $12,838
- Compensation: $302,142
- Related: $0
- Other: $6,808
- Compensation: $135,172
- Related: $0
- Other: $5,946
Official website here: www.kiva.org
Where can I find the form 990 for Kiva Microfunds?
Kiva Microfunds's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.kiva.org
Learn more at the official website: www.kiva.org
Mission Statement of Kiva Microfunds
Kiva Microfunds, a non-profit organization, strives to expand financial access for underprivileged communities worldwide. It achieves this mission through an online platform that facilitates global microloans and the management of impact investment funds. By partnering with 223 active microfinance institutions and socially-minded organizations and enterprises in 73 countries, Kiva is able to connect borrowers in need of micro-loans with over 2.1 million individuals who wish to contribute funds via the internet. In addition to these partnerships, Kiva also facilitates direct loans to individuals in the United States.
Founded in 2013, Kiva-DAF, LLC and Kiva Impact Funds LLC were established to hold donor-advised fund accounts and facilitate microloans made with capital from the Overseas Private Investment Corporation, respectively. In 2019, Kiva Capital Management was created to manage impact investment funds as an exempt reporting advisor. Furthermore, California Rebuilding Fund LLC and Small Business Resilience Fund LLC were initiated in 2020 to provide support to small businesses impacted by COVID-19 in California and international locations. Lastly, Jurnus LLC was established in late 2020 to house Kiva's blockchain-related work in support of global financial inclusion.
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Impact
October, 2024
Kiva Microfunds significantly impacts underserved communities by expanding financial access through its innovative online platform that connects borrowers with microloans. With partnerships spanning 73 countries, Kiva collaborates with 223 active microfinance institutions and other socially-minded organizations to identify and vet borrowers, ensuring that funds are directed to those who need them most.
To date, Kiva has engaged over 2.1 million individuals who contribute loan funds, fostering a global community of lenders and borrowers. This collaborative model not only empowers individuals to achieve their financial goals but also promotes economic development across diverse regions, including direct support for small businesses impacted by COVID-19 through specific initiatives like the California Rebuilding Fund.
Additionally, Kiva is pioneering efforts in financial inclusion with its blockchain-based digital ID platform and various impact investment funds, including the Kiva Refugee Investment Fund. By addressing financial barriers and facilitating access to capital, Kiva plays a crucial role in driving social and economic empowerment worldwide.
This information is meant to be a general summary of Kiva Microfunds. 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 2023.
- Investment Income: $4,083,220
- Program Service Revenue: $1,112,794
- Gross Receipts: $34,727,565
Assets and Liabilities:
- Total Assets: $238,841,357
- Total Liabilities: $208,098,900
- Net Assets: $30,742,457
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACT SERVICES - INVEST FOR WO
Revenue
$1,014,981
MANAGEMENT FEE REVENUE
Revenue
$97,320
PHILANTHROPIC FEE FOR SERVICE
Revenue
$493
Organization Details
Founding Year
2005
Phone
(415) 358-7500Principal Officer
Liz Ray
Main Address
986 MISSION STREET STE 400, SAN FRANCISCO, CA, 94103
Website
www.kiva.orgNTEE Category
Code: Q20 - International
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