UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND (EIN 13-3786524)
- Tax period
- 2022-10-01 to 2023-09-30
- Filed
- 2024-08-09
- IRS object ID
- 202442229349300639
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule F
- Schedule J
- Schedule L
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-08-09T12:21:51-05:00 | ReturnTs |
| Tax Period End | 2023-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 135565207 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KPMG LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8350 BROAD ST SUITE 900 | AddressLine1Txt |
| City | MCLEAN | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 22102 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 133786524 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | UKRA | BusinessNameControlTxt |
| Phone | 3129397003 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 175 WEST JACKSON BLVD STE 1640 | AddressLine1Txt |
| City | CHICAGO | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60604 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JAROSLAWA Z JOHNSON | PersonNm |
| Person Title | PRESIDENT & CEO | PersonTitleTxt |
| Phone | 3129397003 | PhoneNum |
| Signature | 2024-08-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | BRIAN KEARNS | PreparerPersonNm |
| PTIN | P02061479 | PTIN |
| Phone | 7032868399 | PhoneNum |
| Preparation | 2024-07-24 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2024-08-08 14:25:15Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Change | Yes (X) | NameChangeInd |
| Principal Officer | JAROSLAWA Z JOHNSON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 175 WEST JACKSON BLVD STE 1640 | AddressLine1Txt |
| City | CHICAGO | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60604 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $136,706,964 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.UMAEF.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1994 | FormationYr |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Activity Or Mission | UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND WAS CREATED AND FUNDED BY THE US (SEE SCHEDULE O) | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 6 | VotingMembersIndependentCnt |
| Total Employee | 2 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $134,380,106 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $40,031 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $2,277,019 | CYProgramServiceRevenueAmt |
| PY Investment Income | -$1,013,093 | PYInvestmentIncomeAmt |
| CY Investment Income | -$2,192,125 | CYInvestmentIncomeAmt |
| PY Other Revenue | $36,415 | PYOtherRevenueAmt |
| CY Other Revenue | $36,409 | CYOtherRevenueAmt |
| PY Total Revenue | -$936,647 | PYTotalRevenueAmt |
| CY Total Revenue | $134,501,409 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,742,325 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $3,242,620 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,982,220 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,470,706 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,750,375 | PYOtherExpensesAmt |
| CY Other Expenses | $2,059,216 | CYOtherExpensesAmt |
| PY Total Expenses | $5,474,920 | PYTotalExpensesAmt |
| CY Total Expenses | $7,772,542 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$6,411,567 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $126,728,867 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $83,458,676 | TotalAssetsBOYAmt |
| Total Assets EOY | $224,102,151 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $416,459 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $537,842 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $83,042,217 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $223,564,309 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE O | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $6,526,144 | ExpenseAmt |
| Grant | $3,242,620 | GrantAmt |
| Revenue | $5,811 | RevenueAmt |
| Desc | USAID APPROVED THE LAUNCH OF A $30 MILLION LEGACY PROGRAM FUNDED BY A PORTION OF THE PROFITS EARNED FROM INVESTMENT ACTIVITIES. THE PROGRAM FOCUSES ON EXPORT PROMOTION, LOCAL ECONOMIC DEVELOPMENT, IMPACT INVESTMENT AND ECONOMIC LEADERSHIP. IN APRIL 2016, USAID APPROVED I) EXPANDING THE LEGACY PROGRAM TO $35 MILLION; II) $5 MILLION EARMARKED FOR DIRECT INVESTMENTS IN SMES, PRIMARILY START-UPS; AND III) A $30 MILLION COMMITMENT TO EMERGING EUROPE GROWTH FUND III, L.P. A FUND LAUNCHED BY HORIZON CAPITAL AND FOCUSED ON PROVIDING FINANCING TO SMES IN UKRAINE AND MOLDOVA. IN JANUARY 2023, UMAEF RECEIVED NEW FUNDING OF $134 MILLION IN FORM OF DEBT SECURITIES AND CASH TRANSFERRED FROM THE U.S. RUSSIA INVESTMENT FUND (TUSRIF) IN PARTNERSHIP WITH THE U.S. CONGRESS VIA USAID. IN SEPTEMBER 2023, USAID APPROVED USING THE TUSRIF FUNDS FOR SUPPORTING THE CREATION, RECOVERY AND EXPANSION OF SME AND ECONOMIC DEVELOPMENT IN UKRAINE AND MOLDOVA IN THE HIGH LEVEL PROGRAMMATIC AREAS AS DIRECT INVESTMENT AND SME DEVELOPMENT, IMPACT INVESTING, LOCAL ECONOMIC DEVELOPMENT, ENTREPRENEURSHIP, EDUCATION AND INNOVATION AND U.VENTURES. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $760,694 | ExpenseAmt |
| Revenue | $65,653 | RevenueAmt |
| Desc | UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND ENCOURAGES, THROUGH LENDING, INVESTMENT, AND TECHNICAL ASSISTANCE, THE CREATION AND EXPANSION OF SMALL AND MEDIUM-SIZED ENTERPRISES IN THE UKRAINE AND MOLDOVA. UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND ALSO FULFILLS ITS MISSION OF ATTRACTING ADDITIONAL PRIVATE CAPITAL TO THE REGION THROUGH ITS USAID-APPROVED ROLE AS A SPONSOR OF THE EMERGING EUROPE GROWTH FUND, LP, A PRIVATE EQUITY FUND LAUNCHED IN 2006 AND EMERGING EUROPE GROWTH FUND III, LP("EEGF III"), A PRIVATE EQUITY FUND LAUNCHED IN 2017.IN AUGUST 2022, BASED ON APPROVAL OF THE BOARD OF DIRECTORS, UMAEF BECAME AN INVESTOR OF HCGF IV, A PRIVATE EQUITY FUND LAUNCHED BY HORIZON CAPITAL, WITH $10 MILLION COMMITMENT AT ITS FIRST CLOSING. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $7,286,838 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | Yes (1) | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | Yes (1) | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | Yes (1) | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 7 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 2 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | Yes (1) | ForeignFinancialAccountInd |
| Foreign Country | UP | ForeignCountryCd |
| Foreign Country | MD | ForeignCountryCd |
| Foreign Country | UK | ForeignCountryCd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 6 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (1) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (1) | WrittenPolicyOrProcedureInd |
| States Where Copy Of Return Is Fld | IL | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NATALIA KOVALENKO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3129397003 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 175 WEST JACKSON BLVD STE 1640 | AddressLine1Txt |
| City | CHICAGO | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60604 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| JAROSLAWA ZELINSKY JOHNSON | ||||||||
| PRESIDENT & CEO | 40.00 | 0.00 | Yes (X) | Yes (X) | $194,878 | $0 | $37,671 | |
| MARTA FARION | ||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JOHN E HERBST | ||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| DENNIS A JOHNSON | ||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JEFFREY C NEAL | ||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| DANIEL F RUNDE | ||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| MARGOT ELLIS | ||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| ELAINE MCCORMACK | ||||||||
| SECRETARY | 36.00 | 0.00 | Yes (X) | $82,976 | $0 | $19,057 | ||
| LENNA KOSZARNY | ||||||||
| EXECUTIVE VICE PRESIDENT | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| NATALIA KOVALENKO | ||||||||
| CFAO & TREASURER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| IRYNA OZYMOK | ||||||||
| LOCAL ECONOMIC DEVLOPMENT DIRECTOR | 40.00 | 0.00 | $102,400 | $0 | $0 | Yes (X) | ||
| ROMAN TYCHKIVSKYY | ||||||||
| STRATEGIC INITATIVES DIRECTOR | 40.00 | 0.00 | $103,700 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $483,954 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $56,728 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 3 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt | Address Line1ContractorAddress/ForeignAddress/AddressLine1Txt | CityContractorAddress/ForeignAddress/CityNm | CountryContractorAddress/ForeignAddress/CountryCd |
|---|---|---|---|---|---|---|---|---|
| HORIZON CAPITAL ASSOCIATES LLC | ||||||||
| 175 W JACKSON BLVD STE 1640 | CHICAGO | IL | 60604 | INVESTMENT/PRG MGMT FEES | $618,028 | |||
| TATARSKY ROMAN PETER IE | ||||||||
| HOTEL SERVICE | $411,029 | FL 4 20 MYKHAILIVSKYI LANE | KYIV | UP | ||||
| PR PARTNERS (EPIC BROKERS) | ||||||||
| 600 E 96TH ST SUITE 400 | INDIANAPOLIS | IN | 46240 | INSURANCE | $125,457 | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $134,380,106 | GovernmentGrantsAmt |
| Noncash Contributions | $131,268,000 | NoncashContributionsAmt |
| Total Contributions | $134,380,106 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INTEREST FROM PRIS | Desc |
| Business | 523000 | BusinessCd |
| Total Revenue Column | $2,277,019 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,277,019 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $2,277,019 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,430 | TotalRevenueColumnAmt |
| Exclusion | $13,430 | ExclusionAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,205,555 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$2,205,555 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$2,205,555 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$2,205,555 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $36,409 | TotalRevenueColumnAmt |
| Exclusion | $36,409 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $36,409 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $134,501,409 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $71,464 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $49,839 | ExclusionAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,242,620 | TotalAmt |
| Program Services | $3,242,620 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $431,316 | TotalAmt |
| Program Services | $352,607 | ProgramServicesAmt |
| Management And General | $78,709 | ManagementAndGeneralAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $863,084 | TotalAmt |
| Program Services | $863,084 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $982,032 | TotalAmt |
| Program Services | $872,237 | ProgramServicesAmt |
| Management And General | $109,795 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $58,910 | TotalAmt |
| Program Services | $58,910 | ProgramServicesAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $52,491 | TotalAmt |
| Program Services | $45,615 | ProgramServicesAmt |
| Management And General | $6,876 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $82,873 | TotalAmt |
| Program Services | $72,017 | ProgramServicesAmt |
| Management And General | $10,856 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $101,045 | TotalAmt |
| Program Services | $88,217 | ProgramServicesAmt |
| Management And General | $12,828 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $311,728 | TotalAmt |
| Program Services | $272,152 | ProgramServicesAmt |
| Management And General | $39,576 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $394 | TotalAmt |
| Program Services | $344 | ProgramServicesAmt |
| Management And General | $50 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $44,819 | TotalAmt |
| Program Services | $33,614 | ProgramServicesAmt |
| Management And General | $11,205 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,015 | TotalAmt |
| Program Services | $9,761 | ProgramServicesAmt |
| Management And General | $3,254 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $131,047 | TotalAmt |
| Program Services | $98,285 | ProgramServicesAmt |
| Management And General | $32,762 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $647,697 | TotalAmt |
| Program Services | $573,497 | ProgramServicesAmt |
| Management And General | $74,200 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,000 | TotalAmt |
| Program Services | $7,500 | ProgramServicesAmt |
| Management And General | $2,500 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $386,609 | TotalAmt |
| Program Services | $386,609 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,260 | TotalAmt |
| Program Services | $5,566 | ProgramServicesAmt |
| Management And General | $1,694 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $132,772 | TotalAmt |
| Program Services | $99,579 | ProgramServicesAmt |
| Management And General | $33,193 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| OTHER OPERATING EXPENSE | $257,193 | $192,895 | $64,298 |
| BANK FEES | $8,838 | $6,629 | $2,209 |
| MEMBERSHIP FEES | $6,724 | $5,044 | $1,680 |
| FIXED ASSET EXPENSES | $75 | $56 | $19 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,772,542 | TotalAmt |
| Program Services | $7,286,838 | ProgramServicesAmt |
| Management And General | $485,704 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,786,406 | BOYAmt |
| EOY | $26,202,040 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $294,247 | BOYAmt |
| EOY | $320,961 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $201,407 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $175,741 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,424 | BOYAmt |
| EOY | $25,666 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $51,730,406 | BOYAmt |
| EOY | $197,147,548 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $626,193 | BOYAmt |
| EOY | $405,936 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $83,458,676 | BOYAmt |
| EOY | $224,102,151 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $194,794 | BOYAmt |
| EOY | $309,209 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $221,665 | BOYAmt |
| EOY | $228,633 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $416,459 | BOYAmt |
| EOY | $537,842 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $83,042,217 | BOYAmt |
| EOY | $223,564,309 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $83,042,217 | BOYAmt |
| EOY | $223,564,309 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $83,458,676 | BOYAmt |
| EOY | $224,102,151 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $126,728,867 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $13,783,347 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $9,878 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus2 Years | $110,020 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year | $134,380,106 | CurrentTaxYearAmt |
| Total | $134,490,126 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $157,330 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $298,507 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $101,428 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $40,031 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $2,277,019 | CurrentTaxYearAmt |
| Total | $2,874,315 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $157,330 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $298,507 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $211,448 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $40,031 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $136,657,125 | CurrentTaxYearAmt |
| Total | $137,364,441 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $137,364,441 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $55 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $55 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $55 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $69 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $13,430 | CurrentTaxYearAmt |
| Total | $13,664 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $55 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $55 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $55 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $69 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $13,430 | CurrentTaxYearAmt |
| Total | $13,664 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $36,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $36,000 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $36,201 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $36,415 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $36,409 | CurrentTaxYearAmt |
| Total | $181,025 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $193,385 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $334,562 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $247,704 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $76,515 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $136,706,964 | CurrentTaxYearAmt |
| Total | $137,559,130 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.99860 | PublicSupportCY509Pct |
| Public Support PY509 | 0.84770 | PublicSupportPY509Pct |
| Investment Income CY | 0.00010 | InvestmentIncomeCYPct |
| Investment Income PY | 0.00020 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART III, SECTION B, LINE 12 | FormAndLineReferenceDesc |
| Explanation | OTHER INCOME OTHER INCOME CONSISTS OF EXPENSE REIMBURSEMENT AND OTHER MISCELLANEOUS INCOME. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,646 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,646 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $196,761 | OtherCostOrOtherBasisAmt |
| Depreciation | $171,095 | DepreciationAmt |
| Book Value | $25,666 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $25,666 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| EQUITY & DEBT SECURITIES | $135,749,922 | F |
| OTHER FINANCIAL ASSETS | $1,410,000 | F |
| EMERGING EUR. GROWTH FUND III | $58,565,687 | F |
| HORIZON CAPITAL GROWTH FUND IV | $1,421,939 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $197,147,548 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| THIRD-PARTY FRAMEWORK AGREEMENT | $228,169 |
| EXIT-BASED INCENTATIVE PAYABLE | $464 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $228,633 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $148,284,756 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $13,783,347 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $13,783,347 | RevenueNotReportedAmt |
| Revenue Subtotal | $134,501,409 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $134,501,409 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $7,762,664 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $7,762,664 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $9,878 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $9,878 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $7,772,542 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | TAX STATUS HISTORICALLY, THE FUND HAS BEEN EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE (THE CODE), AND, BECAUSE IT WAS FUNDED THROUGH U.S. GOVERNMENT GRANTS, HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION AS DEFINED IN SECTION 509(A)(1) OF THE CODE. THE FUND CHANGED ITS CLASSIFICATION DURING 2010 FROM AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(1) TO A PUBLIC CHARITY AS DEFINED IN SECTION 509(A)(2) OF THE CODE, GIVEN THAT ITS INCOME IS NO LONGER DERIVED PRIMARILY FROM GRANTS. THE FUND CONTINUES TO MAINTAIN ITS 501(C)(3) DESIGNATION AND IS EXEMPT FROM PAYMENT OF STATE AND LOCAL INCOME TAXES. THE FUND IS REGISTERED AS A CHARITABLE TRUST IN ILLINOIS. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | DEFERRED EXIT-BASED INCENTIVE 9,878. |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Account Activities Outside US AccountActivitiesOutsideUSGrp (3 entries)
| RegionRegionTxt | OfficesOfficesCnt | EmployeeEmployeeCnt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Specific Services ProvidedSpecificServicesProvidedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|---|---|---|
| RUSSIA AND NEIGHBORING STATES | 2 | 14 | PROGRAM SERVICES | GENERAL OPERATIONS | $3,402,087 |
| RUSSIA AND NEIGHBORING STATES | 0 | 0 | GRANTMAKING/SCHOLARSHIPS | $3,242,640 | |
| RUSSIA AND NEIGHBORING STATES | 0 | 0 | INVESTMENTS | $9,078,211 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 2 | SubtotalOfficesCnt |
| Subtotal Employees | 14 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 2 | TotalOfficeCnt |
| Total Employee | 14 | TotalEmployeeCnt |
| Subtotal Spent | $15,722,938 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $15,722,938 | TotalSpentAmt |
Grants To Org Outside US GrantsToOrgOutsideUSGrp (26 entries)
| RegionRegionTxt | Purpose Of GrantPurposeOfGrantTxt | Cash GrantCashGrantAmt | Manner Of Cash DisbursementMannerOfCashDisbursementTxt | Non Cash AssistanceNonCashAssistanceAmt |
|---|---|---|---|---|
| RUSSIA AND NEIGHBORING STATES | LEADERSHIP ACADEMY | $1,086,490 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | VETERANS REHABILITATION | $500,000 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $252,140 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | INCLUSIVE SPACES AND PROGRAMS | $175,028 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $161,294 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | TECHNICAL ASSISTANCE | $142,750 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | TECHNICAL ASSISTANCE | $134,700 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | ADVISORY ASSISTANCE TO SMES IN LVIV REGION | $87,824 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $76,867 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $75,000 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $70,000 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $62,560 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | SUPPORT FOR ORG OF EVENTS | $59,600 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EXPORT PROMOTION | $50,000 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | TECHNICAL ASSISTANCE | $50,000 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $48,707 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | TECHNICAL ASSISTANCE | $46,066 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $42,921 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | TECHNICAL ASSISTANCE | $20,289 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | TECHNICAL ASSISTANCE | $12,500 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $29,774 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EXPORT PROMOTION | $18,582 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $10,000 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $10,000 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | EDUCATION | $9,082 | WIRE | $0 |
| RUSSIA AND NEIGHBORING STATES | CITIES PROMOTION | $7,951 | WIRE | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 0 | Total501c3OrgCnt |
| Total Other Org | 26 | TotalOtherOrgCnt |
| Transfer To Foreign Corp | Yes (1) | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (1) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | 0 | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (1) | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 2: | GRANT MONITORING REGULAR AND RIGOROUS REVIEW IS CONDUCTED BY UMAEF TO DETERMINE PROGRESS AND ASSESS WHETHER VALUE FOR MONEY HAS BEEN ACHIEVED. THIS INCLUDES REGULAR PROGRESS REPORTS BY THE FUNDING RECIPIENT AGAINST AGREED PERFORMANCE MEASURES OR MILESTONES AND/OR SITE VISITS BY A UMAEF PROGRAM MANAGER. PERFORMANCE MEASURES ARE DEVELOPED IN THE PLANNING PHASE OF A PROJECT AND USED FOR MONITORING DURING THE LIFE CYCLE OF THE GRANT AND TO EVALUATE THE PROJECT AS A WHOLE. RECIPIENT ORGANIZATIONS ARE REQUIRED TO SUBMIT TO UMAEF WRITTEN INTERIM AND/OR FINAL REPORTS TO REFLECT THE PROGRESS ON ACTIVITIES AND PROJECT'S RESULTS AND IMPACT TO DATE. UMAEF SPELLS OUT THE FREQUENCY AND INFORMATION TO BE INCLUDED IN THE REPORT. RECIPIENT ORGANIZATIONS ARE REQUIRED TO MAINTAIN NECESSARY FINANCIAL AND OPERATIONAL RECORDS IN RELATION TO THE OPERATION OF THE PROJECT AND TO SUBMIT TO UMAEF A FINANCIAL REPORT FOR USE OF FUNDS TO DETERMINE EXPENDITURE AGAINST THE FUNDING AGREEMENT. |
| PART I, LINE 3: | FOREIGN ACTIVITIES UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND HAS AN OFFICE IN THE U.S., BUT MOST OF ITS OPERATIONS ARE IN UKRAINE AND MOLDOVA, GIVEN ITS TAX-EXEMPT MISSION. (SEE SCHEDULE O FOR ADDITIONAL DETAILS.) UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND HAS ONE OFFICE IN UKRAINE AND ONE IN MOLDOVA. PART I, LINE 3, COLUMN (F) ACCOUNTING METHOD PROGRAM SERVICE EXPENDITURES INCLUDE DIRECT EXPENSES RECORDED USING THE ACCRUAL BASIS DURING FISCAL YEAR 2023. NO INDIRECT EXPENSE ALLOCATIONS HAVE BEEN MADE. |
| PART III ACCOUNTING METHOD: |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JAROSLAWA ZELINSKY JOHNSON | PersonNm |
| Title | PRESIDENT & CEO | TitleTxt |
| Base Compensation Filing Org | $150,000 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $44,878 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $37,671 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $0 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $232,549 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | A HOUSING ALLOWANCE IS PROVIDED TO THE PRESIDENT/CEO. THIS ALLOWANCE IS TREATED AS TAXABLE COMPENSATION. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| HORIZON CAPITAL ASSOCIATES LLC | |||
| MGMT OVERLAP-SCH O | $525,000 | PROGRAM MGMT | 0 |
| HORIZON CAPITAL ASSOCIATES LLC | |||
| MGMT OVERLAP-SCH O | $102,904 | INVEST MGMT | 0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | BUSINESS TRANSACTIONS WITH INTERESTED PERSONS | FormAndLineReferenceDesc |
| Explanation | SCHEDULE L, PART IV - DURING THE YEAR ENDED SEPTEMBER 30, 2023, LENNA KOSZARNY (OFFICER) WAS OWNER AND/OR OFFICER OF HORIZON CAPITAL ASSOCIATES LLC (HCA), THE INVESTMENT MANAGEMENT COMPANY CONTRACTED TO MANAGE THE UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND PORTFOLIO. AS NOTED IN PART III OF FORM 990, ONE OF UKRAINE-MOLODVA AMERICAN ENTERPRISE FUNDS' KEY ACCOMPLISHMENTS WAS FULFILLING THE DIRECTIVE FROM USAID TO ENABLE THE ESTABLISHMENT OF A PRIVATE SUCCESSOR FUND, EMERGING EUROPE GROWTH FUND LP (EEGF). A NEW PRIVATE INVESTMENT MANAGEMENT COMPANY, HORIZON CAPITAL ASSOCIATES LLC (HCA), WAS FORMED TO SUPPORT EEGF AND UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND. THIS APPROACH FOLLOWED THE PRECEDENT OF USAID-FINANCED ENTERPRISE FUNDS IN CENTRAL AND EASTERN EUROPE, WHICH SUCCESSFULLY ATTRACTED SIGNIFICANT PRIVATE CAPITAL. THE FOUNDING OF EEGF WAS A SIGNIFICANT ACCOMPLISHMENT TOWARDS FULFILLING UKRIANE-MOLODVA AMERICAN ENTERPRISE FUNDS' MISSION. THE INVESTMENT MANAGEMENT AGREEMENT WITH HCA WAS ENTERED INTO BY UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND ON PARI PASSU TERMS AS THE THIRD-PARTY INVESTMENT MANAGEMENT AGREEMENT BETWEEN HCA AND EMERGING EUROPE GROWTH FUND, LP TO ENSURE THAT THE UMAEF-HCA INVESTMENT MANAGEMENT AGREEMENT WAS IN LINE WITH MARKET TERMS. IN AUGUST 2022, THE BOARD OF DIRECTORS APPROVED A COMMITMENT OF $10 MILLION TO HORIZON CAPITAL GROWTH FUND IV, L.P. ("HCGF IV") AT ITS FIRST CLOSING, AT PARI-PASSU TERMS WITH THIRD PARTY INVESTORS, THUS HELPING TO CATALYZE $105 MILLION OF CAPITAL FROM DEVELOPMENT FINANCIAL INSTITUTIONS ("DFIS"). THE FUND ENTERED INTO SUBSCRIPTION DOCUMENTS FOR HCGF IV AS OF SEPTEMBER 26, 2022, THUS COMMITTING $10 MILLION TO HCGF IV IN A FIRST CLOSING TOTALING $125 MILLION. AS OF SEPTEMBER 30, 2023, UMAEF MADE CONTRIBUTIONS TO HCGF IV IN THE AMOUNT OF $1.4 MILLION. HCGF IV HAS BEEN FINALLY CLOSED WITH TOTAL COMMITMENTS OF $328 MILLION.UNDER THE TERMS OF THE GRANT AGREEMENT WITH USAID, UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND IS MANAGED BY A BOARD OF DIRECTORS COMPRISED OF PRIVATE CITIZENS (A MAJORITY OF WHOM MUST BE U.S. CITIZENS), WHO HAVE DEMONSTRATED EXPERIENCE AND EXPERTISE IN THOSE AREAS OF PRIVATE SECTOR DEVELOPMENT IN WHICH THE FUND IS INVOLVED. THE INITIAL MEMBERS WERE ELECTED WITH ADVICE OF THE PRESIDENT OF THE UNITED STATES OR THE PRESIDENT'S DESIGNEE, AND NEW MEMBERS ARE RECOMMENDED BY CURRENT BOARD MEMBERS TO USAID WHO MUST OBTAIN SUBSEQUENT APPROVAL FROM PRESIDENTIAL ADMINISTRATION PRIOR TO THE NEW MEMBERS' COMMENCING BOARD PARTICIPATION. RE-ELECTION OF ANY CURRENT DIRECTOR ALSO REQUIRES APPROVAL FROM BOTH, USAID AND PRESIDENTIAL ADMINISTRATION. FOLLOWING THE FOUNDING OF EEGF, ALL EMPLOYEES OF UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND (EXCEPT THOSE LOCATED IN THE U.S.) BECAME EMPLOYEES OF HCA'S WHOLLY-OWNED SUBSIDIARY, HORIZON CAPITAL ADVISORS, LLC (HCAD), RESULTING IN THE TRANSFER OF EMPLOYEE COMPENSATION, OPERATING AND OTHER EXPENSES FROM UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND TO HCAD. HOWEVER, DURING 2015, AS A RESULT OF THE LAUNCH OF THE LEGACY PROGRAMS AND NEED TO HIRE COMMITTED RESOURCES TO MANAGE THESE PROGRAMS, THE FUND RECOMMENCED HIRING OF EMPLOYEES DIRECTLY, BEGINNING WITH THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, PROGRAM MANAGERS AS WELL AS CERTAIN FULL-TIME SUPPORT PERSONNEL. THE FUND CONTINUES ITS PRACTICE OF NOT HIRING ANY INVESTMENT PERSONNEL AS THE INVESTMENT MANAGEMENT FUNCTION IS DELEGATED TO HCA ON THE BASIS OF THE UMAEF-HCA INVESTMENT MANAGEMENT AGREEMENT. IN FEBRUARY 2015, THE FUND ALSO ENTERED INTO A SHARED SERVICES AGREEMENT WITH HCA, APPROVED BY THE BOARD OF DIRECTORS, TO PROVIDE SUPPORT TO THE FUND IN THE FORM OF ADDITIONAL PROGRAM MANAGEMENT AND ADMINISTRATIVE SERVICES FOR LEGACY PROGRAMS. THIS AGREEMENT PROVIDES THE FUND WITH ACCESS TO A FULL RANGE OF HCAD HR, LEGAL, ADMINISTRATIVE, COMMUNICATIONS, MGMT AND OTHER RESOURCES RATHER THAN EXPEND SIGNIFICANT TIME, COST AND EFFORT TO SET-UP THESE RESOURCES IN-HOUSE. | ExplanationTxt |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $131,268,000 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | MARKET VALUE | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, COLUMN (B): | FormAndLineReferenceDesc |
| Explanation | THIS COLUMN REPRESENTS THE NUMBER OF CONTRIBUTIONS, NOT THE NUMBER OF ITEMS RECEIVED. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (15 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 1 | UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND WAS CREATED AND FUNDED BY THE U.S. CONGRESS, TO INVEST IN AND ATTRACT PRIVATE CAPITAL TO UKRAINE, MOLDOVA, AND BELARUS, TO PROMOTE ENTREPRENEURSHIP AND OPEN MARKETS. |
| FORM 990, PART III, LINE 1 | NAME CHANGE: SUBSEQUENT TO THE YEAR-END, BASED ON THE APPROVAL BY THE BOARD OF DIRECTORS, THE FUND HAS INITIATED THE PROCESS OF CHANGING ITS LEGAL NAME INTO UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND. THIS CHANGE WAS RECORDED IN THE DELAWARE SECRETARY OF STATE'S CERTIFICATE ISSUED IN OCTOBER 2023. THE NEW NAME WILL REFLECT THE FUND'S ACTUAL HISTORICAL AND ONGOING OPERATIONS IN UKRAINE AND MOLDOVA, WHICH IS CONSISTENT WITH THE PRACTICE OF OTHER U.S.-SPONSORED ENTERPRISE FUNDS OF INCLUDING THE NAMES OF THE COUNTRIES WHERE THEY OPERATE IN THE FUND NAME. ORGANIZATION MISSION - THE UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND (THE "FUND") IS A NOT-FOR-PROFIT CORPORATION FORMED PURSUANT TO THE SUPPORT FOR EAST EUROPEAN DEMOCRACY ACT OF 1989 (THE "SEED ACT") AND THE 1992 FREEDOM FOR RUSSIA AND EMERGING EURASIAN DEMOCRACIES AND OPEN MARKETS SUPPORT ACT (THE "FREEDOM SUPPORT ACT"). UMAEF'S PRIMARY PURPOSE IS PROMOTING THE DEVELOPMENT OF THE PRIVATE SECTOR, AND THE POLICIES AND PRACTICES CONDUCIVE TO SUCH DEVELOPMENT, OF THE WESTERN NIS REGION (THE "REGION"), WHICH CONSISTS OF UKRAINE, MOLDOVA AND BELARUS. THE U.S. CONGRESS AUTHORIZED APPROPRIATIONS OF $150 MILLION, WHICH WERE COMMITTED BY THE UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT ("USAID") FOR UMAEF PROGRAM PURPOSES AND ADMINISTRATIVE EXPENDITURES (THE "GRANT"). AMOUNTS RECEIVED FROM USAID WERE CONDITIONED UPON UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUNDS' COMPLIANCE WITH THE REQUIREMENTS OF THE GRANT AGREEMENT WITH USAID AND THE SEED AND FREEDOM SUPPORT ACTS, WHICH IMPOSED CERTAIN U.S. POLICY OBJECTIVES AND REPORTING OBLIGATIONS. UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND IS ENGAGED IN A BROAD PRIVATE INVESTMENT PROGRAM IN THE REGION WHICH, THROUGH EQUITY INVESTMENTS, LOANS, LEASES, TECHNICAL ASSISTANCE AND OTHER MEASURES, EMPHASIZES A COMMITMENT TO SMALL-AND MEDIUM-SIZED PRIVATE BUSINESSES. UMAEF PROVIDES TECHNICAL ASSISTANCE TO COMPANIES IN WHICH IT HAS INVESTED. THROUGH ITS DIRECT ROLE IN INVESTMENTS IN THE REGION'S PRIVATE SECTOR, UKRAINE-MOLDOVA AMERICAN ENTERPRISE SEEKS TO GENERATE PROFITS THAT WILL FURTHER SUPPORT ITS ACTIVITIES AND ATTRACT INVESTMENTS BY OTHERS. AS PART OF ITS INVESTMENT OPERATIONS, UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND MAY OBTAIN REPRESENTATION ON MANAGEMENT AND SUPERVISORY COUNCILS OF INVESTEE COMPANIES. UKARINE-MOLDOVA AMERICAN ENTERPRISE FUNDS' GRANT AGREEMENT WITH USAID STATES THAT THE SUCCESS OF UMAEF WILL BE CHARACTERIZED BY THE EXTENT TO WHICH IT CAUSES OR CONTRIBUTES TO: (1) THE SUCCESSFUL ESTABLISHMENT, OR STRENGTHENING OF, A WIDE ARRAY OF SMALL AND MEDIUM-SIZED FIRMS ACROSS THE DIFFERENT SECTORS OF THE ECONOMIES IN THE UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND REPUBLICS; (2) THE GENERATION OF NEW EMPLOYMENT OPPORTUNITIES IN THE PRIVATE SECTOR OF THE WESTERN NIS REPUBLICS; (3) INVESTMENT BY OTHER PRIVATE COMPANIES IN SECTORS WHERE UMAEF TOOK AN INITIAL LEAD; (4) THE COMPLETION OF A WIDE ARRAY OF TRANSACTIONS THAT DEVELOP AND STRENGTHEN FINANCIAL MARKETS IN THE WESTERN NIS REPUBLICS; (5) DEVELOPMENT BY UMAEF OF A NUMBER OF KEY JOINT VENTURES BETWEEN PRIVATE COMPANIES OF THE U.S. AND THE WESTERN NIS REPUBLICS; AND (6) CONSISTENT WITH UMAEF'S SOUND BUSINESS JUDGMENT, THE CONDUCT OF ACTIVITIES INTENDED TO FURTHER INVESTMENT IN EACH OF THE WESTERN NIS REPUBLICS. ONE OF UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUNDS' KEY ACCOMPLISHMENTS WAS FULFILLING THE DIRECTIVE FROM USAID TO ENABLE THE ESTABLISHMENT OF A PRIVATE SUCCESSOR FUND, EMERGING EUROPE GROWTH FUND LP (EEGF). A NEW PRIVATE INVESTMENT MANAGEMENT COMPANY, HORIZON CAPITAL ASSOCIATES LLC (HCA), WAS FORMED TO SUPPORT EEGF AND UMAEF. THIS APPROACH FOLLOWED THE PRECEDENT OF USAID-FINANCED ENTERPRISE FUNDS IN CENTRAL AND EASTERN EUROPE, WHICH SUCCESSFULLY ATTRACTED SIGNIFICANT PRIVATE CAPITAL. BASED ON USAID AND CONGRESSIONAL APPROVAL, UMAEF'S BOARD OF DIRECTORS COMMITTED $25 MILLION TO EEGF AND APPROVED THE SALE OF CERTAIN INVESTMENTS TO EEGF IN 2006. EEGF NOW FUNCTIONS AS A MID-CAP PRIVATE EQUITY FUND MAKING INVESTMENTS IN UKRAINE, MOLDOVA, AND BELARUS. UMAEF IS A CORNERSTONE LIMITED PARTNER IN EEGF. EEGF HAS INVESTED BETWEEN $5 TO $25 MILLION IN EXPANSION AND BUY-OUT OPPORTUNITIES IN THE FOLLOWING INDUSTRIES: FINANCIAL SERVICES, FAST MOVING CONSUMER GOODS, RETAIL AND INDUSTRIAL GOODS. USAID HAS ALREADY DISTRIBUTED THE FULL GRANT OF $150 MILLION TO UMAEF, WITH THE FINAL TRANCHE RECEIVED IN FISCAL YEAR 2007. ACCORDING TO THE GRANT AGREEMENT, USAID MAY ESTABLISH THE DATE AFTER WHICH UMAEF SHALL COMMENCE THE WINDING UP OF ITS AFFAIRS AND SALE OF ITS ASSETS. UNDER THIS AUTHORITY, USAID ORIGINALLY ESTABLISHED UMAEF'S TERMINATION COMMENCEMENT DATE AS AUGUST 26, 2009. DURING FISCAL YEAR 2009, UMAEF REQUESTED AND WAS GRANTED AN EXTENSION FROM USAID OF THE TERMINATION COMMENCEMENT DATE TO AUGUST 26, 2011. IN JANUARY 2011, USAID FURTHER EXTENDED THIS DATE TO AUGUST 26, 2013 WITH THE CONDITION THAT THE LEGACY PROPOSAL BE PRESENTED TO USAID BY AUGUST 26, 2011. THE LEGACY PROPOSAL SET FORTH UMAEF'S PROPOSAL FOR THE ESTABLISHMENT OF A LEGACY FOUNDATION TO BE FUNDED BY PROCEEDS DERIVED FROM THE SALE OF ASSETS. THE FUND'S PROPOSAL WAS SUBMITTED TO USAID AS REQUIRED, INCLUDING CONFIRMATION THAT AS OF AUGUST 26, 2011, UMAEF WILL NOT MAKE ANY NEW INVESTMENTS OR COMMITMENTS, ALTHOUGH THE FUND MAY MAKE FOLLOW-ON INVESTMENTS IN COMPANIES IN ITS EXISTING PORTFOLIO UNTIL AUGUST 26, 2013. THE REVISED TERMINATION COMMENCEMENT DATE. IN JUNE 2013, USAID ESTABLISHED A TARGET LIQUIDATION DATE OF AUGUST 26, 2016 AS THE DATE BY WHICH THE FUND MUST HAVE COMPLETED THE WIND-UP AND LIQUIDATION OF ALL OF ITS ASSETS. THE GRANT AGREEMENT BETWEEN UMAEF AND USAID WAS AMENDED TO REFLECT THIS TARGET LIQUIDATION DATE OF AUGUST 26, 2016 AND FURTHER STATED THAT THIS DATE MAY ONLY BE EXTENDED WITH THE PRIOR WRITTEN APPROVAL OF USAID. EFFECTIVE JANUARY 28, 2015, USAID APPROVED THE FUND'S PROPOSAL TO CONTINUE THE MISSION OF THE FREEDOM SUPPORT ACT OF 1992 AND THE FOREIGN ASSISTANCE ACT OF 1961, THROUGH THE EXISTING UMAEF STRUCTURE. AS SUCH, THE GRANT AGREEMENT WAS AMENDED TO CHANGE THE TERMINATION COMMENCEMENT DATE FROM AUGUST 26, 2013 TO DECEMBER 31, 2017 AND CHANGE THE TARGET LIQUIDATION DATE FROM AUGUST 26, 2016 TO DECEMBER 31, 2018 TO ALLOW THE FUND TO CARRY OUT THE PROGRAM ACTIVITIES DESCRIBED IN ITS PROPOSAL. THE TLD MAY ONLY BE EXTENDED WITH THE PRIOR WRITTEN APPROVAL OF USAID. THE FUND'S PROPOSAL ENVISIONED A $30 MILLION THREE-YEAR LEGACY PROGRAM FUNDED BY A PORTION OF THE REFLOWS EARNED BY THE FUND FROM ITS INVESTMENT ACTIVITIES. THE GOALS AND OBJECTIVES OF THE LEGACY PROGRAM ARE TO ASSIST UKRAINE AND MOLDOVA WITH FURTHER DEVELOPMENT OF SOUND ECONOMIC POLICIES AND LEADERSHIP DURING THIS CRITICAL TIME IN THEIR RESPECTIVE HISTORIES. BOTH UKRAINE AND MOLDOVA RECENTLY SIGNED DEEP AND COMPREHENSIVE FREE TRADE AGREEMENTS (DCFTA) WITH THE EUROPEAN UNION (EU) AND MUST NOW UNDERTAKE SIGNIFICANT CHANGES TO THEIR ECONOMIC POLICIES AND TO BUILD CADRES OF WELL-TRAINED LEADERS TO FULLY BENEFIT FROM THE DCFTA. THE FOUR PROGRAMS SET FORTH IN THE FUND'S PROPOSAL TO USAID FOCUS ON I) MOBILIZING CAPITAL TO ADDRESS COMPLEX SOCIAL ISSUES (IMPACT INVESTING PROGRAM); II) DEVELOPING INNOVATIVE MARKET-BASED SOLUTIONS LINKING LOCAL GOVERNMENT AND THE BUSINESS COMMUNITY TO IMPROVE THE PROVISION OF SERVICES TO CITIZENS WHILE SUPPORTING THE SME SECTOR (LOCAL ECONOMIC DEVELOPMENT PROGRAM); III) INVESTING IN PEOPLE TO BROADEN AND DEEPEN THE HUMAN CAPACITY NECESSARY TO ADVANCE PRIVATE SECTOR DEVELOPMENT IN UKRAINE AND MOLDOVA (ECONOMIC LEADERSHIP PROGRAM); AND IV) IMPROVING THE ABILITY OF UKRAINIAN EXPORTERS TO ACCESS NEW MARKETS (EXPORT PROMOTION POLICY PROGRAM). EFFECTIVE APRIL 14, 2016, USAID ADDITIONALLY MODIFIED THE GRANT TO CHANGE THE TERMINATION COMMENCEMENT DATE FROM DECEMBER 31, 2017 TO DECEMBER 31, 2022 AND CHANGE THE TARGET LIQUIDATION DATE FROM DECEMBER 31, 2018 TO DECEMBER 31, 2023. THE TARGET LIQUIDATION DATE MAY ONLY BE EXTENDED WITH THE PRIOR WRITTEN APPROVAL OF USAID. THE AMENDED GRANT AGREEMENT ALLOWS THE FUND: I) TO DISBURSE $5 MILLION TO MAKE NEW INVESTMENTS AND COMMITMENTS IN UKRAINE AND MOLDOVA TO ENCOURAGE THE CREATION AND EXPANSION OF SMALL AND MEDIUM ENTERPRISES (SMES); II) TO APPLY AN ADDITIONAL $5 MILLION FOR ITS LEGACY PROGRAMS, THEREBY INCREASING TOTAL ALLOWABLE FROM $30 MILLION TO $35 MILLION; III) TO COMMIT $30 MILLION OF PROGRAM INCOME AS ANCHOR INVESTOR, ON PARI PASSU TERMS WITH PRIVATE INVESTORS, IN THE EMERGING EUROPE GROWTH FUND III, L.P., A U.S.-DOMICILED FUND LAUNCHED BY HORIZON CAPITAL THAT RAISED $200 MILLION AFTER FINAL CLOSING TO PROVIDE LOANS, EQUITY AND FINANCIAL SUPPORT TO SMES IN UKRAINE AND MOLDOVA. |
| FORM 990, PART III, LINE 1 | EFFECTIVE MARCH 23, 2022, USAID ADDITIONALLY MODIFIED THE GRANT TO CHANGE THE TCD FROM DECEMBER 31, 2022 TO DECEMBER 31, 2030 AND CHANGE THE TLD FROM DECEMBER 31, 2023 TO DECEMBER 31, 2031 (GRANT MODIFICATION #25). THE AMENDED GRANT AGREEMENT (I) ENABLED THE FUND TO MAKE NEW INVESTMENTS AND COMMITMENTS AT THE DISCRETION OF ITS BOARD TO ENCOURAGE THE CREATION AND EXPANSION OF SMALL AND MEDIUM ENTERPRISES (SMES) IN UKRAINE AND MOLDOVA; II) FIXED THE BUDGET OF THE FUND'S LEGACY PROGRAMS AT $5 MILLION PER YEAR SUBJECT TO THE AVAILABILITY OF FUNDS. ADDITIONALLY, AS A RESPONSE TO FULL-SCALE RUSSIA'S INVASION TO UKRAINE, USAID AMENDED THE STRUCTURE OF ALLOWABLE EXPENDITURES. IN FEBRUARY 2022, PRIOR TO THE ONSET OF THE FULL-FLEDGED RUSSIA'S INVASION OF UKRAINE, THE FUND IMPLEMENTED ITS BUSINESS CONTINUITY PLAN, INCLUDING SECURING ACCOMMODATION IN WESTERN UKRAINE AND SUPPORTING FUND PERSONNEL AND FAMILY MEMBERS TO RELOCATE TO WESTERN UKRAINE AND THEN TO THE EUROPEAN UNION GIVEN THE HIGH PRIORITY ACCORDED TO THE SAFETY AND SECURITY OF EMPLOYEES AND PARTNERS ON-THE-GROUND IN UKRAINE. BASED ON THE USAID APPROVAL GRANTED BY THE GRANT MODIFICATION #25, UMAEF HAS INCURRED ASSOCIATED RELOCATION COSTS AND PROVIDED ADDITIONAL ASSISTANCE REQUIRED. THE UKRAINIAN LEADERSHIP ACADEMY PROGRAM STAFF AND IMMEDIATE FAMILY MEMBERS AND STUDENTS WERE ALSO RELOCATED TO WESTERN UKRAINE, WITH EXPENSES RELATED TO THEIR RELOCATION ALSO INCURRED BY THE FUND. |
| FORM 990, PART III, LINE 2 | IN FEBRUARY 2015 THE FUND STARTED LEGACY PROGRAMS SPECIFIED BY PROPOSAL THAT ENVISIONED A $30 MILLION THREE-YEAR LEGACY PROGRAM FUNDED BY A PORTION OF THE REFLOWS EARNED BY THE FUND FROM ITS INVESTMENT ACTIVITIES. IN APRIL 2016, AS A RESULT OF A GRANT MODIFICATION, THE FUND WAS ALLOWED TO USE AN ADDITIONAL $5 MILLION FOR LEGACY PROGRAMS, INCREASING TOTAL ALLOWABLE TO $35 MILLION. THE GOALS AND OBJECTIVES OF THE LEGACY PROGRAM ARE TO ASSIST UKRAINE AND MOLDOVA WITH FURTHER DEVELOPMENT OF SOUND ECONOMIC POLICIES AND LEADERSHIP DURING THIS CRITICAL TIME IN THEIR RESPECTIVE HISTORIES. BOTH UKRAINE AND MOLDOVA SIGNED DEEP AND COMPREHENSIVE FREE TRADE AGREEMENTS (DCFTA) WITH THE EUROPEAN UNION (EU) AND MUST NOW UNDERTAKE SIGNIFICANT CHANGES TO THEIR ECONOMIC POLICIES AND TO BUILD CADRES OF WELL-TRAINED LEADERS TO FULLY BENEFIT FROM THE DCFTA. THE FOUR PROGRAMS SET FORTH IN THE FUND'S PROPOSAL TO USAID FOCUS ON: I) MOBILIZING CAPITAL TO ADDRESS COMPLEX SOCIAL ISSUES (IMPACT INVESTING PROGRAM); II) DEVELOPING INNOVATIVE MARKET-BASED SOLUTIONS LINKING LOCAL GOVERNMENT AND THE BUSINESS COMMUNITY TO IMPROVE THE PROVISION OF SERVICES TO CITIZENS WHILE SUPPORTING THE SME SECTOR (LOCAL ECONOMIC DEVELOPMENT PROGRAM); III) INVESTING IN PEOPLE TO BROADEN AND DEEPEN THE HUMAN CAPACITY NECESSARY TO ADVANCE PRIVATE SECTOR DEVELOPMENT IN UKRAINE AND MOLDOVA (ECONOMIC LEADERSHIP PROGRAM); AND IV) IMPROVING THE ABILITY OF UKRAINIAN EXPORTERS TO ACCESS NEW MARKETS (EXPORT PROMOTION POLICY PROGRAM). |
| FORM 990, PART VI, SECTION A, LINE 2 | LENNA KOSZARNY AND NATALIA KOVALENKO HAD A BUSINESS RELATIONSHIP. |
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERS THE CORPORATE MEMBERS OF UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND CONSIST OF THE DIRECTORS WHO ARE U.S. CITIZENS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS HAVE THE RIGHTS TO ELECT AND REMOVE DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 7B | APPROVAL BY MEMBERS USAID HAS THE AUTHORITY TO, AND IN FACT DOES, APPROVE CERTAIN UMAEF'S DECISIONS, INCLUDING THE LONG-TERM EQUITY INCENTIVE PLAN, THE PRIVATIZATION OF HORIZON CAPITAL IN 2006, THE TERMS OF THE HCA INVESTMENT MANAGEMENT AND SHARED SERVICES AGREEMENTS WITH UMAEF, AND THE CONTRIBUTION OF CERTAIN INVESTMENTS TO THE EMERGING EUROPE GROWTH FUND, LP, A REGIONAL PRIVATE EQUITY FUND LAUNCHED IN 2006 AND SALE AT COST OF TWO WAREHOUSED INVESTMENTS TO EEGF III, LP, A REGIONAL PRIVATE EQUITY FUND LAUNCHED IN 2017. USAID CONDUCTS SEMI-ANNUAL REVIEWS OF UMAEF AND REVIEWS MONTHLY REPORTS AND ANNUAL AUDITED FINANCIAL STATEMENTS AND ANNUAL REPORTS SUBMITTED BY UMAEF. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 REVIEW POLICY UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND'S FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH ITS FINANCE STAFF. THE CHIEF FINANCIAL OFFICER (CFO) REVIEWS, EDITS, AND APPROVES THE DRAFT FORM 990 PRIOR TO REVIEW BY THE PRESIDENT/CHIEF EXECUTIVE OFFICER (CEO). ONCE THE CEO COMPLETES REVIEW OF THE DRAFT FORM 990 AND ANY REVISIONS ARE INCORPORATED, THE DRAFT FORM 990 IS DISTRIBUTED TO A SUBCOMMITTEE OF THE BOARD FORMED TO REVIEW AND APPROVE THE FORM 990 ON BEHALF OF THE FULL BOARD OF DIRECTORS. ONCE THEIR COMMENTS ARE INCORPORATED AND THE FORM 990 IS APPROVED, A COPY OF THE FORM 990 THAT WILL BE FILED WITH THE IRS IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS, AS WELL AS EXTERNAL CORPORATE COUNSEL, PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST POLICY OFFICERS ARE APPOINTED ON AN ANNUAL BASIS BY THE BOARD OF DIRECTORS OF UMAEF, AND THE TERMS OF APPOINTMENT INCLUDE COMPLIANCE WITH THE POLICIES AND PROCEDURES OF THE FUND, INCLUDING THE CONFLICT OF INTEREST POLICY. THE GRANT AGREEMENT WITH USAID INCLUDES THE CONFLICT OF INTEREST POLICY AND IDENTIFIES WHICH MATTERS MUST BE DISCUSSED WITH USAID. COMPLIANCE IS MONITORED VIA THE ANNUAL AUDIT PROCESS, CONDUCTED BY AN INDEPENDENT BIG 4 PUBLIC ACCOUNTING FIRM, THROUGH REVIEW OF TRANSACTIONS, INCLUDING RELATED PARTY TRANSACTIONS AND INTERNAL CONTROL PROCEDURES. ANY POTENTIAL CONFLICT WOULD BE REVIEWED AND HANDLED BY THE BOARD OF DIRECTORS AND OUTSIDE LEGAL COUNSEL. IF A CONFLICT WAS RELATED TO A BOARD MEMBER, THEN THAT BOARD MEMBER WOULD BE REQUIRED TO ABSTAIN FROM DISCUSSION AND ABSTAIN FROM VOTING ON THE CONFLICTED MATTER. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND HAS A SPECIAL COMPENSATION STRUCTURE THAT REFLECTS ITS TAX-EXEMPT MISSION. AS NOTED IN PART III OF FORM 990, ONE OF UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUNDS' KEY ACCOMPLISHMENTS WAS FULFILLING THE DIRECTIVE FROM USAID TO ESTABLISH A PRIVATE FOLLOW-ON FUND, EMERGING EUROPE GROWTH FUND LP (EEGF). THIS DIRECTIVE FOLLOWED THE PRECEDENT OF USAID-FINANCED ENTERPRISE FUNDS IN CENTRAL AND EASTERN EUROPE, WHICH SUCCESSFULLY ATTRACTED SIGNIFICANT PRIVATE CAPITAL. AS DESCRIBED IN SCHEDULE O, UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND WAS NEARING ITS WIND-DOWN PHASE, AND THE FOUNDING OF EEGF WAS A SIGNIFICANT ACCOMPLISHMENT TOWARDS UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUNDS' MISSION. A PRIVATE INVESTMENT MANAGEMENT COMPANY, HORIZON CAPITAL ASSOCIATES LLC (HCA), WAS FORMED TO MANAGE THE INVESTMENTS OF EEGF AND UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND. FOLLOWING THE FOUNDING OF EEGF, ALL EMPLOYEES OF UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND (EXCEPT THOSE LOCATED IN THE U.S.) BECAME EMPLOYEES OF HCA'S SUBADVISOR ENTITY, HORIZON CAPITAL ADVISORS, LLC (HCAD), RESULTING IN THE TRANSFER OF EMPLOYEE COMPENSATION, OPERATING AND OTHER EXPENSES FROM UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND TO HCA AND HCAD. ACCORDINGLY UNTIL JANUARY 2015, UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND DID NOT HAVE EMPLOYEES, OTHER THAN AN ADMINISTRATIVE ASSISTANT AND A PART-TIME ACCOUNTANT IN THE U.S.. HOWEVER, DURING FISCAL 2015 THE FUND HAS HIRED CERTAIN EMPLOYEES FOR LEGACY PROGRAMS REALIZATION. BOTH THE FORMATION OF THE HORIZON CAPITAL ENTITIES AND OUTSOURCING OF INVESTMENT MANAGEMENT FUNCTIONS TO HCA WERE APPROVED BY USAID. UMAEF PAYS HCA AN ANNUAL MANAGEMENT FEE, AS DISCLOSED IN SCHEDULE L. THE INVESTMENT MANAGEMENT AGREEMENT WITH HCA WAS APPROVED BY THE BOARD OF DIRECTORS OF UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND, AFTER REVIEW AND APPROVAL OF ITS KEY TERMS, INCLUDING THE MANAGEMENT FEE, BY USAID, WHICH HAD PRIOR EXPERIENCE REVIEWING AND APPROVING SIMILAR INVESTMENT MANAGEMENT AGREEMENTS ENTERED INTO BY OTHER ENTERPRISE FUNDS THAT IT REGULATES. THE MANAGEMENT FEE FORMULA IS IDENTICAL TO THAT IN THE INVESTMENT MANAGEMENT AGREEMENT BETWEEN HCA AND EEGF, WHICH ALSO WAS REVIEWED AND APPROVED BY THE UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND BOARD AND USAID (AS WELL AS BY OTHER INVESTORS IN EEGF). IN FEBRUARY 2015, THE FUND ENTERED INTO A SHARED SERVICES AGREEMENT WITH HCA, APPROVED BY THE BOARD OF DIRECTORS, TO PROVIDE ADDITIONAL PROGRAM MANAGEMENT AND ADMINISTRATIVE SERVICES FOR LEGACY PROGRAMS. UMAEF PAYS HCA AN ANNUAL PROGRAM MANAGEMENT FEE, AS DISCLOSED IN SCHEDULE L. THE FUND BECAME AN ANCHOR INVESTOR OF EEGF III, THE THIRD PRIVATE FUND LAUNCHED BY HORIZON CAPITAL. BASED ON USAID APPROVAL, IN 2016, THE BOARD OF DIRECTORS OF THE FUND COMMITTED $30 MILLION TO EEGF III AND APPROVED THE WAREHOUSING OF UP TO 100% OF ITS $30 MILLION COMMITMENT OF INVESTMENTS WITHIN UMAEF, WHICH SUBSEQUENTLY WERE TRANSFERRED TO EEGF III AT COST UPON ITS FIRST CLOSING. IN AUGUST 2022, THE BOARD OF DIRECTORS APPROVED A COMMITMENT OF $10 MILLION TO HORIZON CAPITAL GROWTH FUND IV, L.P. ("HCGF IV") AT ITS FIRST CLOSING, AT PARI-PASSU TERMS WITH THIRD PARTY INVESTORS, THUS HELPING TO CATALYZE $105 MILLION OF CAPITAL FROM DEVELOPMENT FINANCIAL INSTITUTIONS ("DFIS"). THE FUND ENTERED INTO SUBSCRIPTION DOCUMENTS FOR HCGF IV AS OF SEPTEMBER 26, 2022, THUS COMMITTING $10 MILLION TO HCGF IV IN A FIRST CLOSING TOTALING $125 MILLION. AS OF SEPTEMBER 30, 2022, NO INVESTMENTS/CONTRIBUTIONS WERE MADE. HCGF IV TARGETS TOTAL COMMITMENTS OF $250 MILLION PRIOR TO ITS FINAL CLOSING, ANTICIPATED IN 2023. IN 2002, THE BOARD MEMBERS OF UMAEF ESTABLISHED A LONG-TERM EQUITY INCENTIVE PLAN ("LTEI"), WHICH WAS BASED ON SIMILAR ARRANGEMENTS AT OTHER USAID-FINANCED ENTERPRISE FUNDS AND WAS APPROVED BY THE U.S. CONGRESS AND USAID. THE LTEI PLAN IS NOT COMPENSATION FROM GOVERNMENT GRANT FUNDS BUT A SEPARATELY USAID-APPROVED INCENTIVE PLAN FUNDED FROM INVESTMENT SALES PROCEEDS. LTEI COMPENSATION IS NOT CONTINGENT ON REVENUES OR NET EARNINGS, BUT RATHER ON A PROFITABLE EXIT OF A PORTFOLIO COMPANY THAT EXCEEDS THE BASELINE VALUE SET BY THE BOARD OF DIRECTORS AND APPROVED BY USAID. UPON THE SPIN-OFF OF EMPLOYEES TO HCAD, THE LTEI PLAN REMAINS IN EFFECT AS LONG AS 1) THE INVESTMENT MANAGEMENT AGREEMENT BETWEEN UMAEF AND HCA CONTINUES; 2) THE SPECIFIC EMPLOYEE REMAINS IN THE EMPLOY OF UMAEF OR HCAD AND 3) THE BOARD OF DIRECTORS DOES NOT AMEND, ALTER OR TERMINATE THE PLAN. THIS IS INTENDED TO MAXIMIZE UMAEF'S RETURNS ON ITS REMAINING PORTFOLIO. LTEI PAYMENTS DURING THE 2022 CALENDAR YEAR ARE SET FORTH IN THE FOLLOWING PARAGRAPH. THE STATEMENT OF FUNCTIONAL EXPENSES IN PART IX SETS FORTH $9,878 OF EXPENSES UNDER THE LONG-TERM EQUITY INCENTIVE PLAN (LTEI) THAT WERE PAID OUT IN MAY 2023, BEFORE THE 9/30/23 FISCAL YEAR END. THIS AMOUNT REPRESENTS LTEI PAYMENTS MADE TO FORMER KEY EMPLOYEES ONLY. IN THE COMPENSATION SECTION OF FORM 990, PART VII, WE REPORT $1,856 OF PAID LTEI DURING THE 2022 CALENDAR YEAR TO FORMER KEY EMPLOYEES, BECAUSE THOSE SECTIONS REPORT COMPENSATION PAID DURING THE 2022 CALENDAR YEAR. IN ADDITION, WE NOTE THAT THE GRANT AGREEMENT WITH USAID PROVIDES THAT U.S. GOVERNMENT GRANT FUNDS MAY NOT BE USED TO COMPENSATE EMPLOYEES OF UMAEF, OR EMPLOYEES OF AN ORGANIZATION IN WHICH IT OWNS A MAJORITY INTEREST, OVER $150,000 PER ANNUM. THE LTEI PLAN IS NOT COMPENSATION FROM GOVERNMENT GRANT FUNDS, BUT A SEPARATELY USAID-APPROVED INCENTIVE PLAN FUNDED FROM INVESTMENT SALES PROCEEDS. |
| FORM 990, PART VI, SECTION C, LINE 19 | DISCLOSURES AS A USAID RECIPIENT, UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND' GOVERNING DOCUMENTS, INCLUDING ITS CONFLICT OF INTEREST POLICY, AND ITS FINANCIAL STATEMENTS ARE PROVIDED TO USAID AND ARE MADE AVAILABLE TO THE PUBLIC THROUGH THIS ORGANIZATION. |
| FORM 990, PART VI, SECTION B, LINE 16 | JOINT VENTURES THE TAX-EXEMPT MISSION OF UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND ESTABLISHED BY THE U.S. CONGRESS AND USAID IS DIRECTLY FURTHERED BY THE FUND'S INVESTMENTS IN SMALL-TO MID-SIZED COMPANIES IN THE UKRAINE AND MOLDOVA, AND ALSO BY ITS INVESTMENTS IN EEGF, EEGF III AND HCGF IV, REGIONAL PRIVATE EQUITY FUNDS WHOSE ESTABLISHMENT WAS ENCOURAGED, REVIEWED AND APPROVED BY USAID. UNDER THE TERMS OF ITS GRANT AGREEMENT FROM USAID, UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND TAKES A COMMERCIAL APPROACH TO ITS INVESTMENT ACTIVITIES IN PORTFOLIO COMPANIES IN THE WESTERN NEWLY INDEPENDENT STATES, AS A MATTER OF OPERATING PHILOSOPHY. THE WRITTEN GRANT AGREEMENT ALSO PROVIDES NUMEROUS TERMS AND CONDITIONS TO ENSURE THAT THE PORTFOLIO COMPANIES IT INVESTS IN FURTHER ITS TAX-EXEMPT MISSION AND USAID GUIDELINES. UKRAINE-MOLODVA AMERICAN ENTERPISE FUND HAS A WRITTEN POLICY THAT REQUIRES, AMONG OTHER THINGS, THAT ALL INVESTMENTS BE IN ACCORD WITH THE GRANT AGREEMENT, WHICH EXPRESSLY DEFINES PERMISSIBLE INVESTMENTS AS WELL AS PROHIBITED TRANSACTIONS CONSISTENT WITH UMAEF'S CONGRESSIONALLY-MANDATED CHARITABLE MISSION. IN ADDITION TO THIS WRITTEN POLICY, UKRAINE-MOLODVA AMERICAN ENTERPRISE FUND HAS ADOPTED VARIOUS MEASURES THAT SAFEGUARD ITS EXEMPT STATUS WITH RESPECT TO ITS INVESTMENTS. THESE MEASURES INCLUDE ENSURING THAT INVESTMENT AGREEMENTS WITH PORTFOLIO COMPANIES ARE ON AN ARM'S LENGTH BASIS AND CONTAIN PROVISIONS TO ASSURE COMPLIANCE WITH RELEVANT CLAUSES WITHIN THE GRANT AGREEMENT. USAID SPECIFICALLY REVIEWED AND APPROVED IN WRITING UKRAINE-MOLODVA AMERICAN ENTERPRISE FUNDS' INVESTMENTS IN EEGF, EEGF III, HORISON CAPITAL GROWTH FUND IV AND AS AN INTEGRAL PART OF ITS TAX EXEMPT MISSION. |
| FORM 990, PART VII, SECTION B, LINE 1 | INVESTMENT MANAGEMENT FEES INVESTMENT MANAGEMENT FEES IN THE AMOUNT OF $102,904 PAID TO HORIZON CAPITAL ASSOCIATES LLC REPRESENT INVESTMENT MANAGEMENT FEES PAID IN CALENDAR YEAR 2022 AS THIS IS THE CALENDAR YEAR ENDING WITHIN UKRAINE-MOLODVA AMERICAN ENTERPRISE FUNDS' TAX YEAR BEGINNING 10/01/2022 AND ENDING 9/30/2023. THIS AMOUNT DIFFERS FROM THE INVESTMENT MANAGEMENT FEES REPORTED IN SCHEDULE L PART IV BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS AS THIS LATTER AMOUNT REFLECTS ACTUAL PAYMENTS MADE IN FISCAL 2023. PROGRAM MANAGEMENT FEES PROGRAM MANAGEMENT FEES IN THE AMOUNT OF $525,000 PAID TO HORIZON CAPITAL ASSOCIATES LLC REPRESENT INVESTMENT MANAGEMENT FEES PAID IN CALENDAR YEAR 2022 AS THIS IS THE CALENDAR YEAR ENDING WITHIN UKRAINE-MOLODVA AMERICAN ENTERPRISE FUNDS' TAX YEAR BEGINNING 10/01/2022 AND ENDING 9/30/2023. THIS AMOUNT DIFFERS FROM THE INVESTMENT MANAGEMENT FEES REPORTED IN SCHEDULE L PART IV BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS AS THIS LATTER AMOUNT REFLECTS ACTUAL PAYMENTS MADE IN FISCAL 2023. |
| FORM 990, PART XI, LINE 9: | DEFERRED EXIT BASED INCENTIVE 9,878. |
Schedule R IRS990ScheduleR
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Unrelated Org Txbl Partnership UnrelatedOrgTxblPartnershipGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Predominate IncomePredominateIncomeDesc | All Partners C3 SAllPartnersC3SInd | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | Disproportionate AllocationsDisproportionateAllocationsInd | General Or Managing PartnerGeneralOrManagingPartnerInd | OwnershipOwnershipPct |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EEGF III | |||||||||||||
| 175 W JACKSON | CHICAGO | IL | 60604 | 384008850 | PRIVATE EQUITY | DE | EXCLUDED | 0 | -$496,780 | $18,927,376 | 0 | 0 | 0.16390 |
| HCGF IV | |||||||||||||
| 175 W JACKSON | CHICAGO | IL | 60604 | 874502434 | PRIVATE EQUITY | DE | EXCLUDED | 0 | $0 | -$58,230 | 0 | 0 | 0.08430 |
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