UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND: Form 990, tax year 2021

View the entire original 990 at ProPublica ↗

Organization: UKRAINE-MOLDOVA AMERICAN ENTERPRISE FUND (EIN 13-3786524)
Tax period: 2021-10-01 to 2022-09-30
Filed: 2023-08-09
IRS object ID: 202312219349300736
Schema version: 2021v4.2
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 D
Schedule F
Schedule J
Schedule L
Schedule O
Schedule R

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2023-08-09T13:10:35-05:00	ReturnTs
Tax Period End	2022-09-30	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	2021-10-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	133786524	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	WESTERN NIS ENTERPRISE FUND	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	WEST	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	2023-08-09	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	JAROSLAWA	PersonFirstNm
Person Last	JOHNSON	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	BRIAN KEARNS	PreparerPersonNm
PTIN	P02061479	PTIN
Phone	7032868399	PhoneNum
Preparation	2023-07-25	PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	3	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2021	TaxYr
Build TS	2023-04-26 12:10:37Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
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	$76,515	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	WWW.WNISEF.ORG	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1994	FormationYr
Legal Domicile State	IL	LegalDomicileStateCd
Activity Or Mission	WESTERN NIS WAS CREATED AND FUNDED BY THE US CONGRESS, TO INVEST IN AND (SEE SCHEDULE O)	ActivityOrMissionDesc
Voting Members Governing Body	6	VotingMembersGoverningBodyCnt
Voting Members Independent	5	VotingMembersIndependentCnt
Total Employee	2	TotalEmployeeCnt
Total Volunteers	0	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$110,020	PYContributionsGrantsAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$4,100,098	PYProgramServiceRevenueAmt
CY Program Service Revenue	$40,031	CYProgramServiceRevenueAmt
PY Investment Income	$55	PYInvestmentIncomeAmt
CY Investment Income	-$1,013,093	CYInvestmentIncomeAmt
PY Other Revenue	$36,201	PYOtherRevenueAmt
CY Other Revenue	$36,415	CYOtherRevenueAmt
PY Total Revenue	$4,246,374	PYTotalRevenueAmt
CY Total Revenue	-$936,647	CYTotalRevenueAmt
PY Grants And Similar Paid	$793,443	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$1,742,325	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$3,959,677	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$1,982,220	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$1,776,375	PYOtherExpensesAmt
CY Other Expenses	$1,750,375	CYOtherExpensesAmt
PY Total Expenses	$6,529,495	PYTotalExpensesAmt
CY Total Expenses	$5,474,920	CYTotalExpensesAmt
PY Revenues Less Expenses	-$2,283,121	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	-$6,411,567	CYRevenuesLessExpensesAmt
Total Assets BOY	$84,059,720	TotalAssetsBOYAmt
Total Assets EOY	$83,458,676	TotalAssetsEOYAmt
Total Liabilities BOY	$860,307	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$416,459	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$83,199,413	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$83,042,217	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	$4,629,804	ExpenseAmt
Grant	$1,742,325	GrantAmt
Revenue	$8,835	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.	Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

Field	Value	IRS element (for citing)
Expense	$421,603	ExpenseAmt
Revenue	-$981,966	RevenueAmt
Desc	WESTERN NIS ENCOURAGES, THROUGH LENDING, INVESTMENT, AND TECHNICAL ASSISTANCE, THE CREATION AND EXPANSION OF SMALL AND MEDIUM-SIZED ENTERPRISES IN THE UKRAINE AND MOLDOVA. WESTERN NIS 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.	Desc

Field	Value	IRS element (for citing)
Total Program Service Expenses	$5,051,407	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (1)	DescribedInSection501c3Ind
Schedule B Required	0	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	0	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	6	GoverningBodyVotingMembersCnt
Independent Voting Member	5	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 (9 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
JAROSLAWA ZELINSKY JOHNSON
PRESIDENT & CEO	40.00	0.00	Yes (X)	Yes (X)	$250,359	$0	$37,910
DANIEL F RUNDE
DIRECTOR	1.00	0.00	Yes (X)		$0	$0	$0
MARTA FARION
DIRECTOR	1.00	0.00	Yes (X)		$0	$0	$0
JEFFREY C NEAL
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
LENNA KOSZARNY
EXECUTIVE VICE PRESIDENT	1.00	0.00		Yes (X)	$41,836	$0	$0
NATALIA KOVALENKO
CFAO & TREASURER	1.00	0.00		Yes (X)	$4,174	$0	$0
ELAINE MCCORMACK
SECRETARY	34.00	0.00		Yes (X)	$74,814	$0	$16,386

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$371,183	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$54,296	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	1	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	Foreign PostalContractorAddress/ForeignAddress/ForeignPostalCd	Province Or StateContractorAddress/ForeignAddress/ProvinceOrStateNm
HORIZON CAPITAL ASSOCIATES LLC
175 W JACKSON BLVD STE 1640	CHICAGO	IL	60604	INVESTMENT/PRG MGMT FEES	$581,959
ADVISORY TRUST GRP SP Z OO
				ADVISORY FEES	$402,336	PLAC STANISLAWA MALACHOWSKIEGO 2	WARSAW	PL	00-066
FUNDING MATTERS INC
				CONSULTING FEES	$241,326	333 DUNDAS ST E	TORONTO	CA	M5A 2A2	ON

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	3	CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

Field	Value	IRS element (for citing)
Desc	INTEREST FROM PRIS	Desc
Business	523000	BusinessCd
Total Revenue Column	$40,031	TotalRevenueColumnAmt
Related Or Exempt Func Income	$40,031	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$40,031	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$69	TotalRevenueColumnAmt
Exclusion	$69	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$0	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$1,013,162	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	-$1,013,162	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	-$1,013,162	TotalRevenueColumnAmt
Related Or Exempt Func Income	-$1,013,162	RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp

Field	Value	IRS element (for citing)
Desc	MISCELLANEOUS	Desc
Business	900099	BusinessCd
Total Revenue Column	$36,415	TotalRevenueColumnAmt
Exclusion	$36,415	ExclusionAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$36,415	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	-$936,647	TotalRevenueColumnAmt
Related Or Exempt Func Income	-$973,131	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$36,484	ExclusionAmt

Foreign Grants ForeignGrantsGrp

Field	Value	IRS element (for citing)
Total	$1,742,325	TotalAmt
Program Services	$1,742,325	ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$393,873	TotalAmt
Program Services	$329,606	ProgramServicesAmt
Management And General	$64,267	ManagementAndGeneralAmt

Comp Disqual Persons CompDisqualPersonsGrp

Field	Value	IRS element (for citing)
Total	$606,102	TotalAmt
Program Services	$606,102	ProgramServicesAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$824,168	TotalAmt
Program Services	$752,036	ProgramServicesAmt
Management And General	$72,132	ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$52,278	TotalAmt
Program Services	$46,491	ProgramServicesAmt
Management And General	$5,787	ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$105,799	TotalAmt
Program Services	$90,698	ProgramServicesAmt
Management And General	$15,101	ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$63,434	TotalAmt
Program Services	$48,557	ProgramServicesAmt
Management And General	$14,877	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$99,535	TotalAmt
Program Services	$72,578	ProgramServicesAmt
Management And General	$26,957	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$182,544	TotalAmt
Program Services	$173,914	ProgramServicesAmt
Management And General	$8,630	ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$56,051	TotalAmt
Program Services	$46,457	ProgramServicesAmt
Management And General	$9,594	ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$13,118	TotalAmt
Program Services	$11,185	ProgramServicesAmt
Management And General	$1,933	ManagementAndGeneralAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$119,157	TotalAmt
Program Services	$86,885	ProgramServicesAmt
Management And General	$32,272	ManagementAndGeneralAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$579,877	TotalAmt
Program Services	$461,386	ProgramServicesAmt
Management And General	$118,491	ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$252,807	TotalAmt
Program Services	$249,661	ProgramServicesAmt
Management And General	$3,146	ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$8,044	TotalAmt
Program Services	$6,141	ProgramServicesAmt
Management And General	$1,903	ManagementAndGeneralAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$67,021	TotalAmt
Program Services	$48,869	ProgramServicesAmt
Management And General	$18,152	ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt
OTHER OPERATING EXPENSE	$288,584	$263,765	$24,819
BANK FEES	$13,614	$9,947	$3,667
MEMBERSHIP FEES	$6,490	$4,732	$1,758
FIXED ASSET EXPENSES	$99	$72	$27

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$5,474,920	TotalAmt
Program Services	$5,051,407	ProgramServicesAmt
Management And General	$423,513	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$40,074,472	BOYAmt
EOY	$30,786,406	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$204,964	BOYAmt
EOY	$294,247	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$200,389	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$178,965	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$21,310	BOYAmt
EOY	$21,424	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
BOY	$43,060,757	BOYAmt
EOY	$51,730,406	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$698,217	BOYAmt
EOY	$626,193	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$84,059,720	BOYAmt
EOY	$83,458,676	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$342,868	BOYAmt
EOY	$194,794	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$517,439	BOYAmt
EOY	$221,665	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$860,307	BOYAmt
EOY	$416,459	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	$83,199,413	BOYAmt
EOY	$83,042,217	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$83,199,413	BOYAmt
EOY	$83,042,217	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$84,059,720	BOYAmt
EOY	$83,458,676	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	-$6,411,567	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$6,252,515	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$1,856	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 Minus1 Year	$110,020	CurrentTaxYearMinus1YearAmt
Current Tax Year	$0	CurrentTaxYearAmt
Total	$110,020	TotalAmt

Gross Receipts Admissions GrossReceiptsAdmissionsGrp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$299,972	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$157,330	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$298,507	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$101,428	CurrentTaxYearMinus1YearAmt
Current Tax Year	$40,031	CurrentTaxYearAmt
Total	$897,268	TotalAmt

Total509 Total509Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$299,972	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$157,330	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$298,507	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$211,448	CurrentTaxYearMinus1YearAmt
Current Tax Year	$40,031	CurrentTaxYearAmt
Total	$1,007,288	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	$1,007,288	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	$55	CurrentTaxYearMinus1YearAmt
Current Tax Year	$69	CurrentTaxYearAmt
Total	$289	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	$55	CurrentTaxYearMinus1YearAmt
Current Tax Year	$69	CurrentTaxYearAmt
Total	$289	TotalAmt

Other Income509 OtherIncome509Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$36,015	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$36,000	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$36,000	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$36,201	CurrentTaxYearMinus1YearAmt
Current Tax Year	$36,415	CurrentTaxYearAmt
Total	$180,631	TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$336,042	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$193,385	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$334,562	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$247,704	CurrentTaxYearMinus1YearAmt
Current Tax Year	$76,515	CurrentTaxYearAmt
Total	$1,188,208	TotalAmt

Field	Value	IRS element (for citing)
Public Support CY509	0.84770	PublicSupportCY509Pct
Public Support PY509	0.89790	PublicSupportPY509Pct
Investment Income CY	0.00020	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 REIMBURSEMENTS AND OTHER MISCELLANEOUS INCOME.	ExplanationTxt

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	$195,743	OtherCostOrOtherBasisAmt
Depreciation	$174,319	DepreciationAmt
Book Value	$21,424	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$21,424	TotalBookValueLandBuildingsAmt

Invst Program Related Org InvstProgramRelatedOrgGrp (4 entries)

DescDesc	Book ValueBookValueAmt	Method ValuationMethodValuationCd
EQUITY & DEBT SECURITIES	$4,971,320	F
EMERGING EUROPE GROWTH FUND LP	$156,706	F
OTHER FINANCIAL ASSETS	$1,065,000	F
EMERGING EUR. GROWTH FUND III	$45,537,380	F

Field	Value	IRS element (for citing)
Total Book Value Program Rltd	$51,730,406	TotalBookValueProgramRltdAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDesc	AmtAmt
THIRD-PARTY FRAMEWORK AGREEMENT	$211,323
EXIT-BASED INCENTATIVE PAYABLE	$10,342

Field	Value	IRS element (for citing)
Total Liability	$221,665	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$5,315,868	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	$6,252,515	NetUnrealizedGainsInvstAmt
Revenue Not Reported	$6,252,515	RevenueNotReportedAmt
Revenue Subtotal	-$936,647	RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt	$0	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	-$936,647	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$5,473,064	TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported	$0	ExpensesNotReportedAmt
Expenses Subtotal	$5,473,064	ExpensesSubtotalAmt
Other Expenses Not Included	$1,856	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$1,856	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$5,474,920	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 1,856.

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/INDEPENDENT STATES	2	13	PROGRAM SERVICES	GENERAL OPERATIONS	$3,247,192
RUSSIA/INDEPENDENT STATES	0	0	GRANTMAKING		$1,742,325
RUSSIA/INDEPENDENT STATES	0	0	INVESTMENTS		$6,036,320

Field	Value	IRS element (for citing)
Subtotal Offices	2	SubtotalOfficesCnt
Subtotal Employees	13	SubtotalEmployeesCnt
Continuation Total Office	0	ContinuationTotalOfficeCnt
Continuation Total Employee	0	ContinuationTotalEmployeeCnt
Total Office	2	TotalOfficeCnt
Total Employee	13	TotalEmployeeCnt
Subtotal Spent	$11,025,837	SubtotalSpentAmt
Continuation Spent	$0	ContinuationSpentAmt
Total Spent	$11,025,837	TotalSpentAmt

Grants To Org Outside US GrantsToOrgOutsideUSGrp (12 entries)

RegionRegionTxt	Purpose Of GrantPurposeOfGrantTxt	Cash GrantCashGrantAmt	Manner Of Cash DisbursementMannerOfCashDisbursementTxt	Non Cash AssistanceNonCashAssistanceAmt
RUSSIA/NEWLY INDEPENDENT STATES	LEADERSHIP ACADEMY	$1,092,344	WIRE	$0
RUSSIA/NEWLY INDEPENDENT STATES	DIGITAL TRANSFORMATION	$139,735	WIRE	$0
RUSSIA/NEWLY INDEPENDENT STATES	EVENT SUPPORT	$128,000	WIRE	$0
RUSSIA/NEWLY INDEPENDENT STATES	EDUCATION	$99,886	WIRE	$0
RUSSIA/NEWLY INDEPENDENT STATES	IT EDUC REFORM	$52,860	WIRE	$0
RUSSIA/NEWLY INDEPENDENT STATES	ANTI-CURRUPTION PROG SUPPORT	$49,357	WIRE	$0
RUSSIA/NEWLY INDEPENDENT STATES	EXPORT PROMOTION	$49,994	WIRE	$0
RUSSIA/NEWLY INDEPENDENT STATES	EDUCATION	$41,799	WIRE	$0
RUSSIA/NEWLY INDEPENDENT STATES	RESEARCH	$27,100	WIRE	$0
RUSSIA/NEWLY INDEPENDENT STATES	EDUCATION	$27,000	WIRE	$0
RUSSIA/NEWLY INDEPENDENT STATES	EDUCATION	$20,000	WIRE	$0
RUSSIA/NEWLY INDEPENDENT STATES	EDUCATION	$12,000	WIRE	$0

Field	Value	IRS element (for citing)
Total501c3 Org	0	Total501c3OrgCnt
Total Other Org	12	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 WNISEF 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 WNISEF 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 WNISEF WRITTEN INTERIM AND/OR FINAL REPORTS TO REFLECT THE PROGRESS ON ACTIVITIES AND PROJECT'S RESULTS AND IMPACT TO DATE. WNISEF 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 WNISEF A FINANCIAL REPORT FOR USE OF FUNDS TO DETERMINE EXPENDITURE AGAINST THE FUNDING AGREEMENT.
PART I, LINE 3:	FOREIGN ACTIVITIES WESTERN NIS HAS AN OFFICE IN THE US, BUT MOST OF ITS OPERATIONS ARE IN UKRAINE AND MOLDOVA, GIVEN ITS TAX-EXEMPT MISSION. (SEE SCHEDULE O FOR ADDITIONAL DETAILS.) WESTERN NIS 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 2022. 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	$55,650	BonusFilingOrganizationAmount
Bonus Related Organizations	$0	BonusRelatedOrganizationsAmt
Other Compensation Filing Org	$44,709	OtherCompensationFilingOrgAmt
Other Compensation Rltd Orgs	$0	OtherCompensationRltdOrgsAmt
Deferred Compensation Flng Org	$37,910	DeferredCompensationFlngOrgAmt
Deferred Comp Rltd Orgs	$0	DeferredCompRltdOrgsAmt
Nontaxable Benefits Filing Org	$0	NontaxableBenefitsFilingOrgAmt
Nontaxable Benefits Rltd Orgs	$0	NontaxableBenefitsRltdOrgsAmt
Total Compensation Filing Org	$288,269	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. LONG-TERM EQUITY INCENTIVE PLAN (LTEI) DURING THE FISCAL YEAR, THE CEO AND OTHER OFFICER SHOWN ON SCHEDULE J, PART II RECEIVED PAYMENT PER THE LONG-TERM EQUITY INCENTIVE (LTEI) PLAN, A CARRY-TYPE ARRANGEMENT RELATING TO SUCCESSFUL EXITS OF PORTFOLIO COMPANIES, WHICH WERE APPROVED BY BOARD OF DIRECTORS, USAID AND RECEIVED CONGRESSIONAL APPROVAL. LTEI COMPENSATION IS NOT CONTINGENT ON REVENUES OR NET EARNINGS, IT IS CONTINGENT UPON A SUCCESSFUL EXIT OF A PORTFOLIO COMPANY THAT EXCEEDS THE BASELINE VALUE SET BY THE BOARD OF DIRECTORS AND APPROVED BY USAID. SEE SCHEDULE O - COMPENSATION FOR ADDITIONAL INFORMATION.	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	$93,028	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, 2022, LENNA KOSZARNY (OFFICER) WAS OWNER AND/OR OFFICER OF HORIZON CAPITAL ASSOCIATES LLC (HCA), THE INVESTMENT MANAGEMENT COMPANY CONTRACTED TO MANAGE THE WESTERN NIS PORTFOLIO. AS NOTED IN PART III OF FORM 990, ONE OF WESTERN NIS' 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 WESTERN NIS. 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 WESTERN NIS' MISSION. THE INVESTMENT MANAGEMENT AGREEMENT WITH HCA WAS ENTERED INTO BY WESTERN NIS ON PARI PASSU TERMS AS THE THIRD-PARTY INVESTMENT MANAGEMENT AGREEMENT BETWEEN HCA AND EMERGING EUROPE GROWTH FUND, LP TO ENSURE THAT THE WESTERN NIS-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, 2022, NO INVESTMENTS/CONTRIBUTIONS WERE MADE. HCGF IV TARGETS TOTAL COMMITMENTS OF $250 MILLION PRIOR TO ITS FINAL CLOSING, ANTICIPATED IN 2023. UNDER THE TERMS OF THE GRANT AGREEMENT WITH USAID, WESTERN NIS IS MANAGED BY A BOARD OF DIRECTORS COMPRISED OF PRIVATE CITIZENS (A MAJORITY OF WHOM MUST BE US 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 THE 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 THEN APPROVE ANY NEW BOARD MEMBERS PRIOR TO THEIR COMMENCING BOARD PARTICIPATION. RE-ELECTION OF ANY CURRENT DIRECTOR ALSO REQUIRES USAID APPROVAL. FOLLOWING THE FOUNDING OF EEGF, ALL EMPLOYEES OF WESTERN NIS (EXCEPT THOSE LOCATED IN THE US) 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 WESTERN NIS 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 WESTERN NIS-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 O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (15 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART I, LINE 1	WESTERN NIS WAS CREATED AND FUNDED BY THE US 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	ORGANIZATION MISSION - THE WESTERN NIS (NEW INDEPENDENT STATES) 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"). WESTERN NIS' 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 WESTERN NIS PROGRAM PURPOSES AND ADMINISTRATIVE EXPENDITURES (THE "GRANT"). AMOUNTS RECEIVED FROM USAID WERE CONDITIONED UPON WESTERN NIS' 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. WESTERN NIS 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. WESTERN NIS PROVIDES TECHNICAL ASSISTANCE TO COMPANIES IN WHICH IT HAS INVESTED. THROUGH ITS DIRECT ROLE IN INVESTMENTS IN THE REGION'S PRIVATE SECTOR, WESTERN NIS SEEKS TO GENERATE PROFITS THAT WILL FURTHER SUPPORT ITS ACTIVITIES AND ATTRACT INVESTMENTS BY OTHERS. AS PART OF ITS INVESTMENT OPERATIONS, WESTERN NIS MAY OBTAIN REPRESENTATION ON MANAGEMENT AND SUPERVISORY COUNCILS OF INVESTEE COMPANIES. WESTERN NIS' GRANT AGREEMENT WITH USAID STATES THAT THE SUCCESS OF WESTERN NIS 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 WESTERN NIS 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 WESTERN NIS 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 WESTERN NIS OF A NUMBER OF KEY JOINT VENTURES BETWEEN PRIVATE COMPANIES OF THE US AND THE WESTERN NIS REPUBLICS; AND (6) CONSISTENT WITH WESTERN NIS' SOUND BUSINESS JUDGMENT, THE CONDUCT OF ACTIVITIES INTENDED TO FURTHER INVESTMENT IN EACH OF THE WESTERN NIS REPUBLICS. ONE OF WESTERN NIS' 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 WESTERN NIS. 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, WESTERN NIS' 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. WNISEF 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 WESTERN NIS, WITH THE FINAL TRANCHE RECEIVED IN FISCAL YEAR 2007. ACCORDING TO THE GRANT AGREEMENT, USAID MAY ESTABLISH THE DATE AFTER WHICH WESTERN NIS SHALL COMMENCE THE WINDING UP OF ITS AFFAIRS AND SALE OF ITS ASSETS. UNDER THIS AUTHORITY, USAID ORIGINALLY ESTABLISHED WESTERN NIS' TERMINATION COMMENCEMENT DATE AS AUGUST 26, 2009. DURING FISCAL YEAR 2009, WESTERN NIS 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 WESTERN NIS' 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, WNISEF 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 WESTERN NIS 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 WNISEF 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, WNISEF 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 WESTERN NIS CONSIST OF THE DIRECTORS WHO ARE US 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 WESTERN NIS' 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 WESTERN NIS, 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 WESTERN NIS AND REVIEWS MONTHLY REPORTS AND ANNUAL AUDITED FINANCIAL STATEMENTS AND ANNUAL REPORTS SUBMITTED BY WESTERN NIS.
FORM 990, PART VI, SECTION B, LINE 11B	FORM 990 REVIEW POLICY WESTERN NIS 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 WESTERN NIS ENTERPRISE FUND, 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 WESTERN NIS HAS A SPECIAL COMPENSATION STRUCTURE THAT REFLECTS ITS TAX-EXEMPT MISSION. AS NOTED IN PART III OF FORM 990, ONE OF WESTERN NIS' 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, WESTERN NIS WAS NEARING ITS WIND-DOWN PHASE, AND THE FOUNDING OF EEGF WAS A SIGNIFICANT ACCOMPLISHMENT TOWARDS WESTERN NIS' MISSION. A PRIVATE INVESTMENT MANAGEMENT COMPANY, HORIZON CAPITAL ASSOCIATES LLC (HCA), WAS FORMED TO MANAGE THE INVESTMENTS OF EEGF AND WESTERN NIS. FOLLOWING THE FOUNDING OF EEGF, ALL EMPLOYEES OF WESTERN NIS (EXCEPT THOSE LOCATED IN THE US) BECAME EMPLOYEES OF HCA'S SUBADVISOR ENTITY, HORIZON CAPITAL ADVISORS, LLC (HCAD), RESULTING IN THE TRANSFER OF EMPLOYEE COMPENSATION, OPERATING AND OTHER EXPENSES FROM WESTERN NIS TO HCA AND HCAD. ACCORDINGLY UNTIL JANUARY 2015, WESTERN NIS DID NOT HAVE EMPLOYEES, OTHER THAN AN ADMINISTRATIVE ASSISTANT AND A PART-TIME ACCOUNTANT IN THE US. 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. WESTERN NIS 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 WESTERN NIS, 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 WESTERN NIS 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. WESTERN NIS 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 WNISEF, 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 WESTERN NIS 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 US 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 WESTERN NIS AND HCA CONTINUES; 2) THE SPECIFIC EMPLOYEE REMAINS IN THE EMPLOY OF WNISEF OR HCAD AND 3) THE BOARD OF DIRECTORS DOES NOT AMEND, ALTER OR TERMINATE THE PLAN. THIS IS INTENDED TO MAXIMIZE WESTERN NIS' RETURNS ON ITS REMAINING PORTFOLIO. LTEI PAYMENTS DURING THE 2020 CALENDAR YEAR ARE SET FORTH IN THE FOLLOWING PARAGRAPH. THE STATEMENT OF FUNCTIONAL EXPENSES IN PART IX SETS FORTH $2,155,718 OF EXPENSES UNDER THE LONG-TERM EQUITY INCENTIVE PLAN (LTEI) THAT WERE PAID OUT IN DECEMBER 2021 AND AUGUST 2022, BEFORE THE 9/30/22 FISCAL YEAR END. THIS AMOUNT IS COMPRISED OF $788,726 OF LTEI PAYMENTS MADE TO CURRENT OFFICERS AND $7,024 OF RELATED TAXES AND $1,359,968 OF LTEI PAYMENTS MADE TO CURRENT AND FORMER KEY EMPLOYEES. IN THE COMPENSATION SECTION OF FORM 990, PART VII, WE REPORT $687,166 OF PAID LTEI AND $5,460 OF RELATED TAXES PAID DURING THE 2021 CALENDAR YEAR TO CURRENT OFFICERS AND $1,176,654 OF PAID LTEI TO CURRENT AND FORMER KEY EMPLOYEES, BECAUSE THOSE SECTIONS REPORT COMPENSATION PAID DURING THE 2021 CALENDAR YEAR. IN ADDITION, WE NOTE THAT THE GRANT AGREEMENT WITH USAID PROVIDES THAT US GOVERNMENT GRANT FUNDS MAY NOT BE USED TO COMPENSATE EMPLOYEES OF WESTERN NIS, 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, WESTERN NIS' 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 WESTERN NIS ENTERPRISE FUND ESTABLISHED BY THE US 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 AND EEGF III, REGIONAL PRIVATE EQUITY FUNDS WHOSE ESTABLISHMENT WAS ENCOURAGED, REVIEWED AND APPROVED BY USAID. UNDER THE TERMS OF ITS GRANT AGREEMENT FROM USAID, WESTERN NIS 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. WESTERN NIS 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 WESTERN NIS' CONGRESSIONALLY - MANDATED CHARITABLE MISSION. IN ADDITION TO THIS WRITTEN POLICY, WESTERN NIS 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 WESTERN NIS' INVESTMENTS IN EEGF AND EEGF III 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 $56,959 PAID TO HORIZON CAPITAL ASSOCIATES LLC REPRESENT INVESTMENT MANAGEMENT FEES PAID IN CALENDAR YEAR 2021 AS THIS IS THE CALENDAR YEAR ENDING WITHIN WESTERN NIS' TAX YEAR BEGINNING 10/01/2021 AND ENDING 9/30/2022. 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 2022. 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 2021 AS THIS IS THE CALENDAR YEAR ENDING WITHIN WESTERN NIS' TAX YEAR BEGINNING 10/01/2021 AND ENDING 9/30/2022.
FORM 990, PART XI, LINE 9:	DEFERRED EXIT BASED INCENTIVE 1,856.

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

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	EEGF III	BusinessNameLine1Txt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	175 W JACKSON	AddressLine1Txt
City	CHICAGO	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60604	ZIPCd

Field	Value	IRS element (for citing)
EIN	384008850	EIN
Primary Activities	PRIVATE EQUITY	PrimaryActivitiesTxt
Legal Domicile State	DE	LegalDomicileStateCd
Predominate Income	EXCLUDED	PredominateIncomeDesc
All Partners C3 S	0	AllPartnersC3SInd
Share Of Total Income	$1,472,661	ShareOfTotalIncomeAmt
Share Of EOY Assets	$18,157,653	ShareOfEOYAssetsAmt
Disproportionate Allocations	0	DisproportionateAllocationsInd
General Or Managing Partner	0	GeneralOrManagingPartnerInd
Ownership	0.16160	OwnershipPct