2021-11-01T09:40:44-05:00 2020-12-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2020-01-01 134052259 MEDIA DEVELOPMENT INVESTMENT FUND INC MEDI 2128071304 37 WEST 20TH STREET SUITE 804 NEW YORK NY 10011 HARLAN MANDEL CEO 2128071304 2021-10-20 1 HARLAN MANDEL 999009999 MAGDALENA M CZERNIAWSKI P00535099 2125038800 2021-10-20 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z X HARLAN MANDEL 37 WEST 20TH STREET SUITE 804 NEW YORK NY 10011 10679576 0 X WWW.MDIF.ORG X 1995 NY SEE SCHEDULE O. 8 7 15 7 0 0 4573359 8637641 2195819 1139391 108369 136724 154440 98827 7031987 10012583 977947 2192630 0 0 3943734 4377685 0 0 178593 5004061 4965421 9925742 11535736 -2893755 -1523153 33983390 32013095 15043029 14321213 18940361 17691882 X MDIF PROVIDES AFFORDABLE FINANCING AND TECHNICAL ASSISTANCE TO INDEPENDENT NEWS AND INFORMATION BUSINESSES IN CHALLENGING ENVIRONMENTS, HELPING THEM TO BECOME FINANCIALLY SUSTAINABLE. SEE SCHEDULE O FOR CONTINUATION. 0 0 6947056 703785 1152009 MDIF PROVIDES LOAN AND EQUITY FINANCING BY WAY OF "PROGRAM RELATED INVESTMENTS" (PRIS) TO FURTHER ITS CHARITABLE MISSION. MDIF MAINTAINS A SEGREGATED POOL OF FUNDS FROM WHICH IT MAKES PRIS. RETURN OF INVESTED CAPITAL IS RECYCLED THROUGH THE POOL FOR REINVESTMENT.WITH EVERY PRI, MDIF PROVIDES CUSTOMIZED TRAINING AND TECHNICAL ASSISTANCE TO MEDIA ORGANIZATIONS AT VARYING STAGES OF THE BUSINESS LIFE CYCLE. IN ADDITION, MDIF TRAINS MEDIA ORGANIZATIONS IN THE USE OF DIGITAL AND TRANSFORMATIONAL TECHNOLOGY FOR ENHANCING THE SUSTAINABILITY OF THE MEDIA BUSINESS.SEE SCHEDULE O FOR CONTINUATION. 1403831 336162 IN ITS GLOBAL PROGRAM, SUPPORTED BY SIDA, ("SIDA GLOBAL") MDIF UTILIZES ITS FINANCING AND CAPACITY BUILDING EXPERTISE TO IDENTIFY, DEVELOP, AND TRANSFORM MEDIA COMPANIES IN NEED, GLOBALLY, COMBINED WITH SIDA'S SUPPORT, TO PROVIDE LOAN AND EARLY STAGE EQUITY FINANCING, AND TECHNICAL ASSISTANCE, PARTICULARLY IN BUILDING DIGITAL CAPACITY AND STRENGTHENING MEDIA BUSINESS DEVELOPMENT. 622514 228909 THE MYANMAR MEDIA PROGRAM ("SIDA MYANMAR") PROVIDES A RANGE OF HIGHLY TAILORED MEDIA BUSINESS-ORIENTED TECHNICAL ASSISTANCE TO MYANMAR'S INDEPENDENT MEDIA COMPANIES, INCLUDING ONE-TO-ONE EXPERT CONSULTING, GROUP WORKSHOPS, PEER-TO-PEER KNOWLEDGE SHARING AND DIRECT GRANTS FOR BUILDING MANAGEMENT CAPACITY. 432880 189124 SAMIP 86774 PRIMED 827998 734650 MEDIA ADVISORY AND EVENT 1347652 923774 10321053 1 1 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 X 36 0 1 15 1 0 1 EZ SZ PL UK 0 0 0 0 0 0 0 0 0 0 X 8 7 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 NY X MIKE LEE CONTROLLER 2128071304 37 WEST 20TH STREET SUITE 804 NEW YORK NY 10011 ADRIAAN STOOP VICE CHAIR 2.00 X X 0 0 0 ALEXEJ FULMEK DIRECTOR (THRU 8/20) 2.00 X 0 0 0 CATHERINE GICHERU DIRECTOR 2.00 X 0 0 0 HARLAN MANDEL CHIEF EXECUTIVE OFFICER 40.00 X X 270816 0 70052 JAMES EGAN DIRECTOR (THRU 6/20) 2.00 X 0 0 0 KERSTIN MOGULL DIRECTOR 2.00 X 0 0 0 MARIA-TERESA RONDEROS DIRECTOR 2.00 X 0 0 0 NANI JANSEN DIRECTOR (THRU 12/20) 2.00 X 0 0 0 RICHARD ATTERBURY DIRECTOR 2.00 X 0 0 0 SHEILA CORONEL CHAIR 2.00 X X 0 0 0 YING-YUEN CHAN DIRECTOR (THRU 5/20) 2.00 X 0 0 0 ELENA POPOVIC SECRETARY/GENERAL COUNSEL 40.00 X 176168 0 44408 MARIE NEMCOVA CHIEF OPERATING OFFICER 40.00 X 127000 0 0 MOHAMED NANABHAY DEPUTY CEO 40.00 X 0 0 0 TELING PETERSON CHIEF FINANCIAL OFFICER 40.00 X 182317 0 67447 BILAL RANDEREE PROGRAM DIRECTOR 40.00 X 124460 0 8720 KEVIN BROCKLAND PRINCIPAL INVESTMENT OFFICER 40.00 X 135022 0 42441 PATRICE SCHNEIDER CHIEF STRATEGY OFFICER 40.00 X 159978 0 0 RASHID MALIK PRINCIPAL INVESTMENT OFFICER 40.00 X 158834 0 57735 VIVIANA GONZALEZ INVESTMENT OFFICER 40.00 X 119472 0 25859 1454067 0 316662 9 0 1 0 NISALUX PTY LTD UNIT B P 6TH STREET HOUGHTON ESTATE JOHANNESBURG SF CONSULTANT 246949 PT BINTANG LARASATI MITRA SENTOSA SATRIO TOWER MEGA KUNINGAN JAKARTA SELATAN IN CONSULTANT 133475 2 8637641 8637641 PROGRAM RELATED INVESTMENTS 900099 591367 591367 MANAGEMENT FEES 900099 543488 543488 CONSULTING FEES 900099 4536 4536 1139391 145987 145987 50506 4789 45717 45717 45717 652941 662204 -9263 -9263 -9263 FOREIGN REALIZED GAIN 900099 40492 40492 MICELLANEOUS 900099 12618 12618 53110 10012583 1152009 0 222933 2192630 2192630 1058157 846525 211632 2625067 2226089 270477 128501 139253 116316 13976 8961 334844 276794 41786 16264 220364 180937 30954 8473 270242 247966 22276 144099 101087 43012 26708 26708 659657 643464 3693 12500 50397 26638 23759 44667 22410 22257 117488 54993 62495 367920 165564 202356 119725 96525 22498 702 302728 302728 52555 48313 4159 83 43655 19645 24010 PROV. FOR PRI LOSSES 2744142 2744142 MISCELLANEOUS 21073 8123 9841 3109 TAXES AND FEES 365 164 201 11535736 10321053 1036090 178593 1799555 3464189 2517121 1319014 1964436 562209 656130 1065912 47361 66484 1288057 1244834 95777 43223 4958273 5596466 18638532 17781149 3306205 2114449 33983390 32013095 897144 1207630 13454831 12530935 691054 582648 15043029 14321213 X 13243322 13036764 5697039 4655118 18940361 17691882 33983390 32013095 X -1523153 1065881 -791207 X X 0 1 X 1 0 X 6309054 7774799 5355285 4573359 8637641 32650138 6309054 7774799 5355285 4573359 8637641 32650138 27501169 5148969 226421 145908 233823 249496 45717 901365 247711 280388 30221 21551 43847 623718 34175221 7193189 0.15070 0.10750 X MEDIA DEVELOPMENT INVESTMENT FUND, INC. (MDIF), A 501(C)(3) NOT-FOR-PROFIT CORPORATION, HAS BEEN OPERATING AS A PUBLICLY SUPPORTED ORGANIZATION OF THE TYPE DESCRIBED IN SECTION 170(B)(1)(A)(VI) OF THE INTERNAL REVENUE CODE OF 1986 (THE "CODE") SINCE JANUARY 1, 2002 BASED ON THE IRS DETERMINATION LETTER DATED APRIL 2, 2002, AS MODIFIED BY THE IRS DETERMINATION LETTER DATED JUNE 21, 2007. MDIF SUPPORTS INDEPENDENT NEWS OUTLETS IN COUNTRIES WITH A HISTORY OF MEDIA OPPRESSION BY PROVIDING CONCESSIONARY CAPITAL (PROGRAM RELATED INVESTMENTS AND MISSION RELATED INVESTMENTS) COMBINED WITH TECHNICAL ASSISTANCE AND CAPACITY BUILDING TO HELP MEDIA MANAGERS, EDITORS AND JOURNALISTS IN CHALLENGING ENVIRONMENTS BUILD SUSTAINABLE BUSINESSES AROUND FACT-BASED, PROFESSIONAL, RESPONSIBLE, QUALITY JOURNALISM.IN DOING SO, MDIF DEPENDS ON NOT ONLY THE GENEROSITY OF LARGE PRIVATE FOUNDATIONS, BUT ALSO GOVERNMENTAL ENTITIES AND THE PUBLIC AT LARGE TO CONTINUE ITS IMPORTANT WORK. SINCE 2002, MDIF HAS ENJOYED GENEROUS SUPPORT THROUGH GRANTS, RECOVERABLE GRANTS, PROGRAM RELATED INVESTMENTS, MISSION RELATED INVESTMENTS, IMPACT FINANCING, AND CONCESSIONARY LOANS FROM A NUMBER OF DIFFERENT U.S. AND INTERNATIONAL ORGANIZATIONS AND INDIVIDUALS, INCLUDING BUT NOT LIMITED TO:- ADDESSIUM, A DUTCH FOUNDATION- ASSOCIATION OF ALTERNATIVE NEWSMEDIA, A 501(C)(6) ORGANIZATION- CALVERT IMPACT CAPITAL, A 501(C)(3) ORGANIZATION- DOEN FOUNDATION, A DUTCH FOUNDATION- DREILINDEN, A GERMAN FOUNDATION- IFU, DANISH INVESTMENT FUND FOR DEVELOPING COUNTRIES- OMIDYAR NETWORK, NOW, LUMINATE, PART OF OMIDYAR GROUP. A 501(C)(4) ORGANIZATION- OPEN SOCIETY FOUNDATIONS, A 501(C)(3) PRIVATE FOUNDATION- SOROS ECONOMIC DEVELOPMENT FUND, A 501(C)(3) PRIVATE FOUNDATION- STICHTING DEMOCRATIE & MEDIA, A DUTCH FOUNDATION- SWEDISH INTERNATIONAL DEVELOPMENT COOPERATION AGENCY, SIDA, A SWEDISH GOVERNMENTAL AGENCY- SWISS DEVELOPMENT AGENCY - THE KING BAUDOUIN FOUNDATION, A BELGIUM CHARITY- THE REVA AND DAVID LOGAN FOUNDATION, A 501(C)(3) PRIVATE FOUNDATION- AND A HOST OF SMALLER FOUNDATIONS AND INDIVIDUALS BOTH IN THE U.S. AND ABROAD THAT SHARE A CONCERN FOR MDIF'S MISSION.MDIF CONTINUES TO RELY ON PUBLIC SUPPORT IN ORDER TO FURTHER ITS MISSION. IT MAINTAINS A CONTINUOUS AND BONA FIDE PROGRAM FOR SOLICITATION OF FUNDS FROM THE GENERAL PUBLIC, COMMUNITY AND FROM CARRYING ON ACTIVITIES DESIGNED TO ATTRACT SUPPORT FROM GOVERNMENTAL UNITS AND OTHER TAX-EXEMPT ORGANIZATIONS DESCRIBED IN CODE SECTIONS 170(B)(1)(A)(I) THROUGH (VI). THEREFORE, MDIF SATISFIES THE ATTRACTION OF PUBLIC SUPPORT REQUIREMENT OF TREAS. REG. 1.170A-9(F)(3)(II). MDIF'S FUNDRAISING EFFORTS ARE CONDUCTED BY MEMBERS OF MDIF'S BOARD OF DIRECTORS, TOGETHER WITH MEMBERS OF MDIF'S SENIOR MANAGEMENT. IN ADDITION TO GENERAL SOLICITATION OF PUBLIC SUPPORT, MDIF'S FUNDRAISING EFFORTS PRIMARILY CONSIST OF A TARGETED APPROACH TO DONORS BECAUSE MDIF'S ACTIVITIES ARE OF A TYPE LIKELY TO APPEAL TO A SMALLER NUMBER OF FUNDERS WITH AN INTEREST IN SUPPORTING INDEPENDENT MEDIA-RELATED PROJECTS.GIVING HAS DIMINISHED ACROSS THE NOT-FOR-PROFIT SECTOR IN RECENT YEARS. IN ADDITION, THE COVID-19 PANDEMIC HAS A SIGNIFICANT IMPACT ON FUNDRAISING EFFORTS OF ORGANIZATIONS THAT, LIKE MDIF, DEPEND UPON PUBLIC SUPPORT TO THRIVE. UNCERTAINTY ABOUT THE LENGTH OF THE PANDEMIC, EXPECTATIONS OF THE POTENTIAL ECONOMIC HARDSHIP IT MAY CAUSE, LARGE FOUNDATIONS SHIFTING STRATEGY TO OTHER CHARITABLE FIELDS, AND AN INABILITY TO MEET AND FUNDRAISE IN PERSON HAVE ALL IMPACTED MDIF'S (AND MANY OTHER NOT-FOR-PROFITS) ABILITY TO RAISE FUNDS, TO SOLICIT CONTRIBUTIONS AND TO GENERATE REVENUES TO UNDERTAKE EXEMPT PROGRAMS. AS A RESULT, FOR FISCAL YEAR 2020, MDIF DID NOT MEET THE 33 1/3 PUBLIC SUPPORT TEST.MDIF UNDERSTANDS THE IMPORTANCE OF MEETING THE PUBLIC SUPPORT TEST. TO THAT END, IT IS CONTINUALLY ATTEMPTING TO GENERATE NEW SOURCES OF FUNDRAISING THROUGH BROAD DONOR APPEALS, TARGETED SOLICITATIONS, AND WEBSITE SOLICITATION.INTERNAL REVENUE CODE REGULATION 1.170A-9 LISTS SEVERAL CRITERIA THAT INDICATE FACTS AND CIRCUMSTANCES SUPPORTING AN ORGANIZATION'S CONTINUED PUBLIC CHARITY STATUS DESPITE NOT MEETING THE 33 1/3 SUPPORT TEST. THOSE CRITERIA ARE AS FOLLOWS:1. ATTRACTION OF PUBLIC SUPPORT - AS DISCUSSED ABOVE, MDIF MAINTAINS A CONTINUOUS AND BONA FIDE PROGRAM FOR SOLICITING FUNDS FROM THE GENERAL PUBLIC, COMMUNITY, AND FROM CARRYING ON ACTIVITIES DESIGNED TO ATTRACT SUPPORT FROM GOVERNMENTAL UNITS AND OTHER TAX-EXEMPT ORGANIZATIONS DESCRIBED IN CODE SECTIONS 170(B)(1)(A)(I) THROUGH (VI). IN THE PAST FEW YEARS, MDIF HAS SOUGHT TO EXPAND ITS FUNDRAISING CAPABILITIES TO GENERATE GREATER PUBLIC SUPPORT. THE ORGANIZATION'S WEBSITE OFFERS SEVERAL DIFFERENT INVESTMENT OPPORTUNITIES TO ATTRACT A WIDER POOL OF POTENTIAL FUNDERS. MDIF ALSO CONDUCTS WORLDWIDE MEDIA FORUMS AND WORKSHOPS TO SEEK GENERAL SUPPORT AND PARTNERSHIPS TO FINANCE INDEPENDENT NEWS COMPANIES. THESE ACTIVITIES TARGET PROSPECTIVE DONORS WHO SUPPORT MDIF'S MISSION AND PROGRAMS.2. PERCENTAGE OF FINANCIAL SUPPORT - MDIF'S PUBLIC SUPPORT PERCENTAGE EXCEEDS 12%. THE HIGHER THE PERCENTAGE OF SUPPORT ABOVE THE 10 PERCENT REQUIREMENT OF PARAGRAPH (F)(3)(I) OF 1.170A-9, THE LESSER WILL BE THE BURDEN OF ESTABLISHING THE PUBLICLY SUPPORTED NATURE OF THE ORGANIZATION THROUGH OTHER FACTORS DESCRIBED IN PARAGRAPH (F)(3). MDIF'S PUBLIC SUPPORT PERCENTAGE IS RELATIVELY LOW BECAUSE, AS NOTED ABOVE, COVID IMPACTED NEW FUNDRAISING ACTIVITIES WHILE LARGE CONTRIBUTIONS FROM A PRIVATE FOUNDATION WERE UNAFFECTED BY THE PANDEMIC.3. SOURCES OF SUPPORT - MDIF HAS HISTORICALLY RECEIVED SUPPORT FROM GOVERNMENTAL ENTITIES; DUE TO GLOBAL PRESSURES ON PUBLIC BUDGETS, THE AMOUNTS OF THESE DONATIONS HAVE BEEN SIGNIFICANTLY REDUCED. AS THE ECONOMY REBOUNDS, THE HOPE IS THAT MDIF WILL SEE AN INCREASE IN FUNDING. MDIF IS ACTIVELY ENGAGED WITH THE USAID AND DEPARTMENT OF STATE WORKING ON VARIOUS MEDIA SUPPORT PROGRAMS PRIMARILY IN THE WESTERN BALKANS.4. REPRESENTATIVE GOVERNING BODY - MDIF HAS A GOVERNING BODY THAT IS BROADLY REPRESENTED BY MEMBERS OF THE COMMUNITY. EACH OF THESE FACTORS ARE SIGNIFICANT POSITIVE EVIDENCE OF MDIF'S PUBLICLY SUPPORTED NATURE. SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER PRI INCOME - 2016 AMOUNT: $ 22,075. 2017 AMOUNT: $ 280,388. ADMINISTRATIVE FEES - 2016 AMOUNT: $ 61,751. FOREIGN REALIZED GAIN - 2019 AMOUNT: $ 9,515. 2020 AMOUNT: $ 31,229. MICELLANEOUS - 2016 AMOUNT: $ 163,885. 2018 AMOUNT: $ 30,221. 2019 AMOUNT: $ 12,036. 2020 AMOUNT: $ 12,618. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 373000 351279 21721 518690 505545 13145 396367 388010 8357 43223 PRINT 13958590 F TELEVISION 923210 F RADIO 1524536 F NATIVE DIGITAL 11794191 F UNREMITTED EQUITY IN NET -4330906 C ALLOWANCE FOR DOUBTFUL ACCOUNTS -6088472 C 17781149 RESTRICTED CASH 1742580 SECURITY DEPOSITS 110471 RECEIVABLE FROM AFFILIATES 261398 2114449 DEFERRED CAPITAL GAIN ON PRIS 518891 DEFERRED RENT 63757 582648 X 10247970 1065881 37770 -841556 262095 9985875 26708 26708 10012583 11647512 37770 100339 138109 11509403 26708 -375 26333 11535736 PART X, LINE 2: THE FUND BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2020 AND 2019 IN ACCORDANCE WITH FASB ASC TOPIC 740, INCOME TAXES, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITIES' REVENUE 373,708. CONSOLIDATING ELIMINATION -424,057. EQUITY IN NET LOSSES OF INVESTEES -791,207. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITIES' EXPENSES 430,482. CONSOLIDATING ELIMINATION -330,143. PART XII, LINE 4B - OTHER ADJUSTMENTS: REIMBURSEMENT OF RELATED ENTITY EXPENSES -375. 0 EUROPE 1 12 INVESTMENTS 616000 SOUTH AMERICA 0 0 INVESTMENTS 100000 SUB-SAHARAN AFRICA 0 0 INVESTMENTS 500000 SOUTH ASIA 0 0 INVESTMENTS 1150000 EUROPE 1 12 PROGRAM SERVICE GRANTMAKING 125708 SOUTH AMERICA 0 0 PROGRAM SERVICE GRANTMAKING 266500 SOUTHEAST ASIA 0 0 PROGRAM SERVICE GRANTMAKING 1393061 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICE GRANTMAKING 270147 2 24 0 0 2 24 4421416 0 4421416 AFRICA TA GRANT 10000 ASIA TA GRANT 774091 ASIA TA GRANT 1920 EASTERN EUROPE/EUROPE TA GRANT 9850 EASTERN EUROPE/EUROPE TA GRANT 25000 EASTERN EUROPE/EUROPE TA GRANT 24000 EASTERN EUROPE/EUROPE TA GRANT 43500 EASTERN EUROPE/EUROPE TA GRANT 23358 SOUTH AMERICA TA GRANT 25000 SOUTH AMERICA TA GRANT 7500 SOUTH AMERICA TA GRANTS 225000 SOUTH AMERICA TA GRANT 9000 SOUTH-CENTRAL ASIA TA GRANT 30000 SOUTHEAST ASIA TA GRANT 2790 SOUTHEAST ASIA TA GRANT 2600 SOUTHEAST ASIA TA GRANT 3000 SOUTHEAST ASIA TA GRANT 3000 SOUTHEAST ASIA TA GRANT 3000 SOUTHEAST ASIA TA GRANT 2880 SOUTHEAST ASIA TA GRANT 2645 SOUTHEAST ASIA TA GRANT 2925 SOUTHEAST ASIA TA GRANT 2960 SOUTHEAST ASIA TA GRANT 375 SOUTHEAST ASIA TA GRANT 2960 SOUTHEAST ASIA TA GRANT 2600 SOUTHEAST ASIA TA GRANT 2945 SOUTHEAST ASIA TA GRANT 3000 SOUTHEAST ASIA TA GRANT 3000 SOUTHEAST ASIA INDIRECT GRANT 229955 SOUTHEAST ASIA TA GRANT 2370 SOUTHEAST ASIA TA GRANT 8400 SOUTHEAST ASIA TA GRANT 24755 SOUTHEAST ASIA INDIRECT GRANT 10671 SOUTHEAST ASIA TA GRANT 25000 SOUTHEAST ASIA TA GRANT 23679 SOUTHEAST ASIA TA GRANT 15000 SOUTHEAST ASIA TA GRANT 5050 SOUTHEAST ASIA TA GRANT 55905 SOUTHEAST ASIA TA GRANT 13640 SOUTHEAST ASIA TA GRANT 8900 SOUTHEAST ASIA TA GRANT 25000 SOUTHEAST ASIA TA GRANT 6740 SOUTHEAST ASIA TA GRANT 10860 SOUTHEAST ASIA TA GRANT 29300 SOUTHEAST ASIA TA GRANT 2525 SOUTHEAST ASIA TA GRANT 8200 SOUTHEAST ASIA TA GRANT 8640 SOUTHEAST ASIA TA GRANT 19929 SOUTHEAST ASIA TA GRANT 11850 SUB SAHARAN AFRICA TA GRANT 10070 SUB SAHARAN AFRICA TA GRANT 25000 SUB SAHARAN AFRICA TA GRANT 19000 SUB SAHARAN AFRICA TA GRANT 9561 SUB SAHARAN AFRICA TA GRANT 21067 SUB SAHARAN AFRICA TA GRANT 32740 SUB SAHARAN AFRICA TA GRANT 18707 SUB SAHARAN AFRICA TA GRANT 50000 SUB SAHARAN AFRICA TA GRANT 11198 SUB SAHARAN AFRICA TA GRANT 12100 SUB SAHARAN AFRICA TA GRANT 9907 SUB SAHARAN AFRICA TA GRANT 8000 SUB SAHARAN AFRICA TA GRANT 20284 SUB SAHARAN AFRICA TA GRANT 12513 64 0 0 1 0 0 0 PART I, LINE 2: APPLYING FOR MDIF FINANCING IS A DETAILED PROCESS THAT USUALLY TAKES SEVERAL MONTHS. MDIF UNDERTAKES A RIGOROUS PROCESS TO FULLY UNDERSTAND A BENEFICIARY'S BUSINESS AND THE INTENDED USE OF THE FUNDS TO BE GRANTED OR INVESTED IN THE ORGANIZATION. POTENTIAL BENEFICIARIES NEED TO UNDERSTAND THE DEMANDS THAT MDIF WILL MAKE ON THEM SHOULD THEIR APPLICATION BE SUCCESSFUL, SUCH AS INTENDED AND ACTUAL USE OF FUNDS. TO BE ELIGIBLE TO APPLY FOR MDIF FINANCING, A MEDIA OUTLET MUST HAVE BEEN OPERATING LEGALLY IN ITS HOME COUNTRY FOR AT LEAST A YEAR, ALTHOUGH THE BOARD MAY WAIVE THE ONE-YEAR REQUIREMENT WHEN THE MISSION SO REQUIRES, HAVE AN ESTABLISHED REPUTATION FOR PROMOTING DEMOCRATIC INSTITUTIONS AND PRACTICES AND EXERCISING THE PRINCIPLES OF A FREE, INDEPENDENT AND RESPONSIBLE PRESS, DEVOTE A SIGNIFICANT PART OF EDITORIAL CONTENT OR PROGRAMMING TO FACT-BASED NEWS AND DOCUMENTARIES, INDEPENDENT FROM THE INFLUENCE OF THE GOVERNMENT OR ANY OTHER INTEREST GROUP, OFFER COVERAGE OF DIFFERENT POLITICAL OPINIONS AND PROMOTE HUMAN RIGHTS, THE RIGHTS OF ETHNIC MINORITIES AND INTER-ETHNIC CO-EXISTENCE, NOT BE OWNED BY THE GOVERNMENT, A STATE AGENCY, A FOREIGN LEGAL ENTITY, OR AN OLIGARCH BUSINESS INTEREST THAT MAY INTERFERE WITH EDITORIAL INDEPENDENCE FOR ITS OWN INTERESTS, PRESENT A DETAILED PROJECT AIMED AT BROADENING AND STRENGTHENING THE OUTLET'S OPERATION, HAVE STRONG PROSPECTS OF BEING ABLE TO BECOME SELF SUSTAINING, ENSURE THAT FUNDS WILL BE USED AS STIPULATED, AND PROVIDE MDIF WITH UNRESTRICTED ACCESS TO ACCOUNTING RECORDS. PART III ACCOUNTING METHOD: SCHEDULE F, PART I, LINE 3, COLUMN F: MDIF HAS REPORTED TWO DIFFERENT TYPES OF TRANSACTIONS ON SCHEDULE F: 1. GRANTS MADE TO FOREIGN ORGANIZATIONS. THESE ARE DETAILED IN PART OF SCHEDULE F AND THE SUM REPORTED IN PART I TIES BACK TO FORM 990, PART IX, LINE 3. 2. LOAN AND EQUITY DISBURSEMENTS MADE TO FOREIGN ORGANIZATIONS DURING THE CURRENT YEAR. THE AMOUNTS REPORTED IN PART I, LINE 3, COLUMN (F) REPRESENT THE PROGRAM RELATED INVESTMENTS MDIF DISBURSED IN THE FORM OF LOANS, FINANCE LEASES AND EQUITY INVESTMENTS TO NEWSPAPER PUBLISHERS, TV, RADIO STATIONS, PRINTING HOUSES, NEWS AGENCIES AND ONLINE PUBLISHERS IN VARIOUS COUNTRIES. THE AMOUNTS LISTED REPRESENT THE CURRENT YEAR EXPENDITURES AND NOT THE CUMULATIVE VALUE OF MDIF'S INVESTMENTS. SCHEDULE F, PART IV: MEDIA DEVELOPMENT INVESTMENT FUND, INC. HOLDS SEVERAL PROGRAM RELATED INVESTMENTS OUTSIDE THE UNITED STATES. TO THE EXTENT THAT ITS OWNERSHIP OF THESE INVESTMENTS EXCEEDS THE THRESHOLDS FOR REQUIRING A FORM 926 OR FORM 5471, THOSE FILINGS HAVE BEEN ATTACHED TO THE ORGANIZATION'S FORM 990 AS REQUIRED. X X 0 0 0 0 0 0 0 0 0 HARLAN MANDEL CHIEF EXECUTIVE OFFICER 268389 0 0 0 2427 0 40203 0 29849 0 340868 0 0 0 TELING PETERSON CHIEF FINANCIAL OFFICER 179939 0 0 0 2378 0 27271 0 40176 0 249764 0 0 0 ELENA POPOVIC SECRETARY/GENERAL COUNSEL 175367 0 0 0 801 0 26305 0 18103 0 220576 0 0 0 RASHID MALIK PRINCIPAL INVESTMENT OFFICER 158425 0 0 0 409 0 21127 0 36608 0 216569 0 0 0 KEVIN BROCKLAND PRINCIPAL INVESTMENT OFFICER 134808 0 0 0 214 0 13481 0 28960 0 177463 0 0 0 PATRICE SCHNEIDER CHIEF STRATEGY OFFICER 159978 0 0 0 0 0 0 0 0 0 159978 0 0 0 FORM 990, PART I, LINE I MEDIA DEVELOPMENT INVESTMENT FUND, INC. (MDIF) INVESTS IN INDEPENDENT MEDIA AROUND THE WORLD PROVIDING THE NEWS, INFORMATION AND DEBATE THAT PEOPLE NEED TO BUILD FREE, THRIVING SOCIETIES. FORM 990 PART III, LINE 1, DESCRIPTION OF MDIF'S MISSION CONTINUATION: WE INVEST IN MEDIA THAT PROVIDE THE NEWS, INFORMATION AND DEBATE THAT PEOPLE NEED TO BUILD FREE, THRIVING SOCIETIES. MDIF HAS INVESTED MORE THAN $255 MILLION IN 131 INDEPENDENT NEWS BUSINESSES IN 44 COUNTRIES SINCE 1996. WHY WE ARE HERE: TIMELY, ACCURATE, RELEVANT INFORMATION IS CRITICAL TO FREE SOCIETIES. IT ENABLES FULLER PARTICIPATION IN PUBLIC LIFE, HOLDS THE POWERFUL TO ACCOUNT AND PROTECTS THE RIGHTS OF THE INDIVIDUAL. HOW WE CHOOSE CLIENTS AND AREAS OF OPERATIONS: MDIF INVESTS IN INDEPENDENT MEDIA COMPANIES IN A RANGE OF COUNTRIES WHERE ACCESS TO FREE AND INDEPENDENT MEDIA IS UNDER THREAT. CLIENTS ARE SELECTED BASED ON THREE BROAD CRITERIA: MISSION IMPACT IN RELATION TO INVESTMENT; POTENTIAL FOR LONG-TERM VIABILITY; EDITORIAL INTEGRITY. HOW WE WORK: MDIF FINANCIAL INVESTMENTS INCLUDE AFFORDABLE LOANS, EQUITY INVESTMENTS, LOAN GUARANTEES AND TECHNICAL ASSISTANCE GRANTS. MDIF MOBILIZES OTHER INVESTORS TO MAXIMIZE THE IMPACT OF ITS FINANCING. MDIF SEEKS TO ESTABLISH LONG-TERM RELATIONSHIPS WITH ITS CLIENTS, WHICH MAY INVOLVE ADVICE AND ASSISTANCE IN BUSINESS PLANNING, MEDIA MANAGEMENT AND OTHER TECHNICAL SUPPORT. PROVIDING ACCESS TO CAPITAL: MDIF CLIENTS ARE STARVED OF CAPITAL BECAUSE THEY WORK IN ENVIRONMENTS WITH POORLY DEVELOPED BANKING SYSTEMS, DISTORTED MARKETS AND UNFAVORABLE INVESTMENT CLIMATES. OFTEN, THEY WORK IN TRANSITION ECONOMIES OR UNDER GOVERNMENTS THAT ARE HOSTILE TO THE IDEA OF FREE AND INDEPENDENT MEDIA. IN ALL CASES, A LACK OF FUNDS IS THE MAIN OBSTACLE TO THEIR GROWTH AND DEVELOPMENT AND SERIOUSLY HAMPERS THEIR ABILITY TO BE COMMERCIALLY VIABLE AND SELF-SUSTAINING. THE CHANGING LANDSCAPE OF MEDIA AND INVESTMENT IN THE LAST DECADE: A TECHNOLOGICAL REVOLUTION HAS TRANSFORMED THE MEDIA BUSINESS AND THE WAY PEOPLE ACCESS NEWS AND INFORMATION ACROSS THE WORLD. DIGITAL NEWS VENTURES (DNV), A SUBSIDIARY OF MDIF, INVESTS IN EXPERIMENTAL DIGITAL PRODUCTS AND BUSINESSES THAT CONTRIBUTE TO THE PROVISION OF INFORMATION IN THE PUBLIC INTEREST. FORM 990, PART III, LINE 4A CONTINUATION: IN DETERMINING WHETHER TO MAKE A PRI, MDIF FACES BOTH COUNTRY AND LEGAL RISKS. MDIF MAKES PRIS IN COUNTRIES WHERE POLITICAL AND ECONOMIC STABILITY MAY BE OF CONCERN. THIS TYPE OF RISK IS ASSESSED BEFORE THE ORGANIZATION STARTS OPERATIONS IN A CERTAIN COUNTRY. THE LEGAL RISK MAY ARISE AS A RESULT OF MAKING LOANS AND OTHER PROGRAM RELATED INVESTMENTS IN COUNTRIES WITH DIFFERING LEGAL SYSTEMS THAN THOSE OF THE UNITED STATES OF AMERICA. THOSE SYSTEMS ARE SOMETIMES CHARACTERIZED BY UNCERTAINTY AND A LACK OF INDEPENDENT LEGAL INSTITUTIONS, INCLUDING THE JUDICIARY. FORM 990, PART V, LINE 2A: THE ORGANIZATION USES A PROFESSIONAL EMPLOYMENT ORGANIZATION TO REPORT PAYROLL. THE W-2S ARE REPORTED UNDER TRINET INC., AND UNDER THEIR EIN # 48-1304650. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION USES THE SERVICES OF A CONTRACTED DEPUTY CEO, MOHAMED NANABHAY, AND PAID $246,949 FOR THESE SERVICES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 HAS BEEN PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS FOR APPROVAL PRIOR TO FILING. ONCE APPROVED, A COPY OF THE FORM 990 WAS PROVIDED TO THE FULL BOARD. THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTANT AND REVIEWED IN DETAIL BY THE FUND'S CEO, CFO, AND GENERAL COUNSEL. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER, DIRECTOR, AND KEY EMPLOYEE OF MDIF IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR EMPLOYMENT, BOARD SERVICE, OR POSITION WITH MDIF. MDIF MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE/DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 MEDIA DEVELOPMENT INVESTMENT FUND'S BOARD OF DIRECTORS HAS AUTHORIZED THE COMPENSATION COMMITTEE TO CONDUCT A REVIEW OF THE CHIEF EXECUTIVE OFFICER'S PERFORMANCE AND DETERMINE HIS COMPENSATION PACKAGE. THE COMMITTEE IS COMPRISED OF INDEPENDENT DIRECTORS (THE CHAIR AND THE VICE-CHAIR) WHO ESTABLISH THE CEO'S COMPENSATION COMMENSURATE WITH THE SALARIES PAID BY SIMILAR ORGANIZATIONS IN BOTH THE NOT-FOR-PROFIT AND IMPACT INVESTING SECTORS. THE COMMITTEE THEN REPORTS ITS FINDINGS TO THE FULL BOARD OF DIRECTORS AND RECOMMENDS A COMPENSATION PACKAGE. THE FULL BOARD REVIEWS THE COMMITTEE'S RECOMMENDATIONS AND APPROVES THE FINAL COMPENSATION PACKAGE. FORM 990, PART VI, LINE 15B: THE BOARD OF DIRECTORS HAS FULLY DELEGATED THE AUTHORITY TO REVIEW PERFORMANCE AND SET THE COMPENSATION OF MDIF'S OTHER OFFICERS TO THE CHIEF EXECUTIVE OFFICER. IN MAKING THE DETERMINATION, THE CEO EMPLOYS THE SAME COMPARABILITY METRICS AS THE COMPENSATION COMMITTEE UTILIZES (AS OUTLINED IN PART VI, SECTION B, LINE 15A NARRATIVE). FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE PUBLIC REQUEST AND AT MANAGEMENT'S DISCRETION. FORM 990, PART XI, LINE 9: EQUITY IN NET LOSSES OF INVESTEES -791,207. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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