2020-11-16T06:31:54-06:00 2019-12-31 BDO USA LLP 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2019-01-01 132535763 Accion International % LIVINGSTON PARSONS III ACCI 6176257020 10 Fawcett Street Suite 204 Cambridge MA 02138 LIVINGSTON PARSONS III CFO 6176257020 2020-11-13 true Joyce Underwood P00022361 7038930600 96.255.89.63 54621820203215000002 2020-11-16 P F80C4C4CE64063363A32333BB37C43EAD2BBFD59 9D37B491AB1CAEBFC8367D392888D1FDB5C2C65F 2019 2021-01-29 14:40:06Z MICHAEL SCHLEIN 10 FAWCETT STREET STE 204 Cambridge MA 02138 33825770 false X WWW.ACCION.ORG X 1965 NY ACCION COMBINES DECADES OF EXPERIENCE WITH INSIGHTS INTO EMERGING TECHNOLOGIES TO BUILD A FINANCIALLY INCLUSIVE WORLD AND PROMOTE ECONOMIC ACTIVITY FOR ALL. 11 11 131 15 0 5279974 19174205 4006418 4268972 12578716 4272268 443 49 21865551 27715494 3388996 3782587 0 0 15905137 16625809 0 0 2078684 10424320 9696475 29718453 30104871 -7852902 -2389377 317726550 376902980 4560263 5117124 313166287 371785856 X TO GIVE PEOPLE THE FINANCIAL TOOLS THEY NEED TO IMPROVE THEIR LIVES. false false 9424684 3604080 1690869 SEE SCHEDULE O 6618730 100000 1833913 SEE SCHEDULE O 5713434 78507 744190 SEE SCHEDULE O 1445267 0 0 23202115 true true false false false false false false false false true false true false false true true true false true true true true false false false false false false true false false false false false false false false true false false false true true true true true false true 55 0 true 131 true true true true MP IN CH CO PE false false false false false false false false false false X 11 11 false false false false false false false true true false false true true true true true true true true true true AL AR CA FL GA HI IL IN KS KY MD MA MI MN MS NH NJ NM NY OK OR PA RI SC TN UT VA WV WI X X LIVINGSTON PARSONS III 6176257020 10 FAWCETT STREET STE 204 CAMBRIDGE MA 02138 X MICHAEL SCHLEIN PRESIDENT & CEO 50.0 0.0 X 639067 0 33614 ESTEBAN ALTSCHUL COO 50.0 0.0 X 602346 0 68978 JOHN FISCHER CIO 50.0 0.0 X 160923 354097 58833 BRIAN CLANCY CDO 50.0 0.0 X 311630 0 45859 ELIZABETH RHYNE CFI SENIOR VP. 50.0 0.0 X 335618 0 14028 LIVINGSTON PARSONS III CFO 50.0 0.0 X 293497 0 48407 VICTORIA WHITE GLAS SENIOR VP. 50.0 0.0 X 272021 0 57581 KEVIN SAUNDERS ASSISTANT SEC AND GENL COUNSEL 50.0 0.0 X 261175 0 50262 VIKAS RAJ VENTURE LAB SENIOR VP. 50.0 0.0 X 245176 0 43248 JAMES ROSENBERG CCO 50.0 0.0 X 251677 0 33750 TAHIRA DOSANI VENTURE LAB SENIOR VP. 50.0 0.0 X 249078 0 25797 ELLEN BAUER ASSIST SECRETARY/BOARD LIAISON 50.0 0.0 X 74360 0 14884 DIANA TAYLOR CHAIR 6.0 0.0 X X 0 0 0 RON HOGE TREASURER 6.0 0.0 X X 0 0 0 PHILLIP RIESE SECRETARY 6.0 0.0 X X 0 0 0 HENRY MILLER DIRECTOR 6.0 0.0 X 0 0 0 TITUS BRENNINKMEIJER DIRECTOR 1.0 0.0 X 0 0 0 TARA KENNEY DIRECTOR 1.0 0.0 X 0 0 0 THOMAS BARRY DIRECTOR 1.0 0.0 X 0 0 0 BARBARA LUCAS DIRECTOR 1.0 0.0 X 0 0 0 ELIZABETH McCAUL DIRECTOR 1.0 0.0 X 0 0 0 MICHAEL MIEBACH DIRECTOR 1.0 0.0 X 0 0 0 BOB ANNIBALE DIRECTOR 1.0 0.0 X 0 0 0 SHIRISH APTE DIRECTOR 1.0 0.0 X 0 0 0 3696568 354097 495241 37 false true false QUONA CAPITAL MANAGEMENT LTD PO BOX 1008 WILLOW HOUSE CRICKET GRAND CAYMAN 0 CJ INV. 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PORTFOLIO MGMT. 182953 ISTRATEGYLABS LLC 641 S STREET NW FL 1 WASHINGTON DC 20001 website builder 182655 SIDLEY AUSTIN LLP PO BOX 0642 CHICAGO IL 60690 legal fees 171212 REED SMITH LLP PO BOX 10096 UNIONDALE NY 11555 legal fees 196530 7 4590 19169615 73918 19174205 DIVIDENDS FROM PROGRAM INVESTMENTS 523920 417260 417260 0 0 CONTRACT REVENUE 541900 2130340 2130340 0 0 CONFERENCE FEES REVENUE 900099 485096 485096 0 0 HONORARIUM,BOARD REPRESENTATION FEES 900099 206453 206453 0 0 MEMBERSHIP FEES 541900 239390 239390 0 0 790433 790433 0 0 4268972 2144864 2144864 0 49 49 0 0 0 8237680 6110276 2127404 2127404 2127404 0 0 0 0 0 0 0 0 0 0 27715494 4268972 0 4272317 0 0 3782587 3782587 0 2619600 1099289 1162452 357859 0 11217447 9030665 1307720 879062 548908 406390 81209 61309 1357000 835710 377482 143808 882854 570417 219811 92626 0 27232 -2792 29993 31 218429 18050 200379 0 0 0 617609 387170 190564 39875 2525349 2341501 142150 41698 133990 72063 1564 60363 484316 276411 144457 63448 493053 311534 115954 65565 0 1222515 692123 404293 126099 1907297 1567113 255557 84627 0 899899 855484 33738 10677 56140 45290 10850 0 0 262933 156603 73352 32978 151809 104223 34151 13435 ALL OTHER 695904 652284 38396 5224 30104871 23202115 4824072 2078684 1412052 1646326 80012139 75282885 5297168 12146652 1385014 1015139 0 0 0 0 200000 453061 0 0 956127 1213689 3065128 1980697 1347362 1084431 3351551 3392262 0 0 223542365 276454975 0 0 222772 4213560 317726550 376902980 3780558 4481913 0 0 579705 435211 0 0 0 0 0 0 0 0 200000 200000 0 0 4560263 5117124 X 300967754 351766873 12198533 20018983 313166287 371785856 317726550 376902980 X -2389377 26968364 34040582 X X false true X true false X 13315273 14437212 9423851 5279974 19174205 61630515 0 0 13315273 14437212 9423851 5279974 19174205 61630515 35183478 26447037 2987416 3221524 3211961 2554130 2144913 14119944 0 0 75750459 23715631 0.34913 0.39202 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1939142 988072 951070 225642 216995 8647 900344 775630 124714 1084431 BANCO SOLIDARIO S.A 109260685 C ACCION AFRICA ASIA 40141928 F GRASSLAND FINANCE LIMITED 19215455 F ACCION FRONTIER INCLUSION FUND 35678072 C DAWN MYANMAR 13671497 F OTHER PROGRAM REL. INVESTMENT 58487338 C 276454975 0 0 X 90025103 26968364 1300664 34040581 62309609 27715494 27715494 31405536 1300665 1300665 30104871 30104871 Schedule D Part X Line 2 Accion is a tax-exempt organization as described in Section 501(c)(3) of the Internal Revenue Code ("IRC") and is generally exempt from income taxes pursuant to Section 501(a). Centro and ATA are registered charitable organizations in Colombia and India, respectively. Gateway, AFIF GP, AFIF LP, and AVL GP, single member limited liability companies, are fully consolidated on the federal form 990 of their single member, Accion. ACC, AAIC and AINV Nigeria (see Note 2) are taxable subsidiaries of Accion, filing their own tax returns. The income tax consequences, if any, are reflected in the consolidated financial statements, and do not have a material effect, individually or in the aggregate, upon Accions consolidated financial statements. Accion believes it has taken no uncertain tax positions. Schedule D, PART XI, LINE 2D - OTHER ADJUSTMENTS: EQUITY IN INCOME OF EQUITY INVESTMENTS $34,040,444 CURRENCY GAIN (LOSS) ON CONSOLIDATION 137 TOTAL TO SCHEDULE D, PART XI, LINE 2D $34,040,581 true Central America and the Caribbean 0 0 Program Services see part V 21380 East Asia and the Pacific 1 2 Program Services see part V 676681 Europe (Including Iceland and Greenland) 0 2 Program Services see part V 202709 Middle East and North Africa 0 0 Program Services see part V 23287 North America 0 0 Program Services see part V 128207 South America 1 25 Program Services see part V 1366976 South Asia 1 18 Program Services see part V 718644 Sub-Saharan Africa 0 7 Program Services see part V 824171 Central America and the Caribbean Investments 56022673 East Asia and the Pacific Investments 33486952 Europe (Including Iceland and Greenland) Investments 11657169 Middle East and North Africa Investments 128883 North America Investments 8244402 South America Investments 116266188 South Asia Investments 1563401 Sub-Saharan Africa Investments 41916966 3 54 3 54 273248689 273248689 South America FIELD OPS 1761719 WIRE South Asia FIELD OPS 1232595 WIRE Central America and the Caribbean Program Asst 12156 WIRE South Asia Program Asst 100000 WIRE South America Program Asst 224214 WIRE North America Program Asst 213570 WIRE East Asia and the Pacific program Assistance 56142 WIRE Sub-Saharan Africa Program Assistance 100000 WIRE Europe (Including Iceland and Greenland) program assistance 75732 WIRE 4 10 true false true false true true Schedule F, PART I, LINE 2: ACCION's Accounting and Resource Development departments oversee the receipt, Distribution and use of grant funds, and provide donors with detailed reports based thereon. Schedule F, PART I, COLUMN E: IF ACTIVITY LISTED IN PART I, COLUMN (D) IS A PROGRAM SERVICE, FOLLOWING IS THE SPECIFIC TYPE OF SERVICE IN THE REGION: MICROFINANCE-TECHNICAL ASSISTANCE, EDUCATION AND INVESTMENTS. Schedule F, PART I, II, III: THE ACCOUNTING METHOD USED FOR PARTS I, II AND III IS US GAAP/ACCRUAL BASIS. X X X true true X X X X X X false true false false false false false true false MICHAEL SCHLEIN PRESIDENT & CEO 488913 0 147638 0 2516 0 0 0 33614 0 672681 0 0 0 ESTEBAN ALTSCHUL COO 334114 0 70231 0 198001 0 21000 0 47978 0 671324 0 0 0 LIVINGSTON PARSONS III CFO 226922 0 38531 0 28044 0 19266 0 29141 0 341904 0 0 0 KEVIN SAUNDERS ASSISTANT SEC AND GENL COUNSEL 198635 0 44000 0 18540 0 16500 0 33762 0 311437 0 0 0 BRIAN CLANCY CDO 233908 0 52000 0 25722 0 19500 0 26359 0 357489 0 0 0 JOHN FISCHER CIO 96095 221243 53738 0 11090 132854 7586 36651 0 14596 168509 405344 0 0 ELIZABETH RHYNE CFI SENIOR VP. 175766 0 128015 0 31837 0 14028 0 0 0 349646 0 0 0 TAHIRA DOSANI VENTURE LAB SENIOR VP. 191369 0 42000 0 15709 0 15750 0 10047 0 274875 0 0 0 VIKAS RAJ VENTURE LAB SENIOR VP. 202690 0 42000 0 486 0 15750 0 27498 0 288424 0 0 0 VICTORIA WHITE GLAS SENIOR VP. 207575 0 47124 0 17322 0 17671 0 39910 0 329602 0 0 0 JAMES ROSENBERG CCO 214157 0 32130 0 5390 0 7347 0 26403 0 285427 0 0 0 Schedule J Part I Line 1a: Housing allowance, tax indemnification and once a year home leave for employees and the members of their families were provided to Esteban Altschu and John Fischer as part of an expatriate benefit package during their temporary assignment to a foreign office. Schedule J, PART I, LINE 4b: Vikas Raj and Tahira Dosani were participants in a 457(f) plan. The applicable amounts for 2019 were $0 for both. Schedule J, PART I, LINE 7: Employees identified in Schedule J, Part II(A), lines 1 - 11 were eligible for limited incentive compensation based upon performance in the prior tax year. Any such compensation that is awarded is part of and subject to the total compensation review and approval process. X 14 73918 Market value false true false SCHEDULE M, PART I, COLUMN (B): EXPLANATION: REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART III, LINE 4A: Global Programs: three billion people are left out of or poorly served by the worlds formal financial sector. They struggle in or near poverty and lack the financial tools they need to send their children to school, launch new businesses, or manage their day-to-day lives. Accion is a global nonprofit committed to creating a financially inclusive world. Accion helps families and businesses reach their economic potential and build better lives. Our global programs include the Accion Global Advisory Solutions team, which partners with financial service providers around the world to better meet the needs of underserved individuals and small businesses. The advisory team leverages Accions global insights and provides strategic and operational support in growth strategy and planning, customer strategy, digital channels, and other core processes that maximize the impact on and for clients. The advisory team also helps its partners develop better, more affordable financial products and services for underserved clients. FORM 990, PART III, LINE 4B: Global Investments: Accion invests in the products and services that benefit the worlds three billion financially underserved people, catalyzing and scaling innovation to address global need. By supporting inclusive fintech startups, microfinance institutions, and other financial service providers, providing them with high-caliber governance through board oversight, and/or advising on strategic and operational challenges, we create well-run, mission-driven, and efficient organizations that create demonstration models which encourage others to work toward a financially inclusive world. Accions seed-stage impact initiative, Accion Venture Lab, invests capital in, and provides support to, innovative fintech startups that increase access to, improve the quality of, or reduce the cost of financial services for the underserved at scale. FORM 990, PART III, LINE 4C: Center For Financial Inclusion: launched in 2008, the Center for Financial Inclusion at Accion (CFI) is an action-oriented think tank that engages and challenges the industry to better serve, protect, and empower clients. It develops insights, advocates on behalf of clients, and collaborates with stakeholders to achieve a comprehensive vision for financial inclusion. CFI advances financial inclusion through the production of data-driven research and analysis. In 2019, CFI published the "Handbook on Consumer Protection for Inclusive Finance" with updated and revised guidance for consumer financial protection regulators. CFI also led research in Rwanda to solicit input from low-income clients using digital financial services and assess the prevalence of consumer protection problems among these clients. The project served as a catalyst to improve client protection practices in ways that are grounded in client feedback. FORM 990, PART III, LINE 4D: Education and Communication: Accions communications articulate the need to create a financial sector that works for everyone, illustrate the human needs that financial services address, and show how financial inclusion accelerates both social and economic progress. In 2019, we worked with partners to launch the Inclusive Fintech 50 competition, which elevates promising early-stage fintechs driving financial inclusion and resilience around the globe. In its first year, the initiative attracted eligible applications from 400 early-stage fintechs. Through an independent judging panel and selection process, the initiative boosts the visibility of these startups among investors and partners who can help them scale to reach more of the worlds 3 billion financially underserved people. FORM 990, Part VI Section A Line 1a: THE EXECUTIVE COMMITTEE HAS BEEN DELEGATED AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS SUBJECT TO SUBSEQUENT RATIFICATION BY THE BOARD OF DIRECTORS. FORM 990, Part VI Section A Line 11b: PRIOR TO THE FILING OF THE FORM 990, THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS RECEIVES THE FORM 990 FOR REVIEW. EACH MEMBER OF THE BOARD OF DIRECTORS SUBSEQUENTLY RECEIVES A COPY OF THE REVIEWED FORM 990 BEFORE ACCION FILES IT WITH THE INTERNAL REVENUE SERVICE. FORM 990, Part VI Section A Line 12c: ACCION INTERNATIONAL'S CONFLICT OF INTEREST POLICY REQUIRES ANNUAL DISCLOSURE OF ACTUAL OR POTENTIAL CONFLICTS OF INTEREST, INCLUDING ALL TRANSACTIONS, FINANCIAL INTERESTS, CONTRACTS, OR POSITIONS, CONDUCTED OR HELD BY THE OFFICER, DIRECTOR, OR KEY EMPLOYEE OR IMMEDIATE MEMBER OF HIS/HER FAMILY, WITH ANY BUSINESSES, CORPORATIONS, PARTNERSHIPS, PROPRIETORSHIPS THAT CARRY OUT ANY BUSINESS ACTIVITIES WITH ACCION INTERNATIONAL OR ANY OF ITS SUBSIDIARIES, INVESTEES, AFFILIATES OR OTHER PERSONS OR INSTITUTIONS IN ANY RELATED TO ACCION INTERNATIONAL. IN ADDITION TO THE ANNUAL DISCLOSURE REQUIREMENT, OFFICERS, DIRECTORS, AND KEY EMPLOYEES MUST ALSO DISCLOSE ANY POTENTIAL OR REAL CONFLICT OF INTEREST AS THEY ARISE. EACH REAL OR POTENTIAL CONFLICT MUST BE EVALUATED BY INDEPENDENT, DISINTERESTED DIRECTORS SERVING ON THE AUDIT & GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS, AND IF A REAL OR POTENTIAL CONFLICT OF INTEREST IS DETERMINED TO EXIST, THAT CONFLICT SITUATION MUST BE DETERMINED TO BE FAIR AND REASONABLE TO THE CORPORATION AND THUS WAIVED BEFORE THE AFFECTED OFFICER, DIRECTOR, OR KEY EMPLOYEE MAY PROCEED. FORM 990, Part VI Section A Line 15: COMPENSATION FOR OFFICERS, INCLUDING THE CEO, AND KEY EMPLOYEES MUST BE APPROVED BY THE APPROPRIATE COMMITTEE OF THE BOARD OF DIRECTORS AFTER CONSIDERATION OF DATA PROVIDED BY THIRD PARTY EXPERTS WHICH INDICATES COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE BOARD COMMITTEE WILL MAINTAIN CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS. FORM 990, Part VI Line 19: ACCION INTERNATIONAL'S AUDITED FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, Part XI Line 9: Equity in income of equity investments $34,040,444 Currency gain (loss) on consolidation 137 ROUNDING 1 Total Other Changes in net Assets or Fund Balances $34,040,582 ACCION FRONTIER INCLUSION FUND LP LLC 10 FAWCETT ST STE 204 CAMBRIDGE MA 02138 SEE PART VII DE 8327 17364 ACCION INT ACCION FRONTIER INCLUSION FUND GP LLC 10 FAWCETT ST STE 204 CAMBRIDGE MA 02138 SEE PART VII DE 0 35704843 ACCION INT ACCION GATEWAY FUND LLC 10 FAWCETT ST STE 204 CAMBRIDGE MA 02138 SEE PART VII DE 16625311 194335251 ACCION INT ACCION QUONA INCLUSION FUND GP LLC 10 FAWCETT ST STE 2014 CAMBRIDGE MA 02138 SEE PART VII DE 6971 8936 ACCION INT ACCION QUONA INCLUSION FUND LP LLC 10 FAWCETT ST STE 204 CAMBRIDGE MA 02138 SEE PART VII DE 23786 4612715 ACCION INT ACCION VENTURE LAB GP LLC 10 FAWCETT STSTE204 CAMBRIDGE MA 02138 SEE PART VII DE 0 888 ACCION INT FUNDACION CENTRO ACCION MICROEMPRESARIAL CARRERA 7 146-65 7TH FLOOR BOGOTA D.C. CO See part VII CO FOUNDATION ACCION INT true ACCION TECHNICAL ADVISORS INDIA 9/3 KAISER-E-HIND1 FLRICHMOND RD BANGLORE IN 560025 SEE PART VII IN SEC 8 CO ACCION INT true ACCION INVEST IN MICROFINANCE NIGERIA INTERTRUST CORP SRV190 ELGIN AVE GEORGE TOWN GRAND CAYMAN CJ KY1-9005 SEE PART VII CJ SEE PART VII 277251 6276078 1.00000 false ACCION AFRICA-ASIA INVESTMENT COMPANY IFS COURT TWENTYEIGHT CYBERCITY EBENE MP SEE PART VII MP SEE PART VII 14102600 7709935 1.00000 false ACCION CONSULTATION SVCS CO LTD ROOM 606 BLD 3 WANDA PLAZANO93 BEIJING CHAOYANG CH SEE PART VII CH SEE PART VII 116777 87379 0.99000 false false true false false true false false false false false false false false false false true false false true FUNDACION CENTRO ACCION MICROEMPRESARIAL B 1761719 Cost ACCION TECHNICAL ADVISORS INDIA B 1232595 Cost ACCION AFRICA ASIA INVESTMENT COMPANY S 6530030 Cost ACCION INVESTMENTS IN MICROFINANCE IN NIGERIA B 2862770 Cost FUNDACION CENTRO ACCION MICROEMPRESARIAL E 8000 Cost ACCION (BEIJING)CONSULTATION SVCS COLTD P 61321 COST Schedule R, Part I, column (b): PRIMARY ACTIVITY: 1. PROGRAM RELATED INVESTMENT 2. PROGRAM RELATED INVESTMENT 3. PROGRAM RELATED INVESTMENT 4. PROGRAM RELATED INVESTMENT 5. PROGRAM RELATED INVESTMENT 6. PROGRAM RELATED INVESTMENT Schedule R, PART II, COLUMN (B): PRIMARY ACTIVITY: 1. Technical Assistance & Education Related to Microfinance 2. Technical Assistance & Education Related to Microfinance Schedule R, PART IV, COLUMN (A): FULL NAME: 1. ACCION INVESTMENTS IN MICROFINANCE NIGERIA 3. ACCION (BEJING) CONSULTAtion SERVICES CO, LTD Schedule R, PART IV, COLUMN (B): PRIMARY ACTIVITY: 1. Program Related Investment 2. Program Related Investment 3. Technical assistance and education related to microfinance Schedule R, PART IV, COLUMN (D): Direct Controlling Entity: 1. ACCION GATEWAY FUND, LLC 2. ACCION GATEWAY FUND, LLC 3. Accion International