2017-11-09T05:22:51-06:00 2016-12-31 131517563 LOEB & TROPER LLP 655 THIRD AVENUE 12TH FLOOR NEW YORK NY 10017 990 2016-01-01 133568629 FINANCIAL SERVICES VOLUNTEER CORPS INC FINA 2127711400 10 EAST 53RD STREET 36TH FLOOR NEW YORK NY 10022 JOHN D POMPAY CFO & COO & ASSISTANT TREASURER 2127711400 2017-11-08 1 AARON SHAPIRO P01333816 2128674000 38.98.118.70 2017-11-08 15:31:05 ES P D7076C0EC39B17C3336BFEA465ABF20A32036F2A 73A2BDB4DEE3E1301F7FB9DCBA9193E2BC5F7900 2016 2021-01-29 14:40:06Z JOHN D POMPAY 10 EAST 53RD STREET 36TH FLOOR NEW YORK NY 10022 5147960 0 X WWW.FSVC.ORG X 1990 DE TO HELP BUILD SOUND BANKING AND FINANCIAL SYSTEMS IN TRANSITIONAL AND DEVELOPING COUNTRIES. 17 16 14 124 0 0 6212751 4997697 225656 148000 880 2263 -5204 0 6434083 5147960 0 0 0 0 2530004 2477230 0 0 74689 2275275 2589467 4805279 5066697 1628804 81263 3479866 3572986 1432641 1402085 2047225 2170901 X FINANCIAL SERVICES VOLUNTEER CORPS (FSVC) IS A NOT-FOR-PROFIT, PRIVATE-PUBLIC PARTNERSHIP WHOSE MISSION IS TO HELP BUILD SOUND BANKING AND FINANCIAL SYSTEMS IN TRANSITIONAL & DEVELOPING COUNTRIES. FSVC'S CORE WORK CONCENTRATES ON STRENGTHENING COMMERCIAL BANKING SYSTEMS, DEVELOPING CENTRAL BANKING CAPABILITIES, AND BUILDING CAPITAL MARKETS. MAJOR ADDITIONAL AREAS OF WORK INCLUDE THE LEGAL FRAMEWORK FOR THE FINANCIAL SYSTEM, PAYMENTS SYSTEMS DEVELOPMENT, PENSION REFORM AND THE COMBATING OF MONEY LAUNDERING AND FINANCIAL CORRUPTION. FSVC STRUCTURES PRACTICAL, RESULTS-ORIENTED TECHNICAL ASSISTANCE AND TRAINING MISSIONS STAFFED BY FINANCIAL SECTOR PRACTITIONERS WHO SERVE AS UNPAID VOLUNTEERS. 0 0 1156205 STATE DEPTARTEMENT PROGRAM IN SOMALIA - WITH FUNDING FROM THE U.S. DEPARTMENT OF STATE'S BUREAU OF COUNTERTERRORISM, FSVC HAS BEEN IMPLEMENTING A PROGRAM OF TECHNICAL ASSISTANCE SINCE 2015 TO HELP STRENGTHEN THE FINANCIAL SECTOR IN SOMALIA AND ITS ABILITY TO INTERMEDIATE EFFECTIVELY FINANCIAL FLOWS. SPECIFICALLY, FSVC'S PROGRAM AIMS TO SUPPORT THE CENTRAL BANK OF SOMALIA (CBS)'S EFFORTS TO ADDRESS THE CRITICAL FINANCIAL SECTOR REFORMS TO ADHERE TO THE RECOMMENDATIONS OF THE FINANCIAL ACTION TASK FORCE, AND ALLAY CONCERNS OF INTERNATIONAL REGULATORY BODIES. IN 2016, FSVC COMPLETED SEVERAL PROJECTS, INCLUDING AN IN-DEPTH ASSESSMENT TO DETERMINE THE CURRENT STATE OF THE FINANCIAL SECTOR OF SOMALIA, INCLUDING THE CBS, BANKS AND NON-BANK FINANCIAL INSTITUTIONS. OTHER PROJECTS INCLUDED HELPING THE CBS DEVELOP DRAFT ANTI-MONEY LAUNDERING/COMBATING THE FINANCING OF TERRORISM (AML/CFT) REGULATIONS FOR THE FINANCIAL SECTOR, AS WELL AS DRAFTING ITS INTERNAL AML/CFT POLICIES AND PROCEDURES. 827759 USAID/VEGA PROGRAM IN ALBANIA - WITH FUNDING FROM THE UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT (USAID), VIA THE VOLUNTEERS FOR ECONOMIC GROWTH ALLIANCE (VEGA), FSVC IMPLEMENTED 12 PROJECTS IN 2016 UNDER ITS FINANCIAL SECTOR DEVELOPMENT PROGRAM IN ALBANIA. THIS PROGRAM AIMS TO PROMOTE FINANCIAL STABILITY IN ALBANIA AND STRENGTHEN ITS FINANCIAL SECTOR BY IMPROVING THE QUALITY AND CONSISTENCY OF FINANCIAL SECTOR REGULATIONS AND SUPERVISION. IT ALSO AIMS TO CREATE AN ENABLING ENVIRONMENT FOR MOBILE PAYMENT DEVELOPMENT TO INCREASE ACCESS TO FINANCIAL SERVICES FOR THE UNDER-BANKED, AND IMPROVE THE TAX COLLECTION PROCESS IN ALBANIA. FSVC 2016 PROJECTS INCLUDED CONDUCTING A THOROUGH REVIEW OF THE TAXPAYER SERVICES FUNCTION OF THE GENERAL DIRECTORATE OF TAXATION TO PROVIDE RECOMMENDATIONS ON HOW TO STRENGTHEN TAXPAYER SUPPORT; ORGANIZING A ROUNDTABLE DISCUSSION TO OUTLINE TO KEY GOVERNMENT REPRESENTATIVES THE BENEFITS OF INTRODUCING MOBILE PAYMENTS THROUGH THE ALBANIAN POST OFFICE; AND HELPING THE CENTRAL BANK ANALYZE THE EUROPEAN UNION'S NEW BANK RECOVERY AND RESOLUTION DIRECTIVE AND HOW TO IMPROVE THE ALBANIAN RESOLUTION FRAMEWORK ACCORDINGLY. 543019 USAID/GDA PROGRAM IN EAST AFRICA - WITH FUNDING FROM USAID, FSVC HAS BEEN IMPLEMENTING A PROGRAM OF TECHNICAL ASSISTANCE SINCE 2011 TO HELP STRENGTHEN REGIONAL FINANCIAL INTEGRATION ACROSS FIVE OF THE MEMBER STATES OF THE EAST AFRICAN COMMUNITY (EAC): BURUNDI, KENYA, RWANDA, TANZANIA AND UGANDA. IN 2016, FSVC IMPLEMENTED 8 PROJECTS UNDER THIS PROGRAM. 2016 PROJECTS INCLUDED TRAININGS FOR PENSION FUND MANAGERS AND SOCIAL SECURITY SCHEME ADMINISTRATORS IN THE EAC ON INTERNATIONAL BEST PRACTICES IN PENSION AND SOCIAL SECURITY MANAGEMENT, AND IN CORPORATE GOVERNANCE FOR PENSION FUNDS; ASSISTING THE ACTUARIAL SOCIETY OF KENYA IN DESIGNING A STRATEGIC PLAN FOR THE FIRST ACTUARIAL TRAINING AND ACCREDITATION ACADEMY FOR EAST AFRICA, AND A TRAIN-THE-TRAINER PROGRAM FOR THE ACADEMY. 1518008 148000 VARIOUS MISSIONS TO EUROPE, THE MIDDLE EAST AND ASIA TO BUILD THE FINANCIAL STRUCTURES NECESSARY FOR A SOUND BANKING SYSTEM. 1518008 148000 4044991 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 21 0 14 1 0 1 AL TS 0 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 1 0 NY X JOHN D POMPAY 2127711400 10 EAST 53RD STREET 36TH FLOOR NEW YORK NY 10022 X WILLIAM H DONALDSON CHAIRMAN 1.00 X X 0 0 0 JULIAN C SCHROEDER VICE CHAIRMAN & TREASURER 1.00 X X 0 0 0 J ANDREW SPINDLER PRESIDENT & CEO 40.00 X X 430158 0 57380 STEPHEN H AXILROD DIRECTOR 1.00 X 0 0 0 WILLIAM J BURNS DIRECTOR 1.00 X 0 0 0 ROBERT L CLARKE DIRECTOR 1.00 X 0 0 0 JILL M CONSIDINE DIRECTOR 1.00 X 0 0 0 KENNETH W DAM DIRECTOR (RESIGNED MAY 2016) 1.00 X 0 0 0 JOHN L DOUGLAS DIRECTOR 1.00 X 0 0 0 RANDALL D GUYNN DIRECTOR 1.00 X 0 0 0 CARLA A HILLS DIRECTOR 1.00 X 0 0 0 ALLAN J HIRST DIRECTOR 1.00 X 0 0 0 REUBEN JEFFERY III DIRECTOR 1.00 X 0 0 0 HENRY A KISSINGER DIRECTOR 1.00 X 0 0 0 RANDAL QUARLES DIRECTOR 1.00 X 0 0 0 JOHN L THORNTON DIRECTOR 1.00 X 0 0 0 JOSEF TOSOVSKY DIRECTOR (RESIGNED AUGUST 2016) 1.00 X 0 0 0 PAUL TUCKER DIRECTOR 1.00 X 0 0 0 JOHN L WALKER DIRECTOR 1.00 X 0 0 0 CHARLES KILBOURNE - PROGRAM CONSULTANT & SECRETARY OF THE BOARD 21.00 X 156045 0 0 JOHN D POMPAY CFO, COO & ASSISTANT TREASURER 40.00 X 223843 0 55681 ANDREA PERRAUD DIRECTOR, GLOBAL PROGRAMS 40.00 X 113035 0 19372 923081 0 132433 4 0 1 0 COLD RIVER CONSULTING 6985 FOREPOND COURT FORT BELVIOR VA 22060 PROGRAM CONSULTANT 156045 JANUS GLOBAL OPERATIONS SAIF LOUNGE PO BOX SHARJAH AE SECURITY 139160 2 4431630 566067 4997697 FEES FOR SERVICE 541900 148000 148000 148000 2263 2263 5147960 148000 0 2263 X 923107 546075 377032 1163046 906059 226982 30005 26739 24166 2231 342 243275 195244 45658 2373 121063 83847 36358 858 4573 4573 37831 37831 692743 601854 85105 5784 84842 63634 13170 8038 64182 53488 9631 1063 418179 336664 73589 7926 1108486 1061616 30196 16674 76487 76487 32515 29437 2762 316 38978 35336 3256 386 MISCELLANEOUS 30651 26511 3216 924 5066697 4044991 947017 74689 822279 1113618 1189432 1081525 810552 690067 14926 12127 96638 125041 306616 209069 130062 97547 415977 453061 3479866 3572986 134967 132209 1800 94972 1295874 1174904 1432641 1402085 X 1603225 1855691 444000 315210 2047225 2170901 3479866 3572986 X 81263 42413 X X 0 1 X 1 1 1 X 4276154 5119064 5288676 6212751 4997697 25894342 4276154 5119064 5288676 6212751 4997697 25894342 605704 25288638 961 753 587 880 2263 5444 25899786 1424737 0.97640 0.96740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1015000 372272 1826 1389098 1015000 1015000 1.00000 0 0 306616 209069 97547 97547 ACCRUED HEALTH AND PENSION 501421 DEFERRED RENT 673483 1174904 X 9430586 4282626 4282626 5147960 0 5147960 9349323 4282626 4282626 5066697 0 5066697 PART V, LINE 4: TO SUPPORT THE EXPANSION OF FSVC'S WORK IN EMERGING MARKET ECONOMIES. PART X, LINE 2: FSVC HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PERIODS ENDING DECEMBER 31, 2013 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES TECHNICAL ASSISTANCE 298675 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 3 PROGRAM SERVICES TECHNICAL ASSISTANCE 827690 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 2 3 PROGRAM SERVICES TECHNICAL ASSISTANCE 1373132 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 PROGRAM SERVICES TECHNICAL ASSISTANCE 94747 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 1 3 PROGRAM SERVICES TECHNICAL ASSISTANCE 2404780 4 9 0 0 4 9 4999024 0 4999024 0 0 0 0 0 0 X X X X 0 0 0 0 0 0 0 1 0 J ANDREW SPINDLER PRESIDENT & CEO 417658 0 12500 0 0 0 11660 0 45720 0 487538 0 0 0 CHARLES KILBOURNE - PROGRAM CONSULTANT & SECRETARY OF THE BOARD 156045 0 0 0 0 0 0 0 0 0 156045 0 0 0 JOHN D POMPAY CFO, COO & ASSISTANT TREASURER 217135 0 6708 0 0 0 9961 0 45720 0 279524 0 0 0 PART I, LINE 7 & PART II, COLUMN (B)(II): IN 2016 THE BOARD OF DIRECTORS AUTHORIZED A 3% BONUS FOR ALL US-BASED EMPLOYEES AND EXPAT EMPLOYEES, AND A 1-MONTH SALARY (13TH MONTH) BONUS FOR FSVC'S FOREIGN STAFF, INCLUDING OFFICERS AND HIGHEST COMPENSATED EMPLOYEES. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP WILL BE OPEN TO ALL PERSONS OVER THE AGE OF 18 WHO DEMONSTRATE A COMMITMENT TO THE ACHIEVEMENT OF THE CORPORATION'S PURPOSES AS SET FORTH IN THE CERTIFICATE OF INCORPORATION. THE MEMBERS OF THE CORPORATION MAY FROM TIME TO TIME ESTABLISH SUCH OTHER CRITERIA FOR MEMBERSHIP AS THEY DEEM APPROPRIATE. FORM 990, PART VI, SECTION A, LINE 7A THE NUMBER OF MEMBERS OF THE CORPORATION WILL NOT EXCEED TWENTY-FIVE. EACH MEMBER WILL BE ELECTED BY A MAJORITY OF THE EXISTING MEMBERS OF THE CORPORATION, AND EACH WILL SERVE UNTIL THE NEXT ANNUAL MEETING OF THE MEMBER'S AND THE EARLIEST OF THE ELECTION OR APPOINTMENT AND QUALIFICATION OF SUCH MEMBER'S SUCCESSOR OR UNTIL SUCH MEMBER'S DEATH, RESIGNATION, OR REMOVAL. AT THE EXPIRATION OF ANY TERM, ANY MEMBER MAY BE REELECTED. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS ELECT ANNUALLY THE BOARD OF DIRECTORS WHO GOVERN THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE AUDITORS PREPARE THE FORM 990 AND REVIEW IT WITH MANAGEMENT AND THE AUDIT COMMITTEE OF THE BOARD. THE AUDIT COMMITTEE RECOMMENDS ACCEPTANCE OR REFUSAL OF THE FORM 990 TO THE FULL BOARD. A COPY OF THE APPROVED FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF FSVC'S BOARD OF DIRECTORS, COMPRISED OF THE CHAIRMAN (MR. DONALDSON), AND VICE-CHAIRMAN (MR. SCHROEDER), REVIEWS AND APPROVES SALARY INCREASES FOR THE CEO AND ALL OFFICERS. IN ADDITION, FSVC ALSO REFERS TO VARIOUS INDUSTRY SALARY SURVEYS AND 990S OF OTHER ORGANIZATIONS AS COMPARABLES. THIS PROCESS WAS LAST DONE IN 2015. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII, SECTION A AND PART IX, LINE 5: CHARLES KILBOURNE IS THE SECRETARY OF THE BOARD BUT IS NOT A VOTING MEMBER OF THE BOARD. HE RECEIVED COMPENSATION AS A CONSULTANT. HIS COMPENSATION IS INCLUDED IN COLUMN D OF PART VII, SECTION A, AND IS ALSO INCLUDED ON LINE 5 OF PART IX. HE WORKED 1 HOUR PER WEEK IN HIS CAPACITY AS SECRETARY AND 20 HOURS PER WEEK IN HIS CAPACITY AS CONSULTANT. FORM 990, PART IX, LINE 11G SECURITY: PROGRAM SERVICE EXPENSES 141,560. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 141,560. TRANSLATION SERVICES: PROGRAM SERVICE EXPENSES 125,786. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 125,786. PROGRAM CONSULTANTS: PROGRAM SERVICE EXPENSES 314,731. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 314,731. PAYROLL PROCESSING: PROGRAM SERVICE EXPENSES 19,777. MANAGEMENT AND GENERAL EXPENSES 8,999. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 28,776. OTHER CONSULTANTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 76,106. FUNDRAISING EXPENSES 5,784. TOTAL EXPENSES 81,890. FORM 990, PART XI, LINE 9: GAIN ON SUBLEASE AGREEMENTS 42,413. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.