2014-09-05T17:48:44-05:00 2013-12-31 770051130 ABBOTT STRINGHAM & LYNCH 1550 LEIGH AVE SAN JOSE CA 95125 990 2013-01-01 710992446 KIVA MICROFUNDS KIVA 4153587500 875 HOWARD STREET NO 340 SAN FRANCISCO CA 94103 GEORGE REDENBAUGH CFO 4153587500 2014-08-28 1 SHEBA B DALANEY P00351252 4083778700 2014-08-26 2013 2015-11-30 17:44:51Z GEORGE REDENBAUGH 875 HOWARD STREET NO 340 SAN FRANCISCO CA 94103 21887434 0 X WWW.KIVA.ORG X 2005 CA KIVA'S MISSION IS TO CONNECT PEOPLE, THROUGH LENDING, FOR THE SAKE OF ALLEVIATING POVERTY. 7 5 114 450 0 0 15555107 20468745 0 240137 76774 80063 905 -1511 15632786 20787434 0 0 0 0 7224573 8582997 0 0 877482 5257955 6212736 12482528 14795733 3150258 5991701 17195184 23251120 946546 1092867 16248638 22158253 X SEE SCHEDULE O 0 0 12205771 20787434 KIVA PARTNERS WITH OVER 229 GLOBAL MICROFINANCE INSTITUTIONS ("MFIS") AND OTHER SOCIALLY MINDED ORGANIZATIONS AND ENTERPRISES IN MORE THAN 74 COUNTRIES ACROSS THE GLOBE. THIS NETWORK OF PARTNERSHIPS ENABLES KIVA TO CONNECT WITH BORROWERS SEEKING MICRO-LOANS. KIVA'S PARTNER ORGANIZATIONS ARE RESPONSIBLE FOR SELECTING AND VETTING THE BORROWERS AND ADMINISTRATING THE LOANS. KIVA'S ONLINE PLATFORM CONNECTS THESE BORROWERS WITH INDIVIDUALS WHO WANT TO CONTRIBUTE LOAN FUNDS VIA THE INTERNET. IN 2012, KIVA INITIATED MORE CONCERTED WORK ON A PILOT PROGRAM ("KIVA ZIP") IN THE UNITED STATES AND KENYA. KIVA ZIP, ESTABLISHED ON A SEPARATE WEBSITE URL(ZIP.KIVA.ORG), IS DESIGNED TO TEST THE FEASIBILITY OF FACILITATING MICROFINANCE LOANS FROM KIVA USERS MORE DIRECTLY TO KIVA BORROWERS INDEPENDENT OF AN INTERMEDIARY, CREDIT-ADMINISTERING PARTNER ORGANIZATION. 12205771 1 1 0 0 0 1 0 0 1 0 1 1 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 1 0 0 0 0 1 57 0 1 114 1 0 1 KE 0 0 0 0 0 0 0 0 X 7 5 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X GEORGE REDENBAUGH 4153587528 875 HOWARD STREET SUITE 340 SAN FRANCISCO CA 94103 REID HOFFMAN BOARD OF DIRECTOR 1.00 X 0 0 0 TABREEZ VERJEE BOARD OF DIRECTOR 1.00 X 0 0 0 JULIE HANNA FARRIS BOARD OF DIRECTOR 1.00 X 0 0 0 AMY ROWE KLEMENT BOARD OF DIRECTOR 1.00 X 0 0 0 GEOFF DAVIS BOARD OF DIRECTOR 1.00 X 0 0 0 MATTHEW FLANNERY CEO, CO-FOUNDER, BOARD MEMBER 40.00 X X 200025 0 8458 PREMAL SHAH PRESIDENT & BOARD MEMBER 40.00 X X 199684 0 13871 LISA HOGEN CHIEF DEVELOPMENT OFFICER 40.00 X 123902 0 17169 SAM MANKIEWICZ CHIEF TECHOLOGY OFFICER 40.00 X 147633 0 15410 AUSTIN CHOI GENERAL COUNSEL 40.00 X 134625 0 18595 KATHERINE WOO VICE PRESIDENT OF PRODUCT 40.00 X 146436 0 8050 BRITT HUBER VICE PRESIDENT OF HUMAN RESOURCES 40.00 X 131223 0 10393 GIOVANNA MASCI SENIOR DIRECTOR, GLOBAL PORTFOLIO 40.00 X 115825 0 10438 GEORGE REDENBAUGH CFO 40.00 X 177240 0 4010 SAM BIRNEY SENIOR DIRECTOR, ENGINEERING 40.00 X 116028 0 10325 BENNETT GRASSANO SR DIRECTOR, DEVELOPMENT 40.00 X 115361 0 12684 TIM LEDLIE SR, SOFTWARE ENGINEER 40.00 X 116078 0 10345 JENNIFER KOBAYASHI SENIOR MANAGER, ENGINEERING 40.00 X 120656 0 22749 JAMES COOLEY DIRECTOR, TECHNICAL OPERATIONS 40.00 X 128846 0 22824 AMY RISCH MANAGER, ENGINEERING 40.00 X 141365 0 21499 2114927 0 206820 15 0 1 0 0 20468745 6262 20468745 FEE FOR SERVICE CONTRACTS 900099 240137 240137 240137 82029 82029 1098034 1100000 -1966 -1966 -1966 LOSS OF CURRENCY CONVERSION 900099 -1511 -1511 -1511 20787434 238626 0 80063 2321747 1995624 190457 135666 4306972 3701996 353308 251668 213308 170917 30414 11977 1054086 844604 150296 59186 686884 586033 58904 41947 91920 30732 42772 18416 58257 19477 27108 11672 29912 10001 13918 5993 288520 220421 55599 12500 168567 121151 41427 5989 353034 250969 83492 18573 693356 599099 55278 38979 184416 121793 7495 55128 2545254 2162236 217222 165796 CONTRACTORS 579973 338464 231798 9711 PROMOTIONAL LOAN FUNDIN 425000 425000 PORTFOLIO RELATED EXPEN 277722 277722 EXTERNAL EVENTS 120476 93008 3840 23628 396329 236524 149152 10653 14795733 12205771 1712480 877482 665951 3134621 11162397 1172908 769117 4219459 72310 131192 263272 372998 416188 505216 11145277 7174408 3764022 3970869 9661930 25000 25000 56927 56927 17195184 23251120 775754 892903 170792 199964 946546 1092867 X 11992892 12480035 4255746 9678218 16248638 22158253 17195184 23251120 X 5991701 -85321 3233 2 X 0 1 X 1 0 X 5765776 11322525 11959428 15555107 13418745 58021581 5765776 11322525 11959428 15555107 13418745 58021581 58021581 132771 118836 95691 76774 82018 506090 2984 73938 3436 905 240137 321400 58849071 0.98590 0.85280 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2009 AMOUNT: $ 2,984. 2010 AMOUNT: $ 73,938. 2011 AMOUNT: $ 3,436. 2012 AMOUNT: $ 905. PROGRAM SERVICE INCOME - 2013 AMOUNT: $ 240,137. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 3525000 7050118 1 1 1 82283502 29297073 15053769 96526806 0 167993 90152 77841 771684 599003 172681 10205600 6485253 3720347 3970869 US TREASURY BILLS 7523746 F GOVERNMENT BOND FUND 1085787 F MUNICIPAL BONDS 1052397 F 9661930 DEFERRED RENT OBLIGATION 199964 199964 X 22663277 -85321 1961164 1875843 20787434 0 20787434 16753662 1957931 1957931 14795731 2 2 14795733 PART IV, LINE 1B: THE FUNDS OF KIVA'S USERS ARE HELD SEPARATE AND APART FROM THE OPERATIONAL FUND ACCOUNTS OF KIVA. KIVA IS ENTITLED TO THE INTEREST EARNED ON THE FUNDS HELD IN THE FBO ACCOUNTS, PURSUANT TO THE BINDING TERMS OF USE WITH INDIVIDUAL USERS AT THE TIME A USER ACCOUNT IS ESTABLISHED. KIVA IS ALSO ENTITLED TO THE AUTO-CONVERTED DONATIONS FROM KIVA CARDS HELD IN THESE ACCOUNTS, AND ONLINE DONATIONS INTENDED FOR KIVA THAT ARE PROCESSED TO THESE ACCOUNTS. INTEREST INCOME AND DONATIONS FROM AUTO-CONVERTED KIVA CARDS AND ONLINE DONATIONS DISBURSED FROM THESE BANK ACCOUNTS FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012 ARE AS FOLLOWS: 2013 2012 INTEREST INCOME $54,267 $61,267 AUTO-CONVERTED GIFT CERTIFICATES $1,268,200 $1,327,035 ONLINE DONATIONS $6,739,273 $6,228,033 IN THE EVENT AN ADMINISTRATIVE PROCESSING/RECORDING ISSUE RESULTS IN A DIFFERENCE BETWEEN SUCH USER-ACCOUNT RECORDS AND THE FBO ACCOUNT BALANCES, KIVA MAY BE EXPECTED TO COVER ANY SUCH RESULTING VARIANCE FOR THE FBO ACCOUNTS. FOR THE YEAR ENDED DECEMBER 31, 2013, THERE WERE NO INSTANCES THAT REQUIRED KIVA TO INDEMNIFY THE FBO ACCOUNTS, FOR WHICH CERTAIN MFI'S ULTIMATELY FAILED TO MAKE THE CONTRACTUALLY REQUIRED CORRESPONDING REPAYMENTS. PART X, LINE 2: KIVA HAS ADOPTED THE ACCOUNTING STANDARD RELATED TO UNCERTAINTIES IN INCOME TAXES. MANAGEMENT HAS CONSIDERED ITS TAX POSITIONS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN BY KIVA IN ITS FEDERAL AND STATE EXEMPT ORGANIZATION TAX RETURNS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION; THEREFORE, NO LIABILITY FOR UNRECOGNIZED INCOME TAX BENEFITS HAS BEEN RECORDED AS OF DECEMBER 31, 2013 AND 2012. KIVA IS SUBJECT TO EXAMINATION BY A MAJOR TAX JURISDICTION BACK TO 2010. PART XII, LINE 4B - OTHER ADJUSTMENTS: ROUNDING 2 1 SUB SAHARAN AFRICA 1 8 MANAGEMENT, PROGRAM SERVICES AND FUNDRAISING PARTNER MONITORING AND MICROFINANCE PROGRAM 492424 EUROPE 0 1 MANAGEMENT, PROGRAM SERVICES AND FUNDRAISING PARTNER MONITORING 22394 RUSSIA 0 0 MANAGEMENT, PROGRAM SERVICES AND FUNDRAISING PARTNER MONITORING 4593 MIDDLE EAST 0 1 PROGRAM SERVICES PARTNER MONITORING 43961 EAST ASIA 0 1 MANAGEMENT AND PROGRAM SERVICES PARTNER MONITORING 62334 SOUTH ASIA 0 0 MANAGEMENT AND PROGRAM SERVICES PARTNER MONITORING 8742 CENTRAL AMERICA 0 0 MANAGEMENT AND PROGRAM SERVICES PARTNER MONITORING 15047 SOUTH AMERICA 0 1 MANAGEMENT AND PROGRAM SERVICES PARTNER MONITORING 64642 NORTH AMERICA 0 1 PROGRAM SERVICES PARTNER MONITORING 8855 1 12 0 1 1 13 714137 8855 722992 0 0 0 0 0 0 X X X 0 0 0 0 0 0 0 0 0 MATTHEW FLANNERY CEO, CO-FOUNDER, BOARD MEMBER 200025 0 0 0 0 0 0 0 8458 0 208483 0 0 0 PREMAL SHAH PRESIDENT & BOARD MEMBER 199684 0 0 0 0 0 2500 0 11371 0 213555 0 0 0 SAM MANKIEWICZ CHIEF TECHOLOGY OFFICER 144633 0 3000 0 0 0 2500 0 12910 0 163043 0 0 0 AUSTIN CHOI GENERAL COUNSEL 131625 0 3000 0 0 0 2500 0 16095 0 153220 0 0 0 KATHERINE WOO VICE PRESIDENT OF PRODUCT 143436 0 3000 0 0 0 0 0 8050 0 154486 0 0 0 GEORGE REDENBAUGH CFO 177240 0 0 0 0 0 2500 0 1510 0 181250 0 0 0 JAMES COOLEY DIRECTOR, TECHNICAL OPERATIONS 122346 0 6500 0 0 0 2500 0 20324 0 151670 0 0 0 AMY RISCH MANAGER, ENGINEERING 131365 0 10000 0 0 0 2500 0 18999 0 162864 0 0 0 FORM 990, PART I, LINE 1 KIVA MICROFUNDS ("KIVA") IS A NONPROFIT, TAX-EXEMPT ORGANIZATION FOUNDED IN 2005 TO CONNECT PEOPLE THROUGH LENDING FOR THE SAKE OF ALLEVIATING POVERTY AND CREATING OPPORTUNITY. KIVA EMPOWERS INDIVIDUALS TO LEND TO LOW-INCOME BORROWERS AROUND THE WORLD. KIVA PARTNERS WITH OVER 229 GLOBAL MICROFINANCE INSTITUTIONS ("MFIS") AND OTHER SOCIALLY MINDED ORGANIZATIONS AND ENTERPRISES IN MORE THAN 74 COUNTRIES. PARTNER ORGANIZATIONS ARE RESPONSIBLE FOR SELECTING BORROWERS, REVIEWING THE LOAN APPLICATIONS, AND UPLOADING THE LOAN REQUESTS TO KIVA'S WEBSITE ONCE THEY HAVE APPROVED THE LOANS. WHEN THE LOAN FUNDS ARE RAISED, KIVA SENDS THE MONEY (VIA A NET BILLING PROCESS) TO THE PARTNER, WHICH USES THE FUNDS TO REPLENISH THE LOAN THAT HAS BEEN PRE-DISBURSED TO THE BORROWER, AND ADMINISTERS THE LOAN. TO DATE, KIVA HAS FACILITATED OVER $503 MILLION (USD) IN LOANS FROM LENDERS THROUGH THE WEBSITE. DURING 2013, KIVA-DAF ("KDAF") WAS ESTABLISHED TO SERVE AS A HOLDER OF MULTIPLE DONOR-ADVISED FUNDS. KDAF IS A DELAWARE LIMITED LIABILITY COMPANY WHOSE SOLE MEMBER IS KIVA. KMF INTENDS TO USE KDAF TO SEEK CHARITABLE DONATIONS FROM CORPORATIONS, FOUNDATIONS, AND HIGH NET WORTH INDIVIDUALS, WHERE THEY ARE ABLE TO IDENTIFY A LIMITED GROUP OF INDIVIDUALS, GENERALY THEIR OWN EMPLOYEES TO SIT AS DONOR-ADVISORS OVER THE FUNDS. BY DOING SO, THIS CREATES A MUTUALLY BENEFICIAL RESULT, AS THE DONORS ARE ABLE TO OBTAIN A CHARITABLE DEDUCTION AND KIVA IS ABLE TO EXPAND THE IMMEDIATE SCOPE OF ITS MICROLOAN PROGRAM. IN 2012, KIVA INITIATED MORE CONCERTED WORK ON A PILOT PROGRAM ("KIVA ZIP") IN THE UNITED STATES AND KENYA. KIVA ZIP, ESTABLISHED ON A SEPARATE WEBSITE URL (ZIP.KIVA.ORG), IS DESIGNED TO TEST THE FEASIBILITY OF FACILITATING MICROFINANCE LOANS FROM KIVA USERS MORE DIRECTLY TO KIVA BORROWERS, INDEPENDENT OF AN INTERMEDIARY, CREDIT-ADMINISTERING PARTNER ORGANIZATION. KIVA IS SUPPORTED PRIMARILY THROUGH INDIVIDUAL AND CORPORATE CONTRIBUTIONS AND GRANTS FROM FOUNDATIONS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS FIRST REVIEWED BY THE ASSISTANT CONTROLLER AND CFO TO ENSURE ACCURACY. AFTER THIS REVIEW, IT IS PASSED ON TO THE AUDIT COMMITTEE FOR THEIR APPROVAL. THEY WILL DISCUSS THEIR FINDINGS, APPROVAL AND ANY ISSUES THAT NEED TO BE ADDRESSED. ONCE THIS REVIEW IS COMPLETE THE FORM WILL BE SIGNED AND SUBMITTED. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD, OFFICERS, AND KEY EMPLOYEES ARE ASKED TO SIGN A DISCLOSURE FORM ON AN ANNUAL BASIS. THEY ARE ASKED TO DISCLOSE TO THE COMPANY'S GENERAL COUNSEL ANY FACTS THAT MAY BE CONSTRUED AS A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE REVIEWS COMPENSATION ANNUALLY. COMPENSATION FOR OFFICERS IS DETERMINED THROUGH REVIEW OF COMPENSATION SURVEYS AND COMPARABILITY DATA OF LIKE TYPE INDIVIDUALS IN THE NONPROFIT, FOR PROFIT, AND REGIONAL AREAS. FORM 990, PART VI, SECTION C, LINE 18 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, INFORMATIONAL RETURNS, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST OR THROUGH THE ORGANIZATION'S WEBSITE. FORM 990, PART VI, SECTION C, LINE 19 THEY ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: ROUNDING 2. KIVA USER FUNDS LLC 875 HOWARD STREET STE 340 SAN FRANCISCO CA 94103 261778383 FBO ACCOUNT HOLDER CA 0 KIVA-DAF LLC 875 HOWARD STREET STE 340 SAN FRANCISCO CA 94103 463976029 DONOR ADVISED FUND CA 7050000 7050118