2014-05-20T07:48:12-05:00 2013-09-30 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 650N BETHESDA MD 208142930 990 2012-10-01 342015566 THE IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION IRAQ 2022234600 C/O KLAMP ASSOCIATES 2000 P ST NW NO 708 WASHINGTON DC 20036 JORGE R VILA 2022234600 2014-05-20 1 3019519090 2012 2015-11-30 17:44:51Z JORGE R VILA C/O KLAMP ASSOCIATES 2000 P ST NW NO 708 WASHINGTON DC 20036 1224878 0 X WWW.IMMDF.ORG X 2004 TX SEE PART III, LINE 1 5 5 4 5 0 0 0 0 1097580 1209552 27344 15326 0 0 1124924 1224878 0 12600 0 0 1155916 1175842 0 0 0 1833526 1853197 2989442 3041639 -1864518 -1816761 24344465 21199661 10969651 9641608 13374814 11558053 IMMDF MAKES DEVELOPMENT LOANS AT BELOW MARKET INTEREST RATES WITH NON-COMMERCIAL TERMS TO SMALL AND MEDIUM SIZED BUSINESSES IN AREAS OF IRAQ WITH LOW INCOME AND HIGH UNEMPLOYMENT TO CREATE JOBS, LESSEN POVERTY, AND FOSTER ECONOMIC GROWTH. 0 0 2151303 12600 1209552 CAPITAL ASSISTANCE: IMMDF MADE DEVELOPMENT LOANS AT BELOW MARKET INTEREST RATES WITH NON-COMMERCIAL TERMS TO SMALL AND MEDIUM SIZED BUSINESSES IN AREAS OF IRAQ.IMMDF MADE LOANS TO IRAQ SMALL AND MEDIUM SIZE COMPANIES THAT DO NOT HAVE ACCESS TO THE CREDIT UNDER AFFORDABLE INTEREST RATES FOR PROJECTS THAT GENERATE EMPLOYMENT AND ECONOMIC GROWTH. 2151303 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 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 4 0 1 4 1 0 1 JO IZ 0 0 0 0 0 0 0 0 X 5 5 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X MAZEN ABOU-SHABAN 2022234600 2000 P ST NW STE 708 WASHINGTON DC 20036 CHRIS SALE 3.00 X X 0 0 0 NASER DARWISH 3.00 X 0 0 0 ROBERT DRUMHELLER 3.00 X 0 0 0 DENIS FLANNERY 3.00 X 0 0 0 ELIOT KALTER 3.00 X 0 0 0 JORGE R VILA 40.00 X 265488 0 29307 265488 0 29307 1 0 1 0 CHF INTERNATIONAL 8601 GEORGIA AVE STE 800 SILVER SPRING MD 20910 CONSULTING 150000 HUZAK CO CONSULTANCY FOR LAW INVESTMEN 592 ITALIAN VILLAGE ERBIL IZ LEGAL 113810 KLAMP AND ASSOCIATES PC 2000 P ST NW WASHINGTON DC 20036 LEGAL 102000 3 PROGRAM FEES 900099 1209552 1209552 1209552 15326 15326 1224878 1209552 0 15326 12600 12600 291917 218938 72979 631415 473561 157854 19960 14970 4990 161047 120785 40262 71503 53627 17876 150000 135000 15000 412131 309098 103033 60000 60000 26833 24150 2683 16993 16993 94659 94659 216283 162212 54071 97626 48813 48813 27764 27764 438159 438159 125466 58794 66672 BAD DEBT 71807 71807 VEHICLES & TRANSPORT. 42702 42702 FURNITURE & EQUIPMENT 24845 24845 SECURITY EXPENSES 19597 4899 14698 28332 3890 24442 3041639 2151303 890336 0 1736843 523328 10414816 5850059 237289 101978 11861647 14629758 84402 85070 9468 9468 24344465 21199661 252463 207970 10115825 8832275 601363 601363 10969651 9641608 X -11603407 -10901095 24978221 22459148 13374814 11558053 24344465 21199661 -1816761 0 X 0 1 X 1 1 1 X 9100000 9100000 9100000 9100000 9100000 40812 29424 52197 27344 15326 165103 9265103 13628127 0.98220 0.98670 X 0 DEFERRED INTEREST PAYABLE 601363 601363 X 1224878 0 1224878 0 1224878 2969832 -71807 -71807 3041639 0 3041639 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: FOR THE YEARS ENDED SEPTEMBER 30, 2013 AND 2012, IMMDF HAS DOCUMENTED ITS CONSIDERATION OF FASB ASC 740-10, INCOME TAXES, THAT PROVIDES GUIDANCE FOR REPORTING UNCERTAINTY IN INCOME TAXES AND HAS DETERMINED THAT NO MATERIAL UNCERTAIN TAX POSITIONS QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FEDERAL FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, IS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER IT IS FILED. PART XII, LINE 2D - OTHER ADJUSTMENTS: REDUCTION IN PROVISIONS FOR UNCOLLECTABLE LOANS WRITTEN OFF REPORTED AS AN OTHER ITEM ON THE AUDITED FINANCIAL STATEMENTS AND INCLUDED IN EXPENSES ON THE 990, PART IX, LN 24 -71,807. 1 MIDDLE EAST AND NORTH AFRICA 4 13 PROGRAM SERVICES PROVIDE LOANS TO IRAQI BUSINESSES 3029049 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION 12600 4 13 0 0 4 13 3041649 0 3041649 MIDDLE EAST AND NORTH AFRICA HELP A LOCAL KINDERGARTEN SCHOOL IN IRAQ TO FIX ITS A/C UNITS, PAINT CLASSES, AND DO NECESSARY PLUMBING WORK. 12600 CASH/CHECK 0 1 1 0 0 0 0 1 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: IMMDF MADE GRANTS TO HELP IMPROVE A KINDERGARTEN LOCATED IN IRAQ. IMMDF MONITORED THE CONSTRUCTION ON A WEEKLY BASIS AND TOOK BEFORE AND AFTER PICTURES TO DOCUMENT THE IMPROVEMENTS. IN ADDITION, IMMDF MADE PAYMENTS DIRECTLY TO THE CONTRACTORS ON BEHALF OF THE SCHOOL. X 1 1 X X X 0 0 0 0 0 0 0 1 0 JORGE R VILA 238891 0 15000 0 11597 0 0 0 29307 0 294795 0 0 0 PART I, LINE 7 DURING 2012, JORGE R. VILA RECEIVED A $15,000 BONUS. FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS NASER DARWISH AND CHRIS SALE HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PREPARED BY THE OUTSIDE ACCOUNTANTS AND REVIEWED BY THE GENERAL MANAGER AND CHIEF FINANCIAL OFFICER OF IMMDF. THE 990 WAS DISTRIBUTED TO THE BOARD OF DIRECTORS PRIOR TO BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS HAVE APPROVED A POLICY REQUIRING THEM TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST WHEN THEY ARISE. IF THERE ARE TRANSACTIONS INVOLVING A DIRECTOR, THAT DIRECTOR LEAVES THE RELEVANT PORTION OF THE BOARD MEETING AND DOES NOT PARTICIPATE IN THE DECISION. DISCLOSURE FORMS ARE REQUIRED OF BOARD MEMBERS. EMPLOYEES MUST STRICTLY AVOID ANY CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST. EMPLOYEES MAKE FULL DISCLOSURE OF THEIR ACTIONS OR RELATIONSHIPS WITH PERSPECTIVE VENDORS, CONTRACTORS, OR CONSULTANTS. NO IMMDF EMPLOYEE IS ALLOWED TO ENGAGE IN CONDUCT RESULTING IN A POTENTIAL CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE INITIAL SALARY OF THE GENERAL MANAGER OF IMMDF WAS APPROVED BY THE GOVERNMENT AGENCY FUNDING IMMDF. RAISES ARE DECIDED UPON BY THE BOARD OF DIRECTORS AFTER A PERFORMANCE REVIEW, COMPARISON WITH SIMILAR ORGANIZATIONS, AND A DISCUSSION BY THE BOARD WITHOUT THE GENERAL MANAGER PRESENT. THE DECISION IS DOCUMENTED IN WRITTEN MINUTES OF THE BOARD. THE LAST SALARY REVIEW FOR THE GENERAL MANAGER WAS DONE JANUARY, 2013. FORM 990, PART VI, SECTION C, LINE 19 IMMDF DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.