2013-08-14T12:48:57-05:00 2012-12-31 952302617 SINGERLEWAK LLP 100 W SAN FERNANDO ST STE 365 SAN JOSE CA 95113 990 2012-01-01 710992446 KIVA MICROFUNDS KIVA 4153587500 875 HOWARD STREET NO 340 SAN FRANCISCO CA 94103 MATTHEW FLANNERY 4153587500 2013-08-12 1 LIOR TEMKIN P00748170 4082943924 2013-08-12 2012 2016-02-24 21:20:13Z GEORGE REDENBAUGH 875 HOWARD STREET NO 340 SAN FRANCISCO CA 94103 15632786 0 X WWW.KIVA.ORG X 2005 CA KIVA'S MISSION IS TO CONNECT PEOPLE, THROUGH LENDING, FOR THE SAKE OF ALLEVIATING POVERTY. 8 6 112 621 0 0 11959428 15555107 0 0 95691 76774 3436 905 12058555 15632786 0 0 0 0 5518349 7224573 0 0 624301 4600783 5257955 10119132 12482528 1939423 3150258 13741424 17195184 721331 946546 13020093 16248638 X SEE SCHEDULE O 0 0 10318070 KIVA PARTNERS WITH OVER 173 GLOBAL MICROFINANCE INSTITUTIONS ("MFIS") AND OTHER SOCIALLY MINDED ORGANIZATIONS AND ENTERPRISES IN MORE THAN SIXTY-FOUR (64) 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 OVER 868,000 INDIVIDUALS TO DATE 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. THE LOAN AMOUNTS UNDER THE ZIP PILOT ARE NOT CURRENTLY DEEMED MATERIAL TO KIVA'S OPERATIONS. 10318070 1 1 0 0 0 0 0 0 1 0 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 1 0 0 0 1 0 0 0 0 1 52 0 1 112 1 0 1 KE 0 0 0 1 1 0 0 0 0 X 8 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X GEORGE REDENBAUGH 4153587528 875 HOWARD STREET SUITE 340 SAN FRANCISCO CA 94103 GEOFF DAVIS 1.00 X 0 0 0 ALEX EDELSTEIN 1.00 X 0 0 0 JULIE HANNA FARRIS 2.00 X 0 0 0 REID HOFFMAN 1.00 X 0 0 0 AMY ROWE KLEMENT 1.00 X 0 0 0 TABREEZ VERJEE 1.00 X 0 0 0 MATTHEW FLANNERY 40.00 X X 120140 0 7393 PREMAL SHAH 40.00 X X 120150 0 10337 NAOMI BAER 40.00 X 102583 0 9752 SAM BIRNEY 40.00 X 135911 0 9861 AUSTIN CHOI 40.00 X 130657 0 13700 TIM HASSETT 40.00 X 61748 0 8531 LISA HOGEN 40.00 X 115570 0 20524 BRITT HUBER 40.00 X 126685 0 5956 ELIZABETH KUENSTLER 40.00 X 115013 0 3653 STEFANIE MADRID 40.00 X 102650 0 9660 SAM MANKIEWICZ 40.00 X 139640 0 14485 GIOVANNA MASCI 40.00 X 98805 0 8967 KATHERINE WOO 40.00 X 130050 0 7325 JIM COOLEY 40.00 X 122766 0 24394 RICK DOTY 40.00 X 118145 0 8489 SIDARTH KHOSHOO 40.00 X 123702 0 9563 TIM LEDLIE 40.00 X 113274 0 18660 AMY RISCH 40.00 X 134178 0 22121 2111667 0 213371 30 0 1 0 0 15555107 70125 15555107 76774 76774 MISCELLANEOUS INCOME 900099 905 905 905 15632786 0 0 77679 1629746 1381585 157269 90892 4047098 3430848 390540 225710 172105 145898 16608 9599 745599 632067 71949 41583 630025 532757 61289 35979 28150 2189 25961 86996 86996 31076 31076 256724 197816 58908 107764 47550 55180 5034 217992 155260 52522 10210 613375 503077 78750 31548 140039 96437 7705 35897 1797736 1525475 172013 100248 PROMOTIONAL LOAN FUNDIN 800000 800000 CONTRACTORS 495660 394598 82344 18718 PORTFOLIO RELATED EXPEN 265025 265025 STAFF DEVELOPMENT 150469 4704 145633 132 266949 202784 45414 18751 12482528 10318070 1540157 624301 1497653 665951 7554038 11162397 1272115 769117 118226 72310 260405 263272 283852 416188 8393176 4629154 2668483 3764022 25000 25000 61652 56927 13741424 17195184 657867 775754 63464 170792 721331 946546 X 11171184 11992892 1848909 4255746 13020093 16248638 13741424 17195184 X 3150258 79678 -1391 X 0 1 X 1 0 X 4831398 5765776 11322525 11959428 15555107 49434234 4831398 5765776 11322525 11959428 15555107 49434234 6444081 42990153 370820 132771 118836 95691 76774 794892 102106 2984 73938 3436 905 183369 50412495 0.85280 0.85930 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2008 AMOUNT: $ 2,106. 2009 AMOUNT: $ 2,984. 2010 AMOUNT: $ 73,938. 2011 AMOUNT: $ 3,436. 2012 AMOUNT: $ 905. PARTNERSHIP INCOME - 2008 AMOUNT: $ 100,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 66979916 26534701 11231115 82283502 0 167993 66664 101329 711264 446323 264941 7513919 4116167 3397752 3764022 DEFERRED RENT OBLIGATION 170792 170792 X 17394130 1762735 -1391 1761344 15632786 0 15632786 14165585 1683057 1683057 12482528 0 12482528 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: EFFECTIVE JANUARY 1, 2009, KIVA ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC NO. 740, "UNCERTAINTY IN INCOME TAXES" ("ASC 740") (FORMERLY FASB INTERPRETATION NO. 48 ("FIN 48"), "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES - AN INTERPRETATION OF FASB STATEMENT 109"). ASC 740 CLARIFIES THE UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE ENTERPRISE'S FINANCIAL STATEMENTS. KIVA HAS DETERMINED THAT THE ADOPTION OF ASC 740 DID NOT RESULT IN THE RECOGNITION OF ANY LIABILITY FOR UNCERTAIN TAX POSITIONS. KIVA'S FEDERAL AND STATE INCOME TAX RETURNS REMAIN SUBJECT TO EXAMINATION FOR ALL TAX YEARS ENDED ON OR AFTER DECEMBER 31, 2008 THROUGH 2012 RESPECTIVELY, WITH REGARD TO ALL TAX POSITIONS AND RESULTS REPORTED. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAIN/LOSS CURRENCY CONVERSION -1,391. PART IV, LINE 1B: 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, 2012 AND 2011 ARE AS FOLLOWS: 2012 2011 INTEREST INCOME $61,267 $74,222 AUTO-CONVERTED GIFT CERTIFICATES $1,327,035 $1,285,879 ONLINE DONATIONS $6,228,033 $5,890,944 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 YEARS ENDED DECEMBER 31, 2012 AND 2011, KIVA INDEMNIFIED, IN THE APPROXIMATE AMOUNT OF $0 AND $0 RESPECTIVELY, THE KUF BANK ACCOUNTS FOR A SET OF REPAYMENTS THAT WERE CREDITED TO VARIOUS USERS, FOR WHICH CERTAIN MFI'S ULTIMATELY FAILED TO MAKE THE CONTRACTUALLY REQUIRED CORRESPONDING REPAYMENTS. 1 RUSSIA 0 0 PROGRAM SERVICESPROGRAM SERVICES PARTNER MONITORING 14618 MIDDLE EAST 0 1 PROGRAM SERVICES PARTNER MONITORING 47983 EUROPE 0 1 PROGRAM SERVICES PARTNER MONITORING 79660 EUROPE 0 1 FUNDRAISING N/A 8596 EUROPE 0 1 MANAGEMENT N/A 59 EAST ASIA 0 1 PROGRAM SERVICES PARTNER MONITORING 55463 SOUTH ASIA 0 0 MANAGEMENT N/A 866 SOUTH ASIA 0 0 PROGRAM SERVICES PARTNER MONITORING 16387 CENTRAL AMERICA 0 0 PROGRAM SERVICES PARTNER MONITORING 15078 SOUTH AMERICA 0 1 MANAGEMENT N/A 1644 SOUTH AMERICA 0 1 PROGRAM SERVICES PARTNER MONITORING 62589 NORTH AMERICA 0 1 MANAGEMENT N/A 3018 NORTH AMERICA 0 1 PROGRAM SERVICES PARTNER MONITORING 8855 SUB-SAHARAN AFRICA 1 6 MANAGEMENT N/A 25074 SUB-SAHARAN AFRICA 1 6 PROGRAM SERVICES PARTNER MONITORING 382537 SUB-SAHARAN AFRICA 1 6 LOAN MICROFINANCE PROGRAM. THESE CASH LOANS WERE DISTRIBUTED IN AFRICA AND WILL BE REPAID OVER THE COURSE OF THE NEXT YEAR. 70800 0 5 3 22 3 27 223632 569595 793227 0 0 0 0 0 0 X X X 0 0 0 0 0 0 0 0 0 SAM MANKIEWICZ 139640 0 0 0 0 0 2500 0 11985 0 154125 0 0 0 AMY RISCH 134178 0 0 0 0 0 2500 0 19621 0 156299 0 0 0 X 15080 FMV X 19124 FMV X 2 2014 FMV X 2267 FMV X WIRELESS CONTROLLERS 136 27888 FMV X SUPPLIES 2 2578 FMV X EQUIPMENT 4 225 FMV X GIFT CARDS 8 950 FMV 0 1 0 VOLUNTEER PROGRAM: FORM 990, PART I, LINE 6: IN 2012, KIVA ENGAGED 621 VOLUNTEERS TO ASSIST IN ITS OPERATIONS. VOLUNTEERS WERE COMPRISED OF THREE CATEGORIES; TRANSLATORS AND EDITORS, FELLOWS, AND GENERAL OFFICE SUPPORT. KIVA TRANSLATORS AND EDITORS PLAY A KEY ROLE IN KIVA'S LOAN MONITORING PROCESS, CHECKING EACH MICROLOAN PROPOSAL THAT IS POSTED FROM KIVA'S FIELD PARTNERS TO THE WEBSITE, EXAMINING THE DETAILS PROVIDED ONLINE FOR DATA INTEGRITY AND CLARITY. KIVA EDITORS REVIEW LOAN PROPOSALS POSTED IN ENGLISH, REVISING AND CLARIFYING TEXT, WHILE KIVA TRANSLATORS PROVIDE SPECIALIZED SUPPORT FOR PROJECTS REQUIRING TRANSLATION PROFESSIONALS, CONTRIBUTING TO KIVA'S COMMUNICATIONS MATERIALS AND TECHNICAL DOCUMENTATION. KIVA FELLOWS ARE AN INTEGRAL PART OF THE KIVA TEAM, ACTING AS KIVA'S EYES AND EARS IN THE FIELD AND HELPING TO EXTEND THE LIMITED RESOURCES OF ITS FIELD PARTNERS TO MAXIMUM EFFECT. FELLOWS PROVIDE CONSULTATIVE SERVICES TO ITS FIELD PARTNERS, PROVIDE PREMIUM CONTENT FOR ITS LENDERS, AND SERVICE AS SHORT-TERM FIELD REPRESENTATIVES ON BEHALF OF ITS STAFF. KIVA'S GENERAL OFFICE SUPPORT VOLUNTEERS PERFORM AN ARRAY OF DUTIES RANGING FROM MARKETING AND BUSINESS DEVELOPMENT, RECRUITMENT, CUSTOMER SUPPORT, ANALYTICS, AND FELLOWS PROGRAM SUPPORT. THEY ARE INTEGRAL TO THE SUPPORT AND DEVELOPMENT OF KIVA'S OPERATIONAL CAPACITY. ORGANIZATION MISSION STATEMENT FORM 990, PART III, 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 173 GLOBAL MICROFINANCE INSTITUTIONS ("MFIS") AND OTHER SOCIALLY MINDED ORGANIZATIONS AND ENTERPRISES IN MORE THAN SIXTY-FOUR (64) 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 US $383 MILLION IN LOANS FROM LENDERS THROUGH THE WEBSITE. 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. THE LOAN AMOUNTS UNDER THE ZIP PILOT ARE NOT CURRENTLY DEEMED MATERIAL TO KIVA'S OPERATIONS. KIVA IS SUPPORTED PRIMARILY THROUGH INDIVIDUAL AND CORPORATE CONTRIBUTIONS AND GRANTS FROM FOUNDATIONS. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS FIRST REVIEWED BY THE FINANCE DIRECTOR AND CFO TO ENSURE ACCURACY. IT IS THEN PASSED ON TO THE AUDIT COMMITTEE FOR THEIR APPROVAL. THEY WILL THEN DISCUSS THEIR FINDINGS, THEIR APPROVAL, AND ANY ISSUES THAT NEED TO BE ADDRESSED AT THE ENSUING BOARD MEETING. AT THAT TIME, THE FORM 990 WILL BE SIGNED AND SUBMITTED. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THROUGH A DISCLOSURE FORM, (1) MEMBERS OF THE BOARD, (2) OFFICERS AND (3) KEY EMPLOYEES 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 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 19 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: GAIN/LOSS CURRENCY CONVERSION -1,391. KIVA USER FUNDS LLC 875 HOWARD ST SUITE 340 SAN FRANCISCO CA 94103 261778383 FBO ACCOUNT HOLDER CA 0 82283502 N/A