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      <InventoriesForSaleOrUse>
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      <CapStckTrstPrinCurrentFunds>
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      <PaidInCapSrplsLandBldgEqpFund>
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      <TotalLiabNetAssetsFundBalances>
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      <ReconcilationOtherChanges>-198601</ReconcilationOtherChanges>
      <InfoInScheduleOPartXII>X</InfoInScheduleOPartXII>
      <MethodOfAccountingOther note="HISTORICAL COST">X</MethodOfAccountingOther>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementBoth>X</FinancialStatementBoth>
      <FederalGrantAuditRequired>true</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>true</FederalGrantAuditPerformed>
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      <SupportingOrg509a3Type1>X</SupportingOrg509a3Type1>
      <ContribByControllingIndividual>true</ContribByControllingIndividual>
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      <ContribBy35ControlledEntity>false</ContribBy35ControlledEntity>
      <SupportedOrgInformation>
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        </Name>
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        <ListedInGoverningDoc>true</ListedInGoverningDoc>
        <SupportedOrganizationNotified>true</SupportedOrganizationNotified>
        <OrganizedInUS>false</OrganizedInUS>
        <Amount>794808</Amount>
      </SupportedOrgInformation>
      <TotalNumberOfSupportedOrgs>1</TotalNumberOfSupportedOrgs>
      <SumOfAmounts>794808</SumOfAmounts>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="IRS990ScheduleB">
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        <ContributorNameBusiness>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorNameBusiness>
        <ContributorAddressUS>
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          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>RESTRICTED</AggregateContributions>
      </ContributorInfo>
    </IRS990ScheduleB>
    <IRS990ScheduleF documentId="IRS990ScheduleF">
      <GrantRecordsMaintained>true</GrantRecordsMaintained>
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        <NumberOfOffices>0</NumberOfOffices>
        <NumberOfEmployees>0</NumberOfEmployees>
        <TypeOfActivitiesConducted>Grantmaking</TypeOfActivitiesConducted>
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      </AcctsActvsOutUSTable>
      <AcctsActvsOutUSTable>
        <Region>South Asia</Region>
        <NumberOfOffices>0</NumberOfOffices>
        <NumberOfEmployees>0</NumberOfEmployees>
        <TypeOfActivitiesConducted>Grantmaking</TypeOfActivitiesConducted>
        <TotalExpenditures>284207</TotalExpenditures>
      </AcctsActvsOutUSTable>
      <SubtotalNumberOfOffices>0</SubtotalNumberOfOffices>
      <SubtotalNumberOfEmployees>0</SubtotalNumberOfEmployees>
      <TotalNumberOfOffices>0</TotalNumberOfOffices>
      <TotalNumberOfEmployees>0</TotalNumberOfEmployees>
      <SubtotalAmountSpent>794808</SubtotalAmountSpent>
      <TotalAmountSpent>794808</TotalAmountSpent>
      <GrantsToOrgsOutsideUS>
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        <AmountOfCashGrant>16680</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
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        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>Sub-Saharan Africa</Region>
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        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>Sub-Saharan Africa</Region>
        <AmountOfCashGrant>43372</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>Sub-Saharan Africa</Region>
        <AmountOfCashGrant>48095</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>South Asia</Region>
        <AmountOfCashGrant>10985</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>South Asia</Region>
        <AmountOfCashGrant>61402</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>South Asia</Region>
        <AmountOfCashGrant>98244</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>South Asia</Region>
        <AmountOfCashGrant>33650</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>South Asia</Region>
        <AmountOfCashGrant>51742</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>South Asia</Region>
        <AmountOfCashGrant>17247</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>South Asia</Region>
        <AmountOfCashGrant>17251</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
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        <AmountOfCashGrant>114919</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>Sub-Saharan Africa</Region>
        <AmountOfCashGrant>72135</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>South Asia</Region>
        <AmountOfCashGrant>24991</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>Sub-Saharan Africa</Region>
        <AmountOfCashGrant>155238</AmountOfCashGrant>
        <MannerOfCashDisbursement>wire</MannerOfCashDisbursement>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
        <MethodOfValuation>N/A</MethodOfValuation>
      </GrantsToOrgsOutsideUS>
      <TotalNumberOf501c3Orgs>0</TotalNumberOf501c3Orgs>
      <TotalNumberOfOtherOrgs>4</TotalNumberOfOtherOrgs>
      <TransferToForeignCorp>false</TransferToForeignCorp>
      <InterestInForeignTrust>false</InterestInForeignTrust>
      <OwnForeignCorp>false</OwnForeignCorp>
      <PassiveForeignInvestCo>false</PassiveForeignInvestCo>
      <ForeignPartnership>false</ForeignPartnership>
      <BoycottCountries>false</BoycottCountries>
      <Form990ScheduleFPartV>
        <Identifier>Part 1 Line 2</Identifier>
        <Explanation>The Foundation has implemented a program management process which requires periodic activity reports which detail the program service activities occurring outside of the US, as well as, conducting regular reviews and discussions between the program managers and staff. In addition, each grantor has specific reporting requirements that provide an additional layer of oversight on program service activities that occur outside of the US.</Explanation>
      </Form990ScheduleFPartV>
      <Form990ScheduleFPartV>
        <Identifier>Parts 1 &amp; 2</Identifier>
        <Explanation>All grantee organizations received payments from the foundation in US dollars and are reported on Schedule F, Parts I and II. The grant expenses listed on Form 990, parts III and IX were converted from the audited financial statements reported in British Pounds.</Explanation>
      </Form990ScheduleFPartV>
    </IRS990ScheduleF>
    <IRS990ScheduleJ documentId="IRS990ScheduleJ">
      <WrittenEmploymentContract>X</WrittenEmploymentContract>
      <CompensationSurvey>X</CompensationSurvey>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>true</SeverancePayment>
      <SupplementalNonqualRetirePlan>false</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>false</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>false</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>false</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>false</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>false</AnyNonFixedPayments>
      <InitialContractException>false</InitialContractException>
      <Form990ScheduleJPartII>
        <NamePerson>James McNeill</NamePerson>
        <BaseCompensationFilingOrg>0</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>48668</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>100000</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>0</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>0</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>148668</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>David Frolio</NamePerson>
        <BaseCompensationFilingOrg>0</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>289635</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>266715</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>9800</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>0</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>37625</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>0</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>603775</TotalCompensationRelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Reed Peterson</NamePerson>
        <CompBasedOnRelatedOrgs>153564</CompBasedOnRelatedOrgs>
        <BonusRelatedOrgs>38342</BonusRelatedOrgs>
        <DeferredCompRelatedOrgs>23215</DeferredCompRelatedOrgs>
        <NontaxableBenefitsRelatedOrgs>38850</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationRelatedOrgs>253971</TotalCompensationRelatedOrgs>
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      <Form990ScheduleJPartII>
        <NamePerson>Robbert Conway</NamePerson>
        <CompBasedOnRelatedOrgs>2243567</CompBasedOnRelatedOrgs>
        <BonusRelatedOrgs>433946</BonusRelatedOrgs>
        <NontaxableBenefitsRelatedOrgs>4245</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationRelatedOrgs>2681758</TotalCompensationRelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Seema Desai</NamePerson>
        <CompBasedOnRelatedOrgs>134823</CompBasedOnRelatedOrgs>
        <BonusRelatedOrgs>36165</BonusRelatedOrgs>
        <DeferredCompRelatedOrgs>4075</DeferredCompRelatedOrgs>
        <NontaxableBenefitsRelatedOrgs>1980</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationRelatedOrgs>177043</TotalCompensationRelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartIII>
        <Identifier>Schedule J, Part I line 4a</Identifier>
        <Explanation>James McNeill's received severance pay which is included in other compensation on part II.</Explanation>
      </Form990ScheduleJPartIII>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="IRS990ScheduleO">
      <GeneralExplanation>
        <Identifier>Part 1</Identifier>
        <Explanation>GSMA Foundation's financial statements are presented in British Pounds. The amounts reported on Part X of the Form 990 were converted from British Pounds to US Dollars using the conversion rate at 3/31/12 of 1.60163. The amounts reported on Part VIII and Part IX of the Form 990 were converted from British Pounds to US Dollars using the average conversion rate for the fiscal year ended 03/31/12 of 1.60300. The foreign currency conversion results in an adjusting item to the organization's change in net assets for the period which is reported on Form 990, Part XI, line 5. The financial statements were compiled following international financial reporting standards and received an unqualified audit opinion.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part III, Line 4D</Identifier>
        <Explanation>Other programs such as mLearning &amp; mPesa incurred expenses of 232,764.59 during the fiscal year ended 03/31/12</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part VI, Line 6</Identifier>
        <Explanation>The Company is a nonprofit corporation formed under Georgia law. Its sole member is the GSM Association, acting through its United States branch office.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part VI, Line 7b</Identifier>
        <Explanation>The Company's annual operating budget is subject to approval of the sole member, GSM Association</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part VI, Line 11b</Identifier>
        <Explanation>A draft version of the Form 990 is circulated to select members of the governing body for their review and comment. All input is considered and evaluated when preparing the final version of the return.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part VI, Line 12c</Identifier>
        <Explanation>Directors and officers are required to execute annual written certifications of compliance with the conflict of interest policy. Any exceptions must be disclosed and reviewed by the organization. The directors and officers have certified their compliance with the policy for this tax year.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part VI, Lines 15a &amp; b</Identifier>
        <Explanation>The parent company human resources staff performs benchmarking studies to determine all officer compensation packages. These studies utilize external data on each element of the packages including base salary, incentive compenstation, and benefit programs. The parent company CEO approved the compensation's package for the organization's CEO and other officers with the concurrence of the governing body (e.g. Board of Directors).</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part VI, Line 19</Identifier>
        <Explanation>The company maintains public disclosure copies of its governing documents, conflict of interest policy and financial statements at its principal office. These copies are available upon a written or in-person request for access.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part XII, Line 1</Identifier>
        <Explanation>GSMA Foundation's financial statements (and thus the Form 990) have been prepared under the historical cost convention.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part XI, Line 5</Identifier>
        <Explanation>PRIOR YEAR ADJUSTMENT (69,581) FOREIGN CURRENCY CONVERSION ADJUSTMENT 837 UNREALIZED CURRENCY CONVERSION LOSS (129,857) --------------------------------------------------- TOTAL PART XI, LINE 5 (198,601)</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:James McNeill TITLE:Treasure &amp; Director HOURS:</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR">
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          <BusinessNameLine1>GSM Association</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressForeign>
          <AddressLine1>7th FL 5 New St SQ</AddressLine1>
          <City>london</City>
          <ProvinceOrState>england</ProvinceOrState>
          <Country>UK</Country>
          <PostalCode>ED4A 3BF</PostalCode>
        </AddressForeign>
        <EIN>980506316</EIN>
        <PrimaryActivities>Trade Assoc.</PrimaryActivities>
        <LegalDomicileForeignCountry>UK</LegalDomicileForeignCountry>
        <ExemptCodeSection>501(c)(6)</ExemptCodeSection>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>GSMA Limited</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>1000 Abernathy Road Suite 450</AddressLine1>
          <City>atlanta</City>
          <State>GA</State>
          <ZIPCode>30328</ZIPCode>
        </AddressUS>
        <EIN>204991061</EIN>
        <PrimaryActivities>Conf Activity</PrimaryActivities>
        <LegalDomicileState>GA</LegalDomicileState>
        <ExemptCodeSection>501(c)(6)</ExemptCodeSection>
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      <GiftGrantOrCapContrToOtherOrg>false</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>false</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>true</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>true</LoansOrGuaranteesFromOtherOrg>
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      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>true</SharingOfFacilities>
      <SharingOfPaidEmployees>true</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>true</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>true</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
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      <TransactionsRelatedOrgsTable>
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        </NameOfOtherOrganization>
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      <TransactionsRelatedOrgsTable>
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          <BusinessNameLine1>GSM Association</BusinessNameLine1>
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      <TransactionsRelatedOrgsTable>
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          <BusinessNameLine1>GSMA Limited</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>D</TransactionType>
        <AmountInvolved>107167</AmountInvolved>
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      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>GSM Association</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>E</TransactionType>
        <AmountInvolved>1941227</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>GSMA Limited</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>E</TransactionType>
        <AmountInvolved>2111946</AmountInvolved>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>