2013-08-08T07:37:33-05:00 2012-09-30 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 650N BETHESDA MD 208142930 990 2011-10-01 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 2013-08-08 1 3019519090 2011 2016-02-24 21:20:13Z JORGE R VILA C/O KLAMP ASSOCIATES 2000 P ST NW NO 708 WASHINGTON DC 20036 1124924 0 X WWW.IMMDF.ORG X 2004 TX SEE PART III, LINE 1 5 5 7 5 0 0 0 0 3033990 1097580 52197 27344 0 0 3086187 1124924 0 0 0 0 978371 1155916 0 0 0 2335976 1833526 3314347 2989442 -228160 -1864518 25177498 24344465 10717211 10969651 14460287 13374814 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 2068302 1097580 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. 2068302 1 0 0 0 0 0 0 0 0 0 0 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 0 1 4 0 1 7 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 MICHAEL DOYLE 3.00 X X 0 0 0 RALPH LOBDELL 3.00 X X 0 0 0 NASER DARWISH 3.00 X 0 0 0 JAMES PICKUP THRU 1262012 3.00 X 0 0 0 CHRIS SALE 3.00 X 0 0 0 DENNIS FLANNERY 3.00 X 0 0 0 JORGE R VILA 40.00 X 220980 0 56688 220980 0 56688 1 0 1 0 MENA ASSOCIATES 60TH STREET DISTRICT 340-6699 ERBIL IZ LEGAL SERVICES 156964 CHF INTERNATIONAL 8601 GEORGIA AVE 800 SILVER SPRING MD 20910 CONSULTING 150000 KLAMP & ASSOCIATES PC 2000 P ST NW 708 WASHINGTON DC 20036 LEGAL SERVICES 120000 3 PROGRAM FEES 900099 1097580 1097580 1097580 27344 27344 1124924 1097580 0 27344 274461 205846 68615 679323 509492 169831 14740 11055 3685 125756 94317 31439 61636 46227 15409 150000 135000 15000 514931 386198 128733 48338 48338 44176 21427 22749 28276 7069 21207 91078 91078 182667 137000 45667 106232 53116 53116 27193 27193 372006 372006 166489 83244 83245 VEHICLES & TRANSPORT. 46277 46277 FURNITURE & EQUIPMENT 30643 30643 SECURITY EXPENSES 11351 2838 8513 MISCELLANEOUS 9369 2342 7027 4500 1125 3375 2989442 2068302 921140 0 1349700 1736843 12286104 10414816 267795 237289 11123861 11861647 140570 84402 9468 9468 25177498 24344465 223042 252463 9892806 10115825 601363 601363 10717211 10969651 X -13130870 -11603407 27591157 24978221 14460287 13374814 25177498 24344465 X -1864518 779045 X 0 1 1 X 1 1 X 9100000 9100000 9100000 9100000 9100000 40812 29424 52197 27344 149777 9249777 17593869 0.98380 0.99300 X 0 DEFERRED INTEREST PAYABLE 601363 601363 1124924 2989442 -1864518 779045 779045 -1085473 1124924 0 1124924 0 1124924 2989442 0 2989442 0 2989442 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: IN JUNE 2006, THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) RELEASED FASB ASC 740-10, INCOME TAXES, THAT PROVIDES GUIDANCE FOR REPORTING UNCERTAINTY IN INCOME TAXES. FOR THE YEARS ENDED SEPTEMBER 30, 2012 AND 2011, IMMDF HAS DOCUMENTED ITS CONSIDERATION OF FASB ASC 740-10 AND DETERMINED THAT NO MATERIAL UNCERTAIN TAX POSITIONS QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED 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 XI, LINE 8 - OTHER ADJUSTMENTS: REDUCTION IN PROVISION FOR UNCOLLECTABLE ACCOUNTS 779,045. MIDDLE EAST AND NORTH AFRICA - 6 13 PROGRAM SERVICES PROVIDE LOANS TO IRAQI BUSINESSES. 2132610 6 13 0 0 6 13 2132610 0 2132610 0 0 0 0 0 1 X 1 1 X X X 0 0 0 0 0 0 0 1 0 JORGE R VILA 205980 0 15000 0 0 0 20598 0 36090 0 277668 0 0 0 PART I, LINE 7 JORGE R. VILA RECEIVED A $15,000 BONUS FROM IMMDF. 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 AND EMPLOYEES ARE NOT RELUCTANT TO MAKE FULL DISCLOSURE OF THEIR ACTIONS OR RELATIONSHIPS WITH PERSPECTIVE VENDORS, CONTRACTORS, OR CONSULTANTS. NO IMMDF EMPLOYEE IS 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 DETERMINED 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 10, 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: REDUCTION IN PROVISION FOR UNCOLLECTABLE ACCOUNTS 779,045. TOTAL TO FORM 990, PART XI, LINE 5: 779,045.