2012-09-10T18:08:12-05:00 2011-12-31 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD SUITE 700 LOS ANGELES CA 900243783 990 2011-01-01 710992446 KIVA MICROFUNDS KIVA 4153587500 875 HOWARD STREET NO 340 SAN FRANCISCO CA 94103 MATTHEW FLANNERY 4153587500 2012-09-05 1 LIOR TEMKIN P00748170 3104773924 2012-09-05 2011 2016-02-24 21:20:13Z X STEFANIE MADRID 875 HOWARD STREET NO 340 SAN FRANCISCO CA 94103 12058555 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 98 500 0 0 11322524 11959428 0 0 118836 95691 73938 3436 11515298 12058555 0 0 0 0 3273400 5518349 0 0 508204 2951691 4600783 6225091 10119132 5290207 1939423 11565224 13741424 443407 721331 11121817 13020093 X KIVA MICROFUNDS ("KIVA") IS A NONPROFIT, TAX-EXEMPT ORGANIZATION FOUNDED IN 2005 TO CONNECT PEOPLE THROUGH LENDING FOR THE SAKE OF ALLEVIATING POVERTY. KIVA EMPOWERS INDIVIDUALS TO LEND TO LOW-INCOME BORROWERS AROUND THE WORLD. KIVA PARTNERS WITH OVER 138 MICROFINANCE INSTITUTIONS ("MFIS") IN MORE THAN 57 COUNTRIES. MFIS 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 MFI, WHO USES THE FUNDS TO REPLENISH THE LOAN THAT HAS BEEN PREDISBURSED TO THE BORROWER, AND ADMINISTERS THE LOAN. TO DATE, KIVA HAS FACILITATED OVER $270M IN LOANS FROM LENDERS THROUGH THE WEBSITE. KIVA IS SUPPORTED PRIMARILY THROUGH INDIVIDUAL AND CORPORATE CONTRIBUTIONS AND GRANTS FROM FOUNDATIONS. 0 0 8265018 KIVA IS PARTNERED WITH OVER 138 GLOBAL MICROFINANCE INSTITUTIONS ("MFIS") IN MORE THAN 57 COUNTRIES ACROSS THE GLOBE. THIS NETWORK OF PARTNERSHIP ENABLES KIVA TO CONNECT WITH BORROWERS SEEKING MICRO-LOANS. KIVA'S MFI PARTNERS ARE RESPONSIBLE FOR SELECTING AND VETTING THE BORROWERS AND ADMINISTRATING THE LOANS. KIVA'S ONLINE PLATFORM CONNECTS THESE BORROWERS WITH OVER 670,000 INDIVIDUALS TO DATE WHO WANT TO CONTRIBUTE LOAN FUNDS VIA THE INTERNET. 8265018 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 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 1 52 0 1 98 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 STEFANIE MADRID 4153587528 875 HOWARD STREET SUITE 340 SAN FRANCISCO CA 94103 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 GEOFF DAVIS 1.00 X 0 0 0 MATTHEW FLANNERY 40.00 X X 127200 0 5952 PREMAL SHAH 40.00 X X 127200 0 8607 NAOMI BAER 40.00 X 102746 0 9511 SAM BIRNEY 40.00 X 133265 0 9598 AUSTIN CHOI 40.00 X 128075 0 11349 JENNIFER HAMILTON 40.00 X 74392 0 2892 TIM HASSETT 40.00 X 126851 0 14159 LISA HOGEN 40.00 X 119181 0 25401 BRITT HUBER 40.00 X 89545 0 3186 ELIZABETH KUENSTLER 40.00 X 41660 0 1100 STEFANIE MADRID 40.00 X 95875 0 9521 SAM MANKIEWICZ 40.00 X 136370 0 9563 KATHERINE WOO 40.00 X 112237 0 6400 ROMA JHAVERI 40.00 X 108390 0 9252 JONATHAN KART 40.00 X 110875 0 6919 SIDARTH KHOSHOO 40.00 X 121803 0 9424 TIM LEDLIE 40.00 X 116136 0 14391 AMY RISCH 40.00 X 123282 0 16396 1995083 0 173621 19 0 0 0 JOHN HILER 875 HOWARD STREET SUITE 340 SAN FRANCISCO CA 94103 MARKETING AND COMMUNICATIONS ADVISOR 114217 SAMANTHA TRIPODI 875 HOWARD STREET SUITE 340 SAN FRANCISCO CA 94103 WEB DESIGNER 112524 2 11959428 183855 11959428 95691 95691 MISCELLANEOUS INCOME 900099 3436 3436 3436 12058555 0 0 99127 1531837 1266267 173729 91841 2877212 2378398 326312 172502 146758 121315 16644 8799 469982 388502 53302 28178 492560 405218 56104 31238 52307 4787 47520 34776 6599 28177 23683 23683 312243 262463 34280 15500 110573 74095 31757 4721 197836 154339 34753 8744 324020 266726 36397 20897 180095 137997 2613 39485 1104898 906196 123834 74868 CONTRACTORS 1189895 1063526 126369 PROMOTIONAL LOAN FUNDIN 325000 325000 MFI PARTNERSHIPS PROGRA 276617 276617 STAFF DEVELOPMENT 120911 16643 103558 710 347929 210330 126878 10721 10119132 8265018 1345910 508204 2244027 1497653 6040791 7554038 923020 1272115 4254 118226 783712 260405 243365 283852 5499900 2831417 1279384 2668483 7250 25000 25000 14421 61652 11565224 13741424 431748 657867 11659 63464 443407 721331 X 9190074 11171184 1931743 1848909 11121817 13020093 11565224 13741424 X 1939423 -41147 X 0 1 1 X 0 X 2507404 4831398 5765776 11322525 11959428 36386531 2507404 4831398 5765776 11322525 11959428 36386531 1570954 1993807 1082872 4230214 3122898 12000745 150000 103818 143327 290749 243866 931760 1720954 2097625 1226199 4520963 3366764 12932505 23454026 57850 370820 132771 118836 95691 775968 57850 370820 132771 118836 95691 775968 102106 2984 73938 3436 182464 2565254 5304324 5901531 11515299 12058555 37344963 0.62800 0.58010 0.02080 0.02660 X SCHEDULE A, PART II, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME PARTNERSHIP INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 33684384 38398267 5102735 66979916 0 156972 46305 110667 566337 280004 286333 4776591 2505108 2271483 2668483 DEFERRED RENT 63464 63464 12058555 10119132 1939423 464 -41611 -41147 1898276 13582629 464 1523610 1524074 12058555 0 12058555 11684353 1565221 1565221 10119132 0 10119132 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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, 2007 THROUGH 2011 RESPECTIVELY, WITH REGARD TO ALL TAX POSITIONS AND RESULTS REPORTED. 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. DONATIONS FROM INTEREST INCOME, AUTO-CONVERTED KIVA CARDS, AND ONLINE DONATIONS ON THESE BANK ACCOUNTS FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010 ARE AS FOLLOWS: 2011 2010 INTEREST INCOME $74,222 $98,192 AUTO-CONVERTED GIFT CERTIFICATES $1,285,879 $525,600 ONLINE DONATIONS $5,890,944 $4,850,506 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, 2011 AND 2010, KIVA INDEMNIFIED, IN THE APPROXIMATE AMOUNT OF $0 AND $3,000 RESPECTIVELY, THE KUF BANK ACCOUNTS FOR A SET OF REPAYMENTS THAT WERE CREDITED TO VARIOUS USERS, BUT FOR WHICH CERTAIN MFI'S ULTIMATELY FAILED TO MAKE THE CONTRACTUALLY REQUIRED CORRESPONDING REPAYMENTS. 1 RUSSIA 0 1 PROGRAM SERVICESPROGRAM SERVICES PARTNER MONITORING 29838 MIDDLE EAST 0 1 PROGRAM SERVICES PARTNER MONITORING 72964 EUROPE 0 2 PROGRAM SERVICES PARTNER MONITORING 76840 EUROPE 0 2 FUNDRAISING N/A 5005 EAST ASIA 0 1 MANAGEMENT N/A 451 EAST ASIA 0 1 FUNDRAISING N/A 106 EAST ASIA 0 1 PROGRAM SERVICES PARTNER MONITORING 82481 SOUTH ASIA 0 0 PROGRAM SERVICES PARTNER MONITORING 20991 CENTRAL AMERICA 0 1 PROGRAM SERVICES PARTNER MONITORING 30512 SOUTH AMERICA 0 2 PROGRAM SERVICES PARTNER MONITORING 83992 NORTH AMERICA 0 0 PROGRAM SERVICES PARTNER MONITORING 5774 SUB-SAHARAN AFRICA 0 0 LOAN MICROFINANCE PROGRAM. THESE CASH LOANS WERE DISTRIBUTED IN AFRICA AND WILL BE REPAID OVER THE COURSE OF THE NEXT YEAR. 6431 SUB-SAHARAN AFRICA 1 4 PROGRAM SERVICES PARTNER MONITORING 394003 SUB-SAHARAN AFRICA 1 4 MANAGEMENT N/A 2400 0 9 2 11 2 20 288676 523112 811788 0 0 0 0 0 0 X 6806 FMV X TELECONFERENCING 5 182080 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS FIRST REVIEWED BY THE STAFF ACCOUNTANT 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 5: NET UNREALIZED GAINS ON INVESTMENTS: 464. DONATED SERVICES AND USE OF FACILITIES: -41,611. TOTAL TO FORM 990, PART XI, LINE 5: -41,147. VOLUNTEER PROGRAM: FORM 990, PART I, LINE 6: IN 2011, KIVA ENGAGED 500 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. KIVA USER FUNDS LLC 875 HOWARD ST SUITE 340 SAN FRANCISCO CA 94103 261778383 FBO ACCOUNT HOLDER CA 0 66979916 N/A