2011-08-12T16:16:56-05:00 2010-12-31 SINGERLEWAK LLP 10960 WILSHIRE BLVD SUITE 700 LOS ANGELES CA 900243783 990 2010-01-01 710992446 KIVA MICROFUNDS KIVA 4153587500 3180 18TH STREET NO 202 SAN FRANCISCO CA 94110 MATTHEW FLANNERY 4153587500 2011-08-10 1 LIOR TEMKIN 3104773924 2011-08-03 2010 2016-02-24 21:20:13Z MATTHEW FLANNERY 3180 18TH STREET NO 202 SAN FRANCISCO CA 94110 11515298 0 X WWW.KIVA.ORG X 2005 CA KIVA'S MISSION IS TO CONNECT PEOPLE, THROUGH LENDING, FOR THE SAKE OF ALLEVIATING POVERTY. 7 5 66 436 0 0 8989177 11322524 0 0 132771 118836 5107 73938 9127055 11515298 0 0 0 0 2942344 3273400 5000 0 319856 5290180 2951691 8237524 6225091 889531 5290207 6195433 11565224 427578 443407 5767855 11121817 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 110 GLOBAL MICROFINANCE INSTITUTIONS ("MFIS") IN MORE THAN FIFTY 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 US$200 MILLION IN LOANS FROM LENDERS THROUGH THE WEBSITE. KIVA IS SUPPORTED PRIMARILY THROUGH INDIVIDUAL AND CORPORATE CONTRIBUTIONS AND GRANTS FROM FOUNDATIONS. 0 0 4949961 KIVA IS PARTNERED WITH OVER 110 MFIS IN MORE THAN 50 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 577,000 INDIVIDUALS TO DATE WHO WANT TO CONTRIBUTE LOAN FUNDS VIA THE INTERNET. 4949961 1 1 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 30 0 1 66 1 0 0 0 0 0 0 0 0 0 0 X 7 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X MATTHEW FLANNERY 4153587500 3180 18TH STREET SUITE 202 SAN FRANCISCO CA 94110 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 128250 0 5620 PREMAL SHAH 40.00 X X 128250 0 7565 NAOMI BAER 40.00 X 91125 0 8996 ISABELLE BARRES 40.00 X 79232 0 170 AUSTIN CHOI 40.00 X 121940 0 9068 JENNIFER HAMILTON 40.00 X 115000 0 9029 TIM HASSETT 40.00 X 117720 0 13384 PHU HOANG 30.00 X 42869 0 4248 LISA HOGEN 30.00 X 43524 0 -200 SAM MANKIEWICZ 40.00 X 125995 0 8101 CAILIN NELSON 40.00 X 103887 0 7635 ZVI BOSHERNITZAN 40.00 X 104600 0 8458 JEREMY FRAZAO 40.00 X 111002 0 15231 BENNETT GRASSANO 40.00 X 102700 0 7138 ROMA JHAVERI 40.00 X 102000 0 8625 JONATHAN KART 40.00 X 111000 0 6504 1629094 0 119572 12 0 0 0 0 11322524 109839 11322524 118836 118836 MISCELLANEOUS INCOME 900099 73938 73938 73938 11515298 0 0 192774 986089 780540 146014 59535 1699749 1345401 251911 102437 73502 58180 10884 4438 229484 181648 33981 13855 284576 225294 41915 17367 10049 10049 60112 60112 17165 17165 126801 113498 13303 56681 33955 18151 4575 105078 76459 22722 5897 223535 176569 33332 13634 89486 75408 3329 10749 718819 569451 103774 45594 CONTRACTORS 894799 806539 88260 MFI PARTNERSHIPS PROGRA 235038 235038 IN-KIND SUPPLIES/MATERI 109838 88810 11045 9983 STAFF DEVELOPMENT 80507 12266 67989 252 VOLUNTEER PROGRAM 71098 71098 152685 99807 21338 31540 6225091 4949961 955274 319856 258082 2244027 3642400 6040791 238000 923020 18491 4254 1013938 783712 121461 243365 3005902 1726518 857765 1279384 5875 7250 25000 25000 14421 14421 6195433 11565224 404499 431748 23079 11659 427578 443407 X 4987770 9190074 780085 1931743 5767855 11121817 6195433 11565224 X 5290207 63755 X X 0 1 1 X 0 X 3104354 2507404 4831398 5765776 11322525 27531457 3104354 2507404 4831398 5765776 11322525 27531457 1451600 1570954 1993807 1082872 4230214 10329447 150000 103818 143327 290749 687894 1451600 1720954 2097625 1226199 4520963 11017341 16514116 78322 57850 370820 132771 118836 758599 78322 57850 370820 132771 118836 758599 102106 2984 73938 179028 3182676 2565254 5304324 5901531 11515299 28469084 0.58010 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 28469545 10134124 4919284 33684385 0 43442 36027 7415 341061 167041 174020 2621399 1523450 1097949 1279384 DEFERRED RENT 11659 11659 11515298 6225091 5290207 1375 62380 63755 5353962 13706451 1375 2189778 2191153 11515298 0 11515298 8352489 2127398 2127398 6225091 0 6225091 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. PART IV, LINE 1B: FUNDS OF KIVA'S USERS ARE HELD SEPARATE AND APART FROM THE OPERATIONAL FUNDS 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, 2010 AND 2009 ARE AS FOLLOWS: 2010 2009 INTEREST INCOME $98,192 $122,381 AUTO-CONVERTED GIFT CERTIFICATES 525,600 364,600 ONLINE DONATIONS 4,850,506 3,590,420 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, 2010 AND 2009, KIVA INDEMNIFIED, IN THE APPROXIMATE AMOUNT OF $3,000 AND $110,000 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. SUB-SAHARAN AFRICA 0 6 PROGRAM SERVICESPROGRAM SERVICES PARTNER MONITORING 377524 EUROPE 0 1 MANAGEMENT 1628 EUROPE 0 1 PROGRAM SERVICES PARTNER MONITORING 80846 EUROPE 0 1 FUNDRAISING 8107 RUSSIA 0 1 PROGRAM SERVICES PARTNER MONITORING 7308 MIDDLE EAST 0 1 PROGRAM SERVICES PARTNER MONITORING 43698 EAST ASIA 0 2 PROGRAM SERVICES PARTNER MONITORING 119263 SOUTH ASIA 0 0 PROGRAM SERVICES PARTNER MONITORING 3409 CENTRAL AMERICA 0 1 PROGRAM SERVICES PARTNER MONITORING 14014 SOUTH AMERICA 0 2 PROGRAM SERVICES PARTNER MONITORING 80042 NORTH AMERICA 0 2 PROGRAM SERVICES PARTNER MONITORING 74654 13 5 18 641783 168710 810493 0 0 0 0 0 0 X 53 109839 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS FIRST REVIEWED BY THE ACCOUNTING MANAGER 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 18 CURRENTLY KIVA MAKES ITS FORM 990 AVAILABLE FOR INSPECTION ON ITS WEBSITE WWW.KIVA.ORG AND UPON REQUEST. KIVA'S FORM 1023 IS MADE AVAILABLE UPON REQUEST BY THE INDIVIDUAL. FORM 990, PART VI, SECTION C, LINE 19 CURRENTLY, KIVA MAKES AVAILABLE COPIES OF ITS FINANCIAL STATEMENTS VIA ITS WEBSITE. GOVERNING DOCUMENTS INCLUDING THE CONFLICT OF INTEREST POLICY ARE AVAILABLE VIA ITS WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,375. DONATED SERVICES AND USE OF FACILITIES: 62,380. TOTAL TO FORM 990, PART XI, LINE 5: 63,755. FORM 990, PART XI, LINE 2C: SINCE THE FILING OF THE 2009 INFORMATIONAL RETURN, THERE HAVE BEEN NO CHANGES TO THE AUDIT OVERSIGHT AND SELECTION PROCESS. VOLUNTEER PROGRAM: FORM 990, PART I, LINE 6: IN 2010, KIVA ENGAGED 436 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 3180 18TH STREET SUITE 202 SAN FRANCISCO CA 94110 261778383 FBO ACCOUNT HOLDER CA 33684384 N/A