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Top Rated

FINCA International

CharityWatch report issued
June 2018

Top-Rated Charity
A
CharityWatch Grade
Our independent grade based
on a number of factors.
 
95%
Program Percentage
Amount spent on programs
relative to overhead.
 
$17
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

FINCA International
1201 15th Street, NW
8th Floor
Washington, DC 20005

Other Names

Foundation for International Community Assistance

Tax Status

501(c)3

Website

www.finca.org

Stated Mission

To alleviate poverty through lasting solutions that help people build assets, create jobs, and raise their standard of living.

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Data based on Fiscal Year Ended 12/31/2016

Program Percentage: 95%

The percentage of FINCA International's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$335,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $17

How many dollars FINCA International spends on fundraising to raise each $100 of contributions.

$20,000,000

Calculated Total Contributions

(rounded)

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
FINCA International IRS Form 990 13-3240109
FINCA International Audited Consolidated Financial Statements Multiple
Entity: FINCA International
Document Type: IRS Form 990
Tax ID: 13-3240109
Entity: FINCA International
Document Type: Audited Consolidated Financial Statements
Tax ID: Multiple

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
FINCA International
meets governance benchmarks.
 
FINCA International
meets transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy

  Name Title Compensation
1 Soledad Gompf VP, New Business Development $678,524
  Note: Includes $463,831 retirement and other deferred compensation.
2 Rupert W. Scofield President/Co-CEO $427,999
3 Andree Simon VP/Co-CEO $321,655
1
Name: Soledad Gompf
Title: VP, New Business Development
Compensation: $678,524
Note: Includes $463,831 retirement and other deferred compensation.
2
Name: Rupert W. Scofield
Title: President/Co-CEO
Compensation: $427,999
3
Name: Andree Simon
Title: VP/Co-CEO
Compensation: $321,655

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.
CharityWatch's rating of FINCA International is based on its consolidated audit, which also includes the financial activities of the subsidiaries that are owned and/or controlled by FINCA through FINCA Microfinance Holding Company, LLC.





According to Note 1 of the FINCA 2016 consolidated audit:



"In October 2010, FINCA formed a 100% owned limited liability company subsidiary, FINCA Microfinance Holding Company, LLC (FMH)... In December 2011, FINCA reorganized its structure by placing all of its microfinance institutions under FMH, the holding company through which it could obtain additional capital for expansion of FINCA's mission. ... In exchange for its majority ownership in FMH, FINCA contributed the ownership of all of its microfinance operating subsidiaries to FMH, in which all operating subsidiaries became wholly owned subsidiaries of FMH..."



"Since 2011, FMH and its subsidiaries were operated and managed by FINCA, its ultimate parent company, through terms set out in a management services agreement (MSA). Under the MSA, FINCA managed and protected FMH's capital investments in the microfinance operating subsidiaries..."



[...]



"As of December 31, 2016, FINCA through FMH operates in 21 developing countries in Latin America (Ecuador, Guatemala, Haiti, Honduras, and Nicaragua), Africa (Democratic Republic of the Congo, Malawi, Nigeria, Tanzania, Uganda, and Zambia), Eurasia (Armenia, Azerbaijan, Georgia, Kosovo, Kyrgyzstan, Russia, and Tajikistan), and the Middle East (Afghanistan, Jordan, and Pakistan). FINCA operates through local entities ('subsidiaries') that are owned and/or controlled by FINCA through FMH. Subsidiaries are organized primarily as corporations but also, in some cases, as nongovernmental organizations, or as branches of FINCA International..."





Whenever practicable, CharityWatch obtains consolidated or combined audited financial statements that include all of the entities of a charity. Such an audit eliminates transactions among related entities and allows us to determine how efficiently an organization is operating on the whole.



For more information on this topic, please see our section on Treatment of Related Organizations, which can be found on the Our Process page.
According to the FINCA International consolidated audit of December 31, 2016 (Note 3, Contributed Services and Gifts), FINCA reports receiving in-kind contributed services and gifts on which it placed a value of approximately $3.0 million in 2016.



[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]
According to the FINCA International consolidated audit of December 31, 2016 (Note 23, Discontinued Operations):



"In 2016, FINCA sold its interests in two subsidiaries--FINCA S.A de CV ('FINCA El Salvador') was sold in June 2016 and Financiera Finca S.A de C.V SOFOM ENR Mexico ('SOFOM') was sold in November 2016."



[...]



"Results of the discontinued operations in 2016 includes the net income or loss for both FINCA El Salvador and SOFOM for the period up to disposition in 2016."





FINCA reports a $513,989 "Loss from discontinued operations" on its audited Consolidated Statement of Activities for the year ended December 31, 2016.
According to the FINCA International 2016 tax filing, FINCA reports re: Compensation Information (IRS Form 990 Schedule J, Part III):



"Severance payments were made to the following persons: Ronald Aizer and Scott Tindall in the amount of $34,753 and $26,938, respectively."





Scott Tindall is reported as "Director Treasury Serv. (end 10/16)," with total compensation of $182,123 in 2016. Ronald Aizer is not reported among the Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees compensated more than $100,000 in 2016 by FINCA (IRS Form 990 Schedule J, Part II).
According to the FINCA International 2016 tax filing, FINCA reports paying a family member of the CEO $39,690 for employment in 2016 (IRS Form 990 Schedule L, Part IV).

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