{"success":true,"data":{"_id":43828582,"filings":[{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and relief of the poor through microfinance investments.","primary_activities":"Microfinance Investments - The Fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, savings, insurance, remittances and payment services, to poor and low-income households and to micro-enterprises. All capital assets of the Fund will be used exclusively for one or both of the following purposes: (i) direct investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro-enterprises.","year":2009,"name":"THE OMIDYAR-TUFTS MICROFINANCE FUND","phone":"6176273816","website":"WWW.TUFTS.EDU/MICROFINANCEFUND/","type":"990","foreign_countries":["Afghanistan","Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Australia","Austria","Bahamas","Bangladesh","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bhutan","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","China","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hong Kong","Hungary","Iceland","India","Indonesia","Iran","Ireland","Isle of Man","Italy","Jamaica","Japan","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Macau","Madagascar","Malawi","Malaysia","Maldives","Mali","Malta","Marshall Islands","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Micronesia","Moldova","Monaco","Mongolia","Montenegro","Montserrat","Mozambique","Namibia","Nauru","Nepal","Netherlands","New Zealand","Nicaragua","Niger","Nigeria","Niue","North Korea","North Macedonia","Norway","Pakistan","Palau","Panama","Papua New Guinea","Philippines","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","Samoa","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Solomon Islands","Somalia","South Africa","South Korea","South Sudan","Spain","Sri Lanka","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Taiwan","Tanzania","Togo","Tonga","Trinidad and Tobago","Turks and Caicos Islands","Tuvalu","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vanuatu","Vatican City","Zambia","Zimbabwe","Åland Islands"],"principal_officer":"LAWRENCE S BACOW","year_formation":2005,"state_legal_domicile":"MA","total_volunteers":0,"tax_period_begin":"2009-07-01T00:00:00","tax_period_end":"2010-06-30T00:00:00","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":true,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":true,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":true,"Independent audit financial statements":false,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":1986797,"Contributions":{"value":0},"Program revenue":{"value":0,"Unrelated business revenue":0},"Investment income":{"value":1941797,"Investment income total":1992652,"Net investment gain":-50855},"Other revenues":{"value":45000,"Other total":45000}},"Expenses":{"value":660840,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":448481,"Current officers":286599,"Other salaries and wages":108701,"Payroll taxes":53181},"Other expenses":{"value":212359,"Legal":39076,"Accounting":34500,"Investment management fees":8978,"Office expenses":26270,"Travel":97035,"Itemized Expenses":6500}},"Assets":{"value":115390176,"Savings and temp cash investments":22227149,"Accounts receivable":336718,"Investments other":92826309},"Liabilities":{"value":180485,"Accounts payable, accrued":180485},"Fund balance":{"value":115209691},"Form990Details":{"program_service_accomplishments":[{"description":"Microfinance Investments - The Fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, savings, insurance, remittances and payment services, to poor and low-income households and to micro-enterprises. All capital assets of the Fund will be used exclusively for one or both of the following purposes: (i) direct investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro-enterprises.","expense":581492,"revenue":1986797}],"functional_expense_allocations":{"current_officers_directors":{"program_services":257939,"management_and_general":28660,"total":286599},"other_salaries_and_wages":{"program_services":97831,"management_and_general":10870,"total":108701},"payroll_taxes":{"program_services":47863,"management_and_general":5318,"total":53181},"legal_fees":{"program_services":39076,"total":39076},"accounting_fees":{"management_and_general":34500,"total":34500},"investment_management_fees":{"program_services":8978,"total":8978},"office_expenses":{"program_services":26270,"total":26270},"travel":{"program_services":97035,"total":97035}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true},"principal_officer_detail":{"person_name":"LAWRENCE S BACOW","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"audited_financial_statement_consolidated":true,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":2974025},"books_are_in_care_of":{"phone":"6176273816","business_name_line1":"TUFTS UNIVERSTIY GENERAL ACCOUNTING","address_line1":"169 HOLLAND STREET 3RD FLOOR","city":"SOMERVILLE","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":631904,"other_compensation":107489,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"DIRector of INVestments","average_hours_per_week":40.0,"reportable_comp_from_org":219024,"reportable_comp_from_related_orgs":0,"other_compensation":24511,"key_employee":true},{"title":"CIO","average_hours_per_week":4.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":328950,"other_compensation":53997,"highest_compensated_employee":true}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"sum_of_amounts":0,"rows":[{"ein":42103634,"organization_type":"02","support_amount":0,"governing_document_listed":true,"supported_org_notified":true,"us_organized":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled_prior_schema":false,"contribution_controller_prior_schema":false,"contribution_related_party_prior_schema":false}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"land_buildings_equipment":{"total_book_value":0},"securities":{"other_securities":[{"description":"PRIVATE EQUITY INVESTMENTS","book_value":41727864,"method_of_valuation":"F"},{"description":"VENTURE CAPITAL","book_value":12929782,"method_of_valuation":"F"},{"description":"velifin investment","book_value":3000000,"method_of_valuation":"F"},{"description":"FIXED INCOME","book_value":35168663,"method_of_valuation":"F"}],"total_book_value":92826309},"net_assets_reconciliation":{"total_revenue":1986797,"total_expenses":660840,"excess_or_deficit_for_year":1325957,"net_unrealized_gains_losses_on_investments":-1828869,"total_adjustments":-1828869,"excess_or_deficit_per_financial_statements":-502912},"revenue_reconciliation":{"total_revenue_audited_financial_statements":157928,"revenue_not_reported":0,"revenue_subtotal":157928,"other_revenues_not_included":1828869,"revenue_not_reported_financial_statement":1828869,"total_revenue_per_990":1986797},"expense_reconciliation":{"total_expenses_audited_financial_statements":660840,"expenses_not_reported":0,"expenses_subtotal":660840,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":660840},"supplemental_information":[{"identifier":"Part XII, Line 4b - Other Adjustments:","explanation":"NET UNREALIZED LOSS ON INVESTMENTS: 1828869."}]},"ScheduleF":{"regions":[{"region":"East Asia and the Pacific","activity_type":"Program Services","services":"Delivery of Microfinance Programs & Services","total_expenditures":0},{"region":"Europe (Including Iceland & Greenland)","activity_type":"Program Services","services":"Delivery of Microfinance Programs & Services","total_expenditures":0},{"region":"North America","activity_type":"Program Services","services":"Delivery of Microfinance Programs & Services","total_expenditures":0},{"region":"Russia & the Newly Independent States","activity_type":"Program Services","services":"Delivery of Microfinance Programs & Services","total_expenditures":0},{"region":"South Asia","activity_type":"Program Services","services":"Delivery of Microfinance Programs & Services","total_expenditures":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"Delivery of Microfinance Programs & Services","total_expenditures":0},{"region":"Central America and the Caribbean","activity_type":"Program Services","services":"Investments","total_expenditures":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"Investments","total_expenditures":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":0},"supplemental_information":[{"identifier":"Method Used to Acccount for Expenditures:","explanation":"Schedule F, Part I, Line 3: THE OMIDYAR-TUFTS MICROFINANCE FUND does not currently track foreign expenditures for each program separately. Therefore, pursuant to IRS guidance, disclosure in this column is not required in the current year."}]},"ScheduleJ":{"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":true,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":false,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":false,"equity_based_compensation_arrangement":false},"compensation":[{"business_name_line1":"LAWRENCE BACOW","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":631904,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":47910,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":59579,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":0,"total_compensation_related_orgs":739393,"name":"LAWRENCE BACOW"},{"business_name_line1":"TRYFAN D EVANS","base_compensation_filing_org":195022,"bonus_filing_org":24002,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":14913,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":9598,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":243535,"total_compensation_related_orgs":0,"name":"TRYFAN D EVANS"},{"business_name_line1":"SALLY DUNGAN","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":328950,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":31410,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":22587,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":0,"total_compensation_related_orgs":382947,"name":"SALLY DUNGAN"}],"supplemental_information":[{"form_and_line_reference":"Part I, Line 6","explanation":"TRYFAN D. EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN ANNUAL INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR-TUFTS MICROFINANCE FUND AND WAS PAID A BONUS OF $24,002 IN 2009. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK."},{"form_and_line_reference":"Part III","explanation":"SCH J, PART II THE OMIDYAR-TUFTS MICROFINANCE FUND DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE FOR USE OF ITS EMPLOYEES."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities":"EDUCATION","exempt_code_section":"501(C)(3)","public_charity_status":"2","legal_domicile_state":"MA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROSSAPI DE CVSOFOMENR","primary_activity":"MICROFINANCE COMPANY","ownership_percentage":0.69,"share_of_total_income":-1322351,"share_of_end_of_year_assets":3811198,"legal_domicile_foreign_country":"MX","foreign_address_line1":"P DE LA REFORMA NO 381 - 4TO PIS","foreign_city":"COLONIA CUAUHTEMOC","foreign_postal_code":"06500","foreign_country":"MX","type_of_entity":"C","name":"VEHICULOS LIQUIDOS FINANCIEROSSAPI DE CVSOFOMENR","foreign_address":"P DE LA REFORMA NO 381 - 4TO PIS, COLONIA CUAUHTEMOC, 06500, MX"}],"transaction_flags":{"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":false,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":true},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":583862,"transaction_type":"O","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROSSAPI DE CVSOFOMENR","amount_involved":3000000,"transaction_type":"Q","name":"VEHICULOS LIQUIDOS FINANCIEROSSAPI DE CVSOFOMENR"}]},"source_xml":"201101329349303645_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and relief of the poor through microfinance investments.","primary_activities":"Microfinance investments - the fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, savings, insurance, remittances and payment services, to poor and low-income households and to micro-enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) direct investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro-enterprises.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the Trustees of Tufts College, by engaging in two activities: promoting the relief of the poor and distressed through microfinance investments, and promoting education through grants. During the year ended June 30, 2015, the Omidyar-Tufts Microfinance Fund disbursed over $11.9 million in microfinance investments. At June 30, 2015 the fund had made 15 investments amounting to $135 million since inception. To date, the fund has provided investment capital for microfinance in Latin America, Africa, Eastern and Central Europe and Central Asia. The fund currently has investments in over 50 countries. Microfinance Investments The Fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, equity savings, insurance, remittances and payment services, that economically empower and benefit the poor, low-income households, and micro and small enterprises. All capital assets of the Fund will be used exclusively for one or both of the following purposes: (i) investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro and small enterprises. Poor and Low-Income Households The vast majority of the world's poorest people lack access to even the most basic financial services. The poor are shut out of the system for two primary reasons. First, traditional banking systems require borrowers to have property - to use financial terms, \"collateral\" - in order to receive a loan, and the extremely poor have no such collateral. Second, traditional banks believe it is difficult to make a commercially reasonable rate of return on small loans of the type sought by people who are extremely poor (usually between $50 and $150) because the interest benefits do not exceed the transaction costs. Without access to such services, the world's poorest people are unable to break out of the cycle of poverty that keeps them trapped at subsistence standards of living. They lack the ability to borrow and save, and without insurance, their livelihoods are always in danger of being wiped out by natural or other disasters. Microfinance programs address these problems. They have helped millions of people in developing countries raise their standards of living and protect themselves from crippling economic setbacks. Microfinance products such as savings accounts, microcredit loans of small amounts, and affordable health insurance empower the poor to lift themselves out of poverty by enabling them to secure better nutrition, education, healthcare and housing for their families. Microfinance institutions (\"MFIs\") differ from traditional banks in several significant ways. First, for example, rather than solely focusing on individual borrowers and individual collateral, MFIs sometimes lend to groups of borrowers, relying on social capital to ensure loan repayment. Another significant difference between MFIs and traditional banks is that the loan cycles offered by MFIs are usually shorter than traditional commercial loans - typically six months to a year, with payments plus interest due weekly or monthly. The transaction-intense nature of weekly payment collections, often in rural areas, is more expensive than running a bank branch that provides large loans to economically secure borrowers in metropolitan areas. As a result, MFIs must charge interest rates that may seem high - often 30 percent to 70 percent annually - in order to cover their costs. However, these interest rates are significantly lower than the market rates for the only other credit that is available to very poor borrowers - namely, the 300 percent to 3,000 percent annual rates charged by local money lenders. Finally, MFIs generally focus their efforts on women, who have a higher unemployment rate than men in most countries and who make up the majority of the informal sector of most economies. Because women are usually primary or sole family caretakers in many developing countries and tend to put the needs of children first, putting extra income in women's hands is often the most efficient way to increase the standard of living of an entire family. Many studies of microcredit recipients have shown that women invest their savings in their children's education, which in turn enables the children to escape the cycle of poverty and bring extra income into the family. Providing microcredit loans to women, therefore, tends to create a multiplier effect that increases the impact of an MFI's activities, benefiting multiple generations. Studies have shown that MFIs and microfinance opportunities have dramatically relieved the plight of the poor and distressed. MFIs serve more than 80 million poor people in developing countries with over $7 billion in outstanding microcredit loans. For example, in July 2004, Grameen Bank, the best-known and original MFI in the world, had 3.7 million borrowers, 96 percent of whom were women. With help from charitable organizations, that organization grew from a small test project in the late 1970s to be the biggest provider of microcredit in Bangladesh, with branches in 68% of that country's villages. Its success has been well documented by groups such as the World Bank. The Fund hopes to assist in the creation of similar success stories in other developing countries. Micro-enterprises The Fund will also support MFIs that work with micro and small enterprises via microfinance investments. Micro and small enterprises are businesses with typically fewer than 100 employees, including unpaid family members. Often micro-enterprises involve only one person, the owner-operator. Other defining characteristics are a low level of assets and low income of the owner. Micro-enterprises exist on the fringe of most formal economies and often arise when formal unemployment rises or when economic hardship strikes. Typical micro-enterprise activities are food processing, handicraft production, repair services, dressmaking, food vending and trading. These types of activities often provide the only opportunities for the poorest members of a community to increase their standard of living. Supporting such endeavors contributes greatly to the advancement of society and the relief of extreme poverty by enabling the world's poorest people to engage with dignity in small-scale grassroots businesses endeavors that would otherwise fail to attract the small amounts of seed capital necessary to their success. Micro-enterprises expand the opportunities for the poor to become self-sufficient and protect themselves in times of crisis. Micro-enterprises generally serve only members of the immediate community, becoming stabilizing forces in otherwise unstable communities. They thus contribute to the economic and social well-being of the entire community, not just the direct participants.","year":2014,"name":"THE OMIDYAR-TUFTS MICROFINANCE FUND","phone":"6176272144","type":"990","foreign_countries":["Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","total_volunteers":0,"tax_period_begin":"2014-07-01T00:00:00","tax_period_end":"2015-06-30T00:00:00","address":"169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":true,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":true,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":336020,"Contributions":{"value":0},"Program revenue":{"value":0,"Total other revenue":0},"Investment income":{"value":336020,"Investment income total":1328792,"Net investment gain":-992772},"Other revenues":{"value":0,"Other total":0}},"Expenses":{"value":502071,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":367304,"Current officers":263804,"Other salaries and wages":80154,"Payroll taxes":23346},"Other expenses":{"value":134767,"Legal":44963,"Accounting":37310,"Investment management fees":46799,"Other services":0,"Office expenses":2268,"Travel":1882,"Itemized Expenses":1545,"All other expenses":0},"Functional Expenses":{"Program Service Expenses":428031,"Management And General Expenses":74040,"Fundraising Expenses":0}},"Assets":{"value":111247197,"Savings and temp cash investments":17809961,"Receivables from officers":0,"Land, building, equipment":0,"Investments other":92849864,"Other assets":587372},"Liabilities":{"value":145948,"Accounts payable, accrued":145948,"Other liabilities":0},"Fund balance":{"value":111101249,"Temporarily restricted net assets":111101249},"Form990Details":{"program_service_accomplishments":[{"description":"MICROFINANCE INVESTMENTS - THE FUND'S GOVERNING DOCUMENT DEFINES \"MICROFINANCE\" AS THE DELIVERY OF FINANCIAL SERVICES, SUCH AS CREDIT, SAVINGS, INSURANCE, REMITTANCES AND PAYMENT SERVICES, TO POOR AND LOW-INCOME HOUSEHOLDS AND TO MICRO-ENTERPRISES. ALL CAPITAL ASSETS OF THE FUND WILL BE USED EXCLUSIVELY FOR ONE OR BOTH OF THE FOLLOWING PURPOSES: (I) DIRECT INVESTMENT IN MICROFINANCE-RELATED VENTURES, AND (II) THE CREDIT ENHANCEMENT OF MICROFINANCE-RELATED VENTURES, SUCH AS BY PROVIDING LOAN GUARANTEES. THESE MICROFINANCE INVESTMENTS ARE INTENDED TO BENEFIT POOR AND LOW-INCOME INDIVIDUALS, BOTH AS MEMBERS OF HOUSEHOLDS AND AS OWNERS OF MICRO-ENTERPRISES.","expense":428031,"grants":0,"revenue":336020}],"functional_expense_allocations":{"current_officers_directors":{"program_services":237424,"management_and_general":26380,"total":263804},"other_salaries_and_wages":{"program_services":72139,"management_and_general":8015,"total":80154},"payroll_taxes":{"program_services":21011,"management_and_general":2335,"total":23346},"legal_fees":{"program_services":44963,"total":44963},"accounting_fees":{"management_and_general":37310,"total":37310},"investment_management_fees":{"program_services":46799,"total":46799},"other_service_fees":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0},"office_expenses":{"program_services":2268,"total":2268},"travel":{"program_services":1882,"total":1882},"all_other_expenses":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_vi":true},"principal_officer_detail":{"business_name_line1":"Anthony P Monaco"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":0},"books_in_care_of_detail":{"phone":"6176272144","business_name_line1":"Edward Mahoney Accounting Director","address_line1":"169 Holland Street","city":"Somerville","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"business_name_line1":"ANTHONY P MONACO","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":60.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":754992,"other_compensation":124053,"individual_trustee_or_director":true,"name":"ANTHONY P MONACO"},{"business_name_line1":"JAMES STERN","title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"JAMES STERN"},{"business_name_line1":"MICHAEL MOHR","title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"MICHAEL MOHR"},{"business_name_line1":"PIERRE M OMIDYAR","title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"PIERRE M OMIDYAR"},{"business_name_line1":"SETH MERRIN","title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"SETH MERRIN"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":299924,"other_compensation":108224,"key_employee":true,"name":"TRYFAN D EVANS"},{"business_name_line1":"SALLY DUNGAN","title":"CIO","average_hours_per_week":1.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":664728,"other_compensation":348186,"key_employee":true,"name":"SALLY DUNGAN"},{"business_name_line1":"KIMBERLY R WATTRICK","title":"INVESTMENT OFFICER - END DATE 7/9/2014","average_hours_per_week":40.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":92882,"other_compensation":10358,"highest_compensated_employee":true,"name":"KIMBERLY R WATTRICK"}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"supported_organizations_count":1,"sum_of_amounts":412252,"other_support_sum":0,"rows":[{"ein":42103634,"organization_type":"2","support_amount":412252,"other_support_amount":0,"governing_document_listed":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled":false,"contribution_controller":false,"contribution_family":false,"controlled_by_disqualified_person":false,"disqualified_person_controlling_interest":false,"disqualified_person_ownership_interest":false,"excess_business_holdings_rules":false,"listed_by_name_governing_doc":true,"loan_disqualified_person":false,"organization_change_supported_org":false,"payment_substantial_contributor":false,"support_non_supported_org":false,"supported_org_not_organized_us":false,"supported_org_section_c456":false,"supporting_org_no_irs_determination":false,"type1_operate_benefit_non_supported_org":false,"type1_power_appoint_majority":true},"supplemental_information":{"part_vi":[{"form_and_line_reference":"Schedule A, Part I LINE 11(G)(V) - AMOUNT OF MONETARY SUPPORT","explanation":"TRUSTEES OF TUFTS COLLEGE, A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS MICROFINANCE FUND (THE FUND), PAID OPERATING COSTS FOR THE FUND TOTALLING APPROXIMATELY $468,000 FOR THE YEAR-ENDED JUNE 30, 2015. THE FUND REIMBURSED THE UNIVERSITY FOR $412,252 OF THESE COSTS. THE BALANCE OF THE COSTS NOT YET REIMBURSED AT JUNE 30, 2015 IS $55,748. THE OPERATING COSTS INCURRED BY THE FUND INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO MANAGE THE FUNDS INVESTMENTS."}]}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"endowment_funds":{"current_year":{"beginning_year_balance":112739798,"investment_earnings_or_losses":-1136478,"other_expenditures":428031,"administrative_expenses":74040,"end_year_balance":111101249},"current_year_minus1":{"beginning_year_balance":116264965,"investment_earnings_or_losses":-2771188,"other_expenditures":661276,"administrative_expenses":92703,"end_year_balance":112739798},"current_year_minus2":{"beginning_year_balance":114742033,"investment_earnings_or_losses":3879390,"grants_or_scholarships":1522929,"other_expenditures":732296,"administrative_expenses":101233,"end_year_balance":116264965},"current_year_minus3":{"beginning_year_balance":117910008,"investment_earnings_or_losses":-2485322,"other_expenditures":594566,"administrative_expenses":88087,"end_year_balance":114742033},"current_year_minus4":{"beginning_year_balance":115209691,"investment_earnings_or_losses":7985828,"grants_or_scholarships":4636895,"other_expenditures":564615,"administrative_expenses":84001,"end_year_balance":117910008},"board_designated_eoy_percentage":0.0,"permanent_endowment_eoy_percentage":0.0,"term_endowment_eoy_percentage":1.0,"held_by_unrelated_organizations":false,"held_by_related_organizations":false},"securities":{"closely_held_equity_interests":{"book_value":5642419,"method_of_valuation":"F"},"other_securities":[{"description":"VENTURE CAPITAL","book_value":26853307,"method_of_valuation":"F"},{"description":"FIXED INCOME","book_value":14527815,"method_of_valuation":"F"},{"description":"PRIVATE EQUITY INVESTMENTS","book_value":45826323,"method_of_valuation":"F"}],"total_book_value":92849864},"other_liabilities":{"total_liability":0,"footnote_text":true},"revenue_reconciliation":{"total_revenue_audited_financial_statements":-1136478,"net_unrealized_gains_investments":-1472498,"other_revenue":0,"revenue_not_reported":-1472498,"revenue_subtotal":336020,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":336020},"expense_reconciliation":{"total_expenses_audited_financial_statements":502071,"other_expenses_included":0,"expenses_not_reported":0,"expenses_subtotal":502071,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":502071},"supplemental_information":[{"form_and_line_reference":"Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote","explanation":"US GAAP REQUIRES THE OMIDYAR-TUFTS MICROFINANCE FUND (THE FUND) TO EVALUATE TAX POSITIONS TAKEN BY THE FUND AND RECOGNIZE A TAX LIABILITY(OR ASSET) IF THE FUND HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE FUND HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2015, THERE ARE NO SIGNIFICANT UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS."}]},"ScheduleF":{"regions":[{"region":"Central America and the Caribbean","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":17246000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":57478000,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":7945000,"employees":0,"offices":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":6995000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":701,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":889,"employees":0,"offices":0},{"region":"Russia and Neighboring States","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":292,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":89665882,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":89665882,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":0},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false}},"ScheduleJ":{"benefits_and_procedures":{"first_class_or_charter_travel":true,"substantiation_required":true,"written_policy_travel_and_entertainment":true},"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":true,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"business_name_line1":"ANTHONY P MONACO","title":"TRUSTEE","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":673645,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":50650,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":73403,"other_compensation_filing_org":0,"other_compensation_related_orgs":81347,"total_compensation_filing_org":0,"total_compensation_related_orgs":879045,"name":"ANTHONY P MONACO"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":71587,"compensation_based_on_related_orgs":228111,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":40608,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":83857,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":24367,"other_compensation_filing_org":0,"other_compensation_related_orgs":226,"total_compensation_filing_org":0,"total_compensation_related_orgs":408148,"name":"TRYFAN D EVANS"},{"business_name_line1":"SALLY DUNGAN","title":"CIO","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":297407,"compensation_based_on_related_orgs":364723,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":126455,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":273348,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":74838,"other_compensation_filing_org":0,"other_compensation_related_orgs":2598,"total_compensation_filing_org":0,"total_compensation_related_orgs":1012914,"name":"SALLY DUNGAN"}],"supplemental_information":[{"form_and_line_reference":"Schedule J, Part III SCH J, PART II","explanation":"THE OMIDYAR-TUFTS MICROFINANCE FUND (OTMF) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR OTMF INCENTIVE PLANS."},{"form_and_line_reference":"Schedule J, Part I, Line 1a First-class or charter travel","explanation":"THE DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND AND OTHER STAFF WHO WORK ON THE FUNDS' INVESTMENTS TRAVEL ABROAD PERIODICALLY FOR MISSION RELATED PURPOSES. THE AIRLINE ACCOMMODATIONS MAY INCLUDE FIRST-CLASS SEATING WHEN THE TRAVEL IS FOR A PERIOD OF EIGHT HOURS OR MORE. DURING THE CURRENT FISCAL YEAR, ONE KEY EMPLOYEE TRAVELLED USING SUCH AIRLINE ACCOMODATIONS. THE VALUE OF WHICH WAS NOT INCLUDED IN HIS TAXABLE COMPENSATION AS IT WAS A BUSINESS EXPENSE."},{"form_and_line_reference":"Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 80% OF HIS BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINES 6(A) AND 7. SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 100% OF HER BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINES 6(A) AND 7."},{"form_and_line_reference":"Schedule J, Part I, Line 6a Compensation contigent on net earnings of the organization","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $71,587 WAS MADE IN FYE 06/30/2014 AND LATER PAID IN AUGUST, 2014. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B). SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $297,407 WAS MADE IN FYE 06/30/14 AND LATER PAID IN AUGUST, 2014. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B)."},{"form_and_line_reference":"Schedule J, Part I, Line 7 Non-fixed payments","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS OF $36,367 FOR HIS INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B) AND IS INCLUDED AS PART OF THE BONUS PAYOUT FROM LINE 6A. SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PLAN AND RECEIVED A NON-FIXED PAYMENT OF $73,236 FOR HER INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B) AND IS INCLUDED AS PART OF THE BONUS PAYOUT FROM LINE 6A."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities_text":"EDUCATION","exempt_code_section_text":"501(c)(3","public_charity_status_text":"2","controlled_organization_indicator":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","primary_activity":"MICROFINANCE COMPANY","ownership_percentage":0.6662,"share_of_total_income":-773631,"share_of_end_of_year_assets":20347132,"legal_domicile_foreign_country":"MX","direct_controlling_business_name_line1":"NA","foreign_address_line1":"PASEO DE LA REFORMA 381 PISO 5","foreign_province_or_state":"CUAUHTEMOC","foreign_postal_code":"06500","foreign_country":"MX","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"VEHICULOS LIQUIDOS FINANCIEROS","foreign_address":"PASEO DE LA REFORMA 381 PISO 5, CUAUHTEMOC, 06500, MX"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":false},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":55748,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"M","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":412252,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"}]},"source_xml":"201611339349301996_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and relief of the poor through microfinance investments.","primary_activities":"Microfinance investments - the fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, savings, insurance, remittances and payment services, to poor and low-income households and to micro-enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) direct investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro-enterprises.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the trustees of tufts college, by engaging in two activities: promoting the relief of the poor and distressed through microfinance investments, and promoting education through grants. During the year ended june 30, 2012, the omidyar-tufts microfinance fund disbursed over $5.5 million in microfinance investments. At june 30, 2012 the fund had made ten investments amounting to $103.7 million since inception. To date, the fund has provided investment capital for microfinance in latin america, africa, eastern and central europe and central asia. The fund currently has investments in 40 countries. Microfinance investments. The fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, equity savings, insurance, remittances and payment services, that economically empower and benefit the poor, low-income households, and micro and small enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro and small enterprises. Poor and low-income households - the vast majority of the world's poorest people lack access to even the most basic financial services. The poor are shut out of the system for two primary reasons. First, traditional banking systems require borrowers to have property - to use financial terms, \"collateral\" - in order to receive a loan, and the extremely poor have no such collateral. Second, traditional banks believe it is difficult to make a commercially reasonable rate of return on small loans of the type sought by people who are extremely poor (usually between $50 and $150) because the interest benefits do not exceed the transaction costs. Without access to such services, the world's poorest people are unable to break out of the cycle of poverty that keeps them trapped at subsistence standards of living. They lack the ability to borrow and save, and without insurance, their livelihoods are always in danger of being wiped out by natural or other disasters. Microfinance programs address these problems. They have helped millions of people in developing countries raise their standards of living and protect themselves from crippling economic setbacks. Microfinance products such as savings accounts, microcredit loans of small amounts, and affordable health insurance empower the poor to lift themselves out of poverty by enabling them to secure better nutrition, education, healthcare and housing for their families. Microfinance institutions (\"mfis\") differ from traditional banks in several significant ways. First, for example, rather than solely focusing on individual borrowers and individual collateral, mfis sometimes lend to groups of borrowers, relying on social capital to ensure loan repayment. Another significant difference between mfis and traditional banks is that the loan cycles offered by mfis are usually shorter than traditional commercial loans - typically six months to a year, with payments plus interest due weekly or monthly. The transaction-intense nature of weekly payment collections, often in rural areas, is more expensive than running a bank branch that provides large loans to economically secure borrowers in metropolitan areas. As a result, mfis must charge interest rates that may seem high - often 30 percent to 70 percent annually - in order to cover their costs. However, these interest rates are significantly lower than the market rates for the only other credit that is available to very poor borrowers - namely, the 300 percent to 3,000 percent annual rates charged by local money lenders. Finally, mfis generally focus their efforts on women, who have a higher unemployment rate than men in most countries and who make up the majority of the informal sector of most economies. Because women are usually primary or sole family caretakers in many developing countries and tend to put the needs of children first, putting extra income in women's hands is often the most efficient way to increase the standard of living of an entire family. Many studies of microcredit recipients have shown that women invest their savings in their children's education, which in turn enables the children to escape the cycle of poverty and bring extra income into the family. Providing microcredit loans to women, therefore, tends to create a multiplier effect that increases the impact of an mfi's activities, benefiting multiple generations. Studies have shown that mfis and microfinance opportunities have dramatically relieved the plight of the poor and distressed. Mfis serve more than 80 million poor people in developing countries with over $7 billion in outstanding microcredit loans. For example, in july 2004, grameen bank, the best-known and original mfi in the world, had 3.7 million borrowers, 96 percent of whom were women. With help from charitable organizations, that organization grew from a small test project in the late 1970s to be the biggest provider of microcredit in bangladesh, with branches in 68% of that country's villages. Its success has been well documented by groups such as the world bank. The fund hopes to assist in the creation of similar success stories in other developing countries. Micro-enterprises. The fund will also support mfis that work with micro and small enterprises via microfinance investments. Micro and small enterprises are businesses with typically fewer than 100 employees, including unpaid family members. Often micro-enterprises involve only one person, the owner-operator. Other defining characteristics are a low level of assets and low income of the owner. Micro-enterprises exist on the fringe of most formal economies and often arise when formal unemployment rises or when economic hardship strikes. Typical micro-enterprise activities are food processing, handicraft production, repair services, dressmaking, food vending and trading. These types of activities often provide the only opportunities for the poorest members of a community to increase their standard of living. Supporting such endeavors contributes greatly to the advancement of society and the relief of extreme poverty by enabling the world's poorest people to engage with dignity in small-scale grassroots businesses endeavors that would otherwise fail to attract the small amounts of seed capital necessary to their success. Micro-enterprises expand the opportunities for the poor to become self-sufficient and protect themselves in times of crisis. Micro-enterprises generally serve only members of the immediate community, becoming stabilizing forces in otherwise unstable communities. They thus contribute to the economic and social well-being of the entire community, not just the direct participants.","year":2011,"name":"THE OMIDYAR-TUFTS MICROFINANCE FUND","phone":"6176273816","type":"990","foreign_countries":["Afghanistan","Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Bangladesh","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bhutan","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","India","Iran","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Maldives","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Nepal","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Pakistan","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sri Lanka","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"principal_officer":"ANTHONY P MONACO","year_formation":2005,"state_legal_domicile":"MA","total_volunteers":0,"tax_period_begin":"2011-07-01T00:00:00","tax_period_end":"2012-06-30T00:00:00","address":"169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":true,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":true,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":false,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":1376359,"Contributions":{"value":0},"Program revenue":{"value":0,"Unrelated business revenue":0},"Investment income":{"value":1376359,"Investment income total":1437137,"Net investment gain":-60778},"Other revenues":{"value":0}},"Expenses":{"value":682653,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":516169,"Current officers":333469,"Other salaries and wages":125866,"Payroll taxes":56834},"Other expenses":{"value":166484,"Legal":16142,"Accounting":36470,"Investment management fees":9662,"Office expenses":36277,"Travel":63888,"Itemized Expenses":4045}},"Assets":{"value":114968330,"Savings and temp cash investments":9711794,"Accounts receivable":1045679,"Investments other":104210857},"Liabilities":{"value":226297,"Accounts payable, accrued":226297,"Grants payable":0},"Fund balance":{"value":114742033},"Form990Details":{"program_service_accomplishments":[{"description":"MICROFINANCE INVESTMENTS - THE FUND'S GOVERNING DOCUMENT DEFINES \"MICROFINANCE\" AS THE DELIVERY OF FINANCIAL SERVICES, SUCH AS CREDIT, SAVINGS, INSURANCE, REMITTANCES AND PAYMENT SERVICES, TO POOR AND LOW-INCOME HOUSEHOLDS AND TO MICRO-ENTERPRISES. ALL CAPITAL ASSETS OF THE FUND WILL BE USED EXCLUSIVELY FOR ONE OR BOTH OF THE FOLLOWING PURPOSES: (I) DIRECT INVESTMENT IN MICROFINANCE-RELATED VENTURES, AND (II) THE CREDIT ENHANCEMENT OF MICROFINANCE-RELATED VENTURES, SUCH AS BY PROVIDING LOAN GUARANTEES. THESE MICROFINANCE INVESTMENTS ARE INTENDED TO BENEFIT POOR AND LOW-INCOME INDIVIDUALS, BOTH AS MEMBERS OF HOUSEHOLDS AND AS OWNERS OF MICRO-ENTERPRISES.","expense":594566,"grants":0,"revenue":1376359}],"functional_expense_allocations":{"current_officers_directors":{"program_services":300122,"management_and_general":33347,"total":333469},"other_salaries_and_wages":{"program_services":113279,"management_and_general":12587,"total":125866},"payroll_taxes":{"program_services":51151,"management_and_general":5683,"total":56834},"legal_fees":{"program_services":16142,"total":16142},"accounting_fees":{"management_and_general":36470,"total":36470},"investment_management_fees":{"program_services":9662,"total":9662},"office_expenses":{"program_services":36277,"total":36277},"travel":{"program_services":63888,"total":63888}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_iii":true,"schedule_o_part_v":true,"schedule_o_part_vi":true,"schedule_o_part_vii":true,"schedule_o_part_xi":true},"principal_officer_detail":{"person_name":"ANTHONY P MONACO","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"audited_financial_statement_consolidated":true,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":4636895,"grants_payable_end_of_year":0},"books_are_in_care_of":{"phone":"6176273816","business_name_line1":"JOHN WALKER ACCOUNTING DIRECTOR","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE - START DATE 3/1/12","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":321400,"other_compensation":55012,"individual_trustee_or_director":true},{"title":"TRUSTEE - END DATE 3/1/12","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":2147127,"other_compensation":76625,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"reportable_comp_from_org":297916,"reportable_comp_from_related_orgs":0,"other_compensation":112703,"key_employee":true},{"title":"CIO","average_hours_per_week":4.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":580637,"other_compensation":194274,"highest_compensated_employee":true},{"title":"SR. INVESTMENT ASSOCIATE","average_hours_per_week":35.0,"reportable_comp_from_org":111702,"reportable_comp_from_related_orgs":0,"other_compensation":25580,"highest_compensated_employee":true}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"sum_of_amounts":599000,"rows":[{"ein":42103634,"organization_type":"02","support_amount":599000,"governing_document_listed":true,"supported_org_notified":true,"us_organized":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled_prior_schema":false,"contribution_controller_prior_schema":false,"contribution_related_party_prior_schema":false},"supplemental_information":{"general":{"explanation":"SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: 11(H)(VII) - AMOUNT OF SUPPORT: TRUSTEES OF TUFTS COLLEGE, A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS MICROFINANCE FUND(THE FUND), PAID OPERATING COSTS FOR THE FUND TOTALLING APPROXIMATELY $689,000 FOR THE YEAR-ENDED JUNE 30, 2012. THE FUND REIMBURSED THE UNIVERSITY FOR $589,000 OF THESE COSTS. THE BALANCE OF THE COSTS NOT YET REIMBURSED AT JUNE 30, 2012 IS APPROXIMATELY $90,000. THE OPERATING COSTS INCURRED BY THE FUND INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO ASSIST WITH MANAGING THE FUNDS INVESTMENTS."}}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"land_buildings_equipment":{"total_book_value":0},"securities":{"other_securities":[{"description":"PRIVATE EQUITY INVESTMENTS","book_value":47787073,"method_of_valuation":"F"},{"description":"VENTURE CAPITAL","book_value":18438906,"method_of_valuation":"F"},{"description":"VELIFIN INVESTMENT","book_value":2758991,"method_of_valuation":"F"},{"description":"FIXED INCOME","book_value":35225887,"method_of_valuation":"F"}],"total_book_value":104210857},"net_assets_reconciliation":{"total_revenue":1376359,"total_expenses":682653,"excess_or_deficit_for_year":693706,"net_unrealized_gains_losses_on_investments":-3861682,"total_adjustments":-3861682,"excess_or_deficit_per_financial_statements":-3167976},"revenue_reconciliation":{"total_revenue_audited_financial_statements":1376359,"revenue_not_reported":0,"revenue_subtotal":1376359,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":1376359},"expense_reconciliation":{"total_expenses_audited_financial_statements":4544334,"losses_reported":3861682,"expenses_not_reported":3861682,"expenses_subtotal":682652,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":682652}},"ScheduleF":{"regions":[{"region":"EUROPE","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":45000,"employees":0,"offices":0},{"region":"NORTH AMERICA","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":5000,"employees":0,"offices":0},{"region":"SOUTH ASIA","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":2000,"employees":0,"offices":0},{"region":"CENTRAL AMERICA AND THE CARIBBEAN","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":18357000,"employees":0,"offices":0},{"region":"EUROPE","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":72564000,"employees":0,"offices":0},{"region":"NORTH AMERICA","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":4500000,"employees":0,"offices":0},{"region":"SUB-SAHARAN AFRICA","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":3564000,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":99037000,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":99037000,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":0},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false}},"ScheduleJ":{"benefits_and_procedures":{"first_class_or_charter_travel":true,"substantiation_required":true,"written_policy_travel_and_entertainment":true},"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":true,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":true,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"person_name":"ANTHONY P MONACO","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":250170,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":34348,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":20664,"other_compensation_filing_org":0,"other_compensation_related_orgs":71230,"total_compensation_filing_org":0,"total_compensation_related_orgs":376412,"name":"ANTHONY P MONACO"},{"person_name":"LAWRENCE S BACOW","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":373687,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":41035,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":35590,"other_compensation_filing_org":0,"other_compensation_related_orgs":1773440,"total_compensation_filing_org":0,"total_compensation_related_orgs":2223752,"name":"LAWRENCE S BACOW"},{"person_name":"TRYFAN D EVANS","base_compensation_filing_org":203057,"bonus_filing_org":94671,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":103947,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":8756,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":188,"other_compensation_related_orgs":0,"total_compensation_filing_org":410619,"total_compensation_related_orgs":0,"name":"TRYFAN D EVANS"},{"person_name":"SALLY DUNGAN","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":239372,"compensation_based_on_related_orgs":339388,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":170174,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":24100,"other_compensation_filing_org":0,"other_compensation_related_orgs":1877,"total_compensation_filing_org":0,"total_compensation_related_orgs":774911,"name":"SALLY DUNGAN"}],"supplemental_information":[{"form_and_line_reference":"PART I, LINE 1A","explanation":"PART I, LINE 1A: FIRST-CLASS TRAVEL: THE DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND TRAVELS ABROAD PERIODICALLY FOR MISSION RELATED PURPOSES. THE AIRLINE ACCOMODATIONS MAY INCLUDE FIRST-CLASS SEATING WHEN THE TRAVEL IS FOR A PERIOD OF SIX HOURS OR MORE. THIS BENEFIT IS NOT TAXABLE AS THIS IS A BUSINESS EXPENSE."},{"form_and_line_reference":"PART I, LINES 4A-B","explanation":"PART I, LINES 4A-B: LINE 4A - AFTER SERVING AS THE TWELFTH PRESIDENT OF THE UNIVERSITY FOR 10 YEARS, LAWRENCE S. BACOW STEPPED DOWN AS PRESIDENT ON JULY 31, 2011. DURING HIS TENURE AS PRESIDENT, THE UNIVERSITY SOLIDIFIED ITS POSITION AS A LEADER IN TEACHING, RESEARCH AND PUBLIC SERVICE AND CIVIC ENGAGEMENT, BOTH NATIONALLY AND INTERNATIONALLY. IN ADDITION, PRESIDENT BACOW WORKED TO STRENGTHEN THE UNIVERSITY THROUGH EFFECTIVE OUTREACH TO ALUMNI, PARENTS AND FRIENDS; THE UNIVERSITY BENEFITED FROM UNPRECEDENTED DONOR GENEROSITY AND COMPLETED ITS HISTORIC BEYOND BOUNDARIES CAMPAIGN, WHICH RAISED $1.2 BILLION TO SUPPORT TUFTS' HIGHEST ACADEMIC PRIORITIES. UNDER HIS LEADERSHIP, THE UNIVERSITY ALSO STRENGTHENED RELATIONSHIPS WITH ITS HOST COMMUNITIES. UPON RETIRING, PRESIDENT EMERITUS BACOW RECEIVED AN END-OF-SERVICE COMPENSATION PACKAGE THAT INCLUDED A ONE-TIME LUMP-SUM PAYMENT. LINE 4B - TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, AND KIMBERLY WATTRICK, SR. INVESTMENT ASSOCIATE FOR THE FUND ARE BOTH EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE. BOTH PARTICIPATE IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 80% AND 30%, RESPECTIVELY, OF THEIR BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. LINE 4B - SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 100% OF HER BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C."},{"form_and_line_reference":"PART I, LINE 6","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, AND KIMBERLY WATTRICK, SR. INVESTMENT ASSOCIATE FOR THE FUND ARE BOTH EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE. BOTH PARTICIPATE IN AN INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $62,020 AND $9,884, RESPECTIVELY, WAS MADE IN FYE 06/30/11 AND LATER PAID IN AUGUST, 2011. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B). SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $104,072 WAS MADE IN FYE 06/30/11 AND LATER PAID IN AUGUST, 2011. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B)."},{"form_and_line_reference":"PART I, LINE 7","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, AND KIMBERLY WATTRICK, SR. INVESTMENT ASSOCIATE FOR THE FUND ARE BOTH EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE. BOTH PARTICIPATE IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS OF $16,321 AND $2,601, RESPECTIVELY, FOR THEIR INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B). SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED A NON-FIXED PAYMENT OF $34,691 FOR HER INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B)."},{"form_and_line_reference":"PART III","explanation":"SCH J, PART II THE OMIDYAR-TUFTS MICROFINANCE FUND DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE FOR USE OF ITS EMPLOYEES."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities":"EDUCATION","exempt_code_section":"501(C)(3)","public_charity_status":"2","controlled_organization":false,"legal_domicile_state":"MA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","primary_activity":"MICROFINANCE COMPANY","ownership_percentage":0.5146,"share_of_total_income":-516765,"share_of_end_of_year_assets":10925582,"legal_domicile_foreign_country":"MX","foreign_address_line1":"PASEO DE LA REFORMA 381 PISO 5","foreign_city":"CUAUHTEMOC","foreign_postal_code":"06500","foreign_country":"MX","type_of_entity":"C","name":"VEHICULOS LIQUIDOS FINANCIEROS","foreign_address":"PASEO DE LA REFORMA 381 PISO 5, CUAUHTEMOC, 06500, MX"}],"transaction_flags":{"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":true},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":90000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"L","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":599000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"O","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","amount_involved":1500000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"Q","name":"VEHICULOS LIQUIDOS FINANCIEROS"}]},"source_xml":"201341349349303964_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and relief of the poor through microfinance investments.","primary_activities":"Microfinance investments - the fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, savings, insurance, remittances and payment services, to poor and low-income households and to micro-enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) direct investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro-enterprises.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the trustees of tufts college, by engaging in two activities: promoting the relief of the poor and distressed through microfinance investments, and promoting education through grants. During the year ended june 30, 2011, the omidyar-tufts microfinance fund disbursed over $3.4 million in microfinance investments. At june 30, 2011 the fund had made ten investments amounting to $96 million since inception. To date, the fund has provided investment capital for microfinance in latin america, africa, eastern and central europe and central asia. The fund currently has investments in 39 countries. Microfinance investments. The fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, equity savings, insurance, remittances and payment services, that economically empower and benefit the poor, low-income households, and micro and small enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro and small enterprises. Poor and low-income households - the vast majority of the world's poorest people lack access to even the most basic financial services. The poor are shut out of the system for two primary reasons. First, traditional banking systems require borrowers to have property - to use financial terms, \"collateral\" - in order to receive a loan, and the extremely poor have no such collateral. Second, traditional banks believe it is difficult to make a commercially reasonable rate of return on small loans of the type sought by people who are extremely poor (usually between $50 and $150) because the interest benefits do not exceed the transaction costs. Without access to such services, the world's poorest people are unable to break out of the cycle of poverty that keeps them trapped at subsistence standards of living. They lack the ability to borrow and save, and without insurance, their livelihoods are always in danger of being wiped out by natural or other disasters. Microfinance programs address these problems. They have helped millions of people in developing countries raise their standards of living and protect themselves from crippling economic setbacks. Microfinance products such as savings accounts, microcredit loans of small amounts, and affordable health insurance empower the poor to lift themselves out of poverty by enabling them to secure better nutrition, education, healthcare and housing for their families. Microfinance institutions (\"mfis\") differ from traditional banks in several significant ways. First, for example, rather than solely focusing on individual borrowers and individual collateral, mfis sometimes lend to groups of borrowers, relying on social capital to ensure loan repayment. Another significant difference between mfis and traditional banks is that the loan cycles offered by mfis are usually shorter than traditional commercial loans - typically six months to a year, with payments plus interest due weekly or monthly. The transaction-intense nature of weekly payment collections, often in rural areas, is more expensive than running a bank branch that provides large loans to economically secure borrowers in metropolitan areas. As a result, mfis must charge interest rates that may seem high - often 30 percent to 70 percent annually - in order to cover their costs. However, these interest rates are significantly lower than the market rates for the only other credit that is available to very poor borrowers - namely, the 300 percent to 3,000 percent annual rates charged by local money lenders. Finally, mfis generally focus their efforts on women, who have a higher unemployment rate than men in most countries and who make up the majority of the informal sector of most economies. Because women are usually primary or sole family caretakers in many developing countries and tend to put the needs of children first, putting extra income in women's hands is often the most efficient way to increase the standard of living of an entire family. Many studies of microcredit recipients have shown that women invest their savings in their children's education, which in turn enables the children to escape the cycle of poverty and bring extra income into the family. Providing microcredit loans to women, therefore, tends to create a multiplier effect that increases the impact of an mfi's activities, benefiting multiple generations. Studies have shown that mfis and microfinance opportunities have dramatically relieved the plight of the poor and distressed. Mfis serve more than 80 million poor people in developing countries with over $7 billion in outstanding microcredit loans. For example, in july 2004, grameen bank, the best-known and original mfi in the world, had 3.7 million borrowers, 96 percent of whom were women. With help from charitable organizations, that organization grew from a small test project in the late 1970s to be the biggest provider of microcredit in bangladesh, with branches in 68% of that country's villages. Its success has been well documented by groups such as the world bank. The fund hopes to assist in the creation of similar success stories in other developing countries. Micro-enterprises. The fund will also support mfis that work with micro and small enterprises via microfinance investments. Micro and small enterprises are businesses with typically fewer than 100 employees, including unpaid family members. Often micro-enterprises involve only one person, the owner-operator. Other defining characteristics are a low level of assets and low income of the owner. Micro-enterprises exist on the fringe of most formal economies and often arise when formal unemployment rises or when economic hardship strikes. Typical micro-enterprise activities are food processing, handicraft production, repair services, dressmaking, food vending and trading. These types of activities often provide the only opportunities for the poorest members of a community to increase their standard of living. Supporting such endeavors contributes greatly to the advancement of society and the relief of extreme poverty by enabling the world's poorest people to engage with dignity in small-scale grassroots businesses endeavors that would otherwise fail to attract the small amounts of seed capital necessary to their success. Micro-enterprises expand the opportunities for the poor to become self-sufficient and protect themselves in times of crisis. Micro-enterprises generally serve only members of the immediate community, becoming stabilizing forces in otherwise unstable communities. They thus contribute to the economic and social well-being of the entire community, not just the direct participants.","year":2010,"name":"THE OMIDYAR-TUFTS MICROFINANCE FUND","phone":"6176273816","website":"WWW.TUFTS.EDU/MICROFINANCEFUND/","type":"990","foreign_countries":["Afghanistan","Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Argentina","Aruba","Australia","Austria","Bahamas","Bangladesh","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bhutan","Bolivia","Bosnia and Herzegovina","Botswana","Brazil","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Chile","China","Colombia","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","Ecuador","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Falkland Islands","Faroe Islands","Finland","France","French Guiana","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Guyana","Haiti","Honduras","Hong Kong","Hungary","Iceland","India","Indonesia","Iran","Ireland","Isle of Man","Italy","Jamaica","Japan","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Macau","Madagascar","Malawi","Malaysia","Maldives","Mali","Malta","Marshall Islands","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Micronesia","Moldova","Monaco","Mongolia","Montenegro","Montserrat","Mozambique","Namibia","Nauru","Nepal","Netherlands","New Zealand","Nicaragua","Niger","Nigeria","Niue","North Korea","North Macedonia","Norway","Pakistan","Palau","Panama","Papua New Guinea","Paraguay","Peru","Philippines","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","Samoa","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Solomon Islands","Somalia","South Africa","South Korea","South Sudan","Spain","Sri Lanka","Sudan","Suriname","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Taiwan","Tanzania","Togo","Tonga","Trinidad and Tobago","Turks and Caicos Islands","Tuvalu","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Uruguay","Vanuatu","Vatican City","Venezuela","Zambia","Zimbabwe","Åland Islands"],"principal_officer":"JAMES STERN","year_formation":2005,"state_legal_domicile":"MA","total_volunteers":0,"tax_period_begin":"2010-07-01T00:00:00","tax_period_end":"2011-06-30T00:00:00","address":"169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":true,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":true,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":false,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":1615638,"Contributions":{"value":0},"Program revenue":{"value":0,"Unrelated business revenue":0},"Investment income":{"value":1615638,"Investment income total":1627729,"Net investment gain":-12091},"Other revenues":{"value":0}},"Expenses":{"value":5285511,"Grant expense":{"value":4636895,"Grants to domestic orgs":4636895},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":437304,"Current officers":272472,"Other salaries and wages":111438,"Payroll taxes":53394},"Other expenses":{"value":211312,"Legal":33163,"Accounting":40271,"Investment management fees":8410,"Office expenses":32470,"Travel":88894,"Itemized Expenses":8104}},"Assets":{"value":122785343,"Savings and temp cash investments":19278993,"Accounts receivable":942559,"Investments other":102563791},"Liabilities":{"value":4875335,"Accounts payable, accrued":238440,"Grants payable":4636895},"Fund balance":{"value":117910008},"Form990Details":{"program_service_accomplishments":[{"description":"MICROFINANCE INVESTMENTS - THE FUND'S GOVERNING DOCUMENT DEFINES \"MICROFINANCE\" AS THE DELIVERY OF FINANCIAL SERVICES, SUCH AS CREDIT, SAVINGS, INSURANCE, REMITTANCES AND PAYMENT SERVICES, TO POOR AND LOW-INCOME HOUSEHOLDS AND TO MICRO-ENTERPRISES. ALL CAPITAL ASSETS OF THE FUND WILL BE USED EXCLUSIVELY FOR ONE OR BOTH OF THE FOLLOWING PURPOSES: (I) DIRECT INVESTMENT IN MICROFINANCE-RELATED VENTURES, AND (II) THE CREDIT ENHANCEMENT OF MICROFINANCE-RELATED VENTURES, SUCH AS BY PROVIDING LOAN GUARANTEES. THESE MICROFINANCE INVESTMENTS ARE INTENDED TO BENEFIT POOR AND LOW-INCOME INDIVIDUALS, BOTH AS MEMBERS OF HOUSEHOLDS AND AS OWNERS OF MICRO-ENTERPRISES.","expense":5201510,"grants":4636895,"revenue":1615638}],"functional_expense_allocations":{"current_officers_directors":{"program_services":245225,"management_and_general":27247,"total":272472},"other_salaries_and_wages":{"program_services":100294,"management_and_general":11144,"total":111438},"payroll_taxes":{"program_services":48055,"management_and_general":5339,"total":53394},"legal_fees":{"program_services":33163,"total":33163},"accounting_fees":{"management_and_general":40271,"total":40271},"investment_management_fees":{"program_services":8410,"total":8410},"office_expenses":{"program_services":32470,"total":32470},"travel":{"program_services":88894,"total":88894}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_iii":true,"schedule_o_part_v":true,"schedule_o_part_vi":true,"schedule_o_part_vii":true,"schedule_o_part_xi":true},"principal_officer_detail":{"person_name":"JAMES STERN","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"audited_financial_statement_consolidated":true,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":true,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_end_of_year":4636895},"books_are_in_care_of":{"phone":"6176273816","business_name_line1":"JOHN WALKER ACCOUNTING DIRECTOR","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":687833,"other_compensation":105832,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"reportable_comp_from_org":228855,"reportable_comp_from_related_orgs":0,"other_compensation":24485,"key_employee":true},{"title":"INVESTMENT ASSOCIATE","average_hours_per_week":35.0,"reportable_comp_from_org":92651,"reportable_comp_from_related_orgs":0,"other_compensation":9831,"key_employee":true},{"title":"CIO","average_hours_per_week":4.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":503412,"other_compensation":53942,"highest_compensated_employee":true}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"sum_of_amounts":4636895,"rows":[{"ein":42103634,"organization_type":"02","support_amount":4636895,"governing_document_listed":true,"supported_org_notified":true,"us_organized":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled_prior_schema":false,"contribution_controller_prior_schema":false,"contribution_related_party_prior_schema":false}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"land_buildings_equipment":{"total_book_value":0},"securities":{"other_securities":[{"description":"PRIVATE EQUITY INVESTMENTS","book_value":49710539,"method_of_valuation":"F"},{"description":"VENTURE CAPITAL","book_value":15836010,"method_of_valuation":"F"},{"description":"VELIFIN INVESTMENT","book_value":1834083,"method_of_valuation":"F"},{"description":"FIXED INCOME","book_value":35183159,"method_of_valuation":"F"}],"total_book_value":102563791},"net_assets_reconciliation":{"total_revenue":1615638,"total_expenses":5285511,"excess_or_deficit_for_year":-3669873,"net_unrealized_gains_losses_on_investments":6370190,"total_adjustments":6370190,"excess_or_deficit_per_financial_statements":2700317},"revenue_reconciliation":{"total_revenue_audited_financial_statements":7985828,"net_unrealized_gains_investments":6370190,"revenue_not_reported":6370190,"revenue_subtotal":1615638,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":1615638},"expense_reconciliation":{"total_expenses_audited_financial_statements":5285511,"expenses_not_reported":0,"expenses_subtotal":5285511,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":5285511}},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_org_grants":4636895,"reported_domestic_org_grants_program_services":4636895,"total_501c3_and_government_organizations":1,"total_other_organizations":0,"grants":[{"ein":42103634,"irc_section":"501(C)(3)","cash":4636895,"purpose":"GRANT AWARD","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"total_domestic_grants":4636895,"total_domestic_program_services":4636895,"detail_org_grants_total":4636895,"detail_domestic_grants_total":4636895,"supplemental_information":[{"identifier":"PROCEDURE FOR MONITORING GRANTS IN THE U.S.:","form_and_line_reference":"PART I, LINE 2:","explanation":"SCHEDULE I, PART I, LINE 2: THE OMIDYAR-TUFTS MICROFINANCE FUND USES MULTIPLE INTERNAL CONTROL PROCEDURES FOR MONITORING THE USE OF U.S. GRANT FUNDS. FOR THE CURRENT YEAR ONE GRANT TOTALING $4,636,895 WAS AWARDED TO THE TRUSTEES OF TUFTS COLLEGE. THE FUND AWARDS THE UNIVERSITY A GRANT EACH YEAR DEPENDING ON THE FUND'S PERFORMANCE IN ACCORDANCE WITH THE TRUST AGREEMENT AND THE REVISED GRANT DISTRIBUTION GUIDELINES APPROVED BY THE BOARD OF TRUSTEES. ALL GRANT PAYMENTS ARE RECORDED THROUGH FINANCIAL SERVICES OFFICE AND ACCOUNTING TRANSACTIONS ARE AUDITED ANNUALLY BY OUTSIDE INDEPENDENT AUDITORS."}],"grant_monitoring":{"claims_monitoring_procedures":true,"requires_financial_reports":false,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":true,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false,"monitoring_description":"SCHEDULE I, PART I, LINE 2: THE OMIDYAR-TUFTS MICROFINANCE FUND USES MULTIPLE INTERNAL CONTROL PROCEDURES FOR MONITORING THE USE OF U.S. GRANT FUNDS. FOR THE CURRENT YEAR ONE GRANT TOTALING $4,636,895 WAS AWARDED TO THE TRUSTEES OF TUFTS COLLEGE. THE FUND AWARDS THE UNIVERSITY A GRANT EACH YEAR DEPENDING ON THE FUND'S PERFORMANCE IN ACCORDANCE WITH THE TRUST AGREEMENT AND THE REVISED GRANT DISTRIBUTION GUIDELINES APPROVED BY THE BOARD OF TRUSTEES. ALL GRANT PAYMENTS ARE RECORDED THROUGH FINANCIAL SERVICES OFFICE AND ACCOUNTING TRANSACTIONS ARE AUDITED ANNUALLY BY OUTSIDE INDEPENDENT AUDITORS.","form_and_line_reference":"PART I, LINE 2:"}},"ScheduleF":{"grant_records_maintained":true,"regions":[{"region":"EAST ASIA AND THE PACIFIC","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":0,"employees":0,"offices":0},{"region":"EUROPE (INCLUDING ICELAND & GREENLAND)","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":0,"employees":0,"offices":0},{"region":"NORTH AMERICA","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":0,"employees":0,"offices":0},{"region":"SOUTH AMERICA","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":0,"employees":0,"offices":0},{"region":"SOUTH ASIA","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":0,"employees":0,"offices":0},{"region":"SUB-SAHARAN AFRICA","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":0,"employees":0,"offices":0},{"region":"CENTRAL AMERICA AND THE CARIBBEAN","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":17404000,"employees":0,"offices":0},{"region":"EUROPE (INCLUDING ICELAND & GREENLAND)","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":81035000,"employees":0,"offices":0},{"region":"NORTH AMERICA","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":1834000,"employees":0,"offices":0},{"region":"SUB-SAHARAN AFRICA","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":2291000,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":102564000,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":98439000,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":4125000},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false},"supplemental_information":[{"identifier":"METHOD USED TO ACCCOUNT FOR EXPENDITURES:","explanation":"SCHEDULE F, PART I, LINE 3: THE OMIDYAR-TUFTS MICROFINANCE FUND DOES NOT CURRENTLY TRACK FOREIGN EXPENDITURES FOR EACH PROGRAM SEPARATELY. THEREFORE, PURSUANT TO IRS GUIDANCE, DISCLOSURE IN THIS COLUMN IS NOT REQUIRED IN THE CURRENT YEAR."}]},"ScheduleJ":{"benefits_and_procedures":{"first_class_or_charter_travel":true,"substantiation_required":false,"written_policy_travel_and_entertainment":false},"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":true,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":false,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":false,"equity_based_compensation_arrangement":false},"compensation":[{"person_name":"LAWRENCE BACOW","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":634781,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":47910,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":57922,"other_compensation_filing_org":0,"other_compensation_related_orgs":53052,"total_compensation_filing_org":0,"total_compensation_related_orgs":793665,"name":"LAWRENCE BACOW"},{"person_name":"TRYFAN D EVANS","base_compensation_filing_org":183369,"bonus_filing_org":28802,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":17412,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":7073,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":16684,"other_compensation_related_orgs":0,"total_compensation_filing_org":253340,"total_compensation_related_orgs":0,"name":"TRYFAN D EVANS"},{"person_name":"SALLY DUNGAN","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":170053,"compensation_based_on_related_orgs":316362,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":31410,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":22532,"other_compensation_filing_org":0,"other_compensation_related_orgs":16997,"total_compensation_filing_org":0,"total_compensation_related_orgs":557354,"name":"SALLY DUNGAN"}],"supplemental_information":[{"form_and_line_reference":"PART I, LINE 1A","explanation":"THE DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND TRAVELS ABROAD PERIODICALLY FOR MISSION RELATED PURPOSES. THE AIRLINE ACCOMODATIONS MAY INCLUDE FIRST-CLASS SEATING WHEN THE TRAVEL IS FOR A PERIOD OF SIX HOURS OR MORE. THIS BENEFIT IS NOT TAXABLE AS THIS IS A BUSINESS EXPENSE."},{"form_and_line_reference":"PART I, LINE 6","explanation":"TRYFAN D. EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN ANNUAL INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR-TUFTS MICROFINANCE FUND AND WAS PAID A BONUS OF $28,802 IN 2010. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR-TUFTS MICROFINANCE FUND AND WAS PAID A BONUS OF $170,053 IN 2010. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK."},{"form_and_line_reference":"PART III","explanation":"SCH J, PART II THE OMIDYAR-TUFTS MICROFINANCE FUND DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE FOR USE OF ITS EMPLOYEES."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities":"EDUCATION","exempt_code_section":"501(C)(3)","public_charity_status":"2","controlled_organization":false,"legal_domicile_state":"MA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","primary_activity":"MICROFINANCE COMPANY","ownership_percentage":0.5449,"share_of_total_income":-612377,"share_of_end_of_year_assets":4028734,"legal_domicile_foreign_country":"MX","foreign_address_line1":"PASEO DE LA REFORMA 381 PISO 5","foreign_city":"CUAUHTEMOC","foreign_postal_code":"06500","foreign_country":"MX","type_of_entity":"C","name":"VEHICULOS LIQUIDOS FINANCIEROS","foreign_address":"PASEO DE LA REFORMA 381 PISO 5, CUAUHTEMOC, 06500, MX"}],"transaction_flags":{"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":true,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":false},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":4636895,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"B","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":600000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"O","name":"TRUSTEES OF TUFTS COLLEGE"}]},"source_xml":"201221359349304362_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and relief of the poor through microfinance investments.","primary_activities":"Microfinance investments - the fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, savings, insurance, remittances and payment services, to poor and low-income households and to micro-enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) direct investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro-enterprises.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the trustees of tufts college, by engaging in two activities: promoting the relief of the poor and distressed through microfinance investments, and promoting education through grants. During the year ended june 30, 2013, the omidyar-tufts microfinance fund disbursed over $19 million in microfinance investments. At june 30, 2013 the fund had made eleven investments amounting to $122 million since inception. To date, the fund has provided investment capital for microfinance in latin america, africa, eastern and central europe and central asia. The fund currently has investments in 40 countries. Microfinance investments the fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, equity savings, insurance, remittances and payment services, that economically empower and benefit the poor, low-income households, and micro and small enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro and small enterprises. Poor and low-income households the vast majority of the world's poorest people lack access to even the most basic financial services. The poor are shut out of the system for two primary reasons. First, traditional banking systems require borrowers to have property - to use financial terms, \"collateral\" - in order to receive a loan, and the extremely poor have no such collateral. Second, traditional banks believe it is difficult to make a commercially reasonable rate of return on small loans of the type sought by people who are extremely poor (usually between $50 and $150) because the interest benefits do not exceed the transaction costs. Without access to such services, the world's poorest people are unable to break out of the cycle of poverty that keeps them trapped at subsistence standards of living. They lack the ability to borrow and save, and without insurance, their livelihoods are always in danger of being wiped out by natural or other disasters. Microfinance programs address these problems. They have helped millions of people in developing countries raise their standards of living and protect themselves from crippling economic setbacks. Microfinance products such as savings accounts, microcredit loans of small amounts, and affordable health insurance empower the poor to lift themselves out of poverty by enabling them to secure better nutrition, education, healthcare and housing for their families. Microfinance institutions (\"mfis\") differ from traditional banks in several significant ways. First, for example, rather than solely focusing on individual borrowers and individual collateral, mfis sometimes lend to groups of borrowers, relying on social capital to ensure loan repayment. Another significant difference between mfis and traditional banks is that the loan cycles offered by mfis are usually shorter than traditional commercial loans - typically six months to a year, with payments plus interest due weekly or monthly. The transaction-intense nature of weekly payment collections, often in rural areas, is more expensive than running a bank branch that provides large loans to economically secure borrowers in metropolitan areas. As a result, mfis must charge interest rates that may seem high - often 30 percent to 70 percent annually - in order to cover their costs. However, these interest rates are significantly lower than the market rates for the only other credit that is available to very poor borrowers - namely, the 300 percent to 3,000 percent annual rates charged by local money lenders. Finally, mfis generally focus their efforts on women, who have a higher unemployment rate than men in most countries and who make up the majority of the informal sector of most economies. Because women are usually primary or sole family caretakers in many developing countries and tend to put the needs of children first, putting extra income in women's hands is often the most efficient way to increase the standard of living of an entire family. Many studies of microcredit recipients have shown that women invest their savings in their children's education, which in turn enables the children to escape the cycle of poverty and bring extra income into the family. Providing microcredit loans to women, therefore, tends to create a multiplier effect that increases the impact of an mfi's activities, benefiting multiple generations. Studies have shown that mfis and microfinance opportunities have dramatically relieved the plight of the poor and distressed. Mfis serve more than 80 million poor people in developing countries with over $7 billion in outstanding microcredit loans. For example, in july 2004, grameen bank, the best-known and original mfi in the world, had 3.7 million borrowers, 96 percent of whom were women. With help from charitable organizations, that organization grew from a small test project in the late 1970s to be the biggest provider of microcredit in bangladesh, with branches in 68% of that country's villages. Its success has been well documented by groups such as the world bank. The fund hopes to assist in the creation of similar success stories in other developing countries. Micro-enterprises the fund will also support mfis that work with micro and small enterprises via microfinance investments. Micro and small enterprises are businesses with typically fewer than 100 employees, including unpaid family members. Often micro-enterprises involve only one person, the owner-operator. Other defining characteristics are a low level of assets and low income of the owner. Micro-enterprises exist on the fringe of most formal economies and often arise when formal unemployment rises or when economic hardship strikes. Typical micro-enterprise activities are food processing, handicraft production, repair services, dressmaking, food vending and trading. These types of activities often provide the only opportunities for the poorest members of a community to increase their standard of living. Supporting such endeavors contributes greatly to the advancement of society and the relief of extreme poverty by enabling the world's poorest people to engage with dignity in small-scale grassroots businesses endeavors that would otherwise fail to attract the small amounts of seed capital necessary to their success. Micro-enterprises expand the opportunities for the poor to become self-sufficient and protect themselves in times of crisis. Micro-enterprises generally serve only members of the immediate community, becoming stabilizing forces in otherwise unstable communities. They thus contribute to the economic and social well-being of the entire community, not just the direct participants.","year":2012,"name":"THE OMIDYAR-TUFTS MICROFINANCE FUND","phone":"6176273816","type":"990","foreign_countries":["Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","total_volunteers":0,"tax_period_begin":"2012-07-01T00:00:00","tax_period_end":"2013-06-30T00:00:00","address":"169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":true,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":true,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":1558955,"Contributions":{"value":0},"Program revenue":{"value":0,"Total revenue":{"value":0,"VARIOUS":0},"Total other revenue":0,"Unrelated business revenue":0},"Investment income":{"value":1558955,"Investment income total":1263071,"Net investment gain":295884,"Income from invest bond proceeds":0},"Other revenues":{"value":0,"Other total":0,"Royalties revenue":0,"Net rental income":0,"Net income from fundraising events":0,"Net income from gaming":0,"Net income":0}},"Expenses":{"value":2356458,"Grant expense":{"value":1522929,"Grants to domestic orgs":1522929,"Grants to domestic individuals":0,"Foreign grants":0},"Total professional fundraising expense":{"value":0,"Fundraising professional":0},"Benefits paid to members":{"value":0,"Benefits paid to members Total":0},"Salaries":{"value":618982,"Current officers":369319,"Disqualified persons":0,"Other salaries and wages":180082,"Pension plan contributions":0,"Other employee benefits":0,"Payroll taxes":69581},"Other expenses":{"value":214547,"Management services":0,"Legal":76958,"Accounting":39335,"Lobbying services":0,"Investment management fees":63804,"Other services":0,"Advertising":0,"Office expenses":7916,"Information technology":0,"Royalties":0,"Occupancy":0,"Travel":24989,"Conferences and meetings":0,"Interest":0,"Payments to affiliates":0,"Depreciation and depletion":0,"Insurance":0,"Travel entertainment public officials":0,"Itemized Expenses":1545,"All other expenses":0}},"Assets":{"value":118066888,"Savings and temp cash investments":12013588,"Accounts receivable":252,"Receivables from officers":0,"Receivables from disqual persons":0,"Land, building, equipment":0,"Investments other":106053048,"Investments program related":0,"Other assets":0},"Liabilities":{"value":1801923,"Accounts payable, accrued":278994,"Grants payable":1522929,"Loans from officers, directors":0,"Other liabilities":0},"Fund balance":{"value":116264965},"Form990Details":{"program_service_accomplishments":[{"description":"MICROFINANCE INVESTMENTS - THE FUND'S GOVERNING DOCUMENT DEFINES \"MICROFINANCE\" AS THE DELIVERY OF FINANCIAL SERVICES, SUCH AS CREDIT, SAVINGS, INSURANCE, REMITTANCES AND PAYMENT SERVICES, TO POOR AND LOW-INCOME HOUSEHOLDS AND TO MICRO-ENTERPRISES. ALL CAPITAL ASSETS OF THE FUND WILL BE USED EXCLUSIVELY FOR ONE OR BOTH OF THE FOLLOWING PURPOSES: (I) DIRECT INVESTMENT IN MICROFINANCE-RELATED VENTURES, AND (II) THE CREDIT ENHANCEMENT OF MICROFINANCE-RELATED VENTURES, SUCH AS BY PROVIDING LOAN GUARANTEES. THESE MICROFINANCE INVESTMENTS ARE INTENDED TO BENEFIT POOR AND LOW-INCOME INDIVIDUALS, BOTH AS MEMBERS OF HOUSEHOLDS AND AS OWNERS OF MICRO-ENTERPRISES.","expense":2255225,"grants":1522929,"revenue":1558955}],"functional_expense_allocations":{"current_officers_directors":{"program_services":332387,"management_and_general":36932,"total":369319},"disqualified_persons":{"total":0},"other_salaries_and_wages":{"program_services":162074,"management_and_general":18008,"total":180082},"pension_plan_contributions":{"total":0},"other_employee_benefits":{"total":0},"payroll_taxes":{"program_services":62623,"management_and_general":6958,"total":69581},"management_fees":{"total":0},"legal_fees":{"program_services":76958,"total":76958},"accounting_fees":{"management_and_general":39335,"total":39335},"lobbying_fees":{"total":0},"professional_fundraising_fees":{"total":0},"investment_management_fees":{"program_services":63804,"total":63804},"other_service_fees":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0},"advertising":{"total":0},"office_expenses":{"program_services":7916,"total":7916},"information_technology":{"total":0},"royalties":{"total":0},"occupancy":{"total":0},"travel":{"program_services":24989,"total":24989},"conferences_meetings":{"total":0},"interest":{"total":0},"payments_to_affiliates":{"total":0},"depreciation_depletion":{"total":0},"insurance":{"total":0},"all_other_expenses":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_iii":true,"schedule_o_part_v":true,"schedule_o_part_vi":true,"schedule_o_part_vii":true},"principal_officer_detail":{"business_name_line1":"ANTHONY P MONACO","address_line1":"169 Holland Street ATTN Tax Dept","city":"Somerville","state":"MA","zip":"02144"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":true,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_end_of_year":1522929},"books_are_in_care_of":{"phone":"6176273816","business_name_line1":"John Walker Accounting Director","address_line1":"169 Holland Street","city":"Somerville","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":50.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":705728,"other_compensation":110481,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"CIO","average_hours_per_week":1.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":587435,"other_compensation":200426,"key_employee":true},{"title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":306512,"other_compensation":108826,"key_employee":true},{"title":"INVESTMENT OFFICER","average_hours_per_week":40.0,"average_hours_per_week_related_org":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":148971,"other_compensation":28962,"highest_compensated_employee":true}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"sum_of_amounts":629606,"rows":[{"ein":42103634,"organization_type":"2","support_amount":629606,"governing_document_listed":true,"supported_org_notified":true,"us_organized":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled_prior_schema":false,"contribution_controller_prior_schema":false,"contribution_related_party_prior_schema":false},"supplemental_information":{"general":{"explanation":"SCHEDULE A, PART IV, 11(H)(VII) - AMOUNT OF SUPPORT, TRUSTEES OF TUFTS COLLEGE, A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS MICROFINANCE FUND (THE FUND), PAID OPERATING COSTS FOR THE FUND TOTALLING APPROXIMATELY $749,000 FOR THE YEAR-ENDED JUNE 30, 2013. THE FUND REIMBURSED THE UNIVERSITY FOR $629,606 OF THESE COSTS. THE BALANCE OF THE COSTS NOT YET REIMBURSED AT JUNE 30, 2013 IS $119,394. THE OPERATING COSTS INCURRED BY THE FUND INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO ASSIST WITH MANAGING THE FUNDS INVESTMENTS. FOR THE YEAR ENDED JUNE 30, 2013 THE FUND ACCRUED A GRANT PAYABLE TO THE UNIVERSITY FOR $1,522,929. THE CASH ASSOCIATED WITH THE GRANT WAS NOT TRANSFERRED TO THE UNIVERSITY UNTIL NOVEMBER 29, 2013."}}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"land_buildings_equipment":{"land":{"book_value":0},"buildings":{"book_value":0},"leasehold_improvements":{"book_value":0},"equipment":{"book_value":0},"other_land_buildings":{"book_value":0},"total_book_value":0},"securities":{"financial_derivatives":{"book_value":0},"closely_held_equity_interests":{"book_value":0},"other_securities":[{"description":"PRIVATE EQUITY INVESTMENTS","book_value":50104854,"method_of_valuation":"F"},{"description":"FIXED INCOME","book_value":30335624,"method_of_valuation":"F"},{"description":"VENTURE CAPITAL","book_value":18778976,"method_of_valuation":"F"},{"description":"VELIFIN INVESTMENT","book_value":6833594,"method_of_valuation":"F"}],"total_book_value":106053048},"other_liabilities":{"federal_income_tax_liability":0,"total_liability":0},"revenue_reconciliation":{"total_revenue_audited_financial_statements":3879390,"net_unrealized_gains_investments":2320435,"other_revenue":0,"revenue_not_reported":2320435,"revenue_subtotal":1558955,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":1558955},"expense_reconciliation":{"total_expenses_audited_financial_statements":2356458,"other_expenses_included":0,"expenses_not_reported":0,"expenses_subtotal":2356458,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":2356458}},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_org_grants":1522929,"reported_domestic_individual_grants":0,"reported_domestic_org_grants_program_services":1522929,"total_501c3_and_government_organizations":1,"total_other_organizations":0,"grants":[{"ein":42103634,"irc_section":"501 (C)(3)","cash":1522929,"purpose":"GRANT AWARD","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"total_domestic_grants":1522929,"total_domestic_program_services":1522929,"detail_org_grants_total":1522929,"detail_domestic_grants_total":1522929,"supplemental_information":[{"identifier":"AMOUNT OF CASH GRANT","form_and_line_reference":"SCHEDULE I, PART II, LINE 1(D)","explanation":"FOR THE PERIOD ENDED JUNE 30, 2013, THE FUNDS ASSOCIATED WITH THIS GRANT WERE NOT YET PAID OUT TO THE TRUSTEES OF TUFTS COLLEGE. THE $1,522,929 GRANT WAS RECORDED AS AN ACCRUED LIABILITY FOR FINANCIAL STATEMENT PURPOSES. THEREAFTER, ON NOVEMBER 29, 2013, A SINGLE PAYMENT WAS MADE TO THE TRUSTEES OF TUFTS COLLEGE FOR THE TOTAL GRANT AMOUNT OF $1,522,929."},{"identifier":"Procedures for monitoring use of grant funds","form_and_line_reference":"Schedule I, Part I, Line 2","explanation":"THE OMIDYAR-TUFTS MICROFINANCE FUND USES MULTIPLE INTERNAL CONTROL PROCEDURES FOR MONITORING THE USE OF U.S. GRANT FUNDS. FOR THE CURRENT YEAR ONE GRANT TOTALING $1,522,929 WAS AWARDED TO THE TRUSTEES OF TUFTS COLLEGE. THE FUND AWARDS THE UNIVERSITY A GRANT EACH YEAR DEPENDING ON THE FUND'S PERFORMANCE IN ACCORDANCE WITH THE TRUST AGREEMENT AND THE REVISED GRANT DISTRIBUTION GUIDELINES APPROVED BY THE BOARD OF TRUSTEES. ALL GRANTS ARE RECORDED THROUGH THE FINANCIAL SERVICES OFFICE AND ACCOUNTING TRANSACTIONS ARE AUDITED ANNUALLY BY OUTSIDE INDEPENDENT AUDITORS."}],"grant_monitoring":{"claims_monitoring_procedures":true,"requires_financial_reports":true,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":true,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false,"monitoring_description":"FOR THE PERIOD ENDED JUNE 30, 2013, THE FUNDS ASSOCIATED WITH THIS GRANT WERE NOT YET PAID OUT TO THE TRUSTEES OF TUFTS COLLEGE. THE $1,522,929 GRANT WAS RECORDED AS AN ACCRUED LIABILITY FOR FINANCIAL STATEMENT PURPOSES. THEREAFTER, ON NOVEMBER 29, 2013, A SINGLE PAYMENT WAS MADE TO THE TRUSTEES OF TUFTS COLLEGE FOR THE TOTAL GRANT AMOUNT OF $1,522,929.\n\nTHE OMIDYAR-TUFTS MICROFINANCE FUND USES MULTIPLE INTERNAL CONTROL PROCEDURES FOR MONITORING THE USE OF U.S. GRANT FUNDS. FOR THE CURRENT YEAR ONE GRANT TOTALING $1,522,929 WAS AWARDED TO THE TRUSTEES OF TUFTS COLLEGE. THE FUND AWARDS THE UNIVERSITY A GRANT EACH YEAR DEPENDING ON THE FUND'S PERFORMANCE IN ACCORDANCE WITH THE TRUST AGREEMENT AND THE REVISED GRANT DISTRIBUTION GUIDELINES APPROVED BY THE BOARD OF TRUSTEES. ALL GRANTS ARE RECORDED THROUGH THE FINANCIAL SERVICES OFFICE AND ACCOUNTING TRANSACTIONS ARE AUDITED ANNUALLY BY OUTSIDE INDEPENDENT AUDITORS.","form_and_line_reference":"SCHEDULE I, PART II, LINE 1(D); Schedule I, Part I, Line 2"}},"ScheduleF":{"reported_foreign_grants":0,"regions":[{"region":"CENTRAL AMERICA AND THE CARIBBEAN","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":18552000,"employees":0,"offices":0},{"region":"EUROPE (INCLUDING ICELAND AND GREENLAND)","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":68135000,"employees":0,"offices":0},{"region":"NORTH AMERICA (CANADA & MEXICO ONLY)","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":7626000,"employees":0,"offices":0},{"region":"SUB-SAHARAN AFRICA","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":4112000,"employees":0,"offices":0},{"region":"EUROPE (INCLUDING ICELAND AND GREENLAND)","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":10552,"employees":0,"offices":0},{"region":"NORTH AMERICA (CANADA & MEXICO ONLY)","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":5855,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":98441407},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false}},"ScheduleJ":{"benefits_and_procedures":{"first_class_or_charter_travel":true,"substantiation_required":true,"written_policy_travel_and_entertainment":true},"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":true,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"person_name":"ANTHONY P MONACO","title":"TRUSTEE","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":641818,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":48995,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":61486,"other_compensation_filing_org":0,"other_compensation_related_orgs":63910,"total_compensation_filing_org":0,"total_compensation_related_orgs":816209,"name":"ANTHONY P MONACO"},{"person_name":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":90054,"compensation_based_on_related_orgs":215625,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":39171,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":99937,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":8889,"other_compensation_filing_org":0,"other_compensation_related_orgs":833,"total_compensation_filing_org":0,"total_compensation_related_orgs":415338,"name":"TRYFAN D EVANS"},{"person_name":"SALLY DUNGAN","title":"CIO","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":240491,"compensation_based_on_related_orgs":345347,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":69382,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":172319,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":28107,"other_compensation_filing_org":0,"other_compensation_related_orgs":1597,"total_compensation_filing_org":0,"total_compensation_related_orgs":787861,"name":"SALLY DUNGAN"},{"person_name":"KIMBERLY R WATTRICK","title":"INVESTMENT OFFICER","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":15863,"compensation_based_on_related_orgs":130945,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":6242,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":20840,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":8122,"other_compensation_filing_org":0,"other_compensation_related_orgs":2163,"total_compensation_filing_org":0,"total_compensation_related_orgs":177933,"name":"KIMBERLY R WATTRICK"}],"supplemental_information":[{"identifier":"First-class or charter travel","form_and_line_reference":"Schedule J, Part I, Line 1a","explanation":"THE DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND AND OTHER STAFF WHO WORK ON THE FUNDS' INVESTMENTS TRAVEL ABROAD PERIODICALLY FOR MISSION RELATED PURPOSES. THE AIRLINE ACCOMMODATIONS MAY INCLUDE FIRST-CLASS SEATING WHEN THE TRAVEL IS FOR A PERIOD OF EIGHT HOURS OR MORE. DURING THE CURRENT FISCAL YEAR, ONE HIGHLY-COMPENSATED EMPLOYEE TRAVELLED USING SUCH AIRLINE ACCOMODATIONS. NO EMPLOYEES WERE TAXED AS THIS TRAVEL BENEFIT IS A BUSINESS EXPENSE."},{"identifier":"Supplemental nonqualified retirement plan","form_and_line_reference":"Schedule J, Part I, Line 4b","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, AND KIMBERLY WATTRICK, INVESTMENT OFFICER FOR THE FUND ARE BOTH EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE. BOTH PARTICIPATE IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 80% AND 50%, RESPECTIVELY, OF THEIR BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 100% OF HER BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C."},{"identifier":"Compensation contingent on net earnings of the organization","form_and_line_reference":"Schedule J, Part I, Line 6a","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, AND KIMBERLY WATTRICK, INVESTMENT OFFICER FOR THE FUND ARE BOTH EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE. BOTH PARTICIPATE IN AN INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $47,698 AND $8,242, RESPECTIVELY, WAS MADE IN FYE 06/30/2012 AND LATER PAID IN AUGUST, 2012. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B). SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $87,508 WAS MADE IN FYE 06/30/12 AND LATER PAID IN AUGUST, 2012. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B)."},{"identifier":"Non-fixed payments","form_and_line_reference":"Schedule J, Part I, Line 7","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, AND KIMBERLY WATTRICK, INVESTMENT OFFICER FOR THE FUND ARE BOTH EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE. BOTH PARTICIPATE IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS OF $24,849 AND $4,601, RESPECTIVELY, FOR THEIR INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B). SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PLAN AND RECEIVED A NON-FIXED PAYMENT OF $52,817 FOR HER INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B)."},{"identifier":"SCH J, PART II","form_and_line_reference":"SCHEDULE J, PART III","explanation":"THE OMIDYAR-TUFTS MICROFINANCE FUND (OTMF) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR OTMF INCENTIVE PLANS."}]},"ScheduleR":{"tax_exempt_organizations":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities":"EDUCATION","exempt_code_section":"501(C)(3)","public_charity_status":"2","controlled_organization":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","primary_activity":"MICROFINANCE COMPANY","ownership_percentage":0.6031,"share_of_total_income":150645,"share_of_end_of_year_assets":21092335,"legal_domicile_foreign_country":"MX","direct_controlling_business_name_line1":"NA","foreign_address_line1":"PASEO DE LA REFORMA 381 PISO 5","foreign_province_or_state":"CUAUHTEMOC","foreign_postal_code":"06500","foreign_country":"MX","type_of_entity":"C CORPORATION","controlled_organization":true,"name":"VEHICULOS LIQUIDOS FINANCIEROS","foreign_address":"PASEO DE LA REFORMA 381 PISO 5, CUAUHTEMOC, 06500, MX"}],"transaction_flags":{"dividends_from_related_organization":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":true,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":true},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":1522929,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"B","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":119394,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"M","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":629606,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","amount_involved":3022133,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"R","name":"VEHICULOS LIQUIDOS FINANCIEROS"}]},"source_xml":"201411349349304086_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and relief of the poor through microfinance investments.","primary_activities":"Microfinance investments - the fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, savings, insurance, remittances and payment services, to poor and low-income households and to micro-enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) direct investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro-enterprises.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the trustees of tufts college, by engaging in two activities: promoting the relief of the poor and distressed through microfinance investments, and promoting education through grants. During the year ended june 30, 2014, the omidyar-tufts microfinance fund disbursed over $1.3 million in microfinance investments. At june 30, 2014 the fund had made eleven investments amounting to $124 million since inception. To date, the fund has provided investment capital for microfinance in latin america, africa, eastern and central europe and central asia. The fund currently has investments in 40 countries. Microfinance investments the fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, equity savings, insurance, remittances and payment services, that economically empower and benefit the poor, low-income households, and micro and small enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro and small enterprises. Poor and low-income households the vast majority of the world's poorest people lack access to even the most basic financial services. The poor are shut out of the system for two primary reasons. First, traditional banking systems require borrowers to have property - to use financial terms, \"collateral\" - in order to receive a loan, and the extremely poor have no such collateral. Second, traditional banks believe it is difficult to make a commercially reasonable rate of return on small loans of the type sought by people who are extremely poor (usually between $50 and $150) because the interest benefits do not exceed the transaction costs. Without access to such services, the world's poorest people are unable to break out of the cycle of poverty that keeps them trapped at subsistence standards of living. They lack the ability to borrow and save, and without insurance, their livelihoods are always in danger of being wiped out by natural or other disasters. Microfinance programs address these problems. They have helped millions of people in developing countries raise their standards of living and protect themselves from crippling economic setbacks. Microfinance products such as savings accounts, microcredit loans of small amounts, and affordable health insurance empower the poor to lift themselves out of poverty by enabling them to secure better nutrition, education, healthcare and housing for their families. Microfinance institutions (\"mfis\") differ from traditional banks in several significant ways. First, for example, rather than solely focusing on individual borrowers and individual collateral, mfis sometimes lend to groups of borrowers, relying on social capital to ensure loan repayment. Another significant difference between mfis and traditional banks is that the loan cycles offered by mfis are usually shorter than traditional commercial loans - typically six months to a year, with payments plus interest due weekly or monthly. The transaction-intense nature of weekly payment collections, often in rural areas, is more expensive than running a bank branch that provides large loans to economically secure borrowers in metropolitan areas. As a result, mfis must charge interest rates that may seem high - often 30 percent to 70 percent annually - in order to cover their costs. However, these interest rates are significantly lower than the market rates for the only other credit that is available to very poor borrowers - namely, the 300 percent to 3,000 percent annual rates charged by local money lenders. Finally, mfis generally focus their efforts on women, who have a higher unemployment rate than men in most countries and who make up the majority of the informal sector of most economies. Because women are usually primary or sole family caretakers in many developing countries and tend to put the needs of children first, putting extra income in women's hands is often the most efficient way to increase the standard of living of an entire family. Many studies of microcredit recipients have shown that women invest their savings in their children's education, which in turn enables the children to escape the cycle of poverty and bring extra income into the family. Providing microcredit loans to women, therefore, tends to create a multiplier effect that increases the impact of an mfi's activities, benefiting multiple generations. Studies have shown that mfis and microfinance opportunities have dramatically relieved the plight of the poor and distressed. Mfis serve more than 80 million poor people in developing countries with over $7 billion in outstanding microcredit loans. For example, in july 2004, grameen bank, the best-known and original mfi in the world, had 3.7 million borrowers, 96 percent of whom were women. With help from charitable organizations, that organization grew from a small test project in the late 1970s to be the biggest provider of microcredit in bangladesh, with branches in 68% of that country's villages. Its success has been well documented by groups such as the world bank. The fund hopes to assist in the creation of similar success stories in other developing countries. Micro-enterprises the fund will also support mfis that work with micro and small enterprises via microfinance investments. Micro and small enterprises are businesses with typically fewer than 100 employees, including unpaid family members. Often micro-enterprises involve only one person, the owner-operator. Other defining characteristics are a low level of assets and low income of the owner. Micro-enterprises exist on the fringe of most formal economies and often arise when formal unemployment rises or when economic hardship strikes. Typical micro-enterprise activities are food processing, handicraft production, repair services, dressmaking, food vending and trading. These types of activities often provide the only opportunities for the poorest members of a community to increase their standard of living. Supporting such endeavors contributes greatly to the advancement of society and the relief of extreme poverty by enabling the world's poorest people to engage with dignity in small-scale grassroots businesses endeavors that would otherwise fail to attract the small amounts of seed capital necessary to their success. Micro-enterprises expand the opportunities for the poor to become self-sufficient and protect themselves in times of crisis. Micro-enterprises generally serve only members of the immediate community, becoming stabilizing forces in otherwise unstable communities. They thus contribute to the economic and social well-being of the entire community, not just the direct participants.","year":2013,"name":"THE OMIDYAR-TUFTS MICROFINANCE FUND","phone":"6176272144","type":"990","foreign_countries":["Afghanistan","Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Australia","Austria","Bahamas","Bangladesh","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bhutan","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","China","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hong Kong","Hungary","Iceland","India","Indonesia","Iran","Ireland","Isle of Man","Italy","Jamaica","Japan","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Macau","Madagascar","Malawi","Malaysia","Maldives","Mali","Malta","Marshall Islands","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Micronesia","Moldova","Monaco","Mongolia","Montenegro","Montserrat","Mozambique","Namibia","Nauru","Nepal","Netherlands","New Zealand","Nicaragua","Niger","Nigeria","Niue","North Korea","North Macedonia","Norway","Pakistan","Palau","Panama","Papua New Guinea","Philippines","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","Samoa","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Solomon Islands","Somalia","South Africa","South Korea","South Sudan","Spain","Sri Lanka","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Taiwan","Tanzania","Togo","Tonga","Trinidad and Tobago","Turks and Caicos Islands","Tuvalu","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vanuatu","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","total_volunteers":0,"tax_period_begin":"2013-07-01T00:00:00","tax_period_end":"2014-06-30T00:00:00","address":"169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":true,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":true,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":1394457,"Contributions":{"value":0},"Program revenue":{"value":0,"Total revenue":{"value":0,"VARIOUS":0},"Total other revenue":0},"Investment income":{"value":1394457,"Investment income total":1394457,"Net investment gain":0,"Income from invest bond proceeds":0},"Other revenues":{"value":0,"Other total":0,"Royalties revenue":0,"Net rental income":0,"Net income from fundraising events":0,"Net income from gaming":0,"Net income":0}},"Expenses":{"value":753979,"Grant expense":{"value":0,"Grants to domestic orgs":0,"Grants to domestic individuals":0,"Foreign grants":0},"Total professional fundraising expense":{"value":0,"Fundraising professional":0},"Benefits paid to members":{"value":0,"Benefits paid to members Total":0},"Salaries":{"value":577584,"Current officers":326184,"Disqualified persons":0,"Other salaries and wages":185193,"Pension plan contributions":0,"Other employee benefits":0,"Payroll taxes":66207},"Other expenses":{"value":176395,"Management services":0,"Legal":42458,"Accounting":34945,"Lobbying services":0,"Investment management fees":35321,"Other services":0,"Advertising":0,"Office expenses":6600,"Information technology":0,"Royalties":0,"Occupancy":0,"Travel":55526,"Conferences and meetings":0,"Interest":0,"Payments to affiliates":0,"Depreciation and depletion":0,"Insurance":0,"Travel entertainment payments":0,"Itemized Expenses":1545,"All other expenses":0},"Functional Expenses":{"Program Service Expenses":661276,"Management And General Expenses":92703,"Fundraising Expenses":0}},"Assets":{"value":112966252,"Savings and temp cash investments":9684962,"Accounts receivable":0,"Receivables from officers":0,"Receivables from disqual persons":0,"Land, building, equipment":0,"Investments other":103281290,"Investments program related":0,"Other assets":0},"Liabilities":{"value":226454,"Accounts payable, accrued":226454,"Grants payable":0,"Loans from officers, directors":0,"Other liabilities":0},"Fund balance":{"value":112739798,"Temporarily restricted net assets":112739798},"Form990Details":{"program_service_accomplishments":[{"description":"MICROFINANCE INVESTMENTS - THE FUND'S GOVERNING DOCUMENT DEFINES \"MICROFINANCE\" AS THE DELIVERY OF FINANCIAL SERVICES, SUCH AS CREDIT, SAVINGS, INSURANCE, REMITTANCES AND PAYMENT SERVICES, TO POOR AND LOW-INCOME HOUSEHOLDS AND TO MICRO-ENTERPRISES. ALL CAPITAL ASSETS OF THE FUND WILL BE USED EXCLUSIVELY FOR ONE OR BOTH OF THE FOLLOWING PURPOSES: (I) DIRECT INVESTMENT IN MICROFINANCE-RELATED VENTURES, AND (II) THE CREDIT ENHANCEMENT OF MICROFINANCE-RELATED VENTURES, SUCH AS BY PROVIDING LOAN GUARANTEES. THESE MICROFINANCE INVESTMENTS ARE INTENDED TO BENEFIT POOR AND LOW-INCOME INDIVIDUALS, BOTH AS MEMBERS OF HOUSEHOLDS AND AS OWNERS OF MICRO-ENTERPRISES.","expense":661276,"grants":0,"revenue":1394457}],"functional_expense_allocations":{"current_officers_directors":{"program_services":293566,"management_and_general":32618,"total":326184},"disqualified_persons":{"total":0},"other_salaries_and_wages":{"program_services":166674,"management_and_general":18519,"total":185193},"pension_plan_contributions":{"total":0},"other_employee_benefits":{"total":0},"payroll_taxes":{"program_services":59586,"management_and_general":6621,"total":66207},"management_fees":{"total":0},"legal_fees":{"program_services":42458,"total":42458},"accounting_fees":{"management_and_general":34945,"total":34945},"lobbying_fees":{"total":0},"professional_fundraising_fees":{"total":0},"investment_management_fees":{"program_services":35321,"total":35321},"other_service_fees":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0},"advertising":{"total":0},"office_expenses":{"program_services":6600,"total":6600},"information_technology":{"total":0},"royalties":{"total":0},"occupancy":{"total":0},"travel":{"program_services":55526,"total":55526},"conferences_meetings":{"total":0},"interest":{"total":0},"payments_to_affiliates":{"total":0},"depreciation_depletion":{"total":0},"insurance":{"total":0},"all_other_expenses":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_iii":true,"schedule_o_part_v":true,"schedule_o_part_vi":true},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":1522929,"grants_payable_end_of_year":0},"books_in_care_of_detail":{"phone":"6176272144","business_name_line1":"Edward Mahoney Accounting Director","address_line1":"169 Holland Street","city":"Somerville","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"person_name":"ANTHONY P MONACO","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":50.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":727452,"other_compensation":118237,"individual_trustee_or_director":true,"name":"ANTHONY P MONACO"},{"person_name":"JAMES STERN","title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"JAMES STERN"},{"person_name":"MICHAEL MOHR","title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"MICHAEL MOHR"},{"person_name":"PIERRE M OMIDYAR","title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"PIERRE M OMIDYAR"},{"person_name":"SETH MERRIN","title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"SETH MERRIN"},{"person_name":"SALLY DUNGAN","title":"CIO","average_hours_per_week":1.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":656035,"other_compensation":299371,"key_employee":true,"name":"SALLY DUNGAN"},{"person_name":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":330758,"other_compensation":113870,"key_employee":true,"name":"TRYFAN D EVANS"},{"person_name":"KIMBERLY R WATTRICK","title":"INVESTMENT OFFICER","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":190737,"other_compensation":22276,"highest_compensated_employee":true,"name":"KIMBERLY R WATTRICK"}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"sum_of_amounts":0,"rows":[{"ein":42103634,"organization_type":"2","support_amount":0,"governing_document_listed":true,"us_organized":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled_prior_schema":false,"contribution_controller_prior_schema":false,"contribution_related_party_prior_schema":false}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"land_buildings_equipment":{"land":{"book_value":0},"buildings":{"book_value":0},"leasehold_improvements":{"book_value":0},"equipment":{"book_value":0},"other_land_buildings":{"book_value":0},"total_book_value":0},"securities":{"financial_derivatives":{"book_value":0},"closely_held_equity_interests":{"book_value":7626000,"method_of_valuation":"F"},"other_securities":[{"description":"VENTURE CAPITAL","book_value":19966318,"method_of_valuation":"F"},{"description":"FIXED INCOME","book_value":30710553,"method_of_valuation":"F"},{"description":"PRIVATE EQUITY INVESTMENTS","book_value":44978419,"method_of_valuation":"F"}],"total_book_value":103281290},"other_liabilities":{"federal_income_tax_liability":0,"total_liability":0},"revenue_reconciliation":{"total_revenue_audited_financial_statements":1394457,"other_revenue":0,"revenue_not_reported":0,"revenue_subtotal":1394457,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":1394457},"expense_reconciliation":{"total_expenses_audited_financial_statements":4919624,"losses_reported":4165645,"other_expenses_included":0,"expenses_not_reported":4165645,"expenses_subtotal":753979,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":753979}},"ScheduleI":{"reported_domestic_org_grants":0,"reported_domestic_individual_grants":0,"total_domestic_grants":0},"ScheduleF":{"reported_foreign_grants":0,"regions":[{"region":"CENTRAL AMERICA AND THE CARIBBEAN","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":19381000,"employees":0,"offices":0},{"region":"EUROPE (INCLUDING ICELAND AND GREENLAND)","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":68342000,"employees":0,"offices":0},{"region":"NORTH AMERICA (CANADA & MEXICO ONLY)","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":7626000,"employees":0,"offices":0},{"region":"SUB-SAHARAN AFRICA","activity_type":"PROGRAM SERVICES","services":"INVESTMENTS","total_expenditures":4470000,"employees":0,"offices":0},{"region":"EAST ASIA AND THE PACIFIC","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":450,"employees":0,"offices":0},{"region":"EUROPE (INCLUDING ICELAND AND GREENLAND)","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":36073,"employees":0,"offices":0},{"region":"NORTH AMERICA (CANADA & MEXICO ONLY)","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":6422,"employees":0,"offices":0},{"region":"SOUTH ASIA","activity_type":"PROGRAM SERVICES","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":9497,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":99871442},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false}},"ScheduleJ":{"benefits_and_procedures":{"first_class_or_charter_travel":true,"substantiation_required":true,"written_policy_travel_and_entertainment":true},"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":true,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"person_name":"ANTHONY P MONACO","title":"TRUSTEE","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":658143,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":50065,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":68172,"other_compensation_filing_org":0,"other_compensation_related_orgs":69309,"total_compensation_filing_org":0,"total_compensation_related_orgs":845689,"name":"ANTHONY P MONACO"},{"person_name":"KIMBERLY R WATTRICK","title":"INVESTMENT OFFICER","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":30843,"compensation_based_on_related_orgs":159786,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":9542,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":13799,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":8477,"other_compensation_filing_org":0,"other_compensation_related_orgs":108,"total_compensation_filing_org":0,"total_compensation_related_orgs":213013,"name":"KIMBERLY R WATTRICK"},{"person_name":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":106702,"compensation_based_on_related_orgs":223836,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":55859,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":93740,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":20130,"other_compensation_filing_org":0,"other_compensation_related_orgs":220,"total_compensation_filing_org":0,"total_compensation_related_orgs":444628,"name":"TRYFAN D EVANS"},{"person_name":"SALLY DUNGAN","title":"CIO","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":297757,"compensation_based_on_related_orgs":356632,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":104853,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":250005,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":49366,"other_compensation_filing_org":0,"other_compensation_related_orgs":1646,"total_compensation_filing_org":0,"total_compensation_related_orgs":955406,"name":"SALLY DUNGAN"}],"supplemental_information":[{"form_and_line_reference":"Schedule J, Part I, Line 1a, First-class or charter travel","explanation":"THE DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND AND OTHER STAFF WHO WORK ON THE FUNDS' INVESTMENTS TRAVEL ABROAD PERIODICALLY FOR MISSION RELATED PURPOSES. THE AIRLINE ACCOMMODATIONS MAY INCLUDE FIRST-CLASS SEATING WHEN THE TRAVEL IS FOR A PERIOD OF EIGHT HOURS OR MORE. DURING THE CURRENT FISCAL YEAR, ONE KEY EMPLOYEE TRAVELLED USING SUCH AIRLINE ACCOMODATIONS. THE VALUE OF WHICH WAS NOT INCLUDED IN HIS TAXABLE COMPENSATION AS IT WAS A BUSINESS EXPENSE."},{"form_and_line_reference":"Schedule J, Part I, Line 4b, Supplemental nonqualified retirement plan","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, AND KIMBERLY WATTRICK, INVESTMENT OFFICER FOR THE FUND ARE BOTH EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE. BOTH PARTICIPATE IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 80% AND 50%, RESPECTIVELY, OF THEIR BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 100% OF HER BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C."},{"form_and_line_reference":"Schedule J, Part I, Line 6a, Compensation contingent on net earnings of the organization","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, AND KIMBERLY WATTRICK, INVESTMENT OFFICER FOR THE FUND ARE BOTH EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE. BOTH PARTICIPATE IN AN INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $37,784 AND $1,650, RESPECTIVELY, WAS MADE IN FYE 06/30/2013 AND LATER PAID IN AUGUST, 2013. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B). SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $163,310 WAS MADE IN FYE 06/30/13 AND LATER PAID IN AUGUST, 2013. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B)."},{"form_and_line_reference":"Schedule J, Part I, Line 7, Non-fixed payments","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, AND KIMBERLY WATTRICK, INVESTMENT OFFICER FOR THE FUND ARE BOTH EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE. BOTH PARTICIPATE IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS OF $26,744 AND $1,650, RESPECTIVELY, FOR THEIR INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B). SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PLAN AND RECEIVED A NON-FIXED PAYMENT OF $54,130 FOR HER INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B)."},{"form_and_line_reference":"SCHEDULE J, PART III, SCH J, PART II","explanation":"THE OMIDYAR-TUFTS MICROFINANCE FUND (OTMF) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR OTMF INCENTIVE PLANS."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities_text":"EDUCATION","exempt_code_section_text":"501(C)(3)","public_charity_status_text":"2","controlled_organization_indicator":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","primary_activity":"MICROFINANCE COMPANY","ownership_percentage":0.6283,"share_of_total_income":346172,"share_of_end_of_year_assets":22550369,"legal_domicile_foreign_country":"MX","direct_controlling_business_name_line1":"NA","foreign_address_line1":"PASEO DE LA REFORMA 381 PISO 5","foreign_province_or_state":"CUAUHTEMOC","foreign_postal_code":"06500","foreign_country":"MX","entity_type_text":"C CORPORATION","controlled_organization_indicator":true,"name":"VEHICULOS LIQUIDOS FINANCIEROS","foreign_address":"PASEO DE LA REFORMA 381 PISO 5, CUAUHTEMOC, 06500, MX"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":false},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":124754,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"M","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":656246,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"}]},"source_xml":"201531329349302453_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and relief of the poor through microfinance investments.","primary_activities":"Microfinance investments - the fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, savings, insurance, remittances and payment services, to poor and low-income households and to micro-enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) direct investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro-enterprises.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the Trustees of Tufts College, by engaging in two activities: promoting the relief of the poor and distressed through microfinance investments, and promoting education through grants. During the year ended June 30, 2017, the Omidyar-Tufts Microfinance Fund disbursed over $10 million in microfinance investments. At June 30, 2017 the fund had made 16 investments and $157 million in commitments since inception. To date, the fund has provided investment capital for microfinance in Latin America, Africa, Eastern and Central Europe and Central Asia. The fund currently has investments in over 50 countries. Microfinance Investments The Fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, equity savings, insurance, remittances and payment services, that economically empower and benefit the poor, low-income households, and micro and small enterprises. All capital assets of the Fund will be used exclusively for one or both of the following purposes: (i) investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro and small enterprises. Poor and Low-Income Households The vast majority of the world's poorest people lack access to even the most basic financial services. The poor are shut out of the system for two primary reasons. First, traditional banking systems require borrowers to have property - to use financial terms, \"collateral\" - in order to receive a loan, and the extremely poor have no such collateral. Second, traditional banks believe it is difficult to make a commercially reasonable rate of return on small loans of the type sought by people who are extremely poor (usually between $50 and $150) because the interest benefits do not exceed the transaction costs. Without access to such services, the world's poorest people are unable to break out of the cycle of poverty that keeps them trapped at subsistence standards of living. They lack the ability to borrow and save, and without insurance, their livelihoods are always in danger of being wiped out by natural or other disasters. Microfinance programs address these problems. They have helped millions of people in developing countries raise their standards of living and protect themselves from crippling economic setbacks. Microfinance products such as savings accounts, microcredit loans of small amounts, and affordable health insurance empower the poor to lift themselves out of poverty by enabling them to secure better nutrition, education, healthcare and housing for their families. Microfinance institutions (\"MFIs\") differ from traditional banks in several significant ways. First, for example, rather than solely focusing on individual borrowers and individual collateral, MFIs sometimes lend to groups of borrowers, relying on social capital to ensure loan repayment. Another significant difference between MFIs and traditional banks is that the loan cycles offered by MFIs are usually shorter than traditional commercial loans - typically six months to a year, with payments plus interest due weekly or monthly. The transaction-intense nature of weekly payment collections, often in rural areas, is more expensive than running a bank branch that provides large loans to economically secure borrowers in metropolitan areas. As a result, MFIs must charge interest rates that may seem high - often 30 percent to 70 percent annually - in order to cover their costs. However, these interest rates are significantly lower than the market rates for the only other credit that is available to very poor borrowers - namely, the 300 percent to 3,000 percent annual rates charged by local money lenders. Finally, MFIs generally focus their efforts on women, who have a higher unemployment rate than men in most countries and who make up the majority of the informal sector of most economies. Because women are usually primary or sole family caretakers in many developing countries and tend to put the needs of children first, putting extra income in women's hands is often the most efficient way to increase the standard of living of an entire family. Many studies of microcredit recipients have shown that women invest their savings in their children's education, which in turn enables the children to escape the cycle of poverty and bring extra income into the family. Providing microcredit loans to women, therefore, tends to create a multiplier effect that increases the impact of an MFI's activities, benefiting multiple generations. Studies have shown that MFIs and microfinance opportunities have dramatically relieved the plight of the poor and distressed. MFIs serve more than 116 million poor people in developing countries with over $9 billion in outstanding microcredit loans. Micro-enterprises The Fund will also support MFIs that work with micro and small enterprises via microfinance investments. Micro and small enterprises are businesses with typically fewer than 100 employees, including unpaid family members. Often micro-enterprises involve only one person, the owner-operator. Other defining characteristics are a low level of assets and low income of the owner. Micro-enterprises exist on the fringe of most formal economies and often arise when formal unemployment rises or when economic hardship strikes. Typical micro-enterprise activities are food processing, handicraft production, repair services, dressmaking, food vending and trading. These types of activities often provide the only opportunities for the poorest members of a community to increase their standard of living. Supporting such endeavors contributes greatly to the advancement of society and the relief of extreme poverty by enabling the world's poorest people to engage with dignity in small-scale grassroots businesses endeavors that would otherwise fail to attract the small amounts of seed capital necessary to their success. Micro-enterprises expand the opportunities for the poor to become self-sufficient and protect themselves in times of crisis. Micro-enterprises generally serve only members of the immediate community, becoming stabilizing forces in otherwise unstable communities. They thus contribute to the economic and social well-being of the entire community, not just the direct participants.","year":2016,"name":"THE OMIDYAR-TUFTS MICROFINANCE FUND","phone":"6176272144","type":"990","foreign_countries":["Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","total_volunteers":0,"tax_period_begin":"2016-07-01T00:00:00","tax_period_end":"2017-06-30T00:00:00","address":"169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":true,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":true,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements consolidated and separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":1288184,"Contributions":{"value":0},"Program revenue":{"value":0,"Total other revenue":0},"Investment income":{"value":1288184,"Investment income total":1268166,"Net investment gain":20018},"Other revenues":{"value":0,"Other total":0}},"Expenses":{"value":586331,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":458820,"Current officers":408676,"Payroll taxes":50144},"Other expenses":{"value":127511,"Legal":23063,"Accounting":38300,"Investment management fees":41322,"Other services":0,"Office expenses":5359,"Travel":17937,"Itemized Expenses":1530,"All other expenses":0},"Functional Expenses":{"Program Service Expenses":502149,"Management And General Expenses":84182,"Fundraising Expenses":0}},"Assets":{"value":103415035,"Savings and temp cash investments":4834038,"Accounts receivable":22709,"Receivables from officers":0,"Receivables from disqual persons":0,"Land, building, equipment":0,"Investments other":98255612,"Other assets":302676},"Liabilities":{"value":170800,"Accounts payable, accrued":170800,"Other liabilities":0},"Fund balance":{"value":103244235,"Temporarily restricted net assets":103244235},"Form990Details":{"program_service_accomplishments":[{"description":"MICROFINANCE INVESTMENTS - THE FUND'S GOVERNING DOCUMENT DEFINES \"MICROFINANCE\" AS THE DELIVERY OF FINANCIAL SERVICES, SUCH AS CREDIT, SAVINGS, INSURANCE, REMITTANCES AND PAYMENT SERVICES, TO POOR AND LOW-INCOME HOUSEHOLDS AND TO MICRO-ENTERPRISES. ALL CAPITAL ASSETS OF THE FUND WILL BE USED EXCLUSIVELY FOR ONE OR BOTH OF THE FOLLOWING PURPOSES: (I) DIRECT INVESTMENT IN MICROFINANCE-RELATED VENTURES, AND (II) THE CREDIT ENHANCEMENT OF MICROFINANCE-RELATED VENTURES, SUCH AS BY PROVIDING LOAN GUARANTEES. THESE MICROFINANCE INVESTMENTS ARE INTENDED TO BENEFIT POOR AND LOW-INCOME INDIVIDUALS, BOTH AS MEMBERS OF HOUSEHOLDS AND AS OWNERS OF MICRO-ENTERPRISES.","expense":502149,"revenue":1288184}],"functional_expense_allocations":{"current_officers_directors":{"program_services":367808,"management_and_general":40868,"total":408676},"payroll_taxes":{"program_services":45130,"management_and_general":5014,"total":50144},"legal_fees":{"program_services":23063,"total":23063},"accounting_fees":{"management_and_general":38300,"total":38300},"investment_management_fees":{"program_services":41322,"total":41322},"other_service_fees":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0},"office_expenses":{"program_services":5359,"total":5359},"travel":{"program_services":17937,"total":17937},"all_other_expenses":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":true,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_vi":true},"principal_officer_detail":{"business_name_line1":"Anthony P Monaco"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false},"books_in_care_of_detail":{"phone":"6176272144","business_name_line1":"Edward Mahoney Accounting Director","address_line1":"169 Holland Street","city":"Somerville","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":60.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":981189,"other_compensation":145059,"individual_trustee_or_director":true,"name":"Anthony P Monaco"},{"business_name_line1":"Jeffrey M Moslow","title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"average_hours_per_week_related_org":3.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"Jeffrey M Moslow"},{"business_name_line1":"PIERRE M OMIDYAR","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"PIERRE M OMIDYAR"},{"business_name_line1":"MICHAEL MOHR","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"MICHAEL MOHR"},{"business_name_line1":"SETH MERRIN","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"SETH MERRIN"},{"business_name_line1":"Sally Dungan","title":"CHIEF INVESTMENT OFFICER","average_hours_per_week":5.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":571213,"other_compensation":150079,"key_employee":true,"name":"Sally Dungan"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":341649,"other_compensation":92080,"key_employee":true,"name":"TRYFAN D EVANS"}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"supported_organizations_count":1,"sum_of_amounts":481918,"other_support_sum":0,"rows":[{"ein":42103634,"organization_type":"2","support_amount":481918,"other_support_amount":0,"governing_document_listed":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled":false,"contribution_controller":false,"contribution_family":false,"controlled_by_disqualified_person":false,"disqualified_person_controlling_interest":false,"disqualified_person_ownership_interest":false,"excess_business_holdings_rules":false,"listed_by_name_governing_doc":true,"loan_disqualified_person":false,"organization_change_supported_org":false,"payment_substantial_contributor":false,"support_non_supported_org":false,"supported_org_not_organized_us":false,"supported_org_section_c456":false,"supporting_org_no_irs_determination":false,"type1_operate_benefit_non_supported_org":false,"type1_power_appoint_majority":true},"supplemental_information":{"part_vi":[{"form_and_line_reference":"Schedule A, Part I LINE 11(G)(V) - AMOUNT OF MONETARY SUPPORT","explanation":"TRUSTEES OF TUFTS COLLEGE (TUFTS), A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS MICROFINANCE FUND (THE FUND), PAID OPERATING COSTS FOR THE FUND TOTALLING $459,209 FOR THE YEAR-ENDED JUNE 30, 2017. THE FUND REIMBURSED TUFTS FOR $481,918 OF THESE COSTS. CONSIDERING THE TIMING OF THE YEAR-END THE FUND HAD OVERPAID TUFTS $22,709, WHICH IS CURRENTLY REFLECTED AS AN ACCOUNT RECEIVABLE FROM TUFTS. THE OPERATING COSTS INCURRED BY THE FUND INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO MANAGE THE FUNDS INVESTMENTS."}]}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"endowment_funds":{"current_year":{"beginning_year_balance":104851670,"investment_earnings_or_losses":-1021104,"other_expenditures":502149,"administrative_expenses":84182,"end_year_balance":103244235},"current_year_minus1":{"beginning_year_balance":111101249,"investment_earnings_or_losses":-5743995,"other_expenditures":430922,"administrative_expenses":74662,"end_year_balance":104851670},"current_year_minus2":{"beginning_year_balance":112739798,"investment_earnings_or_losses":-1136478,"other_expenditures":428031,"administrative_expenses":74040,"end_year_balance":111101249},"current_year_minus3":{"beginning_year_balance":116264965,"investment_earnings_or_losses":-2771188,"other_expenditures":661276,"administrative_expenses":92703,"end_year_balance":112739798},"current_year_minus4":{"beginning_year_balance":114742033,"investment_earnings_or_losses":3879390,"grants_or_scholarships":1522929,"other_expenditures":732296,"administrative_expenses":101233,"end_year_balance":116264965},"board_designated_eoy_percentage":0.0,"permanent_endowment_eoy_percentage":0.0,"term_endowment_eoy_percentage":1.0,"held_by_unrelated_organizations":false,"held_by_related_organizations":false},"securities":{"closely_held_equity_interests":{"book_value":4580818,"method_of_valuation":"F"},"other_securities":[{"description":"VENTURE CAPITAL","book_value":27776310,"method_of_valuation":"F"},{"description":"FIXED INCOME","book_value":22828277,"method_of_valuation":"F"},{"description":"PRIVATE EQUITY INVESTMENTS","book_value":4803552,"method_of_valuation":"F"},{"description":"EQUITY INVESTMENTS","book_value":38266655,"method_of_valuation":"F"}],"total_book_value":98255612},"other_liabilities":{"total_liability":0,"footnote_text":true},"revenue_reconciliation":{"total_revenue_audited_financial_statements":-1021104,"net_unrealized_gains_investments":-2309288,"other_revenue":0,"revenue_not_reported":-2309288,"revenue_subtotal":1288184,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":1288184},"expense_reconciliation":{"total_expenses_audited_financial_statements":586331,"other_expenses_included":0,"expenses_not_reported":0,"expenses_subtotal":586331,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":586331},"supplemental_information":[{"form_and_line_reference":"Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote","explanation":"US GAAP REQUIRES THE OMIDYAR-TUFTS MICROFINANCE FUND (THE FUND) TO EVALUATE TAX POSITIONS TAKEN BY THE FUND AND RECOGNIZE A TAX LIABILITY(OR ASSET) IF THE FUND HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE FUND HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2017, THERE ARE NO SIGNIFICANT UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS."}]},"ScheduleF":{"regions":[{"region":"Central America and the Caribbean","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":17671000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":64379000,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":9945000,"employees":0,"offices":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":4001000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":10037,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":5461,"employees":0,"offices":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":758,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":96012256,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":96012256,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":0},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false}},"ScheduleJ":{"benefits_and_procedures":{"first_class_or_charter_travel":true,"substantiation_required":true,"written_policy_travel_and_entertainment":true},"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":true,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":848509,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":51825,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":93234,"other_compensation_filing_org":0,"other_compensation_related_orgs":132680,"total_compensation_filing_org":0,"total_compensation_related_orgs":1126248,"name":"Anthony P Monaco"},{"business_name_line1":"Sally Dungan","title":"CHIEF INVESTMENT OFFICER","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":190456,"compensation_based_on_related_orgs":378065,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":150892,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":72807,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":77272,"other_compensation_filing_org":0,"other_compensation_related_orgs":2693,"total_compensation_filing_org":0,"total_compensation_related_orgs":721292,"name":"Sally Dungan"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":89301,"compensation_based_on_related_orgs":207413,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":30438,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":91898,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":182,"other_compensation_filing_org":0,"other_compensation_related_orgs":44935,"total_compensation_filing_org":0,"total_compensation_related_orgs":433729,"name":"TRYFAN D EVANS"}],"supplemental_information":[{"form_and_line_reference":"Schedule J, Part III SCH J, PART II","explanation":"THE OMIDYAR-TUFTS MICROFINANCE FUND (OTMF) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR OTMF INCENTIVE PLANS."},{"form_and_line_reference":"Schedule J, Part I, Line 1a First-class or charter travel","explanation":"THE DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND AND OTHER STAFF WHO WORK ON THE FUNDS' INVESTMENTS TRAVEL ABROAD PERIODICALLY FOR MISSION RELATED PURPOSES. THE AIRLINE ACCOMMODATIONS MAY INCLUDE FIRST-CLASS SEATING WHEN THE TRAVEL IS FOR A PERIOD OF EIGHT HOURS OR MORE. DURING THE CURRENT FISCAL YEAR, ONE KEY EMPLOYEE TRAVELLED USING SUCH AIRLINE ACCOMODATIONS. THE VALUE OF WHICH WAS NOT INCLUDED IN TAXABLE COMPENSATION AS IT WAS A BUSINESS EXPENSE."},{"form_and_line_reference":"Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 80% OF HIS BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINES 6(A) AND 7. SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 100% OF HER BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINES 6(A) AND 7."},{"form_and_line_reference":"Schedule J, Part I, Line 6a Compensation contingent on net earnings of the organization","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $89,301 WAS MADE IN FYE 06/30/2016 AND LATER PAID IN AUGUST, 2016. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B). SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $190,456 WAS MADE IN FYE 06/30/16 AND LATER PAID IN AUGUST, 2016. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B)."},{"form_and_line_reference":"Schedule J, Part I, Line 7 Non-fixed payments","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS OF $79,050 FOR HIS INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B) AND IS INCLUDED AS PART OF THE BONUS PAYOUT FROM LINE 6A. SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PLAN AND RECEIVED A NON-FIXED PAYMENT OF $76,705 FOR HER INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B) AND IS INCLUDED AS PART OF THE BONUS PAYOUT FROM LINE 6A."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities_text":"EDUCATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"2","controlled_organization_indicator":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":43419100,"business_name_line1":"WALNUT HILL PROPERTIES CORP","primary_activities_text":"REAL ESTATE MANAGEMENT","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"PO BOX 53 TRUSTEES OF TUFTS COLLEGE","city":"MEDFORD","state":"MA","zip":"02153","name":"WALNUT HILL PROPERTIES CORP","address":"PO BOX 53 TRUSTEES OF TUFTS COLLEGE, MEDFORD, MA, 02153"},{"ein":237000827,"business_name_line1":"TUFTS SHARED SERVICES INC","primary_activities_text":"COORDINATE HEALTH & EDUCATIONAL SERVICES","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type III-FI","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"171 HARRISON AVE PO BOX 634","city":"BOSTON","state":"MA","zip":"02111","name":"TUFTS SHARED SERVICES INC","address":"171 HARRISON AVE PO BOX 634, BOSTON, MA, 02111"},{"ein":43430674,"business_name_line1":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","primary_activities_text":"VETERINARY EMERGENCY TREATMENT & CARE","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"200 WESTBOROUGH ROAD","city":"NORTH GRAFTON","state":"MA","zip":"02158","name":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","address":"200 WESTBOROUGH ROAD, NORTH GRAFTON, MA, 02158"},{"ein":43289926,"business_name_line1":"TUFTS HEALTH CARE INSTITUTE","primary_activities_text":"DEVELOPS ACCREDITED EDUCATIONAL ACTIVITIES & WORKSHOPS FOR HEALTH CARE PROFESSIONALS","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"136 HARRISON AVENUE","city":"BOSTON","state":"MA","zip":"02111","name":"TUFTS HEALTH CARE INSTITUTE","address":"136 HARRISON AVENUE, BOSTON, MA, 02111"},{"ein":43236078,"business_name_line1":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","primary_activities_text":"VEBA","exempt_code_section_text":"501(c)(9)","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":474543971,"business_name_line1":"TUFTS GLOBAL INC","primary_activities_text":"FOREIGN OPERATIONS SUPPORT ORGANIZATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS GLOBAL INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","primary_activity":"MICROFINANCE COMPANY","ownership_percentage":0.3158,"share_of_total_income":-1198495,"share_of_end_of_year_assets":8258973,"legal_domicile_foreign_country":"MX","direct_controlling_business_name_line1":"NA","foreign_address_line1":"PASEO DE LA REFORMA 381 PISO 5","foreign_province_or_state":"CUAUHTEMOC","foreign_postal_code":"06500","foreign_country":"MX","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"VEHICULOS LIQUIDOS FINANCIEROS","foreign_address":"PASEO DE LA REFORMA 381 PISO 5, CUAUHTEMOC, 06500, MX"},{"ein":43184043,"business_name_line1":"JM HOLDINGS INC","primary_activity":"REAL ESTATE DEVELOPMENT","ownership_percentage":1.0,"share_of_total_income":-2057,"share_of_end_of_year_assets":48198,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"JM HOLDINGS INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"business_name_line1":"PERPETUAL TRUSTS - 8","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","name":"PERPETUAL TRUSTS - 8"},{"business_name_line1":"CHARITABLE REMAINDER UNITRUSTS - 31","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","name":"CHARITABLE REMAINDER UNITRUSTS - 31"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":true,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":true,"other_transfer_from_other_org":false,"other_transfer_to_other_org":false},"transactions":[{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","amount_involved":154036,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"A","name":"VEHICULOS LIQUIDOS FINANCIEROS"},{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","amount_involved":2000000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"D","name":"VEHICULOS LIQUIDOS FINANCIEROS"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":481918,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"}],"supplemental_information":[{"form_and_line_reference":"Schedule R, Part IV, Column (a) TRUSTS","explanation":"THE PERPETUAL AND CHARITABLE REMAINDER TRUSTS ARE DOMICILED IN FLORIDA, INDIANA, MASSACHUSETTS, AND NEW JERSEY."},{"form_and_line_reference":"Schedule R, Part V Lines 1A and 1D -Loans to related organization","explanation":"On November 23, 2016, The Omidyar-Tufts Microfinance Fund (OTMF) entered into a loan agreement with Vehiculos Liquidos Financieros (Velifin) who is also a related party, for $2,000,000 with maturity date on November 23, 2018. Such loan bears interest at a fixed annual interest rate of 12.45%, payable on a monthly basis."}]},"source_xml":"201841309349301434_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and relief of the poor through microfinance investments.","primary_activities":"Microfinance investments - the fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, savings, insurance, remittances and payment services, to poor and low-income households and to micro-enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) direct investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro-enterprises.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the Trustees of Tufts College, by engaging in two activities: promoting the relief of the poor and distressed through microfinance investments, and promoting education through grants. During the year ended June 30, 2016, the Omidyar-Tufts Microfinance Fund disbursed over $14 million in microfinance investments. At June 30, 2016 the fund had made 16 investments and $152 million in commitments since inception. To date, the fund has provided investment capital for microfinance in Latin America, Africa, Eastern and Central Europe and Central Asia. The fund currently has investments in over 50 countries. Microfinance Investments. The Fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, equity savings, insurance, remittances and payment services, that economically empower and benefit the poor, low-income households, and micro and small enterprises. All capital assets of the Fund will be used exclusively for one or both of the following purposes: (i) investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro and small enterprises. Poor and Low-Income Households The vast majority of the world's poorest people lack access to even the most basic financial services. The poor are shut out of the system for two primary reasons. First, traditional banking systems require borrowers to have property - to use financial terms, \"collateral\" - in order to receive a loan, and the extremely poor have no such collateral. Second, traditional banks believe it is difficult to make a commercially reasonable rate of return on small loans of the type sought by people who are extremely poor (usually between $50 and $150) because the interest benefits do not exceed the transaction costs. Without access to such services, the world's poorest people are unable to break out of the cycle of poverty that keeps them trapped at subsistence standards of living. They lack the ability to borrow and save, and without insurance, their livelihoods are always in danger of being wiped out by natural or other disasters. Microfinance programs address these problems. They have helped millions of people in developing countries raise their standards of living and protect themselves from crippling economic setbacks. Microfinance products such as savings accounts, microcredit loans of small amounts, and affordable health insurance empower the poor to lift themselves out of poverty by enabling them to secure better nutrition, education, healthcare and housing for their families. Microfinance institutions (\"MFIs\") differ from traditional banks in several significant ways. First, for example, rather than solely focusing on individual borrowers and individual collateral, MFIs sometimes lend to groups of borrowers, relying on social capital to ensure loan repayment. Another significant difference between MFIs and traditional banks is that the loan cycles offered by MFIs are usually shorter than traditional commercial loans - typically six months to a year, with payments plus interest due weekly or monthly. The transaction-intense nature of weekly payment collections, often in rural areas, is more expensive than running a bank branch that provides large loans to economically secure borrowers in metropolitan areas. As a result, MFIs must charge interest rates that may seem high - often 30 percent to 70 percent annually - in order to cover their costs. However, these interest rates are significantly lower than the market rates for the only other credit that is available to very poor borrowers - namely, the 300 percent to 3,000 percent annual rates charged by local money lenders. Finally, MFIs generally focus their efforts on women, who have a higher unemployment rate than men in most countries and who make up the majority of the informal sector of most economies. Because women are usually primary or sole family caretakers in many developing countries and tend to put the needs of children first, putting extra income in women's hands is often the most efficient way to increase the standard of living of an entire family. Many studies of microcredit recipients have shown that women invest their savings in their children's education, which in turn enables the children to escape the cycle of poverty and bring extra income into the family. Providing microcredit loans to women, therefore, tends to create a multiplier effect that increases the impact of an MFI's activities, benefiting multiple generations. Studies have shown that MFIs and microfinance opportunities have dramatically relieved the plight of the poor and distressed. MFIs serve more than 80 million poor people in developing countries with over $7 billion in outstanding microcredit loans. For example, in July 2004, Grameen Bank, the best-known and original MFI in the world, had 3.7 million borrowers, 96 percent of whom were women. With help from charitable organizations, that organization grew from a small test project in the late 1970s to be the biggest provider of microcredit in Bangladesh, with branches in 68% of that country's villages. Its success has been well documented by groups such as the World Bank. The Fund hopes to assist in the creation of similar success stories in other developing countries. Micro-enterprises The Fund will also support MFIs that work with micro and small enterprises via microfinance investments. Micro and small enterprises are businesses with typically fewer than 100 employees, including unpaid family members. Often micro-enterprises involve only one person, the owner-operator. Other defining characteristics are a low level of assets and low income of the owner. Micro-enterprises exist on the fringe of most formal economies and often arise when formal unemployment rises or when economic hardship strikes. Typical micro-enterprise activities are food processing, handicraft production, repair services, dressmaking, food vending and trading. These types of activities often provide the only opportunities for the poorest members of a community to increase their standard of living. Supporting such endeavors contributes greatly to the advancement of society and the relief of extreme poverty by enabling the world's poorest people to engage with dignity in small-scale grassroots businesses endeavors that would otherwise fail to attract the small amounts of seed capital necessary to their success. Micro-enterprises expand the opportunities for the poor to become self-sufficient and protect themselves in times of crisis. Micro-enterprises generally serve only members of the immediate community, becoming stabilizing forces in otherwise unstable communities. They thus contribute to the economic and social well-being of the entire community, not just the direct participants.","year":2015,"name":"THE OMIDYAR-TUFTS MICROFINANCE FUND","phone":"6176272144","type":"990","foreign_countries":["Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","total_volunteers":0,"tax_period_begin":"2015-07-01T00:00:00","tax_period_end":"2016-06-30T00:00:00","address":"169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":true,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":true,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements consolidated and separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":1159558,"Contributions":{"value":0},"Program revenue":{"value":0,"Total other revenue":0},"Investment income":{"value":1159558,"Investment income total":1269100,"Net investment gain":-109542},"Other revenues":{"value":0,"Other total":0}},"Expenses":{"value":505584,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":368420,"Current officers":329877,"Payroll taxes":38543},"Other expenses":{"value":137164,"Legal":26133,"Accounting":37820,"Investment management fees":41065,"Other services":0,"Office expenses":3392,"Travel":27209,"Itemized Expenses":1545,"All other expenses":0},"Functional Expenses":{"Program Service Expenses":430922,"Management And General Expenses":74662,"Fundraising Expenses":0}},"Assets":{"value":104974675,"Savings and temp cash investments":8902358,"Receivables from officers":0,"Receivables from disqual persons":0,"Land, building, equipment":0,"Investments other":96070376,"Other assets":1941},"Liabilities":{"value":123005,"Accounts payable, accrued":123005,"Other liabilities":0},"Fund balance":{"value":104851670,"Temporarily restricted net assets":104851670},"Form990Details":{"program_service_accomplishments":[{"description":"MICROFINANCE INVESTMENTS - THE FUND'S GOVERNING DOCUMENT DEFINES \"MICROFINANCE\" AS THE DELIVERY OF FINANCIAL SERVICES, SUCH AS CREDIT, SAVINGS, INSURANCE, REMITTANCES AND PAYMENT SERVICES, TO POOR AND LOW-INCOME HOUSEHOLDS AND TO MICRO-ENTERPRISES. ALL CAPITAL ASSETS OF THE FUND WILL BE USED EXCLUSIVELY FOR ONE OR BOTH OF THE FOLLOWING PURPOSES: (I) DIRECT INVESTMENT IN MICROFINANCE-RELATED VENTURES, AND (II) THE CREDIT ENHANCEMENT OF MICROFINANCE-RELATED VENTURES, SUCH AS BY PROVIDING LOAN GUARANTEES. THESE MICROFINANCE INVESTMENTS ARE INTENDED TO BENEFIT POOR AND LOW-INCOME INDIVIDUALS, BOTH AS MEMBERS OF HOUSEHOLDS AND AS OWNERS OF MICRO-ENTERPRISES.","expense":430922,"revenue":1159558}],"functional_expense_allocations":{"current_officers_directors":{"program_services":296889,"management_and_general":32988,"total":329877},"payroll_taxes":{"program_services":34689,"management_and_general":3854,"total":38543},"legal_fees":{"program_services":26133,"total":26133},"accounting_fees":{"management_and_general":37820,"total":37820},"investment_management_fees":{"program_services":41065,"total":41065},"other_service_fees":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0},"office_expenses":{"program_services":3392,"total":3392},"travel":{"program_services":27209,"total":27209},"all_other_expenses":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_vi":true},"principal_officer_detail":{"business_name_line1":"Anthony P Monaco"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false},"books_in_care_of_detail":{"phone":"6176272144","business_name_line1":"Edward Mahoney Accounting Director","address_line1":"169 Holland Street","city":"Somerville","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"business_name_line1":"ANTHONY P MONACO","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":60.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":812284,"other_compensation":143174,"individual_trustee_or_director":true,"name":"ANTHONY P MONACO"},{"business_name_line1":"JEFFREY MOSLOW","title":"TRUSTEE & CHAIRPERSON - START DATE 10/30/2015","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"JEFFREY MOSLOW"},{"business_name_line1":"JAMES STERN","title":"TRUSTEE - END DATE 10/30/2015","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"JAMES STERN"},{"business_name_line1":"MICHAEL MOHR","title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"MICHAEL MOHR"},{"business_name_line1":"PIERRE M OMIDYAR","title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"PIERRE M OMIDYAR"},{"business_name_line1":"SETH MERRIN","title":"TRUSTEE","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"SETH MERRIN"},{"business_name_line1":"SALLY DUNGAN","title":"CHIEF INVESTMENT OFFICER","average_hours_per_week":5.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":714261,"other_compensation":260581,"key_employee":true,"name":"SALLY DUNGAN"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":322950,"other_compensation":83389,"key_employee":true,"name":"TRYFAN D EVANS"}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"supported_organizations_count":1,"sum_of_amounts":431714,"other_support_sum":0,"rows":[{"ein":42103634,"organization_type":"2","support_amount":431714,"other_support_amount":0,"governing_document_listed":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled":false,"contribution_controller":false,"contribution_family":false,"controlled_by_disqualified_person":false,"disqualified_person_controlling_interest":false,"disqualified_person_ownership_interest":false,"excess_business_holdings_rules":false,"listed_by_name_governing_doc":true,"loan_disqualified_person":false,"organization_change_supported_org":false,"payment_substantial_contributor":false,"support_non_supported_org":false,"supported_org_not_organized_us":false,"supported_org_section_c456":false,"supporting_org_no_irs_determination":false,"type1_operate_benefit_non_supported_org":false,"type1_power_appoint_majority":true},"supplemental_information":{"part_vi":[{"form_and_line_reference":"Schedule A, Part I LINE 11(G)(V) - AMOUNT OF MONETARY SUPPORT","explanation":"TRUSTEES OF TUFTS COLLEGE, A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS MICROFINANCE FUND (THE FUND), PAID OPERATING COSTS FOR THE FUND TOTALLING $470,219 FOR THE YEAR-ENDED JUNE 30, 2016. THE FUND REIMBURSED THE UNIVERSITY FOR $431,714 OF THESE COSTS. THE BALANCE OF THE COSTS NOT YET REIMBURSED AT JUNE 30, 2016 IS $38,505. THE OPERATING COSTS INCURRED BY THE FUND INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO MANAGE THE FUNDS INVESTMENTS."}]}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"endowment_funds":{"current_year":{"beginning_year_balance":111101249,"investment_earnings_or_losses":-5743995,"other_expenditures":430922,"administrative_expenses":74662,"end_year_balance":104851670},"current_year_minus1":{"beginning_year_balance":112739798,"investment_earnings_or_losses":-1136478,"other_expenditures":428031,"administrative_expenses":74040,"end_year_balance":111101249},"current_year_minus2":{"beginning_year_balance":116264965,"investment_earnings_or_losses":-2771188,"other_expenditures":661276,"administrative_expenses":92703,"end_year_balance":112739798},"current_year_minus3":{"beginning_year_balance":114742033,"investment_earnings_or_losses":3879390,"grants_or_scholarships":1522929,"other_expenditures":732296,"administrative_expenses":101233,"end_year_balance":116264965},"current_year_minus4":{"beginning_year_balance":117910008,"investment_earnings_or_losses":-2485322,"other_expenditures":594566,"administrative_expenses":88087,"end_year_balance":114742033},"board_designated_eoy_percentage":0.0,"permanent_endowment_eoy_percentage":0.0,"term_endowment_eoy_percentage":1.0,"held_by_unrelated_organizations":false,"held_by_related_organizations":false},"securities":{"closely_held_equity_interests":{"book_value":5116694,"method_of_valuation":"F"},"other_securities":[{"description":"VENTURE CAPITAL","book_value":30584511,"method_of_valuation":"F"},{"description":"FIXED INCOME","book_value":17675962,"method_of_valuation":"F"},{"description":"PRIVATE EQUITY INVESTMENTS","book_value":42693209,"method_of_valuation":"F"}],"total_book_value":96070376},"other_liabilities":{"total_liability":0,"footnote_text":true},"revenue_reconciliation":{"total_revenue_audited_financial_statements":-5743995,"net_unrealized_gains_investments":-6903553,"other_revenue":0,"revenue_not_reported":-6903553,"revenue_subtotal":1159558,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":1159558},"expense_reconciliation":{"total_expenses_audited_financial_statements":505584,"other_expenses_included":0,"expenses_not_reported":0,"expenses_subtotal":505584,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":505584},"supplemental_information":[{"form_and_line_reference":"Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote","explanation":"US GAAP REQUIRES THE OMIDYAR-TUFTS MICROFINANCE FUND (THE FUND) TO EVALUATE TAX POSITIONS TAKEN BY THE FUND AND RECOGNIZE A TAX LIABILITY(OR ASSET) IF THE FUND HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE FUND HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2016, THERE ARE NO SIGNIFICANT UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS."}]},"ScheduleF":{"regions":[{"region":"Central America and the Caribbean","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":20532000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":64093000,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":7945000,"employees":0,"offices":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":3631000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":22363,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":4846,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":96228209,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":96228209,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":0},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false}},"ScheduleJ":{"benefits_and_procedures":{"first_class_or_charter_travel":true,"substantiation_required":true,"written_policy_travel_and_entertainment":true},"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":true,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"business_name_line1":"ANTHONY P MONACO","title":"TRUSTEE","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":748663,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":51825,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":91349,"other_compensation_filing_org":0,"other_compensation_related_orgs":63621,"total_compensation_filing_org":0,"total_compensation_related_orgs":955458,"name":"ANTHONY P MONACO"},{"business_name_line1":"SALLY DUNGAN","title":"CHIEF INVESTMENT OFFICER","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":337224,"compensation_based_on_related_orgs":365380,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":165591,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":186395,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":74186,"other_compensation_filing_org":0,"other_compensation_related_orgs":11657,"total_compensation_filing_org":0,"total_compensation_related_orgs":974842,"name":"SALLY DUNGAN"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":90366,"compensation_based_on_related_orgs":210556,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":38979,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":61614,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":21775,"other_compensation_filing_org":0,"other_compensation_related_orgs":22028,"total_compensation_filing_org":0,"total_compensation_related_orgs":406339,"name":"TRYFAN D EVANS"}],"supplemental_information":[{"form_and_line_reference":"Schedule J, Part III SCH J, PART II","explanation":"THE OMIDYAR-TUFTS MICROFINANCE FUND (OTMF) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR OTMF INCENTIVE PLANS."},{"form_and_line_reference":"Schedule J, Part I, Line 1a First-class or charter travel","explanation":"THE DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND AND OTHER STAFF WHO WORK ON THE FUNDS' INVESTMENTS TRAVEL ABROAD PERIODICALLY FOR MISSION RELATED PURPOSES. THE AIRLINE ACCOMMODATIONS MAY INCLUDE FIRST-CLASS SEATING WHEN THE TRAVEL IS FOR A PERIOD OF EIGHT HOURS OR MORE. DURING THE CURRENT FISCAL YEAR, ONE KEY EMPLOYEE TRAVELLED USING SUCH AIRLINE ACCOMODATIONS. THE VALUE OF WHICH WAS NOT INCLUDED IN TAXABLE COMPENSATION AS IT WAS A BUSINESS EXPENSE."},{"form_and_line_reference":"Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 80% OF HIS BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINES 6(A) AND 7. SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 100% OF HER BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINES 6(A) AND 7."},{"form_and_line_reference":"Schedule J, Part I, Line 6a Compensation contingent on net earnings of the organization","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $90,366 WAS MADE IN FYE 06/30/2015 AND LATER PAID IN AUGUST, 2015. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B). SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PROGRAM FOR MANAGING THE OMIDYAR TUFTS MICROFINANCE FUND. A BONUS ACCRUAL AMOUNT OF $337,224 WAS MADE IN FYE 06/30/15 AND LATER PAID IN AUGUST, 2015. THE INCENTIVE PROGRAM IS BASED ON THE PORTFOLIO RETURNS, MINIMIZING INVESTMENT EXPENSES, AS WELL AS MANAGING INVESTMENT AND OPERATIONAL RISK. THIS AMOUNT IS A COMPONENT OF THE TOTAL REPORTABLE AMOUNT AS EXPLAINED ON SCHEDULE J, LINE 4(B)."},{"form_and_line_reference":"Schedule J, Part I, Line 7 Non-fixed payments","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS OF $37,836 FOR HIS INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B) AND IS INCLUDED AS PART OF THE BONUS PAYOUT FROM LINE 6A. SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN ANNUAL INCENTIVE PLAN AND RECEIVED A NON-FIXED PAYMENT OF $74,992 FOR HER INDIVIDUAL JOB PERFORMANCE AND ACHIEVING CERTAIN GOALS AND OBJECTIVES. THIS AMOUNT IS PART OF THE SAME PLAN AS DESCRIBED ON LINE 4(B) AND IS INCLUDED AS PART OF THE BONUS PAYOUT FROM LINE 6A."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities_text":"EDUCATION","exempt_code_section_text":"501(c)(3","public_charity_status_text":"2","controlled_organization_indicator":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":43419100,"business_name_line1":"WALNUT HILL PROPERTIES CORP","primary_activities_text":"REAL ESTATE MANAGEMENT","exempt_code_section_text":"501(c)(3","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"PO BOX 53 TRUSTEES OF TUFTS COLLEGE","city":"MEDFORD","state":"MA","zip":"02153","name":"WALNUT HILL PROPERTIES CORP","address":"PO BOX 53 TRUSTEES OF TUFTS COLLEGE, MEDFORD, MA, 02153"},{"ein":237000827,"business_name_line1":"TUFTS SHARED SERVICES INC","primary_activities_text":"COORDINATE HEALTH & EDUCATIONAL SERVICES","exempt_code_section_text":"501(c)(3","public_charity_status_text":"Type III-FI","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"171 HARRISON AVE PO BOX 634","city":"BOSTON","state":"MA","zip":"02111","name":"TUFTS SHARED SERVICES INC","address":"171 HARRISON AVE PO BOX 634, BOSTON, MA, 02111"},{"ein":43430674,"business_name_line1":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","primary_activities_text":"VETERINARY EMERGENCY TREATMENT & CARE","exempt_code_section_text":"501(c)(3","public_charity_status_text":"9","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"200 WESTBOROUGH ROAD","city":"NORTH GRAFTON","state":"MA","zip":"02158","name":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","address":"200 WESTBOROUGH ROAD, NORTH GRAFTON, MA, 02158"},{"ein":43289926,"business_name_line1":"TUFTS HEALTH CARE INSTITUTE","primary_activities_text":"DEVELOPS ACCREDITED EDUCATIONAL ACTIVITIES & WORKSHOPS FOR HEALTH CARE PROFESSIONALS","exempt_code_section_text":"501(c)(3","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"136 HARRISON AVENUE","city":"BOSTON","state":"MA","zip":"02111","name":"TUFTS HEALTH CARE INSTITUTE","address":"136 HARRISON AVENUE, BOSTON, MA, 02111"},{"ein":43236078,"business_name_line1":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","primary_activities_text":"VEBA","exempt_code_section_text":"501(c)(9","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":474543971,"business_name_line1":"TUFTS GLOBAL INC","primary_activities_text":"FOREIGN OPERATIONS SUPPORT ORGANIZATION","exempt_code_section_text":"501(c)(3","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS GLOBAL INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","primary_activity":"MICROFINANCE COMPANY","ownership_percentage":0.6253,"share_of_total_income":-2023835,"share_of_end_of_year_assets":14463922,"legal_domicile_foreign_country":"MX","direct_controlling_business_name_line1":"NA","foreign_address_line1":"PASEO DE LA REFORMA 381 PISO 5","foreign_province_or_state":"CUAUHTEMOC","foreign_postal_code":"06500","foreign_country":"MX","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"VEHICULOS LIQUIDOS FINANCIEROS","foreign_address":"PASEO DE LA REFORMA 381 PISO 5, CUAUHTEMOC, 06500, MX"},{"ein":43184043,"business_name_line1":"JM HOLDINGS INC","primary_activity":"REAL ESTATE DEVELOPMENT","ownership_percentage":1.0,"share_of_total_income":-5389,"share_of_end_of_year_assets":255,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"JM HOLDINGS INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"business_name_line1":"PERPETUAL TRUSTS - 8","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","name":"PERPETUAL TRUSTS - 8"},{"business_name_line1":"CHARITABLE REMAINDER UNITRUSTS - 34","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","name":"CHARITABLE REMAINDER UNITRUSTS - 34"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":false},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":38505,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"M","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":431714,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"}],"supplemental_information":[{"form_and_line_reference":"Schedule R, Part II TUFTS GLOBAL, INC.","explanation":"This entity is a newly formed corporation domiciled in Massachusetts and is applying for 501(c)(3) tax exemption within the prescribed allowable time period via IRS Form 1023 and will operate as a supporting organization to Tufts University. It's main purpose is to support and facilitate foreign related activities."},{"form_and_line_reference":"Schedule R, Part IV, Column (a) TRUSTS","explanation":"THE PERPETUAL AND CHARITABLE REMAINDER TRUSTS ARE DOMICILED IN FLORIDA, INDIANA, MASSACHUSETTS, AND NEW JERSEY."}]},"source_xml":"201741319349304229_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and relief of the poor through microfinance investments.","primary_activities":"Microfinance investments - the fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, savings, insurance, remittances and payment services, to poor and low-income households and to micro-enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) direct investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro-enterprises.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the Trustees of Tufts College, by engaging in two activities: promoting the relief of the poor and distressed through microfinance investments, and promoting education through grants. During the year ended June 30, 2018, the Omidyar-Tufts Microfinance Fund disbursed over $4 million in microfinance investments. At June 30, 2018 the fund had made 16 investments and $157 million in commitments since inception. To date, the fund has provided investment capital for microfinance in Latin America, Africa, Eastern and Central Europe and Central Asia. The fund currently has investments in 52 countries. Microfinance Investments The Fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, equity savings, insurance, remittances and payment services, that economically empower and benefit the poor, low-income households, and micro and small enterprises. All capital assets of the Fund will be used exclusively for one or both of the following purposes: (i) investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro and small enterprises. Poor and Low-Income Households The vast majority of the world's poorest people lack access to even the most basic financial services. The poor are shut out of the system for two primary reasons. First, traditional banking systems require borrowers to have property - to use financial terms, \"collateral\" - in order to receive a loan, and the extremely poor have no such collateral. Second, traditional banks believe it is difficult to make a commercially reasonable rate of return on small loans of the type sought by people who are extremely poor (usually between $50 and $150) because the interest benefits do not exceed the transaction costs. Without access to such services, the world's poorest people are unable to break out of the cycle of poverty that keeps them trapped at subsistence standards of living. They lack the ability to borrow and save, and without insurance, their livelihoods are always in danger of being wiped out by natural or other disasters. Microfinance programs address these problems. They have helped millions of people in developing countries raise their standards of living and protect themselves from crippling economic setbacks. Microfinance products such as savings accounts, microcredit loans of small amounts, and affordable health insurance empower the poor to lift themselves out of poverty by enabling them to secure better nutrition, education, healthcare and housing for their families. Microfinance institutions (\"MFIs\") differ from traditional banks in several significant ways. First, for example, rather than solely focusing on individual borrowers and individual collateral, MFIs sometimes lend to groups of borrowers, relying on social capital to ensure loan repayment. Another significant difference between MFIs and traditional banks is that the loan cycles offered by MFIs are usually shorter than traditional commercial loans - typically six months to a year, with payments plus interest due weekly or monthly. The transaction-intense nature of weekly payment collections, often in rural areas, is more expensive than running a bank branch that provides large loans to economically secure borrowers in metropolitan areas. As a result, MFIs must charge interest rates that may seem high - often 30 percent to 70 percent annually - in order to cover their costs. However, these interest rates are significantly lower than the market rates for the only other credit that is available to very poor borrowers - namely, the 300 percent to 3,000 percent annual rates charged by local money lenders. Finally, MFIs generally focus their efforts on women, who have a higher unemployment rate than men in most countries and who make up the majority of the informal sector of most economies. Because women are usually primary or sole family caretakers in many developing countries and tend to put the needs of children first, putting extra income in women's hands is often the most efficient way to increase the standard of living of an entire family. Many studies of microcredit recipients have shown that women invest their savings in their children's education, which in turn enables the children to escape the cycle of poverty and bring extra income into the family. Providing microcredit loans to women, therefore, tends to create a multiplier effect that increases the impact of an MFI's activities, benefiting multiple generations. Studies have shown that MFIs and microfinance opportunities have dramatically relieved the plight of the poor and distressed. MFIs serve more than 116 million poor people in developing countries with over $9 billion in outstanding microcredit loans. Micro-enterprises The Fund will also support MFIs that work with micro and small enterprises via microfinance investments. Micro and small enterprises are businesses with typically fewer than 100 employees, including unpaid family members. Often micro-enterprises involve only one person, the owner-operator. Other defining characteristics are a low level of assets and low income of the owner. Micro-enterprises exist on the fringe of most formal economies and often arise when formal unemployment rises or when economic hardship strikes. Typical micro-enterprise activities are food processing, handicraft production, repair services, dressmaking, food vending and trading. These types of activities often provide the only opportunities for the poorest members of a community to increase their standard of living. Supporting such endeavors contributes greatly to the advancement of society and the relief of extreme poverty by enabling the world's poorest people to engage with dignity in small-scale grassroots businesses endeavors that would otherwise fail to attract the small amounts of seed capital necessary to their success. Micro-enterprises expand the opportunities for the poor to become self-sufficient and protect themselves in times of crisis. Micro-enterprises generally serve only members of the immediate community, becoming stabilizing forces in otherwise unstable communities. They thus contribute to the economic and social well-being of the entire community, not just the direct participants.","year":2017,"name":"THE OMIDYAR-TUFTS MICROFINANCE FUND","phone":"6176272144","type":"990","foreign_countries":["Afghanistan","Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Bangladesh","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bhutan","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","India","Iran","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Maldives","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Nepal","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Pakistan","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sri Lanka","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","total_volunteers":0,"tax_period_begin":"2017-07-01T00:00:00","tax_period_end":"2018-06-30T00:00:00","address":"169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":true,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":true,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements consolidated and separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":-2914215,"Contributions":{"value":0},"Program revenue":{"value":0,"Total other revenue":0},"Investment income":{"value":-2914215,"Investment income total":1133737,"Net investment gain":-4047952},"Other revenues":{"value":0,"Other total":0}},"Expenses":{"value":829520,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":590177,"Current officers":463517,"Other salaries and wages":46810,"Payroll taxes":79850},"Other expenses":{"value":239343,"Legal":24066,"Accounting":34100,"Investment management fees":41668,"Other services":89590,"Office expenses":8405,"Travel":28049,"Itemized Expenses":{"value":13465,"DUES AND MEMBERSHIPS":1530,"TRAINING AND WORKSHOPS":11935},"All other expenses":0},"Functional Expenses":{"Program Service Expenses":736402,"Management And General Expenses":93118,"Fundraising Expenses":0}},"Assets":{"value":101267871,"Savings and temp cash investments":6103997,"Accounts receivable":0,"Receivables from officers":0,"Receivables from disqual persons":0,"Land, building, equipment":0,"Investments other":94628966,"Other assets":534908},"Liabilities":{"value":268823,"Accounts payable, accrued":268823,"Loans from officers, directors":0,"Other liabilities":0},"Fund balance":{"value":100999048,"Temporarily restricted net assets":100999048},"Form990Details":{"program_service_accomplishments":[{"description":"MICROFINANCE INVESTMENTS - THE FUND'S GOVERNING DOCUMENT DEFINES \"MICROFINANCE\" AS THE DELIVERY OF FINANCIAL SERVICES, SUCH AS CREDIT, SAVINGS, INSURANCE, REMITTANCES AND PAYMENT SERVICES, TO POOR AND LOW-INCOME HOUSEHOLDS AND TO MICRO-ENTERPRISES. ALL CAPITAL ASSETS OF THE FUND WILL BE USED EXCLUSIVELY FOR ONE OR BOTH OF THE FOLLOWING PURPOSES: (I) DIRECT INVESTMENT IN MICROFINANCE-RELATED VENTURES, AND (II) THE CREDIT ENHANCEMENT OF MICROFINANCE-RELATED VENTURES, SUCH AS BY PROVIDING LOAN GUARANTEES. THESE MICROFINANCE INVESTMENTS ARE INTENDED TO BENEFIT POOR AND LOW-INCOME INDIVIDUALS, BOTH AS MEMBERS OF HOUSEHOLDS AND AS OWNERS OF MICRO-ENTERPRISES.","expense":736402,"revenue":-2914215}],"functional_expense_allocations":{"current_officers_directors":{"program_services":417165,"management_and_general":46352,"total":463517},"other_salaries_and_wages":{"program_services":42129,"management_and_general":4681,"total":46810},"payroll_taxes":{"program_services":71865,"management_and_general":7985,"total":79850},"legal_fees":{"program_services":24066,"total":24066},"accounting_fees":{"management_and_general":34100,"total":34100},"investment_management_fees":{"program_services":41668,"total":41668},"other_service_fees":{"program_services":89590,"management_and_general":0,"fundraising":0,"total":89590},"office_expenses":{"program_services":8405,"total":8405},"travel":{"program_services":28049,"total":28049},"all_other_expenses":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":true,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_vi":true,"schedule_o_part_ix":true},"principal_officer_detail":{"business_name_line1":"Anthony P Monaco"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false},"books_in_care_of_detail":{"phone":"6176272144","business_name_line1":"Edward Mahoney Associate Controller","address_line1":"169 Holland Street","city":"Somerville","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":60.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":975015,"other_compensation":165996,"individual_trustee_or_director":true,"name":"Anthony P Monaco"},{"business_name_line1":"Jeffrey M Moslow","title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"average_hours_per_week_related_org":3.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"Jeffrey M Moslow"},{"business_name_line1":"PIERRE M OMIDYAR","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"PIERRE M OMIDYAR"},{"business_name_line1":"MICHAEL MOHR","title":"TRUSTEE - END DATE 11/6/17","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"MICHAEL MOHR"},{"business_name_line1":"SETH MERRIN","title":"TRUSTEE - END DATE 1/1/18","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"SETH MERRIN"},{"business_name_line1":"ROBINSON JACOBS","title":"TRUSTEE - START DATE 11/6/17","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"ROBINSON JACOBS"},{"business_name_line1":"THOMAS L PAPPAS","title":"TRUSTEE - START DATE 1/1/18","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"THOMAS L PAPPAS"},{"business_name_line1":"Sally Dungan","title":"CHIEF INVESTMENT OFFICER","average_hours_per_week":5.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":644770,"other_compensation":243362,"key_employee":true,"name":"Sally Dungan"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":397704,"other_compensation":126658,"key_employee":true,"name":"TRYFAN D EVANS"}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"supported_organizations_count":1,"sum_of_amounts":689828,"other_support_sum":0,"rows":[{"ein":42103634,"organization_type":"2","support_amount":689828,"other_support_amount":0,"governing_document_listed":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled":false,"contribution_controller":false,"contribution_family":false,"controlled_by_disqualified_person":false,"disqualified_person_controlling_interest":false,"disqualified_person_ownership_interest":false,"excess_business_holdings_rules":false,"listed_by_name_governing_doc":true,"loan_disqualified_person":false,"organization_change_supported_org":false,"payment_substantial_contributor":false,"support_non_supported_org":false,"supported_org_not_organized_us":false,"supported_org_section_c456":false,"supporting_org_no_irs_determination":false,"type1_operate_benefit_non_supported_org":false,"type1_power_appoint_majority":true},"supplemental_information":{"part_vi":[{"form_and_line_reference":"Schedule A, Part I LINE 11(G)(V) - AMOUNT OF MONETARY SUPPORT","explanation":"TRUSTEES OF TUFTS COLLEGE (TUFTS), A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS MICROFINANCE FUND (THE FUND), PAID OPERATING COSTS FOR THE FUND TOTALLING $797,052 FOR THE YEAR-ENDED JUNE 30, 2018. THE FUND REIMBURSED TUFTS FOR $689,828 OF THESE COSTS. CONSIDERING THE TIMING OF THE YEAR-END THE FUND HAD UNDERPAID TUFTS $107,224, WHICH IS CURRENTLY REFLECTED AS AN ACCOUNT PAYABLE TO TUFTS. THE OPERATING COSTS INCURRED BY THE FUND INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO MANAGE THE FUNDS INVESTMENTS."}]}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"endowment_funds":{"current_year":{"beginning_year_balance":103244235,"investment_earnings_or_losses":-1415667,"other_expenditures":736402,"administrative_expenses":93118,"end_year_balance":100999048},"current_year_minus1":{"beginning_year_balance":104851670,"investment_earnings_or_losses":-1021104,"other_expenditures":502149,"administrative_expenses":84182,"end_year_balance":103244235},"current_year_minus2":{"beginning_year_balance":111101249,"investment_earnings_or_losses":-5743995,"other_expenditures":430922,"administrative_expenses":74662,"end_year_balance":104851670},"current_year_minus3":{"beginning_year_balance":112739798,"investment_earnings_or_losses":-1136478,"other_expenditures":428031,"administrative_expenses":74040,"end_year_balance":111101249},"current_year_minus4":{"beginning_year_balance":116264965,"investment_earnings_or_losses":-2771188,"other_expenditures":661276,"administrative_expenses":92703,"end_year_balance":112739798},"board_designated_eoy_percentage":0.0,"permanent_endowment_eoy_percentage":0.0,"term_endowment_eoy_percentage":1.0,"held_by_unrelated_organizations":false,"held_by_related_organizations":false},"securities":{"closely_held_equity_interests":{"book_value":5516622,"method_of_valuation":"F"},"other_securities":[{"description":"VENTURE CAPITAL","book_value":31774242,"method_of_valuation":"F"},{"description":"FIXED INCOME","book_value":20551514,"method_of_valuation":"F"},{"description":"PRIVATE EQUITY INVESTMENTS","book_value":4086492,"method_of_valuation":"F"},{"description":"EQUITY INVESTMENTS","book_value":32700096,"method_of_valuation":"F"}],"total_book_value":94628966},"other_liabilities":{"total_liability":0,"footnote_text":true},"revenue_reconciliation":{"total_revenue_audited_financial_statements":-1415667,"net_unrealized_gains_investments":1498548,"other_revenue":0,"revenue_not_reported":1498548,"revenue_subtotal":-2914215,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":-2914215},"expense_reconciliation":{"total_expenses_audited_financial_statements":829520,"other_expenses_included":0,"expenses_not_reported":0,"expenses_subtotal":829520,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":829520},"supplemental_information":[{"form_and_line_reference":"Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote","explanation":"US GAAP REQUIRES THE OMIDYAR-TUFTS MICROFINANCE FUND (THE FUND) TO EVALUATE TAX POSITIONS TAKEN BY THE FUND AND RECOGNIZE A TAX LIABILITY(OR ASSET) IF THE FUND HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE FUND HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2018, THERE ARE NO SIGNIFICANT UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS."}]},"ScheduleF":{"regions":[{"region":"Central America and the Caribbean","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":20099000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":58741000,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":10642000,"employees":0,"offices":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":3987000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":7187,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":1464,"employees":0,"offices":0},{"region":"South Asia","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":8200,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":93485851,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":93485851,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":0},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false}},"ScheduleJ":{"benefits_and_procedures":{"first_class_or_charter_travel":true,"substantiation_required":true,"written_policy_travel_and_entertainment":true},"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":false,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":857030,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":52140,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":113856,"other_compensation_filing_org":0,"other_compensation_related_orgs":117985,"total_compensation_filing_org":0,"total_compensation_related_orgs":1141011,"name":"Anthony P Monaco"},{"business_name_line1":"Sally Dungan","title":"CHIEF INVESTMENT OFFICER","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":264310,"compensation_based_on_related_orgs":377767,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":95776,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":190068,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":53294,"other_compensation_filing_org":0,"other_compensation_related_orgs":2693,"total_compensation_filing_org":0,"total_compensation_related_orgs":888132,"name":"Sally Dungan"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":136391,"compensation_based_on_related_orgs":260930,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":45392,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":124469,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":2189,"other_compensation_filing_org":0,"other_compensation_related_orgs":383,"total_compensation_filing_org":0,"total_compensation_related_orgs":524362,"name":"TRYFAN D EVANS"}],"supplemental_information":[{"form_and_line_reference":"Schedule J, Part III SCH J, PART II","explanation":"THE OMIDYAR-TUFTS MICROFINANCE FUND (OTMF) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR OTMF INCENTIVE PLANS."},{"form_and_line_reference":"Schedule J, Part I, Line 1a First-class or charter travel","explanation":"THE DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND AND OTHER STAFF WHO WORK ON THE FUNDS' INVESTMENTS TRAVEL ABROAD PERIODICALLY FOR MISSION RELATED PURPOSES. THE AIRLINE ACCOMMODATIONS MAY INCLUDE FIRST-CLASS SEATING WHEN THE TRAVEL IS FOR A PERIOD OF EIGHT HOURS OR MORE. DURING THE CURRENT FISCAL YEAR, TWO KEY EMPLOYEES TRAVELLED USING SUCH AIRLINE ACCOMODATIONS. THE VALUE OF WHICH WAS NOT INCLUDED IN TAXABLE COMPENSATION AS IT WAS A BUSINESS EXPENSE."},{"form_and_line_reference":"Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 80% OF HIS BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINE 7. SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 100% OF HER BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINE 7."},{"form_and_line_reference":"Schedule J, Part I, Line 7 Non-fixed payments","explanation":"THE TWO INVESTMENT OFFICERS ARE EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE AND PARTICIPATED IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS FOR INDIVIDUAL JOB PERFORMANCE AND FOR ACHIEVING CERTAIN GOALS AND OBJECTIVES. THESE AMOUNTS ARE A COMPONENT OF THE TOTAL REPORTABLE AMOUNTS AS EXPLAINED ON SCHEDULE J, LINE 4(B) AND ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II)."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities_text":"EDUCATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"2","controlled_organization_indicator":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":43419100,"business_name_line1":"WALNUT HILL PROPERTIES CORP","primary_activities_text":"REAL ESTATE MANAGEMENT","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"PO BOX 53 TRUSTEES OF TUFTS COLLEGE","city":"MEDFORD","state":"MA","zip":"02153","name":"WALNUT HILL PROPERTIES CORP","address":"PO BOX 53 TRUSTEES OF TUFTS COLLEGE, MEDFORD, MA, 02153"},{"ein":237000827,"business_name_line1":"TUFTS SHARED SERVICES INC","primary_activities_text":"COORDINATE HEALTH & EDUCATIONAL SERVICES","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"171 HARRISON AVE PO BOX 634","city":"BOSTON","state":"MA","zip":"02111","name":"TUFTS SHARED SERVICES INC","address":"171 HARRISON AVE PO BOX 634, BOSTON, MA, 02111"},{"ein":43430674,"business_name_line1":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","primary_activities_text":"VETERINARY EMERGENCY TREATMENT & CARE","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"200 WESTBOROUGH ROAD","city":"NORTH GRAFTON","state":"MA","zip":"02158","name":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","address":"200 WESTBOROUGH ROAD, NORTH GRAFTON, MA, 02158"},{"ein":43236078,"business_name_line1":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","primary_activities_text":"VEBA","exempt_code_section_text":"501(c)(9)","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":474543971,"business_name_line1":"TUFTS GLOBAL INC","primary_activities_text":"FOREIGN OPERATIONS SUPPORT ORGANIZATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS GLOBAL INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":46111643,"business_name_line1":"CIVIC EDUCATION FOUNDATION","primary_activities_text":"RAISE CIVIC AWARENESS","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","address_line2":"ATTN TAX DEPT","city":"SOMERVILLE","state":"MA","zip":"02144","name":"CIVIC EDUCATION FOUNDATION","address":"169 HOLLAND STREET, ATTN TAX DEPT, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"ein":43184043,"business_name_line1":"JM HOLDINGS INC","primary_activity":"REAL ESTATE DEVELOPMENT","ownership_percentage":1.0,"share_of_total_income":-2556,"share_of_end_of_year_assets":45642,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"JM HOLDINGS INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"business_name_line1":"PERPETUAL TRUSTS - 8","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"PERPETUAL TRUSTS - 8"},{"business_name_line1":"CHARITABLE REMAINDER UNITRUSTS - 28","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE REMAINDER UNITRUSTS - 28"},{"business_name_line1":"CHARITABLE LEAD TRUSTS - 5","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE LEAD TRUSTS - 5"},{"ein":516581922,"business_name_line1":"TUFTS UNIVERSITY CHARITABLE TRUST","primary_activity":"SUPPORT","ownership_percentage":1.0,"share_of_total_income":45972,"share_of_end_of_year_assets":150664,"legal_domicile_foreign_country":"HK","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"C/O TRUSTEES OF TUFTS COLLEGE","address_line2":"169 HOLLAND STREET ATTN TAX DEPT","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"Trust","controlled_organization_indicator":true,"name":"TUFTS UNIVERSITY CHARITABLE TRUST","address":"C/O TRUSTEES OF TUFTS COLLEGE, 169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":true,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":true,"other_transfer_from_other_org":false,"other_transfer_to_other_org":false},"transactions":[{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","amount_involved":272803,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"A","name":"VEHICULOS LIQUIDOS FINANCIEROS"},{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","amount_involved":2086819,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"D","name":"VEHICULOS LIQUIDOS FINANCIEROS"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":107224,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"M","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":689828,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"}],"supplemental_information":[{"form_and_line_reference":"Schedule R, Part IV, Column (a) TRUSTS","explanation":"THE PERPETUAL AND CHARITABLE REMAINDER TRUSTS ARE DOMICILED IN FLORIDA, INDIANA, MASSACHUSETTS, AND NEW JERSEY."},{"form_and_line_reference":"Schedule R, Part V Lines 1A and 1D -Loans to related organization","explanation":"On November 23, 2016, The Omidyar-Tufts Microfinance Fund (OTMF) entered into a loan agreement with Vehiculos Liquidos Financieros (Velifin) who is also a related party, for $2,000,000 with maturity date on November 23, 2018. Such loan bears interest at a fixed annual interest rate of 12.45%, payable on a monthly basis."}]},"source_xml":"201931299349301338_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and making positive societal changes through investments.","primary_activities":"Making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the Trustees of Tufts College, by making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change. During the year ended June 30, 2021, the Omidyar-Tufts Active Citizenship Trust disbursed $13.6 million in investments. At June 30, 2021 the fund had made 28 investments and $191 million in commitments since inception. To date, the fund has provided investment capital in North America, Latin America, Africa, Eastern and Central Europe and Central Asia. The fund currently has investments in 54 countries. The sectors in which the Trust invests are currently as follows: (a) Economic Inclusion: including, but not limited to, financial inclusion (microfinance, microinsurance, payments & remittances, etc.), enabling small- and medium-sized enterprises, community development, entrepreneurial ecosystems, and economic resilience; (b) Health & Wellness: including, but not limited to, healthcare services & delivery, drug development and biotechnology, wellness & healthy lifestyles, and addressing environmental & social determinants of health; (c) Real Estate: including, but not limited to, affordable housing, workforce housing, and community institutions (e.g., schools; medical facilities); (d) Education: including, but not limited to, early childhood & k-12 education, workforce training, education technology, educator training, student finance, and personalized & adaptive learning; (e) Access to Energy & Natural Resources: including, but not limited to, clean water & water rights, distributed power generation and grid and off-grid energy access. (f) Social Institutions: including, but not limited to, internet privacy & digital rights, technology that increases accountability and transparency, and tools that enable and empower civic engagement.","year":2020,"name":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST","phone":"6176272144","type":"990","foreign_countries":["Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","tax_period_begin":"2020-07-01T00:00:00","tax_period_end":"2021-06-30T00:00:00","address":"169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":true,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements consolidated and separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":-1213909,"Contributions":{"value":2875911,"Other contributions":2875911},"Program revenue":{"value":0,"Total other revenue":0},"Investment income":{"value":-4089820,"Investment income total":434764,"Net investment gain":-4524584},"Other revenues":{"value":0,"Other total":0}},"Expenses":{"value":15722957,"Grant expense":{"value":14838921,"Grants to domestic orgs":14838921},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":660306,"Current officers":404049,"Other salaries and wages":163143,"Payroll taxes":93114},"Other expenses":{"value":223730,"Legal":75486,"Accounting":35500,"Investment management fees":78219,"Other services":21679,"Office expenses":9536,"Itemized Expenses":3310,"All other expenses":0},"Functional Expenses":{"Program Service Expenses":15621427,"Management And General Expenses":101530,"Fundraising Expenses":0}},"Assets":{"value":114828830,"Savings and temp cash investments":9890260,"Accounts receivable":0,"Receivables from officers":0,"Receivables from disqual persons":0,"Land, building, equipment":0,"Investments publicly traded":19647385,"Investments other":82702799,"Other assets":2588386},"Liabilities":{"value":15108835,"Accounts payable, accrued":269914,"Grants payable":14838921,"Loans from officers, directors":0,"Other liabilities":0},"Fund balance":{"value":99719995,"Net assets with donor restriction":99719995},"Form990Details":{"program_service_accomplishments":[{"description":"Making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change.","expense":15621427,"grants":14838921,"revenue":-1213909}],"functional_expense_allocations":{"current_officers_directors":{"program_services":363644,"management_and_general":40405,"total":404049},"other_salaries_and_wages":{"program_services":146829,"management_and_general":16314,"total":163143},"payroll_taxes":{"program_services":83803,"management_and_general":9311,"total":93114},"legal_fees":{"program_services":75486,"total":75486},"accounting_fees":{"management_and_general":35500,"total":35500},"investment_management_fees":{"program_services":78219,"total":78219},"other_service_fees":{"program_services":21679,"management_and_general":0,"fundraising":0,"total":21679},"office_expenses":{"program_services":9536,"total":9536},"all_other_expenses":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":true,"deductible_contributions_of_art":false,"donor_restricted_or_quasi_endowments":true,"method_of_accounting_accrual":true,"schedule_o_part_v":true,"schedule_o_part_vi":true},"principal_officer_detail":{"business_name_line1":"Anthony P Monaco"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"business_relationship_with_35_controlled_entity":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":true,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":0,"grants_payable_end_of_year":14838921},"books_in_care_of_detail":{"phone":"6176272144","business_name_line1":"Edward Mahoney Senior Director of Accounting & Associate Controller","address_line1":"169 Holland Street","city":"Somerville","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":60.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":1004586,"other_compensation":164016,"individual_trustee_or_director":true,"name":"Anthony P Monaco"},{"business_name_line1":"Jeffrey M Moslow","title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"average_hours_per_week_related_org":3.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"Jeffrey M Moslow"},{"business_name_line1":"PIERRE M OMIDYAR","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"PIERRE M OMIDYAR"},{"business_name_line1":"ROBINSON JACOBS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"ROBINSON JACOBS"},{"business_name_line1":"THOMAS L PAPPAS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"THOMAS L PAPPAS"},{"business_name_line1":"Craig W Smith","title":"SEE SCHEDULE O","average_hours_per_week":5.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":336232,"other_compensation":98128,"key_employee":true,"name":"Craig W Smith"},{"business_name_line1":"Sally Dungan","title":"SEE SCHEDULE O","average_hours_per_week":5.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":321729,"other_compensation":27644,"key_employee":true,"name":"Sally Dungan"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":382375,"other_compensation":60952,"key_employee":true,"name":"TRYFAN D EVANS"},{"business_name_line1":"Saheba Sahni","title":"Senior Investment Associate","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":154392,"other_compensation":18985,"highest_compensated_employee":true,"name":"Saheba Sahni"}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"supported_organizations_count":1,"sum_of_amounts":15615921,"other_support_sum":0,"rows":[{"ein":42103634,"organization_type":"2","support_amount":15615921,"other_support_amount":0,"governing_document_listed":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled":false,"contribution_controller":false,"contribution_family":false,"controlled_by_disqualified_person":false,"disqualified_person_controlling_interest":false,"disqualified_person_ownership_interest":false,"excess_business_holdings_rules":false,"listed_by_name_governing_doc":true,"loan_disqualified_person":false,"organization_change_supported_org":false,"payment_substantial_contributor":false,"support_non_supported_org":false,"supported_org_not_organized_us":false,"supported_org_section_c456":false,"supporting_org_no_irs_determination":false,"type1_operate_benefit_non_supported_org":false,"type1_power_appoint_majority":true},"supplemental_information":{"part_vi":[{"form_and_line_reference":"Schedule A, Part I LINE 11(G)(V) - AMOUNT OF MONETARY SUPPORT","explanation":"TRUSTEES OF TUFTS COLLEGE (TUFTS), A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST (THE TRUST), PAID OPERATING COSTS FOR THE TRUST TOTALLING $777,000 FOR THE YEAR-ENDED JUNE 30, 2021. THE TRUST REIMBURSED TUFTS FOR $757,000 OF THESE COSTS. CONSIDERING THE TIMING OF THE YEAR-END THE TRUST HAD UNDERPAID TUFTS $20,000 WHICH IS CURRENTLY REFLECTED AS AN ACCOUNT PAYABLE TO TUFTS. THE OPERATING COSTS INCURRED BY THE TRUST INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO MANAGE THE FUNDS INVESTMENTS. FOR THE YEAR ENDED JUNE 30, 2021 THE TRUST ACCRUED A GRANT PAYABLE TO TUFTS FOR $14,838,921. THE CASH ASSOCIATED WITH THE GRANT WILL BE TRANSFERRED TO TUFTS OVER A 3 YEAR PERIOD. ON OCTOBER 29, 2021 $4,113,978 WAS TRANSFERRED TO TUFTS. THE REMAINING $10,724,943 WILL BE TRANSFERRED TO TUFTS OVER THE NEXT 2 YEARS."}]}},"ScheduleB":{"attached":true,"required":true},"ScheduleD":{"endowment_funds":{"current_year":{"beginning_year_balance":82005163,"contributions":2875911,"investment_earnings_or_losses":30561878,"grants_or_scholarships":14838921,"other_expenditures":782506,"administrative_expenses":101530,"end_year_balance":99719995},"current_year_minus1":{"beginning_year_balance":96113870,"investment_earnings_or_losses":-13272707,"other_expenditures":730334,"administrative_expenses":105666,"end_year_balance":82005163},"current_year_minus2":{"beginning_year_balance":100999048,"investment_earnings_or_losses":-4020441,"other_expenditures":761242,"administrative_expenses":103495,"end_year_balance":96113870},"current_year_minus3":{"beginning_year_balance":103244235,"investment_earnings_or_losses":-1415667,"other_expenditures":736402,"administrative_expenses":93118,"end_year_balance":100999048},"current_year_minus4":{"beginning_year_balance":104851670,"investment_earnings_or_losses":-1021104,"other_expenditures":502149,"administrative_expenses":84182,"end_year_balance":103244235},"board_designated_eoy_percentage":0.0,"permanent_endowment_eoy_percentage":0.0,"term_endowment_eoy_percentage":1.0,"held_by_unrelated_organizations":false,"held_by_related_organizations":false},"securities":{"other_securities":[{"description":"VENTURE CAPITAL","book_value":5146616,"method_of_valuation":"F"},{"description":"FIXED INCOME","book_value":390423,"method_of_valuation":"F"},{"description":"PRIVATE EQUITY","book_value":76415866,"method_of_valuation":"F"},{"description":"PRIVATE REAL ESTATE","book_value":749894,"method_of_valuation":"F"}],"total_book_value":82702799},"other_liabilities":{"total_liability":0,"footnote_text":true},"revenue_reconciliation":{"total_revenue_audited_financial_statements":33437789,"net_unrealized_gains_investments":34651698,"other_revenue":0,"revenue_not_reported":34651698,"revenue_subtotal":-1213909,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":-1213909},"expense_reconciliation":{"total_expenses_audited_financial_statements":15722957,"other_expenses_included":0,"expenses_not_reported":0,"expenses_subtotal":15722957,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":15722957},"supplemental_information":[{"form_and_line_reference":"Schedule D, Part V, Line 4 Intended uses of endowment funds","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST INTENDS TO USE THE ENDOWMENT FUNDS TO ACHIEVE MISSION RELATED ACTIVITIES BY MAKING INVESTMENTS THAT PROMOTE: ECONOMIC INCLUSION, HEALTH & WELLNESS, REAL ESTATE, EDUCATION, ACCESS TO ENERGY AND NATURAL RESOURCES, AND SOCIAL INSTITUTIONS."},{"form_and_line_reference":"Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote","explanation":"The Trust has an exemption from federal and state income tax under Section 501(c)(3) of the Internal Revenue Code and accordingly, no provision for income taxes is included in the financial statements. US GAAP requires the Trust to evaluate tax positions taken by the Trust and recognize a tax liability (or asset) if the Trust has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Trust has analyzed the tax positions taken and has concluded that as of June 30, 2021, there are no significant uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements."}]},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_org_grants":14838921,"reported_domestic_org_grants_program_services":14838921,"total_501c3_and_government_organizations":1,"total_other_organizations":0,"grants":[{"ein":42103634,"irc_section":"501 (c)(3)","cash":14838921,"purpose":"Grant Award","address_line1":"169 Holland Street","address_line2":"Attn Tax Department","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 Holland Street, Attn Tax Department, SOMERVILLE, MA, 02144"}],"total_domestic_grants":14838921,"total_domestic_program_services":14838921,"detail_org_grants_total":14838921,"detail_domestic_grants_total":14838921,"supplemental_information":[{"form_and_line_reference":"Schedule I, Part II, Line 1(d)","explanation":"FOR THE PERIOD ENDED JUNE 30, 2021, THE FUNDS ASSOCIATED WITH THIS GRANT WERE NOT YET PAID OUT TO THE TRUSTEES OF TUFTS COLLEGE. THE $14,838,921 GRANT WAS RECORDED AS AN ACCRUED LIABILITY FOR FINANCIAL STATEMENT PURPOSES. THE CASH ASSOCIATED WITH THE GRANT WILL BE TRANSFERRED TO TUFTS OVER A 3 YEAR PERIOD. ON OCTOBER 29, 2021 $4,113,978 WAS TRANSFERRED TO TUFTS. THE REMAINING $10,724,943 WILL BE TRANSFERRED TO TUFTS OVER THE NEXT 2 YEARS."},{"form_and_line_reference":"Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds.","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP FUND USES MULTIPLE INTERNAL CONTROL PROCEDURES FOR MONITORING THE USE OF U.S. GRANT FUNDS. FOR THE CURRENT YEAR ONE GRANT TOTALING $14,838,921 WAS AWARDED TO THE TRUSTEES OF TUFTS COLLEGE. THE TRUST AWARDS THE UNIVERSITY A GRANT EACH YEAR DEPENDING ON THE PERFORMANCE OF THE TRUST IN ACCORDANCE WITH THE TRUST AGREEMENT AND THE REVISED GRANT DISTRIBUTION GUIDELINES APPROVED BY THE BOARD OF TRUSTEES. ALL GRANTS ARE RECORDED THROUGH THE FINANCIAL SERVICES OFFICE AND ACCOUNTING TRANSACTIONS ARE AUDITED ANNUALLY BY OUTSIDE INDEPENDENT AUDITORS."}],"grant_monitoring":{"claims_monitoring_procedures":true,"requires_financial_reports":true,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":true,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false,"monitoring_description":"FOR THE PERIOD ENDED JUNE 30, 2021, THE FUNDS ASSOCIATED WITH THIS GRANT WERE NOT YET PAID OUT TO THE TRUSTEES OF TUFTS COLLEGE. THE $14,838,921 GRANT WAS RECORDED AS AN ACCRUED LIABILITY FOR FINANCIAL STATEMENT PURPOSES. THE CASH ASSOCIATED WITH THE GRANT WILL BE TRANSFERRED TO TUFTS OVER A 3 YEAR PERIOD. ON OCTOBER 29, 2021 $4,113,978 WAS TRANSFERRED TO TUFTS. THE REMAINING $10,724,943 WILL BE TRANSFERRED TO TUFTS OVER THE NEXT 2 YEARS.\n\nTHE OMIDYAR-TUFTS ACTIVE CITIZENSHIP FUND USES MULTIPLE INTERNAL CONTROL PROCEDURES FOR MONITORING THE USE OF U.S. GRANT FUNDS. FOR THE CURRENT YEAR ONE GRANT TOTALING $14,838,921 WAS AWARDED TO THE TRUSTEES OF TUFTS COLLEGE. THE TRUST AWARDS THE UNIVERSITY A GRANT EACH YEAR DEPENDING ON THE PERFORMANCE OF THE TRUST IN ACCORDANCE WITH THE TRUST AGREEMENT AND THE REVISED GRANT DISTRIBUTION GUIDELINES APPROVED BY THE BOARD OF TRUSTEES. ALL GRANTS ARE RECORDED THROUGH THE FINANCIAL SERVICES OFFICE AND ACCOUNTING TRANSACTIONS ARE AUDITED ANNUALLY BY OUTSIDE INDEPENDENT AUDITORS.","form_and_line_reference":"Schedule I, Part II, Line 1(d); Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds."}},"ScheduleF":{"regions":[{"region":"Central America and the Caribbean","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":16495000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":20576000,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":1975000,"employees":0,"offices":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":4078000,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":43124000,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":43124000,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":0},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false}},"ScheduleJ":{"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":false,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":840185,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":35865,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":128151,"other_compensation_filing_org":0,"other_compensation_related_orgs":164401,"total_compensation_filing_org":0,"total_compensation_related_orgs":1168602,"name":"Anthony P Monaco"},{"business_name_line1":"Sally Dungan","title":"SEE SCHEDULE O","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":147688,"compensation_based_on_related_orgs":136619,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":19015,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":8629,"other_compensation_filing_org":0,"other_compensation_related_orgs":37422,"total_compensation_filing_org":0,"total_compensation_related_orgs":349373,"name":"Sally Dungan"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":97351,"compensation_based_on_related_orgs":284375,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":82362,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":60772,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":180,"other_compensation_filing_org":0,"other_compensation_related_orgs":649,"total_compensation_filing_org":0,"total_compensation_related_orgs":443327,"name":"TRYFAN D EVANS"},{"business_name_line1":"Craig W Smith","title":"SEE SCHEDULE O","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":49657,"compensation_based_on_related_orgs":283771,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":23833,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":60865,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":37263,"other_compensation_filing_org":0,"other_compensation_related_orgs":2804,"total_compensation_filing_org":0,"total_compensation_related_orgs":434360,"name":"Craig W Smith"},{"business_name_line1":"Saheba Sahni","title":"Senior Investment Associate","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":19300,"compensation_based_on_related_orgs":135000,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":8521,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":18900,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":85,"other_compensation_filing_org":0,"other_compensation_related_orgs":92,"total_compensation_filing_org":0,"total_compensation_related_orgs":173377,"name":"Saheba Sahni"}],"supplemental_information":[{"form_and_line_reference":"Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 80% OF HIS BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINE 7. CRAIG W. SMITH , CHIEF INVESTMENT OFFICER - START DATE 4/16/2021, OF THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 100% OF HIS BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINE 7. SALLY DUNGAN, CHIEF INVESTMENT OFFICER - END DATE 4/12/2020, OF THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST, WAS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATED IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 100% OF HER BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINE 7. SAHEBA SAHNI, SENIOR INVESTMENT ASSOCIATE OF THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 30% OF HER BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINE 7."},{"form_and_line_reference":"Schedule J, Part I, Line 7 Non-fixed payments","explanation":"THE Four INVESTMENT OFFICERS ARE EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE AND PARTICIPATED IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS FOR INDIVIDUAL JOB PERFORMANCE AND FOR ACHIEVING CERTAIN GOALS AND OBJECTIVES. THESE AMOUNTS ARE A COMPONENT OF THE TOTAL REPORTABLE AMOUNTS AS EXPLAINED ON SCHEDULE J, LINE 4(B) AND ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II)"},{"form_and_line_reference":"Schedule J, Part III SCH J, PART II","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST (THE TRUST) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR THE TRUST INCENTIVE PLANS."}]},"ScheduleM":{"policies":{"any_property_that_must_be_held":false,"forms_8283_received":0,"review_process_unusual_noncash_gifts":true,"third_parties_used":false},"noncash_contributions":{"securities_partnership_trust_interests":{"reported":true,"revenue_reported_on_990":2875911,"contribution_count":3,"method_of_determining_revenues":"Market value"}},"supplemental_information":[{"form_and_line_reference":"Schedule M, Part I NON-CASH CONTRIBUTIONS","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST IS REPORTING THE NUMBER OF NON-CASH FISCAL YEAR CONTRIBUTIONS BASED ON EACH GIFT RECEIVED."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities_text":"EDUCATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"2","controlled_organization_indicator":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":43419100,"business_name_line1":"WALNUT HILL PROPERTIES CORP","primary_activities_text":"REAL ESTATE MANAGEMENT","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"47 Winthrop St","city":"MEDFORD","state":"MA","zip":"02155","name":"WALNUT HILL PROPERTIES CORP","address":"47 Winthrop St, MEDFORD, MA, 02155"},{"ein":237000827,"business_name_line1":"TUFTS SHARED SERVICES INC","primary_activities_text":"COORDINATE HEALTH & EDUCATIONAL SERVICES","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"171 HARRISON AVE PO BOX 634","city":"BOSTON","state":"MA","zip":"02111","name":"TUFTS SHARED SERVICES INC","address":"171 HARRISON AVE PO BOX 634, BOSTON, MA, 02111"},{"ein":43430674,"business_name_line1":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","primary_activities_text":"VETERINARY EMERGENCY TREATMENT & CARE","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"200 WESTBOROUGH ROAD","city":"NORTH GRAFTON","state":"MA","zip":"02158","name":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","address":"200 WESTBOROUGH ROAD, NORTH GRAFTON, MA, 02158"},{"ein":43236078,"business_name_line1":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","primary_activities_text":"VEBA","exempt_code_section_text":"501(c)(9)","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":474543971,"business_name_line1":"TUFTS GLOBAL INC","primary_activities_text":"FOREIGN OPERATIONS SUPPORT ORGANIZATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS GLOBAL INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":46111643,"business_name_line1":"CIVIC EDUCATION FOUNDATION","primary_activities_text":"RAISE CIVIC AWARENESS","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","address_line2":"ATTN TAX DEPT","city":"SOMERVILLE","state":"MA","zip":"02144","name":"CIVIC EDUCATION FOUNDATION","address":"169 HOLLAND STREET, ATTN TAX DEPT, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"ein":43184043,"business_name_line1":"JM HOLDINGS INC","primary_activity":"REAL ESTATE DEVELOPMENT","ownership_percentage":1.0,"share_of_total_income":-806,"share_of_end_of_year_assets":34791,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"JM HOLDINGS INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"business_name_line1":"PERPETUAL TRUSTS - 8","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"PERPETUAL TRUSTS - 8"},{"business_name_line1":"CHARITABLE REMAINDER UNITRUSTS - 25","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE REMAINDER UNITRUSTS - 25"},{"business_name_line1":"CHARITABLE LEAD TRUSTS - 3","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE LEAD TRUSTS - 3"},{"ein":516581922,"business_name_line1":"TUFTS UNIVERSITY CHARITABLE TRUST","primary_activity":"SUPPORT","ownership_percentage":1.0,"share_of_total_income":45976,"share_of_end_of_year_assets":278634,"legal_domicile_foreign_country":"HK","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"C/O TRUSTEES OF TUFTS COLLEGE","address_line2":"169 HOLLAND STREET ATTN TAX DEPT","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"Trust","controlled_organization_indicator":true,"name":"TUFTS UNIVERSITY CHARITABLE TRUST","address":"C/O TRUSTEES OF TUFTS COLLEGE, 169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144"},{"ein":475489178,"business_name_line1":"BRAINGATE INC","primary_activity":"PATENT HOLDINGS","ownership_percentage":1.0,"share_of_total_income":32247,"share_of_end_of_year_assets":102637,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"BRAINGATE INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":true,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":true,"other_transfer_to_other_org":false},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":777000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"M","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":757000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":14838921,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"B","name":"TRUSTEES OF TUFTS COLLEGE"}],"supplemental_information":[{"form_and_line_reference":"Schedule R, Part IV, Column (a) TRUSTS","explanation":"THE PERPETUAL and CHARITABLE REMAINDER TRUSTS, and Charitable Lead Trusts ARE DOMICILED IN FLORIDA AND MASSACHUSETTS"}]},"source_xml":"202211329349304516_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and relief of the poor through microfinance investments.","primary_activities":"Microfinance investments - the fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, savings, insurance, remittances and payment services, to poor and low-income households and to micro-enterprises. All capital assets of the fund will be used exclusively for one or both of the following purposes: (i) direct investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro-enterprises.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the Trustees of Tufts College, by engaging in two activities: promoting the relief of the poor and distressed through microfinance investments, and promoting education through grants. During the year ended June 30, 2019, the Omidyar-Tufts Microfinance Fund disbursed close to $4 million in microfinance investments. At June 30, 2019 the fund had made 18 investments and $163 million in commitments since inception. To date, the fund has provided investment capital for microfinance in Latin America, Africa, Eastern and Central Europe and Central Asia. The fund currently has investments in 49 countries. Microfinance Investments The Fund's governing document defines \"microfinance\" as the delivery of financial services, such as credit, equity savings, insurance, remittances and payment services, that economically empower and benefit the poor, low-income households, and micro and small enterprises. All capital assets of the Fund will be used exclusively for one or both of the following purposes: (i) investment in microfinance-related ventures, and (ii) the credit enhancement of microfinance-related ventures, such as by providing loan guarantees. These microfinance investments are intended to benefit poor and low-income individuals, both as members of households and as owners of micro and small enterprises. Poor and Low-Income Households The vast majority of the world's poorest people lack access to even the most basic financial services. The poor are shut out of the system for two primary reasons. First, traditional banking systems require borrowers to have property - to use financial terms, \"collateral\" - in order to receive a loan, and the extremely poor have no such collateral. Second, traditional banks believe it is difficult to make a commercially reasonable rate of return on small loans of the type sought by people who are extremely poor (usually between $50 and $150) because the interest benefits do not exceed the transaction costs. Without access to such services, the world's poorest people are unable to break out of the cycle of poverty that keeps them trapped at subsistence standards of living. They lack the ability to borrow and save, and without insurance, their livelihoods are always in danger of being wiped out by natural or other disasters. Microfinance programs address these problems. They have helped millions of people in developing countries raise their standards of living and protect themselves from crippling economic setbacks. Microfinance products such as savings accounts, microcredit loans of small amounts, and affordable health insurance empower the poor to lift themselves out of poverty by enabling them to secure better nutrition, education, healthcare and housing for their families. Microfinance institutions (\"MFIs\") differ from traditional banks in several significant ways. First, for example, rather than solely focusing on individual borrowers and individual collateral, MFIs sometimes lend to groups of borrowers, relying on social capital to ensure loan repayment. Another significant difference between MFIs and traditional banks is that the loan cycles offered by MFIs are usually shorter than traditional commercial loans - typically six months to a year, with payments plus interest due weekly or monthly. The transaction-intense nature of weekly payment collections, often in rural areas, is more expensive than running a bank branch that provides large loans to economically secure borrowers in metropolitan areas. As a result, MFIs must charge interest rates that may seem high - often 30 percent to 70 percent annually - in order to cover their costs. However, these interest rates are significantly lower than the market rates for the only other credit that is available to very poor borrowers - namely, the 300 percent to 3,000 percent annual rates charged by local money lenders. Finally, MFIs generally focus their efforts on women, who have a higher unemployment rate than men in most countries and who make up the majority of the informal sector of most economies. Because women are usually primary or sole family caretakers in many developing countries and tend to put the needs of children first, putting extra income in women's hands is often the most efficient way to increase the standard of living of an entire family. Many studies of microcredit recipients have shown that women invest their savings in their children's education, which in turn enables the children to escape the cycle of poverty and bring extra income into the family. Providing microcredit loans to women, therefore, tends to create a multiplier effect that increases the impact of an MFI's activities, benefiting multiple generations. Studies have shown that MFIs and microfinance opportunities have dramatically relieved the plight of the poor and distressed. MFIs serve more than 120 million poor people in developing countries with over $112 billion in outstanding microcredit loans. Micro-enterprises The Fund will also support MFIs that work with micro and small enterprises via microfinance investments. Micro and small enterprises are businesses with typically fewer than 100 employees, including unpaid family members. Often micro-enterprises involve only one person, the owner-operator. Other defining characteristics are a low level of assets and low income of the owner. Micro-enterprises exist on the fringe of most formal economies and often arise when formal unemployment rises or when economic hardship strikes. Typical micro-enterprise activities are food processing, handicraft production, repair services, dressmaking, food vending and trading. These types of activities often provide the only opportunities for the poorest members of a community to increase their standard of living. Supporting such endeavors contributes greatly to the advancement of society and the relief of extreme poverty by enabling the world's poorest people to engage with dignity in small-scale grassroots businesses endeavors that would otherwise fail to attract the small amounts of seed capital necessary to their success. Micro-enterprises expand the opportunities for the poor to become self-sufficient and protect themselves in times of crisis. Micro-enterprises generally serve only members of the immediate community, becoming stabilizing forces in otherwise unstable communities. They thus contribute to the economic and social well-being of the entire community, not just the direct participants.","year":2018,"name":"THE OMIDYAR-TUFTS MICROFINANCE FUND","phone":"6176272144","type":"990","foreign_countries":["Afghanistan","Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Bangladesh","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bhutan","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","India","Iran","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Maldives","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Nepal","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Pakistan","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sri Lanka","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","total_volunteers":0,"tax_period_begin":"2018-07-01T00:00:00","tax_period_end":"2019-06-30T00:00:00","address":"169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":false,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":true,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements consolidated and separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":3816035,"Contributions":{"value":0},"Program revenue":{"value":0,"Total other revenue":0},"Investment income":{"value":3816035,"Investment income total":1062608,"Net investment gain":2753427},"Other revenues":{"value":0,"Other total":0}},"Expenses":{"value":864737,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":693946,"Current officers":470207,"Other salaries and wages":136636,"Payroll taxes":87103},"Other expenses":{"value":170791,"Legal":33930,"Accounting":34100,"Investment management fees":40861,"Other services":9181,"Office expenses":3730,"Travel":37593,"Itemized Expenses":{"value":11396,"DUES AND MEMBERSHIPS":9397,"TRAINING AND WORKSHOPS":1999},"All other expenses":0},"Functional Expenses":{"Program Service Expenses":761242,"Management And General Expenses":103495,"Fundraising Expenses":0}},"Assets":{"value":96402572,"Savings and temp cash investments":8416943,"Receivables from officers":0,"Receivables from disqual persons":0,"Land, building, equipment":0,"Investments publicly traded":23665057,"Investments other":63514714,"Other assets":805858},"Liabilities":{"value":288702,"Accounts payable, accrued":288702,"Loans from officers, directors":0,"Other liabilities":0},"Fund balance":{"value":96113870,"Temporarily restricted net assets":96113870},"Form990Details":{"program_service_accomplishments":[{"description":"MICROFINANCE INVESTMENTS - THE FUND'S GOVERNING DOCUMENT DEFINES \"MICROFINANCE\" AS THE DELIVERY OF FINANCIAL SERVICES, SUCH AS CREDIT, SAVINGS, INSURANCE, REMITTANCES AND PAYMENT SERVICES, TO POOR AND LOW-INCOME HOUSEHOLDS AND TO MICRO-ENTERPRISES. ALL CAPITAL ASSETS OF THE FUND WILL BE USED EXCLUSIVELY FOR ONE OR BOTH OF THE FOLLOWING PURPOSES: (I) DIRECT INVESTMENT IN MICROFINANCE-RELATED VENTURES, AND (II) THE CREDIT ENHANCEMENT OF MICROFINANCE-RELATED VENTURES, SUCH AS BY PROVIDING LOAN GUARANTEES. THESE MICROFINANCE INVESTMENTS ARE INTENDED TO BENEFIT POOR AND LOW-INCOME INDIVIDUALS, BOTH AS MEMBERS OF HOUSEHOLDS AND AS OWNERS OF MICRO-ENTERPRISES.","expense":761242,"revenue":3816035}],"functional_expense_allocations":{"current_officers_directors":{"program_services":423186,"management_and_general":47021,"total":470207},"other_salaries_and_wages":{"program_services":122972,"management_and_general":13664,"total":136636},"payroll_taxes":{"program_services":78393,"management_and_general":8710,"total":87103},"legal_fees":{"program_services":33930,"total":33930},"accounting_fees":{"management_and_general":34100,"total":34100},"investment_management_fees":{"program_services":40861,"total":40861},"other_service_fees":{"program_services":9181,"management_and_general":0,"fundraising":0,"total":9181},"office_expenses":{"program_services":3730,"total":3730},"travel":{"program_services":37593,"total":37593},"all_other_expenses":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":true,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_v":true,"schedule_o_part_vi":true},"principal_officer_detail":{"business_name_line1":"Anthony P Monaco"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false},"books_in_care_of_detail":{"phone":"6176272144","business_name_line1":"Edward Mahoney Associate Controller","address_line1":"169 Holland Street","city":"Somerville","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":60.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":1033185,"other_compensation":180915,"individual_trustee_or_director":true,"name":"Anthony P Monaco"},{"business_name_line1":"Jeffrey M Moslow","title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"average_hours_per_week_related_org":3.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"Jeffrey M Moslow"},{"business_name_line1":"PIERRE M OMIDYAR","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"PIERRE M OMIDYAR"},{"business_name_line1":"ROBINSON JACOBS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"ROBINSON JACOBS"},{"business_name_line1":"THOMAS L PAPPAS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"THOMAS L PAPPAS"},{"business_name_line1":"Sally Dungan","title":"CHIEF INVESTMENT OFFICER","average_hours_per_week":5.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":679756,"other_compensation":187451,"key_employee":true,"name":"Sally Dungan"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":432783,"other_compensation":126993,"key_employee":true,"name":"TRYFAN D EVANS"},{"business_name_line1":"Saheba Sahni","title":"Senior Investment Associate","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":127214,"other_compensation":6133,"highest_compensated_employee":true,"name":"Saheba Sahni"}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"supported_organizations_count":1,"sum_of_amounts":696774,"other_support_sum":0,"rows":[{"ein":42103634,"organization_type":"2","support_amount":696774,"other_support_amount":0,"governing_document_listed":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled":false,"contribution_controller":false,"contribution_family":false,"controlled_by_disqualified_person":false,"disqualified_person_controlling_interest":false,"disqualified_person_ownership_interest":false,"excess_business_holdings_rules":false,"listed_by_name_governing_doc":true,"loan_disqualified_person":false,"organization_change_supported_org":false,"payment_substantial_contributor":false,"support_non_supported_org":false,"supported_org_not_organized_us":false,"supported_org_section_c456":false,"supporting_org_no_irs_determination":false,"type1_operate_benefit_non_supported_org":false,"type1_power_appoint_majority":true},"supplemental_information":{"part_vi":[{"form_and_line_reference":"Schedule A, Part I LINE 11(G)(V) - AMOUNT OF MONETARY SUPPORT","explanation":"TRUSTEES OF TUFTS COLLEGE (TUFTS), A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS MICROFINANCE FUND (THE FUND), PAID OPERATING COSTS FOR THE FUND TOTALLING $772,377 FOR THE YEAR-ENDED JUNE 30, 2019. THE FUND REIMBURSED TUFTS FOR $696,774 OF THESE COSTS. CONSIDERING THE TIMING OF THE YEAR-END THE FUND HAD UNDERPAID TUFTS $75,603 WHICH IS CURRENTLY REFLECTED AS AN ACCOUNT PAYABLE TO TUFTS. THE OPERATING COSTS INCURRED BY THE FUND INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO MANAGE THE FUNDS INVESTMENTS."}]}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"endowment_funds":{"current_year":{"beginning_year_balance":100999048,"investment_earnings_or_losses":-4020441,"other_expenditures":761242,"administrative_expenses":103495,"end_year_balance":96113870},"current_year_minus1":{"beginning_year_balance":103244235,"investment_earnings_or_losses":-1415667,"other_expenditures":736402,"administrative_expenses":93118,"end_year_balance":100999048},"current_year_minus2":{"beginning_year_balance":104851670,"investment_earnings_or_losses":-1021104,"other_expenditures":502149,"administrative_expenses":84182,"end_year_balance":103244235},"current_year_minus3":{"beginning_year_balance":111101249,"investment_earnings_or_losses":-5743995,"other_expenditures":430922,"administrative_expenses":74662,"end_year_balance":104851670},"current_year_minus4":{"beginning_year_balance":112739798,"investment_earnings_or_losses":-1136478,"other_expenditures":428031,"administrative_expenses":74040,"end_year_balance":111101249},"board_designated_eoy_percentage":0.0,"permanent_endowment_eoy_percentage":0.0,"term_endowment_eoy_percentage":1.0,"held_by_unrelated_organizations":false,"held_by_related_organizations":false},"securities":{"closely_held_equity_interests":{"book_value":3507791},"other_securities":[{"description":"VENTURE CAPITAL","book_value":36585132},{"description":"FIXED INCOME","book_value":18668525},{"description":"PRIVATE EQUITY INVESTMENTS","book_value":4753266},{"description":"EQUITY INVESTMENTS","book_value":0}],"total_book_value":63514714},"other_liabilities":{"total_liability":0,"footnote_text":true},"revenue_reconciliation":{"total_revenue_audited_financial_statements":-4020441,"net_unrealized_gains_investments":-7836476,"other_revenue":0,"revenue_not_reported":-7836476,"revenue_subtotal":3816035,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":3816035},"expense_reconciliation":{"total_expenses_audited_financial_statements":864737,"other_expenses_included":0,"expenses_not_reported":0,"expenses_subtotal":864737,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":864737},"supplemental_information":[{"form_and_line_reference":"Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote","explanation":"US GAAP REQUIRES THE OMIDYAR-TUFTS MICROFINANCE FUND (THE FUND) TO EVALUATE TAX POSITIONS TAKEN BY THE FUND AND RECOGNIZE A TAX LIABILITY(OR ASSET) IF THE FUND HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE FUND HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2019, THERE ARE NO SIGNIFICANT UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS."}]},"ScheduleF":{"regions":[{"region":"Central America and the Caribbean","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":22901000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":21592000,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":8663000,"employees":0,"offices":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":4048000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":13552,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":8903,"employees":0,"offices":0},{"region":"South Asia","activity_type":"Program Services","services":"DELIVERY OF MICROFINANCE PROGRAMS & SERVICES","total_expenditures":6000,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":57232455,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":57232455,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":0},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false}},"ScheduleJ":{"benefits_and_procedures":{"first_class_or_charter_travel":true,"substantiation_required":true,"written_policy_travel_and_entertainment":true},"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":false,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":879680,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":53330,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":127585,"other_compensation_filing_org":0,"other_compensation_related_orgs":153505,"total_compensation_filing_org":0,"total_compensation_related_orgs":1214100,"name":"Anthony P Monaco"},{"business_name_line1":"Sally Dungan","title":"CHIEF INVESTMENT OFFICER","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":236745,"compensation_based_on_related_orgs":416900,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":97455,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":160803,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":26648,"other_compensation_filing_org":0,"other_compensation_related_orgs":26111,"total_compensation_filing_org":0,"total_compensation_related_orgs":867207,"name":"Sally Dungan"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":162658,"compensation_based_on_related_orgs":251220,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":75708,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":121828,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":5165,"other_compensation_filing_org":0,"other_compensation_related_orgs":18905,"total_compensation_filing_org":0,"total_compensation_related_orgs":559776,"name":"TRYFAN D EVANS"}],"supplemental_information":[{"form_and_line_reference":"Schedule J, Part III SCH J, PART II","explanation":"THE OMIDYAR-TUFTS MICROFINANCE FUND (OTMF) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR OTMF INCENTIVE PLANS."},{"form_and_line_reference":"Schedule J, Part I, Line 1a First-class or charter travel","explanation":"THE DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND AND OTHER STAFF WHO WORK ON THE FUNDS' INVESTMENTS TRAVEL ABROAD PERIODICALLY FOR MISSION RELATED PURPOSES. THE AIRLINE ACCOMMODATIONS MAY INCLUDE FIRST-CLASS SEATING WHEN THE TRAVEL IS FOR A PERIOD OF EIGHT HOURS OR MORE. DURING THE CURRENT FISCAL YEAR, ONE TRUSTEE TRAVELLED USING SUCH AIRLINE ACCOMODATIONS. THE VALUE OF WHICH WAS NOT INCLUDED IN TAXABLE COMPENSATION AS IT WAS A BUSINESS EXPENSE."},{"form_and_line_reference":"Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan","explanation":"TRYFAN EVANS, DIRECTOR OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. HE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 80% OF HIS BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINE 7. SALLY DUNGAN, CHIEF INVESTMENT OFFICER OF THE OMIDYAR-TUFTS MICROFINANCE FUND, IS AN EMPLOYEE OF TRUSTEES OF TUFTS COLLEGE. SHE PARTICIPATES IN AN INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE AND ALLOWS FOR UP TO 100% OF HER BASE SALARY EARNINGS. THE INCENTIVE PAYOUT VESTING SCHEDULE IS OVER THREE YEARS AND ALLOWS FOR 50% IN YEAR ONE AND 25% FOR THE REMAINING TWO YEARS. PAYMENTS ARE MADE IN THE QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND AMOUNTS PAID ARE DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINE 7."},{"form_and_line_reference":"Schedule J, Part I, Line 7 Non-fixed payments","explanation":"THE TWO INVESTMENT OFFICERS ARE EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE AND PARTICIPATED IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS FOR INDIVIDUAL JOB PERFORMANCE AND FOR ACHIEVING CERTAIN GOALS AND OBJECTIVES. THESE AMOUNTS ARE A COMPONENT OF THE TOTAL REPORTABLE AMOUNTS AS EXPLAINED ON SCHEDULE J, LINE 4(B) AND ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II)."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities_text":"EDUCATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"2","controlled_organization_indicator":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":43419100,"business_name_line1":"WALNUT HILL PROPERTIES CORP","primary_activities_text":"REAL ESTATE MANAGEMENT","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"47 Winthrop St","city":"MEDFORD","state":"MA","zip":"02155","name":"WALNUT HILL PROPERTIES CORP","address":"47 Winthrop St, MEDFORD, MA, 02155"},{"ein":237000827,"business_name_line1":"TUFTS SHARED SERVICES INC","primary_activities_text":"COORDINATE HEALTH & EDUCATIONAL SERVICES","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"171 HARRISON AVE PO BOX 634","city":"BOSTON","state":"MA","zip":"02111","name":"TUFTS SHARED SERVICES INC","address":"171 HARRISON AVE PO BOX 634, BOSTON, MA, 02111"},{"ein":43430674,"business_name_line1":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","primary_activities_text":"VETERINARY EMERGENCY TREATMENT & CARE","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"200 WESTBOROUGH ROAD","city":"NORTH GRAFTON","state":"MA","zip":"02158","name":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","address":"200 WESTBOROUGH ROAD, NORTH GRAFTON, MA, 02158"},{"ein":43236078,"business_name_line1":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","primary_activities_text":"VEBA","exempt_code_section_text":"501(c)(9)","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":474543971,"business_name_line1":"TUFTS GLOBAL INC","primary_activities_text":"FOREIGN OPERATIONS SUPPORT ORGANIZATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS GLOBAL INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":46111643,"business_name_line1":"CIVIC EDUCATION FOUNDATION","primary_activities_text":"RAISE CIVIC AWARENESS","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","address_line2":"ATTN TAX DEPT","city":"SOMERVILLE","state":"MA","zip":"02144","name":"CIVIC EDUCATION FOUNDATION","address":"169 HOLLAND STREET, ATTN TAX DEPT, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"ein":43184043,"business_name_line1":"JM HOLDINGS INC","primary_activity":"REAL ESTATE DEVELOPMENT","ownership_percentage":1.0,"share_of_total_income":-6214,"share_of_end_of_year_assets":39428,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"JM HOLDINGS INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"business_name_line1":"PERPETUAL TRUSTS - 8","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"PERPETUAL TRUSTS - 8"},{"business_name_line1":"CHARITABLE REMAINDER UNITRUSTS - 28","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE REMAINDER UNITRUSTS - 28"},{"business_name_line1":"CHARITABLE LEAD TRUSTS - 5","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE LEAD TRUSTS - 5"},{"ein":516581922,"business_name_line1":"TUFTS UNIVERSITY CHARITABLE TRUST","primary_activity":"SUPPORT","ownership_percentage":1.0,"share_of_total_income":45994,"share_of_end_of_year_assets":196658,"legal_domicile_foreign_country":"HK","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"C/O TRUSTEES OF TUFTS COLLEGE","address_line2":"169 HOLLAND STREET ATTN TAX DEPT","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"Trust","controlled_organization_indicator":true,"name":"TUFTS UNIVERSITY CHARITABLE TRUST","address":"C/O TRUSTEES OF TUFTS COLLEGE, 169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":true,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":true,"other_transfer_from_other_org":true,"other_transfer_to_other_org":false},"transactions":[{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","amount_involved":137531,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"A","name":"VEHICULOS LIQUIDOS FINANCIEROS"},{"business_name_line1":"VEHICULOS LIQUIDOS FINANCIEROS","amount_involved":2253971,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"S","name":"VEHICULOS LIQUIDOS FINANCIEROS"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":75603,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"M","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":696774,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"}],"supplemental_information":[{"form_and_line_reference":"Schedule R, Part IV, Column (a) TRUSTS","explanation":"THE PERPETUAL and CHARITABLE REMAINDER TRUSTS, and Charitable Lead Trusts ARE DOMICILED IN FLORIDA, INDIANA, MASSACHUSETTS, AND NEW JERSEY."},{"form_and_line_reference":"Schedule R, Part V Lines 1A, 1D, and 1S -Loans to related organization","explanation":"On November 23, 2016, The Omidyar-Tufts Microfinance Fund (OTMF) entered into a loan agreement with Vehiculos Liquidos Financieros (Velifin) who is also a related party, for $2,000,000 with maturity date on November 23, 2018. Such loan bears interest at a fixed annual interest rate of 12.45%, payable on a monthly basis. The outstanding balance of $2,253,971 was paid off in its entirety."}]},"source_xml":"202041959349301969_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and making positive societal changes through investments.","primary_activities":"Making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the Trustees of Tufts College, by making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change. During the year ended June 30, 2022, the Omidyar-Tufts Active Citizenship Trust disbursed $12.2 million in investments. At June 30, 2022 the fund had made 40 investments and $207 million in investment commitments since inception. To date, the fund has provided investment capital in North America, Latin America, Africa, Europe and Central Asia. The fund currently has investments in 45 countries. The sectors in which the Trust invests are currently as follows: (a) Economic Inclusion: including, but not limited to, financial inclusion (microfinance, microinsurance, payments & remittances, etc.), enabling small- and medium-sized enterprises, community development, entrepreneurial ecosystems, and economic resilience; (b) Health & Wellness: including, but not limited to, healthcare services & delivery, drug development and biotechnology, wellness & healthy lifestyles, and addressing environmental & social determinants of health; (c) Real Estate: including, but not limited to, affordable housing, workforce housing, and community institutions (e.g., schools; medical facilities); (d) Education: including, but not limited to, early childhood & k-12 education, workforce training, education technology, educator training, student finance, and personalized & adaptive learning; (e) Access to Energy & Natural Resources: including, but not limited to, clean water & water rights, distributed power generation and grid and off-grid energy access. (f) Social Institutions: including, but not limited to, internet privacy & digital rights, technology that increases accountability and transparency, and tools that enable and empower civic engagement.","year":2021,"name":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST","phone":"6176272144","type":"990","foreign_countries":["Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","tax_period_begin":"2021-07-01T00:00:00","tax_period_end":"2022-06-30T00:00:00","address":"169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144, USA","city":"SOMERVILLE","state":"MA","country":"USA","zip_code":"02144"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":false,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements consolidated and separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":-3219310,"Contributions":{"value":1547580,"Other contributions":1547580},"Program revenue":{"value":0,"Total other revenue":0},"Investment income":{"value":-4766890,"Investment income total":573495,"Net investment gain":-5340385},"Other revenues":{"value":0,"Other total":0}},"Expenses":{"value":2675626,"Grant expense":{"value":1181588,"Grants to domestic orgs":1181588},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":842512,"Current officers":530513,"Other salaries and wages":194569,"Payroll taxes":117430},"Other expenses":{"value":651526,"Legal":75208,"Accounting":37200,"Investment management fees":75296,"Other services":18922,"Office expenses":1454,"Travel":8013,"Interest":435433,"All other expenses":0},"Functional Expenses":{"Program Service Expenses":2554175,"Management And General Expenses":121451,"Fundraising Expenses":0}},"Assets":{"value":114612131,"Savings and temp cash investments":5761702,"Receivables from officers":0,"Receivables from disqual persons":0,"Land, building, equipment":0,"Investments publicly traded":3870365,"Investments other":104052881,"Other assets":927183},"Liabilities":{"value":12598402,"Accounts payable, accrued":256438,"Grants payable":11906531,"Loans from officers, directors":0,"Other liabilities":435433},"Fund balance":{"value":102013729,"Net assets with donor restriction":102013729},"Form990Details":{"program_service_accomplishments":[{"description":"Making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change.","expense":2554175,"grants":1181588,"revenue":-3219310}],"functional_expense_allocations":{"current_officers_directors":{"program_services":477462,"management_and_general":53051,"total":530513},"other_salaries_and_wages":{"program_services":175112,"management_and_general":19457,"total":194569},"payroll_taxes":{"program_services":105687,"management_and_general":11743,"total":117430},"legal_fees":{"program_services":75208,"total":75208},"accounting_fees":{"management_and_general":37200,"total":37200},"investment_management_fees":{"program_services":75296,"total":75296},"other_service_fees":{"program_services":18922,"management_and_general":0,"fundraising":0,"total":18922},"office_expenses":{"program_services":1454,"total":1454},"travel":{"program_services":8013,"total":8013},"interest":{"program_services":435433,"total":435433},"all_other_expenses":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":true,"deductible_contributions_of_art":false,"donor_restricted_or_quasi_endowments":true,"method_of_accounting_accrual":true,"schedule_o_part_v":true,"schedule_o_part_vi":true},"principal_officer_detail":{"business_name_line1":"Anthony P Monaco"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"business_relationship_with_35_controlled_entity":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":true,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":14838921,"grants_payable_end_of_year":11906531},"books_in_care_of_detail":{"phone":"6176273816","business_name_line1":"Jonathan Pearsall Exec Director & University Controller","address_line1":"169 Holland Street","city":"Somerville","state":"MA","zip":"02144"},"officers_directors_key_employees":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":60.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":1027786,"other_compensation":180961,"individual_trustee_or_director":true,"name":"Anthony P Monaco"},{"business_name_line1":"Jeffrey M Moslow","title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"average_hours_per_week_related_org":3.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"Jeffrey M Moslow"},{"business_name_line1":"PIERRE M OMIDYAR","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"PIERRE M OMIDYAR"},{"business_name_line1":"ROBINSON JACOBS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"ROBINSON JACOBS"},{"business_name_line1":"THOMAS L PAPPAS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"THOMAS L PAPPAS"},{"business_name_line1":"Craig W Smith","title":"Chief Investment Officer","average_hours_per_week":5.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":562068,"other_compensation":156311,"key_employee":true,"name":"Craig W Smith"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":488597,"other_compensation":132487,"key_employee":true,"name":"TRYFAN D EVANS"},{"business_name_line1":"Saheba Sahni","title":"Investment Officer","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":179196,"other_compensation":25005,"highest_compensated_employee":true,"name":"Saheba Sahni"}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"supported_organizations_count":1,"sum_of_amounts":2604021,"other_support_sum":0,"rows":[{"ein":42103634,"organization_type":"2","support_amount":2604021,"other_support_amount":0,"governing_document_listed":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled":false,"contribution_controller":false,"contribution_family":false,"controlled_by_disqualified_person":false,"disqualified_person_controlling_interest":false,"disqualified_person_ownership_interest":false,"excess_business_holdings_rules":false,"listed_by_name_governing_doc":true,"loan_disqualified_person":false,"organization_change_supported_org":false,"payment_substantial_contributor":false,"support_non_supported_org":false,"supported_org_not_organized_us":false,"supported_org_section_c456":false,"supporting_org_no_irs_determination":false,"type1_operate_benefit_non_supported_org":false,"type1_power_appoint_majority":true},"supplemental_information":{"part_vi":[{"form_and_line_reference":"Schedule A, Part I LINE 11(G)(V) - AMOUNT OF MONETARY SUPPORT","explanation":"TRUSTEES OF TUFTS COLLEGE (TUFTS), A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST (THE TRUST), PAID OPERATING COSTS FOR THE TRUST TOTALING $987,000 FOR THE YEAR-ENDED JUNE 30, 2022. THE TRUST REIMBURSED TUFTS FOR $971,000 OF THESE COSTS. CONSIDERING THE TIMING OF THE YEAR-END THE TRUST HAD UNDERPAID TUFTS APPROXIMATELY $16,000 WHICH IS CURRENTLY REFLECTED AS AN ACCOUNT PAYABLE TO TUFTS. THE OPERATING COSTS INCURRED BY THE TRUST INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO MANAGE THE TRUST'S INVESTMENTS. FOR THE YEAR ENDED JUNE 30, 2022, THE TRUST accrued AN ADDITIONAL $1,181,588 GRANT TO TUFTS AND had AN OUTSTANDING GRANT PAYABLE TO TUFTS FOR $11,906,531. THE CASH ASSOCIATED WITH THE GRANT WILL BE TRANSFERRED TO TUFTS BASED ON THE TRUST'S GRANT DISTRIBUTION GUIDELINES. FOR THE YEAR ENDED 6/30/22 $4,986,000 WILL BE TRANSFERRED TO TUFTS OVER A SHORT-TERM BASIS AND THE REMAINING $6,920,531 WILL BE TRANSFERRED TO TUFTS OVER A LONG-TERM BASIS. THE TRUST PAYS INTEREST TO THE UNIVERSITY ON THE NON-CURRENT GRANTS PAYABLE AMOUNT. INTEREST PAYABLE AMOUNTED TO $435,433 AT JUNE 30, 2022."}]}},"ScheduleB":{"attached":true,"required":true},"ScheduleD":{"endowment_funds":{"current_year":{"beginning_year_balance":99719995,"contributions":1547580,"investment_earnings_or_losses":3421780,"grants_or_scholarships":1181588,"other_expenditures":1372587,"administrative_expenses":121451,"end_year_balance":102013729},"current_year_minus1":{"beginning_year_balance":82005163,"contributions":2875911,"investment_earnings_or_losses":30561878,"grants_or_scholarships":14838921,"other_expenditures":782506,"administrative_expenses":101530,"end_year_balance":99719995},"current_year_minus2":{"beginning_year_balance":96113870,"investment_earnings_or_losses":-13272707,"other_expenditures":730334,"administrative_expenses":105666,"end_year_balance":82005163},"current_year_minus3":{"beginning_year_balance":100999048,"investment_earnings_or_losses":-4020441,"other_expenditures":761242,"administrative_expenses":103495,"end_year_balance":96113870},"current_year_minus4":{"beginning_year_balance":103244235,"investment_earnings_or_losses":-1415667,"other_expenditures":736402,"administrative_expenses":93118,"end_year_balance":100999048},"board_designated_eoy_percentage":0.0,"permanent_endowment_eoy_percentage":0.0,"term_endowment_eoy_percentage":1.0,"held_by_unrelated_organizations":false,"held_by_related_organizations":false},"securities":{"other_securities":[{"description":"VENTURE CAPITAL","book_value":3806279,"method_of_valuation":"F"},{"description":"FIXED INCOME","book_value":0,"method_of_valuation":"F"},{"description":"PRIVATE EQUITY","book_value":97508844,"method_of_valuation":"F"},{"description":"PRIVATE REAL ESTATE","book_value":2737758,"method_of_valuation":"F"}],"total_book_value":104052881},"other_liabilities":{"liabilities":[{"description":"Interest Payable-Related Party","amount":435433}],"total_liability":435433,"footnote_text":true},"revenue_reconciliation":{"total_revenue_audited_financial_statements":4969360,"net_unrealized_gains_investments":8188670,"other_revenue":0,"revenue_not_reported":8188670,"revenue_subtotal":-3219310,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":-3219310},"expense_reconciliation":{"total_expenses_audited_financial_statements":2675626,"other_expenses_included":0,"expenses_not_reported":0,"expenses_subtotal":2675626,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":2675626},"supplemental_information":[{"form_and_line_reference":"Schedule D, Part V, Line 4 Intended uses of endowment funds","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST INTENDS TO USE THE ENDOWMENT FUNDS TO ACHIEVE MISSION RELATED ACTIVITIES BY MAKING INVESTMENTS THAT PROMOTE: ECONOMIC INCLUSION, HEALTH & WELLNESS, REAL ESTATE, EDUCATION, ACCESS TO ENERGY AND NATURAL RESOURCES, AND SOCIAL INSTITUTIONS."},{"form_and_line_reference":"Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote","explanation":"The Trust has an exemption from federal and state income tax under Section 501(c)(3) of the Internal Revenue Code and accordingly, no provision for income taxes is included in the financial statements. US GAAP requires the Trust to evaluate tax positions taken by the Trust and recognize a tax liability (or asset) if the Trust has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Trust has analyzed the tax positions taken and has concluded that as of June 30, 2022, there are no significant uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements."}]},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_org_grants":1181588,"reported_domestic_org_grants_program_services":1181588,"total_501c3_and_government_organizations":1,"total_other_organizations":0,"grants":[{"ein":42103634,"irc_section":"501 (c)(3)","cash":1181588,"purpose":"Grant Award","address_line1":"169 Holland Street","address_line2":"Attn Tax Department","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 Holland Street, Attn Tax Department, SOMERVILLE, MA, 02144"}],"total_domestic_grants":1181588,"total_domestic_program_services":1181588,"detail_org_grants_total":1181588,"detail_domestic_grants_total":1181588,"supplemental_information":[{"form_and_line_reference":"Schedule I, Part II, Line 1(d)","explanation":"FOR THE PERIOD ENDED JUNE 30, 2022, THE FUNDS ASSOCIATED WITH THIS GRANT WERE NOT YET PAID OUT TO THE TRUSTEES OF TUFTS COLLEGE. THE $1,181,588 GRANT FOR FISCAL YEAR 2022 WAS RECORDED AS AN ACCRUED LIABILITY FOR FINANCIAL STATEMENT PURPOSES."},{"form_and_line_reference":"Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds.","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP FUND USES MULTIPLE INTERNAL CONTROL PROCEDURES FOR MONITORING THE USE OF U.S. GRANT FUNDS. FOR THE CURRENT YEAR ONE GRANT TOTALING $1,181,588 WAS AWARDED TO THE TRUSTEES OF TUFTS COLLEGE. THE TRUST AWARDS THE UNIVERSITY A GRANT EACH YEAR DEPENDING ON THE PERFORMANCE OF THE TRUST IN ACCORDANCE WITH THE TRUST AGREEMENT AND THE REVISED GRANT DISTRIBUTION GUIDELINES APPROVED BY THE BOARD OF TRUSTEES. ALL GRANTS ARE RECORDED THROUGH THE FINANCIAL SERVICES OFFICE AND ACCOUNTING TRANSACTIONS ARE AUDITED ANNUALLY BY OUTSIDE INDEPENDENT AUDITORS."}],"grant_monitoring":{"claims_monitoring_procedures":true,"requires_financial_reports":true,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":true,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false,"monitoring_description":"FOR THE PERIOD ENDED JUNE 30, 2022, THE FUNDS ASSOCIATED WITH THIS GRANT WERE NOT YET PAID OUT TO THE TRUSTEES OF TUFTS COLLEGE. THE $1,181,588 GRANT FOR FISCAL YEAR 2022 WAS RECORDED AS AN ACCRUED LIABILITY FOR FINANCIAL STATEMENT PURPOSES.\n\nTHE OMIDYAR-TUFTS ACTIVE CITIZENSHIP FUND USES MULTIPLE INTERNAL CONTROL PROCEDURES FOR MONITORING THE USE OF U.S. GRANT FUNDS. FOR THE CURRENT YEAR ONE GRANT TOTALING $1,181,588 WAS AWARDED TO THE TRUSTEES OF TUFTS COLLEGE. THE TRUST AWARDS THE UNIVERSITY A GRANT EACH YEAR DEPENDING ON THE PERFORMANCE OF THE TRUST IN ACCORDANCE WITH THE TRUST AGREEMENT AND THE REVISED GRANT DISTRIBUTION GUIDELINES APPROVED BY THE BOARD OF TRUSTEES. ALL GRANTS ARE RECORDED THROUGH THE FINANCIAL SERVICES OFFICE AND ACCOUNTING TRANSACTIONS ARE AUDITED ANNUALLY BY OUTSIDE INDEPENDENT AUDITORS.","form_and_line_reference":"Schedule I, Part II, Line 1(d); Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds."}},"ScheduleF":{"regions":[{"region":"Central America and the Caribbean","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":17468000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":20754000,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":1897000,"employees":0,"offices":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":5280000,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":45399000,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":45399000,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":0},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false},"supplemental_information":[{"form_and_line_reference":"Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements","explanation":"CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SUB-SAHARAN AFRICA-Accrual"}],"grant_monitoring":{"monitoring_description":"CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SUB-SAHARAN AFRICA-Accrual","form_and_line_reference":"Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements"}},"ScheduleJ":{"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":false,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":851935,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":36360,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":144601,"other_compensation_filing_org":0,"other_compensation_related_orgs":175851,"total_compensation_filing_org":0,"total_compensation_related_orgs":1208747,"name":"Anthony P Monaco"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":184692,"compensation_based_on_related_orgs":303229,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":51342,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":131910,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":577,"other_compensation_filing_org":0,"other_compensation_related_orgs":676,"total_compensation_filing_org":0,"total_compensation_related_orgs":621084,"name":"TRYFAN D EVANS"},{"business_name_line1":"Craig W Smith","title":"Chief Investment Officer","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":141102,"compensation_based_on_related_orgs":420281,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":125017,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":31294,"other_compensation_filing_org":0,"other_compensation_related_orgs":685,"total_compensation_filing_org":0,"total_compensation_related_orgs":718379,"name":"Craig W Smith"},{"business_name_line1":"Saheba Sahni","title":"Investment Officer","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":32593,"compensation_based_on_related_orgs":146500,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":11623,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":24715,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":290,"other_compensation_filing_org":0,"other_compensation_related_orgs":103,"total_compensation_filing_org":0,"total_compensation_related_orgs":204201,"name":"Saheba Sahni"}],"supplemental_information":[{"form_and_line_reference":"Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan","explanation":"CRAIG W. SMITH, CHIEF INVESTMENT OFFICER, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOWS FOR UP TO 100% OF BASE SALARY EARNINGS. HE RECEIVED A PAYOUT AMOUNT OF $140,102 IN 2021. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7. TRYFAN D. EVANS, DIRECTOR OF INVESTMENTS, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOW FOR UP TO 96% OF BASE SALARY EARNINGS. HE RECEIVED A PAYOUT AMOUNT OF $158,692 IN 2021. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7. SAHEBA SAHNI, INVESTMENT OFFICER, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOW FOR UP TO 60% OF BASE SALARY EARNINGS. SHE RECEIVED A PAYOUT AMOUNT OF $31,593 IN 2021. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7."},{"form_and_line_reference":"Schedule J, Part I, Line 7 Non-fixed payments","explanation":"THE THREE INVESTMENT OFFICERS ARE EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE AND PARTICIPATED IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS FOR INDIVIDUAL JOB PERFORMANCE AND FOR ACHIEVING CERTAIN GOALS AND OBJECTIVES. THESE AMOUNTS ARE A COMPONENT OF THE TOTAL REPORTABLE AMOUNTS AS EXPLAINED ON SCHEDULE J, LINE 4(B) AND ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II)"},{"form_and_line_reference":"Schedule J, Part III SCH J, PART II","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST (THE TRUST) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR THE TRUST INCENTIVE PLANS."}]},"ScheduleM":{"policies":{"any_property_that_must_be_held":false,"forms_8283_received":0,"review_process_unusual_noncash_gifts":true,"third_parties_used":false},"noncash_contributions":{"securities_partnership_trust_interests":{"reported":true,"revenue_reported_on_990":1547580,"contribution_count":1,"method_of_determining_revenues":"Market value"}},"supplemental_information":[{"form_and_line_reference":"Schedule M, Part I NON-CASH CONTRIBUTIONS","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST IS REPORTING THE NUMBER OF NON-CASH FISCAL YEAR CONTRIBUTIONS BASED ON EACH GIFT RECEIVED."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities_text":"EDUCATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"2","controlled_organization_indicator":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TRUSTEES OF TUFTS COLLEGE","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":43419100,"business_name_line1":"WALNUT HILL PROPERTIES CORP","primary_activities_text":"REAL ESTATE MANAGEMENT","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"47 Winthrop St","city":"MEDFORD","state":"MA","zip":"02155","name":"WALNUT HILL PROPERTIES CORP","address":"47 Winthrop St, MEDFORD, MA, 02155"},{"ein":237000827,"business_name_line1":"TUFTS SHARED SERVICES INC","primary_activities_text":"COORDINATE HEALTH & EDUCATIONAL SERVICES","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"171 HARRISON AVE PO BOX 634","city":"BOSTON","state":"MA","zip":"02111","name":"TUFTS SHARED SERVICES INC","address":"171 HARRISON AVE PO BOX 634, BOSTON, MA, 02111"},{"ein":43430674,"business_name_line1":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","primary_activities_text":"VETERINARY EMERGENCY TREATMENT & CARE","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"200 WESTBOROUGH ROAD","city":"NORTH GRAFTON","state":"MA","zip":"02158","name":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC","address":"200 WESTBOROUGH ROAD, NORTH GRAFTON, MA, 02158"},{"ein":43236078,"business_name_line1":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","primary_activities_text":"VEBA","exempt_code_section_text":"501(c)(9)","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":474543971,"business_name_line1":"TUFTS GLOBAL INC","primary_activities_text":"FOREIGN OPERATIONS SUPPORT ORGANIZATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","name":"TUFTS GLOBAL INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"ein":46111643,"business_name_line1":"CIVIC EDUCATION FOUNDATION","primary_activities_text":"RAISE CIVIC AWARENESS","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","address_line2":"ATTN TAX DEPT","city":"SOMERVILLE","state":"MA","zip":"02144","name":"CIVIC EDUCATION FOUNDATION","address":"169 HOLLAND STREET, ATTN TAX DEPT, SOMERVILLE, MA, 02144"}],"taxable_corporations_and_trusts":[{"ein":43184043,"business_name_line1":"JM HOLDINGS INC","primary_activity":"REAL ESTATE DEVELOPMENT","ownership_percentage":1.0,"share_of_end_of_year_assets":31485,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"JM HOLDINGS INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"},{"business_name_line1":"PERPETUAL TRUSTS - (8)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"PERPETUAL TRUSTS - (8)"},{"business_name_line1":"CHARITABLE REMAINDER UNITRUSTS - (26)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE REMAINDER UNITRUSTS - (26)"},{"business_name_line1":"CHARITABLE LEAD TRUSTS - (3)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE LEAD TRUSTS - (3)"},{"ein":516581922,"business_name_line1":"TUFTS UNIVERSITY CHARITABLE TRUST","primary_activity":"SUPPORT","ownership_percentage":1.0,"share_of_total_income":36028,"share_of_end_of_year_assets":314663,"legal_domicile_foreign_country":"HK","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"C/O TRUSTEES OF TUFTS COLLEGE","address_line2":"169 HOLLAND STREET ATTN TAX DEPT","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"Trust","controlled_organization_indicator":true,"name":"TUFTS UNIVERSITY CHARITABLE TRUST","address":"C/O TRUSTEES OF TUFTS COLLEGE, 169 HOLLAND STREET ATTN TAX DEPT, SOMERVILLE, MA, 02144"},{"ein":475489178,"business_name_line1":"BRAINGATE INC","primary_activity":"PATENT HOLDINGS","ownership_percentage":1.0,"share_of_end_of_year_assets":65030,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"169 HOLLAND STREET","city":"SOMERVILLE","state":"MA","zip":"02144","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"BRAINGATE INC","address":"169 HOLLAND STREET, SOMERVILLE, MA, 02144"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":true,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":true},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":987000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"M","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":971000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":1181588,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"B","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":3804412,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"R","name":"TRUSTEES OF TUFTS COLLEGE"}],"supplemental_information":[{"form_and_line_reference":"Schedule R, Part IV, Column (a) TRUSTS","explanation":"THE PERPETUAL and CHARITABLE REMAINDER TRUSTS, and Charitable Lead Trusts ARE DOMICILED IN FLORIDA AND MASSACHUSETTS"}]},"source_xml":"202341319349301239_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and making positive societal changes through investments.","primary_activities":"Making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the Trustees of Tufts College, by making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change. During the year ended June 30, 2024, the Omidyar-Tufts Active Citizenship Trust disbursed $4.3 million in investments. At June 30, 2024 the fund had made 40 investments and $209 million in investment commitments since inception. To date, the fund has provided investment capital in North America, Latin America, Africa, Europe and Central Asia. The fund currently has investments in 45 countries. The sectors in which the Trust invests are currently as follows: (a) Economic Inclusion: including, but not limited to, financial inclusion (microfinance, microinsurance, payments & remittances, etc.), enabling small- and medium-sized enterprises, community development, entrepreneurial ecosystems, and economic resilience; (b) Health & Wellness: including, but not limited to, healthcare services & delivery, drug development and biotechnology, wellness & healthy lifestyles, and addressing environmental & social determinants of health; (c) Real Estate: including, but not limited to, affordable housing, workforce housing, and community institutions (e.g., schools; medical facilities); (d) Education: including, but not limited to, early childhood & k-12 education, workforce training, education technology, educator training, student finance, and personalized & adaptive learning; (e) Access to Energy & Natural Resources: including, but not limited to, clean water & water rights, distributed power generation and grid and off-grid energy access. (f) Social Institutions: including, but not limited to, internet privacy & digital rights, technology that increases accountability and transparency, and tools that enable and empower civic engagement.","year":2023,"name":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST","phone":"6176273816","type":"990","foreign_countries":["Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","tax_period_begin":"2023-07-01T00:00:00","tax_period_end":"2024-06-30T00:00:00","address":"80 George Street Attn Tax Dept, Medford, MA, 02155, USA","city":"Medford","state":"MA","country":"USA","zip_code":"02155"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":false,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements consolidated and separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":-1743767,"Contributions":{"value":0},"Program revenue":{"value":0,"Total other revenue":0},"Investment income":{"value":-1743767,"Investment income total":141459,"Net investment gain":-1885226},"Other revenues":{"value":0,"Other total":0}},"Expenses":{"value":1109467,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":795455,"Current officers":422512,"Other salaries and wages":241477,"Payroll taxes":131466},"Other expenses":{"value":314012,"Legal":30409,"Accounting":39650,"Investment management fees":85851,"Other services":33453,"Office expenses":786,"Travel":11956,"Interest":106157,"Itemized Expenses":5750,"All other expenses":0},"Functional Expenses":{"Program Service Expenses":990271,"Management And General Expenses":119196,"Fundraising Expenses":0}},"Assets":{"value":92627703,"Savings and temp cash investments":388581,"Receivables from officers":0,"Receivables from disqual persons":0,"Land, building, equipment":0,"Investments publicly traded":0,"Investments other":91575443,"Other assets":663679},"Liabilities":{"value":4036465,"Accounts payable, accrued":140005,"Grants payable":1819845,"Loans from officers, directors":0,"Other liabilities":2076615},"Fund balance":{"value":88591238,"Net assets with donor restriction":88591238},"Form990Details":{"program_service_accomplishments":[{"description":"Making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change.","expense":990271,"revenue":-1743767}],"functional_expense_allocations":{"current_officers_directors":{"program_services":380261,"management_and_general":42251,"total":422512},"other_salaries_and_wages":{"program_services":217329,"management_and_general":24148,"total":241477},"payroll_taxes":{"program_services":118319,"management_and_general":13147,"total":131466},"legal_fees":{"program_services":30409,"total":30409},"accounting_fees":{"management_and_general":39650,"total":39650},"investment_management_fees":{"program_services":85851,"total":85851},"other_service_fees":{"program_services":33453,"management_and_general":0,"fundraising":0,"total":33453},"office_expenses":{"program_services":786,"total":786},"travel":{"program_services":11956,"total":11956},"interest":{"program_services":106157,"total":106157},"all_other_expenses":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"donor_restricted_or_quasi_endowments":true,"method_of_accounting_accrual":true,"schedule_o_part_v":true,"schedule_o_part_vi":true},"principal_officer_detail":{"business_name_line1":"MICHAEL W HOWARD"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"business_relationship_with_35_controlled_entity":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":6920531,"grants_payable_end_of_year":1819845},"books_in_care_of_detail":{"phone":"6176273816","business_name_line1":"Jonathan Pearsall Exec Director & University Controller","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155"},"officers_directors_key_employees":[{"person_name":"Jeffrey M Moslow","title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"average_hours_per_week_related_org":3.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"Jeffrey M Moslow"},{"person_name":"Michael W Howard","title":"TRUSTEE - START DATE 1/9/2024","average_hours_per_week":1.0,"average_hours_per_week_related_org":40.3,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":674939,"other_compensation":73129,"individual_trustee_or_director":true,"name":"Michael W Howard"},{"person_name":"PIERRE M OMIDYAR","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"PIERRE M OMIDYAR"},{"person_name":"ROBINSON JACOBS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"ROBINSON JACOBS"},{"person_name":"THOMAS L PAPPAS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"THOMAS L PAPPAS"},{"person_name":"Craig W Smith","title":"Chief Investment Officer","average_hours_per_week":5.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":549656,"other_compensation":73310,"key_employee":true,"name":"Craig W Smith"},{"person_name":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":377311,"other_compensation":42356,"key_employee":true,"name":"TRYFAN D EVANS"},{"person_name":"Anthony P Monaco","title":"TRUSTEE - END DATE 6/30/2023","average_hours_per_week":1.0,"average_hours_per_week_related_org":60.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":1034376,"other_compensation":136425,"highest_compensated_employee":true,"name":"Anthony P Monaco"},{"person_name":"Saheba Sahni","title":"Investment Officer","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":215774,"other_compensation":12855,"highest_compensated_employee":true,"name":"Saheba Sahni"}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"supported_organizations_count":1,"sum_of_amounts":1032000,"other_support_sum":0,"rows":[{"ein":42103634,"organization_type":"2","support_amount":1032000,"other_support_amount":0,"governing_document_listed":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled":false,"contribution_controller":false,"contribution_family":false,"controlled_by_disqualified_person":false,"disqualified_person_controlling_interest":false,"disqualified_person_ownership_interest":false,"excess_business_holdings_rules":false,"listed_by_name_governing_doc":true,"loan_disqualified_person":false,"organization_change_supported_org":false,"payment_substantial_contributor":false,"support_non_supported_org":false,"supported_org_not_organized_us":false,"supported_org_section_c456":false,"supporting_org_no_irs_determination":false,"type1_operate_benefit_non_supported_org":false,"type1_power_appoint_majority":true},"supplemental_information":{"part_vi":[{"form_and_line_reference":"Schedule A, Part I LINE 11(G)(V) - AMOUNT OF MONETARY SUPPORT","explanation":"TRUSTEES OF TUFTS COLLEGE (TUFTS), A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST (THE TRUST), PAID OPERATING COSTS FOR THE TRUST TOTALING $955,000 FOR THE YEAR-ENDED JUNE 30, 2024. THE TRUST REIMBURSED TUFTS FOR $897,000 OF THESE COSTS. CONSIDERING THE TIMING OF THE YEAR-END THE TRUST HAD UNDERPAID TUFTS APPROXIMATELY $58,000 WHICH IS CURRENTLY REFLECTED AS AN ACCOUNT PAYABLE TO TUFTS. THE OPERATING COSTS INCURRED BY THE TRUST INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO MANAGE THE TRUST'S INVESTMENTS. FOR THE YEAR ENDED JUNE 30, 2024, THE TRUST PAID IN CASH $5,100,686 OF PREVIOUSLY ACCRUED GRANTS PAYABLE TO TUFTS AND had AN OUTSTANDING GRANT PAYABLE TO TUFTS FOR $1,819,845. THE CASH ASSOCIATED WITH THE GRANT WAS TRANSFERRED TO TUFTS BASED ON THE TRUST'S GRANT DISTRIBUTION GUIDELINES. FOR THE YEAR ENDED 6/30/24 $1,819,845 WILL BE TRANSFERRED TO TUFTS OVER A SHORT-TERM BASIS. THE TRUST PAYS INTEREST TO THE UNIVERSITY ON THE NON-CURRENT GRANTS PAYABLE AMOUNT. INTEREST PAYABLE AMOUNTED TO $77,000 AT JUNE 30, 2024. DURING YEAR ENDED JUNE 30, 2024, THE TRUST RECEIVED A LINE OF CREDIT OF $10,000,000 FROM TUFTS. THE LINE OF CREDIT IS USED FOR PORTFOLIO MANAGEMENT PURPOSES TO REDUCE THE NEED TO MAKE SHORT-TERM TRADES TO MAINTAIN CASH LEVELS DURING TRANSACTIONS AND MATURES IN SEPTEMBER 2026. THE AVERAGE RATE WAS 5.94% FOR 2024. AS OF JUNE 30, 2024 THE OUTSTANDING BALANCE ON THE LINE OF CREDIT FOR THE TRUST AMOUNTED TO $2,000,000."}]}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"endowment_funds":{"current_year":{"beginning_year_balance":93564961,"contributions":0,"investment_earnings_or_losses":-3864256,"grants_or_scholarships":0,"other_expenditures":990271,"administrative_expenses":119196,"end_year_balance":88591238},"current_year_minus1":{"beginning_year_balance":102013729,"contributions":0,"investment_earnings_or_losses":-7395930,"grants_or_scholarships":0,"other_expenditures":991543,"administrative_expenses":61295,"end_year_balance":93564961},"current_year_minus2":{"beginning_year_balance":99719995,"contributions":1547580,"investment_earnings_or_losses":3421780,"grants_or_scholarships":1181588,"other_expenditures":1372587,"administrative_expenses":121451,"end_year_balance":102013729},"current_year_minus3":{"beginning_year_balance":82005163,"contributions":2875911,"investment_earnings_or_losses":30561878,"grants_or_scholarships":14838921,"other_expenditures":782506,"administrative_expenses":101530,"end_year_balance":99719995},"current_year_minus4":{"beginning_year_balance":96113870,"investment_earnings_or_losses":-13272707,"other_expenditures":730334,"administrative_expenses":105666,"end_year_balance":82005163},"board_designated_eoy_percentage":0.0,"permanent_endowment_eoy_percentage":0.0,"term_endowment_eoy_percentage":1.0,"held_by_unrelated_organizations":false,"held_by_related_organizations":false},"securities":{"other_securities":[{"description":"VENTURE CAPITAL","book_value":5462846,"method_of_valuation":"F"},{"description":"PRIVATE EQUITY","book_value":83119612,"method_of_valuation":"F"},{"description":"PRIVATE REAL ESTATE","book_value":2992985,"method_of_valuation":"F"}],"total_book_value":91575443},"other_liabilities":{"liabilities":[{"description":"Interest Payable-Related Party","amount":76615},{"description":"LINE OF CREDIT","amount":2000000}],"total_liability":2076615,"footnote_text":true},"revenue_reconciliation":{"total_revenue_audited_financial_statements":-3864256,"net_unrealized_gains_investments":-2120489,"other_revenue":0,"revenue_not_reported":-2120489,"revenue_subtotal":-1743767,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":-1743767},"expense_reconciliation":{"total_expenses_audited_financial_statements":1109467,"other_expenses_included":0,"expenses_not_reported":0,"expenses_subtotal":1109467,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":1109467},"supplemental_information":[{"form_and_line_reference":"Schedule D, Part V, Line 4 Intended uses of endowment funds","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST INTENDS TO USE THE ENDOWMENT FUNDS TO ACHIEVE MISSION RELATED ACTIVITIES BY MAKING INVESTMENTS THAT PROMOTE: ECONOMIC INCLUSION, HEALTH & WELLNESS, REAL ESTATE, EDUCATION, ACCESS TO ENERGY AND NATURAL RESOURCES, AND SOCIAL INSTITUTIONS."},{"form_and_line_reference":"Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote","explanation":"The Trust has an exemption from federal and state income tax under Section 501(c)(3) of the Internal Revenue Code and accordingly, no provision for income taxes is included in the financial statements. US GAAP requires the Trust to evaluate tax positions taken by the Trust and recognize a tax liability (or asset) if the Trust has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Trust has analyzed the tax positions taken and has concluded that as of June 30, 2024, there are no significant uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements."}]},"ScheduleF":{"regions":[{"region":"Central America and the Caribbean","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":6687000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":22638000,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":393000,"employees":0,"offices":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":3754000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"TRAVEL FOR MISSION RELATED ACTIVITIES","total_expenditures":7459,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":33479459,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":33479459,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":0},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false},"supplemental_information":[{"form_and_line_reference":"Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements","explanation":"CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SUB-SAHARAN AFRICA-Accrual"}],"grant_monitoring":{"monitoring_description":"CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SUB-SAHARAN AFRICA-Accrual","form_and_line_reference":"Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements"}},"ScheduleJ":{"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":false,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"person_name":"Michael W Howard","title":"TRUSTEE - START DATE 1/9/2024","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":649278,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":41490,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":31639,"other_compensation_filing_org":0,"other_compensation_related_orgs":25661,"total_compensation_filing_org":0,"total_compensation_related_orgs":748068,"name":"Michael W Howard"},{"person_name":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":45800,"compensation_based_on_related_orgs":330734,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":48623,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":41490,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":866,"other_compensation_filing_org":0,"other_compensation_related_orgs":777,"total_compensation_filing_org":0,"total_compensation_related_orgs":419667,"name":"TRYFAN D EVANS"},{"person_name":"Craig W Smith","title":"Chief Investment Officer","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":44762,"compensation_based_on_related_orgs":504052,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":47748,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":41490,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":31820,"other_compensation_filing_org":0,"other_compensation_related_orgs":842,"total_compensation_filing_org":0,"total_compensation_related_orgs":622966,"name":"Craig W Smith"},{"person_name":"Saheba Sahni","title":"Investment Officer","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":8274,"compensation_based_on_related_orgs":207358,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":8772,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":12726,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":129,"other_compensation_filing_org":0,"other_compensation_related_orgs":142,"total_compensation_filing_org":0,"total_compensation_related_orgs":228629,"name":"Saheba Sahni"},{"person_name":"Anthony P Monaco","title":"TRUSTEE - END DATE 6/30/2023","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":984880,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":41490,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":94935,"other_compensation_filing_org":0,"other_compensation_related_orgs":49496,"total_compensation_filing_org":0,"total_compensation_related_orgs":1170801,"name":"Anthony P Monaco"}],"supplemental_information":[{"form_and_line_reference":"Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan","explanation":"CRAIG W. SMITH, CHIEF INVESTMENT OFFICER, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOWS FOR UP TO 100% OF BASE SALARY EARNINGS. HE RECEIVED A PAYOUT AMOUNT OF $44,762 IN 2023. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7. TRYFAN D. EVANS, DIRECTOR OF INVESTMENTS, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOW FOR UP TO 96% OF BASE SALARY EARNINGS. HE RECEIVED A PAYOUT AMOUNT OF $45,800 IN 2023. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7. SAHEBA SAHNI, INVESTMENT OFFICER, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOW FOR UP TO 60% OF BASE SALARY EARNINGS. SHE RECEIVED A PAYOUT AMOUNT OF $8,274 IN 2023. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7."},{"form_and_line_reference":"Schedule J, Part I, Line 7 Non-fixed payments","explanation":"THE THREE INVESTMENT OFFICERS ARE EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE AND PARTICIPATED IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS FOR INDIVIDUAL JOB PERFORMANCE AND FOR ACHIEVING CERTAIN GOALS AND OBJECTIVES. THESE AMOUNTS ARE A COMPONENT OF THE TOTAL REPORTABLE AMOUNTS AS EXPLAINED ON SCHEDULE J, LINE 4(B) AND ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II)"},{"form_and_line_reference":"Schedule J, Part III SCH J, PART II","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST (THE TRUST) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR THE TRUST INCENTIVE PLANS."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities_text":"EDUCATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"2","controlled_organization_indicator":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"TRUSTEES OF TUFTS COLLEGE","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"ein":43419100,"business_name_line1":"WALNUT HILL PROPERTIES CORP","primary_activities_text":"REAL ESTATE MANAGEMENT","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"14 CAPEN STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"WALNUT HILL PROPERTIES CORP","address":"14 CAPEN STREET, MEDFORD, MA, 02155"},{"ein":237000827,"business_name_line1":"TUFTS SHARED SERVICES INC","primary_activities_text":"COORDINATE HEALTH & EDUCATIONAL SERVICES","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"171 HARRISON AVE PO BOX 634","city":"BOSTON","state":"MA","zip":"02111","name":"TUFTS SHARED SERVICES INC","address":"171 HARRISON AVE PO BOX 634, BOSTON, MA, 02111"},{"ein":43430674,"business_name_line1":"TUFTS VETERINARY (SEE ATTACHED)","primary_activities_text":"VETERINARY EMERGENCY TREATMENT & CARE","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"200 WESTBOROUGH ROAD","city":"NORTH GRAFTON","state":"MA","zip":"02158","name":"TUFTS VETERINARY (SEE ATTACHED)","address":"200 WESTBOROUGH ROAD, NORTH GRAFTON, MA, 02158"},{"ein":43236078,"business_name_line1":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","primary_activities_text":"VEBA","exempt_code_section_text":"501(c)(9)","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"ein":474543971,"business_name_line1":"TUFTS GLOBAL INC","primary_activities_text":"FOREIGN OPERATIONS SUPPORT ORGANIZATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"TUFTS GLOBAL INC","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"ein":46111643,"business_name_line1":"CIVIC EDUCATION FOUNDATION","primary_activities_text":"RAISE CIVIC AWARENESS","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","address_line2":"ATTN TAX DEPT","city":"MEDFORD","state":"MA","zip":"02155","name":"CIVIC EDUCATION FOUNDATION","address":"80 GEORGE STREET, ATTN TAX DEPT, MEDFORD, MA, 02155"}],"taxable_corporations_and_trusts":[{"ein":43184043,"business_name_line1":"JM HOLDINGS INC","primary_activity":"REAL ESTATE DEVELOPMENT","ownership_percentage":1.0,"share_of_total_income":6044,"share_of_end_of_year_assets":30723,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"JM HOLDINGS INC","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"business_name_line1":"PERPETUAL TRUSTS - (7)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"PERPETUAL TRUSTS - (7)","address":"80 George Street, Medford, MA, 02155"},{"business_name_line1":"CHARITABLE REMAINDER UNITRUSTS - (25)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE REMAINDER UNITRUSTS - (25)","address":"80 George Street, Medford, MA, 02155"},{"business_name_line1":"CHARITABLE LEAD TRUSTS - (1)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE LEAD TRUSTS - (1)","address":"80 George Street, Medford, MA, 02155"},{"ein":516581922,"business_name_line1":"TUFTS UNIVERSITY CHARITABLE TRUST","primary_activity":"SUPPORT","ownership_percentage":1.0,"share_of_total_income":-205428,"share_of_end_of_year_assets":138234,"legal_domicile_foreign_country":"HK","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET ATTN TAX DEPT","city":"MEDFORD","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":true,"name":"TUFTS UNIVERSITY CHARITABLE TRUST","address":"80 GEORGE STREET ATTN TAX DEPT, MEDFORD, MA, 02155"},{"ein":475489178,"business_name_line1":"BRAINGATE INC","primary_activity":"PATENT HOLDINGS","ownership_percentage":1.0,"share_of_total_income":-5304,"share_of_end_of_year_assets":90000,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"BRAINGATE INC","address":"80 GEORGE STREET, MEDFORD, MA, 02155"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":true,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":true},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":955000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"M","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":897000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":5100686,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"R","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":2000000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"E","name":"TRUSTEES OF TUFTS COLLEGE"}],"supplemental_information":[{"form_and_line_reference":"Schedule R, Part IV, Column (a) TRUSTS","explanation":"THE PERPETUAL and CHARITABLE REMAINDER TRUSTS, and Charitable Lead Trusts ARE DOMICILED IN CALIFORNIA, MASSACHUSETTS, NEW JERSEY, AND TEXAS."},{"form_and_line_reference":"Schedule R, Part II, Column (a) TUFTS VETERINARY","explanation":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC."}]},"source_xml":"202511339349305041_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and making positive societal changes through investments.","primary_activities":"Making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the Trustees of Tufts College, by making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change. During the year ended June 30, 2023, the Omidyar-Tufts Active Citizenship Trust disbursed $6.1 million in investments. At June 30, 2023 the fund had made 40 investments and $209 million in investment commitments since inception. To date, the fund has provided investment capital in North America, Latin America, Africa, Europe and Central Asia. The fund currently has investments in 45 countries. The sectors in which the Trust invests are currently as follows: (a) Economic Inclusion: including, but not limited to, financial inclusion (microfinance, microinsurance, payments & remittances, etc.), enabling small- and medium-sized enterprises, community development, entrepreneurial ecosystems, and economic resilience; (b) Health & Wellness: including, but not limited to, healthcare services & delivery, drug development and biotechnology, wellness & healthy lifestyles, and addressing environmental & social determinants of health; (c) Real Estate: including, but not limited to, affordable housing, workforce housing, and community institutions (e.g., schools; medical facilities); (d) Education: including, but not limited to, early childhood & k-12 education, workforce training, education technology, educator training, student finance, and personalized & adaptive learning; (e) Access to Energy & Natural Resources: including, but not limited to, clean water & water rights, distributed power generation and grid and off-grid energy access. (f) Social Institutions: including, but not limited to, internet privacy & digital rights, technology that increases accountability and transparency, and tools that enable and empower civic engagement.","year":2022,"name":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST","phone":"6176273816","type":"990","foreign_countries":["Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","tax_period_begin":"2022-07-01T00:00:00","tax_period_end":"2023-06-30T00:00:00","address":"80 George Street Attn Tax Dept, Medford, MA, 02155, USA","city":"Medford","state":"MA","country":"USA","zip_code":"02155"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":false,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements consolidated and separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":-5548816,"Contributions":{"value":0},"Program revenue":{"value":0,"Total other revenue":0},"Investment income":{"value":-5548816,"Investment income total":234303,"Net investment gain":-5783119},"Other revenues":{"value":0,"Other total":0}},"Expenses":{"value":1052838,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":601942,"Current officers":336876,"Other salaries and wages":155590,"Payroll taxes":109476},"Other expenses":{"value":450896,"Legal":44354,"Investment management fees":83228,"Other services":31230,"Office expenses":752,"Travel":6124,"Interest":282358,"All other expenses":2850},"Functional Expenses":{"Program Service Expenses":991543,"Management And General Expenses":61295,"Fundraising Expenses":0}},"Assets":{"value":100913759,"Savings and temp cash investments":7295900,"Receivables from officers":0,"Receivables from disqual persons":0,"Land, building, equipment":0,"Investments publicly traded":1033382,"Investments other":91591039,"Other assets":993438},"Liabilities":{"value":7348798,"Accounts payable, accrued":145909,"Grants payable":6920531,"Loans from officers, directors":0,"Other liabilities":282358},"Fund balance":{"value":93564961,"Net assets with donor restriction":93564961},"Form990Details":{"program_service_accomplishments":[{"description":"Making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change.","expense":991543,"grants":0,"revenue":-5548816}],"functional_expense_allocations":{"current_officers_directors":{"program_services":303188,"management_and_general":33688,"total":336876},"other_salaries_and_wages":{"program_services":140031,"management_and_general":15559,"total":155590},"payroll_taxes":{"program_services":98528,"management_and_general":10948,"total":109476},"legal_fees":{"program_services":44354,"total":44354},"investment_management_fees":{"program_services":83228,"total":83228},"other_service_fees":{"program_services":31230,"management_and_general":0,"fundraising":0,"total":31230},"office_expenses":{"program_services":752,"total":752},"travel":{"program_services":6124,"total":6124},"interest":{"program_services":282358,"total":282358},"all_other_expenses":{"program_services":1750,"management_and_general":1100,"fundraising":0,"total":2850}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"donor_restricted_or_quasi_endowments":true,"method_of_accounting_accrual":true,"schedule_o_part_v":true,"schedule_o_part_vi":true},"principal_officer_detail":{"business_name_line1":"MICHAEL W HOWARD"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"business_relationship_with_35_controlled_entity":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":11906531,"grants_payable_end_of_year":6920531},"books_in_care_of_detail":{"phone":"6176273816","business_name_line1":"Jonathan Pearsall Exec Director & University Controller","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155"},"officers_directors_key_employees":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE - END DATE 6/30/2023","average_hours_per_week":1.0,"average_hours_per_week_related_org":60.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":1073523,"other_compensation":184272,"individual_trustee_or_director":true,"name":"Anthony P Monaco"},{"business_name_line1":"Jeffrey M Moslow","title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"average_hours_per_week_related_org":3.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"Jeffrey M Moslow"},{"business_name_line1":"PIERRE M OMIDYAR","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"PIERRE M OMIDYAR"},{"business_name_line1":"ROBINSON JACOBS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"ROBINSON JACOBS"},{"business_name_line1":"THOMAS L PAPPAS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"THOMAS L PAPPAS"},{"business_name_line1":"Craig W Smith","title":"Chief Investment Officer","average_hours_per_week":5.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":543276,"other_compensation":71716,"key_employee":true,"name":"Craig W Smith"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":385663,"other_compensation":39472,"key_employee":true,"name":"TRYFAN D EVANS"},{"business_name_line1":"Saheba Sahni","title":"Investment Officer","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":178124,"other_compensation":9621,"highest_compensated_employee":true,"name":"Saheba Sahni"}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"supported_organizations_count":1,"sum_of_amounts":1113000,"other_support_sum":0,"rows":[{"ein":42103634,"organization_type":"2","support_amount":1113000,"other_support_amount":0,"governing_document_listed":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled":false,"contribution_controller":false,"contribution_family":false,"controlled_by_disqualified_person":false,"disqualified_person_controlling_interest":false,"disqualified_person_ownership_interest":false,"excess_business_holdings_rules":false,"listed_by_name_governing_doc":true,"loan_disqualified_person":false,"organization_change_supported_org":false,"payment_substantial_contributor":false,"support_non_supported_org":false,"supported_org_not_organized_us":false,"supported_org_section_c456":false,"supporting_org_no_irs_determination":false,"type1_operate_benefit_non_supported_org":false,"type1_power_appoint_majority":true},"supplemental_information":{"part_vi":[{"form_and_line_reference":"Schedule A, Part I LINE 11(G)(V) - AMOUNT OF MONETARY SUPPORT","explanation":"TRUSTEES OF TUFTS COLLEGE (TUFTS), A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST (THE TRUST), PAID OPERATING COSTS FOR THE TRUST TOTALING $831,000 FOR THE YEAR-ENDED JUNE 30, 2023. THE TRUST REIMBURSED TUFTS FOR $786,000 OF THESE COSTS. CONSIDERING THE TIMING OF THE YEAR-END THE TRUST HAD UNDERPAID TUFTS APPROXIMATELY $45,000 WHICH IS CURRENTLY REFLECTED AS AN ACCOUNT PAYABLE TO TUFTS. THE OPERATING COSTS INCURRED BY THE TRUST INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO MANAGE THE TRUST'S INVESTMENTS. FOR THE YEAR ENDED JUNE 30, 2023, THE TRUST PAID IN CASH $4,986,000 OF PREVIOUSLY ACCRUED GRANTS PAYABLE TO TUFTS AND had AN OUTSTANDING GRANT PAYABLE TO TUFTS FOR $6,920,531. THE CASH ASSOCIATED WITH THE GRANT WAS TRANSFERRED TO TUFTS BASED ON THE TRUST'S GRANT DISTRIBUTION GUIDELINES. FOR THE YEAR ENDED 6/30/23 $5,100,686 WILL BE TRANSFERRED TO TUFTS OVER A SHORT-TERM BASIS AND THE REMAINING $1,819,845 WILL BE TRANSFERRED TO TUFTS OVER A LONG-TERM BASIS. THE TRUST PAYS INTEREST TO THE UNIVERSITY ON THE NON-CURRENT GRANTS PAYABLE AMOUNT. INTEREST PAYABLE AMOUNTED TO $282,000 AT JUNE 30, 2023."}]}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"endowment_funds":{"current_year":{"beginning_year_balance":102013729,"contributions":0,"investment_earnings_or_losses":-7395930,"grants_or_scholarships":0,"other_expenditures":991543,"administrative_expenses":61295,"end_year_balance":93564961},"current_year_minus1":{"beginning_year_balance":99719995,"contributions":1547580,"investment_earnings_or_losses":3421780,"grants_or_scholarships":1181588,"other_expenditures":1372587,"administrative_expenses":121451,"end_year_balance":102013729},"current_year_minus2":{"beginning_year_balance":82005163,"contributions":2875911,"investment_earnings_or_losses":30561878,"grants_or_scholarships":14838921,"other_expenditures":782506,"administrative_expenses":101530,"end_year_balance":99719995},"current_year_minus3":{"beginning_year_balance":96113870,"investment_earnings_or_losses":-13272707,"other_expenditures":730334,"administrative_expenses":105666,"end_year_balance":82005163},"current_year_minus4":{"beginning_year_balance":100999048,"investment_earnings_or_losses":-4020441,"other_expenditures":761242,"administrative_expenses":103495,"end_year_balance":96113870},"board_designated_eoy_percentage":0.0,"permanent_endowment_eoy_percentage":0.0,"term_endowment_eoy_percentage":1.0,"held_by_unrelated_organizations":false,"held_by_related_organizations":false},"securities":{"other_securities":[{"description":"VENTURE CAPITAL","book_value":4131003,"method_of_valuation":"F"},{"description":"PRIVATE EQUITY","book_value":84593844,"method_of_valuation":"F"},{"description":"PRIVATE REAL ESTATE","book_value":2866192,"method_of_valuation":"F"}],"total_book_value":91591039},"other_liabilities":{"liabilities":[{"description":"Interest Payable-Related Party","amount":282358}],"total_liability":282358,"footnote_text":true},"revenue_reconciliation":{"total_revenue_audited_financial_statements":-7395930,"net_unrealized_gains_investments":-1847114,"other_revenue":0,"revenue_not_reported":-1847114,"revenue_subtotal":-5548816,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":-5548816},"expense_reconciliation":{"total_expenses_audited_financial_statements":1052838,"other_expenses_included":0,"expenses_not_reported":0,"expenses_subtotal":1052838,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":1052838},"supplemental_information":[{"form_and_line_reference":"Schedule D, Part V, Line 4 Intended uses of endowment funds","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST INTENDS TO USE THE ENDOWMENT FUNDS TO ACHIEVE MISSION RELATED ACTIVITIES BY MAKING INVESTMENTS THAT PROMOTE: ECONOMIC INCLUSION, HEALTH & WELLNESS, REAL ESTATE, EDUCATION, ACCESS TO ENERGY AND NATURAL RESOURCES, AND SOCIAL INSTITUTIONS."},{"form_and_line_reference":"Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote","explanation":"The Trust has an exemption from federal and state income tax under Section 501(c)(3) of the Internal Revenue Code and accordingly, no provision for income taxes is included in the financial statements. US GAAP requires the Trust to evaluate tax positions taken by the Trust and recognize a tax liability (or asset) if the Trust has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Trust has analyzed the tax positions taken and has concluded that as of June 30, 2023, there are no significant uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements."}]},"ScheduleF":{"regions":[{"region":"Central America and the Caribbean","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":6580000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":21857000,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":1782000,"employees":0,"offices":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":5302000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"TRAVEL FOR MISSION RELATED ACTIVITIES","total_expenditures":6945,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":35527945,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":35527945,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":0},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false},"supplemental_information":[{"form_and_line_reference":"Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements","explanation":"CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SUB-SAHARAN AFRICA-Accrual"}],"grant_monitoring":{"monitoring_description":"CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SUB-SAHARAN AFRICA-Accrual","form_and_line_reference":"Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements"}},"ScheduleJ":{"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":false,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"business_name_line1":"Anthony P Monaco","title":"TRUSTEE - END DATE 6/30/2023","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":960283,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":38400,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":145872,"other_compensation_filing_org":0,"other_compensation_related_orgs":113240,"total_compensation_filing_org":0,"total_compensation_related_orgs":1257795,"name":"Anthony P Monaco"},{"business_name_line1":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":65658,"compensation_based_on_related_orgs":319260,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":60275,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":39247,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":225,"other_compensation_filing_org":0,"other_compensation_related_orgs":745,"total_compensation_filing_org":0,"total_compensation_related_orgs":425135,"name":"TRYFAN D EVANS"},{"business_name_line1":"Craig W Smith","title":"Chief Investment Officer","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":58909,"compensation_based_on_related_orgs":483563,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":44328,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":41819,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":29897,"other_compensation_filing_org":0,"other_compensation_related_orgs":804,"total_compensation_filing_org":0,"total_compensation_related_orgs":614992,"name":"Craig W Smith"},{"business_name_line1":"Saheba Sahni","title":"Investment Officer","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":17099,"compensation_based_on_related_orgs":102062,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":14580,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":9053,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":568,"other_compensation_filing_org":0,"other_compensation_related_orgs":58963,"total_compensation_filing_org":0,"total_compensation_related_orgs":187745,"name":"Saheba Sahni"}],"supplemental_information":[{"form_and_line_reference":"Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan","explanation":"CRAIG W. SMITH, CHIEF INVESTMENT OFFICER, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOWS FOR UP TO 100% OF BASE SALARY EARNINGS. HE RECEIVED A PAYOUT AMOUNT OF $58,909 IN 2022. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7. TRYFAN D. EVANS, DIRECTOR OF INVESTMENTS, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOW FOR UP TO 96% OF BASE SALARY EARNINGS. HE RECEIVED A PAYOUT AMOUNT OF $65,658 IN 2022. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7. SAHEBA SAHNI, INVESTMENT OFFICER, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOW FOR UP TO 60% OF BASE SALARY EARNINGS. SHE RECEIVED A PAYOUT AMOUNT OF $17,099 IN 2022. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7."},{"form_and_line_reference":"Schedule J, Part I, Line 7 Non-fixed payments","explanation":"THE THREE INVESTMENT OFFICERS ARE EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE AND PARTICIPATED IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS FOR INDIVIDUAL JOB PERFORMANCE AND FOR ACHIEVING CERTAIN GOALS AND OBJECTIVES. THESE AMOUNTS ARE A COMPONENT OF THE TOTAL REPORTABLE AMOUNTS AS EXPLAINED ON SCHEDULE J, LINE 4(B) AND ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II)"},{"form_and_line_reference":"Schedule J, Part III SCH J, PART II","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST (THE TRUST) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR THE TRUST INCENTIVE PLANS."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities_text":"EDUCATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"2","controlled_organization_indicator":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"TRUSTEES OF TUFTS COLLEGE","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"ein":43419100,"business_name_line1":"WALNUT HILL PROPERTIES CORP","primary_activities_text":"REAL ESTATE MANAGEMENT","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"14 CAPEN STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"WALNUT HILL PROPERTIES CORP","address":"14 CAPEN STREET, MEDFORD, MA, 02155"},{"ein":237000827,"business_name_line1":"TUFTS SHARED SERVICES INC","primary_activities_text":"COORDINATE HEALTH & EDUCATIONAL SERVICES","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"171 HARRISON AVE PO BOX 634","city":"BOSTON","state":"MA","zip":"02111","name":"TUFTS SHARED SERVICES INC","address":"171 HARRISON AVE PO BOX 634, BOSTON, MA, 02111"},{"ein":43430674,"business_name_line1":"TUFTS VETERINARY (SEE ATTACHED)","primary_activities_text":"VETERINARY EMERGENCY TREATMENT & CARE","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"200 WESTBOROUGH ROAD","city":"NORTH GRAFTON","state":"MA","zip":"02158","name":"TUFTS VETERINARY (SEE ATTACHED)","address":"200 WESTBOROUGH ROAD, NORTH GRAFTON, MA, 02158"},{"ein":43236078,"business_name_line1":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","primary_activities_text":"VEBA","exempt_code_section_text":"501(c)(9)","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"ein":474543971,"business_name_line1":"TUFTS GLOBAL INC","primary_activities_text":"FOREIGN OPERATIONS SUPPORT ORGANIZATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"TUFTS GLOBAL INC","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"ein":46111643,"business_name_line1":"CIVIC EDUCATION FOUNDATION","primary_activities_text":"RAISE CIVIC AWARENESS","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","address_line2":"ATTN TAX DEPT","city":"MEDFORD","state":"MA","zip":"02155","name":"CIVIC EDUCATION FOUNDATION","address":"80 GEORGE STREET, ATTN TAX DEPT, MEDFORD, MA, 02155"}],"taxable_corporations_and_trusts":[{"ein":43184043,"business_name_line1":"JM HOLDINGS INC","primary_activity":"REAL ESTATE DEVELOPMENT","ownership_percentage":1.0,"share_of_total_income":-6806,"share_of_end_of_year_assets":24679,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"JM HOLDINGS INC","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"business_name_line1":"PERPETUAL TRUSTS - (8)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"PERPETUAL TRUSTS - (8)","address":"80 George Street, Medford, MA, 02155"},{"business_name_line1":"CHARITABLE REMAINDER UNITRUSTS - (25)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE REMAINDER UNITRUSTS - (25)","address":"80 George Street, Medford, MA, 02155"},{"business_name_line1":"CHARITABLE LEAD TRUSTS - (2)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE LEAD TRUSTS - (2)","address":"80 George Street, Medford, MA, 02155"},{"ein":516581922,"business_name_line1":"TUFTS UNIVERSITY CHARITABLE TRUST","primary_activity":"SUPPORT","ownership_percentage":1.0,"share_of_total_income":29000,"share_of_end_of_year_assets":343663,"legal_domicile_foreign_country":"HK","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET ATTN TAX DEPT","city":"MEDFORD","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":true,"name":"TUFTS UNIVERSITY CHARITABLE TRUST","address":"80 GEORGE STREET ATTN TAX DEPT, MEDFORD, MA, 02155"},{"ein":475489178,"business_name_line1":"BRAINGATE INC","primary_activity":"PATENT HOLDINGS","ownership_percentage":1.0,"share_of_total_income":-7308,"share_of_end_of_year_assets":90000,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"BRAINGATE INC","address":"80 GEORGE STREET, MEDFORD, MA, 02155"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":true},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":831000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"M","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":786000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":4986000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"R","name":"TRUSTEES OF TUFTS COLLEGE"}],"supplemental_information":[{"form_and_line_reference":"Schedule R, Part IV, Column (a) TRUSTS","explanation":"THE PERPETUAL and CHARITABLE REMAINDER TRUSTS, and Charitable Lead Trusts ARE DOMICILED IN CALIFORNIA, MASSACHUSETTS, NEW JERSEY, PENNSYLVANIA, RHODE ISLAND, AND TEXAS."},{"form_and_line_reference":"Schedule R, Part II, Column (a) TUFTS VETERINARY","explanation":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC."}]},"source_xml":"202431359349305503_public.xml"}],"Latest":{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"Promoting education through grants and making positive societal changes through investments.","primary_activities":"Making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change.\n\nThe purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the Trustees of Tufts College, by making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change. During the year ended June 30, 2024, the Omidyar-Tufts Active Citizenship Trust disbursed $4.3 million in investments. At June 30, 2024 the fund had made 40 investments and $209 million in investment commitments since inception. To date, the fund has provided investment capital in North America, Latin America, Africa, Europe and Central Asia. The fund currently has investments in 45 countries. The sectors in which the Trust invests are currently as follows: (a) Economic Inclusion: including, but not limited to, financial inclusion (microfinance, microinsurance, payments & remittances, etc.), enabling small- and medium-sized enterprises, community development, entrepreneurial ecosystems, and economic resilience; (b) Health & Wellness: including, but not limited to, healthcare services & delivery, drug development and biotechnology, wellness & healthy lifestyles, and addressing environmental & social determinants of health; (c) Real Estate: including, but not limited to, affordable housing, workforce housing, and community institutions (e.g., schools; medical facilities); (d) Education: including, but not limited to, early childhood & k-12 education, workforce training, education technology, educator training, student finance, and personalized & adaptive learning; (e) Access to Energy & Natural Resources: including, but not limited to, clean water & water rights, distributed power generation and grid and off-grid energy access. (f) Social Institutions: including, but not limited to, internet privacy & digital rights, technology that increases accountability and transparency, and tools that enable and empower civic engagement.","year":2023,"name":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST","phone":"6176273816","type":"990","foreign_countries":["Albania","Andorra","Angola","Anguilla","Antigua and Barbuda","Aruba","Austria","Bahamas","Barbados","Belarus","Belgium","Belize","Benin","Bermuda","Bosnia and Herzegovina","Botswana","British Virgin Islands","Bulgaria","Burkina Faso","Burundi","Cameroon","Canada","Cape Verde","Caribbean Netherlands","Cayman Islands","Central African Republic","Chad","Comoros","Congo","Congo, Democratic Republic of the","Costa Rica","Cote d'Ivoire","Croatia","Cuba","Curaçao","Cyprus","Czechia","Denmark","Djibouti","Dominica","Dominican Republic","El Salvador","Equatorial Guinea","Eritrea","Estonia","Ethiopia","Faroe Islands","Finland","France","Gabon","Gambia","Germany","Ghana","Gibraltar","Greece","Greenland","Grenada","Guadeloupe","Guatemala","Guernsey","Guinea","Guinea-Bissau","Haiti","Honduras","Hungary","Iceland","Ireland","Isle of Man","Italy","Jamaica","Jersey","Kenya","Kosovo","Latvia","Lesotho","Liberia","Liechtenstein","Lithuania","Luxembourg","Madagascar","Malawi","Mali","Malta","Martinique","Mauritania","Mauritius","Mayotte","Mexico","Moldova","Monaco","Montenegro","Montserrat","Mozambique","Namibia","Netherlands","Nicaragua","Niger","Nigeria","North Macedonia","Norway","Panama","Poland","Portugal","Puerto Rico","Romania","Russia","Rwanda","Saint Barthélemy","Saint Helena","Saint Kitts and Nevis","Saint Lucia","Saint Martin","Saint Pierre and Miquelon","Saint Vincent and the Grenadines","San Marino","Sao Tome and Principe","Senegal","Serbia","Seychelles","Sierra Leone","Sint Maarten","Slovakia","Slovenia","Somalia","South Africa","South Sudan","Spain","Sudan","Svalbard and Jan Mayen","Swaziland","Sweden","Switzerland","Tanzania","Togo","Trinidad and Tobago","Turks and Caicos Islands","Uganda","Ukraine","United Kingdom","United States","United States Minor Outlying Islands","United States Virgin Islands","Vatican City","Zambia","Zimbabwe","Åland Islands"],"year_formation":2005,"state_legal_domicile":"MA","tax_period_begin":"2023-07-01T00:00:00","tax_period_end":"2024-06-30T00:00:00","address":"80 George Street Attn Tax Dept, Medford, MA, 02155, USA","city":"Medford","state":"MA","country":"USA","zip_code":"02155"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":4,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":false,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Audited financial statements consolidated and separate":true,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":true,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":-1743767,"Contributions":{"value":0},"Program revenue":{"value":0,"Total other revenue":0},"Investment income":{"value":-1743767,"Investment income total":141459,"Net investment gain":-1885226},"Other revenues":{"value":0,"Other total":0}},"Expenses":{"value":1109467,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":795455,"Current officers":422512,"Other salaries and wages":241477,"Payroll taxes":131466},"Other expenses":{"value":314012,"Legal":30409,"Accounting":39650,"Investment management fees":85851,"Other services":33453,"Office expenses":786,"Travel":11956,"Interest":106157,"Itemized Expenses":5750,"All other expenses":0},"Functional Expenses":{"Program Service Expenses":990271,"Management And General Expenses":119196,"Fundraising Expenses":0}},"Assets":{"value":92627703,"Savings and temp cash investments":388581,"Receivables from officers":0,"Receivables from disqual persons":0,"Land, building, equipment":0,"Investments publicly traded":0,"Investments other":91575443,"Other assets":663679},"Liabilities":{"value":4036465,"Accounts payable, accrued":140005,"Grants payable":1819845,"Loans from officers, directors":0,"Other liabilities":2076615},"Fund balance":{"value":88591238,"Net assets with donor restriction":88591238},"Form990Details":{"program_service_accomplishments":[{"description":"Making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change.","expense":990271,"revenue":-1743767}],"functional_expense_allocations":{"current_officers_directors":{"program_services":380261,"management_and_general":42251,"total":422512},"other_salaries_and_wages":{"program_services":217329,"management_and_general":24148,"total":241477},"payroll_taxes":{"program_services":118319,"management_and_general":13147,"total":131466},"legal_fees":{"program_services":30409,"total":30409},"accounting_fees":{"management_and_general":39650,"total":39650},"investment_management_fees":{"program_services":85851,"total":85851},"other_service_fees":{"program_services":33453,"management_and_general":0,"fundraising":0,"total":33453},"office_expenses":{"program_services":786,"total":786},"travel":{"program_services":11956,"total":11956},"interest":{"program_services":106157,"total":106157},"all_other_expenses":{"program_services":0,"management_and_general":0,"fundraising":0,"total":0}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"donor_restricted_or_quasi_endowments":true,"method_of_accounting_accrual":true,"schedule_o_part_v":true,"schedule_o_part_vi":true},"principal_officer_detail":{"business_name_line1":"MICHAEL W HOWARD"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"business_relationship_with_35_controlled_entity":false,"officer_mailing_address":false,"related_entity":true,"related_org_controlled_entity":true,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":6920531,"grants_payable_end_of_year":1819845},"books_in_care_of_detail":{"phone":"6176273816","business_name_line1":"Jonathan Pearsall Exec Director & University Controller","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155"},"officers_directors_key_employees":[{"person_name":"Jeffrey M Moslow","title":"TRUSTEE & CHAIRPERSON","average_hours_per_week":1.0,"average_hours_per_week_related_org":3.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"Jeffrey M Moslow"},{"person_name":"Michael W Howard","title":"TRUSTEE - START DATE 1/9/2024","average_hours_per_week":1.0,"average_hours_per_week_related_org":40.3,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":674939,"other_compensation":73129,"individual_trustee_or_director":true,"name":"Michael W Howard"},{"person_name":"PIERRE M OMIDYAR","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"PIERRE M OMIDYAR"},{"person_name":"ROBINSON JACOBS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"ROBINSON JACOBS"},{"person_name":"THOMAS L PAPPAS","title":"TRUSTEE","average_hours_per_week":1.0,"average_hours_per_week_related_org":0.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"name":"THOMAS L PAPPAS"},{"person_name":"Craig W Smith","title":"Chief Investment Officer","average_hours_per_week":5.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":549656,"other_compensation":73310,"key_employee":true,"name":"Craig W Smith"},{"person_name":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":377311,"other_compensation":42356,"key_employee":true,"name":"TRYFAN D EVANS"},{"person_name":"Anthony P Monaco","title":"TRUSTEE - END DATE 6/30/2023","average_hours_per_week":1.0,"average_hours_per_week_related_org":60.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":1034376,"other_compensation":136425,"highest_compensated_employee":true,"name":"Anthony P Monaco"},{"person_name":"Saheba Sahni","title":"Investment Officer","average_hours_per_week":40.0,"average_hours_per_week_related_org":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":215774,"other_compensation":12855,"highest_compensated_employee":true,"name":"Saheba Sahni"}]},"ScheduleA":{"public_charity_status":{"supporting_organization_509a3":true,"supporting_org_509a3_type1":true,"written_irs_determination":true},"supported_organizations":{"total_supported_organizations":1,"supported_organizations_count":1,"sum_of_amounts":1032000,"other_support_sum":0,"rows":[{"ein":42103634,"organization_type":"2","support_amount":1032000,"other_support_amount":0,"governing_document_listed":true,"name":"TRUSTEES OF TUFTS COLLEGE"}]},"supporting_organization_tests":{"contribution_35_controlled":false,"contribution_controller":false,"contribution_family":false,"controlled_by_disqualified_person":false,"disqualified_person_controlling_interest":false,"disqualified_person_ownership_interest":false,"excess_business_holdings_rules":false,"listed_by_name_governing_doc":true,"loan_disqualified_person":false,"organization_change_supported_org":false,"payment_substantial_contributor":false,"support_non_supported_org":false,"supported_org_not_organized_us":false,"supported_org_section_c456":false,"supporting_org_no_irs_determination":false,"type1_operate_benefit_non_supported_org":false,"type1_power_appoint_majority":true},"supplemental_information":{"part_vi":[{"form_and_line_reference":"Schedule A, Part I LINE 11(G)(V) - AMOUNT OF MONETARY SUPPORT","explanation":"TRUSTEES OF TUFTS COLLEGE (TUFTS), A SUPPORTED ORGANIZATION OF THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST (THE TRUST), PAID OPERATING COSTS FOR THE TRUST TOTALING $955,000 FOR THE YEAR-ENDED JUNE 30, 2024. THE TRUST REIMBURSED TUFTS FOR $897,000 OF THESE COSTS. CONSIDERING THE TIMING OF THE YEAR-END THE TRUST HAD UNDERPAID TUFTS APPROXIMATELY $58,000 WHICH IS CURRENTLY REFLECTED AS AN ACCOUNT PAYABLE TO TUFTS. THE OPERATING COSTS INCURRED BY THE TRUST INCLUDE SALARIES, BENEFITS AND OTHER GENERAL AND ADMINISTRATIVE COSTS. THE SALARIES AND BENEFITS COSTS ARE ATTRIBUTABLE TO EMPLOYEES OF TUFTS UNIVERSITY WHO MANAGE THE TRUST'S INVESTMENTS. FOR THE YEAR ENDED JUNE 30, 2024, THE TRUST PAID IN CASH $5,100,686 OF PREVIOUSLY ACCRUED GRANTS PAYABLE TO TUFTS AND had AN OUTSTANDING GRANT PAYABLE TO TUFTS FOR $1,819,845. THE CASH ASSOCIATED WITH THE GRANT WAS TRANSFERRED TO TUFTS BASED ON THE TRUST'S GRANT DISTRIBUTION GUIDELINES. FOR THE YEAR ENDED 6/30/24 $1,819,845 WILL BE TRANSFERRED TO TUFTS OVER A SHORT-TERM BASIS. THE TRUST PAYS INTEREST TO THE UNIVERSITY ON THE NON-CURRENT GRANTS PAYABLE AMOUNT. INTEREST PAYABLE AMOUNTED TO $77,000 AT JUNE 30, 2024. DURING YEAR ENDED JUNE 30, 2024, THE TRUST RECEIVED A LINE OF CREDIT OF $10,000,000 FROM TUFTS. THE LINE OF CREDIT IS USED FOR PORTFOLIO MANAGEMENT PURPOSES TO REDUCE THE NEED TO MAKE SHORT-TERM TRADES TO MAINTAIN CASH LEVELS DURING TRANSACTIONS AND MATURES IN SEPTEMBER 2026. THE AVERAGE RATE WAS 5.94% FOR 2024. AS OF JUNE 30, 2024 THE OUTSTANDING BALANCE ON THE LINE OF CREDIT FOR THE TRUST AMOUNTED TO $2,000,000."}]}},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"endowment_funds":{"current_year":{"beginning_year_balance":93564961,"contributions":0,"investment_earnings_or_losses":-3864256,"grants_or_scholarships":0,"other_expenditures":990271,"administrative_expenses":119196,"end_year_balance":88591238},"current_year_minus1":{"beginning_year_balance":102013729,"contributions":0,"investment_earnings_or_losses":-7395930,"grants_or_scholarships":0,"other_expenditures":991543,"administrative_expenses":61295,"end_year_balance":93564961},"current_year_minus2":{"beginning_year_balance":99719995,"contributions":1547580,"investment_earnings_or_losses":3421780,"grants_or_scholarships":1181588,"other_expenditures":1372587,"administrative_expenses":121451,"end_year_balance":102013729},"current_year_minus3":{"beginning_year_balance":82005163,"contributions":2875911,"investment_earnings_or_losses":30561878,"grants_or_scholarships":14838921,"other_expenditures":782506,"administrative_expenses":101530,"end_year_balance":99719995},"current_year_minus4":{"beginning_year_balance":96113870,"investment_earnings_or_losses":-13272707,"other_expenditures":730334,"administrative_expenses":105666,"end_year_balance":82005163},"board_designated_eoy_percentage":0.0,"permanent_endowment_eoy_percentage":0.0,"term_endowment_eoy_percentage":1.0,"held_by_unrelated_organizations":false,"held_by_related_organizations":false},"securities":{"other_securities":[{"description":"VENTURE CAPITAL","book_value":5462846,"method_of_valuation":"F"},{"description":"PRIVATE EQUITY","book_value":83119612,"method_of_valuation":"F"},{"description":"PRIVATE REAL ESTATE","book_value":2992985,"method_of_valuation":"F"}],"total_book_value":91575443},"other_liabilities":{"liabilities":[{"description":"Interest Payable-Related Party","amount":76615},{"description":"LINE OF CREDIT","amount":2000000}],"total_liability":2076615,"footnote_text":true},"revenue_reconciliation":{"total_revenue_audited_financial_statements":-3864256,"net_unrealized_gains_investments":-2120489,"other_revenue":0,"revenue_not_reported":-2120489,"revenue_subtotal":-1743767,"other_revenues_not_included":0,"revenue_not_reported_financial_statement":0,"total_revenue_per_990":-1743767},"expense_reconciliation":{"total_expenses_audited_financial_statements":1109467,"other_expenses_included":0,"expenses_not_reported":0,"expenses_subtotal":1109467,"other_expenses_not_included":0,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":1109467},"supplemental_information":[{"form_and_line_reference":"Schedule D, Part V, Line 4 Intended uses of endowment funds","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST INTENDS TO USE THE ENDOWMENT FUNDS TO ACHIEVE MISSION RELATED ACTIVITIES BY MAKING INVESTMENTS THAT PROMOTE: ECONOMIC INCLUSION, HEALTH & WELLNESS, REAL ESTATE, EDUCATION, ACCESS TO ENERGY AND NATURAL RESOURCES, AND SOCIAL INSTITUTIONS."},{"form_and_line_reference":"Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote","explanation":"The Trust has an exemption from federal and state income tax under Section 501(c)(3) of the Internal Revenue Code and accordingly, no provision for income taxes is included in the financial statements. US GAAP requires the Trust to evaluate tax positions taken by the Trust and recognize a tax liability (or asset) if the Trust has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Trust has analyzed the tax positions taken and has concluded that as of June 30, 2024, there are no significant uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements."}]},"ScheduleF":{"regions":[{"region":"Central America and the Caribbean","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":6687000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":22638000,"employees":0,"offices":0},{"region":"North America (Canada & Mexico only)","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":393000,"employees":0,"offices":0},{"region":"Sub-Saharan Africa","activity_type":"Program Services","services":"INVESTMENTS","total_expenditures":3754000,"employees":0,"offices":0},{"region":"Europe (Including Iceland and Greenland)","activity_type":"Program Services","services":"TRAVEL FOR MISSION RELATED ACTIVITIES","total_expenditures":7459,"employees":0,"offices":0}],"part_i_totals":{"total_offices":0,"total_employees":0,"total_spent":33479459,"subtotal_offices":0,"subtotal_employees":0,"subtotal_spent":33479459,"continuation_total_offices":0,"continuation_total_employees":0,"continuation_spent":0},"foreign_forms":{"transfer_to_foreign_corporation":true,"interest_in_foreign_trust":false,"foreign_corporation_ownership":true,"passive_foreign_investment_company":true,"foreign_partnership":true,"boycott_countries":false},"supplemental_information":[{"form_and_line_reference":"Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements","explanation":"CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SUB-SAHARAN AFRICA-Accrual"}],"grant_monitoring":{"monitoring_description":"CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SUB-SAHARAN AFRICA-Accrual","form_and_line_reference":"Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements"}},"ScheduleJ":{"compensation_process":{"compensation_survey_or_study":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":false,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":true,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"person_name":"Michael W Howard","title":"TRUSTEE - START DATE 1/9/2024","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":649278,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":41490,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":31639,"other_compensation_filing_org":0,"other_compensation_related_orgs":25661,"total_compensation_filing_org":0,"total_compensation_related_orgs":748068,"name":"Michael W Howard"},{"person_name":"TRYFAN D EVANS","title":"DIRECTOR OF INVESTMENTS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":45800,"compensation_based_on_related_orgs":330734,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":48623,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":41490,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":866,"other_compensation_filing_org":0,"other_compensation_related_orgs":777,"total_compensation_filing_org":0,"total_compensation_related_orgs":419667,"name":"TRYFAN D EVANS"},{"person_name":"Craig W Smith","title":"Chief Investment Officer","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":44762,"compensation_based_on_related_orgs":504052,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":47748,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":41490,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":31820,"other_compensation_filing_org":0,"other_compensation_related_orgs":842,"total_compensation_filing_org":0,"total_compensation_related_orgs":622966,"name":"Craig W Smith"},{"person_name":"Saheba Sahni","title":"Investment Officer","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":8274,"compensation_based_on_related_orgs":207358,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":8772,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":12726,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":129,"other_compensation_filing_org":0,"other_compensation_related_orgs":142,"total_compensation_filing_org":0,"total_compensation_related_orgs":228629,"name":"Saheba Sahni"},{"person_name":"Anthony P Monaco","title":"TRUSTEE - END DATE 6/30/2023","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":984880,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":41490,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":94935,"other_compensation_filing_org":0,"other_compensation_related_orgs":49496,"total_compensation_filing_org":0,"total_compensation_related_orgs":1170801,"name":"Anthony P Monaco"}],"supplemental_information":[{"form_and_line_reference":"Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan","explanation":"CRAIG W. SMITH, CHIEF INVESTMENT OFFICER, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOWS FOR UP TO 100% OF BASE SALARY EARNINGS. HE RECEIVED A PAYOUT AMOUNT OF $44,762 IN 2023. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7. TRYFAN D. EVANS, DIRECTOR OF INVESTMENTS, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOW FOR UP TO 96% OF BASE SALARY EARNINGS. HE RECEIVED A PAYOUT AMOUNT OF $45,800 IN 2023. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7. SAHEBA SAHNI, INVESTMENT OFFICER, PARTICIPATED IN AN EMPLOYEE INCENTIVE COMPENSATION PLAN THAT IS BASED OFF OF JOB AND PORTFOLIO PERFORMANCE WHICH ALLOW FOR UP TO 60% OF BASE SALARY EARNINGS. SHE RECEIVED A PAYOUT AMOUNT OF $8,274 IN 2023. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(II). THE TERMS OF THE INCENTIVE PAYOUTS INCLUDE A VESTING SCHEDULE COVERING TWO YEARS WHICH ALLOW FOR 50% IN YEAR ONE AND 50% IN YEAR TWO . THE ACTUAL INCENTIVE PAYOUTS ARE MADE IN THE SECOND FISCAL QUARTER FOLLOWING THE CLOSE OF THE FISCAL YEAR TO WHICH THE INCENTIVE PAYMENT APPLIES. TOTAL CURRENT-YEAR EARNED INCOME DEFERRAL AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AND THE AMOUNT PAID TO THIS INDIVIDUAL IS FURTHER EXPLAINED ON SCHEDULE J, PART I, LINE 7."},{"form_and_line_reference":"Schedule J, Part I, Line 7 Non-fixed payments","explanation":"THE THREE INVESTMENT OFFICERS ARE EMPLOYEES OF TRUSTEES OF TUFTS COLLEGE AND PARTICIPATED IN A DISCRETIONARY INCENTIVE PLAN AND RECEIVED NON-FIXED PAYMENTS FOR INDIVIDUAL JOB PERFORMANCE AND FOR ACHIEVING CERTAIN GOALS AND OBJECTIVES. THESE AMOUNTS ARE A COMPONENT OF THE TOTAL REPORTABLE AMOUNTS AS EXPLAINED ON SCHEDULE J, LINE 4(B) AND ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II)"},{"form_and_line_reference":"Schedule J, Part III SCH J, PART II","explanation":"THE OMIDYAR-TUFTS ACTIVE CITIZENSHIP TRUST (THE TRUST) DOES NOT HAVE ITS OWN EMPLOYEES. THE SALARY EXPENSE, BENEFITS AND PAYROLL TAXES REPORTED WITHIN PART IX, FUNCTIONAL EXPENSES, REPRESENT OPERATING EXPENSE REIMBURSEMENTS TO THE TRUSTEES OF TUFTS COLLEGE (TUFTS) FOR USE OF ITS EMPLOYEES. FURTHER, ANY RELATED ORGANIZATION AMOUNTS LISTED REFLECT INCENTIVE PAYMENTS TIED DIRECTLY TO TUFTS OR THE TRUST INCENTIVE PLANS."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":42103634,"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","primary_activities_text":"EDUCATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"2","controlled_organization_indicator":false,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"NA","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"TRUSTEES OF TUFTS COLLEGE","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"ein":43419100,"business_name_line1":"WALNUT HILL PROPERTIES CORP","primary_activities_text":"REAL ESTATE MANAGEMENT","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"14 CAPEN STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"WALNUT HILL PROPERTIES CORP","address":"14 CAPEN STREET, MEDFORD, MA, 02155"},{"ein":237000827,"business_name_line1":"TUFTS SHARED SERVICES INC","primary_activities_text":"COORDINATE HEALTH & EDUCATIONAL SERVICES","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"171 HARRISON AVE PO BOX 634","city":"BOSTON","state":"MA","zip":"02111","name":"TUFTS SHARED SERVICES INC","address":"171 HARRISON AVE PO BOX 634, BOSTON, MA, 02111"},{"ein":43430674,"business_name_line1":"TUFTS VETERINARY (SEE ATTACHED)","primary_activities_text":"VETERINARY EMERGENCY TREATMENT & CARE","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"200 WESTBOROUGH ROAD","city":"NORTH GRAFTON","state":"MA","zip":"02158","name":"TUFTS VETERINARY (SEE ATTACHED)","address":"200 WESTBOROUGH ROAD, NORTH GRAFTON, MA, 02158"},{"ein":43236078,"business_name_line1":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","primary_activities_text":"VEBA","exempt_code_section_text":"501(c)(9)","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"TUFTS UNIVERSITY POST-RETIREMENT PLAN","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"ein":474543971,"business_name_line1":"TUFTS GLOBAL INC","primary_activities_text":"FOREIGN OPERATIONS SUPPORT ORGANIZATION","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"Type I","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","name":"TUFTS GLOBAL INC","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"ein":46111643,"business_name_line1":"CIVIC EDUCATION FOUNDATION","primary_activities_text":"RAISE CIVIC AWARENESS","exempt_code_section_text":"501(c)(3)","public_charity_status_text":"10","controlled_organization_indicator":true,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","address_line2":"ATTN TAX DEPT","city":"MEDFORD","state":"MA","zip":"02155","name":"CIVIC EDUCATION FOUNDATION","address":"80 GEORGE STREET, ATTN TAX DEPT, MEDFORD, MA, 02155"}],"taxable_corporations_and_trusts":[{"ein":43184043,"business_name_line1":"JM HOLDINGS INC","primary_activity":"REAL ESTATE DEVELOPMENT","ownership_percentage":1.0,"share_of_total_income":6044,"share_of_end_of_year_assets":30723,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"JM HOLDINGS INC","address":"80 GEORGE STREET, MEDFORD, MA, 02155"},{"business_name_line1":"PERPETUAL TRUSTS - (7)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"PERPETUAL TRUSTS - (7)","address":"80 George Street, Medford, MA, 02155"},{"business_name_line1":"CHARITABLE REMAINDER UNITRUSTS - (25)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE REMAINDER UNITRUSTS - (25)","address":"80 George Street, Medford, MA, 02155"},{"business_name_line1":"CHARITABLE LEAD TRUSTS - (1)","primary_activity":"SUPPORT","legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 George Street","city":"Medford","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":false,"name":"CHARITABLE LEAD TRUSTS - (1)","address":"80 George Street, Medford, MA, 02155"},{"ein":516581922,"business_name_line1":"TUFTS UNIVERSITY CHARITABLE TRUST","primary_activity":"SUPPORT","ownership_percentage":1.0,"share_of_total_income":-205428,"share_of_end_of_year_assets":138234,"legal_domicile_foreign_country":"HK","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET ATTN TAX DEPT","city":"MEDFORD","state":"MA","zip":"02155","entity_type_text":"Trust","controlled_organization_indicator":true,"name":"TUFTS UNIVERSITY CHARITABLE TRUST","address":"80 GEORGE STREET ATTN TAX DEPT, MEDFORD, MA, 02155"},{"ein":475489178,"business_name_line1":"BRAINGATE INC","primary_activity":"PATENT HOLDINGS","ownership_percentage":1.0,"share_of_total_income":-5304,"share_of_end_of_year_assets":90000,"legal_domicile_state":"MA","direct_controlling_business_name_line1":"TRUSTEES OF TUFTS COLLEGE","address_line1":"80 GEORGE STREET","city":"MEDFORD","state":"MA","zip":"02155","entity_type_text":"C Corporation","controlled_organization_indicator":true,"name":"BRAINGATE INC","address":"80 GEORGE STREET, MEDFORD, MA, 02155"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":true,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":true,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":true},"transactions":[{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":955000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"M","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":897000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"P","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":5100686,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"R","name":"TRUSTEES OF TUFTS COLLEGE"},{"business_name_line1":"TRUSTEES OF TUFTS COLLEGE","amount_involved":2000000,"method_of_amount_determination":"FAIR MARKET VALUE","transaction_type":"E","name":"TRUSTEES OF TUFTS COLLEGE"}],"supplemental_information":[{"form_and_line_reference":"Schedule R, Part IV, Column (a) TRUSTS","explanation":"THE PERPETUAL and CHARITABLE REMAINDER TRUSTS, and Charitable Lead Trusts ARE DOMICILED IN CALIFORNIA, MASSACHUSETTS, NEW JERSEY, AND TEXAS."},{"form_and_line_reference":"Schedule R, Part II, Column (a) TUFTS VETERINARY","explanation":"TUFTS VETERINARY EMERGENCY TREATMENT & SPECIALTIES INC."}]},"Ratings":{"Mission Deployment Rate":{"score":null},"Program Expense Ratio":{"score":0.8925646278798739},"Fundraising Efficiency":{"score":null,"percentile":null},"Filing Consistency Score":{"score":1.0},"Grant Itemization Coverage":{"score":null},"Independent Voting Board Pct":{"score":0.8},"Operating Margin":{"score":-1.6362472738617029,"percentile":0.0539114104390623},"Operating Reserve Ratio":{"score":83.48847058993192,"percentile":0.9863808759204916},"Liabilities to Assets Ratio":{"score":0.04357729781985417,"percentile":0.40916352727780103},"Officer Compensation Ratio":{"score":0.3047183918043529,"percentile":0.15490046369578578},"Program Expense Growth":{"score":0.16342494115477063,"percentile":0.8053251789415088},"Revenue Growth":{"score":null,"percentile":null},"Asset Growth":{"score":-0.011920227932265954,"percentile":0.2791251773422311},"Foreign Oversight Score":{"score":null},"Major-Donor Itemization":{"score":null},"Related-Party Transparency":{"score":1.0},"Pay-Setting Controls":{"score":0.16666666666666666,"weight":5,"atoms":{"Compensation committee":{"value":false},"Independent compensation consultant":{"value":false},"Form 990 of other organizations reviewed":{"value":false},"Written employment contract":{"value":false},"Compensation survey or study":{"value":true},"Board or committee approval":{"value":false}}},"Governance Policy Score":{"score":0.8888888888888888,"weight":5,"atoms":{"Conflict of interest policy":{"value":true},"Whistle blower policy":{"value":true},"Document retention policy":{"value":true},"Compensation process for CEO":{"value":true},"Compensation process for other employees":{"value":false},"Form 990 provided to governing body":{"value":true},"Minutes of governing body":{"value":true},"Audit committee":{"value":true},"Independent audit financial statements":{"value":true}}},"Categories":{"Financial Efficiency":{"score":0.8925646278798739,"weight":45},"Transparency & Controls":{"score":0.7222222222222222,"weight":20},"Accountability":{"score":0.837037037037037,"weight":14},"Sustainability":{"score":0.3818425673565959,"weight":13},"Growth":{"score":0.6299251784084162,"weight":8}},"Overall Score":{"score":0.7633172602046037,"percentile":0.5482401949563763}},"source_xml":"202511339349305041_public.xml"},"sector":"International, Foreign Affairs","donation_categories":[],"zakat_policy":null},"error":null}