Mojaloop Foundation Inc

Nonprofit profile at a glance

EIN
850922903
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Wakefield, MA, USA
Phone
7812460500
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
International Relief

Reported finances

Revenue
$5,455,729
Expenses
$4,489,624
Assets
$5,553,280
Liabilities
$391,287

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • PAULA HUNTER (EXECUTIVE DIRECTOR & SECRETARY)

People named in this filing

  • KONSTANTIN PERIC (CHAIR)
  • ROBERT RON (TREASURER)
  • ADAMA DIALLO (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to increase financial inclusion by empowering organizations creating interoperable payments systems to enable digital financial services for all.

What it reported doing in 2024

The organization maintains the free, open source software, mojaloop, and its community as public goods in service of financial inclusion. Merchants, central banks, service providers, government offices, and other entities looking to build inclusive payments platforms can use mojaloop--whole, adapted, or as a real-time payments reference model. Membership is open to mission-driven, non-governmental and technology entities focused on advancing financial inclusion. Training, events, and other educational activities are provided to the community, and participation in the community is open and free to all.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 66
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.9%; rating input score 66
  • Program expense ratio: 79.7%; rating input score 80
  • Fundraising efficiency: $23.67 raised per $1 spent on fundraising; rating input score 64; 64th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 17.7%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 1.24; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 65; 65th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 32.1% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 27.2% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 30.1% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 65.9% of revenue deployed · 79.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3.6M in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Highest-paid contractors: 5 contractors listed · $1.8M reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.