Pact Global Microfinance Fund

Nonprofit profile at a glance

EIN
455008824
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2024665666
Rating
36
Verdict
REVIEW
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$2,178,249
Expenses
$0
Assets
$20,563,440
Liabilities
$4,540,968

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

Leadership & pay

8 people listed

Executive titles in this filing

  • DENNIS VEGA (PRESIDENT & CEO (AS OF 8/24))
  • CAROLINE ANSTEY (FORMER PRES & CEO (THRU 6/24))

Highest reported compensation

  • MARIA BARTON (SECRETARY (THRU 11/24)): $358,350 total reported compensation
  • CAROLINE ANSTEY (FORMER PRES & CEO (THRU 6/24)): $279,895 total reported compensation
  • DENNIS VEGA (PRESIDENT & CEO (AS OF 8/24)): $237,229 total reported compensation

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

Overview

Mission

Pgmf's mission was for people with limited livelihood choices to gain the resources needed to be income secure.

What it reported doing in 2024

As a non-profit lender, pact global microfinance fund improved the lives of poor and marginalized families in myanmar by providing loans and training to launch small businesses, build income and save for the future. Due to government of myanmar restrictions, pgmf's operations closed on june 30, 2023. In fy25, pact continues to work with lenders to repay loans within myanmar.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 5
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.22; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -32.6% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -1.7% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -3.1% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 3 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $358K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.