KIVA MICROFUNDS

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

BRYAN WOLINER

Phone

8284795482

Tax Period

2024-07-01 to 2025-06-30

KIVA MICROFUNDS, founded in 2005, is a mid-sized nonprofit in the International Affairs sector that reported $39.8M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $34.5M left a modest 13% surplus.

Mission

KIVA IS A NON-PROFIT ORGANIZATION WITH A MISSION TO EXPAND FINANCIAL ACCESS TO HELP UNDERSERVED COMMUNITIES THRIVE BY PROVIDING AN ONLINE PLATFORM THAT FACILITATES MICROLOANS GLOBALLY; BEING A MANAGER OF IMPACT INVESTMENT FUNDS (AS AN EXEMPT REPORTING ADVISER).

Program Service Accomplishments

Program 1

Expenses: $25,488,781 Revenue: $2,012,017

KIVA PARTNERS WITH 206 ACTIVE GLOBAL MICROFINANCE INSTITUTIONS ("MFIS") AND OTHER SOCIALLY MINDED ORGANIZATIONS AND ENTERPRISES IN NINETY-SIX (96) COUNTRIES. THIS NETWORK OF PARTNERSHIPS ENABLES KIVA TO CONNECT WITH BORROWERS SEEKING MICRO-LOANS. KIVA'S PARTNER ORGANIZATIONS ARE RESPONSIBLE FOR SELECTING AND VETTING THE BORROWERS AND ADMINISTERING THE LOANS. KIVA'S ONLINE PLATFORM CONNECTS THESE BORROWERS WITH INDIVIDUALS WHO WANT TO CONTRIBUTE LOAN FUNDS VIA THE INTERNET.KIVA ALSO FACILITATES DIRECT LOANS TO INDIVIDUALS IN THE UNITED STATES.KIVA CREATED KIVA- DAF, LLC ("KDAF") IN 2013 TO HOLD DONOR ADVISED FUNDS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $33,841,076

Program Service Revenue $1,000,751

Investment Income $3,896,379

Other Revenue $1,036,876

TOTAL REVENUE $39,775,082

Expense Breakdown

Grants Paid $209,478

Salaries & Benefits $17,825,165

Fundraising Expenses $3,128,538

Program Expenses $25,488,781

Other Expenses $16,509,824

TOTAL EXPENSES $34,544,467

Year-over-Year Comparison

	2024	2023	Change
Revenue	$39,775,082	$34,294,683	+0.2%
Expenses	$34,544,467	$35,435,612	0.0%
Net Income	$5,230,615	$-1,140,929	-5.6%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✓ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

137

Volunteers

460

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✓ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,461,208

Total Directors

$661,577

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIE HANNA FARRIS	BOARD OF DIRECTOR	10.00	Director	$0	$0	$108,000
JOHN MULLER	BOARD OF DIRECTOR	1.00	Director	$0	$0	$0
MAYA CHORENGEL	BOARD OF DIRECTOR	1.00	Director	$0	$0	$0
ANDRE HADDAD	BOARD OF DIRECTOR	1.00	Director	$0	$0	$0
SILVIJA MARTINCEVIC	BOARD OF DIRECTOR	1.00	Director	$0	$0	$0
VISHAL GHOTGE	CEO	40.00	Officer Director	$536,837	$16,740	$553,577
REID HOFFMAN	BOARD OF DIRECTOR	1.00	Director	$0	$0	$0
AUSTIN CHOI	GENERAL COUNSEL	40.00	Officer	$377,460	$16,740	$394,200
DONALD CARTER	EXEC. VP, PEOPLE & PLACES	40.00	Officer	$306,562	$16,740	$323,302
KATHLEEN GUIS	EXEC. VP, IMPACT INV	40.00	Officer	$277,951	$16,740	$294,691
ANNA TITULAER	EXEC. VP, PARTNERSHIPS & COMMUNICATIONS	40.00	Officer	$285,524	$16,740	$302,264
VICTOR PAULSAMY	CTO	40.00	Officer	$380,169	$16,740	$396,909
RICHARD CARTER-BROWN	INTERIM CFO	40.00	Officer	$179,525	$16,740	$196,265
NATHAN GEORGE	SENIOR DIRECTOR, ENGINEERING	40.00	Highest	$262,628	$14,240	$276,868
PRADEEP RAGOTHAMAN	DIRECTOR OF DATA SCIENCE	40.00	Highest	$238,292	$16,740	$255,032
MARGO JOHNSON	SENIOR DIRECTOR, PRODUCT	40.00	Highest	$229,133	$16,740	$245,873
SHEHAAM HOUKAL	SENIOR DIRECTOR, PRODUCT	40.00	Highest	$234,066	$16,740	$250,806
HENRY W HOBBS	DIRECTOR OF SOFTWARE DEVELOPMENT	40.00	Highest	$214,990	$14,240	$229,230

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$39,775,082	$34,544,467	$209,958,219	$5,230,615
2024	$34,294,683	$35,435,612	$219,677,619	$-1,140,929
2023	$34,727,565	$37,635,582	$238,841,357	$-2,908,017
2022	$14,808,996	$21,067,658	$253,233,825	$-6,258,662
2022	$14,808,996	$21,067,658	$253,233,825	$-6,258,662
2021	$42,407,113	$35,400,319	$245,372,729	$7,006,794
2020	$38,603,028	$30,902,781	$38,469,820	$7,700,247
2019	$19,945,312	$26,934,227	$29,265,474	$-6,988,915
2018	$23,183,659	$18,715,309	$46,231,095	$4,468,350