Womens Microfinance Initiative Corporation
Womens Microfinance Initiative Corporation
8609 FENWAY DR
Bethesda MD 20817-2709
Bethesda MD | IRS ruling year: 2008 | EIN: 26-1384627
Organization Mission
Mission not available
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8609 FENWAY DR
Bethesda MD 20817-2709
Bethesda MD | IRS ruling year: 2008 | EIN: 26-1384627
Organization Mission
Mission not available
Great
This charity's score is 96%, earning it a Four-Star rating. If this organization aligns with your passions and values, you can give with confidence.
This overall score is calculated from multiple beacon scores, weighted as follows: 85% Accountability & Finance, 10% Leadership & Adaptability, 5% Culture & Community. Learn more about our criteria and methodology.
We recognize that not all metrics and beacons equally predict a charity’s success. The percentage each beacon contributes to the organization’s overall rating depends on the number of beacons an organization has earned.
Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned.
Rating histories are available for a growing number of rated organizations. Check back later to see if this organization has a rating history!
Womens Microfinance Initiative Corporation has earned a 95% for the Accountability & Finance beacon. See the metrics below for more information.
This beacon provides an assessment of a charity's financial health (financial efficiency, sustainability, and trustworthiness) and its commitment to governance practices and policies.
This Accountability & Finance score represents IRS Form 990 data up until FY 2021, which is the most recent Form 990 currently available to us.
Learn more
Charity Navigator looks for at least 3 board members, with more than 50% of those members identified as independent (not salaried).
The presence of an independent governing body is strongly recommended by many industry professionals to allow for full deliberation and diversity of thinking on governance and other organizational matters.
Source: IRS Form 990
An Audit, Review, or Compilation provides important information about financial accountability and accuracy. Organizations are scored based on their Total Revenue Amount:
Total Revenue Amount | Expectation to Receive Credit |
---|---|
$1 million or higher | Expected to complete an audit |
$500,000 - $1 million | Expected to complete an audit, review, or compilation |
Less than $500,000 | No expectation (removed from scoring methodology) |
Source: IRS Form 990
Charity Navigator looks for the existence of a conflict of interest policy on the Form 990 as an accountability and transparency measure.
This policy protects the organization and by extension those it serves, when it is considering entering into a transaction that may benefit the private interest of an officer, director and/or key employee of the organization.
Source: IRS Form 990
Charity Navigator looks to confirm on the Form 990 that the organization has this process in place as an accountability and transparency measure.
An official record of the events that take place during a board meeting ensures that a contemporaneous document exists for future reference.
Source: IRS Form 990
Charity Navigator looks for the existence of a document retention and destruction policy per the Form 990 as an accountability and transparency measure.
This policy establishes guidelines for the handling, backing up, archiving and destruction of documents. These guidelines foster good record keeping procedures that promote data integrity.
Source: IRS Form 990
Charity Navigator looks for the existence of a whistleblower policy per the Form 990 as an accountability and transparency measure.
This policy outlines procedures for handling employee complaints, as well as a confidential way for employees to report financial or other types of mismanagement.
Source: IRS Form 990
Charity Navigator looks for a website on the Form 990 as an accountability and transparency metric.
Nonprofits act in the public trust and reporting publicly on activities is an important component.
Source: IRS Form 990
The Liabilities to Assets Ratio is determined by Total Liabilities divided by Total Assets (most recent 990). This ratio is an indicator of an organization’s solvency and/or long-term sustainability.
Liabilities to Assets Ratio | Amount of Credit Received |
---|---|
Less than 50% | Full Credit |
50% - 59.9% | Partial Credit |
60% or more | No Credit |
Source: IRS Form 990
The Program Expense Ratio is determined by Program Expenses divided by Total Expense (average of most recent three 990s). This measure reflects the percent of its total expenses a charity spends on the programs and services it exists to deliver.
Program Expense Percentage | Amount of Credit Received |
---|---|
70% or higher | Full Credit |
60% - 69.9% | Partial Credit |
50% - 59.9% | Zero Points for Program Expense Score |
Below 50% | Zero Points for Both Program Expense AND Liabilities to Assets Scores |
Source: IRS Form 990
No Data Available
Revenue and expense data is not available for this organization. This data is only available if this charity has at least one year of electronically-filed Form 990 data filed within the last six years.
No Data Available
Key Persons data is currently unavailable for this organization. This data is only available if this charity has at least one year of electronically-filed Form 990 data filed within the last six years.
Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. Learn more about the BMF on the IRS website
Foundation Status:
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi) (BMF foundation code: 15)
Affiliation:
Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations). (BMF affiliation code: 3)
The Form 990 is a document that nonprofit organizations file with the IRS annually. We leverage finance and accountability data from it to form Encompass ratings. Click here to search for this organization's Forms 990 on the IRS website (if any are available). Simply enter the organization's name (Womens Microfinance Initiative Corporation) or EIN (261384627) in the 'Search Term' field.
This organization was impacted by COVID-19 in a way that effected their financial health in 2020. This normally would have reduced their star rating. Due to the unprecedented nature of the pandemic, we give charities such as this one the opportunity to share the story of COVID's impact on them, and doing this pauses our revision of their rating. Charities may submit their own pandemic responses through their nonprofit portal.
Womens Microfinance Initiative Corporation reported being impacted by COVID-19 in the following ways:
Program Delivery
Staffing
Administrative Capacity
How COVID-19 impacted the organization's operations financially:
The structure of WMI is a grant making organization run by a volunteer board of directors. We were able to continue operations (mainly fundraising). Our local operations in East Africa however had to reduce loan operations during the lockdowns in 2020. They quickly revised their operating budgets to accommodate the projected loss of loan revenue. Some staff had to be laid-off, but most took a pay cut. Only essential expenses were approved. New strategies and protocols were put in place to collect loan payments safely and WMI made grants to provide necessary supplies to safely conduct business such as PPE, thermometers, disinfectants, and masks. We also responded to requests for emergency food distribution for our borrowers in the Maasai Mara and orphans in Buyobo, Uganda.
How COVID-19 impacted the organization's delivery of programs:
Beginning in March of 2020, East Africa closed its markets and borders to stem the spread of the pandemic COVID virus. Although the virus spread slower than anticipated, the lockdowns had a disproportional economic impact on the rural areas in which we operate our loan programs. As a result of government-mandated shutdowns and violence, many of our borrowers’ businesses slowed or even shut down temporarily. The largest percentage of our women grow and sell agricultural and value-added products at open-air local markets that were closed for an extended time. Although business slowly resumed and our borrowers found new ways to sell their goods, they had to do so at lower prices. Loan recovery was slow, borrowers tried to reduce their loan balances and our staff worked hard to make the collections. We want to keep our borrowers in business. We worked with them to restructure the loans. In many cases, the situation was such that loan forgiveness was the best alternative.
How this organization adapted to changing conditions caused by COVID-19:
Typically, our programs have low default rates and are able to cover lost loan capital from their excess program income. Because of the size of the Covid-related losses, WMI restored the loan programs' capital funds, replacing approximately $50,000 in loan capital, secured from two foundation grants.
Innovations the organization intends to continue permanently after the pandemic:
As a grass-roots organization we always look to local leadership to provide direction when a change of process or policy is needed. Our on-the-ground staff are nimble and can pivot when necessary.
Not Currently Scored
Womens Microfinance Initiative Corporation cannot currently be evaluated by our Impact & Results methodology because either (A) it is eligible, but we have not yet received data; (B) we have not yet developed an algorithm to estimate its programmatic impact; (C) its programs are not direct services; or (D) it is not heavily reliant on contributions from individual donors.
Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization.
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No 990 Program Data Found
Womens Microfinance Initiative Corporation has earned a 100% for the Culture & Community beacon. See the metrics below for more information.
This beacon provides an assessment of the organization's culture and connectedness to the community it serves.
Learn more
100% of beacon score
This organization reported that it is collecting feedback from the constituents and/or communities it serves. Charity Navigator believes nonprofit organizations that engage in inclusive practices, such as collecting feedback from the people and communities they serve, may be more effective.
Who are the people you serve with your mission? Describe briefly.
WMI has operated successfully in East Africa since 2008, when we launched our two-year Basic Program by providing skills training and loans to 20 widows in rural Buyobo, Uganda. Since then, we have expanded to hundreds of small villages across Uganda, Tanzania, and Kenya, issuing over 72,000 loans totaling over $9.2 million. Our program works because we continually evaluate and adapt in consultation with our local partners. We collect and maintain extensive records that document the socio-economic impacts of the loan program on borrowers, their families, and the community. We utilize survey information to better understand the population we serve and design products and services that meet their needs. These records are analyzed and compiled to develop WMI’s Annual Factbook.
How is your organization collecting feedback from the people you serve?
Focus groups or interviews (by phone or in person), Paper surveys, Community meetings or town halls
How is your organization using feedback from the people you serve?
To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve
With whom does your organization share the feedback you got from the people you serve?
The people we serve, Our staff, Our board, Our funders, Our community partners
How has asking for feedback from the people you serve changed your relationship with them or shifted power - over decisions, resources, rules or in other ways - to them?
WMI's programs and operations are grass-roots based, with decision making coming from the local village level. WMI provides the financial resources and guidance to help our ladies run a program that works for them. The WMI program’s goal is to integrate women into the mainstream economy where they can use their business profits to improve household living conditions for themselves and their families. As borrowers gain business experience, they become empowered and self-confident, developing into advocates for themselves, their families, and their communities. Our women borrowers become more powerful in their communities.
What challenges does your organization face in collecting feedback from the people you serve?
We don't have any major challenges to collecting feedback
Briefly describe a recent change that your organization made in response to feedback from the people you serve.
Commercial bank loans continue to be too expensive for our rural women borrowers. To accommodate their needs, we now offer jumbo loans to our best borrowers who have graduated successfully from our two-year training program. These size of these loans ranges from double to triple the size of our regular loans and may have a longer repayment cycle. We are currently exploring offering longer-term agricultural loans for our seasoned borrowers engage in agricultural activities. Because the growing season does not coincide with the loan terms of our traditional loan products, some borrowers regularly fall behind on their semi-monthly payments because they are waiting to harvest their crops.
The organization reported that it is currently only implementing 2 Equity Practices. At this time, organizations must implement 3 or more of these practices in order to be scored on this metric. Charity Navigator believes nonprofit organizations implementing effective equity policies and practices can enhance a nonprofit's decision-making, staff motivation, innovation, and effectiveness.
Equity Practices (1/7) | |
---|---|
We review compensation data across the organization (and by staff levels) to identify disparities by race. | |
We ask team members to identify racial disparities in their programs and/or portfolios. | |
We analyze disaggregated data and root causes of race disparities that impact the organization/'s programs, portfolios, and the populations served. | |
We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support. | |
We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders. | |
We disaggregate data by demographics, including race, in every policy and program measured | |
We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization. |
Equity Policies and Procedures (1/7) | |
---|---|
We use a vetting process to identify vendors and partners that share our commitment to race equity. | |
We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions. | |
We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization. | |
We have community representation at the board level, either on the board itself or through a community advisory board. | |
We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability. | |
We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team. | |
We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization. |
Womens Microfinance Initiative Corporation has earned a 100% for the Leadership & Adaptability beacon. See the metrics below for more information.
This beacon provides an assessment of the organization's leadership capacity, strategic thinking and planning, and ability to innovate or respond to changes in constituent demand/need or other relevant social and economic conditions to achieve the organization's mission.
Learn more
The nonprofit organization presents evidence of strategic thinking through articulating the organization's mission
WMI's mission is to establish village-level loan hubs, administered by local women, to provide capital, training and support services to rural women in the lowest income brackets in East Africa so that they can engage in income producing activities.
The nonprofit organization presents evidence of strategic thinking through articulating the organization’s vision.
WMI is a comprehensive microlending and training organization serving rural villages in Uganda, Kenya, and Tanzania. WMI has developed a unique economic platform that functions exceedingly well at the village-level. Loans are distributed through multiple, rural loan hub centers, with each borrower receiving four loans over the span of two years in our Basic Program. During each six-month cycle, borrowers make ten repayments with 10% flat interest. The interest collected remains in each loan hub’s bank account and is used to pay for all local operational costs and outreach programs. The loan hubs are managed by village women WMI has trained and frequently operate in collaboration with another non-profit partner providing outreach services to the local community. This model allows WMI’s loan hubs to become self-sustaining; each loan program can continue operating indefinitely without receiving additional financial support, as long as borrowers repay their loans consistently.
Source: Nonprofit submitted responses
The nonprofit organization presents evidence of strategic thinking and goal setting through sharing their most important strategic goals.
Goal One: WMI's goal is to help women build assets so that they can stabilize their income, raise their standard of living and reorient themselves and their families.
Goal Type: Grow, expand, scale or increase access to the existing programs and services.
Goal Two: Borrower Training - Business, literacy and numeracy training helps our women keep good records and build a track record that they can use in dealing with traditional financial institutions.
Goal Type: Focus on core programs to achieve mission and scale back on programs not seen as core.
Goal Three: Build proper infrastructure at the village level -- offices and meeting spaces with latrines that accommodate program participants and are easily accessible (within walking distance) by rural women.
Goal Type: This goal reflects our commitment to further our advocacy work for our organization and or cause area.
The nonprofit provides evidence of investment in leadership development
All of our staff are former borrowers from poor, rural parts of East Africa. While many are skilled teachers, they do not come to the program with a business background. They have received training in record keeping, using computers, and in basic loan operations such as business plan development, borrower training, loan issuance and collections. They have attended Train to Train sessions to learn how to pass their knowledge on to new staff as the WMI program expands.
The nonprofit provides evidence of leadership through focusing externally and mobilizing resources for the mission.
Strategic Partnerships
Raising Awareness
Community Building
Our staff is continually mobilizing new borrowers and expanding operations further afield.
The nonprofit has an opportunity to tell the story of how the organization adapted to tremendous external changes in the last year.
Pivoting due to accommodate safety protocols related to Covid. Working with borrowers to restructure loans for borrowers' businesses that were under severe pressures from lockdowns and market constraints.
Impact & Results
Accountability & Finance
Culture & Community
Leadership & Adaptability
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