BBB Wise Giving Report for
ACCION International

BBB Wise Giving Report issued October 2011
BBB Wise Giving Report expires October 2013


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: ACCION International
Address: 56 Roland Street, Suite 300
  Boston, MA 02129
Phone: (617) 625-7080
Web Address: www.accion.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 1965, New York
Affiliates: ACCION Technical Advisors, India (ATA), Centro ACCION Microempresarial ("Centro"), ACCION Beijing Consultation Services Company, Ltd (ACC), ACCION Gateway Fund, LLC, ACCION Investment Management Company (AIMCO), ACCION Africa-Asia Investment Company, ACCION Microfinancas Sociedade de Credito ao Microempreendedor e a Empresa de Pequeno Porte, SA, Chifeng City Yuanbaoshan District ACCION Micro-Credit Company, Ltd (AMC)

Stated Purpose: "to give people the financial tools they need such as microloans, business training and other financial services that will allow them to work their way out of poverty."

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Evaluation Conclusions

               

ACCION International (ACCION) does not meet the following Standard for Charity Accountability.

Standard 10: Ending Net Assets - Avoid accumulating funds that could be used for current program activities. To meet this standard, the charity's unrestricted net assets available for use should not be more than three times the size of the past year's expenses or three times the size of the current year's budget, whichever is higher.

ACCION does not meet this Standard because:

  • According to its audited financial statements (consolidated with afiliates) for the year ending December 31, 2010, the organization's total unrestricted net assets were $402,937,952, or 10 times the charity's total budgeted expenses of $38,727,000.
ACCION meets the remaining 19 Standards for Charity Accountability.
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Programs

               

ACCION works to expand microfinance globally to reach poor people who lack access to basic financial services. ACCION's business model is aimed at promoting a healthy and inclusive microfinance industry through building social enterprises. To support the development of the microfinance industry, ACCION provides technical assistance, technology expertise, debt instruments, equity investments and governance to microfinance institutions. Furthermore, with the establishment of the Center for Financial Inclusion, ACCION is able to work on behalf of the microfinance industry, serving as a bridge to leverage private sector interest and to enhance the sustainability of microfinance for future generations.

For the year ended December 31, 2010, ACCION's program expenses were:

  
Global programs 14,352,961
Center for Financial Inclusion 3,427,496
Global investments 2,431,063
ACCION Investment Management Company 1,230,049
Communications 1,219,438
Microlending 581,936
Total Program Expenses: $23,242,943
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Governance

               

Chief Executive : Michael S. Schlein, President and CEO
Compensation*:
 $395,000

Chair of the Board: Diana L. Taylor
Chair's Profession / Business Affiliation: Managing Director, Wolfensohn & Company

Board Size: 19

Paid Staff Size: 204

*2010 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Direct mail, special events, grant proposals, Internet appeals, and planned giving.
Fund raising costs were 28% of related contributions. (Related contributions, which totaled $9,515,146, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on ACCION's audited financial statements (consolidated with affiliates) for the year ended December 31, 2010.

Source of Funds  
Realized and unrealized gains on investments, net 84,479,621
Contributions and grants 9,515,146
Interest and dividend income 6,376,688
Contract revenues and training fees 2,787,870
Management fees 1,207,299
Total Income $104,366,624


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Uses of Funds as a % of Total Expenses

Programs: 73%  Fund Raising: 8%  Administrative: 19% 

Total income   $104,366,624
  Program expenses $23,242,943
  Fund raising expenses 2,653,412
  Administrative expenses 6,096,247
 
Total expenses   $31,992,602
Income in Excess of Expenses   72,374,022
Beginning net assets   335,996,900
Other Changes in Net Assets 9,156,571
Ending net assets   417,527,493
Total liabilities   9,535,549
Total assets   $427,063,042

Note 1: In the above financial summary, "other changes in net assets" represents equity in income of equity investments ($8,054,687), purchase of interest in SCM by controlling shareholder ($790,923), and foreign currency translation gains, net ($310,961).

Note 2: According to ACCION, the organization received in in-kind contributions in the amount of $762,353, which represents donated legal services.

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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