Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| GENERAL EXPLANATION (A) | FORM 990, PART III, LINE 1 - ORGANIZATION'S MISSION | THE MISSION OF THE WOMEN'S WORLD BANKING GLOBAL NETWORK IS TO EXPAND THE ECONOMIC ASSETS, PARTICIPATION AND POWER OF LOW-INCOME WOMEN AND THEIR HOUSEHOLDS BY HELPING THEM ACCESS FINANCIAL SERVICES, KNOWLEDGE AND MARKETS. OUR VISION IS THAT ONE DAY ALL WOMEN WILL BE ABLE TO BUILD A SECURE FINANCIAL FUTURE FOR THEMSELVES AND THEIR HOUSEHOLDS. WOMEN'S WORLD BANKING, HEADQUARTERED IN NEW YORK, IS THE ONLY MICROFINANCE NETWORK WITH AN EXPLICIT FOCUS ON WOMEN. OUR GLOBAL NETWORK OF 39 MICROFINANCE INSTITUTIONS IN 27 COUNTRIES REPRESENTS 26 MILLION CLIENTS, 80% OF WHOM ARE WOMEN. NETWORK MEMBERS ARE DIVERSE IN GEOGRAPHY, SIZE AND STRUCTURE BUT UNITED IN THE FIRM BELIEF THAT MICROFINANCE MUST REMAIN COMMITTED TO WOMEN AS CLIENTS, INNOVATORS AND LEADERS. WOMEN'S WORLD BANKING WORKS WITH THESE INSTITUTIONS TO DESIGN FINANCIAL PRODUCTS AND SERVICES THAT FULFILL WOMEN'S NEEDS WHILE DEMONSTRATING THE SUSTAINABILITY AND SOCIAL IMPACT OF SERVING WOMEN. WOMEN'S WORLD BANKING WORKS WITH MICROFINANCE INSTITUTIONS TO: *CREATE INNOVATIVE FINANCIAL PRODUCTS INCLUDING CREDIT, SAVINGS AND INSURANCE AND WORKS WITH PARTNERS TO BRING THESE PRODUCTS TO SCALE. WE DO THIS THROUGH UNDERSTANDING THE FINANCIAL NEEDS OF WOMEN AND THEN CREATING PRODUCTS TO FIT THOSE NEEDS. BY DESIGNING TAILORED PRODUCTS AND USING MARKETING AND DELIVERY TECHNIQUES NOT CURRENTLY USED IN MICROFINANCE, WE SEEK TO GIVE WOMEN NOT ONLY ACCESS TO FINANCIAL SERVICES, BUT ALSO CONTROL OVER THEIR ASSETS. * PROVIDE INSTITUTION-STRENGTHENING SERVICES TO SUPPORT MICROFINANCE INSTITUTIONS, INCLUDING GENDER DIVERSITY INITIATIVES, AND FINANCIAL TRAINING AND SUPPORT. * DEVELOP PRINCIPLED, VISIONARY LEADERS AND MERITOCRATIC ORGANIZATIONS THROUGH ITS CENTER FOR MICROFINANCE LEADERSHIP; AND * SHARE KNOWLEDGE AND INNOVATION BY PROVIDING NETWORK MEMBERS OPPORTUNITIES TO EXCHANGE BEST PRACTICES WITH OTHER MICROFINANCE LEADERS. BY INVESTING IN WOMEN WE PRODUCE A MULTIPLIER EFFECT ON THE WELL-BEING OF THEIR HOUSEHOLDS AND COMMUNITIES. INSTITUTIONAL DEVELOPMENT PROGRAMS (IDP) CONSISTS OF TECHNICAL SUPPORT AND STRATEGY DEVELOPMENT FOR WWB NETWORK MEMBERS (NMS). UNDER THIS PROGRAM, WWB OFFERS LEADERSHIP DEVELOPMENT TRAININGS AS WELL AS SERVICES IN BUILDING GENDER DIVERSITY IN MICROFINANCE INSTITUTIONS. IDP PROVIDES STRATEGIC ADVICE TO WWB AND NMS, DEVELOPS BEST PRACTICE TOOLKITS, ORGANIZES WORKSHOPS AND EXCHANGES, AND IS CHARGED WITH MONITORING EXISTING AND CULTIVATING NEW NMS. IDP ALSO INCLUDES A STRONG COMMUNICATIONS COMPONENT TO SHARE INFORMATION ACROSS THE NETWORK AND BRING PUBLIC EXPOSURE TO THE NETWORK'S VALUE AND PRINCIPLES. FUNCTIONAL PRODUCTS AND SERVICES (FPS) SUPPORT NMS AND ASSOCIATES IN EXPANDING FINANCIAL SERVICES TO LOW INCOME ENTREPRENEURS AND IN FORGING PARTNERSHIPS WITH BANKS. THE PRODUCTS AND SERVICES INCLUDE MARKETING AND MARKET RESEARCH, INTRODUCTION OF NEW PRODUCTS SUCH AS SAVINGS, MICRO INSURANCE, INDIVIDUAL LENDING AND RURAL LENDING, AND FORMALIZATION. FPS ALSO HAS A PUBLICATION COMPONENT TO DISSEMINATE KNOWLEDGE GAINED THROUGH DEVELOPING NEW AND INNOVATIVE PRODUCTS. |
| GENERAL EXPLANATION (B) | FORM 990, PART VI, SECTION B, LINE 11A - FORM 990 REVIEW | THE ORGANIZATION'S FORM 990 IS INITIALLY PREPARED BY AN INDEPENDENT ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY THE ORGANIZATION'S FINANCE DEPARTMENT. THE FINANCE DEPARTMENT THEN REVIEWS AND PROVIDES COMMENTS ON THE RETURN AS DRAFTED BY THE ACCOUNTING FIRM. THE ORGANIZATION'S CFO/COO AND CEO THEN REVIEW AND APPROVE THE REVISED DRAFT RETURN. THE DRAFT FORM 990 IS DISTRIBUTED TO THE FULL BOARD OF DIRECTORS AND A BOARD DESIGNATED SUBCOMMITTEE THEN REVIEWS AND APPROVES THE FORM 990. |
| GENERAL EXPLANATION (C) | FORM 990, PART VI, SECTION B, LINE 12C - CONFLICT OF INTEREST POLICY | PER THE WRITTEN CONFLICT OF INTEREST POLICY, EACH DIRECTOR AND ALL EMPLOYEES AND CONSULTANTS WHEN HIRED ARE ASKED TO COMPLETE AND SIGN A CONFLICT OF INTEREST DISCLOSURE STATEMENT. ADDITIONAL SUBMISSIONS SHOULD BE MADE THROUGH A SUPERVISOR UPON OCCURRENCE OF ANY NEW ACTIVITY, INTEREST OR RELATIONSHIP, WHICH MAY GIVE RISE TO A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST. IT IS NOT THE INTENTION OF SWWB TO REQUIRE ITS EMPLOYEES TO EXERCISE INDEPENDENT JUDGMENT REGARDING A SPECIFIC SITUATION, AND ANY DOUBTS SHOULD ALWAYS BE RESOLVED IN FAVOR OF DISCLOSURE SO THAT AN INFORMED JUDGMENT MAY BE MADE. A CONFLICT OF INTEREST DISCLOSURE STATEMENT IS ALSO FURNISHED ANNUALLYTO EACH DIRECTOR AND STAFF OFFICER CURRENTLY SERVING THIS ORGANIZATION. THIS POLICY IS REVIEWED ANNUALLY FOR THE INFORMATION AND GUIDANCE OF DIRECTORS AND STAFF OFFICERS. ANY NEW DIRECTORS OR STAFF OFFICERS ARE ADVISED OF THE POLICY AND FURNISHED A DISCLOSURE STATEMENT UPON UNDERTAKING THE DUTIES OF OFFICE. UPON OCCURRENCE OF ANY NEW ACTIVITY, INTEREST, OR RELATIONSHIP, WHICH MAY GIVE RISE TO A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST, ADDITIONAL SUBMISSIONS SHOULD BE MADE IN WRITING TO A SUPERVISOR, IF THE INTERESTED INDIVIDUAL IS A STAFF MEMBER; TO THE CHAIR, IF THE INTERESTED INDIVIDUAL IS A BOARD MEMBER; OR TO THE BOARD, IF THE PRESIDENT IS INVOLVED IN THE CONFLICT. WHEN A DIRECTOR IS INVOLVED, THE DESIGNATED REVIEWING OFFICIAL HAS A RESPONSIBILITY TO BRING A POTENTIAL CONFLICT OF INTEREST TO THE ATTENTION OF THE BOARD PROMPTLY FOR ACTION AT THE NEXT REGULAR MEETING OF THE BOARD OR DURING A SPECIAL MEETING CALLED SPECIFICALLY TO REVIEW THE POTENTIAL CONFLICT OF INTEREST. |
| GENERAL EXPLANATION (D) | FORM 990, PART VI, SECTION B, LINE 15 - COMPENSATION REVIEW | STICHTING TO PROMOTE WOMEN'S WORLD BANKING ADHERES TO THE FOLLOWING POLICIES AND PROCEDURES FOR DETERMINING COMPENSATION OF OFFICERS: (1) REVIEW AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE OF THE ORGANIZATION; (2) USE OF DATA AS TO COMPARABLE COMPENSATION; AND (3) CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATIONS AND DECISIONS. 1. REVIEW AND APPROVAL. THE COMPENSATION OF THE PERSON IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS OR COMPENSATION COMMITTEE OF THE ORGANIZATION, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. 2. USE OF DATA AS TO COMPARABLE COMPENSATION. THE COMPENSATION OF THE PERSON IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. 3. UPON RECOMMENDATION FROM THE COMPENSATION COMMITTEE, THE BOARD APPROVES THE COMPENSATION AND SAID DECISION IS RECORDED IN THE MINUTES. |
| GENERAL EXPLANATION (E) | FORM 990, PART VI, SECTION C, LINE 19 - DOCUMENT AVAILABILITY | SWWB PUBLISHES THROUGH ITS WEBSITE, AN ANNUAL REPORT INCLUSIVE OF FINANCIALS ALONG WITH THE PAST TWO YEARS OF 990'S AND AUDITED FINANCIAL STATEMENTS. THE FORM 990 FOR EACH OF FWWB AND SWWB IS ALSO AVAILABLE TO THE PUBLIC THROUGH THE GUIDESTAR WEBSITE. |
| GENERAL EXPLANATION (F) | FORM 990, PART VII - HOURS WORKED AT RELATED ORGANIZATION | IN ADDITION TO THE HOURS REPORTED IN PART VII, MARY ELLEN ISKENDERIAN SPENDS AN AVERAGE OF 5 HOURS PER WEEK ON WORK FOR FRIENDS OF WOMEN'S WORLD BANKING (FWWB) AND JANE SLOANE SPENDS AN AVERAGE OF 20 HOURS PER WEEK ON WORK FOR FWWB. |
| GENERAL EXPLANATION (G) | FORM 990, PART XI, LINE 5 - OTHER CHANGES IN NET ASSETS OR FUND BALANCE | FOREIGN CURRENCY TRANSLATION LOSS ....................... $ (402,677) CHANGE IN NET ASSETS OF AN AFFILIATED ORG ............... 161,182 UNREALIZED LOSSES ON INVESTMENT ......................... (868,747) ----------- TOTAL ................................................... $(1,110,242) |
| HOURS DEVOTED FOR RELATED ORGANIZATION | FORM 990 PART VII | NAME:MARY ELLEN ISKENDERIAN TITLE:PRESIDENT / CEO HOURS:5 |
| HOURS DEVOTED FOR RELATED ORGANIZATION | FORM 990 PART VII | NAME:JANE SLOANE TITLE:VP OF DEVELOPMENT HOURS:20 |
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