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MISSION ASSET FUND Organization Name provided in the GuideStar Exchange* as of 05/17/2014: MISSION ASSET FUND

Organization Name as listed in the IRS Business Master File as of 06/09/2014: MISSION ASSET FUND

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AKA  Mission Asset Fund
San Francisco, CA
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GuideStar Summary

&1002; GuideStar Exchange Committed to transparency ?
This organization is a Gold-level GuideStar Exchange participant, demonstrating its commitment to transparency.

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&1002; Registered with IRS Legitimacy information is available
&1002; Financial Data Annual Revenue and Expense data reported
&1002; Forms 990 2012, 2011, and 2010 Forms 990 filed with the IRS
&1002; Mission Objectives Mission Statement is available
&1002; Impact Summary Charting Impact Report is available
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Basic Organization Information

MISSION ASSET FUND Organization Name provided in the GuideStar Exchange* as of 05/17/2014: MISSION ASSET FUND

Organization Name as listed in the IRS Business Master File as of 06/09/2014: MISSION ASSET FUND

* The GuideStar Exchange allows nonprofits to regularly update key information directly to GuideStar. It provides richer and broader information about their programs, impact, finances, people and more.
Also Known As: Mission Asset Fund
Physical Address: San Francisco, CA 94110 
EIN: 20-8993652
Web URL: www.missionassetfund.org 
Video URL(s): James Irvine Award winner, 2013
Everyone deserves a shot at success - TopShelf Boutique
Building credit, building communities - with Filipino workers in Los Angeles
NTEE Category: S Community Improvement, Capacity Building
S30 Economic Development
W Public, Society Benefit
W60 Financial Institutions/Services (Non-Government Related)
R Civil Rights, Social Action, Advocacy
R22 Minority Rights
Year Founded: 2007 
Ruling Year: 2008 


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Mission Statement

MAF is a nonprofit organization working to create a fair financial marketplace for hardworking families. We are helping financially excluded communities become visible, active, and successful participants in the U.S. financial mainstream.

Legitimacy Information

This organization is registered with the IRS.

This organization is required to file an IRS Form 990 or 990-EZ.

Institutional funders should note that an organization’s inclusion on GuideStar.org does not satisfy IRS Rev. Proc. 2011-33 for identifying supporting organizations.

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Annual Revenue & Expenses (IRS Form 990, January 2012)

Fiscal Year Starting: January 01, 2012
Fiscal Year Ending: December 31, 2012

Total Revenue $1,239,299
Total Expenses $1,345,797

Revenue & Expenses

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Balance Sheet (IRS Form 990)

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Forms 990 Received from the IRS Additional Information
IRS Form 990 is an annual document used by approximately one-third of all public charities to report information about their finances and operations to the federal government. GuideStar uses data from Form 990 to populate its database with financial information about nonprofit organizations. Posting Form 990 images on the GuideStar website is an ongoing process.

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Forms 990 Provided by the Nonprofit

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Financial Statements

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Annual Reports

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Leadership

(GuideStar Exchange,
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May 2014)

Jose Quinonez

Board Chair (GuideStar Exchange,
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May 2014)

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Board Co-Chair

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Board of Directors (GuideStar Exchange,
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May 2014)

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Board Leadership Practices (GuideStar Exchange,
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May 2014)
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GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section, which enables organizations and donors to transparently share information about essential board leadership practices.

Board Orientation & Education ?
Why does this matter? Without clarity around their responsibilities and expectations, board members are not positioned to succeed. They may find themselves challenged to fulfill their governance responsibilities or frustrated by the expectations that the organization has set for them. BoardSource recommends that every new board member participate in a formal orientation process, and that all board members sign a pledge or agreement committing to their board service and to all of the responsibilities and expectations that come with service. Ideally, board members also should participate in a formal governance training program prior to serving on a board.

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?
Response Not Provided
CEO Oversight ?
Why does this matter? Oversight and management of the chief executive is one of the board’s most important legal responsibilities. The CEO or executive director is the board's single employee, and - just like any other employer/employee relationship - regular and written assessment is critical to ensuring that the chief executive and board are communicating openly about goals and performance. BoardSource recommends that boards conduct formal, written reviews of their chief executives on an annual basis, which should include an in-person discussion with the chief executive and distribution of the written evaluation to the full board.

Has the board conducted a formal, written assessment of the chief executive within the past year?
Response Not Provided
Ethics & Transparency ?
Why does this matter? A commitment to handling conflicts of interests is essential to creating an organizational culture of transparency. Boards should create and follow a policy for identifying and handling conflicts of interest, whether real or perceived. BoardSource recommends that organizations review the conflict-of-interest statement and require signed disclosures from all board members and senior staff on an annual basis.

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements within the past year?
Response Not Provided
Board Composition ?
Why does this matter? The best boards are composed of individuals who bring a variety of skills, perspectives, backgrounds, and resources to tackle the complex and strategic challenges confronting their organizations. BoardSource recommends that boards commit to diversity and inclusion by establishing written policies and practices, which include strategic and intentional recruitment of diverse board members, continual commitment to inclusivity, and equal access to board leadership opportunities.

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?
Response Not Provided
Board Performance ?
Why does this matter? Boards need to regularly assess their own performance. Doing so ensures that they are being intentional about how they govern their organization, which is a critical component of effective board leadership. BoardSource recommends that a board conduct a self-assessment of its performance a minimum of once every three years to ensure that it is staying on track with its roles and responsibilities.

Has the board conducted a formal, written self-assessment of its performance within the past three years?
Response Not Provided

Officers for Fiscal Year (IRS Form 990)

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Highest Paid Employees & Their Compensation (IRS Form 990)

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People information was last updated by the nonprofit in May 2014

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Programs

Program: Lending Circles and other social loan programs (GuideStar Exchange,
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May 2014)

Budget:
$1,300,000
Category:
Community Economic Development
Population Served:
Poor/Economically Disadvantaged, Indigent, General
Adults
Hispanics

Program Description:

Our models and programs tackle the financial exclusion of low-income families. From no-cost credit-building loans to cutting-edge community research, we bridge the gap between diverse cultural practices and the mainstream financial system – all to help the financially invisible become visible. At our flagship office located in San Francisco's Mission District, we directly work with individuals living in the San Francisco Bay Area. With organizational partners throughout California, MAF is quickly expanding its programs across the nation. We provide technological infrastructure and consultation to nonprofit partners to provide the benefits of our innovative models to other communities.   Lending Circles are zero-fee, zero-interest credit-building social loans. By organizing low-income community members into Lending Circles, borrowers become lenders and lenders become borrowers.   Lending Circles for Citizenship are social loans helping remove the financial barriers to citizenship Lending Circles for Dreamers are social loans helping remove the financial barriers to applying for deferred action.   Security Deposit Loans - is a loan program that helps low-income people gain access to a zero-interest loan to secure a safe place to live. Research & Policy - this work is about inspiring change at a larger level through cutting-edge research, publications and policy leadership - all in the interest of moving the needle to improve financial access, products and protections for low-income consumers.

Program Long-Term Success:

Program Short-Term Success:

Program Success Monitored by:

Program Success Examples:

Social loans provide the boost people need to transform dreams into reality. With Lending Circles, low-income individuals are building credit, starting successful businesses, getting out of high-cost debt, buying homes, saving for college and working to increase their assets and financial capability. With 100% repayment rate and a 0% default rate, Lending Circles has a big impact on entire communities. For more information, please visit http://www.missionassetfund.org/impact/program-outcomes(http://www.missionassetfund.org/impact/program-outcomes) .
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Reviews

Organization Data Available

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