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Year, State Incorporated
1952, MD
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Also Known As
Cooperative Housing Foundation
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Affiliates
CHF DEVELOPMNENT FINANCE INTERNATIONAL, LLC
ENTIQUAL FOR TRADING
GLOBAL COMMUNITIES BRASIL
BELL FINANCE LLC
VITAS S.A.L.
EXPRESS FINANCE
PROJECT CONCERN INTERNATIONAL
ATAS DE
ATAS M
PARTNERS FOR FINANCE
CHF MANAGEMENT AND CONSULTING SERVICES EGYPT
VITAS PALESTINE
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Stated Purpose
"to create long-lasting, positive and community-led change that improves the lives and livelihoods of vulnerable people across the globe."
Global Communities provides assistance to individuals and international governmental and private organizations that in turn assist their citizens or members in improving their communities. Through its subsidiaries, the organization makes micro credit and small enterprise loans at prevailing market interest rates to low-income individuals in developing countries.
For the year ended September 30, 2020, Global Communities's program expenses were:
Technical assistance |
$110,501,427 |
Capital assistance |
$58,065,633 |
Total Program Expenses: |
$168,567,060 |
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Chief Executive
David A. Weiss, President and Chief Executive Officer
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Compensation*
$463,403
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Chair of the Board
Richard Celeste
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Chair's Profession / Business Affiliation
Former Governor, State of Ohio
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Board Size
18
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Paid Staff Size
2580
*2019 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Grant proposals, Internet
Fundraising costs were less than 1% of related contributions. (Related contributions, which totaled $110,387,343, are donations received as a result of fundraising activities.)
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.
The following information is based on Global Communities's audited financial statements - combined for the year ended September 30, 2020.
Source of Funds |
Grants and contributions |
$109,582,411 |
Interest and investment income |
$50,965,247 |
Contracts |
$11,875,697 |
Commission income |
$4,827,193 |
Other income |
$1,298,403 |
In-kind contributions |
$804,932 |
Total Income |
$179,353,883 |
- Programs: 87%
- Administrative: 13%
- Fundraising: Less than 1%
Total Income |
$179,353,883 |
Program expenses |
$168,567,060 |
Fundraising expenses |
$267,584 |
Administrative expenses |
$25,483,376 |
Other expenses |
$0 |
Total expenses: |
$194,318,020 |
Income in Excess of Expenses |
$-14,964,137 |
Beginning Net Assets |
$168,377,124 |
Other Changes In Net Assets |
$-4,065,458 |
Ending Net Assets |
$166,159,795 |
Total Liabilities |
$253,794,466 |
Total Assets |
$419,954,261 |
Note 1: According to Global Communities' audited financial statements - combined - for the year ended September 30, 2020, the organization received in-kind contributions totaling $804,932 in the form of equipment and materials ($757,856) and professional fees ($47,076).
Note 2: In the financial section above, "other changes in net assets" refers to gain on currency translation ($85,094), loss resulting from write off of investment related entities (-$70,479), and deobligation of grant funds (-$4,080,073).