irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $958KWITH FUNDING FROM THE U.S. DEPARTMENT OF STATE-DRL, FSVC LAUNCHED IN AUGUST 2022 A 2.5-YEAR PROGRAM IN SUDAN (G455) TO HELP BUILD THE CAPACITY OF CSOS TO MONITOR THE EXTRACTIVE INDUSTRY SECTOR AND ADVOCATE FOR REFORM AND STRENGTHENED THE ABILITY OF MEDIA TO INVESTIGATE AND REPORT ON CORRUPTION IN THE SECTOR.
- #2 $896KSEE SCHEDULE O
named programs · 4 · from sources
What they call their work
Combating Terrorism
Assists countries in strengthening anti-money laundering and countering the financing of terrorism (AML/CFT) frameworks, including training for law enforcement and judicial authorities.
Expanding Access to Finance
Helps small and medium-sized enterprises (SMEs) access financial services to drive job creation, competition, and innovation in emerging markets.
Expanding Commercial Banking
Strengthens the capacity of banks and financial institutions to provide credit and services that support economic development and growth.
Public Financial Management
Improves governance, accounting, and financial management in government institutions to enhance transparency and accountability.
activities · 4 groups
What they do
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Nonprofit Capacity Building Services 1 activity
- Build institutional capacity through volunteer expertiseProvides pro bono financial services expertise through volunteer deployments to strengthen institutional capacity in emerging markets. Includes training, mentoring, and knowledge transfer to local counterparts in government, financial institutions, and civil society.
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Small Business and Nonprofit Lending 1 activity
- Expand financial access for SMEs and underserved populationsSupports small and medium-sized enterprises (SMEs) by improving access to financial services and strengthening the enabling environment for credit and investment. Aims to promote job creation, competition, and innovation through financial inclusion.
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Support for Investigative and Independent Journalism 1 activity
- Strengthen media and civil society investigative capacityProvides training in radio journalism and digital content creation to civil society organizations and supports the production of digital media. Aims to strengthen investigative reporting on corruption and improve transparency in extractive industries.
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Uncategorized 5 activities
- Deploy volunteer financial experts for technical assistanceDeploys senior financial sector professionals as unpaid volunteers to provide technical assistance to strengthen financial institutions and systems in developing countries. Activities include in-country consultations, workshops, seminars, and written policy or legal feedback on draft regulations.
- Develop regulatory frameworks for emerging financial risksDevelops comprehensive regulatory and best practice frameworks to address emerging risks such as terrorism financing in crowdfunding and digital interactions between non-profits and virtual assistant service providers. Establishes multi-stakeholder dialogues to improve regulation.
- Enhance anti-money laundering and counter-terrorist financing (AML/CFT) capabilitiesStrengthens AML/CFT frameworks by training financial staff, supporting Financial Intelligence Units, developing examination manuals, and facilitating on-site supervision of money transfer businesses. Works with central banks and regulatory bodies to implement international standards.
- Enhance cryptocurrency investigation capabilitiesBuilds capacity among law enforcement agencies and regulatory bodies to investigate cryptocurrency-related financial crimes and strengthen oversight of digital asset transactions.
- Strengthen financial sector institutions and policiesProvides technical assistance to improve central banking, commercial banking, capital markets, public financial management, and anti-money laundering/counter-terrorist financing (AML/CFT) frameworks in developing countries. Includes direct support to government entities and financial institutions on regulatory reform and supervision capacity.
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financials · form 990 · fy2024
revenue
Total revenue$11.05M
Contributions & grants$10.87M98%
Program service revenue$136K1%
Investment income$43K0%
Other revenue$0
expenses
Total expenses$10.74M
Program expenses83%
Admin / overhead17%
Fundraising0%
Salaries & benefits$5.57M
Grants paid out$858K
Largest expense lineCompensation
balance sheet
Total assets$9.77M
Cash$1.72M
Investments$2.55M
Liabilities$5.87M
Net assets$3.89M
Liquid reserves4.8 mo
5 years on record · 2020–2024 · YoY revenue -6.1%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 8
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| J Andrew Spindler | President and CEO | 40 | $720K |
| John D Pompay | Chief Financial and Operating Officer | 40 | $438K |
| Andrea Perraud | Managing Director | 40 | $406K |
| Edward Sia | Director | 40 | $257K |
| Charles E Kilbourne | Consultant and Secretary | 21 | $219K |
| Camille Jagueneau-Siegel | Director | 40 | $214K |
| Bella Oks | Senior Accounting Officer | 40 | $158K |
| Nancy B Unklesbay | Director | 40 | $151K |
board members · 12
- Adam J Szubin — Director
- Carla A Hills — Director
- Jill M Considine — Director
- John L Douglas — Director
- John L Walker — Director
- Julian C Schroeder — Chairman and Treasurer
- Paul Tucker — Director
- Randall D Guynn — Director
- Reuben Jeffery III — Director
- Robert L Clarke — Director
- Sabine Lautenschlager — Director
- William Mills — Vice Chairman
relationships · 11
Who they work with
- Central Bank of Somalia Partner — Trained in AML/CFT examination practices and supported with development of examination tools.
- FDIC Partner — Provides secondees such as Nathan Lynch and Frank Hartigan to support FSVC volunteer efforts
- FHI 360 Partner — Prime implementer of the BMK-ISED program in Morocco, with FSVC serving as sub-awardee.
- Financial Intelligence Unit (Democratic Republic of the Congo) Partner — Mentored in developing its first strategic analysis report using suspicious transaction data.
- Financial Intelligence Unit (Tajikistan) Partner — Supported through development of operational manual and STR guidance.
- Key partners and donors Partner — FSVC acknowledges support from key partners and donors, though specific organizations are not named on this page.
- U.S. Agency for International Development Funder — Funding source for programs in Angola, Eswatini, Lesotho, South Africa, Morocco, and Jordan.
- U.S. Department of State Funder — Funding source for programs in Sudan and Jordan.
- U.S. Department of State's Bureau of Counterterrorism Funder — Funding source for technical assistance programs in Somalia and Jordan.
- U.S. government Government — Primary source of funding for technical assistance programs
- private foundations Funder — Source of funding for technical assistance programs
strategies · 3
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Countering Financial Crime Through Institutional Capacity Buildingmethodology: countering_financial_crimeBy strengthening financial regulatory systems and training financial intelligence staff, we combat terrorism financing and financial crime because improved detection, reporting, and enforcement capabilities protect citizen assets and preserve institutional integrity.
- Financial Sector Strengthening for Economic Developmentmethodology: financial_sector_strengtheningBy building capacity in commercial banking and expanding access to finance for SMEs, we stimulate economic growth because stronger financial institutions increase credit availability, foster innovation, and create jobs in developing economies.
- Volunteer-Expert Deployment for Demand-Driven Technical Assistancemethodology: volunteer_expert_deploymentBy deploying senior financial professionals as volunteers to provide technical assistance in response to locally identified needs, we strengthen financial institutions and systems because real-world expertise is matched to specific, on-the-ground challenges, increasing relevance and effectiveness of capacity building.