Financial Services Volunteer Corps Inc.

Financial Services Volunteer Corps Inc.

New York, NY
Tax ID13-3568629

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About this organization

Revenue

$5,902,249

Expenses

$5,886,912

Website

fsvc.org

Mission

FSVC's mission is to help build sound financial sectors to support healthy market-oriented economies in developing and emerging market countries.

About

State Department program in Somalia: with funding from the U. S. Department of State's Bureau of Counterterrorism, FSVC has been implementing a program of technical assistance since 2015 to help strengthen the financial sector in Somalia and its ability to intermediate effectively financial flows. FSVC's program aims to support the Central Bank Somalia (CBS)'s efforts to address the critical financial sector reforms to adhere to the recommendations of the Financial Action Task Force, and allay concerns of international regulatory bodies. In 2018, FSVC completed four long-term and short-term projects, including helping CBS to improve its capacity to conduct anti-moneylaundering (AML) on-site examinations of money transfer businesses (MTB s) as well as several trainings for MTB s themselves in how to improve their AML compliance in key areas such as know-your-customer procedures and identifying suspicious activities

Interesting data from their 2019 990 filing

The non-profit's aim, as indicated in the filing, is “Financial services volunteer corps {fsvc} is a not-for-profit, private-public partnership. fsvc structures practical, demand-driven technical assistance and training missions by senior financial sector professionals who serve as unpaid volunteers. fsvc's core work concentrates on strengthening central bank capacity, building robust commercial banking sectors and developing capital markets. major additional areas of work include improving access to financial services for small and medium-sized enterprises (smes), financial inclusion, and combating money laundering and financial terrorism. another critical area of current work involves advising governments and civil society organizations on how to strengthen public financial management. missions are staffed primarily by volunteer experts and, in select situations, paid consultants.”.

When detailing its duties, they were outlined as: “Fsvc's mission is to help build sound financial sectors to support healthy market-oriented economies in developing and emerging market countries.”.

  • The non-profit has reported their operating state as DE, as required by law.
  • As stated in the filing, the non-profit's address in 2019 was 10 EAST 53RD STREET 36TH FL, NEW YORK, NY, 10022.
  • The non-profit's form for the year 2019 reports a total of 12 employees on their payroll.
  • Does not operate a hospital.
  • Does not operate a school.
  • Does not collect art.
  • Does not provide credit counseling.
  • Has foreign activities.
  • Is not a donor advised fund.
  • Is not a private foundation.
  • Expenses are greater than $1,000,000.
  • Revenue is greater than $1,000,000.
  • Revenue less expenses is $15,337.
  • The CEO's salary policy within the organization is established through a review process by an impartial entity.
  • The organization elects its board members.
  • The organization has a written policy that describes how long it will retain documents.
  • The organization has a foreign financial account.
  • The organization has 16 independent voting members.
  • The organization was formed in 1990.
  • The organization has a written policy that addresses conflicts of interest.
  • The organization is required to file Schedule B.
  • The organization is required to file Schedule J.
  • The organization is required to file Schedule O.
  • The organization pays $2,482,376 in salary, compensation, and benefits to its employees.
  • The organization pays $61,018 in fundraising expenses.
  • The organization provides Form 990 to its governing body.
  • The organization has minutes of its meetings.
  • The organization has a written whistleblower policy.
  • The organization's financial statements were reviewed by an accountant.

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