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Arab Fund for Economic and Social Development 98-0211642

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Arab Fund for Economic and Social Development 98-0211642 0 0 Return of Organization Exempt From Income Tax OMB No 1545-0( Form 9•9 O ► 2016 1/ Under section 501(c ), 527, or 4947(a)(1) of the Internal Revenue Code ( except private foundations) Do not enter social security numbers on this form as it may be made public . • . • Department of the Treasury ► Internal Reken p Sersce ► Information about Form 990 and its instructions is at www.irs.gov/form990 MER"MRRI A For tie 2016 calendar year, or tax year beginning , 2016 , and ending , 20 C Name of organization D Employer Identification number B Check it applicable ARAB FUND FOR ECONOMIC AND SOCIAL DEVELOPMENT 98-0211642 Addcha nges change Doin g business as change Number and street (or P 0 box if mail is not delivered to street address ) Room / suite E Telephone number Initial at- P .O. BOX 21923, SAFAT 13080 44-1235831227 Final return/ City or town , state or province , country, and ZIP or foreign postal code terminated Amended KUWAIT CITY, STATE OF KUWAIT GGrossreceipts $ 203, 958, 095. return Appbcsoon F Name and address of principal officer MR. ABDULATI F Y. AL-HAMAD H(a) Is this a group return for Yes X No pending subordinates LLJ SAME AS "C" ABOVE H(b) Are all subordinates uchded' Yes No I Tax-exempt status 501 (c)(3) X 50l (c) ( 04 ) ( insert no ) 4947( a)(1) or 527 If "No ," attach a list ( see instructions) Webslte WWW. ARABFUND . ORG H( c) Group exemption number J ► ► K Form of nmannahnn X Cnrnnratinn Trust Association Other ► L Year of formation 19 6 8 M State of lanai domicile KU Summary I Briefly describe the organization ' s mission or most significant activities TO CONTRIBUTE TO THE FINANCI N G OF ECONOMIC & SOCIAL DEVELOPMENT IN THE ARAB STATES. THE ORGANIZATION r- PROVIDES TECHNICAL ASSISTANCE GRANTS & SUPPORTS A FELLOWSHIP PRGRM. 2 Check this box ► if the organization discontinued its operations or disposed of more than 25% of its net assets cD 3 Number of voting members of the governing body (Part VI , line 1a) , , , , , , , , , , , , , , , , , , , , , , , 3 8 . y 4 Number of independent voting members of the governing body (Part VI, line 1b) , , , , , , , , , , , 4 8 . 5 Total number of individuals employed in calendar year 2016 (Part V, line 2a), , , , , , , , , , , , , 5 0 . 6 Total number of volunteers (estimate if necessary) 6 0 . a 7a Total unrelated business revenue from Part VIII, column ( C), line 12 , , , , , , , , , , , , , , , , , 7a 0 . b Net unrelated business taxable income from Form 990-T , line 34 ........ ............... 7b 0 . Prior Year Current Year a, 8 Contributions and grants (Part VIII, line 1 h ) , , , , , , , , , , , , , , , , , , , , , , , , , 0. 0. 9 Pro ra rvice revenue (Part VIII , line 2g) , , , , , , , , , , , , , , , , , , , , 253, 727, 303. 163, 879, 522. -16,537,148. 37,898,877. 4) 10 In stmen ( Part VIII , column (A), lines 3, 4, and 7d), , , , , , , , , , , , , , , , . 11 Qt r re nU 'a ^l-column (A), lines 5 , 6d, 8c, 9c, 10c, and 11 e) , .3, 02 0 , 92 9 . 2 , 17 9 , 6 9 6 . 12 f revenue adn s1 0-194 11 (must ual Part VIII , column A , line 12) 0, 211, 084. 203, 958, 095. 13 far nts )mlar amnts. d ( Pacolumn (A), lines 1-3 ) 0 . 0 . 1 Benefits paid t-PembeX, column (A), Ilne 4) 0. 0. m 15 other comppenlon , _ benefits (Part IX , column (A), lines 5-10) 238. 23, 002, 128 . v6yee c 16 a Profeiionalnf ^dralsing fees X, column (A), line 11 e) 0 . 0 . d - '// If - W b Total fundraising e^ss- , column (D), line 25) 17 Other expenses (rt. Ilur(A), lines 1a- 11d, 11f-24e) . , 254. 7, 199, 214 . 18 Total expenses Add lines 13-/ 7 (must equal Part IX , column (A), line 25) , 9 92 . 30, 201, 342 . 19 Revenue less expenses Subtract line 18 from line 12 , 592. 173, 756, 753. ent Year End of Year 097. 11184583402. y^w ell 20 Total assets (Part X, line 16), , , , , , , , , , , , , , , , , , , ,,,,, ,, 21 Total liabilities (Part X, line 26) , , , , , , , , , , , , , , , , , , ,,,,,,,, ,,,, 618. 2 71, 12 7 , 8 4 4 . 22 Net assets or fund balances Subtract line 21 from line 20 . 979. 10913955558 . Signature Block Under penalties of perjury, I declare that I have examined this return , including accompanying schedules and statements , and to the best of my knowledge and belief, it is true, correct , and complete Declaration of preparer ( other than officer ) is based on all information of which preparer has any knowledge Sign ' Signature of officer Date Here ' (C AbbtiS G1^eC inies+-+weAf Type or print name and title PrtnUType preparers name Preparers stgnaturel 'Paid YING LI "Preparer ^' Firm's name LLP `se Only Firm's address MADISON AVENUE NEW YORK, N May th e IRS discuss this retu rn wi th th e prepa rer shown above? ( see Instruct) For Paperwork Reduction Act Notice, see the separate instructions. JSA SE1010 1 000 TN5186 2532 V 1 ARAAUND FOR ECONOMIC AND SOCIAL DEVEEENT 98-0211642 Form 990 (2 016) Page 2 Statement of Program Service Accomplishments Check if Schedule 0 contains a response or note to any line in this Part Ill . FRI 1 Bnd'flydescribe the organization's mission ATTACHMENT 1 2 Did the organization undertake any significant program services during the year which were not listed on the prior Form 990 or 990-EZ? , , , , , , , , , , , , , , , , , , , , q Yes No If "Yes," describe these new services on Schedule 0 3 Did the organization cease conducting , or make significant changes in how it conducts , any program services? .. .. ... .. ... .. .. .. q Yes No If 'Yes," describe these changes on Schedule 0 4 Describe the organization 's program service accomplishments for each of its three largest program services , as measured by expenses Section 501 ( c)(3) and 501 ( c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses , and revenue , if any, for each program service reported 4a (Code ) ( Expenses $ 22, 784, 455 including grants of $ o ) (Revenue $ 166, 027,173 THE ARAB FUND'S PRIMARY ACTIVITY IS EXTENDING LOANS FOR PURPOSES OF FINANCING ECONOMIC AND SOCIAL DEVELOPMENT IN MEMBER STATES. THE CATEGORIES OF INFRASTRUCTURE AND PRODUCTIVE PURPOSES FOR WHICH LOANS ARE EXTENDED ARE AS FOLLOWS: TRANSPORT, TELECOMMUNICATIONS, ENERGY AND ELECTRICITY, WATER AND SEWAGE, INDUSTRY AND MINING, AGRICULTURE AND RURAL DEVELOPMENT. 4b (Code ) (Expenses $ 4, 068, 653 including grants of $ o ) (Revenue $ 0 THE ARAB FUND PROVIDES TECHNICAL ASSISTANCE GRANTS TO MEMBER STATES AND INTERNATIONAL ORGANIZATIONS AND ENTERPRISES LOCATED IN MEMBER STATES TO ENHANCE DEVELOPMENT OBJECTIVES OF ARAB STATES AND THEIR INSTITUTIONAL SUPPORT. TECHNICAL ASSISTANCE GRANTS MADE BY THE ARAB FUND ARE PRIMARILY AWARDED FOR: FEASIBILITY STUDIES AND PROJECT PREPARATION, INSTITUTIONAL SUPPORT AND TRAINING, GENERAL STUDIES AND RESEARCH, SEMINARS AND CONFERENCES, EMERGENCY PROGRAMS. 4c (Code ) (Expenses $ 271, 244 including grants of $ o. ) (Revenue $ 0 THE ARAB FUND FELLOWSHIPS PROGRAM WAS LAUNCHED IN DECEMBER 1987. THE PURPOSE OF THE PROGRAM IS TO PROVIDE ARAB PH.D. HOLDERS WHO HAVE EXCELLENT ACADEMIC TRACK RECORD WITH OPPORTUNITIES TO CONDUCT RESEARCH AND/OR LECTURE IN THE BEST UNIVERSITIES OF THE WORLD. THE PROGRAM IS ALSO EXPECTED TO BUILD BRIDGES BETWEEN ARAB AND FOREIGN UNIVERSITIES, WHICH WILL LEAD TO MUTUAL BENEFITS. 4d Other program services ( Describe in Schedule O ) (Expenses $ including grants of $ ) ( Revenue $ 27,124,352. 4e Total program service expenses ► 6E1020JForm1 000 990 (2016) TN5186 2532 V 16-7.6F 0.0226104.001 PAGE 2 AROUND FOR ECONOMIC AND SOCIAL DEVEEENT 98-0211642 Form 990 (2016) Page 3 Checklist of Required Schedules Yes No 1 19 tlve organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A .. .. .. .. .. ... .. 1 X 2 Is the organization required to complete Schedule B, Schedule of Contributors (see instructions)?......... 2 X 3 Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes, "complete Schedule C, Part I ....... ..... ... ... ........ 3 X 4 Section 501 ( c)(3) organizations . Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes,"complete Schedule C, Part If .... ... ....... .. ...... 4 5 Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19' If "Yes," complete Schedule C, Part lll .......................................................... 5 X 6 Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If 'Yes," complete Schedule D, Part I . .. .. .. .. 6 X 7 Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas , or historic structures' If "Yes," complete Schedule D, Part II.. .. ...... 7 X 8 Did the organization maintain collections of works of art, historical treasures, or other similar assets' If "Yes," complete Schedule D, Part III . ..... .. ........................... .. ... ..... 8 X 9 Did the organization report an amount in Part X, line 21, for escrow or custodial account liability, serve as a custodian for amounts not listed in Part X, or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes,"complete Schedule D, Part IV ............... .. .. ..... 9 X 10 Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments' If "Yes," complete Schedule D, Part V. ..... 10 X 11 If the organization's answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable a Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete Schedule D, Part VI .
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