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ObjectId: 202443189349307249 - Submission: 2024-11-13
TIN: 30-0303438
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
Attach to Form 990.
Go to
www.irs.gov/Form990
for instructions and the latest information.
OMB No. 1545-0047
20
22
Open to Public Inspection
Name of the organization
MESO-AMERICAN REEF FUND INC
Employer identification number
30-0303438
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts.
Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a)
Donor advised funds
(b)
Funds and other accounts
1
Total number at end of year
.........
2
Aggregate value of contributions to (during year)
3
Aggregate value of grants from (during year)
4
Aggregate value at end of year
........
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control?
............
Yes
No
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit?
...................................
Yes
No
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
Preservation of land for public use (e.g., recreation or education)
Preservation of an historically important land area
Protection of natural habitat
Preservation of a certified historic structure
Preservation of open space
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a
Total number of conservation easements
......................
2a
b
Total acreage restricted by conservation easements
....................
2b
c
Number of conservation easements on a certified historic structure included in (a)
.....
2c
d
Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register
...
2d
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year
4
Number of states where property subject to conservation easement is located
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds?
............
Yes
No
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
$
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)?
.............................
Yes
No
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1
.........................
$
(ii)
Assets included in Form 990, Part X
...............................
$
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1
..........................
$
b
Assets included in Form 990, Part X
...............................
$
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2022
Page 2
Schedule D (Form 990) 2022
Page
2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets
(continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
Public exhibition
d
Loan or exchange programs
b
Scholarly research
e
Other
c
Preservation for future generations
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?
...
Yes
No
Part IV
Escrow and Custodial Arrangements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X?
....................................
Yes
No
b
If "Yes," explain the arrangement in Part XIII and complete the following table:
Amount
c
Beginning balance
.............................
1c
d
Additions during the year
............................
1d
e
Distributions during the year
..........................
1e
f
Ending balance
................................
1f
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?
...
Yes
No
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII
....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a)
Current year
(b)
Prior year
(c)
Two years back
(d)
Three years back
(e)
Four years back
1a
Beginning of year balance
....
30,021,814
32,790,641
30,367,583
27,776,585
24,085,282
b
Contributions
...
3,500,000
507,011
c
Net investment earnings, gains, and losses
4,322,551
-4,213,369
3,670,403
3,962,794
4,108,315
d
Grants or scholarships
...
e
Other expenditures for facilities
and programs
...
212,623
531,000
270,000
413,940
f
Administrative expenses
....
2,141,871
1,524,458
977,345
957,856
924,023
g
End of year balance
......
31,989,871
30,021,814
32,790,641
30,367,583
27,776,585
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment
0 %
b
Permanent endowment
100.000 %
c
Term endowment
0 %
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:
Yes
No
(i)
Unrelated organizations
.................
3a(i)
No
(ii)
Related organizations
.................
3a(ii)
No
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R?
.........
3b
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property
(a)
Cost or other basis
(investment)
(b)
Cost or other basis (other)
(c)
Accumulated depreciation
(d)
Book value
1a
Land
.....
b
Buildings
....
c
Leasehold improvements
d
Equipment
....
e
Other
.....
117
117
Total.
Add lines 1a through 1e.
(Column (d) must equal Form 990, Part X, column (B), line 10(c).)
..
117
Schedule D (Form 990) 2022
Page 3
Schedule D (Form 990) 2022
Page
3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b.
See Form 990, Part X, line 12.
(a)
Description of security or category
(including name of security)
(b)
Book value
(c)
Method of valuation:
Cost or end-of-year market value
(1)
Financial derivatives
.........
(2)
Closely-held equity interests
........
(3)
Other
(A)
ENDOWMENT FUND
31,989,871
F
(B)
TEMPORARILY RESTRICTED FUNDS
11,048,280
F
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total.
(Column (b) must equal Form 990, Part X, col. (B) line 12.)
43,038,151
Part VIII
Investments - Program Related.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c.
See Form 990, Part X, line 13.
(a)
Description of investment
(b)
Book value
(c)
Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total.
(Column (b) must equal Form 990, Part X, col.(B) line 13.)
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d.
See Form 990, Part X, line 15.
(a)
Description
(b)
Book value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total.
(Column (b) must equal Form 990, Part X, col.(B) line 15.)
...........
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f.
See Form 990, Part X, line 25.
1.
(a)
Description of liability
(b)
Book value
(1)
Federal income taxes
ACCRUAL EMPLOYMENT BENEFITS
184,321
PENDING FUNDS NOT USED
259,166
Total.
(Column (b) must equal Form 990, Part X, col.(B) line 25.)
443,487
2.
Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2022
Page 4
Schedule D (Form 990) 2022
Page
4
Part XI
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1
Total revenue, gains, and other support per audited financial statements
.......
1
2,880,449
2
Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a
Net unrealized gains (losses) on investments
....
2a
b
Donated services and use of facilities
.........
2b
c
Recoveries of prior year grants
...........
2c
d
Other (Describe in Part XIII.)
...........
2d
e
Add lines
2a
through
2d
.....................
2e
0
3
Subtract line
2e
from line
1
..................
3
2,880,449
4
Amounts included on Form 990, Part VIII, line 12, but not on line
1
:
a
Investment expenses not included on Form 990, Part VIII, line 7b
.
4a
b
Other (Describe in Part XIII.)
...........
4b
c
Add lines
4a
and
4b
....................
4c
0
5
Total revenue. Add lines
3
and
4c.
(This must equal Form 990, Part I, line 12.)
......
5
2,880,449
Part XII
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1
Total expenses and losses per audited financial statements
...........
1
3,911,620
2
Amounts included on line 1 but not on Form 990, Part IX, line 25:
a
Donated services and use of facilities
.........
2a
b
Prior year adjustments
............
2b
c
Other losses
................
2c
d
Other (Describe in Part XIII.)
...........
2d
e
Add lines
2a
through
2d
....................
2e
0
3
Subtract line
2e
from line
1
...................
3
3,911,620
4
Amounts included on Form 990, Part IX, line 25, but not on line
1:
a
Investment expenses not included on Form 990, Part VIII, line 7b
..
4a
b
Other (Describe in Part XIII.)
...........
4b
c
Add lines
4a
and
4b
.....................
4c
0
5
Total expenses. Add lines
3
and
4c.
(This must equal Form 990, Part I, line 18.)
......
5
3,911,620
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference
Explanation
PART V, LINE 4:
ON DECEMBER 8, 2014 A SEPARATE AGREEMENT WAS ENTERED INTO FOR PROJECT NO. XXX-XX-XXXX WHERE CONDITIONS FOR THE USE AND MANAGEMENT OF FUNDS ARE ESTABLISHED. INVESTMENTS CORRESPOND TO CONTRIBUTIONS RECEIVED FROM GERMAN COOPERATION THROUGH THE KFW DEVELOPMENT BANK FOR US$ 8,586,382 EQUIVALENT TO EUR 7,000,000 AS FINANCIAL SUPPORT TO MAR FUNDS' ENDOWMENT FUND, ACCORDING TO FINANCIAL CONTRIBUTION AGREEMENT DATED DECEMBER 12, 2014. THE ENDOWMENT FUND CREATED THROUGH THE GERMAN CONTRIBUTION DOES NOT EXPIRE. THE BENEFICIARY IS REQUIRED TO MAINTAIN ITS ACTUAL VALUE. IF THE TEMPORARY USE OF THE ENDOWMENT FUND IS NECESSARY, THEN THESE FUNDS SHOULD BE REPLENISHED AS SOON AS POSSIBLE. THE USE OF THESE FUNDS IS RESTRICTED TO A MAXIMUM 5% OF THE PRINCIPAL. ANY USE OF THE CAPITAL, UNTIL DECEMBER 31, 2019 ALWAYS REQUIRED A NON-OBJECTION FROM KFW. THE DURATION OF THE PROJECT WAS FIVE YEARS AS FROM THE CAPITALIZATION OF THE ENDOWMENT FUND, ENDING ON DECEMBER 31, 2019. BETWEEN JULY AND AUGUST 2020, KFW CONDUCTED A VIRTUAL EVALUATION OF THE PROJECT. IN ACCORDANCE WITH THE PROVISIONS OF THE SEPARATE AGREEMENT, MAR FUND'S EXECUTIVE DIRECTION SUBMITTED ON SEPTEMBER 4, 2020 A FINAL REPORT IN RELATION TO IMPLEMENT MEASURES. KFW HAS INFORMED MAR FUND THAT THE OBLIGATION TO REPORT ON THIS CONTRIBUTION HAS CEASED WITH THE END OF THE YEAR 2022. ON JUNE 24, 2013 FINANCIAL AGREEMENT NO. AFD CZZ 1755.01F WAS ENTERED INTO BETWEEN FFEM AND MAR FUND FOR EUR 1,060,000, AS A GRANT FROM WHICH EUR 60,000 WILL BE USED TO EVALUATE THE PROJECT AND THEREFORE, THE PROJECTS DISBURSEMENT WILL AMOUNT TO EUR1,000,000. THE FINANCIAL CONTRIBUTION WAS EXCLUSIVELY PROVIDED TO CAPITALIZE THE MAR FUND ENDOWMENT FUND. THIS CONTRIBUTION WAS RECEIVED ON DECEMBER 31, 2013 FOR US$1,368,500, ORIGINALLY EXPIRING ON DECEMBER 31, 2018; AND THAT WAS EXTENDED THROUGH JULY 31, 2019 ACCORDING TO AMENDMENT NO.1. ON APRIL 14 2020, AMENDMENT NO. 2 WAS ENTERED INTO, WHICH EXTENDED THE TERM TO DISBURSE FUNDS UNTIL JUNE 30, 2021 AND ESTABLISHES DECEMBER 31, 2021 AS THE EXPECTED DATE FOR THE PROJECT'S TECHNICAL COMPLETION. THE FINAL EVALUATION OF THIS AGREEMENT WAS CONDUCTED BY AFD/FFEM STARTED IN FEBRUARY 2020. THE FINAL REPORT WAS RECEIVED IN JULY 2021. ON JUNE 25, 2019, THE FINANCING AGREEMENT NO. CZZ2359.01-G FOR THE FRENCH FACILITY FOR GLOBAL ENVIRONMENT -FFEM, WAS ENTERED BETWEEN THE FRENCH DEVELOPMENT AGENCY -AFD AND -MAR FUND-, FOR EUR 1,115,800 AS GRANT FROM WHICH EUR 460,500 EQUIVALENT TO US$ 507,011 WERE ALLOCATED AS AN ENDOWMENT FUND AND THE REMAINING BALANCE OF EUR 655,300 FOR PROJECTRELATED ACTIVITIES. THE DURATION OF THE PROJECT IS THREE YEARS (2019-2022); HOWEVER, DUE TO THE COVID 19 PANDEMIC SITUATION, MANY ACTIVITIES WERE POSTPONED UNTIL 2023. THIS DOES NOT AFFECT THE CLOSING OF THE AGREEMENT, AS IT ALLOWS FOR EXPENDITURES TO BE MADE UNTIL DECEMBER 31, 2023. ON NOVEMBER 15, 2023, AMENDMENT NO. 1 TO FINANCING AGREEMENT NO. CZZ2359.01-G WAS SIGNED, EXTENDING THE DEADLINE FOR THE DISBURSEMENT OF FUNDS UNTIL DECEMBER 31, 2024, AND APPROVING MODIFICATIONS TO THE BUDGET INCLUDED IN THE ORIGINAL AGREEMENT. ON JULY 22, 2022, THE "TRUST FUND ADMINISTRATION AGREEMENT FOR THE CARIBBEAN GUATEMALA - THE CONSERVATION COAST" SIGNED BETWEEN MAR FUND AND FUNDACION PARA EL ECODESARROLLO Y CONSERVACION -FUNDAECO- FOR AN AMOUNT OF US$3,500,000.00. THROUGH THIS AGREEMENT, MAR FUND BECAME THE CUSTODIAN AND ADMINISTRATOR OF THIS CONTRIBUTION OWNED BY FUNDAECO, FOR WHICH IT OPENED AN EXCLUSIVE INVESTMENT ACCOUNT. THESE FUNDS COME FROM TOTALENERGIES, A FRENCH COMPANY, WHOSE OBJECTIVE IS TO EXCLUSIVELY SUPPORT CONSERVATION ACTIVITIES AND THE SUSTAINABLE MANAGEMENT OF NATURAL RESOURCES IN THE AREA DEFINED BY THE "REDD+ PROJECT FOR CARIBBEAN GUATEMALA: THE CONSERVATION COAST ".
PART V, LINE 4
ON DECEMBER 20, 2011 A SEPARATE AGREEMENT WAS ENTERED INTO FOR PROJECT NO. XXX-XX-XXXX WHERE CONDITIONS FOR THE USE AND MANAGEMENT OF FUNDS ARE SET. INVESTMENTS CORRESPOND TO CONTRIBUTIONS RECEIVED FROM THE GERMAN COOPERATION THROUGH THE KFW DEVELOPMENT BANK FOR US$ 13,051,170 EQUIVALENT TO EUR10,000,000 AS FINANCIAL SUPPORT TO THE MAR FUND ACCORDING TO FINANCIAL CONTRIBUTION AGREEMENT DATED DECEMBER 22, 2011. THE ENDOWMENT FUND CREATED THROUGH THE GERMAN CONTRIBUTION DOES NOT EXPIRE. THE BENEFICIARY IS REQUIRED TO MAINTAIN ITS ACTUAL VALUE. EXCEPT FOR THOSE EXCEPTIONAL AND EMERGENCY CASES, THE ENDOWMENT FUND SHALL NOT BE USED, EXCEPT DURING THE FIRST YEAR OF OPERATIONS WHEN UP TO US$ 100,000 MAY BE USED TO SOLVE IMMEDIATE CASH FLOW NECESSITIES OF THE PROJECT. ON MARCH 5, 2013, ADDENDUM NO. 1 FOR THE SEPARATE AGREEMENT WAS SIGNED, THE PURPOSE OF WHICH WAS TO ADD PARAGRAPH NO. 1.1.4 AUDIT, WHERE IT SPECIFIES THE REQUIREMENTS FOR HIRING AN AUDIT FIRM THAT WILL ANNUALLY EVALUATE THE IMPLEMENTATION OF THE FUNDS. THE CONTRACTUAL OBLIGATIONS WITH KFW FOR THIS CONTRIBUTION EXPIRED ON DECEMBER 31, 2016. IN 2017, KFW CONDUCTED THE FINAL TECHNICAL EVALUATION OF THE PROJECT WITH POSITIVE RESULTS. MAR FUND WAS SELECTED FOR AN EX-POST EVALUATION BY KFW. THE EVALUATION WAS CARRIED OUT IN 2020 AND EARLY 2021, AND THE FINAL REPORT WAS RECEIVED ON FEBRUARY 24, 2021. KFW HAS INFORMED MAR FUND THAT THE OBLIGATION TO REPORT ON THIS CONTRIBUTION HAS CEASED AT THE END OF 2022.
Schedule D (Form 990) 2022
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