MICROBANK OF JAMAICA/MICROBANQUE DU JAMAIQUE
Charitable organizationOrganizations relieving poverty·508 - 35 BALES AVE · NORTH YORK, ON · M2N 7L7·BN 718472137RR0001
Last reported: F2024 filing · period ending 2024-03-31
What it does — in its own words
Ongoing programs
THE MICROBANK IS GLOBALLY SITUATED TO ERADICATE POVERTY ENRICH LIVES AND BUILD COMMUNITIES MANDATED TO IMPACT HUMANITY THROUGH CREATIVE IDEAS TECHNOLOGY EXCLUSIVE FINANCE FOR DEVELOPMENT AND INNOVATION AMONG OTHERS. AS SUCH GRANTING LOANS BURSARIES AND SCHOLARSHIPS TO ELIGIBLE LOCAL AND INTERNATIONAL STUDENTS FAMILIES AND OTHER INDIVIDUALS. AMONG SUCH OTHER THINGS PROVIDING MICROFINANCING PRODUCTS AND SERVICES FOR BUT NOT LIMITIED TO (STARTING UP A BURSARIES TUITION APPRENTICESHIP AGRI-FOOD/HORTICULTURE AND AGRICULTURAL STUDIES INCLUSIVE ENTREPRENEAURSHIP AND INTRAPRENEURSHIP EC… Show more
THE MICROBANK IS GLOBALLY SITUATED TO ERADICATE POVERTY ENRICH LIVES AND BUILD COMMUNITIES MANDATED TO IMPACT HUMANITY THROUGH CREATIVE IDEAS TECHNOLOGY EXCLUSIVE FINANCE FOR DEVELOPMENT AND INNOVATION AMONG OTHERS. AS SUCH GRANTING LOANS BURSARIES AND SCHOLARSHIPS TO ELIGIBLE LOCAL AND INTERNATIONAL STUDENTS FAMILIES AND OTHER INDIVIDUALS. AMONG SUCH OTHER THINGS PROVIDING MICROFINANCING PRODUCTS AND SERVICES FOR BUT NOT LIMITIED TO (STARTING UP A BURSARIES TUITION APPRENTICESHIP AGRI-FOOD/HORTICULTURE AND AGRICULTURAL STUDIES INCLUSIVE ENTREPRENEAURSHIP AND INTRAPRENEURSHIP ECONOMIC DEVELOPMENT AND ENHANCEMENT VENTURES AND SUPPORT FOR CLIMATE CHANGE INITIATIVES). OTHER PROJECTS SUCH AS AFFORDABLE HOUSING DEVELOPMENT INVEST IN SPACE FOR RELIGIOUS BODIES COMMUNITIY NOT FOR PROFITS PERFORMANCE AND EVENTS HUBS.
New programs
THE MICOBANK SHALL FUTHER SUCH REGULATIONS AND REQUIRMENTS AS MAY BE ENACTED FROM TIME TO TIME BY THE GOVERNMENT OF CANADA PROVINCIAL OR TERRITORIAL GOVERNMENTS. SUCH OTHER APPROPRIATE OFFERING AND PROGRAMS APPROVED BY THE SAID AND IF THE SAID LAWFULLY BENEFITS ITS ADVANCMENT. FURTHER ALL SUCH OTHER THINGS AS ARE INCIDENTAL OR ANCILLARY TO THE ATTAINMENT OF ITS MENTIONED OBJECTS. AS SUCH BRING PEOPLE IDEAS AND RESOURCES TOGETHER TO UNDERSTAND AND ADVANCE ISSUES EXPLORE CREATIVE SOLUTIONS AND BE CATALYST AND INTRUMENT FOR CHANGE THROUGH STRATEGIC ALIGNMENT.
Program descriptions from its F2024 T3010 filing, verbatim · self-reported · this is also the text our semantic search matches against. source ↗
Tier 1 — what we computed (open data)
From the charity's own F2024 T3010 filing. Self-reported; not independently verified. You can recompute every figure.
Cents to cause
T1 · computed (open data)100¢
Per its F2024 T3010, 100¢ of each dollar spent went to programs.
Sector median: 89¢ across 55,155 computed charities.
T3010 line 5000 ÷ 4950 · Self-reported on the T3010; not independently verified. source ↗
Operating overhead
T1 · computed (open data)—
Management, administration, and fundraising as a share of total spending. We treat 5–35% as the typical range; we state the figure, you judge.
T3010 line (5010 + 5020) ÷ 4950 · Self-reported on the T3010; not independently verified. source ↗
Reserves
T1 · computed (open data)0.9 yr
Years current reserves could cover program spending.
Sector quartiles: 0.4 yr / 0.8 yr / 7.5 yr (p25 / median / p90).
T3010 line (4100 + 4140) ÷ 5000 · Self-reported on the T3010; not independently verified. source ↗
Total revenue
T1 · computed (open data)$1K
Last-reported total revenue.
T3010 line 4700 · Self-reported on the T3010; not independently verified. source ↗
Donor-funded
T1 · computed (open data)0%
Share of revenue from receipted donations.
T3010 line 4500 ÷ 4700 · Self-reported on the T3010; not independently verified. source ↗
Government-funded
T1 · computed (open data)0%
Share of revenue from federal, provincial, and municipal sources.
T3010 line 4570 (or 4540+4550+4560) ÷ 4700 · Self-reported on the T3010; not independently verified. source ↗
Over the years
Every figure as filed at each fiscal period end, 2022–2024.
| Period end | Revenue | Cents to cause | Overhead | Reserves |
|---|---|---|---|---|
| 2022-03-31 | $0K | — | — | — |
| 2023-03-31 | $1K | 100¢ | — | 0.3 yr |
| 2024-03-31 | $1K | 100¢ | — | 0.9 yr |
| trend |
From its T3010 filings (CRA annual releases) · self-reported, not audited by us · when a period is restated in a later release, the newest figures are shown · ✱ = cents-to-cause outside the valid 0–100% range (filing error; not used in rankings). source ↗
★ Tier 2 — Charity Intelligence (analyst-reviewed)
Not rated by Charity Intelligence. Their analysts cover 618 of Canada's 83,761 charities; absence of a rating says nothing about this charity. Our computed figures above stand on their own.
Board of directors
3 directors reported · 3 of 3at arm's length
- WATSON, MARVIN MWCHAIRMANarm's length
- MILLS, SAMOURA SMDIRECTORarm's length
- MCINTOSH HINDS, JARON JMHDIRECTORarm's length
From its F2024T3010 filing (public CRA record), as filed. “Arm's length” means not related to other officials by family or business ties. source ↗
Right of reply
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Verify everything: full public record on CharityData.ca ↗ · CRA charities listing ↗