EIN 20-8993652

Mission Asset Fund (MAF)

IRS 501(c) type
Num. employees
Year formed
Most recent tax filings
Mission Asset Fund believes in creating pathways out of the financial shadows. Every day we help house cleaners and restaurant owners across the U.S. save money with better credit and less debt. We do it because 50 million Americans are living in the shadows where predatory lenders lurk. From our signature social loans to our groundbreaking research, we are constantly innovating and advocating for effective, culturally relevant ways to improve economic mobility. We are transforming the financial services sector so that all hardworking families have a shot at achieving their dreams.
Total revenues
Total expenses
Total assets
Num. employees

Program areas at MAF

Emergency grants - in 2020, the organization created the covid-19 rapid response Fund, a nationwide financial relief Fund to provide direct cash assistance to low wage workers, California public college students, and immigrant families excluded from federal support. Rather than disbursing grants through a first-come, first-served basis or lottery systems--approaches that further inequality by preferencing those with the best resources, access, or luck--the organization developed a financial equity framework to direct resources to applicants facing the greatest financial hardship. Over the course of 18 months, the organization disbursed more than 65,000 grants totaling $40m in direct relief. Beyond grants, the organization also established resources finder, a new online tool to match people with relevant resources that they may be eligible for.
Immigration loans - in 2017, the organization expanded the portfolio of programs to include a zero-interest immigration loan program and scholarships to help individuals cover the cost of citizenship applications, deferred action for childhood arrivals (daca), green card and other immigration related fees. In 2021, against the backdrop of the covid-19 pandemic, numerous changes in immigration policy put immigrant households' future and finances under immense strain. The organization expanded its immigration program offerings, providing a sliding scale of credit-building loans, partial, and full grants to cover the cost of seven uscis application fees, including humanitarian parole for afghan refugees. In line with the covid-related changes to the lending circles program, the organization extended all loan flexibility options to apply to all immigration loans.
Recovery program - to support people in the transition from emergency relief to long-term recovery, maf launched an unparalleled initiative supporting the financial recovery of immigrant families excluded from federal covid-19 relief. The organization's immigrant families recovery program, launched at the end of 2021, is a $30m Fund to provide a $400 guaranteed monthly income for up to 24 months to 3,000 immigrant families. Going beyond cash support, the program pairs monthly payments with access to the organization's credit building products, financial education courses, one-on-one coaching, and self-advocacy training to help participants rebuild and recover faster.
Lending circles - in 2008, the organization launched the lending circles social loan program, introducing a new strategy rooted in the global tradition of group lending that enables low-income families to build credit, reduce debt, and improve their financial security. In response to the covid-19 pandemic, the organization temporarily embedded greater flexibility in the lending circles program to help clients weather financial challenges, including options to implement a 3-month loan forbearance, put a one-month hold on payments, or restructure loan payments. In partnership with a nationwide network of nonprofits, the organization provides lending circles through both direct programs in California and nationwide. Paired with timely, actionable, and culturally-relevant financial education, the lending circles program has been widely acclaimed for its impact, helping thousands of participants access safe and affordable capital, build credit, and establish a foothold in the u.s. Mainstream financial system.business microloans - in 2012, the organization built on the successful lending circles model to provide zero-interest, credit-building capital to entrepreneurs and micro-business owners in California's bay area. Through lending circles for business, prior lending circles clients received business-specific technical assistance, financial coaching, and direct loans of up to $2,500 to invest in their business. In 2021, the organization restructured the program to meet the needs of a growing community of entrepreneurs navigating the covid-19 pandemic through new business creation. The organization's revamped business microloan program serves clients across the state of California with no requirements on prior program participation. In addition, the organization expanded offerings through mymaf, an in-house mobile application where users are accessing pathways to financial empowerment through a vast digital financial education and coaching library.

Who funds Mission Asset Fund (MAF)

Grants from foundations and other nonprofits
JP Morgan Chase FoundationIn Support of Financial Health$1,000,000
Sergey Brin Family FoundationGeneral Operating Support$500,000
James Irvine FoundationTo Support Workforce Development$500,000
...and 21 more grants received totalling $4,436,259

Personnel at MAF

Jose QuinonezChief Executive Officer$250,000
Daniela SalasFounder and Chief Operating Officer$233,375
Jorge ContrerasClient Success Director / Partner Management Director
Emily BurchfieldHuman Resources and Operations Director$129,664
Biniam HaileFinance Director$149,967
...and 40 more key personnel

Financials for MAF

RevenuesFYE 12/2022
Total grants, contributions, etc.$7,517,022
Program services$253,353
Investment income and dividends$1,294,917
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-44,249
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$9,021,043

Form 990s for MAF

Fiscal year endingDate received by IRSFormPDF link
2022-122023-07-25990View PDF
2021-122022-07-20990View PDF
2020-122021-06-24990View PDF
2019-122020-11-10990View PDF
2018-122019-09-13990View PDF
...and 10 more Form 990s
Data update history
December 24, 2023
Received grants
Identified 7 new grant, including a grant for $1,000,000 from JP Morgan Chase Foundation
August 25, 2023
Posted financials
Added Form 990 for fiscal year 2022
August 22, 2023
Updated personnel
Identified 2 new personnel
August 19, 2023
Used new vendors
Identified 1 new vendor, including
August 10, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Grantmaking organizationsCharities
ReligionCommunity improvementEconomic development
Funds one specific organizationReligiousLobbyingReceives government fundingTax deductible donations
General information
3269 Mission St
San Francisco, CA 94110
Metro area
San Francisco-Oakland-Berkeley, CA
San Francisco County, CA
Website URL
(888) 274-4808
Facebook page
Twitter profile
IRS details
Fiscal year end
Taxreturn type
Form 990
Year formed
Eligible to receive tax-deductible contributions (Pub 78)
NTEE code, primary
X11: Religion-Related Single Organization Support
NAICS code, primary
522120: Savings Institutions
Parent/child status
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