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The FT245 USB FIFO Board (mini) is an accessory board that provides a USB to parallel FIFO interface, with FT245 chip onboard, also features USB mini-AB connector, and control interface (8 data pins & 6 control pins). The FT245 USB FIFO Board (mini) is ideal for establishing communication between MCU and PC.
FT245 Datasheet [FTDI]
There is also a jumper used for selecting VCC output level provided on the board:
Short the jumper to select output voltage level as 5V or 3.3V. In this case, the accessory board is powered from USB connection and provides power to the target application board If the jumper is open, the accessory board should be powered from the target application board (3.3V-5V)