Grameen Foundation collaborates with public and private institutions to alleviate poverty, distress, and malnutrition; promote health and social welfare; and educate the public with a particular emphasis on the application of information technologies. Through financial digital services, the organization trains female community agents to provide their neighbors digital access to financial resources to improve their lives. Grameen Foundation's Digital Inclusion via Education (DIVE) program in India trains female financial service agents to teach financial literacy to marginalized families. The organization also helps expand digital services to smallholder farmers and strengthen women's savings groups. Grameen Foundation's Farmer-to-Farmer community agents train farmers in financial literacy, financial management, and business development, with a particular focus on women. The organization's Bankers Without Borders program mobilizes volunteers to support the missions of poverty-focused social enterprises. In 2019, Grameen Foundation reports working with 63 partners across several industries and sectors to design and deliver solutions to open opportunities for women and families living in poverty. The organization also raised public awareness about poverty alleviation efforts through outreach activities and publications.
For the year ended June 30, 2019, Grameen Foundation's program expenses were:
Financial services |
$3,095,531 |
Health and agricultural solutions |
$1,503,973 |
Strengthening organizations |
$1,254,854 |
Regional programs |
$972,192 |
Public education |
$616,543 |
Total Program Expenses: |
$7,443,093 |
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Chief Executive
Steve Hollingworth, President and Chief Executive Officer
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Compensation*
$261,052
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Chair of the Board
Peter Cowhey
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Chair's Profession / Business Affiliation
Interim Executive Vice Chancellor for Academic Affairs, UC San Diego
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Board Size
17
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Paid Staff Size
89
*2018 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Planned giving arrangements, Telephone appeals
Fundraising costs were 6% of related contributions. (Related contributions, which totaled $7,388,433, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c) (3) of the Internal Revenue Code.It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Grameen Foundation's audited financial statements - consolidated for the year ended June 30, 2019.
Source of Funds |
Contributions and grants |
$4,879,510 |
Government grants |
$1,804,030 |
Program revenues |
$1,390,525 |
In-kind contributions |
$704,893 |
Interest and investment income, net |
$223,543 |
Other |
$60,838 |
Total Income |
$9,062,799 |
- Programs: 66%
- Administrative: 31%
- Fundraising: 3%
Total Income |
$9,062,799 |
Program expenses |
$7,443,093 |
Fundraising expenses |
$438,928 |
Administrative expenses |
$3,448,076 |
Other expenses |
$0 |
Total expenses: |
$11,330,097 |
Income in Excess of Expenses |
$-2,267,298 |
Beginning Net Assets |
$10,738,409 |
Other Changes In Net Assets |
$-48,860 |
Ending Net Assets |
$8,422,251 |
Total Liabilities |
$1,253,948 |
Total Assets |
$9,676,199 |
Note 1: According to Grameen Foundation's audited financial statements for the year ended June 30, 2019, the organization received in-kind contributions totaling $704,892 in the form of professional services ($573,727), legal services ($71,050), and advertising and other ($60,116).
Note 2: In the financial section above, "other changes in net assets" refers to a foreign exchange rate loss.