Overview
What is Myagro Farms?
Myagro Farms is a nonprofit organization dedicated to empowering smallholder farmers in Western Africa, primarily in Mali, Senegal, and Tanzania, to break free from poverty. With a focus on rural, remote communities where approximately 75% of the population relies on agriculture, Myagro targets farmers living on less than $2 a day, with a significant proportion being women. The organization's unique mobile layaway platform enables farmers to purchase essential seeds and fertilizer in smaller installments using their mobile phones, catering to the challenges of customer trust and client density in these areas. Myagro's mission encompasses delivering high-quality agricultural inputs at the right time for planting seasons and providing agricultural trainings that promote yield-improving techniques. With a workforce of 31 employees, the organization has enrolled approximately 115,000 farmers during calendar year 2022.
Official website here: www.myagro.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 97%, Four-Star out of Four Star rating.
Myagro Farms has achieved an impressive Four-Star rating from Charity Navigator, highlighting its strong performance in accountability and finance. The organization boasts a perfect score in several key areas, such as having an independent board and effective financial oversight, which contribute to a transparent governance structure. With a high program expense ratio of 76.23%, the majority of its expenditures are directed toward its mission-driven initiatives.
The organization demonstrates exceptional financial health, evident from a low liabilities to assets ratio of 0.89% and a working capital ratio of 22.44 years, indicating its long-term sustainability. Additionally, Myagro Farms has shown exemplary fundraising efficiency, raising $0.02 for every dollar spent on fundraising efforts. These factors collectively paint a picture of a nonprofit that is both responsible and effective in its operations.
While the ratings are overwhelmingly positive, potential donors and supporters should consider the areas of focus for the organization and how these align with their personal giving priorities. Overall, Myagro Farms stands out as a nonprofit that exemplifies high standards of financial integrity and accountability.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Myagro Farms?
90% of 6 reviewers on Facebook recommend Myagro Farms. Here is a summary of their reviews:
The general sentiment reflects strong support for Myagro Farms, highlighting their dedication to the cause of helping farmers. Reviewers appreciate the organization's commitment and efforts to improve the lives of agricultural workers.
Overall, those who have interacted with Myagro Farms express satisfaction with its mission and the positive impact it has on the farming community.
This AI summary has been generated from reviews found on Facebook.
Is Myagro Farms legitimate?
Myagro Farms is a legitimate nonprofit organization registered as a 501(c)(3) entity. Myagro Farms submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $836,059
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,465,229
For more financial information, click here
Official website here: www.myagro.org
What is the mission statement of Myagro Farms?
Myagro Farms aims to help smallholder farmers in Western Africa rise above poverty. By 2026, they strive to boost the income of one million farmers by an average of $1.50 per day. Driven by their innovative mobile layaway platform, they deliver high-quality seeds and fertilizers right to farmers before planting seasons. Agricultural training is also provided, focusing on techniques to improve crop harvests.
Official website here: www.myagro.org
Who is the CEO of Myagro Farms?
Anushka Ratnayake is the Ceo & Founder of Myagro Farms. The CEO's salary of Myagro Farms is $209,945 and their total compensation is $209,945.
Official website here: www.myagro.org
What is the revenue of Myagro Farms?
Myagro Farms's revenue in 2022 was $19,430,121.
Official website here: www.myagro.org
Who are the executives of Myagro Farms and what are their salaries?
The average compensation at Myagro Farms during 2022 was $138,751. There are 31 employees and 5 volunteers at Myagro Farms.
Here are 15 key members and their salaries (Myagro Farms's CEO's salary is $209,945 and their total compensation is $209,945):
- Compensation: $209,958
- Related: $0
- Other: $0
- Compensation: $209,945
- Related: $0
- Other: $0
- Compensation: $168,708
- Related: $0
- Other: $0
- Compensation: $166,340
- Related: $0
- Other: $0
- Compensation: $158,333
- Related: $0
- Other: $0
- Compensation: $155,448
- Related: $0
- Other: $0
- Compensation: $149,038
- Related: $0
- Other: $0
- Compensation: $137,011
- Related: $0
- Other: $0
- Compensation: $136,504
- Related: $0
- Other: $0
- Compensation: $92,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.myagro.org
Where can I find the form 990 for Myagro Farms?
Myagro Farms's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.myagro.org
Learn more at the official website: www.myagro.org
Mission Statement of Myagro Farms
Myagro Farms, a mission-driven organization, aims to uplift smallholder farmers in Western Africa from poverty. By 2026, the initiative aspires to enhance the income of one million farmers by $1.50 a day. Myagro Farms achieves this goal through its innovative mobile layaway platform, which empowers farmers to purchase essential seeds and fertilizer in small increments using their mobile phones.
At the heart of Myagro Farms' approach is the belief that timely access to quality agricultural inputs is crucial for farmers to thrive. Myagro Farms' mobile layaway platform bridges the gap between farmers and suppliers, ensuring that farmers have access to the necessary resources in time for the planting season. The organization's dedication to delivering high-quality inputs directly to farmers is a significant step towards improving their livelihoods.
Beyond providing farmers with essential resources, Myagro Farms recognizes the importance of knowledge in boosting agricultural productivity. The organization offers agricultural trainings, imparting harvest-improving techniques to farmers. Myagro Farms' commitment to empowering smallholder farmers in Western Africa extends beyond mere financial gains, as it aims to help them transform their farms and ultimately, their lives.
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Impact
October, 2024
Myagro Farms has made a significant impact on smallholder farmers in Western Africa, particularly in Mali, Senegal, and Tanzania, where agriculture plays a crucial role in the economy. By utilizing a unique mobile layaway platform, farmers can strategically purchase seeds and fertilizers in manageable increments, which aligns with their financial capabilities. This innovative approach fosters greater financial accessibility for farmers living on less than $2 a day, more than half of whom are women.
The program not only provides essential agricultural inputs but also builds trust among farmers through localized entrepreneurs equipped with smartphones. These entrepreneurs serve as critical intermediaries, making it easier for farmers to access the products they need without the burden of upfront costs. Furthermore, Myagro effectively leverages existing savings groups, creating a reliable distribution channel that strengthens community ties and further encourages participation.
With approximately 115,000 farmers enrolled in 2022, Myagro is on a path to significantly enhance the livelihoods of smallholder farmers. The mission to increase their income by $1.50 a day by 2026 aligns with broader goals of poverty alleviation and economic empowerment. Myagro’s efforts address the challenges of customer trust and client density, making a tangible difference in the lives of farmers who traditionally lack access to formal banking systems or mobile money services. Through agricultural training and timely delivery of quality inputs, Myagro not only supports immediate agricultural needs but also promotes long-term sustainable practices that have the potential to transform rural economies.
This information is meant to be a general summary of Myagro Farms. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $445,061
- Gross Receipts: $19,430,121
Assets and Liabilities:
- Total Assets: $122,019,426
- Total Liabilities: $1,096,841
- Net Assets: $120,922,585
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Organization Details
Founding Year
2012
Phone
(503) 313-6371Principal Officer
Anushka Ratnayake
Main Address
131 7th Avenue 160, NEW YORK, NY, 10011
Website
www.myagro.orgNTEE Category
Code: K20 - Food
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