Overview
What is Grameen Foundation Usa?
Grameen Foundation USA is a nonprofit organization based in Washington, D.C., dedicated to empowering the poor, particularly women, to overcome poverty and hunger. In the fiscal year 2022, they spearheaded 14 digital financial services projects, recruiting nearly 2,000 local agents, known as Mittras, in India. These agents offer financial inclusion and health services to over 100,000 clients residing in remote areas of the country. Additionally, they earn transaction fees to enhance their livelihoods. In the Philippines, 90 last-mile agents were trained on the Valora app, providing crypto-based loans to aspiring entrepreneurs. Similarly, 87 digital financial services agents in Ghana were trained to operate their businesses, now able to serve 100 to 150 clients in their neighborhoods. In Eswatini, an innovation prize was initiated for organizations promoting digital financial literacy among women. The awarded organizations, Imbita and DigImage, expanded their platforms to offer digital payments, emergency loans, and savings accounts to 37,000 and 500 customers, respectively. The mission of Grameen Foundation USA is to create a world without poverty and hunger, which they accomplish by providing financial services and empowering local agents to uplift their communities. Their activities extend beyond financial services, as they also address harmful cultural practices that lead to gender-based violence through training resources.
Official website here: www.grameenfoundation.org
What are the reviews and ratings of this charity?
**: Charity Navigator Rating 84% (Three-Star out of Four Stars )**ar Rating)**
Grameen Foundation USA has received a solid Three-Star rating from Charity Navigator, reflecting good performance in accountability and financial practices. The organization has achieved high scores in key areas, with a notable 100% in Leadership & Adaptability, which emphasizes its commitment to sustainable and impactful practices. This rating underscores Grameen Foundation's mission to empower the poor, particularly women, to overcome poverty and hunger.
The foundation demonstrates strengths in governance, with a fully independent board of directors and a strong financial oversight framework, as indicated by perfect scores in multiple accountability metrics. The organization has a commendable program expense ratio of 74.97%, signaling effective allocation of resources towards its mission-driven activities. While there are areas of potential concern, such as a working capital ratio of only 0.28 years, overall financial management practices appear robust.
User reviews from GreatNonprofits are not currently available, so insights from beneficiaries and stakeholders are not included in this summary. Nonetheless, the foundation's strategic goals, including the scaling of its Community Agent Network and focus on climate-smart agriculture, highlight its forward-thinking approach in addressing complex social issues.
This AI summary has been generated from information found on Charity Navigator.
Is Grameen Foundation Usa legitimate?
Grameen Foundation Usa is a legitimate nonprofit organization registered as a 501(c)(3) entity. Grameen Foundation Usa 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: $953,090
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,524,736
For more financial information, click here
Official website here: www.grameenfoundation.org
What is the mission statement of Grameen Foundation Usa?
Grameen Foundation USA is dedicated to empowering the economically disadvantaged, with a particular focus on women, to eliminate poverty and hunger globally. In the fiscal year 2022, they led 14 digital financial services projects, onboarding nearly 2,000 new agents in India. These agents, known as Mittras, provide vital financial inclusion and healthcare services to over 100,000 clients in remote Indian areas. The agents also earn transaction fees, contributing to their personal improvement. Additionally, 90 last-mile agents in the Philippines were trained on the Valora app, offering crypto-based loans to aspiring entrepreneurs. Furthermore, 87 digital financial services agents in Ghana were trained to operate their businesses, enabling them to serve 100 to 150 clients in their neighborhoods. In Eswatini, Grameen Foundation launched an innovation prize for organizations promoting digital financial literacy among women. The winners, Imbita and Digimage, were able to expand their platforms, offering digital payments, emergency loans, and savings accounts to thousands of customers. They also trained women on resources for mitigating gender-based violence.
Official website here: www.grameenfoundation.org
Who is the CEO of Grameen Foundation Usa?
Zubaida Bai is the Chair of Grameen Foundation Usa. The CEO's salary of Grameen Foundation Usa is $180,089 and their total compensation is $186,748.
Official website here: www.grameenfoundation.org
What is the revenue of Grameen Foundation Usa?
Grameen Foundation Usa's revenue in 2022 was $10,571,497.
Official website here: www.grameenfoundation.org
Who are the executives of Grameen Foundation Usa and what are their salaries?
The average compensation at Grameen Foundation Usa during 2022 was $115,928. There are 30 employees and 45 volunteers at Grameen Foundation Usa.
Here are 28 key members and their salaries (Grameen Foundation Usa's CEO's salary is $180,089 and their total compensation is $186,748):
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- Compensation: $180,089
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- Other: $5,825
Official website here: www.grameenfoundation.org
Where can I find the form 990 for Grameen Foundation Usa?
Grameen Foundation Usa's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.grameenfoundation.org
Learn more at the official website: www.grameenfoundation.org
Mission Statement of Grameen Foundation Usa
Grameen Foundation USA is committed to empowering the impoverished, with a particular focus on uplifting women, to establish a world devoid of poverty and hunger. This nonprofit organization undertakes various initiatives to accomplish this mission. One of its primary activities involves providing digital financial services. In the fiscal year 2022, Grameen Foundation USA led 14 digital financial projects, onboarding nearly 2,000 new Mittras, or community agents, in India. These Mittras offer critical financial inclusion and health services to thousands of clients residing in remote areas of the country. The Mittras also earn transaction fees, thereby improving their own living conditions.
Furthermore, Grameen Foundation USA trained an additional 90 last-mile agents in the Philippines on the Valora app, which provides crypto-based loans to aspiring entrepreneurs. Additionally, 87 digital financial services agents in Ghana were trained to operate their businesses, enabling them to serve 100 to 150 clients in their neighborhoods. In Eswatini, Grameen Foundation USA launched an innovation prize for organizations promoting digital financial literacy among women. The winners, Imbita and Digimage, used the prize money to expand their platforms, offering digital payments, emergency loans, and savings accounts to over 37,000 customers and onboarding an additional 500 women to their Epaynet platform. The trained agents also received resources on gender-based violence mitigation, addressing harmful cultural practices leading to gender-based violence. Overall, Grameen Foundation USA's mission is centered around empowering the poor, particularly women, to create a world free from poverty and hunger through various financial services and initiatives.
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Impact
July, 2024
Grameen Foundation USA is making a significant impact by enabling the poor, particularly women, to access financial services and improve their lives. In FY22, they led 14 digital financial services projects, onboarded nearly 2,000 new community agents in India, and trained agents in the Philippines and Ghana to provide essential services to their communities. In Eswatini, they initiated an innovation prize to promote digital financial literacy among women, resulting in the growth of platforms offering services to thousands of customers. By addressing gender-based violence and harmful cultural practices, Grameen Foundation USA is actively working towards a world without poverty and hunger.
This information is meant to be a general summary of Grameen Foundation Usa. 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: $48,210
- Program Service Revenue: $951,135
- Gross Receipts: $11,748,599
Assets and Liabilities:
- Total Assets: $9,461,534
- Total Liabilities: $5,486,088
- Net Assets: $3,975,446
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$951,135
Organization Details
Founding Year
1996
Phone
(202) 628-3560Principal Officer
Zubaida Bai
Main Address
1400 K STREET NW 1255, WASHINGTON, DC, 20005
Website
www.grameenfoundation.orgNTEE Category
Code: Q300 - International
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