Totals
- Total revenue
- $46,396,843
- Total expenses
- $28,290,820
- Contributions and grants received
- $15,675,525
- Grants paid
- $2,130,000
- Program service revenue
- $29,834,476
- Investment income
- $242,751
- Other revenue
- $644,091
- Total assets, end of year
- $278,769,129
- Total liabilities, end of year
- $128,932,655
- Net assets or fund balances, end of year
- $149,836,474
- Program services expenses (Part IX)
- $26,331,964
- Management and general expenses
- $1,121,890
- Fundraising expenses
- $836,966
- Program service expenses (Part III)
- $26,331,964
Program services were 93.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$1,046,530
-
1f · All other contributions, gifts and grants
$14,628,995
-
1g · Noncash contributions included above
$19,916
-
2a · Program service revenue: INTEREST ON MICROLOANS
total $29,834,476 · related or exempt $29,834,476
-
3 · Investment income
total $246,976 · excluded $246,976
-
7a · Gross sales of assets other than inventory
securities $26,045
-
7b · Less cost or other basis and sales expenses
securities $30,270
-
7c · Gain or loss
securities -$4,225
-
7d · Net gain or loss
total -$4,225 · excluded -$4,225
-
11a · Other revenue: PARTICIPATION INCOME
total $443,991 · excluded $443,991
-
11b · Other revenue: REIMBURSED EXPENSES
total $128,500 · excluded $128,500
-
11c · Other revenue: MANAGEMENT FEE
total $60,000 · excluded $60,000
-
11d · All other revenue
total $11,600 · excluded $11,600
-
11e · Other revenue, total
$644,091
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,130,000 · program services $2,130,000
-
5 · Compensation of officers, directors and key employees
total $1,533,070 · program services $1,170,328 · management and general $125,824 · fundraising $236,918
-
7 · Other salaries and wages
total $12,389,482 · program services $11,584,615 · management and general $425,295 · fundraising $379,572
-
8 · Pension plan contributions
total $162,104 · program services $148,381 · management and general $9,347 · fundraising $4,376
-
9 · Other employee benefits
total $1,159,041 · program services $1,070,839 · management and general $51,231 · fundraising $36,971
-
10 · Payroll taxes
total $1,091,757 · program services $1,009,176 · management and general $33,449 · fundraising $49,132
-
11b · Fees: legal
total $81,230 · program services $81,230
-
11c · Fees: accounting
total $162,618 · management and general $162,618
-
11g · Fees: other
total $663,762 · program services $633,572 · management and general $9,375 · fundraising $20,815
-
12 · Advertising and promotion
total $100,447 · program services $42,783 · management and general $57,186 · fundraising $478
-
13 · Office expenses
total $667,011 · program services $649,755 · management and general $12,132 · fundraising $5,124
-
14 · Information technology
total $1,403,730 · program services $1,277,394 · management and general $126,336
-
16 · Occupancy
total $773,956 · program services $747,754 · management and general $26,202
-
17 · Travel
total $338,903 · program services $281,166 · management and general $41,877 · fundraising $15,860
-
20 · Interest
total $3,186,188 · program services $3,186,188
-
23 · Insurance
total $135,348 · program services $115,046 · management and general $20,302
-
24a · Other expenses: BAD DEBT EXPENSE
total $1,982,066 · program services $1,982,066
-
24b · Other expenses: EQUIP. RENTAL & MAINT.
total $127,388 · program services $45,268 · management and general $1,234 · fundraising $80,886
-
24c · Other expenses: RECRUITMENT EXPENSE
total $77,661 · program services $66,012 · management and general $11,649
-
24d · Other expenses: FILING FEES
total $65,688 · program services $65,688
-
24e · All other expenses
total $59,370 · program services $44,703 · management and general $7,833 · fundraising $6,834
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $43,370,490 · end of year $33,669,407
-
2 · Savings and temporary cash investments
beginning of year $34,442,934 · end of year $31,622,846
-
3 · Pledges and grants receivable
beginning of year $14,479,693 · end of year $7,125,461
-
4 · Accounts receivable
beginning of year $42,156 · end of year $20,406
-
9 · Prepaid expenses and deferred charges
beginning of year $1,732,802 · end of year $1,750,222
-
10a · Land, buildings and equipment: cost or other basis
$386,508
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $386,508
-
13 · Investments: program-related
beginning of year $142,613,655 · end of year $203,233,715
-
15 · Other assets
beginning of year $445,822 · end of year $960,564
-
17 · Accounts payable and accrued expenses
beginning of year $1,940,013 · end of year $3,121,662
-
24 · Unsecured notes and loans payable
beginning of year $103,530,321 · end of year $125,810,993
-
27 · Net assets without donor restrictions
beginning of year $103,008,533 · end of year $124,559,229
-
28 · Net assets with donor restrictions
beginning of year $28,648,685 · end of year $25,277,245
Mission and programs · 2022
Mission
SEE SCHEDULE O.
Activities or mission (Part I)
GRAMEEN AMERICA IS DEDICATED TO HELPING LOW INCOME ENTREPRENEURIAL WOMEN. (SEE SCHEDULE O)
-
GRAMEEN AMERICA IS DEDICATED TO HELPING LOW INCOME ENTREPRENEURIAL WOMEN BUILD SMALL BUSINESSES TO CREATE BETTER LIVES FOR THEMSELVES AND THEIR FAMILIES. WE OFFER MICROLOANS, TRAINING AND SUPPORT TO TRANSFORM COMMUNITIES AND FIGHT POVERTY IN THE UNITED STATES.
Expenses $26,331,964 · Grants $2,130,000 · Revenue $29,834,476
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
ANDREA JUNG
PRESIDENT & CEO
- Total calculated
- $478,356
- From this org
- $463,879
- From related orgs
- $0
- Other
- $14,477
- Hours/week
- 37 + 5 related
Schedule J breakdown matched by us
- Base
- $363,011
- Bonus
- $100,000
- Other
- $868
- Deferred
- $6,929
- Nontaxable benefits
- $7,548
- Filer's total
- $478,356
-
DAVID GOUGH
EXECUTIVE VICE PRESIDENT & CFO
- Total calculated
- $443,164
- From this org
- $425,076
- From related orgs
- $0
- Other
- $18,088
- Hours/week
- 37.5 + 5 related
Schedule J breakdown matched by us
- Base
- $340,582
- Bonus
- $83,750
- Other
- $744
- Deferred
- $9,150
- Nontaxable benefits
- $8,938
- Filer's total
- $443,164
-
DIANA SACCHI
CHIEF HUMAN RESOURCES OFFICER
- Total calculated
- $290,780
- From this org
- $263,832
- From related orgs
- $0
- Other
- $26,948
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $228,940
- Bonus
- $33,750
- Other
- $1,142
- Deferred
- $9,150
- Nontaxable benefits
- $17,798
- Filer's total
- $290,780
-
PATRICIA CHOI
CHIEF TECHNOLOGY OFFICER
- Total calculated
- $260,145
- From this org
- $255,918
- From related orgs
- $0
- Other
- $4,227
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $225,637
- Bonus
- $30,281
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $4,227
- Filer's total
- $260,145
-
HABIB CHOWDHURY
VP, NATIONAL OPERATIONS
- Total calculated
- $242,006
- From this org
- $208,209
- From related orgs
- $0
- Other
- $33,797
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $178,567
- Bonus
- $28,500
- Other
- $1,142
- Deferred
- $7,829
- Nontaxable benefits
- $25,968
- Filer's total
- $242,006
-
ALETHIA MENDEZ
DIVISION PRESIDENT
- Total calculated
- $236,249
- From this org
- $217,772
- From related orgs
- $0
- Other
- $18,477
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $187,616
- Bonus
- $30,000
- Other
- $156
- Deferred
- $9,150
- Nontaxable benefits
- $9,327
- Filer's total
- $236,249
-
MIRIAM BENITEZ NIEVES
SEC. & VP OF LEGAL
- Total calculated
- $224,482
- From this org
- $203,115
- From related orgs
- $0
- Other
- $21,367
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $174,643
- Bonus
- $27,300
- Other
- $1,172
- Deferred
- $9,150
- Nontaxable benefits
- $12,217
- Filer's total
- $224,482
-
MARCUS BERKOWITZ
CHIEF PRODUCT & INNOVATION OFFICER
- Total calculated
- $214,835
- From this org
- $198,602
- From related orgs
- $0
- Other
- $16,233
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $171,446
- Bonus
- $27,000
- Other
- $156
- Deferred
- $2,630
- Nontaxable benefits
- $13,603
- Filer's total
- $214,835
-
RAJITHA SWAMINATHAN
VP, PROGRAM STRATEGY & MEMBER SVCS
- Total calculated
- $196,225
- From this org
- $182,451
- From related orgs
- $0
- Other
- $13,774
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $157,545
- Bonus
- $24,750
- Other
- $156
- Deferred
- $6,226
- Nontaxable benefits
- $7,548
- Filer's total
- $196,225
-
JILL MONUM
VP, DEVELOPMENT & MARKETING
- Total calculated
- $190,843
- From this org
- $181,841
- From related orgs
- $0
- Other
- $9,002
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $161,481
- Bonus
- $20,100
- Other
- $260
- Deferred
- $8,310
- Nontaxable benefits
- $692
- Filer's total
- $190,843
-
PROFESSOR MUHAMMAD YUNUS
CO-CHAIR
- Total calculated
- $8,105
- From this org
- $0
- From related orgs
- $0
- Other
- $8,105
- Hours/week
- 5 + 0.1 related
-
JOHN F MEGRUE
CO-CHAIR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
VIDAR J JORGENSEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
MICHAEL D GRANOFF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
KAREN PRITZKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
MAHMOUD MAMDANI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
HOPE KNIGHT
DIRECTOR (THRU 01/2022)
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
ANTONIA HERNANDEZ
DIRECTOR (THRU 10/2022)
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
BENJAMIN FARKAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
ABDUL HAI KHAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
ROBERT ANNIBALE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
NANDITA BAKHSHI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
LORI DICKERSON FOUCHE
DIRECTOR (AS OF 10/2022)
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
-
JENNIFER R JACKSON
DIRECTOR (AS OF 10/2022)
- Total calculated
- $0
- Hours/week
- 0.5 + 0.1 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · First-class or charter travel
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 7 · Other non-fixed payments
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 1A
- GRAMEEN AMERICA, INC. PERMITS PROFESSOR YUNUS, CHAIRMAN AND ANDREA JUNG, PRESIDENT & CEO TO FLY FIRST CLASS WHEN THEY ARE TRAVELING ON MATTERS PERTAINING TO THE ORGANIZATION'S MISSION.
- PART I, LINE 7
- IN CALENDAR YEAR 2022, GRAMEEN AMERICA PROVIDED BONUSES TO VARIOUS INDIVIDUALS REPORTED ON THE FORM 990 UPON MEETING CERTAIN OBJECTIVE PERFORMANCE-BASED CRITERIA AS OUTLINED IN THE ORGANIZATION'S COMPENSATION POLICY. THE PRESIDENT AND CEO SETS ALL PERFORMANCE OBJECTIVES AND APPROVES ALL BONUSES AT YEAR END. THESE PAYMENTS ARE REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II).
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$1,580,000
PROGRAM SUPPORT
-
$550,000
PROGRAM SUPPORT
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · HEALTH CARE · NY · controlled entity
Directly controlled by GRAMEEN AMERICA
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
FUND MANAGER · DE · income $0 · assets $0
Directly controlled by GRAMEEN AMERICA
-
HOLDING COMPANY · DE · income $0 · assets $0
Directly controlled by GRAMEEN AMERICA
-
MICROLENDING · DE · income $0 · assets $0
Directly controlled by GRAMEEN ELEVATE HOLDINGS LLC
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
GRAMEEN AMERICA (NY) INC
C · INACTIVE · NY · 100% owned · controlled entity
Directly controlled by GRAMEEN AMERICA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 16 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202312899349301476
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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