Form 990 for tax year 2023

Filed by GRAMEEN FOUNDATION USA.

Totals

Total revenue: $7,973,209
Total expenses: $9,223,393
Contributions and grants received: $6,773,804
Grants paid: $283,012
Program service revenue: $1,064,899
Investment income: $104,300
Other revenue: $30,206
Total assets, end of year: $5,411,694
Total liabilities, end of year: $3,638,214
Net assets or fund balances, end of year: $1,773,480
Program services expenses (Part IX): $6,024,804
Management and general expenses: $2,870,578
Fundraising expenses: $328,011
Program service expenses (Part III): $6,024,804

Program services were 65.3% 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.

1d · Related organizations

$306,000
1e · Government grants (contributions)

$2,033,170
1f · All other contributions, gifts and grants

$4,434,634
1g · Noncash contributions included above

$47,573
2a · Program service revenue: PROGRAM FEES

total $1,064,899 · related or exempt $1,064,899
3 · Investment income

total $104,756 · excluded $104,756
7a · Gross sales of assets other than inventory

securities $47,056
7b · Less cost or other basis and sales expenses

securities $47,512
7c · Gain or loss

securities -$456
7d · Net gain or loss

total -$456 · excluded -$456
11a · Other revenue: GAIN ON VALUATION OF P

total $141,952 · excluded $141,952
11b · Other revenue: OTHER REVENUE

total $17,623 · excluded $17,623
11c · Other revenue: CREDIT LOSS EXPENSE

total -$51,284 · excluded -$51,284
11d · All other revenue

total -$78,085 · excluded -$78,085
11e · Other revenue, total

$30,206

Functional expenses

Part IX, the statement of functional expenses.

3 · Grants to foreign organizations and individuals

total $283,012 · program services $283,012
5 · Compensation of officers, directors and key employees

total $1,154,313 · program services $164,434 · management and general $914,082 · fundraising $75,797
7 · Other salaries and wages

total $2,606,337 · program services $1,810,392 · management and general $681,550 · fundraising $114,395
8 · Pension plan contributions

total $32,433 · program services $19,580 · management and general $11,079 · fundraising $1,774
9 · Other employee benefits

total $326,212 · program services $170,575 · management and general $135,724 · fundraising $19,913
10 · Payroll taxes

total $254,235 · program services $120,192 · management and general $116,695 · fundraising $17,348
11b · Fees: legal

total $9,957 · program services $8,717 · management and general $1,236 · fundraising $4
11c · Fees: accounting

total $156,002 · program services $24,118 · management and general $131,698 · fundraising $186
11f · Fees: investment management

total $600 · management and general $600
11g · Fees: other

total $2,668,873 · program services $2,274,653 · management and general $381,084 · fundraising $13,136
12 · Advertising and promotion

total $35,883 · program services $35,353 · management and general $530
13 · Office expenses

total $158,986 · program services $45,580 · management and general $60,416 · fundraising $52,990
14 · Information technology

total $484,793 · program services $308,605 · management and general $162,906 · fundraising $13,282
16 · Occupancy

total $88,332 · program services $54,659 · management and general $29,285 · fundraising $4,388
17 · Travel

total $372,331 · program services $262,435 · management and general $109,818 · fundraising $78
19 · Conferences, conventions and meetings

total $215,207 · program services $160,267 · management and general $54,901 · fundraising $39
23 · Insurance

total $81,261 · program services $40,390 · management and general $35,545 · fundraising $5,326
24a · Other expenses: EQUIP/VEH, REPAIR/MAINT

total $94,263 · program services $93,333 · management and general $811 · fundraising $119
24b · Other expenses: TRANSFER PRICING MARGIN

total $87,203 · program services $87,203
24c · Other expenses: DUES AND CONFERENCE

total $45,769 · program services $8,055 · management and general $37,710 · fundraising $4
24d · Other expenses: TAXES AND LICENSES

total $33,882 · program services $22,995 · management and general $1,983 · fundraising $8,904
24e · All other expenses

total $33,509 · program services $30,256 · management and general $2,925 · fundraising $328

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $3,834,160 · end of year $1,254,113
2 · Savings and temporary cash investments

beginning of year $2,047,920 · end of year $1,427,351
3 · Pledges and grants receivable

beginning of year $515,035 · end of year $575,319
4 · Accounts receivable

beginning of year $235,515 · end of year $248,376
9 · Prepaid expenses and deferred charges

beginning of year $357,966 · end of year $361,159
10a · Land, buildings and equipment: cost or other basis

$145,899
10b · Land, buildings and equipment: accumulated depreciation

$145,899
10c · Land, buildings and equipment, net

beginning of year $0 · end of year $0
11 · Investments: publicly traded securities

beginning of year $949,708 · end of year $1,018,415
13 · Investments: program-related

beginning of year $685,588 · end of year $497,773
15 · Other assets

beginning of year $181,513 · end of year $29,188
17 · Accounts payable and accrued expenses

beginning of year $1,257,194 · end of year $1,190,338
19 · Deferred revenue

beginning of year $699,202 · end of year $459,183
25 · Other liabilities

beginning of year $3,851,036 · end of year $1,988,693
27 · Net assets without donor restrictions

beginning of year $2,901,358 · end of year $1,773,480
28 · Net assets with donor restrictions

beginning of year $98,615 · end of year $0

Mission and programs · 2023

Mission

GRAMEEN FOUNDATION USA (GRAMEEN) IS COMMITTED TO BREAKING THE CYCLE OF POVERTY BY SUPPORTING WOMEN AND UNDERSERVED COMMUNITIES WITH THE RESOURCES THEY NEED TO THRIVE. OUR INNOVATIVE PROGRAMS ARE DESIGNED TO PROVIDE INDIVIDUALS, ESPECIALLY WOMEN, WITH ACCESS TO FINANCIAL SERVICES, TECHNOLOGY, AND KNOWLEDGE, ENABLING THEM TO BUILD SUSTAINABLE LIVELIHOODS. THROUGH A UNIQUE BLEND OF TECHNOLOGY-DRIVEN SOLUTIONS AND LOCALLY-LED INTERVENTIONS, GRAMEEN CONTINUES TO FOSTER ECONOMIC RESILIENCE, FINANCIAL INCLUSION, AND SOCIAL CHANGE IN SOME OF THE MOST VULNERABLE REGIONS OF THE WORLD. SIGNATURE PROGRAMS ARE CENTERED AROUND WOMEN ENTREPRENEURS, SMALLHOLDER FARMERS, AND YOUNG WOMEN, EXECUTED THROUGH OUR ABILITY TO INNOVATE, ADAPT TO EMERGING CHALLENGES, AND BUILD STRONGER, MORE RESILIENT COMMUNITIES.

Activities or mission (Part I)

SEE PART III, LINE 1.

INVESTHER: HOLISTIC PROGRAMMING FOR WOMEN ENTREPRENEURS: IN FY24, GRAMEEN FOUNDATION USA (GRAMEEN) LED 20 FINANCIAL AND AGRICULTURAL SERVICES PROJECTS FOCUSED ON SUPPORTING PRIMARILY WOMEN ENTREPRENEURS AND YOUNG WOMEN WITH INCREASED ABILITY TO GROW INCOME, AGENCY, AND RESILIENCE. WE ONBOARDED OVER 600,000 NEW COMMUNITY AGENTS, INDIVIDUALS WHO PROVIDE CRITICAL FINANCIAL INCLUSION AND HEALTH SERVICES. ON AVERAGE, AGENTS REACH BETWEEN 150-400+ CLIENTS IN REMOTE AREAS OF THE WORLD AND SUPPORT CLIENTS WITH ACCESS TO FINANCIAL SERVICES (LIKE DIGITAL BILL PAYMENT AND ELECTRONIC TRANSFERS, THROUGH WHICH ACTIVITIES THEY INCREASE THEIR INCOME BY 20-70%.ONE KEY AREA OF GRAMEEN'S PROGRAMMING FOCUSES ON REFUGEES IN UGANDA, WHERE INTERVENTIONS LED TO INCREASED INCOME AND DRAMATICALLY DECREASED INTEREST RATES ON LOANS TO SUPPORT ENTREPRENEURSHIP.

Expenses $3,553,589 · Grants $279,809
STRENGTHENING ORGANIZATIONS: BANKERS WITHOUT BORDERS (BWB): GRAMEEN FOUNDATION USA'S (GRAMEEN) VOLUNTEER PROGRAM HAS OVER 26,500 VOLUNTEERS. IN FY24, BWB VOLUNTEERS CONTRIBUTED UP TO 8,270 VOLUNTEER HOURS, ESTIMATED AT USD $1,022,044. SINCE THE PROGRAM'S INCEPTION, BWB VOLUNTEERS HAVE CONTRIBUTED AN ESTIMATED IN-KIND SERVICES OF $31,972,460, PROVIDING VOLUNTEER TECHNICAL ASSISTANCE TO 398 CLIENTS IN 45 COUNTRIES.GRAMEEN FOUNDATION BUILDS UP THE INTERNATIONAL DEVELOPMENT SYSTEMS THAT SUPPORT MILLIONS OFWOMEN AND GIRLS AS THEY WORK THEIR WAY OUT OF POVERTY. WE FOCUS ON EQUIPPING LOCAL ORGANIZATIONS, STAKEHOLDERS, AND FINANCIAL PROVIDERS WITH ACCESSIBLE TECHNOLOGY AND TRAINING TO HELP THEM SERVICE MARGINALIZED FAMILIES. WE DO THIS THROUGH PROGRAMMATIC WORK AS WELL ASTHROUGH OUR WHOLLY OWNED SUBSIDIARY, TAROWORKS, WHICH PROVIDES AN OFFLINE MOBILE APP BUILDER ALLOWING NONPROFITS AND SOCIAL ENTERPRISES TO EMPOWER FRONTLINE AGENTS WITH INFORMATION CAPITALAND MAKE DATA-DRIVEN DECISIONS. TAROWORKS WORKED WITH 53 ORGANIZATIONS EMPOWERING OVER 10,000 FRONTLINE AGENTS WITH DIGITAL TOOLS TO TOUCH THE LIVES OF OVER 13 MILLION PEOPLE IN THEIR COMMUNITIES TO PROVIDE CRITICAL SERVICES AND PRODUCTS.

Expenses $1,190,087 · Revenue $1,064,899
TOGETHER WE GROW: HOLISTIC PROGRAMMING FOR SMALLHOLDER FARMERS: IN FY24, GRAMEEN FOUNDATION USA (GRAMEEN) CONTINUED ITS WORK TO HELP SMALLHOLDER FARMERS, ESPECIALLY WOMEN, REDUCE THEIR VULNERABILITY TO SHOCKS SUCH AS CLIMATE CHANGE, CROP DISEASES, PESTS, AND MARKET VULNERABILITY WITH 4 PROJECTS PRIMARILY FOCUSED ON AGRICULTURE. AGRIPATH IS A 5-YEAR ACTION-RESEARCH PROJECT SPANNING FIVE COUNTRIES, WHICH AIMS TO PROVIDE GLOBAL, LOCAL IMPLEMENTING AND RESEARCH PARTNERS EVIDENCE AS TO WHAT THE MOST CRITICAL LEVERS ARE FOR DIGITAL AGRICULTURAL ADVISORY SERVICES (DAS) TO REACH SMALLHOLDERS, ESPECIALLY WOMEN. GRAMEEN IS GENERATING A TOOLKIT FOR DAS PARTNERS TO SUPPORT THEM TO BUILD AND ENABLE AGENT NETWORKS TO REACH SMALLHOLDERS AT SCALE.IN THE PHILIPPINES, WE HAVE TWO AGRICULTURE-CENTRIC PROJECTS. ONE IS CALLED THE SUSTAINABLE COCONUT PROJECT AND DURING FY24, WE ACTIVELY ONBOARDED AN ADDITIONAL 2 COOPERATIVES; WE ARE NOW ENGAGING A TOTAL OF 12 COOPERATIVES. WE ARE WORKING WITH THESE COOPERATIVES, AND MORE THAN 10,000 OF THEIR MEMBERS WHO GROW COPRA, TO INCREASE THE SUPPLY OF AND STRENGTHEN THE QUALITY OF SUSTAINABLE COCONUT OIL. THIS GENERATES IMPACT FOR THE PRODUCERS AND COOPERATIVES WHO ARE INVOLVED AND BUILDS A BUSINESS CASE FOR SUSTAINABLE COCONUT OIL FOR OTHER INDUSTRY BUYERS.IN INDIA, GRAMEEN IS WORKING WITH 47 FARMER PRODUCER ORGANIZATIONS (FPOS) ACROSS TWO STATES, REACHING OVER 40,000 SMALLHOLDER FARMERS. THE PROJECT AIMS TO STRENGTHEN THE FPOS' INCLUSIVE BUSINESS LINES THAT STRENGTHEN WOMEN SMALLHOLDER FARMER MEMBERS' INCOMES AND RESILIENCE.

Expenses $785,818
REGIONAL PROGRAMS: IN TOTAL GRAMEEN ENGAGED 58 LOCAL PARTNERS ACROSS ALL PROGRAMS, AND THEY HAVE ALSO BEEN TRAINED ON GENDER-BASED VIOLENCE MITIGATION RESOURCES, AND TOGETHER WE'RE ADDRESSING HARMFUL CULTURAL PRACTICES THAT RESULT IN GENDER-BASED VIOLENCE.GRAMEEN FOUNDATION USA (WITH FREEDOM FROM HUNGER AS A SUPPORTING ORGANIZATION) SERVES POOR COMMUNITIES IN ASIA, LATIN AMERICA, AND SUB-SAHARAN AFRICA. IN INDIA, WE WORK THROUGH OUR WHOLLY-OWNED SUBSIDIARY, GRAMEEN FOUNDATION INDIA PRIVATE LIMITED. WE ARE ALSO PARTNERS IN A JOINT VENTURE, GRAMEEN CAPITAL INDIA.IN FY24, WE HAD ACTIVE PROJECTS IN EL SALVADOR, ESWATINI, GHANA, GUATEMALA, HONDURAS, INDIA, PHILIPPINES, SENEGAL, SRI LANKA, TIMOR LESTE, UGANDA, PALAU, NAURU, TUVALU, BURKINA FASO, TANZANIA, AND NEPAL AND THE MARSHALL ISLANDS.

Expenses $247,687 · Grants $3,203
PUBLIC EDUCATION: IN FY24, GRAMEEN FOUNDATION RAISED PUBLIC AWARENESS ABOUT SUCCESSFUL POVERTY EFFORTS THROUGH IN PERSON EVENTS, WEBINARS, BLOGS, SOCIAL MEDIA POSTS, AND PRINT AND EMAIL PUBLICATIONS, PLUS SPEAKING ENGAGEMENTS BY OUR CEO.

Expenses $247,623

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Elisabeth Holmes RhyneELISABETH HOLMES RHYNE

CHAIR

Total calculated

$0

Hours/week

4 + 2 related
Neela SaldanhaNEELA SALDANHA

VICE CHAIR (UNTIL 02/2024)

Total calculated

$0

Hours/week

4
Jennifer DarlingtonJENNIFER DARLINGTON

SECRETARY

Total calculated

$0

Hours/week

4
Arthur GoshinARTHUR GOSHIN

TREASURER

Total calculated

$0

Hours/week

4 + 2 related
Beverly Morris ArmstrongBEVERLY MORRIS ARMSTRONG

BOARD MEMBER

Total calculated

$0

Hours/week

4 + 2 related
Marie-Renee BakkerMARIE-RENEE BAKKER

BOARD MEMBER

Total calculated

$0

Hours/week

4
Sheila ChestonSHEILA CHESTON

BOARD MEMBER

Total calculated

$0

Hours/week

4
Kathy DyerKATHY DYER

BOARD MEMBER (UNTIL 02/2024)

Total calculated

$0

Hours/week

4
Carlos Jose FonsecaCARLOS JOSE FONSECA

BOARD MEMBER

Total calculated

$0

Hours/week

4
Vikram GandhiVIKRAM GANDHI

BOARD MEMBER

Total calculated

$0

Hours/week

4
Lauren HendricksLAUREN HENDRICKS

BOARD MEMBER

Total calculated

$0

Hours/week

4
Leslie HymanLESLIE HYMAN

BOARD MEMBER

Total calculated

$0

Hours/week

4
Gopi KallayilGOPI KALLAYIL

BOARD MEMBER

Total calculated

$0

Hours/week

4
Jeffrey ScottJEFFREY SCOTT

BOARD MEMBER

Total calculated

$0

Hours/week

4
Debopama SenDEBOPAMA SEN

BOARD MEMBER (FROM 11/2023)

Total calculated

$0

Hours/week

4
Marianne Udow-PhillipsMARIANNE UDOW-PHILLIPS

BOARD MEMBER (UNTIL 03/2024)

Total calculated

$0

Hours/week

4 + 2 related
Daniel Benjamin WolfsonDANIEL BENJAMIN WOLFSON

BOARD MEMBER

Total calculated

$0

Hours/week

4
Zubaida BaiZUBAIDA BAI

PRESIDENT & CEO

Total calculated

$309,054

From this org

$290,502

From related orgs

$0

Other

$18,552

Hours/week

38 + 2 related

Schedule J breakdown matched by us

Base

$290,502

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$18,552

Filer's total

$309,054
Hermina Rubio GutierrezHERMINA RUBIO GUTIERREZ

ACTING CFO

Total calculated

$191,034

From this org

$191,034

From related orgs

$0

Other

$0

Hours/week

38 + 2 related

Schedule J breakdown matched by us

Base

$191,034

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$191,034
Cesar DuronCESAR DURON

DIRECTOR, GLOBAL HUMAN RESOURCES

Total calculated

$160,211

From this org

$132,243

From related orgs

$0

Other

$27,968

Hours/week

38 + 2 related

Schedule J breakdown matched by us

Base

$132,243

Bonus

$0

Other

$0

Deferred

$2,791

Nontaxable benefits

$25,177

Filer's total

$160,211
Amelia KuklewiczAMELIA KUKLEWICZ

EXECUTIVE VICE PRESIDENT PROGRAMS

Total calculated

$154,263

From this org

$126,948

From related orgs

$0

Other

$27,315

Hours/week

38 + 2 related

Schedule J breakdown matched by us

Base

$126,948

Bonus

$0

Other

$0

Deferred

$4,071

Nontaxable benefits

$23,244

Filer's total

$154,263
Kate BartholomeuszKATE BARTHOLOMEUSZ

SR DIR., DEV'L, MRKTING & COMM.

Total calculated

$139,328

From this org

$123,056

From related orgs

$0

Other

$16,272

Hours/week

38 + 2 related
Brianne FischerBRIANNE FISCHER

GENERAL COUNSEL

Total calculated

$110,165

From this org

$110,165

From related orgs

$0

Other

$0

Hours/week

19 + 1 related
Marlen DivinaMARLEN DIVINA

DIRECTOR, FINANCE

Total calculated

$48,012

From this org

$47,425

From related orgs

$0

Other

$587

Hours/week

38 + 2 related
Arlyn Gigi GattiARLYN GIGI GATTI

DIRECTOR, TECHNOLOGY FOR DEVELOPMENT

Total calculated

$147,231

From this org

$129,830

From related orgs

$0

Other

$17,401

Hours/week

40
Emily RomeroEMILY ROMERO

SR DIRECTOR, INSTITUTIONAL RELATIONS

Total calculated

$140,665

From this org

$134,340

From related orgs

$0

Other

$6,325

Hours/week

40
Sabrina QuaraishiSABRINA QUARAISHI

DIRECTOR, BANKERS WITHOUT BORDERS

Total calculated

$136,873

From this org

$122,150

From related orgs

$0

Other

$14,723

Hours/week

40
Elaine ChangELAINE CHANG

TAROWORKS COO

Total calculated

$127,342

From this org

$116,974

From related orgs

$0

Other

$10,368

Hours/week

40
Lakshmi IyerLAKSHMI IYER

DIR. OF INNOVATION IN AGRICULTURE

Total calculated

$121,340

From this org

$120,084

From related orgs

$0

Other

$1,256

Hours/week

40
Conan WickhamCONAN WICKHAM

FORMER OFFICER

Total calculated

$123,429

From this org

$115,336

From related orgs

$0

Other

$8,093

Hours/week

10

Schedule J breakdown matched by us

Base

$115,336

Bonus

$0

Other

$0

Deferred

$1,565

Nontaxable benefits

$6,528

Filer's total

$123,429

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

3 · Compensation survey or study
3 · Approval by the board or compensation committee

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
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

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

No itemized grants to organizations on this return.

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.

FREEDOM FROM HUNGER

501(C)(3) · SUPPORTING ORGANIZATION TO GRAMEEN FOUNDATION USA · CA · controlled entity

Directly controlled by GRAMEEN FOUNDATION USA
GRAMEEN FOUNDATION FOR SOCIAL IMPACT

501(C)(3) · ACTIVITIES AND SERVICES THAT IMPACT THE LIVES OF THE POOR, ESPECIALLY WOMEN · IN · controlled entity

Directly controlled by GRAMEEN FOUNDATION INDIA

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.

TAROWORKS LLC

MOBILE PRODUCTS TO HELP SOCIAL ENTERPRISES · DE · income $1,187,936 · assets $375,756

Directly controlled by GRAMEEN FOUNDATION USA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

GRAMEEN FOUNDATION INDIA PRIVATE LIMITED

C · MICROFINANCE AND TECHNOLOGY SERVICES TO BENEFIT THE POOR · IN · 100% owned · share of income $968,984 · share of assets $691,877 · controlled entity

Directly controlled by GRAMEEN FOUNDATION USA
GRAMEEN IMPACT VENTURES PRIVATE LIMITED

C · SCALABLE INNOVATIVE DIGITAL SOLUTIONS TO BENEFIT LOW-INCOME COMMUNITIES · IN · 100% owned · share of income $166,158 · share of assets $61,534 · controlled entity

Directly controlled by GRAMEEN FOUNDATION INDIA PRIVATE LIMITED

Provenance

Return type: form_990
Tax year: 2023
Filed: 13 May 2025
IRS schema version: 2023v6.0
Source object: 202511339349306571

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