Better Business Bureau

Charity Contact Information BBB Wise Giving Alliance Comments Programs

Tax Status Governance Fund Raising Financial

Name:	Grameen Foundation
Address:	1101 15th Street NW, 3rd Floor
	Washington, DC 20005
Phone:	202-628-3560
Web Address:	www.grameenfoundation.org

Grameen Foundation (GFUSA) meets the 20 Standards for Charity Accountability.

GFUSA helps the world's poor, especially women, improve their lives and escape poverty by providing them with access to small loans, essential information, and income-generating opportunities. Through microfinance and mobile phone-based technology, the organization works to make a difference in the lives of those who have been left behind. The organization does this by helping local microfinance institutions and other poverty-focused organizations become more effective and efficient, enabling them to reach more poor people with small loans and other financial services. GFUSA works with these organizations to help them find financing, ensure that their staff are as productive as possible, and help them demonstrate that their efforts are reaching the poor. Working with local and global allies, the organization also creates mobile phone-based solutions to address the devastating effects that “information poverty” can have on people. GFUSA helps the poor to better manage their health, their crops and their finances, and even to find new income-generating opportunities, enabling them to improve their lives and break the cycle of poverty for themselves and their families.

For the fiscal year ended March 31, 2010, GFUSA's program expenses were:

Technology	6,424,600
Microfinance	4,447,627
Regional programs	3,042,140
Public education	1,118,279
Total Program Expenses:	$15,032,646

Chief Executive : Alexander Counts, President and CEO

Compensation*:

$165,045

Chair of the Board: Paul Maritz
Chair's Profession / Business Affiliation: CEO of VMware Corporation

Board Size: 16

Paid Staff Size: 143

*April 1, 2009 - March 31, 2010 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.

Method(s) Used:

Direct mail, telemarketing, special events, print advertisements, radio, grant proposals, Internet appeals, and planned giving.

Fund raising costs were 2% of related contributions. (Related contributions, which totaled $25,039,910, are donations received as a result of fund raising 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 GFUSA's audited financial statements for the fiscal year ended March 31, 2010.

Source of Funds
Contributions and grants	22,672,081
In-kind contributions	2,367,829
Program revenues	1,230,453
Interest and investment income	382,458
Loan interest	193,476
Total Income	$26,846,297

Uses of Funds as a % of Total Expenses

Programs: 80%  Fund Raising: 2%  Administrative: 18%

Total income				$26,846,297
	Program expenses			$15,032,646
	Fund raising expenses			450,051
	Administrative expenses			3,437,414
Total expenses				$18,920,111
Income in Excess of Expenses				7,926,186
Beginning net assets				24,050,783
Other Changes in Net Assets				(178,063)
Ending net assets				31,798,906
Total liabilities				1,345,093
Total assets				$33,143,999

Note: For the fiscal year ended March 31, 2010, GFUSA reported in-kind contributions of $2,367,829, which included professional services ($955,237), legal service ($877,052), advertising ($315,410), and software development ($220,130).

Note 2: In the above financial section, the -$178,063 for "other cahnges in net assets" represents allowances for uncollectable loans receivable and foreign exchange risk as well as present value discount of loans receivable combined with refund of unspent grant funds.