BBB Wise Giving Report for
TechnoServe

BBB Wise Giving Report issued October 2010
BBB Wise Giving Report expires October 2012


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: TechnoServe
Address: 148 East Avenue, Suite 3H
  Norwalk, CT 06851
Phone: 203-852-0377
800-999-6757
Web Address: www.technoserve.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 1969, New York
Affiliates: The Center for Business Promotion and Entrepreneurship, Techno Nicaragua, TechnoServe Swaziland, Community Enterprise Development and Investment Trust, TechnoServe South Africa, Foundacion TechnoServe, Mapato - Tanzania
Stated Purpose: "to help entrepreneurial men and women in poor areas of the developing world to build businesses that create income, opportunity and economic growth for their families, their communities and their countries."

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Evaluation Conclusions

               

TechnoServe (TS) meets the 20 Standards for Charity Accountability.
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Programs

               

TechnoServe empowers people in the developing world to build businesses that break the cycle of poverty. Growing enterprises generate jobs and other income opportunities for poor people, enabling them to improve their lives and secure a better future for their families. TechnoServe has helped to create or improve thousands of businesses, benefiting millions of people in more than 40 countries.

For the fiscal year ended December 31, 2008, TS's program expenses were:

  
Mozambique 6,938,889
Coffee Initiative 4,512,799
Nicaragua 3,652,267
Ghana 3,511,170
Kenya 2,596,777
Contributed Services (volunteers) 1,960,921
Tanzania 1,713,094
Swaziland 1,605,277
Honduras 1,371,744
Uganda 1,288,979
Peru 1,225,161
South Africa 1,075,745
El Salvador 844,503
Guatemala 496,072
India 386,337
Rwanda 309,531
Africa Region 308,661
Strategic Initiatives 122,185
Colombia 76,221
Total Program Expenses: $33,996,333
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Governance

               

Chief Executive : Bruce McNamer, President & CEO
Compensation*:
 $361,800

Chair of the Board: Paul E. Tierney, Jr.
Chair's Profession / Business Affiliation: Managing Member, Development Capital, LLC

Board Size: 28

Paid Staff Size: 882

*January 1, 2008 to December 31, 2008 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Direct mail, invitations to fund raising events, grant proposals, internet appeals, planned giving arrangements
Fund raising costs were 6% of related contributions. (Related contributions, which totaled $42,210,068, are donations received as a result of fund raising activities.)
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Tax Status

               

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.
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Financial

               

The following information is based on TS's audited financial statements - consolidated for the fiscal year ended December 31, 2008.

Source of Funds  
Contributions and Grants 42,210,068
Contributed Services 1,960,921
Project fees 115,532
Interest and miscellaneous revenue 39,628
Total Income $44,326,149


chart



Uses of Funds as a % of Total Expenses

Programs: 84%  Fund Raising: 6%  Administrative: 10% 

Total income   $44,326,149
  Program expenses $33,996,333
  Fund raising expenses 2,489,222
  Administrative expenses 3,887,303
 
Total expenses   $40,372,858
Income in Excess of Expenses   3,953,291
Beginning net assets   7,893,074
Ending net assets   11,846,365
Total liabilities   33,684,309
Total assets   $45,530,674

Note: total program expenses includes $1,960,921 in services contributed by volunteers as reported in the 2008 audited financial statements.

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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