GRAMEEN FOUNDATION USA

EIN: 731502797 501(c)(3) International Affairs

WASHINGTON, DC

Total Revenue
$7,973,209
Total Expenses
$9,223,393
Total Assets
$5,411,694
Net Assets
$1,773,480
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
OK
Principal Officer
ZUBAIDA BAI
Phone
2026283560
Tax Period
2023-07-01 to 2024-06-30

GRAMEEN FOUNDATION USA, founded in 1996, is a community nonprofit in the International Affairs sector that reported $8.0M in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $9.2M exceeded revenue, resulting in a 16% operating deficit.

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.

Program Service Accomplishments

Program 1
Expenses: $3,553,589

INVESTHER: HOLISTIC PROGRAMMING FOR WOMEN ENTREPRENEURS: IN FY24, GRAMEEN FOUNDATION USA (GRAMEEN) LED 20 FINANCIAL AND AGRICULTURAL SERVICES PROJECTS FOCUSED ON SUPPORTING PRIMARILY WOMEN...

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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.

Program 2
Expenses: $1,190,087 Revenue: $1,064,899

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...

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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.

Program 3
Expenses: $785,818

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...

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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.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $6,773,804
Program Service Revenue $1,064,899
Investment Income $104,300
Other Revenue $30,206
TOTAL REVENUE $7,973,209

Expense Breakdown

Grants Paid $283,012
Salaries & Benefits $4,373,530
Fundraising Expenses $328,011
Program Expenses $6,024,804
Other Expenses $4,566,851
TOTAL EXPENSES $9,223,393

Year-over-Year Comparison

2023 2022 Change
Revenue $7,973,209 $10,394,919 -0.2%
Expenses $9,223,393 $11,427,082 -0.2%
Net Income $-1,250,184 $-1,032,163 +0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
14
Independent Members
14
Employees
29
Volunteers
155

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
11
$1,112,067
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELISABETH HOLMES RHYNE CHAIR 4.00
Officer Director
$0 $0 $0
NEELA SALDANHA VICE CHAIR (UNTIL 02/2024) 4.00
Officer Director
$0 $0 $0
JENNIFER DARLINGTON SECRETARY 4.00
Officer Director
$0 $0 $0
ARTHUR GOSHIN TREASURER 4.00
Officer Director
$0 $0 $0
BEVERLY MORRIS ARMSTRONG BOARD MEMBER 4.00
Director
$0 $0 $0
MARIE-RENEE BAKKER BOARD MEMBER 4.00
Director
$0 $0 $0
SHEILA CHESTON BOARD MEMBER 4.00
Director
$0 $0 $0
KATHY DYER BOARD MEMBER (UNTIL 02/2024) 4.00
Director
$0 $0 $0
CARLOS JOSE FONSECA BOARD MEMBER 4.00
Director
$0 $0 $0
VIKRAM GANDHI BOARD MEMBER 4.00
Director
$0 $0 $0
LAUREN HENDRICKS BOARD MEMBER 4.00
Director
$0 $0 $0
LESLIE HYMAN BOARD MEMBER 4.00
Director
$0 $0 $0
GOPI KALLAYIL BOARD MEMBER 4.00
Director
$0 $0 $0
JEFFREY SCOTT BOARD MEMBER 4.00
Director
$0 $0 $0
DEBOPAMA SEN BOARD MEMBER (FROM 11/2023) 4.00
Director
$0 $0 $0
MARIANNE UDOW-PHILLIPS BOARD MEMBER (UNTIL 03/2024) 4.00
Director
$0 $0 $0
DANIEL BENJAMIN WOLFSON BOARD MEMBER 4.00
Director
$0 $0 $0
ZUBAIDA BAI PRESIDENT & CEO 38.00
Officer
$290,502 $18,552 $309,054
HERMINA RUBIO GUTIERREZ ACTING CFO 38.00
Officer
$191,034 $0 $191,034
CESAR DURON DIRECTOR, GLOBAL HUMAN RESOURCES 38.00
Officer
$132,243 $27,968 $160,211
AMELIA KUKLEWICZ EXECUTIVE VICE PRESIDENT PROGRAMS 38.00
Officer
$126,948 $27,315 $154,263
KATE BARTHOLOMEUSZ SR DIR., DEV'L, MRKTING & COMM. 38.00
Officer
$123,056 $16,272 $139,328
BRIANNE FISCHER GENERAL COUNSEL 19.00
Officer
$110,165 $0 $110,165
MARLEN DIVINA DIRECTOR, FINANCE 38.00
Officer
$47,425 $587 $48,012
ARLYN GIGI GATTI DIRECTOR, TECHNOLOGY FOR DEVELOPMENT 40.00
Highest
$129,830 $17,401 $147,231
EMILY ROMERO SR DIRECTOR, INSTITUTIONAL RELATIONS 40.00
Highest
$134,340 $6,325 $140,665
SABRINA QUARAISHI DIRECTOR, BANKERS WITHOUT BORDERS 40.00
Highest
$122,150 $14,723 $136,873
ELAINE CHANG TAROWORKS COO 40.00
Highest
$116,974 $10,368 $127,342
LAKSHMI IYER DIR. OF INNOVATION IN AGRICULTURE 40.00
Highest
$120,084 $1,256 $121,340
CONAN WICKHAM FORMER OFFICER 10.00
$115,336 $8,093 $123,429
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $7,973,209 $9,223,393 $5,411,694 $-1,250,184
2023 $10,394,919 $11,427,082 $8,807,405 $-1,032,163
2022 $10,571,497 $10,544,828 $9,461,534 $26,669
2021 $10,651,686 $9,665,815 $9,173,315 $985,871
2020 $6,859,549 $8,772,584 $6,589,488 $-1,913,035
2019 $7,618,746 $9,578,861 $8,766,162 $-1,960,115
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