NonprofitsMyagro Farms

Myagro Farms

NEW YORK, NY

Total revenue

$6.0M

Total expenses

$28.4M

Net assets

$32.7M

Grants received

$25.3M

70 grants

EIN

455267449

Tax year

2024

Mission

Myagro's unique mobile layaway platform allows farmers to use their mobile phones to purchase seeds and fertilizer in small increments and provides agricultural training to farmers who invested in myagro packages, sharing harvest-improving agricultural techniques.

Programs

2 programs

Research, development, & evaluation: myagro focuses on data-driven self-reflection and organizational improvement to better understand the challenges faced by rural communities and to deliver value to farmers. In addition to core product delivery and training services offered each agricultural season, myagro innovates with farmers to develop new solutions that address barriers to agricultural success such as climate shock and gender inequity. We also conduct harvest evaluations to better understand program impact, focusing on two key indicators, (1) percent increase in yield and (2) additional net income earned among myagro farmers relative to control farmers. Since 2018, the program has resulted in an average 130% yield increase and $156 additional income earned per farmer. For households living on less than $2 per day, these results have transformative effects: improving family food security, covering school and medical fees, and enabling farmers to reinvest to further diversify and increase their income. There were approximately 44,000 research and development participants during the calendar year 2024.

Expenses: $4.2MGrants: $3.1M

Farmer product & service delivery: myagro has built a scalable and replicable model that served low-income, rural customers at the last mile. Myagro recruits and trains women entrepreneurs from within villages, who then market and sell climate-smart agricultural packages to local farmers using our custom mobile application. Farmers are then able to make small layaway payments over time to purchase packages of seeds and fertilizer, tree seedlings, and poultry which are delivered within 10 km. By combining offline customer service with mobile technology, myagro overcomes two key barriers to building sustainable financial tools for farmers: customer trust and client density. Myagro operates in mali, senegal, and cte d'ivoire, where the majority of the population works in agriculture. Only 20% of households in africa have formal bank accounts (world bank), and 87% of farmers surveyed in 2023 had no prior access to a similar service like myagro's. Our target audience is smallholder farmers living on less than $2 per day, and 70% of our customers are women. Myagro served approximately 360,000 farmers during the calendar year 2024.

Expenses: $1.4MGrants: $1.0M

Financials

FY 2024

Revenue

Contributions & grants$5.5M
Program service revenue
Investment income$546K
Other revenue$1K
Total revenue$6.0M

Expenses

Grants paid$19.4M
Salaries & benefits$5.5M
Fundraising$567K
Other expenses$3.5M
Total expenses$28.4M
Total assets$36.7M
Net assets$32.7M

People

20 listed

NameRoleCompensation

ANUSHKA RATNAYAKE

ceo & FOUNDER (see schedule o)

Board

$289K

40 hrs/wk

SIDDHANTA WIESNER

CHIEF TECHNOLOGY OFFICER

Board

$213K

40 hrs/wk

SHON MORRIS

CHIEF TALENT OFFICER

Board

$178K

40 hrs/wk

CASEY CLINE

INTERIM CEO (see sch. o) & MANAGING DIR., US

Board

$133K

40 hrs/wk

ERIN MOORE

CHIEF OF STAFF (THRU 6/20/24)

Board

$98K

40 hrs/wk

ROMAN Hingorani

CHIEF FINANCIAL OFFICER (THRU 1/12/24)

Board

$24K

40 hrs/wk

RAJI KALRA

CONTRACTED CFO (SEE SCHEDULE O)

Board

40 hrs/wk

OUSSEYNOU NAKOULIMA

DIRECTOR

Board

2 hrs/wk

MAMADOU BITEYE

DIRECTOR

Board

2 hrs/wk

FARRAH BARRIOS

DIRECTOR

Board

2 hrs/wk

EVAN MARWELL

DIRECTOR

Board

2 hrs/wk

RAMATOULAYE DIALLO

DIRECTOR

Board

2 hrs/wk

DIDO HARDING

CHAIRMAN

Board

2 hrs/wk

RANDI HEDIN

DIRECTOR

Board

2 hrs/wk

RICH LEIMSIDER

DIRECTOR

Board

2 hrs/wk

PATRICK TOGNISSO

CHIEF OPERATING OFFICER

Board

0

DOUGLAS BRADBURY

DIRECTOR OF SOFTWARE ENGINEERING

Staff

$187K

40 hrs/wk

LI-HSUAN LUNG

ENGINEERING LEAD

Staff

$163K

40 hrs/wk

STEPHANIE KABORE

DIRECTOR OF FINANCE (THRU 11/7/24)

Staff

$136K

40 hrs/wk

GRANT ADAMS

SOFTWARE ENGINEER

Staff

$128K

40 hrs/wk

Independent contractors

PROCFO PARTNERS LLC

FRACTIONAL CFO SERVICES

$373K

IDINSIGHT INC

M&E CONSULTING

$197K

BDO USA

AUDIT & TAX

$190K

EGON ZEHNDER SAS

EXECUTIVE SEARCH & RECRUITMENT

$128K

Grants received

Showing 70 of 70

FromAmountPurposeYear
$600K
TO MOVE SMALLHOLDER FARMERS OUT OF POVERTY.
2024
$125K
MOVE SMALL HOLDER FARMERS
2024
$3.0M
For grant recipient's exempt purposes
2023
$600K
TO MOVE SMALLHOLDER FARMERS OUT OF POVERTY.
2023
$500K
GENERAL SUPPORT TO MYAGRO'S TECH-ENABLED SAVINGS MODEL THAT EMPOWERS SMALLHOLDER FARM FAMILIES TO GROW THEIR WAY OUT OF HUNGER AND POVERTY.
2023
$450K
MOVE SMALL HOLDER FARMERS
2023
$250K
General Support
2023
$200K
GENERAL OPERATING
2023
$200K
AG FINANCE: SENEGAL, MALI
2023
$150K
General Operating Support
2023
$50K
ENVIRONMENTAL AND ANIMALS
2023
$10K
Food Security
2023
$3.0M
For grant recipient's exempt purposes
2022
$600K
TO MOVE SMALLHOLDER FARMERS OUT OF POVERTY.
2022
$500K
GENERAL SUPPORT TO MYAGRO'S TECH-ENABLED SAVINGS MODEL THAT EMPOWERS SMALLHOLDER FARM FAMILIES TO GROW THEIR WAY OUT OF HUNGER AND POVERTY.
2022
$250K
MOVE SMALL HOLDER FARMERS
2022
$200K
AG FINANCE: SENEGAL, MALI
2022
$200K
GENERAL OPERATING
2022
$80K
HUMAN SERVICES
2022
$21K
FOR RECIPIENT'S EXEMPT PURPOSE
2022
$3.1M
For grant recipient's exempt purposes
2021
$3.1M
For grant recipient's exempt purposes
2021
$400K
AG FINANCE: SENEGAL, MALI.
2021
$300K
GENERAL SUPPORT
2021
$150K
MOVE SMALL HOLDER FARMERS
2021
$30K
HUMAN SERVICES
2021
$18K
For recipient's exempt purpose
2021
$15K
GENERAL CHARITABLE PURPOSE
2021
$10K
ENVIRONMENTAL AND ANIMALS
2021
$300K
EXEMPT PURPOSE OF ORGANIZATION
2020
$200K
HUMAN SERVICES
2020
$200K
GENERAL SUPPORT
2020
$150K
MOVE SMALL HOLDER FARMERS
2020
$143K
HUMAN SERVICES
2020
$100K
GENERAL OPERATING SUPPORT
2020
$50K
CHARITABLE PURPOSE OF ORGANIZATION
2020
$50K
GENERAL OPERATING SUPPORT
2020
$50K
GENERAL OPERATING SUPPORT
2020
$41K
ENVIRONMENTAL AND ANIMALS
2020
$25K
DONATION TO ORGANIZATION HELPING SMALLHOLDER FARMERS MOVE OUT OF POVERTY
2020
$20K
TO PROVIDE GENERAL SUPPORT.
2020
$15K
GENERAL CHARITABLE PURPOSE
2020
$14K
FOR RECIPIENT'S EXEMPT PURPOSE
2020
$12K
GENERAL
2020
$10K
For grant recipient's exempt purposes
2020
$10K
EMERGENCY COMPUTER HARDWARE PURCHASES
2020
$6K
COMMUNITY & HUMAN SERVICES
2020
$5K
EQUALITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
2020
$250
For general support as part of the matching gift or directed giving program
2020
$121K
HUMAN SERVICES
2019
$66K
ENVIRONMENTAL AND ANIMALS
2019
$25K
For grant recipient's exempt purposes
2019
$25K
Operating Support/Annual Fund
2019
$5K
COMMUNITY & HUMAN SERVICES
2019
$20K
FOR GENERAL SUPPORT.
2018
$20K
GENERAL OPERATING SUPPORT
2017
$10K
FOR GENERAL SUPPORT
2017

Funded by

$25.3M from 31 funders · 70 grants · 2017–2024

Fidelity Investments Charitable Gift Fund

$12.2M · 6 grants · 2019–2023

Silicon Valley Community Foundation

$3.0M · 4 grants · 2020–2024

The Ray And Tye Noorda Foundation

$2.3M · 4 grants · 2020–2023

Seadream Family Foundation Inc

$1.8M · 3 grants · 2022–2024

The Ezrah Charitable Trust

$1.3M · 3 grants · 2021–2023

Hampshire Foundation Inc

$1.1M · 5 grants · 2020–2024

Kasperick Foundation

$800K · 3 grants · 2021–2023

Sall Family Foundation

$400K · 2 grants · 2022–2023

Details

EIN455267449
Subsection03
Ruling date2013-02
Formed2012
Employees31
Volunteers8
MYAGRO FARMS — Mission, Financials & Grants Received | Grantivo