2024-11-14T17:46:07-06:00 2023-12-31 BDO USA 200 PARK AVENUE 38TH FLOOR NEW YORK NY 10166 990 2023-01-01 455267449 MYAGRO FARMS % LUKE FITZGERALD MYAG 5033136371 131 7th Avenue Suite 160 NEW YORK NY 10011 LUKE FITZGERALD GLOBAL CONTROLLER 5033136371 2024-11-14 true true Paul Hammerschmidt P01384178 2128858000 2023 2024-10-15 13:58:12Z ANUSHKA RATNAYAKE 131 7th Avenue 160 NEW YORK NY 10011 22574181 false X www.myagro.org X 2012 CA MYAGRO'S UNIQUE MOBILE LAYAWAY PLATFORM ALLOWS FARMERS TO USE THEIR MOBILE PHONES TO PURCHASE SEEDS AND FERTILIZER IN SMALL INCREMENTS (SEE SCHEDULE O FOR CONTINUATION) 9 8 29 8 0 0 18051249 20574376 0 0 445061 894041 933811 1105764 19430121 22574181 0 0 0 0 5548376 6251023 0 0 1155355 3169325 2769846 8717701 9020869 10712420 13553312 122019426 138938502 1096841 4462117 120922585 134476385 X MyAgro's mission is to move smallholder farmers in Western Africa out of poverty. We aim to increase smallholder farmers income by $1.50 per day by 2026. Through our mobile layaway platform, farmers gain access to high-quality inputs and climate-smart agriculture training which we deliver at the village level, as well as ongoing mobile support. This model is proven to increase farmer yields and income. false false 5072278 0 0 SEE SCHEDULE O 1023729 0 0 SEE SCHEDULE O 870749 0 0 SEE SCHEDULE O 6966756 true true false false false false false false false false false false false true false true false true false true true false false false false false false false false true false false false false false false false false true false false false false true false false false true 2 0 true 29 true false false false false false false false false false false false false X 9 8 false false false false false false false true true false false true true true true true true true false false CA MA NY OR X LUKE FITZGERALD 5033136371 131 7TH AVENUE 160 NEW YORK NY 10011 X ANUSHKA RATNAYAKE CEO & FOUNDER 40.0 0.0 X X 347356 132713 0 ROMAN HINGORANI CHIEF FINANCIAL OFFICER 40.0 0.0 X 253748 0 0 Siddhanta Wiesner Chief Technology Officer 40.0 0.0 X 224859 0 0 RYAN DENHOLM VP FINANCE & STRATEGY 40.0 0.0 X 194750 0 0 Erin Moore as of 323 Chief Development Officer 40.0 0.0 X 183733 0 0 Shon Morris Chief Talent Officer 40.0 0.0 X 175459 0 0 Neil Goldenberg GLOBAL CONTROLLER 40.0 0.0 X 148115 0 0 Stephanie Kabore Director of Finance 40.0 0.0 X 144074 0 0 Patrick Tognissoas of 1123 Chief Operating Officer 40.0 0.0 X 28123 0 0 Dido Harding chairman 4.0 0.0 X X 0 0 0 Farrah Barrios Director 4.0 0.0 X 0 0 0 Mamadou Biteye Director 4.0 0.0 X 0 0 0 Ramatoulaye Diallo director 4.0 0.0 X 0 0 0 Randi Hedin director 4.0 0.0 X 0 0 0 Rich Leimsider director 4.0 0.0 X 0 0 0 Evan Marwell director 4.0 0.0 X 0 0 0 Ousseynou Nakoulima director 4.0 0.0 X 0 0 0 1700217 132713 0 8 false true false VCHIEF 3011 Sunrise Court MIDDLETON WI 53562 comp. consulting 168509 BDO USA 200 PARK AVENUE 38TH FLOOR NEW YORK NY 10166 AUDIT & TAX 134148 EXECUTIVES IN AFRICA LIMITED ALBION HOUSE HIGH ST WOKING SUR LONDON 0 UK GU21 6BG comp. consulting 109227 3 10751373 9823003 339654 20574376 0 894041 894041 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 RECEIVABLES 900099 1100000 1100000 MISCELLANEOUS INCOME 900099 5764 5764 1105764 22574181 1999805 X 0 0 0 0 1213278 1124854 88424 0 3379052 2641820 207675 529557 154826 127054 11755 16017 1292447 1060607 98131 133709 211420 173496 16052 21872 0 1225 1225 184606 53272 131334 0 0 0 1153205 1151975 0 1230 0 144264 106978 31892 5394 870003 187246 244852 437905 0 22190 21778 412 344824 284268 50967 9589 0 0 6062 6062 0 0 38780 27515 11183 82 TAXES AND FEES 4687 4668 19 9020869 6966756 898758 1155355 28959975 24845255 0 0 0 0 29323064 23626572 0 0 0 0 0 0 0 0 206101 287419 0 0 0 0 0 0 0 0 0 0 63530286 90179256 122019426 138938502 346841 512117 0 0 0 0 0 0 0 0 0 0 0 0 750000 3950000 0 0 1096841 4462117 X 116571158 123798860 4351427 10677525 120922585 134476385 122019426 138938502 X 13553312 -200638 201126 X false true X true false X 10739280 12815110 79352378 18051249 20574376 141532393 0 0 0 0 10739280 12815110 79352378 18051249 20574376 141532393 0 0 0 141532393 6473 1028 203 445061 894041 1346806 0 6473 1028 203 445061 894041 1346806 0 0 0 0 933811 1105764 2039575 10745753 12816138 79352581 19430121 22574181 144918774 0.97663 0.98736 0.00929 0.00341 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED DUE FROM AFFILIATES 89729864 SECURITY DEPOSITS 449392 90179256 0 0 X PART X, LINE 2: Under ASC 740, Income Taxes, an organization must recognize the tax benefit associated with tax positions taken for tax return purposes when it is more likely than not that the position will be sustained upon examination by a taxing authority. The implementation of ASC 740 had no impact on myAgro Farms consolidated financial statements. The Organization does not believe they have taken any material uncertain tax positions and, accordingly, it has not recorded any liability for unrecognized tax benefits. The Organization has filed for and received income tax exemptions in the jurisdictions where it is required to do so. Sub-Saharan Africa 6 853 Program Services see part v 40525106 6 853 6 853 40525106 40525106 false false true false false false PART I, LINE 1, COLUMN (E): Myagro provides a scalable, replicable model that allows local smallholder farmers to use their mobile phones to purchase seeds and fertilizer in small increments, leading to increased yields and income. We support R&D, education, training, distribution networks and related activities. X X X X false false false false false false false false false ANUSHKA RATNAYAKE CEO & FOUNDER 266294 0 0 0 81062 132713 0 0 0 0 347356 132713 0 0 Shon Morris Chief Talent Officer 174963 0 0 0 496 0 0 0 0 0 175459 0 0 0 Siddhanta Wiesner Chief Technology Officer 223963 0 0 0 896 0 0 0 0 0 224859 0 0 0 ROMAN HINGORANI CHIEF FINANCIAL OFFICER 253748 0 0 0 0 0 0 0 0 0 253748 0 0 0 RYAN DENHOLM VP FINANCE & STRATEGY 194750 0 0 0 0 0 0 0 0 0 194750 0 0 0 Erin Moore as of 323 Chief Development Officer 174766 0 0 0 8967 0 0 0 0 0 183733 0 0 0 PART II, LINE 1(i), COLUMN (B)(III): SCHEDULE J, PART II, COLUMN (B)(III) INCLUDES A RETROACTIVE SALARY INCREASE OF $15,229 AND $65,833 IN BACK PAY FOR THE PREVIOUS YEAR (2022). THE $132,713 REPRESENTS PERSONAL TAXES PAID ON THE CEO'S BEHALF IN SENEGAL BY A RELATED ORGANIZATION PURSUANT TO A TAX EQUIVALENCY POLICY. X software lic. 4 339654 VEN. list price false true false PART I, COLUMN (B): NUMERICAL DATA REPORTED REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART I, LINE 1 (CONTINUATION): AND PROVIDES AGRICULTURAL TRAINING TO FARMERS WHO INVESTED IN MYAGRO PACKAGES, SHARING HARVEST-IMPROVING AGRICULTURAL TECHNIQUES. FORM 990, PART III, LINES 4A, 4B, AND 4C: 4A) MOBILE TECHNOLOGY DEVELOPMENT: MYAGRO'S DIGITAL LAYAWAY PLATFORM PROVIDES FARMERS WITH A SECURE AND RELIABLE SAVINGS MECHANISM WHICH THEY CAN USE TO PURCHASE HIGH-QUALITY AGRICULTURAL INPUTS AND TRAINING THAT ARE DELIVERED WITHIN 10 KM OF THEIR VILLAGE. PACKAGE OPTIONS ARE DESIGNED EACH YEAR TO INCLUDE A VARIETY OF PLOT SIZES AND CROP TYPES. AFTER FARMERS SELECT THEIR DESIRED PACKAGE, THEY MAKE SMALL PAYMENTS OVER TIME INTO THEIR DIGITAL MYAGRO ACCOUNT. THE PAYMENT PROCESS MIMICS THAT OF ADDING PHONE CREDITS: FARMERS CAN PURCHASE SCRATCH CARDS FROM THEIR VE AND TEXT IN A CODE, OR PAY DIRECTLY VIA MOBILE MONEY - ENABLING THEM TO SAVE VIA THEIR OWN DEVICE, THROUGH THEIR VE, OR VIA THE MYAGRO CALL CENTER. FOR WOMEN ESPECIALLY, THIS DIGITAL ACCOUNT ENABLES THEM TO SAVE PRIVATELY AND SECURELY, WHICH PROTECTS THEIR ASSETS AND ENHANCES FINANCIAL AUTONOMY. THERE WERE APPROXIMATELY 4,000 ENTREPRENEURS LEVERAGING MYAGRO'S MOBILE TECHNOLOGY TO ENROLL AND FACILITATE PAYMENTS FOR FARMERS DURING CALENDAR YEAR 2023. 4B) FARMER PRODUCT & SERVICE DELIVERY: MYAGRO HAS BUILT A SCALABLE AND REPLICABLE MODEL WHICH IS ON TRACK TO COVER 50% OF FIELD COSTS BY 2026. 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 <$2/DAY, AND 65% OF OUR CUSTOMERS ARE WOMEN. MYAGRO SERVED APPROXIMATELY 200,000 FARMERS DURING CALENDAR YEAR 2023. 4C) 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 routine harvest evaluation 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. Over the last five years, the program has resulted in an average 100-150% yield increase and $150-200 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 25,000 participants in research during calendar year 2023. myAgro Farms was incorporated in March 2012 in California and is registered to operate in its program countries, primarily Senegal, Mali, and Ivory Coast. Form 990 reports on a deconsolidated basis and includes myAgro Farms and its branch offices. Other program expenses were incurred and international activities consistent with myAgro Farms were conducted by related foreign organizations reported in Schedule R, Part IV. Consolidated audited financial statements for myAgro Farms and its subsidiaries are available at https://www.myagro.org/financials/. FORM 990, PART VI, SECTION B, LINE 11B: FORM 990 WAS PREPARED BY A NATIONALLY Recognized ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT. DRAFT FORM 990 WAS REVIEWED BY MANAGEMENT AND THEN DISTRIBUTED TO ALL MEMBERS OF THE BOARD WITH THE OPPORTUNITY FOR THEM TO COMMENT OR MAKE INQUIRY BEFORE IT WAS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C: IN CONNECTION WITH ANY ACTUAL/POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON/POTENTIAL INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSE TRANSACTION/ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15A: TO ENSURE THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX EXEMPT STATUS, PERIODIC REVIEW SHALL BE CONDUCTED. ONE PERIODIC REVIEW IS AS FOLLOWS - WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARM'S LENGTH BARGAINING. IT IS ALSO THE RESPONSIBILITY OF THE BOARD TO SET THE COMPENSATION OF THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: Foreign currency translation gain.........$201,126. FORM 990 PART IX LINE 11G DESCRIPTION:CONSULT. & PROF. FEES TOTAL FEES:1153205 MYAGRO FARMS SENEGAL RUE GSH-50 THIES SG AGRICULTURE SG C corp false MYAGRO FARMS MALI RUE 17 PORTE 71 BAMAKO ML AGRICULTURE ML C corp false MYAGRO FARMS TANZANIA PO BOX 14 NEWALA ROAD MASASI TZ AGRICULTURE TZ C corp false false false false true false false false false false false false true false false false false false true false MYAGRO FARMS MALI R 11272604 COST MYAGRO FARMS SENEGAL R 14763058 COST MYAGRO FARMS TANZANIA R 528808 COST