2023-11-06T13:40:20-06:00 2022-12-31 BDO USA 100 PARK AVENUE NEW YORK NY 100175001 990 2022-01-01 455267449 MYAGRO FARMS % NEIL GOLDENBERG MYAG 5033136371 131 7th Avenue 160 NEW YORK NY 10011 ROMAN HINGORANI CFO 5033136371 2023-11-03 true ROMAN HINGORANI 999009999 Paul Hammerschmidt P01384178 2128858000 3 2022 2023-04-26 12:10:37Z X ANUSHKA RATNAYAKE 131 7th Avenue 160 NEW YORK NY 10011 19430121 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) 6 5 31 5 0 0 79352378 18051249 0 0 203 445061 0 933811 79352581 19430121 0 0 0 0 1598524 5548376 0 0 400579 754242 3169325 2352766 8717701 76999815 10712420 113821960 122019426 3591700 1096841 110230260 120922585 X To move smallholder farmers in Western Africa out of poverty. To increase the incomes of 1 million smallholder farmers by $1.50 a day by 2026. Driven by our unique mobile layaway platform, delivery of high-quality inputs directly to the farmers right in time for planting season, and agricultural trainings of harvest-improving agricultural techniques. false false 4189908 0 0 FIELD & FARMERS PROGRAMS - MYAGRO HAS BUILT A SCALABLE, REPLICABLE MODEL THAT COVERS NEARLY 40% OF ITS FIELD COSTS AND IS ON TRACK TO COVER 100% OF FIELD COSTS. A KEY TO THIS CHANGE IS THE R&D MYAGRO DID TO EQUIP LOCAL ENTREPRENEURS WITH A SMARTPHONE TO MARKET AGRICULTURAL PACKAGES AND SERVE AS THE PAY POINT FOR FARMERS WHO WANT TO ENROLL AND PAY ON LAYAWAY FOR SEEDS AND FERTILIZER PACKAGES. BESIDES, MYAGRO LEVERAGES SAVING GROUPS (THERE ARE 18 MILLION GLOBALLY) AS A DISTRIBUTION CHANNEL TO REACH FARMERS IN RURAL, REMOTE VILLAGES. THESE TWO COMPONENTS HELP MYAGRO BRIDGE WHAT IS COMMONLY THE HARDEST TO OVERCOME FOR BUILDING SUSTAINABLE FINANCIAL TOOLS FOR FARMERS: CUSTOMER TRUST AND CLIENT DENSITY. MYAGRO WORKS IN MALI, SENEGAL, AND TANZANIA, WHERE ~75% OF THE POPULATION WORKS IN AGRICULTURE. OUR TARGET AUDIENCE IS SMALLHOLDER FARMERS LIVING ON < $2/DAY, AND 60% OF MYAGRO'S CUSTOMERS ARE WOMEN. LESS THAN 11% HAVE ACCESS TO A FORMAL BANK ACCOUNT, AND 12% HAVE ACCESS TO MOBILE MONEY (WORLD BANK). THERE WERE APPROXIMATELY 115,000 ENROLLED FARMERS DURING CALENDAR YEAR 2022. 2147357 0 0 MOBILE TECHNOLOGY DEVELOPMENT - AT THE OUTSET OF EACH AGRICULTURAL SEASON, PARTICIPATING FARMERS SIGN UP TO PURCHASE A PACKAGE OF SEEDS, FERTILIZER, TOOLS, AND TRAINING. PRICES AND CONTENTS OF THE PACKAGE ARE TAILORED TO THE LAND AREA AND CROP MIX THAT EACH FARMER INTENDS TO PLANT. OVER THE YEAR, FARMERS USE MOBILE LAYAWAY TO PAY FOR EACH PACKAGE LITTLE BY LITTLE. TO MAKE PAYMENTS, FARMERS BUY PREPAID SCRATCH CARDS AT A PAY POINT IN THEIR VILLAGE - SIMILAR TO PURCHASING PREPAID MOBILE MINUTES - OR CHOOSE TO PAY DIRECTLY THROUGH MOBILE MONEY. EACH PAYMENT ACCUMULATES IN A FARMER'S MYAGRO ACCOUNT UNTIL THE FULL COST OF THE PACKAGE THEY HAVE SIGNED UP FOR IS COVERED. THE MOBILE LAYAWAY SYSTEM IS A REAL-TIME, TRANSPARENT, AND RELIABLE WAY FOR FARMERS TO INVEST IN THEIR FARM. THERE WERE APPROXIMATELY 3,500 USERS ON MYAGROS'S MOBILE TECHNOLOGY DURING CALENDAR YEAR 2022. 263963 0 0 AGRICULTURAL RESEARCH AND HARVEST EVALUATION PROGRAMS - MYAGRO FOCUSES ON DATA-DRIVEN SELF-REFLECTION AND ORGANIZATIONAL IMPROVEMENT TO DELIVER AS MUCH VALUE TO FARMERS AS POSSIBLE AND TO BETTER UNDERSTAND THE BROADER IMPACTS THAT ITS PROGRAMS ARE HAVING ON RURAL COMMUNITIES. THE TWO MOST IMPORTANT INDICATORS THAT MYAGRO MEASURES ARE "INCREASE IN HARVEST YIELD"INCREMENTAL NET INCOME EARNED." THE PROGRAM HAS RESULTED IN 50 - 100% INCREASES IN YIELDS, AND AN AVERAGE ANNUAL INCREASE IN FARMER INCOMES OF $178/FARMER ($0.40 PER DAY). FOR HOUSEHOLDS LIVING ON LESS THAN $2 PER DAY, THESE RESULTS HAVE TRANSFORMATIVE EFFECTS, ALLOWING THEM TO PROVIDE MORE FOOD FOR THEIR FAMILIES, COVER SCHOOL AND MEDICAL FEES, AND BETTER PLAN FOR THEIR FUTURE. THERE WERE APPROXIMATELY 30,000 PARTICIPANTS IN RESEARCH DURING CALENDAR YEAR 2022. 6601228 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 19 0 true 31 true false false false false false false false false false false false false X 6 5 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 NEIL GOLDENBERG 5033136371 131 7TH AVENUE 160 NEW YORK NY 10011 X Siddhanta Wiesner Chief Technology Officer 40.0 0.0 X 209958 0 0 ANUSHKA RATNAYAKE CEO & FOUNDER 40.0 0.0 X X 209945 0 0 Shon Morris VP of People Operations 40.0 0.0 X 168708 0 0 KIRA EBERT thru 1222 DIR. OF DEVELOPMENT 40.0 0.0 X 166340 0 0 RYAN DENHOLM eff 322 VP FINANCE & STRATEGY 40.0 0.0 X 158333 0 0 ROMAN HINGORANI EFF 522 CHIEF FINANCIAL OFFICER 40.0 0.0 X 155448 0 0 NEIL GOLDENBERG GLOBAL CONTROLLER 40.0 0.0 X 149038 0 0 STEPHANIE KABORE DIR. OF FINANCE 40.0 0.0 X 137011 0 0 ERIN MOORE SEE SCH O CHIEF OF STAFF (eff. 2/22) 40.0 0.0 X 136504 0 0 MIKE DURNEY SEE SCH O INTERIM CFO (THRU 8/22) 40.0 0.0 X 92000 0 0 Evan Marwell 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 DIDO HARDING director 4.0 0.0 X 0 0 0 RICH Leimsider director 4.0 0.0 X 0 0 0 1583285 0 0 11 false true false WELL SPRING CONSULTING 198 AMITY ROAD 2ND FLOOR WOODBRIDGE CT 06525 COMP. CONSULTING 189800 BAKER TILLY USA 1111 NORTH LOOP WEST SUITE 250 HOUSTON TX 77008 FINANCIAL APPL. 138913 BDO USA LLP 100 PARK AVENUE NEW YORK NY 10017 AUDIT & TAX 137819 3 4163462 13887787 1383077 18051249 0 445061 445061 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 RECEIVABLES 900099 933811 933811 933811 19430121 0 1378872 X 0 0 0 0 836059 644368 191691 0 3465229 2447872 728213 289144 82447 61054 19147 2246 970121 718391 225300 26430 194520 144046 45175 5299 0 5725 5725 177317 6678 170639 0 0 0 1638979 1590875 48104 187 187 116884 98140 11580 7164 580636 300405 272307 7924 0 1991 1991 417543 358676 44599 14268 0 0 193052 193052 0 0 24507 17922 6585 TAXES AND FEES 12504 11846 658 8717701 6601228 1715894 400579 X 43435484 28959975 0 0 0 0 27866951 29323064 0 0 0 0 0 0 0 0 78289 206101 0 0 0 0 0 0 0 0 0 0 42441236 63530286 113821960 122019426 166700 346841 0 0 0 0 0 0 0 0 0 0 0 0 3425000 750000 0 0 3591700 1096841 X 109090457 116571158 1139803 4351427 110230260 120922585 113821960 122019426 X 10712420 -4180 -15915 X false true X true false X 11048326 10739280 12815110 79352378 18051249 132006343 0 0 0 0 11048326 10739280 12815110 79352378 18051249 132006343 0 0 0 132006343 2756 6473 1028 203 445061 455521 0 2756 6473 1028 203 445061 455521 0 300000 0 0 0 933811 1233811 11351082 10745753 12816138 79352581 19430121 133695675 0.98736 0.99746 0.00341 0.00009 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED DUE FROM AFFILIATES 63165394 SECURITY DEPOSITS 364892 63530286 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 the Organization's consolidated financial statements. The Organization does not believe they have taken any material uncertain tax positions and, accordingly, they have not recorded any liability for unrecognized tax benefits. The Organization has filed for and received income tax exemptions in the jurisdictions where they are required to do so. Sub-Saharan Africa 6 680 Program Services see part v 26374729 6 680 6 680 26374729 26374729 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 true true X X X X false false false false false false false false false ANUSHKA RATNAYAKE CEO & FOUNDER 182945 0 0 0 27000 0 0 0 0 0 209945 0 0 0 Shon Morris VP of People Operations 168708 0 0 0 0 0 0 0 0 0 168708 0 0 0 Siddhanta Wiesner Chief Technology Officer 209958 0 0 0 0 0 0 0 0 0 209958 0 0 0 ROMAN HINGORANI EFF 522 CHIEF FINANCIAL OFFICER 155448 0 0 0 0 0 0 0 0 0 155448 0 0 0 KIRA EBERT thru 1222 DIR. OF DEVELOPMENT 166340 0 0 0 0 0 0 0 0 0 166340 0 0 0 RYAN DENHOLM eff 322 VP FINANCE & STRATEGY 158333 0 0 0 0 0 0 0 0 0 158333 0 0 0 PART II, COLUMN (B)(III): SCHEDULE J, PART II, COLUMN (B)(III) INCLUDES RENT STIPEND TAXABLE TO EMPLOYEE. X 1 1185648 MARKET QUOTATION X software lic. 1 188151 VEN. list price X BOARD TRAVEL 2 9278 COST TO BD MEM. 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 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 VII, SECTION A, LINES 9 AND 10: Mike Durney was hired under contract with ProCFO Partners as Interim CFO for the periodJanuary 27, 2022through August 24, 2022. Total amount paid to ProCFO Partners was $92,000. Erin Moore was hired under contract with vChief for the period November 15, 2021throughFebruary 16, 2022as Chief of Staff and was then hired as an employee. Total amount paid to vChief during calendar year 2022 was $55,580. The amount reported on Form 990, Part VII, Section A is reportable compensation from myAgro Farms. FORM 990, PART X, LINES 27 AND 28, COLUMN (A): The organization's net assets with donor restrictions and net assets without restrictions at January 31, 2022 have been restated on the 2022 audited financial statements. 2022 Form 990 reports the restated amounts, consistent with the 2022 audited financial statements. There was no change to the total net assets. FORM 990, PART XI, LINE 9: Foreign currency translation loss.........$(15,915). FORM 990 PART IX LINE 11G DESCRIPTION:CONSULT. & PROF. FEES TOTAL FEES:750825 FORM 990 PART IX LINE 11G DESCRIPTION:MISSION FOCUSED TOTAL FEES:414405 FORM 990 PART IX LINE 11G DESCRIPTION:STAFFING TOTAL FEES:326453 FORM 990 PART IX LINE 11G DESCRIPTION:RECRUITING TOTAL FEES:147296 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 7561093 COST MYAGRO FARMS SENEGAL R 12194376 COST MYAGRO FARMS TANZANIA R 1045582 COST