2022-11-15T14:30:37-06:00 2021-12-31 BDO USA LLP 100 PARK AVENUE NEW YORK NY 100175001 990 2021-07-01 455267449 MYAGRO FARMS % NEIL GOLDENBERG MYAG 5033136371 130 7th Avenue 160 NEW YORK NY 10011 ANUSHKA RATNAYAKE ceo 5033136371 2022-11-15 true ANUSHKA RATNAYAKE 999009999 Paul Hammerschmidt P01384178 2128858000 2 2021 2022-09-23 18:48:47Z ANUSHKA RATNAYAKE 130 7th Avenue 160 NEW YORK NY 10011 79352581 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 26 5 0 0 12815110 79352378 0 0 1030 203 0 0 12816140 79352581 0 0 0 0 2640607 1598524 0 0 85450 866248 754242 3506855 2352766 9309285 76999815 37466231 113821960 4351106 3591700 33115125 110230260 X 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. false false 1038107 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). 813245 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. 1851352 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 15 0 true 26 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 130 7TH AVENUE 160 NEW YORK NY 10011 X ANUSHKA RATNAYAKE CEO & FOUNDER 40.0 0.0 X X 210455 0 0 Siddhanta Wiesner Chief Technology Officer 40.0 0.0 X 157250 0 0 Shon Morris VP of People Operations 40.0 0.0 X 146565 0 0 NEIL GOLDENBERG CFO (SEE SCHEDULE O) 24.0 0.0 X 99553 0 0 Ann Cartlidge from 821 Chief Financial Officer 40.0 0.0 X 31787 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 645610 0 0 3 false true false BDO USA LLP 100 PARK AVENUE NEW YORK NY 10017 AUDIT & TAX 161588 Whitten Roy Partnership 4703 Westover Terrace KNOXVILLE TN 37914 SALES CONSULTING 108886 2 3296690 76055688 25051825 79352378 0 203 203 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 79352581 203 X 0 0 0 0 186791 162093 24698 0 1094392 902757 137552 54083 0 251499 212855 28983 9661 65842 55725 7588 2529 0 3804 3804 148761 148761 0 0 0 313670 311662 2008 2523 2472 51 21510 19593 1917 119544 53293 54408 11843 0 0 73337 61222 4781 7334 0 0 58627 58627 0 0 11762 10349 1413 TAXES AND FEES 704 704 2352766 1851352 415964 85450 4250785 43435484 0 0 0 0 3047963 27866951 0 0 0 0 0 0 0 0 51208 78289 0 0 0 0 0 0 0 0 0 0 30116275 42441236 37466231 113821960 142106 166700 0 0 0 0 0 0 0 0 0 0 0 0 4209000 3425000 0 0 4351106 3591700 X 32308322 108587121 806803 1643139 33115125 110230260 37466231 113821960 X 76999815 115320 X false true X true false X 7924742 11048326 10739280 12815110 79352378 121879836 0 0 0 0 7924742 11048326 10739280 12815110 79352378 121879836 0 0 0 121879836 160 2756 6473 1028 203 10620 0 160 2756 6473 1028 203 10620 0 0 300000 0 0 0 300000 7924902 11351082 10745753 12816138 79352581 122190456 0.99746 0.99351 0.00009 0.00022 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED DUE FROM AFFILIATES 42364344 SECURITY DEPOSITS 76892 42441236 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 myAgro'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 6 600 Program Services see part v 7263502 6 600 6 600 7263502 7263502 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 200189 0 0 0 10266 0 0 0 0 0 210455 0 0 0 Siddhanta Wiesner Chief Technology Officer 157250 0 0 0 0 0 0 0 0 0 157250 0 0 0 PART II, COLUMN (B)(III): SCHEDULE J, PART II, COLUMN (B)(III) INCLUDES RENT STIPEND TAXABLE TO EMPLOYEE. X 1 25051825 MARKET QUOTATION 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 NATIONAL 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, LINE 4: COMPENSATION REPORTED ON PART VII FOR NEIL GOLDENBERG IS FOR HIS POSITION AS CFO THROUGH JULY 2021 AND GLOBAL CONTROLLER EFFECTIVE AUGUST 2021. FORM 990, PART VII, SECTION A, LINES 1 THROUGH 5: COMPENSATION AND BENEFITS REPORTED ARE FOR THE CALENDAR YEAR ENDING DECEMBER 31, 2021 IN ACCORDANCE WITH IRS FORM 990 INSTRUCTIONS. COMPENSATION AND BENEFITS REPORTED ON PART IX, LINES 5, 7 AND 9 ARE FOR THE SIX MONTHS TAX YEAR ENDING DECEMBER 31, 2021 TO EFFECTUATE A CHANGE IN THE OPRGANIZATION'S ACCOUNTING PERIOD FROM JUNE 30TH TO DECEMBER 31ST AS REPORTED ON THE TOP OF FORM 990, PAGE 1. Form 990, Part XI, LINE 9: Foreign currency translation gain.........$115,320. FORM 990 PART IX LINE 11G DESCRIPTION:OTHER PROFESSIONAL FEES TOTAL FEES:313670 MYAGRO FARMS SENEGAL RUE GSH-50 THIES SG AGRICULTURE SG C false MYAGRO FARMS MALI RUE 17 PORTE 71 BAMAKO ML AGRICULTURE ML C false MYAGRO FARMS TANZANIA PO BOX 14 NEWALA ROAD MASASI TZ AGRICULTURE TZ C false false false false true false false false false false false false true false false false false false true false MYAGRO FARMS MALI R 5661180 COST MYAGRO FARMS SENEGAL R 6284483 COST MYAGRO FARMS TANZANIA R 345298 COST