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My Agro Farms

My Agro Farms

New York, NY 10011
Tax ID45-5267449

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About this organization

Revenue

$11,351,082

Expenses

$3,076,319

Website

myagro.org

Mission

Our mission is to help small-scale farmers in West Africa move out of poverty by earning sustainable livelihoods from their farms. We believe the solution lies in giving families the ability to invest their own resources in appropriate fertilizer, seed and modern agricultural techniques so they can enjoy increased harvests and income every year. myAgro provides increased financial access to family farms by giving local farmers the ability to pay for the tools and supplies they need on savings layaway, via a mobile money service that is accessible from even the most hard-to-reach villages. This innovation adapts an old concept – layaway plans – to a new context – rural farmers living on less than $2 a day – and it uses a familiar technology – the mobile phone – that is easy, convenient and trusted. We also provide our farmers with agricultural experts to accompany them during planting so they can gain the most benefit possible from their investment, and with direct market access to purchasers so they can get the most income from their harvests. Our model is an extremely efficient way of addressing rural poverty and food insecurity. Our vision is to move a million small-scale farmers beyond subsistence farming and out of poverty by 2025 by scaling our programs in West Africa and by creating a model that other distribution networks around the world can integrate into their own program offerings.

About

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 BY 2023. 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 65% OF MYAGROS CUSTOMERS ARE WOMEN. LESS THAN 11% HAVE ACCESS TO A FORMAL BANK ACCOUNT, AND 12% HAVE ACCESS TO MOBILE MONEY (WORLD BANK).

Interesting data from their 2020 990 filing

The non-profit's aim, as stated in the filing, is “By using a mobile network layaway system to purchase agricultural inputs & provide technical training to help increase their harvests.”.

When referring to its actions, they were outlined as: “By using a mobile network layaway system to purchase agricultural inputs & provide technical training to help ncrease their harvests.”.

  • The non-profit has complied with legal obligations by reporting their state of operation as CA.
  • The non-profit's address in 2020 is noted in the filing as 200 Broadway FL 3, NEW YORK, NY, 10038.
  • The non-profit's form for 2020 reports a total of 26 employees.
  • Does not operate a hospital.
  • Does not operate a school.
  • Does not collect art.
  • Does not provide credit counseling.
  • Does not have foreign activities.
  • Is not a donor advised fund.
  • Is not a private foundation.
  • Expenses are greater than $1,000,000.
  • Revenue is greater than $1,000,000.
  • Revenue less expenses is $8,274,763.
  • The salary policy for the CEO of the organization is established through a review and approval by an impartial party.
  • The organization has a written policy that describes how long it will retain documents.
  • The organization has 5 independent voting members.
  • The organization was formed in 2012.
  • The organization has a written policy that addresses conflicts of interest.
  • The organization is required to file Schedule B.
  • The organization is required to file Schedule J.
  • The organization is required to file Schedule O.
  • The organization pays $2,153,627 in salary, compensation, and benefits to its employees.
  • The organization pays $215,023 in fundraising expenses.
  • The organization provides Form 990 to its governing body.
  • The organization has minutes of its meetings.
  • The organization has a written whistleblower policy.
  • The organization's financial statements were reviewed by an accountant.

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