CharityWatch REPORT
Issued December 2016

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

Any time an Analysts' Note refers to a charity's Audited Financial Statements or IRS tax form, CharityWatch encourages interested donors to obtain a copy of the referenced documents so that they may view the information in context. Please contact the charity directly to request a copy of any referenced document. Charity tax forms and audits may also be obtained from a number of online databases. For a list of sources, please visit our LINKS page.

CharityWatch's rating of TechnoServe is based on our analysis of its consolidated audited financial statements and its U.S. tax filing for the fiscal year-ended 12/31/2015. Our rating includes the consolidated financial activities of the U.S. based TechnoServe headquarters, all TechnoServe field offices, and CEDI (Community Enterprise Development and Investment Trust Fund, locally registered in Ghana).
According to the TechnoServe audited Consolidated Statement of Activities for the year ended December 31, 2015, TechnoServe received contributed services and in-kind donations valued at $2,107,883 in 2015.

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found by clicking on "About CharityWatch" from the navigation bar and then clicking on "Criteria & Methodology".]
According to the TechnoServe consolidated audit of December 31, 2015 (Note 9, Conditional Contributions):

"As of December 31, 2015, TechnoServe has $100,172,330 of cash to be collected on conditional pledges. This amount is not recognized in the...consolidated financial statements as such contributions are payable over a four-year period conditional upon the successful management of TechnoServe based on a number of milestones and the future discretion of the donor."

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