| Name | Title | Compensation | |
|---|---|---|---|
| 1 | Joseph Huston | Managing Director | $487,924 |
| 2 | Katie Donley | Chief Growth Officer | $328,377 |
| 3 | Olu Babalola | COO | $200,152 |
|
1 Name: Joseph Huston Title: Managing Director Compensation: $487,924 |
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2 Name: Katie Donley Title: Chief Growth Officer Compensation: $328,377 |
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3 Name: Olu Babalola Title: COO Compensation: $200,152 |
According to the GiveDirectly audit of December 31, 2021 (Note 8, Commitments and Risks, Concentration of Risk): "For the year ended December 31, 2021, GiveDirectly received contributions of approximately $50,000,000 from one donor, which represents 20% of the total revenue and support recognized. For the year ended December 31, 2020, GiveDirectly received contributions of approximately $75,000,000 from one donor, which represents 24% of the total revenue and support recognized." |
According to the GiveDirectly audit of December 31, 2021 (Note 8, Commitments and Risks, Concentration of Credit Risk): "GiveDirectly's cash and cash equivalents are composed of amounts in accounts at various financial institutions. While the amount, at times, exceeds the amount guaranteed by the Federal Deposit Insurance Corporation (FDIC) and, therefore, bears some risk, GiveDirectly has not experienced, nor does it anticipate, any loss of funds. As of December 31, 2021 and 2020, the amount in excess of the FDIC insured limit was approximately $147,750,000 and $92,500,000, respectively. As of December 31, 2021 and 2020, GiveDirectly maintained approximately $22,589,000 and $22,400,000, in accounts at non-U.S. financial institutions." |
According to the GiveDirectly audit of December 31, 2021 (Note 11, Related Party Transactions): "Segovia Technology Co. (Segovia) was formed by two common Board members and co-founders of GiveDirectly. Segovia builds software to manage the logistics of payments distribution in the developing world, so that governments, non-profits and others can more effectively implement cash transfers and other social protection programs. "Effective March 16, 2015, GiveDirectly purchased 921,500 shares of Segovia common stock at $0.0001 par value per share, leading to an aggregate purchase price of $92.15. GiveDirectly acquired the shares for a nominal cash contribution, as is standard practice for the distribution of initial shares of a new company. GiveDirectly transferred voting rights in these shares back to two proxyholders who are founders of Segovia, as part of an arrangement in which those founders donated economic interest in those shares to GiveDirectly but retained voting rights. "On March 16, 2019, Segovia and Crown Agents Bank (CAB) agreed to merge, forming CTHL [CAB Tech HoldCo Limited] and spinning out of a part of Segovia as a separate company, TTS [Tap-Tap-Send]. As part of the merger and spin off, GiveDirectly's shares in Segovia were exchanged for 202,681 shares in CTHL and 921,500 shares in TTS. Independent valuations were performed on each of these entities. For the years ended December 31, 2021 and 2020, the CTHL/TTS investment was valued at $2,563,980 and $387,030, respectively. "As part of the merger, Segovia became a subsidiary company of CTHL and continues to provide payment gateway and technology platform services to businesses. In 2021, GiveDirectly stopped using the technology platform services provided by Segovia. Segovia charges GiveDirectly a fixed percentage of grant transfers for software services. For the years ended December 31, 2021 and 2020, Segovia software expenses totaled $0 and $54,501, respectively and have been reflected in program services on the [audited] statements of activities. Segovia also charges GiveDirectly a sending fee for each transfer distributed to each recipient through their payment gateway. For the years ended December 31, 2021 and 2020, Segovia sending fees totaled $533,029 and $276,667, respectively and have been reflected in program services on the statement of activities. "During 2021 and 2020, Segovia also shared one employee with GiveDirectly, who provided administrative support. For the years ended December 31, 2021 and 2020, a salary allocation for this employee of $36,756 was billed to Segovia by GiveDirectly... "In 2017, GiveDirectly began using Segovia's payment gateway for delivery of cash transfers to the recipients in East Africa. For the years ended December 31, 2021 and 2020, the amount of funds that GiveDirectly held with Segovia that had not yet been disbursed by Segovia to the recipients totaled $3,636,962 and $2,398,155, respectively... "Effective October 28, 2015, an entity was established in the United Kingdom (GiveDirectly UK) for the purpose of fundraising in the United Kingdom for the prevention or relief of poverty anywhere in the world. GiveDirectly does not control or direct any of the activities of GiveDirectly UK. However, the Chairman for 2020 and the first seven months of 2021 and co-founder of GiveDirectly is one of several members of the Board of Directors of GiveDirectly UK. During 2021 and 2020, GiveDirectly received $3,711,527 and $2,770,916, respectively from GiveDirectly UK. "On December 21, 2016, GiveDirectly was registered under the Companies Act 2006 as having established a UK establishment in the United Kingdom. This is a branch of GiveDirectly and a separate entity from GiveDirectly UK, and consists of five UK employees involved primarily in fundraising and programmatic operational work. The assets, liabilities, revenue, and expenses associated with the UK entity are included in these [audited] financial statements." |
According to the GiveDirectly 2021 tax filing, GiveDirectly reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III): Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, line 7): "For the year ended December 31, 2021, individuals listed on Part VII [Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors] received a non-fixed payments [sic] which were based on [a] pre-established index according to the individuals' levels and meeting organization's mission which is based on enrolling recipients in the cash transfer programs."
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