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Top Rated

GiveDirectly

CharityWatch report issued
May 2020

Top-Rated Charity
A+
CharityWatch Grade
Our independent grade based
on a number of factors.
 
96%
Program Percentage
Amount spent on programs
relative to overhead.
 
$4
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

GiveDirectly
PO Box 3221
New York, NY 10008

Other Names

None

Tax Status

501(c)3

Stated Mission

To reduce poverty by providing financial assistance directly to those in need.

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Data based on Fiscal Year Ended 12/31/2018

Program Percentage: 96%

The percentage of GiveDirectly's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$69,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $4

How many dollars GiveDirectly spends on fundraising to raise each $100 of contributions.

$49,000,000

Calculated Total Contributions

(rounded)

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
GiveDirectly IRS Form 990 27-1661997
GiveDirectly Audited Financial Statements 27-1661997
Entity: GiveDirectly
Document Type: IRS Form 990
Tax ID: 27-1661997
Entity: GiveDirectly
Document Type: Audited Financial Statements
Tax ID: 27-1661997

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
GiveDirectly
meets governance benchmarks.
 
GiveDirectly
meets transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy

  Name Title Compensation
1 Piali Mukhopadhyay International COO $221,157
2 Joseph Huston CFO $189,939
3 Eric Friedman Country Director $181,959
1
Name: Piali Mukhopadhyay
Title: International COO
Compensation: $221,157
2
Name: Joseph Huston
Title: CFO
Compensation: $189,939
3
Name: Eric Friedman
Title: Country Director
Compensation: $181,959

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.

According to the GiveDirectly 2018 tax filing, GiveDirectly reports receiving in-kind donated services and use of facilities on which it placed a total value of $312,866 (IRS Form 990, Schedule D, Part XI).

[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 on the Our Process page.]

According to the GiveDirectly audit of December 31, 2018 (Note 16, Concentrations of Risk):

"During the years ended December 31, 2018 and 2017, GiveDirectly received approximately 29% and 30%, respectively, of its total revenue from its two largest donors. The top donors have changed each year indicating revenue sources are consistently obtained to fund the operations of GiveDirectly. All current campaigns and recipients are fully funded prior to enrollment; therefore, there would be no risk to current campaigns."

According to the GiveDirectly audit of December 31, 2018 (Note 19, Related-Party Transactions):

"During the years ended December 31, 2018 and 2017, GiveDirectly's President and the Chairman of the Board did not draw a salary or receive fringe benefits from GiveDirectly for a portion of the years. This has been reflected as contributed services in the accompanying [audited] statements of activities for the years ended December 31, 2018 and 2017, with an estimated fair value of $246,513 and $133,524, respectively. The related salary and fringe benefit expense have been allocated between fundraising and management and general expenses based on the individuals' time tracking...

"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. As part of the stock purchase, GiveDirectly received from Segovia $2,250, as recommended by a third-party valuation, to compensate for the avoided search costs for an employee that would be shared between the two organizations.

"Segovia charges GiveDirectly a fixed percentage of grant transfers for software services. For the years ended December 31, 2018 and 2017, Segovia software expenses totaled $686,189 and $374,550, respectively, and have been reflected in program services on the [audited] statements of activities. In 2018, GiveDirectly changed their approach to accounting for transfer-related fees. Contrary to recognizing Segovia software expenses when transfer commitments are made, as was done before 2018, in 2018, GiveDirectly began recognizing Segovia software expense when the service is provided and transfer has been disbursed to the recipient. The change in methodology was made prospectively due to the overall immateriality to the financial statements...

"During 2018 and 2017, Segovia also shared two employees with GiveDirectly, who provided administrative support. For the years ended December 31, 2018 and 2017, a salary allocation for these employees of $64,855 and $84,238 was billed to Segovia by GiveDirectly...

"In 2017, GiveDirectly began using Segovia mobile money wallets for delivery of cash transfers to the recipients in East Africa. For the years ended December 31, 2018 and 2017, the amount of funds that GiveDirectly held with Segovia that had not yet been disbursed by Segovia to the recipients totaled $181,172 and $195,009, respectively. ... For the years ended December 31, 2018 and 2017, the amount of fees related to transfers not yet paid to Segovia totaled $71,145 and $65,903, respectively...

"GiveDirectly entered into an agreement with Segovia in January 2017, whereby GiveDirectly agreed to pay Segovia $13,198 monthly (and pay $17,425 toward the security deposit), representing its proportionate share of the shared office space. The unpaid portion of the rent as of December 31, 2018 and 2017 was $15,883 and $13,462, 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 and co-founder of GiveDirectly is one of several members of the Board of Directors of GiveDirectly UK. During 2018 and 2017, GiveDirectly received from GiveDirectly UK $1,056,128 and $494,672, respectively...

"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 the [audited] financial statements..."

According to the GiveDirectly audit of December 31, 2018 (Note 20, Subsequent Events):

"In April 2019, GiveDirectly signed a cooperative agreement with USAID for $3.35 million to begin cash transfer operations in Morocco. GiveDirectly is in the process of setting up an office and team of resources for this project. In addition, a donation of $293,786 was received from the United Nations High Commissioner for Refugees (UNHCR) for refugees in Rwanda." 


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