on a number of factors.
Ratings & Metrics
|Entity||Document Type||Tax ID|
|The Global Hunger Project||IRS Form 990||94-2443282|
|The Global Hunger Project & Affiliates||Audited Consolidated Financial Statements||multiple|
Entity: The Global Hunger Project
Document Type: IRS Form 990
Tax ID: 94-2443282
Entity: The Global Hunger Project & Affiliates
Document Type: Audited Consolidated Financial Statements
Tax ID: multiple
Governance & Transparency
|2||Jenna Recuber||Global VP||$179,117|
|3||Philippe Rosen||Senior Director, Global Operations||$175,178|
Name: David Webber
Name: Jenna Recuber
Title: Global VP
Name: Philippe Rosen
Title: Senior Director, Global Operations
CharityWatch's rating of The Hunger Project (THP) includes the financial activities of the affiliated "Program Country" entities in Africa, South Asia and Latin America consolidated in THP's audited financial statements for the year ended December 31, 2020. Consolidation of the Program Country entities "is required since the entities are related through shared economic interest, board members, and management," according to Note 2 of the THP 2020 audit. All significant intercompany transactions and balances between THP and its Program Country entities have been eliminated in the audit consolidation.
According to The Global Hunger Project (THP) consolidated audit of December 31, 2020 (Note 15, Loan Payable, Small Business Administration – Paycheck Protection Program Loan):
"In May 2020, THP applied and received approval for loans under the Paycheck Protection Program (PPP), administered by the United States Small Business Administration. As mentioned in Note 16 [cited separately, below], the PPP was legislated as part of the CARES Act and is a program designed to provide a direct incentive for small businesses to keep their workers on the payroll. The loan may be partially or fully forgiven if businesses keep employee head counts and wages stable. As of December 31, 2020, THP had a PPP loan balance of $660,967. ... The loan was fully forgiven in May 2021."
According to The Global Hunger Project (THP) consolidated audit of December 31, 2020 (Note 16, Risks and Uncertainties, COVID-19 and CARES Act):
"On January 30, 2020, the World Health Organization (WHO) announced a global health emergency because of a new strain of coronavirus (the COVID-19 outbreak) and the risks to the international community as the virus spread globally. In March 2020, the WHO classified the COVID-19 outbreak as a pandemic...
"THP's operations are dependent on donations and pledges from corporations and individuals. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report [August 31, 2021]. As such, it is uncertain as to the full magnitude of the impact that the pandemic will have on THP's financial condition, liquidity, and future results of operations. Management is actively monitoring the impact of the global situation on its financial condition, liquidity, operations, suppliers, industry, and workforce.
"On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act). The CARES Act, appropriated funds for the Small Business Administration PPP loans that are forgivable in certain situations to promote continued employment, as well as Economic Injury Disaster Loans to provide liquidity to small businesses harmed by COVID-19. THP received loans in the amounts of $660,967 in May 2020 and $93,784 in May 2021 from the PPP and has complied with the stipulations for the loans so as to obtain forgiveness. The total amount of $754,751 from the loans has been forgiven in May 2021. Management continues to examine the impact that the CARES Act may have on THP. Currently, management is unable to determine the impact that the CARES Act may have on THP's financial condition, results of operation, or liquidity."
According to The Global Hunger Project (THP) consolidated audit of December 31, 2020 (Note 16, Risks and Uncertainties, Third-Party Vendor Ransomware Attack):
"On July 28, 2020, THP was notified by the third-party vendor that manages its donor information, that a ransomware attack occurred in May 2020 on the third-party vendor's back-up system in which certain data was exfiltrated. The third-party vendor advised THP that the vendor took prompt action to address the incident. As of the date of this report [August 31, 2021], the incident has not adversely impacted THP; however, there can be no assurance that the incident will not have an adverse impact on THP in the future."
According to The Global Hunger Project (THP) consolidated audit of December 31, 2020 (Note 17, Discontinued Microfinance Programs):
"The objective of THP's Microfinance Program is to gain government recognition and operate as a licensed saving and credit cooperative (SACCO) or Rural Bank owned entirely by community members, thereby providing the entire epicenter community with sustainable access to savings and loan facilities. On completion of this process, THP waives its right to repayment of amounts previously funded to the microfinance project. During 2020, the microfinance programs in Burkina Faso and Ghana achieved this milestone, and the corresponding assets listed under Microfinance Programs were reduced by $1,860,164. For the year ended December 31, 2020, the completed programs had net assets without donor restrictions totaling $1,156,653 related to costs associated with transferring ownership to the communities."
According to The Global Hunger Project (THP) consolidated audit of December 31, 2020 (Note 12, Commitment – Retirement Contract):
"THP has a postretirement contract with the founding president. Under the terms of this agreement, the founding president will receive $100,000 per year in exchange for part-time services rendered. Payments shall continue until the earlier of death or failure to comply with the conditions of the agreement, specifically to not provide services as an employee, officer, or director, nor to participate in any fundraising activities for an entity with goals, objectives, and methods similar to THP."
"THP has a life insurance policy on the founding president. THP pays the premiums and is the sole beneficiary on the policy. Total cash surrender value of the policy at December 31, 2020 and 2019 was $1,540,043 and $1,482,309, respectively."