Celebrating 30 years of helping you give wisely
America's most independent,
assertive charity watchdog
Top Rated

Population Services International

CharityWatch rating issued
May 2023

Top-Rated Charity
A+
CharityWatch Rating
Our independent rating based
on a number of factors.
 
90%
Program Percentage
Amount spent on programs
relative to overhead.
 
$1
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Population Services International
1120 19th Street NW
Suite 600
Washington , DC 20036

Other Names

PSI

Tax Status

501(c)3

Website

www.psi.org

Stated Mission

Makes it easier for all people to lead healthier lives and plan the families they desire.

View similar charities
Data based on Fiscal Year Ended 12/31/2021

Program Percentage: 90%

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

$402,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $1

How many dollars Population Services International spends on fundraising to raise each $100 of contributions.

$217,000,000

Calculated Total Contributions

(rounded)

Government Funding

25% to 49%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Population Services International Audited Consolidated Financial Statements multiple
Population Services International IRS Form 990 56-0942853
Entity: Population Services International
Document Type: Audited Consolidated Financial Statements
Tax ID: multiple
Entity: Population Services International
Document Type: IRS Form 990
Tax ID: 56-0942853

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?
 
Population Services International
meets governance benchmarks.
 
Population Services International
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 Karl W. Hofmann President/CEO $454,659
2 Michael Holscher Chief Delivery Officer $428,929
3 Kim Schwartz Senior VP $407,831
1
Name: Karl W. Hofmann
Title: President/CEO
Compensation: $454,659
2
Name: Michael Holscher
Title: Chief Delivery Officer
Compensation: $428,929
3
Name: Kim Schwartz
Title: Senior VP
Compensation: $407,831

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.

CharityWatch's rating of Population Services International (PSI) includes "the accounts of PSI and its network members worldwide...where PSI has control through at least two of the following:  majority voting interest in the Board of Directors, management of the leadership position or a majority source of funding," which are consolidated in the PSI audited financial statements for the year ended December 31, 2021, according to Note 2(b). The worldwide network member entities consolidated in the PSI audited financial statements operated in over 40 countries during 2021, according to Note 2(b). All significant intercompany balances and transactions have been eliminated in the audit consolidation.

According to the Population Services International (PSI) consolidated audit of December 31, 2021 (Note 2(s), In-Kind Contributions), PSI reports receiving "donated commodities, equipment, and services" in 2021 on which it placed a total value of $15,787,837.

[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 Population Services International (PSI) consolidated audit of December 31, 2021 (Note 9, Paycheck Protection Program Loan):

"In May 2020, PSI received funds under the Paycheck Protection Program (PPP) of the CARES [Coronavirus Aid, Relief, and Economic Security] Act amounting to $4,334,145. The receipt of the PPP Loan required PSI to, in good faith, certify that the then current economic uncertainty made the loan request necessary to support the ongoing operations of PSI. The balance was forgiven during the year ended December 31, 2021 and is reported as loan forgiveness within the [audited] consolidated statements of activities. In addition, due to the nature of PSI's Federal awards, PSI was required to credit the forgiven PPP loan amount to their indirect expense pools for the year ended December 31, 2021.

"The Small Business Administration (the SBA) has stated that all PPP loans in excess of $2 million, and other PPP loans as appropriate, will be subject to potential audit by the SBA for compliance with PPP requirements over a ten-year lookback period. If the SBA were to determine that PSI lacked an adequate basis for the required certification concerning the necessity of the loan request or the subsequent use of loan proceeds, the SBA will seek repayment of the PPP loan, including interest and potential penalties. While PSI believes the PPP loan was properly obtained, there can be no assurance regarding the outcome of a potential SBA audit."

According to the Population Services International (PSI) consolidated audit of December 31, 2021 (Note 16, Related Party Transactions):

"PSI Europe (PSI/E) was formed in 1996 as an independently governed organization that is not consolidated in the accompanying [audited] financial statements. PSI appointed one of three founding members to the Board of PSI/E. During 2021 and 2020, PSI paid PSI/E approximately $807,00 and $878,000, respectively, in sub-award expenses. As of December 31, 2021 and 2020, PSI/E owed PSI approximately $144,000 and $303,000, in relation to advances received from PSI that were not yet spent.

"PSI has entered into certain transactions with Greenstar Social Marketing Pakistan (Guarantee) Limited (Greenstar), an organization of which PSI representatives are Board members of Greenstar, and a member of Greenstar's Board is a board member on the PSI governing Board of Directors. During 2021 and 2020, PSI paid Greenstar approximately $689,000 and $1.7 million, respectively, in subaward expenses.

"PSI representatives are Board members of SFH Nigeria and a SFH Nigeria representative was a board member on the PSI governing Board of Directors until December 31, 2020. For the years ended December 31, 2021 and 2020, PSI paid SFH Nigeria approximately $3.4 million and $3.0 million, respectively and in 2021, SFH Nigeria paid PSI approximately $217,000. SFH Nigeria owed PSI approximately $1,119,842 and $343,000 for the years ended December 31, 2021 and 2020, respectively.

"PSI representatives are on the PS Kenya governing Board of Directors and support PS Kenya management. PSI paid PS Kenya approximately $3.4 million and $588,000 for the years ended December 31, 2021 and 2020, respectively. PSI owed PS Kenya approximately $735,000 and $659,000 for the years ended December 31, 2021 and 2020. In 2021 and 2020, payments to PS Kenya were offset by the loan amounts due in the respective years (see Note 2w). [Note 2w states: 'For the years ended December 31, 2021 and 2020, PS Kenya owed PSI $2,528,658 and $3,228,658, respectively.']

"Effective January 1, 2021, PACE Uganda became an independently governed organization. In accordance with authoritative guidance on consolidation, PACE Uganda's financial transactions are no longer consolidated for financial reporting purposes. PSI representatives are Board members of PACE Uganda. For the year ended December 31, 2021, PACE Uganda paid PSI approximately $36,000.

"Effective October 1, 2021, PSH Zimbabwe became an independently governed organization. In accordance with authoritative guidance on consolidation, PSH Zimbabwe's financial transactions are no longer consolidated for financial reporting purposes. PSI representatives are Board members of PSH Zimbabwe. For the year ended December 31, 2021, PSI paid PSH Zimbabwe approximately $8.3 million and PSH Zimbabwe owed PSI approximately $7.1 million."

According to the Population Services International (PSI) consolidated audit of December 31, 2021 (Note 2(e), Investments):

"Investments in equity and fixed income mutual funds and fixed income securities are measured and reported at fair value. The fair value of fixed income securities and institutional mutual funds with readily determinable fair value is based on quotations obtained from national security exchanges.

"Investments are exposed to risks, such as interest rate, market, and credit. Due to the level of risks associated with certain investments, it is at least reasonably possible that changes in the values of investments will occur in the near term and such changes could materially affect the fair value of investments reported in the [audited] consolidated statements of financial position."

According to the Population Services International (PSI) consolidated audit of December 31, 2021 (Note 18, Risks and Uncertainties):

"On January 30, 2020, the World Health Organization (WHO) announced a new strain of coronavirus. As a result of the risks to the international community as the virus has spread globally...on March 11, 2020 the WHO declared the novel coronavirus a global pandemic.

"Despite the impact of COVID-19 on the global supply chain and economies, PSI has been able to continue implementation of program activities in both 2021 and in 2020. While the ongoing impact of COVID-19 is still uncertain, PSI does not expect a material impact on its operations and financial results."

According to the Population Services International (PSI) 2021 tax filing, PSI reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

"Incentive Compensation Policy:

The Organization maintains an incentive compensation policy as a means of rewarding employees in their achieving individual and organizational goals."


PSI reports "Bonus & incentive compensation" payments to nine individuals in 2021, including $34,025 and $28,000 paid to Kim Schwartz, Senior Vice President, and Michael Holscher, Chief Delivery Officer, respectively. Their reported total compensation in 2021 is $407,831 and $428,929, respectively. The other seven reported "Bonus & incentive compensation" payments range from $20,384 to $3,500, with associated reported total compensation ranging from $306,750 to $166,635 (IRS Form 990, Schedule J, Part II).


Related Articles

No related articles found