Website
Ratings & Metrics
Financial Documents
Entity | Document Type | Tax ID |
---|---|---|
TechnoServe | IRS Form 990 | 13-2626135 |
TechnoServe | Audited Consolidated Financial Statements | multiple |
Entity: TechnoServe Document Type: IRS Form 990 Tax ID: 13-2626135 |
Entity: TechnoServe Document Type: Audited Consolidated Financial Statements Tax ID: multiple |
Governance & Transparency
Top Salaries
Name | Title | Compensation | |
---|---|---|---|
1 | William Warshauer | President/CEO | $467,556 |
2 | Jeffrey Chrisfield | CFO | $317,030 |
3 | Kindra Halvorson | Chief Transformation Officer | $315,789 |
1 Name: William Warshauer Title: President/CEO Compensation: $467,556 |
2 Name: Jeffrey Chrisfield Title: CFO Compensation: $317,030 |
3 Name: Kindra Halvorson Title: Chief Transformation Officer Compensation: $315,789 |
Analysts' Notes
CharityWatch's rating of TechnoServe includes the financial activities of the entities consolidated in the TechnoServe audited financial statements for the year ended December 31, 2020. All inter-entity transactions have been eliminated in the audit consolidation.
|
According to the TechnoServe audited Consolidated Statement of Activities for the year ended December 31, 2020, TechnoServe received contributed services and in-kind donations on which it placed a total value of $1,780,591. [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 TechnoServe consolidated audit of December 31, 2020 (Note 8, Paycheck Protection Program Grant): "In April 2020, TechnoServe applied for and received $2,267,065 from the Paycheck Protection Program (PPP) as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Funds from the note may only be used for payroll costs, interest on other debt obligations, leases, and utilities. TechnoServe elected to...treat the loan as a conditional grant where revenue will be recognized as conditions are met. The conditions that must be met include; a) Eligibility requirements to be eligible to receive the loan, including justification of need for the loan must be met; b) the funds are used for qualifying expenses; and c) and the full-time equivalent (FTE) level and related payroll costs level requirements are also met as outlined by the PPP. As the full amount of the loan was spent on qualifying expenses, eligibility and need requirements to receive the loan were met and all FTE and payroll costs level requirements were also met during the 24 week covered period in 2020, TechnoServe determined all conditions were met to recognize the full amount of the loan as grant revenue during the year ended December 31, 2020. "On December 15, 2020, TechnoServe applied for loan forgiveness for the full amount received from the PPP. On June 11, 2021, the Small Business Administration fully approved the forgiveness application and all obligations under the PPP were satisfied." |
According to the TechnoServe consolidated audit of December 31, 2020 (Note 9, Commitments, Contingencies and Risks, International operations): "TechnoServe has field offices in various countries in Africa, Latin America, the Caribbean and India. The future results of TechnoServe's programs could be adversely affected by a number of potential factors such as changes in the political climate, inflation and currency fluctuation." According to the TechnoServe consolidated audit of December 31, 2020 (Note 9, Commitments, Contingencies and Risks, COVID-19): "In 2020, the global pandemic created substantial volatility in the financial markets and the economy... While TechnoServe has mitigated the financial impact on its business, it is unknown how long these conditions will last. Accordingly, there could be further negative impact to operations, the extent to which will depend on future developments which are uncertain and cannot be predicted, and as such cannot be determined." |
According to the TechnoServe consolidated audit of December 31, 2020 (Note 1 re: Investments): "Investments are exposed to various risks, such as market and credit. Due to the level of risk associated with such investments and the level of uncertainty related to changes in the value of such investments, it is at least reasonably possible that changes in risks in the near term could materially affect investment balances and the amounts reported in the [audited] consolidated financial statements." |
According to the TechnoServe consolidated audit of December 31, 2020 (Note 12, Conditional Grants): "As of December 31, 2020, TechnoServe has $217,641,924 of revenue to be earned on various conditional grants from various sources including the U.S. government, other governments and public institutions, corporations and foundations. This amount is not recognized in the accompanying [audited] consolidated financial statements as such revenue is recognized over the multi-year period of each respective grant agreement, conditional upon management of TechnoServe complying with grant requirements." |