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Top Rated

TechnoServe

CharityWatch report issued
April 2022

Top-Rated Charity
A
CharityWatch Grade
Our independent grade based
on a number of factors.
 
80%
Program Percentage
Amount spent on programs
relative to overhead.
 
$5
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

TechnoServe
1777 North Kent Street
Suite 1100
Arlington, VA 22209

Other Names

None

Tax Status

501(c)3

Stated Mission

Works with enterprising people in the developing world to build competitive farms, businesses, and industries.

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Data based on Fiscal Year Ended 12/31/2020

Program Percentage: 80%

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

$68,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $5

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

$55,000,000

Calculated Total Contributions

(rounded)

Government Funding

25% to 49%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
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

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?
 
TechnoServe
meets governance benchmarks.
 
TechnoServe
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 Opt-In Policy  

  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

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 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 2020 consolidated audit (Note 1 re: Nature of Activities): TechnoServe is headquartered in Arlington, Virginia, and "TechnoServe operates in 26 countries across Africa, Latin America, the Caribbean and India..."

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."


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