Myagro Farms
501(c)(3) Donations tax-deductible
91% goes to programs $10 to raise $100 Strong reserves Declining revenue
Myagro Farms is a 501(c)(3) organization based in New York, New York, registered in 2013, with $6,037,141 in FY2024 revenue. CharityIndex grades it C, and it directs about 91% of spending to programs.
200 Broadway 3rd Floor, New York, NY, 10038 EIN 45-5267449 Since 2013
Revenue (FY2024)
$6.0M
▼ 73.3% vs prior year
Expenses (FY2024)
$28.4M
Net assets
$32.7M
Employees
31
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →AProgram efficiency40% of the rating91% to programs · $10 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Myagro Farms: 91% to programs · $10 to raise $100 earns a A on this criterion. See the exact thresholds →
FFinancial health25% of the rating14 mo reserves · -370% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Myagro Farms: 14 mo reserves · -370% margin earns a F on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Myagro Farms: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Myagro Farms: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Myagro's unique mobile layaway platform allows farmers to use their mobile phones to purchase seeds and fertilizer in small increments and provides agricultural training to farmers who invested in myagro packages, sharing harvest-improving agricultural techniques.
What they do
Research, development, & evaluation: myagro focuses on data-driven self-reflection and organizational improvement to better understand the challenges faced by rural communities and to deliver value to farmers. in addition to core product delivery and training services offered each agricultural season, myagro innovates with farmers to develop new solutions that address barriers to agricultural success such as climate shock and gender inequity. we also conduct harvest evaluations to better understand program impact, focusing on two key indicators, (1) percent increase in yield and (2) additional net income earned among myagro farmers relative to control farmers. since 2018, the program has resulted in an average 130% yield increase and $156 additional income earned per farmer. for households living on less than $2 per day, these results have transformative effects: improving family food security, covering school and medical fees, and enabling farmers to reinvest to further diversify and increase their income. there were approximately 44,000 research and development participants during the calendar year 2024.
Farmer product & service delivery: myagro has built a scalable and replicable model that served low-income, rural customers at the last mile. myagro recruits and trains women entrepreneurs from within villages, who then market and sell climate-smart agricultural packages to local farmers using our custom mobile application. farmers are then able to make small layaway payments over time to purchase packages of seeds and fertilizer, tree seedlings, and poultry which are delivered within 10 km. by combining offline customer service with mobile technology, myagro overcomes two key barriers to building sustainable financial tools for farmers: customer trust and client density. myagro operates in mali, senegal, and cte d'ivoire, where the majority of the population works in agriculture. only 20% of households in africa have formal bank accounts (world bank), and 87% of farmers surveyed in 2023 had no prior access to a similar service like myagro's. our target audience is smallholder farmers living on less than $2 per day, and 70% of our customers are women. myagro served approximately 360,000 farmers during the calendar year 2024.
Contact & location
Financial trends
Revenue grew from $1.4M (FY2013) to $6.0M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $4.0MNet assets $32.7M
Operating margin
-369.6%
Spent more than it raised in the latest fiscal year.
Total assets
$36.7M
Total liabilities
$4.0M
Net assets
$32.7M
Salaries & benefits
$5.5M
19% of expenses
Board members
9
8 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $6,037,141▼73.3% | $28,351,139▲214% | $32,669,914▼75.7% | $36,710,767▼73.6% | 990 |
| 2023 | $22,574,181▲16.2% | $9,020,869▲3.5% | $134,476,385▲11.2% | $138,938,502▲13.9% | 990 |
| 2022 | $19,430,121▼75.5% | $8,717,701▲271% | $120,922,585▲9.7% | $122,019,426▲7.2% | 990 |
| 2021 | $79,352,581▲519% | $2,352,766▼32.9% | $110,230,260▲233% | $113,821,960▲204% | 990 |
| 2020 | $12,816,140▲19.3% | $3,506,855▼11.0% | $33,115,125▲40.3% | $37,466,231▲37.2% | 990 |
| 2019 | $10,745,753▼5.3% | $3,938,077▲28.0% | $23,596,654▲40.5% | $27,316,484▲49.4% | 990 |
| 2018 | $11,351,082▲21.5% | $3,076,319▼64.1% | $16,789,088▲839% | $18,279,428▲415% | 990 |
| 2017 | $9,340,725▲57.4% | $8,565,446▲60.8% | $1,788,825▲70.2% | $3,546,653▲85.4% | 990 |
| 2016 | $5,934,669▲96.7% | $5,326,494▲60.1% | $1,051,071▲151% | $1,913,414▲91.5% | 990 |
| 2015 | $3,016,993▲30.7% | $3,327,123▲47.6% | $418,735▼13.5% | $999,252▲47.7% | 990 |
| 2014 | $2,308,471▲69.5% | $2,254,189▲193% | $484,056▼41.2% | $676,491▼19.5% | 990 |
| 2013 | $1,361,651 | $769,787 | $822,560 | $840,474 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Anushka Ratnayake — $289,234 (1.02% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Anushka Ratnayake | Ceo & Founder (see Schedule O) | 40 | $289,234 |
| Siddhanta Wiesner | Chief Technology Officer | 40 | $213,289 |
| Douglas Bradbury | Director of Software Engineering | 40 | $187,431 |
| Shon Morris | Chief Talent Officer | 40 | $177,716 |
| Li-hsuan Lung | Engineering Lead | 40 | $163,484 |
| Stephanie Kabore | Director of Finance (thru 11/7/24) | 40 | $136,140 |
| Casey Cline | Interim Ceo (see Sch. O) & Managing Dir., Us | 40 | $132,785 |
| Grant Adams | Software Engineer | 40 | $128,147 |
| Erin Moore | Chief of Staff (thru 6/20/24) | 40 | $98,079 |
| Roman Hingorani | Chief Financial Officer (thru 1/12/24) | 40 | $23,615 |
| Dido Harding | Chairman | 2 | — |
| Evan Marwell | Director | 2 | — |
| Farrah Barrios | Director | 2 | — |
| Mamadou Biteye | Director | 2 | — |
| Ousseynou Nakoulima | Director | 2 | — |
| Patrick Tognisso | Chief Operating Officer | 0 | — |
| Raji Kalra | Contracted Cfo (see Schedule O) | 40 | — |
| Ramatoulaye Diallo | Director | 2 | — |
| Randi Hedin | Director | 2 | — |
| Rich Leimsider | Director | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Procfo Partners LLC | Fractional Cfo Services | $372,800 |
| Idinsight Inc | M&e Consulting | $197,000 |
| Bdo USA | Audit & Tax | $189,897 |
| Egon Zehnder Sas | Executive Search & Recruitment | $127,642 |
Grants received · $22.2M total
62 grants to Myagro Farms totaling $22.2M, reported by foundations on their Schedule I filings — showing the 15 most recent.
Frequently asked questions
- Is Myagro Farms a legitimate nonprofit?
- Yes. Myagro Farms is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 45-5267449, based in New York, New York. Donations are tax-deductible.
- What is Myagro Farms's EIN?
- Myagro Farms's Employer Identification Number (EIN) is 45-5267449.
- How much revenue does Myagro Farms report?
- Myagro Farms reported $6,037,141 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Myagro Farms's spending goes to programs?
- Myagro Farms spends about 91% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Myagro Farms have?
- CharityIndex grades Myagro Farms C, based on program efficiency and fundraising cost.
- How much does Myagro Farms's highest-paid employee make?
- The highest reported compensation on Myagro Farms's latest Form 990 is $289,234, paid to Anushka Ratnayake (Ceo & Founder (see Schedule O)).
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Data for Myagro Farms (EIN 45-5267449) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.