Technoserve Inc.

“During 2020, the following technoserve bylaws were amended and restated. Article v committees 1. Executive committee. Subject to the limitations of authority set forth in section 712(a) of the new york not-for-profit-corporation law (n-pcl 712(a)), an executive committee shall be appointed to act in the place of the board of directors when authority is designated by the board or when the board is not in session. The executive committee shall keep regular minutes of its proceedings, and all action by the executive committee shall be reported at each regular or special meeting of the board of directors immediately following such action. The executive committee shall consist of at least three directors, including the chair and the vice chair. Each member of the executive committee shall be elected annually by a majority vote of the members of the board of directors then in office to serve until the earlier of the election of a successor or the end of the director's term on the board of directors. Article vi conflicts of interest in order to protect the corporation against any real or potential conflicts of interest, the board of directors shall adopt a written conflict of interest policy that will govern the independence of directors, officers and key persons as well as transactions in which directors, officers and key persons have a financial interest. Any director, officer or key person who has an interest in a related party transaction shall disclose in good faith to the board of directors, or an authorized committee thereof, the material facts concerning such interest.”

“The draft form 990 is prepared and reviewed internally by senior management and provided to the audit committee for review. The final form 990 is distributed to the board of directors prior to filing with the internal revenue service.”

“Technoserve's conflict of interest policy requires each director, officer and key employee to disclose any potential conflict of interest and recuse him/her self from any involvement in a decision in which the individual has or may have a conflict of interest. On an annual basis, each director, officer and key employee is required to complete a statement that includes an acknowledgement that the individual has read and understands the policy, agrees to abide by the policy and discloses any conflicts. In addition, the organization has a policy that clarifies the process in which employees, volunteers and consultants may disclose any possible conflicts of interest.”

“The chief human capital officer conducts reviews of compensation including benchmarking against other non-profit organizations. Senior management salaries and increases are presented to and subject to approval by the compensation committee of the board of directors.”

“Financial statements, conflict of interest policy and governing documents are available upon request for the same period of disclosure as set forth in section 6104(d). The organization's most recent form 990 is also available on its website at www.technoserve.org.”

“Technoserve works with enterprising men and women in the developing world to build competitive farms, businesses, and industries. A nonprofit organization operating in 29 countries, technoserve is a leader in harnessing the power of the private sector to help people lift themselves out of poverty. By linking people to information, capital, and markets, we have helped millions to create lasting prosperity for their families and communities. Founded over 50 years ago, technoserve has been named the #1 nonprofit for fighting poverty by an charity ratings agency. During the course of 2020, our work benefited 298,000 farmers, businesses, and employees, improving the lives of an estimated 1.3 million household members. We helped these beneficiaries generate more than $188 million in additional revenue and wages. Women's economic empowerment is a central focus of technoserve's work, and 39% of all of our beneficiaries were women in 2020. Below, we provide updates from several key projects and practices, representing a cross-section of technoserve's work in agricultural value chains and entrepreneurship around the world: responding to the covid-19 pandemic, which had enormous economic consequences for entreprenuers, technoserve and the mastercard foundation launched the the micro-enterprises strengthened for pandemic adaptation and resilience in kenya (mspark) program. Over the course of a year, the program is helping 28,000 micro-entrepreneurs by providing remote, digital training on skills and techniques to navigate the crisis and facilitating access to financing to help their businesses recover. In benin, technoserve is leading the benincaju project, which was launched in 2016 and is funded by the u.s. Department of agriculture (usda). By providing agronomy training to farmers, building the capacity of cashew-nut and cashew-apple processors, harnessing new technology, and improving access to finance and markets, the program is helping to make the cashew sector an engine for benin's economic development. To date, the program has provided training to more than 75,000 farmers and has helped participants to sell nearly $80 million of raw cashew nuts. With the support of the usda and the wehubit program of the belgium development agency enabel, , technoserve is also piloting the use of new technologies to support the livelihoods of benin's cashew farmers. The organization is using drone and satellite technology, coupled with machine learning, to create the first comprehensive map of benin's cashew farmers, allowing training, extension workers, and other resources to be deployed where they are most needed. It has also developed chatbots that help extension workers provide more impactful guidance to farmers. From honduras to zimbabwe and peru to ethiopia, technoserve is working to build a sustainable global coffee sector. Technoserve's programs help farmers improve the quality and yields of their coffee and strengthen the value chain, helping to ensure that coffee growers earn better prices and improve the resilience of their farms. In 2020, technoserve's coffee programs helped 77,918 farmers earn more than $42 million in additional income. The strengthening african processors of fortified foods (sapff) program, a partnership between technoserve, partners in food solutions, and the bill & melinda gates foundation, is working to boost nutrition and food security by improving consumer access to fortified food in nigeria, kenya, and tanzania. The program works with food processors to adopt food fortification and increase their capacity to produce safe, nutritious food. In 2020, sapff convened the 3rd annual nigeria food processing and leadership forum, where it was announced that the program's private-sector partners had increased the country's supply of fortified wheat flour by 68% from 2018enough to reach an additional 73.5 million peopleand tripled the supply of fortified sugar, helping to reach an additional 125 million nigerians. Techno”

“Professional services: program service expenses 8,608,970. Management and general expenses 473,193. Fundraising expenses 1,086,083. Total expenses 10,168,246.”

“Currency translation adjustments -133,268. Refund of grant 9,850.”

“The process for overseeing the audit of the financial statements and selection of an independent accountant that audited the financial statements has been consistent with prior years.”

“Technoserve worldwide number of employees during the 2020 is 1,778, part i line 5 shows 132, for which the organization has issued corresponding w-2s.”