Technoserve Inc.

“The following sections of bylaws changed during the year: article v committees 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.”

“Founded in 1968, technoserve is a leader in harnessing the power of the private sector to help people lift themselves out of poverty for good. A non-profit organization working in 30 countries, we work with people to build a better future through regenerative farms, businesses, and markets that increase incomes. Our vision is a sustainable world where all people in low-income communities have the opportunity to prosper. During the course of 2021, our work benefited 407,000 farmers, businesses, and employees, improving the lives of an estimated 2.3 million household members. We helped these beneficiaries generate more than $250 million in additional revenue and wages. Women's economic empowerment is a central focus of technoserve's work, and 41% of all of our beneficiaries were women in 2021. 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. Agricultural value chains 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, boost the resilience of their farms, protect natural resources, and combat climate change. In 2021, technoserve's coffee programs helped 173,352 farmers earn more than $52 million in additional income. In west africa, technoserve is leading the prosper cashew project, which was launched in 2020 and is funded by the u.s. Department of agriculture (usda). West africa is the world's number one producer and exporter of raw cashew nuts; however, only 7% of west africa's cashew crop is processed in the country. The five-year program aims to help cashew processors sell more than $200 million of processed cashew products into domestic, regional and international markets. The project will facilitate $61 million of investment in the cashew sector and create 4,500 new jobs, 50% of which will be for woman. In september 2021, the strengthening african processors of fortified foods (sapff) program, a partnership between technoserve, partners in food solutions, and the bill & melinda gates foundation, officially launched the micronutrient fortification index (mfi). This index provides a public, independently verified ranking of nigerian companies' performance in fortifying wheat flour, edible oil, sugar, and salt, thus promoting competitive business practices and supporting sapff's mission of improving consumer access to fortified foods. Supporting enterprise development technoserve's entrepreneurship practice supports the micro, small, and growing businesses that create employment and economic activity in local communities and have provided essential goods and services amid the covid-19 pandemic. Using careful adaptation, a market-driven approach, effective capacity development, and rigorous measurement and continuous learning, this work helped 65,559 people earn an additional $138 million amid the pandemic in 2021. In central america, for example, the crece tu empresa program provides young entrepreneurs with 60 hours of business training, 10 months of support, and 1:1 advice from business advisors. To date, the program has worked with more than 700 young people to grow their businesses and create economic opportunities in their communities.”

“Professional services: program service expenses 9,395,277. Management and general expenses 587,365. Fundraising expenses 1,172,403. Total expenses 11,155,045.”

“Currency translation adjustments -356,880. Refund of grant”

“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 2021 is 2,603, part i line 5 shows 145, for which the organization has issued corresponding w-2s.”