2025-09-16T11:02:55-05:00 2024-12-31 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 9TH FLOOR NEW YORK NY 100172013 990 2024-01-01 208497991 GRAMEEN AMERICA INC GRAM 7187040438 82-11 37TH AVENUE 607 JACKSON HEIGHTS NY 11372 LUCAS RAMIREZ CFO 7187040424 2025-09-16 1 1 SCOTT THOMPSETT P00741490 2125990100 2024 2025-03-06 01:10:19Z ANDREA JUNG 82-11 37TH AVENUE 607 JACKSON HEIGHTS NY 11372 141849164 0 X WWW.GRAMEENAMERICA.ORG X 2007 MA GRAMEEN AMERICA IS DEDICATED TO HELPING LOW INCOME ENTREPRENEURIAL WOMEN. (SEE SCHEDULE O) 15 14 477 14 0 0 41864274 84309915 40382850 54296895 660219 2918723 477065 313543 83384408 141839076 680000 0 0 0 20171646 28399600 0 0 1230183 12091387 16931657 32943033 45331257 50441375 96507819 374435374 526174952 174138759 228843596 200296615 297331356 X SEE SCHEDULE O. 0 0 42014795 54296895 GRAMEEN AMERICA IS DEDICATED TO HELPING LOW-INCOME ENTREPRENEURIAL WOMEN BUILD BUSINESSES TO ENABLE FINANCIAL MOBILITY. 42014795 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 77 0 1 477 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA FL IL MD MA MI NJ NY PA SC TN GA X X JOEL SHTEIR CPA 7187040438 82-11 37TH AVENUE SUITE 607 JACKSON HEIGHTS NY 11372 ANDREA JUNG PRESIDENT & CEO 40.00 0.00 X X 638041 0 16546 PROFESSOR MUHAMMAD YUNUS CO-CHAIR (THRU 09/2024) 5.00 0.00 X X 0 0 9461 JOHN F MEGRUE CO-CHAIR 5.00 0.00 X X 0 0 0 MICHAEL D GRANOFF DIRECTOR 0.50 0.00 X 0 0 0 VIDAR J JORGENSEN DIRECTOR 0.50 0.00 X 0 0 0 KAREN PRITZKER DIRECTOR 0.50 0.00 X 0 0 0 MAHMOUD MAMDANI DIRECTOR 0.50 0.00 X 0 0 0 BENJAMIN FARKAS DIRECTOR 0.50 0.00 X 0 0 0 ROBERT ANNIBALE DIRECTOR 0.50 0.00 X 0 0 0 NANDITA BAKHSHI DIRECTOR 0.50 0.00 X 0 0 0 LORI DICKERSON FOUCHE DIRECTOR 0.50 0.00 X 0 0 0 JENNIFER R JACKSON DIRECTOR 0.50 0.00 X 0 0 0 MARIA C ALONSO DIRECTOR 0.50 0.00 X 0 0 0 TASMINA RAHMAN DIRECTOR 0.50 0.00 X 0 0 0 ADRIANA P TORRES DIRECTOR 0.50 0.00 X 0 0 0 MILEYKA BURGOS-FLORES DIRECTOR (AS OF 06/2024) 0.50 0.00 X 0 0 0 LUCAS RAMIREZ CFO 40.00 0.00 X 362335 0 17196 MIRIAM BENITEZ NIEVES SEC. & VP OF LEGAL 40.00 0.00 X 227568 0 16348 RAJITHA SWAMINATHAN VP, PROGRAM STRATEGY & MEMBER SVCS 40.00 0.00 X 230149 0 12256 JILL MONUM VP, DEVELOPMENT & MARKETING 40.00 0.00 X 231768 0 6488 PATRICIA CHOI CHIEF TECHNOLOGY OFFICER 40.00 0.00 X 349507 0 16510 DIANA SACCHI CHIEF HUMAN RESOURCES OFFICER 40.00 0.00 X 290255 0 17650 HABIB CHOWDHURY VP, NATIONAL OPERATIONS 40.00 0.00 X 238843 0 29221 MARCUS BERKOWITZ CHIEF PRODUCT & INNOVATION OFFICER 40.00 0.00 X 222729 0 18504 GREGORY JOHN MANN VP, CULT & ENGAGEMENT 40.00 0.00 X 220749 0 7706 3011944 0 167886 30 0 1 0 ENDAVA INC 125 OLD BROAD STREET LONDON UK EC2N 1AR IT SERVICES 1736757 INVAR TECHNOLOGIES INC 110 DUANE STREET APT 1C NEW YORK NY 10007 IT SERVICES 1593089 AMC CONSULTING LLC 4111 HAMILTON STREET HYATTSVILLE MD 20781 MARKETING CONSULTING SERVICES 355191 BLACK BUSINESS BOOM LLC 6339 CHARLOTTE AVE NASHVILLE TN 37209 COACHING CONSULTING SERVICES 197700 CONSCIOUSLY COMPANY LLC 1 LAUREL PLACE MONTCLAIR NJ 07043 MARKETING CONSULTING SERVICES 161250 7 2485000 81824915 10075 84309915 INTEREST ON MICROLOANS 520000 54296895 54296895 54296895 2918736 2918736 10075 10088 -13 -13 -13 PARTICIPATION INCOME 900099 204160 204160 REIMBURSED EXPENSES 900099 108500 108500 883 883 313543 141839076 54296895 0 3232266 1758695 1328734 139999 289962 22689852 21170183 802980 716689 298335 273725 11508 13102 1651642 1539766 46878 64998 2001076 1854878 67501 78697 415959 415959 243619 243619 1633594 1284004 342130 7460 243980 168056 73402 2522 953540 924670 19640 9230 2537138 2308089 229049 1012005 1000580 11425 603220 545740 26304 31176 5722250 5718246 4004 724601 724601 156176 132750 23426 BAD DEBT EXPENSE 2218729 2218729 STAFF DEVELOPMENT 122273 104077 17925 271 EQUIP. RENTAL & MAINT. 104937 103837 1100 RECRUITMENT 82838 70412 12426 156798 127759 12963 16076 45331257 42014795 2086279 1230183 40162619 40275810 56480021 108270764 5068334 21604566 20979 0 1645673 2593107 3218183 845835 1698616 2372348 267578522 350931007 1780610 127350 374435374 526174952 4505426 5877096 169633333 222966500 174138759 228843596 X 171631244 262406903 28665371 34924453 200296615 297331356 374435374 526174952 96507819 526922 0 X 0 1 X 1 1 1 X 43135716 27786990 15675525 41864274 84309915 212772420 43135716 27786990 15675525 41864274 84309915 212772420 33622381 179150039 354164 85759 246976 1486996 2918736 5092631 548966 335215 644091 477065 313543 2318880 220183931 158119202 0.81360 0.63820 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: REBATES/REWARDS - 2020 AMOUNT: $ 147,366. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 0. 2024 AMOUNT: $ 0. REIMBURSEMENT OF EXPENSES - 2020 AMOUNT: $ 94,982. 2021 AMOUNT: $ 50,498. 2022 AMOUNT: $ 128,500. 2023 AMOUNT: $ 116,942. 2024 AMOUNT: $ 108,500. PARTICIPATION INCOME - 2020 AMOUNT: $ 252,386. 2021 AMOUNT: $ 145,064. 2022 AMOUNT: $ 443,991. 2023 AMOUNT: $ 308,217. 2024 AMOUNT: $ 204,160. MANAGEMENT FEES - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 60,000. 2022 AMOUNT: $ 60,000. 2023 AMOUNT: $ 30,000. 2024 AMOUNT: $ 0. MISCELLANEOUS INCOME - 2020 AMOUNT: $ 54,232. 2021 AMOUNT: $ 79,653. 2022 AMOUNT: $ 11,600. 2023 AMOUNT: $ 21,906. 2024 AMOUNT: $ 883. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3218183 845835 2372348 2372348 PROGRAM LOANS, NET OF ALLOWANCE 349931007 C INVESTMENT IN GASBF II 1000000 C 350931007 X 143365998 526922 1000000 1526922 141839076 0 141839076 46331257 1000000 1000000 45331257 0 45331257 PART X, LINE 2: THE ORGANIZATION FOLLOWS GUIDANCE THAT CLARIFIES ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS IF THE POSITION IS MORE-LIKELY-THAN-NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE ORGANIZATION HAS PROCESSES IN PLACE TO ENSURE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED BUSINESS INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. IN ADDITION, THE ORGANIZATION HAS NOT RECORDED A PROVISION FOR INCOME TAXES AS IT HAS NO MATERIAL TAX LIABILITY FROM UNRELATED BUSINESS INCOME ACTIVITIES. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 ANDREA JUNG PRESIDENT & CEO 496329 0 140000 0 1712 0 8904 0 7642 0 654587 0 0 0 LUCAS RAMIREZ CFO 303381 0 58684 0 270 0 8769 0 8427 0 379531 0 0 0 PATRICIA CHOI CHIEF TECHNOLOGY OFFICER 299475 0 49997 0 35 0 9106 0 7404 0 366017 0 0 0 DIANA SACCHI CHIEF HUMAN RESOURCES OFFICER 240126 0 47885 0 2244 0 7390 0 10260 0 307905 0 0 0 HABIB CHOWDHURY VP, NATIONAL OPERATIONS 194583 0 43072 0 1188 0 6151 0 23070 0 268064 0 0 0 MIRIAM BENITEZ NIEVES SEC. & VP OF LEGAL 191001 0 35348 0 1219 0 5889 0 10459 0 243916 0 0 0 RAJITHA SWAMINATHAN VP, PROGRAM STRATEGY & MEMBER SVCS 189198 0 40789 0 162 0 1862 0 10394 0 242405 0 0 0 MARCUS BERKOWITZ CHIEF PRODUCT & INNOVATION OFFICER 187316 0 35251 0 162 0 4218 0 14286 0 241233 0 0 0 JILL MONUM VP, DEVELOPMENT & MARKETING 196313 0 35185 0 270 0 5889 0 599 0 238256 0 0 0 GREGORY JOHN MANN VP, CULT & ENGAGEMENT 188389 0 31586 0 774 0 0 0 7706 0 228455 0 0 0 PART I, LINE 1A GRAMEEN AMERICA, INC. PERMITS ANDREA JUNG, THE PRESIDENT & CEO, TO FLY FIRST CLASS WHEN SHE IS TRAVELING ON MATTERS PERTAINING TO THE ORGANIZATION'S MISSION. PART I, LINE 7 IN CALENDAR YEAR 2024, GRAMEEN AMERICA PROVIDED BONUSES TO VARIOUS INDIVIDUALS REPORTED ON THE FORM 990 UPON MEETING CERTAIN OBJECTIVE PERFORMANCE-BASED CRITERIA AS OUTLINED IN THE ORGANIZATION'S COMPENSATION POLICY. THE PRESIDENT AND CEO SETS ALL PERFORMANCE OBJECTIVES AND APPROVES ALL BONUSES AT YEAR END. THE BOARD SETS PERFORMANCE OBJECTIVES AND APPROVES THE BONUS FOR THE PRESIDENT AND CEO. THESE PAYMENTS ARE REPORTED IN SCHEDULE J, PARTII, COLUMN (B)(II). FORM 990, PART I AND PART III: FOUNDED BY NOBEL PEACE PRIZE RECIPIENT MUHAMMAD YUNUS, GRAMEEN AMERICA IS A SECTION 501(C)(3) NONPROFIT MICROFINANCE ORGANIZATION DEDICATED TO HELPING LOW INCOME ENTREPRENEURIAL WOMEN BUILD BUSINESSES TO ENABLE FINANCIAL MOBILITY. THE ORGANIZATION OFFERS MICROLOANS, TRAINING AND SUPPORT TO TRANSFORM COMMUNITIES AND FIGHT POVERTY IN THE UNITED STATES. SINCE OPENING IN JANUARY 2008, GRAMEEN AMERICA HAS INVESTED OVER $5.1 BILLION IN MORE THAN 222,000 LOW-INCOME WOMEN ENTREPRENEURS. LEARN MORE AT WWW.GRAMEENAMERICA.ORG. FORM 990, PART VI, SECTION A, LINE 4 GRAMEEN AMERICA AMENDED ITS BYLAWS IN CALENDAR YEAR 2024 TO REFLECT AN INCREASE IN ITS MAXIMUM BOARD OF DIRECTOR HEADCOUNT FROM 15 TO 17. IN ADDITION, GRAMEEN AMERICA REMOVED THE MANAGEMENT RESPONSIBILITIES OF GRAMEEN TRUST, AN ORGANIZATION THAT PLAYED A CRITICAL ROLE IN GRAMEEN AMERICA'S INCEPTION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION IN CONJUNCTION WITH ITS OUTSIDE ACCOUNTING FIRM. UPON COMPLETION, IT IS REVIEWED BY SENIOR MANAGEMENT AND SHARED WITH THE BOARD OF DIRECTORS. THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS VIA EMAIL TO ENSURE THAT ALL MEMBERS ARE AWARE OF ITS CONTENTS. ONCE THE BOARD APPROVES THE 990 FOR FILING, IT IS SUBMITTED ELECTRONICALLY TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY APPLIES TO DIRECTORS, OFFICERS, EMPLOYEES, AND ANY OTHER PERSON WHO WAS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE AFFAIRS OF GAI. ON AN ANNUAL BASIS, CONFLICT OF INTEREST QUESTIONNAIRES ARE DISTRIBUTED TO DIRECTORS, OFFICERS, AND KEY EMPLOYEES. POTENTIAL CONFLICTS OF INTEREST INVOLVING DIRECTORS, OFFICERS, AND KEY EMPLOYEES ARE REPORTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE DETERMINES WHETHER A CONFLICT OF INTEREST EXISTS AND EVALUATES CONFLICT OF INTEREST TRANSACTIONS. THE EXECUTIVE COMMITTEE ALSO REVIEWS EXISTING CONFLICTS OF INTEREST ON AN ANNUAL BASIS. AN INDIVIDUAL INVOLVED, DIRECTLY OR INDIRECTLY, IN AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST TRANSACTION MAY NOT PARTICIPATE IN ANY DISCUSSION OF THE RELEVANT TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PAID TO GRAMEEN AMERICA'S PRESIDENT AND CEO IS APPROVED BY THE BOARD OF DIRECTORS IN ACCORDANCE WITH THE ORGANIZATION'S GOVERNING DOCUMENTS. COMPENSATION LEVELS ARE ESTABLISHED WITHIN COMPETITIVE RANGES DETERMINED VIA A COMPENSATION STUDY PERFORMED IN JANUARY 2025 WHICH INCLUDED COMPARISONS WITH SIMILAR ORGANIZATIONS AND LOCAL MARKET CONDITIONS. GRAMEEN AMERICA, INC. RELIES UPON COMPARABILITY DATA FROM SIMILAR NOT-FOR-PROFIT ORGANIZATIONS WITHIN ITS GEOGRAPHIC AREA TO DETERMINE THE COMPENSATION OF ITS OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 GAI MAKES ITS FORM 990, ANNUAL FINANCIAL STATEMENTS, ANNUAL REPORT AND MISSION STATEMENT AVAILABLE ON ITS WEBSITE AT WWW.GRAMEENAMERICA.ORG. THE ORGANIZING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AND AT MANAGEMENT'S DISCRETION. GA FUND MANAGER LLC 82-11 37TH AVENUE SUITE 607 JACKSON HEIGHTS NY 11372 832270372 FUND MANAGER DE 0 0 GRAMEEN AMERICA GRAMEEN ELEVATE HOLDINGS LLC 82-11 37TH AVENUE SUITE 607 JACKSON HEIGHTS NY 11372 874020094 HOLDING COMPANY DE 0 0 GRAMEEN AMERICA GRAMEEN ELEVATE LLC 82-11 37TH AVENUE SUITE 607 JACKSON HEIGHTS NY 11372 874019244 MICROLENDING DE 38000 1307000 GRAMEEN ELEVATE HOLDINGS LLC GRAMEEN AMERICA TRUST 82-11 37TH AVENUE SUITE 607 JACKSON HEIGHTS NY 11372 397138567 SAVINGS VEHICLE DE 0 0 GRAMEEN AMERICA GRAMEEN AMERICA (NY) INC 82-11 37TH AVENUE SUITE 607 JACKSON HEIGHTS NY 10001 INACTIVE NY GRAMEEN AMERICA C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE R, PART I: GRAMEEN AMERICA TRUST THE TRUST'S PRIMARY ACTIVITY WILL BE TO ENCOURAGE SAVINGS BY GRAMEEN'S MEMBERS AND INCENTIVIZING THEM TO SAVE MORE THROUGH A VARIETY OF INVESTMENT OFFERINGS.