Two US-based nonprofit organizations, the Grameen Foundation and Freedom from Hunger, recently announced they will merge into a single organization, retaining the name of the Grameen Foundation. The new organization has described its mission as to “enable the poor, especially women, to create a world without poverty and hunger” by conducting programs to “expand financial inclusion, enhance health, strengthen resilience and improve livelihoods for people in poor, rural communities around the world” [1].
Kathleen Stack, the new Executive Vice President of the Grameen Foundation and previous Interim President and CEO of Freedom from Hunger, stated that “there is a natural synergy between Freedom from Hunger’s focus on providing the world’s poorest women with self-help tools and Grameen Foundation’s expertise in digital innovation to end poverty” [1].
As of March 31, 2016, the Grameen Foundation reported total revenue of USD 18 million and total assets of USD 11.2 million. As of June 30, 2015, Freedom from Hunger had an annual budget of USD 6.2 million.
By Imke Herholdt, Research Associate
About Grameen Foundation
The Grameen Foundation, a nonprofit based in the US city of Washington DC, with its mission to “enable the poor, especially women, to create a world without poverty and hunger” by conducting programs to “expand financial inclusion, enhance health, strengthen resilience and improve livelihoods for people in poor, rural communities around the world”. The Foundation has offices in Africa, the Americas and Asia. In India, it operates through the Grameen Foundation India, a wholly-owned subsidiary. It operates in the Middle East and North Africa through Grameen-Jameel Microfinance Limited, a joint venture with Abdul Latif Jameel Community Initiatives, a subsidiary of the Middle Eastern based Abdul Latif Jameel. As of 2016, the US-based NGO Freedom from Hunger is merging into the Grameen Foundation. As of March 31, 2016, Grameen Foundation reported total annual revenue of USD 18 million and total assets of USD 11.2 million.
About Freedom from Hunger
As of 2016, Freedom from Hunger is merging into the US-based Grameen Foundation. In advance of the merger the Freedom from Hunger is an NGO operates in developing countries with the aim of alleviating hunger and poverty from its headquarters in the US city of Davis, California. As of June 30, 2015, Freedom from Hunger worked with a budget of USD 6.2 million, 180 partners in 23 countries and had 5.7 million clients.
Sources and Additional Resources
[1] Grameen Foundation: Grameen Foundation and Freedom from Hunger Join Forces to Form a Unified Global Organization
[2] MicroCapital Universe Profile: Grameen Foundation
[3] Microcapital Universe Profile: Freedom from Hunger
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
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