Grameen America Inc

Jackson Heights, NY   |  www.grameenamerica.org

Mission

Founded by Nobel Peace Prize laureate Muhammad Yunus in 2008, Grameen America is a nonprofit microfinance organization that empowers women who live in poverty to create better lives for themselves and their families through entrepreneurship. We offer microloans, training, and support to transform communities and fight poverty in the United States.

Ruling year info

2008

CEO

Andrea Jung

Main address

82-11 37th Avenue, Suite 607

Jackson Heights, NY 11372 USA

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EIN

20-8497991

NTEE code info

Economic Development (S30)

Community, Neighborhood Development, Improvement (S20)

Financial Counseling, Money Management (P51)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Grameen America

Founded by Nobel Peace Prize laureate Muhammad Yunus in 2008, Grameen America is a nonprofit microfinance organization that empowers women who live in poverty to create better lives for themselves and their families through entrepreneurship. The fastest-growing nonprofit microfinance organization in the U.S., Grameen has assisted over 150,000 low-income minority women entrepreneurs, investing more than $2.5 billion in their small businesses.

Grameen America serves the most disadvantaged communities with the greatest barriers to economic independence and helps women entrepreneurs build their small businesses by closing the capital and capacity gaps that are extensive for this demographic. Through access to affordable microloans, wraparound services, and peer support, we help women in our program increase their business income to stabilize families, revitalize low-income communities and create multigenerational change.

Population(s) Served
People of African descent
Multiracial people
People of Latin American descent
Women
Economically disadvantaged people

Where we work

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Grameen America aims to build capacity to serve over 150,000 women entrepreneurs with affordable capital, credit-establishment and asset-building services, enabling them to invest in their businesses and create better lives for themselves and their families.

Using a data-driven approach to identify markets with the greatest need, Grameen America targets the most economically distressed communities to expand access to safe and affordable financial services and support.

Grameen America has a proven model to reach low-income women entrepreneurs in economically distressed communities at scale with access to capital, credit-establishment and asset-building services.

As of Q2 2015, Grameen America has disbursed nearly $300,000,000 in microloans to more than 53,000 women in 11 cities across the United States.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • Who are the people you serve with your mission?

    Our members are 99% Black or Latino, and 100% live at or below the federal poverty line, as defined by the U.S. Census Bureau poverty thresholds. With an average age of 40, most are single mothers and heads of household with an average family size of 3. With no or poor credit score and limited financial resources and education, our members struggled to grow their businesses and climb out of poverty prior to joining Grameen America. Currently, we serve upwards of 60,000 women per year.

  • How is your organization collecting feedback from the people you serve?

    SMS text surveys, Electronic surveys (by email, tablet, etc.), Paper surveys, Focus groups or interviews (by phone or in person), Case management notes, Community meetings/Town halls, Suggestion box/email,

  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals,

  • With whom is the organization sharing feedback?

    Our staff, Our board, Our funders, Our community partners,

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We tell the people who gave us feedback how we acted on their feedback, We ask the people who gave us feedback how well they think we responded,

  • What challenges does the organization face when collecting feedback?

    It is difficult to find the ongoing funding to support feedback collection,

Financials

Grameen America Inc
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

Grameen America Inc

Board of directors
as of 07/06/2022
SOURCE: Self-reported by organization
Board co-chair

Muhammad Yunus

Grameen Bank


Board co-chair

John Megrue

Bridgewater Associates

Vidar Jorgensen

Primacare, World Health Care Congress

Muhammad Yunus

Grameen America

Michael Granoff

Pomona Capital, L.P.

Mahmoud Mamdani

Morgan Stanley

Antonia Hernandez

California Community Foundation

Andrea Jung

Grameen America

Karen Pritzker

Seedlings Foundation

Bob Annibale

University of London, SOAS

Nandita Bakhshi

Bank of the West and BNP Paribas USA

Ben Farkas

Hellman and Friedman

Abdul Khan

Grameen Trust

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Not applicable

Organizational demographics

SOURCE: Self-reported; last updated 7/6/2022

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

The organization's leader identifies as:

Race & ethnicity
Asian American/Pacific Islanders/Asian
Gender identity
Female, Not transgender (cisgender)
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

Gender identity

 

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 07/06/2022

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We ask team members to identify racial disparities in their programs and / or portfolios.
  • We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
Policies and processes
  • We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.