Better Business Bureau Report for
One Acre Fund

Better Business Bureau Report issued August 2016
Better Business Bureau Report expires August 2018


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: One Acre Fund
Address: 1954 First St. #183
  Highland Park, IL 60035
Phone: 646-496-6855
Web Address: www.oneacrefund.org
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Better Business Bureau Comments

Formerly known as:Little Farmers Renewing Fund

Year, State Incorporated: 2005, Illinois
Affiliates: None
Stated Purpose: One Acre Fund serves smallholder farmers. In everything they do, One Acre Fund places the farmer first. They measure success in their ability to make more farmers more prosperous. One Acre envisions a future in which every farm family has the knowledge and means to achieve big harvests, support healthy families, and cultivate rich soils.

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Evaluation Conclusions

              

One Acre Fund does not meet the following 3 Standards for Charity Accountability.

Standard 4: Compensated Board Members - Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.

One Acre Fund does not meet this Standard because:

  • TWO (2) member(s) out of the SEVEN (7) member board of directors (29%) is/are compensated either directly or indirectly.

Standard 16: Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.

One Acre Fund does not meet this standard because the most recent annual report did not include:

  • Total income.
  • Total program expenses.
  • Total expenses for each program in the same categories that appear in the organization’s financial statements.
  • Total fund raising expenses.
  • Total administrative expenses.
  • Total end of year net assets.

Standard 17: Web Site Disclosures - Include on any charity websites that solicit contributions, the same information that is recommended for annual reports, as well as the mailing address of the charity and electronic access to its most recent IRS Form 990.

One Acre Fund does not meet this Standard because the organization's website, www.oneacrefund.org, does not include all of the recommended information for those charity websites that solicit for donations. Specifically, it does not include:

  • Electronic access to the organization’s most recent IRS Form 990.
One Acre Fund meets the remaining 17 Standards for Charity Accountability.
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Programs

              

Smallholder farmers living in remote places need support in more than one area. One Acre Fund provides a complete set of services within walking distance of the farmers they serve. Their service bundle includes: - Financing for farm inputs - Distribution of seed and fertilizer - Training on agricultural techniques - Market facilitation to maximize profits from harvest sales Farming is the dominant economic activity of the world’s poor. One Acre Fund makes that activity significantly more productive. They are growing as fast as possible to capture an incredible opportunity.

For the fiscal year ended December 31, 2015, One Acre Fund's program expenses were:

  
Salaries and Wages 12,137,030
Cost of Goods Sold- Core Seed and Fertilizer Distributed 11,406,954
Cost of Goods Sold- Farm Products Sold to 3rd Parties 5,509,889
Travel and Field Staff Transport 5,050,049
Cost of Goods Sold-Core Solar Lights Distributed 3,342,231
Payroll Taxes 1,848,044
Supplies 1,474,119
Farming Transportation 1,366,649
Cost of Goods Sold-Core Other Products Distributed 1,313,954
Casual Labor 1,271,571
Employee Benefits 1,232,909
Recruiting and Training 940,467
Printing and Publications 874,587
Professional and Consultancy Fees 728,930
Airtime 722,632
Insurance 713,899
Rent 708,556
Distribution Supplies and Trial Purchases 631,050
Security 624,821
Farming Warehouse Costs 606,728
Bad Debts 488,051
Depreciation 400,170
Client Incentives 350,330
Interest 346,329
Utilities & Maintenance 276,011
Bank Fees 263,331
Retention Incentives 253,000
Marketing and Promotions 101,479
Postage and Shipping 35,878
Total Program Expenses: $55,019,648
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Governance

              

Chief Executive : Andrew Youn, Executive Director
Compensation*: 
$85,000

Highest Paid Executive: Matthew Forti,US Operations Director
Compensation*: $161,750

Chair of the Board: Joel Ackerman
Chair's Profession / Business Affiliation: CEO

Board Size: 7

Paid Staff Size: 4000

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

direct mail, invitations to fund raising events, grant proposals, internet, planned giving arrangements
Fund raising costs were 4% of related contributions. (Related contributions, which totaled $42,289,437, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on One Acre Fund's audited financial statements - consolidated for the fiscal year ended December 31, 2015.

Source of Funds  
Grants and Donations 35,077,116
Core Program Revenue 23,092,007
Farm Product Sales to 3rd Parties 6,876,501
Donated Investments 4,580,772
Special Events 2,507,689
Donated Services 123,860
Interest 44,907
Gain on Disposition of Fixed Assets 13,671
Miscellaneous 13,330
Realized Gain Sale of Investments 26
Loss on Direct Inventory Sales -109,818
Loss on Weather Based Crop Insurance -738,066
Total Income $71,481,995


chart



Uses of Funds as a % of Total Expenses

Programs: 93%  Fund Raising: 3%  Administrative: 4% 

Total income $71,481,995
Program expenses $55,019,648
Fund raising expenses 1,654,397
Administrative expenses 2,521,502
Total expenses $59,195,547
Income in Excess of Expenses 12,286,448
Beginning net assets 22,812,735
Other Changes in Net Assets (443,697)
Ending net assets 34,655,486
Total liabilities 16,773,463
Total assets $51,428,949


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

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