BRAC USA, Inc., an independent nonprofit organization, was registered as a charity in New York State on October 23, 2006 and received IRS 501 (c) (3) tax exempt status on July 12, 2007. Our EIN number is: 20-8456741.
Financial Reports
Below you will find links allowing for access to both our Annual Report and the IRS Form 990. As a charitable corporation, exempt from income tax, we are required to file the form 990 with the Federal Government and the financial information is presented in accordance with IRS regulations.
BRAC USA is accredited by the BBB.
For more information, please call 212-808-5615.
BRAC uses every dollar efficiently
A naturally thrifty organization, we keep our overhead low – always less than 7 percent – to make as much money available to programs. With a modestly-compensated staff that lives in simple accommodations close to the people they serve, BRAC uses every dollar efficiently. When we enter a community we do so with the idea of impacting the largest possible number of people with the support and services that they need most. Having honed our skills over three decades, we know how to start small and how to rapidly scale up effective anti-poverty efforts.
The growth of BRAC in Bangladesh over the past three decades is reflected in our solid financial performance. Our annual program expenditures in 1980 was USD $780,000 and grew to USD $485 million in 2007. Underlying this staggering growth is our transformation from a small, local development organization to a global movement fighting to end poverty.
Financing BRAC’s international programs
Internationally, BRAC has built a solid financial base in Bangladesh growing from a tiny start-up into the largest development organization in the country. In 1980, programs in Bangladesh were funded exclusively with donor funds; however, though the years we have steadily reduced our dependence on donor contributions through growing our microfinance and developing social enterprises which have not only created employment for many poor people, but have also enabled us to generate income for our programs. Similarly, when we first launched our programs in Afghanistan in 2002, we again found ourselves in a start-up mode, self-financing our budget in the first year. As we began to demonstrate success, we received donor funds to scale-up our programs. As in Bangladesh, we have begun building a path to financial self-sustainability and as of 2007, 40% of annual expenditures were self-financed.
How is BRAC funding its programs in Africa?
2006 marked the start of our programs in Africa. In extending our reach to Africa, we must rely on private donors as donor governments make grants in Africa directly to national governments rather than to organizations on the ground. Given that we are unable to access government grants on the scale needed for growing our programs in Africa, we need sustained philanthropic support to continue expanding and launching new programs while we work toward financial self sustainability in every country where we operate.
BRAC won the CGAP Financial Transparency Award in 2005 & 2006
BRAC’s commitment to accountability and transparency has been recognized by CGAP, an independent policy and research center dedicated to advancing financial access for the world’s poor.
