ARLINGTON, Va., Nov. 25, 2019 /PRNewswire/ -- As the holiday giving season approaches, a new charity ranking system can help donors interested in fighting global poverty find which nonprofits will achieve the most impact for the money.
In a new ranking released last week, the independent nonprofit ratings agency ImpactMatters named the global nonprofit TechnoServe the #1 charity in the category of reducing poverty. This rating is based on ImpactMatters' calculations of the impact and cost-effectiveness of over 1,000 nonprofits across different categories.
Founded over 50 years ago, TechnoServe specializes in a business approach to driving inclusive growth in the developing world, helping small-scale farmers and entrepreneurs achieve the skills and market connections to earn better incomes for the long term. The work that ImpactMatters assessed at TechnoServe results in income gains of over $30 per every dollar contributed by a donor.
This year's lists represent one of the most significant efforts to date to rank organizations by their actual effectiveness and efficiency.
"While TechnoServe has always conducted its own extremely rigorous measurement of its impact, the effort to assess cost-effectiveness across a group of similar nonprofits is critical for helping donors evaluate the impact of their contribution," said Kate Diaz, TechnoServe's Director of Impact. "Too often, charity evaluations can focus on metrics like overhead rates vs. program costs, which, while important, are not indicative of a nonprofit's effectiveness at actually changing lives and achieving its mission."
In order to scale its impact and cost-effectiveness even further, TechnoServe this year launched TechnoServe Labs in Silicon Valley. This initiative combines TechnoServe's on-the-ground presence and understanding with the expertise of top technology companies to develop solutions that can improve the lives of millions more people across the developing world.
"Our team around the globe works hard to ensure that every dollar we receive from a donor helps to create lasting, transformational change for women and men in the developing world," said William Warshauer, president and CEO of TechnoServe. "We are very proud to be recognized by ImpactMatters for the effectiveness and efficiency of our programs."
TechnoServe is a leader in harnessing the power of the private sector to help people lift themselves out of poverty. A nonprofit organization operating in 29 countries, we work with enterprising men and women in the developing world to build competitive farms, businesses, and industries. By linking people to information, capital, and markets, we have helped millions to create lasting prosperity for their families and communities. With over 50 years of proven results, TechnoServe believes in the power of private enterprise to transform lives.
Press release distributed by PRLog