Precision Development Inc
- Assets
- $6.5m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 27
- Location
- Newton, MA
- Founding
- 07/2016
- Data as of
- 12/2021
- EIN
- 81-0779400
Organization Overview
Precision Development Inc is located in Newton, MA. The organization was established in 2016. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2021, Precision Development Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Precision Development Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Precision Development Inc generated $7.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $7.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO SUPPORT SMALLHOLDER FARMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRECISION DEVELOPMENT(PXD) IS A NON-PROFIT ORGANIZATION WITH A MISSIONTO SUPPORT PEOPLE LIVING IN EXTREME POVERTY BY PROVIDING CUSTOMIZEDDIGITAL INFORMATION AND SERVICES THAT INCREASE PRODUCTIVITY,PROFITABILITY, AND ENVIRONMENTAL SUSTAINABILITY. WE ARE PIONEERING ANEW MODEL FOR DIGITAL DEVELOPMENT: REACHING SMALLHOLDER FARMERS ANDOTHER USERS WITH PERSONALIZED ADVICE THROUGH THEIR MOBILE PHONES. WECOLLABORATE WITH IN-COUNTRY PARTNERS, GOVERNMENTS, AND MULTILATERALINSTITUTIONS TO REACH USERS AT SCALE WITH MOBILE-BASED PERSONALIZEDADVICE, AND GATHER EVIDENCE OF ITS IMPACT.USING TWO-WAY COMMUNICATION AND INFORMATION AGGREGATION, WE OFFER OURUSERS VALUABLE AND PRACTICAL INFORMATION, CUSTOMIZED TO THEIR GEOGRAPHY, MARKET, AND CHARACTERISTICS. PXD INCORPORATES INSIGHTS FROMBEHAVIORAL ECONOMICS, HUMAN-CENTERED DESIGN, AND SOCIAL LEARNINGTHEORY, AND MAKES USE OF A/B TESTING AND DATA SCIENCE TO IDENTIFY WHATTYPES OF INFORMATION AND DELIVERY MECHANISMS WORK BEST FOR OUR USERS.PAD NOW HAS OPERATIONS IN INDIA, KENYA, PAKISTAN, RWANDA, ETHIOPIA,UGANDA, NIGERIA, ZAMBIA, AND BANGLADESH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heinrich Baumann Managing Director & Treasurer | OfficerTrustee | 32 | $249,487 |
Owen Barder Chief Executive Officer | Officer | 40 | $225,252 |
Tomoko Harigaya Chief Economist & Director Of Research | 40 | $142,581 | |
Jonathan Lehe Chief Strategist | 40 | $132,196 | |
Ilana Kessler Director Of Product | 40 | $130,846 | |
Brian Keefe Director Of Finance | 40 | $125,446 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Insource Services Inc Accounting, It And Hr Services | 12/30/19 | $128,428 |
J-pal South Asia Program Development | 12/30/19 | $256,496 |
Innovations For Poverty Action Program Development | 12/30/19 | $196,231 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,444,728 |
| Noncash contributions included in lines 1a–1f | $48 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,444,728 |
| Total Program Service Revenue | $290,082 |
| Investment income | $3,360 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,738,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $578,446 |
| Compensation of current officers, directors, key employees. | $159,009 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,154,755 |
| Pension plan accruals and contributions | $6,652 |
| Other employee benefits | $144,243 |
| Payroll taxes | $170,447 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,819 |
| Fees for services: Accounting | $40,008 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $683,907 |
| Advertising and promotion | $3,444 |
| Office expenses | $78,639 |
| Information technology | $285,004 |
| Royalties | $0 |
| Occupancy | $59,092 |
| Travel | $34,526 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,116 |
| Insurance | $8,146 |
| All other expenses | $13,566 |
| Total functional expenses | $7,198,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,997,452 |
| Savings and temporary cash investments | $1,800,584 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $455,780 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $140,941 |
| Net Land, buildings, and equipment | $17,941 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $125,324 |
| Total assets | $6,538,022 |
| Accounts payable and accrued expenses | $330,869 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $330,869 |
| Net assets without donor restrictions | $2,223,279 |
| Net assets with donor restrictions | $3,983,874 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,538,022 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Precision Development Inc has recieved totaling $2,513,836.
| Awarding Organization | Amount |
|---|---|
Wal-Mart Foundation Bentonville, AR PURPOSE: PEOPLE IN SUPPLY CHAINS | $1,500,000 |
Digital Green Foundation San Francisco, CA PURPOSE: DATA COLLECTION AND ANALYSIS, ADVISORY CONTENT DEVELOPMENT, DIGITAL ADVISORY DELIVERY CHANNEL STRENGTHENING, DAIRY SECTOR, ETHIOPIA. | $452,145 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: AGRICULTURAL DEVELOPMENT | $200,000 |
Horace W Goldsmith Foundation New York, NY PURPOSE: GENERAL OPERATIONS | $150,000 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: International Development | $100,000 |
Innovations For Poverty Action Washington, DC PURPOSE: USING MOBILE PHONE INNOVATIONS TO SUPPORT DISTANCE LEARNING AND THE RETURN TO SCHOOL IN KENYA | $51,868 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trustees Of Robert College Of Istanbul New York, NY | $10,685,892 | $20,101,446 |
American Community School At Beirut -Lebanon New York, NY | $38,176,805 | $18,283,695 |
Global Hunger Project New York, NY | $18,451,641 | $18,515,873 |
Buildon Inc Stamford, CT | $19,130,694 | $16,459,828 |
Womens World Banking Inc New York, NY | $45,990,561 | $24,725,214 |
Innovation Africa New York, NY | $6,054,720 | $16,340,258 |
Near East Foundation Syracuse, NY | $16,218,674 | $15,526,282 |
Amref Health Africa Inc New York, NY | $11,305,543 | $22,534,673 |
British Schools And Universities Foundation Inc New York, NY | $4,352,409 | $13,471,425 |
World Health Clinicians Incorporated Norwalk, CT | $8,440,847 | $12,408,390 |
Amit Children Inc New York, NY | $14,766,891 | $9,699,451 |
Sofia American Schools Inc New York, NY | $18,766,081 | $8,581,010 |