Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2010.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
57 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
7 people listed on the 990; $530K paid to officers and key staff.
Radha Rajkotia’s $232K as Chief Executive Officer is at the 84th percentile of top reported officer pay among 1168 $1–10M international nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Radha Rajkotia | $231,600 | $252,000 | $67,244 | — | — | — |
| Jennifer Holt | — | — | $110,895 | $213,657 | $213,657 | $160,783 |
| Frank Hamilton McNutt | $152,000 | $170,000 | $20,507 | — | — | — |
| Elizabeth Fairfield Brown | $146,139 | — | $153,705 | — | — | — |
| Trent Hoole | — | — | — | $142,708 | $142,708 | — |
| Ainsley F Butler | — | — | $142,500 | — | — | — |
| Ainsley Butler | — | — | — | $132,912 | $132,912 | — |
| Selen Ucak | — | — | — | — | — | $118,428 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Strengthens local economies by connecting small businesses to new opportunities and training entrepreneurs in developing countries.
Questions for Building Markets Ltd
Your first name shows with your question. Building Markets Ltd answers here, for everyone.
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In FY25, Building Markets strengthened local economies across Colombia, Iraq, Trkiye, and Myanmar by helping small businesses access new opportunities and thrive. A total of 1,093 small businesses joined our network, gaining visibility and access to buyers.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.7M | $820K |
| Land, buildings, equipmentLn 10c | $2K | $789 |
| Total assetsLn 16 | $2.0M | $881K |
| LiabilitiesLn 26 | $407K | $251K |
| Net assetsLn 32 | $1.6M | $630K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants and assistance to foreign recipientsLn 3 | $1K | $1K | ||
| Pay of current officers, directors and key staffLn 5 | $515K | $99K | $416K | $0 |
| Other salaries and wagesLn 7 | $972K | $871K | $102K | $0 |
| Pension plan contributionsLn 8 | $25K | $6K | $19K | $0 |
| Other employee benefitsLn 9 | $119K | $88K | $31K | $0 |
| Payroll taxesLn 10 | $237K | $197K | $40K | $0 |
| Legal feesLn 11b | $22K | $20K | $2K | $24 |
| Accounting feesLn 11c | $76K | $22K | $54K | $0 |
| Other fees for servicesLn 11g | $615K | $542K | $45K | $29K |
| Advertising and promotionLn 12 | $23K | $21K | $2K | $0 |
| Office expensesLn 13 | $46K | $39K | $5K | $2K |
| Information technologyLn 14 | $59K | $38K | $21K | $20 |
| OccupancyLn 16 | $159K | $41K | $118K | $0 |
| TravelLn 17 | $76K | $61K | $14K | $493 |
| Depreciation, depletion and amortizationLn 22 | $1K | $0 | $1K | $0 |
| InsuranceLn 23 | $4K | $0 | $4K | $0 |
| Other expenses (24a–d)Ln 24 | $23K | −$388K | $407K | $4K |
| All other expensesLn 24e | $63K | $61K | $2K | $14 |
| Total functional expensesLn 25 | $3.0M | $1.7M | $1.3M | $35K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $2.0M | $3.0M | −$1.0M | $630K | 990 PDF |
| FY2024 | $5.1M | $4.5M | $676K | $1.6M | 990 PDF |
| FY2023 | $4.1M | $4.1M | $4K | $311K | 990 PDF |
| FY2022 | $3.6M | $3.4M | $199K | $296K | 990 PDF |
| FY2021 | $3.2M | $3.1M | $66K | $97K | 990 PDF |
| FY2020 | $3.3M | $3.1M | $155K | $47K | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $1,996,628 revenue, 12 lines filed
Part VI · Governance 5 of 5 board members independent, no flags
Part VIII · Statement of revenue $1,996,628 across 5 lines filed
Part IX · Statement of functional expenses $3,035,787 across 18 lines filed
Part X · Balance sheet $881,075 assets, 15 lines filed
Part XI · Reconciliation of net assets $629,808 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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