2025-11-12T18:13:53-06:00 2024-12-31 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2024-01-01 134166228 ACUMEN FUND INC ACUM 2125668821 40 WORTH STREET 303 NEW YORK NY 10013 HANNAH TOFILSKA CHIEF FINANCIAL OFFICER 2125668821 2025-11-12 1 0 KAREN LO P01434915 6179129000 2024 2025-03-06 01:10:19Z JACQUELINE NOVOGRATZ 40 WORTH STREET 303 NEW YORK NY 10013 50066111 0 X WWW.ACUMEN.ORG X 2001 NY ACUMEN'S MISSION IS TO CHANGE THE WAY THE WORLD TACKLES POVERTY BY INVESTING IN COMPANIES, LEADERS AND IDEAS.ACUMEN IS A GLOBAL FORCE OF ENTREPRENEURS, INVESTORS, PHILANTHROPISTS, AND SOCIAL INNOVATORS WORKING TOGETHER TO BUILD A WORLD BASED ON DIGNITY. WE WERE FOUNDED BY JACQUELINE NOVOGRATZ ON THE RADICAL IDEA THAT BUSINESS, WHEN CULTIVATED WITH MORAL IMAGINATION, CAN BREAK THE CYCLE OF POVERTY. WE INVEST IN TRANSFORMATIONAL COMPANIES, BUILD SUSTAINABLE MARKETS, AND PREPARE LEADERS WITH THE TOOLS THEY NEED TO CREATE A MORE JUST AND INCLUSIVE FUTURE. SINCE 2001, WE HAVE SCALED COMPANIES AND SHAPED MARKETS IN SOME OF THE HARDEST-TO-REACH COMMUNITIES ON THE PLANET, IMPACTING OVER HALF-A-BILLION LIVES. 12 11 140 12 0 0 50322993 44103444 1172013 1505410 1207116 272607 506626 506252 53208748 46387713 2988413 4469354 0 0 15528716 16549035 118863 72200 3713960 11578327 13137778 30214319 34228367 22994429 12159346 210817310 217512001 14566571 13420650 196250739 204091351 X SEE SCHEDULE O 0 0 17807016 3440171 1304878 INVESTING AND PORTFOLIO MANAGEMENT:WE INVEST ACROSS THE CAPITAL CONTINUUM TO HELP TRANSFORMATIONAL COMPANIES GROW FROM SEED TO SCALE. ACUMEN INVESTS PATIENT CAPITAL IN BUSINESS MODELS THAT DELIVER CRITICAL, AFFORDABLE GOODS AND SERVICES TO THE WORLD'S POOR, IMPROVING THE LIVES OF MILLIONS. SINCE 2001, ACUMEN HAS INVESTED IN BUSINESSES THAT PROVIDE ACCESS TO HEALTHCARE, ENERGY, EDUCATION, WATER & SANITATION, HOUSING, FINANCIAL SERVICES, AND AGRICULTURAL SERVICES TO LOW-INCOME CUSTOMERS. OUR INVESTMENTS ARE ADDRESSING THE PROBLEMS OF POVERTY IN EAST AND WEST AFRICA, SOUTH ASIA, LATIN AMERICA, AND THE UNITED STATES. [SEE CONTINUATION ON SCHEDULE O]ACUMEN MADE 32 NEW AND FOLLOW-ON INVESTMENTS IN 2024, REACHING A CUMULATIVE $185 MILLION INVESTED IN 201 BUSINESSES SERVING PEOPLE LIVING IN POVERTY. WE ALSO POOL CAPITAL TO SCALE STRATEGIC SOLUTIONS TO PROBLEMS OF POVERTY IN SPECIFIC SECTORS AND GEOGRAPHIES, USING BLENDED FINANCE. OUR FOUR SPONSORED FUNDS, CURRENTLY MANAGED UNDER ACUMEN CAPITAL PARTNERS INCLUDE: KAWISAFI ($67M AUM), FOCUSES ON CLEAN ENERGY AND CLIMATE MITIGATION IN EAST AFRICA; ACUMEN RESILIENT AGRICULTURE FUND ($58M AUM), FOCUSES ON CLIMATE RESILIENCE FOR SMALLHOLDER FARMERS IN EAST AND WEST AFRICA; AND ACUMEN LATIN AMERICA EARLY GROWTH FUNDS I AND II ($73M AUM), MANAGED BY ACUMEN LATAM IMPACT VENTURES, A TEAM OWNED MANAGER, FOCUSED ON ENERGY ACCESS, WORKFORCE, AGRICULTURE, AND TECH. 4455318 750 76382 INSIGHTS & IMPACT:THE GOAL OF THE INSIGHTS AND IMPACT TEAMS AT ACUMEN IS TO SUPPORT THE MISSION OF SOLVING PROBLEMS POVERTY THROUGH DATA-DRIVEN STRATEGIES. WE DO THIS BY BUILDING MODELS, SHARING THE INSIGHTS FROM OUR WORK AND HOLDING OURSELVES AND OUR PEERS ACCOUNTABLE. OUR IMPACT MEASUREMENT AND MANAGEMENT FRAMEWORK HELPS US DEFINE AND MEASURE OUR IMPACT, INCLUDING BREADTH AND DEPTH OF IMPACT. THROUGH 2024, ACUMEN HAS REACHED OVER 719 MILLION LIVES IMPACTED THROUGH OUR PATIENT CAPITAL AND FOR-PROFIT INVESTMENTS. 4239334 1028433 124150 FELLOWS & LEADERSHIP PROGRAMS:WE PREPARE LEADERS WITH THE TOOLS, CAPITAL AND COMMUNITY THEY NEED TO BUILD SCALABLE SOLUTIONS TO POVERTY. OUR RECENTLY LAUNCHED-LEARNING ENGAGEMENT PLATFORM OFFERS A FULL-SERVICE SPACE FOR ENTREPRENEURS AND FELLOWS TO ENGAGE WITH EACH OTHER. ACUMEN ACADEMY'S HAS GROWN TO MORE THAN 1800 FELLOWS, HAS AWARDED 99 EARLY-STAGE GRANTS TO FOUNDRY MEMBERS AND FACILITATED OVER 1.3 MILLION ONLINE COURSE SIGN-UPS. THROUGH ACADEMY ORGANIZATIONS AND COMPANIES, WE HAVE REACHED 71 MILLION LIVES IMPACTED. 26501668 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 1 1 1 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 X 49 0 1 140 1 0 1 CA UK MP IN PK CO KE NI 0 0 0 0 0 0 0 0 0 0 X 12 11 0 1 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA DC FL IL MD MA MN NJ NV NY OR PA TX WA X X X HANNAH TOFILSKA CHIEF FINANCIAL OFFICER 2125668821 40 WORTH STREET 303 NEW YORK NY 10013 JACQUELINE NOVOGRATZ CEO & DIRECTOR 39.50 0.50 X X 393218 0 39295 MARGO ALEXANDER DIRECTOR (THRU 3/31/24) 1.00 0.00 X 0 0 0 KATHLEEN CHEW WAI LIN DIRECTOR 1.00 0.00 X 0 0 0 MATTHEW COUREY DIRECTOR 1.00 0.00 X 0 0 0 C HUNTER BOLL DIRECTOR (THRU 3/31/24) 1.00 0.00 X 0 0 0 NATE LAURELL DIRECTOR 1.00 0.00 X 0 0 0 CRISTINA LJUNGBERG DIRECTOR 1.00 0.00 X 0 0 0 KIRSTEN NEVILL-MANNING DIRECTOR 1.00 0.00 X 0 0 0 KAREN PATERSON DIRECTOR 1.00 0.00 X 0 0 0 THULASIRAJ RAVILLA DIRECTOR 1.00 0.00 X 0 0 0 ANDREA SOROS COLOMBEL DIRECTOR 1.00 0.00 X 0 0 0 HANS TAPARIA DIRECTOR 1.00 0.00 X 0 0 0 JUAN CARLOS MORA URIBE DIRECTOR (FROM 10/2/24) 1.00 0.00 X 0 0 0 NATE LAURELL BOARD CHAIR (FROM 4/1/24) 1.00 0.00 X X 0 0 0 SHAIZA RIZAVI BOARD CHAIR (THRU 03/31/24) 1.00 0.00 X X 0 0 0 CARLYLE SINGER JONES PRESIDENT 39.50 0.50 X 352317 0 21861 LYNN ROLAND BOARD SECRETARY/GENERAL COUNSEL 35.00 5.00 X 284047 0 52621 JACQUELINE WOO CFO (THRU 8/9/24) 39.50 0.50 X 194146 0 33858 YASMINA ZAIDMAN CHIEF OF DEVELOPMENT & PARTNERSHIPS 40.00 0.00 X 282481 0 51689 CATHERINE C NANDA DIRECTOR, ACUMEN AMERICA 0.00 40.00 X 251547 0 35950 KATHERINE PARKER CHIEF OF ACADEMY 40.00 0.00 X 269689 0 8740 JIWOO CHOI CHIEF OF STRATEGIC INITIATIVES 40.00 0.00 X 247230 0 21413 AMON ANDERSON DIRECTOR, ACUMEN AMERICA 0.00 40.00 X 219801 0 35155 AMRITA BHANDARI CHIEF OF INSIGHTS & STRATEGY 40.00 0.00 X 293177 0 9265 JULES SAMAIN MANAGING DIRECTOR, H2R 40.00 0.00 X 231150 0 8877 ALEXANDRA GORDON CHIEF OF COMMUNICATIONS 40.00 0.00 X 207385 0 4603 SANDRA HALILOVIC DIRECTOR OF INVESTMENTS, H2R 40.00 0.00 X 201000 0 470 SARAH BIEBER DIRECTOR, DEVELOPMENT & PARTNERSHIPS 40.00 0.00 X 197333 0 6390 3624521 0 330187 38 0 1 0 60 DECIBELS INC 205 E 42ND STREET 20TH FL NEW YORK NY 10018 IMPACT MEASUREMENT 508512 DLIGHT DESIGN INC 2100 GENG ROAD ST PALO ALTO CA 94303 SOLAR ENERGY AND ULTRA-EFFI. PRODUCTS 329000 RSM US LLP 30 S WACKER DRIVE SUITE 3300 CHICAGO IL 60606 ACCOUNTING SERVICES 284660 41 BRIDGE PARTNERS LLC 27 UNION SQUARE WEST SUITE 502 NEW YORK NY 10003 RECRUITING 237984 ANNA MARIE EVENTS INC 2932 BAKER STREET SAN FRANCISCO CA 94123 EVENT PLANNING 237500 18 3669500 40433944 113780 44103444 PGM RELATED LOAN INCOM 900099 1157021 1157021 PROGRAM FEES 900099 348389 348389 1505410 1865761 1865761 2085244 3678398 -1593154 -1593154 -1593154 REIMBURSEMENT/OTHER 900099 478752 478752 PORTFOLIO DILIGENCE FE 900099 27500 27500 506252 46387713 1505410 0 778859 X 866446 866446 3602908 3602908 2795057 2274075 176815 344167 508512 508512 11181505 7012904 2072890 2095711 294742 146018 78520 70204 650680 314361 181985 154334 1118539 615778 257170 245591 126237 73764 28534 23939 476103 438520 32423 5160 161167 89957 47294 23916 72200 72200 4489056 3963141 403798 122117 137988 125321 12239 428 162672 85956 43654 33062 1039181 564270 346659 128252 840585 530328 152944 157313 687311 483164 67086 137061 462509 359140 41854 61515 438 438 53198 47979 2929 2290 101869 36539 43684 21646 INTERCOMPANY PROGRAM SE 3076804 3076804 PROV FOR PORTFOLIO LOSS 1227529 1227529 CORPORATE TAXES/OTHER 85125 50104 20299 14722 MISCELLANEOUS 10006 8150 1524 332 34228367 26501668 4012739 3713960 40038 7705887 82695708 72476915 21305972 20327791 3124194 4592117 1217011 1217011 416451 470019 487298 447859 84214 39439 633740 642240 95429016 104907539 5870966 5133043 210817310 217512001 3245349 3176946 226509 11094713 10243704 14566571 13420650 X 128942100 147470259 67308639 56621092 196250739 204091351 210817310 217512001 X 12159346 -22018 -4296716 X 0 1 X 1 0 X 24665203 28704639 59141180 50322993 44103444 206937459 24665203 28704639 59141180 50322993 44103444 206937459 42321085 164616374 216162 64783 361136 1476941 1865761 3984783 29290 29290 833789 280350 337394 506626 506252 2464411 213415943 9494204 0.77130 0.74160 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER FEES/INCOME - 2022 AMOUNT: $ 78,100. REIMBURSEMENT/OTHER - 2020 AMOUNT: $ 8,096. 2021 AMOUNT: $ 280,350. 2022 AMOUNT: $ 236,294. 2023 AMOUNT: $ 500,626. 2024 AMOUNT: $ 478,752. DEVELOPMENT COST REIMBURSEMENT - 2020 AMOUNT: $ 825,693. DILIGENCE COST REIMBURSEMENT - 2022 AMOUNT: $ 23,000. 2023 AMOUNT: $ 6,000. 2024 AMOUNT: $ 27,500. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37196 33815 3381 119954 116658 3296 330148 297386 32762 39439 PROGRAM RELATED PARTNERSHIP INVESTMENTS - SUB-SAHARAN AFRICA 16575241 C PROGRAM RELATED PARTNERSHIP INVESTMENTS - NORTH AMERICA 3778827 C PROGRAM RELATED EQUITY INVESTMENTS - SUB-SAHARAN AFRICA 11335959 C PROGRAM RELATED EQUITY INVESTMENTS - S.ASIA 15080354 C PROGRAM RELATED EQUITY INVESTMENTS - NORTH AMERICA 30224132 C PROGRAM RELATED EQUITY INVESTMENTS - LATIN AMERICA 3968399 C PROGRAM RELATED EQUITY INVESTMENTS - CENTRAL AMERICA AND THE CARIBBEAN 343351 C PROGRAM RELATED EQUITY INVESTMENTS - EUROPE 2107146 C PROGRAM RELATED DEBT INVESTMENTS - SUB-SAHARAN AFRICA 5174471 C PROGRAM RELATED DEBT INVESTMENTS - S.ASIA 1491052 C PROGRAM RELATED DEBT INVESTMENTS - NORTH AMERICA 6047034 C PROGRAM RELATED DEBT INVESTMENTS - LATIN AMERICA 2389544 C PROGRAM RELATED DEBT INVESTMENTS - CENTRAL AMERICA AND THE CARIBBEAN 34744 C PROGRAM RELATED DEBT INVESTMENTS - EUROPE 6316170 C PROGRAM RELATED FOREIGN CURRENCY SWAP - NORTH AMERICA 41115 C 104907539 RETURNABLE GRANT CAPITAL 5819399 LEASE LIABILITY 4424305 10243704 X PART X, LINE 2: ACUMEN IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS TAX-EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. INCOME EARNED IN FURTHERANCE OF THESE ENTITIES' TAX-EXEMPT PURPOSES IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. AS SUCH, NO PROVISION FOR INCOME TAX EXPENSE HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. ACUMEN HAS ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT ASSESSED WHETHER THERE WERE ANY UNCERTAIN TAX POSITIONS WHICH MAY GIVE RISE TO INCOME TAX LIABILITIES AND DETERMINED THAT THERE WERE NO SUCH MATTERS REQUIRING RECOGNITION IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. GENERALLY, ACUMEN IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THREE YEARS FROM THE FILING DATE OF THE RESPECTIVE RETURNS. 0 SOUTH ASIA 2 28 PROGRAM SERVICES PORTFOLIO MGMT, LEADERSHIP, IMPACT & COMMS 1125764 SUB-SAHARAN AFRICA 2 39 PROGRAM SERVICES PORTFOLIO MGMT, LEADERSHIP, IMPACT & COMMS 3343040 EUROPE 1 27 PROGRAM SERVICES PORTFOLIO MGMT, LEADERSHIP, IMPACT & COMMS 3933038 LATIN AMERICA 1 27 PROGRAM SERVICES PORTFOLIO MGMT, LEADERSHIP, IMPACT & COMMS 1512252 NORTH AMERICA 0 3 PROGRAM SERVICES LEADERSHIP PROGRAM 357424 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM RELATED INVESTMENT 378095 NORTH AMERICA PROGRAM RELATED INVESTMENT 3319942 SUB-SAHARAN AFRICA PROGRAM RELATED INVESTMENT 33085671 SOUTH ASIA PROGRAM RELATED INVESTMENT 16571406 LATIN AMERICA PROGRAM RELATED INVESTMENT 6357943 EUROPE PROGRAM RELATED INVESTMENT 8423316 SOUTH ASIA GRANT MAKING TA GRANTS 932950 SUB-SAHARAN AFRICA GRANT MAKING TA GRANTS 2257071 LATIN AMERICA GRANT MAKING TA GRANTS 185387 EUROPE GRANT MAKING TA GRANTS 77500 EAST ASIA AND THE PACIFIC GRANT MAKING TA GRANTS 100000 NORTH AMERICA GRANT MAKING TA GRANTS 50000 6 124 0 0 6 124 47055226 34955573 82010799 SUB-SAHARAN AFRICA TECHNICAL ASSISTANCE FOR PORTFOLIO COMPANIES 980000 WIRE TRANSFER 0 SOUTH ASIA TO PROVIDE ENERGY SERVICES TO LOW-INCOME COMMUNITIES IN WEAKGRID AND OFF-GRID RURAL AREAS ACROSS AFRICA AND ASIA. 500000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO MANUFACTURE AND SELL AFFORDABLE, HIGH-QUALITY SOLAR LIGHTING SOLUTIONS (LANTERNS AND HOME SYSTEMS), COOKSTOVES, AND OTHER ELECTRONIC PRODUCTS TO OFF-GRID HOUSEHOLDS AND SMALL BUSINESSES IN UNDERSERVED LOW-INCOME COMMUNITIES. 329000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO SERVE LOW-INCOME PEOPLE AND BUSINESSES IN MALAWI WITH HIGHQUALITY AND AFFORDABLE SOLAR ENERGY ACCESS. 234019 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO WORK TO REDUCE POST-HARVEST LOSSES BY LINKING SMALL-HOLDER FARMERS TO URBAN MARKETS AND COMPANIES VIA AGTECH AND EXTENSION WORKERS. 69969 WIRE TRANSFER 0 SOUTH AMERICA TO REDUCE THE DISPARITY IN THE LABOR MARKET WHERE 77% OF COMPANIES FACE A TALENT SHORTAGE WHILE YOUNG AND DIVERSE CANDIDATES STRUGGLE TO CONNECT WITH JOB OPPORTUNITIES. 56487 WIRE TRANSFER 0 EUROPE ONLINE EDUCATIONAL VIDEOS 50000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO INCREASE THE EFFICIENCY AND PROFITABILITY OF SMALL AND MEDIUM-SCALE FARMERS BY GIVING THEM QUICK AND CONVENIENT ACCESS TO TECHNICAL ADVICE, THOUSANDS OF FARM INPUTS, AND CONVENIENT DELIVERY ACROSS MULTIPLE ACCESS POINTS. 50000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO TACKLE POSTHARVEST LOSSES FROM FARM TO MARKET BY CONSOLIDATING SMALLHOLDER FARMERS INTO PRODUCER GROUPS WITH ACCESS TO A BUNDLE OF PRODUCTS AND SERVICES THAT CREATE A SAFETY NET FOR FARMERS AND MARKET ACCESS 50000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO REDUCE THE POVERTY OF SMALLHOLDER FARMERS IN UGANDA BY INCREASING THEIR YIELDS AND INCOMES AND TO EXCEED CUSTOMER EXPECTATIONS IN PROCESSING BY CREATING, CONTROLLING, AND MONITORING THE QUALITY OF FINAL VALUE-ADDED PRODUCTS 50000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO PROVIDE SUSTAINABLE CLEAN ENERGY TO UNDERSERVED COMMUNITIES IN AFRICA 50000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO SUPPORT EMERGENCY HEALTHCARE PROVIDERS ACROSS KENYA TO SAVE LIVES BY STRENGTHENING THE EMERGENCY HEALTHCARE SYSTEM THROUGH CAPACITY BUILDING, KNOWLEDGE DEVELOPMENT, ADVOCACY, AND RESEARCH 50000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO UPSKILL AFRICA'S YOUTH WITH LIMITED ACCESS TO EDUCATION AND JOB OPPORTUNITIES IN THE CREATIVE INDUSTRIES TO EARN A LIVABLE WAGE THROUGH CONTENT PRODUCTION, PHOTOGRAPHY, AND VIDEOGRAPHY SERVICES 50000 WIRE TRANSFER 0 SOUTH ASIA TO PREVENT CHILD MALNUTRITION BY BUILDING THE CAPACITY OF INDIA'S ANGANWADI CHILD CARE CENTERS THROUGH TRAINING AND DIGITAL TOOLS 50000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO ERADICATE EXTREME POVERTY AMONG AFRICAN SMALLHOLDER FARMERS BY BUILDING AND DEPLOYING CLIMATE-SMART FARMING AND POST-HARVEST INFRASTRUCTURE. 50000 WIRE TRANSFER 0 SOUTH ASIA TO ENGAGE IN THE BUSINESS OF EMPOWERING EDUCATORS TO BUILD PROFICIENCY IN FOUNDATIONAL STEAM LITERACY AS A LIFE SKILL IN SCHOOL-GOING CHILDREN TO CULTIVATE THE MINDSET OF SCIENTIFIC TEMPERAMENT. 50000 WIRE TRANSFER 0 SOUTH AMERICA TO ENHANCE PEACE BUILDING IN COLOMBIA USING FASHION AS A TOOL FOR CHANGE. 50000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO BRIDGE THE NUTRITION GAP FOR CHILDREN IN UNDERSERVED COMMUNITIES BY PROVIDING HIGHQUALITY, AFFORDABLE FOOD PRODUCTS, THROUGH INNOVATIVE SOLUTIONS THAT NOT ONLY ENHANCE CHILDREN'S HEALTH BUT ALSO EMPOWER THE WOMEN WHO PLAY A PIVOTAL ROLE IN THEIR CARE 50000 WIRE TRANSFER 0 SOUTH ASIA TO ENGAGE IN THE BUSINESS OF ENDING POVERTY SUSTAINABLY AND INCLUSIVELY IN INDIA'S 100 POOREST DISTRICTS BY BUILDING AN ECOSYSTEM FOR ORGANIZATIONS, GOVERNMENTS, AND COMMUNITIES TO WORK COLLABORATIVELY TOWARDS SHARED GOALS. 50000 WIRE TRANSFER 0 SOUTH ASIA TO UPLIFT 10 MILLION HOUSEHOLDS IN INDIA FROM POVERTY TO SUSTAINABILITY, IN THE NEXT FIVE YEARS, THROUGH INTERVENTIONS IN FIVE PUBLIC POLICIES IN EDUCATION, LIVELIHOODS, AND HEALTH. 50000 WIRE TRANSFER 0 SOUTH ASIA TO EMPOWER UNDERPRIVILEGED WOMEN IN BANGLADESH BY PROVIDING THEM WITH SKILL-BASED TRAINING IN THE BEAUTY INDUSTRY, FINANCIAL INCLUSION, AND TECHNOLOGICAL SUPPORT TO FOSTER ENTREPRENEURSHIP AND GENDER EQUALITY. 50000 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC TO MAKE AFFORDABLE, NUTRITIOUS, AND DELICIOUS FOOD ACCESSIBLE TO ALL INCLUDING UNDERSERVED COMMUNITIES WHILE BREAKING THE CYCLE OF FOOD WASTE 50000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO PROVIDE INDIVIDUALS IN INDIGENOUS COMMUNITIES WITH HEALTH EDUCATION, SCREENING, AND CONSULTATIONS THAT PROMOTE EARLY DIAGNOSIS, TREATMENT OF DISEASES, AND LINKAGES TO AFFORDABLE HEALTH COVERAGE SCHEMES 50000 WIRE TRANSFER 0 SOUTH AMERICA TO PROMOTE DIGNIFIED EMPLOYMENT AND REGENERATIVE FARMING IN RURAL REGIONS WITH A HISTORY OF VIOLENCE AND MARGINALIZATION THROUGH THE DISTRIBUTION OF HEALTHY FOOD PRODUCTS GROWN THROUGH AGROFORESTRY MANAGEMENT. 50000 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC TO REDUCE GENDER INEQUALITIES BY DELIVERING A LEGALLY SANCTIONED, AGE-APPROPRIATE, COMPREHENSIVE SEXUALITY EDUCATION (CSE) PROGRAM TO EMPOWER 16 MILLION CHILDREN IN VIETNAM. 50000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO ACCELERATE THE TRANSITION TO A SUSTAINABLE, CLEAN ENERGY FUTURE BY PROVIDING AFFORDABLE AND ACCESSIBLE CLEAN ENERGY PRODUCTS TO UNDERSERVED COMMUNITIES. 40404 WIRE TRANSFER 0 SOUTH AMERICA TO PURSUE THE BUSINESS OF SELLING AND DELIVERING ORGANIC PRODUCE SOURCED FROM SMALLHOLDER FARMERS AND SUPPORT SUSTAINABLE AGRICULTURE THROUGH INNOVATIVE TECHNOLOGICAL SOLUTIONS. 40000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO BUILD AND OPERATE A SHEA NUT PROCESSING FACILITY FOR THE PROCESSING OF SHEA NUTS INTO EXPORT GRADE SHEA BUTTER. 30000 WIRE TRANSFER 0 SOUTH ASIA TO FACILITATE ACCESS TOCLEAN ENERGY DRIVEN TECHNOLOGY FOR PRODUCTIVE USE TO PEOPLE LIVING IN POVERTY IN INDIA, IN ORDER TO ENHANCE THEIR LIVELIHOODS AND CLIMATE RESILIENCE. 25365 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO CREATE INCOME FOR FARMERS AND REDUCE FOOD LOSS THROUGH THE PURCHASE AND PROCESSING OF FRUIT AND VEGETABLE PRODUCTS FOR SALE IN RETAIL MARKETS. 25000 WIRE TRANSFER 0 SOUTH AMERICA TO CONTRIBUTE TO THE SOCIOENVIRONMENTAL AND SOCIO-ECONOMIC PROGRESS OF SAN MARTIN REGION BY ENCOURAGING, PROMOTING, MANAGING, DEVELOPING, AND PROVIDING TOURISM SERVICES IN THE SUB-REGION 25000 WIRE TRANSFER 0 SOUTH ASIA TO CULTIVATE SUSTAINABLE LIVELIHOOD OPPORTUNITIES THROUGH ETHICAL BEEKEEPING USING NON-INTRUSIVE WILD HONEY HARVESTING. 25000 WIRE TRANSFER 0 SOUTH ASIA TO ENGAGE IN THE BUSINESS OF A WOMEN-DRIVEN FLEET OF ELECTRIC TWO AND THREE-WHEELERS OFFERING SAFE AND ZERO-EMISSION-RIDES FOR URBAN INDIA BY OPTIMIZING THE LAST-MILE LOGISTICS AND COMMUTE SERVICES LEADING TO DIGNIFIED LIVELIHOODS. 25000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO SOURCE COCONUTS FROM ORGANIC CERTIFIED SMALLHOLDER FARMERS AND PRODUCE HIGH QUALITY, HEALTHY PRODUCERS TO SUPPLY MARKETS IN AFRICA, THE USA, EUROPE AND THE MIDDLE EAST. 25000 WIRE TRANSFER 0 EUROPE TO UPLIFT FAMILIES THROUGH EDUCATIONAL EQUITY BY DRIVING INCLUSIVE PARENTAL ENGAGEMENT THROUGH PARTNERSHIPS WITH SCHOOLS 25000 WIRE TRANSFER 0 SOUTH ASIA TO ENGAGE IN THE BUSINESS OF PROVIDING TAILORED DIGITAL EDUCATION AND TEACHER TRAINING TO TRIBAL AND INDIGENOUS COMMUNITIES AIMED AT POSITIVELY TRANSFORMING THE LIVES OF MILLIONS OF TRIBAL STUDENTS AND BREAKING THE CYCLE OF POVERTY 25000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO SUSTAINABLY PRODUCE AND SUPPLY NATURAL HONEY FROM KENYA'S PRISTINE DRYLANDS USING MODERN BEEHIVES WHICH FOSTERS BIODIVERSITY CONSERVATION AND DECENT GREEN EMPLOYMENT IN RURAL AREA 25000 WIRE TRANSFER 0 SOUTH ASIA TO ENGAGE IN THE BUSINESS OF PROVIDING AFFORDABLE ACCESSIBLE STORAGE NAMED SABJIKOTHI TO SMALL MARGINAL FARMERS AND STREET HAWKERS THAT EXTENDS THE SHELF-LIFE OF FRUITS AND VEGETABLES 25000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO KICKSTART THE BETTERFOODBETTERLIFE PROJECT THAT WOULD ENABLE THE GRANT RECIPIENT TO OFFTAKE MORE PRODUCE FROM THE SMALLHOLDER FARMERS AND PROCESS AND PACKAGE THESE IN SACHETS AND POUCHES TO CATER TO THOSE AT THE BOTTOM OF THE PYRAMID 25000 WIRE TRANSFER 0 SOUTH ASIA TO ENGAGE IN THE BUSINESS OF DESIGNING SIMPLE, WOMEN-FRIENDLY AND ENERGY EFFICIENT AGRICULTURAL TOOLS CUSTOMIZED TO SUIT INDIAN FELD CONDITIONS FOR WEEDING, SECONDARY TILLAGE ACTIVITIES, PRE AND POST HARVEST ACTIVITIES. 25000 WIRE TRANSFER 0 SOUTH ASIA TO ENGAGE IN THE BUSINESS OF MAKING ELECTRIC REFRIGERATION SYSTEMS FOR COLD CHAIN LOGISTICS VEHICLES AND IN PROVIDING COLD CHAIN SERVICES. 25000 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO REDUCE POVERTY BY PROVIDING OFF-GRID SOLAR SYSTEMS AND ENERGY-EFFICIENT PRODUCTIVE USE OF ENERGY (PUE) EQUIPMENT TO MARKET BASED MICRO-BUSINESSES IN NIGERIA THROUGH AFFORDABLE LEASE-TO-OWN PAYMENT PLANS AND OUTRIGHT PAYMENTS. 13680 WIRE TRANSFER 0 SUB-SAHARAN AFRICA TO IMPROVE ACCESS TO AFFORDABLE QUALITY EDUCATION BY PROVIDING FINANCIAL AND NON-FINANCIAL SOLUTIONS TO AFFORDABLE PRIVATE SCHOOLS IN KENYA AND AFRICA 10000 WIRE TRANSFER 0 SOUTH AMERICA TO OFFER TRAVELERS' ACCESS TO NATURE DESTINATIONS THROUGH A TECHNOLOGICAL PLATFORM THAT CONNECTS LOCAL HOSTS WITH NATURE TRAVELERS. 8000 WIRE TRANSFER 0 SOUTH ASIA GAC INCLUSION GRANT FOR KOOLBOKS 7585 WIRE TRANSFER 0 SOUTH AMERICA TO PROVIDE A SOFTWARE AS A SERVICE ("SAAS") PLATFORM WHICH OPERATES AS A DIGITAL BRIDGE BETWEEN AGRICULTURAL PRODUCERS AND FINANCIAL INSTITUTIONS TO HELP SMALLHOLDER FARMERS ACCESS FINANCING 5900 WIRE TRANSFER 0 7 39 1 0 1 0 1 0 PART I, LINE 2: THE ORGANIZATION MAKES LARGE GRANTS TO ITS RELATED ENTITIES TO FUND THEIR OPERATIONS, THE ACTIVITIES OF WHICH ARE MONITORED BY THE ORGANIZATION. ACUMEN MONITORS THE ACTIVITY OF ITS RELATED ENTITIES BY ANALYZING EXPENDITURES AND COMPARING ACTUAL PERFORMANCE TO BUDGETED AMOUNTS, AND BY MAINTAINING DIRECT OVERSIGHT OF THE ACTIVITIES CONDUCTED AND EXPENDITURES INCURRED. OUR AFFILIATES IN COLOMBIA, PAKISTAN, INDIA, KENYA, AND NIGERIA HAVE INDEPENDENT AUDITS. IN ADDITION TO THE AUDIT, OUR CENTRAL OFFICE FINANCE DEPARTMENT IN NEW YORK HAS OVERSIGHT OF THE COUNTRY OFFICES' SPENDING. INVESTMENTS IN THIRD PARTIES ARE PRIMARILY DEBT OR EQUITY INVESTMENTS. OUTRIGHT GRANTS FOR USE BY A THIRD PARTY IS A PART OF PROGRAMMATIC SPEND, BUT GENERALLY NOT AS LARGE A COMPONENT COMPARED TO INVESTMENTS MADE. FOR ANY PROGRAM-RELATED INVESTMENTS, THE ORGANIZATION REQUIRES REGULAR SOCIAL IMPACT, FINANCIAL AND OPERATIONAL REPORTING, TYPICALLY MAINTAINS A VOTING OR OBSERVER SEAT ON THE INVESTEE COMPANY BOARD AND CONDUCTS AT LEAST ANNUAL REVIEWS OF THE PROGRESS OF THE PROGRAM. FOR ANY GRANTS TO THIRD PARTIES, A GRANT AGREEMENT IS DRAFTED OUTLINING THE SPECIFIC PURPOSE OF THE GRANT, TERMS AND CONDITIONS FOR THE USE OF GRANT MONEY. GRANT FUNDS ARE DISBURSED ONLY AFTER THE GRANTEES SIGN THE GRANT AGREEMENT. DEPENDING UPON THE AMOUNT AND TERM OF GRANT, THE GRANTEES ARE REQUIRED TO MAINTAIN DETAILED RECORDS OF THE USE OF THE GRANT AND PROVIDE PERIODIC REPORTS TO ACUMEN. THE PROGRAM STAFF WILL REVIEW THE GRANTEE REPORTS TO ENSURE COMPLIANCE. ACUMEN PROGRAM STAFF DILIGENTLY SCREENS THE PROSPECTIVE GRANTEES' TRACK RECORDS AND REPUTATIONS BEFORE AWARDING ANY GRANT, AND WHERE A NEW FUNDING RELATIONSHIP EXISTS, SCREENS GRANT RECIPIENTS AGAINST WATCH LISTS SUCH AS SANCTIONS, SPECIALLY DESIGNATED NATIONALS AND BLOCKED PERSONS, ANTI-CORRUPTION AND ANTI-MONEY LAUNDERING LISTS. THROUGHOUT THE GRANT TERM, THE PROGRAM STAFF INTERACTS WITH THE GRANTEE ORGANIZATION TO UNDERSTAND THE PROGRESS THE ORGANIZATION IS MAKING BY USE OF THE GRANT FUNDS. THEY ALSO REVIEW PERIODIC REPORTS SUBMITTED BY THE GRANTEE TO ENSURE PROPER UTILIZATION OF GRANT FUNDS BY THE GRANTEE. GRANT AGREEMENTS OFTEN REQUIRE THE RIGHT TO INSPECT AND AUDIT THE RECORDS OF THE GRANTEE REGARDING PROPER USE OF FUNDS. THE GRANT AGREEMENT SIGNED BY THE GRANTEE TYPICALLY STATES THAT ALL OR ANY PORTION OF GRANT FUNDS USED IN A MANNER OR PURPOSE OTHER THAN THOSE DESCRIBED IN THE GRANT AGREEMENT MUST BE RETURNED TO ACUMEN. PART I, LINE 3: PROGRAM-RELATED INVESTMENTS: THE ORGANIZATION HAS A COMPLEX FINANCIAL STRUCTURE THAT IS NOT EASILY SHOWN IN THE FORM 990. TO BETTER UNDERSTAND THE INFORMATION BEING PROVIDED, THE READER SHOULD APPROACH THE FINANCIAL STATEMENTS WITH TWO KEY PIECES OF INFORMATION IN MIND. FIRST, ACUMEN OPERATES PRIMARILY AS A TRADITIONAL NON-PROFIT IN THAT IT RECEIVES CONTRIBUTION REVENUE AND HAS ONGOING OPERATING EXPENSES FOR BOTH PROGRAM WORK AND ADMINISTRATIVE COSTS EACH YEAR. SECONDLY, AND UNLIKE ALMOST ALL OTHER CHARITIES, ACUMEN INVESTS A SUBSTANTIAL PORTION OF ITS ASSETS IN ENTREPRENEURIAL ORGANIZATIONS OPERATING DOMESTICALLY OR IN DEVELOPING COUNTRIES. IN SUM, THESE ACTIVITIES ARE SHOWN IN PARTS I AND II OF SCHEDULE F. THEY ARE ALSO INCLUDED ON FORM 990 PART X LINE 13, WHICH SHOWS THE ORGANIZATION'S TOTAL CUMULATIVE OUTSTANDING BALANCE OF PROGRAM-RELATED INVESTMENTS. ACUMEN PUTS ITS RESOURCES INTO THESE INVESTEE ORGANIZATIONS AS PROGRAMMATIC INVESTMENTS AND ATTEMPTS TO NURTURE THEM UNTIL THEY THRIVE (OR FAIL), PROVIDING MULTIPLE BENEFITS TO CUSTOMERS SERVED - TYPICALLY THE POOREST POPULATIONS WHO LIVE ON LESS THAN A FEW DOLLARS PER DAY. THE ACCOUNTING METHOD USED TO ACCOUNT FOR EXPENDITURES IS THE ACCRUAL METHOD. X X 1 SHANNON LOVGREN 1204 NORMAN AVENUE LAS VEGAS NV 89104 BUILDING A NEW COMMUNITY OF DONORS 0 0 38743 -38743 LAURI ROBBINS ERICSON TRANBRSVGEN 12 TYRESO SW 13542 BUILDING A NEW COMMUNITY OF DONORS 0 0 33457 -33457 72200 -72200 CA DC FL IL MD MA MN NJ NV NY OR PA TX WA 1 ACUMEN CAPITAL PARTNERS LLC 40 WORTH STREET SUITE 303 NEW YORK NY 10013 320450985 412278 0 TECHNICAL ASSISTANCE FOR PORTFOLIO COMPANIES REFUGEE INVESTMENT NETWORK INC 1401 K STREET NW SUITE 900 WASHINGTON DC 20005 844496089 501(C)(3) 333163 0 CONDUCT RESEARCH, EDUCATE AND ADVISE ON HOW TO BUILD AND IMPLEMENT DURABLE REFUGEE-LENS INVESTING (RLI) STRATEGIES WORLDWIDE KAIZEN HEALTH INC 33 N LASALLE STREET SUITE 1200 CHICAGO IL 60602 814644959 25000 0 TECHNICAL ASSISTANCE FOR PORTFOLIO COMPANIES STATEN ISLAND PERFORMING PROVIDER SYSTEM LLC ONE EDGEWATER PLAZA SUITE 700 STATEN ISLAND NY 10305 472544659 501(C)(3) 25000 0 TECHNICAL ASSISTANCE FOR PORTFOLIO COMPANIES CITY OF SAMARITANS PBC 1207 DELAWARE AVE 860 WILMINGTON DE 19806 475378332 25000 0 TECHNICAL ASSISTANCE FOR PORTFOLIO COMPANIES FREE FROM MARKET 420 NICHOLS RD KANSAS CITY MO 64112 862943988 10000 0 TECHNICAL ASSISTANCE FOR PORTFOLIO COMPANIES FARMBOX DIRECT INC 400 STUART ST PH2 BOSTON MA 02116 464673014 10000 0 TECHNICAL ASSISTANCE FOR PORTFOLIO COMPANIES RASA PUBLIC BENEFIT CORPORATION 180E 2100S SUITE 206 SOUTH SALT LAKE UT 84115 872992893 10000 0 TECHNICAL ASSISTANCE FOR PORTFOLIO COMPANIES ZERAKI INC 896 S STATE ST UNIT 466 DOVER DE 19901 880831056 10000 0 TA GRANT - TO ENABLE THE GRANT RECIPIENT TO IMPROVE PERSONALIZED LEARNING FOR STUDENTS USING ZERAKI LEARNING BY OPTIMIZING AI - VIA EA EDUCATION FACILITY 2 7 PART I, LINE 2: IN ALL CASES, THE ORGANIZATION HAS A THOROUGH UNDERSTANDING OF THE WORK BEING UNDERTAKEN AND A FAMILIARITY WITH THE GRANTEE UNDERTAKING THE WORK. FOLLOW UP MONITORING IS PERFORMED BY VERBAL CHECK-INS, PERIODIC PROGRESS REPORTS, AND FINAL WRITTEN GRANT PERFORMANCE REPORTS AT THE CONCLUSION OF THE GRANT PERIOD. X X X X 0 0 0 0 0 0 0 1 0 JACQUELINE NOVOGRATZ CEO & DIRECTOR 352968 0 40250 0 0 0 10350 0 28945 0 432513 0 0 0 CARLYLE SINGER JONES PRESIDENT 316697 0 35620 0 0 0 10350 0 11511 0 374178 0 0 0 LYNN ROLAND BOARD SECRETARY/GENERAL COUNSEL 252782 0 31265 0 0 0 8888 0 43733 0 336668 0 0 0 YASMINA ZAIDMAN CHIEF OF DEVELOPMENT & PARTNERSHIPS 253614 0 28867 0 0 0 8816 0 42873 0 334170 0 0 0 AMRITA BHANDARI CHIEF OF INSIGHTS & STRATEGY 265000 0 28177 0 0 0 8795 0 470 0 302442 0 0 0 CATHERINE C NANDA DIRECTOR, ACUMEN AMERICA 238047 0 13500 0 0 0 7905 0 28045 0 287497 0 0 0 KATHERINE PARKER CHIEF OF ACADEMY 240539 0 29150 0 0 0 8270 0 470 0 278429 0 0 0 JIWOO CHOI CHIEF OF STRATEGIC INITIATIVES 247230 0 0 0 0 0 0 0 21413 0 268643 0 0 0 AMON ANDERSON DIRECTOR, ACUMEN AMERICA 207801 0 12000 0 0 0 7110 0 28045 0 254956 0 0 0 JULES SAMAIN MANAGING DIRECTOR, H2R 231150 0 0 0 0 0 0 0 8877 0 240027 0 0 0 JACQUELINE WOO CFO (THRU 8/9/24) 167857 0 26289 0 0 0 6038 0 27820 0 228004 0 0 0 ALEXANDRA GORDON CHIEF OF COMMUNICATIONS 207385 0 0 0 0 0 4200 0 403 0 211988 0 0 0 SARAH BIEBER DIRECTOR, DEVELOPMENT & PARTNERSHIPS 173350 0 23983 0 0 0 5920 0 470 0 203723 0 0 0 SANDRA HALILOVIC DIRECTOR OF INVESTMENTS, H2R 201000 0 0 0 0 0 0 0 470 0 201470 0 0 0 PART I, LINE 7 ACUMEN OFFERS A DISCRETIONARY PERFORMANCE-BASED BONUS FOR ITS EMPLOYEES WITH GUIDELINES SET BY THE MANAGEMENT COMMITTEE AND AGREED BY THE BOARD. BONUSES ARE REFLECTIVE OF ORGANIZATIONAL AND INDIVIDUAL PERFORMANCE WHICH PROVIDES COLLECTIVE ACCOUNTABILITY (INCREASING BY LEVEL), FOSTERS INCREASED COLLABORATION AND PROBLEM-SOLVING. THE ORGANIZATIONAL COMPONENT OF THE BONUS IS RECOMMENDED BY THE MANAGEMENT COMMITTEE TO THE COMPENSATION COMMITTEE, BASED ON ACHIEVEMENT OF ANNUAL GOALS (WHICH ARE DETERMINED AT THE END OF THE PRIOR YEAR AND APPROVED BY THE BOARD), THEN REVIEWED BY THE COMPENSATION COMMITTEE AND ULTIMATELY APPROVED BY THE BOARD. EACH INDIVIDUAL'S SUPERVISOR DETERMINES THE INDIVIDUAL RATING BASED ON PERFORMANCE AGAINST INDIVIDUAL GOALS, AND THE DIRECTOR OF TALENT AND RESPECTIVE MANAGEMENT COMMITTEE MEMBER APPROVES THE RATINGS. BONUSES WERE TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS. X 6 113780 FMV 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF GIFTS IN PART I, COLUMN (B) OF SCHEDULE M. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: ACUMEN FUND IS SOLVING PROBLEMS OF POVERTY BY INVESTING IN COMPANIES, LEADERS AND IDEAS. WE INVEST PATIENT CAPITAL IN BUSINESSES THAT DELIVER CRITICAL, AFFORDABLE GOODS AND SERVICES TO PEOPLE LIVING IN POVERTY, IMPROVING THE LIVES OF MILLIONS IN SOUTH ASIA, EAST AND WEST AFRICA, LATIN AMERICA AND THE UNITED STATES. SINCE 2001, ACUMEN FUND HAS INVESTED $185 MILLION IN 201 SOCIAL ENTERPRISES WORKING IN RESILIENT AGRICULTURE, EDUCATION, ENERGY ACCESS FINANCIAL INCLUSION, HEALTH, HOUSING, WATER AND SANITATION, AND WORKFORCE DEVELOPMENT. THROUGH ACUMEN ACADEMY, WE PREPARE LEADERS WITH THE TOOLS, CAPITAL AND COMMUNITY THEY NEED TO BUILD SCALABLE SOLUTIONS TO POVERTY. OUR RECENTLY LAUNCHED-LEARNING ENGAGEMENT PLATFORM OFFERS A FULL-SERVICE SPACE FOR ENTREPRENEURS AND FELLOWS TO ENGAGE WITH EACH OTHER. ACUMEN ACADEMY'S HAS GROWN TO MORE THAN 1800 FELLOWS, HAS AWARDED 99 EARLY-STAGE GRANTS TO FOUNDRY MEMBERS AND FACILITATED OVER 1.3 MILLION ONLINE COURSE SIGN-UPS. THROUGH ACADEMY ORGANIZATIONS AND COMPANIES, WE HAVE REACHED 71 MILLION LIVES IMPACTED. FORM 990, PART V, LINE 2A: THE NUMBER OF EMPLOYEES REPORTED ON 2024 FORM W-3 IS 86. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION UTILIZES ADP TOTALSOURCE, A PROFESSIONAL EMPLOYER ORGANIZATION ("PEO"). AS A PROFESSIONAL EMPLOYER ORGANIZATION, TOTALSOURCE PROVIDES PROFESSIONAL EMPLOYER SERVICES TO ACUMEN FUND, INC. (ACUMEN). IN THE PEO RELATIONSHIP, TOTALSOURCE AND ACUMEN SHARE CERTAIN RESPONSIBILITIES AND ALLOCATE OTHER EMPLOYER RESPONSIBILITIES BETWEEN EACH OTHER. ACUMEN REMAINS AN EMPLOYER OF THE WORKSITE EMPLOYEES AND TOTALSOURCE IS A CO-EMPLOYER OF ACUMEN'S EMPLOYEES. ACUMEN HAS: - DIRECTION AND CONTROL OVER EMPLOYEES AS IS NECESSARY TO CONDUCT ITS BUSINESS, DISCHARGE ANY FIDUCIARY RESPONSIBILITY IT MAY HAVE, OR COMPLY WITH ANY APPLICABLE LICENSURE, REGULATORY OR STATUTORY REQUIREMENT OF ACUMEN. - CONTROL OVER THE DAY TO DAY JOB DUTIES OF EMPLOYEES AND OVER THE JOB SITES AT WHICH, OR FROM WHICH EMPLOYEES PERFORM SERVICES TOTALSOURCE RESERVES A RIGHT OF DIRECTION AND CONTROL OVER EMPLOYEES AS IS NECESSARY TO FULFILL ITS OBLIGATIONS AND PROVIDE ITS SERVICES UNDER AN AGREEMENT BETWEEN ACUMEN AND TOTALSOURCE. TOTALSOURCE AND ACUMEN HAVE A RIGHT TO HIRE, DISCIPLINE, AND TERMINATE EMPLOYEES AS TO EACH ONE'S EMPLOYMENT RELATIONSHIP WITH EMPLOYEES. THE TOTAL AMOUNT OF SERVICE FEE PAID TO ADP TOTALSOURCE FOR THE TAX YEAR ENDING 12/31/24 IS $73,157. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FINANCE STAFF MEMBERS PREPARE THE FORM 990 IN CONJUNCTION WITH THE ORGANIZATION'S EXTERNAL INDEPENDENT ACCOUNTANTS. SEVERAL SENIOR MANAGEMENT AND INTERNAL LEGAL STAFF MEMBERS REVIEW THE INFORMATION AND A DRAFT FORM 990 IS CIRCULATED ELECTRONICALLY BY E-MAIL TO THE BOARD OF DIRECTORS. AFTER SOLICITING THE BOARD'S FEEDBACK AND COMMENTS, THE FORM 990 IS E-FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY WHICH IS ANNUALLY MONITORED, REQUIRING ALL OF THE ORGANIZATION'S OR ITS AFFILIATES' BOARD MEMBERS, MEMBERS OF THE INVESTMENT COMMITTEE, OFFICERS, KEY EMPLOYEES, AND EACH OF THEIR RESPECTIVE RELATIVES TO DISCLOSE ANY FINANCIAL INTEREST THAT MAY BE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST TO THE GENERAL COUNSEL, SUBJECT TO REVIEW BY THE AUDIT & FINANCE COMMITTEE OF THE BOARD. SUCH DISCLOSURES INVOLVING A TRANSACTION OR ARRANGEMENT ARE REVIEWED BY THE GENERAL COUNSEL, WITH OVERSIGHT BY THE PRESIDENT, AND, IF OVER A CERTAIN THRESHOLD, REFERRED TO THE AUDIT & FINANCE COMMITTEE TO DETERMINE APPROPRIATE ACTION TO BE TAKEN TO ADDRESS THE CONFLICT OF INTEREST WITH RESPECT TO THE TRANSACTION OR ARRANGEMENT. THE INDIVIDUAL WITH THE POTENTIAL CONFLICT OF INTEREST IS REQUIRED TO DISCLOSE THE CONFLICT AND MAY BE REQUIRED TO RECUSE HIM/HERSELF FROM THE DISCUSSION AND NOT BE PRESENT DURING ANY DELIBERATION OR VOTE ON MATTERS WHERE HE/SHE HAS AN ACTUAL CONFLICT. A DISINTERESTED PERSON MAY BE APPOINTED TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND THE AUDIT & FINANCE COMMITTEE SHALL DETERMINE IF ACUMEN CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, AND IF NOT, IF THE TRANSACTION OR ARRANGEMENT IS IN ACUMEN'S BEST INTEREST FOR ITS OWN BENEFIT AND FAIR AND REASONABLE. ADDITIONALLY, THE ORGANIZATION REQUIRES ALL SUCH INDIVIDUALS TO PROMPTLY AND FULLY DISCLOSE ALL MATERIAL FACTS OF ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST THAT MAY EXIST AT THE TIME OF HIRE OR APPOINTMENT, AS APPLICABLE, AND AS THEY MAY ARISE WHILE THE INDIVIDUAL IS SERVING OR EMPLOYED IN SUCH CAPACITY BY THE ORGANIZATION. SUCH DISCLOSURES ARE REVIEWED BY THE GENERAL COUNSEL, WITH OVERSIGHT BY THE PRESIDENT AND/OR OTHER MEMBERS OF SENIOR MANAGEMENT, AND THE AUDIT & FINANCE COMMITTEE, WHERE APPROPRIATE, TO DETERMINE APPROPRIATE ACTION TO BE TAKEN, WHICH, IF ADVISABLE, MAY INCLUDE INFORMATION FIREWALLS, OVERSIGHT BY DISINTERESTED PERSONS AND/OR DISCOURAGEMENT OF THE ACTIVITY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION ANNUALLY REVIEWS COMPARABLE COMPENSATION DATA FOR ITS NON-PROFIT PEER GROUP AND SIMILAR ORGANIZATIONS IN THE FOR-PROFIT PRIVATE SECTOR. ACUMEN TALENT FOCUSES THE REVIEW ON 2-3 OFFICES AND ROTATES THE REVIEW EVERY YEAR. ACUMEN TALENT BENCHMARKS AGAINST THESE COMPARATIVE FIGURES WHEN SETTING COMPENSATION FOR ITS CHIEF EXECUTIVE OFFICER AND PRESIDENT. THE ORGANIZATION WILL ALSO CONSIDER JOB PERFORMANCE WHEN EVALUATING CEO COMPENSATION. THE COMPENSATION COMMITTEE RECOMMENDS AND THEN THE BOARD OF DIRECTORS DISCUSSES AND APPROVES, IN EXECUTIVE SESSION, THE COMPENSATION INFORMATION AND DETERMINES THE CEO AND PRESIDENT'S SALARIES AND BONUSES. THE COMPENSATION COMMITTEE IS COMPOSED SOLELY OF BOARD MEMBERS WHO DO NOT HAVE A CONFLICT OF INTEREST IN DETERMINING THE SALARY OF THE CEO. ANY BOARD MEMBERS WHO ARE CONFLICTED IN DETERMINING THE CEO'S COMPENSATION ARE RECUSED FROM THE PORTION OF THE MEETING WHERE THE CEO'S COMPENSATION IS DISCUSSED AND DETERMINED. MINUTES DOCUMENTING BOTH THE ACTIVITIES AND ACTIONS OF THE COMPENSATION COMMITTEE AND THE BOARD OF DIRECTORS, INCLUDING THE MATERIALS THEY USED IN EVALUATING COMPENSATION, ARE TAKEN AND RETAINED CONTEMPORANEOUSLY. THE CEO, IN CONSULTATION WITH THE PRESIDENT AND DIRECTOR OF TALENT, DETERMINES SALARIES OF THE OTHER MEMBERS OF SENIOR MANAGEMENT OF THE ORGANIZATION USING THE SAME PROCESSES AS DESCRIBED ABOVE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION POSTS ITS FORM 990 AND AUDITED FINANCIAL STATEMENTS ON ITS PUBLICLY ACCESSIBLE WEBSITE WWW.ACUMEN.ORG. CURRENT YEAR INFORMATION IS POSTED AS IT BECOMES AVAILABLE AND TWO PRIOR YEAR'S RESULTS ARE MAINTAINED ONLINE. THE ORGANIZATION ALSO PROVIDES ITS INFORMATION TO CHARITY NAVIGATOR AND GUIDESTAR.ORG. PUBLIC INFORMATION ABOUT ACUMEN IS AVAILABLE ON THE WEBSITE OF THE NYS ATTORNEY GENERAL CHARITIES BUREAU, AS WELL AS UPON REQUEST. THE FORM 1023 IS MADE AVAILABLE UPON REQUEST. THE GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON SPECIFIC REQUEST, AND A SUMMARY OF THE CONFLICT OF INTEREST POLICY IS AVAILABLE ON THE FORM 990. THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). IN ADDITION, THE FORM 990 WITHOUT SCHEDULE B IS AVAILABLE VIA A LINK ON OUR WEBSITE TO THE PROFILE ON GUIDESTAR. FORM 990, PART IX, LINE 11G CONFERENCE AND MEMBERSHIP FEES: PROGRAM SERVICE EXPENSES 223,408. MANAGEMENT AND GENERAL EXPENSES 8,183. FUNDRAISING EXPENSES 35,521. TOTAL EXPENSES 267,112. CONSULTANT: PROGRAM SERVICE EXPENSES 3,225,776. MANAGEMENT AND GENERAL EXPENSES 263,062. FUNDRAISING EXPENSES 82,475. TOTAL EXPENSES 3,571,313. TRAINING: PROGRAM SERVICE EXPENSES 10,438. MANAGEMENT AND GENERAL EXPENSES 10,915. FUNDRAISING EXPENSES 4,121. TOTAL EXPENSES 25,474. RECRUITING: PROGRAM SERVICE EXPENSES 206,730. MANAGEMENT AND GENERAL EXPENSES 121,638. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 328,368. CONTRACTORS: PROGRAM SERVICE EXPENSES 296,789. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 296,789. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST 54,221. FOREIGN CURRENCY TRANSLATION GAIN -2,175,584. CHANGE IN VALUE OF DEBT AND EQUITY SECURITIES -2,175,353. 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