2018-11-15T14:15:42-06:00 2017-12-31 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2017-01-01 134166228 ACUMEN FUND INC ACUM 2125668821 40 WORTH STREET NO 303 NEW YORK NY 10013 JACQUELINE WOO CHIEF FINANCIAL OFFICER 6467473958 2018-11-15 1 GARRETT M HIGGINS P00543209 2122862600 2018-11-15 4.15.211.182 2018-11-15 13:59:53 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 C5C0E2060BEB3F24671B5CC0358F632D6B4109AD 2017 2019-02-21 02:37:17Z JACQUELINE NOVOGRATZ 40 WORTH STREET NO 303 NEW YORK NY 10013 29904970 0 X WWW.ACUMEN.ORG X 2001 NY OUR MISSION IS TO CHANGE THE WAY THE WORLD TACKLES POVERTY BY INVESTING IN COMPANIES, LEADERS AND IDEAS.OUR VISION IS THAT ONE DAY EVERY HUMAN BEING WILL HAVE ACCESS TO THE CRITICAL GOODS AND SERVICES THEY NEED - INCLUDING AFFORDABLE HEALTH CARE, CLEAN ENERGY, EDUCATION, WATER & SANITATION, HOUSING, FINANCIAL SERVICES, AND AGRICULTURAL INPUTS - SO THEY HAVE THE CHOICE AND OPPORTUNITY TO TRANSFORM THEIR LIVES. THIS IS WHERE DIGNITY STARTS - NOT JUST FOR THE POOR BUT FOR EVERYONE ON EARTH. 13 12 65 16 0 0 29176704 27693548 1152170 1697425 -140554 146781 175453 105234 30363773 29642988 604271 872127 0 0 8959868 9568132 0 0 2280301 9880543 11496539 19444682 21936798 10919091 7706190 114223148 121695515 2071343 1899357 112151805 119796158 X ACUMEN FUND IS WORKING TO CHANGE THE WAY THE WORLD TACKLES POVERTY BY INVESTING IN COMPANIES, LEADERS AND IDEAS. WE INVEST PATIENT CAPITAL IN BUSINESSES THAT DELIVER CRITICAL, AFFORDABLE GOODS AND SERVICES TO THE POOR, IMPROVING THE LIVES OF MILLIONS IN SOUTH ASIA, EAST AND WEST AFRICA, LATIN AMERICA AND THE UNITED STATES. SINCE 2001, ACUMEN FUND HAS INVESTED $114 MILLION IN MORE THAN 100 SOCIAL ENTERPRISES WORKING IN SUCH SECTORS AS HEALTH, ENERGY, EDUCATION, WATER & SANITATION, HOUSING, FINANCIAL INCLUSION, AND AGRICULTURE.WE ALSO BUILD A GLOBAL COMMUNITY OF EMERGING LEADERS WHO BELIEVE IN CREATING A MORE INCLUSIVE WORLD THROUGH OUR ACUMEN FELLOWS PROGRAM AND ONLINE SCHOOL FOR SOCIAL CHANGE, +ACUMEN.THROUGH THESE EFFORTS, WE ARE WORKING TO SHARE OUR LESSONS AND CREATE SUSTAINABLE SOLUTIONS TO POVERTY. 0 0 11382256 248981 1774535 INVESTING AND PORTFOLIO MANAGEMENT: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 HEALTH CARE, 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. ACUMEN HAS CUMULATIVELY INVESTED $114 MILLION IN MORE THAN 100 BUSINESSES SERVING THE POOR. [SEE CONTINUATION ON SCHEDULE O]POST-INVESTMENT MANAGEMENT HAS CONTINUED TO BE A KEY PRIORITY FOR ACUMEN. IN THE FIRST QUARTER OF THIS YEAR, OUR TEAM CONDUCTED ANNUAL REVIEWS FOR ALL PORTFOLIO COMPANIES TO MEASURE ACTUAL PERFORMANCE AGAINST SOCIAL AND FINANCIAL IMPACT TARGETS AND DEVELOP DETAILED POST-INVESTMENT ENGAGEMENT AND MANAGEMENT PLANS OUTLINING THE SUPPORT AND INVOLVEMENT REQUIRED BY ACUMEN TO HELP THE COMPANIES GROW. ACUMEN HAS ALSO EXPANDED ITS WORK WITH CORPORATIONS TO LEVERAGE THEIR SKILLS AND EXPERIENCE TO SUPPORT OUR INVESTEE COMPANIES WITH TECHNICAL ASSISTANCE.ACUMEN ALSO HOSTED A LIVE SUMMIT FOR INVESTEES FOCUSING ON BUILDING STRATEGIC FINANCE CAPABILITIES WITHIN THEIR SENIOR MANAGEMENT TEAMS TO HELP THEM BETTER MANAGE FINANCES AND EXECUTE ON FUNDRAISING STRATEGIES. ACUMEN'S POST-INVESTMENT WORK THIS YEAR HAS ALSO DIRECTLY SUPPORTED COMPANIES THROUGH TECHNICAL ASSISTANCE GRANTS. THESE GRANTS SUPPORT INITIATIVES THAT DE-RISK THE ABILITY FOR OUR COMPANIES TO EXPERIMENT WITH NEW, INNOVATIVE PROJECTS AND PRODUCT DEVELOPMENT THAT CAN HAVE A HIGH IMPACT ON THE LOW-INCOME CONSUMER. ONE OF OUR BIGGEST DEVELOPMENTS IS THE PIONEER ENERGY INVESTMENT INITIATIVE, AN EFFORT TO BRIDGE THE FUNDING GAP IN OFF-GRID ENERGY AND CATALYZE THE UNDERINVESTED SECTOR TO ACCELERATE ENERGY ACCESS ACROSS THE DEVELOPING WORLD. THE AIM OF THE INITIATIVE, ANCHORED BY A $5 MILLION GRANT FROM THE IKEA FOUNDATION, IS TO IMPACT 8 MILLION PEOPLE THROUGH ACUMEN'S PORTFOLIO OF COMPANIES BY 2026. WITH THE INITIATIVE, ACUMEN WILL EXPAND ITS WORK IN ENERGY BY INVESTING IN THE SCALE-UP OF EARLY-STAGE BUSINESSES, FILLING GAPS IN THE VALUE CHAIN, AND SUPPORTING THE OFF-GRID ENERGY ECOSYSTEM. THE INVESTMENTS FOCUS ON NEW WAYS TO GENERATE AND DISTRIBUTE ENERGY TO HOMES, SMALL BUSINESSES, AND COMMUNITIES NOT CONNECTED TO THE CENTRAL ELECTRICAL GRID, SUCH AS HOME SYSTEMS, MINI-GRIDS AND INNOVATIVE PRODUCTS THAT USE SOLAR OR OTHER RENEWABLE SOURCES TO BRING POWER TO LOW-INCOME PEOPLE. 4863293 563146 IMPACT AND COMMUNICATIONSTHE GOAL OF THE IMPACT AND COMMUNICATIONS TEAMS AT ACUMEN IS TO SUPPORT THE MISSION OF CHANGING THE WAY THE WORLD TACKLES POVERTY BY SHARING THE INSIGHTS FROM OUR WORK, CATALYZING AN ENTREPRENEURIAL, MARKETS-BASED APPROACH OF SOLVING POVERTY, AND CHALLENGING THE PUBLIC'S PERCEPTIONS SO THEY SEE THE POTENTIAL LOW-INCOME PEOPLE HOLD IN TRANSFORMING THEIR OWN LIVES. ACUMEN'S IMPACT TEAM CONTINUES TO ADVANCE THE ORGANIZATION'S ROLE IN UNDERSTANDING AND MEASURING SOCIAL PERFORMANCE IN THE IMPACT INVESTING INDUSTRY. [SEE CONTINUATION ON SCHEDULE O]BUILDING UPON THE LAUNCH OF LEAN DATA MEASUREMENT SERVICES IN 2015, WE ARE PUSHING FORWARD TO MAKE IMPACT DATA EQUALLY AS RELEVANT AND FOUNDATIONAL AS FINANCIAL DATA, TO SUPERCHARGE OUR CAPACITY TO SOLVE THE WORLD'S TOUGHEST PROBLEMS. LEAN DATA SERVICES AIMS TO CLOSE THE GAP BETWEEN SOCIAL ENTERPRISES AND THEIR CUSTOMERS BY LEVERAGING TODAY'S TECHNOLOGY REVOLUTION. WE BELIEVE BY ASKING THE RIGHT QUESTIONS AND LISTENING TO THE POOR, OUR CAPACITY TO CONNECT AND AMPLIFY VOICES THAT HAVE PREVIOUSLY BEEN UNHEARD WILL SCALE UP MASSIVELY.USING OUR LEAN DATA METHOD, WE DID A DEEP DIVE INTO OUR ENERGY PORTFOLIO TO UNDERSTAND HOW OUR INVESTMENTS IN CLEAN ENERGY OVER THE LAST 10 YEARS ARE IMPACTING LOW-INCOME POPULATIONS. OVER THE LAST YEAR, WE SPOKE WITH MORE THAN 5,500 OF OUR LOW-INCOME CUSTOMERS ACROSS 11 COUNTRIES USING LEAN DATA TOOLS, OUR CUSTOMER-CENTRIC, TECHNOLOGY-BASED APPROACH TO IMPACT MEASUREMENT. THE INSIGHTS WE UNCOVERED, LEVERAGING THE VOICE OF THE CUSTOMER, HAVE HELPED IDENTIFY WHAT MATTERS MOST TO LONG UNDERSERVED POPULATIONS, ALLOWING US TO ESTABLISH IMPACT INDICATORS ALIGNED WITH THE ISSUES AND PRIORITIES IMPORTANT TO THEM. FROM THIS CUSTOMER DATA, WE HAVE CREATED PIONEERING BENCHMARKS THAT DISTINGUISH BETWEEN HIGH- AND LOW-IMPACT BUSINESS MODELS TO ENSURE OUR INVESTMENTS ARE AS IMPACTFUL AS POSSIBLE. WE PLAN TO PUBLISH THE RESULTS IN EARLY 2018 IN OUR FIRST-EVER ENERGY IMPACT REPORT.IN 2017, WE ALSO LAUNCHED OUR VERY FIRST PUBLIC-FACING CAMPAIGN, #SEEPEOPLE, ON THE INTERNATIONAL DAY TO ERADICATE POVERTY (OCTOBER 17) TO RAISE AWARENESS FOR ACUMEN. WE PARTNERED WITH RENOWNED PHOTOGRAPHER MARTIN SCHOELLER TO BRING VOICE AND VISIBILITY TO THE PEOPLE WE SERVE AROUND THE WORLD. THE CAMPAIGN SHOWCASED MORE THAN 50 PORTRAITS OF CUSTOMERS OF ACUMEN'S PORTFOLIO COMPANIES, WHO WERE MEN AND WOMEN LIVING ON UNDER $5 A DAY, ALONG WITH THEIR FIRST-PERSON STORIES. THROUGH THE POWER OF MARTIN SCHOELLER'S ICONIC, VISUALLY ARRESTING PORTRAITURE, THE #SEEPEOPLE CAMPAIGN AIMED TO CHALLENGE THE PUBLIC'S PERCEPTIONS, PUSH THEM TO SEE THE POOR AS PEOPLE AND ACKNOWLEDGE OUR SHARED HUMANITY. THE CAMPAIGN RAN FROM OCTOBER 17 UNTIL GIVING TUESDAY IN A NUMBER OF DIFFERENT ACTIVATIONS, INCLUDING A TWO-WEEK AD PLACEMENT IN TIMES SQUARE, A PHOTO EXHIBIT IN NYC, A MICROSITE, AND A BIG PUSH ACROSS ALL OF ACUMEN'S SOCIAL CHANNELS. THE CAMPAIGN, ALONG WITH ACUMEN'S WORK AND INVESTMENTS THROUGHOUT THE YEARS, WERE FEATURED IN TOP-TIER INTERNATIONAL MEDIA OUTLETS INCLUDING FAST COMPANY, THE FINANCIAL TIMES, FORBES, THE ECONOMIST, AND VARIOUS PUBLICATIONS IN PAKISTAN, AFRICA, INDIA AND LATIN AMERICA. OUR FOUNDER AND CEO JACQUELINE NOVOGRATZ WAS ALSO NAMED ONE OF FORBES' GREATEST LIVING BUSINESS MINDS. 1498345 60000 FELLOWS AND LEADERSHIP PROGRAMS AT THE END OF Q4 2017, WE REACHED A CUMULATIVE 442 FELLOWS, WHO TOOK PART IN ACUMEN'S LEADERSHIP PROGRAMS. IN MARCH 2017, WE HELD OUR FIRST FELLOWS GLOBAL GATHERING IN NAIVASHA, KENYA WHERE 326 FELLOWS AND SPECIAL GUESTS CAME TOGETHER FOR RENEWED CONNECTION, COLLABORATION, AND COMMITMENT. THE EVENT INCLUDED A SERIES OF WORKSHOPS, TALKS, AND INTERACTIVE ENGAGEMENTS FOR ALL PARTICIPANTS AND THE CONTENT WAS PRIMARILY FELLOWS-LED. [SEE CONTINUATION ON SCHEDULE O]THROUGH OUR PROGRAMS, WE CONTINUE TO CULTIVATE LEADERS ACROSS RACE, CLASS, ETHNICITY AND A MIX OF SOCIAL ENTREPRENEURS, INTRAPRENEURS, AND ORGANIZATION BUILDERS ADDRESSING PROBLEMS OF POVERTY IN THEIR LOCAL COMMUNITIES. WE HAVE ALSO CONTINUED TO SEE INCREDIBLE GROWTH OF +ACUMEN, OUR ONLINE LEARNING PLATFORM FOR PEOPLE LOOKING TO CREATE SOCIAL CHANGE, WHICH HAS BECOME THE LARGEST MASSIVE OPEN ONLINE COURSE PROVIDER IN THE SOCIAL SECTOR. AS OF Q4 2017, +ACUMEN'S ONLINE COURSES HAVE GROWN TO ROUGHLY 588,000 SIGN-UPS WITH COURSE-TAKERS COMING FROM 192 COUNTRIES. IN THE PAST YEAR, +ACUMEN OFFERED 19 FREE COURSES AND 12 MASTER CLASSES FEATURING EXPERTS LIKE TED'S CHRIS ANDERSON, RENOWNED AUTHOR ELIZABETH GILBERT, AND WHARTON PROFESSOR AND ACCLAIMED AUTHOR ADAM GRANT. OUR PARTNERSHIPS WITH CORPORATIONS AND ORGANIZATIONS LIKE AMERICAN EXPRESS, ACCION INTERNATIONAL, IDEO.ORG, GRAMEEN FOUNDATION AND FOSSIL FOUNDATION ARE HELPING US TO ADD TO OUR CURRICULUM AND SUPPORT OUR AIM TO ADVANCE THE WORK AND EDUCATION OF INDIVIDUALS INTERESTED IN CREATING CHANGE DOMESTICALLY AND INTERNATIONALLY. 17743894 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 0 1 1 1 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 X 41 0 65 1 0 1 GH IN KE PK CO CA UK 0 0 0 1 1 0 0 0 0 X 13 12 0 1 1 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA NY MA DC FL X X X JACQUELINE WOO CHIEF FINANCIAL OFFICER 6467473958 40 WORTH STREET NO 303 NEW YORK NY 10013 JACQUELINE NOVOGRATZ CEO & DIRECTOR 36.00 4.00 X X 331344 0 26741 DAVID HELLER BOARD CHAIR 1.00 X X 0 0 0 ROBERT H NIEHAUS BOARD CHAIR THRU APRIL 2017 1.00 X X 0 0 0 MARGO ALEXANDER DIRECTOR 1.00 X 0 0 0 C HUNTER BOLL DIRECTOR 1.00 X 0 0 0 ROBERT BOB COLLYMORE DIRECTOR 1.00 X 0 0 0 ANDREA SOROS COLOMBEL DIRECTOR 1.00 X 0 0 0 STUART DAVIDSON DIRECTOR 1.00 X 0 0 0 JULIUS GAUDIO DIRECTOR 1.00 X 0 0 0 NATE LAURELL DIRECTOR 1.00 X 0 0 0 WILLIAM E MAYER DIRECTOR THRU APRIL 2017 1.00 X 0 0 0 PAT MITCHELL DIRECTOR 1.00 X 0 0 0 KIRSTEN NEVILL-MANNING DIRECTOR 1.00 X 0 0 0 THULASIRAJ RAVILLA DIRECTOR 1.00 X 0 0 0 SHAIZA RIZAVI DIRECTOR 1.00 X 0 0 0 ALI J SIDDIQUI DIRECTOR THRU APRIL 2017 1.00 X 0 0 0 JOSEPH E STIGLITZ DIRECTOR THRU APRIL 2017 1.00 X 0 0 0 CARLYLE SINGER JONES PRESIDENT 39.50 0.50 X 269363 0 27327 SACHINDRA RUDRA CHIEF INVESTMENT OFFICER 29.00 11.00 X 250023 0 11319 ALEXANDER DICHTER CHIEF INNOVATION OFFICER 39.50 0.50 X 232324 0 35467 JACQUELINE WOO CHIEF FINANCIAL OFFICER 35.50 4.50 X 211013 0 33083 LYNN ROLAND BOARD SECRETARY/GENERAL COUNSEL 31.50 8.50 X 204490 0 6507 YASMINA ZAIDMAN CHIEF PARTNERSHIPS OFFICER 40.00 X 207715 0 6603 SABRINA N DUPRE GLOBAL HEAD OF BRAND STRATEGY 40.00 X 191333 0 32723 ALBERTO GOMEZ OBREGON DIRECTOR, PORTFOLIO 31.50 8.50 X 171254 0 23765 CATHERINE C NANDA ACUMEN AMERICA DIRECTOR 40.00 X 169402 0 29211 JO-ANN TAN LEAD ARCHITECT, +ACUMEN 40.00 X 153594 0 4980 AMON ANDERSON ACUMEN AMERICA DIRECTOR 40.00 X 131788 0 12661 BATOOL HASSAN DIRECTOR, LEADERSHIP 40.00 X 126505 0 4167 JOANNA OPOT HEAD OF BUSINESS DEV., WEST COAST 40.00 X 116368 0 29528 NANCY LEON ASSOCIATE DIRECTOR, FINANCE 36.00 4.00 X 114297 0 15947 ELEANOR MURPHY HEAD OF BUSINESS DEV., EAST COAST 39.50 0.50 X 114086 0 18461 2994899 0 318490 18 0 1 0 IDINSIGHT 350 TOWNSEND ST STE 407 SAN FRANCISCO CA 94107 VENDOR - SOFTWARE 348108 ADECCO INDIA PVT LTD NO 2 NAL WIND TUNNEL ROAD BENGALURU IN STAFFING SERVICES 268155 AGFLOW POULTRY TINSAE BUILDING BOLE ROAD CAPE VE ADDIS ABABA ET VENDOR - IMPACT RESEARCH 209308 EFRONT FINANCIAL SOLUTION INC 11 E 44TH ST 1500 NEW YORK NY 10017 VENDOR - SOFTWARE 178040 ADP TOTALSOURCE GROUP INC 10200 SUNSET DRIVE MIAMI FL 33173 PEO SERVICE FEE 142028 9 89559 1927488 25676501 459873 27693548 PROGRAMMATIC FEES 900099 1126015 1126015 PGM RELATED LOAN INC 900099 543410 543410 PORTFOLIO DILIGENCE FEE INCOME 900099 28000 28000 1697425 69671 69671 3901 3901 220356 143246 77110 77110 77110 51900 89559 91773 -39873 -39873 5520 26963 -21443 -21443 EARLY TERMINATION FEE 900099 150000 150000 REIMBURSEMENT/REFUND 900099 10053 10053 OTHER FEES/INCOME 900099 2596 2596 162649 29642988 1774535 0 174905 X 165000 165000 707127 707127 2629581 1454114 802920 372547 5727465 4305578 349560 1072327 201262 144761 20588 35913 437827 317607 34685 85535 571997 386914 82351 102732 137390 86670 20558 30162 109011 87718 21293 137923 98714 11643 27566 4998918 4663117 209466 126335 223571 214987 356 8228 203959 128655 28358 46946 495498 377695 73063 44740 757507 501783 110111 145613 912052 760832 75861 75359 652317 611948 13456 26913 299943 196275 43423 60245 62524 43024 8145 11355 PROV FOR PORTFOLIO LOSS 2437901 2437901 CORPORATE TAXES 47172 36998 5563 4611 OTHER DIRECT OPERATING 20853 16476 1203 3174 21936798 17743894 1912603 2280301 178330 456525 36030978 35073080 17517002 21417847 1899215 1157247 462918 294560 1821080 1400021 579390 421059 500959 500959 56335643 61608951 718713 765287 114223148 121695515 2071343 1899357 2071343 1899357 X 80247407 82044415 31904398 37751743 112151805 119796158 114223148 121695515 X 7706190 -61837 X X 0 1 X 1 0 X 15276219 18371359 22558173 29176704 27693548 113076003 15276219 18371359 22558173 29176704 27693548 113076003 16373080 96702923 75451 61519 60003 96765 73572 367310 79080 5082 2151 554566 162649 803528 114246841 5363545 0.84640 0.79090 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER FEES/INCOME - 2013 AMOUNT: $ 450. 2014 AMOUNT: $ 343. 2015 AMOUNT: $ 6. 2016 AMOUNT: $ 24,568. 2017 AMOUNT: $ 2,596. SPEAKER FEE - 2013 AMOUNT: $ 42,658. 2015 AMOUNT: $ 2,145. FOREIGN CURRENCY GAIN/LOSS - 2013 AMOUNT: $ 35,972. LOAN CLOSING FEES - 2014 AMOUNT: $ 4,739. REIMBURSEMENT/REFUND - 2016 AMOUNT: $ 529,998. 2017 AMOUNT: $ 10,053. EARLY TERMINATION FEE - 2017 AMOUNT: $ 150,000. 315449 302005 13444 900598 741895 158703 605033 356121 248912 421059 PROGRAM RELATED EQUITY INVESTMENTS - S.ASIA 18149311 C PROGRAM RELATED EQUITY INVESTMENTS - SUB-SAHARAN AFRICA 16873115 C PROGRAM RELATED EQUITY INVESTMENTS - USA 16040501 C PROGRAM RELATED EQUITY INVESTMENTS - LATIN AMERICA 4622683 C PROGRAM RELATED DEBT INVESTMENTS - S.ASIA 1479515 C PROGRAM RELATED DEBT INVESTMENTS - SUB-SAHARAN AFRICA 2150396 C PROGRAM RELATED DEBT INVESTMENTS - USA 1987666 C PROGRAM RELATED DEBT INVESTMENTS - LATIN AMERICA 305764 C 61608951 X 28776032 2558360 -3425316 -866956 29642988 0 29642988 21495192 2558360 -562065 1996295 19498897 2437901 2437901 21936798 PART X, LINE 2: ACUMEN RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY WHEN THEY ARE MORE THAN LIKELY THAN NOT OF BEING SUSTAINED. MANAGEMENT HAS DETERMINED THAT ACUMEN HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. ACUMEN IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST 37,524. RELATED PARTY REVENUE INCLUDED PER AUDIT-ACUMEN FUND INDIA 1,047,189. RELATED PARTY REVENUE INCLUDED PER AUDIT-ACUMEN FUND INDIA TRUST 232,497. RELATED PARTY REVENUE INCLUDED PER AUDIT-ACUMEN FUND PAKISTAN 389,080. RELATED PARTY REVENUE/(LOSS) INCLUDED PER AUDIT-ACUMEN CAPITAL MARKETS I LP -15,130. RELATED PARTY REVENUE INCLUDED PER AUDIT-ACUMEN FUND CANADA 214,192. RELATED PARTY REVENUE INCLUDED PER AUDIT-ACUMEN CAPITAL PARTNERS LLC 1,070,524. ELIMINATING/CONSOLIDATING ENTRIES PER AUDIT -4,082,027. PROVISION FOR PORTFOLIO LOSSES RECLASSIFICATION -2,437,901. FUNDRAISING EXPENSES INCLUDED IN PART IX 118,736. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN FUND INDIA 857,325. RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN FUND INDIA TRUST 349,902. RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN FUND PAKISTAN 983,129. RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN CAPITAL MARKETS I LP 385,428. RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN CAPITAL PARTNERS LLC 709,335. ELIMINATING/CONSOLIDATING ENTRIES PER AUDIT -4,091,874. FUNDRAISING EXPENSES INCLUDED IN PART IX 118,736. RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN CANADA 2,174. FOREIGN CURRENCY TRANSLATION LOSS INCLUDED IN AUDIT 99,361. RELATED PARTY FOREIGN CURRENCY TRANSLATION LOSS INCLUDED IN AUDIT 24,419. PART XII, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR PORTFOLIO LOSSES RECLASSIFICATION 2,437,901. 1 SOUTH ASIA 2 23 PROGRAM SERVICE PORTFOLIO MANAGEMENT AND FELLOWS PROGRAM 1749201 SUB-SAHARAN AFRICA 2 21 PROGRAM SERVICE PORTFOLIO MANAGEMENT AND FELLOWS PROGRAM 1595106 SOUTH AMERICA 1 5 PROGRAM SERVICE PORTFOLIO MANAGEMENT 522929 EUROPE 1 12 PROGRAM SERVICES AND FUND RAISING - SALARY EXPENSE PORTFOLIO MANAGEMENT AND FELLOWS PROGRAM 855140 SOUTH ASIA PROGRAM RELATED INVESTMENTS 19628826 SUB-SAHARAN AFRICA PROGRAM RELATED INVESTMENTS 19023511 SOUTH AMERICA PROGRAM RELATED INVESTMENTS 4928447 SOUTH ASIA GRANT MAKING 11364 SUB-SAHARAN AFRICA GRANT MAKING 695763 6 61 0 0 6 61 48314524 695763 49010287 SUB-SAHARAN AFRICA TECHNICAL ASSISTANCE GRANTS 563146 WIRE TRANSFER SUB-SAHARAN AFRICA TECHNICAL ASSISTANCE GRANTS 90867 WIRE TRANSFER SUB-SAHARAN AFRICA TECHNICAL ASSISTANCE GRANTS 28750 WIRE TRANSFER SUB-SAHARAN AFRICA TECHNICAL ASSISTANCE GRANTS 10000 WIRE TRANSFER SOUTH ASIA TECHNICAL ASSISTANCE GRANTS 11364 WIRE TRANSFER 2 3 1 0 1 0 1 0 PART I, LINE 2: PROGRAM-RELATED GRANTS: THE ORGANIZATION MAKES LARGE GRANTS TO ITS RELATED ENTITIES TO FUND THEIR OPERATIONS, THE ACTIVITIES OF WHICH ARE MANAGED 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 PAKISTAN AND INDIA HAVE INDEPENDENT AUDITS. IN ADDITION TO THE AUDIT, OUR CENTRAL OFFICE FINANCE DEPT IN NEW YORK HAS OVERSIGHT OF THE COUNTRY OFFICES' SPENDING. INVESTMENTS IN THIRD PARTIES ARE PRIMARILY DEBT OR EQUITY INVESTMENTS. RELATIVELY LITTLE IS AN OUTRIGHT GRANT FOR USE BY THE THIRD PARTY. FOR ANY PROGRAM-RELATED INVESTMENTS, THE ORGANIZATION REQUIRES REGULAR SOCIAL IMPACT, FINANCIAL AND OPERATIONAL REPORTING, TYPICALLY MAINTAINS A BOARD SEAT ON THE INVESTEE COMPANY 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 RECORD AND REPUTATION 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 ANY PERIODIC REPORTS SUBMITTED BY THE GRANTEE AS WELL AS THE ANNUAL REPORT OF THE ORGANIZATION (IF APPLICABLE) 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 IS LIKE 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 IN DEVELOPING COUNTRIES. THIS WOULD INCLUDE SUPPORTING CONTRIBUTIONS TO RELATED ENTITIES AND PROGRAM-RELATED INVESTMENTS TO THIRD PARTIES AS PART OF ACUMEN'S CHARITABLE WORK. 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 SPIN-OFF 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. YOUNG BENEFACTOR BASH 107702 76802 30900 5139 21963 23625 FACE OF ACUMEN - PHOTO EXHIBIT 33757 12757 21000 871 40175 141459 89559 51900 5139 22834 63800 91773 -39873 1 BIOLITE INC 65 JAY STREET BROOKLYN NY 11201 272826296 95000 TECHNICAL ASSISTANCE GRANT KHEYTI INC 130 MORNINGSIDE DRIVE 13 NEW YORK NY 10027 320503382 50000 TECHNICAL ASSISTANCE GRANT EVERYTABLE 1101 W 23RD STREET LOS ANGELES CA 90007 475369929 20000 TECHNICAL ASSISTANCE GRANT 0 3 PART I, LINE 2: THE ORGANIZATION MAKES VERY FEW GRANTS. THOSE GRANTS MADE ARE OCCASIONALLY PASS-THROUGH GRANTS CONTRIBUTED FROM OTHER FUNDING ORGANIZATIONS. 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 315344 0 16000 0 0 0 9940 0 16801 0 358085 0 0 0 CARLYLE SINGER JONES PRESIDENT 256113 0 13250 0 0 0 8081 0 19246 0 296690 0 0 0 SACHINDRA RUDRA CHIEF INVESTMENT OFFICER 238023 0 12000 0 0 0 7501 0 3818 0 261342 0 0 0 ALEXANDER DICHTER CHIEF INNOVATION OFFICER 219309 0 13015 0 0 0 6970 0 28497 0 267791 0 0 0 JACQUELINE WOO CHIEF FINANCIAL OFFICER 191013 0 20000 0 0 0 6330 0 26753 0 244096 0 0 0 LYNN ROLAND BOARD SECRETARY/GENERAL COUNSEL 192000 0 12490 0 0 0 6135 0 372 0 210997 0 0 0 YASMINA ZAIDMAN CHIEF PARTNERSHIPS OFFICER 195000 0 12715 0 0 0 6231 0 372 0 214318 0 0 0 SABRINA N DUPRE GLOBAL HEAD OF BRAND STRATEGY 178733 0 12600 0 0 0 5740 0 26983 0 224056 0 0 0 ALBERTO GOMEZ OBREGON DIRECTOR, PORTFOLIO 167129 0 4125 0 0 0 5138 0 18627 0 195019 0 0 0 CATHERINE C NANDA ACUMEN AMERICA DIRECTOR 158677 0 10725 0 0 0 5082 0 24129 0 198613 0 0 0 JO-ANN TAN LEAD ARCHITECT, +ACUMEN 145000 0 8594 0 0 0 4608 0 372 0 158574 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 9 433103 AVG SELLING PRICE X TICKETS/GIFT CARD/ENTERTAINMENT 1 26770 COST 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B) OF SCHEDULE M. FORM 990, PART VI, SECTION A, LINE 3 BEGINNING IN 2004, THE ORGANIZATION BEGAN USING 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 12/31/17 IS $142,028. FORM 990, PART VI, SECTION A, LINE 4 THE AMENDED BY-LAWS WERE ADOPTED BY THE BOARD OF DIRECTORS IN SEPTEMBER 2017. CHANGES MADE TO THE AMENDED BY-LAWS, INCLUDED THE FOLLOWING PRINCIPAL REVISIONS, IN ADDITION TO OTHER SMALLER CHANGES: - THE BOARD CAN NO LONGER REMOVE A DIRECTOR WITHOUT CAUSE - EMPLOYEES CAN NOW SERVE AS THE "CHAIR" OF ACUMEN IF IT IS APPROVED BY 2/3 OF THE BOARD - EXPANDED THE LIST OF MATTERS THAT A BOARD COMMITTEE CANNOT HAVE AUTHORITY OVER (E.G., ELECTION OR REMOVAL OF OFFICERS AND DIRECTORS, APPROVAL OF MERGER/DISSOLUTION/SALE OF SUBSTANTIALLY ALL ASSETS/PURCHASE OF SUBSTANTIALLY ALL ASSETS/AMENDMENTS TO THE CERTIFICATE OF INCORPORATION) - TIGHTENED WHEN ACUMEN CAN INDEMNIFY DIRECTORS AND OFFICERS FOR CLAIMS INITIATED BY THAT DIRECTOR OR OFFICER 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 FULL 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 AFFILIATE'S 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 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 CONFLICT OF INTEREST IS REQUIRED TO DISCLOSE, 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. IT SEEKS TO BENCHMARK AGAINST THESE COMPARATIVE FIGURES WHEN SETTING COMPENSATION FOR ITS CHIEF EXECUTIVE OFFICER AND PRESIDENT. THE ORGANIZATION WILL ALSO CONSIDER JOB PERFORMANCE AND ALTERNATIVE EMPLOYMENT OFFERS 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. THE COMPENSATION COMMITTEE IS COMPRISED 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 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 SIMILAR COMPARABILITY, PERFORMANCE AND ALTERNATIVE EMPLOYMENT OFFER INFORMATION. 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. FORM 990, PART IX, LINE 11G PROGRAM CONSULTANTS: PROGRAM SERVICE EXPENSES 792,341. MANAGEMENT AND GENERAL EXPENSES 26,911. FUNDRAISING EXPENSES 108,648. TOTAL EXPENSES 927,900. INDIA PROGRAM SERVICE FEE: PROGRAM SERVICE EXPENSES 3,825,845. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,825,845. CONFERENCE AND MEMBERSHIP FEES: PROGRAM SERVICE EXPENSES 29,476. MANAGEMENT AND GENERAL EXPENSES 6,759. FUNDRAISING EXPENSES 16,703. TOTAL EXPENSES 52,938. RECRUITING FEES: PROGRAM SERVICE EXPENSES 524. MANAGEMENT AND GENERAL EXPENSES 127,868. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 128,392. TRAINING FEES: PROGRAM SERVICE EXPENSES 14,931. MANAGEMENT AND GENERAL EXPENSES 47,928. FUNDRAISING EXPENSES 984. TOTAL EXPENSES 63,843. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY TRANSLATION GAIN -99,361. CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST 37,524. FORM 990, PART XII, LINE 2C: ACUMEN FUND, INC. HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM 2016. 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