ACUMEN FUND INC: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- ACUMEN FUND INC (EIN 13-4166228)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-10-17
- IRS object ID
- 201102909349300030
- Schema version
- 2010v3.4
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule F
- Schedule J
- Schedule L
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-10-17T11:52:25-05:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LUTZ AND CARR CPAS LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 300 EAST 42ND STREET | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10017 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 134166228 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ACUMEN FUND INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | ACUM | NameControl |
| Phone | 2125668821 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 76 NINTH AVENUE NO 315 | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10011 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MICHAEL GREENBERG | Name |
| Title | CHIEF FINANCIAL OFFICER | Title |
| Phone | 2125668821 | Phone |
| Date Signed | 2011-10-07 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2126972299 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | JACQUELINE NOVOGRATZ | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 76 NINTH AVENUE NO 315 | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10011 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 16249920 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.ACUMENFUND.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2001 | YearFormation |
| State Legal Domicile | NY | StateLegalDomicile |
| Activity Or Mission Description | OUR MISSION IS TO CREATE A WORLD BEYOND POVERTY BY INVESTING IN SOCIAL ENTERPRISES, EMERGING LEADERS, AND BREAKTHROUGH IDEAS.OUR VISION IS THAT ONE DAY EVERY HUMAN BEING WILL HAVE ACCESS TO THE CRITICAL GOODS AND SERVICES THEY NEED - INCLUDING AFFORDABLE HEALTH, WATER, HOUSING,ENERGY, AGRICULTURAL INPUTS AND SERVICES - SO THAT THEY CAN MAKE DECISIONS AND CHOICES FOR THEMSELVES AND UNLEASH THEIR FULL HUMAN POTENTIAL. THIS IS WHERE DIGNITY STARTS - NOT JUST FOR THE POOR BUT FOR EVERYONE ON EARTH. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 12 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 11 | NbrIndependentVotingMembers |
| Total Nbr Employees | 51 | TotalNbrEmployees |
| Total Nbr Volunteers | 28 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 6328179 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 12948757 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 880167 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 1134365 | ProgramServiceRevenueCY |
| Investment Income Prior Year | -1748530 | InvestmentIncomePriorYear |
| Investment Income Current Year | 131785 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 22391 | OtherRevenuePriorYear |
| Other Revenue Current Year | 38230 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 5482207 | TotalRevenuePriorYear |
| Total Revenue Current Year | 14253137 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 555364 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 579023 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 4153616 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 4257267 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 1123584 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 5346074 | OtherExpensePriorYear |
| Other Expenses Current Year | 3435621 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 10055054 | TotalExpensesPriorYear |
| Total Expenses Current Year | 8271911 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -4572847 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 5981226 | RevenuesLessExpensesCY |
| Total Assets BOY | 84053212 | TotalAssetsBOY |
| Total Assets EOY | 88328834 | TotalAssetsEOY |
| Total Liabilities BOY | 628858 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 515534 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 83424354 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 87813300 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | ACUMEN FUND IS WORKING TO CREATE A WORLD BEYOND POVERTY BY INVESTING IN SOCIAL ENTERPRISES, EMERGING LEADERS AND BREAKTHROUGH IDEAS. WE INVEST 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 FUND HAS INVESTED MORE THAN $60 MILLION IN ENTERPRISES THAT PROVIDE ACCESS TO WATER, HEALTH, ENERGY, HOUSING AND AGRICULTURAL SERVICES TO LOW-INCOME CUSTOMERS IN SOUTH ASIA AND EAST AFRICA. AND WE ARE BUILDING A GLOBAL COMMUNITY OF EMERGING LEADERS THAT BELIEVE IN CREATING A MORE INCLUSIVE WORLD THROUGH THE TOOLS OF BOTH BUSINESS AND PHILANTHROPY. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 3825286 | Expense |
| Grants | 499123 | Grants |
| Revenue | 1172595 | Revenue |
| Description | INVESTING AND PORTFOLIO MANAGEMENT:IN 2010, ACUMEN FUND'S EXPENSES OF $3.8 MILLION ALLOWED US TO DISBURSE $7.2 MILLION TO ENTERPRISES PROVIDING AFFORDABLE HEALTHCARE, WATER, HOUSING AND ENERGY TO THE POOR IN INDIA, PAKISTAN AND EAST AFRICA AND TO PROVIDE CRITICAL MANAGEMENT SUPPORT TO INVESTEES THROUGH OUR GLOBAL PORTFOLIO TEAM. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 1707241 | Expense |
| Grants | 79900 | Grants |
| Description | OUTREACH, KNOWLEDGE AND COMMUNICATIONS:THE GOAL OF THE KNOWLEDGE AND COMMUNICATIONS TEAM AT ACUMEN FUND IS TO SHARE WHAT WE ARE LEARNING FROM OUR PORTFOLIO, TO DRIVE CHANGE IN HOW THE WORLD TACKLES POVERTY, AND TO SUPPORT A NEW APPROACH THAT ADDRESSES POVERTY THROUGH ENTREPRENEURIAL SOLUTIONS. IN 2010, WE PRESENTED AT LEADING CONFERENCES, PUBLISHED CASE-STUDIES, AND HELD WORKSHOPS COVERING ISSUES SUCH AS INNOVATIONS IN LOW-INCOME HOUSING. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 682196 | Expense |
| Description | FELLOWS PROGRAM:ACUMEN FUND RECOGNIZES THAT BUILDING AND INVESTING IN ENTERPRISES THAT SERVE THE POOR TAKES A NEW TYPE OF LEADER, ONE WHO COMBINES HARD BUSINESS SKILLS WITH THE PASSION AND EMPATHY REQUIRED TO BUILD LASTING SOLUTIONS TO POVERTY. THE ACUMEN FUND FELLOWS PROGRAM, LAUNCHED IN 2006, RECRUITS AND TRAINS THIS NEW TYPE OF LEADER. THE TWELVE MONTH FELLOWSHIP BEGINS WITH AN EIGHT WEEK LEADERSHIP TRAINING PROGRAM AT ACUMEN FUND IN NEW YORK, FOLLOWED BY A NINE-MONTH ASSIGNMENT IN INDIA, PAKISTAN OR EAST AFRICA WHERE FELLOWS PROVIDE DIRECT SUPPORT TO AN ACUMEN FUND INVESTEE ON CRITICAL BUSINESS ISSUES. TO DATE, OUR FIRST FIVE CLASSES OF FELLOWS ENCOMPASSING 44 INDIVIDUALS HAVE SUPPORTED 23 OF OUR PORTFOLIO COMPANIES. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 6214723 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 1 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 1 | ForeignOffice |
| Foreign Activities | 1 | ForeignActivities |
| More Than5000 K To Organizations | 1 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 1 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 1 | RelatedOrgControlledEntity |
| Transaction Related Entity | 1 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 1 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 32 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 51 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 1 | ForeignFinancialAccount |
| Name Of Foreign Country | IN | NameOfForeignCountry |
| Name Of Foreign Country | PK | NameOfForeignCountry |
| Name Of Foreign Country | KE | NameOfForeignCountry |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 12 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 11 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | NY | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | CA | StatesWhereCopyOfReturnIsFiled |
| Own Website | X | OwnWebsite |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHAEL GREENBERG | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 6467473688 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 76 NINTH AVENUE - SUITE 315 | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10011 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (22 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| JACQUELINE NOVOGRATZ | ||||||||
| CEO & DIRECTOR | 40.00 | X | X | 268787 | 0 | 17963 | ||
| MARGO ALEXANDER | ||||||||
| CHAIR | 1.00 | X | X | 0 | 0 | 0 | ||
| CATHERINE MUTHER | ||||||||
| SECRETARY | 1.00 | X | X | 0 | 0 | 0 | ||
| ANGELA BLACKWELL | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| C HUNTER BOLL | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| STUART DAVIDSON | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| DAVID HELLER | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| WILLIAM E MAYER | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| ROBERT H NIEHAUS | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| MICHAEL NOVOGRATZ | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| GV PRASAD | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| ALI J SIDDIQUI | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| ANDREA SOROS COLOMBEL | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| JOSEPH E STIGLITZ | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| MICHAEL GREENBERG | ||||||||
| CHIEF FINANCIAL OFFICER | 1.00 | X | 21174 | 0 | 603 | |||
| BRIAN TRELSTAD | ||||||||
| CHIEF INVESTMENT OFFICER | 40.00 | 201332 | 0 | 6108 | X | |||
| ANN MACDOUGALL | ||||||||
| CHIEF MANAGEMENT OFFICER | 40.00 | 201263 | 0 | 6376 | X | |||
| ANAND ATTAVANE | ||||||||
| DIRECTOR OF FINANCE | 40.00 | 157101 | 0 | 14753 | X | |||
| HARRY DELLANE | ||||||||
| DIRECTOR OF HUMAN RESOURCES | 40.00 | 153616 | 0 | 25485 | X | |||
| ALEXANDER DICHTER | ||||||||
| DIRECTOR OF BUSINESS DEV | 40.00 | 134370 | 0 | 31550 | X | |||
| RAJAN KUNDRA | ||||||||
| DIRECTOR OF ACM | 40.00 | 134748 | 0 | 32847 | X | |||
| YASMINA ZAIDMAN | ||||||||
| DIRECTOR OF COMMUNICATIONS | 40.00 | 115559 | 0 | 28221 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1387950 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 163906 | TotalOtherCompensation |
| Number Individuals GT100 K | 8 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (2 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| GROUP GORDON | |||||
| 12 EAST 44TH STREET 5TH FLOOR | NEW YORK | NY | 10017 | STRATEGIC COMMUNICATIONS | 105693 |
| LUTZ AND CARR LLP | |||||
| 300 EAST 42ND STREET | NEW YORK | NY | 10017 | ACCOUNTING SERVICES | 105494 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 2 | NumberOfContractorsGT100K |
| All Other Contributions | 12948757 | AllOtherContributions |
| Noncash Contributions | 2376747 | NoncashContributions |
| Total Contributions | 12948757 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| PROGRAM RELATED LOAN I | 900099 | 673273 | 673273 |
| PORTFOLIO MGMT FEE | 541900 | 461092 | 461092 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 1134365 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 156721 | TotalRevenueColumn |
| Exclusion | $156,721 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 1971847 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 1996783 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -24936 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -24936 | TotalRevenueColumn |
| Exclusion | -$24,936 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | OTHER INCOME | Description |
| Business Code | 900099 | BusinessCode |
| Total Revenue Column | 38230 | TotalRevenueColumn |
| Related Or Exempt Function Income | 38230 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 38230 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 14253137 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1172595 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $131,785 | ExclusionAmount |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 579023 | Total |
| Program Services | 579023 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 723606 | Total |
| Program Services | 518731 | ProgramServices |
| Management And General | 86393 | ManagementAndGeneral |
| Fundraising | 118482 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2771939 | Total |
| Program Services | 1842825 | ProgramServices |
| Management And General | 454454 | ManagementAndGeneral |
| Fundraising | 474660 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 79034 | Total |
| Program Services | 52433 | ProgramServices |
| Management And General | 13390 | ManagementAndGeneral |
| Fundraising | 13211 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 475945 | Total |
| Program Services | 322771 | ProgramServices |
| Management And General | 75607 | ManagementAndGeneral |
| Fundraising | 77567 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 206743 | Total |
| Program Services | 139994 | ProgramServices |
| Management And General | 32318 | ManagementAndGeneral |
| Fundraising | 34431 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 76122 | Total |
| Program Services | 31647 | ProgramServices |
| Management And General | 13028 | ManagementAndGeneral |
| Fundraising | 31447 | Fundraising |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 88366 | Total |
| Program Services | 36382 | ProgramServices |
| Management And General | 40977 | ManagementAndGeneral |
| Fundraising | 11007 | Fundraising |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10594 | Total |
| Management And General | 10594 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 58521 | Total |
| Program Services | 36952 | ProgramServices |
| Management And General | 1344 | ManagementAndGeneral |
| Fundraising | 20225 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 201062 | Total |
| Program Services | 142222 | ProgramServices |
| Management And General | 31723 | ManagementAndGeneral |
| Fundraising | 27117 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 88594 | Total |
| Program Services | 58876 | ProgramServices |
| Management And General | 7617 | ManagementAndGeneral |
| Fundraising | 22101 | Fundraising |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 70767 | Total |
| Program Services | 51160 | ProgramServices |
| Management And General | 12501 | ManagementAndGeneral |
| Fundraising | 7106 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 536367 | Total |
| Program Services | 437758 | ProgramServices |
| Management And General | 33175 | ManagementAndGeneral |
| Fundraising | 65434 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 125582 | Total |
| Program Services | 52494 | ProgramServices |
| Management And General | 1691 | ManagementAndGeneral |
| Fundraising | 71397 | Fundraising |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 116686 | Total |
| Program Services | 81102 | ProgramServices |
| Management And General | 16657 | ManagementAndGeneral |
| Fundraising | 18927 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 55885 | Total |
| Program Services | 47249 | ProgramServices |
| Management And General | 1993 | ManagementAndGeneral |
| Fundraising | 6643 | Fundraising |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| CONSULTANTS | 1910648 | 1737083 | 81951 | 91614 |
| EQUIPMENT MAINTENANCE | 33945 | 22558 | 2919 | 8468 |
| BANK CHARGES | 27089 | 9463 | 3456 | 14170 |
| MISCELLANEOUS | 19594 | 7341 | 2676 | 9577 |
| RESEARCH STUDY | 9000 | 9000 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6799 | Total |
| Program Services | 6659 | ProgramServices |
| Management And General | 140 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8271911 | Total |
| Program Services | 6214723 | ProgramServices |
| Management And General | 933604 | ManagementAndGeneral |
| Fundraising | 1123584 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12288115 | BOY |
| EOY | 1617965 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23779235 | BOY |
| EOY | 39918199 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 21632046 | BOY |
| EOY | 16947464 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 179770 | BOY |
| EOY | 687838 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 209221 | BOY |
| EOY | 62841 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 748751 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 632471 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 161254 | BOY |
| EOY | 116280 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1404831 | BOY |
| EOY | 629069 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 610959 | BOY |
| EOY | 680959 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23491403 | BOY |
| EOY | 27342870 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 296378 | BOY |
| EOY | 325349 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 84053212 | BOY |
| EOY | 88328834 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 374544 | BOY |
| EOY | 457192 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 254314 | BOY |
| EOY | 58342 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 628858 | BOY |
| EOY | 515534 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 53856225 | BOY |
| EOY | 63220704 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 29568129 | BOY |
| EOY | 24592596 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 83424354 | BOY |
| EOY | 87813300 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 84053212 | BOY |
| EOY | 88328834 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 5981226 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -1592280 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 13498072 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 35244393 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 33788852 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 8328179 | CurrentTaxYearMinus1Year |
| Current Tax Year | 12948757 | CurrentTaxYear |
| Total | 103808253 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 13498072 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 35244393 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 33788852 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 8328179 | CurrentTaxYearMinus1Year |
| Current Tax Year | 12948757 | CurrentTaxYear |
| Total | 103808253 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 34772201 | AmountsSubstContributorsTotal |
| Public Support Total170 | 69036052 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 449288 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 831386 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 601581 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 228210 | CurrentTaxYearMinus1Year |
| Current Tax Year | 156721 | CurrentTaxYear |
| Total | 2267186 | Total |
Other Income170 OtherIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 2272 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 11977 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 6332 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 22391 | CurrentTaxYearMinus1Year |
| Current Tax Year | 38230 | CurrentTaxYear |
| Total | 81202 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 106156641 | TotalSupport |
| Gross Receipts From Admissions Etc | 2617243 | GrossReceiptsFromAdmissionsEtc |
| Public Support Pertcentage170 | 0.65030 | PublicSupportPertcentage170 |
| Public Support Pertcent Prior Year | 0.46620 | PublicSupportPertcentPriorYear |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 308436 | OtherCostOrOtherBasis |
| Depreciation | 301715 | Depreciation |
| Book Value | 6721 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 409117 | OtherCostOrOtherBasis |
| Depreciation | 304270 | Depreciation |
| Book Value | 104847 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 31198 | OtherCostOrOtherBasis |
| Depreciation | 26486 | Depreciation |
| Book Value | 4712 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 116280 | TotalOfBookValueLandBuildings |
Investments Program Related InvestmentsProgramRelated (6 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| PROGRAM RELATED EQUITY INVESTMENTS - S. ASIA | 10742449 | C |
| PROGRAM RELATED EQUITY INVESTMENTS - SUB-SAHARAN AFRICA | 4104568 | C |
| PROGRAM RELATED EQUITY INVESTMENTS - USA | 3094312 | C |
| PROGRAM RELATED DEBT INVESTMENTS - S. ASIA | 3429283 | C |
| PROGRAM RELATED DEBT INVESTMENTS - SUB-SAHARAN AFRICA | 3928529 | C |
| PROGRAM RELATED DEBT INVESTMENTS - USA | 2043729 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Program Related | 27342870 | TotalOfBookValueProgramRelated |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | SALARIES PAYABLE AND ACCRUED VACATION | Description |
| Amount | $58,342 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 58342 | TotalOfAmounts |
| Total Revenue | 14253137 | TotalRevenue |
| Total Expenses | 8271911 | TotalExpenses |
| Excess Or Deficit For Year | 5981226 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -13066 | NetUnrealizedGLOnInvestments |
| Other | -$1,579,214 | OtherAmount |
| Total Adjustments | -1592280 | TotalAdjustments |
| Excess Or Deficit Per FS | 4388946 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 14547840 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -13066 | NetUnrealizedGainsInvestments |
| Donated Srvc And Use Of Facilities | 1680007 | DonatedSrvcAndUseOfFacilities |
| Other Revenues | 127749 | OtherRevenues |
| Revenue Not Rptd F990 | 1794690 | RevenueNotRptdF990 |
| Revenue Subtotal | 12753150 | RevenueSubtotal |
| Other Revenues Not Included | 1499987 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 1499987 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 14253137 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 10057862 | TotExpensesEtcAuditedFinclStmt |
| Donated Services Use Of Facilities | 1680007 | DonatedServicesUseOfFacilities |
| Other Expenses Included | 105944 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 1785951 | ExpensesNotRptdF990 |
| Expenses Subtotal | 8271911 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 8271911 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (5 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | MANAGEMENT BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | EXCHANGE LOSS OF FOREIGN CURRENCY PORTFOLIO LOANS RECEIVABLE -108,698. CHANGE IN VALUE OF REMAINDER INTEREST 29,471. CHANGE IN VALUATION ALLOWANCE ON PORTFOLIO LOANS AND INVESTMENTS -1,499,987. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | CHANGE IN VALUE OF REMAINDER INTEREST 29,471. ACUMEN FUND INDIA REVENUE INCLUDED IN TOTAL REVENUE PER AUDIT 969,903. ACUMEN FUND PAKISTAN REVENUE INCLUDED IN TOTAL REVENUE PER AUDIT 1,100,384. ELIMINATING/CONSOLIDATING ENTRIES PER AUDIT -1,884,827. SUBSIDIARY FOREIGN EXCHANGE LOSS INLCUDED IN AUDITED FINANCIAL STATEMENTS -99,688. ACUMEN CAPITAL MARKETS I LP REVENUE INCLUDED IN TOTAL REVENUE PER AUDIT 12,506. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | CHANGE IN VALUATION ALLOWANCE ON PROGRAM RELATED LOANS AND INVESTMENTS 1,499,987. | |
| PART XIII, LINE 2D - OTHER ADJUSTMENTS: | ACUMEN FUND INDIA EXPENSES INCLUDED IN TOTAL EXPENSES PER AUDIT 833,162. ACUMEN FUND PAKISTAN EXPENSES INCLUDED IN TOTAL EXPENSES PER AUDIT 522,303. ELIMINATING/CONSOLIDATING ENTRIES PER AUDIT -1,884,827. ACUMEN CAPITAL MARKETS I LP EXPENSES INCLUDED IN TOTAL EXPENSES PER AUDIT 635,306. |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 1 | GrantRecordsMaintained |
Accts Actvs Out US Table AcctsActvsOutUSTable (4 entries)
| RegionRegion | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees | Type Of Activities ConductedTypeOfActivitiesConducted | Specific Services ProvidedSpecificServicesProvided | Total ExpendituresTotalExpenditures |
|---|---|---|---|---|---|
| SOUTH ASIA | 2 | 21 | PROGRAM SERVICES | PORTFOLIO MANAGEMENT AND FELLOWS PROGRAM | 816952 |
| SUB-SAHARAN AFRICA | 1 | 7 | PROGRAM SERVICES | PORTFOLIO MANAGEMENT AND FELLOWS PROGRAM | 341175 |
| SOUTH ASIA | PROGRAM-RELATED INVESTMENTS AND GRANTS | 3071927 | |||
| SUB-SAHARAN AFRICA | PROGRAM RELATED-INVESTMENTS | 3647963 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Number Of Employees | 28 | SubtotalNumberOfEmployees |
| Cont Number Of Employees | 0 | ContNumberOfEmployees |
| Total Number Of Employees | 28 | TotalNumberOfEmployees |
| Subtotal Amount Spent | 7878017 | SubtotalAmountSpent |
| Cont Amount Spent | 0 | ContAmountSpent |
| Total Amount Spent | 7878017 | TotalAmountSpent |
Grants To Orgs Outside US GrantsToOrgsOutsideUS (17 entries)
| RegionRegion | Purpose Of GrantPurposeOfGrant | Amount Of Cash GrantAmountOfCashGrant | Manner Of Cash DisbursementMannerOfCashDisbursement | Method Of ValuationMethodOfValuation |
|---|---|---|---|---|
| SOUTH ASIA | HOUSING PILOT STUDY | 9000 | WIRE TRANSFER | N/A |
| SOUTH ASIA | RIPPLE EFFECT | 46900 | WIRE TRANSFER | N/A |
| SOUTH ASIA | RIPPLE EFFECT | 20000 | WIRE TRANSFER | N/A |
| SOUTH ASIA | RIPPLE EFFECT | 10000 | WIRE TRANSFER | N/A |
| SOUTH ASIA | OPERATING SUPPORT | 499123 | WIRE TRANSFER | N/A |
| SOUTH ASIA | PROGRAM-RELATED INVESTMENT | 423355 | WIRE TRANSFER | N/A |
| SOUTH ASIA | PROGRAM-RELATED INVESTMENT | 499999 | WIRE TRANSFER | N/A |
| SUB-SAHARAN AFRICA | PROGRAM-RELATED INVESTMENT | 1119088 | WIRE TRANSFER | N/A |
| SOUTH ASIA | PROGRAM-RELATED INVESTMENT | 511350 | WIRE TRANSFER | N/A |
| SUB-SAHARAN AFRICA | PROGRAM-RELATED INVESTMENT | 142586 | WIRE TRANSFER | N/A |
| SUB-SAHARAN AFRICA | PROGRAM-RELATED INVESTMENT | 350000 | WIRE TRANSFER | N/A |
| SUB-SAHARAN AFRICA | PROGRAM-RELATED INVESTMENT | 100000 | WIRE TRANSFER | N/A |
| SUB-SAHARAN AFRICA | PROGRAM-RELATED INVESTMENT | 200000 | WIRE TRANSFER | N/A |
| SOUTH ASIA | PROGRAM-RELATED INVESTMENT | 677000 | WIRE TRANSFER | N/A |
| SOUTH ASIA | PROGRAM-RELATED INVESTMENT | 375000 | WIRE TRANSFER | N/A |
| SUB-SAHARAN AFRICA | PROGRAM-RELATED INVESTMENT | 1036289 | WIRE TRANSFER | N/A |
| SUB-SAHARAN AFRICA | PROGRAM-RELATED INVESTMENT | 700000 | WIRE TRANSFER | N/A |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of501c3 Orgs | 1 | TotalNumberOf501c3Orgs |
| Total Number Of Other Orgs | 16 | TotalNumberOfOtherOrgs |
| Transfer To Foreign Corp | 1 | TransferToForeignCorp |
| Interest In Foreign Trust | 0 | InterestInForeignTrust |
| Own Foreign Corp | 1 | OwnForeignCorp |
| Passive Foreign Invest Co | 0 | PassiveForeignInvestCo |
| Foreign Partnership | 0 | ForeignPartnership |
| Boycott Countries | 0 | BoycottCountries |
Form990 Schedule F Part V Form990ScheduleFPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: | Identifier |
| Explanation | SCHEDULE F, PART I, LINE 2: PROGRAM-RELATED INVESTMENTS OUTSIDE OF THE U.S.: 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 IN DEVELOPING COUNTRIES. THESE ARE PROGRAM-RELATED INVESTMENTS REPORTED AS GRANTS , 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 NURTURES THEM UNTIL THEY THRIVE, PROVIDING MULTIPLE SPIN-OFF BENEFITS TO CUSTOMERS SERVED - TYPICALLY THE POOREST POPULATIONS WHO LIVE ON LESS THAN A FEW DOLLARS PER DAY. THE ORGANIZATION'S LARGEST GRANT IS TO ITS WHOLLY OWNED CONTROLLED SUBSIDIARY ENTITY, THE ACTIVITIES OF WHICH ARE MANAGED BY THE ORGANIZATION. ACUMEN FUND, INC. MONITORS THE ACTIVITY OF ITS SUBSIDIARIES BY ANALYZING EXPENDITURES AND COMPARING TO BUDGETED AMOUNTS, AND BY MAINTAINING DIRECT OVERSIGHT OF THE ACTIVITIES CONDUCTED AND EXPENDITURES INCURRED. OUR AFFILIATE IN PAKISTAN HAS AN INDEPENDENT AUDIT TO MAKE SURE FUNDS ARE USED FOR NON PROFIT PURPOSES. IN ADDITION TO THE AUDIT, OUR CENTRAL OFFICE FINANCE DEPT IN NEW YORK HAS OVERSIGHT TO THE COUNTRY OFFICES SPENDING. FOR OTHER 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. GRANTS 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 FUND. THE PROGRAM STAFF WILL REVIEW THE GRANTEE REPORTS TO ENSURE COMPLIANCE. THE GRANTEES ARE REQUIRED TO RETAIN THE BOOKS AND RECORDS WITH RESPECT TO THE USE OF THE GRANT FUNDS FOR FOUR YEARS AFTER THE GRANT PERIOD OR SOME OTHER PERIOD AS REQUIRED BY THE GRANT AGREEMENT AND ACUMEN FUND RETAINS THE RIGHT TO REVIEW THEIR BOOKS AND RECORDS RELATING TO THE GRANT IF IT DEEMS NECESSARY. ACUMEN FUND PROGRAM STAFF DILIGENTLY SCREENS THE PROSPECTIVE GRANTEES TRACK RECORD AND REPUTATION BEFORE AWARDING ANY GRANT. 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. 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 FUND. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (7 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JACQUELINE NOVOGRATZ | |||||||||||||
| 256037 | 0 | 12750 | 0 | 0 | 0 | 8064 | 0 | 9899 | 0 | 286750 | 0 | 0 | 0 |
| BRIAN TRELSTAD | |||||||||||||
| 191832 | 0 | 9500 | 0 | 0 | 0 | 6040 | 0 | 68 | 0 | 207440 | 0 | 0 | 0 |
| ANN MACDOUGALL | |||||||||||||
| 191763 | 0 | 9500 | 0 | 0 | 0 | 6038 | 0 | 338 | 0 | 207639 | 0 | 0 | 0 |
| ANAND ATTAVANE | |||||||||||||
| 150101 | 0 | 7000 | 0 | 0 | 0 | 4713 | 0 | 10040 | 0 | 171854 | 0 | 0 | 0 |
| HARRY DELLANE | |||||||||||||
| 137200 | 0 | 8000 | 0 | 8416 | 0 | 4482 | 0 | 21003 | 0 | 179101 | 0 | 0 | 0 |
| ALEXANDER DICHTER | |||||||||||||
| 127370 | 0 | 7000 | 0 | 0 | 0 | 4031 | 0 | 27519 | 0 | 165920 | 0 | 0 | 0 |
| RAJAN KUNDRA | |||||||||||||
| 127748 | 0 | 7000 | 0 | 0 | 0 | 4042 | 0 | 28805 | 0 | 167595 | 0 | 0 | 0 |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | CATHERINE MUTHER | NamePerson |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | DIRECTOR (TERM ENDING 4/2010) | Relationship |
| Amount Of Transaction | 130067 | AmountOfTransaction |
| Description Of Transaction | SEE PART V - IN 2009, THIS INDIVIDUAL MADE AN INDIRECT INVESTMENT IN AN ENTERPRISE TO WHICH THE ORGANIZATION HAS MADE A LOAN OF $1,397,975 - 40% OF THIS BALANCE, OR $559,190, WAS FUNDED BY A LOAN FROM THE COMPANY OF DIRECTOR CATHERINE MUTHER. IN 2010, THE $130,067 REPRESENTED A REPAYMENT TOWARDS THE LOAN PRINCIPAL AND INTEREST OWED. | DescriptionOfTransaction |
| Sharing Of Revenues | 0 | SharingOfRevenues |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 19 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 2376747 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 1 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (6 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | JACQUELINE NOVOGRATZ AND MICHAEL E. NOVOGRATZ - FAMILY RELATIONSHIP | |
| FORM 990, PART VI, SECTION B, LINE 11 | 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 TO THE FULL BOARD OF DIRECTORS. AFTER SOLICITING THE BOARD'S FEEDBACK AND COMMENTS THE FORM 990 IS E-FILED WITH THE IRS. | |
| BOARD MEMBERS AND EMPLOYEES ARE REQUIRED TO DISCLOSE ANY ACTIVITY THAT WOULD COME INTO CONFLICT OF THE COMPANY'S ACTIVITY AND WILL BE REVIEWED BY THE MANAGEMENT COMMITTEE OR BOARD TO DETERMINE APPROPRIATE ACTION TO BE TAKEN TO ADDRESS THE CONFLICT OF INTEREST. | FORM 990, PART VI, SECTION B, LINE 12C | |
| ACUMEN FUND PERIODICALLY REVIEWS COMPARABLE COMPENSATION DATA FOR ITS 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. THE ORGANIZATION WILL ALSO CONSIDER JOB PERFORMANCE AND ALTERNATIVE EMPLOYMENT OFFERS WHEN EVALUATING CEO COMPENSATION. THE BOARD OF DIRECTORS DISCUSSES, IN EXECUTIVE SESSION, THE COMPENSATION INFORMATION AND DETERMINES THE CHIEF EXECUTIVE OFFICER'S SALARY. THE CEO, IN CONSULTATION WITH THE DIRECTOR OF TALENT, DETERMINES SALARIES OF THE OTHER MEMBERS OF SENIOR MANAGEMENT OF THE ORGANIZATION. | FORM 990, PART VI, SECTION B, LINE 15 | |
| THE ORGANIZATION POSTS ITS FORM 990 AND AUDITED FINANCIAL STATEMENTS ON ITS PUBLICLY ACCESSABLE WEBSITE WWW.ACUMENFUND.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 FUND IS AVAILABLE ON THE CHARITY BUREAU SECTION OF THE NEW YORK STATE ATTORNEY'S GENERAL'S WEBSITE, AS WELL AS UPON REQUEST. | FORM 990, PART VI, SECTION C, LINE 19 | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | NET UNREALIZED LOSSES ON INVESTMENTS: -13,066. EXCHANGE LOSS OF FOREIGN CURRENCY PORTFOLIO LOANS RECEIVABLE -108,698. CHANGE IN VALUE OF REMAINDER INTEREST 29,471. CHANGE IN VALUATION ALLOWANCE ON PORTFOLIO LOANS AND INVESTMENTS -1,499,987. TOTAL TO FORM 990, PART XI, LINE 5: -1,592,280. | FORM 990, PART XI, LINE 5: |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ACUMEN FUND PAKISTAN | BusinessNameLine1 |
Address Foreign AddressForeign
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 11-C 4TH FLR 1ST COMMERCIAL LANE | AddressLine1 |
| Province Or State | KARACHI | ProvinceOrState |
| Country | PK | Country |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | INVESTING IN SOCIAL ENTERPRISES | PrimaryActivities |
| Legal Domicile Foreign Country | PK | LegalDomicileForeignCountry |
| Exempt Code Section | 501(C)(3) EQUIVELANT | ExemptCodeSection |
| Public Charity Status | PUBLIC CHARITY EQUIV | PublicCharityStatus |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Controlled Org | 0 | ControlledOrg |
Form990 Schedule R Part III Form990ScheduleRPartIII
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ACUMEN CAPITAL MARKETS I LP | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 76 NINTH AVENUE STE 315 | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10011 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 263831409 | EIN |
| Primary Activity | INVESTING IN SOCIAL ENTERPRISES | PrimaryActivity |
| Legal Domicile State | DE | LegalDomicileState |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Predominant Income Type | INVESTMENT | PredominantIncomeType |
| Share Of EOY Assets | 732113 | ShareOfEOYAssets |
| Disproportionate Allocations | 0 | DisproportionateAllocations |
| General Or Managing Partner | 1 | GeneralOrManagingPartner |
| Percentage Ownership | 0.20950 | PercentageOwnership |
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ACUMEN FUND ADVISORY SERVICES INDIA PRIVATE LIMITED | BusinessNameLine1 |
Address Foreign AddressForeign
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | UNIT B-12 JER MANSION 2ND FL VP | AddressLine1 |
| Province Or State | MUMBAI | ProvinceOrState |
| Country | IN | Country |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activity | INVESTING IN SOCIAL ENTERPRISES | PrimaryActivity |
| Legal Domicile Foreign Country | IN | LegalDomicileForeignCountry |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Type Of Entity | C | TypeOfEntity |
| Share Of Total Income | 1022458 | ShareOfTotalIncome |
| Share Of EOY Assets | 968933 | ShareOfEOYAssets |
| Percentage Ownership | 0.99900 | PercentageOwnership |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 1 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 1 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 1 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (3 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved | Method Of Amt DeterminationMethodOfAmtDetermination |
|---|---|---|
| ACUMEN FUND ADVISORY SERVICES INDIA PRIVATE LIMITED | ||
| L | 943626 | FMV |
| ACUMEN FUND PAKISTAN | ||
| B | 498986 | FMV |
| ACUMEN CAPITAL MARKETS I LP | ||
| K | 442215 | FMV |
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