2011-10-17T11:52:25-05:00 2010-12-31 LUTZ AND CARR CPAS LLP 300 EAST 42ND STREET NEW YORK NY 10017 990 2010-01-01 134166228 ACUMEN FUND INC ACUM 2125668821 76 NINTH AVENUE NO 315 NEW YORK NY 10011 MICHAEL GREENBERG 2125668821 2011-10-07 1 2126972299 2010 2016-03-07 17:11:31Z JACQUELINE NOVOGRATZ 76 NINTH AVENUE NO 315 NEW YORK NY 10011 16249920 0 X WWW.ACUMENFUND.ORG X 2001 NY 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. 12 11 51 28 0 0 6328179 12948757 880167 1134365 -1748530 131785 22391 38230 5482207 14253137 555364 579023 0 0 4153616 4257267 0 0 1123584 5346074 3435621 10055054 8271911 -4572847 5981226 84053212 88328834 628858 515534 83424354 87813300 X 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. 0 0 3825286 499123 1172595 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. 1707241 79900 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. 682196 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. 6214723 1 1 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 0 0 0 0 1 1 1 1 0 1 32 0 51 1 0 1 IN PK KE 0 0 0 0 0 0 0 0 X 12 11 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY CA X X X MICHAEL GREENBERG 6467473688 76 NINTH AVENUE - SUITE 315 NEW YORK NY 10011 JACQUELINE NOVOGRATZ 40.00 X X 268787 0 17963 MARGO ALEXANDER 1.00 X X 0 0 0 CATHERINE MUTHER 1.00 X X 0 0 0 ANGELA BLACKWELL 1.00 X 0 0 0 C HUNTER BOLL 1.00 X 0 0 0 STUART DAVIDSON 1.00 X 0 0 0 DAVID HELLER 1.00 X 0 0 0 WILLIAM E MAYER 1.00 X 0 0 0 ROBERT H NIEHAUS 1.00 X 0 0 0 MICHAEL NOVOGRATZ 1.00 X 0 0 0 GV PRASAD 1.00 X 0 0 0 ALI J SIDDIQUI 1.00 X 0 0 0 ANDREA SOROS COLOMBEL 1.00 X 0 0 0 JOSEPH E STIGLITZ 1.00 X 0 0 0 MICHAEL GREENBERG 1.00 X 21174 0 603 BRIAN TRELSTAD 40.00 X 201332 0 6108 ANN MACDOUGALL 40.00 X 201263 0 6376 ANAND ATTAVANE 40.00 X 157101 0 14753 HARRY DELLANE 40.00 X 153616 0 25485 ALEXANDER DICHTER 40.00 X 134370 0 31550 RAJAN KUNDRA 40.00 X 134748 0 32847 YASMINA ZAIDMAN 40.00 X 115559 0 28221 1387950 0 163906 8 0 1 0 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 2 12948757 2376747 12948757 PROGRAM RELATED LOAN I 900099 673273 673273 PORTFOLIO MGMT FEE 541900 461092 461092 1134365 156721 156721 1971847 1996783 -24936 -24936 -24936 OTHER INCOME 900099 38230 38230 38230 14253137 1172595 0 131785 579023 579023 723606 518731 86393 118482 2771939 1842825 454454 474660 79034 52433 13390 13211 475945 322771 75607 77567 206743 139994 32318 34431 76122 31647 13028 31447 88366 36382 40977 11007 10594 10594 58521 36952 1344 20225 201062 142222 31723 27117 88594 58876 7617 22101 70767 51160 12501 7106 536367 437758 33175 65434 125582 52494 1691 71397 116686 81102 16657 18927 55885 47249 1993 6643 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 6799 6659 140 8271911 6214723 933604 1123584 12288115 1617965 23779235 39918199 21632046 16947464 179770 687838 209221 62841 748751 632471 161254 116280 1404831 629069 610959 680959 23491403 27342870 296378 325349 84053212 88328834 374544 457192 254314 58342 628858 515534 X 53856225 63220704 29568129 24592596 83424354 87813300 84053212 88328834 X 5981226 -1592280 X 0 1 1 X 0 X 13498072 35244393 33788852 8328179 12948757 103808253 13498072 35244393 33788852 8328179 12948757 103808253 34772201 69036052 449288 831386 601581 228210 156721 2267186 2272 11977 6332 22391 38230 81202 106156641 2617243 0.65030 0.46620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 308436 301715 6721 409117 304270 104847 31198 26486 4712 116280 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 27342870 SALARIES PAYABLE AND ACCRUED VACATION 58342 58342 14253137 8271911 5981226 -13066 -1579214 -1592280 4388946 14547840 -13066 1680007 127749 1794690 12753150 1499987 1499987 14253137 10057862 1680007 105944 1785951 8271911 0 8271911 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. 1 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 28 0 28 7878017 0 7878017 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 1 16 1 0 1 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: 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. X X X X 0 0 0 0 0 0 0 0 0 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 CATHERINE MUTHER DIRECTOR (TERM ENDING 4/2010) 130067 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. 0 X 19 2376747 FAIR MARKET VALUE 0 1 0 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. FORM 990, PART VI, SECTION B, LINE 12C 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 15 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 C, LINE 19 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: 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. ACUMEN FUND PAKISTAN 11-C 4TH FLR 1ST COMMERCIAL LANE KARACHI PK INVESTING IN SOCIAL ENTERPRISES PK 501(C)(3) EQUIVELANT PUBLIC CHARITY EQUIV N/A 0 ACUMEN CAPITAL MARKETS I LP 76 NINTH AVENUE STE 315 NEW YORK NY 10011 263831409 INVESTING IN SOCIAL ENTERPRISES DE N/A INVESTMENT 732113 0 1 0.20950 ACUMEN FUND ADVISORY SERVICES INDIA PRIVATE LIMITED UNIT B-12 JER MANSION 2ND FL VP MUMBAI IN INVESTING IN SOCIAL ENTERPRISES IN N/A C 1022458 968933 0.99900 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 ACUMEN FUND ADVISORY SERVICES INDIA PRIVATE LIMITED L 943626 FMV ACUMEN FUND PAKISTAN B 498986 FMV ACUMEN CAPITAL MARKETS I LP K 442215 FMV