Form990
Click to see attachment
Department of the TreasuryInternal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
MediumBullet Do not enter social security numbers on this form as it may be made public.
MediumBullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2019
Open to Public Inspection
A For the 2019 calendar year, or tax year beginning 01-01-2019 , and ending 12-31-2019
BCheck if applicable:
CName of organization
ACUMEN FUND INC
 
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
40 WORTH STREET NO 303
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY10013
D Employer identification number

13-4166228
E Telephone number

G Gross receipts $ 33,090,301
F Name and address of principal officer:
JACQUELINE NOVOGRATZ
40 WORTH STREET NO 303
NEW YORK,NY10013
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
WWW.ACUMEN.ORG
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:  
L Year of formation: 2001
M State of legal domicile: NY
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: 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, ACCESS TO 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.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 14
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 13
5 Total number of individuals employed in calendar year 2019 (Part V, line 2a) ...... 5 78
6 Total number of volunteers (estimate if necessary) ............. 6 15
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 0
b Net unrelated business taxable income from Form 990-T, line 39 ......... 7b 0
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 35,753,189 25,402,570
9 Program service revenue (Part VIII, line 2g) ......... 2,431,762 2,317,027
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... -3,790,315 2,756,044
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 226,997 491,207
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 34,621,633 30,966,848
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 1,623,579 3,119,886
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 11,761,818 12,801,378
16a Professional fundraising fees (Part IX, column (A), line 11e) ..... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet3,316,680    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 9,288,946 10,648,613
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 22,674,343 26,569,877
19 Revenue less expenses. Subtract line 18 from line 12....... 11,947,290 4,396,971
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 134,799,533 140,919,171
21 Total liabilities (Part X, line 26)............. 3,117,746 5,039,812
22 Net assets or fund balances. Subtract line 21 from line 20..... 131,681,787 135,879,359
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name MediumBullet

Firm's EIN MediumBullet
Firm's address MediumBullet



Phone no.
May the IRS discuss this return with the preparer shown above? (see instructions) ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2019)
Form 990 (2019)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III..............
1
Briefly describe the organization’s mission: ACUMEN FUND IS WORKING TO CHANGE THE WAY THE WORLD TACKLES POVERTY BY INVESTING IN COMPANIES, LEADERS AND IDEAS. [SEE CONTINUATION ON SCHEDULE O]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 $128 MILLION IN 128 SOCIAL ENTERPRISES WORKING IN HEALTH CARE, ENERGY, EDUCATION/WORKFORCE DEVELOPMENT, WATER & SANITATION, HOUSING, FINANCIAL SERVICES, AND AGRICULTURE. WE ALSO INVEST IN BUILDING A GLOBAL COMMUNITY OF EMERGING LEADERS WORKING TO CREATE A MORE JUST, INCLUSIVE AND SUSTAINABLE WORLD THROUGH OUR ACUMEN FELLOWS PROGRAM AND ONLINE SCHOOL FOR SOCIAL CHANGE, +ACUMEN.THROUGH THESE EFFORTS, WE ARE WORKING TO CREATE SUSTAINABLE SOLUTIONS TO POVERTY.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 10,618,043 including grants of $ 914,297 ) (Revenue $ 769,843 )
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 INVESTED IN 11 NEW COMPANIES IN 2019, REACHING A CUMULATIVE $128 MILLION INVESTED IN 128 BUSINESSES SERVING THE POOR. [SEE CONTINUATION ON SCHEDULE O]IN THE FIRST QUARTER OF 2019, 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 PLANS OUTLINING THE SUPPORT REQUIRED BY ACUMEN TO HELP THE COMPANIES GROW. ACUMEN DIRECTLY SUPPORTED COMPANIES IN 2019 THROUGH OUR PARTICIPATION ON 71 COMPANY BOARDS, CONDUCTING 22 LEAN DATA IMPACT MEASUREMENT SURVEYS AND PROVIDING 14 NEW TECHNICAL ASSISTANCE GRANTS ALLOWING COMPANIES TO EXPERIMENT WITH HIGH-IMPACT PROJECTS AND PRODUCTS.
4b (Code:   ) (Expenses $ 5,653,586 including grants of $ 1,102,696 ) (Revenue $ 736,807 )
FELLOWS AND LEADERSHIP PROGRAMS ACUMEN'S FELLOWSHIP PROGRAM IN COLOMBIA, EAST AND WEST AFRICA, PAKISTAN AND INDIA BUILDS COHORTS OF LOCAL SOCIAL CHANGE LEADERS AND FACILITATES FIVE WEEK-LONG SEMINARS RANGING FROM HOLISTIC APPROACHES TO PROBLEM-SOLVING TO FRAMEWORKS FOR THRIVING IN CHALLENGING ENVIRONMENTS. AS OF THE END OF Q4 2019, A CUMULATIVE 544 ACUMEN FELLOWS HAVE PARTICIPATED IN OUR PROGRAM WORLDWIDE. IN 2019, ACUMEN EMBARKED ON AN AMBITIOUS VISION TO SPREAD ITS ETHOS BY LAUNCHING NEW FELLOWSHIP PROGRAMS WITH REGIONAL PARTNERS. [SEE CONTINUATION ON SCHEDULE O]OUR FIRST REGIONAL PARTNERS INCLUDE VISIONARY INDIVIDUALS AND FOUNDATIONS IN BANGLADESH, MALAYSIA AND SPAIN, WHOSE INAUGURAL COHORTS OF SOCIAL CHANGE LEADERS WILL BEGIN THEIR FELLOWSHIP IN EARLY 2020. BY OPERATING AS SEPARATE ENTITIES FROM ACUMEN, REGIONAL PARTNERS ALLOW US TO EXPAND OUR COMMUNITY OF FELLOWS FASTER THAN THROUGH OUR EXISTING SELF-OPERATED MODEL. IN 2019, WE ALSO EXPERIMENTED WITH NEW MODELS OF ENGAGEMENT FOR OUR GROWING COMMUNITY OF SOCIAL INNOVATORS. WE ARE PARTICULARLY EXCITED ABOUT THE SUCCESS OF WHAT WE CALL "CHALLENGES" DESIGNED TO ACCELERATE THE PROGRESS OF ENTREPRENEURS FOCUSED ON SPECIFIC PROBLEMS. OUR FIRST CHALLENGE, IN PARTNERSHIP WITH UNILEVER, ADDRESSED PLASTIC POLLUTION IMPACTING LOW-INCOME COMMUNITIES. THE ACUMEN-UNILEVER SOCIAL INNOVATION CHALLENGE ON PLASTICS RECEIVED NEARLY 100 SUBMISSIONS AND THREE WINNING TEAMS RECEIVED $25,000 AS WELL AS MENTORSHIP FROM UNILEVER TO START OR TO SCALE THEIR PLASTIC WASTE MANAGEMENT BUSINESS IDEAS. THIS SUCCESS WAS QUICKLY FOLLOWED BY A SECOND, LARGER CHALLENGE: THE ROCKEFELLER FOUNDATION-ACUMEN STUDENT INNOVATION CHALLENGE. IN PARTNERSHIP WITH THE ROCKEFELLER FOUNDATION, THIS CHALLENGE ENGAGED A NEW GENERATION OF STUDENT INNOVATORS TO ADDRESS PROBLEMS OF POVERTY. THE CHALLENGE RECEIVED ENTRIES FROM MORE THAN 5,500 STUDENTS IN 138 COUNTRIES; WINNERS, WHO WILL BE SELECTED IN 2020, WILL RECEIVE UP TO $20,000 TO SUPPORT THEIR IDEAS.IN 2019, WE MADE THE STRATEGIC DECISION TO BRING OUR LEADERSHIP PROGRAMS AND ONLINE CONTENT TOGETHER UNDER ONE ROOF AND NEWLY BRANDED AS ACUMEN ACADEMY. LAUNCHING IN EARLY 2020, THIS 'UNIVERSITY REIMAGINED' WILL BRING MORE THAN 500 ACUMEN FELLOWS TOGETHER WITH NEARLY 500,000 +ACUMEN COURSE-TAKERS TO FORM A POWERFUL, UNITED COMMUNITY OF SOCIAL INNOVATORS. TO BRING ACUMEN ACADEMY TO LIFE, WE DEVELOPED A NEW DIGITAL PLATFORM IN 2019 TO HOUSE OUR ONLINE COURSES, MASTER CLASSES, FELLOWSHIP CONTENT AND INNOVATION CHALLENGES, MAKING THIS CONTENT AVAILABLE TO ANYONE, ANYWHERE - EVEN AT DIFFERENT LEVELS OF TECHNOLOGY ACCESS. BY BRINGING OUR MULTIPLE LEARNING AND LEADERSHIP COMMUNITIES TOGETHER ON A SINGLE PLATFORM, ACUMEN ACADEMY CREATES THE POSSIBILITY FOR LEADERS TO FIND ONE ANOTHER, COLLABORATE AND FORM COMMUNITIES OF PRACTICE AROUND SOCIAL ISSUES - AND FOR NEW LEADERS TO JOIN US. FOR ACUMEN, HAVING ONE CENTRALIZED PLATFORM WILL ALSO GIVE US THE DEPTH OF DATA WE NEED TO SUPPORT AND SERVE THIS COMMUNITY MEANINGFULLY AND DRIVE EXPONENTIAL GROWTH AND SOCIAL INFLUENCE FOR THE FUTURE.
4c (Code:   ) (Expenses $ 5,410,605 including grants of $ 1,102,892 ) (Revenue $ 810,377 )
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 TO SOLVING POVERTY AND SHIFTING PUBLIC PERCEPTION TO SEE THE POTENTIAL OF LOW-INCOME PEOPLE.[SEE CONTINUATION ON SCHEDULE O]ACUMEN PUBLISHED TWO REPORTS IN 2019. IN PARTNERSHIP WITH UNILEVER, ACUMEN RELEASED A LEAN DATA HOW-TO GUIDE: UNDERSTANDING GENDER IMPACT IN JUNE 2019 TO PROVIDE A SIMPLE, EASY-TO-USE, AND ACTIONABLE TOOLKIT TO HELP BUSINESSES, PROGRAM DESIGNERS, AND INVESTORS MEASURE THEIR IMPACT SPECIFICALLY ON WOMEN AND GIRLS.ACUMEN'S INDUSTRY REPORT WITH OPEN CAPITAL ADVISORS, LIGHTING THE WAY:ROADMAP TO EXITS IN OFF-GRID ENERGY, PUBLISHED IN OCTOBER 2019, EXPLORES THE CHALLENGES LIMITING EXITS IN THE SECTOR, VIABLE PATHWAYS TO EXIT AND HOW COMPANIES, INVESTORS AND OTHER STAKEHOLDERS CAN - AND MUST - FACILITATE MORE OF THEM.ACUMEN ALSO PUBLISHES THE PROGRESS OF ITS WORK IN OTHER WAYS, INCLUDING SHARING THE STORIES OF OUR INVESTEES AS WELL AS ENTERPRISES LED BY ACUMEN FELLOWS. IN 2019, ACUMEN RAN A CAMPAIGN CALLED POWER WHAT'S POSSIBLE TO SHOWCASE SIX ACUMEN PORTFOLIO COMPANIES AND FOUR ACUMEN FELLOWS TRANSFORMING LOW-INCOME COMMUNITIES AROUND THE WORLD. THE CAMPAIGN RAN ON SOCIAL MEDIA AND THROUGH WEEKLY EMAIL COMMUNICATIONS FROM GIVING TUESDAY THROUGH NEW YEAR'S DAY.
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet21,682,234
Form 990 (2019)
Form 990 (2019)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors (see instructions)? Click to see attachment...
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I.............
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II.........
4
 
No
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If "Yes," complete Schedule C, Part III..
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment.........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part IIIClick to see attachment..............
8
 
No
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment..............
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......
10
 
No
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment.......
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment.......
11c
Yes
 
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment............
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XIIClick to see attachment......................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........Click to see attachment
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....Click to see attachment
15
Yes
 
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...Click to see attachment
16
 
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I(see instructions) ....
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....Click to see attachment
21
Yes
 
Form 990 (2019)
Form 990 (2019)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........Click to see attachment
22
 
No
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5 about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
 
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I .... Click to see attachment
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................Click to see attachment
25b
 
No
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part IIClick to see attachment...........
26
Yes
 
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part IIIClick to see attachment.........................
27
Yes
 
28
Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................Click to see attachment
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....Click to see attachment
28b
 
No
c
A 35% controlled entity of one or more individuals and/or organizations described in lines 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..Click to see attachment
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................Click to see attachment
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............Click to see attachment
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................Click to see attachment
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...Click to see attachment
35b
Yes
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VIClick to see attachment
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable ..
1a
62
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
 
 
Form 990 (2019)
Form 990 (2019)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
78
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
 
No
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
 
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
Yes
 
b
If "Yes," enter the name of the foreign country: MediumBulletGH , IN , KE , PK , CO , CA , UK , MP
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................
7a
 
No
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see instructions and file Form 4720, Schedule N.
15
 
No
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
 
No
Form 990 (2019)
Form 990 (2019)
Page 6
Part VI
Governance, Management, and Disclosure For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
14
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
13
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
Yes
 
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
 
No
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
Yes
 
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
Yes
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe in Schedule O how this was done...................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process in Schedule O (see instructions).
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filedMediumBullet
CA , FL , GA , IL , MD , MA , MI , NJ , NY , PA , WA , DC
18
Section 6104 requires an organization to make its Form 1023 (or 1024-A if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
MediumBulletJACQUELINE WOO CHIEF FINANCIAL OFFICER40 WORTH STREET NO 303   NEW YORK,NY10013 (646) 747-3958
Form 990 (2019)
Form 990 (2019)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) JACQUELINE NOVOGRATZ......................................................................
CEO & DIRECTOR
 38.00
.................
2.00 		X   X       359,281 0 28,347
(2) CARLYLE SINGER JONES......................................................................
PRESIDENT
 39.00
.................
1.00 		    X       303,864 0 22,053
(3) LYNN ROLAND......................................................................
BOARD SECRETARY / GENERAL COUNSEL
 29.50
.................
10.50 		    X       223,512 0 33,682
(4) JACQUELINE WOO......................................................................
CHIEF FINANCIAL OFFICER
 36.50
.................
3.50 		    X       223,645 0 33,076
(5) YASMINA ZAIDMAN......................................................................
CHIEF STRATEGIC PARTNERSHIPS OFFICER
 40.00
.................
  		      X     229,100 0 7,245
(6) CATHERINE C NANDA......................................................................
DIRECTOR, ACUMEN AMERICA
 40.00
.................
  		      X     191,628 0 30,669
(7) AMRITA BHANDARI......................................................................
CHIEF OF BUSINESS DEVELOPMENT
 40.00
.................
  		      X     206,423 0 6,565
(8) ALBERTO GOMEZ OBREGON......................................................................
DIRECTOR, PORTFOLIO
 39.50
.................
0.50 		      X     184,643 0 22,507
(9) JOANNA MCQUADE......................................................................
DIRECTOR, TALENT
 40.00
.................
  		      X     189,526 0 14,753
(10) WILLIAM CHARNOCK CHIEF......................................................................
MARKETING OFFICER AS OF APRIL 2019
 40.00
.................
  		      X     183,875 0 17,011
(11) ELEANOR MURPHY HEAD OF......................................................................
BUSINESS DEVELOPMENT, EAST COAST
 39.50
.................
0.50 		        X   173,541 0 20,588
(12) JO-ANN TAN......................................................................
DIRECTOR, LEADERSHIP
 40.00
.................
  		      X     173,506 0 5,577
(13) AMON ANDERSON......................................................................
DIRECTOR, ACUMEN AMERICA
 40.00
.................
  		        X   163,050 0 13,893
(14) VIRGILIO BARCO......................................................................
DIRECTOR, LATIN AMERICA
 40.00
.................
  		        X   148,031 0 22,182
(15) BATOOL HASSAN......................................................................
DIRECTOR, LEADERSHIP
 40.00
.................
  		        X   154,627 0 5,011
(16) ALEXANDRA TRABULSI HEAD OF......................................................................
BUSINESS DEVELOPMENT, WEST COAST
 40.00
.................
  		        X   150,000 0 3,747
(17) ALEXANDER DICHTER CHIEF......................................................................
INNOVATION OFFICER THRU MARCH 2019
 40.00
.................
  		          X 105,769 0 9,505
Form 990 (2019)
Form 990 (2019)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) SHAIZA RIZAVI........................................................................
BOARD CHAIR
 1.00
.......................   		X   X       0 0 0
(19) DAVID HELLER........................................................................
BOARD CHAIR THRU APRIL 2019
 1.00
.......................   		X   X       0 0 0
(20) MARGO ALEXANDER........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(21) C HUNTER BOLL........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(22) KATHLEEN CHEW WAI LIN........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(23) ROBERT BOB COLLYMORE........................................................................
DIRECTOR THRU JULY 2019
 1.00
.......................   		X           0 0 0
(24) STUART DAVIDSON........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(25) JULIUS GAUDIO........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(26) NATE LAURELL........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(27) CRISTINA LJUNBERG........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(28) PAT MITCHELL........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(29) KIRSTEN NEVILL-MANNING........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(30) KAREN PATERSON........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(31) THULASIRAJ RAVILLA........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(32) ANDREA SOROS COLOMBEL........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)...........MediumBullet 3,364,021 0 296,411
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization MediumBullet25
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
TAMER EL-RAGHY

68 ALBOSTAN COMPOUND
OCTOBER CITY,GIZA  
EG 		CONSULTANT FOR ARAF 249,354
WALL STREET IT MANAGEMENT

111 W 33RD STREET
NEW YORK,NY10001 		TECHNOLOGY 236,745
ADP TOTAL SOURCE GROUP INC

10200 SUNSET DRIVE
MIAMI,FL33173 		PEO SERVICE FEE 160,180
THE BUSARA CENTER FOR BEHAVIORAL ECONOMI

DAYKIO PLAZA 5TH FL
NGONG LANE,NAIROBI  
KE 		BEHAVIORAL SCIENCE CONSULTING 145,222
PKF O'CONNOR DAVIES LLP

665 FIFTH AVE
NEW YORK,NY10022 		PROFESSIONAL SERVICES 136,250
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet6
Form 990 (2019)
Form 990 (2019)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, GrantAmt and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c  
d Related organizations1d  
e Government grants (contributions)1e 2,949,421
f All other contributions, gifts, grants, and similar amounts not included above1f 22,453,149
g Noncash contributions included in lines 1a - 1f:$ 1g 567,116
h Total. Add lines 1a-1f.......MediumBullet 25,402,570
Program Service RevenueAmt Business Code
2a PROGRAMMATIC FEES 900099 1,432,198 1,432,198    
b LEAN DATA FEES 900099 518,795 518,795    
c PGM RELATED LOAN INCOME 900099 316,034 316,034    
d PORTFOLIO DILIGENCE FEE INCOME 900099 50,000 50,000    
e
f All other program service revenue.        
g Total. Add lines 2a–2f .....MediumBullet 2,317,027
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ......MediumBullet 284,685     284,685
4 Income from investment of tax-exempt bond proceedsMediumBullet        
5 Royalties...........MediumBullet        
(ii) Personal (i) Real
6a Gross rents     6a
b Less: rental expenses     6b
c Rental income or (loss)     6c
d Net rental income or (loss).......MediumBullet        
(ii) Other (i) Securities
7a Gross amount from sales of assets other than inventory 3,082,531 1,512,281 7a
b Less: cost or other basis and sales expenses 0 2,123,453 7b
c Gain or (loss) 3,082,531 -611,172 7c
d Net gain or (loss).........MediumBullet 2,471,359     2,471,359
8a Gross income from fundraising events (not including $   of contributions reported on line 1c). See Part IV, line 18 ....
8a  
b Less: direct expenses ... 8b  
c Net income or (loss) from fundraising events..MediumBullet      
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a  
b Less: direct expenses ... 9b  
c Net income or (loss) from gaming activities..MediumBullet        
10a Gross sales of inventory, less
returns and allowances ..
10a  
b Less: cost of goods sold .. 10b  
c Net income or (loss) from sales of inventory..MediumBullet        
Business Code Miscellaneous Revenue
11a DEVELOPMENT COST REIMBURSEMENT 900099 450,000     450,000
b REIMBURSEMENT/OTHER 900099 41,207     41,207
c            
d All other revenue ....        
e Total. Add lines 11a–11d ...... MediumBullet 491,207
12 Total revenue. See instructions.....MediumBullet 30,966,848 2,317,027 0 3,247,251
Form 990 (2019)
Form 990 (2019)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising
expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 2,676,813 2,676,813
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ........... 1,737 1,737
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. ............. 441,336 441,336
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 2,690,488 1,918,192 287,277 485,019
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ......... 417,804 417,804    
7 Other salaries and wages........ 8,154,033 5,787,272 524,729 1,842,032
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 321,394 227,975 26,180 67,239
9 Other employee benefits ....... 485,300 329,900 23,053 132,347
10 Payroll taxes ........... 732,359 513,935 60,749 157,675
11 Fees for services (non-employees):        
a Management ...... 177,183 118,596 13,239 45,348
b Legal ......... 331,694 173,532 153,134 5,028
c Accounting ........... 164,377 106,507 25,448 32,422
d Lobbying ...........        
e Professional fundraising services. See Part IV, line 17    
f Investment management fees ......        
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 2,252,495 2,138,117 90,204 24,174
12 Advertising and promotion .... 198,810 176,322 21,900 588
13 Office expenses ....... 245,292 153,862 36,964 54,466
14 Information technology ...... 1,010,813 806,795 105,684 98,334
15 Royalties ..        
16 Occupancy ........... 876,364 597,197 87,324 191,843
17 Travel ............ 790,222 645,442 64,237 80,543
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings .... 259,634 213,912 23,630 22,092
20 Interest ...........        
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .. 191,731 141,467 13,191 37,073
23 Insurance ... 77,777 50,112 8,868 18,797
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a PROV FOR PORTFOLIO LOSS 3,965,162 3,965,162    
b CORPORATE TAXES/OTHER 89,324 66,084 2,333 20,907
c OTHER DIRECT OPERATING 17,735 14,163 2,819 753
d
e All other expenses        
25 Total functional expenses. Add lines 1 through 24e 26,569,877 21,682,234 1,570,963 3,316,680
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2019)
Form 990 (2019)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........ 404,673 1 487,896
2 Savings and temporary cash investments ......... 44,833,592 2 44,765,207
3 Pledges and grants receivable, net ...... 28,758,865 3 24,288,449
4 Accounts receivable, net ............. 1,797,371 4 1,841,125
5 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
0 5 3,413,075
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
  6  
7 Notes and loans receivable, net ...........   7  
8 Inventories for sale or use ............   8  
9 Prepaid expenses and deferred charges ...... 292,461 9 378,654
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 2,136,005
b Less: accumulated depreciation 10b 1,830,824 294,664 10c 305,181
11 Investments—publicly traded securities .   11  
12 Investments—other securities. See Part IV, line 11 ..... 500,959 12 500,959
13 Investments—program-related. See Part IV, line 11 .. 57,189,634 13 64,055,890
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 727,314 15 882,735
16 Total assets. Add lines 1 through 15 (must equal line 33)... 134,799,533 16 140,919,171
Liabilities 17 Accounts payable and accrued expenses ..... 3,117,746 17 2,847,209
18 Grants payable ...   18  
19 Deferred revenue .........   19 804,470
20 Tax-exempt bond liabilities .........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D   21  
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
  22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ..   24  
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D 0 25 1,388,133
26 Total liabilities. Add lines 17 through 25.. 3,117,746 26 5,039,812
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here MediumBullet and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions .......... 80,406,347 27 86,591,977
28 Net assets with donor restrictions ........... 51,275,440 28 49,287,382
Organizations that do not follow FASB ASC 958, check here MediumBullet and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds .....   29  
30 Paid-in or capital surplus, or land, building or equipment fund ...   30  
31 Retained earnings, endowment, accumulated income, or other funds   31  
32 Total net assets or fund balances ........... 131,681,787 32 135,879,359
33 Total liabilities and net assets/fund balances ........ 134,799,533 33 140,919,171
Form 990 (2019)
Form 990 (2019)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
30,966,848
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
26,569,877
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
4,396,971
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
131,681,787
5
Net unrealized gains (losses) on investments ...............
5
 
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
-199,399
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
135,879,359
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133?
3a
 
No
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
 
 
Form 990 (2019)
Form 990 (2019)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Name of the organization
ACUMEN FUND INC
 
Employer identification number

13-4166228
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions.
The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)
1
2
3
4
5
6
7
8
9
10
11
12
a
b
c
d
e
f
Enter the number of supported organizations ...............................  
g
Provide the following information about the supported organization(s).
(i) Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 10 above (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
Total
 
   
For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2019

Schedule A (Form 990 or 990-EZ) 2019
Page 2
Part II
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2015 (b) 2016 (c) 2017 (d) 2018 (e) 2019 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. 22,558,173 29,176,704 27,693,548 35,753,189 25,402,570 140,584,184
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf....            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3 22,558,173 29,176,704 27,693,548 35,753,189 25,402,570 140,584,184
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f).. 39,083,280
6 Public support. Subtract line 5 from line 4. 101,500,904
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2015 (b) 2016 (c) 2017 (d) 2018 (e) 2019 (f) Total
7 Amounts from line 4.. 22,558,173 29,176,704 27,693,548 35,753,189 25,402,570 140,584,184
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... 60,003 96,765 73,572 78,195 284,685 593,220
9 Net income from unrelated business activities, whether or not the business is regularly carried on..       60,770   60,770
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. 2,151 554,566 162,649 272,711 491,207 1,483,284
11 Total support. Add lines 7 through 10 142,721,458
12
12
8,367,830
13
First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here........................................right arrow
Section C. Computation of Public Support Percentage
14
14
71.120 %
15
15
80.560 %
16a
b
17a
b
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990 or 990-EZ) 2019

Schedule A (Form 990 or 990-EZ) 2019
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2015 (b) 2016 (c) 2017 (d) 2018 (e) 2019 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose            
3 Gross receipts from activities that are not an unrelated trade or business under section 513 .....            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge            
6 Total. Add lines 1 through 5            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public support. (Subtract line 7c from line 6.)  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2015 (b) 2016 (c) 2017 (d) 2018 (e) 2019 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.)..            
14
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
b
20
Schedule A (Form 990 or 990-EZ) 2019

Schedule A (Form 990 or 990-EZ) 2019
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 12 of Part I. If you checked 12a of Part I, complete Sections A and B. If you checked 12b of Part I, complete Sections A and C. If you checked 12c of Part I, complete Sections A, D, and E. If you checked 12d of Part I, complete Sections A and D, and complete Part V.)
Section A. All Supporting Organizations
Yes
No
1
Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.
1
 
 
2
Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).
2
 
 
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer (b) and (c) below.
3a
 
 
b
Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.
3b
 
 
c
Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.
3c
 
 
4a
Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked 12a or 12b in Part I, answer (b) and (c) below.
4a
 
 
b
Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.
4b
 
 
c
Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.
4c
 
 
5a
Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer (b) and (c) below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).
5a
 
 
b
Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.
6
 
 
7
Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990 or 990-EZ) .
7
 
 
8
Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part I of Schedule L (Form 990 or 990-EZ).
8
 
 
9a
Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.
9a
 
 
b
Did one or more disqualified persons (as defined in line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.
9b
 
 
c
Did a disqualified person (as defined in line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.
9c
 
 
10a
Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.
10a
 
 
b
Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).
10b
 
 
Schedule A (Form 990 or 990-EZ) 2019

Schedule A (Form 990 or 990-EZ) 2019
Page 5
Part IV
Supporting Organizations (continued)
Yes
No
11
Has the organization accepted a gift or contribution from any of the following persons?
a
A person who directly or indirectly controls, either alone or together with persons described in (b) and (c) below, the governing body of a supported organization?
11a
 
 
b
A family member of a person described in (a) above?
11b
 
 
c
A 35% controlled entity of a person described in (a) or (b) above? If “Yes” to a, b, or c, provide detail in Part VI.
11c
 
 
Section B. Type I Supporting Organizations
Yes
No
1
Did the directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.
1
 
 
2
Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.
2
 
 
Section C. Type II Supporting Organizations
Yes
No
1
Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?
1
 
 
2
Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).
2
 
 
3
By reason of the relationship described in (2), did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer (a) and (b) below.
Yes
No
a
Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.
2a
 
 
b
Did the activities described in (a) constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.
2b
 
 
3
Parent of Supported Organizations. Answer (a) and (b) below.
a
Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations? Provide details in Part VI.
3a
 
 
b
Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.
3b
 
 
Schedule A (Form 990 or 990-EZ) 2019

Schedule A (Form 990 or 990-EZ) 2019
Page 6
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations
1
Section A - Adjusted Net Income (A) Prior Year (B) Current Year
(optional)
1 Net short-term capital gain 1    
2 Recoveries of prior-year distributions 2    
3 Other gross income (see instructions) 3    
4 Add lines 1 through 3 4    
5 Depreciation and depletion 5    
6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6    
7 Other expenses (see instructions) 7    
8 Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) 8    
Section B - Minimum Asset Amount (A) Prior Year (B) Current Year
(optional)
1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): 1
a Average monthly value of securities 1a    
b Average monthly cash balances 1b    
c Fair market value of other non-exempt-use assets 1c    
d Total (add lines 1a, 1b, and 1c) 1d    
e Discount claimed for blockage or other factors
(explain in detail in Part VI):  
2 Acquisition indebtedness applicable to non-exempt use assets 2    
3 Subtract line 2 from line 1d 3    
4 Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions). 4    
5 Net value of non-exempt-use assets (subtract line 4 from line 3) 5    
6 Multiply line 5 by .035 6    
7 Recoveries of prior-year distributions 7    
8 Minimum Asset Amount (add line 7 to line 6) 8    
Section C - Distributable Amount Current Year
1 Adjusted net income for prior year (from Section A, line 8, Column A) 1  
2 Enter 85% of line 1 2  
3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3  
4 Enter greater of line 2 or line 3 4  
5 Income tax imposed in prior year 5  
6 Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) 6  
7
Schedule A (Form 990 or 990-EZ) 2019

Schedule A (Form 990 or 990-EZ) 2019
Page 7
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)
Section D - Distributions Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity		  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations  
4 Amounts paid to acquire exempt-use assets  
5 Qualified set-aside amounts (prior IRS approval required)  
6 Other distributions (describe in Part VI). See instructions  
7Total annual distributions. Add lines 1 through 6.  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions		  
9 Distributable amount for 2019 from Section C, line 6  
10 Line 8 amount divided by Line 9 amount  
Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2019 		(iii)
Distributable
Amount for 2019
1 Distributable amount for 2019 from Section C, line 6  
2 Underdistributions, if any, for years prior to 2019 (reasonable cause required-- explain in Part VI).
See instructions.		  
3 Excess distributions carryover, if any, to 2019:
a From 2014.......  
b From 2015.......  
c From 2016.......  
d From 2017.......  
e From 2018.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2019 distributable amount  
i Carryover from 2014 not applied (see
instructions) 		 
j Remainder. Subtract lines 3g, 3h, and 3i from 3f.  
4Distributions for 2019 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2019 distributable amount  
c Remainder. Subtract lines 4a and 4b from 4.  
5 Remaining underdistributions for years prior to
2019, if any. Subtract lines 3g and 4a from line 2.
If the amount is greater than zero, explain in Part VI.
See instructions.		  
6 Remaining underdistributions for 2019. Subtract
lines 3h and 4b from line 1. If the amount is greater
than zero, explain in Part VI. See instructions.		  
7 Excess distributions carryover to 2020. Add lines
3j and 4c.		  
8 Breakdown of line 7:
a Excess from 2015.....  
b Excess from 2016.....  
c Excess from 2017.....  
d Excess from 2018.....  
e Excess from 2019.....  
Schedule A (Form 990 or 990-EZ) (2019)

Schedule A (Form 990 or 990-EZ) 2019
Page 8
Part VI
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Return Reference Explanation
SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER FEES/INCOME - 2015 AMOUNT: $ 6. 2016 AMOUNT: $ 24,568. 2017 AMOUNT: $ 2,596. 2018 AMOUNT: $ 2,407. SPEAKER FEE - 2015 AMOUNT: $ 2,145. REIMBURSEMENT/OTHER - 2016 AMOUNT: $ 529,998. 2017 AMOUNT: $ 10,053. 2018 AMOUNT: $ 65,133. 2019 AMOUNT: $ 41,207. EARLY TERMINATION FEE - 2017 AMOUNT: $ 150,000. 2018 AMOUNT: $ 205,171. DEVELOPMENT COST REIMBURSEMENT - 2019 AMOUNT: $ 450,000.
Schedule A (Form 990 or 990-EZ) 2019


Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Name of the organization
ACUMEN FUND INC
 
Employer identification number

13-4166228
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ






Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2019)
Schedule B (Form 990, 990-EZ, or 990-PF) (2019) Page 2
Name of organization
ACUMEN FUND INC
  		Employer identification number
13-4166228
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
RESTRICTED
 
 
 
 
  ,    

$ RESTRICTED


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2019)
Schedule B (Form 990, 990-EZ, or 990-PF) (2019)
Page 3
Name of organization
ACUMEN FUND INC
  		Employer identification number

13-4166228
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2019)
Schedule B (Form 990, 990-EZ, or 990-PF) (2019)
Page 4
Name of organization
ACUMEN FUND INC
  		Employer identification number

13-4166228
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2019)

Additional Data


Software ID:  
Software Version:  
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet Attach to Form 990.
SchDMd Bullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2019
Open to Public Inspection
Name of the organization
ACUMEN FUND INC
 
Employer identification number

13-4166228
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ...................... 2a  
b Total acreage restricted by conservation easements .................... 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 7/25/06, and not on a historic structure listed in the National Register ... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1 .........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2019

Schedule D (Form 990) 2019
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back
1a Beginning of year balance ....          
b Contributions ...          
c Net investment earnings, gains, and losses          
d Grants or scholarships ...          
e Other expenditures for facilities
and programs ... 		         
f Administrative expenses ....          
g End of year balance ......          
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet  
b
Permanent endowment SchDMd Bullet  
c
Term endowment SchDMd Bullet  
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
 
 
(ii) Related organizations .................
3a(ii)
 
 
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment) 		(b) Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .....      
b Buildings ....        
c Leasehold improvements   364,765 324,490 40,275
d Equipment ....   1,029,650 901,239 128,411
e Other .....   741,590 605,095 136,495
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..SchDMdBullet 305,181
Schedule D (Form 990) 2019

Schedule D (Form 990) 2019
Page 3
Part VII
Investments—Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1) Financial derivatives.........    
(2) Closely-held equity interests........    
(3)Other
(B)
(C)
(D)
(E)
(F)
(G)
(H)
(I)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet  
Part VIII
Investments—Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)PROGRAM RELATED EQUITY INVESTMENTS - NORTH AMERICA 21,509,425 C
(2)PROGRAM RELATED EQUITY INVESTMENTS - SUB-SAHARAN AFRICA 13,958,557 C
(3)PROGRAM RELATED EQUITY INVESTMENTS - S.ASIA 14,184,579 C
(4)PROGRAM RELATED EQUITY INVESTMENTS - LATIN AMERICA 3,805,003 C
(5)PROGRAM RELATED EQUITY INVESTMENTS - EUROPE 1,668,528 C
(6)PROGRAM RELATED DEBT INVESTMENTS - CENTRAL AMERICA AND THE CARRIBEAN 275,000 C
(7)PROGRAM RELATED DEBT INVESTMENTS - NORTH AMERICA 5,119,563 C
(8)PROGRAM RELATED DEBT INVESTMENTS - SUB-SAHARAN AFRICA 1,609,736 C
(9)PROGRAM RELATED DEBT INVESTMENTS - S.ASIA 1,285,089 C
(10)PROGRAM RELATED DEBT INVESTMENTS - LATIN AMERICA 640,410 C
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet 64,055,890
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes  
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 1,388,133
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2019

Schedule D (Form 990) 2019
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1 33,424,194
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b 2,764,836
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d 33,212
e Add lines 2a through 2d ..................... 2e 2,798,048
3 Subtract line 2e from line 1.................. 3 30,626,146
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b 340,702
c Add lines 4a and 4b.................... 4c 340,702
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 30,966,848
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1 28,795,303
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a 2,764,836
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d 3,425,752
e Add lines 2a through 2d.................... 2e 6,190,588
3 Subtract line 2e from line 1................... 3 22,604,715
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ............ 4b 3,965,162
c Add lines 4a and 4b..................... 4c 3,965,162
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 26,569,877
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
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 APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2016.
PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST 246,965. RELATED PARTY REVENUE INCLUDED PER AUDIT-ACUMEN FUND INDIA 596,968. RELATED PARTY REVENUE INCLUDED PER AUDIT-ACUMEN FUND INDIA TRUST 968,502. RELATED PARTY REVENUE INCLUDED PER AUDIT-ACUMEN FUND PAKISTAN 157,300. RELATED PARTY REVENUE INCLUDED PER AUDIT-ACUMEN CAPITAL MARKETS I LP 262. RELATED PARTY REVENUE INCLUDED PER AUDIT-ACUMEN FUND CANADA 204,812. RELATED PARTY REVENUE INCLUDED PER AUDIT-ACUMEN CAPITAL PARTNERS LLC 1,937,700. ELIMINATING/CONSOLIDATING ENTRIES PER AUDIT -114,135. PROVISION FOR PORTFOLIO LOSSES RECLASSIFICATION -3,965,162.
PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF FIXED ASSETS 5,138. UNREALIZED INVESTMENT LOSS ALLOCATION 335,564.
PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN FUND INDIA 830,294. RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN FUND INDIA TRUST 244,555. RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN FUND PAKISTAN 502,561. RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN CAPITAL MARKETS I LP 890,062. RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN CANADA 1,247. RELATED PARTY EXPENSES INCLUDED PER AUDIT - ACUMEN CAPITAL PARTNERS LLC 1,586,928. ELIMINATING/CONSOLIDATING ENTRIES PER AUDIT -629,895.
PART XII, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR PORTFOLIO LOSSES RECLASSIFICATION 3,965,162.
Schedule D (Form 990) 2019


Additional Data


Software ID:  
Software Version:  




SCHEDULE F(Form 990)
Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right pointing arrow large image Complete if the organization answered "Yes" to Form 990, Part IV, line 14b, 15, or 16.Right pointing arrow large image Attach to Form 990.Right pointing arrow large image Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2019
Open to Public Inspection
Name of the organization
ACUMEN FUND INC
 
Employer identification number

13-4166228
Part I
General Information on Activities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of its grants and
other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria used
to award the grants or assistance? . . . . . . . . . . . . . . . . . . . . . . . . .
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.
3
Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in the region (d) Activities conducted in region (by type) (such as, fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in the region		 (f) Total expenditures
for and investments
in the region
SOUTH ASIA 2 40 PROGRAM SERVICE PORTFOLIO MANAGEMENT AND LEADERSHIP PROGRAM 628,197
SUB-SAHARAN AFRICA 2 109 PROGRAM SERVICE PORTFOLIO MANAGEMENT AND LEADERSHIP PROGRAM 2,001,680
SOUTH AMERICA 1 34 PROGRAM SERVICE PORTFOLIO MANAGEMENT AND LEADERSHIP PROGRAM 1,088,335
EUROPE 1 24 PROGRAM SERVICES LEADERSHIP PROGRAM AND FUNDRAISING 1,565,813
NORTH AMERICA 0 2 PROGRAM SERVICE LEADERSHIP PROGRAM 121,999
SOUTH ASIA 0 0 PROGRAM RELATED INVESTMENTS   15,469,669
SUB-SAHARAN AFRICA 0 0 PROGRAM RELATED INVESTMENTS   15,568,293
SOUTH AMERICA 0 0 PROGRAM RELATED INVESTMENTS   4,445,414
EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM RELATED INVESTMENTS   1,668,528
NORTH AMERICA 0 0 PROGRAM RELATED INVESTMENTS   405,401
CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM RELATED INVESTMENTS   275,000
SOUTH ASIA 0 0 GRANT MAKING   30,000
SUB-SAHARAN AFRICA 0 0 GRANT MAKING   321,245
SOUTH AMERICA 0 0 GRANT MAKING   56,104
EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANT MAKING   8,987
NORTH AMERICA 0 0 GRANT MAKING   25,000
           
3a Sub-total .... 6 209 40,889,400
b Total from continuation sheets to Part I ... 0 0 2,790,265
c Totals (add lines 3a and 3b) 6 209 43,679,665
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2019
Schedule F (Form 990) 2019
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (c) Region (d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount
of noncash
assistance 		(h) Description
of noncash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
SUB-SAHARAN AFRICA IMPACT ASSESSMENTS 264,261 WIRE TRANSFER      
LATIN AMERICA TECHNICAL ASSISTANCE 6,547 WIRE TRANSFER      
SOUTH ASIA ENGAGING A CONSULTANT TO EXPLORE IMPACT AND BUSINESS OPPORTUNITY 20,000 WIRE TRANSFER      
LATIN AMERICA BRAND STRATEGY AND IMPLEMENTATION OF A SUCCESSFUL GO TO MARKET PLAN FOR ENTRY INTO INTERNATIONAL MARKETS 10,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA TEST NEW PRODUCT AND BEGIN NEW COUNTRY OPERATIONS 11,000 WIRE TRANSFER      
NORTH AMERICA TO ADVANCE THE ACHIEVEMENT OF CHANGING SOCIAL AND ENVIRONMENTAL IMPACT OF PLASTIC WASTE 25,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA ENGAGE AN ADVISOR TO PROVIDE LEGAL AND TAX ADVISORY SERVICES FOR ESTABLISHING A PAN AFRICAN HOLDING COMPANY 25,000 WIRE TRANSFER      
SOUTH ASIA DESIGN AND PILOT MINI MILK CHILLERS AND REFRIGERATED TRUCKS FOR VILLAGE COLLECTION CENTERS 10,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA SUPPORT TOWARDS MAKING RESIDENTIAL RECYCLING MORE ACCESSIBLE, INCLUSIVE AND REWARDING 15,000 WIRE TRANSFER      
EUROPE FINANCE THE CREATION OF CUSTOMER SURVEYING TOOLS AND PRACTICES 8,000 WIRE TRANSFER      
LATIN AMERICA ENGAGE A STRATEGY CONSULTANT 10,000 WIRE TRANSFER      
LATIN AMERICA SUPPORT TO INCREASE OPPORTUNITIES FOR SOCIOECONOMIC DEVELOPMENT THROUGH SUSTAINABLE ATTITUDES 25,000 WIRE TRANSFER      
             
             
             
             
2 Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .......MediumBullet
0
3 Enter total number of other organizations or entities .......................MediumBullet
12
Schedule F (Form 990) 2019
Schedule F (Form 990) 2019Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 16.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
noncash
assistance 		(g) Description
of noncash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2019
Schedule F (Form 990) 2019
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to separately file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; don't file with Form 990). . . . . . . . . . . . . . . . . . . . . . . .
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471). . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621) .
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships (see Instructions for Form 8865). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to separately file Form 5713, International Boycott Report (see Instructions for Form 5713; don't file with Form 990).. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedule F (Form 990) 2019
Schedule F (Form 990) 2019
Page 5
Part V
Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information. See instructions.
ReturnReference Explanation
PART I, LINE 2: THE ORGANIZATION MAKES LARGE GRANTS TO ITS RELATED ENTITIES TO FUND THEIR OPERATIONS, THE ACTIVITIES OF WHICH ARE MONITORED BY THE ORGANIZATION. ACUMEN MONITORS THE ACTIVITY OF ITS RELATED ENTITIES BY ANALYZING EXPENDITURES AND COMPARING ACTUAL PERFORMANCE TO BUDGETED AMOUNTS, AND BY MAINTAINING DIRECT OVERSIGHT OF THE ACTIVITIES CONDUCTED AND EXPENDITURES INCURRED. OUR AFFILIATES IN 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 PERIODIC REPORTS SUBMITTED BY THE GRANTEE TO ENSURE PROPER UTILIZATION OF GRANT FUNDS BY THE GRANTEE. GRANT AGREEMENTS OFTEN REQUIRE THE RIGHT TO INSPECT AND AUDIT THE RECORDS OF THE GRANTEE REGARDING PROPER USE OF FUNDS. THE GRANT AGREEMENT SIGNED BY THE GRANTEE TYPICALLY STATES THAT ALL OR ANY PORTION OF GRANT FUNDS USED IN A MANNER OR PURPOSE OTHER THAN THOSE DESCRIBED IN THE GRANT AGREEMENT MUST BE RETURNED TO ACUMEN.
PART I, LINE 3: PROGRAM-RELATED INVESTMENTS: THE ORGANIZATION HAS A COMPLEX FINANCIAL STRUCTURE THAT IS NOT EASILY SHOWN IN THE FORM 990. TO BETTER UNDERSTAND THE INFORMATION BEING PROVIDED, THE READER SHOULD APPROACH THE FINANCIAL STATEMENTS WITH TWO KEY PIECES OF INFORMATION IN MIND. FIRST, ACUMEN 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 DOMESTICALLY OR IN DEVELOPING COUNTRIES. THESE INVESTMENTS 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 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.
PART III ACCOUNTING METHOD:  
SCHEDULE F, PART IV, LINE 1, 3 AND LINE 5 THE ORGANIZATION IS REQUIRED TO FILE FORMS 926, 5471, AND FORM 8865.
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule F (Form 990) 2019
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Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Name of the organization
ACUMEN FUND INC
 
Employer identification number
13-4166228
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient
that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
(if applicable)		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
noncash assistance		 (h) Purpose of grant
or assistance
(1) 60 DECIBELS INC
205 EAST 42 STREET FL 20
NEW YORK,NY10017 		83-2847769   838,153       STRENGTHENING IMPACT INVESTING MARKETS FOR AGRICULTURE (SIIMA) AND AFRICA POULTRY MULTIPLICATION INITIATIVE (APMI)
(2) AZAHAR COFFEE COMPANY LLC
325 E 77TH STREET APT 6G
NEW YORK,NY10075 		45-3537132   40,000       SUPPORT DEVELOPMENT OF A GUIDE TO DRIVE INCREASED INCOME FOR SMALLHOLDER COFFEE FARMERS
(3) AZIMUTH GROUP CORP
1 GRAND ARMY PLAZA APT 14B
BROOKLYN,NY11238 		81-2651720   18,230       INCREASE EFFECTIVENESS OF SALES TEAM, PROCESSES AND TRAINING METHODS
(4) BIOLITE INC
65 JAY STREET
BROOKLYN,NY11201 		27-2826296   20,000       DEVELOP, FIELD TEST AND MANUFACTURE A COMPREHENSIVE SOLAR-ENABLED HOME ENERGY SYSTEM
(5) IDINSIGHT
576 SACRAMENTO STREET 1ST FLOOR
SAN FRANCISCO,CA94111 		27-4933181 501(C)(3) 472,274       ETHIOCHICKEN IMPACT EVALUATIONS/AFRICA POULTRY MULTIPLICATION INITIATIVE
(6) MASSACHUSETTS INSTITUTE OF TECHNOLOGY
77 MASSACHUSETTS AVE NE49-31
CAMBRIDGE,MA02139 		04-2103594 501(C)(3) 95,000       SUPPORT NEXT GENERATION OF SOCIAL INNOVATORS THROUGH BIG IDEAS
(7) REGENTS OF THE UNIVERSITY OF CALIFORNIA
1156 HIGH ST
SANTA CRUZ,CA95064 		94-1539563 501(C)(3) 700,000       SUPPORT NEXT GENERATION OF SOCIAL INNOVATORS THROUGH BIG IDEAS
(8) REGENTS OF THE UNIVERSITY OF MICHIGAN
500 S STATE STREET
ANN ARBOR,MI48109 		38-6006309 501(C)(3) 40,000       SUPPORT NEXT GENERATION OF SOCIAL INNOVATORS THROUGH BIG IDEAS
(9) SANERGY INC
PO BOX 550288
ATLANTA,GA30355 		27-4528974   20,000       DEVELOP A MARKETING STRATEGY TO SUPPORT THE EFFORTS OF RESELLERS
(10) SHIMMY TECHNOLOGIES GROUP INC
19 MORRIS AVE
BROOKLYN,NY11205 		36-4863487   50,000       SUPPORT RESOURCING EXPENSES TO INCREASE BUSINESS DEVELOPMENT AND SALES LEADS
(11) SIMUSOLAR INC
548 MARKET STREET UNIT 76691
SAN FRANCISCO,CA94104 		47-2154274   27,500       IMPLEMENT LOAN MANAGEMENT TOOL AND FINANCE DEVELOPMENT COSTS OF 2ND GENERATION FISHING LIGHTS
(12) TANAGER
50 F STREET NW NO 1000
WASHINGTON,DC20001 		52-1826242 501(C)(3) 135,767       SUPPORT POULTRY COMPANIES IMPROVE HOUSEHOLD NUTRITION AND EMPOWER WOMEN THROUGH THEIR BUSINESS MODELS
(13) THE RESOLUTION PROJECT
420 LEXINGTON AVENUE 1626
NEW YORK,NY10170 		26-4394051 501(C)(3) 30,000       SUPPORT NEXT GENERATION OF SOCIAL INNOVATORS THROUGH BIG IDEAS
(14) UPCHIEVE INC
150 COURT ST FLOOR 2
BROOKLYN,NY11201 		82-4456163 501(C)(3) 50,000       FINANCE OPERATING EXPENSES TO SUPPORT MISSION
(15) UNIVERSITY OF SAN DIEGO
5998 ALCALA PARK
SAN DIEGO,CA92110 		95-2544535 501(C)(3) 125,000       SUPPORT NEXT GENERATION OF SOCIAL INNOVATORS THROUGH BIG IDEAS
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
8
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
7
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2019

Schedule I (Form 990) 2019
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Number of
recipients		 (c) Amount of
cash grant		 (d) Amount of
noncash assistance		 (e) Method of valuation (book,
FMV, appraisal, other)		 (f) Description of noncash assistance
(1)
(2)
(3)
(4)
(5)
(6)
(7)
Part IV
Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.
Return Reference Explanation
PART I, LINE 2: IN ALL CASES, THE ORGANIZATION HAS A THOROUGH UNDERSTANDING OF THE WORK BEING UNDERTAKEN AND A FAMILIARITY WITH THE GRANTEE UNDERTAKING THE WORK. FOLLOW UP MONITORING IS PERFORMED BY VERBAL CHECK-INS, PERIODIC PROGRESS REPORTS AND FINAL WRITTEN GRANT PERFORMANCE REPORTS AT THE CONCLUSION OF THE GRANT PERIOD.
Schedule I (Form 990) 2019



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Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
SchJMediumBullet Attach to Form 990.
SchJMediumBullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2019
Open to Public Inspection
Name of the organization
ACUMEN FUND INC
 
Employer identification number

13-4166228
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .........
1b
 
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ..
2
 
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? .............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ....................
5a
 
No
b
Any related organization? .......................
5b
 
No
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ..................
6a
 
No
b
Any related organization? ......................
6b
 
No
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
Yes
 
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................
8
 
No
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2019

Schedule J (Form 990) 2019
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column (B) reported as deferred on prior Form 990
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1JACQUELINE NOVOGRATZ
CEO & DIRECTOR 		(i)

(ii)		 320,281
-------------
0 		39,000
-------------
0 		0
-------------
0 		10,920
-------------
0 		17,427
-------------
0 		387,628
-------------
0 		0
-------------
0
2CARLYLE SINGER JONES
PRESIDENT 		(i)

(ii)		 270,864
-------------
0 		33,000
-------------
0 		0
-------------
0 		9,240
-------------
0 		12,813
-------------
0 		325,917
-------------
0 		0
-------------
0
3LYNN ROLAND
BOARD SECRETARY / GENERAL COUNSEL 		(i)

(ii)		 196,512
-------------
0 		27,000
-------------
0 		0
-------------
0 		6,948
-------------
0 		26,734
-------------
0 		257,194
-------------
0 		0
-------------
0
4JACQUELINE WOO
CHIEF FINANCIAL OFFICER 		(i)

(ii)		 201,095
-------------
0 		22,550
-------------
0 		0
-------------
0 		6,977
-------------
0 		26,099
-------------
0 		256,721
-------------
0 		0
-------------
0
5YASMINA ZAIDMAN
CHIEF STRATEGIC PARTNERSHIPS OFFICER 		(i)

(ii)		 204,600
-------------
0 		24,500
-------------
0 		0
-------------
0 		6,873
-------------
0 		372
-------------
0 		236,345
-------------
0 		0
-------------
0
6CATHERINE C NANDA
DIRECTOR, ACUMEN AMERICA 		(i)

(ii)		 173,909
-------------
0 		17,719
-------------
0 		0
-------------
0 		5,932
-------------
0 		24,737
-------------
0 		222,297
-------------
0 		0
-------------
0
7AMRITA BHANDARI
CHIEF OF BUSINESS DEVELOPMENT 		(i)

(ii)		 180,030
-------------
0 		26,393
-------------
0 		0
-------------
0 		6,193
-------------
0 		372
-------------
0 		212,988
-------------
0 		0
-------------
0
8ALBERTO GOMEZ OBREGON
DIRECTOR, PORTFOLIO 		(i)

(ii)		 169,088
-------------
0 		15,555
-------------
0 		0
-------------
0 		5,687
-------------
0 		16,820
-------------
0 		207,150
-------------
0 		0
-------------
0
9JOANNA MCQUADE
DIRECTOR, TALENT 		(i)

(ii)		 173,588
-------------
0 		15,938
-------------
0 		0
-------------
0 		5,740
-------------
0 		9,013
-------------
0 		204,279
-------------
0 		0
-------------
0
10WILLIAM CHARNOCK CHIEF
MARKETING OFFICER AS OF APRIL 2019 		(i)

(ii)		 183,875
-------------
0 		0
-------------
0 		0
-------------
0 		3,750
-------------
0 		13,261
-------------
0 		200,886
-------------
0 		0
-------------
0
11ELEANOR MURPHY HEAD OF
BUSINESS DEVELOPMENT, EAST COAST 		(i)

(ii)		 145,619
-------------
0 		15,422
-------------
0 		12,500
-------------
0 		5,338
-------------
0 		15,250
-------------
0 		194,129
-------------
0 		0
-------------
0
12JO-ANN TAN
DIRECTOR, LEADERSHIP 		(i)

(ii)		 155,000
-------------
0 		18,506
-------------
0 		0
-------------
0 		5,205
-------------
0 		372
-------------
0 		179,083
-------------
0 		0
-------------
0
13AMON ANDERSON
DIRECTOR, ACUMEN AMERICA 		(i)

(ii)		 147,825
-------------
0 		15,225
-------------
0 		0
-------------
0 		4,957
-------------
0 		8,936
-------------
0 		176,943
-------------
0 		0
-------------
0
14VIRGILIO BARCO
DIRECTOR, LATIN AMERICA 		(i)

(ii)		 128,953
-------------
0 		19,078
-------------
0 		0
-------------
0 		4,588
-------------
0 		17,594
-------------
0 		170,213
-------------
0 		0
-------------
0
15BATOOL HASSAN
DIRECTOR, LEADERSHIP 		(i)

(ii)		 142,000
-------------
0 		12,627
-------------
0 		0
-------------
0 		4,639
-------------
0 		372
-------------
0 		159,638
-------------
0 		0
-------------
0
16ALEXANDRA TRABULSI HEAD OF
BUSINESS DEVELOPMENT, WEST COAST 		(i)

(ii)		 150,000
-------------
0 		0
-------------
0 		0
-------------
0 		3,375
-------------
0 		372
-------------
0 		153,747
-------------
0 		0
-------------
0
17ALEXANDER DICHTER CHIEF
INNOVATION OFFICER THRU MARCH 2019 		(i)

(ii)		 70,489
-------------
0 		35,280
-------------
0 		0
-------------
0 		3,231
-------------
0 		6,274
-------------
0 		115,274
-------------
0 		0
-------------
0
Schedule J (Form 990) 2019

Schedule J (Form 990) 2019
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference Explanation
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.
Schedule J (Form 990) 2019

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Schedule L
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered "Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ.
MediumBulletGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2019
Open to Public Inspection
Name of the organization
ACUMEN FUND INC
 
Employer identification number

13-4166228
Part I
Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No
2
Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e) Original principal amount (f) Balance due (g) In default? (h) Approved by board or committee? (i) Written agreement?
To From Yes No Yes No Yes No
(1) 60 DECIBELS
  		PART V PART V   X 2,750,000 2,750,000   No Yes   Yes  
(2) 60 DECIBELS
  		PART V PART V   X 662,500 662,500   No Yes   Yes  
(3) JO-ANN TAN PART V PART V   X 575 575   No   No   No
Total ...............Small Bullet $ 3,413,075
Part III
Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance
(1) 60 DECIBELS
  		SEE PART V 681,202 SEE PART V SEE PART V
(2) 60 DECIBELS
  		SEE PART V 156,951 SEE PART V  
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2019
Schedule L (Form 990 or 990-EZ) 2019
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) 60 DECIBELS
  		SEE PART V 255,000 SEE PART V   No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
FORM 990, SCHEDULE L, PART II NAME OF INTERESTED PERSON: 60 DECIBELSRELATIONSHIP WITH ORGANIZATION: ENTITY > 35% OWNED BY ALEXANDER DICHTER, FORMER CHIEF INNOVATION OFFICER THROUGH MARCH 2019PURPOSE OF LOAN: CONVERTIBLE NOTE RECEIVABLE IN EXCHANGE FOR SALE OF THE ORGANIZATION'S LEAN DATA SOCIAL IMPACT MEASUREMENT PROGRAM TO A NEW COMPANY, IN ORDER TO MAKE A CONTRIBUTION TO THE WIDER SECTOR.BALANCE DUE: $2,750,000NAME OF INTERESTED PERSON: 60 DECIBELSRELATIONSHIP WITH ORGANIZATION: ENTITY > 35% OWNED BY ALEXANDER DICHTER, FORMER CHIEF INNOVATION OFFICER THROUGH MARCH 2019PURPOSE OF LOAN: CONVERTIBLE NOTE RECEIVABLE IN EXCHANGE FOR ADDITIONAL FUNDING PROVIDED TO COMPANYBALANCE DUE: $662,500NAME OF INTERESTED PERSON: JO-ANN TANRELATIONSHIP WITH ORGANIZATION: KEY EMPLOYEE OF ACUMEN FUNDPURPOSE OF LOAN: CASH ADVANCE TO COORDINATE AN EVENT OF THE ORGANIZATIONBALANCE DUE: $575
FORM 990, SCHEDULE L, PART III: NAME OF INTERESTED PERSON: 60 DECIBELSRELATIONSHIP BETWEEN THE INTERESTED PERSON AND ORGANIZATION: ENTITY > 35% OWNED BY ALEXANDER DICHTER, FORMER CHIEF INNOVATION OFFICER THROUGH MARCH 2019TYPE: SUBAWARDPURPOSE OF ASSISTANCE: STRENGTHENING IMPACT INVESTING MARKETS FOR AGRICULTURE (SIIMA) SUBAWARD FROM UK DEPARTMENT FOR INTERNATIONAL DEVELOPMENT AMOUNT OF TRANSACTION: $681,202NAME OF INTERESTED PERSON: 60 DECIBELSRELATIONSHIP BETWEEN THE INTERESTED PERSON AND ORGANIZATION: ENTITY > 35% OWNED BY ALEXANDER DICHTER, FORMER CHIEF INNOVATION OFFICER THROUGH MARCH 2019TYPE: SUBAWARDPURPOSE OF ASSISTANCE: AFRICA POULTRY MULTIPLICATION INITIATIVE SUBAWARD FROM BILL & MELINDA GATES FOUNDATIONAMOUNT OF TRANSACTION: $156,951
FORM 990, SCHEDULE L, PART IV: NAME OF INTERESTED PERSON: 60 DECIBELSRELATIONSHIP BETWEEN THE INTERESTED PERSON AND ORGANIZATION: ENTITY > 35% OWNED BY ALEXANDER DICHTER, FORMER CHIEF INNOVATION OFFICER THROUGH MARCH 2019DESCRIPTION OF TRANSACTION: PAYMENT IN EXCHANGE FOR SOCIAL IMPACT MEASUREMENT SERVICESAMOUNT OF TRANSACTION: $255,000
Schedule L (Form 990 or 990-EZ) 2019


Additional Data


Software ID:  
Software Version:  




SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
Noncash Contributions
Right pointing arrow large imageComplete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
Right pointing arrow large imageGo to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public Inspection
Name of the organization
ACUMEN FUND INC
 
Employer identification number

13-4166228
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of contributions or items contributed 		(c)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
noncash contribution amounts
1 Art—Works of art ....        
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications ..      
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded . X 12 567,116 AVG SELLING PRICE
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		       
12 Securities—Miscellaneous ..        
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		       
15 Real estate—Residential .        
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( )
26 Other Right pointing arrow large image ( )
27 Other Right pointing arrow large image ( )
28 Other Right pointing arrow large image ( )
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement
29
 
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that it must hold for at least three years from the date of the initial contribution, and which isn't required to be used for exempt purposes for the entire holding period? ...................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any nonstandard contributions?
31
Yes
 
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash
contributions? ..........................
32a
 
No
b
If "Yes," describe in Part II.
33
If the organization didn't report an amount in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) (2019)
Schedule M (Form 990) (2019)
Page 2
Part IISupplemental Information. Provide the information required by Part I, lines 30b, 32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.
Return Reference Explanation
PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B) OF SCHEDULE M.
Schedule M (Form 990) (2019)

Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Name of the organization
ACUMEN FUND INC
 
Employer identification number

13-4166228
Return Reference Explanation
FORM 990, PART III, LINE 3 LEAN DATA, OUR APPROACH TO SOCIAL IMPACT MEASUREMENT, WAS CREATED IN 2014 BY ACUMEN, A NOT FOR PROFIT PATIENT CAPITAL INVESTOR. ACUMEN SOUGHT TO BUILD A WAY TO MEASURE IMPACT THAT BOTH MET ITS NEEDS AS AN INVESTOR AND CREATED SIGNIFICANT VALUE FOR ITS INVESTEES. AFTER LOTS OF EXPERIMENTATION, MUCH OF IT FOCUSED ON FINDING THE BEST WAYS TO MEASURE IMPACT USING MOBILE PHONES, BY 2015, ACUMEN HAD CROSS-PORTFOLIO, COMPARABLE IMPACT DATA THAT WENT BEYOND BASIC MEASURES SUCH AS "LIVES IMPACTED." AS IMPORTANT, ACUMEN'S INVESTEES FOUND THAT LEAN DATA HELPED THEM UNDERSTAND AND BETTER SERVE THEIR CUSTOMERS. IN EARLY 2019, RECOGNIZING THE POTENTIAL TO MAKE A POSITIVE CONTRIBUTION TO THE WIDER SECTOR BY SCALING THIS NEW APPROACH TO MEASURING IMPACT, ACUMEN CARVED OUT LEAN DATA TO CREATE A NEW COMPANY, 60 DECIBELS, FOUNDED BY THE TEAM THAT BUILT LEAN DATA AT ACUMEN.
FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION UTILIZES ADP TOTALSOURCE, A PROFESSIONAL EMPLOYER ORGANIZATION ("PEO"). AS A PROFESSIONAL EMPLOYER ORGANIZATION, TOTALSOURCE PROVIDES PROFESSIONAL EMPLOYER SERVICES TO ACUMEN FUND, INC. (ACUMEN). IN THE PEO RELATIONSHIP TOTALSOURCE AND ACUMEN SHARE CERTAIN RESPONSIBILITIES AND ALLOCATE OTHER EMPLOYER RESPONSIBILITIES BETWEEN EACH OTHER. ACUMEN REMAINS AN EMPLOYER OF THE WORKSITE EMPLOYEES AND TOTALSOURCE IS A CO-EMPLOYER OF ACUMEN'S EMPLOYEES. ACUMEN HAS: - DIRECTION AND CONTROL OVER EMPLOYEES AS IS NECESSARY TO CONDUCT ITS BUSINESS, DISCHARGE ANY FIDUCIARY RESPONSIBILITY IT MAY HAVE, OR COMPLY WITH ANY APPLICABLE LICENSURE, REGULATORY OR STATUTORY REQUIREMENT OF ACUMEN - CONTROL OVER THE DAY TO DAY JOB DUTIES OF EMPLOYEES AND OVER THE JOB SITES AT WHICH, OR FROM WHICH EMPLOYEES PERFORM SERVICES TOTALSOURCE RESERVES A RIGHT OF DIRECTION AND CONTROL OVER EMPLOYEES AS IS NECESSARY TO FULFILL ITS OBLIGATIONS AND PROVIDE ITS SERVICES UNDER AN AGREEMENT BETWEEN ACUMEN AND TOTALSOURCE. TOTALSOURCE AND ACUMEN HAVE A RIGHT TO HIRE, DISCIPLINE, AND TERMINATE EMPLOYEES AS TO EACH ONE'S EMPLOYMENT RELATIONSHIP WITH EMPLOYEES. THE TOTAL AMOUNT OF SERVICE FEE PAID TO ADP TOTALSOURCE FOR THE TAX YEAR ENDING 12/31/19 IS $171,546.
FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FINANCE STAFF MEMBERS PREPARE THE FORM 990 IN CONJUNCTION WITH THE ORGANIZATION'S EXTERNAL INDEPENDENT ACCOUNTANTS. SEVERAL SENIOR MANAGEMENT AND INTERNAL LEGAL STAFF MEMBERS REVIEW THE INFORMATION AND A DRAFT FORM 990 IS CIRCULATED ELECTRONICALLY BY E-MAIL TO THE BOARD OF DIRECTORS. AFTER SOLICITING THE BOARD'S FEEDBACK AND COMMENTS, THE FORM 990 IS E-FILED WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY WHICH IS ANNUALLY MONITORED, REQUIRING ALL OF THE ORGANIZATION'S OR ITS AFFILIATES' BOARD MEMBERS, MEMBERS OF THE INVESTMENT COMMITTEE, OFFICERS, KEY EMPLOYEES, AND EACH OF THEIR RESPECTIVE RELATIVES TO DISCLOSE ANY FINANCIAL INTEREST THAT MAY BE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST TO THE GENERAL COUNSEL, SUBJECT TO REVIEW BY THE AUDIT & FINANCE COMMITTEE OF THE BOARD. SUCH DISCLOSURES INVOLVING A TRANSACTION OR ARRANGEMENT ARE REVIEWED BY THE GENERAL COUNSEL, WITH OVERSIGHT BY THE PRESIDENT, AND, IF OVER A CERTAIN THRESHOLD, REFERRED TO THE AUDIT & FINANCE COMMITTEE TO DETERMINE APPROPRIATE ACTION TO BE TAKEN TO ADDRESS THE CONFLICT OF INTEREST WITH RESPECT TO THE TRANSACTION OR ARRANGEMENT. THE INDIVIDUAL WITH THE CONFLICT OF INTEREST IS REQUIRED TO DISCLOSE THE CONFLICT AND RECUSE HIM/HERSELF FROM THE DISCUSSION AND NOT BE PRESENT DURING ANY DELIBERATION OR VOTE ON MATTERS WHERE HE/SHE HAS AN ACTUAL CONFLICT. A DISINTERESTED PERSON MAY BE APPOINTED TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND THE AUDIT & FINANCE COMMITTEE SHALL DETERMINE IF ACUMEN CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, AND IF NOT, IF THE TRANSACTION OR ARRANGEMENT IS IN ACUMEN'S BEST INTEREST FOR ITS OWN BENEFIT AND FAIR AND REASONABLE. ADDITIONALLY, THE ORGANIZATION REQUIRES ALL SUCH INDIVIDUALS TO PROMPTLY AND FULLY DISCLOSE ALL MATERIAL FACTS OF ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST THAT MAY EXIST AT THE TIME OF HIRE OR APPOINTMENT, AS APPLICABLE, AND AS THEY MAY ARISE WHILE THE INDIVIDUAL IS SERVING OR EMPLOYED IN SUCH CAPACITY BY THE ORGANIZATION. SUCH DISCLOSURES ARE REVIEWED BY THE GENERAL COUNSEL, WITH OVERSIGHT BY THE PRESIDENT AND/OR OTHER MEMBERS OF SENIOR MANAGEMENT, AND THE AUDIT & FINANCE COMMITTEE, WHERE APPROPRIATE, TO DETERMINE APPROPRIATE ACTION TO BE TAKEN, WHICH, IF ADVISABLE, MAY INCLUDE INFORMATION FIREWALLS, OVERSIGHT BY DISINTERESTED PERSONS AND/OR DISCOURAGEMENT OF THE ACTIVITY.
FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION ANNUALLY REVIEWS COMPARABLE COMPENSATION DATA FOR ITS NON-PROFIT PEER GROUP AND SIMILAR ORGANIZATIONS IN THE FOR-PROFIT PRIVATE SECTOR. ACUMEN TALENT BENCHMARKS AGAINST THESE COMPARATIVE FIGURES WHEN SETTING COMPENSATION FOR ITS CHIEF EXECUTIVE OFFICER AND PRESIDENT. THE ORGANIZATION WILL ALSO CONSIDER JOB PERFORMANCE WHEN EVALUATING CEO COMPENSATION. THE COMPENSATION COMMITTEE RECOMMENDS AND THEN THE BOARD OF DIRECTORS DISCUSSES AND APPROVES, IN EXECUTIVE SESSION, THE COMPENSATION INFORMATION AND DETERMINES THE CEO AND PRESIDENT'S SALARIES. THE COMPENSATION COMMITTEE IS COMPOSED SOLELY OF BOARD MEMBERS WHO DO NOT HAVE A CONFLICT OF INTEREST IN DETERMINING THE SALARY OF THE CEO. ANY BOARD MEMBERS WHO ARE CONFLICTED IN DETERMINING THE CEO'S COMPENSATION ARE RECUSED FROM THE PORTION OF THE MEETING WHERE THE CEO'S COMPENSATION IS DISCUSSED AND DETERMINED. MINUTES DOCUMENTING BOTH THE ACTIVITIES AND ACTIONS OF THE COMPENSATION COMMITTEE AND THE BOARD OF DIRECTORS, INCLUDING THE MATERIALS THEY USED IN EVALUATING COMPENSATION, ARE TAKEN AND RETAINED CONTEMPORANEOUSLY. THIS PROCESS WAS LAST COMPLETED IN 2019. THE CEO, IN CONSULTATION WITH THE PRESIDENT AND DIRECTOR OF TALENT, DETERMINES SALARIES OF THE OTHER MEMBERS OF SENIOR MANAGEMENT OF THE ORGANIZATION USING THE SAME PROCESSES AS DESCRIBED ABOVE. THIS PROCESS WAS LAST COMPLETED IN 2019.
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 XI, LINE 9: FOREIGN CURRENCY TRANSLATION LOSS -105,662. CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST 246,965. LOSS ON DISPOSAL OF FIXED ASSETS -5,138. UNREALIZED INVESTMENT LOSS ALLOCATION -335,564.
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 2018.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019


Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBulletAttach to Form 990.
MediumBullet Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047
2019
Open to Public Inspection
Name of the organization
ACUMEN FUND INC
 
Employer identification number

13-4166228
Part I
Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity
(1) ACUMEN CAPITAL MARKET INVESTMENTS LLC
40 WORTH STREET SUITE 303
NEW YORK,NY10013
36-4796906 		CARRY VEHICLE DE 0 0 ACUMEN CAPITAL PARTNERS LLC
 
(2) ACUMEN RESILIENT AGRICULTURE CAPITAL INVESTMENTS LLC
40 WORTH STREET SUITE 303
NEW YORK,NY10013
83-1263292 		CARRY VEHICLE DE 0 0 ACUMEN CAPITAL PARTNERS LLC
 








Part II
Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No
(1)ACUMEN (PAKISTAN)
11-C 4TH FL1ST COMMERCIAL LANE S
KARACHI    
PK
INVESTING IN SOCIAL ENTERPRISES PK 501(C)(3) LINE 7 ACUMEN FUND INC
 
Yes
 
(2)ACUMEN FUND CANADA
700 WEST GEORGIA STREET 25TH FLOOR
VANCOUVER   V7Y 1B3
CA
ALLEVIATE POVERTY CA 501(C)(3) LINE 7 ACUMEN FUND INC
 
Yes
 
(3)AF TRUST
201 DHEERAJI PLAZA HILL ROAD BAN
MUMBAI   400050
IN
LEADERSHIP IN 501(C)(3) LINE 7 ACUMEN FUND INC
 
Yes
 
(4)ACUMEN FUND WEST AFRICA LTDGTE
10TH FLOOR ST NICHOLAS HOUSE CATH
LAGOS    
NI
INVESTING IN SOCIAL ENTERPRISES NI 501(C)(3) LINE 7 ACUMEN FUND INC
 
Yes
 






For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No
(1) ACUMEN CAPITAL MARKETS ILP

40 WORTH STREET STE 303
NEW YORK,NY10013
26-3831409 		INVESTING IN SOCIAL ENTERPRISES DE ACUMEN FUND INC
  		RELATED -50,863 1,083,212   No   Yes   16.880 %
(2) KAWISAFI VENTURES LIMITED

C/O ESTERA MANAGEMENT MAURITIUS L
PORT LOUIS    
MP
32-0466550 		INVESTING IN SOCIAL ENTERPRISES MP ACUMEN CAPITAL PARTNERS LLC
  		RELATED 22,311 8,848,358   No   Yes   28.540 %
(3) ACUMEN LATIN AMERICA EARLY GROWTH FUND LP

40 WORTH STREET STE 303
NEW YORK,NY10013
98-1364491 		INVESTING IN SOCIAL ENTERPRISES CA ACUMEN CAPITAL MARKETS LATIN AMERICA EARLY GROWTH LLC
  		RELATED   409,558   No   Yes   4.570 %
(4) ACUMEN CAPITAL MARKETS LATIN AMERICA EARLY GROWTH LLC

40 WORTH STREET STE 303
NEW YORK,NY10013
82-0973614 		CARRY VEHICLE DE ACUMEN CAPITAL PARTNERS LLC
  		RELATED       No   Yes    
(5) ACUMEN RESILIENT AGRICULTURE FUND LP

40 WORTH STREET STE 303
NEW YORK,NY10013
98-1496984 		INVESTING IN SOCIAL ENTERPRISES CA ACUMEN CAPITAL PARTNERS LLC
  		RELATED   43,387   No   Yes   8.000 %




Part IV
Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No
(1) ACUMEN FUND ADVISORY SERVICES INDIA PVT LTD

203 DHEERAJ PLAZA HILL ROAD
BANDRA WEST,MUMBAI400050
IN
ADVISORY SERVICES IN ACUMEN FUND INC
  		C 596,968 1,776,955 99.900 %   No
(2) ACUMEN CAPITAL PARTNERS LLC

40 WORTH STREET STE 303
NEW YORK,NY10013
32-0450985 		FUND MANAGER DE ACUMEN FUND INC
  		C 1,937,700 3,279,899 100.000 %   No
(3) ACUMEN CAPITAL HOLDING LLC

40 WORTH STREET STE 303
NEW YORK,NY10013
82-0758236 		HOLDING COMPANY DE ACUMEN FUND INC
  		C   46,685 100.000 %   No
(4) UNDER THE MANGO TREE

A 412 BYCULLA SERVICE INDUSTRIES C
BYCULLA,MUMBAI  
IN
BEEKEEPING IN ACUMEN FUND INC
  		C 115,229 87,578 82.140 %   No
(5) ACUMEN LATIN AMERICA CAPITAL PARTNERS COLOMBIA SAS

DIAGONAL 76 1-29
BOGOTA DC,CUNDINAMARCA  
CO
98-1503546 		INVESTING IN SOCIAL ENTERPRISES CO ACUMEN LATIN AMERICA CAPITAL PARTNERS LLC
  		C         No
(6) ACUMEN LATAM CAPITAL PARTNERS LLC

40 WORTH STREET STE 303
NEW YORK,NY10013
82-2358039 		FUND MANAGER DE ACUMEN CAPITAL PARTNERS LLC
  		C     49.000 %   No
(7) ACUMEN CAPITAL PARTNERS (ARAF) LTD

40 WORTH STREET STE 303
NEW YORK,NY10013
98-1546121 		FINANCIAL SERVICES KE ACUMEN CAPITAL PARTNERS LLC
  		C         No
(8) ACUMEN CAPITAL PARTNERS (EA) LTD

40 WORTH STREET STE 303
NEW YORK,NY10013
98-1551441 		FINANCIAL SERVICES KE ACUMEN CAPITAL PARTNERS LLC
  		C         No
Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
Page 3
Part V
Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................
1a
 
No
b Gift, grant, or capital contribution to related organization(s) ............................
1b
 
No
c Gift, grant, or capital contribution from related organization(s) ............................
1c
 
No
d Loans or loan guarantees to or for related organization(s) ............................
1d
 
No
e Loans or loan guarantees by related organization(s) ............................
1e
 
No
f Dividends from related organization(s) ............................
1f
 
No
g Sale of assets to related organization(s) ............................
1g
 
No
h Purchase of assets from related organization(s) ............................
1h
 
No
i Exchange of assets with related organization(s) ............................
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) .......................
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) ......................
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) .....................
1l
 
No
m Performance of services or membership or fundraising solicitations by related organization(s) .................
1m
Yes
 
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................
1n
Yes
 
o Sharing of paid employees with related organization(s) ............................
1o
Yes
 
p Reimbursement paid to related organization(s) for expenses ............................
1p
 
No
q Reimbursement paid by related organization(s) for expenses ............................
1q
Yes
 
r Other transfer of cash or property to related organization(s) ............................
1r
 
No
s Other transfer of cash or property from related organization(s) ............................
1s
 
No
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) ACUMEN FUND ADVISORY SERVICES INDIA PRIVATE LIMITED

 M 628,197 FMV
(2) ACUMEN LATIN AMERICA CAPITAL PARTNERS LLC

 Q 264,411 COST
(3) ACUMEN RESILIENT AGRICULTURE FUND LP

 Q 250,000 COST
(4) ACUMEN CAPITAL MARKETS LATIN AMERICA EARLY GROWTH LLC

 Q 200,000 COST


Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. (see instructions).
Return Reference Explanation
Schedule R (Form 990) 2019

Additional Data


Software ID:  
Software Version: