Form990
Click to see list of attachments
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
2020
Open to Public Inspection
A For the 2020 calendar year, or tax year beginning 01-01-2020 , and ending 12-31-2020
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 $ 33,005,882
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 2020 (Part V, line 2a) ...... 5 88
6 Total number of volunteers (estimate if necessary) ............. 6 14
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 31,790
b Net unrelated business taxable income from Form 990-T, line 39 ......... 7b 25,461
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 25,402,570 24,665,203
9 Program service revenue (Part VIII, line 2g) ......... 2,317,027 2,833,283
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 2,756,044 525,861
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 491,207 833,789
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 30,966,848 28,858,136
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 3,119,886 7,644,532
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) 12,801,378 9,893,930
16a Professional fundraising fees (Part IX, column (A), line 11e) ..... 3,316,680 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet2,409,992    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 10,648,613 10,850,835
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 29,886,557 28,389,297
19 Revenue less expenses. Subtract line 18 from line 12....... 1,080,291 468,839
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 140,919,171 141,486,235
21 Total liabilities (Part X, line 26)............. 5,039,812 5,408,376
22 Net assets or fund balances. Subtract line 21 from line 20..... 135,879,359 136,077,859
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 (2020)
Form 990 (2020)
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 $137 MILLION IN 139 SOCIAL ENTERPRISES WORKING IN AGRICULTURE, EDUCATION, ENERGY, FINANCIAL INCLUSION, HEALTH, HOUSING, WATER AND SANITATION, AND WORKFORCE DEVELOPMENT. WE ALSO INVEST IN BUILDING A GLOBAL COMMUNITY OF EMERGING LEADERS WORKING TO CREATE A MORE JUST, INCLUSIVE, AND SUSTAINABLE WORLD THROUGH ACUMEN ACADEMY - THE WORLD'S SCHOOL FOR SOCIAL CHANGE - WHICH WAS LAUNCHED IN 2020 AND INCLUDES OUR FELLOWS PROGRAM AND OUR PREVIOUSLY NAMED +ACUMEN ONLINE COURSES.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 $ 14,702,350 including grants of $ 5,050,485 ) (Revenue $ 2,598,741 )
INVESTING AND PORTFOLIO MANAGEMENT:ACUMEN FUND, INC. (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 13 NEW COMPANIES IN 2020, REACHING A CUMULATIVE $137 MILLION INVESTED IN 139 BUSINESSES SERVING THE POOR. (SEE CONTINUATION ON SCHEDULE O)ACUMEN WAS ALSO ABLE TO EXIT THREE COMPANIES RETURNING A TOTAL OF $5 MILLION, INCLUDING AN EARLY MONETIZATION OF OUR INVESTMENT IN KOPAGAS, A COMPANY PROVIDING CLEANER-BURNING COOKING FUEL IN TANZANIA AND SANERGY, OUR SEVEN-YEAR INVESTMENT IN AN INNOVATIVE SANITATION AND AGRICULTURE MODEL IN KENYA. IMMEDIATELY AFTER THE PANDEMIC WAS DECLARED, ACUMEN SPRUNG INTO ACTION TO GET MUCH-NEEDED CAPITAL TO OUR ENTREPRENEURS WHOSE COMMUNITIES WERE ON THE FRONT LINES. ACUMEN RAISED NEARLY $6.5 MILLION ACROSS TWO EMERGENCY RESPONSE FUNDS - THE ACUMEN EMERGENCY FACILITY AND THE ACUMEN AMERICA EMERGENCY FUND - FOR OUR INVESTEES AND FELLOWS TO ENSURE THAT THE MOST VULNERABLE WOULD BE SUPPORTED. IN ADDITION TO OUR COVID-RELIEF SUPPORT, ACUMEN ALSO ANNOUNCED OUR SECOND RETURNABLE FUND, THE ACUMEN LATIN AMERICA EARLY GROWTH FUND (MANAGED BY ALIVE VENTURES), FOCUSED ON AGRIBUSINESS, EDUCATION, AND CLEAN ENERGY IN COLOMBIA AND PERU. FURTHER, WE DEPLOYED CAPITAL FOR AN INITIATIVE TO INVEST IN BUSINESSES THAT ENABLE CLIMATE RESILIENCE FOR SMALLHOLDER FARMERS IN WEST AND EAST AFRICA.
4b (Code:   ) (Expenses $ 6,228,727 including grants of $ 2,362,333 ) (Revenue $ 219,542 )
FELLOWS AND LEADERSHIP PROGRAMS:IN 2020, ACUMEN REORGANIZED ITS FELLOWS AND LEADERSHIP PROGRAMS, BRINGING THEM UNDER THE UMBRELLA OF ACUMEN ACADEMY. LAUNCHED IN MAY, ACUMEN ACADEMY COMBINES OUR +ACUMEN ONLINE COURSES AND FELLOWSHIP PROGRAMS UNDER ONE BRAND, PLATFORM, AND WEBSITE.IN 2020, ACUMEN EXPANDED OUR FELLOWS PROGRAMS INTO FOUR NEW REGIONS: BANGLADESH, MALAYSIA, SPAIN, AND THE UNITED KINGDOM. THE NEW AND EXISTING FELLOWSHIP PROGRAMS PIVOTED TO VIRTUAL AND SEMI-VIRTUAL DELIVERY DUE TO THE COVID-19 PANDEMIC. (SEE CONTINUATION ON SCHEDULE O)THE PROGRAM 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 2020, A CUMULATIVE 715 ACUMEN FELLOWS HAVE PARTICIPATED IN OUR PROGRAM IN BANGLADESH, EAST AFRICA, INDIA, LATIN AMERICA, MALAYSIA, PAKISTAN, SPAIN, UNITED KINGDOM, AND WEST AFRICA.ACUMEN SUCCESSFULLY LAUNCHED AND RAN A NEW PATH OF MORAL LEADERSHIP ONLINE COURSE, BASED ON JACQUELINE NOVOGRATZ'S NEW BOOK, MANIFESTO FOR A MORAL REVOLUTION: PRACTICES TO BUILD A BETTER WORLD, AND EXPERIMENTED WITH WHAT IS POSSIBLE WHEN TEACHING MORAL LEADERSHIP VIRTUALLY. ACUMEN CONTINUES TO BUILD COURSES AND PARTNERSHIPS AT THE INTERSECTION OF CHARACTER AND COMPETENCE BASED ON THE PAIN POINTS OF SOCIAL INNOVATORS AND EMERGING ENTREPRENEURS. ACUMEN'S GOAL IS TO SOURCE AND CULTIVATE MORE BUILDERS AND GROW OUR COMMUNITY OF SOCIAL INNOVATORS.ACUMEN LAUNCHED ACUMEN ACADEMY CIRCLES, A NEW OFFERING WHICH ENABLES SMALLER GROUPS TO COME TOGETHER (VIRTUALLY OR IN-PERSON) IN LEARNING CIRCLES ANCHORED IN TIMELY, TOPICAL CONTENT. THE CONTENT IS A MIX OF ACUMEN-CURATED AND COMMUNITY-CURATED, AND THE VIRTUAL MODEL WILL ALLOW GROUPS TO CONNECT CROSS-REGIONALLY AS WELL. ACUMEN'S REGIONAL TEAMS ARE ALSO INTENTIONALLY WEAVING CIRCLES INTO THEIR LOCAL STRATEGIES, LEVERAGING THEM EVERYWHERE FROM FELLOWS RECRUITMENT TO REENGAGING FELLOWS FROM PREVIOUS YEARS.
4c (Code:   ) (Expenses $ 3,498,304 including grants of $ 231,714 ) (Revenue $ 15,000 )
IMPACT AND COMMUNICATIONS:THE 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.WHILE PIVOTING TO RESPOND TO THE COVID-19 PANDEMIC WAS OUR DOMINANT FOCUS OF THE YEAR, ACUMEN WAS ABLE TO MAINTAIN MOMENTUM AND CONTINUE PROGRESSING OUR WORK IN SERVICE OF OUR SHARING INSIGHTS WITH OUR STAKEHOLDERS AND SUPPORTERS. (SEE CONTINUATION ON SCHEDULE O)IN FEBRUARY, LONGTIME ACUMEN INVESTEE D.LIGHT REACHED THE IMPRESSIVE MILESTONE OF IMPACTING 100 MILLION LIVES, WHICH WAS PROMOTED AND CELEBRATED BY ACUMEN, AND LOOKED TO AS AN EXAMPLE TO HARNESS LEARNINGS FOR FUTURE INVESTMENTS. THE SUCCESS OF D.LIGHT IS A SHINING EXAMPLE OF THE IMPACT OF PATIENT CAPITAL IN THE OFF-GRID ENERGY SECTOR AND CONTINUES TO PROVIDE OPPORTUNITIES FOR SECTOR-WIDE LEARNING. IN APRIL, AS THE PANDEMIC CONTINUED TO SPREAD GLOBALLY, ACUMEN JOINED THE WORLD ECONOMIC FORUM'S COVID RESPONSE ALLIANCE FOR SOCIAL ENTREPRENEURS. ALONG WITH MORE THAN 50 OTHER FOUNDING MEMBERS, ACUMEN HAS SHARED STORIES ABOUT HOW SOCIAL ENTREPRENEURS ARE RISING TO THE CHALLENGE OF COVID AND LESSONS THAT WE CAN LEARN FROM THEIR EFFORTS TO SERVE PEOPLE IN POVERTY EVEN AMID A GLOBAL HEALTH AND ECONOMIC CRISIS. IN MAY, ACUMEN FOUNDER AND CEO JACQUELINE NOVOGRATZ'S SECOND BOOK MANIFESTO FOR A MORAL REVOLUTION: PRACTICES TO BUILD A BETTER WORLD WAS PUBLISHED, AND A VIRTUAL BOOK TOUR COMMENCED. THE BOOK'S CONTENT WAS CONVERTED INTO AN ACUMEN ACADEMY MASTER CLASS, PROVIDING COURSETAKERS WITH THE OPPORTUNITY TO DIG DEEPER AND LEARN FROM JACQUELINE HERSELF. CONTINUING TO BUILD ON THE MOMENTUM OF THE BOOK LAUNCH, IN SEPTEMBER, JACQUELINE RELEASED A NEW TED TALK, WHAT IT TAKES TO MAKE CHANGE, ON HOW ACUMEN CAN BEST BUILD THE SUSTAINABLE SYSTEMS ACUMEN NEEDS. IN 2020, ACUMEN DOVE DEEPER INTO THE LINKAGES BETWEEN POVERTY AND CLIMATE CHANGE AND, IN NOVEMBER, AS PART OF TED COUNTDOWN, HOSTED TEDXACUMEN, AN EVENT EXPLORING SOLUTIONS AT THE INTERSECTION OF POVERTY AND CLIMATE CHANGE.ACUMEN CLOSED OUT THE YEAR WITH THE WHAT THE WORLD NEEDS NOW CAMPAIGN, CONCISELY AND COMPELLINGLY ILLUSTRATING THE WORLD ACUMEN ENVISIONS, AND THE PEOPLE AND ACTIONS NEEDED TO GET THERE. THE CAMPAIGN MOBILIZED ACUMEN'S AUDIENCE BEHIND A UNITED VISION TO ADDRESS POVERTY IN THE FACE OF BOTH THE COVID-19 PANDEMIC AND CLIMATE CRISIS.
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet24,429,381
Form 990 (2020)
Form 990 (2020)
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
Yes
 
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 (2020)
Form 990 (2020)
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
Yes
 
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 ....
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.......................
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 II...........
26
 
No
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 III.........................
27
 
No
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......................
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....
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
 
No
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
59
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
Yes
 
Form 990 (2020)
Form 990 (2020)
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
88
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
Yes
 
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
Yes
 
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: MediumBulletCA , UK , MP , IN , PK , CO , GH , KE
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 (2020)
Form 990 (2020)
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 (2020)
Form 990 (2020)
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
 39.00
.................
1.00 		X   X       355,766 0 29,536
(2) CARLYLE SINGER JONES......................................................................
PRESIDENT
 39.00
.................
1.00 		    X       303,345 0 18,807
(3) WILLIAM CHARNOCK......................................................................
CHIEF MARKETING OFFICER
 40.00
.................
0.00 		      X     269,710 0 27,017
(4) JACQUELINE WOO......................................................................
CHIEF FINANCIAL OFFICER
 33.50
.................
6.50 		    X       229,287 0 36,574
(5) OTHO EDGAR KERR......................................................................
CHIEF INVESTMENT OFFICER
 40.00
.................
0.00 		      X     245,935 0 18,059
(6) LYNN ROLAND......................................................................
BOARD SECRETARY / GENERAL COUNSEL
 34.00
.................
6.00 		    X       224,053 0 35,597
(7) YASMINA ZAIDMAN CHIEF......................................................................
STRATEGIC PARTNERSHIPS OFFICER
 40.00
.................
0.00 		      X     231,975 0 7,349
(8) AMRITA BHANDARI......................................................................
CHIEF OF BUSINESS DEVELOPMENT
 40.00
.................
0.00 		      X     225,889 0 7,167
(9) CATHERINE C NANDA......................................................................
DIRECTOR, ACUMEN AMERICA
 40.00
.................
0.00 		      X     196,044 0 33,753
(10) JOANNA MCQUADE......................................................................
DIRECTOR, TALENT
 40.00
.................
0.00 		      X     206,762 0 15,909
(11) AMON ANDERSON......................................................................
DIRECTOR, ACUMEN AMERICA
 40.00
.................
0.00 		        X   193,783 0 15,645
(12) ELEANOR MURPHY HEAD OF......................................................................
BUSINESS DEVELOPMENT, EAST COAST
 39.50
.................
0.50 		        X   164,524 0 21,403
(13) JO-ANN TAN......................................................................
DIRECTOR, LEADERSHIP
 40.00
.................
0.00 		      X     174,053 0 5,611
(14) ALEXANDRA TRABULSI HEAD OF......................................................................
BUSINESS DEVELOPMENT, WEST COAST
 40.00
.................
0.00 		        X   173,600 0 5,598
(15) SABRINA LEE ORTEGA SANCHEZ......................................................................
HEAD OF BUSINESS DEV., FOUNDATIONS
 40.00
.................
0.00 		        X   151,097 0 14,823
(16) BATOOL HASSAN......................................................................
DIRECTOR, LEADERSHIP
 40.00
.................
0.00 		        X   159,055 0 5,162
(17) MARGO ALEXANDER......................................................................
DIRECTOR
 1.00
.................
0.00 		X           0 0 0
Form 990 (2020)
Form 990 (2020)
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) C HUNTER BOLL........................................................................
DIRECTOR
 1.00
.......................0.00 		X           0 0 0
(19) KATHLEEN CHEW WAI LIN........................................................................
DIRECTOR
 1.00
.......................0.00 		X           0 0 0
(20) STUART DAVIDSON........................................................................
DIRECTOR
 1.00
.......................0.00 		X           0 0 0
(21) JULIUS GAUDIO........................................................................
DIRECTOR
 1.00
.......................0.00 		X           0 0 0
(22) NATHAN LAURELL........................................................................
DIRECTOR
 1.00
.......................0.00 		X           0 0 0
(23) CRISTINA LJUNGBERG........................................................................
DIRECTOR
 1.00
.......................0.00 		X           0 0 0
(24) PAT MITCHELL........................................................................
DIRECTOR (UNTIL 5/1/20)
 1.00
.......................0.00 		X           0 0 0
(25) KIRSTEN NEVILL-MANNING........................................................................
DIRECTOR
 1.00
.......................0.00 		X           0 0 0
(26) KAREN PATERSON........................................................................
DIRECTOR
 1.00
.......................0.00 		X           0 0 0
(27) THULASIRAJ RAVILLA........................................................................
DIRECTOR
 1.00
.......................0.00 		X           0 0 0
(28) ANDREA SOROS COLOMBEL........................................................................
DIRECTOR
 1.00
.......................0.00 		X           0 0 0
(29) MARK TERCEK........................................................................
DIRECTOR (FROM 5/1/20)
 1.00
.......................0.00 		X           0 0 0
(30) SHAIZA RIZAVI........................................................................
BOARD CHAIR
 1.00
.......................0.00 		X   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 3,504,878 0 298,010
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 MediumBullet26
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
 
No
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
LAFAYETTE AMERICA LLC

4892 GRAND RIVER AVE SUITE 1B
DETROIT,MI48208 		WEB PLATFORM DESIGN 211,500
60 DECIBELS INC

205 E 42ND ST FLOOR 20
NEW YORK,NY10017 		DATABASE MANAGEMENT 201,241
WALL STREET IT MANAGEMENT

40 WEST 37TH STREET SUITE 1003
NEW YORK,NY10018 		IT MANAGEMENT SERVICES 171,668
ADP TOTALSOURCE GROUP INC

10200 SUNSET DRIVE
MIAMI,FL33173 		PEO SERVICES 168,754
THE BUSARA CENTER FOR BEHAVIORAL ECONOMI

PO BOX 1340
PRINCETON,NJ08540 		BEHAVIORAL SCIENCE CONSULTING 146,532
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet7
Form 990 (2020)
Form 990 (2020)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, GrantAmt and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c  
d Related organizations1d  
e Government grants (contributions)1e 1,711,767
f All other contributions, gifts, grants, and similar amounts not included above1f 22,953,436
g Noncash contributions included in lines 1a - 1f:$ 1g 684,847
h Total. Add lines 1a-1f.......MediumBullet 24,665,203
Program Service RevenueAmt Business Code
2a PGM RELATED LOAN INCOME 900099 2,405,920 2,405,920    
b PROGRAM FEES 900099 382,399 382,399    
c PORTFOLIO DILIGENCE FEE INCOME 900099 44,964 44,964    
d
e
f All other program service revenue.        
g Total. Add lines 2a–2f .....MediumBullet 2,833,283
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ......MediumBullet 247,952   31,790 216,162
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 160,698 4,264,957 7a
b Less: cost or other basis and sales expenses 6,489 4,141,257 7b
c Gain or (loss) 154,209 123,700 7c
d Net gain or (loss).........MediumBullet 277,909     277,909
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 825,693     825,693
b REIMBURSEMENT/OTHER 900099 8,096     8,096
c            
d All other revenue ....        
e Total. Add lines 11a–11d ...... MediumBullet 833,789
12 Total revenue. See instructions.....MediumBullet 28,858,136 2,833,283 31,790 1,327,860
Form 990 (2020)
Form 990 (2020)
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 .... 4,626,440 4,626,440
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ........... 26,000 26,000
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. ............. 2,992,092 2,992,092
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 3,017,630 2,525,745 246,762 245,123
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ......... 233,418 233,418    
7 Other salaries and wages........ 5,185,502 3,409,313 385,896 1,390,293
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 236,692 168,702 18,412 49,578
9 Other employee benefits ....... 572,187 406,673 46,096 119,418
10 Payroll taxes ........... 648,501 476,628 53,520 118,353
11 Fees for services (non-employees):        
a Management ...... 140,536 92,798 13,651 34,087
b Legal ......... 147,481 83,090 64,391  
c Accounting ........... 136,050 83,542 26,454 26,054
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) 2,215,776 2,042,298 98,881 74,597
12 Advertising and promotion .... 116,331 112,437 3,431 463
13 Office expenses ....... 199,131 130,162 30,287 38,682
14 Information technology ...... 555,854 357,138 102,486 96,230
15 Royalties ..        
16 Occupancy ........... 678,258 479,661 50,386 148,211
17 Travel ............ 151,033 133,196 5,570 12,267
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings .... 36,340 25,684 4,399 6,257
20 Interest ........... 8,551   8,551  
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .. 137,668 112,267 5,627 19,774
23 Insurance ... 74,956 51,362 6,478 17,116
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 INTERCOMPANY PROGRAM SE 2,317,358 2,317,358    
b INTERCOMPANY COST REIMB 1,909,694 1,612,473 297,221  
c PROV FOR PORTFOLIO LOSS 1,886,501 1,886,501    
d CORPORATE TAXES/OTHER 75,256 41,470 20,403 13,383
e All other expenses 64,061 2,933 61,022 106
25 Total functional expenses. Add lines 1 through 24e 28,389,297 24,429,381 1,549,924 2,409,992
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 (2020)
Form 990 (2020)
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 ........ 487,896 1 627,646
2 Savings and temporary cash investments ......... 44,765,207 2 47,907,426
3 Pledges and grants receivable, net ...... 24,288,449 3 13,088,483
4 Accounts receivable, net ............. 1,841,125 4 1,319,585
5 Loans and other receivables from 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 .......
3,413,075 5  
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 ...........   7 750,000
8 Inventories for sale or use ............   8  
9 Prepaid expenses and deferred charges ...... 378,654 9 278,918
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 369,758
b Less: accumulated depreciation 10b 217,493 305,181 10c 152,265
11 Investments—publicly traded securities .   11  
12 Investments—other securities. See Part IV, line 11 ..... 500,959 12 610,261
13 Investments—program-related. See Part IV, line 11 .. 64,055,890 13 75,846,773
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 882,735 15 904,878
16 Total assets. Add lines 1 through 15 (must equal line 33)... 140,919,171 16 141,486,235
Liabilities 17 Accounts payable and accrued expenses ..... 2,847,209 17 2,211,182
18 Grants payable ...   18  
19 Deferred revenue ......... 804,470 19 648,534
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 1,388,133 25 2,548,660
26 Total liabilities. Add lines 17 through 25.. 5,039,812 26 5,408,376
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 .......... 86,591,977 27 99,487,137
28 Net assets with donor restrictions ........... 49,287,382 28 36,590,722
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 ........... 135,879,359 32 136,077,859
33 Total liabilities and net assets/fund balances ........ 140,919,171 33 141,486,235
Form 990 (2020)
Form 990 (2020)
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
28,858,136
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
28,389,297
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
468,839
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
135,879,359
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
-270,339
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
136,077,859
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 (2020)
Form 990 (2020)
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
2020
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) 2020

Schedule A (Form 990 or 990-EZ) 2020
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) 2016 (b) 2017 (c) 2018 (d) 2019 (e) 2020 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. 29,176,704 27,693,548 35,753,189 25,402,570 24,665,203 142,691,214
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 29,176,704 27,693,548 35,753,189 25,402,570 24,665,203 142,691,214
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).. 32,756,621
6 Public support. Subtract line 5 from line 4. 109,934,593
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2016 (b) 2017 (c) 2018 (d) 2019 (e) 2020 (f) Total
7 Amounts from line 4.. 29,176,704 27,693,548 35,753,189 25,402,570 24,665,203 142,691,214
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... 96,765 73,572 78,195 284,685 216,162 749,379
9 Net income from unrelated business activities, whether or not the business is regularly carried on..     60,770   29,290 90,060
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. 554,566 162,649 272,711 491,207 833,789 2,314,922
11 Total support. Add lines 7 through 10 145,845,575
12
12
 
13
First 5 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
75.380 %
15
15
71.120 %
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) 2020

Schedule A (Form 990 or 990-EZ) 2020
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) 2016 (b) 2017 (c) 2018 (d) 2019 (e) 2020 (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) 2016 (b) 2017 (c) 2018 (d) 2019 (e) 2020 (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) 2020

Schedule A (Form 990 or 990-EZ) 2020
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, 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 lines 3b and 3c 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 box 12a or 12b in Part I, answer lines 4b and 4c 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 lines 5b and 5c 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) 2020

Schedule A (Form 990 or 990-EZ) 2020
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 lines 11b and 11c below, the governing body of a supported organization?
11a
 
 
b
A family member of a person described in 11a above?
11b
 
 
c
A 35% controlled entity of a person described in line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.
11c
 
 
Section B. Type I Supporting Organizations
Yes
No
1
Did the officers, 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 line 2 above, 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 lines 2a and 2b 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 line 2a, above 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 lines 3a and 3b 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?If "Yes" or "No", 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) 2020

Schedule A (Form 990 or 990-EZ) 2020
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 0.015 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 0.035 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) 2020

Schedule A (Form 990 or 990-EZ) 2020
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 1  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity 		2  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations 3  
4 Amounts paid to acquire exempt-use assets 4  
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) 5  
6 Other distributions (describe in Part VI). See instructions 6  
7Total annual distributions. Add lines 1 through 6. 7  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions 		8  
9 Distributable amount for 2020 from Section C, line 6 9  
10 Line 8 amount divided by Line 9 amount 10  
Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2020 		(iii)
Distributable
Amount for 2020
1 Distributable amount for 2020 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 2020:
a From 2015.......  
b From 2016.......  
c From 2017.......  
d From 2018.......  
e From 2019.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2020 distributable amount  
i Carryover from 2015 not applied (see
instructions) 		 
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.  
4Distributions for 2020 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2020 distributable amount  
c Remainder. Subtract lines 4a and 4b from line 4.  
5 Remaining underdistributions for years prior to
2020, 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 2020. 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 2021. Add lines
3j and 4c. 		 
8 Breakdown of line 7:
a Excess from 2016.....  
b Excess from 2017.....  
c Excess from 2018.....  
d Excess from 2019.....  
e Excess from 2020.....  
Schedule A (Form 990 or 990-EZ) (2020)

Schedule A (Form 990 or 990-EZ) 2020
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 - 2016 AMOUNT: $ 24,568. 2017 AMOUNT: $ 2,596. 2018 AMOUNT: $ 2,407. REIMBURSEMENT/OTHER - 2016 AMOUNT: $ 529,998. 2017 AMOUNT: $ 10,053. 2018 AMOUNT: $ 65,133. 2019 AMOUNT: $ 41,207. 2020 AMOUNT: $ 8,096. EARLY TERMINATION FEE - 2017 AMOUNT: $ 150,000. 2018 AMOUNT: $ 205,171. DEVELOPMENT COST REIMBURSEMENT - 2019 AMOUNT: $ 450,000. 2020 AMOUNT: $ 825,693.
Schedule A (Form 990 or 990-EZ) 2020


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
2020
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) (2020)
Schedule B (Form 990, 990-EZ, or 990-PF) (2020) 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) (2020)
Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
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) (2020)
Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
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) (2020)
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
2020
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) 2020

Schedule D (Form 990) 2020
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   47,649 20,981 26,668
d Equipment ....   177,152 120,057 57,095
e Other .....   144,957 76,455 68,502
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..SchDMdBullet 152,265
Schedule D (Form 990) 2020

Schedule D (Form 990) 2020
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 21,351,587 C
(2)PROGRAM RELATED EQUITY INVESTMENTS - SUB-SAHARAN AFRICA 4,295,394 C
(3)PROGRAM RELATED EQUITY INVESTMENTS - S.ASIA 16,881,165 C
(4)PROGRAM RELATED EQUITY INVESTMENTS - LATIN AMERICA 3,805,003 C
(5)PROGRAM RELATED EQUITY INVESTMENTS - EUROPE 1,918,528 C
(6)PROGRAM RELATED DEBT INVESTMENTS - CENTRAL AMERICA AND THE CARRIBEAN 275,000 C
(7)PROGRAM RELATED DEBT INVESTMENTS - EUROPE 700,000 C
(8)PROGRAM RELATED DEBT INVESTMENTS - NORTH AMERICA 8,689,737 C
(9)PROGRAM RELATED DEBT INVESTMENTS - SUB-SAHARAN AFRICA 1,529,987 C
(10)PROGRAM RELATED DEBT INVESTMENTS - S.ASIA 898,153 C
(11)PROGRAM RELATED DEBT INVESTMENTS - LATIN AMERICA 922,353 C
(12)PROGRAM RELATED PARTNERSHIP INVESTMENTS - NORTH AMERICA 2,249,811 C
(13)PROGRAM RELATED PARTNERSHIP INVESTMENTS - SUB-SAHARAN AFRICA 12,330,055 C
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet 75,846,773
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  
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 2,548,660
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) 2020

Schedule D (Form 990) 2020
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  
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  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1.................. 3  
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  
c Add lines 4a and 4b.................... 4c  
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5  
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  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d.................... 2e  
3 Subtract line 2e from line 1................... 3  
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  
c Add lines 4a and 4b..................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5  
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 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 GENERALLY EXEMPT FROM INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR THREE YEARS FROM THE FILING DATE.
Schedule D (Form 990) 2020


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
2020
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 26 PROGRAM SERVICES PORTFOLIO MANAGEMENT AND LEADERSHIP PROGRAM 678,342
SUB-SAHARAN AFRICA 2 46 PROGRAM SERVICES PORTFOLIO MANAGEMENT AND LEADERSHIP PROGRAM 2,620,530
LATIN AMERICA 1 36 PROGRAM SERVICES PORTFOLIO MANAGEMENT AND LEADERSHIP PROGRAM 1,038,139
EUROPE 1 18 PROGRAM SERVICES LEADERSHIP PROGRAM AND FUNDRAISING 940,749
NORTH AMERICA 0 6 PROGRAM SERVICES LEADERSHIP PROGRAM 112,650
SOUTH ASIA 0 0 PROGRAM RELATED INVESTMENT   17,779,318
SUB-SAHARAN AFRICA 0 0 PROGRAM RELATED INVESTMENT   18,155,435
LATIN AMERICA 0 0 PROGRAM RELATED INVESTMENT   4,727,356
EUROPE 0 0 PROGRAM RELATED INVESTMENT   2,618,528
NORTH AMERICA 0 0 PROGRAM RELATED INVESTMENT   1,129,856
CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM RELATED INVESTMENT   275,000
SOUTH ASIA 0 0 GRANT MAKING EMERGENCY FACILITY AND TA GRANTS 964,480
SUB-SAHARAN AFRICA 0 0 GRANT MAKING EMERGENCY FACILITY AND TA GRANTS 1,018,197
LATIN AMERICA 0 0 GRANT MAKING EMERGENCY FACILITY AND TA GRANTS 540,078
EUROPE 0 0 GRANT MAKING EMERGENCY FACILITY AND TA GRANTS 295,024
EAST ASIA AND THE PACIFIC 0 0 GRANT MAKING EMERGENCY FACILITY AND TA GRANTS 50,000
NORTH AMERICA 0 0 GRANT MAKING EMERGENCY FACILITY AND TA GRANTS 124,313
3a Sub-total .... 6 132 46,052,519
b Total from continuation sheets to Part I ... 0 0 7,015,476
c Totals (add lines 3a and 3b) 6 132 53,067,995
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2020
Schedule F (Form 990) 2020
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 GRANT FOR COVID-19 EMERGENCY ASSISTANCE 20,000 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 12,519 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 20,000 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 50,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 23,850 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 5,000 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 7,000 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 37,192 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 21,700 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 18,732 WIRE TRANSFER      
LATIN AMERICA HIRING A PART TIME CONSULTANT TO STRENGTHEN CACAO DE COLOMBIAS CURRENT SUPPLY CHAIN 8,000 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 25,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 27,376 WIRE TRANSFER      
SUB-SAHARAN AFRICA ENSURING EQUAL OPPORTUNITIES FOR THE WOMEN WORKING AT THE COMPANYS FACTORY THROUGH IMPROVING LOCKER ROOM FACILITIES AND BUILDING A DAYCARE FACILITY 30,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 36,000 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 46,897 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 30,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 9,650 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 46,810 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 21,000 WIRE TRANSFER      
SOUTH ASIA ENGAGING A CONSULTANT TO STUDY THE IMPACT OF ACCESS TO AFFORDABLE CREDIT AND GOVERNMENT SCHEME ON THE FINANCIAL HEALTH OF MICRO-ENTREPRENEURS IN NAGALAND 59,000 WIRE TRANSFER      
EAST ASIA AND THE PACIFIC GRANT FOR COVID-19 EMERGENCY ASSISTANCE 50,000 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 24,190 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 20,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 25,785 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 30,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 12,000 WIRE TRANSFER      
SOUTH ASIA ENGAGING A CONSULTANT TO STUDY THE IMPACT OF ACCESS TO AFFORDABLE CREDIT AND GOVERNMENT SCHEME ON THE FINANCIAL HEALTH OF MICRO-ENTREPRENEURS IN NAGALAND 23,600 WIRE TRANSFER      
NORTH AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 24,313 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 12,502 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 30,000 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 21,283 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 50,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 21,362 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 30,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 22,500 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 60,000 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 43,395 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 12,576 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 35,100 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 15,000 WIRE TRANSFER      
NORTH AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 100,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 11,108 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 7,577 WIRE TRANSFER      
SUB-SAHARAN AFRICA DEVELOP ERP/CRM FOR NEW AND EXISTING PRODUCTS 6,400 WIRE TRANSFER      
SUB-SAHARAN AFRICA ENGAGE AN ADVISOR TO PROVIDE ADVISORY SERVICES FOR ESTABLISHING A PAN AFRICAN HOLDING COMPANY 12,500 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 22,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA INCREASE ACCESS TO RECYCLING SERVICES FOR RESIDENTS 10,000 WIRE TRANSFER      
EUROPE FUNDING THE ACQUISITION AND DISTRIBUTION OF EPCS TO RVE.SOLS CUSTOMERS THROUGH AN INNOVATIVE FINANCING APPROACH 166,800 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 34,000 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 383,446 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 24,541 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 50,000 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 100,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 11,180 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 7,900 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 18,500 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 13,804 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 14,100 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 20,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 7,091 WIRE TRANSFER      
SUB-SAHARAN AFRICA ACCELERATOR SCALE-UP AWARD 45,700 WIRE TRANSFER      
SUB-SAHARAN AFRICA IMPACT START-UP RELIEF FUND 100,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 18,096 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 22,065 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 20,000 WIRE TRANSFER      
EUROPE GRANT FOR COVID-19 EMERGENCY ASSISTANCE 48,300 WIRE TRANSFER      
SOUTH ASIA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 50,000 WIRE TRANSFER      
SUB-SAHARAN AFRICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 11,240 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 10,612 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 9,550 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 5,259 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 5,259 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 5,259 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 14,953 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 5,274 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 23,204 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 29,533 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 18,985 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 26,368 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 8,649 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 9,730 WIRE TRANSFER      
LATIN AMERICA GRANT FOR COVID-19 EMERGENCY ASSISTANCE 17,523 WIRE TRANSFER      
EUROPE CONNECT AND CULTIVATE A PIPELINE OF SOCIAL CHANGE MAKERS WHO ARE COMMITTED TO TACKLING POVERTY AND/OR INJUSTICE IN THE UNITED KINGDOM 78,774 WIRE TRANSFER      
SOUTH ASIA CONNECT AND CULTIVATE A PIPELINE OF SOCIAL CHANGE MAKERS WHO ARE COMMITTED TO TACKLING POVERTY AND/OR INJUSTICE IN BANGLADESH 145,225 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
8
3 Enter total number of other organizations or entities .......................MediumBullet
85
Schedule F (Form 990) 2020
Schedule F (Form 990) 2020Page 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)
GRANT FOR COVID-19 EMERGENCY ASSISTANCE SUB-SAHARAN AFRICA 3 115,545 WIRE TRANSFER      
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2020
Schedule F (Form 990) 2020
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) 2020
Schedule F (Form 990) 2020
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 VOTING OR OBSERVER SEAT ON THE INVESTEE COMPANY BOARD AND CONDUCTS AT LEAST ANNUAL REVIEWS OF THE PROGRESS OF THE PROGRAM. FOR ANY GRANTS TO THIRD PARTIES, A GRANT AGREEMENT IS DRAFTED OUTLINING THE SPECIFIC PURPOSE OF THE GRANT, TERMS AND CONDITIONS FOR THE USE OF GRANT MONEY. GRANT FUNDS ARE DISBURSED ONLY AFTER THE GRANTEES SIGN THE GRANT AGREEMENT. DEPENDING UPON THE AMOUNT AND TERM OF GRANT, THE GRANTEES ARE REQUIRED TO MAINTAIN DETAILED RECORDS OF THE USE OF THE GRANT AND PROVIDE PERIODIC REPORTS TO ACUMEN. THE PROGRAM STAFF WILL REVIEW THE GRANTEE REPORTS TO ENSURE COMPLIANCE. ACUMEN PROGRAM STAFF DILIGENTLY SCREENS THE PROSPECTIVE GRANTEES' TRACK 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. IN 2020, ACUMEN LAUNCHED A COVID-19 EMERGENCY FACILITY TO DEPLOY MUCH-NEEDED CAPITAL TO ACUMEN'S INVESTEES AND FELLOWS, BRIDGING THE CRISIS FOR THEIR VENTURES AND STAFF, AND FUNDING THEIR EFFORTS TO SUPPORT THE MOST VULNERABLE. ENTREPRENEURS APPLIED FOR EMERGENCY FUNDING AND THE APPLICATIONS WERE REVIEWED IN ACCORDANCE WITH ACUMEN'S GRANT DISTRIBUTION PROCEDURES.
PART I, LINE 3: PROGRAM-RELATED INVESTMENTS: THE ORGANIZATION HAS A COMPLEX FINANCIAL STRUCTURE THAT IS NOT EASILY SHOWN IN THE FORM 990. TO BETTER UNDERSTAND THE INFORMATION BEING PROVIDED, THE READER SHOULD APPROACH THE FINANCIAL STATEMENTS WITH TWO KEY PIECES OF INFORMATION IN MIND. FIRST, ACUMEN OPERATES PRIMARILY AS A TRADITIONAL NON-PROFIT IN THAT IT RECEIVES CONTRIBUTION REVENUE AND HAS ONGOING OPERATING EXPENSES FOR BOTH PROGRAM WORK AND ADMINISTRATIVE COSTS EACH YEAR. SECONDLY, AND UNLIKE ALMOST ALL OTHER CHARITIES, ACUMEN INVESTS A SUBSTANTIAL PORTION OF ITS ASSETS IN ENTREPRENEURIAL ORGANIZATIONS OPERATING DOMESTICALLY OR IN DEVELOPING COUNTRIES. 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) 2020
Additional Data


Software ID:  
Software Version:  




Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

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
2020
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 42ND STREET 20TH FLOOR
NEW YORK,NY10017 		83-2847769   647,938       SUBAWARDS FOR AGRICULTURAL INVESTING RESEARCH PROJECTS
(2) AZAHAR COFFEE COMPANY LLC
325 EAST 77TH STREET APT 6G
NEW YORK,NY10075 		45-3537132   50,000       GRANT FOR COVID-19 EMERGENCY ASSISTANCE
(3) AZIMUTH GROUP CORP
1B GRAND ARMY PLAZA
BROOKLYN,NY11238 		81-2651720   12,000       IMPROVING SALES STRATEGY
(4) BIOLITE INC
65 JAY ST FLOOR 4
BROOKLYN,NY11201 		27-2826296   50,500       EXPLORE FINANCING OPPORTUNITIES FOR MODERN COOKING SOLUTIONS AND BETTER UNDERSTAND THE POTENTIAL FOR SCALE
(5) BOULDER CARE INC
208 SW HARVEY MILK ST SUITE 200
PORTLAND,OR97204 		82-2784808   150,000       GRANT FOR ACUMEN AMERICA COVID-19 EMERGENCY RELIEF
(6) BRCK INC
12472 LAKE UNDERHILL RD 330
ORLANDO,FL32828 		46-3878519   50,000       GRANT FOR COVID-19 EMERGENCY ASSISTANCE
(7) BURN MANUFACTURING CO
18850 103RD AVENUE SW SUITE 220
CITY OF VASHON COUNTY,WA98070 		45-3247706   160,500       SUPPORT BURNS PREPARATION TO LAUNCH COMMERCIAL PAYG EPCS AND A PILOT OF 100 PAYG EPCS
(8) BW INDUSTRIES INC
700 VAN NESS AVENUE
FRESNO,CA93721 		84-2292459   100,000       GRANT FOR ACUMEN AMERICA COVID-19 EMERGENCY RELIEF
(9) CLIMB CREDIT INC
133 WEST 19TH ST 4TH FLOOR
NEW YORK,NY10011 		47-1345761   150,000       GRANT FOR ACUMEN AMERICA COVID-19 EMERGENCY RELIEF
(10) CLIMB CREDIT INC
133 WEST 19TH ST 4TH FLOOR
NEW YORK,NY10011 		47-1345761   35,000       INVEST IN TECHNOLOGY INFRASTRUCTURE TO SCALE THE CAPTURE AND SYNTHESIS OF OUTCOMES DATA
(11) CONSEJOSANO INC
5200 LANKERSHIM BLVD SUITE 310
NORTH HOLLYWOOD,CA91601 		81-5164953   150,000       GRANT FOR ACUMEN AMERICA COVID-19 EMERGENCY RELIEF
(12) EARNUP INC
2370 MARKET STREET SUITE 203
SAN FRANCISCO,CA94114 		46-3307882   150,000       GRANT FOR ACUMEN AMERICA COVID-19 EMERGENCY RELIEF
(13) ENLIGHT INSTITUTE
7669 SOUTH MYRTLE AVE
TEMPE,AZ85284 		83-0866066   19,500       GRANT FOR COVID-19 EMERGENCY ASSISTANCE
(14) ENZI INC
5668 FREEWILL LN
VIRGINIA BEACH,VA23464 		85-1945912   17,836       GRANT FOR COVID-19 EMERGENCY ASSISTANCE
(15) ESUSU FINANCIAL INC
215 WEST 125TH ST SUITE 410
NEW YORK,NY10027 		82-4311750   150,000       GRANT FOR ACUMEN AMERICA COVID-19 EMERGENCY RELIEF
(16) EVERYTABLE PBC
230 WEST AVE 26
LOS ANGELES,CA90031 		47-5369929   100,000       GRANT FOR ACUMEN AMERICA COVID-19 EMERGENCY RELIEF
(17) HEALTHIFY INC
77 WATER STREET SUITE 2403
NEW YORK,NY10005 		46-3533797   200,000       GRANT FOR ACUMEN AMERICA COVID-19 EMERGENCY RELIEF
(18) ID INSIGHT INC
785 MARKET STREET SUITE 200
SAN FRANCISCO,CA94103 		27-4933181 501(C)(3) 472,274       USE STATISTICAL METHODS TO EXPLORE THE CAUSAL LINKS BETWEEN THREE POULTRY COMPANIES AND IMPROVEMENTS IN WELL-BEING FOR FARMER HOUSEHOLDS REARING THEIR CHICKENS
(19) IMANI COLLECTIVE
10611 GARLAND RD UNIT 102
DALLAS,TX75218 		45-1558325 501(C)(3) 14,514       GRANT FOR COVID-19 EMERGENCY ASSISTANCE
(20) MASSACHUSETTS INSTITUTE OF TECHNOLOGY
77 MASSACHUSETTS AVENUE
CAMBRIDGE,MA02139 		04-2103594 501(C)(3) 10,000       SUBAWARD TO DEVELOP A SUITE OF RESOURCES FOR STUDENT SOCIAL INNOVATION COMPETITIONS
(21) MINDRIGHT HEALTH INC
1 WASHINGTON PLACE 7TH FLOOR
NEWARK,NJ07102 		84-2285932   100,000       GRANT FOR COVID-19 EMERGENCY ASSISTANCE
(22) MYVILLAGE LLC
300 MAGNOLIA DRIVE
NEDERLAND,CO80466 		36-4902854   245,000       GRANT FOR COVID-19 EMERGENCY ASSISTANCE AND COMPLETE THE TRAININGS FOR THE FIRST PHASE OF EDUCATOR DEVELOPMENT
(23) REFUSHE INC
1111 N WELLS ST SUITE 307
CHICAGO,IL60610 		26-0239864 501(C)(3) 12,103       GRANT FOR COVID-19 EMERGENCY ASSISTANCE
(24) REGENTS OF THE UNIVERSITY OF CALIFORNIA
2195 HEARST AVENUE ROOM 159
BERKELEY,CA947201101 		94-6002123 501(C)(3) 50,000       SUBAWARD TO DEVELOP A SUITE OF RESOURCES FOR STUDENT SOCIAL INNOVATION COMPETITIONS
(25) REGENTS OF THE UNIVERSITY OF MICHIGAN
PO BOX 223131
PITTSBURGH,PA15251 		38-6006309 501(C)(3) 10,000       SUBAWARD TO DEVELOP A SUITE OF RESOURCES FOR STUDENT SOCIAL INNOVATION COMPETITIONS
(26) RESOLVE INNOVATIONS INC
344 20TH ST
OAKLAND,CA94612 		82-1027243   100,000       GRANT FOR ACUMEN AMERICA COVID-19 EMERGENCY RELIEF
(27) SIMUSOLAR INC
2810 NORTH CHURCH STREET PMB 76691
WILMINGTON,DE19802 		47-2154274   33,247       FUNDING THE RESEARCH ON HOW GENDER DIMENSIONS OF SMALLHOLDER FARMERS IMPACT THEIR ADOPTION OF SOLAR IRRIGATION
(28) SOCIAL INVESTMENT MANAGERS AND ADVISORS LLC
157 COLUMBUS AVE SUITE 512
NEW YORK,NY10023 		81-2102783   1,000,000       WAREHOUSED LOANS TO ELIGIBLE ENERGY ACCESSCOMPANIES, WHOSE OPERATIONS HAVE BEEN AFFECTED BY THE COVID-19 PANDEMIC, PRIOR TO THE CLOSINGOF THE ENERGY ACCESS RELIEF FUND (EARF)
(29) SOLSTICE POWER TECHNOLOGIES INC
700 MASSACHUSETTS AVENUE STE 38
CAMBRIDGE,MA02139 		32-0493145   50,000       GRANT FOR COVID-19 EMERGENCY ASSISTANCE
(30) STARFISH INTERNATIONAL
9599 CLARECASTLE PATH
BREWERTON,NY130299557 		26-1427966 501(C)(3) 13,028       GRANT FOR COVID-19 EMERGENCY ASSISTANCE
(31) THE RESOLUTION PROJECT INC
420 LEXINGTON AVE SUITE 1626-27
NEW YORK,NY10170 		26-4394051 501(C)(3) 20,000       SUBAWARD TO SUPPORT THE NEXT GENERATION OF SOCIAL INNOVATORS THROUGH THE RESOLUTION PROJECT
(32) UNIVERSITY OF SAN DIEGO
5998 ALCALA PARK
SAN DIEGO,CA92110 		95-2544535 501(C)(3) 150,000       SUBAWARD TO SUPPORT THE NEXT GENERATION OF SOCIAL INNOVATORS THROUGH THE FOWLER GLOBAL SOCIAL INNOVATION CHALLENGE
(33) VIRGINIA ORGANIZATION INC
703 CONCORD AVENUE
CHARLOTTESVILLE,VA229035208 		54-1674992 501(C)(3) 10,000       SUBAWARD FOR RESEARCH ON COMMUNITY EMPOWERMENT IN POST-CONFLICT REGIONS OF COLOMBIA
(34) WINDGEN POWER USA INC
19 WERTSVILLE ROAD
HILLSBOROUGH,NJ08844 		45-3228803   93,000       PILOT ELECTRIC PRESSURE COOKERS (EPCS) WITH A TARGET OF 400 CUSTOMERS BY EOY 2021 TO LEARN ABOUT CONSUMER WILLINGNESS-TO-PAY UNDER TWO DIFFERENT FINANCING SCHEMES: STANDARD CONSUMER LOANS, AND ON BILL FINANCING.
(35) ZING HEALTH ENTERPRISES LP
303 MADISON STREET SUITE 800
CHICAGO,IL60606 		85-0546055   50,000       GRANT FOR ACUMEN AMERICA COVID-19 EMERGENCY RELIEF
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
10
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
25
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2020

Schedule I (Form 990) 2020
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) IKEA SE EAST AFRICA ACCELERATOR & AEF FUNDS 2 26,000      
(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. IN 2020, ACUMEN LAUNCHED THE ACUMEN AMERICA COVID-19 EMERGENCY FACILITY TO DEPLOY MUCH-NEEDED CAPITAL TO ACUMEN'S DOMESTIC INVESTEES AND FELLOWS, BRIDGING THE CRISIS FOR THEIR VENTURES AND STAFF, AND FUNDING THEIR EFFORTS TO SUPPORT THE MOST VULNERABLE. ENTREPRENEURS APPLIED FOR EMERGENCY FUNDING AND THE APPLICATIONS WERE REVIEWED IN ACCORDANCE WITH ACUMEN'S GRANT DISTRIBUTION PROCEDURES.
Schedule I (Form 990) 2020



Additional Data


Software ID:  
Software Version:  


Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
Graphic Arrow Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
Graphic Arrow Attach to Form 990.
Graphic Arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2020
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) 2020

Schedule J (Form 990) 2020
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)		 320,016
-------------
0 		35,750
-------------
0 		0
-------------
0 		10,823
-------------
0 		18,713
-------------
0 		385,302
-------------
0 		0
-------------
0
2CARLYLE SINGER JONES
PRESIDENT 		(i)

(ii)		 273,095
-------------
0 		30,250
-------------
0 		0
-------------
0 		9,158
-------------
0 		9,649
-------------
0 		322,152
-------------
0 		0
-------------
0
3WILLIAM CHARNOCK
CHIEF MARKETING OFFICER 		(i)

(ii)		 247,210
-------------
0 		22,500
-------------
0 		0
-------------
0 		8,241
-------------
0 		18,776
-------------
0 		296,727
-------------
0 		0
-------------
0
4JACQUELINE WOO
CHIEF FINANCIAL OFFICER 		(i)

(ii)		 202,617
-------------
0 		26,670
-------------
0 		0
-------------
0 		7,154
-------------
0 		29,420
-------------
0 		265,861
-------------
0 		0
-------------
0
5OTHO EDGAR KERR
CHIEF INVESTMENT OFFICER 		(i)

(ii)		 245,935
-------------
0 		0
-------------
0 		0
-------------
0 		6,250
-------------
0 		11,809
-------------
0 		263,994
-------------
0 		0
-------------
0
6LYNN ROLAND
BOARD SECRETARY / GENERAL COUNSEL 		(i)

(ii)		 198,069
-------------
0 		25,984
-------------
0 		0
-------------
0 		6,972
-------------
0 		28,625
-------------
0 		259,650
-------------
0 		0
-------------
0
7YASMINA ZAIDMAN CHIEF
STRATEGIC PARTNERSHIPS OFFICER 		(i)

(ii)		 206,400
-------------
0 		25,575
-------------
0 		0
-------------
0 		6,959
-------------
0 		390
-------------
0 		239,324
-------------
0 		0
-------------
0
8AMRITA BHANDARI
CHIEF OF BUSINESS DEVELOPMENT 		(i)

(ii)		 198,990
-------------
0 		26,899
-------------
0 		0
-------------
0 		6,777
-------------
0 		390
-------------
0 		233,056
-------------
0 		0
-------------
0
9CATHERINE C NANDA
DIRECTOR, ACUMEN AMERICA 		(i)

(ii)		 178,944
-------------
0 		17,100
-------------
0 		0
-------------
0 		6,102
-------------
0 		27,651
-------------
0 		229,797
-------------
0 		0
-------------
0
10JOANNA MCQUADE
DIRECTOR, TALENT 		(i)

(ii)		 182,995
-------------
0 		23,767
-------------
0 		0
-------------
0 		6,260
-------------
0 		9,649
-------------
0 		222,671
-------------
0 		0
-------------
0
11AMON ANDERSON
DIRECTOR, ACUMEN AMERICA 		(i)

(ii)		 167,958
-------------
0 		25,825
-------------
0 		0
-------------
0 		5,874
-------------
0 		9,771
-------------
0 		209,428
-------------
0 		0
-------------
0
12ELEANOR MURPHY HEAD OF
BUSINESS DEVELOPMENT, EAST COAST 		(i)

(ii)		 148,024
-------------
0 		16,500
-------------
0 		0
-------------
0 		5,073
-------------
0 		16,330
-------------
0 		185,927
-------------
0 		0
-------------
0
13JO-ANN TAN
DIRECTOR, LEADERSHIP 		(i)

(ii)		 157,700
-------------
0 		16,353
-------------
0 		0
-------------
0 		5,221
-------------
0 		390
-------------
0 		179,664
-------------
0 		0
-------------
0
14ALEXANDRA TRABULSI HEAD OF
BUSINESS DEVELOPMENT, WEST COAST 		(i)

(ii)		 152,600
-------------
0 		21,000
-------------
0 		0
-------------
0 		5,208
-------------
0 		390
-------------
0 		179,198
-------------
0 		0
-------------
0
15SABRINA LEE ORTEGA SANCHEZ
HEAD OF BUSINESS DEV., FOUNDATIONS 		(i)

(ii)		 139,928
-------------
0 		11,169
-------------
0 		0
-------------
0 		4,607
-------------
0 		10,216
-------------
0 		165,920
-------------
0 		0
-------------
0
16BATOOL HASSAN
DIRECTOR, LEADERSHIP 		(i)

(ii)		 144,500
-------------
0 		14,555
-------------
0 		0
-------------
0 		4,772
-------------
0 		390
-------------
0 		164,217
-------------
0 		0
-------------
0
Schedule J (Form 990) 2020

Schedule J (Form 990) 2020
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) 2020

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
2020
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 11 684,847 FMV
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
0
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) (2020)
Schedule M (Form 990) (2020)
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) (2020)

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
2020
Open to Public
Inspection
Name of the organization
ACUMEN FUND INC
 
Employer identification number

13-4166228
Return Reference Explanation
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 12/31/20 IS $168,754.
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. THE CEO, IN CONSULTATION WITH THE PRESIDENT AND DIRECTOR OF TALENT, DETERMINES SALARIES OF THE OTHER MEMBERS OF SENIOR MANAGEMENT OF THE ORGANIZATION USING THE SAME PROCESSES AS DESCRIBED ABOVE.
FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION POSTS ITS FORM 990 AND AUDITED FINANCIAL STATEMENTS ON ITS PUBLICLY ACCESSIBLE WEBSITE WWW.ACUMEN.ORG. CURRENT YEAR INFORMATION IS POSTED AS IT BECOMES AVAILABLE AND TWO PRIOR YEAR'S RESULTS ARE MAINTAINED ONLINE. THE ORGANIZATION ALSO PROVIDES ITS INFORMATION TO CHARITY NAVIGATOR AND GUIDESTAR.ORG. PUBLIC INFORMATION ABOUT ACUMEN IS AVAILABLE ON THE WEBSITE OF THE NYS ATTORNEY GENERAL CHARITIES BUREAU, AS WELL AS UPON REQUEST. THE FORM 1023 IS MADE AVAILABLE UPON REQUEST. THE GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON SPECIFIC REQUEST, AND A SUMMARY OF THE CONFLICT OF INTEREST POLICY IS AVAILABLE ON THE FORM 990. THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). IN ADDITION, THE FORM 990 WITHOUT SCHEDULE B IS AVAILABLE VIA A LINK ON OUR WEBSITE TO THE PROFILE ON GUIDESTAR.
FORM 990, PART XI, LINE 9: FOREIGN CURRENCY TRANSLATION LOSS 73,517. CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST 17,451. ASSET TRANSFERS -361,307.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2020


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
2020
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 PARTNERS (ARAF) LTD
40 WORTH STREET SUITE 303
NEW YORK,NY10013
98-1546121 		FINANCIAL SERVICES KE 34,978 130,050 ACUMEN CAPITAL PARTNERS LLC
 
(2) ACUMEN CAPITAL PARTNERS (EA) LTD
40 WORTH STREET SUITE 303
NEW YORK,NY10013
98-1551441 		FUND MANAGER KE 243,576 223,066 ACUMEN CAPITAL PARTNERS LLC
 
(3) ACUMEN CAPITAL MARKET INVESTMENTS LLC
40 WORTH STREET SUITE 303
NEW YORK,NY10013
36-4796906 		CARRYING VEHICLE DE     ACUMEN CAPITAL PARTNERS LLC
 
(4) ACUMEN RESILIENT AGRICULTURE CAPITAL INVESTMENTS LLC
40 WORTH STREET SUITE 303
NEW YORK,NY10013
83-1263292 		CARRYING VEHICLE DE     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 FL 1ST COMMERCIAL LAN
KARACHI    
PK
INVESTING IN SOCIAL ENTERPRISE PK 501(C)(3)   ACUMEN FUND INC
 
Yes
 
(2)ACUMEN FUND CANADA
700 WEST GEORGIA STREET 25TH FLOOR
VANCOUVER   V7Y 1B3
CA
ALLEVIATE POVERTY CA 501(C)(3)   ACUMEN FUND INC
 
Yes
 
(3)AF TRUST
201 DHEERAJI PLAZA HILL ROAD BAN
MUMBAI   400050
IN
LEADERSHIP IN 501(C)(3)   ACUMEN FUND INC
 
Yes
 
(4)ACUMEN FUND WEST AFRICA LTDGTE
PLOT 18 SIKIRU ALADE OLOKO CRESCENT
LAGOS    
NI
INVESTING IN SOCIAL ENTERPRISES NI 501(C)(3)   ACUMEN FUND INC
 
Yes
 






For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2020
Schedule R (Form 990) 2020
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 50,547 1,214,885   No 31,790 Yes   16.240 %
(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 32,313 10,368,118   No     No 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 8,003 488,794   No     No 3.620 %
(4) ACUMEN CAPITAL MARKETS LATIN AMERICA EARLY GROWTH LLC

40 WORTH STREET STE 303
NEW YORK,NY10013
82-0973614 		INVESTING IN SOCIAL ENTERPRISES 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 4,828 406,416   No     No 4.730 %




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
MUMBAI   400050
IN
ADVISORY SERVICES IN ACUMEN FUND INC
  		C 813,325 1,706,787 99.900 % Yes  
(2) ACUMEN CAPITAL PARTNERS LLC

40 WORTH STREET STE 303
NEW YORK,NY10013
32-0450985 		FUND MANAGER DE ACUMEN FUND INC
  		C 3,597,877 4,776,134 100.000 % Yes  
(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 % Yes  
(4) UNDER THE MANGO TREE

A 412 BYCULLA SERVICE INDUSTRIES C
MUMBAI    
IN
BEEKEEPING IN ACUMEN FUND INC
  		C     82.140 % Yes  
(5) ACUMEN EA ADVISORY SERVICES LTDGTE

3RD FLOOR ABC TOWERS WAIYAKI WAY
NAIROBI    
KE
ADVISORY SERVICES KE ACUMEN FUND INC
  		C 1,642,744 838,558 100.000 % Yes  
(6) ACUMEN EAST AFRICA INSTITUTE LIMITED

3RD FLOOR ABC TOWERS WAIYAKI WAY
NAIROBI    
KE
NO ACTIVITY KE ACUMEN FUND INC
  		C     100.000 % Yes  


Schedule R (Form 990) 2020
Schedule R (Form 990) 2020
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
Yes
 
c Gift, grant, or capital contribution from related organization(s) ............................
1c
 
No
d Loans or loan guarantees to or for related organization(s) ............................
1d
Yes
 
e Loans or loan guarantees by related organization(s) ............................
1e
 
No
f Dividends from related organization(s) ............................
1f
Yes
 
g Sale of assets to related organization(s) ............................
1g
Yes
 
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 WEST AFRICA LTDGTE

 B 981,514 COST
(2) ACUMEN EA ADVISORY SERVICES LTD

 B 230,912 COST
(3) ACUMEN FUND ADVISORY SERVICES INDIA PRIVATE LIMITED

 F 143,023 COST
(4) ACUMEN EA ADVISORY SERVICES LTD

 G 370,191 FMV
(5) ACUMEN FUND ADVISORY SERVICES INDIA PRIVATE LIMITED

 M 678,342 FMV
(6) ACUMEN EA ADVISORY SERVICES LTD

 M 1,639,016 FMV
(7) ACUMEN RESILIENT AGRICULTURE FUND LP

 Q 183,333 COST
(8) ACUMEN CAPITAL PARTNERS LLC

 Q 180,534 COST
Schedule R (Form 990) 2020
Schedule R (Form 990) 2020
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) 2020
Schedule R (Form 990) 2020
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. See instructions.
Return Reference Explanation
SCHEDULE R, PART III: ACUMEN FUND, INC. DIRECTLY INVESTS IN KAWISAFI VENTURES LIMITED ("KAWISAFI"). ACUMEN CAPITAL PARTNERS, LLC ("ACP") WHICH IS SOLELY OWNED BY ACUMEN FUND, INC. IS A MANAGING MEMBER OF KAWISAFI AND ACP OWNS 100% OF ACUMEN CAPITAL MARKETS INVESTMENT, LLC WHICH WAS ESTABLISHED TO HOLD SHARES IN KAWISAFI. ACUMEN FUND, INC. DIRECTLY INVESTS IN ACUMEN LATIN AMERICA EARLY GROWTH FUND, LP ("ALAEG"). ACP WHICH IS SOLELY OWNED BY ACUMEN FUND, INC. OWNS 49% OF ACUMEN CAPITAL MARKETS LATIN AMERICA EARLY GROWTH LLC WHICH IS A GENERAL PARTNER OF ALAEG. ACP IS THE GENERAL PARTNER OF ACUMEN CAPITAL MARKETS LATIN AMERICA EARLY GROWTH LLC. ACP IS 100% OWNED BY ACUMEN FUND, INC. ACUMEN FUND, INC. THROUGH ACP THROUGH ACUMEN RESILIENT AGRICULTURE CAPITAL INVESTMENTS LLC (A DISREGARDED ENTITY TO ACP) IS A GENERAL PARTNER TO ACUMEN RESILIENT AGRICULTURE FUND LP.
Schedule R (Form 990) 2020

Additional Data


Software ID:  
Software Version: