Overview
What is Acumen Fund Inc?
Acumen Fund Inc, based in New York, is a nonprofit organization dedicated to improving the lives of millions living in poverty by investing in companies, leaders, and ideas. Since 2001, they have invested $154 million in 167 social enterprises across agriculture, education, energy, financial inclusion, health, housing, water and sanitation, and workforce development, in regions such as South Asia, East and West Africa, Latin America, and the United States. Their mission is to change the way the world tackles poverty, envisioning a future where everyone has access to essential goods and services. Acumen Academy, launched in 2020, is a global community of emerging leaders working towards a more just, inclusive, and sustainable world. The organization has also initiated the Pioneer Energy Investment Initiative (PEII+), focusing on productive use of energy technologies to boost incomes and improve livelihoods.
Official website here: www.acumen.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 99%
Acumen Fund Inc has achieved an impressive Four-Star out of Four Star rating from Charity Navigator, indicating a high level of accountability and financial health. The organization boasts a perfect score for its accountability and finance measures, with 91% of its board members being independent. The strong oversight mechanisms in place, including transparent financial reporting and a solid conflict of interest policy, demonstrate its commitment to ethical governance.
User feedback highlights Acumen's mission of fostering entrepreneurship in developing countries, which resonates with volunteers and supporters. Reviews indicate that Acumen's approach to empowering individuals through business opportunities is both impactful and meaningful. The organization's emphasis on sustainable development through teaching individuals to generate their own income has garnered positive acknowledgement from those involved.
However, it is worth noting a limitation regarding the absence of a donor privacy policy. Despite this, Acumen's overall financial management and program efficiency, with an impressive 81.52% of expenses directed towards its programs, position it as a leading nonprofit in its field.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Acumen Fund Inc legitimate?
Acumen Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Acumen Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,056,898
Professional Fundraising Fees: $0
Other Salaries and Wages: $8,127,873
For more financial information, click here
Official website here: www.acumen.org
What is the mission statement of Acumen Fund Inc?
Acumen Fund Inc's mission is to transform the way poverty is addressed worldwide by investing in companies, leaders, and ideas. Their goal is to ensure that every human being has access to essential goods and services, including affordable healthcare, clean energy, education, water and sanitation, housing, financial services, and agriculture. Since 2001, they have invested over $154 million in 167 social enterprises across agriculture, education, energy, financial inclusion, health, housing, water and sanitation, and workforce development. The organization also fosters emerging leaders through Acumen Academy, which includes the Fellows Program and previously named online courses, to create sustainable solutions to poverty.
Official website here: www.acumen.org
Who is the CEO of Acumen Fund Inc?
Jacqueline Novogratz is the Ceo & Director of Acumen Fund Inc. The CEO's salary of Acumen Fund Inc is $356,530 and their total compensation is $389,276.
Official website here: www.acumen.org
What is the revenue of Acumen Fund Inc?
Acumen Fund Inc's revenue in 2022 was $61,117,505.
Official website here: www.acumen.org
Who are the executives of Acumen Fund Inc and what are their salaries?
The average compensation at Acumen Fund Inc during 2022 was $115,307. There are 97 employees and 14 volunteers at Acumen Fund Inc.
Here are 30 key members and their salaries (Acumen Fund Inc's CEO's salary is $356,530 and their total compensation is $389,276):
- Compensation: $356,530
- Related: $0
- Other: $32,746
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $325,418
- Related: $0
- Other: $20,999
- Compensation: $248,928
- Related: $0
- Other: $40,394
- Compensation: $244,540
- Related: $0
- Other: $40,921
- Compensation: $279,462
- Related: $0
- Other: $30,505
- Compensation: $255,799
- Related: $0
- Other: $8,077
- Compensation: $250,997
- Related: $0
- Other: $7,933
- Compensation: $218,685
- Related: $0
- Other: $40,145
- Compensation: $228,804
- Related: $0
- Other: $7,267
- Compensation: $215,445
- Related: $0
- Other: $17,724
- Compensation: $179,784
- Related: $0
- Other: $5,797
- Compensation: $0
- Related: $254,920
- Other: $41,133
- Compensation: $178,049
- Related: $0
- Other: $24,529
- Compensation: $183,216
- Related: $0
- Other: $5,900
- Compensation: $168,915
- Related: $0
- Other: $16,179
- Compensation: $179,453
- Related: $0
- Other: $5,619
Official website here: www.acumen.org
Where can I find the form 990 for Acumen Fund Inc?
Acumen Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.acumen.org
Learn more at the official website: www.acumen.org
Mission Statement of Acumen Fund Inc
Acumen Fund Inc, a leading organization in the fight against poverty, is on a mission to change the way the world approaches this complex issue. Through patient capital investments in companies, leaders, and ideas, Acumen aims to deliver critical, affordable goods and services to people living in poverty. Based in South Asia, East and West Africa, Latin America, and the United States, Acumen has invested $154 million in 167 social enterprises since 2001. These enterprises focus on agriculture, education, energy, financial inclusion, health, housing, water and sanitation, and workforce development.
Acumen's impact extends beyond financial investments. The organization also builds a global community of emerging leaders through Acumen Academy, the school for social change, launched in 2020. Acumen Academy offers programs such as the Fellows Program and previously named +Acumen Online Courses. By investing in both businesses and individuals, Acumen is creating long-term, sustainable solutions to poverty. Acumen's vision is a world where every human being has access to essential goods and services, enabling them to transform their lives and live with dignity.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Acumen Fund Inc. is actively transforming the landscape of poverty alleviation through strategic investments in impactful businesses. By focusing on patient capital, Acumen invests in companies that provide essential services—such as healthcare, education, clean energy, water and sanitation, housing, and financial services—tailored to low-income communities. Since its inception in 2001, Acumen has invested over $154 million in 167 social enterprises across regions including South Asia, East and West Africa, Latin America, and the United States, improving the lives of millions.
In 2022, Acumen further intensified its efforts by launching the Pioneer Energy Investment Initiative: Powering Livelihoods Using Solar (PEII+). This $25 million initiative aims to promote the productive use of energy technologies, thereby enhancing incomes and livelihoods for underserved communities.
Acumen is not only focused on financial investments but is also dedicated to cultivating a global community of emerging leaders through the Acumen Academy. This initiative offers training programs designed to inspire and equip individuals to tackle social challenges, fostering a network of changemakers committed to creating a more just and sustainable world.
Through these multifaceted efforts, Acumen Fund Inc. is paving the way for long-term solutions to poverty, ensuring that every individual has access to critical goods and services necessary for transforming their lives.
This information is meant to be a general summary of Acumen Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,345,663
- Program Service Revenue: $954,784
- Gross Receipts: $64,141,384
Assets and Liabilities:
- Total Assets: $187,205,036
- Total Liabilities: $10,806,671
- Net Assets: $176,398,365
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$815,810
PGM RELATED LOAN INCOME
Revenue
$138,974
Organization Details
Founding Year
2001
Phone
(212) 566-8821Principal Officer
Jacqueline Novogratz
Main Address
40 WORTH STREET 303, NEW YORK, NY, 10013
Website
www.acumen.orgNTEE Category
Code: Q123 - International
If you are a representative of Acumen Fund Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.