Acumen Fund Inc

What it reported doing in 2024

Investing and portfolio management: we invest across the capital continuum to help transformational companies grow from seed to scale. 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 healthcare, 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. [see continuation on schedule o]acumen made 32 new and follow-on investments in 2024, reaching a cumulative $185 million invested in 201 businesses serving people living in poverty. We also pool capital to scale strategic solutions to problems of poverty in specific sectors and geographies, using blended finance. Our four sponsored funds, currently managed under acumen capital partners include: kawisafi ($67m aum), focuses on clean energy and climate mitigation in east africa; acumen resilient agriculture fund ($58m aum), focuses on climate resilience for smallholder farmers in east and west africa; and acumen latin america early growth funds i and ii ($73m aum), managed by acumen latam impact ventures, a team owned manager, focused on energy access, workforce, agriculture, and tech.

Financial Efficiency

• Mission deployment rate: 57%; rating input score 57
• Program expense ratio: 77.4%; rating input score 77
• Fundraising efficiency: $11.88 raised per $1 spent on fundraising; rating input score 43; 43rd percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.4%; rating input score 94; 22nd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 4 of 8 controls in place; rating input score 50
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Pass
  • May suspend future funding: Fail
  • Requires financial reports: Pass
  • Conducts site visits: Fail
  • Requires grant agreements: Pass
  • May require repayment: Fail
• Grant itemization coverage: 99.6%; rating input score 100; 35th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 91.7%; rating input score 92; 24th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 26.2%; rating input score 86; 86th percentile among comparable filings
• Total-asset coverage ratio: 6.35; rating input score 87; 87th percentile among comparable filings
• Liabilities to assets ratio: 0.06; rating input score 81; 81st percentile among comparable filings
• Officer compensation ratio: 11.6%; rating input score 15; 15th percentile among comparable filings

Growth

• Program expense growth: 6.7% per year; rating input score 100; 54th percentile among comparable filings
• Revenue growth: 8.9% per year; rating input score 100; 69th percentile among comparable filings
• Asset growth: 7.2% per year; rating input score 100; 50th percentile among comparable filings