2023-11-06T10:26:48-06:00 2022-12-31 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2022-01-01 843344516 ACELI AFRICA INC ACEL 2029877700 1401 K STREET NW 900 WASHINGTON DC 20005 ELIZABETH VANDERWOUDE CFO/TREASURER 2029877700 2023-11-02 1 ELIZABETH VANDERWOUDE XXX-XX-XXXX 0 AARON M FOX P01365820 2022274000 2023-11-02 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ELIZABETH VANDERWOUDE 1401 K STREET NW 900 WASHINGTON DC 20005 6248119 0 X ACELIAFRICA.ORG X 2019 NY ACELI INCENTIVISES INCREMENTAL LENDING TO SMES TO THE LEAST SERVED MARKET SEGMENTS. 5 4 0 10 0 0 3826704 5957657 0 280426 0 5988 0 4048 3826704 6248119 125277 341116 0 0 0 0 0 0 0 3454730 5715802 3580007 6056918 246697 191201 4489153 8326455 4264883 7910984 224270 415471 X ACELI WAS CREATED TO BRIDGE THE FINANCE GAP AND UNLOCK THE GROWTH AND IMPACT POTENTIAL OF AGRICULTURAL SMES IN AFRICA BY INCENTIVIZING INCREMENTAL LENDING TO THE LEAST SERVED AND MOST IMPACTFUL SEGMENTS OF THE MARKET. 0 0 5778623 341116 280426 ACELI AFRICA'S TARGET IS TO UNLOCK $600M IN PRIVATE SECTOR LENDING FOR INCLUSIVE AGRICULTURAL SMES IN EAST AFRICA THROUGH YEAR-END 2025. WITH ACCESS TO LENDING, AGRICULTURAL SMES CAN DRIVE IMPROVEMENTS IN THE PRODUCTIVITY AND MARKET ACCESS OF SMALLHOLDERS, WHILE CREATING JOBS ACROSS THE VALUE CHAIN. IN THE FIRST 28 MONTHS OF OPERATIONS (SEPT 2020-DECEMBER 2022), ACELI REGISTERED 724 LOANS TOTALING $85M WITH 27 LENDERS ACROSS KENYA RWANDA, TANZANIA, AND UGANDA. THE ENTERPRISES RECEIVING THESE LOANS CREATE MARKET ACCESS FOR 517K SMALLHOLDER FARMERS AND EMPLOY 16K FULL-TIME WORKERS.OF THESE LOANS, 52% ARE TO NEW BORROWERS (DEFINED AS NOT HAVING RECEIVED A LOAN OF $25K+ FROM ANY LENDER IN THE PRIOR THREE YEARS), 59% QUALIFY FOR THE GENDER INCLUSION IMPACT BONUS, 59% QUALIFY FOR THE FOOD SECURITY IMPACT BONUS, AND 20% QUALIFY FOR THE CLIMATE SMART AND RESILIENT AGRICULTURE IMPACT BONUS. AS OF DECEMBER 2022, 30 LENDERS HAD SIGNED LEGAL AGREEMENTS WITH ACELI AND AN ADDITIONAL 10 WERE IN NEGOTIATIONS OR IN THE PROCESS OF SIGNING. OF THE 30 ACCREDITED LENDERS, TWO-THIRDS ARE COMMERCIAL BANKS OR NON-BANK FINANCIAL INSTITUTIONS DOMICILED IN EAST AFRICA. AS OF DEC 2022, ACELI'S MAXIMUM FIRST-LOSS VALUE TOTALS $3.7M AND THE MAXIMUM ORIGINATION INCENTIVES VALUE TOTALS $3.8M, FOR 724 APPROVED LOANS TOTALING $85M. THE NEXT PAYOUT FOR LENDERS WAS SCHEDULED FOR JANUARY 30, 2023. ACELI AFRICA'S TARGET IS TO INCREASE ADDRESSABLE DEMAND BY PROVIDING TECHNICAL ASSISTANCE TO OVER 500 AGRICULTURAL SMES THROUGH YEAR-END 2025 TO IMPROVE THEIR CAPACITY TO ACCESS AND MANAGE FINANCE. ACELI OFFERS A TECHNICAL ASSISTANCE PROGRAM FOR EARLY-STAGE AGRICULTURAL SMES WITH ANNUAL REVENUES OF $50K-500K, LIMITED ACCESS TO FINANCE, AND BASIC NEEDS IN BUSINESS AND FINANCIAL MANAGEMENT. OUR PARTNER, AFRICA MANAGEMENT INSTITUTE (AMI) IMPLEMENTS THE VIRTUAL TECHNICAL ASSISTANCE PROGRAM - A SERIES OF SEVEN WEBINARS AND COLLABORATION IN A PEER-LEARNING NETWORK - PAIRED WITH 10 HOURS OF INDIVIDUALIZED COACHING BY WYLDE INTERNATIONAL FOR THE LEADERSHIP TEAM FROM EACH AGRI-SME. THE SELECTED SMES ARE LOCATED ACROSS ALL FOUR FOCUS COUNTRIES. OVERALL, PARTICIPATING SMES PROVIDE POSITIVE FEEDBACK FROM THE PROGRAM. WE HAVE ALSO DEVELOPED AND LAUNCHED OUR TA OFFERING FOR GROWTH AND LATE-STAGE AGRICULTURAL SMES THAT HAVE OUTGROWN THE BASIC NEEDS OF EARLY-STAGE SMES BUT STILL STRUGGLE TO QUALIFY FOR AND/OR MANAGE FINANCING (ANNUAL REVENUES OF $500K-$5M). OUR OFFERING IS TARGETED TO ADDRESS SPECIFIC BARRIERS, INCLUDING INTERNAL OPERATIONS, DATA MANAGEMENT, AND MANAGERIAL CAPACITY. TECHNOSERVE HAS BEEN CHOSEN AS THE SERVICE PROVIDER FOR GROWTH-STAGE SME COHORTS. IN LIGHT OF THE DIVERGENT AND SPECIFIC NEEDS OF LATE-STAGE SMES, WE HAVE CONTRACTED SEVEN PROVIDERS ACROSS ACELI'S FOUR FOCUS COUNTRIES TO OFFER CUSTOMIZED TO TA TO LATE-STAGE SMES. INTERESTED SMES UNDERGO A DIAGNOSTIC AND ARE OFFERED A VOUCHER THAT COVERS A PORTION OF THE COST OF TA. 5778623 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 4 0 1 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X THE ORGANIZATION 2029877700 1401 K STREET NW 900 WASHINGTON DC 20005 ANDREW STERN BOARD DIRECTOR, CEO OF GDI 2.00 28.00 X 0 190624 32601 BRIAN MILDER FOUNDER, CEO 8.00 32.00 X 0 206530 14900 ELIZABETH VANDERWOUDE CFO/TREASURER 8.00 24.00 X 0 166600 12539 TOM CARROLL SECRETARY 2.00 2.00 X X 0 0 0 SEWIT AHDEROM BOARD DIRECTOR 2.00 X 0 0 0 TITIANNE DONDE BOARD DIRECTOR 2.00 X 0 0 0 GRETCHEN PHILLIPS BOARD DIRECTOR 2.00 2.00 X 0 0 0 0 563754 60040 0 0 1 0 GLOBAL DEVELOPMENT INCUBATOR KENYA SANLAM TOWER 4TH FLOOR WAIYAKI WAY NAIROBI KE PROFESSIONAL SERVICES/CONSULTANCY 925440 60 DECIBELS 228 PARK AVENUE S PMB 54413 NEW YORK NY 10003 PROFESSIONAL SERVICES/CONSULTANCY 452945 DALBERG GLOBAL DEVELOPMENT ADVISORS KENY THE ATRIUM 5TH FLOOR CHAKA ROAD NAIROBI KE PROFESSIONAL SERVICES/CONSULTANCY 217149 WYLDE INTERNATIONAL LTD PIONEER POINT CHANIA AVENUE KILIM NAIROBI KE PROFESSIONAL SERVICES/CONSULTANCY 158781 MWALLU MWACHANG'A PO BOX 8620 DAR ES SALAAM TZ PROFESSIONAL SERVICES/CONSULTANCY 141359 8 4695248 1262409 5957657 CONTRACT SERVICES 900099 280426 280426 280426 5988 5988 REIMBURSEMENTS 900099 4048 4048 4048 6248119 280426 0 10036 X 341116 341116 988 988 28364 8320 20044 3443022 3216958 226064 11050 11050 34180 4474 29706 3198 1744 1454 1000 1000 331098 331059 39 408 408 LENDER PAYMENTS 1862494 1862494 6056918 5778623 278295 0 3354042 5472681 548751 1289467 431740 1496267 154620 68040 4489153 8326455 746041 1067485 3518842 6843499 4264883 7910984 X 224270 415471 224270 415471 4489153 8326455 191201 0 X 0 1 X 1 1 1 X 763265 3826704 5957657 10547626 763265 3826704 5957657 10547626 10547626 5988 5988 10553614 280426 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 GRANT ADVANCE PAYABLES TO RELATED PARTY 1265617 REFUNDABLE GRANT ADVANCES 5577882 6843499 X 6248119 0 6248119 0 6248119 6056918 0 6056918 0 6056918 PART X, LINE 2: ACELI PERFORMED AN EVALUATION OF UNCERTAINTY IN INCOME TAXES FOR THE YEAR ENDED DECEMBER 31, 2022, AND DETERMINED THAT THERE ARE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. 0 SUB-SAHARAN AFRICA 1 20 PROGRAM SERVICES IMPLEMENTATION OF THE ACELI AFRICA PROGRAM - BUILDING THE FINANCE MARKET FOR AN INCLUSIVE AGRICULTURE SECTOR IN AFRICA. 4439676 EUROPE 0 0 GRANTMAKING 341116 1 20 0 0 1 20 4780792 0 4780792 EUROPE(INCLUDING ICELAND AND GREENLAND EVALUATION DESIGN FOR ACELI AFRICA 341116 WIRE TRANSFER 0 1 0 1 0 0 0 0 0 PART I, LINE 2: AFTER ACELI DISTRIBUTES GRANTS, THEY REQUIRE GRANTEES TO PROVIDE FINANCIAL REPORTS AND WHERE RELEVANT ASSOCIATED BACK - UP DETAILS. IN ADDITION, THE DIRECTORS AND MANAGERS MONITOR THE INTERNATIONAL GRANTEES CLOSELY THROUGHOUT THE YEAR. THIS IS ACCOMPLISHED THROUGH REGULAR EMAIL COMMUNICATION, CONFERENCE CALLS, AND SITE VISITS AND IN SOME CASES THROUGH DETAILED MANAGEMENT OF THE ORGANIZATION'S FINANCIAL RECORDS. PART I, LINE 3: IN ACCORDANCE WITH IRS INSTRUCTIONS, ALL AMOUNTS REPORTED ON PARTS II OF SCHEDULE F ARE REPORTED USING THE ACCRUAL BASIS OF ACCOUNTING, THE SAME METHOD OF ACCOUNTING USED IN THE FINANCIAL STATEMENTS. PART II, LINE 1 ACCOUNTING METHOD: IN ACCORDANCE WITH IRS INSTRUCTIONS, ALL AMOUNTS REPORTED ON PARTS II OF SCHEDULE F ARE REPORTED USING THE ACCRUAL BASIS OF ACCOUNTING, THE SAME METHOD OF ACCOUNTING USED IN THE FINANCIAL STATEMENTS. PART III ACCOUNTING METHOD: 0 0 0 0 0 0 0 0 0 ANDREW STERN BOARD DIRECTOR, CEO OF GDI 0 0 0 190624 0 0 0 10274 0 22327 0 223225 0 0 BRIAN MILDER FOUNDER, CEO 0 0 0 206530 0 0 0 12477 0 2423 0 221430 0 0 ELIZABETH VANDERWOUDE CFO/TREASURER 0 0 0 166600 0 0 0 10116 0 2423 0 179139 0 0 FORM 990, PART VI, SECTION B, LINE 11B ACELI HIRES AN INDEPENDENT CPA FIRM TO PREPARE THE FEDERAL FORM 990. AFTER PREPARATION OF THE FEDERAL FORM 990, MANAGEMENT REVIEWS THE DRAFT FEDERAL FORM 990. ONCE ANY QUESTIONS OR CORRECTIONS ARE ADDRESSED, THE DRAFT FEDERAL FORM 990 IS THEN DISTRIBUTED TO THE FULL BOARD OF DIRECTORS PRIOR TO ELECTRONICALLY FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C A "CONFLICT OF INTEREST," ARISES WHEN A PERSON IN A POSITION OF AUTHORITY OVER AN ORGANIZATION, SUCH AS AN OFFICER, DIRECTOR, OR KEY EMPLOYEE, MAY BENEFIT. EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY AND HAS AGREED TO COMPLY WITH THE POLICY. IN THE EVENT A CONFLICT OF INTEREST EXISTS, AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THEN, THE CHAIR OF THE BOARD OF DIRECTORS OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OF DIRECTORS OR COMMITTEE SHALL DETERMINE WHETHER ACELI CAN OBTAIN WITH REASONABLE EFFORTS, A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 TO DETERMINE THE COMPENSATION OF THE CEO OR EXECUTIVE DIRECTOR, ACELI USES THE FOLLOWING METHODS: A) COMPENSATION SURVEY OR STUDY B) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 ACELI MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS: PROGRAM SERVICE EXPENSES 2,547,290. MANAGEMENT AND GENERAL EXPENSES 179,005. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,726,295. OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 356,886. MANAGEMENT AND GENERAL EXPENSES 26,522. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 383,408. CONTRACTORS: PROGRAM SERVICE EXPENSES 312,782. MANAGEMENT AND GENERAL EXPENSES 20,537. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 333,319. THE GLOBAL DEVELOPMENT INCUBATOR INC 1401 K STREET NW WASHINGTON DC 20005 141945286 DESIGN AND LAUNCH SERVICES FOR NEW SOCIAL IMPACT ORGANIZATIONS AND PARTNERS NY 501(C)(3) LINE 7 N/A 0 GDI SOLUTIONS INC 1401 K STREET NW SUITE 900 WASHINGTON DC 20005 881343562 FACILITATE GRANT FUNDING OPPORTUNITIES DE 501(C)(3) LINE 7 THE GLOBAL DEVELOPMENT INCUBATOR INC 0 ISF ADVISORS INC 1401 K STREET NW SUITE 900 WASHINGTON DC 20005 871088927 SUSTAINABLE TRANSFORMATION OF FOOD SYSTEMS AND AGRICULTURAL SUPPLY DC 501(C)(3) LINE 7 THE GLOBAL DEVELOPMENT INCUBATOR INC 0 COLIBRI CATALYST INC 1007 GENERAL KENNEDY AVENUE SUITE 2 SAN FRANCISCO CA 94129 920740048 ACCELERATES AND INCREASES THE FLOW OF CAPITAL TO REGENERATIVE AGRICULTURE DE 501(C)(3) LINE 7 THE GLOBAL DEVELOPMENT INCUBATOR INC 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0