2024-10-25T13:05:37-05:00 2024-06-30 420714325 RSM US LLP 4622 PENNSYLVANIA AVE STE 1100 KANSAS CITY MO 64112 990 2023-07-01 710699939 HEIFER INTERNATIONAL FOUNDATION HEIF 5019074900 PO BOX 727 LITTLE ROCK AR 72203 KATHERINE ST AMOUR TREASURER 5019074900 2024-10-23 1 0 KEVIN ENSMINGER P01310558 8167533000 2024-10-23 2023 2024-10-15 13:58:12Z HEIFER FOUNDATION DEBRA MCCULLOUGH PO BOX 727 LITTLE ROCK AR 72203 68223883 0 X HEIFERFOUNDATION.ORG X 1991 AR FOUNDATION'S MISSION IS TO RAISE AND OVERSEE ASSETS TO SUPPORT THE WORK OF HEIFER INTERNATIONAL. 9 9 13 10 0 0 5779245 2215660 0 0 3237033 8004470 0 0 9016278 10220130 7614563 5174444 0 0 1145936 1915241 0 0 0 1857690 2388908 10618189 9478593 -1601911 741537 206013402 216032024 19543191 20088414 186470211 195943610 TO RAISE AND OVERSEE FINANCIAL ASSETS TO SUPPORT THE WORK OF HEIFER INTERNATIONAL. 0 0 5174444 5174444 ATTRIBUTED EARNINGS PAID TO HEIFER PROJECT INTERNATIONAL FOR SPECIFIC PURPOSES AS DESIGNATED BY DONOR RESTRICTIONS, ARTICLES OF INCORPORATION, AND/OR BYLAWS OF HEIFER INTERNATIONAL FOUNDATION. HEIFER PROJECT INTERNATIONAL IS A SEPARATE IRC SECTION 501(C)(3) PUBLIC CHARITY. HEIFER PROJECT INTERNATIONAL'S MISSION IS TO WORK WITH COMMUNITIES TO END WORLD HUNGER AND POVERTY AND TO CARE FOR THE EARTH. 301253 AMOUNTS SPENT TO EDUCATE INDIVIDUALS ON HOW PLANNED CHARITABLE GIVING SUPPORTS THE WORK OF HEIFER PROJECT INTERNATIONAL AND OTHER 501(C)(3) ORGANIZATIONS. A TOTAL OF 360,244 PEOPLE WERE EDUCATED BY HEIFER INTERNATIONAL FOUNDATION THIS FISCAL YEAR. 5475697 1 1 0 0 0 1 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 925 0 13 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MS MN NC ND NJ NH NM NY OK OR PA RI SC TN UT VA WA WV X X DEBRA MCCULLOUGH ACTING PRESIDENT 5019074900 1 WORLD AVENUE LITTLE ROCK AR 72203 MARTHA BRANTLEY CHAIR 1.00 X X 0 0 0 SARAH ALEXANDER VICE CHAIR 1.00 X X 0 0 0 ELIZABETH BAWDEN SECRETARY 1.00 X X 0 0 0 STEPHANIE BUCKLEY TRUSTEE 1.00 X 0 0 0 STEPHEN BUTLER TRUSTEE 1.00 X 0 0 0 TERESA DUNBAR TRUSTEE 1.00 X 0 0 0 SUSAN GRANT TRUSTEE 1.00 X 0 0 0 ELIZABETH WEINDRUCH TRUSTEE 1.00 X 0 0 0 ALEX TEE TRUSTEE 1.00 X 0 0 0 ARDYTH NEILL PRESIDENT (UNTIL JUNE 12, 2024) 41.00 X 242447 0 37292 DEBBIE MCCULLOUGH VP PLANNED GIVING, ACTING PRESIDENT 41.00 X 145258 0 28543 KATHERINE ST AMOUR VP OF INVESTMENTS AND FINANCE 41.00 X 86458 0 6814 AMY DIERINGER VICE PRESIDENT OF PEOPLE & CULTURE 40.00 X 75230 0 21353 549393 0 94002 2 0 1 0 GRAYSTONEMORGAN STANLEY 227 WEST MONROE STREET SUITE 3400 CHICAGO IL 60606 INVESTMENT MANAGER FEES 282158 1 70330 2145330 28534 2215660 3399524 3399524 62608699 58003753 4604946 4604946 4604946 10220130 0 0 8004470 4538302 4538302 636142 636142 991443 24484 966959 690658 16792 673866 38194 1135 37059 81701 2211 79490 113245 3760 109485 47064 337 46727 44190 44190 1582258 1582258 215772 105576 110196 1484 30 1454 155229 80050 75179 36193 4259 31934 126618 32623 93995 41308 26599 14709 5268 620 4648 60486 16 60470 MEMBERSHIPS & FEES 38238 1153 37085 PERSONNEL EXPENSES 13682 1741 11941 EQUIPMENT 12994 377 12617 OTHER EXPENSES 8124 -510 8634 9478593 5475697 4002896 0 3698403 1106734 1738755 2493430 409033 236427 140165 170230 43336 86367 137850 111998 0 25852 146968697 156034986 50401406 51337815 2613607 4540183 206013402 216032024 293070 1017099 19250121 19071315 19543191 20088414 X 40606427 39840221 145863784 156103389 186470211 195943610 206013402 216032024 X 741537 8730307 1555 X X 0 1 X 1 0 X 2985403 27064719 4868418 5779245 2215660 42913445 2985403 27064719 4868418 5779245 2215660 42913445 22224731 20688714 2476130 1992319 2656665 3152802 3399524 13677440 56590885 0.36560 0.36540 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6 0 19500 974790 1 1 179634705 3107076 14633968 5174444 2468431 470 189732404 176552218 5776365 6809908 7614563 1886926 2297 179634705 171553212 23157992 -11932457 4470635 1750116 5778 176552218 129067129 12791629 34244238 3521876 1022354 5554 171553212 126052685 3122151 3232681 1648899 1668548 22941 129067129 0.20975 0.68393 0.10632 0 0 137850 111998 25852 25852 ACCION FRONTIER 2405185 F ACCION VENTURE LAB 1006017 F AIP 17903632 F ALWIN LLC 58282 F BRIDGE WFAH 2686193 F HARBOURVEST PARTNERS 3190713 F INTERCONTINENTAL REIF 4996841 F JLL INCOME PROPERTY TRUST CL M-I 8507353 F KRR GLOBAL IMPACT 3627267 F LEGACY VENTURE VII LLC 3760690 F SOAR 1217571 F WATERCREDIT INVESTMENT FUND 3, LP 1180344 F ACCION VENTURE LAB II 797727 F 51337815 REFUNDABLE ADVANCES 4536526 SPLIT INTEREST OBLIGATION 14534789 19071315 X 17369734 8730307 1555 8731862 8637872 1582258 1582258 10220130 7896335 0 7896335 1582258 1582258 9478593 PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO SUPPORT THE EFFORTS OF HEIFER PROJECT INTERNATIONAL AS STIPULATED BY DONOR RESTRICTIONS, ARTICLES OF INCORPORATION AND BYLAWS OF HEIFER INTERNATIONAL FOUNDATION. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. UNCERTAIN TAX POSITIONS, IF ANY, ARE RECORDED IN ACCORDANCE WITH ASC TOPIC 740, INCOME TAXES, WHICH REQUIRES THE RECOGNITION OF A LIABILITY FOR TAX POSITIONS TAKEN THAT DO NOT MEET THE MORE-LIKELY-THAN-NOT STANDARD THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. THERE IS NO LIABILITY FOR UNCERTAIN TAX POSITIONS RECORDED AT JUNE 30, 2024 OR 2023. FORMS 990 FILED BY THE FOUNDATION ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF EACH RETURN. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST OBLIGATIONS 1,555. 1 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 198690 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 35736 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 1274 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 63014 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 40614 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 75378 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 221436 0 0 0 0 0 0 636142 0 636142 CENTRAL AMERICA AND THE CARIBBEAN GENERAL SUPPORT 198690 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC GENERAL SUPPORT 35736 WIRE TRANSFER 0 NORTH AMERICA GENERAL SUPPORT 63014 WIRE TRANSFER 0 SOUTH AMERICA GENERAL SUPPORT 40614 WIRE TRANSFER 0 SOUTH ASIA GENERAL SUPPORT 75378 WIRE TRANSFER 0 SUB-SAHARAN AFRICA GENERAL SUPPORT 221436 WIRE TRANSFER 0 1 0 1 0 0 1 1 0 PART I, LINE 2: HEIFER INTERNATIONAL FOUNDATION, BASED ON BOARD GOVERNANCE, RECEIVES THE FOLLOWING REPORTS ANNUALLY FROM ALL ORGANIZATIONS RECEIVING GRANTS FROM ENDOWMENT FUNDS: IRS FORM 990 ANNUAL REPORT EXECUTIVE SUMMARY QUESTIONNAIRE AUDITED FINANCIAL STATEMENTS THESE DOCUMENTS ARE REVIEWED BY PRESIDENT & VP OF ASSET MANAGEMENT TO ENSURE THAT FUNDS WERE USED FOR THE PURPOSE AS STATED IN THE GRANT APPLICATION, AS WELL AS DONOR RESTRICTIONS. THIS REVIEW ALSO ENSURES THE ORGANIZATION IS A CURRENT TAX-EXEMPT ORGANIZATION AS RECOGNIZED BY THE IRS. THE EXECUTIVE SUMMARY QUESTIONNAIRE IS SIGNED BY THE CEO OF THE RECEIVING ORGANIZATION ATTESTING TO THE FACT THAT THE GRANTS RECEIVED WERE USED FOR THE ORGANIZATIONS CHARITABLE PURPOSE, AS STIPULATED BY THE DONOR AND THAT THE ORGANIZATION UPHOLDS THE DONOR BILL OF RIGHTS. THIS INFORMATION IS DISTRIBUTED ANNUALLY TO THE BOARD OF TRUSTEES OF HEIFER INTERNATIONAL FOUNDATION FOR THEIR REVIEW AND IS A PART OF THE INDEPENDENT AUDITORS REVIEW AND THE AUDIT OF THE MONITORING REPORTS OF THE BOARD GOVERNANCE. SCH F, PART II, LINE 1: ALL FOREIGN GRANTS LISTED WERE PAID TO HEIFER PROJECT INTERNATIONAL, A SEPARATE U.S. IRC SEC. 501(C)(3) ORGANIZATION. THE AMOUNTS SHOWN REPRESENT GRANTS DESIGNATED TO SUPPORT HEIFER PROJECT INTERNATIONAL'S PROGRAMS IN THE SPECIFIED REGIONS OUTSIDE THE U.S. HEIFER PROJECT INTERNATIONAL'S MISSION IS TO WORK WITH COMMUNITIES TO END WORLD HUNGER AND POVERTY AND TO CARE FOR THE EARTH. 1 HEIFER PROJECT INTERNATIONAL 1 WORLD AVENUE LITTLE ROCK AR 72202 351019477 501(C)(3) 4538302 0 ONGOING SUPPORT BASED ON DONOR RESTRICTIONS, ARTICLES OF INCORPORATION, AND BYLAWS OF HEIFER INTERNATIONAL FOUNDATION, BASED ON BOARD GOVERNANCE. HEIFER PROJECT INTERNATIONAL'S MISSION IS TO WORK WITH COMMUNITIES TO END WORLD HUNGER AND POVERTY AND TO CARE FOR THE EARTH. 1 0 PART I, LINE 2: HEIFER INTERNATIONAL FOUNDATION, BASED ON BOARD GOVERNANCE, RECEIVES THE FOLLOWING REPORTS ANNUALLY FROM ALL ORGANIZATIONS RECEIVING GRANTS FROM ENDOWMENT FUNDS: IRS FORM 990 ANNUAL REPORT EXECUTIVE SUMMARY QUESTIONNAIRE AUDITED FINANCIAL STATEMENTS THESE DOCUMENTS ARE REVIEWED BY THE PRESIDENT & VP OF INVESTMENTS AND FINANCE TO ENSURE THAT FUNDS WERE USED FOR THE PURPOSE AS STATED IN THE GRANT APPLICATION, AS WELL AS DONOR RESTRICTIONS. THIS REVIEW ALSO ENSURES THE ORGANIZATION IS A CURRENT TAX-EXEMPT ORGANIZATION AS RECOGNIZED BY THE IRS. THE EXECUTIVE SUMMARY QUESTIONNAIRE IS SIGNED BY THE CEO OF THE RECEIVING ORGANIZATION ATTESTING TO THE FACT THAT THE GRANTS RECEIVED WERE USED FOR THE ORGANIZATIONS CHARITABLE PURPOSE, AS STIPULATED BY THE DONOR AND THAT THE ORGANIZATION UPHOLDS THE DONOR BILL OF RIGHTS. THIS INFORMATION IS DISTRIBUTED ANNUALLY TO THE BOARD OF TRUSTEES OF HEIFER INTERNATIONAL FOUNDATION FOR THEIR REVIEW AND IS A PART OF THE INDEPENDENT AUDITORS REVIEW AND THE AUDIT OF THE MONITORING REPORTS OF THE BOARD GOVERNANCE. X X X X 0 0 0 0 0 0 0 1 0 ARDYTH NEILL PRESIDENT (UNTIL JUNE 12, 2024) 242249 0 0 0 198 0 17409 0 19883 0 279739 0 0 0 DEBBIE MCCULLOUGH VP PLANNED GIVING, ACTING PRESIDENT 144877 0 0 0 381 0 10480 0 18063 0 173801 0 0 0 PART I, LINE 3 HEIFER INTERNATIONAL FOUNDATION SEEKS TO PROVIDE A REASONABLE AND COMPETITIVE EXECUTIVE TOTAL COMPENSATION OPPORTUNITY CONSISTENT WITH MARKET-BASED COMPENSATION PRACTICES FOR INDIVIDUALS POSSESSING THE EXPERIENCE AND SKILLS NEEDED TO IMPROVE THE OVERALL PERFORMANCE OF HEIFER INTERNATIONAL FOUNDATION AND ACCOMPLISH ITS EXEMPT PURPOSE AND MISSION. THE BOARD OF DIRECTORS OF HEIFER INTERNATIONAL FOUNDATION REVIEWS COMPENSATIONS STUDIES AND OTHER PUBLIC NONPROFIT DATA FOR CEO COMPENSATION. PART I, LINE 7 A BONUS OF $10K EACH WAS PAID TO THE VP OF INVESTMENTS AND FINANCE AND THE VP OF PEOPLE AND CULTURE THAT WAS APPROVED BY THE ACTING PRESIDENT AND DISCUSSED WITH THE BOARD. THE AMOUNT WAS COMMENSURATE WITH THE ADDITIONAL DUTIES TAKEN ON TEMPORARILY DURING THE FOUNDATION'S TRANSITION IN LEADERSHIP. X 5 28534 FMV 0 0 1 0 PART I, COLUMN (B): REPORTING THE NUMBER OF ITEMS RECEIVED FORM 990, PART VI, SECTION A, LINE 7A THE FILING ORGANIZATION'S MISSION IS TO RAISE AND OVERSEE FINANCIAL ASSETS TO SUPPORT THE WORK OF HEIFER INTERNATIONAL, A SEPARATE IRC SECTION 501(C)(3) PUBLIC CHARITY. THE FILING ORGANIZATION'S BOARD OF TRUSTEES CONSISTS OF 9 MEMBERS. THE BYLAWS CURRENTLY PROVIDE AN OVERLAPPING BOARD STRUCTURE WITH HEIFER PROJECT INTERNATIONAL'S CHAIR OR MEMBER OF THE EXECUTIVE COMMITTEE SERVING ON THE HEIFER INTERNATIONAL FOUNDATION BOARD AND ALLOWING HEIFER PROJECT INTERNATIONAL BOARD TO SELECT A NON-VOTING LIAISON TO THE HEIFER INTERNATIONAL FOUNDATION BOARD. THE REMAINING 8 MEMBERS ARE SELECTED BY THE FILING ORGANIZATION'S BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B HEIFER INTERNATIONAL FOUNDATION DISTRIBUTES A DRAFT COPY OF THE FORM 990 TO A COMMITTEE OF TRUSTEES FOR REVIEW PRIOR TO FILING. AFTER REVIEW BY THE COMMITTEE, THE FORM 990 IS THEN DISTRIBUTED TO THE FULL BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C HEIFER INTERNATIONAL FOUNDATION'S BOARD OF TRUSTEES OPERATES WITHIN A POLICY GOVERNANCE MODEL WITH EFFECTIVE WRITTEN GOVERNANCE AND MONITORING SYSTEMS IN PLACE REGARDING THE BOARD OF TRUSTEE'S CODE OF CONDUCT, WHICH INCLUDES SPECIFIC CONFLICT OF INTEREST STATEMENTS. EACH MEMBER OF THE BOARD OF TRUSTEES IS REQUIRED TO COMPLETE, SIGN AND SUBMIT A CODE OF CONDUCT FORM ANNUALLY IN WHICH THEY INDICATE COMPLIANCE WITH SPECIFIC CONFLICT OF INTEREST STATEMENTS. THESE FORMS ARE SUBMITTED TO THE BOARD LIAISON, AT THE ANNUAL MEETING OF THE BOARD OF TRUSTEES AND ISSUES OF NON-COMPLIANCE ARE REPORTED TO THE BOARD CHAIR. IN ADDITION, A REPORT TO THE FULL BOARD IS INCLUDED IN THE MONITORING REPORTS REGARDING COMPLIANCE BY INDIVIDUAL TRUSTEES AND THE BOARD AS A WHOLE. MATTERS OF CONCERN REGARDING AN INDIVIDUAL'S NON-COMPLIANCE AND/OR CONFLICT OF INTEREST ARE ADDRESSED BY THE BOARD CHAIR AND BROUGHT BEFORE THE FULL BOARD WHEN APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 HEIFER INTERNATIONAL FOUNDATION USES AN INDEPENDENT CONSULTING SERVICE FOR THE REVIEW OF THE FOUNDATION'S SALARY PROCESS. PEARL MEYER WAS USED FOR FY24. PEARL MEYER EVALUATES EACH POSITION, INCLUDING THE PRESIDENT, BASED ON THE SPECIFIC JOB FUNCTIONS AND GEOGRAPHIC CONSIDERATIONS. A MARKET ANALYSIS IS CONDUCTED USING DATA FROM A SAMPLE OF OTHER SIMILAR ROLES AND ORGANIZATIONS. COMPENSATION RANGES ARE THEN ESTABLISHED BY POSITION WITH A MINIMUM, A MID, AND A MAXIMUM COMPENSATION LEVEL. THE TARGET OF THE RANGE IS BASED ON THE MEDIAN SALARY FOR EQUIVALENT JOB DESCRIPTIONS IN THE MARKET AND FACTORS IN THE EMPLOYEE'S SKILL LEVEL AND HISTORY WITH THE ORGANIZATION. THE BOARD CONDUCTS AN ANNUAL REVIEW OF THE PRESIDENT'S PERFORMANCE OVER THE PRIOR YEAR. BASED ON THE PERFORMANCE AND THE SALARY RECOMMENDATIONS OBTAINED FROM PEARL MEYER, THE BOARD THEN DETERMINES WHAT THE SALARY OF THE PRESIDENT SHOULD BE FOR THE NEXT YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE ANNUAL REPORT IS AVAILABLE AT WWW.HEIFERFOUNDATION.ORG STARTING WITH YEAR 2018. IRS FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE AT WWW.HEIFERFOUNDATION.ORG STARTING WITH YEAR 2013. IRS FORM 990, ANNUAL REPORT, AUDITED FINANCIAL STATEMENTS AND OTHER GOVERNANCE INFORMATION IS AVAILABLE UPON REQUEST EITHER IN PERSON, PER PHONE CALL TO 888-422-1161, EMAIL REQUEST AT INFO@HEIFERFOUNDATION.ORG, OR BY WRITTEN REQUEST. FORM 990, PART VI LINES 1A AND 1B, BOARD COUNT: DURING THE FISCAL YEAR, THERE WERE TEN VOTING BOARD MEMBERS. ALL VOTING BOARD MEMBERS SERVING THE ORGANIZATION ARE LISTED IN FORM 990, PART VII. AT THE END THE OF FISCAL YEAR, THERE WERE ONLY NINE VOTING BOARD MEMBERS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST OBLIGATIONS 1,555. FORM 990, PART XII, LINE 2C: HEIFER INTERNATIONAL FOUNDATION HAS MAINTAINED THE SAME PROCESSES FROM PREVIOUS YEARS IN RELATION TO THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS BY AN INDEPENDENT ACCOUNTANT. CHARITABLE REMAINDER TRUSTS (41) INVESTMENT AR N/A 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CHARITABLE REMAINDER TRUST C 70330 PV OF FUTURE INTEREST