2024-10-25T08:37:33-05:00 2023-12-31 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 800N BETHESDA MD 208142930 990 2023-07-12 932593106 ESSENTIAL IMPACT INC ESSE 2027395284 255 EUREKA ST SAN FRANCISCO CA 94114 GRANT GORDON CEO 2027395284 2024-10-25 1 0 RICHARD J LOCASTRO CPA P00288314 3019519090 2023 2024-10-15 13:58:12Z X GRANT GORDON 255 EUREKA ST SAN FRANCISCO CA 94114 2747661 0 X WWW.ESSENTIALIMPACT.ORG X 2023 DE SEE PART III, LINE 1 3 1 2 1 0 0 2747656 0 0 5 2747661 0 0 73776 0 4592 97709 171485 2576176 2669235 93059 2576176 X ESSENTIAL IMPACT CREATES BREAKTHROUGH SOLUTIONS TO TACKLE MALNUTRITION AND TRANSFORM FOOD SYSTEMS IN SUB-SAHARAN AFRICA. WE LEVERAGE ADVANCES IN FERMENTATION TO CREATE AFFORDABLE, ACCESSIBLE, AND CLIMATE-RESILIENT PROTEINS THAT CAN BE INTEGRATED INTO FOOD PRODUCTS TO PREVENT AND TREAT MALNUTRITION. 0 0 127033 ESSENTIAL IMPACT IS LEVERAGING ADVANCES IN FERMENTATION TO CREATE LOW-COST, HIGH-QUALITY, CLIMATE-RESILIENT PROTEINS THAT WE CAN INTEGRATE INTO PRODUCTS TO PREVENT AND TREAT MALNUTRITION IN SUB-SAHARAN AFTICA. 2023 WAS THE YEAR IN WHICH WE TURNED STRATEGY INTO EXECUTION: WE CREATED HIGH-QUALITY PROTEINS AND DESIGNED NEW-LOW COST BIOMANUFACTURING PROCESSES; GENERATED STRONG SIGNALS OF DEMAND FOR OUR PROTEINS IN COMMERCIAL AND INSTITUTIONAL MARKETS; BUILT AN INCREDIBLE TEAM; EXPANDED OUR PARTNERSHIPS AND FUNDING; STARTED MAKING POLICY CHANGE; AN DBEGAN BUILDING A PILOT PLANT IN NAIROBI. 127033 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 3 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X GRANT GORDON 2027395284 255 EUREKA ST SAN FRANCISCO CA 94114 GRANT GORDON PRESIDENT, TREASURER, CEO 40.00 X X 20417 0 0 FIREHIWOT TACHEA VP, SECRETARY, CTO 40.00 X X 29583 0 0 KAREN LEVY BOARD MEMBER 2.00 X 0 0 0 50000 0 0 0 0 0 0 0 2747656 2747656 MISCELLANEOUS REVENUE 900999 5 5 5 2747661 0 0 5 X 50001 40917 6021 3063 18332 14912 2230 1190 5443 4447 657 339 9453 9453 13470 13470 62215 58725 3490 63 63 214 214 2872 2872 3094 3094 4938 4938 107 107 1283 1283 171485 127033 39860 4592 1672206 600000 11143 317978 107 0 317871 0 68015 0 2669235 28511 0 64548 0 93059 X 1976176 600000 0 2576176 0 2669235 2576176 0 X 0 1 X 1 0 X 2147656 2147656 2147656 2147656 1584797 562859 5 5 2147661 X FORM 990, SCHEDULE A, PART II THE ORGANIZATION INCORPORATED IN JULY 2023, THUS RESULTING IN A SHORT YEAR FOR THE 2023 RETURN. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1410 107 1303 316568 316568 317871 OPERATING LEASE LIABILITY 64548 64548 2747661 0 2747661 0 2747661 171485 0 171485 0 171485 SUB-SAHARAN AFRICA 1 5 PROGRAM SERVICES INDEPENDENT CONTRACTORS WERE ENGAGED TO HELP SET UP PILOT PLANT AND OPERATIONS AS WELL AS PROCESS THE DEVELOPMENT AND SCALE-UP OF FOOD FERMENTATION 27272 1 5 0 0 1 5 27272 0 27272 0 0 1 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND IS THEN REVIEWED BY MANAGEMENT. THE FORM 990 IS SENT TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING THE RETURN. 1. PREPARATION: THE EXTERNAL ACCOUNTNG FIRM, WITH THE ASSISTANCE OF THE ORGANIZATON'S FINANCE TEAM, PREPARES A DRAFT OF FORM 990, INCLUDING RELATED SCHEDULES. 2. INTERNAL REVIEW: MANAGEMENT REVIEWS THE DRAFT FOR ACCURACY AND COMPLETENESS. 3. DISTRIBUTION: A COMPLETE DRAFT FORM 990, INCLUDING RELATED SCHEDULES, IS EMAILED TO THE BOARD OF DIRECTORS AT LEAST A MONTH BEFORE THE FILING DEADLINE. 4. BOARD REVIEW: THE BOARD MEMBERS REVIEW AND PROVIDE FEEDBACK OR REQUEST CHANGES. 5. REVISIONS: THE FINANCE TEAM/EXTERNAL ACCOUNTING FIRM REVISES THE DRAFT BASED ON BOARD FEEDBACK. 6. FINAL APPROVAL: THE REVISED FORM 990 IS SENT TO THE BOARD FOR FINAL APPROVAL. APPROVAL IS DOCUMENTED IN THE BOARD MEETING MINUTES. 7. FILING: THE FINAL FORM 990 IS FILED WITH THE IRS ONCE APPROVED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REVIEWS AND ASSESSES ITS IMPLEMENTATION OF CONTROLS AND POLICIES PERIODICALLY THROUGHOUT THE YEAR DURING QUARTERLY BOARD MEETINGS. A. AN INTERESTED PERSON SHALL DISCLOSE TO THE GOVERNING BOARD OR COMMITTEE, AND MAY MAKE A PRESENTATION AT A GOVERNING BOARD OR COMMITTEE MEETING IN RESPECT OF, THE APPLICABLE FINANCIAL INTEREST AND ALL RELEVANT MATERIAL FACTS. AFTER ANY SUCH 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. B. THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. C. AFTER EXERCISING DUE DILIGENCE THAT IT DETERMINES TO BE REASONABLE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN, WITH REASONABLE EFFORTS, A SUBSTANTIALLY SIMILAR OR MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF THE GOVERNING BOARD OR COMMITTEE DETERMINES THAT A SUBSTANTIALLY SIMILAR OR MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THEN THE GOVERNING BOARD OR COMMITTEE SHALL NOT PERMIT THE ORGANIZATION TO ENTER INTO THE ARRANGEMENT OR TRANSACTION GIVING RISE TO THE POTENTIAL CONFLICT OF INTEREST. D. IF A SUBSTANTIALLY SIMILAR OR MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THEN THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE BEST INTEREST OF THE ORGANIZATION, FOR ITS OWN BENEFIT, AND WHETHER SUCH TRANSACTION OR ARRANGEMENT IS FAIR AND REASONABLE TO THE ORGANIZATION. IF THE GOVERNING BOARD OR COMMITTEE DETERMINES THAT SUCH TRANSACTION OR ARRANGEMENT IS IN THE BEST INTEREST OF THE ORGANIZATION, FOR ITS OWN BENEFIT, AND IS FAIR AND REASONABLE TO THE ORGANIZATION, THEN THE GOVERNING BOARD OR COMMITTEE MAY DETERMINE TO CAUSE THE ORGANIZATION TO CONSUMMATE SUCH TRANSACTION OR ARRANGEMENT. IF THE GOVERNING BOARD OR COMMITTEE DETERMINES THAT SUCH TRANSACTION OR ARRANGEMENT IS NOT IN THE BEST INTEREST OF THE ORGANIZATION, FOR ITS OWN BENEFIT, OR IS NOT FAIR OR REASONABLE TO THE ORGANIZATION, THEN THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE TO CAUSE THE ORGANIZATION NOT TO CONSUMMATE SUCH TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO AND CTO IS REVIEWED AND APPROVED BY BOARD MEMBERS WHO DO NOT HAVE ANY CONFLICTS OF INTEREST. THE CEO AND CTO WILL NOT PARTICIPATE IN DISCUSSIONS OR DECISIONS ABOUT THEIR OWN COMPENSATION. ANY POTENTIAL CONFLICTS MUST BE DISCLOSED UPFRONT TO ENSURE AN IMPARTIAL DECISION-MAKING PROCESS. THE BOARD COMPARES COMPENSATION DATA FROM SIMILAR NONPROFITS IN TERMS OF MISSION, SIZE AND LOCATION TO DETERMINE A FAIR COMPENSATION FOR THE CEO AND CTO. PUBLICLY AVAILABLE SALARY DATA AND SURVEYS OF COMPARABLE ORGANIZATIONS ARE USED TO GATHER THIS INFORMATION. ALL DISCUSSIONS AND DECISIONS RELATED TO THE COMPENSATION OF THE CEO AND CTO ARE RECORDED IN THE MEETING MINUTES. THESE DOCUMENTS ARE KEPT ON FILE FOR REFERENCE BASED ON THE ORGANIZATION'S DOCUMENT RETENTION POLICY. THE DATE OF THE LAST COMPENSATION REVIEW WAS OCTOBER 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G STRATEGIC SUPPORT: PROGRAM SERVICE EXPENSES 42,031. MANAGEMENT AND GENERAL EXPENSES 1,820. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 43,851. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 16,694. MANAGEMENT AND GENERAL EXPENSES 1,670. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,364. ESSENTIAL IMPACT LIMITED WAIYAKI WAY CHIROMO NAIROBI KE MANUFACTURE OF FERMENTED PROTEINS KE ESSENTIAL IMPACT C 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ESSENTIAL IMPACT LIMITED D 11290 ACTUAL COST