2025-11-02T10:12:29-06:00 2025-06-30 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2024-07-01 710699939 HEIFER INTERNATIONAL FOUNDATION HEIF 5019074900 PO BOX 727 LITTLE ROCK AR 72203 KATHERINE ST AMOUR TREASURER 5019074900 2025-10-23 1 1 JENIFER L CHASE P01306883 5638884000 2025-10-23 2024 2025-03-06 01:10:19Z HEIFER FOUNDATION KIM DEMPSEY PO BOX 727 LITTLE ROCK AR 72203 94780695 0 X HEIFERFOUNDATION.ORG X 1991 AR HEIFER INTERNATIONAL FOUNDATION'S MISSION IS TO RAISE AND OVERSEE FINANCIAL ASSETS TO SUPPORT THE WORK OF HEIFER PROJECT INTERNATIONAL. 8 8 15 10 0 0 2215660 2909779 0 0 8004470 9340051 0 0 10220130 12249830 5174444 5169531 0 0 1915241 1928527 0 0 0 2388908 2315566 9478593 9413624 741537 2836206 216032024 226175769 20088414 21872482 195943610 204303287 TO RAISE AND OVERSEE FINANCIAL ASSETS TO SUPPORT THE WORK OF HEIFER PROJECT INTERNATIONAL. 0 0 5169531 5169531 HEIFER INTERNATIONAL FOUNDATION'S (FOUNDATION) MISSION IS TO RAISE AND OVERSEE FINANCIAL ASSETS TO SUPPORT THE MISSION OF HEIFER PROJECT INTERNATIONAL (HPI), AN UNRELATED 501(C)(3) PUBLIC CHARITY. HPI'S MISSION INCLUDES SUPPORTING DOMESTIC AND OVERSEAS COMMUNITIES TO END WORLD HUNGER AND POVERTY AND TO CARE FOR THE EARTH. THE FOUNDATION SUPPORTS HPI'S MISSION PRIMARILY THROUGH GRANTMAKING. DURING THE YEAR-ENDED JUNE 30, 2025, THE FOUNDATION MADE GRANTS TO HPI OF $4,531,771 AND TO HPI'S CONTROLLED FOREIGN ORGANIZATIONS OF $637,760. 237524 HEIFER INTERNATIONAL FOUNDATION (FOUNDATION) EDUCATES INDIVIDUAL DONORS ABOUT HOW PLANNED CHARITABLE GIVING SUPPORTS BOTH HEIFER PROJECT INTERNATIONAL'S MISSION AS WELL AS THE MISSION OF OTHER 501(C)(3) ORGANIZATIONS. IN THE FISCAL YEAR-ENDED JUNE 30, 2025, THE FOUNDATION EDUCATED 590,694 INDIVIDUALS. 5407055 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 1 913 0 15 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 1 0 0 1 0 1 1 0 0 1 1 0 1 1 1 1 0 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 KIM DEMPSEY PRESIDENT AND CEO 8339044483 1 WORLD AVENUE LITTLE ROCK AR 72203 ELIZABETH BAWDEN CHAIR 1.00 X X 0 0 0 SARAH ALEXANDER VICE CHAIR 1.00 X X 0 0 0 STEPHANIE BUCKLEY SECRETARY 1.00 X X 0 0 0 MARTHA BRANTLEY TRUSTEE (UNTIL 12/24) 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 (UNTIL 2/25) 1.00 X 0 0 0 RANDI HEDIN TRUSTEE (STARTING 2/25) 1.00 X 0 0 0 ALEX TEE TRUSTEE 1.00 X 0 0 0 ELIZABETH WEINDRUCH TRUSTEE 1.00 X 0 0 0 KIM DEMPSEY PRESIDENT AND CEO (STARTING 1/25) 41.00 X 0 0 0 DEBBIE MCCULLOUGH VP PLANNED GIVING 43.00 X 192549 0 32045 KATHERINE ST AMOUR VP OF INVEST & FINANCE, TREASURER 43.00 X 177953 0 14376 AMY DIERINGER VICE PRESIDENT OF PEOPLE & CULTURE 41.00 X 116992 0 24680 SOMERSET SEA DIRECTOR OF FINANCE 40.00 X 126909 0 28739 ARDYTH NEILL FORMER PRESIDENT 41.00 X 233982 0 18264 848385 0 118104 5 1 1 0 GRAYSTONEMORGAN STANLEY 227 WEST MONROE STREET SUITE 3400 CHICAGO IL 60606 INVESTMENT MANAGER FEES 283706 1 117899 2791880 798350 2909779 2551278 2551278 89319638 82530865 6788773 6788773 6788773 12249830 0 0 9340051 4531771 4531771 637760 637760 704874 36785 668089 937734 49427 888307 58771 2972 55799 121766 6799 114967 105382 4604 100778 47754 47754 50136 50136 1393060 1393060 154009 154009 1502 45 1457 243479 44570 198909 50216 4239 45977 182116 39763 142353 46839 43319 3520 7086 598 6488 50177 50177 PERSONNEL EXPENSES 33503 1989 31514 MEMBERSHIPS & FEES 30866 1752 29114 OTHER EXPENSES 17071 -238 17309 EQUIPMENT 7752 900 6852 9413624 5407055 4006569 0 1106734 2921796 2493430 2406708 236427 877835 170230 184366 86367 32920 137850 119084 25852 18766 156034986 158033050 51337815 58026473 4540183 3673855 216032024 226175769 1017099 1570352 19071315 20302130 20088414 21872482 X 39840221 43717483 156103389 160585804 195943610 204303287 216032024 226175769 X 2836206 5826586 -303115 X X 0 1 X 1 0 X 27064719 4868418 5779245 2215660 2909779 42837821 27064719 4868418 5779245 2215660 2909779 42837821 22189948 20647873 1992319 2656665 3152802 3399524 2551278 13752588 56590409 0.36490 0.36560 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6 0 20500 1079560 1 1 189732404 3515412 13136509 5169531 2844646 39 198370109 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 0.20994 0.63475 0.15531 0 0 137850 119084 18766 18766 ACCION FRONTIER INCLUSION FUND, LP 1778278 F ACCION VENTURE LAB, LP 890622 F HIF I CAYMAN LP 26333181 F ALWIN LLC 7540 F BRIDGE WFAH 2864463 F HARBOURVEST PARTNERS FUND IX LP 2117645 F INTERCONTINENTAL US REIF, LLC 3573953 F JLL INCOME PROPERTY TRUST CL M-I 5691530 F KKR GLOBAL IMPACT FUND SCSP 3577834 F LEGACY VENTURE VII LLC 3420751 F SOUTHERN OPPORTUNITY AND RESILIENCE FUND LLC 148118 F WATERCREDIT INVESTMENT FUND 3, LP 1165556 F ACCION VENTURE LAB II 957002 F JPMORGAN INFRASTRUCTURE 5500000 F 58026473 REFUNDABLE ADVANCES 5011983 ANNUITIES PAYABLE 3593090 TRUSTS PAYABLE 11070088 LEASE LIABILITIES 626969 20302130 X 16380241 5826586 -303115 5523471 10856770 1393060 1393060 12249830 8020564 0 8020564 1393060 1393060 9413624 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: HEIFER INTERNATIONAL 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 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, 2025 OR 2024. 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 -303,115. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 209469 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 31477 NORTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 62975 SOUTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 40693 SOUTH ASIA 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 74966 SUB-SAHARAN AFRICA 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 218180 0 0 0 0 0 0 637760 0 637760 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, GENERAL SUPPORT 209469 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, GENERAL SUPPORT 31477 WIRE TRANSFER 0 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES GENERAL SUPPORT 62975 WIRE TRANSFER 0 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, GENERAL SUPPORT 40693 WIRE TRANSFER 0 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, GENERAL SUPPORT 74966 WIRE TRANSFER 0 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, GENERAL SUPPORT 218180 WIRE TRANSFER 0 1 0 1 0 1 1 1 0 PART I, LINE 2: ALL FOREIGN GRANTS DISCLOSED WERE PAID TO EITHER BRANCHES OF OR SEPARATE LEGAL ENTITIES WHOLLY-OWNED BY HEIFER PROJECT INTERNATIONAL (HPI), AN UNRELATED 501(C)(3) PUBLIC CHARITY. THE GRANTS DISCLOSED REPRESENT GRANTS DESIGNATED BY DONORS TO SUPPORT HPI'S PROGRAMS IN SPECIFIED REGIONS OUTSIDE THE U.S. IN SUPPORT OF ITS MISSION TO WORK WITH COMMUNITIES TO END WORLD HUNGER AND POVERTY AND TO CARE FOR THE EARTH. HEIFER INTERNATIONAL FOUNDATION (FOUNDATION), BASED ON BOARD GOVERNANCE, RECEIVES THE FOLLOWING REPORTS ANNUALLY FROM HPI TO MONITOR THE USE OF GRANTS PROVIDED FROM DESIGNATED FUNDS: IRS FORM 990 ANNUAL REPORT EXECUTIVE SUMMARY QUESTIONNAIRE AUDITED FINANCIAL STATEMENTS THESE DOCUMENTS ARE REVIEWED BY THE PRESIDENT & CEO AND VP OF INVESTMENTS AND FINANCE OF THE FOUNDATION TO ENSURE THAT FUNDS WERE USED FOR THE PURPOSE AS STATED IN THE GRANT APPLICATION AND TO COMPLY WITH DONOR RESTRICTIONS. THIS REVIEW ALSO ENSURES HPI IS A CURRENT TAX-EXEMPT ORGANIZATION AS RECOGNIZED BY THE IRS. THE EXECUTIVE SUMMARY QUESTIONNAIRE IS SIGNED BY THE CEO OF HPI 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 THE FOUNDATION FOR THEIR REVIEW AND IS A PART OF THE INDEPENDENT AUDITORS REVIEW AND THE AUDIT OF THE MONITORING REPORTS OF THE BOARD GOVERNANCE. 1 HEIFER PROJECT INTERNATIONAL 1 WORLD AVENUE LITTLE ROCK AR 72202 351019477 501(C)(3) 4531771 0 GENERAL SUPPORT 1 0 PART I, LINE 2: HEIFER INTERNATIONAL FOUNDATION'S (FOUNDATION) MISSION IS TO RAISE AND OVERSEE FINANCIAL ASSETS TO SUPPORT THE MISSION OF HEIFER PROJECT INTERNATIONAL (HPI), AN UNRELATED 501(C)(3) PUBLIC CHARITY. HPI'S MISSION INCLUDES SUPPORTING DOMESTIC AND OVERSEAS COMMUNITIES TO END WORLD HUNGER AND POVERTY AND TO CARE FOR THE EARTH. THE FOUNDATION SUPPORTS HPI'S MISSION PRIMARILY THROUGH GRANTMAKING. THE GRANT FUNDS REPORTED ABOVE ARE FOR USE AT HPI'S DISCRETION. X X X 1 0 0 0 0 0 0 0 0 ARDYTH NEILL FORMER PRESIDENT 108283 0 0 0 125699 0 7815 0 10449 0 252246 0 0 0 DEBBIE MCCULLOUGH VP PLANNED GIVING 192168 0 0 0 381 0 13682 0 18363 0 224594 0 0 0 KATHERINE ST AMOUR VP OF INVEST & FINANCE, TREASURER 177923 0 0 0 30 0 12455 0 1921 0 192329 0 0 0 SOMERSET SEA DIRECTOR OF FINANCE 126879 0 0 0 30 0 9257 0 19482 0 155648 0 0 0 PART I, LINE 4A DURING CALENDAR YEAR 2024, ARDYTH NEILL RECEIVED A SEVERANCE PAYMENT OF $125,699. THIS PAYMENT WAS MADE IN CONSIDERATION FOR SERVICE TO HEIFER INTERNATIONAL FOUNDATION AS FORMER PRESIDENT AND STRATEGIC ADVISOR. THE SPECIFIC TERMS AND CONDITIONS OF THE SEVERANCE AGREEMENT ARE AVAILABLE UPON REQUEST. X 7 154400 FMV X HOUSE 1 643950 ESTIMATED PROCEEDS 0 0 1 1 PART I, COLUMN (B): REPORTING THE NUMBER OF ITEMS RECEIVED PART I, LINE 32B: HEIFER INTERNATIONAL FOUNDATION UTILIZES A GIFT ACCOUNT AT MORGAN STANLEY TO RECEIVE AND SUBSEQUENTLY LIQUIDATE GIFTS OF PUBLICLY TRADED SECURITIES. FORM 990, PART I, ITEM C DBA: HEIFER FOUNDATION FORM 990, PART VI, SECTION A, LINE 4 HIEFER INTERNATIONAL FOUNDATION'S (FOUNDATION) BYLAWS WERE AMENDED TO: 1) MODIFY THE COMPOSITION OF THE FOUNDATION'S BOARD OF TRUSTEES. ONE MEMBER OF THE BOARD OF TRUSTEES SHALL AUTOMATICALLY BE THE CHAIR OR A MEMBER OF THE EXECUTIVE COMMITTEE OF THE BOARD OF HEIFER PROJECT INTERNATIONAL (HPI TRUSTEE). PREVIOUSLY, THERE WERE TWO HPI TRUSTEES. 2) ADD AN INVESTMENT COMMITTEE, NOMINATING COMMITTEE, AUDIT COMMITTEE, AND GOVERNANCE COMMITTEE. 3) ADD CONFLICT OF INTEREST LANGUAGE SPECIFIC TO THE BOARD OF TRUSTEES. 4) ADD TREASURER AS AN OFFICER OF THE FOUNDATION. FORM 990, PART VI, SECTION A, LINE 7A HEIFER INTERNATIONAL FOUNDATION'S (FOUNDATION) MISSION IS TO RAISE AND OVERSEE FINANCIAL ASSETS TO SUPPORT THE WORK OF HEIFER PROJECT INTERNATIONAL (HPI), AN UNRELATED 501(C)(3) PUBLIC CHARITY. THE FOUNDATION'S BOARD OF TRUSTEES SHALL CONSIST OF 9 MEMBERS - ONE OF WHICH SHALL AUTOMATICALLY BE THE CHAIR OF HPI'S BOARD OF DIRECTORS OR MEMBER OF THEIR EXECUTIVE COMMITTEE. 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 15A HEIFER INTERNATIONAL FOUNDATION (FOUNDATION) USES AN INDEPENDENT COMPENSATION CONSULTANT FOR THE SALARY REVIEW PROCESS. THE INDEPENDENT COMPENSATION CONSULTANT EVALUATES EACH POSITION BASED ON THE SPECIFIC JOB FUNCTIONS. THE CONSULTANT CONDUCTS A MARKET ANALYSIS USING DATA FROM A SAMPLE OF OTHER SIMILAR ROLES AND ORGANIZATIONS. FROM THIS ANALYSIS, THE CONSULTANT ESTABLISHES COMPENSATION RANGES FOR EACH POSITION. THE FOUNDATION USES THESE COMPENSATION RANGES, COMBINED WITH FACTORS SUCH AS EMPLOYEE SKILL LEVEL AND HISTORY WITH THE ORGANIZATION, TO SET ANNUAL COMPENSATION. THE BOARD OF TRUSTEES SEPARATELY CONDUCTS AN ANNUAL EVALUATION OF THE CHIEF EXECUTIVE OFFICER (CEO). BASED ON PERFORMANCE AND SALARY RECOMMENDATIONS OBTAINED FROM THE PROCEDURES DESCRIBED ABOVE, THE BOARD DETERMINES THE APPROPRIATE SALARY FOR THE CEO AND CONTEMPORANEOUSLY DOCUMENTS ITS DELIBERATIONS. THIS PROCESS WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 THE IRS FORM 990, ANNUAL AUDITED FINANCIAL STATEMENTS, AND AN ANNUAL REPORT ARE AVAILABLE AT WWW.HEIFERFOUNDATION.ORG. OTHER GOVERNANCE INFORMATION IS AVAILABLE UPON REQUEST EITHER IN PERSON, BY PHONE CALL TO (833) 904-4483, EMAIL REQUEST AT INFO@HEIFERFOUNDATION.ORG, OR BY WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST OBLIGATIONS -303,115. 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 (22) PO BOX 727 LITTLE ROCK AR 72203 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 117899 PV OF FUTURE INTEREST