2025-05-15T13:55:49-05:00 2024-06-30 390974031 WEGNER CPAS LLP 419 N LEE ST ALEXANDRIA VA 223142301 990 2023-07-01 262108051 GRASSROOTS BUSINESS PARTNERS INC GRAS 2025186865 1701 RHODE ISLAND AVENUE NW 04-11 WASHINGTON DC 20036 HAROLD ROSEN CHIEF EXECUTIVE OFFICER 2025186865 2025-05-15 1 1 MITCH DAVIS P01273382 7035190990 2025-05-14 2023 2025-03-06 01:10:19Z GRASSROOTS BUSINESS FUND HAROLD ROSEN 1701 RHODE ISLAND AVENUE NW 04-111 WASHINGTON DC 20036 7707767 0 X WWW.GBFUND.ORG X 2007 DE OUR MISSION IS TO GROW VIABLE, SUSTAINABLE AND INCLUSIVE BUSINESSES THAT GENERATE EARNINGS OR COST SAVINGS FOR PEOPLE IN AFRICA, ASIA AND LATIN AMERICA. 7 6 3 6 0 0 4977525 7456994 324867 195717 0 0 66387 55056 5368779 7707767 1770 0 0 0 595416 937978 0 0 33591 1705370 8969978 2302556 9907956 3066223 -2200189 19393958 27799059 19759860 30380305 -365902 -2581246 X GRASSROOTS BUSINESS PARTNERS, INC. DOES BUSINESS AS GRASSROOTS BUSINESS FUND. GRASSROOTS BUSINESS FUND STRIVES TO CREATE A WORLD WHERE ECONOMIC OPPORTUNITY REACHES EVERYONE. OUR MISSION IS TO GROW VIABLE BUSINESSES THAT GENERATE SUSTAINABLE EARNINGS OR SAVINGS FOR PEOPLE WITH LOW INCOMES IN AFRICA, ASIA, AND LATIN AMERICA. 0 0 6106123 0 190844 GRASSROOTS BUSINESS FUND (GBF) IS HEAVILY INVOLVED IN BUILDING THE FIELD AROUND IMPACT INVESTING BY WORKING CLOSELY WITH PARTNER ORGANIZATIONS, PILOTING NEW INITIATIVES, AND CONTRIBUTING LESSONS LEARNED TO A BROAD AUDIENCE. AS PART OF THE PARTNERSHIP BUILDING, GBF IS A MEMBER OF NUMEROUS WORKING GROUPS INCLUDING THOSE AROUND IMPACT ASSESSMENT, THE DEVELOPMENT OF IMPACT FUNDS, AND CAREERS IN IMPACT INVESTING. AS THE ORGANIZATION GROWS, A CONTINUED EFFORT TOWARDS EXTERNAL DISSEMINATION OF INFORMATION ON THE SUCCESSES AND LESSONS LEARNED RELATING TO IMPACT INVESTING WILL BE CRITICAL FOR OUR ADVANCING OF THE FIELD. 38153 0 4873 GRASSROOTS BUSINESS FUND (GBF) WORKS WITH HIGH-IMPACT BUSINESSES (HIBS) THAT ARE TYPICALLY SMALL OR MID-SIZED BY INTERNATIONAL STANDARDS, BUT ECONOMICALLY ENGAGE LARGE NUMBERS OF THE POOR. GBP MANAGES AN INVESTMENT FUND, GRASSROOTS BUSINESS INVESTORS FUND I, LP (GBI-I).AS OF SEPTEMBER 30TH, 2023, GBI-I DEPLOYED ITS INVESTMENT FUNDS INTO 33 HIGH IMPACT BUSINESSES. AS OF DECEMBER 2023, THERE ARE 3 ACTIVE COMPANIES IN THE PORTFOLIO AND 30 SUCCESSFUL EXITS. TO DATE, GBI-I HAS COLLECTED $35.8M OF PAYMENTS NET OF TAXES. THE AVERAGE SIZE OF INVESTMENT WAS $655K. SINCE INCEPTION, GBI-I'S INVESTEES ARE ESTIMATED TO HAVE GENERATED $600 MILLION OF ECONOMIC VALUE TO 20 MILLION LOW-INCOME COMMUNITIES WORLDWIDE. 6144276 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 6 0 3 1 0 1 IN KE PE 0 0 0 0 0 0 0 0 0 0 X 7 6 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 X LILIAN MRAMBA 5712621459 1701 RHODE ISLAND AVENUE NW STE WASHINGTON DC 20036 HAROLD ROSEN CHIEF EXECUTIVE OFFICER 40.00 X X 114389 0 11498 MARY HOUGHTON CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 ANDREW ADELSON DIRECTOR 1.00 X 0 0 0 HOLLY WISE DIRECTOR 1.00 X 0 0 0 ZOE DEAN-SMITH DIRECTOR 1.00 X 0 0 0 GUILLERMO FERREYROS DIRECTOR 1.00 X 0 0 0 JAIME RAMIREZ DIRECTOR 1.00 X 0 0 0 LILIAN MRAMBA CHIEF INVESTMENT OFFICER/COO 40.00 X 169506 0 17840 283895 0 29338 2 0 1 0 FOURTH GENERATION CAPITAL LTD 2ND FLOOR AFRICA RBT HOUSE AFRICA NAIROBI KE PROGRAM COSTS AND EXPENSES, DELIVERY FEE 1609980 POWERED BY PEOPLE 106 BIRCH AVE TORONTO ONTARIO CA M4V 1C8 PROGRAM COSTS AND EXPENSES, DELIVERY FEE 1015645 KENYA NATIONAL CHAMBER OF COMMERCE & IND WOODLANDS RD OFF ARGWINGS KODHEK R NAIROBI KE PROGRAM COSTS AND EXPENSES 788148 DT GLOBAL INTERNATIONAL DEVELOPMENT KIGANJO HOUSE ROSE AVE KILIMAN NAIROBI KE PROGRAM COSTS AND EXPENSES, DELIVERY FEE 387944 GROOTS KENYA ASSOCIATION PO BOX 10320 - 00100 NAIROBI KE PROGRAM COSTS AND EXPENSES 175246 6 7456994 7456994 MANAGEMENT FEES 541610 148802 148802 CONSULTING SERVICES 541610 46915 46915 195717 55056 55056 55056 7707767 195717 0 55056 X 301582 209794 78492 13296 576211 482055 88131 6025 21036 17534 3502 5341 4235 1106 33808 26256 7269 283 63123 55634 7489 172869 172869 5008487 4979525 28962 5665 4474 1069 122 95561 74751 18900 1910 56444 44581 10643 1220 46918 28119 18788 11 56825 40096 8952 7777 17279 13683 3227 369 8840 6982 1667 191 101960 80531 19226 2203 BAD DEBT EXPENSE 3235127 3235127 DUE DILIGENCE 41765 41765 FEES AND PERMITS 34190 11415 22775 24925 22846 1895 184 9907956 6144276 3730089 33591 17906521 19011080 55000 130000 43226 109574 37295 75493 54760 19650 35414 35110 1316502 8437802 19393958 27799059 197855 415484 11715455 19568823 7846550 10395998 19759860 30380305 X -406902 -2706246 41000 125000 -365902 -2581246 19393958 27799059 X -2200189 -15155 X 0 1 X 1 0 X 420000 49551 22553 33737 250000 775841 420000 49551 22553 33737 250000 775841 443323 332518 47568 785 48353 824194 4563982 0.40340 0.67580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 28894 5251 23643 25866 14399 11467 35110 DUE FROM GRASSROOTS BUSINESS INVESTORS 12585 PROJECT LOANS RECEIVABLE (NET OF ALLOWANCE) 6484951 SECURITY DEPOSITS 8663 OPERATING LEASE RIGHT OF USE ASSET 143085 DEFERRED INCOME TAX ASSET 4 GRANT ADVANCE 1788514 8437802 REFUNDABLE ADVANCES 10249346 OPERATING LEASE LIABILITY 146652 10395998 1 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 1 7 PROGRAM SERVICES PROGRAM ADVISORY SERVICES 4990 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 1 9 PROGRAM SERVICES PROGRAM ADVISORY SERVICES 7394115 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 1 9 PROGRAM SERVICES PROGRAM ADVISORY SERVICES 14892 NORTH AMERICA 0 1 PROGRAM SERVICES PROGRAM ADVISORY SERVICES 1015645 CENTRAL AMERICA AND THE CARIBBEAN 1 0 PROGRAM SERVICES PROGRAM ADVISORY SERVICES 12813 SUB-SAHARAN AFRICA 0 0 INVESTMENTS 1835927 4 26 0 0 4 26 10278382 0 10278382 1 0 1 0 1 0 PART I, LINE 2: USE OF FUNDS REPORTS ARE OBTAINED QUARTERLY AND ANNUALLY A COPY OF THE AUDITED FINANCIALS OF THE RECIPIENT ORGANIZATION ARE REVIEWED. GBF WORKS CLOSELY WITH ITS HIGH IMPACT BUSINESSES ABROAD TO CREATE CUSTOMIZED TECHNICAL ASSISTANCE PROGRAMS BASED ON THE NEEDS OF THE BUSINESS. IN ADDITION TO REQUIRING EACH GRANTEE TO SUBMIT QUARTERLY REPORTS ON USE OF FUNDS, FINANCIAL STATUS AND ACHIEVEMENTS AS A RESULT OF THE GRANT, GBF MEETS REGULARLY WITH BUSINESS TO FOSTER A WORKING RELATIONSHIP WHICH ALLOWS FOR CONSTANT UPDATES AND OPEN COMMUNICATION ABOUT THE GRANT USE AND FUTURE PARTNERSHIPS. PART I, LINE 3: THE ORGANIZATION USES THE ACCRUAL METHOD OF ACCOUNTING TO ACCOUNT FOR EXPENDITURES IN THE LISTED REGIONS. X X X 0 0 0 0 0 0 0 0 0 LILIAN MRAMBA CHIEF INVESTMENT OFFICER/COO 145146 0 24360 0 0 0 8593 0 9247 0 187346 0 0 0 FORM 990, PART I, LINE 1 GRASSROOTS BUSINESS FUND (GBF), A BRAND OF ENTITIES, DELIVERS A DISTINCTIVE BLEND OF INVESTMENT CAPITAL AND BUSINESS ADVISORY SERVICES THROUGH TWO MAIN VEHICLES WORKING TOGETHER: A PRIVATE INVESTMENT FUND AND A NON-PROFIT ORGANIZATION. THROUGH THE FUND, GRASSROOTS BUSINESS INVESTORS I, LP (GBI-I), GBF MAKES EQUITY, MEZZANINE EQUITY, MEZZANINE DEBT, AND STRAIGHT DEBT INVESTMENTS. THESE CUSTOMIZED INVESTMENT STRUCTURES ENSURE THAT GBF'S INVESTMENT PERFORMANCE ALIGNS WITH THE BUSINESSES' PERFORMANCE. THE FUND DELIVERS A FORM OF CAPITAL SUITABLE FOR LONG-TERM INVESTMENT IN BUSINESSES SERVICING LOW INCOME COMMUNITIES. IN TANDEM, THE NON-PROFIT ORGANIZATION, GRASSROOTS BUSINESS PARTNERS, INC. (GBP), PROVIDES BUSINESS ADVISORY SERVICES TO CLIENTS IN THE FUND. GBF'S STAFF, EXPERT CONSULTANTS, AND LOCAL SERVICE PROVIDERS FOCUS ON ENHANCING FINANCIAL AND STRATEGIC PLANNING, CORPORATE GOVERNANCE, HUMAN RESOURCE MANAGEMENT, MARKETING, SUPPLY CHAIN MANAGEMENT, AND MANAGEMENT INFORMATION SYSTEMS. ADDITIONALLY, GBP MANAGES THE INVESTMENT FUND, AND THE DEVELOPING ADDITIONAL TOOLS AND ACTIVITIES TO BOTH ASSIST THE FIELD WITH KNOWLEDGE AND ALSO PROVIDE POSSIBLE FUTURE ACTIVITIES FOR GBP. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING DIRECTORS OF THE ORGANIZATION ARE ALSO INVESTORS IN A RELATED PARTNERSHIP, GRASSROOTS BUSINESS INVESTORS I, LP: ANDREW ADELSON AND HAROLD ROSEN. EACH OF THESE DIRECTORS CONTRIBUTED CAPITAL TO THE PARTNERSHIP AND RECEIVED A CORRESPONDING INVESTMENT INTEREST IN THE PARTNERSHIP. NONE OF THE INVESTORS HAVE A VOTING INTEREST IN NOR DO THEY RECEIVE COMPENSATION FROM GRASSROOTS BUSINESS INVESTORS I, LP. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE PREPARED FORM 990 IS SUBMITTED TO THE MEMBERS OF THE GOVERNING BODY FOR REVIEW AND APPROVAL BEFORE THE RETURN IS FILED WITH THE IRS. AT THE REQUEST OF THE GOVERNING BODY, A REPRESENTATIVE OF THE INDEPENDENT ACCOUNTING FIRM MAY ATTEND A MEETING OF THE GOVERNING BODY TO ANSWER QUESTIONS RELATED TO THE FINANCIAL CONDITION OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION CURRENTLY HAS A CONFLICT OF INTEREST POLICY THAT COVERS ALL EMPLOYEES AND THE MEMBERS OF THE GOVERNING BODY. THE ORGANIZATION'S CONFLICT OF INTEREST POLICY WAS REVIEWED AND APPROVED BY THE MEMBERS OF THE GOVERNING BODY. THE ORGANIZATION REQUIRES EACH MEMBER OF THE GOVERNING BODY TO SIGN A CONFLICT OF INTEREST DISCLOSURE FORM ON AN ANNUAL BASIS. THE FORM REQUIRES THAT ANY CURRENT OR POTENTIAL CONFLICTS OF INTEREST BE DISCLOSED. SHOULD A POTENTIAL NEW CONFLICT BE DISCLOSED, IT IS REVIEWED AT EITHER THE GOVERNING BODY OR SENIOR MANAGEMENT LEVEL TO DETERMINE WHETHER IT IS AN ACTUAL CONFLICT. IF IT IS DEEMED A CONFLICT OF INTEREST, THE EMPLOYEE OR DIRECTOR IS EXCLUDED FROM ANY DECISION-MAKING MEETINGS AND DECISIONS RELATING TO THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE MEMBERS OF THE GOVERNING BODY REVIEW AND APPROVE THE GENERAL STRUCTURE OF THE ORGANIZATION'S COMPENSATION AS WELL AS THE SPECIFIC COMPENSATION OF THE MANAGEMENT TEAM. THE GOVERNING BODY GOVERNS COMPENSATION AND BONUS ADMINISTRATION. THE GOVERNING BODY DECIDES THE GENERAL LEVEL OF COMPENSATION FOR ALL STAFF. STAFF IS COMPENSATED BASED ON INDUSTRY AVERAGES AND THEN COMPENSATION IS APPROVED BY MANAGEMENT. MANAGEMENT'S COMPENSATION IS EVALUATED ANNUALLY AND APPROVED BY THE GOVERNING BODY. THE MOST RECENT REVIEW OF MANAGEMENT COMPENSATION TOOK PLACE IN JUNE 2017, UTILIZING PERFORMANCE AS WELL AS COMPARABLE DATA TO DETERMINE THE FINAL LEVEL OF COMPENSATION FOR MANAGERS. ALL FULL TIME EMPLOYEES ARE ELIGIBLE FOR A BONUS EQUAL TO A MAXIMUM PERCENTAGE OF THEIR GROSS ANNUAL BASE SALARY AS DETERMINED IN THEIR WRITTEN EMPLOYMENT CONTRACT. THE MEMBERS OF THE GOVERNING BODY REVIEW THE OVERALL ALLOCATION OF BONUSES AND IN DETAIL DETERMINE AND APPROVE THE BONUSES FOR MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ADDITIONALLY, FINANCIAL STATEMENTS WERE PUBLISHED IN THE ANNUAL REPORT. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 4,979,525. MANAGEMENT AND GENERAL EXPENSES 28,962. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,008,487. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY TRANSLATION LOSS -93. LOSS ON DISPOSAL OF FIXED ASSET -15,062. 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