Co-Impact Philanthropic Funds Inc

“Form 990 review process: the form 990 was prepared by an independent accounting firm in conjunction with the organization's finance department. A copy of the draft form 990 was circulated to the full board of directors in either paper or electronic form for discussion and comment. Each board member was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the internal revenue service.”

“Conflict of interest policy: each officer, director, and key employee of the organization is required to annually disclose any conflicts of interest that arise by virtue of employment, board service, or position with the organization. The organization monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately.”

“Part vi, section b, line 15a: the process for determining compensation for top management: the compensation of the founder and ceo, other executive staff, and corporate officers is determined by the finance and investment committee of the board of directors. The committee relies upon a variety of information to arrive at a reasonable compensation package comparable to that paid by peer institutions working globally. Factors reviewed include historical compensation levels, performance objectives, and market data. The organization commissioned compensation studies in 2020, 2021, and 2023 to ensure that its executives are paid reasonable wages compared to its peer institutions in the market in which it operates. Part vi, section b, line 15b: process of determining compensation for other officers or key employees: for all other officers or key employees reported on the 990, and for the full staff of co-impact, compensation is established by the founder and ceo in conjunction with other top management in accordance with the organization's compensation philosophy, which centers on global equity; the organization's annual performance and compensation review process; and compensation studies commissioned in 2021 and 2023 comparing salaries against peer institutions in the market in which it operates.”

“Availability of organizational documents: the organization makes its form 990, audited financial statements, governing documents, conflict of interest policy, and whistleblower policy available to the public on its website at www.co-impact.org. The form 990 is also available on www.guidestar.org.”

“Board members who do not represent donors to co-impact are eligible to receive modest compensation for their service to the organization or to designate donations on their behalf to charitable organizations. Compensation reported in form 990, part vii for certain board members represent payment for services rendered in 2022, 2023 and 2024.”

“From its inception in 2017, co-impact initially operated as a fiscally sponsored project of new venture fund ("nvf"), with the spin-off process completed partially in 2022 and finalized in 2023. As part of the spin-off, nvf transferred all remaining contributions to co-impact's independent entity in 2022 and 2023, with the bulk of funds transferred in 2023, leading to the appearance of higher than typical revenue for the year. These funds represented contributions from donors who funded co-impact by making grants to nvf over five years from 2017 to 2022 from which funds had not been fully expended by the time of the spin-off. In 2024, donors exclusively funded co-impact directly through the independent entity.”

“Founded in 2017, co-impact is a global philanthropic collaborative focused on improving the lives of millions of people through just and inclusive systems change. We bring together philanthropists, foundations, and private sector partners from around the world to pool funding that supports efforts to drive systems change in the sectors of health, education and economic opportunity, in africa, asia, and latin america. Together with locally-rooted program partners and advisors, we form a global collaborative that advances inclusive systems change, gender equality, and women's leadership through grantmaking and influencing philanthropy. Through a range of grants, we support powerful coalitions of actors, from grassroots organizations to government, so that a proven approach or idea can be adopted at scale. Our role is to support the strategic vision of our partners within the contexts in which they live and operate. Through our model for collaborative philanthropy, we bring together funders from around the world to pool funding so that we are able to provide the larger, longer-term and more flexible support needed to transform systems in a lasting way, while we promote a values-aligned approach to funding that is supportive, rather than directive.”

“Rescinded grants 531,478. Present value discount on future pledges -4,416,973. Rounding adjustment -1.”