| Entity | Document Type | Tax ID |
|---|---|---|
| One Ace Fund and Subsidiaries | Consolidated Audited Financial Statements | Multiple |
| One Ace Fund | IRS Form 990 | 20-3668110 |
|
Entity: One Ace Fund and Subsidiaries Document Type: Consolidated Audited Financial Statements Tax ID: Multiple |
|
Entity: One Ace Fund Document Type: IRS Form 990 Tax ID: 20-3668110 |
| Name | Title | Compensation | |
|---|---|---|---|
| 1 | Matthew Forti | Managing Director, OAF USA | $261,273 |
| 2 | Anna Carson | Business Development Senior Director | $255,164 |
| 3 | Gideon Maina | Chief Financial Officer | $232,682 |
|
1 Name: Matthew Forti Title: Managing Director, OAF USA Compensation: $261,273 |
|
2 Name: Anna Carson Title: Business Development Senior Director Compensation: $255,164 |
|
3 Name: Gideon Maina Title: Chief Financial Officer Compensation: $232,682 |
CharityWatch's rating of One Acre Fund also includes the financial activities of the organizations included in the One Acre Fund audited consolidated financial statements for the year ended December 31, 2024. In addition to the U.S.-based One Acre Fund, the accounts of 11 related entities are included in the One Acre Fund 2024 audited consolidated financial statements, according to Note 2, Principles of Consolidation. These include: Democratic Republic of the Congo Nongovernment Organization One Acre Stichting (Netherlands) One Acre UK Limited (United Kingdom) One Acre Fund Limited (Malawi) One Acre Farmers Organization (Nigeria) Smallholder Resilience Ventures, LLC (U.S.) Smallholder Resilience Ventures (Rwanda) One Acre Tanzania Limited One Acre Fund Tubura (Rwanda) One Acre Impact Limited (Zambia) One Acre Impact Fund Limited (Nigeria) All significant intercompany transactions were eliminated in audit consolidation. |
According to the One Acre Fund consolidated audit of December 31, 2024 (Note 6, Related Party Transactions): "The Organization grants permanent staff and staff members on fixed-term contracts of more than 12 months in good standing the ability to take out a cash loan, salary advance, or non-cash loans of input or equipment. Management believes these transactions are conducted at arm's length." |
According to the One Acre Fund consolidated audit of December 31, 2024 (Note 14, Concentration of Foreign Operations Risk): "Contributions are raised globally, with a majority within the United States. The Organization's program activities involve providing agricultural inputs, training, and other services on credit in various foreign countries. While foreign operations risk is somewhat diversified across countries, and is actively managed by the Organization, it remains reasonably possible that operations outside the U.S. could be disrupted due to political economic, or natural events, impacting the normal functioning of these programs. As of December 31, 2024 and 2023, the Organization held assets outside the U.S. with carrying values of $175,841,863 and $124,319,270, respectively. These assets are primarily concentrated across four countries in East Africa, with the largest share located in Rwanda and Kenya, which had a carrying value of $54,294,076 and $52,394,426, respectively. In 2023, Rwanda and Kenya held assets which had a carrying value of $39,598,202 and $42,257,938, respectively." |
According to the One Acre Fund 2024 tax filing, One Acre Fund reports re: Compensation, Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (IRS Form 990, Schedule J, Part II): One Acre Fund reports providing "bonus & incentive compensation" to 11 individuals during 2024. Gideon Maina, Chief Financial Officer, received $60,677 of bonus and incentive compensation with total reported compensation of $232,682. The remaining 10 individuals received $1,410 to $52,083 with total reported compensation ranging from $184,759 to $261,273. |
