2024-11-07T16:01:59-06:00 2023-12-31 390974031 WEGNER CPAS LLP 419 N LEE ST ALEXANDRIA VA 22314 990 2023-01-01 474045086 GLOBAL INNOVATION FUND GLOB 2028174579 1201 CONNECTICUT AVE NW 600 WASHINGTON DC 20036 ALIX ZWANE CHIEF EXECUTIVE OFFICER 2028174579 2024-11-06 1 1 GLENN MILLER CPA P00086726 7035190990 2024-11-06 2023 2024-10-15 13:58:12Z ALIX ZWANE 1201 CONNECTICUT AVE NW 600 WASHINGTON DC 20036 725098 0 X WWW.GLOBALINNOVATION.FUND X 2015 DC THE GLOBAL INNOVATION FUND INVESTS IN SOCIAL INNOVATIONS THAT AIM TO IMPROVE THE LIVES AND OPPORTUNITIES OF MILLIONS OF PEOPLE IN THE DEVELOPING WORLD. 4 4 4 0 0 0 1305755 725098 0 0 0 0 0 0 1305755 725098 0 0 0 0 985103 573463 0 0 0 320652 151635 1305755 725098 0 0 79675 15976 79675 15976 0 0 X THE GLOBAL INNOVATION FUND AIMS TO SUPPORT INNOVATIONS THAT WILL IMPROVE LIVES FOR HUNDREDS OF MILLIONS OF PEOPLE ACROSS MULTIPLE DEVELOPING COUNTRIES. INNOVATION HAS ALREADY HAD A VERY SIGNIFICANT IMPACT UPON THE LIVES OF MILLIONS IN DEVELOPING COUNTRIES. WHILST MANY INNOVATIONS ORIGINALLY CREATED FOR DEVELOPED COUNTRIES HAVE HAD A VERY SIGNIFICANT IMPACT IN DEVELOPING COUNTRIES, DEVELOPING COUNTRIES FREQUENTLY FACE UNIQUE CHALLENGES REQUIRING SOLUTIONS WHICH MEET THEIR SPECIFIC NEEDS AND CIRCUMSTANCES. 0 0 598314 0 0 THE GLOBAL INNOVATION FUND (GIF) WORKS TO SUPPORT INNOVATIONS THAT WILL IMPROVE LIVES FOR HUNDREDS OF MILLIONS OF PEOPLE ACROSS MULTIPLE DEVELOPING COUNTRIES. WHILST MANY INNOVATIONS ORIGINALLY CREATED FOR DEVELOPING COUNTRIES HAVE HAD A VERY SIGNIFICANT IMPACT IN DEVELOPING COUNTRIES, DEVELOPING COUNTRIES FREQUENTLY FACE UNIQUE CHALLENGES REQUIRING SOLUTIONS WHICH MEET THEIR SPECIFIC NEEDS AND CIRCUMSTANCES. GIF DEFINES "INNOVATION" BROADLY: ANY SOLUTION TO A DEVELOPMENTAL CHALLENGE THAT HAS THE POTENTIAL TO IMPROVE THE LIVES OF THE POOR IN DEVELOPING COUNTRIES MORE EFFECTIVELY THAN EXISTING APPROACHES. THIS COULD, FOR EXAMPLE, INCLUDE THE DEVELOPMENT OF NEW PRODUCTS, SERVICES, BUSINESS MODELS, OR POLICY PRACTICES THAT BENEFIT POOR AND VULNERABLE COMMUNITIES OR THE DEVELOPMENT OF NEW WAYS TO DELIVER OR TO ADAPT EXISTING PRODUCTS, SERVICES, BUSINESS MODELS, OR POLICY PRACTICES IN ORDER TO ENSURE THAT THEY BECOME MORE EFFECTIVE AT REACHING THE POOR. THERE ARE HIGH COSTS IN DEVELOPING AND BRINGING AN INNOVATION TO SCALE YET SUCCESSFUL INNOVATORS TYPICALLY ONLY CAPTURE A SMALL FRACTION OF THE BENEFITS OF THEIR WORK. THIS IS PARTICULARLY SO IN THE CONTEXT OF INNOVATION FOR THE BENEFIT OF THE POOR IN DEVELOPING COUNTRIES. THIS RESULTS IN MARKET FAILURE AS POTENTIAL INNOVATORS ARE NOT INCENTIVIZED TO MAKE SOCIALLY BENEFICIAL INVESTMENTS LEADING TO UNDERINVESTMENT. THIS LIMITS INNOVATION BY BOTH THE PRIVATE AND THE PUBLIC SECTOR. IN THE PRIVATE SECTOR, INNOVATORS CANNOT CAPTURE ALL INVESTMENT RETURNS AS SUCCESSFUL INNOVATIONS OFTEN INVITE EARLY IMITATION BY COMPETITORS WHILST THEIR DEVELOPMENT IS OFTEN TIME CONSUMING, RISKY AND EXPENSIVE--THIS CAN DISCOURAGE INVESTMENT OUTRIGHT. IN THE PUBLIC SECTOR, THERE IS EVEN LESS RETURN TO THE INNOVATION INVESTOR. INNOVATION DEVELOPERS MAY FIND THEMSELVES BLAMED FOR FAILURES THAT ARE LIKELY TO ARISE AND CANNOT CAPTURE ANY FORM OF MARKET RETURN. SUCH MARKET FAILURE PROVIDES A KEY IMPERATIVE FOR THE PUBLICLY FUNDED SUPPORT FOR INNOVATION WHICH IS DIRECTED AT THE PROBLEMS AFFECTING THE WORLD'S POOREST. 598314 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 3 0 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 0 0 0 X ALIX ZWANE 2028174579 1201 CONNECTICUT AVE NW STE 600 WASHINGTON DC 20036 JIM CLARK CHAIRMAN 1.00 1.00 X X 0 0 0 JANE SIEBELS TREASURER (THRU MAR 23) 1.00 1.00 X X 0 0 0 TOM MASON TREASURER (FROM MAR 23) 1.00 1.00 X X 0 0 0 KATE KAUFMAN DIRECTOR 1.00 1.00 X 0 0 0 JAMES HABYARIMANA DIRECTOR 1.00 1.00 X 0 0 0 ALIX ZWANE CHIEF EXECUTIVE OFFICER 40.00 1.00 X 268846 0 89334 268846 0 89334 1 0 1 0 0 725098 725098 725098 0 0 0 358180 315199 42981 157946 138993 18953 5651 4973 678 23368 20564 2804 28318 24920 3398 7029 7029 43460 43460 1643 1643 17826 12312 5514 258 227 31 1363 1199 164 78981 78981 1075 946 129 725098 598314 126784 0 79675 15976 79675 15976 27501 13194 52174 2782 79675 15976 X 0 0 79675 15976 0 0 X 0 1 X 1 0 X 1590870 2056294 1606203 1305755 725098 7284220 1590870 2056294 1606203 1305755 725098 7284220 7284220 7284220 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 800098 75000 75000 725098 0 725098 800098 75000 75000 725098 0 725098 X 0 1 0 0 0 0 0 0 0 ALIX ZWANE CHIEF EXECUTIVE OFFICER 268846 0 0 0 0 0 62297 0 27037 0 358180 0 0 0 PART I, LINE 4B ALIX ZWANE (OFFICER) RECEIVED PAYMENTS TO A NON-QUALIFIED RETIREMENT PLAN OF $39,632 IN 2023. THESE PAYMENTS ARE INCLUDED IN SCH. J, PART II, COLUMN (C). FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER IS GLOBAL INNOVATION FUND, A CHARITABLE CORPORATION ORGANIZED UNDER THE LAWS OF THE UNITED KINGDOM. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER APPROVES AND APPOINTS THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B ANY AMENDMENTS TO THE GOVERNING DOCUMENTS OR DISSOLUTION, LIQUIDATION, MERGER, OR SALE OF SUBSTANTIAL ASSETS MUST BE APPROVED BY THE MEMBER. FORM 990, PART VI, SECTION B, LINE 11B THE PREPARED FORM 990 WILL BE REVIEWED BY THE LEADERSHIP/EXECUTIVE TEAM OF THE ORGANIZATION'S PARENT ORGANIZATION BEFORE THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C IF THE GOVERNING BODY OR A COMMITTEE DETERMINES THAT A COVERED PERSON HAS A FINANCIAL INTEREST, THEN, IF APPROPRIATE TO PROTECT THE INTERESTS OF THE ORGANIZATION, THE CHAIRPERSON OR A MAJORITY OF THE DISINTERESTED DIRECTORS SHALL APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING REASONABLE DUE DILIGENCE, THE DISINTERESTED DIRECTORS OR COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION COULD OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST AND IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE, THE GOVERNING BODY OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED MEMBERS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTERESTS AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO THE ORGANIZATION AND SHALL DECIDE AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. IF THE CHAIRPERSON OR A MAJORITY OF THE DISINTERESTED DIRECTORS DETERMINE THAT IT IS NOT NECESSARY TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT TO PROTECT THE INTERESTS OF THE ORGANIZATION, THE GOVERNING BODY OR COMMITTEE SHALL DETERMINE THE EXTENT TO WHICH SUCH COVERED PERSON SHALL RECUSE HIMSELF OR HERSELF FROM FURTHER INVOLVEMENT IN THE PROPOSED TRANSACTION OR ARRANGEMENT. 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. GLOBAL INNOVATION FUND 8 DEVONSHIRE SQUARE LONDON UK EC 2M 4PL TO SUPPORT SOCIAL INNOVATION TO IMPROVE LIVES IN THE DEVELOPING WORLD UK 501(C)(3) LINE 7 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0