2024-11-12T10:55:43-06:00 2023-12-31 BDO USA 200 PARK AVENUE 38TH FLOOR NEW YORK NY 10166 990 2023-01-01 814109426 WATEREQUITY INC % PAUL COHOON WATE 8162891803 117 W 20TH STREET Suite 204 KANSAS CITY MO 64108 PAUL O'CONNELL PRESIDENT 8162891803 2024-11-11 true true Paul Hammerschmidt P01384178 2128858000 2024-11-11 2023 2024-10-15 13:58:12Z Gary White 117 W 20TH STREET suite 204 KANSAS CITY MO 64108 7110561 false X WWW.WATEREQUITY.COM X 2016 MO TO FOSTER AN ENDURING INVESTMENT CAPITAL MARKET THAT ACCELERATES UNIVERSAL ACCESS TO SAFE WATER AND SANITATION in low- and middle-income countries. 7 7 22 7 0 0 2123811 2101000 3113915 3980343 150332 874489 72 154729 5388130 7110561 0 0 0 0 2862969 3750661 0 0 169093 1893716 3340666 4756685 7091327 631445 19234 22828152 23760946 3079076 3859658 19749076 19901288 TO FOSTER AN ENDURING INVESTMENT CAPITAL MARKET THAT ACCELERATES UNIVERSAL ACCESS TO SAFE WATER AND SANITATION IN LOW- AND MIDDLE-INCOME COUNTRIES. false false 6674658 0 3980343 WATEREQUITY IS THE FIRST ASSET MANAGER EXCLUSIVELY FOCUSED ON SOLVING ONE OF THE MOST URGENT ISSUES OF OUR TIME - THE GLOBAL WATER AND SANITATION CRISIS. AS OF DECEMBER 31, 2023, WATEREQUITY REACHED 5.8 MILLION PEOPLE WITH ACCESS TO SAFE WATER AND/OR SANITATION. ACROSS FUNDS, WE HAVE DEPLOYED MORE THAN $386 MILLION DOLLARS TOWARD SOLVING SUSTAINABLE DEVELOPMENT GOAL 6, AND THE FUNDS' INVESTEES HAVE DISBURSED MORE THAN 1 MILLION WATER AND SANITATION MICROLOANS. IN LINE WITH OUR MISSION, OUR INVESTMENTS CONTINUE TO IMPACT MOSTLY WOMEN AND LOW-INCOME CLIENTS. 6674658 true true false false false false false false false false false false true true false false false false false false true false false false false false false false false true false false false false false false false false false false false false true true true true false false true X 22 0 true 22 true false true IN false false false false false false false false false false X 7 7 false false false false false false false true true false false true true true true true true false false false X PAUL COHOON 8162891803 117 W 20TH STREET SUITE 204 KANSAS CITY MO 64108 X JOHN MOYER CHIEF INVESTMENT OFFICER 40.0 10.0 X 209402 104060 33416 CATHERINE COLYER CHIEF OPERATIONS OFFICER 40.0 10.0 X 159207 81970 69244 ELAN EMANUEL CHIEF INV. RELATIONS OFFICER 40.0 10.0 X 157660 76949 54971 GENEVIEVE EDENS SENIOR DIRECTOR, IMPACT & ESG 40.0 10.0 X 123187 58346 24072 CHERYL WRIGHT SR. DIR. OF LEGAL & COMPLIANCE 40.0 10.0 X 116507 53677 27158 JESSICA O'NEILL DIRECTOR, COMMUNICATIONS 40.0 10.0 X 112169 48591 30745 EMMA ALLER DIR., RISK AND PORTFOLIO MGT 40.0 10.0 X 98337 58215 29458 HASAN ANDALIB ASSO. DIR., ALT. FL INVESTMENT 40.0 10.0 X 112354 47198 21059 PAUL COHOON DIRECTOR OF ACCOUNTING 40.0 10.0 X 106280 48967 21680 MARIE MILLIGAN EFF 0123 CHIEF COMPLIANCE OFFICER 40.0 10.0 X 106086 54999 15407 PAUL O'CONNELL PRESIDENT 40.0 10.0 X 68227 22642 46716 GARY WHITE CEO (THRU 12/23), CHAIRMAN 10.0 10.0 X X 0 0 0 GLENN ROCKMAN SECRETARY 1.0 1.0 X X 0 0 0 AMY BELL TREASURER 1.0 1.0 X X 0 0 0 JAN CREIDENBERG DIRECTOR 1.0 1.0 X 0 0 0 VICKI BOYNE DIRECTOR 1.0 1.0 X 0 0 0 MARGRET TRILLI DIRECTOR 1.0 1.0 X 0 0 0 TERRY TRAYVICK DIRECTOR 1.0 1.0 X 0 0 0 1369416 655614 373926 14 false true false ARNOLD PORTER KAYE SCHOLER LLP THREE EMBARCADERO CENTER 10TH FLOO SAN FRANCISCO CA 94111 LEGAL CONSULTING 538330 SINGARA ADVISORY PTE LTD 16 STIRLING ROAD 02-15 QUEENS 0 SN 148957 CONSULTING 221759 MNICA A ALTAMIRANO DE JONG OUDE DELFT 128 DELFT 0 NL 2611 CG CONSULTING 213798 SRIDHAR SAMPATH 4A MALOLA NILAYAM 69 RAMASAMI SAL CHENNAI 0 IN 600078 CONSULTING 200838 NJERI KIRUMBI PO BOX 34123 - 00100 NAIROBI 0 KE CONSULTING 183589 11 2101000 2101000 MANAGEMENT FEE INCOME 541618 3980343 3980343 3980343 874489 874489 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MISCELLANEOUS REVENUE 900099 154729 154729 154729 7110561 3980343 1029218 X 0 0 0 0 924516 873289 21458 29769 0 2291616 2164637 53189 73790 75500 70164 2182 3154 217503 198611 9031 9861 241526 224766 7087 9673 0 682449 670039 11690 720 90584 82834 7750 0 0 0 2094510 2073483 21027 0 11988 6000 5988 63322 57493 1282 4547 13052 13052 0 13864 13864 283162 217523 35715 29924 0 10069 10069 0 0 0 17736 15962 1774 TEAM EVENTS 47276 47276 MEMBERSHIP DUES & SUBS. 12654 5993 4994 1667 7091327 6674658 247576 169093 0 0 10129709 12429813 3000000 0 210844 347641 0 0 0 0 0 0 0 0 149219 149298 0 0 0 0 0 0 4196415 5506095 0 0 5141965 5328099 22828152 23760946 671346 825226 0 0 0 0 0 0 0 0 0 0 0 0 2407730 3034432 0 0 3079076 3859658 X 18674076 18826288 1075000 1075000 19749076 19901288 22828152 23760946 19234 132978 X false false false X 3500056 10829885 1169928 2123811 2101000 19724680 0 0 3500056 10829885 1169928 2123811 2101000 19724680 12577979 7146701 31728 9042 68779 150332 874489 1134370 0 79075 8163 0 72 154729 242039 21101089 11846435 0.33869 0.33230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED GLOBAL ACCESS FUND 3989165 F GLOBAL ACCESS FUND IV 1042553 F WATERCREDIT INVESTMENT FUND 3 474377 F 5506095 CASH GNTEE./COLLATERAL-WCIF3 5328099 5328099 East Asia and the Pacific 0 5 Program Services CONSULTING 686300 Europe (Including Iceland and Greenland) 0 3 Program Services CONSULTING 247378 Russia and the Newly Independent States 0 1 Program Services CONSULTING 8631 South America 0 3 Program Services CONSULTING 154708 South Asia 0 6 Program Services CONSULTING 625637 Sub-Saharan Africa 0 2 Program Services CONSULTING 189529 0 20 0 20 1912183 1912183 false false false true true false SCHEDULE F, PART I, LINE 1: THE ORGANIZATION DOES NOT MAKE GRANTS, SO THIS QUESTION DOES NOT APPLY. SCHEDULE F, PART I, LINE 3, COLUMN F: THE ORGANIZATION USES THE ACCRUAL METHOD OF ACCOUNTING. false false false false false true true true false JOHN MOYER CHIEF INVESTMENT OFFICER 193532 65000 15870 39000 0 60 7773 24700 707 236 217882 128996 22954 0 CATHERINE COLYER CHIEF OPERATIONS OFFICER 145197 49032 14010 32800 0 138 6117 22550 30543 10034 195867 114554 17537 0 ELAN EMANUEL CHIEF INV. RELATIONS OFFICER 144580 49189 13080 27700 0 60 6108 19558 22068 7237 185836 103744 17967 0 MARIE MILLIGAN EFF 0123 CHIEF COMPLIANCE OFFICER 106086 35439 0 19500 0 60 4475 10000 699 233 111260 65232 10800 0 PAUL COHOON DIRECTOR OF ACCOUNTING 95990 32119 10290 16800 0 48 4267 8462 6734 2217 117281 59646 9624 0 GENEVIEVE EDENS SENIOR DIRECTOR, IMPACT & ESG 111037 37292 12150 21000 0 54 4473 9837 7350 2412 135010 70595 11075 0 CHERYL WRIGHT SR. DIR. OF LEGAL & COMPLIANCE 104357 34939 12150 18600 0 138 4761 8575 10371 3451 131639 65703 11383 0 JESSICA O'NEILL DIRECTOR, COMMUNICATIONS 92994 31105 11220 15600 7955 1886 4329 7824 13782 4810 130280 61225 10281 0 HASAN ANDALIB ASSO. DIR., ALT. FL INVESTMENT 100204 33644 12150 13500 0 54 4024 7451 7221 2363 123599 57012 9392 0 EMMA ALLER DIR., RISK AND PORTFOLIO MGT 98337 39860 0 18300 0 55 3947 10082 11316 4113 113600 72410 0 0 SCHEDULE J, PART I, LINE 6: WATEREQUITY, INC. HAS A DEFERRED COMPENSATION PROGRAM CALLED "LEAP" (LINKED EARNINGS AND PERFORMANCE PLAN). LEAP POINTS ARE AWARDED AT THE END OF THE BUSINESS YEAR BASED ON EMPLOYEE PERFORMANCE, AND TYPICALLY HAVE AN EXPECTED VALUE IN THE RANGE OF 4-6% OF SALARY. THE POINTS BEGIN WITH A VALUE OF $1 EACH. THESE POINTS ARE THEN SCORED OVER THE UPCOMING YEAR BASED ON OUR FUND RETURNS, IMPACT, INVESTOR COMMITMENTS, AND WATEREQUITY'S PROFITABILITY. THE POINTS ARE PAID OUT IN 16 FULL YEAR PLUS 4 MONTHS FROM THE DATE OF ISSUE AND CAN BE WORTH $0-$3 EACH BASED ON PERFORMANCE. POINTS AWARDED IN DECEMBER 2023 WILL BE PAID OUT IN APRIL 2025 BASED ON BUSINESS PERFORMANCE DURING 2024. THE POINTS AWARDED IN DECEMBER 2023 ARE INCLUDED IN COLUMN (C) OF PART II, SCH J. SCHEDULE J, PART I, LINE 7: EMPLOYEES ARE ELIGIBLE FOR INCENTIVE COMPENSATION EQUAL TO VARYING PERCENTAGES OF THEIR BASE SALARY BASED ON THE LEVEL OF THEIR POSITION. THE PRESIDENT AND DIRECT SUPERVISOR OF THE EMPLOYEE HAVE THE RIGHT TO ADJUST INDIVIDUAL EMPLOYEE'S INCENTIVE COMPENSATION BASED ON INDIVIDUAL PERFORMANCE AND/OR KEY CONTRIBUTIONS TO GOAL ACHIEVEMENTS. FORM 990, PART V, LINE 1A: The reporting organization issued 13 Form 1099s and WaterEquity LLC (f/k/a WaterCredit LLC), a disregarded entity of the reporting organization, issued 9 Form 1099s during calendar year 2023. FORM 990, PART V, LINE 2A: The reporting organization had 22 employees and WaterEquity LLC (f/k/a WaterCredit LLC), a disregarded entity of the reporting organization, had 20 employees during calendar year 2023. WaterEquity LLC has its own EIN and has filed Form W-2's for its employees. FORM 990, PART VI, SECTION B, LINE 11B: A DRAFT OF FORM 990 IS PREPARED AND REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM. THE DRAFT FORM 990 IS THEN REVIEWED BY WATEREQUITY'S MANAGEMENT AND THE AUDIT COMMITTEE OF THE BOARD. ANY EDITS OR MODIFICATIONS ARE JOINTLY APPROVED WITH THE ACCOUNTING FIRM, IF NECESSARY. THE COMPLETE FORM 990, TOGETHER WITH ALL REQUIRED SCHEDULES IS PROVIDED TO THE FULL BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C: ANNUAL STATEMENTS: EACH DIRECTOR, PRINCIPAL OFFICER, AND MEMBER OF A GOVERNING BOARD SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: (A) HAS RECEIVED A COPY OF WATEREQUITY'S CONFLICT OF INTEREST POLICY. (B) HAS READ AND UNDERSTANDS THE POLICY, (C) HAS AGREED TO COMPLY WITH THE POLICY, AND (D) UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND, TO MAINTAIN ITS FEDERAL TAX EXEMPTION, MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. PERIODIC REVIEWS: TO ENSURE THAT WATEREQUITY OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOESN'T ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS. THE COO CONDUCTS PERIODIC REVIEWS, IN CONSULTATION WITH THE BOARD WHERE NECESSARY, THAT ASSESS: WHETHER ARRANGEMENTS WITHIN THE ORGANIZATION AND ACROSS RELATED ORGANIZATIONS CONFORM TO THE ORGANIZATION'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DON'T RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT, OR IN AN EXCESS BENEFIT TRANSACTION. WHEN CONDUCTING THE PERIODIC REVIEWS, THE ORGANIZATION MAY, BUT NEED NOT, USE OUTSIDE ADVISORS. IF OUTSIDE EXPERTS ARE USED, THEIR USE SHALL NOT RELIEVE THE WATEREQUITY BOARD OF DIRECTORS OF ITS RESPONSIBILITY FOR ENSURING PERIODIC REVIEWS ARE CONDUCTED. NOTE: THE 2023 ANNUAL STATEMENTS WERE COLLECTED IN DECEMBER 2023. FORM 990, PART VI, SECTION B, LINE 15A & 15B: THE BOARD REVIEWED AND APPROVED EMPLOYEE COMPENSATION BASED ON THEIR INDUSTRY KNOWLEDGE AND EXPERIENCE. THERE WERE NO OFFICIAL COMPENSATION STUDIES OR TESTS USED TO COMPLETE THAT REVIEW. FORM 990, PART VI, SECTION C, LINE 19: GOVERNING DOCUMENTS, A COMPLIANCE POLICIES AND PROCEDURES MANUAL, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990 PART IX LINE 11G DESCRIPTION:INTL CONTR.-DUE DILIGENCE TOTAL FEES:1600190 FORM 990 PART IX LINE 11G DESCRIPTION:OUTSIDE SERVICES TOTAL FEES:396762 FORM 990 PART IX LINE 11G DESCRIPTION:CONSULTING SERVICES TOTAL FEES:71406 FORM 990 PART IX LINE 11G DESCRIPTION:FUND ADMINISTRATOR TOTAL FEES:18186 FORM 990 PART IX LINE 11G DESCRIPTION:OTHER PROFESSIONAL FEES TOTAL FEES:7966 WATEREQUITY LLC FKA WATERCREDIT LLC 117 W 20TH STREET SUITE 204 KANSAS CITY MO 64108 465146273 INV. ADVISOR MO 4248570 4947235 WEQUITYInc WATERCREDIT GP LLC 117 W 20TH STREET SUITE 204 KANSAS CITY MO 64108 371913641 Gen. Partner MO 0 0 WEQUITYLLC GLOBAL ACCESS FUND GP LLC 117 W 20TH STREET SUITE 204 KANSAS CITY MO 64108 920960925 Gen. Partner MO 0 0 WEQUITYLLC GLOBAL ACCESS FUND IV GP LLC 117 W 20th Street Suite 204 Kansas City MO 64108 881131562 Gen. Partner MO 0 0 WEQUITYLLC WATER & CLIMATE RESILIENCE FUND GP LLC 117 W 20TH STREET SUITE 204 KANSAS CITY MO 64108 932476338 GEN. PARTNER MO 0 0 WEQUITYLLC WATER & CLIMATE RESILIENCE FUND LP 117 W 20TH STREET SUITE 204 KANSAS CITY MO 64108 932458902 GEN. PARTNER MO 0 0 W&CRF GP LLC WaterCredit Investment Fund 3 LP 117 W 20th St Kansas City MO 64108 475166202 Investment Fund DE WATEREQUITY LLC RELATED 22908 1110898 false 0 true 0.01795 GLOBAL ACCESS OFFSHORE FUND LP 117 WEST 20TH STREET SUITE 204 KANSAS CITY MO 64108 872956614 Investment Fund CJ WATEREQUITY LLC RELATED 223852 8297316 false 0 true 0.00000 GLOBAL ACCESS FUND LP 117 W 20th Street Suite 204 Kansas City MO 64108 844511054 Investment Fund DE WATEREQUITY LLC RELATED 0 1388940 false 0 true 0.00000 GLOBAL ACCESS FUND IV LP 117 W 20th Street Suite 204 Kansas City MO 64108 881215908 Investment Fund DE WATEREQUITY LLC RELATED 4677 3332138 false 0 true 0.02083 false true false true false true false false false false false true false true true true true false false GLOBAL ACCESS FUND IV LP B 1050000 FMV WATERCREDIT INVESTMENT FUND 3 LP D 5328099 FMV GLOBAL ACCESS OFFSHORE FUND LP F 232343 FMV WATERCREDIT INVESTMENT FUND 3 LP p 58032 FMV WATERCREDIT INVESTMENT FUND 3 LP Q 60026 FMV GLOBAL ACCESS FUND LP Q 133992 FMV GLOBAL ACCESS FUND IV LP Q 396224 FMV FORM 990, SCHEDULE R, PART I, LINE 1: WATERCREDIT, LLC (A DISREGARDED ENTITY) CHANGED ITS NAME TO WATEREQUITY LLC EFFECTIVE SEPTEMBER 1, 2023. Global Access Fund IV LP (88-1215908) launched and is no longer a DRE. Water & Climate Resilience Fund LP (93-2458902) was established with the IRS in 2023, it is a DRE until 2024. Water & Climate Resilience Fund GP (93-2476338) was established with the IRS in 2023, it is a DRE.