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THE GLOBAL GOOD FUND

Developing Social Entrepreneurs Into Impactful Global Leaders

Glenwood, MD   |  www.globalgoodfund.org
GuideStar Charity Check

THE GLOBAL GOOD FUND

EIN: 46-1495972


Mission

The Global Good Fund is a leadership development enterprise built by and for social entrepreneurs. We recognize that talent is evenly distributed but opportunity is not. We even the playing field for the world’s brightest leaders to help their ideas become the reality we strive for: a more equitable, just society.

Ruling year info

2013

CEO, Co-Founder

Mrs. Carrie Rich

Main address

3066 Hobbs Road

Glenwood, MD 21738 USA

Show more contact info

EIN

46-1495972

Subject area info

Leadership development

Economic development

Population served info

Adults

Veterans

NTEE code info

Leadership Development (W70)

Economic Development (S30)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Communication

Blog

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

The Global Good Fund Fellows are solving the world’s most pressing social issues of our times: from climate change to healthcare, criminal justice reform to equal education. The Global Good Fund Fellowship is focused on advancing the leadership development of these young, high-potential innovators because only transformational leaders can inspire teams of people who change the world.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

The Global Good Fund Fellowship

The Global Good Fund Fellowship is a 12-month program supporting the leadership development of young social entrepreneurs across the globe. The Global Good Fund develops these innovators by pairing them with executive coaches, business mentors, a network of peers, sector expertise, and targeted financial capital.

The Fellowship is in its eighth year running and has supported 100+ global social entrepreneurs to date.

Population(s) Served
Adults

The Global Good Fund supports United States veterans through its partnership with the Smithfield Foundation, the philanthropic arm of Smithfield Foods, Inc. The Global Good Fund provides its flagship, year-long fellowship to veteran entrepreneurs. These innovators are focused on giving back to their communities, creating sustainable jobs, and supporting veterans and their families.

The Global Good Fund develops the leadership skills of veteran entrepreneurs by pairing them with executive coaches and business mentors, a global peer network, sector expertise and $10,000 in targeted funding.

The Fellowship is in its third year running and has supported 25 veteran entrepreneurs to date.

Population(s) Served
Veterans

Leading Entrepreneurs to Accelerate Prosperity (LEAP) ensures that The Global Good Fund advances the leadership development of more social entrepreneurs annually.

A select group of the top 2% of applicants for The Global Good Fund Fellowship, who were not selected for the year-long program, are chosen to participate in LEAP, a seven-month virtual program. Social entrepreneurs receive a leadership assessment, one-on-one executive coaching, group business mentoring and a network of peers to accelerate their growth and impact.

LEAP is in its second year running and has supported 44 social entrepreneurs to date.

Population(s) Served
Adults

Where we work

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

The Global Good Fund’s theory of change is based on the premise that investing in the leadership growth of social entrepreneurs will result in empowered leaders who scale their enterprises to deliver positive, sustainable social and economic impact. The Global Good Fund envisions a future where entrepreneurs become leaders of our generation, working to advance common goals within a thriving ecosystem of Fellows, coaches, mentors, funders, and supporters. Ultimately, we aim to even the playing field for the world’s brightest leaders to help their ideas become the reality we strive for: a more equitable, just society.

The Global Good Fund Fellowship supports the leadership development of social entrepreneurs in five key ways:

1. Access to a top-tier business mentor -- a C-suite executive leader who has experience founding, leading, and growing successful companies.
2. Ensure Fellows transcend cultural barriers to access resources.
3. Provide a $10,000 grant to fund experiential learning focused on leadership.
4. Offer personalized leadership development coaching.
5. Promote Fellows work locally and nationally to increase visibility.

We do this through a Fellowship model. The Global Good Fund recruits and selects high-potential, innovative entrepreneurs through a three-stage application. Applicants are screened for 1) their passion and purpose, 2) innovation and financial viability of enterprise, 3) scale of social impact, 4) management skills and 5) leadership potential and coachability. Following the launch of the Fellowship, social entrepreneurs complete The Global Good Fund 360 MIRROR Leadership Assessment, the first evidence-based leadership assessment tool created for social entrepreneurs. Each entrepreneur then receives one-on-one executive coaching to create a Personalized Leadership Development Plan. In the spring, Fellows join the greater Global Good Fund entrepreneurial community to attend The Global Good Fund’s Summit & Gala. This four-day event is a pivotal part of the program as it fosters community, peer learning and relationship building among Fellows, mentors and coaches from around the world. For the remainder of the Fellowship, Fellows receive one-on-one mentoring from an Executive Mentor to implement their Leadership Plans. Fellows are granted a $10,000 investment of leadership funds to accelerate their growth.

The Global Good Fund has seven years of experience recruiting for and executing leadership capacity-building Fellowships. We have successfully scaled our flagship Fellowship to a highly selective cohort of global social entrepreneurs with an 85%+ increase in applicants since our first Fellowship. This scale demonstrates the demand for our program and The Global Good Fund’s recruitment capabilities.

Furthermore, The Global Good Fund has successfully launched sector-specific Fellowships, meeting the needs of the entrepreneurship market and philanthropic partners. For example, The Global Good Fund launched The Diana Davis Spencer Foundation Fellowship, a three-year Fellowship supporting the leadership capacity of 20 entrepreneurs creating jobs for Americans over 50. Fellows created 375 jobs, raised or earned $13,574,853 in follow-on funding and served over 1,000,000 American beneficiaries.

The Global Good Fund has also run a Veteran Entrepreneur Fellowship for the last two years, accelerating the business capabilities, professional growth and self-reliance of veteran Fellows, resulting in long-term impact of the veteran community. Last year, the five sponsored veteran Fellows created 94 jobs for veterans. This year, the Veteran Entrepreneur Fellowship is supporting 10 veteran Fellows.

Lastly, The Global Good Fund depends on many stakeholders who volunteer their time, expertise and financial resources to support our work. From our Board of Directors, to our leadership development coaches, to our executive mentors, and to our funders and donors, The Global Good Fund has skillfully assembled a group of active and engaged individuals and organizations around our mission to boost the leadership skills of high-potential social entrepreneurs. It is rare to see accomplished business executives commit seven months of their time to personally mentor a social entrepreneur and do so year after year. The Global Good Fund provides executives with a tangible platform to give back to the next generation of leaders. Their commitment and accessibility to our Fellows is one of the key factors of our model’s success.

Founded in 2012, The Global Good Fund has supported more than 130 social entrepreneurs from 30 countries. These entrepreneurs have created 1,830 jobs and positively impacted more than 8,500,000 lives since completing their Global Good Fund Fellowship. The Global Good Fund is proud to support its eighth cohort of social entrepreneurs in 2020. In light of COVID-19 and its potential long-term effects, The Global Good Fund is now considering an innovative, flexible strategic approach to both advance the leadership development of global social entrepreneurs and meet their immediate business needs.

Financials

THE GLOBAL GOOD FUND
Fiscal year: Jan 01 - Dec 31
Financial documents
2021 The Global Good Fund 2021 2020 GGF Audit 2020 2018 The Global Good Fund
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

4.16

Average of 15.28 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

1.7

Average of 15.2 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

13%

Average of 17% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

THE GLOBAL GOOD FUND

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

THE GLOBAL GOOD FUND

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

THE GLOBAL GOOD FUND

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of THE GLOBAL GOOD FUND’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation -$2,653,744 $2,214,104 -$361,643 $169,824 -$1,048,941
As % of expenses -128.3% 137.3% -23.3% 11.5% -42.5%
Unrestricted surplus (deficit) after depreciation -$2,653,744 $2,209,335 -$371,182 $157,368 -$1,057,542
As % of expenses -128.3% 136.6% -23.7% 10.6% -42.7%
Revenue composition info
Total revenue (unrestricted & restricted) $834,865 $3,211,714 $739,017 $1,532,281 $2,040,385
Total revenue, % change over prior year -39.7% 284.7% -77.0% 107.3% 33.2%
Program services revenue 0.0% 1.0% 0.0% 26.2% 26.9%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 3.1% 0.1% 0.1% 0.0% 0.8%
Government grants 0.0% 0.0% 0.0% 6.9% 8.0%
All other grants and contributions 97.4% 96.3% 94.1% 66.3% 63.2%
Other revenue -0.6% 2.6% 5.8% 0.5% 1.1%
Expense composition info
Total expenses before depreciation $2,069,063 $1,612,820 $1,555,300 $1,477,523 $2,466,599
Total expenses, % change over prior year 76.7% -22.1% -3.6% -5.0% 66.9%
Personnel 38.7% 39.6% 49.8% 56.8% 33.1%
Professional fees 15.8% 20.3% 15.2% 22.5% 21.3%
Occupancy 0.0% 0.0% 1.0% 1.0% 0.6%
Interest 0.0% 0.0% 0.0% 0.0% 0.1%
Pass-through 25.0% 13.7% 20.7% 6.6% 4.3%
All other expenses 20.4% 26.5% 13.3% 13.0% 40.5%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $2,069,063 $1,617,589 $1,564,839 $1,489,979 $2,475,200
One month of savings $172,422 $134,402 $129,608 $123,127 $205,550
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $14,525 $14,088 $0 $0 $0
Total full costs (estimated) $2,256,010 $1,766,079 $1,694,447 $1,613,106 $2,680,750

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 0.6 17.4 12.5 3.6 1.7
Months of cash and investments 3.5 17.5 12.8 11.8 5.8
Months of estimated liquid unrestricted net assets -2.4 13.2 10.9 12.9 2.6
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $110,409 $2,332,575 $1,614,766 $449,260 $353,584
Investments $494,961 $25,906 $41,908 $1,000,821 $844,425
Receivables $407,463 $135,279 $151,589 $512,289 $203,545
Gross land, buildings, equipment (LBE) $16,951 $31,039 $31,039 $34,929 $38,745
Accumulated depreciation (as a % of LBE) 14.3% 23.2% 53.9% 83.6% 97.5%
Liabilities (as a % of assets) 8.6% 0.8% 6.9% 11.4% 21.7%
Unrestricted net assets -$406,526 $1,802,809 $1,431,627 $1,588,995 $531,453
Temporarily restricted net assets $1,349,072 N/A N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A N/A
Total restricted net assets $1,349,072 $727,147 $275,498 $160,371 $585,945
Total net assets $942,546 $2,529,956 $1,707,125 $1,749,366 $1,117,398

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

CEO, Co-Founder

Mrs. Carrie Rich

Carrie Rich is the co-founder and CEO of The Global Good Fund. Built by and for social entrepreneurs, The Global Good Fund was created in 2013 based on the belief that growing leaders is the best strategy for solving complex social problems and achieving global good. Carrie tested the theory behind The Global Good Fund while working as Senior Director of Vision Translation at Inova Health System and teaching as an adjunct faculty member at Georgetown University. There, she co-authored Sustainability for Healthcare Management: A Leadership Imperative, a Handelsblatt's Top 5 Business Book. Carrie has been recognized as a 2018 Enterprising Women of the Year Awardee.

Number of employees

Source: IRS Form 990

THE GLOBAL GOOD FUND

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
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Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

THE GLOBAL GOOD FUND

Board of directors
as of 02/07/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Mr. Peter Page

President and CEO of Sagewater

Knox Singleton

Inova Health System

Fred Thompson

Thompson Hospitality

Jeremiah Buckley

Buckley LLP

Peter Page

SageWater

Dan Kotter

EY

Patty Obermaier

Microsoft

Rachael Watson

Burson Cohn and Wolfe

Kim Lewis

Goodwill Industries of East Texas

Carrie Rich

The Global Good Fund

Kristen Chou

Ning Solutions

Organizational demographics

SOURCE: Self-reported; last updated 4/10/2023

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

Disability

We do not display disability information for organizations with fewer than 15 staff.

Equity strategies

Last updated: 04/10/2023

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We review compensation data across the organization (and by staff levels) to identify disparities by race.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
Policies and processes
  • We use a vetting process to identify vendors and partners that share our commitment to race equity.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We have community representation at the board level, either on the board itself or through a community advisory board.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.
There are no contractors recorded for this organization.

Professional fundraisers

Fiscal year ending

SOURCE: IRS Form 990 Schedule G

Solicitation activities
Gross receipts from fundraising
Retained by organization
Paid to fundraiser