Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
GRANTHAM FOUNDATION FOR THE PROTECTION
OF THE ENVIRONMENT
Number and street (or P.O. box number if mail is not delivered to street address)C/O JEREMY GRANTHAM 40 ROWES WHARF
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BOSTON, MA02110
A Employer identification number

04-6856456
B Telephone number (see instructions)

(617) 346-7500
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$573,944,950J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 550,000
2 Check bullet.............
3 Interest on savings and temporary cash investments 241,743 241,743  
4 Dividends and interest from securities... 3,702,999 3,695,334  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 34,451,120
b Gross sales price for all assets on line 6a 102,657,207
7 Capital gain net income (from Part IV, line 2)... 34,448,818
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment -2,643,176 135,036  
12 Total. Add lines 1 through 11........ 36,302,686 38,520,931  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 61,693 0   61,693
b Accounting fees (attach schedule)....... Click to see attachment 92,000 46,000   46,000
c Other professional fees (attach schedule).... Click to see attachment 11,070,091 9,761,415   0
17 Interest............... 273,925 264,799   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 906,019 348,315   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 11,151 0   11,151
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 20,607 19,814   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 12,435,486 10,440,343   118,844
25 Contributions, gifts, grants paid....... 26,607,528 26,707,529
26 Total expenses and disbursements. Add lines 24 and 25 39,043,014 10,440,343   26,826,373
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -2,740,328
b Net investment income (if negative, enter -0-) 28,080,588
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 15,817,235 10,122,251 10,122,251
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet200,000
Less: allowance for doubtful accounts bullet0 0 200,000 200,000
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 73,494,485 Click to see attachment54,014,438 67,741,321
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 334,950,005 Click to see attachment339,732,391 470,267,610
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment4,771,905 Click to see attachment25,613,768 Click to see attachment25,613,768
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 429,033,630 429,682,848 573,944,950
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment776,659 Click to see attachment4,166,205
23 Total liabilities (add lines 17 through 22)......... 776,659 4,166,205
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 428,256,971 425,516,643
30 Total net assets or fund balances (see instructions)..... 428,256,971 425,516,643
31 Total liabilities and net assets/fund balances (see instructions). 429,033,630 429,682,848
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
428,256,971
2
Enter amount from Part I, line 27a .....................
2
-2,740,328
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
425,516,643
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
425,516,643
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a GMO EMERGING MARKETS FUND VI      
b KENSICO LTD REDEPTION      
c DEEMED SALES ON 1256 FUTURES P    
d GMO EMERGING DOMESTIC OPPORTUNITIES      
e CALL S&P P    
DOUGLAS EMMETT LIQUIDATION      
CHALKSTREAM LTD REDEMPTIONS      
CHALKSTREAM LTD J SHARES REDEMPTION      
CALL S&P P    
CALL POWERSHARES QQQ P    
CALL POWERSHARES QQQ P    
CALL ISHARES MSCI EMERGING MK P    
CALL SPDR EURO P    
TELADOC      
EDITAS MEDICINE      
MULESOFT      
FACEBOOK      
BAUPOST LIMITED PARTNERSHIP P    
SNAP INC      
BAUPOST LIMITED PARTNERSHIP P    
ANNAPOLIS ENERGY FUND VI P    
ANNAPOLIS VII P    
ARC ENERGY FUND P    
ARC ENERGY FUND P    
ARCH VENTURES FUND IX P    
ARTIMAN SPECIAL P    
ARTIMAN VENTURES 2014- LTCG P    
ATLAS VENTURE FUND IX LP P    
DISCERENE GROUP LP P    
ATLAS VENTURE FUND IX LP P    
ATLAS VENTURE X P    
ATLAS VENTURE X P    
BATTERY VENTURES X AIV I LP P    
CA RESOURCES THIRD ROCK IV P    
BATTERY VENTURES X LP P    
BATTERY VENTURES XI-A LP P    
BATTERY VENTURES XI-A SIDE FUND LP P    
BAUPOST LIMITED PARTNERSHIP P    
BAUPOST LIMITED PARTNERSHIP P    
BAUPOST LIMITED PARTNERSHIP P    
BAUPOST LIMITED PARTNERSHIP SECTION 1231 P    
BAUPOST LIMITED PARTNERSHIP SECTION 1256 P    
DISCERENE GROUP LP SECTION 1256 P    
CALL ISHARES MSCI IDX P    
DENHAM CAPITAL P    
DENHAM CAPITAL P    
DFJ VENTURE XI LP P    
DISCERENE GROUP LP P    
HIGHFIELDS IV CAPITAL SECTION 1231 P    
ICON VENTURES V P    
ENCAP ENERGY CAPITAL FUND IX LP P    
ENCAP ENERGY CAPITAL FUND IX LP P    
ENCAP ENERGY CAPITAL FUND IX LP SECTION 1231 P    
ENCAP FLATROCK MIDSTREAM FUND III LP P    
ENCAP FLATROCK MIDSTREAM FUND III LP SECTION 1231 P    
FIRSTMARK CAPITAL IV LP P    
FORMATION 8 I LP P    
FORMATION 8 I LP P    
FORMATION 8 II LP P    
FOUNDERS FUND 6 P    
FOUNDATION CAPITAL P    
FOUNDATION CAPITAL P    
FOUNDERS FUND V LP P    
FOUNDERS FUND V LP P    
GMO EMERGING DOMESTIC OPPORTUNITIES-LTCG REINVESTED      
GREYCROFT III PTRS P    
GREYCROFT III PTRS P    
GREYCROFT IV P    
GREYCROFT IV P    
HIGHFIELDS IV CAPITAL P    
INNOVATION WORKS DEVELOPMENT P    
ACCOMPLICE FUND I P    
HILLHOUSE P    
HOLTZBRINK V P    
HOLTZBRINK V P    
HOLTZBRINK VI P    
ICON VENTURES V P    
BATTERY VENTURES X SIDE FUND AIV I LP P    
RENEWABLE ENERGY ASIA FUND P    
HIGHLAND EUROPE TECH GROWTH LP P    
LEGACY VENTURE IV LLC SETION 1256 P    
NORTHBRIDGE GROWTH EQUITY II P    
NORTHBRIDGE II AIV I P    
LSVP XI P    
LSVP X P    
LSVP SELECT P    
LSVP IX P    
LSVP IX P    
LONGWOOD FUND III P    
LUX VENTURES III P    
LONGWOOD FUND II LP P    
LONE CASCADE 12146 P    
LONE CASCADE 12146 P    
LEGACY VENTURE IV LLC SECTION 1231 P    
PACIFIC ROAD P    
LEGACY VENTURE IV LLC P    
LEGACY VENTURE IV LLC P    
LAKESTAR II LP P    
LONE CASCADE 12146 SECTION 1256 P    
LUX VENTURES III P    
LSVP XI P    
LUX VENTURES IV LP P    
MORGAN STANLEY FUTURES 1256 LOSS P    
MISSIONPOINT CAPITAL PARTNERS FUND I P    
MORGAN STANLEY FUTURES -1256 LOSS      
MUCKER CAPITAL III P    
NEW EUROPE PROPERTY FUND P    
ACCOMPLICE FUND I P    
OAKTREE POWER OPPORTUNITIES PFIC GAIN DISTRIBUTION      
OVERLOOK 3G INVESTMENTS P    
WATER STREET PARTNERS SECTION 1256 P    
OVERLOOK PARTNERS P    
OVERLOOK PARTNERS P    
OWL VENTURES P    
LAKESTAR II LP P    
PACIFIC ROAD P    
RENAIISANCE INSTITUTIONAL EQUITIES FUND P    
RENAIISANCE INSTITUTIONAL EQUITIES FUND P    
RIVA CAPITAL II P    
SBC LATIN PFIC CAPITAL GAIN DISTRIBUTIONS P    
SILVER LAKE KRAFTWERK CAYMAN LP P    
SILVER LAKE KRAFTWERK DE AIV P    
SINOVATION WORKS III P    
SINOVATION WORKS III P    
SUSTAINABLE ASSET FUND LP P    
SUSTAINABLE ASSET FUND LP P    
SUSTAINABLE ASSET FUND LP SECTION 1231 P    
TARA INDIA PFIC GAIN DISTRIBUTION      
THIRD ROCK VENTURES P    
THRIVE CAPITAL PARTNERS IV P    
THRIVE CAPITAL PARTNERS V P    
THRIVE PARTNERS III LP P    
TRIBECA FUND I P    
UNDERSCORE VC ASSEMBLE P    
WATER STREET PARTNERS P    
WATER STREET PARTNERS P    
XPV WATER P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 12,228,955   10,407,792 1,821,163
b 25,571,464   9,935,923 15,635,541
c     9,570,076 -9,570,076
d 7,600,000   9,247,110 -1,647,110
e 5,531,301   4,609,789 921,512
9,324,846   2,978,538 6,346,308
1,887,594   2,383,938 -496,344
2,934,233   2,349,999 584,234
1,530,943   1,489,774 41,170
2,425,080   888,389 1,536,691
1,761,129   879,935 881,194
113,605   692,020 -578,415
3,903   53,000 -49,097
125,615   38,458 87,157
292,594   36,637 255,957
37,980   10,598 27,382
120,576   6,773 113,803
      0
2,393,329   1,245 2,392,084
      0
      -459,114
      -17,239
      -44,253
      -18,807
1,810     1,810
      -1,294
      -881
3,428     3,428
      -16,057
1,434,255     1,434,255
65,665     65,665
609,303     609,303
219,978     219,978
      -24,633
      -95,633
925,047     925,047
4     4
2,065,243     2,065,243
8,475   8,475 0
594,457     594,457
41,821     41,821
419,636     419,636
      -28
      -270,586
2,116     2,116
      -378,214
29,915     29,915
      -4,681
39,669     39,669
      -10,832
4,029     4,029
379,849     379,849
      -54,716
1,912,350     1,912,350
32,217     32,217
      -1,735
2,057     2,057
64,538     64,538
21,911     21,911
      -454
12,015     12,015
319     319
      -23,677
      -18,255
      896,094
295,559     295,559
      -1,750
      -8,449
      -30
      -454,965
277,632     277,632
11,869     11,869
11,503     11,503
      -584,673
      -53,495
22,781     22,781
      -206,208
214,479     214,479
      -8,904
2,519,486     2,519,486
      -218
1,432,105     1,432,105
5,261     5,261
      -3,881
      -94,030
337,222     337,222
1,633     1,633
      -282,252
      -172,141
      -137,511
      -694,418
1,212,552     1,212,552
      -268,331
      -68
388,100     388,100
2,958     2,958
528,340     528,340
87     87
5,437     5,437
      -982
140,563     140,563
      -2,561
      0
13     13
      -2,687,642
      -97,487
      -8,461
393     393
888,488     888,488
3,723     3,723
6,935     6,935
520,366     520,366
2,679     2,679
1,271,556     1,271,556
      -34,447
369,382     369,382
4,100,822     4,100,822
      -2,656,588
      -12,530
75,000     75,000
2,637,309     267,309
80,422     80,422
448,229     448,229
148,157     148,157
      -525,103
      -136,162
      -251,741
218,685     218,685
245,082     245,082
56,233     56,233
      -41,662
22,537     22,537
      -14,742
22,404     22,404
1,346,824     1,346,824
      -263,494
11,147     11,147
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       1,821,163
b       15,635,541
c       -9,570,076
d       -1,647,110
e       921,512
      6,346,308
      -496,344
      584,234
      41,170
      1,536,691
      881,194
      -578,415
      -49,097
      87,157
      255,957
      27,382
      113,803
      0
      2,392,084
      0
      -459,114
      -17,239
      -44,253
      -18,807
      1,810
      -1,294
      -881
      3,428
      -16,057
      1,434,255
      65,665
      609,303
      219,978
      -24,633
      -95,633
      925,047
      4
      2,065,243
      0
      594,457
      41,821
      419,636
      -28
      -270,586
      2,116
      -378,214
      29,915
      -4,681
      39,669
      -10,832
      4,029
      379,849
      -54,716
      1,912,350
      32,217
      -1,735
      2,057
      64,538
      21,911
      -454
      12,015
      319
      -23,677
      -18,255
      896,094
      295,559
      -1,750
      -8,449
      -30
      -454,965
      277,632
      11,869
      11,503
      -584,673
      -53,495
      22,781
      -206,208
      214,479
      -8,904
      2,519,486
      -218
      1,432,105
      5,261
      -3,881
      -94,030
      337,222
      1,633
      -282,252
      -172,141
      -137,511
      -694,418
      1,212,552
      -268,331
      -68
      388,100
      2,958
      528,340
      87
      5,437
      -982
      140,563
      -2,561
      0
      13
      -2,687,642
      -97,487
      -8,461
      393
      888,488
      3,723
      6,935
      520,366
      2,679
      1,271,556
      -34,447
      369,382
      4,100,822
      -2,656,588
      -12,530
      75,000
      267,309
      80,422
      448,229
      148,157
      -525,103
      -136,162
      -251,741
      218,685
      245,082
      56,233
      -41,662
      22,537
      -14,742
      22,404
      1,346,824
      -263,494
      11,147
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 34,448,818
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 23,039,006 537,135,730 0.042892
2016 20,593,910 485,933,796 0.042380
2015 22,858,679 465,848,564 0.049069
2014 19,527,739 424,357,616 0.046017
2013 19,025,024 357,721,106 0.053184
2
Total of line 1, column (d) .....................
2
0.233542
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.046708
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
586,011,392
5
Multiply line 4 by line 3......................
5
27,371,420
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
280,806
7
Add lines 5 and 6........................
7
27,652,226
8
Enter qualifying distributions from Part XII, line 4,.............
8
26,826,373
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 561,612
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 561,612
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 561,612
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 134,801
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 470,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 604,801
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 4,987
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 38,202
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet38,202 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructionsClick to see attachment.................
    12
    Yes
     
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.GRANTHAMFOUNDATION.ORG
    14
    The books are in care ofbulletJEREMY GRANTHAM Telephone no.bullet (617) 346-7500

    Located atbullet40 ROWES WHARFBOSTONMA ZIP+4bullet02110
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    JEREMY GRANTHAM TRUSTEE
    5.00     		0 0 0
    C/O GMO 40 ROWES WHARF
    BOSTON,MA02110
    HANNELORE GRANTHAM TRUSTEE
    5.00     		0 0 0
    71 MT VERNON STREET
    BOSTON,MA02108
    OLIVER GRANTHAM TRUSTEE
    0.10     		0 0 0
    1644 GREAT HIGHWAY
    SAN FRANCISCO,CA94122
    RUPERT GRANTHAM TRUSTEE
    0.10     		0 0 0
    16N MULLEN HILL ROAD
    WESTPORT,MA02790
    ISABEL GRANTHAM RAPPOPORT TRUSTEE
    0.10     		0 0 0
    42 IVALOO STREET
    SOMERVILLE,MA02143
    RAMSAY RAVENEL EXECUTIVE DIRECTOR
    40.00     		0 0 0
    C/O GMO 40 ROWES WHARF
    BOSTON,MA02110
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    CAMBRIDGE ASSOCIATES CONSULTING 1,260,153
    100 SUMMER STREET
    BOSTON,MA02110
    RAPHAEL AND RAPHAEL LLP BOOKKEEPING AND TAX PREPARATION 92,000
    52 CHURCH STREET
    BOSTON,MA02116
    ROPES AND GRAY LEGAL 61,693
    800 BOYLSTON STREET
    BOSTON,MA02199
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    28,863,808
    b
    Average of monthly cash balances.......................
    1b
    29,897,233
    c
    Fair market value of all other assets (see instructions)................
    1c
    536,174,382
    d
    Total (add lines 1a, b, and c).........................
    1d
    594,935,423
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    594,935,423
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    8,924,031
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    586,011,392
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    29,300,570
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    29,300,570
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    561,612
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    561,612
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    28,738,958
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    100,000
    5
    Add lines 3 and 4............................
    5
    28,838,958
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    28,838,958
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    26,826,373
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    26,826,373
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    26,826,373
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 28,838,958
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 24,986,742
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 26,826,373
    a Applied to 2017, but not more than line 2a 24,986,742
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 1,839,631
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2018. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		26,999,327
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018....  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    JEREMY GRANTHAM
    HANNELORE GRANTHAM
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    350 ORG
    20 JAY STREET SUITE 732
    BROOKLYN,NY11201     		N/A PC TO SUPPORT 350.ORG'S EFFORTS TO LEAD ONLINE CAMPAIGNS, ORGANIZE WORKSHOPS ANDGLOBAL MOBILIZATIONS DESIGNED TO STRENGTHEN THE GROWING GRASSROOTS MOVEMENT WORKING FORNATIONAL AND INTERNATIONAL ACTION ON CLIMATE CHANGE 350,000
    ACADIA CENTER
    8 SUMMER STREET
    ROCKPORT,ME04856     		N/A PC GENERAL SUPPORT 10,000
    AMERICAN ASSOCIATION FOR THE ADVANCEMENT OF SCIENCE
    1200 NEW YORK AVE NW
    WASHINGTON,DC20005     		N/A PC GRASSROOTS 200,000
    BURN DESIGN LAB
    18850 103RD AVE SW SUITE 220
    VASHON,WA98070     		N/A PC RESIDENTIAL COOKSTOVES 255,050
    CALIFORNIA INSTITUTE OF TECHNOLOGY
    1200 E CALIFORNIA BLVD
    PASADENA,CA91125     		N/A PC METHANE 1,440,974
    CARBON TRACKER INITIATIVE
    300 PARK AVENUE 12TH FLOOR
    NEW YORK,NY10022     		N/A PC PROJECT SUPPORT FOR CLIMATE WORK 500,000
    CERES INC
    99 CHAUNCY STREET 6TH FLOOR
    BOSTON,MA02111     		N/A PC CA100 CAMPAIGN 100,000
    CLIMATE AND HEALTH RESEARCH NETWORK
    269 WHITE ROAD
    BOWDOWNHAM,ME04008     		  PC PROJECT SUPPORT FOR CARBON LIMITS 250,000
    CLIMATE SCIENCE LEGAL DEFENSE FUND
    475 RIVERSIDE DRIVE SUITE 244
    NEW YORK,NY10115     		N/A PC PROGRAM SUPPORT 50,000
    CLIMATEWORKS FOUNDATION
    235 MONTGOMERY ST STE 1300
    SAN FRANCISCO,CA94104     		N/A PC GENERAL SUPPORT AND FUNDERS TABLE 450,000
    COMMUNITY FOUNDATION OF SOUTHEASTERN MASSACHUSETTS INC (DAF)
    128 UNION STREET SUITE 403
    NEW BEDFORD,MA02740     		N/A PC SUPPORT OF SE MASS ENVIRONMENTAL PROGRAMS 75,000
    CONSERVATION LAW FOUNDATION
    62 SUMMER STREET
    BOSTON,MA02110     		N/A PC CORPORATE ACCOUNTABILITY 250,000
    ENVIRONMENTAL DEFENSE FUND INCORPORATED
    257 PARK AVENUE SOUTH 17TH FLOOR
    NEW YORK,NY10010     		N/A PC CHINA, MOM'S CLEAN AIR FORCE, METHANE 1,353,000
    ENVIRONMENTAL LEAGUE OF MASSACHUSETTS INC
    15 COURT SQUARE SUITE 1000
    BOSTON,MA02108     		N/A PC PROGRAM SUPPORT TO BOSTON YOUTH INVOLVED IN CLIMATE 80,000
    GREENPEACE FUND INC
    702 H STREET NW SUITE 300
    WASHINGTON,DC20001     		N/A PC PROGRAM SUPPORT 190,000
    HEALTH IN HARMONY INC
    3804 SE BELMONT STREET
    PORTLAND,OR97214     		N/A PC TRAIN FARMERS IN SUSTAINABLE ORGANIC AGRICULTURE 10,000
    IMPERIAL COLLEGE
    SOUTH KENSINGTON CAMPUS EXHIBITION
    ROAD
    LONDON   SW7 2AZ
    UK     		N/A FOREIGN UNIVERSITY GRANTHAM INSTITUTE 2,217,976
    INNOVATION NETWORK FOR COMMUNITIES (BOSTON GREEN RIBBON)
    156 GROVER LANCE
    TAMWORTH,NH03886     		N/A PC GREEN RIBBON COMMISSION 150,000
    LINDEN TRUST FOR CONSERVATION
    156 WEST 56TH STREET SUITE 1100
    NEW YORK,NY10019     		N/A POF CARBON REMOVAL 655,000
    LIVING ON EARTH
    PO BOX 990007 PRUDENTIAL STATION
    BOSTON,MA02199     		N/A PC RADIO PROGRAM 70,000
    LONDON SCHOOL OF ECONOMICS
    HOUGHTON STREET
    LONDON   WC2A 2AE
    UK     		N/A FOREIGN UNIVERSITY GRANTHAM INSTITUTE 2,347,330
    LOST LIGHTS PROJECTS INC
    16 COURT STREET SUITE 2307
    BROOKLYN,NY11241     		N/A PC REPORTING NETWORK AND JOURNALISM 500,000
    MASSACHUSETTS INSTITUTE OF TECH
    77 MASSACHUSETTS AVE 49-3
    CAMBRIDGE,MA02139     		N/A PC BIOINSTURMENTATION LAB 406,000
    METAFOUNDATION
    8726 S SEPULVEDA BOULEVARD SUITE D
    612
    LOS ANGELES,CA90045     		N/A PC CLIMATE CHANGE 100,000
    NEW ENGLAND FORESTRY FOUNDATION INC
    32 FOSTER STREET
    LITTLETON,MA01460     		N/A PC BUILD IT WITH WOOD PROJECT 120,000
    NEXTGEN CLIMATE AMERICA INC
    111 SUTTER STREET 10TH FLOOR
    SAN FRANCISCO,CA94104     		N/A PC CLIMATE 500,000
    OXFAM AMERICA INC
    226 CAUSEWAY STREET 5TH FLOOR
    BOSTON,MA02114     		N/A PC ENERGY AND CLIMATE CHANGE 200,000
    PENNSYLVANIA STATE UNIVERSITY
    ONE OLD MAIN
    UNIVERSITY PARK,PA16802     		N/A PC DAIRY NUTRITION PROGRAM SUPPORT 149,331
    PENNSYLVANIA STATE UNIVERSITY
    ONE OLD MAIN
    UNIVERSITY PARK,PA16802     		  PC DAIRY NUTRITION PROGRAM SUPPORT 10,000
    RAINFOREST ACTION NETWORK
    425 BUSH STREET STE 300
    SAN FRANCISCO,CA94108     		N/A PC CLIMATE CHANGE 25,000
    RENSSELEAR POLYTECHNIC INSTITUTE
    110 8TH ST
    TROY,NY12180     		  PC MOLECULAR MODELING 507,908
    ROCKEFELLER FAMILY FUND (DAF)
    475 RIVERSIDE DRIVE SUITE 900
    NEW YORK,NY10115     		N/A PC CLIMATE EDUCATION FUND 1,000,000
    ROCKY MOUNTAIN INSTITUTE
    2490 JUNCTION PLACE SUITE 200
    BOULDER,CO80302     		N/A PC TRANSFORMATIVE MOBILITY SOLUTION 2,250,000
    RODALE INSTITUTE
    611 SIEGFRIEDALE RD
    KUTZTOWN,PA19530     		N/A PC EVALUATING LONG TERM ORGANIC AND CONVENTIONAL FARMING EFFECTS ON NUTRIENT DENSITY OF SMALL GRAINS 20,000
    S CAROLINA COASTAL CONSERVATION LEAGUE
    131 SPRING STREET
    CHARLESTON,SC29403     		N/A PC GENERAL SUPPORT 10,000
    SAVANNA INSTITUTE
    1360 REGENT ST 124
    MADISON,WI53715     		N/A PC HAZELNUT PROJECT 160,000
    SIERRA CLUB
    2101 WEBSTER STREET SUITE 1300
    OAKLAND,CA94612     		N/A PC SUPPORT ENDING USE OF COAL TO GENERATE ELECTRICITY 150,000
    STICHTING EUROPEAN CLIMATE FOUNDATION
    RIVIERVISMARKT 52513 AM
    DEN HAAG   2513 AM
    NL     		N/A FOREIGN CHARITY GSCC CORE SUPPORT 3,000,000
    SUSTAINABLE MARKETS FOUNDATION
    JAY R HALFON 45 W 36TH ST 6TH FLOOR
    NEW YORK,NY10018     		N/A PC CLIMATE CHANGE 170,000
    THE CENTER FOR CARBON REMOVAL (CARBON 180)
    1111 BROADWAY FLOOR 3
    OAKLAND,CA94607     		  PC TO ADVANCE SOLUTIONS THAT TRANSFORM CARBON FROM A POLLUTANT TO A RESOURCE. 50,000
    THE CENTER FOR PUBLIC INTEGRITY
    910 17TH STREET NW 7TH FLOOR
    WASHINGTON,DC20006     		N/A PC INVESTIGATIVE JOURNALISM 500,000
    THE CLIMATE FOUNDATION
    3 LITTLE HARBOR ROAD
    WOODS HOLE,MA02543     		N/A PC MARINE PERMACULTURE 250,000
    THE ENERGY FOUNDATION
    301 BATTERY STREET 5TH FLOOR
    SAN FRANCISCO,CA94111     		N/A PC RE-GRANTING 2,327,778
    UNION OF CONCERNED SCIENTISTS INC
    2 BRATTLE SQUARE 6TH FLOOR
    CAMBRIDGE,MA02138     		N/A PC SUPPORT CLIMATE ACCOUNTABILITY CAMPAIGN; FOOD AND ENVIRONMENT PROGRAM 900,000
    UNIVERSITY OF MICHIGAN
    500 S STATE ST
    ANN ARBOR,MI48109     		N/A PC GLOBAL CO2 40,000
    UNIVERSITY OF SHEFFIELD
    WESTERN BANK
    SHEFFIELD,SOUTH YORKSHIRES10 2TN
    UK     		N/A FOREIGN UNIVERSITY GRANTHAM INSTITUTE 1,738,688
    WGBH EDUCATIONAL FOUNDATION
    ONE GUEST STREET
    BOSTON,MA02135     		N/A PC THE WORLD DESK PROGRAM 125,000
    WILD AID
    44 MONTGOMERY STREET SUITE 300
    SAN FRANCISCO,CA94111     		N/A PC PROGRAM SUPPORT FOR CHINA ENERGY AND AFRICAN WILDLIFE 400,000
    WOODS HOLE RESEARCH CENTER INC
    149 WOODS HOLE ROAD
    FALMOUTH,MA02540     		N/A PC GENERAL SUPPORT FOR WOODS HOLE RESEARCH CENTER 25,000
    YALE UNIVERSITY
    POBOX 2038
    NEW HAVEN,CT06521     		N/A PC SPAGNUM CARBON PROJECT 62,500
    Total .................................bullet 3a 26,701,535
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 241,743  
    4 Dividends and interest from securities.... 900000 7,508 14 3,695,491  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income..... 900000   14 135,036  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		900000 2,302 14 34,448,818  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aUBTI FROM PASSTHROUGHTS     		900000 -2,778,212      
    bOTHER INCOME FROM PASSTHROUGHS     14    
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. -2,768,402 38,521,088 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    35,752,686
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2018
    Name of the organization
    GRANTHAM FOUNDATION FOR THE PROTECTION
    OF THE ENVIRONMENT
    Employer identification number

    04-6856456
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    GRANTHAM FOUNDATION FOR THE PROTECTION
    OF THE ENVIRONMENT         		Employer identification number
    04-6856456
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    ARJUN DIVECHA  
    1612 BRET HARTE ROAD
     
    BERKELEY, CA94708

    		$ 300,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    GRANTHAM FOUNDATION FOR THE PROTECTION
    OF THE ENVIRONMENT         		Employer identification number

    04-6856456
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    GRANTHAM FOUNDATION FOR THE PROTECTION
    OF THE ENVIRONMENT         		Employer identification number

    04-6856456
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2018 AccountingFeesSchedule
    Name:
    GRANTHAM FOUNDATION FOR THE PROTECTION
     
    OF THE ENVIRONMENT
    EIN:
    04-6856456
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES - TAX AND BOOKKEEPING 92,000 46,000   46,000

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2018 ExpenditureResponsibilityStmt
    Name:
    GRANTHAM FOUNDATION FOR THE PROTECTION
     
    OF THE ENVIRONMENT
    EIN:
    04-6856456
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    LONDON SCHOOL OF ECONOMICS
          		HOUGHTON STREET
    LONDON   EC2A 2AE
    UK     		2018-10-30 2,347,330 GENERAL SUPPORT FOR THE GRANTHAM RESEARCH INSTITUTE ON CLIMATE CHANGE   NONE 04/2/2019   THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE GRANTEE; THERE
    IMPERIAL COLLEGE
          		SOUTH KENSINGTON CAMPUS EXHIBITION
    ROAD
    LONDON   SW7 2AZ
    UK     		2018-05-25 2,217,976 TO CARRY OUT MULTIDISCIPLINARY RESEARCH ON CLIMATE CHANGE AND ITS IMPACT; INFLUENCING PUBLIC AND PRIVATE POLICY GLOBALLY, BY THE ACTIVE ENGAGEMENT OF THE COLLEGE'S EXISTING CENTRE FOR ENVIRONMENTAL POLICY; PROVIDE TRAINING FOR PHD STUDENTS THAT WILL ENHANCE UK LEVELS OF TECHNICAL EXPERTISE IN CLIMATE CHANGE   NONE 04/1/2019   THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE GRANTEE; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORT WAS MADE.
    UNIVERSITY OF SHEFFIELD
          		WESTERN BANK
    SHEFFIELD   S10 2TN
    UK     		2018-09-06 1,738,688 TO CREATE THE CENTRE FOR SUSTAINABLE FUTURES UNDER THE UMBRELLA OF PROJECT SUNSHINE AND TWO COHORTS OF GRANTHAM SCHOLARS. THE SCHOLARS WILL FOLLOW A PHD PROGRAM FOCUSED ON RESEARCH PROJECTS THAT TACKLE CHALLENGES ON SUSTAINABILITY IN INNOVATIVE WAYS.   NONE 04/04/2019   THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE GRANTEE; THERE
    STICHTING EUROPEAN CLIMATE
          		RIVIERVISMARKT 5
    DEN HAAG   2513 AM
    NL     		2018-07-27 100,000 GENERAL SUPPORT FOR PIE PROGRAM AND PROGRAM SUPPORT   NONE 09/20/2019   THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE GRANTEE; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORT WAS MADE.
    STICHTING EUROPEAN CLIMATE
          		RIVIERVISMARKT 5
    DEN HAAG   2513 AM
    NL     		2018-09-07 2,000,000 GENERAL SUPPORT FOR PIE PROGRAM AND PROGRAM SUPPORT   NONE 09/20/2019   THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE GRANTEE; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORT WAS MADE.
    STICHTING EUROPEAN CLIMATE
          		RIVIERVISMARKT 5
    DEN HAAG   2513 AM
    NL     		2018-12-20 900,000 GENERAL SUPPORT FOR PIE PROGRAM AND PROGRAM SUPPORT   NONE 09/20/2019   THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE GRANTEE; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORT WAS MADE.

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    GRANTHAM FOUNDATION FOR THE PROTECTION
     
    OF THE ENVIRONMENT
    EIN:
    04-6856456
    Name of Stock End of Year Book Value End of Year Fair Market Value
    BERKELEY ENERGY WIND MAURITIUS LTD 2,452,453 1,619,508
    CHALKSTREAM INVESTMENT FUND (INTERNATIONAL),LTD 1,972,886 2,961,968
    CHALKSTREAM INVESTMENT FUND (INTL),LTD-CLASS J SHARES 2,350,001 2,516,765
    ELLIOTT INTERNATIONAL LIMITED 11,384,557 25,259,200
    KENSICO OFFSHORE FUND LTD 64,077 6,264
    LONE PINON, LTD. 422,000 2,655,346
    LONE SAVIN, LTD. 5,000,000 5,921,271
    NUCLEUS SCIENTIFIC 6,064,219 6,064,219
    OAKTREE POWER OPPORTUNITIES FUND III (CAYMAN), L.P. 1,720,944 823,766
    ORION MINE FINANCE (BERMUDA) FUND I LP 6,003,870 7,182,029
    SBC CAYMAN FUND II, LP 4,718,493 3,756,860
    SNAP INC 63,699 958,817
    SUN VALLEY GOLD INTERNATIONAL, LTD. 6,000,000 2,875,305
    TELADOC INC 45,717 223,511
    ZOOX INC 1,000,000 1,000,000
    CALL ISHARES MSCI EMERGING 356,164 356,164
    CALL STANDARD & POORS 314,570 314,570
    CALL ISHARES MSCI CHINA ETF 3,992,230 3,157,200
    CALL POWERSHARES QQQ TR 88,558 88,558

    TY 2018 InvestmentsOtherSchedule2
    Name:
    GRANTHAM FOUNDATION FOR THE PROTECTION
     
    OF THE ENVIRONMENT
    EIN:
    04-6856456
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ACCOMPLICE FUND I LP AT COST 3,334,408 3,991,848
    AFRICA FORESTRY FUND II LIMITED AT COST 23,822 329
    AFRICA SUSTAINABLE FORESTRY PARTNERS II LLC AT COST 3,403 3,403
    AIRDRIE PARTNERS I LP AT COST 16,218,433 1,491,472
    ALEPH LP AT COST 2,875,634 4,358,920
    ALEPH II LP AT COST 1,069,296 1,063,569
    ALPINA PARTNERS FUND LP AT COST 1,135,342 1,984,394
    ANNAPOLIS INVESTMENT (US) LIMITED PARTNERSHIP VI AT COST 7,493,534 6,166,923
    ANNAPOLIS INVESTMENT (US) LIMITED PARTNERSHIP VII AT COST 2,220,795 3,533,814
    ARC ENERGY FUND 7 US LIMITED PARTNERSHIP AT COST 6,693,851 5,955,267
    ARCH VENTURE FUND IX LP AT COST 2,222,348 3,935,935
    ARCH VENTURE FUND X LP AT COST 27,958 26,528
    ARCH VENTURE FUND X OVERAGE LP AT COST 13,695 12,676
    ARTIMAN VENTURES 2014 LP AT COST 2,431,643 2,499,451
    ARTIMAN VENTURES SELECT 2014 LP AT COST 1,853,890 1,091,748
    ARTIMAN VENTURES SPECIAL OPPORTUNITIES FUND LP AT COST 3,407,313 1,189,141
    ASF BELGIUM SPRL AT COST 5,627,245 6,229,236
    ATLAS VENTURE FUND IX LP AT COST 3,860,859 6,894,816
    ATLAS VENTURE FUND X LP AT COST 3,631,577 9,901,570
    BATTERY VENTURES X LP AT COST 3,023,570 2,855,586
    BATTERY VENTURES X AIV I LP AT COST 211,828 358,014
    BATTERY VENTURES X SIDE FUND LP AT COST 1,107,823 944,272
    BATTERY VENTURES X SIDE FUND AIV I LP AT COST 7,868 149,309
    BATTERY VENTURES XI-A LP AT COST 2,484,379 2,486,311
    BATTERY VENTURES XI-A SIDE FUND AIV LP AT COST 323,560 323,560
    BATTERY VENTURES XI-A AIV LP AT COST 826,697 826,697
    BATTERY VENTURES XI-A SIDE FUND LP AT COST 868,948 869,495
    BAUPOST VALUE PARTNERS, L.P. - III AT COST 18,047,001 17,869,247
    CRITERION AFRICA PARTNERS AT COST 1,000,033 1,000,033
    DENHAM COMMODITY PARTNERS FUND VI-A LP AT COST 4,608,259 4,817,772
    DFJ VENTURE XI, L.P. AT COST 2,151,066 3,712,571
    DFJ VENTURE XII, L.P. AT COST 1,682,924 2,141,619
    DISCERNE FUND LP AT COST 1,052,104 1,052,340
    ECLIPSE CONTINUITY FUND I, LP AT COST 648,390 754,463
    ECLIPSE FUND II, LP AT COST 1,019,264 2,187,784
    ENCAP ENERGY CAPITAL FUND IX, LP AT COST 4,815,785 5,194,245
    ENCAP FLATROCK MIDSTREAM FUND III, LP AT COST 4,386,144 6,715,342
    FIRST MARK CAPITAL III LP AT COST 3,952,255 6,561,592
    FIRST MARK CAPITAL IV LP AT COST 679,226 766,604
    FIRSTMARK CAPITAL OF II, LP AT COST 1,235,449 1,220,521
    FLAGSHIP VENTURES FUND V, L.P. AT COST 4,331,898 12,431,507
    FLAGSHIP PIONEERING FUND VI LP AT COST 1,113,793 1,403,344
    FORMATION8 PARTNERS FUND I LP AT COST 2,934,846 9,164,679
    FORMATION8 PARTNERS FUND II LP AT COST 3,775,458 5,220,564
    FOUNDATION CAPITAL VIII LP AT COST 2,036,470 3,473,094
    THE FOUNDERS FUND V, LP AT COST 4,105,597 10,138,659
    THE FOUNDERS FUND VI, LP AT COST 2,233,264 2,419,701
    GEF AFRICA SUSTAINABLE FORESTRY FUND, LP AT COST 1,939,403 2,066,876
    GENAGRO LTD AT COST 249,478 135,135
    GMO MUTUAL FUNDS AT COST 6,232,637 5,659,553
    GREYCROFT PARTNERS III, LP AT COST 2,279,926 3,498,862
    GREYCROFT PARTNERS IV, LP AT COST 2,510,497 2,877,254
    HIGHFIELDS CAPITAL IV LP AT COST 239,426 188,856
    HIGHLAND EUROPE TECHNOLOGY GROWTH LP AT COST 4,684,277 8,099,625
    HIGHLAND EUROPE TECHNOLOGY GROWTH II LP AT COST 4,488,678 5,899,261
    HIGHLAND EUROPE TECHNOLOGY GROWTH III LP AT COST 429,714 369,976
    HILLHOUSE FUND IV LP AT COST 101,147 108,736
    HV HOLTZBRINCK VENTURES FUND VII FEEDER LIMITED AT COST 185,080 183,712
    HV HOLTZBRINCK VENTURES FUND V FEEDER LIMITED AT COST 3,325,328 5,443,844
    HV HOLTZBRINCK VENTURES CO-INVEST I FEEDER LIMITED AT COST 971,200 1,055,555
    HV HOLTZBRINCK VENTURES FUND VI SCS AT COST 2,707,472 2,038,821
    ICON VENTURES V, L.P. AT COST 2,531,534 2,541,846
    INTELLIA AT COST 87,335 505,937
    INNOVATION WORKS DEVELOPMENT FUND II, L.P. AT COST 3,594,740 11,349,873
    LAKESTAR II LP AT COST 4,059,019 4,606,140
    LEGACY VENTURE IV, LLC AT COST 3,666,538 8,007,937
    LIGHTSPEED VENTURE PARTNERS XI LP AT COST 2,339,536 2,835,445
    LIGHTSPEED VENTURE PARTNERS IX, L.P AT COST 5,290,061 11,078,149
    LIGHTSPEED VENTURE PARTNERS SELECT, L.P. AT COST 1,393,074 2,034,428
    LIGHTSPEED VENTURE PARTNERS X, LP AT COST 4,324,991 6,764,489
    LIGHTSPEED VENTURE PARTNERS SELECT II, L.P AT COST 869,724 1,124,804
    LONE CASCADE LP AT COST 2,539,457 1,808,473
    LONG WOOD FUND III LP AT COST 1,406,190 1,311,535
    LONGWOOD FUND II LP AT COST 1,056,400 1,946,465
    LUX VENTURES III, LP AT COST 2,185,016 4,556,044
    LUX VENTURES IV LP AT COST 3,552,143 7,457,022
    LUX VENTURES V LP AT COST 1,006,666 1,233,568
    MISSIONPOINT AEROFARMS COINVEST FUND, LP AT COST 466,350 1,272,796
    MISSIONPOINT CAPITAL PARTNERS FUND I, L.P. AT COST 94,312 166,940
    MISSIONPOINT RE COMMUNITY COINVEST FUND, LP AT COST 123,048 108,354
    MP STARLING IMPACT HOLDINGS LLC AT COST 100,260 100,260
    MUCKER III, L.P. AT COST 2,290,514 6,122,897
    MYOCARDIA AT COST 24,244 322,329
    NCH NEW EUROPE PROPERTY FUND II, L.P. AT COST 11,327,181 6,884,838
    NBGE II (ER) AIV I LP AT COST 271,092 266,686
    NORTH BRIDGE GROWTH EQUITY II, LP AT COST 5,369,376 8,753,647
    OLDFIELD PARTNERS DODDINGTON EMERGING MARKETS AT COST 5,000,000 5,000,000
    OVERLOOK 3G INVESTMENTS, L.P. AT COST 2,417,161 2,853,961
    THE OVERLOOK PARTNERS FUND L.P. AT COST 10,768,154 12,181,441
    OWL VENTURES AT COST 4,825,513 7,738,094
    PACIFIC ROAD RESOURCES FUND II L.P. AT COST 3,011,446 3,026,603
    PATAGONIA SUR LLC AT COST 115,007 115,007
    RENAISSANCE INSTITUTIONAL EQUITIES FUND LLC AT COST 9,972,565 25,837,535
    RENEWABLE ENERGY ASIA FUND LP AT COST 1,315,366 1,389,645
    RENEWABLE ENERGY ASIA FUND II LP AT COST 2,074,272 2,878,327
    RINCON VENTURE PARTNERS III, L.P. AT COST 2,823,365 4,866,371
    RIVA CAPITAL PARTNERS II LP AT COST 139,533 161,568
    SALESFORCE.COM AT COST 99,313 112,178
    SINOVATION FUND III, L.P. AT COST 2,539,582 5,203,941
    SINOVATION FUND IV, L.P. AT COST 1,156,697 1,214,744
    SILVER LAKE KRAFTWERK FUND, L.P. AT COST 3,731,600 4,049,738
    SILVER LAKE KRAFTWERK FUND CAYMAN, L.P. AT COST 2,083,012 2,017,866
    6A SILVER LAKE KRAFTWERK DE AIV, L.P. AT COST 976,258 1,191,902
    SPOTIFY TECHNOLOGY AT COST 72,067 332,328
    SUSA VENTURES II, L.P. AT COST 1,970,943 2,300,701
    SUSTAINABLE ASSET FUND, LP &II, LP AT COST 25,727,500 41,001,678
    TARA INDIA FUND III, LLC AT COST 7,513,378 2,567,354
    TECHNOLOGY IMPACT FUND LP AT COST 885,446 1,444,854
    THE ENGINE ACCELERATOR FUND I, L.P. AT COST 329,553 326,091
    THIRD ROCK VENTURES III, L.P. AT COST 3,441,669 5,446,545
    CA RESOURCES FUND (US TAX EXEMPT) LP THIRD ROCK IV AT COST 2,584,084 3,119,499
    THRIVE CAPITAL PARTNERS III, L.P. AT COST 2,294,245 11,485,163
    THRIVE CAPITAL PARTNERS IV AND SUPPLEMENTAL FUND, LP AT COST 2,769,255 6,091,208
    THRIVE CAPITAL PARTNERS V, L.P. AT COST 1,908,031 4,198,067
    TRIBECA VENTURE FUND I, L.P. AT COST 2,066,388 3,921,397
    TRIBECA VENTURE FUND II, L.P. AT COST 1,570,050 3,991,755
    UNDERSCORE.VC FUND I, L.P. AT COST 1,765,162 2,148,768
    VOYAGER AT COST 123,632 273,446
    WATER STREET PARTNERS, LTD. AT COST 854,324 968,316
    XPV WATER FUND II LIMITED PARTNERSHIP AT COST 1,626,860 2,243,819
    ZSCALER INC AT COST 58,951 390,767

    TY 2018 LegalFeesSchedule
    Name:
    GRANTHAM FOUNDATION FOR THE PROTECTION
     
    OF THE ENVIRONMENT
    EIN:
    04-6856456
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL 61,693 0   61,693


    TY 2018 OtherAssetsSchedule
    Name:
    GRANTHAM FOUNDATION FOR THE PROTECTION
     
    OF THE ENVIRONMENT
    EIN:
    04-6856456
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    DISTRIBUTION RECEIVABLE FROM LIMITED PARTNERSHIPS 4,770,905 25,612,768 25,612,768
    RECEIVABLE FROM RELATED PARTY 1,000 1,000 1,000


    TY 2018 OtherExpensesSchedule
    Name:
    GRANTHAM FOUNDATION FOR THE PROTECTION
     
    OF THE ENVIRONMENT
    EIN:
    04-6856456
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MISCELLANEOUS 793 0   0
    NONDEDUCTIBLE EXPENSES FROM PASSTHROUGH ENTITIES 19,804 19,804   0
    SECTION 179 EXPENSE 10 10   0


    TY 2018 OtherIncomeSchedule2
    Name:
    GRANTHAM FOUNDATION FOR THE PROTECTION
     
    OF THE ENVIRONMENT
    EIN:
    04-6856456
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INCOME FROM PASSTHROUGH ENTITIES 133,537 133,537 133,537
    UBI FROM PASSTHROUGH ENTITIES 0 0 0
    MISCELLANEOUS INCOME 1,499 1,499 1,499
    UBTI FROM PASSTHROUGHTS -2,778,212   -2,778,212


    TY 2018 OtherLiabilitiesSchedule
    Name:
    GRANTHAM FOUNDATION FOR THE PROTECTION
     
    OF THE ENVIRONMENT
    EIN:
    04-6856456
    Description Beginning of Year - Book Value End of Year - Book Value
    CAPITAL CONTRIBUTION PAYABLE 4,952 4,952
    RELATED PARTY PAYABLE 15,244 1,479,508
    OPEN TRADE EQUITY -FUTURES ACCOUNTS 756,463 2,681,745


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    GRANTHAM FOUNDATION FOR THE PROTECTION
     
    OF THE ENVIRONMENT
    EIN:
    04-6856456
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADVISORY FEES 1,297,443 1,297,443   0
    PORTFOLIO FEES FROM K-1 INVESTMENTS 9,772,648 8,463,972   0


    TY 2018 TaxesSchedule
    Name:
    GRANTHAM FOUNDATION FOR THE PROTECTION
     
    OF THE ENVIRONMENT
    EIN:
    04-6856456
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE TAX EXPENSE 7,704 0   0
    FOREIGN TAXES FROM PASSTHROUGH ENTITIES 343,008 343,008   0
    FEDERAL EXCISE TAXES 550,000 0   0
    FOREIGN TAXES 5,307 5,307   0