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
2019
Open to Public Inspection
For calendar year 2019, or tax year beginning 01-01-2019 , and ending 12-31-2019
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)CO 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$639,632,452J 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) 460,100
2 Check bullet.............
3 Interest on savings and temporary cash investments 659,992 659,992  
4 Dividends and interest from securities... 3,662,504 3,657,974  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 32,024,328
b Gross sales price for all assets on line 6a 67,796,767
7 Capital gain net income (from Part IV, line 2)... 32,025,095
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 1,181,191 1,181,191  
12 Total. Add lines 1 through 11........ 37,988,115 37,524,252  
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 43,040 0   43,040
b Accounting fees (attach schedule)....... Click to see attachment 40,000 20,000   20,000
c Other professional fees (attach schedule).... Click to see attachment 10,819,499 9,592,705   0
17 Interest............... 428,776 422,747   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 1,327,664 291,762   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 4,020 0   4,020
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 29,031 29,006   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 12,692,030 10,356,220   67,060
25 Contributions, gifts, grants paid....... 29,120,713 29,120,713
26 Total expenses and disbursements. Add lines 24 and 25 41,812,743 10,356,220   29,187,773
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -3,824,628
b Net investment income (if negative, enter -0-) 27,168,032
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2019)
Form 990-PF (2019)
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......... 10,122,251 23,106,358 23,106,358
3 Accounts receivable bullet4,275,572
Less: allowance for doubtful accounts bullet     4,275,572  
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) bullet1,192,967
Less: allowance for doubtful accounts bullet0 200,000 1,192,967 1,192,967
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)....... 54,014,438 Click to see attachment36,033,450 48,448,947
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).......... 339,732,391 Click to see attachment353,170,625 566,869,105
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment25,613,768 Click to see attachment5,416,538 Click to see attachment15,075
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 429,682,848 423,195,510 639,632,452
Liabilities 17 Accounts payable and accrued expenses..........   900,000
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 attachment4,166,205 Click to see attachment603,495
23 Total liabilities (add lines 17 through 22)......... 4,166,205 1,503,495
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 425,516,643 421,692,015
29 Total net assets or fund balances (see instructions)..... 425,516,643 421,692,015
30 Total liabilities and net assets/fund balances (see instructions). 429,682,848 423,195,510
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
425,516,643
2
Enter amount from Part I, line 27a .....................
2
-3,824,628
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
421,692,015
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 29 .
6
421,692,015
Form 990-PF (2019)
Form 990-PF (2019)
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 ACCOMPLICE FUND I P    
b ACCOMPLICE FUND I P    
c ALEPH LP P    
d ALPINA P    
e ANNAPOLIS ENERGY FUND VI P    
ARCH VENTURES FUND IX P    
ARTIMAN VENTURES 2014 LP P    
ARTIMAN VENTURES 2014 LP P    
ARTIMAN VENTURES SELECT 2014 LP P    
ARTIMAN VENTURES SELECT 2014 LP P    
ARTIMAN SPECIAL P    
ARTIMAN SPECIAL P    
ATLAS VENTURE X P    
ATLAS VENTURE X P    
ATLAS VENTURE FUND IX LP P    
ATLAS VENTURE FUND IX LP P    
ATLAS VENTURE FUND IX LP P    
BATTERY VENTURES X LP P    
BATTERY VENTURES X LP P    
BATTERY VENTURES X SIDE FUND LP P    
BATTERY VENTURES XI-A 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-SECTION 1231 P    
BAUPOST LIMITED PARTNERSHIP-SECTION 1256 P    
BAUPOST LIMITED PARTNERSHIP P    
BAUPOST LIMITED PARTNERSHIP P    
BAUPOST LIMITED PARTNERSHIP-SECTION 1231 P    
CHALKSTREAM LTD REDEMPTIONS      
CHALKSTREAM LTD J SHARES REDEMPTION      
DEEMED SALES ON 1256 FUTURES P    
DENHAM CAPITAL P    
DENHAM CAPITAL P    
DISCERENE GROUP LP P    
DISCERENE GROUP LP P    
DISCERENE GROUP LP-SECTION 1256 P    
DODDINGTON EMERGING MARKETS FUND P    
ECLIPSE FUND I LP P    
ECLIPSE FUND II P    
ECLIPSE FUND II 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 III LP P    
FIRSTMARK CAPITAL IV LP P    
FIRSTMARK CAPITAL IV LP P    
FLAGSHIP VENTURES V LP P    
FLAGSHIP VENTURES V LP P    
FORMATION 8 I LP P    
FORMATION 8 I LP P    
FORMATION 8 II LP P    
FOUNDATION CAPITAL P    
FOUNDATION CAPITAL P    
FOUNDERS FUND V LP P    
FOUNDERS FUND V LP P    
FOUDNERS FUND 6 P    
FOUDNERS FUND 6 P    
GEF AFRICA P    
GREYCROFT III PTRS P    
GREYCROFT III PTRS P    
GREYCROFT IV P    
GREYCROFT IV P    
HIGHFIELDS IV CAPITAL P    
HIGHLAND EUROPE TECH GROWTH LP P    
HIGHLAND EUROPE TECH GROWTH II LP P    
HILLHOUSE P    
HOLTZBRINK V P    
HOLTZBRINK VI P    
HOLTZBRINK VII P    
ICON VENTURES V P    
INNOVATION WORKS DEVELOPMENT P    
LAKESTAR II LP P    
LEGACY VENTURE IV LLC P    
LEGACY VENTURE IV LLC P    
LEGACY VENTURE IV LLC P    
LEGACY VENTURE IV LLC P    
LEGACY VENTURE IV LLC-SECTION 1231 P    
LONE CASCADE 12146 P    
LONE PINON LTD P    
LONE SAVIN LTD P    
LSVP IX P    
LSVP IX P    
LSVP X P    
LSVP X P    
LSVP XI P    
LSVP XI P    
LSVP SELECT P    
LSVP SELECT P    
LSVP SELECT II LP P    
LSVP SELECT II LP P    
LUX VENTURES III P    
LUX VENTURES IV LP P    
LUX VENTURES V LP P    
LUX VENTURES V LP P    
MISSIONPOINT CAPITAL PARTNERS FUND I P    
MISSIONPOINT RE COMMUNITY COINVEST P    
MUCKER CAPITAL III P    
MUCKER CAPITAL III P    
NEW EUROPE PROPERTY FUND P    
NORTHBRIDGE II AIV I P    
NORTHBRIDGE GROWTH EQUITY II P    
OVERLOOK PARTNERS P    
OVERLOOK PARTNERS P    
OVERLOOK 3G INVESTMENTS P    
OWL VENTURES P    
OWL VENTURES P    
RENAIISANCE INSTITUTIONAL EQUITIES FUND P    
RENAIISANCE INSTITUTIONAL EQUITIES FUND P    
RENEWABLE ENERGY ASIA FUND II LP P    
RINCON P    
RIVA CAPITAL II P    
SILVER LAKE KRAFWERK FUND LP P    
SILVER LAKE KRAFTWERK CAYMAN LP P    
SILVER LAKE KRAFTWERK DE AIV P    
SINOVATION WORKS III P    
SUSA III P    
SUSTAINABLE ASSET FUND LP P    
SUSTAINABLE ASSET FUND LP-SECTION 1231 P    
SUSTAINABLE ASSET FUND LP-SECTION 1231 P    
SUN VALLEY GOLD LTD P    
THIRD ROCK VENTURES III LP P    
THIRD ROCK VENTURES IV LP P    
THRESHOLD I LP P    
THRIVE PARTNERS III LP P    
THRIVE CAPITAL PARTNERS IV P    
THRIVE CAPITAL PARTNERS IV P    
THRIVE CAPITAL PARTNERS V P    
TRIBECA FUND I P    
TRIBECA FUND II LP P    
WATER STREET PARTNERS P    
WATER STREET PARTNERS P    
WATER STREET PARTNERS-SECTION 1256 P    
GMO EMERGING DOMESTIC OPPORTUNITIES      
MORGAN STANLEY FUTURES -1256 LOSS      
MORGAN STANLEY FUTURES -1256 LOSS P    
SBC LATIN PFIC CAPITAL GAIN DISTRIBUTIONS P    
SNAP INC      
UNDERSCORE VC ASSEMBLE P    
UNDERSCORE VC ASSEMBLE P    
GUARDANT HEALTH      
MICROSOFT CORP      
SLACK TECHNOLOGIES      
ZSCALER INC      
INTELLIA THERAPEUTICS      
SPOTIFY TECHNOLOGY      
VOYAGER THERAPEUTICS      
MYOKARDIA INC      
TELADOC HEALTH      
MAGENTA THERAPEUTICS      
SALEFORCE.COM      
REPLIMUNE      
CALL EEM P    
CALL FEZ P    
CALL EEM P    
CALL QQQ P    
CALL SPY P    
CALL ISHARES MSCI CHINA P    
NCH NEW EUROPE PFIC DISTRIBUTIONS P    
DOUGLASS EMMETT 2018 FINAL PAYMENT P    
EUR SAVINGS DEPOSIT 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 20,690     20,690
b 30,230     30,230
c 961,250     961,250
d       -163,262
e       -590,795
      -10,137
      -34,926
      -280,130
      -10,824
193     193
      -13,774
      -645,332
130,809     130,809
1,284,499     1,284,499
7,155     7,155
572,374     572,374
122,350     122,350
19,964     19,964
935,133     935,133
722,570     722,570
      -967
185,386     185,386
269,295     269,295
236,356     236,356
      -198,881
      -12,910
47,219     47,219
1,782   1,782 0
    6,415 -6,415
    3,470 -3,470
767,210   576,981 190,229
2,556,650   2,350,000 206,650
2,078,250     2,078,250
181     181
67,404     67,404
1,678     1,678
33,593     33,593
42     42
60,749     60,749
180,312     180,312
      -5,312
      -70,176
71,439     71,439
156,907     156,907
      -273,151
      -26,068
      -1,044
      -142,919
      -306
      -12,587
44,043     44,043
509,568     509,568
1     1
      -656
      -6,550
      -556
      -27,513
8,395     8,395
45,040     45,040
      -10,333
      -324
      -33,021
      -51,693
      -78,027
650     650
263,424     263,424
      -76,057
1,491,027     1,491,027
254,279     254,279
15,958     15,958
23,313     23,313
      -3,693
      -11,870
      -131,506
44,222     44,222
      -181,619
      -19,336
      0
1,352,876     1,352,876
    1,045 -1,045
      -60
      -730,955
2,655,352   422,000 2,233,352
5,921,272   5,000,000 921,272
      -10,657
4,896,468     4,896,468
      -25,695
116,047     116,047
      -1,946
134,527     134,527
      -14,360
283,052     283,052
1,110     1,110
      -19,214
2,700,474     2,700,474
      -257,176
50,583     50,583
334,044     334,044
80,611     80,611
      -2,794
      -20,009
      -160,469
      -228,114
72,617     72,617
518,699     518,699
552     552
85,422     85,422
42,954     42,954
11,332     11,332
      -3,244
      -458,422
4,076,238     4,076,238
15,522     15,522
278,456     278,456
13,928     13,928
      -981,600
      -412,168
244,478     244,478
791     791
      -67,419
      -1,674
      -2,970,294
    2,188,526 -2,188,526
4,239,572   6,000,000 -1,760,428
19,106     19,106
      -51,950
27     27
      -32,842
      -7
150,817     150,817
453,204     453,204
12,791     12,791
247,315     247,315
      -89,159
223,812     223,812
      -18,480
1,500,000   1,714,190 -214,190
      0
6,372,664     6,372,664
      120,000
2,560,725   63,699 2,497,026
15,173     15,173
9,052     9,052
2,701,707   308,392 2,393,315
2,309,975   417,244 1,892,731
736,547   220,615 515,932
617,183   58,951 558,232
519,808   87,335 432,473
513,662   96,086 417,576
491,543   123,633 367,911
345,368   24,244 321,124
289,796   45,717 244,079
131,475   34,206 97,269
121,297   99,313 21,983
120,496   46,729 73,766
1,166,014   1,166,014 0
290,228   290,228 0
    356,164 -356,164
    88,558 -88,558
    314,570 -314,570
3,526,261   3,992,230 -465,969
      6,917
      -115,288
2,154     2,154
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       20,690
b       30,230
c       961,250
d       -163,262
e       -590,795
      -10,137
      -34,926
      -280,130
      -10,824
      193
      -13,774
      -645,332
      130,809
      1,284,499
      7,155
      572,374
      122,350
      19,964
      935,133
      722,570
      -967
      185,386
      269,295
      236,356
      -198,881
      -12,910
      47,219
      0
      -6,415
      -3,470
      190,229
      206,650
      2,078,250
      181
      67,404
      1,678
      33,593
      42
      60,749
      180,312
      -5,312
      -70,176
      71,439
      156,907
      -273,151
      -26,068
      -1,044
      -142,919
      -306
      -12,587
      44,043
      509,568
      1
      -656
      -6,550
      -556
      -27,513
      8,395
      45,040
      -10,333
      -324
      -33,021
      -51,693
      -78,027
      650
      263,424
      -76,057
      1,491,027
      254,279
      15,958
      23,313
      -3,693
      -11,870
      -131,506
      44,222
      -181,619
      -19,336
      0
      1,352,876
      -1,045
      -60
      -730,955
      2,233,352
      921,272
      -10,657
      4,896,468
      -25,695
      116,047
      -1,946
      134,527
      -14,360
      283,052
      1,110
      -19,214
      2,700,474
      -257,176
      50,583
      334,044
      80,611
      -2,794
      -20,009
      -160,469
      -228,114
      72,617
      518,699
      552
      85,422
      42,954
      11,332
      -3,244
      -458,422
      4,076,238
      15,522
      278,456
      13,928
      -981,600
      -412,168
      244,478
      791
      -67,419
      -1,674
      -2,970,294
      -2,188,526
      -1,760,428
      19,106
      -51,950
      27
      -32,842
      -7
      150,817
      453,204
      12,791
      247,315
      -89,159
      223,812
      -18,480
      -214,190
      0
      6,372,664
      120,000
      2,497,026
      15,173
      9,052
      2,393,315
      1,892,731
      515,932
      558,232
      432,473
      417,576
      367,911
      321,124
      244,079
      97,269
      21,983
      73,766
      0
      0
      -356,164
      -88,558
      -314,570
      -465,969
      6,917
      -115,288
      2,154
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 32,025,095
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))
2018 26,826,373 586,011,392 0.045778
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
2
Total of line 1, column (d) .....................
2
0.226136
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
0.045227
4
Enter the net value of noncharitable-use assets for 2019 from Part X, line 5......
4
609,624,101
5
Multiply line 4 by line 3......................
5
27,571,469
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
271,680
7
Add lines 5 and 6........................
7
27,843,149
8
Enter qualifying distributions from Part XII, line 4,.............
8
29,187,773
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 (2019)
Form 990-PF (2019)
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 1 271,680
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........................... 3 271,680
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- ..... 5 271,680
6 Credits/Payments:
a 2019 estimated tax payments and 2018 overpayment credited to 2019 6a 600,000
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 600,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
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 10 328,320
11 Enter the amount of line 10 to be: Credited to 2020 estimated taxBullet328,320 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 2019 or the taxable year beginning in 2019? 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 (2019)
    Form 990-PF (2019)
    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 2019, 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 2019?.............
    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 2019, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2019?.............
    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 2019 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 2019.)..................
    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 2019?
    4b
     
    No
    Form 990-PF (2019)
    Form 990-PF (2019)
    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
     
     
    .........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).
    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 (2019)
    Form 990-PF (2019)
    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 1,051,953
    100 SUMMER STREET
    BOSTON,MA02110
    ZACHARY TAYLOR THOMAS CONSULTING 63,938
    38 BROWNLOW ROAD
    CAPETOWN,CAPE TOWN  
    SF
    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 (2019)
    Form 990-PF (2019)
    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
    14,534,032
    b
    Average of monthly cash balances.......................
    1b
    31,437,455
    c
    Fair market value of all other assets (see instructions)................
    1c
    572,936,230
    d
    Total (add lines 1a, b, and c).........................
    1d
    618,907,717
    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
    618,907,717
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    9,283,616
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    609,624,101
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    30,481,205
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    30,481,205
    2a
    Tax on investment income for 2019 from Part VI, line 5......
    2a
    271,680
    b
    Income tax for 2019. (This does not include the tax from Part VI.)...
    2b
    1,631
    c
    Add lines 2a and 2b............................
    2c
    273,311
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    30,207,894
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    30,207,894
    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
    30,207,894
    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
    29,187,773
    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
    29,187,773
    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
    271,680
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    28,916,093
    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 (2019)
    Form 990-PF (2019)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2018     		(c)
    2018     		(d)
    2019
    1 Distributable amount for 2019 from Part XI, line 7 30,207,894
    2 Undistributed income, if any, as of the end of 2019:
    a Enter amount for 2018 only....... 26,999,327
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2019:
    a From 2014......  
    b From 2015......  
    c From 2016......  
    d From 2017......  
    e From 2018......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2019 from Part
    XII, line 4: bullet$ 29,187,773
    a Applied to 2018, but not more than line 2a 26,999,327
    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 2019 distributable amount..... 2,188,446
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2019. 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 2018. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2019. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2020 ..........     		28,019,448
    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 2014 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2020.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2015....  
    b Excess from 2016....  
    c Excess from 2017....  
    d Excess from 2018....  
    e Excess from 2019....  
    Form 990-PF (2019)
    Form 990-PF (2019)
    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 2019, 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) 2019 (b) 2018 (c) 2017 (d) 2016
             
    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 (2019)
    Form 990-PF (2019)
    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 CLIMATE & ENERGY OUTREACH 900,000
    ACADIA CENTER
    8 SUMMER STREET
    ROCKPORT,ME04856     		N/A PC CLIMATE & ENERGY POLICY 10,000
    BETTER FUTURES PROJECT
    30 BOW STREET
    CAMBRIDGE,MA02138     		N/A PC DIVEST HARVARD PROGRAM 15,000
    CALIFORNIA INSTITUTE OF TECHNOLOGY
    1200 E CALIFORNIA BLVD
    PASADENA,CA91125     		N/A PC HIGH-RESOLUTION METHANE SATELLITE. CARBON MINERALIZATION TECHNOLOGY 1,042,137
    CAMBRIDGE IN AMERICA
    PO BOX 9123 JAF BLG
    NEW YORK,NY10087     		N/A PC CLIMATE SCIENCE & POLICY RESEARCH 166,667
    CARBON TRACKER INITIATIVE
    300 PARK AVENUE 12TH FLOOR
    NEW YORK,NY10022     		N/A PC CLIMATE & ENERGY OUTREACH. RENEWED 3-YR AGREEMENT 600,000
    CERES INC
    99 CHAUNCY STREET 6TH FLOOR
    BOSTON,MA02111     		N/A PC CLIMATE & ENERGY OUTREACH 100,000
    CLIENTEARTH USA INC
    125 PARK AVENUE 26TH FLOOR
    NEW YORK,NY10017     		N/A PC CLIMATE SMART AG POLICY IN EU 250,000
    CLIMATE SCIENCE LEGAL DEFENSE FUND
    475 RIVERSIDE DRIVE SUITE 244
    NEW YORK,NY10115     		N/A PC CLIMATE & ENERGY OUTREACH 50,000
    CLIMATEWORKS FOUNDATION
    235 MONTGOMERY ST STE 1300
    SAN FRANCISCO,CA94104     		N/A PC FUNDERS TABLE & SUSTAINABLE FINANCE PROGRAMS 25,000
    COLUMBIA UNIVERSITY
    622 WEST 113TH STREET MAIL CODE
    4524
    NEW YORK,NY10025     		N/A PC CLIMATE SCIENCE & POLICY RESEARCH. JAMES HANSEN INSTITUTE 100,000
    CONSERVATION LAW FOUNDATION
    62 SUMMER STREET
    BOSTON,MA02110     		N/A PC CLIMATE PROGRAM 300,000
    DUKE UNIVERSITY
    ALUMNI DEVELOPMENT RECORDS
    DURHAM,NC27708     		N/A PC PEAT FOREST CARBON SEQUESTRATION RESEARCH 200,000
    ENVIRONMENTAL DEFENSE FUND INCORPORATED
    257 PARK AVENUE SOUTH 17TH FLOOR
    NEW YORK,NY10010     		N/A PC CLIMATE & ENERGY POLICY 1,500,000
    ENVIRONMENTAL LEAGUE OF MASSACHUSETTS INC
    15 COURT SQUARE SUITE 1000
    BOSTON,MA02108     		N/A PC ENVIRONMENTAL EDUCATION 75,000
    FOODSHOT GLOBAL
    43 W 61ST ST APT 22P
    NEW YORK,NY10023     		N/A PC SOIL HEALTH STARTUP ACCELERATOR PROGRAM 25,000
    GLOBAL WITNESS
    1100 17TH STREET NW SUITE 501
    WASHINGTON,DC20036     		N/A PC STRONG INVESTIGATIVE WORK IN SE ASIA RE FOSSIL FUELS, CORRUPTION 250,000
    GREENPEACE FUND INC
    702 H STREET NW SUITE 300
    WASHINGTON,DC20001     		N/A PC INTERNATIONAL PROGRAMS 200,000
    HEALTH IN HARMONY INC
    3804 SE BELMONT STREET
    PORTLAND,OR97214     		N/A PC CONSERVATION 10,000
    IMPERIAL COLLEGE
    SOUTH KENSINGTON CAMPUS EXHIBITION
    ROAD
    LONDON   SW7 2AZ
    UK     		N/A FOREIGN UNIVERSITY CLIMATE SCIENCE & POLICY RESEARCH 2,163,654
    INDIAN INSTITUTE OF SCIENCE
    897 INDEPENDENCE AVE STE 4C
    MOUNTAIN VIEW,CA94043     		N/A PC CLIMATE SCIENCE & POLICY RESEARCH. 600,000
    INNOVATION NETWORK
    156 GROVER LANCE
    TAMWORTH,NH03886     		N/A PC BU INST FOR SUSTAINABLE ENERGY. BOSTON MAYOR'S GREEN RIBBON COMMISSION 80,000
    KEYSTONE CENTER
    1628 STS JOHN ROAD
    KEYSTON,CO80435     		N/A PC PROMOTE ECOSYSTEMS AND COMMUNITIES 175,000
    LEAGUE OF CONSERVATION
    740 15TH ST NW STE 700
    WASHINGTON,DC20005     		N/A PC VOTER REGISTRATION & EDUCATION 750,000
    LINDEN TRUST FOR CONSERVATION
    156 WEST 56TH STREET SUITE 1100
    NEW YORK,NY10019     		N/A POF CLIMATE POLICY 825,000
    LIVING ON EARTH
    PO BOX 990007 PRUDENTIAL STATION
    BOSTON,MA02199     		N/A PC ENVIRONMENTAL MEDIA 75,000
    LONDON SCHOOL OF ECONOMICS
    HOUGHTON STREET
    LONDON   WC2A 2AE
    UK     		N/A FOREIGN UNIVERSITY CLIMATE SCIENCE & POLICY RESEARCH. CLIMATE & ENERGY OUTREACH 2,426,783
    LOST LIGHTS PROJECTS INC
    16 COURT STREET SUITE 2307
    BROOKLYN,NY11241     		N/A PC POST-CARBON INSTITUTE. CORE SUPPORT, SEED REGIONAL HUBS 300,000
    MASSACHUSETTS INSTITUTE OF TECH
    77 MASSACHUSETTS AVE 49-3
    CAMBRIDGE,MA02139     		N/A PC BIOINSTRUMENTATION LAB (IAN HUNTER), CELLULOSIC NANOFIBERS 1,000,000
    METAFOUNDATION
    8726 S SEPULVEDA BOULEVARD SUITE D
    612
    LOS ANGELES,CA90045     		N/A PC ENVIRONMENTAL EDUCATION 80,000
    NEW ENGLAND FORESTRY FOUNDATION INC
    32 FOSTER STREET
    LITTLETON,MA01460     		N/A PC BUILD WOOD CAMPAIGN 125,000
    NEXTGEN CLIMATE AMERICA INC
    111 SUTTER STREET 10TH FLOOR
    SAN FRANCISCO,CA94104     		N/A PC YOUTH VOTER REGISTRATION 250,000
    OXFAM AMERICA INC
    226 CAUSEWAY STREET 5TH FLOOR
    BOSTON,MA02114     		N/A PC ALTERNATIVES TO COAL IN DEVELOPMENT 150,000
    RAINFOREST ACTION NETWORK
    425 BUSH STREET STE 300
    SAN FRANCISCO,CA94108     		N/A PC CONSERVATION 50,000
    REGENTS OF THE UNIVERSITY OF CALIFORNIA
    1156 HIGH ST
    SANTA CRUZ,CA95064     		N/A PC ECOLOGICAL ASSESSMENT OF MARINE PERMACULTURE 188,075
    RENSSELEAR POLYTECHNIC INSTITUTE
    110 8TH ST
    TROY,NY12180     		N/A PC ECOLOGICAL ASSESSMENT OF MARINE PERMACULTURE 481,412
    ROCKEFELLER FAMILY FUND (DAF)
    475 RIVERSIDE DRIVE SUITE 900
    NEW YORK,NY10115     		N/A PC CLIMATE PROGRAM 1,500,000
    ROCKY MOUNTAIN INSTITUTE
    2490 JUNCTION PLACE SUITE 200
    BOULDER,CO80302     		N/A PC CHINA & INDIA CLEAN ENERGY & EV PROGRAMS 1,450,000
    RODALE INSTITUTE
    611 SIEGFRIEDALE RD
    KUTZTOWN,PA19530     		N/A PC RESEARCH ON HEALTH BENEFITS OF ORGANIC FOOD 40,000
    SAVANNA INSTITUTE
    1360 REGENT ST 124
    MADISON,WI53715     		N/A PC AGRICULTURE & AQUACULTURE 200,000
    SIERRA CLUB
    2101 WEBSTER STREET SUITE 1300
    OAKLAND,CA94612     		N/A PC INTERNATIONAL PROGRAMS 150,000
    STICHTING EUROPEAN CLIMATE FOUNDATION
    RIVIERVISMARKT 52513 AM
    DEN HAAG   2513 AM
    NL     		N/A FOREIGN CHARITY CARBON BRIEF, ECIU, SOURCEMATERIAL 900,000
    STICHTING SED FUND
    FLUWELEN BURGWAL 58
    CJ DEN HAAG   2511
    NL     		N/A FOREIGN CHARITY INDIA CLIMATE/ENERGY/ENVIRONMENT 2,000,000
    THE CENTER FOR PUBLIC INTEGRITY
    910 17TH STREET NW 7TH FLOOR
    WASHINGTON,DC20006     		N/A PC CARBON WARS 500,000
    THE ENERGY FOUNDATION
    301 BATTERY STREET 5TH FLOOR
    SAN FRANCISCO,CA94111     		N/A PC ISSUES MGT, OPPO, DIGITAL, REGIONAL COMMS CAPACITY. OPPOSITION RESEARCH. GRASSROOTS MOVEMENT BUILDING ON CLIMATE. CC IN THE AMERICAN MIND SURVEY; HEALTH PARTNERSHIPS 1,000,000
    THE YEARS PROJECT
    630 9TH AVE SUITE 305
    NEW YORK,NY10036     		N/A PC ENVIRONMENTAL MEDIA 300,000
    TRUSTED CLIMATE DATA INITIATIVE
    222 THIRD STREET SUITE 2163
    CAMBRIDGE,MA02142     		N/A PC SEED FUNDING FOR GLOBAL CLIMATE DATA INTEGRITY PLATFORM 1,400,000
    UNION OF CONCERNED SCIENTISTS INC
    2 BRATTLE SQUARE 6TH FLOOR
    CAMBRIDGE,MA02138     		N/A PC CLIMATE ACCOUNTABILITY PROGRAM. AGRICULTURE PROGRAM 800,000
    UNIVERSITY OF MICHIGAN
    500 S STATE ST
    ANN ARBOR,MI48109     		N/A PC CARBON REMOVAL & UTILIZATION, LIFE-CYCLE ANALYSIS 25,000
    UNIVERSITY OF SHEFFIELD
    WESTERN BANK
    SHEFFIELD,SOUTH YORKSHIRES10 2TN
    UK     		N/A FOREIGN UNIVERSITY CLIMATE SCIENCE & POLICY RESEARCH 1,381,305
    WGBH EDUCATIONAL FOUNDATION
    ONE GUEST STREET
    BOSTON,MA02135     		N/A PC ENVIRONMENTAL MEDIA 100,000
    WILD AID
    44 MONTGOMERY STREET SUITE 300
    SAN FRANCISCO,CA94111     		N/A PC ENVIORNMENTAL PUBLIC SERVICE ANNOUNCEMENTS IN CHINA 400,000
    WINDWARD FUND
    1201 CONNECTICUT AVE NW SUITE 300
    WASHINGTON,DC20036     		  PC CLIMATE & ENERGY OUTREACH 1,000,000
    WOODS HOLE RESEARCH CENTER INC
    149 WOODS HOLE ROAD
    FALMOUTH,MA02540     		N/A PC CLIMATE SCIENCE & POLICY RESEARCH 25,000
    YALE UNIVERSITY
    POBOX 2038
    NEW HAVEN,CT06521     		N/A PC CLIMATE & ENERGY OUTREACH 400,000
    Total .................................bullet 3a 29,110,033
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2019)
    Form 990-PF (2019)
    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 ...........     		    14 659,992  
    4 Dividends and interest from securities.... 900000 4,530 14 3,657,974  
    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 1,016,248 14 164,943  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		900000 -2,200,223 14 34,224,551  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aUBTI FROM PASSTHROUGHTS     		900000        
    bOTHER INCOME FROM PASSTHROUGHS     14    
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. -1,179,445 38,707,460 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    37,528,015
    (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 (2019)
    Form 990-PF (2019)
    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 (2019)
    Additional Data


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    Software Version:  


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    Special Condition Description