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. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
VALHALLA FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)175 FOX HOLLOW ROAD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WOODSIDE, CA94062
A Employer identification number

20-0478828
B Telephone number (see instructions)

(650) 529-9207
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$839,554,681J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 15,465,941 16,066,436  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 35,075,865
b Gross sales price for all assets on line 6a 236,521,839
7 Capital gain net income (from Part IV, line 2)... 173,770,380
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).......      
12 Total. Add lines 1 through 11........ 50,541,806 189,836,816  
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 11,953 0   7,182
b Accounting fees (attach schedule)....... Click to see attachment 41,880 10,470   0
c Other professional fees (attach schedule).... Click to see attachment 3,659,411 1,668,739   1,960,125
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,626,695 348,325   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 2,352 0   2,352
22 Printing and publications.......... 32 0   32
23 Other expenses (attach schedule)....... Click to see attachment 24,006 0   16,776
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 6,366,329 2,027,534   1,986,467
25 Contributions, gifts, grants paid....... 97,288,717 60,145,383
26 Total expenses and disbursements. Add lines 24 and 25 103,655,046 2,027,534   62,131,850
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -53,113,240
b Net investment income (if negative, enter -0-) 187,809,282
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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......... 64,339,105 38,428,809 38,428,809
3 Accounts receivable bullet10,185
Less: allowance for doubtful accounts bullet   6,727 10,185 10,185
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) bullet516,329
Less: allowance for doubtful accounts bullet0 506,475 516,329 516,329
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)....... 516,873,706 Click to see attachment516,782,061 516,782,061
c Investments—corporate bonds (attach schedule)....... 189,078,072 Click to see attachment241,303,410 241,303,410
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 27,255,810 Click to see attachment42,513,887 42,513,887
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 798,059,895 839,554,681 839,554,681
Liabilities 17 Accounts payable and accrued expenses.......... 681,909 762,757
18 Grants payable................. 90,058,773 127,202,109
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons 13,422  
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment1,615,495 Click to see attachment59,610
23 Total liabilities (add lines 17 through 22)......... 92,369,599 128,024,476
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........... 705,690,296 711,530,205
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 705,690,296 711,530,205
30 Total liabilities and net assets/fund balances (see instructions). 798,059,895 839,554,681
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
705,690,296
2
Enter amount from Part I, line 27a .....................
2
-53,113,240
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
58,953,149
4
Add lines 1, 2, and 3 ..........................
4
711,530,205
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
711,530,205
Form 990-PF (2021)
Form 990-PF (2021)
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 PUBLICLY TRADED SECURITIES-JPM #5001 D 2020-12-31 2021-12-31
b PUBLICLY TRADED SECURITIES-JPM #5005 P 2020-12-31 2021-12-31
c CAPITAL GAIN FROM K-1S P 2020-12-31 2021-12-31
d CAPITAL GAIN FROM K-1S P 2020-12-31 2021-12-31
e NEARPOD HOLDINGS, INC. P 2016-03-08 2021-03-12
REALIZED GAIN PER BOOKS P 2020-12-31 2021-12-31
(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 155,828,026   1,079 155,826,947
b 30,449,813   25,287,503 5,162,310
c 3,433,487     3,433,487
d 22,014     22,014
e 11,712,633   2,387,011 9,325,622
35,075,866   35,075,866 0
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       155,826,947
b       5,162,310
c       3,433,487
d       22,014
e       9,325,622
      0
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 2 173,770,380
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  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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 2,610,549
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 2,610,549
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 2,577,055
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 110,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 2,687,055
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 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 76,506
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet76,506 RefundedBullet 11 0
Part VI-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 the instructions
for the 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 XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCA
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-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 instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletVALHALLA.ORG
    14
    The books are in care ofbulletALEX TERMAN Telephone no.bullet (650) 529-9207

    Located atbullet175 FOX HOLLOW ROADWOODSIDECA ZIP+4bullet94062
    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 2021, 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 VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
    Yes
     
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
    Yes
     
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    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
     
    No
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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? ..............................
    3a
    Yes
     
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    3b
     
    No
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    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
    Yes
     
    c
    .........bullet
    d
    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? .................
    5d
    Yes
     
    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? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    Part VII
    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
    H SIGNE OSTBY PRESIDENT
    4.00     		0 0 0
    175 FOX HOLLOW ROAD
    WOODSIDE,CA94062
    SCOTT D COOK TREASURER
    2.00     		0 0 0
    175 FOX HOLLOW ROAD
    WOODSIDE,CA94062
    ALEX TERMAN SECRETARY
    2.00     		0 0 0
    175 FOX HOLLOW ROAD
    WOODSIDE,CA94062
    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 (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    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
    THE BRIDGESPAN GROUP PHILANTHROPY MANAGEMENT CONSULTING 1,852,500
    88 KEARNY ST SUITE 200
    SAN FRANCISCO,CA94108
    60 DECIBELS INC SURVEY DATA COLLECTION AND ANALYSIS 55,000
    228 PARK AVE S PMB 54413
    NEW YORK,NY10003
    CAMBIAR EDUCATION DIVERSITY, EQUITY, AND INCLUSION CONSULTING 50,000
    4658 CARMEL MOUNTAIN RD SUITE
    308-97
    SAN DIEGO,CA92130
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-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 VIII-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 IN 2019 AND 2020, THE FOUNDATION MADE A TOTAL OF $500,000 IN PROGRAM-RELATED INVESTMENT LOANS TO EARLY LEARNING SOLUTIONS, INC. (ELS). UNDER THE TERMS OF THE LOAN AGREEMENT, ELS MAY REQUEST UP TO $1,000,000 IN TOTAL LOAN FUNDING. INTEREST ON OUTSTANDING PRINCIPAL ACCRUES AT AN ANNUAL RATE OF 2.59%. THE CHARITABLE PURPOSE OF THE LOAN IS TO SUPPORT THE PROVISION OF STANDARDS-ALIGNED, EVIDENCE-BASED EARLY LEARNING MATH SOFTWARE, WITH EFFORTS MADE AND DISCOUNTS PROVIDED TO FACILITATE THE IMPLEMENTATION, TRAINING, AND SALE OF THE SOFTWARE AND SOFTWARE-RELATED SERVICES IN SCHOOLS OR EDUCATIONAL FACILITIES WHERE AT LEAST FIFTY PERCENT OF CHILDREN ENROLLED ARE ELIGIBLE FOR FREE OR REDUCED PRICE MEALS. EXPENDITURE RESPONSIBILITY IS BEING CONDUCTED ON THIS LOAN AND REPORTED ON STATEMENT 12. 0
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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
    711,476,131
    b
    Average of monthly cash balances.......................
    1b
    52,928,212
    c
    Fair market value of all other assets (see instructions)................
    1c
    42,500,080
    d
    Total (add lines 1a, b, and c).........................
    1d
    806,904,423
    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
    806,904,423
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    12,103,566
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    794,800,857
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    39,740,043
    Part X
    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 IX, line 6..................
    1
    39,740,043
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    2,610,549
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,610,549
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    37,129,494
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    37,129,494
    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 XII, line 1 ...
    7
    37,129,494
    Part XI
    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
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    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 XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 37,129,494
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 9,197,015
    b From 2017...... 16,623,748
    c From 2018...... 26,270,619
    d From 2019...... 14,560,293
    e From 2020...... 37,170,453
    f Total of lines 3a through e ........ 103,822,128
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 62,131,850
    a Applied to 2020, but not more than line 2a 0
    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 2021 distributable amount..... 37,129,494
    e Remaining amount distributed out of corpus 25,002,356
    5 Excess distributions carryover applied to 2021. 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 5 128,824,484
    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 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		0
    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 2016 not
    applied on line 5 or line 7 (see instructions) ...     		9,197,015
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		119,627,469
    10 Analysis of line 9:
    a Excess from 2017.... 16,623,748
    b Excess from 2018.... 26,270,619
    c Excess from 2019.... 14,560,293
    d Excess from 2020.... 37,170,453
    e Excess from 2021.... 25,002,356
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    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).)
    H SIGNE OSTBY
    SCOTT D COOK
    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 (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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
    AFRICAN LEADERSHIP FOUNDATION
    PO BOX 7408
    NEW YORK,NY10150     		NONE PC STUDENT SCHOLARSHIPS 120,000
    ALL OUR KIN
    PO BOX 8477
    NEW HAVEN,CT06530     		NONE PC SCALING EARLY CHILDHOOD DEVELOPMENT PROGRAM 325,000
    BABY2BABY
    5830 W JEFFERSON BLVD SUITE 200
    LOS ANGELES,CA90016     		NONE PC SUPPORT FOR LOW INCOME FAMILIES 50,000
    BLUE MERIDIAN PARTNERS
    415 MADISON AVE 10TH FLOOR
    NEW YORK,NY10017     		NONE PC COLLABORATIVE PHILANTHROPY INITIATIVE 10,000,000
    BOYS HOPE GIRLS HOPE INTERNATIONAL
    12120 BRIDGETON SQUARE
    BRIDGETON,MO63044     		NONE PC K12 EDUCATIONAL PROGRAMS 175,000
    BRAVEN
    171 N ABERDEEN ST SUITE 400
    CHICAGO,IL60607     		NONE PC SCALING COLLEGE AND CAREER SUCCESS PROGRAM 1,000,000
    CASE METHOD INSTITUTE FOR EDUCATION AND DEMOCRACY
    8 STORY STREET SUITE 100
    CAMBRIDGE,MA02138     		NONE PC SCALING HIGH SCHOOL CIVICS PROGRAM 1,000,000
    CENTER FOR POLICING EQUITY
    PO BOX 102845
    LOS ANGELES,CA91189     		NONE PC PROMOTING EVIDENCE-BASED APPROACHES TO IMPROVING POLICING AND PUBLIC SAFETY 1,750,000
    CENTERING HEALTHCARE INSTITUTE
    89 SOUTH STREET 404
    BOSTON,MA02111     		NONE PC EARLY CHILDHOOD HEALTHCARE INITIATIVE 2,295,000
    COASTSIDE LAND TRUST
    PO BOX 3205
    HALF MOON BAY,CA94019     		NONE PC ENVIRONMENTAL CONSERVATION SUPPORT 10,000
    COMMUNITY PARTNERS
    1000 NORTH ALAMEDA ST 240
    LOS ANGELES,CA90012     		NONE PC JUST EQUATIONS, AN INITIATIVE TO PROMOTE EQUITY IN MATH EDUCATION 250,000
    DONORSCHOOSEORG
    134 WEST 37TH ST 11TH FLOOR
    NEW YORK,NY10018     		NONE PC SUPPORT PUBLIC SCHOOL TEACHERS AND EDUCATIONAL PROGRAMS 2,500,000
    DUKE UNIVERSITY
    214A SANFORD BUILDING BOX 90245
    DURHAM,NC27708     		NONE PC SCALING THE FAMILY CONNECTS EARLY CHILDHOOD DEVELOPMENT PROGRAM 550,000
    EARLY LEARNING SOLUTIONS
    22 PEARCE MITCHELL PLACE
    STANFORD,CA94305     		NONE NC SCALING THE MATH SHELF EARLY CHILDHOOD MATH PROGRAM 359,110
    EASTSIDE COLLEGE PREPARATORY SCHOOL
    1041 MYRTLE STREET
    EAST PALO ALTO,CA94303     		NONE PC K12 EDUCATION AND POST-SECONDARY SUCCESS PROGRAMS 50,000
    EDUCATE GIRLS
    815 BRAZOS STREET
    AUSTIN,TX78701     		NONE PC SCALING INTERNATIONAL EDUCATIONAL PROGRAMS 1,700,000
    ENVIRONMENTAL DEFENSE FUND
    257 PARK AVENUE SOUTH
    NEW YORK,NY10010     		NONE PC ENVIRONMENTAL RESEARCH INITIATIVES 3,000,000
    FEEDING AMERICA
    161 N CLARK SUITE 700
    CHICAGO,IL60601     		NONE PC HUNGER PREVENTION PROGRAMS 10,000
    FRIENDS OF THE MARINA LIBRARY
    PO BOX 493
    MARINA,CA93933     		NONE PC K12 EDUCATIONAL PROGRAMS 5,000
    HARVARD BUSINESS SCHOOL
    SOLDIERS FIELD
    BOSTON,MA02163     		NONE PC ENDOWMENT FUND SUPPORTING THE STUDY OF ENTREPRENEURSHIP 250,000
    HILLSBOROUGH SCHOOLS FOUNDATION
    300 EL CERRITO AVENUE
    HILLSBOROUGH,CA94010     		NONE PC K12 EDUCATIONAL PROGRAMS 10,000
    INTERNATIONAL MEDICAL CORPS
    12400 WILSHIRE BLVD SUITE 1500
    LOS ANGELES,CA90025     		NONE PC DISASTER RELIEF PROGRAMS 250,000
    KIPP FOUNDATION
    135 MAIN STREET SUITE 1700
    SAN FRANCISCO,CA94105     		NONE PC SCALING PUBLIC CHARTER SCHOOL NETWORK 3,000,000
    LAST MILE HEALTH
    PO BOX 130122
    BOSTON,MA02113     		NONE PC SCALING COMMUNITY HEALTH PROGRAMS 360,000
    LENA FOUNDATION
    5525 CENTRAL AVENUE
    BOULDER,CO80301     		NONE PC SCALING EARLY CHILDHOOD DEVELOPMENT PROGRAMS 1,000,000
    LIBERA INC
    PO BOX 1147
    DELLSLOW,WV26531     		NONE PC MENTORSHIP PROGRAMS 10,000
    LIFEMOVES
    181 CONSTITUTION DRIVE
    MENLO PARK,CA94025     		NONE PC HOMELESSNESS PREVENTION IN SILICON VALLEY 200,000
    LIVING GOODS
    220 HALLECK STREET SUITE 200
    SAN FRANCISCO,CA94129     		NONE PC SCALING COMMUNITY HEALTH PROGRAMS 800,000
    MAKE-A-WISH FOUNDATION OF ARIZONA
    2901 NORTH 78TH STREET
    SCOTTSDALE,AZ85251     		NONE PC CHILD WELFARE PROGRAMS 10,000
    NORTHERN LIGHT SCHOOL
    3710 DORISA AVENUE
    OAKLAND,CA94605     		NONE PC K12 EDUCATIONAL PROGRAMS 10,000
    NURSE-FAMILY PARTNERSHIP
    1900 GRANT ST SUITE 400
    DENVER,CO80203     		NONE PC SCALING EARLY CHILDHOOD DEVELOPMENT PROGRAMS 1,200,000
    ONE ACRE FUND
    1954 FIRST STREET 183
    HIGHLAND PARK,IL60035     		NONE PC INTERNATIONAL DEVELOPMENT PROGRAM 3,200,000
    PUENTE DE LA COSTA SUR
    620 NORTH STREET
    PESCADERO,CA94060     		NONE PC COVID-19 RELIEF EFFORTS 300,000
    QUECHUA BENEFIT
    11785 SOUTHWEST RIVER ROAD
    HILLSBORO,OR97123     		NONE PC GENERAL SUPPORT - SOCIAL JUSTICE 10,000
    ROCKEFELLER PHILANTHROPY PARTNERS
    6 WEST 48TH STREET 10TH FLOOR
    NEW YORK,NY10036     		NONE PC PROMISE VENTURE STUDIO, AN EARLY CHILDHOOD FIELD-BUILDING INITIATIVE 1,000,000
    SECOND HARVEST OF SILICON VALLEY
    750 CURTNER AVENUE
    SAN JOSE,CA95125     		NONE PC COVID-19 RELIEF EFFORTS 1,250,000
    SIRUM
    3000 EL CAMINO REAL BLDG 4 200
    PALO ALTO,CA94306     		NONE PC IMPROVING HEALTH CARE EQUITY 600,000
    SOLUTIONS JOURNALISM NETWORK
    115 EAST 34TH STREET UNIT 1806
    NEW YORK,NY10156     		NONE PC SUPPORTING RIGOROUS REPORTING ON SOCIAL ISSUES AND SOLUTIONS 10,000
    SOUTHERN NEW HAMPSHIRE UNIVERSITY
    2500 NORTH RIVER ROAD
    MANCHESTER,NH03106     		NONE PC SCALING REFUGEE COLLEGE PROGRAM 1,000,000
    TEACHERS COLLEGE COLUMBIA UNIVERSITY
    525 WEST 120TH STREET BOX 30
    NEW YORK,NY10027     		NONE PC BABY'S FIRST YEARS EARLY CHILDHOOD RESEARCH PROJECT 228,000
    TECHBRIDGE GIRLS
    114 LINDEN ST
    OAKLAND,CA94607     		NONE NC SUPPORTING STEM EDUCATION FOR GIRLS 10,000
    TED FOUNDATION
    330 HUDSON ST 11TH FLOOR
    NEW YORK,NY10013     		NONE POF SCALING COLLABORATIVE PHILANTHROPY INITIATIVES 1,000,000
    THE BRIDGESPAN GROUP
    2 COPLEY PLACE NO 3700B
    BOSTON,MA02116     		NONE PC SCALING NONPROFIT ADVISORY SERVICES AND FIELD-BUILDING EFFORTS 2,000,000
    THE MARINA FOUNDATION
    PO BOX 324
    MARINA,CA93933     		NONE PC K-12 EDUCATION RESOURCES 5,000
    THORN
    200 PARK AVENUE SOUTH 8TH FLOOR
    NEW YORK,NY10003     		NONE PC CHILD ABUSE PREVENTION 1,210,000
    UCSF FOUNDATION
    600 W 16TH STREET GENENTECH HALL
    S374
    SAN FRANCISCO,CA94117     		NONE PC MEDICAL RESEARCH INITIATIVES 6,914,700
    UNIVERSITY OF CHICAGO
    5801 SOUTH ELLIS AVENUE
    CHICAGO,IL60637     		NONE PC DATA LITERACY EDUCATION FIELD-BUILDING INITIATIVE 500,000
    UNIVERSITY OF COLORADO FOUNDATION
    1800 GRANT ST SUITE 725
    DENVER,CO80203     		NONE PC HIGHER EDUCATION 10,000
    UNIVERSITY OF NEW MEXICO
    2211 LOMAS BLVD NE
    ALBUQUERQUE,NM87131     		NONE PC COVID-19 RELIEF EFFORTS 1,000,000
    UNIVERSITY OF OREGON FOUNDATION
    1720 E 13TH AVENUE SUITE 410
    EUGENE,OR97403     		NONE PC IMPACT MEASURES TOOL, AN EARLY CHILDHOOD FIELD-BUILDING INITIATIVE 150,000
    UNIVERSITY OF TEXAS AT AUSTIN
    2300 RED RIVER STREET
    AUSTIN,TX78712     		NONE PC PRENATAL-TO-3 POLICY IMPACT CENTER, AN EARLY CHILDHOOD FIELD-BUILDING INITIATIVE 760,000
    WATERFORD INSTITUTE
    4246 RIVERBOAT RD
    TAYLORSVILLE,UT84123     		NONE PC SCALING KINDERGARTEN READINESS PROGRAMS 1,988,573
    WHITEHEAD INSTITUTE FOR BIOMEDICAL RESEARCH
    455 MAIN STREET
    CAMBRIDGE,MA02142     		NONE PC MEDICAL RESEARCH FELLOWS PROGRAM 750,000
    WILDFLOWER SCHOOLS
    1330 LAGOON AVE 4TH FLOOR
    MINNEAPOLIS,MN55408     		NONE PC SCALING MONTESSORI EDUCATIONAL PROGRAMS 1,000,000
    WILLIAM MARSH RICE UNIVERSITY
    PO BOX 1892
    HOUSTON,TX77251     		NONE PC SCALING OPENSTAX EDUCATIONAL PROGRAM 500,000
    ZERO TO THREE
    1255 23RD STREET NW SUITE 350
    WASHINGTON,DC20037     		NONE PC SCALING THE HEALTHYSTEPS EARLY CHILDHOOD DEVELOPMENT PROGRAM 2,500,000
    Total .................................bullet 3a 60,145,383
    bApproved for future payment
    BOYS HOPE GIRLS HOPE
    12120 BRIDGETON SQUARE
    BRIDGETON,MO63044     		NONE PC K12 EDUCATIONAL PROGRAMS 75,000
    BRAVEN
    171 N ABERDEEN ST SUITE 400
    CHICAGO,IL60607     		NONE PC SCALING COLLEGE AND CAREER SUCCESS PROGRAMS 1,000,000
    CODE FOR AMERICA
    972 MISSION ST 5TH FLOOR
    SAN FRANCISCO,CA94103     		NONE PC IMPROVING GOVERNMENT PROGRAMS AND POLICIES 10,000,000
    COMMUNITY PARTNERS
    1000 NORTH ALAMEDA ST 240
    LOS ANGELES,CA90012     		NONE PC JUST EQUATIONS, AN INITIATIVE TO PROMOTE EQUITY IN MATH EDUCATION 250,000
    DONORSCHOOSE
    134 WEST 37TH ST 11TH FLOOR
    NEW YORK,NY10018     		NONE PC SUPPORT PUBLIC SCHOOL TEACHERS AND EDUCATIONAL PROGRAMS 1,500,000
    EARLY LEARNING SOLUTIONS
    22 PEARCE MITCHELL PLACE
    STANFORD,CA94305     		NONE NC SCALING THE MATH SHELF EARLY CHILDHOOD MATH PROGRAM 277,375
    ENVIRONMENTAL DEFENSE FUND
    257 PARK AVENUE SOUTH
    NEW YORK,NY10010     		NONE PC METHANE, AGRICULTURE, AND CLEAN AIR INITIATIVES 30,000,000
    INTERNATIONAL REFUGEE ASSISTANCE PROJECT
    ONE BATTERY PARK PLAZA 4TH FL
    NEW YORK,NY10004     		NONE PC ADVOCACY FOR REFUGEES AND DISPLACED PERSONS 10,000,000
    LENA FOUNDATION
    5525 CENTRAL AVENUE
    BOULDER,CO80301     		NONE PC SCALING EARLY CHILDHOOD DEVELOPMENT PROGRAMS 2,000,000
    NATIONAL ACADEMY OF SCIENCES
    500 FIFTH STREET NW
    WASHINGTON,DC20001     		NONE GOV DATA LITERACY EDUCATION FIELD-BUILDING INITIATIVE 300,000
    NATIONAL CENTER FOR CIVIC INNOVATION
    121 6TH AVENUE
    NEW YORK,NY10013     		NONE PC SCALING COURSEKATA, A DATA LITERACY EDUCATION INITIATIVE 700,000
    NEW DOOR VENTURES
    3221 20TH STREET
    SAN FRANCISCO,CA94110     		NONE PC WORKFORCE DEVELOPMENT AND EDUCATION PROGRAMS 50,000
    NOORA HEALTH
    2443 FILLMORE ST 380-3203
    SAN FRANCISCO,CA94115     		NONE PC SCALING COMMUNITY-BASED HEALTH CARE PROGRAMS 1,000,000
    STANFORD UNIVERSITY
    485 BROADWAY MAIL CODE 8838
    REDWOOD CITY,CA94063     		NONE PC SCALING YOUCUBED, A DATA LITERACY EDUCATION INITIATIVE 500,000
    TALKINGPOINTS
    509 WEBSTER ST
    SAN FRANCISCO,CA94117     		NONE PC SCALING FAMILY ENGAGEMENT TECHNOLOGY PLATFORM 2,250,000
    TED FOUNDATION
    330 HUDSON ST 11TH FLOOR
    NEW YORK,NY10013     		NONE POF SCALING COLLABORATIVE PHILANTHROPY INITIATIVES 2,000,000
    THE BRIDGESPAN GROUP
    2 COPLEY PLACE NO 3700B
    BOSTON,MA02116     		NONE PC SCALING NONPROFIT ADVISORY SERVICES AND FIELD-BUILDING EFFORTS 3,000,000
    THE CITY FUND
    6312 SEVEN CORNERS CENTER NO 354
    FALLS CHURCH,VA22044     		NONE PC SCALING INNOVATIVE PUBLIC SCHOOL SYSTEMS 25,000,000
    THE CONCORD CONSORTIUM
    25 LOVE LANE
    CONCORD,MA01742     		NONE PC DATA LITERACY EDUCATION RESEARCH AND FIELD-BUILDING INITIATIVE 300,000
    UCSF FOUNDATION
    600 W 16TH STREET GENENTECH HALL
    S374
    SAN FRANCISCO,CA94117     		NONE PC MEDICAL RESEARCH FELLOWS PROGRAM 1,680,000
    UNIVERSITY OF CALIFORNIA LOS ANGELES
    2211 MURPHY HALL
    LOS ANGELES,CA90095     		NONE PC SCALING THE INTRODUCTION TO DATA SCIENCE PROGRAM 700,000
    UNIVERSITY OF CHICAGO
    5801 SOUTH ELLIS AVENUE
    CHICAGO,IL60637     		NONE PC DATA LITERACY EDUCATION FIELD-BUILDING INITIATIVE 500,000
    WHITEHEAD INSTITUTE
    455 MAIN STREET
    CAMBRIDGE,MA02142     		NONE PC MEDICAL RESEARCH FELLOWS PROGRAM 2,900,000
    WIKIMEDIA FOUNDATION
    1 MONTGOMERY ST SUITE 1600
    SAN FRANCISCO,CA94104     		NONE PC PUBLIC INTEREST MEDIA 5,000
    WOODSIDE COMMUNITY FOUNDATION
    PO BOX 620494
    WOODSIDE,CA94062     		NONE PC DEVELOP AND MAINTAIN COMMUNITY TRAILS 10,000
    WOODWELL CLIMATE RESEARCH CENTER
    149 WOODS HOLE RD
    FALMOUTH,MA02540     		NONE PC CLIMATE CHANGE RESEARCH INITIATIVES 6,000,000
    Total .................................bullet 3b 101,997,375
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-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 ...........     		         
    4 Dividends and interest from securities ....          
    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 .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 35,075,865  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 50,541,806 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    50,541,806
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-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 (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 instructions.
    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 (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    VALHALLA FOUNDATION
    EIN:
    20-0478828
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 41,880 10,470   0

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

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    VALHALLA FOUNDATION
    EIN:
    20-0478828
    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
    EARLY LEARNING SOLUTIONS INC
          		22 PEARCE MITCHELL PLACE
    STANFORD,CA94305     		2020-09-29 250,000 PRI LOAN PROVIDED TO SCALE THE MATH SHELF EARLY CHILDHOOD LEARNING PROGRAM FOR LOW INCOME COMMUNITIES. REFER TO STATEMENT 13. 250,000   1/4/21 2021-01-04 THE FOUNDATION CONDUCTED A REVIEW OF THE BORROWER'S EXPENDITURES AND PROGRESS REPORT AND FOUND THEM TO BE IN COMPLIANCE WITH THE TERMS OF THE PRI LOAN AGREEMENT.
    EARLY LEARNING SOLUTIONS INC
          		22 PEARCE MITCHELL PLACE
    STANFORD,CA94305     		2021-01-01 295,110 TO SCALE THE MATH SHELF EARLY CHILDHOOD LEARNING PROGRAM FOR LOW INCOME COMMUNITIES. 295,110   12/08/21 2021-12-08 THE FOUNDATION CONDUCTED A REVIEW OF THE GRANT EXPENDITURES AND GRANTEE REPORTS, AND FOUND THEM TO BE IN COMPLIANCE WITH THE TERMS OF THE GRANT AGREEMENT.
    EARLY LEARNING SOLUTIONS INC
          		22 PEARCE MITCHELL PLACE
    STANFORD,CA94305     		2021-03-15 64,000 TO SCALE THE MATH SHELF EARLY CHILDHOOD LEARNING PROGRAM FOR LOW INCOME COMMUNITIES. 64,000   12/08/21 2021-12-08 THE FOUNDATION CONDUCTED A REVIEW OF THE GRANT EXPENDITURES AND GRANTEE REPORTS, AND FOUND THEM TO BE IN COMPLIANCE WITH THE TERMS OF THE GRANT AGREEMENT.
    TED FOUNDATION
          		330 HUDSON STREET 11TH FLOOR
    NEW YORK,NY10013     		2021-07-30 1,000,000 SCALING COLLABORATIVE PHILANTHROPY INITIATIVES 1,000,000   NONE IN 2021   THE FOUNDATION CONDUCTED A REVIEW OF THE GRANT EXPENDITURES AND GRANTEE REPORTS, AND FOUND THEM TO BE IN COMPLIANCE WITH THE TERMS OF THE GRANT AGREEMENT DURING 2022. THE REPORTS WERE NOT YET AVAILABLE DURING 2021, AS A FULL YEAR HAD NOT PAST SINCE GRANT DATE.

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    VALHALLA FOUNDATION
    EIN:
    20-0478828
    Name of Bond End of Year Book Value End of Year Fair Market Value
    PIMCO LOW DURATION FD-INST 40,474,233 40,474,233
    VANGUARD TOTAL BOND MARKET INDEX FUND-ADM 11,397,238 11,397,238
    VANGUARD TOTAL INTL BND-ADM 133,363,020 133,363,020
    PIMCO HIGH YIELD FUND-INST 56,068,919 56,068,919

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    VALHALLA FOUNDATION
    EIN:
    20-0478828
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ISHARES CORE MSCI EAFE ETF 64,003,651 64,003,651
    JPM BTABLDRS DEV ASIA X-JPN 6,876,948 6,876,948
    JPMORGAN BETABUILDERS CANADA 14,763,235 14,763,235
    JPMORGAN BETABUILDERS EUROPE ETF 41,728,868 41,728,868
    JPMORGAN BETABUILDERS JAPAN ETF 13,674,822 13,674,822
    VANGUARD FTSE EMERGING MARKE 38,418,797 38,418,797
    VANGUARD MID-CAP ETF 42,617,161 42,617,161
    FIDELITY 500 INDEX-INST PRM 273,614,390 273,614,390
    ISHARES CORE MSCI EMERGING 21,084,189 21,084,189

    TY 2021 InvestmentsOtherSchedule2
    Name:
    VALHALLA FOUNDATION
    EIN:
    20-0478828
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    OCTAVE BIOSCIENCE INC FMV 1,642,568 1,642,568
    OWL VENTURES II, LP FMV 4,330,174 4,330,174
    OWL VENTURES III, LP FMV 3,753,181 3,753,181
    PARENTPOWERED FMV 2,516,712 2,516,712
    REACH II, LP FMV 6,926,345 6,926,345
    REACH, LP FMV 5,069,875 5,069,875
    REMIND FMV 2,400,000 2,400,000
    RETHINK EDUCATION II, LP FMV 3,166,451 3,166,451
    THINKCERCA FMV 954,924 954,924
    OWL VENTURES IV LP FMV 3,107,179 3,107,179
    OWL VENTURES OPPORTUNITY FUND I LP FMV 2,294,306 2,294,306
    AT ONE VENTURES FMV 1,813,457 1,813,457
    REACH OPPORTUNITY I, LP FMV 1,015,817 1,015,817
    REACH III, LP FMV 497,511 497,511
    OWL OPPORTUNITY FUND II, LP FMV 498,244 498,244
    MAGNIFY VENTURES FUND I, LP FMV 1,081,417 1,081,417
    DERIVITA FMV 999,999 999,999
    OWL VENTURES V, LP FMV 445,727 445,727

    TY 2021 LegalFeesSchedule
    Name:
    VALHALLA FOUNDATION
    EIN:
    20-0478828
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 11,953 0   7,182


    TY 2021 OtherExpensesSchedule
    Name:
    VALHALLA FOUNDATION
    EIN:
    20-0478828
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SOFTWARE AND SUBSCRIPTIONS 19,949 0   16,776
    POSTAGE 6 0   0
    BANK FEES 155 0   0
    MEMBERSHIP DUES 3,896 0   0


    TY 2021 OtherIncreasesSchedule
    Name:
    VALHALLA FOUNDATION
    EIN:
    20-0478828
    Description Amount
    NET UNREALIZED GAIN 58,953,149


    TY 2021 OtherLiabilitiesSchedule
    Name:
    VALHALLA FOUNDATION
    EIN:
    20-0478828
    Description Beginning of Year - Book Value End of Year - Book Value
    PROVISION FOR TAXES 1,615,495 45,803
    JP MORGAN PEG GLOBAL PRIVATE 0 13,807


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    VALHALLA FOUNDATION
    EIN:
    20-0478828
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CONSULTING FEES 1,860,000 0   1,852,500
    PORTFOLIO SUPPORT SERVICES 67,625 0   57,625
    INVESTMENT MANAGEMENT FEES 1,670,626 1,668,739   0
    DEI CONSULTING 50,000 0   50,000
    FINANCE AND OPERATIONS CONSULTING 11,160 0   0


    TY 2021 TaxesSchedule
    Name:
    VALHALLA FOUNDATION
    EIN:
    20-0478828
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL TAXES 2,626,277 0   0
    STATE REGISTRATION FEES 418 0   0
    FOREIGN TAXES 0 348,325   0