Form990-PF
Click to see attachment
Click to see attachmentClick to see attachment

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 10-01-2021 , and ending 09-30-2022
Name of foundation
Visa Foundation
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)1 Market Street Suite 600
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
San Francisco, CA94105
A Employer identification number

81-4503596
B Telephone number (see instructions)

(800) 839-1754
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$395,627,073J 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 34,740 34,740  
4 Dividends and interest from securities... 6,173,714 6,173,714  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 5,909,783
b Gross sales price for all assets on line 6a 37,487,512
7 Capital gain net income (from Part IV, line 2)... 5,809,876
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 368,732 366,747 201,179
12 Total. Add lines 1 through 11........ 12,486,969 12,385,077 201,179
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 23,100 0 0 23,100
c Other professional fees (attach schedule).... Click to see attachment 1,443,525 873,381   570,144
17 Interest............... 262,530 262,530    
18 Taxes (attach schedule) (see instructions)... Click to see attachment 205,800      
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 1,326,497 1,059,075   264,766
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,261,452 2,194,986 0 858,010
25 Contributions, gifts, grants paid....... 28,077,795 28,077,795
26 Total expenses and disbursements. Add lines 24 and 25 31,339,247 2,194,986 0 28,935,805
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -18,852,278
b Net investment income (if negative, enter -0-) 10,190,091
c Adjusted net income (if negative, enter -0-)... 201,179
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......... 23,395,789 6,356,745 6,356,745
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
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)....... 415,824,921 Click to see attachment389,389,514 347,981,719
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).......... 9,442,882 Click to see attachment22,021,320 25,788,609
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment3,456,265 Click to see attachment15,500,000 Click to see attachment15,500,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 452,119,857 433,267,579 395,627,073
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 452,119,857 433,267,579
29 Total net assets or fund balances (see instructions)..... 452,119,857 433,267,579
30 Total liabilities and net assets/fund balances (see instructions). 452,119,857 433,267,579
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
452,119,857
2
Enter amount from Part I, line 27a .....................
2
-18,852,278
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
433,267,579
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
433,267,579
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      
b Passthrough K1 Capital Gain/(Loss)      
c
d
e
(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 37,487,512   31,854,577 5,632,935
b       176,941
c
d
e
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       5,632,935
b        
c
d
e
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 5,809,876
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  
3 Add lines 1 and 2........................... 3 141,642
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 141,642
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 160,853
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 160,853
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 19,211
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet19,211 RefundedBullet 11  
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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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 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 addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    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)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (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
     
     
    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
     
    No
    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
     
     
    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
     
    No
    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
    Brooke D Arena Sec
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Lynne Biggar Dir
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Frank Cooper Dir
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Michelle Gethers-Clark Dir, Vice Chair
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Beth Hurvitz Dir
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Alfred F Kelly Jr Dir, Chair of the Board
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Najada Kumbuli Head of Mission Investments
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Graham Macmillan Pres, Dir
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Ryan McInerney Dir
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Colleen Ostrowski Treas
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Payal Pathak Program Officer
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Vasant Prabhu Dir
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Bill Sheedy Dir, Chair of the Board
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Kelly Mahon Tullier Dir
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    Robert Meloche Head of Programs
    1.0     		0 0 0
    1 Market Street Suite 600
    San Francisco,CA94105
    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
     
    Total number of other employees paid over $50,000...................bullet  
    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
    Sonen Capital LLC Investment Mgmt 600,000
    456 Montgomery GC1
    San Francisco,CA94104
    Porter Novelli Inc Philanthropic Srvcs 180,000
    PO Box 771633
    St Louis,MO63177
    Foundation Source Administrative 173,400
    55 Walls Drive 3rd Fl
    Fairfield,CT06824
    BBMG Holdings LLC Philanthropic SRVCS 156,500
    20 Jay Street Suite 1012
    Brooklyn,NY11201
    Strategic Impact Advisors LLC 0 84,210
    6511 Griffith Road
    GAITHERSBURG,MD20882
    Total number of others receiving over $50,000 for professional services.............bullet5
    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 ROOT CAPITAL PRI- TO FINANCE COMMUNITY-BASED ENTERPRISES THAT ARE CONSIDERED TO BE PART OF WOMEN IN AGRICULTURE INITIATIVE 4,000,000
    2 SOUTHERN OPPORTUNITY AND RESILIENCE FUND LLC PRI-FACILITATE ECONOMIC RECOVERY OF SMALL BUSINESSES AND NONPROFITS THAT HAVE EXPERIENCED DIRECT ECONOMIC HARDSHIP FROM COVID-19 4,215,382
    All other program-related investments. See instructions.
    3 Click to see attachment 3,828,353
    Total. Add lines 1 through 3.........................bullet12,043,735
    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
    432,952,018
    b
    Average of monthly cash balances.......................
    1b
    10,027,445
    c
    Fair market value of all other assets (see instructions)................
    1c
    15,418,585
    d
    Total (add lines 1a, b, and c).........................
    1d
    458,398,048
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    458,398,048
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    6,875,971
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    451,522,077
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    22,576,104
    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
    22,576,104
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    141,642
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
    18,570
    c
    Add lines 2a and 2b............................
    2c
    160,212
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    22,415,892
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    22,415,892
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    22,415,892
    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 22,415,892
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 8,371,520
    b Total for prior years:2019, 2018, 2017  
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........  
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 40,979,540
    a Applied to 2020, but not more than line 2a 8,371,520
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2021 distributable amount..... 22,415,892
    e Remaining amount distributed out of corpus 10,192,128
    5 Excess distributions carryover applied to 2021.    
    (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 10,192,128
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    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......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    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) .......     		 
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		10,192,128
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021.... 10,192,128
    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).)
    NONE
    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
    2X COLLABORATIVE LIMITED
    55 LUDGATE HILL
    LONDON,ENGLANDEC4M 7JW
    UK     		N/A PC General & Unrestricted 500,000
    AMERICAN HEART ASSOCIATION INC - GREATER BAY ARE
    426 17TH ST STE 300
    OAKLAND,CA94612     		N/A PC To support the American Heart Association's EmPOWERED to Serve Business Accelerator Program 250,000
    AMERICAN NATIONAL RED CROSS
    431 18TH ST NW
    WASHINGTON,DC20006     		N/A PC For support of the South Africa: KZN Floods emergency appeal of to deliver assistance and support early recovery of the people affected by the floods 100,000
    AMERICAN NATIONAL RED CROSS
    1663 MARKET ST
    SAN FRANCISCO,CA94103     		N/A PC For support of the Philippines: Typhoon Rai (Odette) emergency appeal of $20M to deliver assistance and support early recovery of the people affected by Typhoon Rai (Odette) 250,000
    AMERICAN NATIONAL RED CROSS
    431 18TH ST NW
    WASHINGTON,DC20006     		N/A PC Annual Disaster Giving Program 500,000
    AMERICAN NATIONAL RED CROSS
    431 18TH ST NW
    WASHINGTON,DC20006     		N/A PC For support of Pakistan's Monsoon Floods emergency appeal launched on August 28, 2022 to deliver assistance and support early recovery of the people affected by the incessant monsoon rains in Pakistan 250,000
    AMERICAN NATIONAL RED CROSS
    431 18TH ST NW
    WASHINGTON,DC20006     		N/A PC For support of the Bangladesh, Asia Pacific: Floods emergency appeal launched on June 24, 2022, to aid the work of the Bangladesh Red Crescent Society (BDRCS) as it responds to the extreme flooding in Bangladesh 100,000
    ASIAN VENTURE PHILANTHROPY NETWORK LIMITED
    171 TRAS ST 10-179 UNION BLDG
    SINGAPORE   079025
    SN     		N/A PC General & Unrestricted 400,000
    BLACK ECONOMIC ALLIANCE FOUNDATION
    700 13TH ST NW STE 600
    WASHINGTON,DC20005     		N/A PC To support the Center for Black Entrepreneurship 3,000,000
    CATHOLIC CHARITIES OF THE ARCHDIOCESE OF NEW YORK
    1011 1ST AVE 11TH FL
    NEW YORK,NY10022     		N/A PC general support fund 50,000
    CHARITIES AID FOUNDATION AMERICA
    225 REINEKERS LN STE 375
    ALEXANDRIA,VA22314     		N/A PC To support the Visa Foundation Gives Program internationally 1,000,000
    EYELLIANCE INC
    110 E 25TH ST
    NEW YORK,NY10010     		N/A PC To support a new inclusive optical sector for small and growing businesses 150,000
    FIRST PLACE FOR YOUTH
    426 17TH ST STE 100
    OAKLAND,CA94612     		N/A PC To provide core support for housing, education and career readiness programs 500,000
    FSG INC
    179 LINCOLN ST
    BOSTON,MA02111     		N/A PC To support the design phase of the WeFi Code, a World Bank initiative to rally diverse stakeholders around a shared data standard for gender-based financing 350,000
    GLOBAL IMPACT INVESTING NETWORK INC
    1 BATTERY PARK PLAZA STE 202
    NEW YORK,NY10004     		N/A PC To support the Global Impact Investing Network's new initiative to increase the pool of funds dedicated to impact-focused investments by engaging the corporate community as potential impact investors 250,000
    IMPACTASSETS INC
    4340 EAST WEST HWY STE 210
    BETHESDA,MD20814     		N/A PC For support of the GenderSmart Investing Summit at the Founding Partner Level to increasing awareness of gender-lens investment opportunities globally, through an entity such as GenderSmart Investing 200,000
    IMPACTASSETS INC
    4340 EAST WEST HWY STE 210
    BETHESDA,MD20814     		N/A PC For support of fiscally sponsored program, GenderSmart 135,000
    INTERNATIONAL FUND FOR AGRICULTURAL DEVELOPMENT
    VIA PAOLO DI DONO 44
    ROMA   00142
    IT     		N/A PC To support financial inclusion by facilitating access to financial tools; supporting low-income women and women-owned enterprises, and by supporting the development and scaling of sustainable financial services products 584,000
    KIVA MICROFUNDS
    875 HOWARD ST SUITE 340
    SAN FRANCISCO,CA94103     		N/A PC To support the charitable purposes of Kiva by establishing a "for benefit of" Supporter Account held with Kiva User Funds 150,000
    MISSION INVESTORS EXCHANGE INC
    105 W 86TH ST 358
    NEW YORK,NY10024     		N/A PC For support of activities relating to the sponsorship of the Mission Investor Exchange's 2022 National Conference 50,000
    NEW VENTURE FUND
    PO BOX 37734
    BALTIMORE,MD21297     		N/A PC Tipping Point Fund 250,000
    OMPRAKASH INC
    2311 N 45TH ST
    SEATTLE,WA98103     		N/A PC To support the 2022 FLII Conference, which is the Latin American Impact Investing Forum hosted by the New Ventures Group, through an entity such as New Ventures 50,000
    OPPORTUNITY INTERNATIONAL INC
    101 N WACKER DRIVE STE 1150
    CHICAGO,IL60606     		N/A PC To support Women THRIVE Program: Accelerating the Growth of Women-Owned Enterprises and jobs for Women in Africa 1,000,000
    POLICYLINK
    1438 WEBSTER ST STE 303
    OAKLAND,CA94612     		N/A PC Black Future Opportunity, Inc. 1,000,000
    PRO MUJER INC
    240 WEST 35TH ST SUITE 404
    NEW YORK,NY10001     		N/A PC To support the growth of women-led businesses through the provision of holistic services that increase their access to capital 1,800,000
    ROOT CAPITAL INC
    245 MAIN ST 2ND FL
    CAMBRIDGE,MA02142     		N/A PC To support expanding access to capital for gender inclusive agri-SGBs 800,000
    SMITHSONIAN INSTITUTION - NATIONAL MUSEUM OF AFRIC
    PO BOX 418320
    BOSTON,MA02241     		N/A PC to support the NMAAHC mission 200,000
    TECHNOSERVE INC
    1777 N KENT ST SUITE 1100
    ALRINGTON,VA22209     		N/A PC To support the growth of gender diverse, green and agricultural businesses in India and Sub-Saharan Africa 1,800,000
    TIDES CENTER
    PO BOX 399385
    SAN FRANCISCO,CA94139     		N/A PC to help diverse fund managers build their funds and access technical assistance, while creating connections to LPs, through an entity such as VC Include 900,000
    TIPPING POINT COMMUNITY
    220 MONTGOMERY ST STE 850
    SAN FRANCISCO,CA94104     		N/A PC For support of Tipping Point Community's Education, Employment, and Housing investment portfolios 1,000,000
    TIPPING POINT COMMUNITY
    220 MONTGOMERY ST STE 850
    SAN FRANCISCO,CA94104     		N/A PC to address and prevent youth homelessness across the Bay Area 6,800,000
    TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA The Pe
    PO BOX 71332
    PHILADELPHIA,PA19176     		N/A PC For support of Project Sage 4.0 45,000
    UNITED STATES FUND FOR UNICEF
    125 MAIDEN LANE 10TH FL
    NEW YORK,NY10038     		N/A PC To provide support for humanitarian assistance focused on families and children as a result of the crisis in Ukraine, including urgent and escalating needs for safe water, health care, nutrition and protection 2,000,000
    VALUE FOR WOMEN LTD
    86-90 PAUL ST
    LONDON,ENGLANDEC2A 4NE
    UK     		N/A NC Expenditure responsibility Grant 288,000
    WOMENS WORLD BANKING INC
    122 E 42ND ST FL 42
    NEW YORK,NY10168     		N/A PC general support commitment in conjunction with supporting women-led small and micro enterprises 1,375,795
    Total .................................bullet 3a 28,077,795
    bApproved for future payment
    Total .................................bullet 3b  
    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 ...........     		    14 34,740  
    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 ............     		525990 99,907 18 5,809,876  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aK-1 Inc/Loss     		525990 1,985 14 165,568  
    bINTEREST INCOME FROM PRIS         201,179
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 101,892 12,183,898 201,179
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    12,486,969
    (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.)
    11 SIGNIFICANTLY CONTRIBUTED TO THE FOUNDATION'S MISSION OF ADDRESSING THE CAPITAL NEEDS OF ELIGIBLE SMALL BUSINESSES OF CALIFORNIA, AS THEY RE-OPEN AND RECOVER FROM THE COVID-19 PANDEMIC
    11 Further foundation's mission of financing community-based enterprises that are considered to be part of women in agriculture initiative
    11 significantly contributed to foundation's mission of facilitating economic recovery of small businesses and nonprofits that have experienced direct economic hardship from covid-19
    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:
    Visa Foundation
    EIN:
    81-4503596
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Audit Fees 23,100     23,100

    TY 2021 AllOthProgRltdInvestmentsSch
    Name:
    Visa Foundation
    EIN:
    81-4503596
    Category Amount
    CALIFORNIA REBUILDING FUND, LLC PRI- TO ADDRESS THE CAPITAL NEEDS OF ELIGIBLE SMALL BUSINESSES OF CALIFORNIA, AS THEY RE-OPEN AND RECOVER FROM THE COVID-19 PANDEMIC 3,828,353

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

    TY 2021 DepreciationSchedule
    Name:
    Visa Foundation
    EIN:
    81-4503596
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

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

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    Visa Foundation
    EIN:
    81-4503596
    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
    IMPACT ALPHA
          		2009 FRANCISCO STREET
    BERKELEY,CA94709     		2020-01-17 50,000 EDUCATNL PROGRAM & REPORTING WOMEN ECON EMPOWERMENT VIA IMPACT INVESTING ENTREPRENEURSHIP BUS GRWTH 50,000 NO 10/5/21   NONE NECESSARY
    SOUTHERN OPPORTUNITY AND RESILIENCE FUND
          		1825 K STREET NW SUITE 1100
    WASHINGTON,DC20006     		2021-09-07 5,000,000 PRI LOAN-SEE GEN EXP FOR PURPOSE & ADDTL DATES & DETAILS RE AMT EXPENDED & LACK OF DIVERSION   NO SEE GENERAL EXPLANATION ATTACHMENT   THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WAS MADE.
    CALIFORNIA REBUILDING FUND LLC
          		986 MISSION STREET 4TH FLOOR
    San Francisco,CA94103     		2021-09-07 5,500,000 PRI LOAN-SEE GEN EXP FOR PURPOSE & ADDTL DATES & DETAILS RE AMT EXPENDED & LACK OF DIVERSION   NO SEE GENERAL EXPLANATION ATTACHMENT   THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE GRANTEE; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WAS MADE.
    VALUE FOR WOMEN LTD
          		86-90 PAUL ST
    LONDON   EC2A 4NE
    UK     		2022-04-28 288,000 creation & dissemination of insights best practices on gender lens investing & inclusive practices   NO EXPECTED IN 2023   none necessary inclusive business practices

    TY 2021 GeneralExplanationAttachment
    Name:
    Visa Foundation
    EIN:
    81-4503596
    Identifier Return Reference Explanation
    PART I LINE 6A (990-PF) - RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF PART I LINE 6A (990-PF) - RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF TOTAL INCLUDED IN PART IV: (DETAILS BELOW) NET GAIN/(LOSS): $5,809,876 TOTAL NOT INCLUDED IN PART IV: PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - UBI NET GAIN/(LOSS): $99,907 TOTAL PART I, LINE 6A: $5,909,783 DETAILS OF ASSETS INCLUDED IN PART IV: PUBLICLY-TRAIDED SECURITIES GROSS SALES PRICE: $37,487,512 BOOK BASIS: $31,854,577 NET GAIN/(LOSS): $5,632,935 PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - NON UBI NET GAIN/(LOSS): $176,941
    990-PF FOREIGN FILING FORMS DISCLOSURE 990-PF FOREIGN FILING FORMS DISCLOSURE Form 926 The Foundation has prepared this form to the best of its ability based on the limited information provided to it by the investment on which the Foundation is reporting and on the basis of having received no information to the contrary. Any missing or incomplete information is due to the Foundation's inability to obtain such information and is not a willful attempt to withhold such information. Form 5471 The Foundation has prepared this form to the best of its ability based on the limited information provided to it by the investment on which the Foundation is reporting and on the basis of having received no information to the contrary. Any missing or incomplete information is due to the Foundation's inability to obtain such information and is not a willful attempt to withhold such information. FORM 8865 THE FOUNDATION HAS PREPARED THIS FORM TO THE BEST OF ITS ABILITY BASED ON THE LIMITED INFORMATION PROVIDED TO IT BY THE INVESTMENT ON WHICH THE FOUNDATION IS REPORTING AND ON THE BASIS OF HAVING RECEIVED NO INFORMATION TO THE CONTRARY. ANY MISSING OR INCOMPLETE INFORMATION IS DUE TO THE FOUNDATION'S INABILITY TO OBTAIN SUCH INFORMATION AND IS NOT A WILLFUL ATTEMPT TO WITHHOLD SUCH INFORMATION.
    FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY PRI RECIPIENT: SOUTHERN OPPORTUNITY AND RESILIENCE FUND TOTAL PRI AMOUNT SHOWN REPORTED ON FORM 990-PF, PART VI-B, LINE 5D-EXPENDITURE RESPONSIBILITY STATEMENT: $5,000,000 THE TOTAL PRI LOAN AMOUNT REPRESENTS THE AGGREGATE OF SEVERAL DISBURSEMENTS, LISTED BELOW, MADE UNDER A SINGLE PRI LOAN INSTRUMENT. DATES AND AMOUNTS OF PRI PAYMENTS: DATE OF PRI: 09/7/2021 AMOUNT: $784,618 DATE OF PRI: 10/13/2021 AMOUNT: $799,682 DATE OF PRI: 12/23/2021 AMOUNT: $148,934 DATE OF PRI: 03/1/2022 AMOUNT: $96,154 DATE OF PRI: 05/31/2022 AMOUNT: $3,170,612 PURPOSE OF PRI: LENDERS SEEK TO FACILITATE THE ECONOMIC RECOVERY OF SMALL BUSINESSES AND NONPROFITS THAT HAVE EXPERIENCED DIRECT ECONOMIC HARDSHIP AS A RESULT OF THE COVID-19 PANDEMIC THAT HAS MATERIALLY IMPACTED THEIR OPERATIONS, THEREBY ALLEVIATING POVERTY, PROMOTING THE CREATION AND RETENTION OF JOBS, COMBATTING COMMUNITY DETERIORATION, AND PROMOTING ECONOMIC REVITALIZATION OF DISTRESSED COMMUNITIES. REPORTS OF AMOUNTS EXPENDED: SOUTHERN OPPORTUNITY AND RESILIENCE FUND HAS SUBMITTED A FULL AND COMPLETE FINANCIAL REPORT OF THE TYPE ORDINARILY REQUIRED BY COMMERCIAL INVESTORS UNDER SIMILAR CIRCUMSTANCES AND A STATEMENT THAT IT HAS COMPLIED WITH THE TERMS OF THE INVESTMENT FOR THE FOLLOWING FISCAL YEARS: FYE: 12/31/21 DATE OF REPORT: 03/28/23 FYE: 12/31/22 DATE OF REPORT: 03/28/23 THIS INVESTMENT REMAINED ON THE FOUNDATION'S BOOKS AS OF 09/30/2022. DIVERSIONS: TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE INVESTMENT WAS ORIGINALLY MADE.
    FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY PRI RECIPIENT: CALIFORNIA REBUILDING FUND, LLC TOTAL PRI AMOUNT SHOWN REPORTED ON FORM 990-PF, PART VI-B, LINE 5D-EXPENDITURE RESPONSIBILITY STATEMENT: $5,500,000 THE TOTAL PRI LOAN AMOUNT REPRESENTS THE AGGREGATE OF SEVERAL DISBURSEMENTS, LISTED BELOW, MADE UNDER A SINGLE PRI LOAN INSTRUMENT. DATES AND AMOUNTS OF PRI PAYMENTS: DATE OF PRI: 09/7/2021 AMOUNT: $322,564 DATE OF PRI: 9/21/2021 AMOUNT: $432,412 DATE OF PRI: 9/30/2021 AMOUNT: $916,671 DATE OF PRI: 10/5/2021 AMOUNT: $481,434 DATE OF PRI: 10/19/2021 AMOUNT: $566,686 DATE OF PRI: 11/02/2021 AMOUNT: $508,001 DATE OF PRI: 11/16/2021 AMOUNT: $404,426 DATE OF PRI: 11/30/2021 AMOUNT: $225,201 DATE OF PRI: 12/14/2021 AMOUNT: $88,802 DATE OF PRI: 01/12/2022 AMOUNT: $261,185 DATE OF PRI: 01/25/2022 AMOUNT: $223,932 DATE OF PRI: 02/08/2022 AMOUNT: $104,699 DATE OF PRI: 02/22/2022 AMOUNT: $94,894 DATE OF PRI: 03/08/2022 AMOUNT: $177,972 DATE OF PRI: 03/22/2022 AMOUNT: $387,713 DATE OF PRI: 05/03/2022 AMOUNT: $303,408 PURPOSE OF PRI: BORROWER IS SPONSORING A PUBLIC-PRIVATE PROGRAM THAT WILL USE THE PROCEEDS OF FUNDING PROVIDED BY FINANCIAL INSTITUTIONS, INCLUDING THE LENDERS, OTHER PRIVATE INVESTORS, THE STATE OF CALIFORNIA'S INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK AND PHILANTHROPIC INVESTORS AND DONORS FOR THE PURPOSE OF ADDRESSING THE CAPITAL NEEDS OF ELIGIBLE SMALL BUSINESSES OF CALIFORNIA, AS THEY RE-OPEN AND RECOVER FROM THE COVID-19 PANDEMIC. REPORTS OF AMOUNTS EXPENDED: CALIFORNIA REBUILDING FUND, LLC HAS SUBMITTED A FULL AND COMPLETE FINANCIAL REPORT OF THE TYPE ORDINARILY REQUIRED BY COMMERCIAL INVESTORS UNDER SIMILAR CIRCUMSTANCES AND A STATEMENT THAT IT HAS COMPLIED WITH THE TERMS OF THE INVESTMENT FOR THE FOLLOWING FISCAL YEARS: FYE: 12/31/21 DATE OF REPORT: 03/27/23 FYE: 12/31/22 DATE OF REPORT: 03/27/23 THIS INVESTMENT REMAINED ON THE FOUNDATION'S BOOKS AS OF 09/30/2022. DIVERSIONS: TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE INVESTMENT WAS ORIGINALLY MADE.

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    Visa Foundation
    EIN:
    81-4503596
    Name of Stock End of Year Book Value End of Year Fair Market Value
    DODGE & COX FUNDS INTERNATIONA 41,934,088 36,744,792
    PIMCO FUNDS TOTAL RETURN FUND 132,872,873 103,000,654
    VANGUARD ESG US STOCK ETF 176,710,533 166,326,616
    VANGUARD EXTENDED MARKET INDEX 37,872,020 41,909,657

    TY 2021 InvestmentsOtherSchedule2
    Name:
    Visa Foundation
    EIN:
    81-4503596
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    COMMUNITY EM CREDIT FUND I LP   5,118,977 5,659,761
    COVID-19 EMERGING & FRONTIERS   6,000,001 6,132,183
    ELEVAR INDIA V LP   641,719 979,498
    FAIRVIEW FOUNDATIONS EMERGING   5,637,487 8,662,147
    MRI - BORSKI FUND COPERATIEF   1,313,381 917,349
    SEEDSTARS CAPITAL VCC   317,262 276,332
    TRAIL MIX VENTURES FUND II LP   2,992,493 3,161,339

    TY 2021 OtherAssetsSchedule
    Name:
    Visa Foundation
    EIN:
    81-4503596
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PRI - CALIFORNIA REBUILDING FU   5,500,000 5,500,000
    PRI - ROOT CAPITAL - 1.75% - 0   5,000,000 5,000,000
    PRI - SOUTHERN OPPORTUNITY AND   5,000,000 5,000,000


    TY 2021 OtherExpensesSchedule
    Name:
    Visa Foundation
    EIN:
    81-4503596
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 173,400     173,400
    Bank Charges 30 30    
    Foundation Dues & Memberships 90,050     90,050
    K-1 Exp ELEVAR INDIA V LP 58,281 58,274    
    K-1 Exp FAIRVIEW FOUNDATIONS E 722,268 719,619    
    K-1 Exp TRAIL MIX VENTURES FUN 281,152 281,152    
    Registered Agent Fee 516     516
    State or Local Filing Fees 800     800


    TY 2021 OtherIncomeSchedule2
    Name:
    Visa Foundation
    EIN:
    81-4503596
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss COMMUNITY EM CREDIT FUND I LP (MRI) 118,977 118,977  
    K-1 Inc/Loss FAIRVIEW FOUNDATIONS EMERGING MANAGER 45,015 43,030  
    K-1 Inc/Loss TRAIL MIX VENTURES FUND II LP 3,561 3,561  
    Interest Income from PRIS 201,179 201,179 201,179


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    Visa Foundation
    EIN:
    81-4503596
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT SERVICES 873,381 873,381    
    Philanthropic Consulting Srvcs 567,169     567,169
    LOGO DESIGN 2,975     2,975


    TY 2021 TaxesSchedule
    Name:
    Visa Foundation
    EIN:
    81-4503596
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2022 140,100      
    990-PF Extension for 2021 65,700