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 05-01-2021 , and ending 04-30-2022
Name of foundation
RIPPLEWORKS INC
 
Number and street (or P.O. box number if mail is not delivered to street address)889 WINSLOW STREET 501
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
REDWOOD CITY, CA94063
A Employer identification number

46-5604812
B Telephone number (see instructions)

(650) 499-3120
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$1,430,287,040J 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) 400,000
2 Check bullet.............
3 Interest on savings and temporary cash investments 1,771,235 1,771,235  
4 Dividends and interest from securities... 915,730 1,023,264  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 193,027,618
b Gross sales price for all assets on line 6a 816,801,217
7 Capital gain net income (from Part IV, line 2)... 457,891,002
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 438,341 3,414,982 0
12 Total. Add lines 1 through 11........ 196,552,924 464,100,483 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 826,060 82,606 0 746,307
14 Other employee salaries and wages...... 4,478,284 48,366 0 3,826,797
15 Pension plans, employee benefits....... 511,756 5,094 0 449,834
16a Legal fees (attach schedule)......... Click to see attachment 88,943 40,669 0 17,228
b Accounting fees (attach schedule)....... Click to see attachment 100,030 50,015 0 50,015
c Other professional fees (attach schedule).... Click to see attachment 1,068,955 456,032 0 104,015
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 6,870,605 200,198 0 285,475
19 Depreciation (attach schedule) and depletion... 12,491 0 0
20 Occupancy.............. 422,068 0 0 41,896
21 Travel, conferences, and meetings....... 46,652 0 0 33,166
22 Printing and publications.......... 261 0 0 0
23 Other expenses (attach schedule)....... Click to see attachment 971,506 12,485,564 0 414,474
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 15,397,611 13,368,544 0 5,969,207
25 Contributions, gifts, grants paid....... 33,022,870 38,637,788
26 Total expenses and disbursements. Add lines 24 and 25 48,420,481 13,368,544 0 44,606,995
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 148,132,443
b Net investment income (if negative, enter -0-) 450,731,939
c Adjusted net income (if negative, enter -0-)... 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............. 1,359,156 1,337,701 1,337,701
2 Savings and temporary cash investments......... 4,225,688 51,118,650 51,118,650
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.......... 342,805 1,879,872 1,879,872
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 15,808,644 Click to see attachment64,347,126 64,347,126
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).......... 1,095,415,660 Click to see attachment1,299,622,690 1,299,622,690
14 Land, buildings, and equipment: basis bullet190,325
Less: accumulated depreciation (attach schedule) bullet159,670 43,146 30,655 30,655
15 Other assets (describe bullet) Click to see attachment10,353,062 Click to see attachment11,950,346 Click to see attachment11,950,346
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,127,548,161 1,430,287,040 1,430,287,040
Liabilities 17 Accounts payable and accrued expenses.......... 94,056 226,013
18 Grants payable................. 6,683,333  
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment12,550,249 Click to see attachment11,146,712
23 Total liabilities (add lines 17 through 22)......... 19,327,638 11,372,725
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........... 1,108,220,523 1,418,914,315
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)..... 1,108,220,523 1,418,914,315
30 Total liabilities and net assets/fund balances (see instructions). 1,127,548,161 1,430,287,040
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
1,108,220,523
2
Enter amount from Part I, line 27a .....................
2
148,132,443
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
162,561,349
4
Add lines 1, 2, and 3 ..........................
4
1,418,914,315
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
1,418,914,315
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 6000000 SHS OF XRP CRYPTOCURRENCY D 2015-07-27 2021-05-06
b 6666667 SHS OF XRP CRYPTOCURRENCY D 2015-07-27 2021-05-18
c 24000000 SHS OF XRP CRYPTOCURRENCY D 2015-07-27 2021-05-26
d 24000000 SHS OF XRP CRYPTOCURRENCY D 2015-07-27 2021-09-07
e 15900000 SHS OF XRP CRYPTOCURRENCY D 2015-07-27 2021-10-05
20000000 SHS OF XRP CRYPTOCURRENCY D 2015-07-27 2021-11-15
24771042 SHS OF XRP CRYPTOCURRENCY D 2015-07-27 2022-03-31
BLOCKCHAIN CAPITAL IV LP P 2021-05-01 2022-04-30
ARRINGTON XRP CAPITAL FUND, LP P 2021-05-01 2022-04-30
BLOCKCHAIN CAPITAL IV LP P 2020-05-01 2022-04-30
ARRINGTON XRP CAPITAL FUND, LP P 2020-05-01 2022-04-30
ARES CLIMATE INFRASTRUCTURE FUND P 2020-05-01 2022-04-30
PUBLICLY TRADED SECURITIES   2021-05-01 2022-04-30
PRIVATE EQUITY XRP GAIN P 2021-05-01 2022-04-30
(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 9,660,000     9,660,000
b 10,000,000     10,000,000
c 19,200,000     19,200,000
d 24,000,000     24,000,000
e 14,787,000     14,787,000
20,400,000     20,400,000
18,761,138     18,761,138
    2,872 -2,872
81,959,273     81,959,273
30,216,042     30,216,042
151,319,404     151,319,404
12,574     12,574
359,511,546   358,907,343 604,203
76,974,240     76,974,240
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       9,660,000
b       10,000,000
c       19,200,000
d       24,000,000
e       14,787,000
      20,400,000
      18,761,138
      -2,872
      81,959,273
      30,216,042
      151,319,404
      12,574
      604,203
      76,974,240
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 2 457,891,002
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 6,265,174
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 6,265,174
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 8,005,879
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 8,005,879
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 198
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 1,740,507
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet1,740,507 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
     
    No
    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 addressbulletWWW.RIPPLEWORKS.ORG
    14
    The books are in care ofbulletJOHN CARROLL Telephone no.bullet (415) 706-7220

    Located atbullet889 WINSLOW STREETREDWOOD CITYCA ZIP+4bullet94063
    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? .................
    16Yes  
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bulletUK, HK
    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)
    Yes
     
    (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
    DOUG GALEN PRESIDENT/CEO
    40.00     		782,361 43,698 0
    889 WINSLOW STREET SUITE 501
    REDWOOD CITY,CA94063
    CHRISTIAN LARSEN SECRETARY/TREASURER
    1.00     		0 0 0
    889 WINSLOW STREET SUITE 501
    REDWOOD CITY,CA94063
    ANUSHKA RATNAYAKE BOARD MEMBER
    1.00     		0 0 0
    889 WINSLOW STREET SUITE 501
    REDWOOD CITY,CA94063
    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
    TIM KUNIHIRO MANAGING DIRECTOR, V
    40.00     		268,731 40,291 0
    889 WINSLOW STREET SUITE 501
    REDWOOD CITY,CA94063
    SARAH BURCH SENIOR PORTFOLIO MAN
    40.00     		283,467 20,896 0
    889 WINSLOW STREET SUITE 501
    REDWOOD CITY,CA94063
    AYESHA WAGLE HEAD OF INVESTMENTS
    40.00     		262,111 32,863 0
    889 WINSLOW STREET SUITE 501
    REDWOOD CITY,CA94063
    SUNG HAE KIM CHIEF PEOPLE PERSON
    40.00     		241,100 18,715 0
    889 WINSLOW STREET SUITE 501
    REDWOOD CITY,CA94063
    LINDSAY BLODGETT SENIOR DIRECTOR, LEA
    40.00     		211,181 14,596 0
    889 WINSLOW STREET SUITE 501
    REDWOOD CITY,CA94063
    Total number of other employees paid over $50,000...................bullet 24
    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
    GROUND FLOOR PUBLIC AFFAIRS CONSULTING, COMMUNICATION AND MESSAGING SERVICES 180,000
    58 2ND STREET 4TH FLOORS
    SAN FRANCISCO,CA94105
    FORSHAY INC RECRUITING SERVICES 111,165
    PO BOX 1266
    LAFAYETTE,CA94549
    BPM LLP ACCOUNTING SERVICES 100,030
    1 CALIFORNIA ST 2500
    SAN FRANCISCO,CA94111
    CANOPY GLOBAL LLC RESEARCH SERVICES 100,000
    2812 13TH ST NW APT 1
    WASHINGTON,DC20009
    DAVIS WRIGHT TREMAINE LLP LEGAL SERVICES 56,657
    505 MONTGOMERY STREET
    SAN FRANCISCO,CA94111
    Total number of others receiving over $50,000 for professional services.............bullet1
    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 RIPPLEWORKS EXISTS TO SOLVE PROBLEMS THAT MATTER. EVERYTHING WE DO IS INTENDED TO UNLEASH PEOPLE'S POTENTIAL TO IMPROVE LIVES. THAT IS WHY RIPPLEWORKS PARTNERS WITH SOCIAL VENTURES ON SHORT-TERM, HIGH IMPACT PROJECTS THAT TACKLE KEY OPERATIONAL CHALLENGES TO HELP VENTURES DELIVER IMPACT AT SCALE. RIPPLEWORKS HELPS TO IDENTIFY A CRITICAL CHALLENGE, PROVIDES AN EXPERT WHO KNOWS HOW TO SOLVE IT AND MANAGES THE PROJECT WITH UNCOMPROMISING COMMITMENT. 3,721,311
    2 CAPITAL INVESTS IN HIGH-GROWTH SOCIAL VENTURES TO HELP SCALE THEIR IMPACT AND IMPROVE MORE LIVES. 975,445
    3 LEADERS STUDIO BRINGS TOGETHER PRACTICAL EXPERIENCE AND EFFECTIVE LEARNING METHODS TO BUILD AND DELIVER LEARNING PROGRAMS TO LEADERS ACROSS THE GLOBE. 715,134
    4 MARKETING HELPS THE RIPPLEWORKS TEAM TO ACHIEVE IMPACT BY PARTICIPATING IN INDUSTRY CONVENINGS/EVENTS TO INFLUENCE OTHERS IN THE NONPROFIT ECOSYSTEM BY SHARING OUR LEARNINGS AND ADVOCATING FOR WAYS THE SECTOR CAN BETTER SUPPORT IMPACTFUL SOCIAL VENTURES. 507,300
    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 CLINICA DEL AZUCAR, S.A.P.I. DE C.V.FUND BORROWER'S WORK TO IMPROVE ACCESS TO HEALTHCARE AND HEALTH OUTCOMES FOR LOW-INCOME POPULATIONS IN MEXICO. 2,000,000
    2 MYAGROGENERAL SUPPORT 1,500,000
    All other program-related investments. See instructions.
    3 Click to see attachment 500,000
    Total. Add lines 1 through 3.........................bullet4,000,000
    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
    229,285,938
    b
    Average of monthly cash balances.......................
    1b
    15,390,559
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,215,628,359
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,460,304,856
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) Click to see attachment.............
    1e
    3,017,495,392
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    1,460,304,856
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    21,904,573
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    1,438,400,283
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    71,920,014
    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
    71,920,014
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    6,265,174
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
    121,774
    c
    Add lines 2a and 2b............................
    2c
    6,386,948
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    65,533,066
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    1,500,000
    5
    Add lines 3 and 4............................
    5
    67,033,066
    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
    67,033,066
    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 67,033,066
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 14,742,602
    b Total for prior years:20, 20, 20 0
    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 ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 48,606,995
    a Applied to 2020, but not more than line 2a 14,742,602
    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..... 33,864,393
    e Remaining amount distributed out of corpus 0
    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 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 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 ..........     		33,168,673
    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) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    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....  
    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
    2014-05-01
    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).)
    CHRISTIAN LARSEN
    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
    MERCY CORPS
    45 SW ANKENY STREET
    PORTLAND,OR97204     		N/A PC TO IMPROVE ACCESS TO AND USE OF RESPONSIBLE FINANCIAL SERVICES TO DRIVE FINANCIAL INCLUSION FOR UNDERSERVED POPULATIONS. 1,800,000
    THE SFCDMA COMMUNITY FUND
    58 WEST PORTAL AVE 2ND FLOOR
    SAN FRANCISCO,CA94127     		N/A PC TO STIMULATE AND SUPPORT ECONOMIC DEVELOPMENT IN ECONOMICALLY DEPRESSED URBAN AREAS OF SAN FRANCISCO INHABITED BY DISADVANTAGED GROUPS. 875,000
    ARMMAN FCRA
    303-B ALPHA MAIN STREET HIRANANDANI
    BUSINESS PARK POWAI
    MUMBAI   400076
    IN     		N/A NC GENERAL SUPPORT 500,000
    INTEGRATE HEALTH
    PO BOX 605 MEDWAY
    MEDWAY,MA02053     		N/A PC GENERAL SUPPORT 2,000,000
    HUMANITARIAN OPEN STREETMAP TEAM
    1110 VERMONT AVENUE NW SUITE 500
    WASHINGTON,DC20005     		N/A PC GENERAL SUPPORT 400,000
    EDUCATE
    PO BOX 12302
    DENVER,CO80212     		N/A PC GENERAL SUPPORT 500,000
    SANERGY INC
    PO BOX 550288
    ATLANTA,GA30355     		N/A PC GENERAL SUPPORT 500,000
    FLORECIENDO (DBA OAKLAND BLOOM)
    1721 BROADWAY SUITE 201
    OAKLAND,CA94612     		N/A PC GENERAL SUPPORT 50,000
    MAITRI
    PO BOX 697
    SANTA CLARA,CA95052     		N/A PC GENERAL SUPPORT 50,000
    POLITICAL ASYLUM IMMIGRATION REPRESENTATION (PAIR) PROJECT
    98 NORTH WASHINGTON STREET SUITE
    106
    BOSTON,MA02114     		N/A PC GENERAL SUPPORT 50,000
    CENTER FOR EMPOWERING REFUGEES AND IMMIGRANTS
    544 INTERNATIONAL BLVD 9
    OAKLAND,CA94606     		N/A PC GENERAL SUPPORT 50,000
    SERVICES IMMIGRATION RIGHTS & EDUCATION NETWORK (SIREN)
    1415 KOLL CIRCLE SUITE 108
    SAN JOSE,CA95112     		N/A PC GENERAL SUPPORT 50,000
    GLOBAL HEALTH CORPS INC
    318 W 29TH ST ROOM 9L
    NEW YORK,NY10018     		N/A PC GENERAL SUPPORT 2,500,000
    FARMERLINE LIMITED
    4 ALAJAO AVENUE DZORWULU
    ACCRA    
    GH     		N/A NC FOR FARMERLINE'S TALENT PROJECT TO SCALE THE COMPANY'S IMPACT ACROSS WEST AFRICA 500,000
    MUSO INC
    3254 19TH ST 2ND FLOOR
    SAN FRANCISCO,CA94110     		N/A PC GENERAL SUPPORT 500,000
    STRONGMINDS
    515 VALLEY ST SUITE 200
    MAPLEWOOD,NJ07040     		N/A PC GENERAL SUPPORT 1,500,000
    MYAGRO
    130 7TH AVE 160
    NEW YORK,NY10011     		N/A PC GENERAL SUPPORT 3,000,000
    CODE FOR AMERICA
    972 MISSION ST 5TH FLOOR
    SAN FRANCISCO,CA94103     		N/A PC GENERAL SUPPORT 3,000,000
    INTERNATIONAL REFUGEE ASSISTANCE PROJECT
    ONE BATTERY PARK PLAZA 4TH FLOOR
    NEW YORK,NY10004     		N/A PC GENERAL SUPPORT 2,000,000
    NOORA HEALTH
    2443 FILLMORE SF 380-3203
    SAN FRANCISCO,CA94115     		N/A PC GENERAL SUPPORT 3,500,000
    BRAC USA
    110 WILLIAM STREET 18TH FLOOR
    NEW YORK,NY10038     		N/A PC TO ACCELERATE BRAC'S WORK TO ENABLE GOVERNMENT ADOPTION AND SCALE OF THE GRADUATION APPROACH, LIFTING 4.6M HOUSEHOLDS (APPROX. 21M PEOPLE) OUT OF ULTRA POVERTY AND PULLING MILLIONS MORE ON THE PATH. 833,335
    CENTER FOR TECHNOLOGY & CIVIC LIFE
    233 N MICHIGAN AVE STE 1850
    CHICAGO,IL60601     		N/A PC GENERAL SUPPORT 2,000,000
    HUMANITARIAN OPEN STREETMAP TEAM
    1110 VERMONT AVENUE NW SUITE 500
    WASHINGTON,DC20005     		N/A PC GENERAL SUPPORT 1,200,000
    ONE ACRE FUND US
    81 PROSPECT STREET
    BROOKLYN,NY11201     		N/A PC GENERAL SUPPORT 1,600,000
    SUPPORTING INITIATIVES TO REDISTRIBUTE UNUSED MEDICINE (SIRUM)
    3000 EL CAMINO REAL BLDG 4 NO 200
    PALO ALTO,CA94306     		N/A PC GENERAL SUPPORT 2,400,000
    ROOT CAPITAL
    245 MAIN ST 2ND FLOOR
    CAMBRIDGE,MA02142     		N/A PC GENERAL SUPPORT 500,000
    ARMMAN FCRA
    303-B ALPHA MAIN STREET HIRANANDANI
    BUSINESS PARK POWAI
    MUMBAI   400076
    IN     		N/A NC GENERAL SUPPORT 500,000
    SAVELIFE FOUNDATION
    200E 61ST ST SUITE 35AB
    NEW YORK,NY10065     		N/A PC GENERAL SUPPORT 750,000
    MEDIC MOBILE
    2443 FILLMORE SF 380-8233
    SAN FRANCISCO,CA94115     		N/A PC GENERAL SUPPORT 500,000
    NEW VENTURE FUND
    1201 CONNECTICUT AVE NW SUITE 300
    WASHINGTON,DC20036     		N/A PC 92.5% WILL BE CONTRIBUTED TO THE CO-IMPACT POOLED FUND TO BE USED TOWARD THE INITIATIVES, AND 7.5% WILL BE USED AS A MANAGEMENT FEE TOWARD MANAGEMENT OF THE COMMUNITY AND CO-IMPACTS OPERATIONS. 250,000
    PIVOT WORKS INC
    75 N MAIN ST 2075
    RANDOLPH,MA02368     		N/A PC GENERAL SUPPORT 1,500,000
    LAWNDALE CHRISTIAN LEGAL CENTER
    1530 SOUTH HAMLIN
    CHICAGO,IL60623     		N/A PC GENERAL SUPPORT 25,000
    CENTER FOR YOUNG WOMENS DEVELOPMENT DBA YOUNG WOMENS FREEDOM CENTER
    832 FOLSOM ST SUITE 700
    SAN FRANCISCO,CA94107     		N/A PC GENERAL SUPPORT 50,000
    THE MOSAIC PROJECT
    478 SANTA CLARA AVE SUITE 200
    OAKLAND,CA94610     		N/A PC GENERAL SUPPORT 50,000
    DESTINY ARTS CENTER
    970 GRACE AVE OAKLAND
    OAKLAND,CA94608     		N/A PC GENERAL SUPPORT 50,000
    LIFT INC
    999 N CAPITOL STREET NE SUITE 130
    WASHINGTON,DC20002     		N/A PC GENERAL SUPPORT 25,000
    AHMSA
    6304 230TH ST SW
    MOUNTAINLAKE TERRACE,WA98043     		N/A PC GENERAL SUPPORT 50,000
    GLOBAL HEALTH CORPS INC
    318 W 29TH ST ROOM 9L
    NEW YORK,NY10018     		N/A PC GENERAL SUPPORT 500,000
    DIGITAL GREEN FOUNDATION
    650 CALIFORNIA ST 7TH FLOOR
    SAN FRANCISCO,CA94108     		N/A PC GENERAL SUPPORT 2,000,000
    INTEGRATE HEALTH
    PO BOX 605
    MEDWAY,MA02053     		N/A PC GENERAL SUPPORT 500,000
    AKAA PROJECT
    136 LINCOLN ROAD
    WAYLAND,MA01778     		N/A PC GENERAL SUPPORT 2,060
    BEAM
    PO BOX 702
    CULVER CITY,CA90232     		N/A PC GENERAL SUPPORT 21
    BLACK MAMAS MATTER ALLIANCE
    1237 RALPH DAVID ABERNATHY BLVD
    ATLANTA,GA30310     		N/A PC GENERAL SUPPORT 21
    BOYS AND GIRLS CLUB OF THE PENINSULA
    401 PIERCE RD
    MENLO PARK,CA94025     		N/A PC GENERAL SUPPORT 50
    BRAC USA
    110 WILLIAM STREET 18TH FLOOR
    NEW YORK,NY10038     		N/A PC GENERAL SUPPORT 21
    CODE FOR AMERICA LABS
    972 MISSION ST FLOOR 5
    SAN FRANCISCO,CA94103     		N/A PC GENERAL SUPPORT 21
    COLOR OF CHANGE
    1714 FRANKLIN ST STE 100 136
    OAKLAND,CA94612     		N/A PC GENERAL SUPPORT 100
    CROSSROADS FUND
    3411 W DIVERSEY AVE 20
    CHICAGO,IL60647     		N/A PC GENERAL SUPPORT 100
    DEFY VENTURES
    5 PENN PLAZA 19TH FLOOR
    NEW YORK,NY10001     		N/A PC GENERAL SUPPORT 689
    DONORSCHOOSE
    134 W 37TH ST FLOOR 11
    NEW YORK,NY10018     		N/A PC GENERAL SUPPORT 1,767
    FAIR TRADE USA
    101 MONTGOMERY ST SUITE 1700
    SAN FRANCISCO,CA94014     		N/A PC GENERAL SUPPORT 20
    GIRLS GARAGE
    1380 10TH STREET
    BERKELEY,CA94710     		N/A PC GENERAL SUPPORT 103
    GIRLS ON THE RUN OF THE ROCKIES
    134 W 37TH ST FLOOR 11
    NEW YORK,NY10018     		N/A PC GENERAL SUPPORT 104
    GLOBAL HEALTH CORPS
    318 W 29TH ST ROOM 9L
    NEW YORK,NY10018     		N/A PC GENERAL SUPPORT 21
    HEALTHY LEARNERS
    2711 MIDDLEBURG DR
    COLUMBIA,SC29204     		N/A PC GENERAL SUPPORT 20
    HUMANITARIAN OPEN STREETMAP TEAM
    1110 VERMONT AVENUE NW SUITE 500
    WASHINGTON,DC20005     		N/A PC GENERAL SUPPORT 21
    KERES CHILDREN'S LEARNING CENTER
    PO BOX 113
    COCHITI PUEBLO,NM87072     		N/A PC GENERAL SUPPORT 1,000
    KING BAUDOUIN FOUNDATION UNITED STATES
    551 5TH AVE SUITE 2400
    NEW YORK,NY10176     		N/A PC GENERAL SUPPORT 10,300
    KPBS PUBLIC BROADCASTING
    5200 CAMPANILE DR
    SAN DIEGO,CA92182     		N/A PC GENERAL SUPPORT 200
    LA COCINA
    2948 FOLSOM ST
    SAN FRANCISCO,CA94110     		N/A PC GENERAL SUPPORT 312
    LITTLE VILLAGE ENVIRONMENTAL JUSTICE ORG
    2445 S SPAULDING AVE
    CHICAGO,IL60623     		N/A PC GENERAL SUPPORT 53
    LUMINOS FUND
    71 COMMERCIAL STREET 232
    BOSTON,MA02109     		N/A PC GENERAL SUPPORT 100
    MA FOUNDATION FOR THE FUTURE
    MENLO-ATHERTON HIGH SCHOOL
    MENLO PARK,CA94026     		N/A PC GENERAL SUPPORT 2,000
    MY BLOCK MY HOOD MY CITY
    47 W POLK ST STE 100-260
    CHICAGO,IL60605     		N/A PC GENERAL SUPPORT 52
    NATIONAL PARK FOUNDATION
    1500 K STREET NW SUITE 700
    WASHINGTON,DC20005     		N/A PC GENERAL SUPPORT 100
    NEW DOOR VENTURES
    3221 20TH ST
    SAN FRANCISCO,CA94110     		N/A PC GENERAL SUPPORT 375
    NEXLEAF ANALYTICS
    1964 WESTWOOD BLVD STE 410
    LOS ANGELES,CA90016     		N/A PC GENERAL SUPPORT 26
    NOORA HEALTH
    2443 FILLMORE ST 380-3203
    SAN FRANCISCO,CA94115     		N/A PC GENERAL SUPPORT 20
    OAKLAND BLOOM
    1721 BROADWAY
    OAKLAND,CA94612     		N/A PC GENERAL SUPPORT 500
    PENINSULA FAMILY SERVICE
    24 SECOND AVENUE
    SAN MATEO,CA94401     		N/A PC GENERAL SUPPORT 1,250
    PLANNED PARENTHOOD
    1522 BUSH ST
    SAN FRANCISCO,CA94109     		N/A PC GENERAL SUPPORT 100
    PTA GEORGE PEABODY ELEMENTARY SCHOOL
    251 6TH AVE
    SAN FRANCISCO,CA94118     		N/A PC GENERAL SUPPORT 1,491
    SAN FRANCISCO-MARIN FOOD BANK
    900 PENNSYLVANIA AVE
    SAN FRANCISCO,CA94107     		N/A PC GENERAL SUPPORT 103
    SHE SHOULD RUN
    80 M STREET SE FLOOR 1
    WASHINGTON,DC20005     		N/A PC GENERAL SUPPORT 621
    SOGOREA TE' LAND TRUST
    2501 HARRISON ST
    OAKLAND,CA94612     		N/A PC GENERAL SUPPORT 309
    SOUTHERN POVERTY LAW CENTER
    400 WASHINGTON AVE
    MONTGOMERY,AL36104     		N/A PC GENERAL SUPPORT 300
    THE CALIFORNIA STATE UNIVERSITY SAN MARCOS FOUNDATION
    333 S TWIN OAKS VALLEY RD
    SAN MARCOS,CA92096     		N/A PC GENERAL SUPPORT 40
    THE LUMINOS FUND
    71 COMMERCIAL STREET 232
    BOSTON,MA02109     		N/A PC GENERAL SUPPORT 26
    THE MOSAIC PROJECT
    478 SANTA CLARA AVE SUITE 200
    OAKLAND,CA94610     		N/A PC GENERAL SUPPORT 1,500
    THE MOTH
    75 BROAD ST 26TH FLOOR
    NEW YORK,NY10004     		N/A PC GENERAL SUPPORT 150
    THE MOYO FOUNDATION
    11130 VERNON RD APT C
    LAKE STEVENS,WA98258     		N/A PC GENERAL SUPPORT 2,493
    THE WAYNE STINCHCOMB BIG ORANGE FOUNDATION
    9628 OAKDALE AVE
    BALTIMORE,MD21234     		N/A PC GENERAL SUPPORT 200
    THORN
    1240 ROSECRANS AVE 120
    MANHATTEN BEACH,CA90266     		N/A PC GENERAL SUPPORT 22
    UBONGO
    6615 VAUGHT RANCH RD
    AUSTIN,TX78730     		N/A PC GENERAL SUPPORT 21
    UNITED HELP UKRAINE
    PO BOX 83426
    GAITHERSBURG,MD20878     		N/A PC GENERAL SUPPORT 50
    VOICE OF WITNESS
    849 VALENCIA ST
    SAN FRANCISCO,CA94110     		N/A PC GENERAL SUPPORT 250
    WTTW WFMT
    5400 N SAINT LOUIS AVE
    CHICAGO,IL60625     		N/A PC GENERAL SUPPORT 150
    YOSEMITE CONSERVANCY
    101 MONTGOMERY STREET SUITE 2450
    SAN FRANCISCO,CA94104     		N/A PC GENERAL SUPPORT 100
    HANDS ON HARTFORD
    55 BARTHOLOMEW AVE
    HARTFORD,CT06106     		N/A PC GENERAL SUPPORT 100
    Total .................................bullet 3a 38,637,788
    bApproved for future payment
    Total .................................bullet 3b 0
    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 1,771,235  
    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 ............     		    18 193,027,618  
    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) .. 0 195,745,061 407,863
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    196,152,924
    (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.)
    1 INTEREST ON PROGRAM-RELATED INVESTMENTS
    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
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    RIPPLEWORKS INC
     
    Employer identification number

    46-5604812
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    RIPPLEWORKS INC
          		Employer identification number
    46-5604812
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    SILICON VALLEY COMMUNITY FOUNDATION
     
    2440 W EL CAMINO REAL STE 300
     
    MOUNTAIN VIEW, CA94040

    		$ 250,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    FIDELITY CHARITABLE
    PO BOX 770001
     
    CINCINNATI, OH45277

    		$ 150,000


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

    		$  


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

    		$  


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

    		$  


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

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    RIPPLEWORKS INC
          		Employer identification number

    46-5604812
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    RIPPLEWORKS INC
          		Employer identification number

    46-5604812
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 100,030 50,015 0 50,015

    TY 2021 AllOthProgRltdInvestmentsSch
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Category Amount
    NEXLEAF ANALYTICS TO FUND COSTS AND EXPENSES OF RAW MATERIALS FOR MANUFACTURING, PRODUCTION AND RELAED COSTS AND EXPENSES ASSOCIATED WITH FULFILLING PURCAHSE ORDERS FOR BORROWER'S VACCINE COLD CHAIN TEMPERATURE MONITORING TECHNOLOGY AND RELATED TO PRODUCTS IN LOW-RESOURCE ENVIRONMENTS. 500,000

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

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    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
    ZOONA TRANSACTIONS INTERNATIONAL LTD
          		DE WATERKANT BUILDING 9 SOMERSET
    ROAD 3RD FLOOR
    CAPE TOWN   8001
    SF     		2018-08-31 3,000,000 DIRECT INVESTEMENT PRI - THE COMPANY SHALL USE THE PROCEEDS FROM THE INVESTMENT TO RELIEVE THE POOR AND UNBANKED BY DESIGNING AND OFFERING ACCESSIBLE, AFFORDABLE MOBILE FINANCIAL SERVICES FOR THE POOR (AS DEFINED BELOW) IN COUNTRIES THAT THE UNITED NATIONS HAS DESIGNATED "LEAST DEVELOPED COUNTRIES," FOR THE CHARITABLE PURPOSES DESCRIBED IN THIS SECTION I AND SUBJECT TO THE RESTRICTIONS CONTAINED IN THIS AGREEMENT. THE CHARITABLE PURPOSES OF THE INVESTMENT ARE TO IMPROVE FINANCIAL LITERACY AND FINANCIAL HEALTH FOR THE POOR AND UNBANKED IN LEAST DEVELOPED COUNTRIES IN WHICH THE COMPANY AND/OR ITS SUBSIDIARIES OPERATE BY ENABLING THE COMPANY TO DEVELOP ITS BUSINESS OF DESIGNING AND OFFERING ACCESSIBLE, AFFORDABLE MOBILE FINANCIAL SERVICES FOR THE POOR IN AN ECONOMICALLY SELF-SUSTAINING MANNER,THUS CATALYZING THE DEVELOPMENT OF A MOBILE FINANCIAL SERVICES INDUSTRY THAT WILL HELP THE POOR ACQUIRE AND MANAGE THE ASSETS NECESSARY TO BRING THEM OUT OF POVERTY. 3,000,000   12/6/18, 5/7/19, 8/2/19, 8/5/19, 12/31/20, 12/31/21    
    BABBAN GONA FARMER SERVICES NIGERIA LIMITED
          		PLOT 4B BLOCK 113 PROF OLAGOKE
    OLABISI STREET
    LAGOS    
    NI     		2020-01-06 3,000,000 DIRECT LOAN PRI - FOR THE PROVISION OF INPUTS, INCLUDING SEEDS AND FERTILIZER FOR THE 2020 PLANTING SEASON 3,000,000   9/30/20, 6/12/22    
    PENDA HEALTH LIMITED
          		PO BOX 22647
    NAIROBI    
    KE     		2020-02-03 1,680,000 DIRECT LOAN PRI - FOR THE PURPOSE OF OPERATING ITS FACILITIES, HIRING STAFF FOR THEFACILITIES, PURCHASING EQUIPMENT AND/OR SUPPLIES NEEDED FOR THE FACILITIES, AND FOR GENERAL WORKING CAPITAL FOR THE FACILITIES, ALL EXCLUSIVELY FOR THE PURPOSE OF IMPROVING ACCESS AND HEALTH OUTCOMES FOR LOW INCOME INDIVIDUALS IN KENYA. 1,680,000   12/31/20, 3/31/22    
    FARMERLINE LIMITED
          		4TH ALAJO AVE
    ACCRA    
    GH     		2020-08-11 1,000,000 DIRECT LOAN PRI - FOR FUNDING WORKING CAPITAL NEEDS OF DIRECT FARMER SERVICES, IN WHICH BORROWER PROVIDES SMALLHOLDER FARMERS IN RURAL GHANA WITH ACCESS TO INPUTS, INFORMATION, SUPPLY CHAINS AND TRAINING AND TO PROVIDE INNOVATIVE MOBILE TECHNOLOGY TO SUCH FARMERS TO TURN THEM INTO SUCCESSFUL ENTREPRENEURS. 1,000,000   12/31/20, 3/01/22    
    SOKO INC
          		1242 MARKET ST 2ND FLOOR
    SAN FRANCISCO,CA94102     		2020-12-23 1,000,000 DIRECT LOAN PRI - FOR THE PURPOSE OF DESIGNING, PRODUCING AND SELLING SUSTAINABLE JEWELRY, AND IN DOING SO, WILL CREATE WORK FOR APPROXIMATELY 2,300 ARTISANS IN SOKO'S NETWORK. ADDITIONALLY, SOKO WILL UTILIZE FUNDING FOR WORKING CAPITAL TO ENSURE ITS ARTISANS CAN PURCHASE REQUIRED RAW MATERIALS AND EQUIPMENT WHEN NEEDED. 1,000,000   12/31/20, 3/01/22    
    ARMMAN FCRA
          		SECOND FLOOR ADVANCE HOUSE PLOT-A
    ARK INDUSTRIA
    MUMBAI   400055
    IN     		2020-09-16 1,000,000 FOR GENERAL SUPPORT TO HELP ARMMAN SUPPORT THE DELIVERY OF HEALTHCARE INFORMATION TO MOTHERS ACROSS INDIAIN AN ATTEMPT TO REDUCE COMPLICATIONS DURING CHILDBIRTH 431,350   3/31/21, 3/31/22    
    CLINICA DEL AZUCAR SAPI DE CV
          		LOS ROSALES 335 COL SANTA ENGRACIA
    SAN PEDRO
    GARZA GARCIA   66260
    MX     		2021-10-04 2,000,000 DIRECT LOAN PRI - FUND BORROWER'S WORK TO IMPROVE ACCESS TO HEALTHCARE AND HEALTH OUTCOMES FOR LOW-INCOME POPULATIONS IN MEXICO. 864,627   12/31/21    
    FARMERLINE LIMITED
          		4TH ALAJO AVE
    ACCRA    
    GH     		2021-10-22 500,000 FOR THE PURPOSE OF THE GRANT IS TO FUND THE GRANTEE'S TALENT PROJECT. THE PURPOSE OF THE PROJECT IS TO FORMALIZE THE GRANTEE'S PEOPLE UNIT TO SCALE THE COMPANY'S IMPACT AND BUSINESS ACROSS WEST AFRICA, MAKE STRATEGIC AND CATALYTIC HIRESFOR THE MIDDLE MANAGEMENT TEAM, SETTING UP FARMERLINE UNIVERSITY FOR PROFESSIONAL DEVELOPMENT AND SETTING UP FARMERLINE'S MIDDLE-LEVEL MANAGEMENT TEAM FOR CAREER PROGRESSION. 0   3/1/22    
    ARMMAN FCRA
          		SECOND FLOOR ADVANCE HOUSE PLOT-A
    ARK INDUSTRIA
    MUMBAI   400055
    IN     		2021-12-14 500,000 FOR THE PURPOSE OF FUNDING THE GRANTEE'S TALENT PROJECT. THE PURPOSE OF THE TALENT PROJECT IS TO CREATE A FELLOWSHIP PROGRAM TO SOURCE , TRAIN, AND UPSKILL NEW TALENT, TO DEVELOP AN EFFECTIVE LEADERSHIP TRAINING PROGRAM FOR MID AND SENIOR LEVEL MANAGERS, TO EXTEND EMPLOYEE BENEFITS AND TO HIRE FOR NON-PROGRAMMATIC POSITIONS. 63,592   3/31/22    

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Name of Stock End of Year Book Value End of Year Fair Market Value
    MORGAN STANLEY 64,347,126 64,347,126

    TY 2021 InvestmentsOtherSchedule2
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    XRP HOLDINGS FMV 376,841,972 376,841,972
    ARRINGTON CAPITAL FUND, LP FMV 561,811,347 561,811,347
    BLOCKCHAIN CAPITAL IV, LP FMV 118,227,526 118,227,526
    MORGAN STANLEY INVESTMENTS FMV 212,691,814 212,691,814
    INTEREST RECEIVABLE FMV 307,960 307,960
    ZOONA TRANSACTIONS LTD FMV 3,516,456 3,516,456
    STONECASTLE FMV 20,002,778 20,002,778
    MICROVEST SHORT DURATION FUND FMV 5,016,075 5,016,075
    ALTERNATIVE INVESTMENTS FMV 1,206,762 1,206,762

    TY 2021 LegalFeesSchedule
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL 88,943 40,669 0 17,228


    TY 2021 OtherAssetsSchedule
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    DEPOSITS 75,000 75,000 75,000
    RESTRICTED CASH 27 0 0
    NOTES RECEIVABLE 10,278,035 11,875,346 11,875,346


    TY 2021 OtherExpensesSchedule
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK FEES 3,921 0 0 0
    DUES AND SUBSCRIPTIONS 47,010 0 0 45,482
    GIFTS 29,845 0 0 14,477
    INSURANCE 25,811 0 0 284
    MARKETING EXPENSES 7,373 0 0 5,070
    MEALS AND ENTERTAINMENT 24,499 0 0 10,606
    OFFICE EXPENSES 167,558 0 0 271,309
    OTHER EXPENSES -4,645 0 0 0
    PENALTIES 250 0 0 0
    POSTAGE 4,012 0 0 1,645
    PROFESSIONAL DEVELOPMENT 107,568 0 0 16,856
    WORKERS' COMP 54,548 0 0 48,745
    AMORTIZATION OF BOND PREMIUM 503,756 503,756 0 0
    PASSTHROUGH INVESTMENTS 0 11,981,808 0 0


    TY 2021 OtherIncomeSchedule2
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PASSTHROUGH INCOME   2,976,641  
    ACCRETION OF BOND DISCOUNT 30,478 30,478  
    INTEREST ON PROGRAM-RELATED INVESTMENTS 407,863 407,863 0


    TY 2021 OtherIncreasesSchedule
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Description Amount
    UNREALIZED GAIN/(LOSS) 161,247,853
    DEFERRED TAXES 1,313,496


    TY 2021 OtherLiabilitiesSchedule
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Description Beginning of Year - Book Value End of Year - Book Value
    DEFERRED TAX LIABILITY 12,548,455 11,128,490
    ACCRUED PAYROLL LIABILITIES 729 0
    DEFERRED RENT 422 0
    OTHER ACCRUED EXPENSES 643 18,222


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER 997,874 456,032 0 39,639
    PAYROLL FEES 71,081 0 0 64,376


    TY 2021 ReductionExplanationStatement
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Explanation:
    THE FAIR VALUE OF XRP HOLDINGS IS ESTIMATED ANNUALLY AS OF MAY 1ST BASED ON AN INDEPENDENT VALUATION. THE VALUATION IS BASED ON THE MARKET PRICES ON THIRD PARTY EXCHANGES, ADJUSTED FOR A DISCOUNT OF 89.156% FOR REDUCTION IN VALUE FOR PRICE PRESSURE DUE TO SHARE VOLUME AND HOLDING PERIOD PRICE RISK. THE PRICE PRESSURE AND HOLDING DISCOUNT TAKES INTO ACCOUNT RESTRICTIONS ON THE FOUNDATION TO LIMIT DAILY SALES OF XRP TO A PERCENTAGE OF THE PREVIOUS 24 HOURS TOTAL TRADING VOLUME ON DESIGNATED EXCHANGES.

    TY 2021 TaxesSchedule
    Name:
    RIPPLEWORKS INC
    EIN:
    46-5604812
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL TAXES 322,995 0 0 285,475
    FEDERAL EXCISE/INCOME TAX 6,347,412 0 0 0
    FOREIGN TAXES 62,279 62,279 0 0
    OTHER TAXES 137,919 137,919 0 0