Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 10-01-2023 , and ending 09-30-2024
Name of foundation
Visa Foundation
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)300 TONI STONE CROSSING 2ND FLOOR
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
San Francisco, CA94158
A Employer identification number

81-4503596
B Telephone number (see instructions)

(800) 839-1754
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$504,817,673J 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) 66,392,421
2 Check right arrow.............
3 Interest on savings and temporary cash investments 389,336 389,336  
4 Dividends and interest from securities... 6,037,175 6,037,175  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -4,642,132
b Gross sales price for all assets on line 6a 92,225,271
7 Capital gain net income (from Part IV, line 2)... 0
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
List of Attached Documents:
// Content
2,071,517 2,071,185 369,335
12 Total. Add lines 1 through 11........ 70,248,317 8,497,696 369,335
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
List of Attached Documents:
// Content
29,400 0 0 29,400
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
1,574,578 1,209,209   365,369
17 Interest............... 57,778 57,778    
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
95,612      
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 2,360     2,360
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,226,382 1,971,974   250,672
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,986,110 3,238,961 0 647,801
25 Contributions, gifts, grants paid....... 35,777,048 35,777,048
26 Total expenses and disbursements. Add lines 24 and 25 39,763,158 3,238,961 0 36,424,849
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 30,485,159
b Net investment income (if negative, enter -0-) 5,258,735
c Adjusted net income (if negative, enter -0-)... 369,335
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
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......... 11,137,503 7,655,175 7,655,175
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow3,500,000
Less: allowance for doubtful accounts right arrow     Click to see attachment
List of Attached Documents:
// Content
3,500,000 		3,500,000
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 322,470,993 Click to see attachment
List of Attached Documents:
// Content
320,016,690 		387,605,326
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 56,341,333 Click to see attachment
List of Attached Documents:
// Content
90,637,584 		96,931,633
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
15,500,000 		Click to see attachment
List of Attached Documents:
// Content
14,125,539 		Click to see attachment
List of Attached Documents:
// Content
9,125,539
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 405,449,829 435,934,988 504,817,673
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 right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
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 right arrow
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 405,449,829 435,934,988
29 Total net assets or fund balances (see instructions)..... 405,449,829 435,934,988
30 Total liabilities and net assets/fund balances (see instructions). 405,449,829 435,934,988
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
405,449,829
2
Enter amount from Part I, line 27a .....................
2
30,485,159
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
435,934,988
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
435,934,988
Form 990-PF (2023)
Form 990-PF (2023)
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 92,225,271   97,736,942 -5,511,671
b       786,928
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       -5,511,671
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 -4,724,743
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
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 right arrow 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) 1 73,096
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 73,096
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 73,096
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 136,187
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.............. 7 136,187
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 63,091
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow63,091 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
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. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
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:
round bullet By language in the governing instrument, or
round bullet 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)
right arrowCA
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 2023 or the taxable year beginning in 2023? 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
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
List of Attached Documents:
// Content
.................
12
Yes
 
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrow  
14
The books are in care ofright arrowFoundation Source Telephone no.right arrow (800) 839-1754

Located atright arrow501 Silverside Road Suite 123WilmingtonDE ZIP+4right arrow198091377
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, 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 right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
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
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2023? .............
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 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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 2023 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 2023.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
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
Organizations relying on a current notice regarding disaster assistance check .........right arrow
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
List of Attached Documents:
// Content
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
300 TONI STONE CROSSING 2ND FLOOR
San Francisco,CA94158
Frank Cooper Dir
1.0 		0 0 0
300 TONI STONE CROSSING 2ND FLOOR
San Francisco,CA94158
Oliver Jenkyn Dir
1.0 		0 0 0
300 TONI STONE CROSSING 2ND FLOOR
San Francisco,CA94158
Kathleen Kavanagh Dir
1.0 		0 0 0
300 TONI STONE CROSSING 2ND FLOOR
San Francisco,CA94158
Alfred F Kelly Jr Dir, Chair of the Board
1.0 		0 0 0
300 TONI STONE CROSSING 2ND FLOOR
San Francisco,CA94158
Graham Macmillan Pres, Dir
1.0 		0 0 0
300 TONI STONE CROSSING 2ND FLOOR
San Francisco,CA94158
Ryan McInerney Dir
1.0 		0 0 0
300 TONI STONE CROSSING 2ND FLOOR
San Francisco,CA94158
Colleen Ostrowski Treas
1.0 		0 0 0
300 TONI STONE CROSSING 2ND FLOOR
San Francisco,CA94158
Chris Suh Dir
1.0 		0 0 0
300 TONI STONE CROSSING 2ND FLOOR
San Francisco,CA94158
Kelly Mahon Tullier Dir, Chair of the Board
1.0 		0 0 0
300 TONI STONE CROSSING 2ND FLOOR
San Francisco,CA94158
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...................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
The Financial Times Limited Investment Mgmt 70,000
PO BOX 347327
PITTSBURGH,PA152514327
Sonen Capital LLC Investment Mgmt 785,000
456 Montgomery Suite 400
San Francisco,CA94104
Porter Novelli Inc Philanthropic srvcs 215,276
PO Box 771633
St Louis,MO63177
Foundation Source Administrative 174,900
55 Walls Drive 3rd Fl
Fairfield,CT06824
Addepar Inc Investment Mgmt 76,922
303 Bryant St
Mountain View,CA94041
Total number of others receiving over $50,000 for professional services.............right arrow100
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 PRI-FIRST AUSTRALIAN CAP CATALYTIC FUND-SUPPORT INDIGENOUS ENTREPRENEURS BY PROVIDING ACCESSIBLE, PATIENT DEBT FINANCE AND ADDRESSING RACIAL INEQUITY IN AUSTRALIA'S FINANCE SECTOR 625,539
2 PRI - ROOT CAPITAL - 2.25% - 02/01/2027 - TO FINANCE COMMUNITY-BASED ENTERPRISES THAT ARE CONSIDERED TO BE PART OF WOMEN IN AGRICULTURE INITIATIVE 3,000,000
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow3,625,539
Form 990-PF (2023)
Form 990-PF (2023)
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
331,648,833
b
Average of monthly cash balances.......................
1b
12,006,223
c
Fair market value of all other assets (see instructions)................
1c
87,448,602
d
Total (add lines 1a, b, and c).........................
1d
431,103,658
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
431,103,658
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
6,466,555
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
424,637,103
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
21,231,855
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
21,231,855
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
73,096
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
14,833
c
Add lines 2a and 2b............................
2c
87,929
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
21,143,926
4
Recoveries of amounts treated as qualifying distributions................
4
5,000,000
5
Add lines 3 and 4............................
5
26,143,926
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
26,143,926
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
36,424,849
b
Program-related investments—total from Part VIII-B..................
1b
3,625,539
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
40,050,388
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 26,143,926
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020......  
d From 2021...... 10,192,128
e From 2022...... 16,322,673
f Total of lines 3a through e ........ 26,514,801
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 40,050,388
a Applied to 2022, but not more than line 2a  
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 2023 distributable amount..... 26,143,926
e Remaining amount distributed out of corpus 13,906,462
5 Excess distributions carryover applied to 2023.    
(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 40,421,263
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 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		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 2018 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		40,421,263
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021.... 10,192,128
d Excess from 2022.... 16,322,673
e Excess from 2023.... 13,906,462
Form 990-PF (2023)
Form 990-PF (2023)
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 2023, enter the date of the ruling ...... right arrow
 
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
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 right arrow
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 (2023)
Form 990-PF (2023)
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 GLOBAL LIMITED

55 LUDGATE HILL
LONDON,ENGLANDEC4M 7JW
UK 		N/A PC to support growing membership base and promote gender lens investing in the market 500,000

2X GLOBAL LIMITED

55 LUDGATE HILL
LONDON,ENGLANDEC4M 7JW
UK 		N/A PC the Climate Gender Equity Fund (CGEF) 1,000,000

AFRICAN PRIVATE EQUITY AND VENTURE CAPITAL ASSOCIA

37 N ROW
LONDON   W1K 6DH
UK 		N/A NC Expenditure Responsibility 150,000

AMERICAN CORPORATE PARTNERS

140 E 45TH ST STE 21
NEW YORK,NY10017 		N/A PC To support creating an entrepreneurship mentorship program for post-9/11 veterans 150,000

AMERICAN FRIENDS OF MAGEN DAVID ADOM

20 W 36TH ST SUITE 1100
NEW YORK,NY10018 		N/A PC To support Humanitarian Assistance efforts in Israel 1,000,000

AMERICAN HEART ASSOCIATION

426 17TH ST STE 300
OAKLAND,CA94612 		N/A PC To support the American Heart Association's Go Red for Women program 250,000

AMERICAN NATIONAL RED CROSS

1663 MARKET ST
SAN FRANCISCO,CA94103 		N/A PC To support the Kenya Red Cross Society (KRCS) emergency appeal and the Tanzania Red Cross (TRC) emergency appeal, to deliver assistance and support the recovery of people affected by the devastating floods caused by the El NiNo rains across both Kenya and Tanzania 250,000

AMERICAN NATIONAL RED CROSS

1663 MARKET ST
SAN FRANCISCO,CA94103 		N/A PC the American Red Cross' Annual Disaster Giving Program (ADGP) - to support global economies impacted by disasters, through financial assistance, relief supplies, recovery support etc 500,000

AMERICAN NATIONAL RED CROSS

1663 MARKET ST
SAN FRANCISCO,CA94103 		N/A PC To support the Bangladesh Red Crescent Society's emergency appeal, to deliver assistance and support the recovery of people affected by Cyclone Remal in Bangladesh 100,000

AMERICAN ONLINE GIVING FOUNDATION INC

40 EAST MAIN ST SUITE 887
NEWARK,DE19711 		N/A PC General & Unrestricted 242,436

AMERICAN ONLINE GIVING FOUNDATION INC

40 EAST MAIN ST SUITE 887
NEWARK,DE19711 		N/A PC General & Unrestricted 751,627

AMERICAN ONLINE GIVING FOUNDATION INC

40 EAST MAIN ST SUITE 887
NEWARK,DE19711 		N/A PC General & Unrestricted 236,557

AMERICAN ONLINE GIVING FOUNDATION INC

40 EAST MAIN ST SUITE 887
NEWARK,DE19711 		N/A PC General & Unrestricted 4,168,725

AMERICAN ONLINE GIVING FOUNDATION INC

40 EAST MAIN ST SUITE 887
NEWARK,DE19711 		N/A PC General & Unrestricted 1,164,875

AMERICAN ONLINE GIVING FOUNDATION INC

40 EAST MAIN ST SUITE 887
NEWARK,DE19711 		N/A PC General & Unrestricted 348,486

AMERICAN ONLINE GIVING FOUNDATION INC

40 EAST MAIN ST SUITE 887
NEWARK,DE19711 		N/A PC General & Unrestricted 291,598

AMERICAN ONLINE GIVING FOUNDATION INC

40 EAST MAIN ST SUITE 887
NEWARK,DE19711 		N/A PC General & Unrestricted 312,271

AMERICAN ONLINE GIVING FOUNDATION INC

40 EAST MAIN ST SUITE 887
NEWARK,DE19711 		N/A PC General & Unrestricted 401,721

ASIA FOUNDATION

465 CALIFORNIA ST 9TH FL
SAN FRANCISCO,CA94104 		N/A PC To support the Asia Foundation's 2024 Lotus Leadership Awards Gala 25,000

BLACK ECONOMIC ALLIANCE FOUNDATION

1032 15TH ST NW 247
WASHINGTON,DC20005 		N/A PC the center for black entrepreneurship (CBE) program 1,000,000

BLACK INNOVATION ALLIANCE

1954 AIRPORT RD
ATLANTA,GA30341 		N/A PC To support Strengthening the Inclusive Entrepreneurship Ecosystem in the U.S. 750,000

CANADIAN ONLINE GIVING FOUNDATION

700 611 MEREDITH RD NE
CALGARY,ALBERTAT2E 2W5
CA 		N/A PC General & Unrestricted 88,214

CENTRAL TEXAS FOOD BANK INC

6500 METROPOLIS DR
AUSTIN,TX78744 		N/A PC General & Unrestricted 125,000

CHARITABLE GIVING

UNIT C4 UNION MINE RD PITTS CLEAVE
TAVISTOCK,DEVONPL19 0NS
UK 		N/A PC General & Unrestricted 343,741

CHARITIES AID FOUNDATION AMERICA

225 REINEKERS LN STE 375
ALEXANDRIA,VA22314 		N/A PC The Visa Foundation Fund 500,000

CHARITIES AID FOUNDATION AMERICA

225 REINEKERS LN STE 375
ALEXANDRIA,VA22314 		N/A PC To support TIDE Foundation - the 5th Africa Tech Female Founder Summit 34,000

CHARITIES AID FOUNDATION AMERICA

225 REINEKERS LN STE 375
ALEXANDRIA,VA22314 		N/A PC Visa Foundation Fund 500,000

CHARITIES AID FOUNDATION AMERICA

225 REINEKERS LN STE 375
ALEXANDRIA,VA22314 		N/A PC Asociacin Civil Contribuir al Desarrollo Local (a.k.a. Mayma) to support the growth of gender diverse, regenerative businesses in Argentina and Mexico 500,000

CHIEF EXECUTIVES FOR CORPORATE PURPOSE INC

447 BROADWAY 2ND FL 547
NEW YORK,NY10013 		N/A PC To support a new business and societal ROI framework for corporate foundations 250,000

COMMUNITY REINVESTMENT FUND INC

801 NICOLLET MALL STE 1700W
MINNEAPOLIS,MN55402 		N/A SO II To support the program From Outputs to Outcomes: Deploying CRF Insights to Measure the Impact of the California Rebuilding Fund 250,000

CONCORDANCE ACADEMY OF LEADERSHIP

6 CITYPLACE DR STE 522
SAINT LOUIS,MO63141 		N/A PC General & Unrestricted 15,000

DONORSCHOOSE ORG

134 W 37TH ST 11TH FL
NEW YORK,NY10018 		N/A PC To support Visa's MissionRock campaign to fully fund all San Francisco Projects 100,000

FINANCIAL ALLIANCE FOR WOMEN INC

540 PRESIDENT ST 3RD FLOOR
BROOKLYN,NY11215 		N/A NC Expenditure Responsibility Grant 300,000

FONDS DE DOTATION AMBITION SAINT-DENIS

1 RUE DE LA REPUBLIQUE
SAINTDENIS   93200
FR 		N/A PC To support the Les Essentielles program 175,000

FRIENDS OF THE WORLD FOOD PROGRAM INC

PO BOX 96316
WASHINGTON,DC20090 		N/A PC To support Humanitarian Assistance efforts in Gaza 1,000,000

FUNDACJA EDUKACYJNA PERSPEKTYWY

UI NOWOGRODZKA 31
WARSZAWA   00-511
PL 		N/A PC To support the Women in Tech Summit and community engagement activities for women founders in Poland 150,000

GALLAUDET UNIVERSITY

800 FLORIDA AVE NE
WASHINGTON,DC20002 		N/A PC To support the Necessity of Now campaign 50,000

GIRLSTART

1400 W ANDERSON LN
AUSTIN,TX78757 		N/A PC the Visa Foundation Gives partnership to help support addressing youth education 125,000

GLOBAL IMPACT INVESTING NETWORK INC

ONE BATTERY PARK STE 202
NEW YORK,NY10004 		N/A PC To support The Impact Lab 500,000

GLOBALGIVING FOUNDATION INC

1 THOMAS CIR NW SUITE 800
WASHINGTON,DC20005 		N/A PC To support the Brazilian Red Cross (Cruz Vermelha Brasileira) in their response to the flooding in Rio Grande do Sul 100,000

GRACA MACHEL TRUST

INVESTMENT PL BLOCK C 10TH ROAD
HYDE PARK,JOHANNESBURG2196
SF 		N/A PC Africa's Firestarters program Igniting Women's Entrepreneurship in Uganda, Kenya and South Africa 200,000

GREATER CINCINNATI FOUNDATION

720 E PETE ROSE WAY STE 120
CINCINNATI,OH45202 		N/A PC P&G Alumni Foundation Fund 2,500

GUDINA TUMSA FOUNDATION

LEKA BLDG
YERER,ADDIS ABABA  
ET 		N/A PC To support community development in Addis Ababa through an unrestricted grant 1,500,000

HUGE THING SPOLKA Z OGRANICZONA ODPOWIEDZIALNOSCIA

SWIETY MARCIN 11
POZNAN   61-803
PL 		N/A NC Expenditure Responsibility Grant 250,000

INCLUSIV INC

39 BROADWAY RM 2140
NEW YORK,NY10006 		N/A PC To support Maximizing Financial Inclusion Impact in the U.S. 500,000

INCO COMMUNITY INC

548 MARKET ST
SAN FRANCISCO,CA94104 		N/A PC Unlocking the economic potential of women-led businesses in the UK&I 1,000,000

INSTITUTO REDE MULHER EMPREENDEDORA - IRME

RUA CARLOS VILLALVA 118 CONJUNTO 21
SAO PAULO   04307000
BR 		N/A PC To support the W20 as the official engagement group of the G20 focused on gender equity, equality, and women's economic empowerment 120,000

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 583,000

INTERNATIONAL TRADE CENTRE

PALAIS DES NATIONS
GENEVA    
SZ 		N/A NC Expenditure Responsibility Grant 250,000

KIVA MICROFUNDS

986 MISSION ST 4TH FL
SAN FRANCISCO,CA94103 		N/A PC DONOR ADVISER FUND - K-DAF 217,605

KIZ SINNOVA GES FUER SOZIALE INNOVATIONEN GGMBH

HERMANN STEINHAEUSER STRASSE 43 47
OFFENBACH A M,HESSEN63065
GM 		N/A PC To support Perspektive neuStart in fostering inclusive entrepreneurship and strengthening the entrepreneurial ecosystem in Germany 250,000

MISSION CURE INC

MEGAN GOLDEN 245 W 107TH ST STE 11B
NEW YORK,NY10025 		N/A PC To support the organization's goal to help find a cure for chronic pancreatitis 25,000

NATIONAL BANKERS COMMUNITY ALLIANCE INC

1513 P ST NW
WASHINGTON,DC20005 		N/A SO I To support the planning phase of the B.O.S.S (Back-Office Support and Seed-Capital) Tank initiative 250,000

OPERATION HOPE

191 PEACHTREE ST SUITE 4000
ATLANTA,GA30303 		N/A PC To develop a digital technical assistance tool that will support 4000 women entrepreneurs and a one-year membership to HOPE network 500,000

PT KANIKA CAHAYA (AKA INSTELLAR)

LT 6 UNIT F J1 JEND SUDIRMAN KAV
JAKARTA,JAKARTA12190
ID 		N/A NC Expenditure Responsibility Grant 250,000

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

SAN FRANCISCO FOOD BANK

900 PENNSYLVANIA AVE
SAN FRANCISCO,CA94107 		N/A PC To support the Community Markets Initiative 250,000

SECONDMUSE FOUNDATION

401 ASH ST STE B
LAKE OSWEGO,OR97034 		N/A PC To support the Future Economy Labs Asia program 500,000

SINGA GLOBAL

50 RUE DE MONTREUIL
PARIS   75011
FR 		N/A PC to support the Leading Newcomer Entrepreneurship Support Programs in Europe 300,000

SMITHSONIAN INSTITUTION

PO BOX 418320
BOSTON,MA02241 		N/A PC to support the NMAAHC mission 200,000

SOCIETE EDITRICE DU MONDE

67/69 AVE PIERRE MENDES
PARIS   75013
FR 		N/A NC Expenditure Responsibility Grant 78,000

SOUTH AFRICAN WOMEN IN ENGINEERING

15 OFC RD BLDG 2 WAVERLY OFC PARK
JOHANNESBURG,GAUTENG2090
SF 		N/A PC To support the "STEM is Everywhere" Female Founder Incubator 250,000

SWISS ASSOCIATION FOR ENTREPRENEURSHIP IN EMERGING

36 AVE CARDINAL-MERMILLOD
CAROUGE,GENEVA1227
SZ 		N/A PC To support Accelerating Gender-Inclusive Care Entrepreneurship Ecosystem Programme (GICEEP) in Asia-Pacific 300,000

SWISS ASSOCIATION FOR ENTREPRENEURSHIP IN EMERGING

36 AVE CARDINAL-MERMILLOD
CAROUGE,GENEVA1227
SZ 		N/A PC To launch the SEED (Seedstars Entrepreneurship Ecosystem Development) Inclusivity Program 1,000,000

TECHNOSERVE INC

1777 N KENT ST SUITE 1100
ALRINGTON,VA22209 		N/A PC To support Potencia Tu Agroempresa 500,000

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 600,000

THE AFRICA-AMERICA INSTITUTE

60 E 42ND ST STE 1700
NEW YORK,NY10165 		N/A PC To Support 40th Anniversary Gala. 25,000

THE ASPEN INSTITUTE INC

2300 N ST NW STE 700
WASHINGTON,DC20037 		N/A PC To support the Digital Equity Frontiers Pilot Project 350,000

THE MILKEN INSTITUTE

1250 FOURTH ST
SANTA MONICA,CA90401 		N/A PC To support the Corporate Philanthropy Leadership Collective 250,000

THE NORTHERN MICHIGAN UNIVERSITY FOUNDATION

1401 PRESQUE ISLE AVE
MARQUETTE,MI49855 		N/A PC General & Unrestricted 2,500

THE TRUSTEE FOR THE AUSTRALIAN ONLINE GIVING FOUND

UNIT 13-15 56 NERIDAH ST
CHATSWOOD,NSW2067
AS 		N/A PC General & Unrestricted 15,093

THE UK ONLINE GIVING FOUNDATION

4 MORE LONDON RIVERSIDE
LONDON   SE1 2AU
UK 		N/A PC General & Unrestricted 34,816

THE UK ONLINE GIVING FOUNDATION

4 MORE LONDON RIVERSIDE
LONDON   SE1 2AU
UK 		N/A PC General & Unrestricted 9,033

THE UK ONLINE GIVING FOUNDATION

4 MORE LONDON RIVERSIDE
LONDON   SE1 2AU
UK 		N/A PC General & Unrestricted 385,438

THE UK ONLINE GIVING FOUNDATION

4 MORE LONDON RIVERSIDE
LONDON   SE1 2AU
UK 		N/A PC General & Unrestricted 20,094

THE UK ONLINE GIVING FOUNDATION

4 MORE LONDON RIVERSIDE
LONDON   SE1 2AU
UK 		N/A PC General & Unrestricted 14,789

THE UK ONLINE GIVING FOUNDATION

4 MORE LONDON RIVERSIDE
LONDON   SE1 2AU
UK 		N/A PC General & Unrestricted 75,812

THE UK ONLINE GIVING FOUNDATION

4 MORE LONDON RIVERSIDE
LONDON   SE1 2AU
UK 		N/A PC General & Unrestricted 27,265

THE UK ONLINE GIVING FOUNDATION

4 MORE LONDON RIVERSIDE
LONDON   SE1 2AU
UK 		N/A PC General & Unrestricted 10,412

THE UK ONLINE GIVING FOUNDATION

4 MORE LONDON RIVERSIDE
LONDON   SE1 2AU
UK 		N/A PC General & Unrestricted 89,567

THE UK ONLINE GIVING FOUNDATION

4 MORE LONDON RIVERSIDE
LONDON   SE1 2AU
UK 		N/A PC General & Unrestricted 391,873

TIDES CENTER

PO BOX 889385
LOS ANGELES,CA90088 		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 300,000

TIPPING POINT COMMUNITY

220 MONTGOMERY ST STE 850
SAN FRANCISCO,CA94104 		N/A PC For Tipping Point Community to address and prevent youth homelessness across the Bay Area 1,200,000

VALUE FOR WOMEN LTD

86-90 PAUL ST
LONDON,ENGLANDEC2A 4NE
UK 		N/A NC Expenditure Responsibility Grant 400,000

VALUE FOR WOMEN LTD

86-90 PAUL ST
LONDON,ENGLANDEC2A 4NE
UK 		N/A NC Expenditure Responsibility Grant 100,000

VILCAP INC

1321 UPLAND DR PMB 11155
HOUSTON,TX77043 		N/A PC GreenTech Europe 2023: Accelerating Women-Led Sustainability SMBs 250,000

VILCAP INC

1321 UPLAND DR PMB 11155
HOUSTON,TX77043 		N/A PC To support GreenTech Europe 2024: Accelerating Women-Led Sustainability SMBs 1,000,000

VILCAP INC

1321 UPLAND DR PMB 11155
HOUSTON,TX77043 		N/A PC To support Invest2Innovate's Ecosystem Enablement Program 250,000

WOMENS WORLD BANKING INC

230 PARK AVE 2ND FL WEST
NEW YORK,NY10169 		N/A PC Empowering Women-Owned Small and Micro Businesses 1,200,000
Total .................................right arrow 3a 35,777,048
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
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 ........... 		    14 389,336  
4 Dividends and interest from securities ....     14 6,037,175  
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 82,611 18 -4,724,743  
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 332 14 1,623,975  
bINCOME FROM NOTE RECEIVABLE     14 73,490  
cFOREIGN CURRENCY GAIN     01 4,305  
dINTEREST INCOME FROM PRIS         369,335
eBANK CHARGE REFUND     01 80  
12 Subtotal. Add columns (b), (d), and (e) .. 82,943 3,403,618 369,335
13Total. Add line 12, columns (b), (d), and (e)..................
13
3,855,896
(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 (2023)
Form 990-PF (2023)
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.
right arrow right arrow
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 Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
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
2023
Name of the organization
Visa Foundation
 
Employer identification number

81-4503596
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) (2023)
Schedule B (Form 990) (2023) Page 2
Name of organization
Visa Foundation
  		Employer identification number
81-4503596
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
Visa International Service Associat
300 Toni Stone Crossing 2nd Floor
 
San Francisco, CA94158

$ 66,392,421


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

$  


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

$  


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

$  


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

$  


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

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 3
Name of organization
Visa Foundation
  		Employer identification number

81-4503596
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
1
 MARQETA ORD SHS CLASS A MQ, 12444690 sh. $ 66,392,421 2024-06-27
(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) (2023)
Schedule B (Form 990) (2023)
Page 4
Name of organization
Visa Foundation
  		Employer identification number

81-4503596
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) (2023)
Additional Data


Software ID:  
Software Version:  

TY 2023 AccountingFeesSchedule
Name:
Visa Foundation
EIN:
81-4503596
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Audit Fees 29,400     29,400

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

TY 2023 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 2023 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
INTELLECAP ADVISORY SERVICES PRIVATE LTD
  		GRND FL TETEZI TOWRS GEO PADMORE RD
NAIROBI    
KE 		2023-04-28 100,000 TO SUPPORT THE SANKALP AFRICA SUMMIT PROJECT 100,000 NO 7/3/2023   NONE NECESSARY
INTERNATIONAL TRADE CENTRE
  		PALAIS DES NATIONS
GENEVA    
SZ 		2023-05-11 750,000 REDUCE POVERTY & ENHANCED ECONOMIC RESILIENCE FOR COMM VIA SMB DEVEL & DIGITAL ENTREPSHIP (#1 OF 2) 750,000 NO 5/22/2024   NONE NECESSARY
INTERNATIONAL TRADE CENTRE
  		PALAIS DES NATIONS
GENEVA    
SZ 		2024-06-04 250,000 REDUCE POVERTY & ENHANCED ECONOMIC RESILIENCE FOR COMM VIA SMB DEVEL & DIGITAL ENTREPSHIP (#2 OF 2)   NO Expected in 2025   NONE NECESSARY
Value For Women
  		86-90 PAUL ST
LONDON   EC2A 4NE
UK 		2022-04-28 288,000 CREATION & DISSEMINATION OF INSIGHTS BEST PRACTICES GENDER LENS INVESTING & INCLUSIVE PRACTICES 288,000 NO 3/28/2024   NONE NECESSARY
Value For Women
  		86-90 PAUL ST
LONDON   EC2A 4NE
UK 		2024-04-17 400,000 CREATION & DISSEMINATION OF INSIGHTS BEST PRACTICES GENDER LENS INVST & INCL PRACTICES (#1 OF 2) 400,000 NO 8/12/2024   NONE NECESSARY
Value For Women
  		86-90 PAUL ST
LONDON   EC2A 4NE
UK 		2024-08-30 100,000 CREATION & DISSEMINATION OF INSIGHTS BEST PRACTICES GENDER LENS INVST & INCL PRACTICES (#2 OF 2) 100,000 NO 7/2/2025   NONE NECESSARY
PT KANIKA ERA CAHAYA (aka Instellar)
  		LT 6 UNIT F J1 JEND SUDIRMAN KAV 52
JAKARTA   12190
ID 		2024-03-22 250,000 To grow Indonesia's Impact Entrepreneurship Ecosystem 175,238 NO 6/1/2025   NONE NECESSARY
HUGE THING SPOLKA Z OGRANICZONA ODPOWIED
  		SWIETY MARCIN 11
POZNAN   61-803
PL 		2023-10-20 250,000 support high-growth women-led ventures via tech assist & support via accelerator prgm 250,000 NO 4/4/2025   NONE NECESSARY
African Private Eqty & Venture Cap Assn
  		37 NORTH ROW
LONDON   W1K 6DH
UK 		2024-07-10 150,000 SEE GENERAL EXPLANATION FOR PURPOSE & ADDTL DETAILS RE AMT EXPENDED & LACK OF DIVERSION   NO SEE GENERAL EXPLANATION ATTACHMENT   NONE NECESSARY
Societe editrice du Monde
  		67/69 AVENUE PIERRE MENDES
PARIS   75013
FR 		2024-04-17 78,000 SEE GENERAL EXPLANATION FOR PURPOSE & ADDTL DETAILS RE AMT EXPENDED & LACK OF DIVERSION   NO SEE GENERAL EXPLANATION ATTACHMENT   NONE NECESSARY
FINANCIAL ALLIANCE FOR WOMEN INC
  		540 PRESIDENT STREET 3RD FLOOR
Brooklyn,NY11215 		2024-05-17 300,000 engage financial service providers, govts & non-profits to accelerate financing to women-led busines 300,000 NO 1/10/2025   NONE NECESSARY
Southern Opportunity and Resilience
  		1825 K STREET NW SUITE 1100
WASHINGTON,DC20006 		2021-09-07 5,000,000 PRI LOAN-SEE GENERAL EXPLANATION FOR PURPOSE & ADDTL 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 GENERAL EXPLANATION FOR PURPOSE & ADDTL 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.
FIRST AUSTRALIANS CAPITAL LTD ACN
  		18 Bradford Cl
Kotara   NSW 2289
AS 		2024-06-28 625,539 PRI INVEST-SEE GENERAL EXPLANATION FOR PURPOSE & ADDTL 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.

TY 2023 GeneralExplanationAttachment
Name:
Visa Foundation
EIN:
81-4503596
Identifier Return Reference Explanation
PART I LINE 6A (990-PF) PART I LINE 6A (990-PF) RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF ASSETS NOT INCLUDED IN PART IV TOTAL INCLUDED IN PART IV: (DETAILS BELOW) NET GAIN/(LOSS): $(4,724,743) TOTAL NOT INCLUDED IN PART IV: PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - UBI NET GAIN/(LOSS): $82,611 TOTAL PART I, LINE 6A: $(4,642,132) DETAILS OF ASSETS INCLUDED IN PART IV: PUBLICLY-TRAIDED SECURITIES GROSS SALES PRICE: $92,225,271 BOOK BASIS: $97,736,942 NET GAIN/(LOSS): $(5,511,671) PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - NON UBI NET GAIN/(LOSS): $786,928
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 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 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 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY GRANTEE: African Private Equity & Venture Capital Association Ltd DATE OF GRANT: 07/10/2024 PURPOSE OF GRANT: TO provide insights on the evolution and current state of gender diversity in private capital, gender-lens investing, and gender at the intersection of climate and tech investing REPORTS OF AMOUNTS EXPENDED AND DIVERSIONS: THE GRANTEE HAS NOT SUBMITTED ANY ANNUAL REPORTS REGARDING THE JULY 2024 GRANT. THE FOUNDATION HAS MADE NUMEROUS GOOD FAITH ATTEMPTS ON MULTIPLE DATES TO CONTACT THE GRANTEE AND REQUEST THE ANNUAL REPORT WITH RESPECT TO THE GRANT FUNDS, WHICH ATTEMPTS HAVE BEEN DOCUMENTED BY THE FOUNDATION, BUT HAS NOT BEEN ABLE TO OBTAIN SUCH REPORT. PER SECTION 53.4945-5(E)(2) OF THE TREASURY REGULATIONS, THE FAILURE OF GRANTEE TO SUBMIT THE ANNUAL REPORT WILL NOT RESULT IN A TAXABLE EXPENDITURE FOR THE FOUNDATION BECAUSE THE FOUNDATION (I) MADE THE GRANT IN ACCORDANCE WITH PARAGRAPH (B) OF SAID SECTION OF THE REGULATIONS, (II) HAS COMPLIED WITH THE REPORTING REQUIREMENTS CONTAINED IN PARAGRAPH (D) OF SAID SECTION OF THE REGULATIONS, (III) MADE A REASONABLE EFFORT TO OBTAIN THE REQUIRED REPORT, AND (IV) WILL WITHHOLD ALL FUTURE PAYMENTS ON ANY GRANT TO THIS GRANTEE UNTIL SUCH REPORT IS FURNISHED. DIVERSIONS: TO THE KNOWLEDGE OF THE FOUNDATION, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE GRANT WAS ORIGINALLY MADE.
FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY GRANTEE: Societe editrice du Monde DATE OF GRANT: 04/17/2024 PURPOSE OF GRANT: to SUPPORT the impact of sports on entrepreneurship AND INCLUSION REPORTS OF AMOUNTS EXPENDED AND DIVERSIONS: THE GRANTEE HAS NOT SUBMITTED ANY ANNUAL REPORTS REGARDING THE APRIL 2024 GRANT. THE FOUNDATION HAS MADE NUMEROUS GOOD FAITH ATTEMPTS ON MULTIPLE DATES TO CONTACT THE GRANTEE AND REQUEST THE ANNUAL REPORT WITH RESPECT TO THE GRANT FUNDS, WHICH ATTEMPTS HAVE BEEN DOCUMENTED BY THE FOUNDATION, BUT HAS NOT BEEN ABLE TO OBTAIN SUCH REPORT. PER SECTION 53.4945-5(E)(2) OF THE TREASURY REGULATIONS, THE FAILURE OF GRANTEE TO SUBMIT THE ANNUAL REPORT WILL NOT RESULT IN A TAXABLE EXPENDITURE FOR THE FOUNDATION BECAUSE THE FOUNDATION (I) MADE THE GRANT IN ACCORDANCE WITH PARAGRAPH (B) OF SAID SECTION OF THE REGULATIONS, (II) HAS COMPLIED WITH THE REPORTING REQUIREMENTS CONTAINED IN PARAGRAPH (D) OF SAID SECTION OF THE REGULATIONS, (III) MADE A REASONABLE EFFORT TO OBTAIN THE REQUIRED REPORT, AND (IV) WILL WITHHOLD ALL FUTURE PAYMENTS ON ANY GRANT TO THIS GRANTEE UNTIL SUCH REPORT IS FURNISHED. DIVERSIONS: TO THE KNOWLEDGE OF THE FOUNDATION, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE GRANT 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: 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: 09/07/2021 AMOUNT: $784,618 DATE OF PRI: 10/13/2021 AMOUNT: $799,682 DATE OF PRI: 12/23/2021 AMOUNT: $148,934 DATE OF PRI: 03/01/2022 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: 12/31/2021 DATE OF REPORT: 03/28/2023 FYE: 12/31/2022 DATE OF REPORT: 03/28/2023 FYE: 12/31/2023 DATE OF REPORT: 01/17/2025 FYE: 12/31/2024 DATE OF REPORT: 06/18/2025 THIS INVESTMENT REMAINED ON THE FOUNDATION'S BOOKS AS OF 09/30/2024. 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: 09/07/2021 AMOUNT: $322,564 DATE OF PRI: 09/21/2021 AMOUNT: $432,412 DATE OF PRI: 09/30/2021 AMOUNT: $916,671 DATE OF PRI: 10/05/2021 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: 12/31/2021 DATE OF REPORT: 03/27/2023 FYE: 12/31/2022 DATE OF REPORT: 03/27/2023 FYE: 12/31/2023 DATE OF REPORT: 02/29/2024 FYE: 12/31/2024 DATE OF REPORT: 05/20/2025 THIS INVESTMENT REMAINED ON THE FOUNDATION'S BOOKS AS OF 09/30/2024. 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: FIRST AUSTRALIANS CAPITAL LTD ACN TOTAL PRI AMOUNT SHOWN REPORTED ON FORM 990-PF, PART VI-B, LINE 5D-EXPENDITURE RESPONSIBILITY STATEMENT: $625,539 THE TOTAL PRI LOAN AMOUNT REPRESENTS THE AGGREGATE OF SEVERAL DISBURSEMENTS, LISTED BELOW, MADE UNDER A SINGLE PRI INVESTMENT INSTRUMENT. DATES AND AMOUNTS OF PRI PAYMENTS: DATE OF PRI: 06/28/2024 AMOUNT: $199,773 DATE OF PRI: 09/12/2024 AMOUNT: $425,766 PURPOSE OF PRI: TO SUPPORT CATALYZING THE INDIGENOUS BUSINESS SECTOR IN AUSTRALIA THROUGH THE PROVISION OF ACCESSIBLE, AFFORDABLE AND FLEXIBLE DEBT AND PATIENT CAPITAL FINANCE TO INDIGENOUS BUSINESSES IN ORDER TO BRIDGE THE FINANCIAL GAP BETWEEN BANKING AND INVESTMENT MARKETS AND THE INDIGENOUS ECONOMY. REPORTS OF AMOUNTS EXPENDED: FIRST AUSTRALIANS CAPITAL LTD ACN 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: 06/30/2024 DATE OF REPORT: 07/22/2025 FYE: 06/30/2025 DATE OF REPORT: 07/22/2025 THIS INVESTMENT REMAINED ON THE FOUNDATION'S BOOKS AS OF 09/30/2024. 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 2023 InvestmentsCorpStockSchedule
Name:
Visa Foundation
EIN:
81-4503596
Name of Stock End of Year Book Value End of Year Fair Market Value
BROWN ADV SUSTAINABLE GROWTH F 10,250,000 11,463,953
CCM COMMUNITY IMPACT BOND FUND 9,375,856 9,819,416
DODGE & COX FUNDS INTERNATIONA 35,391,071 45,544,774
DODGE & COX GLOBAL BOND FUND 9,502,425 9,849,829
MARQETA ORD SHS CLASS A 66,392,421 61,227,875
PIMCO FUNDS TOTAL RETURN FUND 49,283,363 41,655,849
VANGUARD ESG US STOCK ETF 115,470,424 174,967,603
VANGUARD EXTENDED MARKET INDEX 19,556,549 28,171,721
WEITZ CORE PLUS INCOME FUND IN 4,794,581 4,904,306

TY 2023 InvestmentsOtherSchedule2
Name:
Visa Foundation
EIN:
81-4503596
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ARUWA CAPITAL MANAGEMENT   2,000,000 2,115,531
AVANATH AFFORDABLE HOUSING REN   4,962,318 4,575,985
BLUME EQUITY FUND I SCSP   2,066,681 1,840,782
BOOTSTRAP EUROPE III SCSP (MRI   3,792,870 4,386,760
BORSKI FUND COOPERATIEF U.A -   2,358,486 1,857,156
BRANDYWINE GLOBAL MULTI-SECTOR   20,520,195 22,137,026
CLIMATE SMART AGRICULTURE & FO   2,000,000 2,158,724
CLIMATE SMART AGRICULTURE & FO   1,021,817 1,000,000
COMMUNITY EM CREDIT FUND I LP   6,354,008 7,061,687
COVID-19 EMERGING & FRONTIERS   5,619,674 6,471,616
ELEVAR INDIA V LP   2,107,481 2,515,720
EWA LATAM FUND II, LP   1,070,965 991,692
FAIRVIEW FOUNDATIONS EMERGING   6,837,489 10,656,964
FULLCIRCLE FUND LLC   664,736 750,000
IMPACT X GLOBAL I, LP   2,025,917 1,920,124
IMPACTIVE CAPITAL FUND LTD   5,000,000 5,051,444
INCLUDE VENTURES FUND I, LP   1,309,387 1,450,890
MIROVA GIGATON FUND S.A. SICAV   7,778,192 7,373,624
O15 EMERGING AMERICA CREDIT OP   919,989 887,276
PATAMAR BEACON HOLDINGS LTD. -   1,500,000 1,128,705
RING MISSION VENTURE CAPITAL I   1,626,250 1,945,747
ROSE AFFORDABLE HOUSING PRESER   831,204 731,709
SEEDSTARS INTERNATIONAL VENTUR   1,633,510 1,625,824
TIDE AFRICA II LP   2,788,095 2,128,515
TRAIL MIX VENTURE FUND III LP   271,620 271,649
TRAIL MIX VENTURES FUND II LP   3,576,700 3,896,483

TY 2023 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 - FIRST AUSTRALIAN CAP CAT   625,539 625,539
PRI - ROOT CAPITAL - 2.25% - 0   3,000,000 3,000,000
PRI - SOUTHERN OPPORTUNITY AND   5,000,000  


TY 2023 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 174,900     174,900
Foundation Dues & Memberships 116,242 44,800   71,442
K-1 Exp BOOTSTRAP EUROPE III S 582,085 582,085    
K-1 Exp BRANDYWINE GLOBAL MULT 3,735 3,463    
K-1 Exp ELEVAR INDIA V LP 119,877 119,877    
K-1 Exp EWA LATAM FUND II, LP 116,735 116,735    
K-1 Exp FAIRVIEW FOUNDATIONS E 307,266 303,802    
K-1 Exp FULLCIRCLE FUND LLC 67,670 67,670    
K-1 Exp IMPACT X GLOBAL I, LP 65,340 65,340    
K-1 Exp INCLUDE VENTURES FUND 176,053 176,053    
K-1 Exp RING MISSION VENTURE C 240,869 240,869    
K-1 Exp SEEDSTARS INTERNATIONA 69,285 69,285    
K-1 Exp TIDE AFRICA II LP 38,087 38,087    
K-1 Exp TRAIL MIX VENTURES FUN 143,908 143,908    
DIGITAL SUBSCRIPTIONS 3,370     3,370
Registered Agent Fee 560     560
State or Local Filing Fees 400     400


TY 2023 OtherIncomeSchedule2
Name:
Visa Foundation
EIN:
81-4503596
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
K-1 Inc/Loss AVANATH AFFORDABLE HOUSING RENAISSAN -148,806 -148,806  
K-1 Inc/Loss BOOTSTRAP EUROPE III SCSP (MRI) 530,935 530,935  
K-1 Inc/Loss BRANDYWINE GLOBAL MULTI-SECTOR INCOM 455,262 455,262  
K-1 Inc/Loss COMMUNITY EM CREDIT FUND I LP (MRI) 705,678 705,678  
K-1 Inc/Loss ELEVAR INDIA V LP 24,916 24,916  
K-1 Inc/Loss FAIRVIEW FOUNDATIONS EMERGING MANAGE 37,799 37,467  
K-1 Inc/Loss FULLCIRCLE FUND LLC 3,810 3,810  
K-1 Inc/Loss INCLUDE VENTURES FUND I, LP 2,833 2,833  
K-1 Inc/Loss RING MISSION VENTURE CAPITAL I 4,398 4,398  
K-1 Inc/Loss SEEDSTARS INTERNATIONAL VENTURES II 3,548 3,548  
K-1 Inc/Loss TIDE AFRICA II LP 259 259  
K-1 Inc/Loss TRAIL MIX VENTURES FUND II LP 3,675 3,675  
Foreign Currency Gain 4,305 4,305  
INTEREST INCOME FROM PRIS 369,335 369,335 369,335
INCOME FROM NOTE RECEIVABLE 73,490 73,490  
bank charge refund 80 80  


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TY 2023 OtherNotesLoansRcvblLongSch
Name:
Visa Foundation
EIN:
81-4503596

Borrower's Name Relationship to Insider Original Amount of Loan Balance Due Date of Note Maturity Date Repayment Terms Interest Rate Security Provided by Borrower Purpose of Loan Description of Lender Consideration Consideration FMV
MCE - SOCIAL CAPITAL   3,500,000 3,500,000 2023-11 2032-12 PRIN AT MATURITY,INT PD SEMI-ANNUALLY 290 % NONE INVESTMENT NONE 0  

TY 2023 OtherProfessionalFeesSchedule
Name:
Visa Foundation
EIN:
81-4503596
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Services 1,209,209 1,209,209    
Philanthropic Consulting Srvcs 357,869     357,869
EDITORIAL SERVICES 7,500     7,500


TY 2023 TaxesSchedule
Name:
Visa Foundation
EIN:
81-4503596
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
990-PF Estimated Tax for 2024 95,400      
STATE FEES 212