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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
VALHALLA FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)2995 WOODSIDE ROAD 400-560
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WOODSIDE, CA94062
A Employer identification number

20-0478828
B Telephone number (see instructions)

(650) 529-9207
C 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$527,054,705J 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)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 14,083,787 14,161,778  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 37,892
b Gross sales price for all assets on line 6a 329,175,123
7 Capital gain net income (from Part IV, line 2)... 43,630
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
3,519 0  
12 Total. Add lines 1 through 11........ 14,125,198 14,205,408  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
8,162 4,893   3,269
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
63,260 15,815   0
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
4,243,764 1,963,445   2,247,319
17 Interest...............   1,709    
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
587,547 274,203   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 9,448 0   9,448
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
29,600 104,344   27,600
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 4,941,781 2,364,409   2,287,636
25 Contributions, gifts, grants paid....... 118,315,601 131,719,936
26 Total expenses and disbursements. Add lines 24 and 25 123,257,382 2,364,409   134,007,572
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -109,132,184
b Net investment income (if negative, enter -0-) 11,840,999
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 10,837,895 8,287,022 8,287,022
3 Accounts receivable right arrow27,511
Less: allowance for doubtful accounts right arrow   4,578 27,511 27,511
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 arrow646,468
Less: allowance for doubtful accounts right arrow0 277,763 646,468 646,468
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)....... 355,015,070 Click to see attachment
List of Attached Documents:
// Content
296,153,660 		296,153,660
c Investments—corporate bonds (attach schedule)....... 184,712,228 Click to see attachment
List of Attached Documents:
// Content
161,410,335 		161,410,335
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).......... 51,479,352 Click to see attachment
List of Attached Documents:
// Content
60,529,709 		60,529,709
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 602,326,886 527,054,705 527,054,705
Liabilities 17 Accounts payable and accrued expenses.......... 729,053 525,861
18 Grants payable................. 146,218,900 132,814,565
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) Click to see attachment
List of Attached Documents:
// Content
1,169,376 		Click to see attachment
List of Attached Documents:
// Content
1,411,523
23 Total liabilities (add lines 17 through 22)......... 148,117,329 134,751,949
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........... 454,209,557 392,302,756
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    
29 Total net assets or fund balances (see instructions)..... 454,209,557 392,302,756
30 Total liabilities and net assets/fund balances (see instructions). 602,326,886 527,054,705
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
454,209,557
2
Enter amount from Part I, line 27a .....................
2
-109,132,184
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
51,600,866
4
Add lines 1, 2, and 3 ..........................
4
396,678,239
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
4,375,483
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
392,302,756
Form 990-PF (2024)
Form 990-PF (2024)
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 ST CAPITAL GAIN K-1S P 2024-12-31 2024-12-31
b LT CAPITAL GAIN K-1S P 2023-12-31 2024-12-31
c REALIZED GAIN FROM BOOK P 2023-12-31 2024-12-31
d PUBLICLY TRADED SECURITIES-JPM #5005 P 2023-12-31 2024-12-31
e PUBLICLY TRADED SECURITIES-JPM #5005 P 2023-12-31 2024-12-31
PARENTSQUARE, INC. - SRS P 2022-12-31 2024-12-12
(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     15,847 -15,847
b     157,470 -157,470
c 37,892   37,892 0
d 98,145,974   98,414,862 -268,888
e 230,988,766   230,505,422 483,344
2,491     2,491
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       -15,847
b       -157,470
c       0
d       -268,888
e       483,344
      2,491
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 43,630
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) 1 164,590
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........................... 3 164,590
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- ..... 5 164,590
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 304,376
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.............. 7 304,376
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 10 139,786
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow139,786 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
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$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 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:
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 2024 or the taxable year beginning in 2024? 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 instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowVALHALLA.ORG
14
The books are in care ofright arrowALEX TERMAN Telephone no.right arrow (650) 529-9207

Located atright arrow2995 WOODSIDE ROADWOODSIDECA ZIP+4right arrow94062
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 2024, 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 (2024)
Form 990-PF (2024)
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)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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
Yes
 
b
If "Yes," did it have excess business holdings in 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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
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
H SIGNE OSTBY BOARD CHAIR
4.00 		0 0 0
2995 WOODSIDE ROAD
WOODSIDE,CA94062
SCOTT D COOK TREASURER
2.00 		0 0 0
2995 WOODSIDE ROAD
WOODSIDE,CA94062
ALEX TERMAN SECRETARY
2.00 		0 0 0
2995 WOODSIDE ROAD
WOODSIDE,CA94062
AMY RODDE INTERIM PRESIDENT (THRU 1/2024)
40.00 		0 0 0
2995 WOODSIDE ROAD
WOODSIDE,CA94062
SARA ALLAN PRESIDENT
40.00 		0 0 0
2995 WOODSIDE ROAD
WOODSIDE,CA64062
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
THE BRIDGESPAN GROUP PHILANTHROPIC ADVISORY SERVICES 1,897,602
88 KEARNY ST SUITE 200
SAN FRANCISCO,CA94108
DELIVERY ASSOCIATES LTD PHILANTHROPIC ADVISORY SERVICES 325,000
228 EAST 45TH STREET SUITE 9E
NEW YORK,NY10017
CYANINE BLUE BIOTECHNOLOGY CONSULTING LLC PHILANTHROPIC ADVISORY SERVICES 189,200
2902 NORTHEAST 53RD STREET
SEATTLE,WA98105
ALITHI VORRA CONSULTING LLC PHILANTHROPIC ADVISORY SERVICES 167,290
1700 7TH AVENUE SUITE 2100
SEATTLE,WA98101
MOSS ADAMS LLP ACCOUNTING AND TAX PREPARATION 63,625
101 SECOND STREET SUITE 900
SAN FRANCISCO,CA94105
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1 IN 2019 AND 2020, THE FOUNDATION MADE A TOTAL OF $500,000 IN PROGRAM-RELATED INVESTMENT LOANS TO EARLY LEARNING SOLUTIONS, INC. (ELS). UNDER THE TERMS OF THE LOAN AGREEMENT, ELS MAY REQUEST UP TO $1,000,000 IN TOTAL LOAN FUNDING. INTEREST ON OUTSTANDING PRINCIPAL ACCRUES AT AN ANNUAL RATE OF 2.59%. THE CHARITABLE PURPOSE OF THE LOAN IS TO SUPPORT THE PROVISION OF STANDARDS-ALIGNED, EVIDENCE-BASED EARLY LEARNING MATH SOFTWARE, WITH EFFORTS MADE AND DISCOUNTS PROVIDED TO FACILITATE THE IMPLEMENTATION, TRAINING, AND SALE OF THE SOFTWARE AND SOFTWARE-RELATED SERVICES IN SCHOOLS OR EDUCATIONAL FACILITIES WHERE AT LEAST FIFTY PERCENT OF CHILDREN ENROLLED ARE ELIGIBLE FOR FREE OR REDUCED PRICE MEALS. EXPENDITURE RESPONSIBILITY IS BEING CONDUCTED ON THIS LOAN AND REPORTED ON STATEMENT 15. THE ENTIRE LOAN BALANCE, INCLUDING ACCURED INTEREST, WAS REPAID TO THE FOUNDATION DURING 2024. 0
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2024)
Form 990-PF (2024)
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
505,559,383
b
Average of monthly cash balances.......................
1b
10,575,801
c
Fair market value of all other assets (see instructions)................
1c
61,176,177
d
Total (add lines 1a, b, and c).........................
1d
577,311,361
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
577,311,361
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
8,659,670
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
568,651,691
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
28,432,585
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
28,432,585
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
164,590
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
164,590
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
28,267,995
4
Recoveries of amounts treated as qualifying distributions................
4
250,398
5
Add lines 3 and 4............................
5
28,518,393
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
28,518,393
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
134,007,572
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
134,007,572
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 28,518,393
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 14,560,293
b From 2020...... 37,170,453
c From 2021...... 25,002,356
d From 2022...... 48,684,348
e From 2023...... 84,668,185
f Total of lines 3a through e ........ 210,085,635
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 134,007,572
a Applied to 2023, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 28,518,393
e Remaining amount distributed out of corpus 105,489,179
5 Excess distributions carryover applied to 2024. 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 5 315,574,814
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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		14,560,293
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		301,014,521
10 Analysis of line 9:
a Excess from 2020.... 37,170,453
b Excess from 2021.... 25,002,356
c Excess from 2022.... 48,684,348
d Excess from 2023.... 84,668,185
e Excess from 2024.... 105,489,179
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
H SIGNE OSTBY
SCOTT D COOK
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
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 (2024)
Form 990-PF (2024)
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

ALLIANCE FOR EARLY SUCCESS

PO BOX 53036
WASHINGTON,DC20009 		NONE PC SCALING HIGH QUALITY PUBLIC SCHOOLS 850,000

AVANCE

824 BROADWAY STREET SUITE 204
SAN ANTONIO,TX78215 		NONE PC EARLY CHILDHOOD PARENT EDUCATION SERVICES 250,000

AVINA AMERICAS

1300 I STREET NW SUITE 400E
WASHINGTON,DC20005 		NONE PC MAPBIOMAS 5,000,000

BABY2BABY

5830 W JEFFERSON BOULEVARD SUITE
200
LOS ANGELES,CA90016 		NONE PC SUPPORT FOR LOW-INCOME FAMILIES WITH YOUNG CHILDREN 100,000

BLUE MERIDIAN PARTNERS

415 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10017 		NONE PC COLLABORATIVE PHILANTHROPY INITIATIVE 10,000,000

BOYS AND GIRLS CLUB OF THE COASTSIDE

600 CHURCH STREET
HALF MOON BAY,CA94019 		NONE PC GENERAL OPERATING SUPPORT - EDUCATIONAL PROGRAMS 60,000

BOYS HOPE GIRLS HOPE INTERNATIONAL

12120 BRIDGETON SQUARE
BRIDGETON,MO63044 		NONE PC GENERAL OPERATING SUPPORT - EDUCATIONAL PROGRAMS 333,334

CENTER FOR POLICING EQUITY

PO BOX 102845
LOS ANGELES,CA91189 		NONE PC EVIDENCE-BASED APPROACHES TO SOCIAL JUSTICE, CULTURAL, AND POLICY CHANGE 500,000

CENTERING HEALTHCARE INSTITUTE

89 SOUTH STREET 404
BOSTON,MA02111 		NONE PC MATERNAL AND EARLY CHILDHOOD HEALTHCARE INITIATIVES 1,256,000

CHARTER SCHOOL GROWTH FUND

10901 W 120TH AVENUE SUITE 450
BROOMFIELD,CO80021 		NONE PC SCALING HIGH QUALITY PUBLIC SCHOOLS 7,000,000

CITY FUND

6312 SEVEN CORNERS CENTER 354
FALLS CHURCH,VA22044 		NONE PC SCALING HIGH QUALITY PUBLIC SCHOOLS 8,333,334

COASTSIDE HOPE

248 MAIN STREET 200
HALF MOON BAY,CA94019 		NONE PC GENERAL OPERATING SUPPORT - COMMUNITY PROGRAMS 60,000

CODE FOR AMERICA

972 MISSION STREET 5TH FLOOR
SAN FRANCISCO,CA94103 		NONE PC IMPROVING GOVERNMENT PROGRAMS AND POLICIES 2,000,000

COMMUNITY FOOD BANK OF SOUTHERN ARIZONA

3003 S COUNTRY CLUB ROAD
TUCSON,AZ85713 		NONE PC HUNGER PREVENTION PROGRAMS 100,000

COMPUTER HISTORY MUSEUM

1401 N SHORELINE BOULEVARD
MOUNTAIN VIEW,CA94043 		NONE PC GENERAL OPERATING SUPPORT - EDUCATIONAL PROGRAMS 120,000

CONCORD CONSORTIUM

25 LOVE LANE
CONCORD,MA01742 		NONE PC DATA SCIENCE EDUCATION FIELD-BUILDING INITIATIVES 50,000

CRISIS TEXT LINE

24 WEST 25TH STREET 6TH FLOOR
NEW YORK,NY10010 		NONE PC SCALING MENTAL HEALTH PROGRAMS 2,000,000

DESTINATION HOME

3180 NEWBERRY DRIVE SUITE 200
SAN JOSE,CA95118 		NONE PC HOMELESSNESS PREVENTION PROGRAMS 1,200,000

DIGITAL PROMISE GLOBAL

1001 CONNECTICUT AVENUE NW SUITE
935
WASHINGTON,DC20036 		NONE PC K-12 EDUCATION FIELD-BUILDING INITIATIVE 57,000

DIGNITYMOVES

870 MARKET STREET SUITE 1151
SAN FRANCISCO,CA94102 		NONE PC HOMELESSNESS PREVENTION AND INTERIM SHELTER PROGRAMS 1,000,000

DONORSCHOOSE

134 W 37TH STREET 11TH FLOOR
NEW YORK,NY10018 		NONE PC SUPPORT PUBLIC SCHOOL TEACHERS AND EDUCATIONAL PROGRAMS 1,150,000

EARLY LEARNING SOLUTIONS

22 PEARCE MITCHELL PLACE
STANFORD,CA94305 		NONE NC SCALING EARLY CHILDHOOD MATH PROGRAMS 62,500

EASTSIDE COLLEGE PREPARATORY SCHOOL

1041 MYRTLE STREET
EAST PALO ALTO,CA94303 		NONE PC GENERAL SUPPORT - EDUCATIONAL PROGRAMS 105,000

ENVIRONMENTAL DEFENSE FUND

257 PARK AVENUE SOUTH
NEW YORK,NY10010 		NONE PC METHANE, AGRICULTURE, AND CLEAN AIR INITIATIVES 8,500,000

EVERY CURE

345 PARK AVENUE S 2ND FLOOR
NEW YORK,NY10010 		NONE PC INCREASING ACCESS TO LIFESAVING MEDICATIONS 1,000,000

FEEDING AMERICA

161 N CLARK SUITE 700
CHICAGO,IL60601 		NONE PC HUNGER PREVENTION PROGRAMS 100,000

FEEDING SAN DIEGO

9455 WAPLES STREET SUITE 135
SAN DIEGO,CA92121 		NONE PC HUNGER PREVENTION PROGRAMS 300,000

FOUNDATION FOR EXCELLENCE IN EDUCATION

215 SOUTH MONROE STREET 710
TALLAHASSEE,FL32301 		NONE PC DATA SCIENCE EDUCATION FIELD-BUILDING INITIATIVES 150,000

GLOBAL FISHING WATCH

1025 CONNECTICUT AVENUE NW SUITE
200
WASHINGTON,DC20036 		NONE PC OCEAN CONSERVATION INITIATIVES 2,000,000

GREAT BARRIER REEF FOUNDATION USA

1209 G STREET NE
WASHINGTON,DC20002 		NONE PC OCEAN CONSERVATION INITIATIVES 3,000,000

HARVARD BUSINESS SCHOOL

SOLDIERS FIELD
BOSTON,MA02163 		NONE PC DIGITAL, DATA, AND DESIGN INSTITUTE 3,633,333

IMAGINE WORLDWIDE

575 MARKET STREET
SAN FRANCISCO,CA94105 		NONE PC SCALING INTERNATIONAL EDUCATIONAL PROGRAMS 500,000

INSTITUTE FOR CHILD SUCCESS

613 E MCBEE AVENUE
GREENVILLE,SC29601 		NONE PC EARLY CHILDHOOD DEVELOPMENT FIELD-BUILDING INITIATIVE 300,000

INTERNATIONAL MEDICAL CORPS

12400 WILSHIRE BOULEVARD SUITE 1500
LOS ANGELES,CA90025 		NONE PC HUMANITARIAN RELIEF - GENERAL OPERATING SUPPORT 750,000

INTERNATIONAL REFUGEE ASSISTANCE PROJECT

ONE BATTERY PARK PLAZA 33RD FLOOR
NEW YORK,NY10004 		NONE PC ADVOCACY FOR REFUGEES AND DISPLACED PERSONS 1,666,667

KIPP FOUNDATION

135 MAIN STREET SUITE 1700
SAN FRANCISCO,CA94105 		NONE PC SCALING HIGH QUALITY PUBLIC SCHOOLS 6,000,000

KQED

2601 MARIPOSA STREET
SAN FRANCISCO,CA94110 		NONE PC GENERAL OPERATING SUPPORT - PUBLIC INTEREST MEDIA 5,250

LEADING EDUCATORS

3014 DAUPHINE STREET SUITE L
NEW ORLEANS,LA70117 		NONE PC K-12 TEACHER PROFESSIONAL DEVELOPMENT PROGRAMS 2,150,000

MARSHALL UNIVERSITY FOUNDATION

519 JOHN MARSHALL DRIVE
HUNTINGTON,WV25703 		NONE PC POST-SECONDARY EDUCATION INITIATIVE 6,500,000

NATIONAL CENTER FOR CIVIC INNOVATION

121 AVENUE OF THE AMERICAS
NEW YORK,NY10013 		NONE PC COURSEKATA, A DATA SCIENCE EDUCATION INITIATIVE 800,000

NEW VENTURE FUND

1828 L STREET NW SUITE 300-A
WASHINGTON,DC20036 		NONE PC CLEAN SLATE INITIATIVE, CRIMINAL JUSTICE SYSTEM REFORM 500,000

NEW YORK UNIVERSITY

ONE PARK AVENUE 5TH FLOOR
NEW YORK,NY10016 		NONE PC SCALING PARENTCORPS, AN EARLY CHILDHOOD DEVELOPMENT PROGRAM 329,100

NOORA HEALTH

2443 FILLMORE STREET 380-3203
SAN FRANCISCO,CA94115 		NONE PC CARE COMPANION PROGRAMS 166,667

NURSE-FAMILY PARTNERSHIP

1900 GRANT STREET SUITE 400
DENVER,CO80203 		NONE PC SCALING EARLY CHILDHOOD DEVELOPMENT PROGRAMS 1,200,000

ONE ACRE FUND

1954 FIRST STREET 183
HIGHLAND PARK,IL60035 		NONE PC SCALING INTERNATIONAL DEVELOPMENT PROGRAMS 2,940,000

PUENTE DE LA COSTA SUR

620 NORTH STREET
PESCADERO,CA94060 		NONE PC PROMOTING AND ADVOCATING FOR EQUITABLE ACCESS TO EDUCATION, HEALTH, AND ECONOMIC SECURITY 100,000

QUECHUA BENEFIT

11785 SW RIVER ROAD
HILLSBORO,OR97123 		NONE PC GENERAL SUPPORT - SOCIAL JUSTICE PROGRAMS 6,300

RAND CORPORATION

1776 MAIN STREET
SANTA MONICA,CA90401 		NONE PC PROJECT CANARY, AN ARTIFICIAL INTELLIGENCE SAFETY INITIATIVE 10,000,000

REACH OUT AND READ

89 SOUTH STREET SUITE 201
BOSTON,MA02111 		NONE PC EARLY CHILDHOOD LITERACY PROGRAMS 2,000,000

RENAISSANCE PHILANTHROPY

1045 LIGHT STREET
BALTIMORE,MD21230 		NONE PC K-12 EDUCATION FIELD-BUILDING INITIATIVE 60,000

ROCKEFELLER PHILANTHROPY ADVISORS

6 WEST 48TH STREET 10TH FLOOR
NEW YORK,NY10036 		NONE PC PROMISE VENTURE STUDIO, AN EARLY CHILDHOOD FIELD-BUILDING INITIATIVE 1,000,000

ROCKEFELLER PHILANTHROPY ADVISORS

6 WEST 48TH STREET 10TH FLOOR
NEW YORK,NY10036 		NONE PC PLATFORM FOR AGRICULTURE AND CLIMATE TRANSFORMATION 4,000,000

SAVE THE REDWOODS LEAGUE

111 SUTTER STREET 11TH FLOOR
SAN FRANCISCO,CA94104 		NONE PC GENERAL SUPPORT - CONSERVATION INITIATIVES 63,000

SECOND HARVEST OF SILICON VALLEY

750 CURTNER AVENUE
SAN JOSE,CA94125 		NONE PC HUNGER PREVENTION PROGRAMS 900,000

SEMPERVIRENS FUND

PO BOX 1417
LOS ALTOS,CA94023 		NONE PC GENERAL SUPPORT - CONSERVATION INITIATIVES 31,500

SILICON SCHOOLS FUND

485 LASUEN MALL
STANFORD,CA94305 		NONE PC SCALING HIGH QUALITY PUBLIC SCHOOLS 500,000

SIRUM

3000 EL CAMINO REAL BLDG 4 200
PALO ALTO,CA94306 		NONE PC IMPROVE ACCESS TO MEDICATION 600,000

START EARLY

33 WEST MONROE STREET SUITE 1200
CHICAGO,IL60603 		NONE PC FIRST FIVE YEARS FUND, AN EARLY CHILDHOOD POLICY INITIATIVE 400,000

SUNFLOWER STAR LABORATORY

PO BOX 228
MOSS LANDING,CA95039 		NONE PC OCEAN CONSERVATION RESEARCH 102,500

TALKINGPOINTS

2021 FILLMORE STREET 2124
SAN FRANCISCO,CA94115 		NONE PC SCALING FAMILY ENGAGEMENT TECHNOLOGY PLATFORM 10,000

TEACHERS COLLEGE COLUMBIA UNIVERSITY

525 WEST 120TH STREET BOX 30
NEW YORK,NY10027 		NONE PC BABY'S FIRST YEARS, AN EARLY CHILDHOOD RESEARCH INITIATIVE 700,000

TED FOUNDATION

330 HUDSON STREET 11TH FLOOR
NEW YORK,NY10013 		NONE POF SCALING COLLABORATIVE PHILANTHROPY INITIATIVES 3,000,000

THE BRIDGESPAN GROUP

2 COPLEY PLACE NO 3700B
BOSTON,MA02116 		NONE PC SCALING COLLABORATIVE PHILANTHROPY INITIATIVES 500,000

THE HUNT INSTITUTE

4000 CENTREGREEN WAY SUITE 301
CARY,NC27513 		NONE PC EARLY CHILDHOOD FIELD-BUILDING INITIATIVE 400,000

THE LAND TRUST FOR SANTA BARBARA COUNTY

1530 CHAPALA STREET SUITE A
SANTA BARBARA,CA93101 		NONE PC GENERAL SUPPORT - CONSERVATION INITIATIVES 20,000

THE UNIVERSITY OF CHICAGO

5801 SOUTH ELLIS AVENUE
CHICAGO,IL60637 		NONE PC DATA SCIENCE EDUCATION FIELD-BUILDING INITIATIVES 1,455,000

THINK OF US

700 PENNSYLVANIA AVENUE SE SUITE
200
WASHINGTON,DC20003 		NONE PC GENERAL SUPPORT - FOSTER YOUTH INITIATIVES 1,000,000

UC BERKELEY FOUNDATION

1995 UNIVERSITY AVENUE SUITE 401
BERKELEY,CA94704 		NONE PC INNOVATIVE GENOMICS INSTITUTE 2,000,000

UCSF FOUNDATION

600 W 16TH STREET GENENTECH HALL
S374
SAN FRANCISCO,CA94117 		NONE PC MEDICAL RESEARCH INITIATIVES 4,709,000

UNIVERSITY OF CALIFORNIA LOS ANGELES

10889 WILSHIRE BOULEVARD SUITE 700
LOS ANGELES,CA90095 		NONE PC INTRODUCTION TO DATA SCIENCE, A DATA SCIENCE EDUCATION INITIATIVE 500,000

URBAN INSTITUTE

500 LENFANT PLAZA SW
WASHINGTON,DC20024 		NONE PC IMPACT MEASUREMENT INITIATIVE 230,951

VANDERBILT UNIVERSITY

230 APPLETON PLACE 5721
NASHVILLE,TN37203 		NONE PC PRENATAL-TO-3 POLICY IMPACT CENTER, AN EARLY CHILDHOOD RESEARCH AND POLICY INITIATIVE 500,000

WATERFORD INSTITUTE

4246 RIVERBOAT ROAD
TAYLORSVILLE,UT84123 		NONE PC SCALING KINDERGARTEN READINESS PROGRAMS 2,416,000

WHITEHEAD INSTITUTE

455 MAIN STREET
CAMBRIDGE,MA02142 		NONE PC MEDICAL RESEARCH FELLOWS PROGRAM 900,000

WIKIMEDIA FOUNDATION

1 MONTGOMERY STREET SUITE 1600
SAN FRANCISCO,CA94104 		NONE PC GENERAL SUPPORT - PUBLIC INTEREST MEDIA 6,300

WINDWARD FUND

1828 L STREET NW SUITE 300-C
WASHINGTON,DC20036 		NONE PC METHANE INITIATIVES 6,500,000

WOODSIDE COMMUNITY FOUNDATION

PO BOX 620494
WOODSIDE,CA94062 		NONE PC TRAIL FUND AND CONSERVATION INITIATIVES 24,900

WOODSIDE-PORTOLA VALLEY FIRE PROTECTION FOUNDATION

3111 WOODSIDE ROAD
WOODSIDE,CA94062 		NONE PC FIRE PREVENTION AND CONSERVATION INITIATIVES 6,300

WOODWELL CLIMATE RESEARCH CENTER

149 WOODS HOLE ROAD
FALMOUTH,MA02540 		NONE PC ARCTIC PERMAFROST PROGRAM 1,000,000

ZERO TO THREE

2445 M STREET NW
WASHINGTON,DC20037 		NONE PC HEALTHYSTEPS, AN EARLY CHILDHOOD DEVELOPMENT INITIATIVE 2,000,000
Total .................................right arrow 3a 131,719,936
bApproved for future payment

BOYS HOPE GIRLS HOPE INTERNATIONAL
12120 BRIDGETON SQUARE
BRIDGETON,MO63044 		NONE PC GENERAL OPERATING SUPPORT - EDUCATIONAL PROGRAMS 1,666,666

CITY FUND
6312 SEVEN CORNERS CENTER 354
FALLS CHURCH,VA22044 		NONE PC SCALING HIGH QUALITY PUBLIC SCHOOLS 25,000,000

EARLY LEARNING SOLUTIONS
22 PEARCE MITCHELL PLACE
STANFORD,CA94305 		NONE NC SCALING EARLY CHILDHOOD MATH PROGRAMS 187,500

EVERY CURE
345 PARK AVE S 2ND FLOOR
NEW YORK,NY10010 		NONE PC INCREASING ACCESS TO LIFESAVING MEDICATIONS 9,000,000

INSTITUTE FOR CHILD SUCCESS
613 E MCBEE AVENUE
GREENVILLE,SC29601 		NONE PC EARLY CHILDHOOD DEVELOPMENT FIELD-BUILDING INITIATIVE 300,000

KIPP FOUNDATION
135 MAIN STREET SUITE 1700
SAN FRANCISCO,CA94105 		NONE PC SCALING HIGH QUALITY PUBLIC SCHOOLS 6,000,000

TED FOUNDATION
330 HUDSON STREET 11TH FLOOR
NEW YORK,NY10013 		NONE POF SCALING COLLABORATIVE PHILANTHROPY INITIATIVES 12,000,000

THE UNIVERSITY OF CHICAGO
5801 SOUTH ELLIS AVENUE
CHICAGO,IL60637 		NONE PC DATA SCIENCE EDUCATION FIELD-BUILDING INITIATIVES 110,000

WINDWARD FUND
1828 L STREET NW SUITE 300-C
WASHINGTON,DC20036 		NONE PC METHANE INITIATIVES 23,500,000
Total ................................. right arrow 3b 77,764,166
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 14,083,787  
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 37,892  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aREFUND 		      3,519  
bOTHER INCOME FROM K-1          
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 14,125,198 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
14,125,198
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
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
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Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 63,260 15,815   0

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TY 2024 ExpenditureResponsibilityStmt
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
TED FOUNDATION
  		330 HUDSON STREET 11TH FLOOR
NEW YORK,NY10013 		2024-11-15 3,000,000 SCALING COLLABORATIVE PHILANTHROPY INITIATIVES 3,000,000   THE GRANTEES ANNUAL REPORT WAS REVIEWED IN 2025.   THIS IS YEAR ONE OF A FIVE-YEAR GRANT. AS OF 12/31/2024, $3 MILLION HAS BEEN DISBURSED. THE FOUNDATION CONDUCTED A REVIEW OF THE GRANTEE'S REPORTS AND FOUND THEM TO BE IN COMPLIANCE WITH THE TERMS OF THE GRANT AGREEMENT. THE ANNUAL AND FINAL GRANT REPORT WAS MADE AVAILABLE IN 2025.
EARLY LEARNING SOLUTIONS
  		22 PEARCE MITCHELL PLACE
STANFORD,CA94305 		2020-09-29 500,000 THIS IS A PRI LOAN (NOT GRANT). PROVIDED TO SCALE THE MATH SHELF EARLY CHILDHOOD LEARNING PROGRAM FOR LOW INCOME COMMUNITIES. REFER TO STATEMENT 16.THIS LOAN TERM ENDS IN 2028 AND ANNUALLY ROLLS UNPAID INTEREST INTO THE LOAN'S PRINCIPAL BALANCE. AS OF 12/31/24, THE PRINCIPAL BALANCE WAS $0. EARLY LEARNING SOLUTIONS FULLY REPAID THE BALANCE OF THE LOAN, INCLUDING ACCRUED INTEREST, DURING 2024: $148,809.78 PRINCIPAL AND $1,190.22 ACCRUED INTEREST ON 6/3/24, AND $101,588.55 PRINCIPAL AND $612.43 ACCRUED INTEREST ON 8/27/24. TOTAL PAYMENTS RECEIVED = $252,200.98. 0       THE FOUNDATION CONDUCTED A REVIEW OF THE BORROWER'S EXPENDITURES AND FINAL REPORT AND FOUND THEM TO BE IN COMPLIANCE WITH THE TERMS OF THE PRI LOAN AGREEMENT.
EARLY LEARNING SOLUTIONS
  		22 PEARCE MITCHELL PLACE
STANFORD,CA94305 		2024-08-08 62,500 TO SCALE THE MATH SHELF EARLY CHILDHOOD LEARNING PROGRAM FOR LOW INCOME COMMUNITIES 62,500       AS OF 12/31/2024, $62,500 HAS BEEN DISBURSED. THE FOUNDATION CONDUCTED A REVIEW OF THE GRANTEE'S REPORTS, AND FOUND THEM TO BE IN COMPLIANCE WITH THE TERMS OF THE GRANT AGREEMENT. THE ANNUAL & FINAL GRANT REPORT WAS MADE AVAILABLE IN 2025.

TY 2024 InvestmentsCorpBondsSchedule
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Name of Bond End of Year Book Value End of Year Fair Market Value
PGI HIGH YIELD-R6 14,632,023 14,632,023
PIMCO INTL BND USD HGD-INS 5,005,040 5,005,040
PIMCO LOW DURATION FD-INST 1,200,066 1,200,066
VANGUARD TOTAL BOND MARKET INDEX FUND-ADM 109,125,043 109,125,043
VANGUARD TOTAL INTL BND-ADM 31,448,163 31,448,163

TY 2024 InvestmentsCorpStockSchedule
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Name of Stock End of Year Book Value End of Year Fair Market Value
FIDELITY 500 INDEX-INST PRM 179,620,711 179,620,711
ISHARES CORE MSCI EAFE ETF 19,329,460 19,329,460
ISHARES CORE MSCI EMERGING 18,393,190 18,393,190
JPMORGAN BETABUILDERS CANADA 8,277,383 8,277,383
JPMORGAN BETABUILDERS DEVELO 4,888,163 4,888,163
JPMORGAN BETABUILDERS EUROPE ETF 23,526,843 23,526,843
JPMORGAN BETABUILDERS JAPAN ETF 9,449,698 9,449,698
VANGUARD FTSE EMERGING MARKE 9,828,891 9,828,891
VANGUARD MID-CAP ETF 22,839,321 22,839,321

TY 2024 InvestmentsOtherSchedule2
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
AT ONE VENTURES II FMV 1,395,674 1,395,674
AT ONE VENTURES, LP FMV 7,707,905 7,707,905
DERIVITA FMV 1,267,055 1,267,055
JPMORGAN PEG GLOBAL PRIVATE EQUITY X S.A. SICAV-RAIF FMV 16,738,098 16,738,098
MAGNIFY VENTURES FUND I, LP FMV 896,894 896,894
OCTAVE BIOSCIENCE INC FMV 724,694 724,694
OWL OPPORTUNITY FUND II, LP FMV 1,641,930 1,641,930
OWL VENTURES II, LP FMV 4,515,083 4,515,083
OWL VENTURES III, LP FMV 2,688,012 2,688,012
OWL VENTURES IV LP FMV 2,674,665 2,674,665
OWL VENTURES OPPORTUNITY FUND I LP FMV 1,713,182 1,713,182
OWL VENTURES V, LP FMV 1,138,969 1,138,969
PARENTSQUARE FMV 2,937,921 2,937,921
REACH II, LP FMV 3,161,745 3,161,745
REACH III, LP FMV 1,396,187 1,396,187
REACH IV FMV 1,394,809 1,394,809
REACH OPPORTUNITY I, LP FMV 1,796,672 1,796,672
REACH, LP FMV 3,912,811 3,912,811
RETHINK EDUCATION II, LP FMV 1,872,479 1,872,479
THINKCERCA FMV 954,924 954,924

TY 2024 LegalFeesSchedule
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 8,162 4,893   3,269


TY 2024 OtherDecreasesSchedule
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Description Amount
IMPAIRMENT ON INVESTMENTS IN PRIVATELY HELD COMPANIES 4,375,483


TY 2024 OtherExpensesSchedule
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MEMBERSHIP DUES 29,200 0   27,600
OTHER PORTFOLIO DEDUCTIONS - K-1S 0 104,344   0
STATE REGISTRATION FEES 400 0   0


TY 2024 OtherIncomeSchedule2
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
REFUND 3,519   3,519


TY 2024 OtherIncreasesSchedule
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Description Amount
NET UNREALIZED GAIN 51,600,866


TY 2024 OtherLiabilitiesSchedule
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Description Beginning of Year - Book Value End of Year - Book Value
PROVISION FOR TAXES 1,169,376 1,411,523


TY 2024 OtherProfessionalFeesSchedule
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
CONSULTING FEES 2,078,490 0   2,247,319
PORTFOLIO SUPPORT SERVICES 178,329 0   0
INVESTMENT MANAGEMENT FEES 1,963,445 1,246,060   0
FINANCE AND OPERATIONS CONSULTING 23,500 0   0
K-1 - PORTFOLIO EXPENSES 0 717,385   0


TY 2024 TaxesSchedule
Name:
VALHALLA FOUNDATION
EIN:
20-0478828
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL TAXES 587,547 0   0
FOREIGN TAXES 0 274,203   0