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
THE GROVE FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 1667
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
LOS ALTOS, CA940231667
A Employer identification number

77-0108124
B Telephone number (see instructions)

(650) 464-4336
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$106,147,275J 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) 20,077,865
2 Check right arrow.............
3 Interest on savings and temporary cash investments 2,601,431 2,463,663  
4 Dividends and interest from securities... 286,307 503,935  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,900,712
b Gross sales price for all assets on line 6a 16,709,811
7 Capital gain net income (from Part IV, line 2)... 4,097,464
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
0 48,704  
12 Total. Add lines 1 through 11........ 25,866,315 7,113,766  
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
7,014 0   7,014
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
43,200 6,480   36,720
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
321,841 328,370   56,112
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
62,000 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 16,308 0   16,308
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
114,618 0   114,618
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 564,981 334,850   230,772
25 Contributions, gifts, grants paid....... 19,589,578 19,425,400
26 Total expenses and disbursements. Add lines 24 and 25 20,154,559 334,850   19,656,172
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 5,711,756
b Net investment income (if negative, enter -0-) 6,778,916
c Adjusted net income (if negative, enter -0-)...  
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......... 30,972,125 52,256,944 52,256,944
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 arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 32,403,480 Click to see attachment
List of Attached Documents:
// Content
28,343,515 		28,343,515
b Investments—corporate stock (attach schedule)....... 6,701,543 0 0
c Investments—corporate bonds (attach schedule)....... 10,765,444 Click to see attachment
List of Attached Documents:
// Content
10,179,212 		10,179,212
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).......... 7,121,340 Click to see attachment
List of Attached Documents:
// Content
3,768,159 		6,968,318
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
8,195,848 		Click to see attachment
List of Attached Documents:
// Content
8,399,286 		Click to see attachment
List of Attached Documents:
// Content
8,399,286
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 96,159,780 102,947,116 106,147,275
Liabilities 17 Accounts payable and accrued expenses.......... 894 832
18 Grants payable................. 1,805,000 2,063,000
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)......... 1,805,894 2,063,832
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........... 94,353,886 100,883,284
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)..... 94,353,886 100,883,284
30 Total liabilities and net assets/fund balances (see instructions). 96,159,780 102,947,116
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
94,353,886
2
Enter amount from Part I, line 27a .....................
2
5,711,756
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
817,642
4
Add lines 1, 2, and 3 ..........................
4
100,883,284
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
100,883,284
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 PASSTHROUGH CAPITAL GAIN P 2023-09-30 2024-09-30
b PUBLICLY TRADED SECURITIES P    
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 279,381     279,381
b 16,430,430   12,612,347 3,818,083
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       279,381
b       3,818,083
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 4,097,464
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 94,227
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 94,227
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 94,227
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 62,828
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 54,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 116,828
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 22,601
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow22,601 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$ 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
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
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 arrowWWW.GROVEFOUNDATION.ORG
14
The books are in care ofright arrowLESLIE DOROSIN Telephone no.right arrow (650) 464-4336

Located atright arrowPO BOX 1667LOS ALTOSCA ZIP+4right arrow940231667
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
KAREN GROVE BOARD CHAIR
8.00 		0 0 0
PO BOX 1667
LOS ALTOS,CA94023
LESLIE DOROSIN TREASURER/CFO
15.00 		0 0 0
PO BOX 1667
LOS ALTOS,CA94023
BLANCH VANCE SECRETARY
20.00 		0 0 0
PO BOX 1667
LOS ALTOS,CA94023
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 (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
CANDIDE GROUP INVESTMENT CONSULTING 66,740
1721 BROADWAY STE 201
OAKLAND,CA94612
TRILLIUM ASSET MANAGEMENT ASSET MANAGEMENT 61,387
1 CONGRESS STREET SUITE 3101
BOSTON,MA02114
BRECKINRIDGE CAPITAL ADVISORS INC ASSET MANAGEMENT 56,166
125 HIGH STREET SUITE 431
BOSTON,MA02110
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  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
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
48,442,237
b
Average of monthly cash balances.......................
1b
29,801,161
c
Fair market value of all other assets (see instructions)................
1c
6,968,318
d
Total (add lines 1a, b, and c).........................
1d
85,211,716
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
85,211,716
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,278,176
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
83,933,540
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
4,196,677
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
4,196,677
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
94,227
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
94,227
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
4,102,450
4
Recoveries of amounts treated as qualifying distributions................
4
1,180,138
5
Add lines 3 and 4............................
5
5,282,588
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
5,282,588
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
19,656,172
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
19,656,172
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 5,282,588
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 13,456,111
b From 2019...... 17,854,351
c From 2020...... 15,061,374
d From 2021...... 17,697,673
e From 2022...... 14,151,895
f Total of lines 3a through e ........ 78,221,404
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 19,656,172
a Applied to 2022, 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 2023 distributable amount..... 5,282,588
e Remaining amount distributed out of corpus 14,373,584
5 Excess distributions carryover applied to 2023. 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 92,594,988
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 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
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) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		13,456,111
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		79,138,877
10 Analysis of line 9:
a Excess from 2019.... 17,854,351
b Excess from 2020.... 15,061,374
c Excess from 2021.... 17,697,673
d Excess from 2022.... 14,151,895
e Excess from 2023.... 14,373,584
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).)
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

ABODE SERVICES

1156 NORTH 4TH STREET
SAN JOSE,CA95112 		N/A PC HOUSING PROGRAM FOR FARMWORKERS IN HALF MOON BAY 100,000

ABORTION FREEDOM PARTNERSHIP

14435 C BIG BASIN WAY SUITE 106
SARATOGA,CA95070 		N/A PC REPROCARE HEALTHLINE 60,000

ACCESS REPRODUCTIVE JUSTICE

PO BOX 3609
OAKLAND,CA946090609 		N/A PC GENERAL SUPPORT 200,000

ACT FOR WOMEN AND GIRLS

PO BOX 536
VISALIA,CA932790536 		N/A PC GENERAL SUPPORT 105,000

ACTIVATE 48 EDUCATION FUND

5716 N 19TH AVENUE
PHOENIX,AZ85015 		N/A PC GENERAL SUPPORT 100,000

ADVOCATES FOR YOUTH

1325 G STREET NW SUITE 980
WASHINGTON,DC20005 		N/A PC GENERAL SUPPORT, FOSE, WORKING TO INSTITUTIONALIZE SEX EDUCATION (WISE) 780,000

AL OTRO LADO

511 E SAN YSIDRO BOULEVARD SUITE
333
SAN YSIDRO,CA92173 		N/A PC GENERAL SUPPORT 55,000

ALAMEDA HEALTH SYSTEM FOUNDATION

350 FRANK H OGAWA PLAZA SUITE 900
OAKLAND,CA94612 		N/A PC BELOVEDBIRTH BLACK CENTERING 100,000

ALIENTO EDUCATION FUND

4747 N 32ND STREET
PHOENIX,AZ85018 		N/A PC GENERAL SUPPORT 55,000

AMALGAMATED FOUNDATION

1825 K STREET NW
WASHINGTON,DC20006 		N/A PC BOARD AND STAFF DISCRETIONARY FUND 652,000

AMERICAN ASSOCIATION OF PEOPLE WITH DISABILITIES

2020 PENNSYLVANIA AVENUE MAILBOX
263
WASHINGTON,DC20006 		N/A PC REV UP PROGRAM 80,000

AMERICAN BUSINESS IMMIGRATION COALITION

1805 S ASHLAND AVE
CHICAGO,IL60608 		N/A PC GENERAL SUPPORT 52,000

APIARY FOR PRACTICAL SUPPORT

99 WALL STREET SUITE 1279
NEW YORK,NY10005 		N/A PC GENERAL SUPPORT 220,000

ARIZONA CENTER FOR EMPOWERMENT

5710 NORTH 19TH AVENUE
PHOENIX,AZ85015 		N/A PC WOMEN'S COLLECTIVE 75,000

ASIAN LAW CAUCUS

55 COLUMBUS AVENUE
SAN FRANCISCO,CA941112101 		N/A PC GENERAL SUPPORT 230,000

ASYLUM SEEKER ADVOCACY PROJECT INC

228 PARK AVENUE S SUITE 84810
NEW YORK,NY10003 		N/A PC GENERAL SUPPORT 70,000

BISC FOUNDATION

1319 F ST NW STE 301 238
WASHINGTON,DC20004 		N/A PC GENERAL SUPPORT 50,000

BLACK PHOENIX ORGANIZING COLLECTIVE

3101 N CENTRAL AVENUE SUITE 610
PHOENIX,AZ85012 		N/A PC GENERAL SUPPORT 65,000

BLACK VOTERS MATTER CAPACITY BUILDING INSTITUTE

3645 MARKETPLACE BLVD SUITE 130-209
EAST POINT,GA30344 		N/A PC GENERAL SUPPORT 340,000

BLACK WOMEN FOR WELLNESS

PO BOX 292516
LOS ANGELES,CA900297516 		N/A PC GENERAL SUPPORT 200,000

BOLD

1330 NE 132ND STREET
NORTH MIAMI,FL33161 		N/A PC GENERAL SUPPORT 150,000

CABRILLO COLLEGE FOUNDATION

THE SESNON HOUSE 6500 SOQUEL DRIVE
APTOS,CA950033119 		N/A PC CABRILLO COLLEGE CAREER TECHNICAL EDUCATION HIGH ACHIEVER SCHOLARSHIP 100,000

CALIFORNIA COLLABORATIVE FOR IMMIGRANT JUSTICE

1999 HARRISON STREET
OAKLAND,CA94612 		N/A PC GENERAL SUPPORT 300,000

CALIFORNIA IMMIGRANT POLICY CENTER

634 S SPRING STREET SUITE 600A
LOS ANGELES,CA900143906 		N/A PC GENERAL SUPPORT 110,000

CALIFORNIA LATINAS FOR REPRODUCTIVE JUSTICE

PO BOX 861766
LOS ANGELES,CA90086 		N/A PC GENERAL SUPPORT 120,000

CAPACITY SHOP

850 LAUREL STREET
ALAMEDA,CA94501 		N/A PC GENERAL SUPPORT, ARIZONA EMPOWER & PROTECT PROGRAM 105,000

CARDEA

614 GRAND AVENUE SUITE 400
OAKLAND,CA946103562 		N/A PC WISE 250,000

CASA

8151 15TH AVENUE
HYATTSVILLE,MD20783 		N/A PC TPS ACTION FUNDING COLLABORATIVE 60,000

CATCHAFIRE FOUNDATION

885 MISSION STREET SUITE D2
SAN FRANCISCO,CA94103 		N/A PC CATCHAFIRE COHORT AND CATCHAFIRE CIVIC ENGAGEMENT EFFORTS 157,000

CENTER FOR CIVIC POLICY

PO BOX 27616
ALBUQUERQUE,NM871257616 		N/A PC GENERAL SUPPORT 100,000

CENTRAL VALLEY IMMIGRANT INTEGRATION COLLABORATIVE

5014 E UNIVERSITY AVENUE SUITE 101
FRESNO,CA93727 		N/A PC GENERAL SUPPORT 60,000

CHICAGO VOLUNTEER DOULAS

PO BOX 5851
CHICAGO,IL60680 		N/A PC GENERAL SUPPORT 25,000

CHINESE PROGRESSIVE ASSOCIATION

436 14TH STREET
OAKLAND,CA94612 		N/A PC BLACK FUTURE'S LAB 50,000

CLIMATE RESILIENT COMMUNITIES

3921 EAST BAYSHORE ROAD
PALO ALTO,CA94303 		N/A PC GENERAL SUPPORT 120,000

COASTSIDE HOPE

PO BOX 1089
EL GRANADA,CA940181089 		N/A PC GENERAL SUPPORT 320,000

COMMON CAUSE GEORGIA EDUCATION FUND

250 GEORGIA AVE SE SUITE 202
ATLANTA,GA30312 		N/A PC GEORGIA OPERATIONS 50,000

COMMON COUNSEL FOUNDATION

1624 FRANKLIN STREET SUITE 1022
OAKLAND,CA94612 		N/A PC HIVE FUND 50,000

COMMON DEFENSE EDUCATION FUND

251 W 30TH STREET
NEW YORK,NY10001 		N/A PC FOR THE ARIZONA OPERATIONS 100,000

COMMUNITY INITIATIVES

PO BOX 411512
SAN FRANCISCO,CA94141 		N/A PC IMMIGRANTS RISING 270,000

COMMUNITY LEGAL SERVICES IN EAST PALO ALTO INC

1861 BAY ROAD
EAST PALO ALTO,CA94303 		N/A PC GENERAL SUPPORT 250,000

COMUNIDADES INDIGENAS EN LIDERAZGO CORP

4318 S MAIN STREET
LOS ANGELES,CA90037 		N/A PC GENERAL SUPPORT 60,000

CORA COMMUNITY OVERCOMING RELATIONSHIP ABUSE

PO BOX 5090
SAN MATEO,CA94403 		N/A PC GENERAL SUPPORT 120,000

DC ABORTION FUND

PO BOX 65061
WASHINGTON,DC20035 		N/A PC GENERAL SUPPORT 50,000

DISABILITY LAW UNITED

1245 E COLFAX AVENUE SUITE 400
DENVER,CO80218 		N/A PC GENERAL SUPPORT 95,000

EYES OPEN IOWA

4000 WESTOWN PARKWAY SUITE 204
WEST DES MOINES,IA50266 		N/A PC GENERAL SUPPORT AND WISE 175,000

FAITH IN ACTION BAY AREA

1336 ARROYO AVE
SAN CARLOS,CA940703913 		N/A PC VOTER ENGAGEMENT EFFORTS IN SAN MATEO COUNTY 25,000

FORWARD TOGETHER

300 FRANK H OGAWA PLAZA SUITE 700
OAKLAND,CA94612 		N/A PC GENERAL SUPPORT 250,000

FUERTE ART COLLECTIVE

110 NORTH 9TH AVENUE SUITE 912
PHOENIX,AZ85007 		N/A PC GENERAL SUPPORT 65,000

FUNDERS FOR REPRODUCTIVE EQUITY INC

PO BOX 750
ROCKVILLE,MD208480750 		N/A PC GENERAL SUPPORT 20,000

GEORGIA CAMPAIGN FOR ADOLESCENT POWER AND POTENTIAL

1849 THE EXCHANGE SE SUITE 200
ATLANTA,GA30339 		N/A PC WISE 145,000

GEORGIA COALITION FOR THE PEOPLES AGENDA

501 PULLIAM STREET SUITE 410
ATLANTA,GA30312 		N/A PC GENERAL SUPPORT 100,000

GRANTMAKERS CONCERNED WITH IMMIGRANTS AND REFUGEES

PO BOX 2178
PETALUMA,CA949532178 		N/A PC GENERAL SUPPORT AND CA IMMIGRANT INFRASTRUCTURE & INNOVATION FUND 175,000

GREATER BIRMINGHAM MINISTRIES

2304 12TH AVENUE NORTH
BIRMINGHAM,AL35234 		N/A PC GENERAL SUPPORT 140,000

GROUNDSWELL FUND

436 14TH STREET STE 723
OAKLAND,CA946122709 		N/A PC GENERAL SUPPORT 200,000

HIAS

1300 SPRING ST STE 500
SILVER SPRING,MD209103634 		N/A PC GENERAL SUPPORT 100,000

HIP HOUSING DEVELOPMENT CORPORATION

364 S RAILROAD AVENUE
SAN MATEO,CA944014024 		N/A PC GENERAL SUPPORT 100,000

HOUSING LEADERSHIP COUNCIL OF SAN MATEO COUNTY

2905 S EL CAMINO REAL
SAN MATEO,CA944032730 		N/A PC MILBRAE HOUSING WORK 100,000

HUMAN RIGHTS FIRST

121 W 36TH STREET PMB 520
NEW YORK,NY10018 		N/A PC REFUGEE SUPPORT 85,000

IFWHENHOW

1730 FRANKLIN STREET SUITE 212
OAKLAND,CA94612 		N/A PC GENERAL SUPPORT 300,000

IMMIGRANT LEGAL RESOURCE CENTER

1458 HOWARD STREET
SAN FRANCISCO,CA941032473 		N/A PC GENERAL SUPPORT AND NEW AMERICANS CAMPAIGN 645,000

IMMIGRATION INSTITUTE OF THE BAY AREA

2600 MIDDLEFIELD ROAD
REDWOOD CITY,CA94063 		N/A PC GENERAL SUPPORT 210,000

INLAND COALITION FOR IMMIGRANT JUSTICE

2441 N SIERRA WAY
SAN BERNARDINO,CA92405 		N/A PC IMMIGRANT COALITION 20,000

INSTITUTE FOR A PROGRESSIVE NEVADA

2657 WINDMILL PARKWAY SUITE 619
HENDERSON,NV890743384 		N/A PC ORGANIZATIONAL EFFECTIVENESS 10,000

INTERNATIONAL REFUGEE ASSISTANCE PROJECT

ONE BATTERY PARK PLAZA 4TH FLOOR
NEW YORK,NY10004 		N/A PC GENERAL SUPPORT 85,000

INTERNATIONAL RESCUE COMMITTEE INC

440 GRAND AVENUE SUITE 500
OAKLAND,CA94610 		N/A PC GENERAL SUPPORT, NORTHERN CA OPERATIONS CAREER-BASED TRAINING SCHOLARSHIP PROGRAM, PATHWAYS TO CITIZENSHIP, AND GAZA CRISIS RELIEF 647,500

JOBTRAIN INC

1200 O BRIEN DRIVE
MENLO PARK,CA940251413 		N/A PC GENERAL SUPPORT 250,000

JUSTICE IN MOTION

PO BOX 160128
BROOKLYN,NY11216 		N/A PC GENERAL SUPPORT 62,500

LEADING FOR CHANGE INC

55 E VERNON AVENUE
PHOENIX,AZ85004 		N/A PC LEADERS FELLOWSHIP AND GENERAL SUPPORT 30,000

LEAGUE OF CONSERVATION VOTERS EDUCATION FUND

740 15TH STREET NW SUITE 700
WASHINGTON,DC20005 		N/A PC CHISPA PROGRAM 350,000

LEGAL AID SOCIETY OF SAN MATEO CO

330 TWIN DOLPHIN DRIVE SUITE 123
REDWOOD CITY,CA94065 		N/A PC LIBRE PROJECT 170,000

LIFEMOVES

181 CONSTITUTION DRIVE
MENLO PARK,CA94025 		N/A PC GENERAL SUPPORT AND EXECUTIVE SENIOR LEADERSHIP DEVELOPMENT 150,000

MAKE THE ROAD NEVADA

4250 E BONANZA ROAD SUITE 14
LAS VEGAS,NV89110 		N/A PC NEVADA ENVIRONMENTAL JUSTICE COALITION 15,000

MIDWEST ACCESS COALITION

PO BOX 408363
CHICAGO,IL60640 		N/A PC GENERAL SUPPORT 50,000

NATIONAL CENTER FOR YOUTH LAW

1212 BROADWAY SUITE 600
OAKLAND,CA94612 		N/A PC GENERAL SUPPORT 60,000

NATIONAL IMMIGRATION PROJECT

2201 WISCONSIN AVE NW SUITE 200
WASHINGTON,DC20007 		N/A PC GENERAL SUPPORT 70,000

NATIONAL PARTNERSHIP FOR NEW AMERICANS

1818 S PAULINA ST
CHICAGO,IL606082719 		N/A PC NATIONAL IMMIGRANT INCLUSION CONFERENCE 15,000

NATIONAL URBAN INDIAN FAMILY COALITION

4000 AURORA AVENUE N SUITE 102
SEATTLE,WA98103 		N/A PC CIVIC ENGAGEMENT EFFORTS IN ARIZONA, NEVADA, AND NEW MEXICO 170,000

NATIVE AMERICAN RIGHTS FUND

1506 BROADWAY
BOULDER,CO80302 		N/A PC GENERAL SUPPORT 100,000

NEO PHILANTHROPY INC

1001 AVENUE OF THE AMERICAS 12TH
FLOOR
NEW YORK,NY10018 		N/A PC BLACK MIGRANT POWER FUND, ELEVATOR SPEECH TRAINING, FOUR FREEDOMS FUND, LIBERATING ABORTION FUND, PATIENT FORWARD, SILVER STATE VOICES, STATE INFRASTRUCTURE FUND, STATES AT THE CENTER 1,171,400

NEW AMERICAN LEADERS

530 7TH AVE FL M1
NEW YORK,NY10018 		N/A PC ARIZONA, NEVADA AND CALIFORNIA OPERATIONS 200,000

NEW MEXICO BLACK LEADERSHIP COUNCIL

1258 ORTIZ SE 304
ALBUQUERQUE,NM87108 		N/A PC THE NEW MEXICO BLACK VOTERS COLLABORATIVE 80,000

NEW VENTURE FUND

1201 CONNECTICUT AVENUE NW SUITE
300
WASHINGTON,DC20036 		N/A PC CENSUS EQUITY INITIATIVE PROJECT AND FAIR REPRESENTATION IN REDISTRICTING INITIATIVE 250,000

NON-PROFIT HOUSING ASSOCIATION OF NORTHERN CALIFORNIA

49 STEVENSON SUITE 500
SAN FRANCISCO,CA94105 		N/A PC GENERAL SUPPORT 80,000

NORTH MAIN STREET FUND

114 NORTH MAIN STREET SUITE 203
CONCORD,NH03301 		N/A PC SOMOS VOTANTES 75,000

NUESTRA CASA DE EAST PALO ALTO

2396 UNIVERSITY AVENUE
EAST PALO ALTO,CA94303 		N/A PC GENERAL SUPPORT 150,000

ONE ARIZONA

345 E PALM LANE
PHOENIX,AZ85004 		N/A PC GENERAL SUPPORT, ARIZONA ASIAN AMERICAN NATIVE HAWAIIAN AND PACIFIC ISLANDER FOR EQUITY COALITION, ARIZONA DEMOCRACY RESOURCE CENTER, AND WINGBEAT 88 490,000

ONE EAST PALO ALTO

903 WEEKS STREET
EAST PALO ALTO,CA94303 		N/A PC GENERAL SUPPORT 150,000

ONEJUSTICE

433 CALIFORNIA STREET SUITE 815
SAN FRANCISCO,CA941042012 		N/A PC GENERAL SUPPORT 100,000

PANGEA LEGAL SERVICES

391 SUTTER ST SUITE 500
SAN FRANCISCO,CA94104 		N/A PC GENERAL SUPPORT 63,000

PEAK GRANTMAKING

1701 PENNSYLVANIA AVE NW SUITE 200
WASHINGTON,DC20006 		N/A PC GENERAL SUPPORT 15,000

PENINSULA CONFLICT RESOLUTION CENTER

1670 S AMPHLETT BOULEVARD SUITE 115
SAN MATEO,CA94402 		N/A PC GENERAL SUPPORT 200,000

PENINSULA FAMILY SERVICE

24 SECOND AVENUE
SAN MATEO,CA944013828 		N/A PC GENERAL SUPPORT 80,000

PLANNED PARENTHOOD MAR MONTE INC

1691 THE ALAMEDA
SAN JOSE,CA951262203 		N/A PC GENERAL SUPPORT 200,000

POWER COALITION FOR EQUITY & JUSTICE

4930 WASHINGTON AVENUE
NEW ORLEANS,LA70125 		N/A PC GENERAL SUPPORT 235,000

PREGNANCY JUSTICE

575 8TH AVE SUITE 700
NEW YORK,NY10018 		N/A PC GENERAL SUPPORT 75,000

PROGEORGIA

151 ELLIS STREET NE
ATLANTA,GA30303 		N/A PC GENERAL SUPPORT 150,000

PROGRESSIVE LEADERSHIP ALLIANCE OF NEVADA

2330 PASEO DEL PRADO SUITE C109
LAS VEGAS,NV89102 		N/A PC GENERAL SUPPORT 75,000

PROGRESSNOW AZ INSTITUTE

345 E PALM LN
PHOENIX,AZ85004 		N/A PC GENERAL SUPPORT 55,000

PUENTE DE LA COSTA SUR

PO BOX 554
PESCADERO,CA940600554 		N/A PC GENERAL SUPPORT AND CAPITAL CAMPAIGN 320,000

RAVENSWOOD EDUCATION FOUNDATION

PO BOX 396
MENLO PARK,CA940260396 		N/A PC GENERAL SUPPORT 10,000

RAVENSWOOD FAMILY HEALTH CENTER

1885 BAY ROAD
EAST PALO ALTO,CA943031611 		N/A PC GENERAL SUPPORT 120,000

REDWOOD CITY ELEMENTARY

750 BRADFORD STREET
REDWOOD CITY,CA940631727 		N/A GOV REDWOOD CITY COMMUNITY SCHOOLS 150,000

RUTGERS UNIVERSITY

57 US HIGHWAY 1
NEW BRUNSWICK,NJ089018554 		N/A PC ANSWER, RUTGERS UNIVERSITY 100,000

SAMARITAN HOUSE

4031 PACIFIC BLVD
SAN MATEO,CA94403 		N/A PC GENERAL SUPPORT 120,000

SILICON VALLEY COMMUNITY FOUNDATION

2440 W EL CAMINO REAL SUITE 300
MOUNTAIN VIEW,CA940401498 		N/A PC CALIFORNIA BLACK FREEDOM FUND AND SAN MATEO COUNTY EQUITY WORK 200,000

SOCIAL & ENVIRONMENTAL ENTREPRENEURS

4991 E MCKINLEY AVENUE SUITE 109
FRESNO,CA93727 		N/A PC CENTRAL VALLEY AIR QUALITY COALITION 100,000

SOCIAL GOOD FUND (IMMIGRANT DEFENSE ADVOCATES)

1215 39TH STREET
SACRAMENTO,CA95816 		N/A PC IMMIGRANT DEFENSE ADVOCATES 65,000

SOCIAL GOOD FUND (UNITED STATELESS)

3 N COLUMBUS BLVD 224
PHILADELPHIA,PA19106 		N/A PC UNITED STATELESS 60,000

SOMOS UN PUEBLO UNIDO

1804 ESPINACITAS ST
SANTA FE,NM87505 		N/A PC NEW MEXICO ORGANIZING COLLABORATIVE 225,000

SOUTHERN POVERTY LAW CENTER INC

400 WASHINGTON AVENUE
MONTGOMERY,AL361010548 		N/A PC IMMIGRANT RIGHTS 50,000

STARVISTA

610 ELM STREET SUITE 212
SAN CARLOS,CA940703070 		N/A PC GENERAL SUPPORT 120,000

STATE VOICES

1616 P STREET NW SUITE 220
WASHINGTON,DC20036 		N/A PC GENERAL SUPPORT 40,000

TAHIRIH JUSTICE CENTER

6402 ARLINGTON BOULEVARD SUITE 300
FALLS CHURCH,VA220422333 		N/A PC GENERAL SUPPORT 100,000

TEEN HEALTH MISSISSIPPI

125 SOUTH CONGRESS STREET SUITE
1510
JACKSON,MI392013301 		N/A PC WISE 80,000

TEWA WOMEN UNITED

PO BOX 397
SANTA CRUZ,NM875670397 		N/A PC GENERAL SUPPORT 125,000

THE FOUNDATION FOR CITY COLLEGE

160 CONVENT AVENUE SHEPARD 154
NEW YORK,NY10031 		N/A PC ACRIVOS FELLOWSHIP, A.X. SCHMIDT SCHOLARSHIPS 150,000

THE ORDINARY PEOPLE SOCIETY INC

403 WEST POWELL STREET
DOTHAN,AL36303 		N/A PC GENERAL SUPPORT 65,000

THRIVE ALLIANCE

REDWOOD SHORES 330 TWIN DOLPHIN
DRIVE SUITE 155
REDWOOD CITY,CA94065 		N/A PC NONPROFIT RACIAL JUSTICE SUMMIT 10,000

TIDES CENTER

5470 W SPRUCE AVE ST 103
FRESNO,CA93727 		N/A PC MOVE THE VALLEY 150,000

TIDES FOUNDATION

1012 TORNEY AVENUE
SAN FRANCISCO,CA941291755 		N/A PC AZ OPERATIONS OF PODER LATINX COLLECTIVE FUND, ADVANCE NATIVE POLITICAL LEADERSHIP, ADVANCE NATIVE POLITICAL LEADERSHIP EDUCATION FUNDS 2024 NATIVE POWER BUILDING SUMMIT AND THE MAKE IT WORK EDUCATION FUND 215,000

TO NIZHONI ANI

PO BOX 657
KYKOTSMOVI,AZ860390657 		N/A PC GENERAL SUPPORT 270,000

TRAILHEAD INSTITUTE

999 BROADWAY SUITE 600
DENVER,CO80202 		N/A PC WISE 160,000

TRANS QUEER PUEBLO

1726 E ROOSEVELT STREET
PHOENIX,AZ85006 		N/A PC GENERAL SUPPORT 100,000

UNITED WE DREAM NETWORK INC

1900 L ST NW STE 900
WASHINGTON,DC200365005 		N/A PC GENERAL SUPPORT 50,000

UNIVERSITY OF CALIFORNIA SAN FRANCISCO FOUNDATION

200 MCALLISTER STREET
SAN FRANCISCO,CA94102 		N/A PC CENTER FOR GENDER & REFUGEE STUDIES 90,000

WEST FUND

PO BOX 920088
EL PASO,TX79902 		N/A PC GENERAL SUPPORT 100,000

WILD WEST ACCESS FUND OF NEVADA

561 KEYSTONE AVENUE SUITE 398
RENO,NV89503 		N/A PC GENERAL SUPPORT 25,000

WOMEN ENGAGED

352 UNIVERSITY AVENUE SW SUITE
N-120
ATLANTA,GA30310 		N/A PC GENERAL SUPPORT 100,000

WOMEN'S REFUGEE COMMISSION

15 W 37TH STREET NINTH FLOOR
NEW YORK,NY10018 		N/A PC GENERAL SUPPORT 85,000

WORKMONEY FOUNDATION INC

790 N MILWAUKEE STREET SUITE 300
MILWAUKEE,WI53202 		N/A PC PROJECT LA COSECHA IN ARIZONA AND NEVADA 50,000

YES IN MY BACK YARD

1260 MISSION STREET
SAN FRANCISCO,CA94103 		N/A PC GENERAL SUPPORT 25,000

YOUTH UNITED FOR COMMUNITY ACTION

2135 CLARKE AVENUE
EAST PALO ALTO,CA94303 		N/A PC GENERAL SUPPORT 150,000
Total .................................right arrow 3a 19,425,400
bApproved for future payment

ASYLUM SEEKER ADVOCACY PROJECT INC
228 PARK AVENUE S SUITE 84810
NEW YORK,NY10003 		N/A PC GENERAL SUPPORT 70,000

CALIFORNIA COLLABORATIVE FOR IMMIGRANT JUSTICE
1999 HARRISON STREET
OAKLAND,CA94612 		N/A PC GENERAL SUPPORT 300,000

CALIFORNIA IMMIGRANT POLICY CENTER
634 S SPRING STREET SUITE 600A
LOS ANGELES,CA900143906 		N/A PC GENERAL SUPPORT 110,000

COMMUNITY LEGAL SERVICES IN EAST PALO ALTO INC
1861 BAY ROAD
EAST PALO ALTO,CA94303 		N/A PC GENERAL SUPPORT 120,000

COMUNIDADES INDIGENAS EN LIDERAZGO CORP
4318 S MAIN STREET
LOS ANGELES,CA90037 		N/A PC GENERAL SUPPORT 60,000

GRANTMAKERS CONCERNED WITH IMMIGRANTS AND REFUGEES
PO BOX 2178
PETALUMA,CA949532178 		N/A PC CALIFORNIA IMMIGRANT JUSTICE INFRASTRUCTURE & INNOVATION FUND 240,000

INTERNATIONAL REFUGEE ASSISTANCE PROJECT
ONE BATTERY PARK PLAZA 4TH FLOOR
NEW YORK,NY10004 		N/A PC GENERAL SUPPORT 85,000

INTERNATIONAL RESCUE COMMITTEE INC
440 GRAND AVENUE SUITE 500
OAKLAND,CA94610 		N/A PC GENERAL SUPPORT, PATHWAYS TO CITIZENSHIP AND STATUS 400,000

LEGAL AID SOCIETY OF SAN MATEO CO
330 TWIN DOLPHIN DRIVE SUITE 123
REDWOOD CITY,CA94065 		N/A PC LIBRE PROJECT 170,000

NATIONAL CENTER FOR YOUTH LAW
1212 BROADWAY SUITE 600
OAKLAND,CA94612 		N/A PC GENERAL SUPPORT 60,000

NATIONAL IMMIGRATION PROJECT
2201 WISCONSIN AVE NW SUITE 200
WASHINGTON,DC20007 		N/A PC GENERAL SUPPORT 70,000

ONEJUSTICE
433 CALIFORNIA STREET SUITE 815
SAN FRANCISCO,CA941042012 		N/A PC GENERAL SUPPORT 100,000

PANGEA LEGAL SERVICES
391 SUTTER ST SUITE 500
SAN FRANCISCO,CA94104 		N/A PC GENERAL SUPPORT 63,000

REDWOOD CITY ELEMENTARY
750 BRADFORD STREET
REDWOOD CITY,CA940631727 		N/A GOV REDWOOD CITY COMMUNITY SCHOOLS 150,000

SOCIAL GOOD FUND (IMMIGRANT DEFENSE ADVOCATES)
1215 39TH STREET
SACRAMENTO,CA95816 		N/A PC IMMIGRANT DEFENSE ADVOCATES 65,000
Total ................................. right arrow 3b 2,063,000
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 2,601,431  
4 Dividends and interest from securities ....     14 286,307  
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 2,900,712  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 5,788,450 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
5,788,450
(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 (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)
Yes
 
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
Yes
 
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
1b(6) 1,086,666 GROVE ACTION FUND GROVE ACTION FUND PROVIDES THE FOUNDATION PROFESSIONAL SERVICES, INCLUDING ACCOUNTING, INVESTMENT ADVICE, CONSULTING, INFORMATION TECHNOLOGY, OFFICE MANAGEMENT AND HUMAN RESOURCES, AT NO COST TO THE FOUNDATION.
1c 338,885 GROVE ACTION FUND GROVE ACTION FUND PROVIDES THE FOUNDATION ACCESS TO THE FUND'S OFFICE SPACE AND OFFICE EQUIPMENT AT NO COST TO THE FOUNDATION.
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
GROVE ACTION FUND 501(C)(4) COMMON DIRECTORS
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
THE GROVE FOUNDATION
 
Employer identification number

77-0108124
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
THE GROVE FOUNDATION
  		Employer identification number
77-0108124
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
ANDREW A GROVE AND EVA KASTEN GROVE
PO BOX 1667
 
LOS ALTOS, CA94023

$ 20,077,527


(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
THE GROVE FOUNDATION
  		Employer identification number

77-0108124
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
 679 SHARES A, 3,089 SHARES AAPL, 208 SHARES ADBE, 455 SHARES ADI, 325 SHARES AMP, 2,410 SHARES BALL, $ 7,328,538 2024-06-28
(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
THE GROVE FOUNDATION
  		Employer identification number

77-0108124
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:
THE GROVE FOUNDATION
EIN:
77-0108124
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 43,200 6,480   36,720

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

TY 2023 ExpenditureResponsibilityStmt
Name:
THE GROVE FOUNDATION
EIN:
77-0108124
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
ECOTRUST FOREST LLC
  		721 NW NINTH AVENUE SUITE 230
PORTLAND,OR97209 		2019-10-29 1,500,000 LOAN MADE AT BELOW-MARKET INTEREST RATE TO SUPPORT CONSERVATION-BASED FOREST MANAGEMENT STRATEGIES WITH A KEY AIM BEING TO MITIGATE CLIMATE CHANGE. 1,500,000 NONE 04/30/20, 05/10/21, 5/2/22, 4/18/23, 8/15/23, 2/20/24, 6/7/24, 7/22/24, 8/15    
MISSION DRIVEN FINANCE LLC
  		2245 SAN DIEGO AVENUE 121
SAN DIEGO,CA92110 		2020-07-31 150,000 LOAN MADE AT BELOW-MARKET INTEREST RATE TO PROVIDE RAPID AND CRITICAL FINANCING TO POST BONDS TO FREE IMMIGRANTS WHO ARE IN IMMIGRATION DETENTION. 150,000 NONE 02/12/2021,3/2/2022,5/31/2022,8/30/2022, 3/21/2023, 9/11/2023, 11/30/2023, 1    
CALIFORNIA REBUILDING FUND - G-SPV
  		1901 S BASCOM AVE SUITE 105
CAMPBELL,CA95008 		2020-12-15 500,000 THE CALIFORNIA REBUILDING FUND IS A PUBLIC-PRIVATE PARTNERSHIP THAT ADDRESSES CALIFORNIA'S SMALL BUSINESSES' CAPITAL AND ADVISORY NEEDS AS THEY NAVIGATE POST-COVID RECOVERY. THIS PROGRAM WAS BUILT TO SERVE THE SMALLEST OF SMALL BUSINESSES THAT MAKE UP AN ESSENTIAL PART OF THE CALIFORNIA ECONOMY AND HAS AND WILL CONTINUE TO FOCUS ON HISTORICALLY UNDER-RESOURCED COMMUNITIES AND LEVERAGES THE CAPABILITIES AND EXPERIENCE OF COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS ACROSS THE STATE. 500,000 NONE 07/16/2021, 9/30/2022, 9/30/23, 11/22/2023, 12/5/2023, 6/10/2024, 8/30/2024    
CALIFORNIA REBUILDING FUND - B-SPV
  		1901 S BASCOM AVE SUITE 105
CAMPBELL,CA95008 		2022-09-02 417,560 THE CALIFORNIA REBUILDING FUND IS A PUBLIC-PRIVATE PARTNERSHIP THAT ADDRESSES CALIFORNIA'S SMALL BUSINESSES' CAPITAL AND ADVISORY NEEDS AS THEY NAVIGATE POST-COVID RECOVERY. THIS PROGRAM WAS BUILT TO SERVE THE SMALLEST OF SMALL BUSINESSES THAT MAKE UP AN ESSENTIAL PART OF THE CALIFORNIA ECONOMY AND HAS AND WILL CONTINUE TO FOCUS ON HISTORICALLY UNDER-RESOURCED COMMUNITIES AND LEVERAGES THE CAPABILITIES AND EXPERIENCE OF COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS ACROSS THE STATE. 417,560 NONE 9/30/2023, 11/22/2023, 12/5/2023, 6/10/2024, 8/30/2024    
CALIFORNIA REBUILDING FUND - B-SPV
  		1901 S BASCOM AVE SUITE 105
CAMPBELL,CA95008 		2022-09-13 274,298 THE CALIFORNIA REBUILDING FUND IS A PUBLIC-PRIVATE PARTNERSHIP THAT ADDRESSES CALIFORNIA'S SMALL BUSINESSES' CAPITAL AND ADVISORY NEEDS AS THEY NAVIGATE POST-COVID RECOVERY. THIS PROGRAM WAS BUILT TO SERVE THE SMALLEST OF SMALL BUSINESSES THAT MAKE UP AN ESSENTIAL PART OF THE CALIFORNIA ECONOMY AND HAS AND WILL CONTINUE TO FOCUS ON HISTORICALLY UNDER-RESOURCED COMMUNITIES AND LEVERAGES THE CAPABILITIES AND EXPERIENCE OF COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS ACROSS THE STATE. 274,298 NONE 9/14/2023, 11/22/2023, 12/5/2023, 6/10/2024, 8/30/2024    
SOUTHERN OPPORTUNITY AND RESILIENCE (SOAR) FUND CLASS B
  		28 LIBERTY ST
NEW YORK,NY10005 		2021-05-24 78,462 THE SOUTHERN OPPORTUNITY AND RESILIENCE (SOAR) FUND WAS CREATED BY COMMUNITY LENDERS IN THE SOUTHERN AND SOUTHEASTERN UNITED STATES TO PROVIDE ECONOMIC RECOVERY LOANS AND FREE BUSINESS ASSISTANCE TO SMALL BUSINESSES AND NONPROFITS FACING UNPRECEDENTED HEALTH AND ECONOMIC CHALLENGES. THE LOANS ARE DESIGNED TO REACH BUSINESSES AND NONPROFITS WITH 50 OR FEWER FULL-TIME EQUIVALENT EMPLOYEES AND HISTORICALLY UNDERSERVED BUSINESSES, INCLUDING THOSE IN LOW-INCOME AND RURAL COMMUNITIES AND BUSINESSES OWNED BY WOMEN AND PEOPLE OF COLOR. THROUGH THIS RECOVERY, THESE ORGANIZATIONS ARE CRITICAL TO PROVIDING JOBS AND RESOURCES TO COMMUNITIES ACROSS THE REGION. 78,462 NONE 09/30/2021, 1/11/2022,6/30/23, 9/12/23, 12/14/23, 3/15/2024, 4/29/2024, 6/17    
SOUTHERN OPPORTUNITY AND RESILIENCE (SOAR) FUND CLASS B
  		28 LIBERTY ST
NEW YORK,NY10005 		2021-10-07 421,538 THE SOUTHERN OPPORTUNITY AND RESILIENCE (SOAR) FUND WAS CREATED BY COMMUNITY LENDERS IN THE SOUTHERN AND SOUTHEASTERN UNITED STATES TO PROVIDE ECONOMIC RECOVERY LOANS AND FREE BUSINESS ASSISTANCE TO SMALL BUSINESSES AND NONPROFITS FACING UNPRECEDENTED HEALTH AND ECONOMIC CHALLENGES. THE LOANS ARE DESIGNED TO REACH BUSINESSES AND NONPROFITS WITH 50 OR FEWER FULL-TIME EQUIVALENT EMPLOYEES AND HISTORICALLY UNDERSERVED BUSINESSES, INCLUDING THOSE IN LOW-INCOME AND RURAL COMMUNITIES AND BUSINESSES OWNED BY WOMEN AND PEOPLE OF COLOR. THROUGH THIS RECOVERY, THESE ORGANIZATIONS ARE CRITICAL TO PROVIDING JOBS AND RESOURCES TO COMMUNITIES ACROSS THE REGION. 421,538 NONE 1/11/2022, 6/30/23, 9/12/23, 12/14/23, 4/29/2024, 06/10/2024, 8/30/2024    
NAVAJO POWER
  		2700 WOODLANDS VILLAGE BLVD SUITE
300-380
FLAGSTAFF,AZ86001 		2021-09-30 750,000 FOUNDED IN 2018 AS A MAJORITY NATIVE-OWNED PUBLIC BENEFIT CORPORATION, NAVAJO POWER DEVELOPS UTILITY-SCALE CLEAN ENERGY PROJECTS. ITS PRIMARY FOCUS IN PROJECT DEVELOPMENT IS PRIORITIZING THE NEEDS OF THE TRIBAL COMMUNITIES WHERE IT WORKS, INCLUDING TAKING INTO ACCOUNT TRADITIONAL PRACTICES AND USES OF THE LAND WHEN SITING AND DESIGNING PROJECTS. NAVAJO POWER WORKS PROACTIVELY TO CREATE OPPORTUNITIES FOR TRIBAL MEMBERS TO PARTICIPATE IN THE PROJECT'S FINANCING, DEVELOPMENT, AND OPERATION, BENEFITING DIRECTLY FROM THE JOBS, REVENUE, AND ELECTRICITY THE PROJECTS CREATE. 750,000 NONE 08/13/21, 11/21/21, 3/8/22, 4/11/22, 5/20/22, 3/7/23, 12/13/23, 6/28/24, 9/3    
IRC'S CENTER FOR ECONOMIC OPPORTUNITY
  		PO BOX 152188
SAN DIEGO,CA92195 		2021-11-15 500,000 FORMED BY A PARTNERSHIP BETWEEN THE INTERNATIONAL RESCUE COMMITTEES CENTER FOR ECONOMIC OPPORTUNITY (IRC-CEO) AND THE REFUGEE INVESTMENT NETWORK (RIN), THE SOCIAL IMPACT FUND PROVIDES FINANCIAL ACCESS AND INCLUSION TO HUNDREDS OF IMMIGRANTS AND REFUGEES ACROSS THE UNITED STATES TO HELP NEW AMERICANS ESTABLISH A FINANCIAL FOOTHOLD. FUNDS WILL HELP BORROWERS SOURCE CREDIT-BUILDING, AUTO, EDUCATION, AND ACCESS ENTREPRENEURIAL CAPITAL TO START SMALL BUSINESSES 500,000 NONE 2/16/22, 3/23/22, 5/17/22, 5/23/23, 8/18/23, 1/5/24, 2/16/24, 8/16/24, 9/20/    
PEOPLE'S LAND CAPITAL (DIRT CAPITAL)
  		1428 FRANKLIN STREET
OAKLAND,CA94612 		2021-12-06 250,000 TO SUPPORT RANCHO CORRALITOS, LLC, WHICH WAS ORGANIZED TO ACQUIRE A 177-ACRE PARCEL OF ORGANIC FARMLAND IN WATSONVILLE, CALIFORNIA, AND TRANSITION OWNERSHIP OF THE PROPERTY OVER TIME TO A GROUP OF FIRST- AND SECOND-GENERATION IMMIGRANT LATINO IMMIGRANT ORGANIC FARMERS AT A REDUCED COST. THIS PROJECT REPRESENTS A UNIQUE OPPORTUNITY TO INCREASE EQUITABLE LAND ACCESS FOR LATINO FARMERS TO HIGH-QUALITY FARMLAND AND PROMOTE LONG-TERM LAND STABILITY IN THE CENTRAL COAST REGION OF CALIFORNIA. 250,000 NONE 6/9/2023, 12/13/2023, 6/18/2024, 12/13/2023, 6/28/2024, 9/30/2024    
INGENUITY POWER
  		213 S 24TH STREET
PHILADELPHIA,PA19103 		2022-07-14 250,000 THE WORKING POWER IMPACT FUND IS AN INVESTMENT VEHICLE DEDICATED SOLELY TO FOSTERING SCALED DEPLOYMENT OF COMMUNITY-BASED, CLEAN ECONOMY ASSETS THAT CENTER ECONOMIC EMPOWERMENT, LOCAL OWNERSHIP, AND DIRECT COMMUNITY BENEFITS WITHIN ALL ASPECTS OF CONSTRUCTION, OWNERSHIP, AND OPERATIONS. 250,000 NONE 8/15/23, 11/16/23, 2/16/24, 5/13/24, 12/13/2023, 6/28/2024, 9/30/2024    
WORKING POWER IMPACT FUND
  		213 S 24TH STREET
PHILADELPHIA,PA19103 		2022-07-14 500,000 THE WORKING POWER IMPACT FUND IS AN INVESTMENT VEHICLE DEDICATED SOLELY TO FOSTERING SCALED DEPLOYMENT OF COMMUNITY-BASED, CLEAN ECONOMY ASSETS THAT CENTER ECONOMIC EMPOWERMENT, LOCAL OWNERSHIP, AND DIRECT COMMUNITY BENEFITS WITHIN ALL ASPECTS OF CONSTRUCTION, OWNERSHIP, AND OPERATIONS. 500,000 NONE 8/15/23, 11/16/23, 2/16/24, 5/13/24, 12/13/2023, 6/28/2024, 9/30/2024    
NEXLEGACY
  		201 TAYLOR ST SUITE E
HUTTO,TX78634 		2023-01-09 750,000 NEXLEGACY IS A CONSTRUCTION COMPANY THAT PROVIDES SERVICES TO COMMUNITIES IN THE DEEP SOUTH IMPACTED BY NATURAL DISASTERS, SPECIALIZING IN RESIDENTIAL AND COMMERCIAL RECONSTRUCTION. MANY OF THE COMMUNITIES AFFECTED BY CLIMATE CHANGE IN THE US ARE PRIMARILY BLACK AND BROWN NEIGHBORHOODS, AND IT IS NEXLEGACY'S MISSION TO BRING THAT REPRESENTATION TO THE RECONSTRUCTION AND RECOVERY EFFORTS IN HISTORICALLY EXTRACTED AREAS. 750,000 NONE 12/13/2023, 6/18/2024, 12/13/2023, 6/28/2024, 9/30/2024    

TY 2023 InvestmentsCorpBondsSchedule
Name:
THE GROVE FOUNDATION
EIN:
77-0108124
Name of Bond End of Year Book Value End of Year Fair Market Value
ALEXANDRIA REAL ESTATE EQUITIES INC 67,282 67,282
ALPHABET INC 484,946 484,946
AMERICAN EXPRESS CO 150,356 150,356
AMERICAN HONDA FINANCE 158,388 158,388
AMERICAN TOWER CORP 58,822 58,822
AMGEN INC 148,751 148,751
ANHEUSER-BUSCH INBEV WORLDWIDE INC 139,681 139,681
AON CORP 144,304 144,304
APPLE INC 495,162 495,162
ASTRAZENECA FINANCE LLC 149,470 149,470
AT&T INC 155,631 155,631
BANK OF AMERICA CORP 213,234 213,234
BANK OF MONTREAL 243,528 243,528
BANK OF NOVA SCOTIA 232,140 232,140
BLACKROCK FUNDING INC 161,837 161,837
BRISTOL-MYERS SQUIBB CO 98,669 98,669
CANADIAN IMPERIAL BANK OF COMMERCE 162,466 162,466
CITIGROUP INC 659,229 659,229
CNH INDUSTRIAL CAPITAL LLC 81,105 81,105
COMCAST CORP 217,509 217,509
DTE ELECTRONIC CO 159,447 159,447
ELEVANCE HEALTH INC 164,719 164,719
EQUINIX INC 69,723 69,723
EUROPEAN INVESTMENT BANK 1,197,268 1,197,268
EVERSOURCE ENERGY 98,544 98,544
EXELON CORP 69,222 69,222
FIFTH THIRD BANCORP 152,290 152,290
GOLDMAN SACHS GROUP INC 164,289 164,289
HOME DEPOT INC 207,162 207,162
HOWARD UNIVERSITY 36,887 36,887
JPMORGAN CHASE & CO FXD 222,050 222,050
LOCAL INITIATIVES SUPPORT CORP 925,924 925,924
LOCKHEED MARTIN CORP 158,481 158,481
LOWE'S COS INC 154,992 154,992
MEDTRONIC GLOBAL HOLDINGS 161,554 161,554
MORGAN STANLEY 159,512 159,512
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 124,544 124,544
NEXTERA ENERGY CAPITAL HOLDINGS INC 119,198 119,198
PNC FINANCIAL SERVICES GROUP 660,067 660,067
SEMPRA ENERGY 146,317 146,317
SIMON PROPERTY GROUP LP 164,070 164,070
TRUIST FINANCIAL CORP 334,087 334,087
VERIZON COMMUNICATIONS INC 145,577 145,577
WASTE MANAGEMENT INC 160,778 160,778

TY 2023 InvestmentsGovtObligationsSch
Name:
THE GROVE FOUNDATION
EIN:
77-0108124
US Government Securities - End of Year Book Value:

15,428,124
US Government Securities - End of Year Fair Market Value:

15,428,124
State & Local Government Securities - End of Year Book Value:


12,915,391
State & Local Government Securities - End of Year Fair Market Value:


12,915,391


TY 2023 InvestmentsOtherSchedule2
Name:
THE GROVE FOUNDATION
EIN:
77-0108124
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
BOSTON COMMON INTERNATIONAL SUSTAINABLE CLIMATE FUND LLC FMV 1,056,593 1,056,593
LBA REALTY FUND I, INC. FMV 50,620 50,620
LBA REALTY FUND II, INC. FMV 55,613 55,613
LBA REALTY FUND IV, LP FMV 61,635 61,635
LEGACY VENTURE V (QP), LLC AT COST 699,882 907,651
LEGACY VENTURE VI (QP), LLC AT COST 607,836 3,267,344
MICROVEST FMV 748,106 748,106
MONTAGE CAPITAL II, L.P. AT COST 487,874 645,726
VENTURE LENDING AND LEASING VII, LLC AT COST 0 175,030

TY 2023 LegalFeesSchedule
Name:
THE GROVE FOUNDATION
EIN:
77-0108124
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 7,014 0   7,014


TY 2023 OtherAssetsSchedule
Name:
THE GROVE FOUNDATION
EIN:
77-0108124
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
BLOOMLIFE INC NOTE 250,000 362,537 362,537
ECOTRUST FOREST, LLC 1,200,000 1,350,000 1,350,000
HOUSING TRUST OF SILICON VALLEY NOTE 500,000 2,000,000 2,000,000
MISSION DRIVEN FINANCE, LLC 116,941 90,733 90,733
NAVAJO POWER LOAN 487,500 600,000 600,000
GENBIOPRO, INC. RECOVERABLE GRANT 162,298 100,752 100,752
RURAL COMMUNITY ASSISTANCE CORPORATION NOTE 450,000 0 0
POSIGEN 675,000 675,000 675,000
SOLAR HOLLER 112,500 112,500 112,500
CA REBUILDING FUND 741,267 536,838 536,838
SOAR CLASS A 346,470 62,831 62,831
SOAR CLASS B 225,000 0 0
COOPERATIVE ENERGY FUTURES CEF 292,500 315,000 315,000
GRID ALTERNATIVES 353,872 0 0
IRC'S CENTER FOR ECONOMIC OPPORTUNITY 425,000 450,000 450,000
DIRT CAPITAL 200,000 225,000 225,000
PIGEONLY 200,000 200,000 200,000
INGENUITY POWER LLC 175,000 175,000 175,000
WORKING POWER IMPACT FUND LLC 400,000 375,000 375,000
NEXLEGACY 562,500 487,500 487,500
MDF SUBORDINATION 320,000 280,595 280,595


TY 2023 OtherExpensesSchedule
Name:
THE GROVE FOUNDATION
EIN:
77-0108124
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MEMBERSHIP DUES 103,927 0   103,927
SUBSCRIPTIONS 4,391 0   4,391
WEB HOSTING 2,578 0   2,578
OTHER MISCELLANEOUS 3,722 0   3,722


TY 2023 OtherIncomeSchedule2
Name:
THE GROVE FOUNDATION
EIN:
77-0108124
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER PARTNERSHIP INCOME 0 48,704 0


TY 2023 OtherIncreasesSchedule
Name:
THE GROVE FOUNDATION
EIN:
77-0108124
Description Amount
UNREALIZED GAINS (LOSSES) ON INVESTMENTS 817,642


TY 2023 OtherProfessionalFeesSchedule
Name:
THE GROVE FOUNDATION
EIN:
77-0108124
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER PROFESSIONAL FEES 321,841 328,370   56,112


TY 2023 TaxesSchedule
Name:
THE GROVE FOUNDATION
EIN:
77-0108124
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAX 62,000 0   0