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
The Passport Foundation
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

26-1580196
B Telephone number (see instructions)

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

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$72,991,589J 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) 13,727,572
2 Check right arrow.............
3 Interest on savings and temporary cash investments 17,971 17,971  
4 Dividends and interest from securities...      
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,671,741
b Gross sales price for all assets on line 6a 13,942,951
7 Capital gain net income (from Part IV, line 2)... 14,250,633
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
305,222 292,718  
12 Total. Add lines 1 through 11........ 15,722,506 14,561,322  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages...... 106,970     106,970
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
11,776 5,560 0 6,216
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
38,150 0 0 38,150
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
168,195     168,195
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
74,857 157    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 11,715     11,715
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,527,412 1,391,519   126,329
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,939,075 1,397,236 0 457,575
25 Contributions, gifts, grants paid....... 2,611,913 2,611,913
26 Total expenses and disbursements. Add lines 24 and 25 4,550,988 1,397,236 0 3,069,488
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 11,171,518
b Net investment income (if negative, enter -0-) 13,164,086
c Adjusted net income (if negative, enter -0-)... 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......... 90,220 8,405,472 8,405,472
3 Accounts receivable right arrow5,274
Less: allowance for doubtful accounts right arrow   46,645 5,274 5,274
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)      
b Investments—corporate stock (attach schedule)....... 18,372 Click to see attachment
List of Attached Documents:
// Content
29,127 		132,895
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 51,323,749 Click to see attachment
List of Attached Documents:
// Content
54,210,631 		64,447,948
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) 51,478,986 62,650,504 72,991,589
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 51,478,986 62,650,504
29 Total net assets or fund balances (see instructions)..... 51,478,986 62,650,504
30 Total liabilities and net assets/fund balances (see instructions). 51,478,986 62,650,504
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
51,478,986
2
Enter amount from Part I, line 27a .....................
2
11,171,518
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
62,650,504
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
62,650,504
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 Publicly-traded Securities      
b Passthrough K1 Capital Gain/(Loss)      
c META STABLE EDGE OFF FD - DIST IN EXCESS OF BASIS P    
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 13,916,908   186,568 13,730,340
b       494,250
c 26,043   0 26,043
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       13,730,340
b        
c       26,043
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 14,250,633
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) 1 182,981
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 182,981
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 182,981
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 177,483
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 17,100
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 194,583
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 11,602
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow11,602 Refundedright arrow 11  
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$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowCA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 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 arrow  
14
The books are in care ofright arrowFoundation Source Telephone no.right arrow (800) 839-1754

Located atright arrow501 Silverside Road Suite 123WilmingtonDE ZIP+4right arrow198091377
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 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)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
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
 
No
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
 
 
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
 
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
Ani Arutyunyan Sec, Dir
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
John H Burbank III Dir, Pres
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Jim Cunningham Dir
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Joanne Poile Dir
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Michelle Ruggeri Treas
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
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
WILLIAM WALSH EXECUTIVE DIRECTOR
40.0 		106,970    
FOUNDATION SOURCE
WILMINGTON,DE198091377
Total number of other employees paid over $50,000...................right arrow  
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
Foundation Source Administrative 119,145
55 Walls Drive 3rd Fl
Fairfield,CT06824
Janet Maughan Philanthropic 82,500
833 Belmont Creek Rd
Lancaster,VA22503
Total number of others receiving over $50,000 for professional services.............right arrow  
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 arrow  
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
372,538
b
Average of monthly cash balances.......................
1b
1,491,306
c
Fair market value of all other assets (see instructions)................
1c
64,429,693
d
Total (add lines 1a, b, and c).........................
1d
66,293,537
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
66,293,537
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
994,403
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
65,299,134
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
3,264,957
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
3,264,957
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
182,981
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
10
c
Add lines 2a and 2b............................
2c
182,991
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
3,081,966
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
3,081,966
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
3,081,966
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
3,069,488
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
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
3,069,488
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 3,081,966
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 2,717,844
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022......  
e From 2023......  
f Total of lines 3a through e ........  
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 3,069,488
a Applied to 2023, but not more than line 2a 2,717,844
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2024 distributable amount..... 351,644
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024.    
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		2,730,322
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024.... 0
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).)
John H Burbank III
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

AMERICAN CIVIL LIBERTIES UNION FOUNDATION INC

125 BROAD ST 18TH FLOOR
NEW YORK,NY10004 		N/A PC Employee Matching 250

BAY AREA LEGAL AID

1735 TELEGRAPH AVE
OAKLAND,CA94612 		N/A PC Employee Matching 250

BENNINGTON COLLEGE CORPORATION

ONE COLLEGE DR
BENNINGTON,VT05201 		N/A PC General Operating for Beyond Plastics 75,000

BREAST CANCER PREVENTION PARTNERS

1388 SUTTER ST STE 901
SAN FRANCISCO,CA94109 		N/A PC Charitable Event 10,000

BREAST CANCER PREVENTION PARTNERS

1388 SUTTER ST STE 901
SAN FRANCISCO,CA94109 		N/A PC BCPP's Toxics Reduction Work 100,000

BUSINESS EXECUTIVES FOR NATIONAL SECURITY

1030 15TH ST NW 200 E
WASHINGTON,DC20005 		N/A PC General & Unrestricted 25,000

CENTER FOR INTERNATIONAL ENVIRONMENTAL LAW INC

1101 15TH ST NW 11TH FLOOR
WASHINGTON,DC20005 		N/A PC Plastics Treaty Negotiations 110,000

CENTER FOR INTERNATIONAL ENVIRONMENTAL LAW INC

1101 15TH ST NW 11TH FLOOR
WASHINGTON,DC20005 		N/A PC CIEL Global Plastics Treaty 50,000

CLEAN WATER FUND

1444 EYE ST NW SUITE 400
WASHINGTON,DC20005 		N/A PC Addressing PFAS contamination in California 60,000

COMING CLEAN INC

28 VERNON ST STE 434
BRATTLEBORO,VT05301 		N/A PC General & Unrestricted 125,000

CORNELL UNIVERSITY

PO BOX 752
ITHACA,NY14851 		N/A PC Employee Matching 250

CORNELL UNIVERSITY - CORNELL LAW SCHOOL

MYRON TAYLOR HALL
ITHACA,NY14853 		N/A PC Employee Matching 250

EARTHJUSTICE

PO BOX 194330
SAN FRANCISCO,CA94119 		N/A PC Protecting Against Toxic Chemical Exposures 300,000

EARTHJUSTICE

PO BOX 194330
SAN FRANCISCO,CA94119 		N/A PC Employee Matching 2,500

EDGEWOOD CENTER FOR CHILDREN AND FAMILIES

1801 VICENTE ST
SAN FRANCISCO,CA94116 		N/A PC Employee Matching 6,000

ENVIRONMENTAL HEALTH SCIENCES

612 W BEALL ST STE C
BOZEMAN,MT59715 		N/A PC Infertility Intervention Science Project 75,000

ENVIRONMENTAL PROTECTION NETWORK

2925 LEGATION ST NW
WASHINGTON,DC20015 		N/A PC Support for EPN's work to build the capacity of environmental agencies and the communities they serve to truly address the most urgent health and environmental crises, such as toxics, climate change, and environmental injustice. 110,000

ENVIRONMENTAL WORKING GROUP

1250 I ST NW STE 1000
WASHINGTON,DC20005 		N/A PC EWG Food Chemicals Campaign 125,000

EQUAL JUSTICE INITIATIVE

122 COMMERCE ST
MONTGOMERY,AL36104 		N/A PC Employee Matching 515

EXPERIENCE CAMPS

136 MAIN ST STE 206
WESTPORT,CT06880 		N/A PC Employee Matching 1,050

FRIENDS OF JACKSON PARK

368 CONNECTICUT ST
SAN FRANCISCO,CA94107 		N/A PC General & Unrestricted 1,000

FRIENDS OF THE URBAN FOREST

1007 GENERAL KENNEDY AVE STE 1
SAN FRANCISCO,CA94129 		N/A PC General & Unrestricted 250

GOLDEN STATE COMMUNITY FOUNDATION

1 WARRIORS WAY
SAN FRANCISCO,CA94158 		N/A PC General & Unrestricted 10,000

INNOCENCE PROJECT INC

40 WORTH ST RM 701
NEW YORK,NY10013 		N/A PC Employee Matching 270

INTERNATIONAL POLLUTANTS ELIMINATION NETWORK

BOX 7256
GOTHENBURG   40235
SW 		N/A NC Expenditure Responsibility Grant 125,000

INTERNATIONELLA KEMIKALIESEKRETARIATET

FORSTA LANGGATAN 18
GOTEBORG   41328
SW 		N/A PC General & Unrestricted 75,000

NATURAL RESOURCES DEFENSE COUNCIL INC

40 WEST 20TH ST 11TH FLOOR
NEW YORK,NY10011 		N/A PC NRDC Toxics Initiative Support 300,000

PAN-MASSACHUSETTS CHALLENGE INC

77 4TH AVE
NEEDHAM,MA02494 		N/A PC General & Unrestricted 6,000

PATH MINISTRIES INTERNATIONAL

PO BOX 4010
SEAL BEACH,CA90740 		N/A PC Employee Matching 5,000

PLANNED PARENTHOOD FEDERATION OF AMERICA INC

PO BOX 97166
WASHINGTON,DC20090 		N/A PC Employee Matching 1,033

PUBLIC HEALTH WATCH INC

52 WHITE MAGNOLIA CIR
AUSTIN,TX78734 		N/A PC FencelineData.org Phase 2 40,000

ROSE FOUNDATION FOR COMMUNITIES AND THE ENVIRONMEN

201 4TH ST STE 102
OAKLAND,CA94607 		N/A PC Clearya 100,000

SAN FRANCISCO AIDS FOUNDATION

940 HOWARD ST
SAN FRANCISCO,CA94103 		N/A PC Employee Matching 260

SAN FRANCISCO DAY SCHOOL

350 MASONIC AVE
SAN FRANCISCO,CA94118 		N/A PC Employee Matching 776

SOCIAL AND ENVIRONMENTAL ENTREPRENEURS

23564 CALABASAS RD
CALABASAS,CA91302 		N/A PC Californians for Pesticide Reform 80,000

SUPPORT FOR FAMILIES OF CHILDREN WITH DISABILITIES

832 FOLSOM ST STE 1001
SAN FRANCISCO,CA94107 		N/A PC Employee Matching 259

THE ARC OF THE UNITED STATES

2000 PENNSYLVANIA AVE NW STE 500
WASHINGTON,DC20006 		N/A PC General & Unrestricted 75,000

THE COMMUNITY FOUNDATION INC

3409 MOORE ST
RICHMOND,VA23230 		N/A PC Employee Matching 1,000

TOXIC-FREE FUTURE

4649 SUNNYSIDE AVE N STE 540
SEATTLE,WA98103 		N/A PC Mind the Store 125,000

TOXIC-FREE FUTURE

4649 SUNNYSIDE AVE N STE 540
SEATTLE,WA98103 		N/A PC General & Unrestricted 175,000

UNIVERSITY OF CALIFORNIA SAN FRANCISCO

PO BOX 45339
SAN FRANCISCO,CA94145 		N/A PC Defending Science and Promoting Evidence-Based Decision-Making to Protect Health from Toxic Environmental Chemicals 200,000

UNTIL JUSTICE DATA PARTNERS INC

8504 AMBROSSE LN UNIT 103
LOUISVILLE,KY40299 		N/A PC FencelineData.Org Phase 2 40,000

VIRGINIA ORGANIZING INC

703 CONCORD AVE
CHARLOTTESVILLE,VA22903 		N/A PC Healthy Babies Bright Futures 50,000

ZOUVES FOUNDATION FOR REPRODUCTIVE MEDICINE

1241 E HILLSDALE BLVD STE 100
FOSTER CITY,CA94404 		N/A PC Research To Increase Success of IVF Treatment 25,000
Total .................................right arrow 3a 2,611,913
bApproved for future payment
Total ................................. right arrow 3b  
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 ........... 		    14 17,971  
4 Dividends and interest from securities ....          
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		525990 781 18 1,670,960  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aK-1 Inc/Loss 		525990 12,504 14 269,386  
bLOSS ON DISTRIBUTION RECEIVABLE     14 -34  
cINTEREST FROM PARTNERSHIPS     14 23,366  
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 13,285 1,981,649  
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,994,934
(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
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 Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
The Passport Foundation
 
Employer identification number

26-1580196
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
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
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
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) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
The Passport Foundation
  		Employer identification number
26-1580196
Part I
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
Burbank III John H
122 W Dilido Dr
 
Miami, FL33139

$ 1,011,451


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
Kim Julie
1 Letterman Drive Building A Suite
 
San Francisco, CA94129

$ 25,225


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
3
Ventures LLC Nimble
122 W Dilido Dr
 
Miami, CA33139

$ 12,690,896


(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) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
The Passport Foundation
  		Employer identification number

26-1580196
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
2
 APPLOVIN CORP APP, 74 sh. $ 25,225 2024-12-23
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
3
 APPLOVIN CORP APP, 18723 sh. $ 807,824 2024-01-22
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
3
 APPLOVIN CORP APP, 25000 sh. $ 1,521,375 2024-03-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
3
 APPLOVIN CORP APP, 11417 sh. $ 965,707 2024-05-09
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
3
 APPLOVIN CORP APP, 9300 sh. $ 786,641 2024-05-09
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
3
 STILLFRONT GROUP AB STLFF, 3558 sh. $ 2,953 2024-07-24
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
The Passport Foundation
  		Employer identification number

26-1580196
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
3
 WONDERFI TECHNOLOGIES INC WONDF, 92822 sh. $ 10,554 2024-08-16
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
3
 COUPANG ORD SHS CL A CPNG, 30049 sh. $ 689,474 2024-09-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
3
 Nerdy Inc NRDY, 42768 sh. $ 38,686 2024-09-11
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
3
 APPLOVIN CORP APP, 29351 sh. $ 7,867,682 2024-11-08
(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) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
The Passport Foundation
  		Employer identification number

26-1580196
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.) $  
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) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
The Passport Foundation
EIN:
26-1580196
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Audit Fees 38,150     38,150

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TY 2024 DepreciationSchedule
Name:
The Passport Foundation
EIN:
26-1580196
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

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TY 2024 ExpenditureResponsibilityStmt
Name:
The Passport Foundation
EIN:
26-1580196
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
INTERNATIONAL POLLUTANTS ELIMINATION NET
  		BOX 7256
GOTHENBURG   40235
SW 		2022-07-02 100,000 SUPPORT LEVERAGING THE TREATY PROCESS TO ADVANCE ENVIRONMENTAL HEALTH GOALS 100,000 NO 03/28/2023, 05/20/2024   NONE NECESSARY
INTERNATIONAL POLLUTANTS ELIMINATION NET
  		BOX 7256
GOTHENBURG   40235
SW 		2023-10-03 100,000 SUPPORT LEVERAGING THE TREATY PROCESS TO ADVANCE ENVIRONMENTAL HEALTH GOALS 100,000 NO 05/20/2024, 04/03/2025   none necessary
INTERNATIONAL POLLUTANTS ELIMINATION NET
  		BOX 7256
GOTHENBURG   40235
SW 		2024-10-25 125,000 Elevating awareness and controls on plastics and petrochemicals to protect human health 51,890 NO 04/03/2025   none necessary

TY 2024 GeneralExplanationAttachment
Name:
The Passport Foundation
EIN:
26-1580196
Identifier Return Reference Explanation
FORM 990-PF, PART I, LN 6A FORM 990-PF, PART I, LN 6A TOTAL INCLUDED IN PART IV: (DETAILS BELOW) NET GAIN/(LOSS): $1,670,959 TOTAL NOT INCLUDED IN PART IV: PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - UBI NET GAIN/(LOSS): $782 TOTAL PART I, LINE 6A: $1,671,741 DETAILS OF ASSETS INCLUDED IN PART IV: PUBLICLY-TRADED SECURITIES GROSS SALES PRICE: $13,916,908 BOOK BASIS: $12,766,242 NET GAIN/(LOSS): $1,150,666 PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - NON UBI NET GAIN/(LOSS): $494,250 SALES OF OTHER ITEMIZED ASSETS GROSS SALES PRICE: $26,043 BOOK BASIS: $- NET GAIN/(LOSS): $26,043

TY 2024 InvestmentsCorpStockSchedule
Name:
The Passport Foundation
EIN:
26-1580196
Name of Stock End of Year Book Value End of Year Fair Market Value
APPLOVIN CORP 25,224 23,963
OKLO INC CLASS A 3,903 108,932

TY 2024 InvestmentsOtherSchedule2
Name:
The Passport Foundation
EIN:
26-1580196
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
1KX LP   154,822 551,021
AAF II - YASI VENTURES, L.P   206,455 243,392
ALIGNMENT GROWTH FUND I, LP   515,650 456,383
BIG LEAGUE ADVANCE FUND II, LP   332,906 672,913
BOOST VC ACCELERATOR 3, L.P   420,088 353,807
BUCKLEY VENTURES III, LP   388,318 294,937
BULLPEN CAPITAL IV, L.P   392,569 820,406
CH VENTURES I, L.P   184,069 212,821
CH VENTURES II, L.P   192,480 310,640
CHANGE.ORG GROWTH LLC   7,149  
CIVILIZATION VENTURES II, L.P.   155,582 118,388
CLOCKTOWER CLIMATE AND SUSTAIN   87,980 70,422
CLOCKTOWER LATIN AMERICAN TECH   173,187 187,523
COURTSIDE VENTURES II, L.P   325,008 878,006
COURTSIDE VENTURES III, L.P   686,323 626,224
CRE VENTURE CAPITAL FUND II, L   420,747 1,490,362
CV 2-KREATE, L.P   221,158 283,541
DISTRIBUTED GLOBAL OFFSHORE FU   29,372 45,834
ELECTRIC CAPITAL PARTNERS FRON     13,456
FMZ VENTURES FUND I, L.P   441,820 353,001
FMZ VENTURES NEW FUND, LP   39,639 35,400
FORMATION8 PARTNERS ENTREPRENE   180,635 634,397
FYRFLY VENTURE PARTNERS FUND I   175,476 326,313
GK VENTURES, LP   96,097 55,131
GLOBAL VENTURES L.P   120,262 198,950
GOVTECH FUND I, L.P   1,160,025 1,366,128
GOVTECH FUND II, L.P   698,505 903,971
HAVENCREST HEALTHCARE PARTNERS   168,357 124,451
HAVENCREST HEALTHCARE PARTNERS   436,976 654,722
HCM V, L.P   796,632 701,342
HEROIC VENTURES, L.P   102,539 841,452
HUAXING CAPITAL PARTNERS II, L   140,282 117,203
HUAXING CAPITAL PARTNERS, LP   281,383 226,450
INNOVATION WORKS DEVELOPMENT F   185,476 71,405
KONVOY VENTURES III LP   173,608 150,555
LEARNSTART I, L.P   174,978 237,091
LEARNSTART II, L.P.   305,002 245,842
LEGACY CAPITAL, LP   905,795 1,203,872
LEGACY HARMONY LTD   656,713 1,161,564
LEVEL EQUITY GROWTH PARTNERS I   513,096 958,967
LJ VENTURES FUND II, L.P   841,352 1,032,139
LJV FUND III, L.P   359,014 475,901
LJV OPPORTUNITY FUND I, L.P   393,773 335,976
MADIBA 6-2 LLC   1,024,804 393,137
MAVEN VENTURES FUND II, L.P   257,810 888,647
MAVEN VENTURES FUND III, L.P   125,882 110,284
MERON II, L.P   254,877 342,759
META STABLE EDGE OFFSHORE FUND     73,342
MITHRIL II LP   846,540 695,711
MORTAR & MASH ONE, LLC   34,461 11,055
MOSAIC GENERAL FUND I, LP (FKA   253,596 235,543
NEW FORM CAPITAL I, L.P.   1,390,212 2,537,191
NEW NORTH VENTURES FUND I, L.P   370,116 236,231
NEXT COAST VENTURES III, L.P   214,000 147,800
NIMBLE PARTNERS FUND I, LP   21,999,695 26,740,818
NIMBLE PARTNERS FUND II, LP   7,342,442 5,697,122
QUIET GROWTH I, L.P   286,054 321,070
REGENERATION.VC FUND 1, LP   155,659 143,664
ROCANA VENTURE PTNRS II (US) L   158,069 557,194
ROGUE CAPITAL PARTNERS, L.P   266,454 293,948
RTW OFFSHORE FUND ONE LTD     45,239
SALT FUND I, L.P.   209,774 201,019
SILVER LAKE WATERMAN FUND, L.P   24,841 81,225
SKY9 CAPITAL FUND III, L.P   650,604 485,087
SKY9 CAPITAL FUND IV, L.P   212,931 230,232
SKY9 CAPITAL MVP FUND, L.P   471,545 320,393
SYBIL CAPITAL FUND I-B FEEDER   900,000 771,248
TANDEM FUND II, LP   244,952 979,549
TFG HOLDING, INC   137,659 191,705
THE CXO FUND, LLC   218,296 317,230
UNIKOINGOLD   303,858 652
VOLTA ENERGY STORAGE FUND I L.   355,975 209,710
WILL VENTURES FUND I, L.P   344,383 377,877
WILL VENTURES FUND II, LP   183,180 150,336
WTI FUND X LLC   730,664 618,631

TY 2024 LegalFeesSchedule
Name:
The Passport Foundation
EIN:
26-1580196
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Document Review/Drafting 2,608     2,608
General Consultations 9,168 5,560   3,608


TY 2024 OtherExpensesSchedule
Name:
The Passport Foundation
EIN:
26-1580196
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Administrative Fees 119,145     119,145
Bank Charges 1 1    
Foundation Dues & Memberships 6,250     6,250
K-1 Exp 1KX LP 25,324 25,324    
K-1 Exp AAF II - YASI VENTURES 7,429 7,429    
K-1 Exp ALIGNMENT GROWTH FUND 23,948 23,948    
K-1 Exp BIG LEAGUE ADVANCE FUN 1,524 1,524    
K-1 Exp BOOST VC ACCELERATOR 3 12,454 12,454    
K-1 EXP BUCKLEY VENTURES III 12,221 12,221    
K-1 EXP BULLPEN CAPITAL IV 12,393 12,393    
K-1 EXP CH VENTURES I, L.P 2,430 2,430    
K-1 Exp CH VENTURES II, L.P 16,284 16,284    
K-1 Exp CIVILIZATION VENTURES 6,915 6,915    
K-1 Exp CLOCKTOWER CLIMATE AND 8,514 8,511    
K-1 Exp CLOCKTOWER LATIN AMERI 6,704 6,704    
K-1 EXP COURTSIDE VENTURES II 10,574 10,574    
K-1 Exp COURTSIDE VENTURES III 28,619 28,619    
K-1 Exp CRE VENTURE CAPITAL FU 12,836 12,836    
K-1 EXP CV 2-KREATE, L.P 5,326 5,326    
K-1 EXP FMZ VENTURES FUND I 11,218 11,218    
K-1 EXP FMZ VENTURES NEW FUND 11,530 11,513    
K-1 Exp FORMATION8 PARTNERS EN 791 791    
K-1 Exp FYRFLY VENTURE PARTNER 11,234 11,234    
K-1 Exp GK VENTURES, LP 9,022 9,022    
K-1 Exp GLOBAL VENTURES L.P 3,717 3,717    
K-1 Exp GOVTECH FUND I, L.P 17,873 17,873    
K-1 Exp GOVTECH FUND II, L.P 16,954 16,954    
K-1 EXP HAVENCREST HLTHCRE II 10,254 10,246    
K-1 Exp HAVENCREST HEALTHCARE 8,288 7,498    
K-1 Exp HCM V, L.P 25,790 25,790    
K-1 Exp HEROIC VENTURES, L.P 1,026 1,026    
K-1 EXP HUAXING CAP PTRS II 2,886 2,886    
K-1 EXP HUAXING CAPITAL PTRS 5,977 5,977    
K-1 Exp INNOVATION WORKS DEVEL 6,397 6,397    
K-1 Exp KONVOY VENTURES III LP 10,520 10,520    
K-1 Exp LEARNSTART I, L.P 6,488      
K-1 Exp LEARNSTART II, L.P. 14,200 14,200    
K-1 Exp LEGACY CAPITAL, LP 52,401 52,401    
K-1 Exp LEVEL EQUITY GROWTH PA 16,001 15,658    
K-1 EXP LJ VENTURES FUND II 23,454 23,454    
K-1 Exp LJV FUND III, L.P 14,309 14,309    
K-1 Exp LJV OPPORTUNITY FUND I 8,494 8,494    
K-1 Exp MADIBA 6-2 LLC 2,940 2,940    
K-1 Exp MAVEN VENTURES FUND II 8,525 8,525    
K-1 EXP MAVEN VENTURES FD III 6,693 6,693    
K-1 EXP MERON II, L.P 12,397 12,397    
K-1 Exp MITHRIL II LP 12,291 12,291    
K-1 Exp MORTAR & MASH ONE, LLC 34      
K-1 EXP MOSAIC GENERAL FUND I 12,818 12,818    
K-1 EXP NEW FORM CAPITAL I 41,191 41,191    
K-1 Exp NEW NORTH VENTURES FUN 19,944 19,944    
K-1 Exp NEXT COAST VENTURES II 9,695 9,695    
K-1 EXP NIMBLE PRTRS FUND I 545,147 543,352    
K-1 EXP NIMBLE PRTRS FUND II 119,693 119,656    
K-1 Exp QUIET GROWTH I, L.P 9,671 9,671    
K-1 Exp REGENERATION.VC FUND 1 5,491 5,491    
K-1 Exp ROCANA VENTURE PTNRS I 7,301 7,299    
K-1 Exp ROGUE CAPITAL PARTNERS 15,305 15,305    
K-1 Exp SALT FUND I, L.P. 7,650 7,650    
K-1 Exp SILVER LAKE WATERMAN F 7 7    
K-1 Exp SKY9 CAPITAL FUND III, 22,456 22,456    
K-1 Exp SKY9 CAPITAL FUND IV, 6,449 6,449    
K-1 Exp SKY9 CAPITAL MVP FUND, 5,568 5,568    
K-1 Exp TANDEM FUND II, LP 882 882    
K-1 Exp THE CXO FUND, LLC 2,847 2,847    
K-1 Exp VOLTA ENERGY STORAGE F 11,167 11,167    
K-1 Exp WILL VENTURES FUND I, 12,337 12,320    
K-1 Exp WILL VENTURES FUND II, 12,290 12,260    
K-1 Exp WTI FUND X LLC 7,974 7,974    
Social Media/Advertising Expen 534     534
State or Local Filing Fees 400     400


TY 2024 OtherIncomeSchedule2
Name:
The Passport Foundation
EIN:
26-1580196
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
K-1 Inc/Loss 1KX LP 24,661 24,678  
K-1 Inc/Loss AAF II - YASI VENTURES, L.P 181 181  
K-1 Inc/Loss ALIGNMENT GROWTH FUND I, LP 2,911 2,911  
K-1 Inc/Loss BIG LEAGUE ADVANCE FUND II, LP 19,439 19,439  
K-1 Inc/Loss BOOST VC ACCELERATOR 3, L.P 195 195  
K-1 Inc/Loss BUCKLEY VENTURES III, LP 388 388  
K-1 Inc/Loss CH VENTURES II, L.P 39 39  
K-1 Inc/Loss CIVILIZATION VENTURES II, L.P. 351 351  
K-1 Inc/Loss CLOCKTOWER CLIMATE AND SUSTAINABILIT 126 126  
K-1 Inc/Loss CLOCKTOWER LATIN AMERICAN TECHNOLOGI 92 92  
K-1 Inc/Loss COURTSIDE VENTURES II, L.P 137 137  
K-1 Inc/Loss COURTSIDE VENTURES III, L.P 2,517 2,517  
K-1 Inc/Loss CRE VENTURE CAPITAL FUND II, L.P 1,431 1,431  
K-1 Inc/Loss CV 2-KREATE, L.P 2,107 2,107  
K-1 Inc/Loss FMZ VENTURES FUND I, L.P 219 219  
K-1 Inc/Loss FMZ VENTURES NEW FUND, LP 1,169 1,169  
K-1 Inc/Loss FORMATION8 PARTNERS ENTREPRENEURS FU 301 301  
K-1 Inc/Loss GK VENTURES, LP 1,064 1,064  
K-1 Inc/Loss GOVTECH FUND I, L.P 120 120  
K-1 Inc/Loss GOVTECH FUND II, L.P 5,104 5,104  
K-1 Inc/Loss HAVENCREST HEALTHCARE PARTNERS II, L 3,411 5,407  
K-1 Inc/Loss HAVENCREST HEALTHCARE PARTNERS, LP 21,192 3,313  
K-1 Inc/Loss HCM V, L.P 1,707 1,707  
K-1 Inc/Loss HEROIC VENTURES, L.P 1,789 1,789  
K-1 Inc/Loss HUAXING CAPITAL PARTNERS II, LP 1,300 1,300  
K-1 Inc/Loss HUAXING CAPITAL PARTNERS, LP 4,384 4,384  
K-1 Inc/Loss INNOVATION WORKS DEVELOPMENT FUND, L 2,411 2,411  
K-1 Inc/Loss LEARNSTART I, L.P 1 1  
K-1 Inc/Loss LEARNSTART II, L.P. 290 290  
K-1 Inc/Loss LEGACY CAPITAL, LP 11,339 11,339  
K-1 Inc/Loss LEVEL EQUITY GROWTH PARTNERS I, LP -5,853 777  
K-1 Inc/Loss LJ VENTURES FUND II, L.P 48 48  
K-1 Inc/Loss LJV FUND III, L.P 186 186  
K-1 Inc/Loss LJV OPPORTUNITY FUND I, L.P 2,993 2,993  
K-1 Inc/Loss MAVEN VENTURES FUND II, L.P 508 508  
K-1 Inc/Loss MAVEN VENTURES FUND III, L.P 303 303  
K-1 Inc/Loss MERON II, L.P 6 6  
K-1 Inc/Loss MITHRIL II LP 755 755  
K-1 Inc/Loss MORTAR & MASH ONE, LLC 3,394 1,241  
K-1 Inc/Loss MOSAIC GENERAL FUND I, LP (FKA MASTR 667 667  
K-1 Inc/Loss NEW FORM CAPITAL I, L.P. 32,475 32,475  
K-1 Inc/Loss NEXT COAST VENTURES III, L.P 1,945 1,945  
K-1 Inc/Loss NIMBLE PARTNERS FUND I, LP 30,553 29,438  
K-1 Inc/Loss NIMBLE PARTNERS FUND II, LP 21,905 21,905  
K-1 Inc/Loss QUIET GROWTH I, L.P 29 29  
K-1 Inc/Loss REGENERATION.VC FUND 1, LP 1,256 1,256  
K-1 Inc/Loss ROCANA VENTURE PTNRS II (US) LP -1,356 -1,356  
K-1 Inc/Loss ROGUE CAPITAL PARTNERS, L.P 59 59  
K-1 Inc/Loss SALT FUND I, L.P. 130 130  
K-1 Inc/Loss SILVER LAKE WATERMAN FUND, L.P -1,327 -1,327  
K-1 Inc/Loss SKY9 CAPITAL FUND III, L.P 2,124 2,124  
K-1 Inc/Loss SKY9 CAPITAL FUND IV, L.P 221 221  
K-1 Inc/Loss SKY9 CAPITAL MVP FUND, L.P 538 538  
K-1 Inc/Loss THE CXO FUND, LLC 3,520 3,520  
K-1 Inc/Loss VOLTA ENERGY STORAGE FUND I L.P. 3,225 3,225  
K-1 Inc/Loss WILL VENTURES FUND I, L.P 824 824  
K-1 Inc/Loss WTI FUND X LLC 72,386 72,386  
LOSS ON DISTRIBUTION RECEIVABLE -34 -34  
INTEREST FROM PARTNERSHIPS 23,366 23,366  


TY 2024 OtherProfessionalFeesSchedule
Name:
The Passport Foundation
EIN:
26-1580196
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Employee Recruiting/Temp Agenc 42,800     42,800
Philanthropic Consulting Srvcs 82,750     82,750
IT AND OTHER SERVICES 42,645     42,645


TY 2024 TaxesSchedule
Name:
The Passport Foundation
EIN:
26-1580196
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
990-PF Estimated Tax for 2024 74,600      
990-T Extension for 2023 100      
Foreign Tax Paid 157 157