Civic Intelligence

Jasper Ridge Charitable Fund

990 • Fiscal year 2018 • EIN 47-2088631

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 13, 2019

201 MAIN STREET Suite 1000Fort Worth, TX 76102-3109

(817) 333-0016

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

5th percentile

0.01x

Higher debt load relative to assets than 5% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

4th percentile

0.03x

Higher debt load relative to revenue than 4% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Net Margin

99th percentile

99%

Higher net margin than 99% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

2nd percentile

$0

Higher top officer pay than 2% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Asset Growth

87th percentile

16%

Faster asset growth than 87% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

3rd percentile

-50%

Faster revenue growth than 3% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Assets

Up

$794,215,146

Up $109,702,124 (+16%) from 2017

Net Assets

Up

$787,843,074

Up $173,044,965 (+28%) from 2017

Liabilities

Down

$6,372,072

Down $63,342,841 (-91%) from 2017

Revenue

Down

$220,420,291

Down $223,179,298 (-50%) from 2017

Expenses

Down

$1,842,372

Down $3,389,854 (-65%) from 2017

Net Income

Down

$218,577,919

Down $219,789,444 (-50%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5B$1.0B$500M$0-$500MAssets 2015: $47,544Liabilities 2015: $48,783Net Assets 2015: -$1,2392015Assets 2016: $124,093,839Liabilities 2016: $2,800,902Net Assets 2016: $121,292,9372016Assets 2017: $684,513,022Liabilities 2017: $69,714,913Net Assets 2017: $614,798,1092017Assets 2018: $794,215,146Liabilities 2018: $6,372,072Net Assets 2018: $787,843,0742018Assets 2019: $921,998,756Liabilities 2019: $1,439,841Net Assets 2019: $920,558,9152019Assets 2020: $1,059,804,391Liabilities 2020: $1,846,109Net Assets 2020: $1,057,958,2822020Assets 2021: $1,428,861,718Liabilities 2021: $560,038Net Assets 2021: $1,428,301,6802021Assets 2022: $4,335,338Liabilities 2022: $4,335,338Net Assets 2022: $02022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2018

Assets$794,215,146
Liabilities$6,372,072
Net Assets$787,843,074

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0B$1.0B$0-$1.0B-$2.0BRevenue 2015: $250,000Expenses 2015: $251,239Net Income 2015: -$1,2392015Revenue 2016: $114,519,288Expenses 2016: $429,869Net Income 2016: $114,089,4192016Revenue 2017: $443,599,589Expenses 2017: $5,232,226Net Income 2017: $438,367,3632017Revenue 2018: $220,420,291Expenses 2018: $1,842,372Net Income 2018: $218,577,9192018Revenue 2019: $23,627,370Expenses 2019: $26,459,005Net Income 2019: -$2,831,6352019Revenue 2020: $51,342,189Expenses 2020: $76,960,112Net Income 2020: -$25,617,9232020Revenue 2021: $213,964,124Expenses 2021: $45,750,039Net Income 2021: $168,214,0852021Revenue 2022: $63,705,519Expenses 2022: $1,324,350,743Net Income 2022: -$1,260,645,2242022Revenue 2023: $85,870Expenses 2023: $85,870Net Income 2023: $02023

Highlighted filing

2018

Revenue$220,420,291
Expenses$1,842,372
Net Income$218,577,919
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.1
Gross Receipts
$369,863,236
Mission and Program Overview

Mission

Expanding philanthropic impact of donors by supporting and simplifying charitable giving and by promoting awareness of opportunities to improve social welfare through charitable grants and impact investments.

See schedule o general statement 1

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$614,037,887$780,493,683▲ $166,455,796
Investments in Publicly Traded Securities$128,461$12,131,441▲ $12,002,980
Cash and Non-Interest-Bearing Accounts$29,357,472$1,580,945▼ $27,776,527
Accounts Receivable$40,989,202$9,077▼ $40,980,125
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$684,513,022$794,215,146▲ $109,702,124
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$69,714,913$6,372,072▼ $63,342,841
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$69,714,913$6,372,072▼ $63,342,841
Net Assets / Fund Balance
Unrestricted Net Assets$614,798,109$787,843,074▲ $173,044,965
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$614,798,109$787,843,074▲ $173,044,965
Total Liabilities and Net Assets / Fund Balance$684,513,022$794,215,146▲ $109,702,124

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$500,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mark a WolfsonDirector, President
George D PhippsDirector, Vice President
B Howard PearsonDirector
Deborah L HarmonDirector
James M PatellDirector
Paul BrestDirector
Russell B HallDirector
Pamela PavkovDirector of Grants
Nick TandonAdministrative Officer
Rajesh SwaminathanChief Legal Officer
Adan AraujoCompliance Officer
Shannon Kline - as of 91818Donor-advisor Admin Officer
John H FantSecretary
Jack a MuhlbeierTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Jasper Ridge Services LLCLegal/Accounting/Tax201 Main Street Suite 1000, Fort Worth, TX 76102$145,331
Revenue and Support

Revenue Composition

Contributions and Grants
$182,850,500
Program Service Revenue
$0
Investment Income
$37,569,791
Other Revenue
$0
All Other Contributions
$182,850,500
Change in Net Assets
$218,577,919

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded4$153,934,778Fair Market Value (FMV)
Secur Prtnrshp Trust Intrsts1$14,997,314Fair Market Value (FMV)
Total Noncash Contributions5$168,932,092-

Audited Revenue Reconciliation

Revenue per Audited Statements
$194,894,945
Revenue Not Reported on Financial Statements
$25,525,346
Revenue Not Reported on Form 990
$-20,007,608
Other Revenue Adjustments
$25,525,346
Total Revenue per Audited Statements
$174,887,337
Total Revenue per Form 990
$220,420,291
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,611,537
Other Expenses$230,835
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,611,537--$1,611,537
Fees for Services Accounting-$99,960-$99,960
Fees for Services Legal-$68,997-$68,997
Insurance-$29,734-$29,734
Fees for Service Investment Mgmnt Fees-$11,264-$11,264
Office Expenses-$10,889-$10,889
Other Expenses-$2,145-$2,145
Conferences and Meetings-$1,378-$1,378
Total Functional Expenses$1,611,537$230,835$0$1,842,372

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,842,372
Total Expenses per Audited Statements$1,842,372
Total Expenses per Form 990$1,842,372
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fidelity Investments Charitable Gift FundBoston, MA501(c)(3)General Support$749,158
Village Enterprise Fund IncSan Carlos, CA501(c)(3)GENERAL SUPPORT General Support$50,000
Lucile Packard FDN for Children's HealthPalo Alto, CA501(c)(3)General Support General Support$20,000
Planned Parenthood Fed of America IncNew York, NY501(c)(3)GENERAL SUPPORT General Support$11,000
ImpactMatters IncNew York, NY501(c)(3)General Support General Support$10,000
NAACP Legal Defense And Educ Fund IncNew York, NY501(c)(3)General Support General Support$9,000
Creative Commons CorporationMountain View, CA501(c)(3)General Support General Support$8,000
Guardian GroupBend, OR501(c)(3)General Support General Support$8,000
The Bot of the Leland Stanford Junior UnivRedwood City, CA501(c)(3)General Support General Support$8,000
Behavioral Ideas Lab IncNew York, NY501(c)(3)General Support General Support$7,000
Noora HealthSan Francisco, CA501(c)(3)GENERAL SUPPORT General Support$7,000
Southern Poverty Law Center IncMontgomery, AL501(c)(3)GENERAL SUPPORT General Support$6,000

International Summary

Spending
$171,346,519

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsN/a--$162,175,607
Europe (Including Iceland and Greenland)InvestmentsN/a--$9,170,912
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Jasper Ridge Partners LP35% controlled entity of interested personsSee Supplemental Information 2No$884,524
Jasper Ridge Services LLC35% controlled entity of interested personsSee Supplemental Information 1No$557,089

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Jasper Ridge Charitable Fund
EIN
47-2088631
In Care Of
% JACK A MUHLBEIER
Phone
8173330016
Address
201 MAIN STREET Suite 1000, FORT WORTH, TX 76102-3109

Signing Officer

Name
Jack Muhlbeier
Title
Treasurer
Phone
8173330016
Signed
2019-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark a Wolfson
Formed
2014
Legal Domicile
De
Voting Board Members
7
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Kpmg Llp
Address
210 PARK AVE SUITE 2650, OKLAHOMA CITY, OK 73102
Preparer
Lori a Mclaughlin
Phone
8642502620
Supplemental Narrative

Additional Explanations

General Statement 1

Form 990, part i, line 1 the mission of jasper ridge charitable fund (jrcf) is to expand the philanthropic impact of donors by supporting and simplifying charitable giving and by promoting awareness of opportunities to improve social welfare through charitable grants and impact investments.

General Statement 2

Form 990, part iii, line 4a jrcf achieves its mission primarily through administering donor advised funds (dafs). Jrcf accepts contributions from individuals, foundations, corporations, partnerships, trusts, and estates, which are used to fund dafs maintained by the organization. Donated funds will be invested in a variety of partnerships designed to allow for the liquidity necessary to support regular grantmaking. Although all contributions are subject to the exclusive legal authority and control of jrcf, donor advisors may recommend contributions to qualified recipients. Jrcf reviews each grant recommendation to ensure all distributions are made exclusively for a charitable purpose.

General Statement 3

Form 990, part vi, line 2 the following directors and/or officers have a business relationship as they are each employed by, or officers of, jasper ridge partners, lp, or its affiliates: mark a. Wolfson and george d. Phipps, directors and officers of the corporation; adan araujo, john h. Fant, shannon kline, jack a. Muhlbeier, pamela pavkov, rajesh swaminathan, and nick tandon, officers of the corporation. B. Howard pearson, director of the corporation, is independently contracted by jasper ridge partners, lp, for the performance of services. One or more client vehicles of jasper ridge partners, lp, are investors in one or more investment funds managed by or affiliated with an investment entity, of which deborah l. Harmon, director of the corporation, is an executive officer. One or more client vehicles of jasper ridge partners, lp, are investors in one or more investment funds managed by or affiliated with an investment entity, with which russell b. Hall, director of the corporation, is affiliated.

General Statement 4

Form 990, part vi, line 11b the form 990 is prepared by an outside accounting firm based on information provided by jrcf. The form 990 is then reviewed by the organization's treasurer. The form 990 is then distributed to board members prior to filing with the irs.

General Statement 5

Form 990, part vi, line 12c officers and board members are required annually to sign and return a conflict of interest form. Additionally, officers and board members have an ongoing duty to disclose conflicts. Upon disclosure of any potential conflict, the independent board members shall meet to discuss and vote on whether a conflict exists. The board then follows predetermined procedures to appropriately remediate, monitor, or eliminate any conflicts.

General Statement 6

Form 990, part vi, line 19 the organization's governing documents, conflict of interest policy and financial statements are made available upon reasonable request.

General Statement 7

Form 990, part xii, line 2c the organization established a committee that assumed responsibility for oversight of the audit, review, or compilation of its financial statements. This committee began service reviewing the audited financial statements for the calendar year ending december 31, 2018.

Financial Statement Notes

Schedule D, Part X, Line 2

Although the fund does not have any uncertain tax positions and therefore has recorded no liability or benefit for such positions as of december 31, 2018, the fund is required to disclose the following footnote from the audited financial statements on its form 990: the fund is exempt from federal income taxes under section 501(c)(3) of the internal revenue code of 1986, as amended. Accordingly, jrcf is not subject to federal income tax, except to the extent that it has unrelated business taxable income. There were no material unrelated business activities from inception through december 31, 2018. Topic 740, income taxes, of the codification prescribes a recognition threshold and measurement requirements for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In addition, topic 740 provides guidance on recognition, classification, accounting in interim periods, and disclosure requirements for uncertain tax provisions. The fund does not have any uncertain tax positions and therefore has recorded no liability or benefit for such positions as of december 31, 2018.

Schedule D, Part XI, Line 4B

The amount reported on this line represents the current year investment income from flow-through investments, which is included in unrealized gains or losses for financial statement presentation purposes.

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IRS990/Form990PartVIISectionAGrp/PersonNm2PAUL BREST
IRS990/Form990PartVIISectionAGrp/PersonNm3RUSSELL B HALL
IRS990/Form990PartVIISectionAGrp/PersonNm4DEBORAH L HARMON
IRS990/Form990PartVIISectionAGrp/PersonNm5JAMES M PATELL
IRS990/Form990PartVIISectionAGrp/PersonNm6B HOWARD PEARSON
IRS990/Form990PartVIISectionAGrp/PersonNm7ADAN ARAUJO
IRS990/Form990PartVIISectionAGrp/PersonNm8JOHN H FANT
IRS990/Form990PartVIISectionAGrp/PersonNm9JACK A MUHLBEIER
IRS990/Form990PartVIISectionAGrp/PersonNm10PAMELA PAVKOV
IRS990/Form990PartVIISectionAGrp/PersonNm11RAJESH SWAMINATHAN
IRS990/Form990PartVIISectionAGrp/PersonNm12NICK TANDON
IRS990/Form990PartVIISectionAGrp/PersonNm13SHANNON KLINE - AS OF 91818
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR, PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR, VICE PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR OF GRANTS
IRS990/Form990PartVIISectionAGrp/TitleTxt11Chief Legal Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt12ADMINISTRATIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt13DONOR-ADVISOR ADMIN OFFICER
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