Civic Intelligence

The Lemelson Foundation

EIN 88-0391959 • Portland, OR

View Organization Page

2035 NW Front Avenue 501Portland, OR 97209
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

16th percentile

0.01x

Higher debt load relative to assets than 16% of similar nonprofits.

$250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

26th percentile

0.15x

Higher debt load relative to revenue than 26% of similar nonprofits.

$250M-$1B nonprofits • Source year 2024

Net Margin

10th percentile

-20%

Higher net margin than 10% of similar nonprofits.

$250M-$1B nonprofits • Source year 2024

Top Officer Pay

72nd percentile

$495,960

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

$250M-$1B nonprofits • Source year 2024

Asset Growth

23rd percentile

-0.5%

Faster asset growth than 23% of similar nonprofits.

$250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

98th percentile

355%

Faster revenue growth than 98% of similar nonprofits.

$250M-$1B nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets16th percentile

Assets

Down

$414,428,200

Down $2,213,873 (-0.5%) from 2023

Liabilities

Up

$4,041,557

Up $170,388 (+4.4%) from 2023

Net Assets

Down

$410,386,643

Down $2,384,261 (-0.6%) from 2023

Operations
Liabilities / Revenue26th percentileNet Margin10th percentile

Revenue

Up

$27,191,988

Up $21,211,783 (+355%) from 2023

Expenses

Up

$32,502,127

Up $5,564,386 (+21%) from 2023

Net Income

Up

-$5,310,139

Up $15,647,397 (+75%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth23rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600M$400M$200M$0Assets 2011: $322,911,149Liabilities 2011: $3,512,0902011Assets 2012: $343,785,771Liabilities 2012: $3,012,1062012Assets 2013: $371,827,049Liabilities 2013: $4,798,1682013Assets 2014: $369,141,545Liabilities 2014: $3,653,6672014Assets 2015: $350,629,449Liabilities 2015: $2,869,3882015Assets 2018: $363,836,502Liabilities 2018: $1,971,440Net Assets 2018: $361,865,0622018Assets 2019: $405,508,342Liabilities 2019: $2,732,661Net Assets 2019: $402,775,6812019Assets 2020: $447,642,661Liabilities 2020: $3,518,612Net Assets 2020: $444,124,0492020Assets 2021: $488,510,181Liabilities 2021: $4,078,160Net Assets 2021: $484,432,0212021Assets 2022: $395,930,447Liabilities 2022: $3,166,469Net Assets 2022: $392,763,9782022Assets 2023: $416,642,073Liabilities 2023: $3,871,169Net Assets 2023: $412,770,9042023Assets 2024: $414,428,200Liabilities 2024: $4,041,557Net Assets 2024: $410,386,6432024

Highlighted filing

2024

Assets$414,428,200
Liabilities$4,041,557
Net Assets$410,386,643
Open 2024 Filing

Operations Trend

Revenue Growth98th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$20M$0-$20M-$40MRevenue 2011: $16,330,608Expenses 2011: $21,112,454Net Income 2011: -$4,781,8462011Revenue 2012: $13,957,641Expenses 2012: $17,858,132Net Income 2012: -$3,900,4912012Revenue 2013: $13,355,422Expenses 2013: $20,975,456Net Income 2013: -$7,620,0342013Revenue 2014: $21,896,998Expenses 2014: $20,484,285Net Income 2014: $1,412,7132014Revenue 2015: $22,838,243Expenses 2015: $22,494,829Net Income 2015: $343,4142015Revenue 2018: $31,212,382Expenses 2018: $25,619,078Net Income 2018: $5,593,3042018Revenue 2019: $28,252,686Expenses 2019: $24,108,572Net Income 2019: $4,144,1142019Revenue 2020: $33,827,688Expenses 2020: $24,831,124Net Income 2020: $8,996,5642020Revenue 2021: $33,726,014Expenses 2021: $22,452,510Net Income 2021: $11,273,5042021Revenue 2022: $7,159,811Expenses 2022: $22,384,534Net Income 2022: -$15,224,7232022Revenue 2023: $5,980,205Expenses 2023: $26,937,741Net Income 2023: -$20,957,5362023Revenue 2024: $27,191,988Expenses 2024: $32,502,127Net Income 2024: -$5,310,1392024

Highlighted filing

2024

Revenue$27,191,988
Expenses$32,502,127
Net Income-$5,310,139
Open 2024 Filing

Filings

Most recent year

2024 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$414,428,200
Liabilities
$4,041,557
Net assets
$410,386,643
Revenue
$27,191,988
Expenses
$32,502,127
Net income
-$5,310,139
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$414$4.04$410$27.2$32.5$5.31
2023Detailed filing. Detailed filing data is available for this year.$417$3.87$413$5.98$26.9$21.0
2022Detailed filing. Detailed filing data is available for this year.$396$3.17$393$7.16$22.4$15.2
2021Detailed filing. Detailed filing data is available for this year.$489$4.08$484$33.7$22.5$11.3
2020Detailed filing. Detailed filing data is available for this year.$448$3.52$444$33.8$24.8$9.00
2019Detailed filing. Detailed filing data is available for this year.$406$2.73$403$28.3$24.1$4.14
2018Detailed filing. Detailed filing data is available for this year.$364$1.97$362$31.2$25.6$5.59
2015Summary only. Only limited summary data is available for this year.$351$2.87$22.8$22.5$0.34
2014Summary only. Only limited summary data is available for this year.$369$3.65$21.9$20.5$1.41
2013Summary only. Only limited summary data is available for this year.$372$4.80$13.4$21.0$7.62
2012Summary only. Only limited summary data is available for this year.$344$3.01$14.0$17.9$3.90
2011Summary only. Only limited summary data is available for this year.$323$3.51$16.3$21.1$4.78
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
ROBERT SCHNEIDERExecutive Director, Asst. SecretaryFT$398,231$97,729$495,960
BRIAN DORANChief Fin Admin Officer, Asst. TreasFT$248,990$83,383$332,373
ERIC LEMELSONPres., Board Chair, Treas., Asst. Sec.PT$0--
ROBERT LEMELSONVP, Secretary, Asst. Treas.PT$0--
SUSAN MORSEDirectorPT$0--
JENNIFER BRUMLDirectorPT$0--
ANN MORGANVice President-$0--
Filing and Contact Details

Filer

Filer Name
The Lemelson Foundation
EIN
88-0391959
Phone
5038278910
Address
2035 NW FRONT AVENUE 501, PORTLAND, OR 97209

Signing Officer

Name
Robert M H Schneider
Title
Executive Director
Phone
5038278910
Signed
2025-11-17
Discuss with paid preparer
Yes

Preparer

Firm
Clark Nuber Ps
Address
555 110TH AVE NE SUITE 700, BELLEVUE, WA 98004
Preparer
Jennifer Becker Harris
Phone
4254544919
Raw XML AppendixShowing 400 of 2,106 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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AccountingFeesSchedule/AccountingFeesDetail/DisbursementsCharitablePrpsAmt0108717
AccountingFeesSchedule/AccountingFeesDetail/NetInvestmentIncomeAmt044320
AllOthProgRltdInvestmentsSch/AllOtherProgramRelatedInvstGrp/Amt054717
AllOthProgRltdInvestmentsSch/AllOtherProgramRelatedInvstGrp/Desc0THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN MENTERRA SOCIAL IMPACT FUND II. THE INVESTMENT WILL BE USED FOR EARLY-STAGE, INVENTION-LED ENTERPRISES WITH A FOCUS ON SOCIAL IMPACT IN INDIA, THROUGH PRODUCT INNOVATION, TARGETING THE EDUCATION, HEALTHCARE, ENERGY, AND AGRICULTURE SECTORS.
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ForeignAddress/AddressLine1Txt55TH FLOOR STRATHMORE STUDENT CENTRE
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ForeignAddress/AddressLine1Txt7638 7TH CROSS 11TH MAIN HAL STAGE
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ForeignAddress/AddressLine1Txt10742 15TH CROSS 6TH PHASE JP NAGAR
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ForeignAddress/AddressLine2Txt2KERI ROAD
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ForeignAddress/AddressLine2Txt3KERI ROAD
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ForeignAddress/AddressLine2Txt5II INDIRA NA
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt02016-07-27
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt22023-07-06
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt32022-06-01
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt42021-12-13
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt52019-08-12
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt62019-10-16
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt72022-11-04
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt82024-09-07
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt92017-10-02
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt102022-11-14
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt112009-07-01
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt122021-06-01
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt132015-03-25
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt142024-08-21
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt152008-12-23
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt162009-06-16
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt172018-10-10
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt182014-10-23
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/GrantDt192012-06-26
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt0THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN ANKUR INVESTMENTS LTD. (THE "ANKUR FUND"), OF WHICH ANKUR FINCON MANAGEMENT PVT., LTD., IS THE INVESTMENT MANAGER, IN THE FORM OF PURCHASING AN EQUITY INTEREST IN THE ANKUR FUND. THE FOUNDATION'S INVESTMENT IN THE ANKUR FUND WILL BE USED TO ENABLE THE ANKUR FUND TO INVEST IN INNOVATIVE ENTERPRISES, INCLUDING INVENTION-BASED ENTERPRISES THAT PRODUCE TANGIBLE PRODUCTS, IN THE SEED STAGE THAT CAN EMPOWER THE POOR IN INDIA. THE FOUNDATION CONTINUES TO OWN ITS EQUITY INTEREST IN THE ANKUR FUND.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt1TO ASSESS THE FEASIBILITY OF AND DESIGN FOR A NEW INVESTMENT FACILITY INTENDED TO MOBILIZE MORE INVESTMENT WITHIN AFRICAN COUNTRIES INTO LOCAL ENTERPRISES DEVELOPING SOLUTIONS TO MEET THE NEEDS OF VULNERABLE, LOW-INCOME CONSUMERS.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt2TO (1) PROVIDE SUPPORT TO PILOT A PROGRAM IN WHICH THE GRANTEE WILL TEST HOW ITS DRONE HARDWARE CAN BE LEVERAGED BY LOCAL BUSINESSES IN KENYA WHO OFFER SERVICES TO SMALLHOLDER FARMERS, AN IMPOVERISHED AND UNDER-RESOURCED COMMUNITY, IN ORDER TO INCREASE YIELDS AND EARNINGS FOR SMALLHOLDER FARMERS, THEREBY REDUCING POVERTY AND INCREASING FOOD SECURITY (THE "PROJECT"), AND (2) HELP THE GRANTEE IDENTIFY AND SECURE ADDITIONAL SUPPORT FOR THE PROJECT FROM OTHER FUNDING SOURCES IN ORDER TO SCALE THE PROGRAM AND ITS INTENDED IMPACT ON SMALL HOLDER FARMERS IN KENYA.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt3THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN THE FORM OF A LOAN TO JAZA RIFT VENTURES GP LLC ("JAZA"). THE PURPOSE OF THE LOAN IS TO ENABLE JAZA TO INVEST IN EARLY-STAGE INVENTION- AND INNOVATION-BASED BUSINESSES FOCUSED ON IMPROVING ACCESS TO AFFORDABLE HEALTHCARE IN AFRICA AND IMPROVING THE HEALTH OF POPULATIONS IN AFRICA. THE PROMISSORY NOTE FROM JAZA TO THE FOUNDATION REMAINS OUTSTANDING.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt4THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN JOLT.SEED419 ("JOLT.SEED") IN THE FORM OF PURCHASING AN EQUITY INTEREST IN JOLT.SEED. THE PURPOSE OF THE INVESTMENT IS TO INCREASE INVESTMENTS IN COHORT COMPANIES OF THE THIRD DERIVATIVE ACCELERATOR PROGRAM THAT IS OPERATED BY ROCKY MOUNTAIN INSTITUTE ("RMI"), WHICH IS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; BY INVESTING IN THESE COHORT COMPANIES, MORE EARLY-STAGE COMPANIES THAT OTHERWISE WOULD HAVE DIFFICULTY ACCESSING FINANCIAL SUPPORT FROM TRADITIONAL COMMERCIAL SOURCES WILL HAVE ACCESS TO CAPITAL AND WILL HAVE SIGNIFICANT POTENTIAL, AS DETERMINED BY RMI, TO COMBAT AND MEANINGFULLY IMPACT THE ADVERSE EFFECTS OF CLIMATE CHANGE. THE FOUNDATION CONTINUES TO OWN ITS EQUITY INTEREST IN JOLT.SEED.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt5TO SUPPORT THE OPERATIONS OF A PROTOTYPING AND MANUFACTURING SPACE AND TRAINING ENGINEERS AND FABRICATORS TO ADDRESS A TALENT GAP IN KENYA.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt6TO SUPPORT KENYA IMPACT INNOVATIONS FOUNDATION'S BUSINESS INCUBATION ACTIVITIES AND TO BUILD A STRONGER PIPELINE OF INVENTION-BASED ENTERPRISES IN EAST AFRICA THAT WILL MEET THE HEALTH NEEDS FOR LOW RESOURCE POPULATIONS.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt7TO SUPPORT BUSINESS INCUBATION ACTIVITIES, DEVELOP A PIPELINE OF INVENTION-BASED ENTERPRISES, AND STRENGTHEN AN INCLUSIVE INNOVATION ECOSYSTEM THAT WILL INCREASE ACCESS TO QUALITY HEALTHCARE AND OTHER BIOTECH INNOVATIONS IN EAST AFRICA.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt8TO PILOT THE CONCEPT OF LEAN START-UP VENTURE STUDIO IN KENYA THAT AIMS TO HELP ENTREPRENEURS TO IDEATE AND INVENT HEALTH SOLUTIONS TARGETED AT IMPROVING THE HEALTH OF LOW-INCOME AND UNDERSERVED POPULATIONS.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt9THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN MENTERRA SOCIAL IMPACT FUND 1, AN INDIAN ALTERNATIVE INVESTMENT FUND - SOCIAL VENTURE FUND (THE "MENTERRA FUND"), IN THE FORM OF PURCHASING AN EQUITY INTEREST IN THE MENTERRA FUND. THE FOUNDATION'S INVESTMENT IN THE MENTERRA FUND WILL BE USED FOR INVESTMENT IN EARLY-STAGE, INVENTION-LED ENTERPRISES WITH A FOCUS ON SOCIAL IMPACT IN INDIA, THROUGH PRODUCT INNOVATION, TARGETING THE EDUCATION, HEALTHCARE, ENERGY, AND AGRICULTURE SECTORS. THE FOUNDATION CONTINUES TO OWN ITS EQUITY INTEREST IN THE MENTERRA FUND.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt10THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN MENTERRA SOCIAL IMPACT FUND II, AN INDIAN ALTERNATIVE INVESTMENT FUND - SOCIAL VENTURE FUND (THE "MENTERRA FUND II"), IN THE FORM OF PURCHASING AN EQUITY INTEREST IN THE MENTERRA FUND II. THE FOUNDATION'S INVESTMENT IN THE MENTERRA FUND II WILL BE USED FOR INVESTMENT IN EARLY-STAGE, INVENTION-LED ENTERPRISES WITH A FOCUS ON SOCIAL IMPACT IN INDIA, THROUGH PRODUCT INNOVATION, TARGETING THE EDUCATION, HEALTHCARE, ENERGY, AND AGRICULTURE SECTORS. THE FOUNDATION CONTINUES TO OWN ITS EQUITY INTEREST IN THE MENTERRA FUND II.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt11THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN CONVERSION SOUND, LLC (THE "LLC"), BY PURCHASING LIMITED LIABILITY COMPANY UNITS OF THE LLC IN ORDER TO PROVIDE THE LLC WITH WORKING CAPITAL TO FUND HARDWARE AND SOFTWARE ENGINEERING NECESSARY TO BUILD A PRODUCTION-READY PROTOTYPE OF A LOW-COST HEARING AID. IN 2010, THE LLC CONVERTED FROM A LIMITED LIABILITY COMPANY TO A C CORPORATION, AND IS NOW KNOWN AS NANTSOUND INC. (THE "CORPORATION"). IN EXCHANGE FOR ITS LIMITED LIABILITY COMPANY UNITS IN THE LLC, THE FOUNDATION RECEIVED SHARES OF THE CORPORATION AT THE TIME OF THE CONVERSION. THE FOUNDATION CONTINUES TO OWN THE SHARES OF THE CORPORATION.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt12THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN THE FORM OF A LOAN TO PRIME COALITION, INC. ("PRIME"), AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PURPOSE OF THE LOAN IS TO ENABLE PRIME TO CONTRIBUTE THE FOUNDATION'S LOAN PROCEEDS TO AZOLLA VENTURES CATALYTIC FUND I, LP, WHICH IN TURN SHALL INVEST IN COMPANIES THAT HAVE (1), IN PRIME'S DETERMINATION, THE POTENTIAL FOR GIGATON-SCALE CO-2 EQUIVALENT EMISSIONS REDUCTION BY 2050; (2) A HIGH POTENTIAL FOR ACHIEVING COMMERCIAL SUCCESS AT SCALE; AND (3), IN PRIME'S DETERMINATION, A COMPELLING CASE FOR "ADDITIONALITY," MEANING THAT THE INVESTEE'S CLIMATE IMPACT POTENTIAL IS ENDANGERED BY (I) A LACK OF INITIAL FUNDING, (II) PUNITIVE TERMS FROM OTHER INVESTORS THAT MAY DAMAGE THE INVESTEE, OR (III) INVESTORS WHO ARE NOT ABLE TO PRIORITIZE GIGATON-SCALE EMISSIONS REDUCTION. THE PROMISSORY NOTE FROM PRIME TO THE FOUNDATION REMAINS OUTSTANDING.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt13THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT LOAN TO PROMETHEAN POWER SYSTEMS, INC., FOR CASH FLOW SUPPORT FOR EFFORTS TO REACH SMALL DAIRIES AND DAIRY FARMERS IN ORDER TO COMMISSION NEW MILK CHILLERS IN RURAL INDIA, MAINTAIN MILK CHILLERS IN THE FIELD, AND THE ASSOCIATED EXPENSES OF ENSURING FARMERS ARE TRAINED WHICH WILL IMPROVE THE LIVELIHOODS FOR DAIRY FARMERS WITH LIMITED INCOMES, CREATE "WEALTH," IMPROVE ANIMAL HUSBANDRY PRACTICES, AND REDUCE THE INCIDENCE OF MILK-BORNE DISEASE TRANSMITTED BY SPOILED MILK. THE PROMISSORY NOTE FROM PROMETHEAN POWER SYSTEMS, INC., TO THE FOUNDATION REMAINS OUTSTANDING.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt14THE FOUNDATION MADE A PROGRAM RELATED INVESTMENT IN SANGAM PCC ("SANGAM"), IN THE FORM OF PURCHASING AN EQUITY INTEREST IN SANGAM. THE FOUNDATION INVESTMENT IN SANGAM WILL BE USED TO INVEST IN EARLY-STAGE (I.E., IN THE SEED, PRE-SERIES A, OR SERIES A STAGE), INNOVATION-DRIVEN ENTERPRISES IN EMERGING MARKETS (INCLUDING, BUT NOT LIMITED TO, INDIA) (1) THAT ACTIVELY CONTRIBUTE NEW SOLUTIONS TO TACKLING THE CLIMATE CRISIS, AND (2), WHICH WOULD OTHERWISE HAVE DIFFICULTY ACCESSING FINANCIAL SUPPORT FROM TRADITIONAL COMMERCIAL SOURCES, THEREBY PROVIDING THE PATHWAYS FOR LONG-TERM CLIMATE CHANGE MITIGATION AND CREATING INCLUSIVE AND CLIMATE-RESILIENT COMMUNITIES. THE FOUNDATION CONTINUES TO OWN ITS EQUITY INTEREST IN SANGAM.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt15THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN SELCO SOLAR LIGHT PVT. LTD ("SELCO") BY PURCHASING EQUITY SHARES OF SELCO, THE PROCEEDS OF WHICH ARE TO BE USED BY SELCO TO PROVIDE RELIABLE ENERGY SERVICES TO 200,000 HOUSEHOLDS IN A SUSTAINABLE WAY AND HELPS CREATE MODELS FOR POVERTY ALLEVIATION THROUGH COMMERCIAL CHANNELS. THE FULL AMOUNT OF THE PROCEEDS FROM THE FOUNDATION'S INVESTMENT IS BEING USED FOR THE PURPOSES OF THE FOUNDATION'S INVESTMENT. THE FOUNDATION CONTINUES TO OWN THE EQUITY SHARES OF SELCO.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt16THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN SELCO SOLAR LIGHT PVT. LTD. ("SELCO") INITIALLY BY PROVIDING A LOAN TO SELCO (THE "LOAN") FOR SELCO TO USE TO FUND A PROJECT TO REACH 200,000 HOUSEHOLDS WITH SOLUTIONS FOR THEIR ENERGY REQUIREMENTS, THEREBY IMPROVING THEIR STANDARD OF LIVING. ON 6/17/2011, THE LOAN WAS SATISFIED IN FULL WITH THE ISSUANCE OF ADDITIONAL EQUITY SHARES IN SELCO TO THE FOUNDATION (HELD BY THE FOUNDATION AS A PROGRAM-RELATED INVESTMENT), THE PROCEEDS OF WHICH ARE TO BE USED BY SELCO FOR THE SAME PURPOSES AS THE LOAN. THE FOUNDATION CONTINUES TO OWN THE EQUITY SHARES OF SELCO.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt17THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN THE FORM OF PURCHASING AN EQUITY INTEREST IN TEAMFUND, LP ("TEAMFUND"), THE GENERAL PARTNER OF WHICH IS A WHOLLY-OWNED SUBSIDIARY OF TEAMFUND, INC. (WHICH IS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE). THE FOUNDATION'S INVESTMENT IN TEAMFUND WILL BE USED TO IMPROVE THE LIVES OF LOW-RESOURCE, UNDERSERVED POPULATIONS IN DEVELOPING COUNTRIES BY INCREASING ACCESS TO AFFORDABLE, APPROPRIATE, AND SUSTAINABLE MEDICAL TECHNOLOGIES THAT EFFECTIVELY ADDRESS PRIORITY UNMET CLINICAL NEEDS. THE FOUNDATION CONTINUES TO OWN ITS EQUITY INTEREST IN TEAMFUND.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt18THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN UNITUS SEED FUND, LP, A CAYMAN ISLANDS EXEMPTED LIMITED PARTNERSHIP (THE "FUND"), IN THE FORM OF PURCHASING AN EQUITY INTEREST IN THE FUND. THE FOUNDATIONS INVESTMENT IN THE FUND WILL BE USED FOR INVESTMENT IN BUSINESSES THAT SERVE LARGE, UNDERSERVED, BASE-OF-THE-ECONOMIC-PYRAMID POPULATIONS, TO DELIVER BENEFITS SUCH AS IMPROVED INCOME LEVELS, IMPROVED EDUCATION OUTCOMES, AND IMPROVED ACCESS TO AFFORDABLE, QUALITY PRODUCTS AND SERVICES. THE FOUNDATION CONTINUES TO OWN ITS LIMITED PARTNERSHIP INTERESTS IN THE FUND.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt19THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN THE VENTUREAST TENET II FUND (THE "TENET II FUND"), AN INDIAN VENTURE CAPITAL FUND FOCUSED ON DEVELOPING TECHNOLOGY COMPANIES TO ADDRESS THE NEEDS OF PEOPLE IN RURAL INDIA, IN THE FORM OF PURCHASING AN EQUITY INTEREST IN THE TENET II FUND. THE FOUNDATION'S INVESTMENT WILL SPECIFICALLY DRIVE INVESTMENTS IN COMPANIES BENEFITING PEOPLE LIVING IN POVERTY. THE FULL AMOUNT OF THE PROCEEDS FROM THE FOUNDATION'S INVESTMENT IS BEING USED FOR THE PURPOSES OF THE FOUNDATION'S INVESTMENT. THE FOUNDATION CONTINUES TO OWN ITS EQUITY INTEREST IN THE TENET II FUND.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/PurposeOfGrantTxt20THE FOUNDATION MADE A PROGRAM-RELATED INVESTMENT IN VILCAP INVESTMENTS, LLC (THE "VILCAP FUND"), IN THE FORM OF PURCHASING AN EQUITY INTEREST IN THE VILCAP FUND. THE FOUNDATION'S INVESTMENT IN THE VILCAP FUND WILL BE USED TO ENABLE THE VILCAP FUND TO INVEST IN INVENTION-BASED ENTERPRISES WITH A FOCUS ON SOLVING THE WORLD'S MOST PRESSING PROBLEMS IN AGRICULTURE, EDUCATION, ENERGY, FINANCIAL SERVICES. THE FOUNDATION CONTINUES TO OWN ITS EQUITY INTERESTS IN THE VILCAP FUND.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt0THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. OTHER: AS OF 12/31/2024, THE FOUNDATION HAS RECEIVED DISTRIBUTIONS FROM THE ANKUR FUND IN THE AGGREGATE AMOUNT OF $87,594, LEAVING A REMAINING BALANCE OF $912,406.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt1THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORT WAS MADE.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt2THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORT WAS MADE.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt3THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORT WAS MADE.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt4THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt5THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. OTHER: THE GRANT WAS AMENDED ON JULY 21, 2021 WITH AN ADDITIONAL 576,261 IN FUNDS.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt6THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. OTHER: THE GRANT WAS AMENDED ON NOVEMBER 21,2022 WITH AN ADDITIONAL 50,780 OF FUNDS CARRIED OVER FROM A PREVIOUS UNEXPENDED GRANT.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt7THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt8THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt9THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. OTHER: AS OF 12/31/2024, THE FOUNDATION HAS RECEIVED DISTRIBUTIONS FROM THE MENTERRA FUND IN THE AGGREGATE AMOUNT OF $321,268.87, LEAVING A REMAINING BALANCE OF $1,618,731. CONTINUATION DATES OF REPORTS BY GRANTEE: 12/17, 2/18, 5/18, 7/18, 8/18, 11/19, 2/20
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt10THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. OTHER: IN 2024, THE FOUNDATION MADE ADDITIONAL PAYMENTS TO THE MENTERRA FUND II TOTALING $54,717, PURSUANT TO CAPITAL CALLS FROM THE MENTERRA FUND II (WHICH IS REFLECTED ABOVE IN THE TOTAL GRANT AMOUNT).
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt11THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. CONTINUATION DATES OF REPORTS BY GRANTEE: 7/10, 4/11, 9/12, 4/13, 3/14, 4/15, 5/16, 9/16,
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt12THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. OTHER: AS OF 12/31/2024, THE FOUNDATION HAS RECEIVED LOAN REPAYMENTS FROM THE GRANTEE IN THE AGGREGATE AMOUNT OF $108,073 LEAVING A REMAINING BALANCE OF $1,891,927.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt13THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt14THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE.
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt15THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. CONTINUATION DATES OF REPORTS BY GRANTEE: 7/09, 7/10, 7/11, 8/11, 7/12, 8/13, 8/14, 8/15
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt16THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. CONTINUATION DATES OF REPORTS BY GRANTEE: 7/10, 5/11, 8/11, 7/12, 7/13, 8/13, 8/14, 8/15
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt17THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. OTHER: IN 2024, THE FOUNDATION MADE ADDITIONAL PAYMENTS TO THE TEAMFUND TOTALING $200,000, PURSUANT TO CAPITAL CALLS FROM TEAMFUND (WHICH IS REFLECTED ABOVE IN THE TOTAL GRANT AMOUNT).
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt18THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. OTHER: AS OF 12/31/2024, THE FOUNDATION HAS RECEIVED DISTRIBUTIONS FROM THE FUND IN THE AGGREGATE AMOUNT OF $182,207, LEAVING A REMAINING BALANCE OF $797,793. CONTINUATION DATES OF REPORTS BY GRANTEE: 3/15, 8/15
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt19THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. OTHER: AS OF 12/31/2024, THE FOUNDATION HAS RECEIVED DISTRIBUTIONS FROM THE TENET II FUND IN THE AGGREGATE AMOUNT OF $445,245, LEAVING A REMAINING BALANCE OF $441,201. CONTINUATION DATES OF REPORTS BY GRANTEE: 6/13, 8/14
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/ResultsOfVerificationTxt20THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WERE MADE. OTHER: AS OF 12/31/2024, THE FOUNDATION HAS RECEIVED DISTRIBUTIONS IN EXCESS OF THE AGGREGATE AMOUNT OF THE FOUNDATION'S INVESTMENT IN THE VILCAP FUND.
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/USAddress/AddressLine1Txt6440 PARK AVE S 3
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/USAddress/CityNm3EL CERRITO
ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/USAddress/CityNm4CAMBRIDGE
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/USAddress/CityNm6NEW YORK
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ExpenditureResponsibilityStmt/ExpenditureResponsibilityGrp/USAddress/StateAbbreviationCd8CA
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GeneralExplanationAttachment/GeneralExplanationGrp/FormAndLineReferenceDesc0EXPENDITURE RESPONSIBILITY STATEMENTS
GeneralExplanationAttachment/GeneralExplanationGrp/FormAndLineReferenceDesc1PART VI-A, LINE 11
GeneralExplanationAttachment/GeneralExplanationGrp/FormAndLineReferenceDesc2FORM 990-PF, PART VII, LINE 1
GeneralExplanationAttachment/GeneralExplanationGrp/FormAndLineReferenceDesc3PART VI-B, LINE 1B:
GeneralExplanationAttachment/GeneralExplanationGrp/FormAndLineReferenceDesc4FORM 990-PF, PART VII, LINE 1
GeneralExplanationAttachment/GeneralExplanationGrp/IdentifierTxt0PAGE 6, PART VI-B, LINE 5(D)
GeneralExplanationAttachment/GeneralExplanationGrp/IdentifierTxt1SCHEDULE OF CONTROLLED ENTITIES
GeneralExplanationAttachment/GeneralExplanationGrp/IdentifierTxt2LIABILITY INSURANCE
GeneralExplanationAttachment/GeneralExplanationGrp/IdentifierTxt3OFFICER ROLES
GeneralExplanationAttachment/GeneralExplanationGrp/MediumExplanationTxt0IT IS THE FOUNDATION'S POLICY THAT NO FURTHER PAYMENTS WILL BE MADE TO ANY GRANTEE UNTIL ALL OUTSTANDING REPORTS ARE RECEIVED. THE FOUNDATION HAS DETERMINED THAT FOR THOSE GRANTEES NO LONGER IN EXISTENCE AND WHO HAVE NOT PROVIDED TIMELY REPORTS, FURTHER ACTIONS WITH RESPECT TO THE GRANTS WOULD BE FUTILE. IN OTHER CASES, THE FOUNDATION HAS MADE REASONABLE EFFORTS TO NOTIFY THE GRANTEES THAT THEY ARE IN VIOLATION OF THEIR GRANT AGREEMENTS AND THAT GRANT FUNDS ARE REQUIRED TO BE RETURNED TO THE FOUNDATION. IN THOSE CASES, THE FOUNDATION HAS ALSO MADE REASONABLE ADDITIONAL INQUIRIES WITH RESPECT TO THE RETURN OF THE GRANT FUNDS AND HAS BEEN UNABLE AS OF YET TO SECURE SUCH RETURN. THE FOUNDATION HAS DETERMINED THAT LEGAL ACTION WITH RESPECT TO THESE GRANT FUNDS WOULD IN ALL PROBABILITY NOT RESULT IN THE SATISFACTION OF EXECUTION ON A JUDGMENT, AND THAT THE EXPENSE OF LEGAL ACTION WOULD NOT BE JUSTIFIED BY THE LIKELY RESULTS. FOR EACH GRANTEE WITH DELINQUENT REPORTS, EXPENDITURE RESPONSIBILITY STATEMENTS ARE INCLUDED IN THE FOUNDATION'S FORM 990-PF FOR THE YEAR OF EACH INITIAL GRANT PAYMENT THROUGH THE LAST YEAR IN WHICH ANY REPORT IS RECEIVED, AND THREE SUBSEQUENT YEARS. THEREAFTER, SUCH GRANTEES ARE EXCLUDED FROM THE FORM 990-PF AND FURTHER PAYMENTS WILL NOT BE MADE TO SUCH GRANTEES. NO GRANTEES QUALIFIED FOR THE EXCLUSION IN 2024.DEFINITIONS OF TERMS USED IN THE EXPENDITURE RESPONSIBILITY STATEMENTS: "GRANT AMOUNT" = TOTAL PAYMENTS MADE ON THE GRANT TO THE GRANTEE THROUGH THE END OF THE REPORTING DATE ON THE FORM 990-PF. "DATE OF GRANT" = THE DATE OF THE INITIAL GRANT PAYMENT. "VERIFICATION DATE" = THE DATE OF ANY INDEPENDENT VERIFICATION OF A GRANT REPORT. THE FIELD IS BLANK IF NO INDEPENDENT VERIFICATION OF ANY REPORTS FROM THE GRANTEE WAS MADE AS A RESULT OF THE FOUNDATION HAVING NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE. "DATES OF REPORTS BY GRANTEE" = THE DATES THE REPORTS ARE RECEIVED BY THE FOUNDATION. AN EXPENDITURE RESPONSIBILITY STATEMENT FOR A GRANT CONTINUES TO BE INCLUDED UNTIL ALL REPORTS HAVE BEEN APPROVED BY THE FOUNDATION, SUBJECT TO THE STATEMENT ABOVE AS TO GRANTEES WITH DELINQUENT REPORTS.
GeneralExplanationAttachment/GeneralExplanationGrp/MediumExplanationTxt1NAME OF CONTROLLED ENTITY: LEMELSON MEDICAL, EDUCATION & RESEARCH FOUNDATION, L.P. EMPLOYER ID NO: 88-0305280ADDRESS: 7800 RANCHARRAH PARKWAYRENO, NV 89511EXCESS BUSINESS HOLDING:[ ] YES [X ] NO
GeneralExplanationAttachment/GeneralExplanationGrp/MediumExplanationTxt2THE LEMELSON FOUNDATION PURCHASES DIRECTORS AND OFFICERS' LIABILITY INSURANCE THAT PROVIDES COVERAGE TO BOTH THE FOUNDATION AND ITS DIRECTORS AND OFFICERS. WHILE A PORTION OF THE PREMIUM MAY BE REGARDED AS COMPENSATION TO DIRECTORS AND OFFICERS, THE COMPENSATORY PORTION ALLOCABLE TO ANY ONE INDIVIDUAL IS DE MINIMIS.
GeneralExplanationAttachment/GeneralExplanationGrp/MediumExplanationTxt3DURING THE YEAR, AN INADVERTENT ACT OF SELF-DEALING WAS DISCOVERED FOR A DISQUALIFIED PERSON WHO RECEIVED FOUNDATION CREDIT FOR PERSONAL EXPENDITURES. THE FOUNDATION BOARD AND THE CEO ATTENDED A CONFERENCE ON JUNE 20, 2024. A BOARD MEMBER'S SPOUSE ALSO ATTENDED THE CONFERENCE. THE SPOUSE WAS NOT THERE ON FOUNDATION BUSINESS BUT RATHER IN A PERSONAL CAPACITY. THE CONFERENCE FOR ALL ATTENDEES WAS CHARGED TO THE FOUNDATION'S CREDIT CARD, INCLUDING THE ATTENDANCE ATTRIBUTED TO THE SPOUSE OF A DISQUALIFIED PERSON. DUE TO THERE BEING NO BUSINESS PURPOSE FOR THE SPOUSE OF A DISQUALIFIED PERSON TO ATTEND THE CONFERENCE, THE PAYMENT OF ATTENDANCE RESULTED IN AN ACT OF SELF-DEALING.THE COST OF THE ATTENDANCE ATTRIBUTABLE TO THE DISQUALIFIED PERSON'S SPOUSE WAS $125. THE DISQUALIFIED PERSON REIMBURSED THE PRIVATE FOUNDATION FOR THE PERSONAL CHARGE ON SEPTEMBER 12, 2025. SINCE THE TRANSACTION IS FOR THE USE OF MONEY, SELF-DEALING IS ON THE GREATER OF THE AMOUNT PAID FOR SUCH USE OR THE FAIR MARKET VALUE OF SUCH USE FOR THE PERIOD FOR WHICH THE MONEY IS USED (REG. 53.4941(E)-1(B)(2)(II)). NO INTEREST WAS CHARGED BY THE FOUNDATION FOR THESE FUNDS, THEREFORE THE 2024 SHORT-TERM AFR RATE FOR THE APPLICABLE MONTH HAS BEEN USED TO CALCULATE THE AMOUNT INVOLVED FOR SELF-DEALING PURPOSES. DUE TO THE AMOUNT BEING SMALL, THE BALANCE OUTSTANDING THROUGH DECEMBER 31, 2024, AND THE AFR RATE BEING LOW, THE AMOUNT INVOLVED IS $3 WHEN ROUNDED TO THE NEAREST DOLLAR. THE 10% EXCISE TAX ON THE AMOUNT INVOLVED RESULTS IN SELF-DEALING TAXES OF LESS THAN $.50 FOR THE DISQUALIFIED PERSON. AS A RESULT, NO FORM 4720 HAS BEEN FILED BY THE FOUNDATION OR THE DISQUALIFIED PERSON AS NO TAX IS DUE FOR THE YEAR.THE DISQUALIFIED PERSON UNDERSTANDS SUCH TRANSACTIONS MADE BY THE FOUNDATION ARE IMPERMISSIBLE. MEASURES HAVE BEEN PUT INTO PLACE TO MINIMIZE THE RISK OF AN INADVERTENT ACT OF SELF-DEALING IN THE FUTURE, INCLUDING EDUCATING ALL DISQUALIFIED PERSONS AND FOUNDATION MANAGERS ON THE TYPES OF ACTS THAT MAY RESULT IN SELF-DEALING.
GeneralExplanationAttachment/GeneralExplanationGrp/MediumExplanationTxt4THROUGH MAY 10, 2024 ROBERT LEMELSON WAS BOARD CHAIR, PRESIDENT, SECRETARY AND ASSISTANT TREASURER. ERIC LEMELSON WAS VICE PRESIDENT, TREASURER, AND ASSISTANT SECRETARY.
InvestmentsCorpBondsSchedule/InvestmentsCorporateBondsGrp/BondNm0INVESCO - SNW ASSET MGMT MUNI
InvestmentsCorpBondsSchedule/InvestmentsCorporateBondsGrp/BondNm1ISHARES BOND ETF
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InvestmentsCorpBondsSchedule/InvestmentsCorporateBondsGrp/EOYBookValueAmt111907835
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InvestmentsCorpStockSchedule/InvestmentsCorporateStockGrp/StockNm0APERIO GROUP CUSTOMIZED INDEX
InvestmentsCorpStockSchedule/InvestmentsCorporateStockGrp/StockNm1VANGUARD ESG STOCK SELECT (WELLINGTON)
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InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt11645602
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InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt3214912
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InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt11505339
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InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt1323145
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt1460912321
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt157096650
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt164810550
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt171799571
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt1811998842
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt1911063322
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt203027013
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt211671318
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt221904895
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt233060460
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt244655379
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt256885075
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt269821969
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt2711279084
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt281182559
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt29639066
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt30834265
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt311997866
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt3218146383
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt3368765
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt3411589047
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt351062335
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt3610301541
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt3739829
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt0ACCION FRONTIER FUND
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt1ACM FUND II LLC
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt2AKO GLOBAL FUND LIMITED
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt3AZOLLA VENTURES FULL-CYCLE FUND I, LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt4BRANDYWINE PE PARTNERS (2005) LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt5BRANDYWINE PE PARTNERS (2007) LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt6BRANDYWINE PE PARTNERS (2008) LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt7BRANDYWINE PE PARTNERS (2009) LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt8COMMONFUND CAPITAL INTL VI LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt9ELEVAR EQUITY III LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt10ENERGY IMPACT PARTNERS
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt11FARALLON CAPITAL INST PARTNERS, LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt12FOUNDERS CO-OP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt13GENERATION IM CLIMATE SOLUTIONS US LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt14GENERATION IM GLOBAL EQ FD, LLC
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt15GLOBAL IMPACT ACCESS PARTNERSHIP, LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt16GLOBAL IMPACT ACCESS PARTNERSHIP, LP II
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt17GLOBAL IMPACT OPPORTUNITIES III, LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt18GREENBACKER (CREC FUND II)
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt19IMPACTIVE CAPITAL
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt20LIGHTSMITH CLIMATE RESILIENCE PARTNERS S
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt21LYME FOREST FUND IV LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt22MARCHO PARTNERS
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt23MORGAN STANLEY PMF INTEGRO
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt24PORTFOLIO ADVISORS
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt25ROSE AFFORDABLE HOUSING PRESERVATION IV
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt26SOSV III
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt27SOSV IV
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt28STEPSTONE FORMERLY GREENSPRINGS
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt29VENTURE INVESTMENT ASSOC, IV LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt30VENTURE INVESTMENT ASSOC, V LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt31VENTURE INVESTMENT ASSOC, VI LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt32VIKING - HYBRID EQUITY FUND
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt33WASTEWATER
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt34APOLLO DEBT SOLUTION
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt35DCVC CLIMATE SELECT, LP
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt36AVANATH AFFORDABLE HOUSING FUND
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt37LEMELSON MEDICAL, EDUCATION & RESEARCH FOUNDATION, L.P.
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