Holdfast Trust

“The form 990 is prepared by a public accounting firm and the trustee reviews the 990 prior to filing.”

“The organization is managed by an institutional trustee, four seas llc dba holdfast collective. The trustee fee is paid to an institutional trustee for management and operational services and does not represent compensation to any individual employee. The fee covers the operating costs for this grant making entity and outside advisor fees for accounting, legal and consulting. The organization sought an opinion from an independent consultant to determine the fee, which was established using comparability data and is based on the total income generated by the assets of the trust. The trustee fee is documented in the trustee fee agreement. The institutional trustee fee is reported on part vii, section a as well as part ix line 5 according to irs form 990 instructions.”

“Documents were made available to the public as soon as the documents were finalized and approved by irs.”

“Four seas llc is doing business as the holdfast collective, which is a trustee supporting the philanthropic work of five non-profit trusts: the holdfast trust, chalten trust, sojourner trust, wilder trust, and tail wind trust. The holdfast collective is a trust company that was created to efficiently manage and administer the philanthropic work of the non-profits. Please refer to the part vi, line 15a disclosure for more information on the services provided by the holdfast collective. All of the non-profits served by the holdfast collective are 501(c)(4) social welfare organizations. The non-profits, collectively, own 100% of patagonia's non-voting stock and receive 97.65% of any dividend patagonia issues. Dividends issued by patagonia fund the philanthropic work of the non-profits. The largest non-profit is the holdfast trust; it receives 77.7% of any dividend. All the non-profits are dedicated to fighting the environmental crisis. For simplicity, we refer to the holdfast collective as patagonia's non-profit shareholder.”