Greenpeace Fund Inc

“In december 2024, the organization was the victim of a sophisticated cyber theft that resulted in an unauthorized transfer of $4.35 million from its corporate bank account. The attack involved highly sophisticated fraudulent communications to the organization. Upon discovery, the organization immediately launched an internal investigation and engaged external experts to assess the matter and mitigate further risk. These efforts are likely to yield the recovery of some, but not all, of the stolen money; additionally, some of the loss will be covered by insurance. In response to the incident, the company has enhanced its cybersecurity protocols, including conducting employee training on phishing and fraud, and reinforcing internal controls related to electronic fund transfers.”

“There are no committees with authority to act on behalf of the governing body.”

“The 990 is prepared by an independent public accounting firm based on data and schedules provided by the finance director, and reviewed by the organization's management team. The 990 is then reviewed and approved by the finance committee. After this approval, the 990 is submitted to the full board prior to filing with the internal revenue service. These various levels of review ensure the information filed is complete, accurate, and in compliance with regulations.”

“The organization's conflict of interest policy is reviewed annually by each member of the board of directors and acknowledged in writing. This process is overseen by general counsel. On an annual basis, each director also completes a disclosure form identifying any relationships, positions or circumstance in which he or she believes could contribute to a conflict. Following full disclosure of a possible conflict of interest, the board of directors shall determine whether a conflict of interest exists, and, if so, the board takes any action deemed necessary to address the conflict and protect the organization's best interests. Interested persons are also urged to disclose the existence of potential conflicts as they arise. Interested persons are to disclose new potential conflicts during the year during a meeting of the board of directors. The board of directors then assesses the potential conflict and vote to determine if a conflict of interest exists. If a conflict of interest does exist, employees are required to disqualify themselves from acting or participating in professional duties.”

“The organization periodically benchmarks trying to remain consistent across the industry in terms of salary, responsibilities, seniority. We use relevant market data for each position to determine compensation. Compensation for the executive director and top management is independently reviewed and based on analysis of comparable data obtained from industry resources (e.g. Payscale & companalyst), publicly disclosed 990s, peer organizations, and our payroll processing company. The relevant labor market for greenpeace, inc.: region: mid-atlantic; size: 200-500 fte; revenue: 50m; industry: not for profit. Benchmarking results are assembled and documented by the people and culture director. Senior level salary positions are reviewed by the executive director, the chief operating officer, the people and culture director, and the program director in most cases; while for the executive director and top management, the boards are also involved in the periodic benchmarking reviews. This process was last performed in 2024.”

“The form 990 is posted on the organization's website. The 990 is also made available, as well as form 1023, upon request in accordance with the u.s. Title 26, subtitle f, chapter 61, subchapter b, section 6104(d)(1)(b).”

“Greenpeace fund's organizational documents, code of ethics (which includes conflict of interest policy), annual reports, and related documents are posted on the organization's website. In addition, audited financial statements are periodically posted to the website annually.”

“Change in value of split interest agreements -96,694. Loss on energy transfer suit verdict -131,500,000. Loss due to cyber crime -4,354,050.”

“Greenpeace fund, inc., was found liable in a $131 million jury verdict rendered in march, 2025 in north dakota in connection with litigation brought by energy transfer, lp and related entities. The litigation between energy transfer and greenpeace centers on the environmental and indigenous rights protests against the dakota access pipeline (dapl) that took place in 2016 and 2017. The jury found greenpeace fund, inc., liable for defamation and tortious interference, which the plaintiffs argued led to significant project delays and financial losses. The organization has filed motions challenging the verdict, and as of the date of issuance of these financial statements, no judgment has been entered by the court. If the court does enter judgment against greenpeace fund, inc., and denies a new trial, the organization will appeal. The outcome and timing of these legal processes remain uncertain. The verdict represents a liability in excess of the organization's current financial resources. As of december 31, 2024, greenpeace fund, inc. Had cash and cash equivalents of $24 million and total assets of $42 million. If judgment issues in the amount of the verdict, and is not subsequently vacated or reversed, the organization does not have sufficient liquidity to satisfy the judgment or to continue normal operations if the judgment is enforced. As a result of these factors, management has concluded that there is substantial doubt about greenpeace fund, inc.'s ability to continue as a going concern for a period of one year after the date that these financial statements are issued. The accompanying financial statements have been prepared assuming greenpeace fund, inc. Will continue as a going concern and include an adjustment that reflects the expected outcome of this uncertainty.”