By the end of our spend down in 2029, we will invest all of the foundation’s $365 million assets back into the communities were we live and work. Our current remaining endowment is approximately $225 million.
Each year, we hire an independent auditor to review our financial statements and internal controls. We file a Form 990-PF1 and, if required, a Form 990-T2 each year with the Internal Revenue Service. This return provides detailed financial data, a complete list of grants awarded, and other information about our Foundation. We invite you to review our latest audited financial statements and tax returns below.
1Private foundations are required to file this form each year with the Internal Revenue Service.
2Organizations such as foundations use this form to determine the income tax owed on unrelated business income. The IRS defines unrelated business income as “the gross income derived from any trade or business that is regularly carried on, and not substantially related to the organization’s exempt purpose or function.” Under the IRS’s definition, some of the foundation’s investments, including investments in real estate partnerships, are reported as unrelated business income.