Growald Climate Fund

About

The Growald Climate Fund began as the Growald Family Fund, an organization that gave to Vermont causes including historic preservation and conservation, as well as environmentalist initiatives. The organization still contributes to various organizations in Vermont but has since shifted its branding to focus more on environmentalist causes. ¹ Citing climate change, the organization claims to concentrate on transforming the electricity sector “to avoid shifting emissions from one sector to another.” ²

The fund is a self-proclaimed venture philanthropy fund that supports organizations that align with its mission. Potential grantees are evaluated based on factors including “high-impact potential, measurable results and scalability.” ³ The organization aims to promote long-term growth of the grantee by helping with the development of business plans and supporting organizational health. ⁴

One of the fund’s first grants was awarded to the “Beyond Coal” campaign, a project of the left-of-center Sierra Club that works to retire coal plants in favor of environmentalist energy. In September 2018, the fund committed $25 million toward addressing global climate change with a focus on the electricity sector ³ and claims to have supported nearly 80 organizations worldwide. ⁴

Finances

The Growald Climate Fund’s tax returns for 2019 reported more than $1.2 million in total revenue, of which just over $677,000 came from contributions or grants, and more than $3 million in expenses and disbursements. In 2019, the organization awarded grants to dozens of organizations including $15,000 to the Anti-Defamation League; $300,000 to E3G-Third Generation Environmentalism, a European environmentalist think tank; ⁵ $200,000 to the European Climate Foundation; $100,000 to the Natural Resources Defense Council; $10,000 to the New Venture Fund; and $100,000 to the World Wildlife Fund. Contributions to the Growald Climate Fund included over $238,000 from co-founders Eileen and Paul Growald, $21,316 from the IKEA Foundation, $105,000 from the Rockefeller Brothers Foundation, and $35,000 from the center-left Tides Foundation. ⁶

In 2018, the fund’s tax returns reported total revenue of more than $11 million. The organization awarded grants to several organizations including $35,000 to the Carbon Tracker Initiative, a think tank evaluating the economic impact of various energy sources; ⁷ $150,000 to E3G-Third Generation Environmentalism; and $50,000 to the Natural Resources Defense Council. The Growald Climate Fund received a variety of contributions including $10,628,000 from the estate of David Rockefeller and $385,000 from the European Climate Foundation. ⁸

Leadership

The Growald Climate Fund was founded by Eileen Rockefeller Growald, a great-granddaughter of John D. Rockefeller, Sr., and her husband Paul Growald in 2007. ⁹ Rockefeller Growald is also a founding chair of Rockefeller Philanthropy Advisors, a charitable advisory organization founded in 2000 for left-leaning grantmakers. ¹⁰ She is the president of the Growald Climate Fund. ¹¹

Paul Growald, an entrepreneur and philanthropist, is the vice-president of the Growald Climate Fund. ¹¹ He served in the first gubernatorial administration of California Gov. Jerry Brown (D), sitting on the California State Board of Food and Agriculture in the 1970s. ¹²

Adam Growald is the son of Eileen Rockefeller Growald and Paul Growald and is the treasurer of the Growald Climate Fund. ⁶ Growald also sits on the boards of the David Rockefeller Fund and the Rockefeller Family Fund. ¹³

Joanna Messing is the organization’s executive director, a position she has held since the organization’s inception in 2007. Before joining the Growald Climate Fund, Messing ran the company Positive Ventures, a consulting firm, and previously worked as an associate director of REDF, a venture philanthropy fund. ¹⁴