For more information, see Tides Nexus
The Harding Rock Fund is an investment holding nonprofit within the Tides Nexus, a collection of center-left pass-through funding and fiscal sponsorship nonprofits.
Relationship to the Tides Nexus
Also see Tides Nexus
The Harding Rock Fund is a 501(c)(3) nonprofit formed in 2004 in San Francisco, California. [1] The Fund is directly controlled by the Tides Foundation, the system’s largest grantmaking entity; consequently, the Harding Rock Fund describes its mission as “support[ing] the Tides Foundation,” and according to its tax filings its directors are appointed by the Tides Foundation. [2] [3]
The Fund further describes its mission as the following: [4]
Harding Rock Fund is formed for the purpose of supporting the Tides Foundation by holding and managing assets for the [Tides] Foundation and making grants from the income of such assets[.] During 2018, there were no grants made[.]
Leadership
According to its 2018 IRS Form 990, the Harding Rock Fund’s board of directors includes the following individuals: [5]
- Max Pike: President
- Lawrence Litvak (board secretary, treasurer)
- P. William Parish
The Harding Rock Fund is an investment holding nonprofit within the Tides Nexus, a collection of left-of-center pass-through funding and fiscal sponsorship nonprofits. The Fund is controlled by the Tides Foundation, the system’s largest grantmaking entity; the Harding Rock Fund describes its mission as “support[ing] the Tides Foundation.” [6]
Structure
The Fund does not have any compensated employees, and the organization does not have any “members” by definition of its bylaws. [7] A majority of the directors and their successors are appointed by the Tides Foundation, which controls the Fund. [8] As such, the Fund’s Articles of Incorporation and numerous sections of the bylaws may only be amended with the Foundation’s approval. [9]
The following related tax-exempt organizations are identified In the Fund’s 2018 tax return: Tides Foundation, Tides Network, Tides Center, Tides Inc., Tides Two Rivers Fund. [10] The Fund’s tax return also identifies the following officers: Max Pike (President); Lawrence Litvak (Secretary, Treasurer, Director); P. William Parish (Director). [11]
Finances
According to the organization’s tax return, in 2018 the Fund’s total annual revenue ($169,693)[12] was comprised of only the following two sources: unrelated business income from passthroughs ($164,893)[13] and tax refunds ($4,800). [14] The Fund’s assets totaled $707,028 in 2018[15] and were made up by the following: investment in S-Corporation ($642,381)[16] and non-interest-bearing cash ($64,647). Accounts payable and accrued expenses, which composed the entirety of the Fund’s liabilities, totaled only $5,828 for the year 2018. [17]