The New Venture Fund (NVF) is a 501(c)(3) funding and fiscal sponsorship nonprofit that makes grants to left-of-center advocacy and organizing projects and provides incubation serves for other left-of-center organizations. The fund focuses primarily on social and environmental change, issuing grants for a variety of projects that include conservation, global health, disaster recovery, education, and the arts. [1]
Critics argue that New Venture Fund is a “dark money” organization, serving as a way for left-leaning groups to anonymously funnel money toward various advocacy issues, such as attacking vulnerable Republicans or pushing state-level environmental restrictions. [2]
NVF often operates alongside its 501(c)(4) “sister” nonprofit Sixteen Thirty Fund, which provides similar funding and fiscal sponsorship services to center-left advocacy organizations. Both groups are administered by Arabella Advisors, a Washington, D.C.-based philanthropy consulting firm that caters to left-leaning clients. New Venture Fund’s board of directors includes officers from Arabella Advisors, including the firm’s principal Eric Kessler.
The Hopewell Fund and Windward Fund are also 501(c)(3) nonprofits managed by Arabella Advisors that work closely with NVF and Sixteen Thirty Fund.
Background
Creation
Also see Eric Kessler
The New Venture Fund was created on October 25, 2006 in the District of Columbia as the Arabella Legacy Fund; the 501(c)(3) nonprofit received IRS recognition of its tax exemption in January 2007. In October 2009, the Arabella Legacy Fund was officially renamed the New Venture Fund. [3]
At the time of its formation, Eric Kessler served as president of the Fund. Kessler is the founder and senior managing partner of Arabella Advisors, a philanthropy consulting firm headquartered in Washington, D.C. The Fund’s founding board of directors in 2006-2007 consisted of Kessler, then-Illinois Nature Conservancy executive director Bruce Boyd, and then-Western Conservation Foundation executive director Adam Eichberg. [4]
NVF was created with grants from an unknown source totaling $3.725 million. From the start, it also had an administrative services agreement with Arabella Advisors (then Arabella Philanthropic Investment Advisors) to provide management and consulting services to the NVF. According to its description of activities, the NVF was created to pursue two purposes: [5]
[F]irst, it will engage in a program dedicated to protecting and preserving the environment from the detrimental effects of off-road vehicle use; second, it will engage in a program dedicated to the American Christian Evangelical environmental community, building a grassroots movement of Evangelicals and educating the American public regarding the Evangelical environmental message.
The NVF’s founding document further quotes three Psalms from the Bible in support of advancing an environmentalist agenda. The NVF also explained in the document its intent to provide an “Environmental Toolkit for Pastors”: [6]
The Environmental Toolkit for Pastors will be designed to enable Pastors to integrate creation-care teaching into their ministry. An important part of [the] Pastor’s toolkit will be materials for worship services that will celebrate all of God’s creation and explore how mankind can be better stewards of the His [sic] creation, including suggestions for hymns (including processional, worship and offertory hymns and hymns of commitment), invocations, New and Old Testament lessons, responsive readings and sermon outlines (or “seeds” whereby Pastors can create their own sermons).
Worship materials will be created for various topics, including global warming, air and water pollution, endangered species and the environment’s effect on human health . . . . In addition, the Pastor’s toolkit will include materials . . . to educate Pastors regarding creation care’s basis in Scripture, as well as fact sheets for Pastors and their congregations on various environmental topics and suggestions for how congregations can take action to care for God’s creation.
Initiatives
The New Venture Fund claims it has sponsored over 280 projects since its inception in 2006 touching a broad range of center-left issues. [7]
Allied Progress
Also see Allied Progress (Nonprofit)
In 2015, Allied Progress was formed using money from New Venture Fund to push for Congress not to overturn the country’s ban on crude oil exports. Allied Progress ran an advertisement campaign in Colorado, Maine, Montana, New Hampshire, and New Mexico, urging voters to tell their senators they wanted to keep the ban. [8] Allied Progress Action is the sister to Allied Progress, and a project of the Sixteen Thirty Fund.
Education
New Venture Fund gave about $4 million to a failed Mississippi initiative in 2015 that would have given state judges power over school issues, including increased education spending. [9]
In a report over the National Education Association’s $138 million in spending in the 2016 fiscal year, Dropout Nation, an education reform website, pointed out the national teachers union gave $62,657 to New Venture Fund and $550,000 to Sixteen Thirty Fund, an endowment developed by Arabella Advisors. [10] Eric Kessler, the president and board chairman of New Venture Fund, also founded Arabella Advisors. [11]
Campaign for Accountability
Also see Campaign for Accountability (Nonprofit)
SiliconBeat reported that New Venture Fund was behind Campaign for Accountability, which did extensive research into Google’s relationship with the Obama White House and created the Google Accountability Project, a website that pointed out the tech giant’s heavy influence with the Obama administration. [12] The publication noted that New Venture Fund has received financial support from the Bill and Melinda Gates Foundation ($94 million between 2014 and 2016) and the William and Flora Hewlett Foundation ($17 million during that period.)[13]
Funding
Financial Overview
In 2017, the New Venture Fund reported revenues of $358,858,641, expenditures of $329,784,536, and net assets of $339,217,644. [14]
In 2016, the New Venture Fund reported revenues of $357,581,316, expenditures of $264,546,947, and net assets of $93,034,369. [15]
An overview of the New Venture Fund’s total revenues, total expenditures, grants paid, and net assets for 2006 to 2017 is available below: [16]
| New Venture Fund: Financial Overview | ||
|---|---|---|
| Total Revenues | Annual Change | |
| 2006 | $545,100 | |
| 2007 | $1,663,363 | 205% |
| 2008 | $6,011,782 | 261% |
| 2009 | $26,812,567 | 346% |
| 2010 | $16,813,261 | (37%) |
| 2011 | $36,542,348 | 117% |
| 2012 | $52,519,099 | 44% |
| 2013 | $112,942,320 | 115% |
| 2014 | $179,424,945 | 59% |
| 2015 | $318,405,056 | 77% |
| 2016 | $357,581,316 | 12% |
| 2017 | $358,858,641 | 0.4% |
| Total: | $1,468,119,798 | |
| Total Expenditures | Grants Paid | |
| 2006 | $40,399 | $0 |
| 2007 | $1,315,615 | $10,000 |
| 2008 | $3,983,417 | $2,172,460 |
| 2009 | $13,847,145 | $3,206,141 |
| 2010 | $14,893,390 | $4,105,145 |
| 2011 | $24,722,363 | $9,217,867 |
| 2012 | $39,574,786 | $17,076,406 |
| 2013 | $74,982,490 | $29,520,729 |
| 2014 | $134,487,602 | $56,602,126 |
| 2015 | $214,351,188 | $87,322,893 |
| 2016 | $264,546,947 | $114,285,885 |
| 2017 | $329,784,536 | $154,740,778 |
| Total: | $1,116,529,878 | $478,260,430 |
| Net Assets | ||
| 2006 | $504,701 | |
| 2007 | $852,449 | |
| 2008 | $2,881,343 | |
| 2009 | $16,229,856 | |
| 2010 | $18,149,727 | |
| 2011 | $29,969,712 | |
| 2012 | $42,914,025 | |
| 2013 | $80,873,855 | |
| 2014 | $125,811,198 | |
| 2015 | $230,092,075 | |
| 2016 | $321,816,285 | |
| 2017 | $339,217,644 | |
Donors to New Venture Fund
Between 2007 and 2018, the New Venture Fund received approximately $842 million in grants from 501(c)(3) public charities and foundations. The following chart denotes grants made to the New Venture Fund over that period: [17]
| New Venture Fund: Donors (2007-2018) | Year(s) | Cumulative Total |
|---|---|---|
| Grand Total: | $842,351,273 | |
| 1772 Foundation Inc. | 2013 | $5,000 |
| 444S Foundation | 2016 | $45,000 |
| A. L. Mailman Family Foundation Inc. | 2013, 2016 | $120,000 |
| A.M. Fund | 2015 | $5,000 |
| Acumen Fund Inc. | 2012 | $103,206 |
| Ada Brandon Charitable Foundation Inc. | 2007 | $10,000 |
| Aetna Foundation Inc. | 2012-2013 | $25,000 |
| Ag Foundation | 2016 | $25,000 |
| Agua Fund Inc. | 2013, 2015-2016 | $99,500 |
| Ahearn Fam Foundation | 2015 | $100,000 |
| Air Products Foundation | 2014-2016 | $575,000 |
| Ajana Foundation | 2016-2017 | $100,000 |
| Alabama Power Foundation Inc. | 2015 | $50,000 |
| Alfred P Sloan Foundation | 2010-2011, 2013, 2015-2017 | $121,2940 |
| Allergan Foundation | 2016 | $10,000 |
| Alphawood Foundation Chicago | 2014-2017 | $400,000 |
| Altman/Kazickas Foundation | 2017 | $100,000 |
| American Endowment Foundation | 2015-2017 | $245,527 |
| American Express Foundation | 2015 | $25,000 |
| Americana Foundation | 2015 | $5,000 |
| Amlicke Family Foundation | 2017 | $10,000 |
| Andy Warhol Foundation For Visual Arts Inc. | 2015-2017 | $225,000 |
| Angelica Foundation | 2015 | $10,000 |
| Annenberg Foundation | 2014-2017 | $1,592,778 |
| Annie E Casey Foundation | 2010, 2012, 2014-2016 | $516,000 |
| Apatow Family Foundation Inc. | 2015-2016 | $15,000 |
| Arca Foundation | 2007, 2015-2016 | $460,000 |
| Arcus Foundation | 2017 | $198,601 |
| Argosy Foundation | 2012 | $50,000 |
| Argyros Family Foundation | 2015-2016 | $35,000 |
| Arkay Foundation | 2016 | $45,000 |
| Arthur M Blank Family Foundation | 2016 | $25,000 |
| Atticus Trust | 2015-2016 | $175,000 |
| Avatar Alliance Foundation | 2015 | $250,000 |
| Avocet Foundation | 2014 | $40,000 |
| Ayco Charitable Foundation | 2009, 2011, 2015 | $43,000 |
| Azby Fund | 2010 | $25,000 |
| Baltimore Community Foundation Inc. | 2013-2014 | $121,000 |
| Bank Of America Charitable Foundation Inc. | 2014, 2017 | $65,323 |
| Bank Of America Charitable Gift Fund | 2013 | $75,000 |
| Barbara A Stiefel Foundation Inc. | 2017 | $50,000 |
| Barbara Lee Family Foundation Inc. | 2013, 2015 | $20,000 |
| Barbra Streisand Foundation | 2013, 2017 | $30,000 |
| Barr Foundation | 2013 | $75,000 |
| Barra Foundation Inc. | 2014 | $100,000 |
| Barth Family Foundation | 2014, 2016-2017 | $51,000 |
| Baton Rouge Area Foundation | 2010-2011 | $100,000 |
| Bauman Family Foundation | 2012-2015, 2017 | $2,216,800 |
| Ben & Jerry'S Foundation Inc. | 2016 | $25,000 |
| Ben E Factors Foundation | 2015 | $10,000 |
| Benton Foundation | 2015-2016 | $12,500 |
| Bernard & Irene Schwartz Foundation Inc. | 2007-2008 | $100,000 |
| Bernstein Family Foundation | 2016 | $10,000 |
| Bill And Melinda Gates Foundation | 2008-2017 | $221,720,318 |
| Bloomberg Family Foundation Inc. | 2015-2016 | $3,578,446 |
| Blue Moon Fund Inc. | 2015-2016 | $3,333,332 |
| Blum-Kovler Foundation | 2011 | $7,000 |
| Bobolink Foundation | 2012 | $35,000 |
| Boston Foundation Inc. | 2015-2016 | $229,500 |
| Brainerd Foundation | 2015 | $100,000 |
| Bridgeway Charitable Foundation | 2011 | $322,739 |
| Bruce And Cynthia Sherman Charitable Foundation Inc. | 2015-2016 | $754,538 |
| Bushrod H Campbell And Adah F Hall Charity Fund | 2017 | $10,000 |
| Butz Foundation | 2014, 2016-2017 | $100,000 |
| California Community Foundation | 2015-2016 | $491,000 |
| California Endowment | 2010-2011, 2013-2017 | $791,250 |
| California Healthcare Foundation | 2014 | $122,500 |
| California Physicians Service Foundation Dba Blue Shield Of California Foundation | 2016-2017 | $150,000 |
| California Wellness Foundation | 2015-2017 | $1,222,500 |
| Campion Foundation | 2015-2017 | $1,015,000 |
| Canning Foundation | 2016 | $50,000 |
| Carlo & Micol Schejola Foundation | 2010 | $10,000 |
| Carnegie Corporation Of New York | 2008, 2010-2011, 2013-2016 | $3,339,500 |
| Carsey Family Foundation | 2015 | $50,000 |
| Cartinhour-Woods Foundation Inc. | 2015-2016 | $8,000 |
| Casey & Family Foundation | 2016-2017 | $130,000 |
| Casey Family Programs | 2017 | $50,000 |
| Cedar Tree Foundation | 2012 | $200,000 |
| Ceres Trust | 2016 | $4,000 |
| Charina Endowment Fund Inc. | 2014 | $100,000 |
| Charles And Lynn Schusterman Family Foundation | 2013, 2015-2016 | $3,938,000 |
| Charles Stewart Mott Foundation | 2017 | $187,500 |
| Chestnut Fund | 2016-2017 | $180,000 |
| Chicago Community Foundation | 2011 | $352,110 |
| Chicago Community Trust | 2014, 2016 | $1,024,250 |
| Chick-Fil-A Foundation Inc. | 2016 | $25,000 |
| Chorus Inc. | 2015-2016 | $510,000 |
| Christensen Fund | 2011-2012, 2015-2016 | $1,275,500 |
| Christian R. and Mary F. Lindback Foundation | 2014-2015 | $25,000 |
| Civic Ventures | 2014 | $751,836 |
| Cjm Foundation | 2012 | $5,000 |
| Claneil Foundation Inc. | 2015-2016 | $125,000 |
| Clarence E Heller Charitable Foundation | 2013 | $35,000 |
| Columbus Foundation | 2016 | $64,000 |
| Combined Jewish Philanthropies Of Greater Boston Inc. | 2015-2017 | $2,550,500 |
| Common Counsel Foundation | 2015 | $35,000 |
| Community Foundation For National Capital Region | 2013, 2015-2017 | $125,000 |
| Community Foundation Serving Boulder County | 2013 | $50,000 |
| Compton Foundation Inc. | 2011-2012, 2015-2016 | $455,000 |
| Conrad N Hilton Foundation | 2011, 2014, 2016 | $1,005,000 |
| Conservation Fund | 2016 | $5,000 |
| Corinthian Foundation | 2016 | $5,000 |
| Cornell Douglas Foundation Inc. | 2016 | $20,000 |
| Coydog Foundation | 2012, 2015 | $195,000 |
| Craig And Susan Mccaw Foundation | 2015 | $66,500 |
| Craigslist Charitable Fund | 2015 | $25,000 |
| Cricket Island Foundation | 2016-2017 | $150,000 |
| D.N. Batten Foundation | 2013-2014 | $24,6000 |
| Daniel B And Florence E Green Foundation | 2016-2017 | $50,000 |
| Daphne Foundation | 2011 | $6,240 |
| David & Anita Keller Foundation | 2010 | $7,200 |
| David A Dechman Foundation | 2016 | $100,000 |
| David And Lucile Packard Foundation | 2008, 2011-2016 | $23,901,711 |
| David Bohnett Foundation | 2016 | $25,000 |
| David Rockefeller Fund Inc. | 2014 | $7,500 |
| David Winton Bell Foundation | 2015 | $10,000 |
| De Ramel Foundation | 2010 | $11,750 |
| Delaware Community Foundation | 2016 | $45,000 |
| Democracy Fund Inc. | 2015-2017 | $1,100,000 |
| Diana Oehrli Charitable Trust | 2010 | $11,750 |
| Dick And Sally Molpus Foundation | 2014-2017 | $1,250,000 |
| Diller Foundation | 2017 | $50,000 |
| Dobkin Family Foundation | 2015-2016 | $100,000 |
| Donley Foundation | 2015 | $10,000 |
| Doris Duke Charitable Foundation | 2013 | $17,000 |
| Draper Richards Kaplan Foundation | 2014-2016 | $250,000 |
| Earl And Brenda Shapiro Foundation | 2012 | $10,000 |
| Ebb Point Foundation Inc. | 2015 | $25,000 |
| Edna Mcconnell Clark Foundation | 2016 | $2,500,000 |
| Educational Foundation Of America | 2014-2016 | $281,000 |
| Educause | 2013-2014 | $550,000 |
| Einhorn Family Charitable Trust | 2015-2016 | $250,000 |
| Ejmp Fund For Philantrophy | 2010 | $11,750 |
| Eleanor Crook Foundation | 2017 | $155,000 |
| Eli And EdyBroad Foundation | 2011-2012, 2014-2016 | $1,505,000 |
| Ellen And Alan Levin Family Foundation | 2016 | $10,000 |
| Emil Kirchheimer Trust | 2014 | $25,000 |
| Energy Foundation | 2010-2012, 2013-2017 | $623,000 |
| Enlyst Fund Inc. | 2016-2017 | $30,000 |
| Entertainment Industry Foundation | 2011, 2013 | $92,1628 |
| Eos Foundation | 2011 | $10,000 |
| Eric And Wendy Schmidt Fund For Strategic Innovation | 2016 | $50,000 |
| Erickson Family Charitable Foundation | 2015 | $8,000 |
| Ettinger Foundation Inc. | 2015, 2017 | $25,000 |
| Everett B. Birch Foundation | 2016-2017 | $400,000 |
| Ewing Marion Kauffman Foundation | 2017 | $20,000 |
| Family Alliance Foundation | 2010-2012, 2014-2016 | $146,000 |
| Faro Foundation | 2015 | $25,000 |
| Farvue Foundation Inc. | 2011 | $5,000 |
| Fidelity Investments Charitable Gift Fund | 2012-2016 | $58,704,606 |
| Fine Fund | 2015-2017 | $15,000 |
| Fink Family Foundation | 2012-2013, 2015-2017 | $650,000 |
| Flora Family Foundation | 2013 | $12,500 |
| Ford Foundation | 2009, 2012-2017 | $44,484,310 |
| Foundation For A Just Society | 2013-2014 | $310,000 |
| Foundation For Aids Research | 2017 | $500,000 |
| Foundation To Promote Open Society | 2009, 2013-2016 | $4,092,000 |
| Frances Lear Foundation | 2014-2015 | $40,000 |
| Frederick Henry PrInce Testamentary Trust | 2015-2017 | $32,000 |
| Fullerton Family Foundation | 2017 | $5,000 |
| Gaia Fund | 2015-2017 | $16,000 |
| Gates Family Foundation | 2016-2017 | $120,000 |
| Gaylord And Dorothy Donnelley Foundation | 2012, 2014 | $160,000 |
| General Mills Foundation | 2017 | $50,000 |
| General Service Foundation | 2012, 2014-2016 | $725,000 |
| George Gund Foundation | 2017 | $200,000 |
| George Kaiser Family Foundation | 2015 | $25,000 |
| George Lucas Family Foundation | 2015-2016 | $10,000 |
| Gerald B Cramer Family Foundation Inc. | 2013 | $5,000 |
| GHR Foundation | 2012-2015 | $2,127,297 |
| Gilbert And Jacki Cisneros Foundation | 2016 | $30,000 |
| Gill Foundation | 2015 | $1,490,000 |
| Globalgiving Foundation Inc. | 2016 | $5,179 |
| Gold Bay Foundation | 2017 | $100,000 |
| Gordon E And Betty I Moore Foundation | 2012-2017 | $61,351,104 |
| Gordon Family Foundation | 2010 | $50,000 |
| Grand Victoria Foundation | 2016 | $300,000 |
| Gray Cary Foundation | 2015 | $50,000 |
| Greater Kansas City Community Foundation | 2013, 2016 | $40,000 |
| Greenbaum Foundation | 2015 | $60,000 |
| Grove Foundation | 2012, 2014-2017 | $325,000 |
| Growald Family Fund Inc. | 2017 | $70,000 |
| Gruber Family Foundation | 2015 | $5,000 |
| Harlan E Anderson Foundation | 2016 | $30,000 |
| Harrington Foundation | 2017 | $7,500 |
| Harry J Brown Jr. Foundation Inc. | 2014 | $75,000 |
| Hauptman Family Foundation Inc. | 2011 | $10,000 |
| Hawley Family Foundation | 2014 | $25,000 |
| Head Foundation | 2011 | $10,000 |
| Heising-Simons Foundation | 2014, 2016-2017 | $2,385,000 |
| Helen Clay Frick Foundation-Tr | 2017 | $20,000 |
| Helmerich Trust | 2015 | $25,000 |
| Henry J. Kaiser Family Foundation | 2015 | $30,000 |
| Henry P. Kendall Foundation | 2015 | $10,000 |
| Herb Block Foundation | 2011, 2014-2015 | $45,000 |
| Hillsdale Fund Inc. | 2015-2017 | $17,000 |
| Hispanic Federation Inc. | 2017 | $60,000 |
| Hodge Foundation Inc. | 2010 | $10,000 |
| Howard and Geraldine Polinger Family Foundation | 2016 | $4,000 |
| Howard G. Buffett Foundation | 2009, 2010-2017 | $15,404,196 |
| Hull Family Foundation | 2014-2016 | $170,000 |
| Humanity United | 2017 | $500,000 |
| Hunt Alternatives | 2015 | $10,000 |
| Hyams Foundation Inc. | 2015-2017 | $150,000 |
| International Paper Company Foundation | 2009 | $5,000 |
| Irving Harris Foundation | 2008, 2011-2012, 2014-2015 | $603,450 |
| Isabel Rose Foundation | 2010 | $30,000 |
| Island Foundation Inc. | 2014 | $10,000 |
| J. R. Albert Foundation | 2012, 2014-2017 | $195,000 |
| James & Rebecca Morgan Family Foundation | 2013, 2016-2017 | $508,000 |
| James Irvine Foundation | 2017 | $100,000 |
| Jennifer And Jonathan Allan Soros Foundation | 2014-2016 | $121,938 |
| Jessie Smith Noyes Foundation Inc. | 2015 | $7,500 |
| Jewish Communal Fund | 2014-2017 | $420,912 |
| Jewish Community Federation Of San Francisco The Peninsula, Marin And Sonoma | 2011, 2014, 2016-2017 | $80,000 |
| Joan And Lewis Platt Foundation | 2016 | $10,000 |
| John D & Catherine T Macarthur Foundation | 2011-2017 | $12,455,000 |
| John Merck Fund | 2008, 2012, 2014-2017 | $2,028,500 |
| John S. And James L. Knight Foundation | 2014, 2016-2017 | $485,000 |
| John Templeton Foundation | 2015, 2017 | $90,000 |
| Johnson Family Foundation | 2017 | $70,000 |
| Joyce Foundation | 2010-2013, 2015-2016 | $3,643,492 |
| JPB Foundation | 2013-2014, 2016-2017 | $5,100,000 |
| JPMorgan Chase Foundation | 2017 | $250,000 |
| Just Keep Livin Foundation | 2017 | $9,000 |
| Kalliopeia Foundation | 2015 | $20,000 |
| Kate Mcgrath & J. J. Abrams Family Foundation | 2013, 2015 | $108,925 |
| Kathryn B Mcquade Foundation | 2015 | $25,000 |
| Kathryn J. Dinardo Trust Fund | 2014 | $10,000 |
| Kavli Foundation | 2016 | $95,000 |
| Keith Campbell Foundation For Environment | 2013 | $22,000 |
| Kenbe Foundation | 2015-2016 | $125,000 |
| Kendeda Fund | 2014-2017 | $1,540,000 |
| Kl Felicitas Foundation | 2010-2011 | $62,400 |
| Klarman Family Foundation | 2015 | $2,200,000 |
| Kohlberg Foundation Inc. | 2008 | $60,000 |
| Koonce Family Foundation Trust | 2014-2017 | $21,250 |
| Kraft Foods Group Foundation | 2014 | $5,000 |
| Kresge Foundation | 2011-2013, 2015-2017 | $2,235,000 |
| Krl Foundation | 2016 | $10,000 |
| L R Bauman Foundation Inc. | 2017 | $123,600 |
| La Salle Adams Fund | 2014-2015 | $230,000 |
| Laird Norton Family Foundation | 2014 | $20,000 |
| Lalor Foundation Inc. | 2017 | $20,000 |
| Larry R Rogers Foundation | 2015 | $8,000 |
| Laura And John Arnold Foundation | 2016 | $165,000 |
| Lebowitz-Aberly Family Foundation | 2015-2016 | $10,000 |
| Leichtag Foundation | 2016-2017 | $13,000 |
| Lenfest Foundation Inc. | 2016 | $250,000 |
| Leo S. Guthman Fund | 2014 | $5,000 |
| Leon Levy Foundation | 2017 | $50,000 |
| Leona M. And Harry B. Helmsley Charitable Trust | 2013-2014, 2016-2017 | $6,207,593 |
| Leonard And Sophie Davis Fund | 2013, 2015-2016 | $845,000 |
| Leslie & Roslyn Goldstein Foundation | 2017 | $25,000 |
| Liberty Hill Foundation | 2015 | $25,000 |
| Liberty Prairie Foundation | 2015 | $10,000 |
| Lillian Goldman Charitable Trust | 2013 | $10,000 |
| Lillian Wren Foundation | 2016 | $100,000 |
| Limestone Foundation | 2016 | $35,000 |
| Linehan Family Foundation Inc. | 2016 | $100,000 |
| Lippman Kanfer Family Foundation | 2017 | $32,000 |
| Lisa And Douglas Goldman Fund | 2014, 2017 | $100,050 |
| Lisa And John Pritzker Family Fund | 2011 | $5,000 |
| Loughridge-Williams Foundation | 2012 | $10,000 |
| Louis and Anne Abrons Foundation Inc. | 2014 | $100,000 |
| Lumina Foundation For Education Inc. | 2012-2014 | $500,000 |
| Lumpkin Family Foundation | 2011-2012, 2014-2016 | $200,000 |
| Lutron Foundation | 2016-2017 | $30,000 |
| Mai Family Foundation | 2009 | $200,000 |
| Marguerite Casey Foundation | 2015-2016 | $250,000 |
| Marin Community Foundation | 2013 | $25,000 |
| Marisla Foundation | 2012-2014, 2016 | $755,000 |
| Mary H. Storer Foundation | 2016-2017 | $25,000 |
| Mary Wohlford Foundation | 2015-2016 | $102,500 |
| McKnight Foundation | 2013-2106 | $127,6000 |
| Mead Family Foundation | 2008 | $5,000 |
| Meehan Foundation | 2016 | $35,000 |
| Melampy-Lawrence Charitable Trust | 2017 | $80,000 |
| Menemsha Family Fund | 2010 | $25,000 |
| Meyer Memorial Trust | 2012 | $50,000 |
| Miami Foundation | 2015 | $25,000 |
| Michael And Jill Stansky Family Foundation | 2016 | $25,000 |
| Michael And Susan Dell Foundation | 2016 | $333,333 |
| Michael Reese Health Trust | 2014-2016 | $16,0000 |
| Minneapolis Foundation | 2015-2017 | $89,500 |
| Mississippi Common Fund Trust | 2015 | $2,100,000 |
| MKM Foundation | 2011-2012 | $100,000 |
| Moore Charitable Foundation Inc. | 2016 | $4,800 |
| Moriah Fund Inc. | 2012, 2014 | $290,000 |
| Morningstar Foundation | 2013 ,2015-2016 | $135,000 |
| Movado Childrens Foundation | 2016 | $12,975 |
| Ms Foundation For Women Inc. | 2016-2017 | $20,000 |
| Musk Foundation | 2014-2015 | $250,000 |
| Myers Family Foundation Inc. | 2011 | $10,000 |
| Nancy & Miles Rubin Foundation | 2016 | $15,000 |
| Naomi And Nehemiah Cohen Foundation | 2014-2016 | $70,000 |
| Natembea Foundation Inc. | 2010, 2012 | $32,320 |
| National Fish And Wildlife Foundation | 2015-2016 | $60,000 |
| National Park Foundation | 2013 | $25,000 |
| National Philanthropic Trust | 2011-2012, 2016 | $335,000 |
| Nature Conservancy | 2013 | $197,500 |
| NEA Foundation for Improvement Of Education | 2017 | $117,500 |
| Nellie Mae Education Foundation Inc. | 2013 | $50,000 |
| Neubauer Foundation | 2015-2017 | $2,550,000 |
| New Hampshire Charitable Foundation | 2016-2017 | $95,000 |
| New Profit Inc. | 2017 | $200,000 |
| New Visions Foundation | 2015-2016 | $24,000 |
| New World Foundation | 2015 | $50,000 |
| New York Community Trust | 2014 | $7,500 |
| New-Land Foundation Inc. | 2009, 2015 | $50,000 |
| Newman's Own Foundation | 2016-2017 | $160,000 |
| Newschools Venture Fund | 2015 | $2,75,000 |
| Nia Community Foundation | 2016-2017 | $10,000 |
| Nike Foundation | 2011, 2015-2016 | $1,461,000 |
| Novo Foundation | 2014-2016 | $6,593,000 |
| Oak Foundation USA | 2012-2017 | $3,245,344 |
| Odysseyre Foundation | 2011 | $162,300 |
| One8 Foundation | 2015 | $840,500 |
| Open Door Foundation | 2014 | $20,000 |
| Orlebeke Foundation | 2017 | $100,000 |
| Orr Family Foundation | 2011-2012 | $105,298 |
| Osprey Foundation Inc. | 2012, 2014-2015 | $651,520 |
| Overbrook Foundation | 2015 | $50,000 |
| Overdeck Family Foundation, Inc. | 2015-2016 | $625,000 |
| Park Foundation Inc. | 2013-2014 | $205,000 |
| Parsons Family Foundation | 2016 | $6,000 |
| Passport Foundation | 2015-2016 | $375,000 |
| Patagonia Org | 2014-2015 | $80,000 |
| Paul And Joanne Egerman Family Charitable Foundation | 2016 | $25,000 |
| Paul G Allen Family Foundation | 2010 | $125,000 |
| Peninsula Community Foundation Of Virginia Inc. | 2012 | $15,000 |
| Pepsico Foundation Inc. | 2016 | $50,000 |
| Perelman Family Foundation Inc. | 2015 | $750,000 |
| Pershing Square Foundation | 2016 | $5,250,000 |
| Peterffy Foundation | 2016-2017 | $45,000 |
| Pew Charitable Trusts | 2015 | $115,486 |
| Philanthropic Ventures Foundation | 2014, 2016 | $70,000 |
| Philip D & Tammy S Murphy Foundation | 2012 | $10,000 |
| Pisces Foundation | 2015-2017 | $718,100 |
| Porphyry Road Foundation | 2014, 2016-2017 | $30,000 |
| Ppl Foundation | 2016-2017 | $515,500 |
| Pritzker Traubert Foundation | 2016 | $47,500 |
| Proteus Fund Inc. | 2016-2017 | $467,500 |
| Public Welfare Foundation Inc. | 2012-2016 | $4,417,000 |
| Quixote Foundation Inc. | 2011-2012, 2014-2016 | $527,500 |
| Raikes Foundation | 2015-2017 | $929,000 |
| Rasmuson Foundation | 2013-2014 | $10,000 |
| Rauch Foundation Inc. | 2014-2016 | $15,500 |
| Ray And Dagmar Dolby Family Fund | 2016 | $50,000 |
| Recanati-Kaplan Foundation | 2012 | $10,000 |
| Renker Family Foundation | 2017 | $50,000 |
| Research Corporation | 2015-2016 | $132,500 |
| Richard And Hinda Rosenthal Foundation | 2010 | $5,000 |
| Richard Meier Foundation | 2016 | $5,000 |
| Richard W Goldman Family Foundation | 2014, 2016 | $985,000 |
| Richard W Hotes Foundation | 2015 | $210,000 |
| Rider-Pool Foundation | 2014-2017 | $185,000 |
| Rita Allen Foundation | 2016 | $50,000 |
| Robert W Deutsch Foundation | 2013-2017 | $535,000 |
| Robert Wood Johnson Foundation | 2015-2017 | $11,483,777 |
| Robin Hood Foundation | 2016 | $450,000 |
| Rochester Area Community Foundation | 2017 | $5,000 |
| Rockefeller Brothers Fund Inc. | 2007-2008, 2010-2013, 2015-2016 | $4,009,122 |
| Rockefeller Family Fund Inc. | 2007, 2010-2011 | $155,100 |
| Rockefeller Foundation | 2011-2012, 2014-2017 | $5903,178 |
| Rockefeller Philanthropy Advisors Inc. | 2009-2012, 2014-2017 | $961,116 |
| Ronald W Burkle Foundation | 2014 | $22,622 |
| Rose Foundation For Communities And The Environment | 2014 | $25,000 |
| Rosenberg Foundation | 2017 | $200,000 |
| Rosenthal Family Foundation | 2014, 2016 | $100,000 |
| Rotonda Foundation | 2015 | $5,000 |
| Rudolf Steiner Foundation Inc. | 2013-2015 | $470,000 |
| Russell Family Foundation | 2014 | $10,000 |
| S Kent Rockwell Foundation Inc. | 2017 | $5,000 |
| S. D. Bechtel Jr. Foundation | 2014-2017 | $1,615,000 |
| Samuel J & Ethel Lefrak Charitable Trust | 2015 | $10,000 |
| Samuel S Fels Fund | 2016 | $25,000 |
| San Diego Foundation | 2015 | $25,000 |
| San Francisco Foundation | 2011, 2014-2016 | $146,500 |
| Sandy River Charitable Foundation | 2013-2017 | $25,500 |
| Santa Barbara Foundation | 2017 | $128,200 |
| Sara & Evan Williams Foundation | 2014 | $125,000 |
| Sara Blakely Foundation Inc. | 2015 | $150,000 |
| Satter Foundation | 2011-2013, 2015-2016 | $2,600,000 |
| Scherman Foundation Inc. | 2016 | $50,000 |
| Schmidt Family Foundation | 2012, 2014-2016 | $322,250 |
| Schooner Foundation | 2010 | $35,000 |
| Schwab Charitable Fund | 2011-2014, 2016-2017 | $5,463,885 |
| Scott W Fitzmorris Trust 12052012 - The Swf Immersion Foundation | 2017 | $80,000 |
| Sean N Parker Foundation | 2013, 2015, 2017 | $7,500,000 |
| Seattle Foundation | 2010, 2014-2017 | $155,640 |
| Seed Fund Grants Inc. | 2017 | $15,000 |
| Shachar Foundation Trust | 2015-2017 | $35,000 |
| Shell Oil Company Foundation | 2016 | $9,561 |
| Shelley & Donald Rubin Foundation Inc. | 2014 | $10,000 |
| Shurl And Kay Curci Foundation | 2018 | $50,000 |
| Sidney A Swensrud Foundation | 2014, 2016 | $350,000 |
| Sierra Club | 2009, 2016 | $34,500 |
| Sierra Health Foundation | 2016 | $25,000 |
| Silicon Valley Community Foundation | 2010-2011, 2014-2017 | $16,560,015 |
| Simons Foundation Inc. | 2013, 2015 | $705,000 |
| Sister Fund Inc. | 2014, 2016 | $20,000 |
| Skillman Foundation | 2015 | $50,000 |
| Skoll Fund | 2014, 2016-2017 | $21,000,000 |
| Skoll Global Threats Fund | 2015-2016 | $625,000 |
| Sorenson Impact Foundation | 2017 | $50,000 |
| Southern Company Charitable Foundation Inc. | 2015 | $100,000 |
| Southern Education Foundation Inc. | 2014-2015, 2017 | $225,000 |
| Spencer Foundation | 2011, 2016 | $65,000 |
| Start Something That Matters Foundation | 2015-2016 | $375,000 |
| Stephen Case Foundation | 2014 | $25,000 |
| Stephen M Silberstein Foundation | 2015 | $100,000 |
| Steward Family Foundation | 2016 | $71,173 |
| Stuart Family Foundation | 2015-2016 | $22,000 |
| Summer Fund Ii | 2008, 2011-2012 | $40,000 |
| Sunlight Foundation | 2014 | $10,000 |
| Surdna Foundation Inc. | 2011-2013 | $1,462,302 |
| Susan Thompson Buffett Foundation | 2012-2017 | $49,268,657 |
| Susman Foundation | 2011 | $20,000 |
| Swift Foundation | 2012-2017 | $813,200 |
| Tecovas Foundation | 2013-2014 | $29,000 |
| Telluride Foundation | 2017 | $15,000 |
| Thalia & Michael C Carlos Foundation Inc. | 2016 | $50,000 |
| Thornburg Foundation | 2015-2016 | $12,668 |
| Tides Foundation | 2007-2008, 2010-2014, 2017 | $2,575,086 |
| Tiffany & Co. Foundation | 2013 | $100,000 |
| Tomkat Foundation | 2016 | $25,000 |
| Tow Foundation | 2014, 2017 | $130,000 |
| Town Creek Foundation Inc. | 2013-2016 | $107,500 |
| Trehan Family Foundation Inc. | 2011 | $10,000 |
| True North Foundation | 2012-2017 | $672,000 |
| Tulsa Community Foundation | 2015 | $75,000 |
| Turner Foundation Inc. | 2015 | $85,000 |
| Underdog Foundation | 2013 | $10,000 |
| United Way Of Greater St Louis Inc. | 2016-2017 | $198,608 |
| United Way Of The Greater Lehigh Valley | 2016-2017 | $49,239 |
| V Kann Rasmussen Foundation Inc. | 2016-2017 | $384,600 |
| Vanguard Charitable Endowment Program | 2010-2014 | $4,839,302 |
| Vatheuer Family Foundation Inc. | 2015, 2017 | $35,000 |
| Voya Foundation | 2014 | $50,000 |
| W. K. Kellogg Foundation | 2009-2017 | $32,111,025 |
| Wallace Alexander Gerbode Foundation | 2012-2014 | $75,000 |
| Wallace Foundation | 2015 | $100,000 |
| Wallace Global Fund Ii | 2013, 2015-2017 | $1,581,000 |
| Wallace H Coulter Foundation | 2016 | $155,000 |
| Wal-Mart Foundation Inc. | 2016 | $100,000 |
| Walter S Mander Foundation | 2012, 2014-2018 | $212,429 |
| Walton Family Foundation Inc. | 2012-2016 | $14,925,829 |
| Wege Foundation | 2015 | $5,000 |
| Weingart Foundation | 2017 | $10,000 |
| Wells Fargo Foundation | 2016-2017 | $200,000 |
| Wellsprings Philanthropic Fund Inc. | 2017 | $6,796,500 |
| Western Union Foundation | 2015 | $10,000 |
| Westwind Foundation | 2012-2017 | $726,250 |
| Wilburforce Foundation | 2007-2009, 2015-2016 | $295,000 |
| William & Flora Hewlett Foundation | 2007, 2009, 2011-2017 | $45,243,500 |
| William B Wiener Jr Foundation | 2012, 2016-2017 | $60,000 |
| William K Bowes Jr Foundation | 2016 | $150,000 |
| William Penn Foundation | 2010, 2012-2013, 2015 | $419,316 |
| Women Donors Network | 2014 | $9,000 |
| Woodbury Fund Inc. | 2007 | $5,000 |
| Woodcock Foundation | 2014-2017 | $790,000 |
| World Wide Technology Foundation | 2016-2017 | $100,000 |
| Wunderkinder Foundation | 2011 | $10,000 |
| Wyss Foundation | 2007-2009, 2010-2016 | $21,336,600 |
| Zarley Fam Foundation | 2007-2008, 2017 | $5,000 |
Grant Recipients
New Venture Fund reports providing grants for health and environmental issues on every populated continent on its 2015 IRS Form 990 tax filing. [18] Domestic recipients of New Venture Fund grants listed on the form include Educational Fund to Stop Gun Violence, Sierra Club Foundation, Environmental Defense Fund, Equality Virginia, and Feminist Majority Foundation. [19]
Contractor Fees
From 2007 to 2017, New Venture Fund reported contractor expenditures totaling $142,937,638. Of this, $68.2 million was paid to its management firm, Arabella Advisors. A list of all contractor, consulting, and management fees paid by the New Venture Fund between 2007 and 2017 is listed below. [20]
| New Venture Fund: Contractor Fees | Total (2007-2017) |
|---|---|
| Sum | $142,717,065 |
| Arabella Advisors | $68,220,330 |
| Tigercomm LLC | $2,20,573 |
| Purpose Campaigns LLC | $17,796,644 |
| Bullpen Integrated Marketing LLC | $11,915,145 |
| DCI Group AZ LLC | $8,325,682 |
| International Scholarship and Tuition SE | $6,896,527 |
| SKDKnickerbocker | $3,020,363 |
| Shepardson Stern & Kaminsky | $2,887,402 |
| GMMB Inc. | $2,773,957 |
| Hilltop Public Solutions | $2,499,822 |
| 270 Strategies Inc | $2,162,386 |
| Williamsworks | $1,851,281 |
| Home Front Communications | $1,816,689 |
| PBJS | $1,718,448 |
| Global Flight Relief | $1,516,838 |
| S&B Public Solutions LLC | $1,232,689 |
| STTEP International | $1,088,196 |
| Fair Elections Legal Network | $1,087,425 |
| Ional Media Research Plan and Placement | $997,787 |
| Group Inc. | $970,000 |
| Ridgeback USA | $659,998 |
| Turly Pictures | $638,729 |
| Parthenon Group | $605,000 |
| Tempus Jets | $586,248 |
| Global Health Strategies | $475,203 |
| Spitfire Strategies | $405,153 |
| Restone Strategy Group LLC | $400,000 |
| Ziemba Waid Public Affairs | $114,623 |
| Izaak Walton League of America Inc. | $54,500 |
Leadership
President
Lee Bodner serves as New Venture Fund’s president, after previously serving as managing director of Arabella Advisors. [21] He was founding executive director of ecoAmerica, a nonprofit focusing on educating the American public on conservation issues. While there, Bodner helped launch the American College and University Presidents’ Climate Commitment, which brought the climate change issue front and center in higher education. [22] The most recent IRS filing (Form 990) from 2017 for the New Venture Fund listed Bodner’s salary as $225,000.
Eric Kessler serves as chairman of the board of directors. He founded and serves as senior managing director of Arabella Advisors, a social venture firm working to increase the effectiveness of philanthropy that works in conjunction with New Venture Fund. [23] Kessler helped manage conservation issues around the globe for the Clinton administration. [24] Kessler served as founding president of the NVF from 2006 to 2015. [25]
Board of Directors
In 2017, the NVF’s board of directors consisted of board chair Eric Kessler; NVF president Lee Bodner; Arabella Advisors CFO Wilbur Priester; Arabella Advisors general counsel Andrew Schulz; Democratic Party political consultant Adam Eichberg; Katherine Miller; Daryn Dodson; Harry Drucker; Tom Gibian; and Yanique Gibian. [26]
Staff
The New Venture Fund’s highest-paid staffer in 2017 was Marc Kastner, project director of the Science Philanthropy Alliance (an NVF project). Kastner earned a salary of $530,540 in 2017. [27]
Documents
IRS Filings
The New Venture Fund’s 2017 IRS filing (Form 990) was acquired by the Capital Research Center in March 2019 and is available here.
The New Venture Fund’s 2016 IRS filing (Form 990) is available here.
Application for Tax Exemption
The New Venture Fund’s application for recognition of tax-exempt status under the IRS was filed in January 2007 and available here.