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Non-profit

Philanthropic Ventures Foundation

Website:

www.Venturesfoundation.org
Location:

Oakland, CA
Tax ID:

94-3136771
Tax-Exempt Status:

501(c)(3)

Budget (2020):

Revenue: $16,137,293
Expenses: $13,569,821
Assets: $31,645,319
Formation:

1991
Founder:

Bill Somerville

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The Philanthropic Ventures Foundation is a nonprofit based in Oakland, California that gives grants to support the arts, housing and the environment focused on the San Francisco Bay Area. 1

The foundation approves or denies grants within 48 hours of receiving the application. 2  Founder Bill Somerville said he likes to “clinch the deal” with a handshake. 3 Somerville told USA Today in 2014 “What we do is trust ‘em and fund ‘em.” 4

James Higa, executive director of Philanthropic Ventures Foundation, called the “inequality gap” the “defining issue of our generation.” 5

Grantmaking

Philanthropic Ventures Foundation has given $187.4 million in grants from 1991 to 2021. 6  The foundation set a record in 2021 with $16.7 million in grantmaking, bettering the previous high of $12.9 million in 2015. 7

In 2021, the foundation administered 46 donor advised funds. 8

The Philanthropic Ventures Foundation gave a $200,000 grant to the Facebook Community Fund. 9

The Philanthropic Ventures Foundation gave $1 million to Hate Is A Virus 10 nonprofit that mobilizes the Asian American Pacific Islander community “to stand up for our own community.” 11

Finances

Philanthropic Ventures Foundation had $16.1 million in total revenue in 2021 and $13.6 million in total expenses. 12

Donors to Philanthropic Ventures Foundation include the left-leaning grantmaker The California Endowment. 13 The San Francisco Foundation is also a donor and it makes grants mostly to left-of-center and liberal organizations. 14

The Heising-Simons Foundation is also a donor. 15 Liberal philanthropists Liz Simons and her husband Mark Heising lead the Heising-Simons Foundation 16 and both are major donors to the Democratic Party. 17 The Philanthropic Ventures Foundation received a $100,000 grant from the Heising-Simons Foundation for the “equitable leverage of workforce investments.” 18 The Heising-Simons Foundation stated that the inequities in society are due to “discriminatory polices and practices enacted and designed to preserve historical power structures.” 19

Leadership

Somerville is the founder of Philanthropic Ventures Foundation and has worked as its president since it was formed in 1991. 20

Moira Walsh is chair of the board of directors. 21 Walsh is an attorney who was most notably the managing attorney of the San Francisco City Attorney’s office. 22

U.S. Representative Jackie Speier (D-CA) is on the board of directors of Philanthropic Ventures Foundation. 23

James Higa is the executive director of Philanthropic Ventures Foundation. 24 Higa reported directly to Steve Jobs when he worked for Apple and NeXT and was a member of the original Macintosh team. 25

References

  1. Philanthropic Ventures Foundation. 2021 Annual Report. Accessed Oct. 20, 2022. https://www.venturesfoundation.org/wp-content/uploads/2022/03/annual-report-2021-5.pdf
  2. Philanthropic Ventures Foundation. About Us. Accessed Oct. 21, 2022. https://www.venturesfoundation.org/about-us/
  3. [1] Jon Swartz. “Prosperity, Poverty Nestle Together In Same Span Of Calif.”; USA Today. Nov. 6, 2014. Accessed Oct. 22, 2022.
  4. Jon Swartz. “Prosperity, Poverty Nestle Together In Same Span Of Calif.”; USA Today. Nov. 6, 2014. Accessed Oct. 22, 2022.
  5. About Me. James Higa. Accessed Oct. 21, 2022. https://about.me/jameshiga
  6. Philanthropic Ventures Foundation. 2021 Annual Report. Accessed Oct. 20, 2022. https://www.venturesfoundation.org/wp-content/uploads/2022/03/annual-report-2021-5.pdf
  7. Philanthropic Ventures Foundation. 2021 Annual Report. Accessed Oct. 20, 2022. https://www.venturesfoundation.org/wp-content/uploads/2022/03/annual-report-2021-5.pdf
  8. Philanthropic Ventures Foundation. 2021 Annual Report. Accessed Oct. 20, 2022. https://www.venturesfoundation.org/wp-content/uploads/2022/03/annual-report-2021-5.pdf
  9. Philanthropic Ventures Foundation. 2021 Annual Report. Accessed Oct. 20, 2022. https://www.venturesfoundation.org/wp-content/uploads/2022/03/annual-report-2021-5.pdf
  10. Philanthropic Ventures Foundation. 2021 Annual Report. Accessed Oct. 20, 2022. https://www.venturesfoundation.org/wp-content/uploads/2022/03/annual-report-2021-5.pdf
  11. Hate Is A Virus. Our Impact. Accessed Oct. 20, 2022. https://hateisavirus.org/our-impact
  12. Philanthropic Ventures Foundation. Form 990. 2020. Part I. Summary. Accessed Oct. 22, 2022. https://www.venturesfoundation.org/wp-content/uploads/2021/11/pvf-2020-return-public-disclosure-copy.pdf
  13. [1] Philanthropic Ventures Foundation. 2021 Annual Report. Accessed Oct. 20, 2022. https://www.venturesfoundation.org/wp-content/uploads/2022/03/annual-report-2021-5.pdf
  14. Heising-Simons Foundation. Search Our Grants And Awards. Accessed Oct. 24, 2022. https://www.hsfoundation.org/grants/search-our-grants/?keyword=EL+WIN&program=179&amount-min=&amount-max=&year-min=From&year-max=To
  15. Philanthropic Ventures Foundation. 2021 Annual Report. Accessed Oct. 20, 2022. https://www.venturesfoundation.org/wp-content/uploads/2022/03/annual-report-2021-5.pdf
  16. Heising-Simons Foundation. Programs. Accessed Oct. 18, 2020. https://www.hsfoundation.org/programs/
  17. Jon Swaine. Hilary Osborne. “Democratic Donor Built Up Vast $8bn Private Wealth Fund in Bermuda.” The Guardian. November 07, 2017. Accessed October 18, 2020. https://www.theguardian.com/news/2017/nov/07/democratic-donor-james-simons-private-wealth-fund-tax-haven-paradise-papers ^
  18. Heising-Simons Foundation. Search Our Grants And Awards. Accessed Oct. 24, 2022. https://www.hsfoundation.org/grants/search-our-grants/?keyword=EL+WIN&program=179&amount-min=&amount-max=&year-min=From&year-max=To
  19. Heising-Simons Foundation. Equity Framework. Accessed Oct. 24, 2022. https://www.hsfoundation.org/about/equity-framework/
  20. Bill Somerville. Linked In. Accessed Oct. 22, 2022. https://www.linkedin.com/in/billsomerville/
  21. Philanthropic Ventures Foundation. 2021 Annual Report. Accessed Oct. 20, 2022. https://www.venturesfoundation.org/wp-content/uploads/2022/03/annual-report-2021-5.pdf
  22. “Board of Directors.” Philanthropic Ventures Foundation. Philanthropic Ventures Foundation, March 8, 2022. https://www.venturesfoundation.org/board-of-directors-board-of-advisors/.
  23. “Board of Directors.” Philanthropic Ventures Foundation. Philanthropic Ventures Foundation, March 8, 2022. https://www.venturesfoundation.org/board-of-directors-board-of-advisors/.
  24. Philanthropic Ventures Foundation. Foundation Staff. Accessed Oct. 21, 2022. https://www.venturesfoundation.org/foundation-staff/#billsomerville
  25. About Me. James Higa. Accessed Oct. 21, 2022. https://about.me/jameshiga
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: August 1, 1991

    • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2020 Dec Form 990 $16,137,293 $13,569,821 $31,645,319 $858,505 N $15,249,587 $25,000 $304,354 $300,866
    2019 Dec Form 990 $14,426,011 $10,519,908 $26,415,593 $642,284 N $13,702,918 $0 $322,987 $296,358 PDF
    2018 Dec Form 990 $9,447,183 $10,403,805 $19,527,632 $281,059 Y $8,850,632 $0 $253,093 $216,634 PDF
    2017 Dec Form 990 $8,679,028 $10,580,170 $21,631,128 $572,382 N $8,264,889 $978 $196,107 $281,547 PDF
    2016 Dec Form 990 $11,264,424 $8,074,134 $22,082,543 $45,014 N $11,018,027 $1,429 $164,581 $156,736 PDF
    2015 Dec Form 990 $10,836,268 $13,437,240 $18,510,733 $78,356 N $8,994,814 $1,376 $220,575 $150,000 PDF
    2014 Dec Form 990 $12,298,855 $8,609,133 $23,373,360 $553,109 N $11,819,080 $3,599 $248,963 $150,000 PDF
    2013 Dec Form 990 $11,751,483 $11,578,660 $20,803,135 $1,687,656 N $11,172,074 $5,526 $251,112 $308,000 PDF
    2012 Dec Form 990 $13,873,983 $11,851,490 $18,853,463 $432,419 N $13,522,642 $2,386 $0 $278,623 PDF
    2011 Dec Form 990 $11,071,221 $8,517,326 $16,286,850 $106,419 N $10,886,161 $2,382 $155,574 $187,008 PDF

    Additional Filings (PDFs)

    Philanthropic Ventures Foundation


    Oakland, CA