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Non-profit

Telescope Fund

Website:

telescopefund.org/
Location:

Washington, DC
Tax ID:

86-2577635
Tax-Exempt Status:

501(c)(3)

Budget (2021):

Revenue: $150,000
Expenses: $6,348
Assets: $143,652
Type:

Grantmaking Foundation
Formation:

2021
President:

Leslie Payne
Budget (2022):

Revenue: $30,475,057

Expenses: $30,044,973

Assets: $2,367,892 1

References

  1. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Part I. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.

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The Telescope Fund is a left-of-center grantmaking fund that is associated with the New Venture Fund (NVF), which is managed by Arabella Advisors. 1 Telescope Fund was originally launched as a subsidiary of NVF in 2021 and was reclassified as a traditional charity in 2023 by the Internal Revenue Service (IRS). 2

In 2022, nearly all of Telescope Fund’s funding came from a $30 million grant from the Fidelity Investments Charitable Gift Fund. 3 That same year, Telescope Fund made $29,300,000 of grants to left-of-center organizations, 4 including grants of more than $1 million to One Arizona, Tides Center, New Florida Majority, Alliance for Youth Organizing, ProGeorgia, Blueprint North Carolina, Alabama Forward, NEO Philanthropy, and the Texas Freedom Network Education Fund. 5

History and Leadership

Telescope Fund launched in 2021 as a subsidiary of the left-of-center New Venture Fund (NVF), which is managed by Arabella Advisors, a left-of-center advisory and consulting company. In 2023, the Internal Revenue Service approved Telescope Fund’s request to be reclassified as a traditional charity so that donors could work directly with the organization. 6

Leslie Payne is the president of Telescope Fund. Previously, he was a senior director at Arabella Advisors. 7 8

Andrew Schulz is Telescope Fund’s general counsel. Previously, Schulz managed Arabella Advisors’ legal affairs, 9 was the general counsel of the left-of-center Hopewell Fund, and helped manage NVF. Prior to joining Arabella Advisors, he was the vice president of Foundation Source and worked at the Council on Foundations. 10 11

Activities and Funding

Telescope Fund is a left-of-center grantmaking fund that is associated with the New Venture Fund (NVF), which is managed by Arabella Advisors. 12

Telescope Fund originally operated under NVF but became its own nonprofit organization in 2023 to receive additional donations and financial support. Despite this change in status, Telescope Fund remains affiliated with NVF 13 and makes grants consistent with NVF’s missions and programs. 14 The fund is also associated with the left-of-center Postsecondary National Policy Institute. 15

Telescope Fund partners with left-of-center partners and donors to expand the group’s grantmaking opportunities. This includes a donor-advised fund to support state-based organizations, a donor-advised fund to support global land conservation, and a separate donor-advised fund to support far-left racial equity and diversity, equity, and inclusion (DEI) programs. 16 According to its founding documents, Arabella Advisors initially had the authority veto any prospective donor to the Telescope Fund that proposed a “risk” to the firm. Arabella also expected long-term partnerships with its largest donors to help Telescope Fund raise more than $200 million by 2025. 17

In 2022, Telescope Fund paid Arabella Advisors $462,500 for administrative operations and support services. Telescope Fund also paid House of Tigers $200,000 for consulting services in 2022. 18

Grantmaking

Telescope Fund primarily operates as a grantmaking organization. In 2022, the fund made $29,300,000 of grants to left-of-center organizations supporting issues including the critical race theory-influenced concept of social justice. 19

In 2022, Telescope Fund’s grants included $1,700,000 to One Arizona, $1,650,000 to Tides Center, $1,265,000 to New Florida Majority, $1,250,000 to Alliance for Youth Organizing, $1,200,000 to ProGeorgia, $1,150,000 to Blueprint North Carolina, $1,150,000 to Alabama Forward, $1,050,000 to NEO Philanthropy, $1,050,000 to Texas Freedom Network Education Fund, $850,000 to New Georgia Project, $800,000 to Ohio Organizing Collaborative, $750,000 to Foundation for the Mid South, $650,000 to Faith in Florida, $600,000 to Center for Civic Policy, $600,000 to Pennsylvania Voice, $600,000 to Promote the Vote Fund, $550,000 to Activate 48 Educate Fund, $550,000 to Arizona Center for Empowerment, $550,000 to Democracy North Carolina, $500,000 to Asian Americans Advancing Justice – Atlanta, $500,000 to the Texas Organizing Project Education Fund, $450,000 to Voice of the Experienced, $430,000 to Freedom Inc. 20

That same year, Telescope Fund made grants between $400,000 and $300,000 to Florida Rights Restoration Coalition, Forward Justice, Galeo Latino Community Development Fund, Georgia Latino Alliance for Human Rights, Law Forward, Make the Road States, Mississippi Votes, Mothering Justice, A. Phillip Randolph Institute, New Virginia Majority Education Fund, North Carolina Asian Americans Together, North Carolina Black Alliance, Ole Education Fund, One Voice, Progressive Leadership Alliance of Nevada, Public Allies, State Voices, TakeAction Minnesota, Voces de la Frontera, We Are Down Home, We the People Michigan, Women With a Vision, and others. 21

Funding

In 2022, Telescope Fund reported revenue of $30,475,057 and expenses of $30,044,973. This is a large increase from 2021, when the organization reported revenue of $150,000 and expenses of $143,652. 22

In 2022, Telescope Fund received $30,475,057 of grants. 23 Nearly all of its funding that year came from a $30,000,000 grant from the Fidelity Investments Charitable Gift Fund. 24 Telescope Fund also received a grant of $327,721 of grants from the left-of-center New Venture Fund (NVF) in 2022. 25

In 2021, Telescope Fund received a grant of $50,000 from NVF. 26

References

  1. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). Schedule A. 2022. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  2. Kerr, Andrew. “Left-Wing Behemoth Arabella Advisors Quietly Added a Seventh Group to Its Dark Money Web.” Washington Free Beacon. February 22, 2024. Accessed April 20, 2024. https://freebeacon.com/democrats/left-wing-behemoth-arabella-advisors-quietly-added-a-seventh-group-to-its-dark-money-web/.
  3. “Fidelity Investments Charitable Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2021. Schedule I. https://apps.irs.gov/pub/epostcard/cor/110303001_202206_990_2023060921417445.pdf.
  4. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Part III. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  5. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Schedule I. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  6. Kerr, Andrew. “Left-Wing Behemoth Arabella Advisors Quietly Added a Seventh Group to Its Dark Money Web.” Washington Free Beacon. February 22, 2024. Accessed April 20, 2024. https://freebeacon.com/democrats/left-wing-behemoth-arabella-advisors-quietly-added-a-seventh-group-to-its-dark-money-web/.
  7. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Part I. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  8. Kerr, Andrew. “Left-Wing Behemoth Arabella Advisors Quietly Added a Seventh Group to Its Dark Money Web.” Washington Free Beacon. February 22, 2024. Accessed April 20, 2024. https://freebeacon.com/democrats/left-wing-behemoth-arabella-advisors-quietly-added-a-seventh-group-to-its-dark-money-web/.
  9. Kerr, Andrew. “Left-Wing Behemoth Arabella Advisors Quietly Added a Seventh Group to Its Dark Money Web.” Washington Free Beacon. February 22, 2024. Accessed April 20, 2024. https://freebeacon.com/democrats/left-wing-behemoth-arabella-advisors-quietly-added-a-seventh-group-to-its-dark-money-web/.
  10. “Andrew Schultz.” Hopewell Fund. Accessed April 20, 2024. https://www.hopewellfund.org/andrew-schulz-full/
  11. “Andrew Schulz.” LinkedIn Profile. Accessed April 20, 2024. https://www.linkedin.com/in/andrew-schulz-534045b/.
  12. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). Schedule A. 2022. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  13. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). Schedule R. 2022. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  14. “Letter Requesting IRS Reclassification.” Arnold and Porter Law Firm. December 21, 2022. Accessed April 20, 2024. https://freebeacon.com/wp-content/uploads/2024/02/Telescope-Fund-Form-8940-reclassification-request-redacted-submitted-12.21.2022_public-disclosure.pdf.
  15. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Schedule R. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  16. “Letter Requesting IRS Reclassification.” Arnold and Porter Law Firm. December 21, 2022. Accessed April 20, 2024. https://freebeacon.com/wp-content/uploads/2024/02/Telescope-Fund-Form-8940-reclassification-request-redacted-submitted-12.21.2022_public-disclosure.pdf.
  17. Kerr, Andrew. “Left-Wing Behemoth Arabella Advisors Quietly Added a Seventh Group to Its Dark Money Web.” Washington Free Beacon. February 22, 2024. Accessed April 20, 2024. https://freebeacon.com/democrats/left-wing-behemoth-arabella-advisors-quietly-added-a-seventh-group-to-its-dark-money-web/.
  18. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Part VII. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  19. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Part III. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  20. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Schedule I. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  21. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Schedule I. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  22. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Part I. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  23. “Telescope Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Part I. https://projects.propublica.org/nonprofits/organizations/862577635/202313149349302361/full.
  24.  “Fidelity Investments Charitable Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2021. Schedule I. https://apps.irs.gov/pub/epostcard/cor/110303001_202206_990_2023060921417445.pdf.
  25. “New Venture Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2022. Schedule I. https://newventurefund.org/wp-content/uploads/2023/11/NVF-2022-Public-Disclosure-Copy-257292001.pdf.
  26. “New Venture Fund.” Return of Organization Exempt From Income Tax. (Form 990). 2021. Schedule I. https://newventurefund.org/wp-content/uploads/2022/11/NVF-2021-990-Public-Disclosure-Copy.pdf.
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: May 1, 2023

    • 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
    2021 Dec Form 990 $150,000 $6,348 $143,652 $0 N $150,000 $0 $0 $0

    Telescope Fund

    1050 Connecticut Avenue NW, Suite 500
    Washington, DC 20036-0000