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Non-profit

Zg Foundation

Location:

EAST HANOVER, NJ
Tax ID:

84-3845961
Tax-Exempt Status:

501(c)(3)-PF

Budget (2020):

Assets: $19,951,399
Type:

Private Foundation
Formation:

2021
Budget (2022):

Revenue: $44,172

Expenses: $1,233,163

Assets: $18,814,248 1

References

  1. Return of Organization Exempt from Income Tax (Form 990). ZG Foundation, Inc. 2022. Part I & 2. https://projects.propublica.org/nonprofits/organizations/843845961/202333189349105038/full
President:

Craig Harrison

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Zg Foundation is a left-of-center private foundation based in East Hanover, New Jersey. Its giving focuses on combatting climate change and other environmental challenges. Grantees are large organizations conducting dozens of projects in both the United States and abroad ostensibly to halt the progression of warming and to assist populations to adapt to changing climate conditions. 1 2

During 2022, it disbursed $1,080,000 in unrestricted funding to nine organizations. Grants ranged from $30,000 to $250,000. 3

Financial Management

All the foundation’s funding is derived from the investments it holds. 4 5

Most of its investments are handled by BBR Partners, a firm which describes itself as “a boutique wealth management firm” providing “highly customized investment strategies, meticulously bespoke advice and simplified complexity for a select group of wealthy families.” 6 The minimum investment to work with the firm is $30 million. It follows a portfolio strategy with emphasis on tax efficiency. 7

The foundation’s accountant is Marcum LLP. Marcum is ranked in the Top 20 of all US accounting and advisory firms. It offers services not only to businesses but to the nonprofit sector and to high-net-worth individuals. 8 Marcum advocates ESG investments, investments which align with a client’s core values, as long as they are consistent with a high return. 9

Zg Foundation’s address is “in care of” Marcum LLP. 10

Grantees

The foundation awarded an unrestricted $90,000 grant to EcoTrust. EcoTrust is a forest preservation nonprofit based in the Pacific Northwest. 11 12

Ecotrust, and its for-profit affiliate, Ecotrust Forest Management, reached a $4.4 million settlement in 2020 with the State of Oregon after the Oregon Department of Justice determined they had inflated the costs of two projects, one to reopen a sawmill and the other to purchase land. 13

Forest Trends, recipient of a $250,000 unrestricted grant, is active worldwide. 14 15 It is an alliance of global conservation organizations, international forest product firms, multilateral development banks, private investors, and major left-of-center philanthropic foundations. It champions creative finance as the key to forest preservation. 16

Left-of-center investigative journalist Chris Lang accuses Forest Trends of promoting the commodification of nature and of pursuing destructive policies targeted to maximizing returns for wealthy investors but which do little or nothing to conserve forests, benefit the public, or slow climate change. 17

Additional grantees include the Open Space Institute ($200,000), Women’s Earth and Climate Action Network (WECAN) ($35,000), Protect Our Winters (POW) ($50,000), and Project Drawdown. 18

To halt global warming, Project Drawdown ($125,000) advocates an end to fossil fuel use. It claims this can be achieved painlessly and at a reasonable cost through using “science to guide climate action.” 19

Leadership

Craig Harrison, Zg Foundation’s president, is the founder and CEO of C Technologies, Inc., a manufacturer of spectroscopy products used in biopharmaceutical manufacturing. 20 21

C Technologies was acquired by the life sciences company Repligen Corporation in 2019 22 for approximately $240 million: $192 million in cash and $48 million in Repligen common stock. 23

Repligen’s annual report notes that “Climate change, climate change-related regulation and sustainability concerns could adversely affect our businesses and the operations of our subsidiaries, and any actions we take or fail to take in response to such matters could damage our reputation.” 24

References

  1. Wendelbo, Morten. “Foundations Are Making Climate Change a Bigger Priority.” The Conversation, October 25, 2018. Accessed April 30, 2024. https://theconversation.com/foundations-are-making-climate-change-a-bigger-priority-104883
  2. Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon. “Zg Foundation Inc, Full Filing – Nonprofit Explorer.” ProPublica, May 9, 2013. Accessed April 30, 2024. https://projects.propublica.org/nonprofits/organizations/843845961/202333189349105038/full
  3. Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon. “Zg Foundation Inc, Full Filing – Nonprofit Explorer.” ProPublica, May 9, 2013. Accessed April 30, 2024. https://projects.propublica.org/nonprofits/organizations/843845961/202333189349105038/full
  4. “ZG Foundation | East Hanover, NJ | Cause IQ.” Accessed May 1, 2024. https://www.causeiq.com/organizations/zg-foundation,843845961/
  5. Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon. “Zg Foundation Inc, Full Filing – Nonprofit Explorer.” ProPublica, May 9, 2013. Accessed April 30, 2024. https://projects.propublica.org/nonprofits/organizations/843845961/202333189349105038/full
  6. BBR Partners. “Wealth Management Firm.” Accessed May 1, 2024. https://www.bbrpartners.com/
  7. Braverman, Beth. “BBR Partners Review.” Lending Tree, January 20, 2022. Accessed May 1, 2024. https://www.magnifymoney.com/investing/ria/bbr-partners/
  8. LLP, Marcum. “MARCUM LLP CLIMBS THE RANKS IN ANNUAL VAULT ACCOUNTING FIRM SURVEY.” Accessed May 1, 2024. https://www.prnewswire.com/news-releases/marcum-llp-climbs-the-ranks-in-annual-vault-accounting-firm-survey-301537739.html
  9. Marcum LLP. “ESG Investments: The Intersection of Mission, Risk, and Return,” February 23, 2024. Accessed May 1, 2024. https://www.marcumllp.com/insights/esg-investments-the-intersection-of-mission-risk-and-return
  10. Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon. “Zg Foundation Inc, Full Filing – Nonprofit Explorer.” ProPublica, May 9, 2013. Accessed April 30, 2024. https://projects.propublica.org/nonprofits/organizations/843845961/202333189349105038/full
  11. Ecotrust. “Ecotrust | Home.” Accessed May 1, 2024. https://ecotrust.org/
  12. Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon. “Zg Foundation Inc, Full Filing – Nonprofit Explorer.” ProPublica, May 9, 2013. Accessed April 30, 2024. https://projects.propublica.org/nonprofits/organizations/843845961/202333189349105038/full
  13. Jefferson Public Radio. “Oregon Reaches $4.4 Million Settlement With Environmental Nonprofit Ecotrust,” April 30, 2020. Accessed May 1, 2024. https://www.ijpr.org/business/2020-04-29/oregon-reaches-4-4-million-settlement-with-environmental-nonprofit-ecotrust
  14. Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon. “Zg Foundation Inc, Full Filing – Nonprofit Explorer.” ProPublica, May 9, 2013. Accessed April 30, 2024. https://projects.propublica.org/nonprofits/organizations/843845961/202333189349105038/full
  15. “Forest Trends.” Accessed May 1, 2024. https://www.forest-trends.org/
  16. “Skoll | Forest Trends Association.” Accessed May 2, 2024. https://skoll.org/organization/forest-trends-association/
  17. chrislang.org. “Chrislang.Org.” Accessed May 2, 2024. https://chrislang.org/
  18. Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon. “Zg Foundation Inc, Full Filing – Nonprofit Explorer.” ProPublica, May 9, 2013. Accessed April 30, 2024. https://projects.propublica.org/nonprofits/organizations/843845961/202333189349105038/full
  19. Gan, Tammy. “Best Sustainable Gifts in Asia – Green Is The New Black.” Accessed May 2, 2024. https://greenisthenewblack.com/project-drawdown/
  20. United States Securities and Exchange Commission. “Stock Purchase Agreement By and Among Repligen Corporation, C Technologies, Inc., and Craig Harrison.” April 25, 2019. Accessed May 2, 2024. https://www.sec.gov/Archives/edgar/data/730272/000119312519120904/d737524dex21.htm
  21. Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon. “Zg Foundation Inc – Form Form 990-PF for Period Ending Dec 2019 – Nonprofit Explorer.” ProPublica, May 9, 2013. Accessed May 2, 2024.  https://projects.propublica.org/nonprofits/display_990/843845961/05_2021_prefixes_84-90%2F843845961_201912_990PF_2021051118082486
  22. Yahoo Finance – Stock Market Live, Quotes, Business & Finance News.” Accessed May 2, 2024. https://finance.yahoo.com/sec-filing/RGEN/0000950170-22-001430_730272/
  23. Corporation, Repligen. “Repligen Corporation Announces Agreement to Acquire Process Analytics Innovator C Technologies and Reports Preliminary First Quarter 2019 Financial Results.” GlobeNewswire News Room, April 26, 2019. Accessed May 2, 2024. https://www.globenewswire.com/news-release/2019/04/26/1810480/24603/en/Repligen-Corporation-Announces-Agreement-to-Acquire-Process-Analytics-Innovator-C-Technologies-and-Reports-Preliminary-First-Quarter-2019-Financial-Results.html
  24. United States Securities and Exchange Commission. “Repligen Corporation Annual Report For the Fiscal Year Ended December 31, 2022.” Accessed May 2, 2024. https://www.sec.gov/Archives/edgar/data/730272/000095017023003793/rgen-20221231.htm
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: March 1, 2021

    • 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 PF $0 $0 $19,951,399 $1 $0 $0 $0 $0
    2019 Dec Form PF $0 $0 $9,305,805 $0 $0 $0 $0 $0 PDF

    Zg Foundation

    CO MLLP 100 EAGLE ROCK AVE 200
    EAST HANOVER, NJ 07936