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Non-profit

Zoma Foundation

Location:

Bentonville, AR
Tax ID:

81-4630003
Tax-Exempt Status:

501(c)(3)

Budget (2020):

Revenue: $19,208,599
Expenses: $22,709,964
Assets: $228,655,575
Type:

Private Grantmaking Foundation
Founded:

2016

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The Zoma Foundation is the private grantmaking foundation of Ben Walton and his wife Lucy Ana Walton. Ben Walton is a grandson of Sam Walton, the founder of Walmart.

The Zoma Foundation has a focus on programs such as mental health and early childhood development. The foundation also focuses on workforce training and community economic development. 1

In addition to making grants in Colorado, the foundation has a branch in Chile and funds programs there. Lucy Ana Walton is originally from Chile. 2

While most of the grants of the foundation are to noncontroversial programs, it has made grants to the left-of-center Energy Foundation and is increasingly focused on environmentalist programs. 3

The Zoma Foundation generated controversy in 2020 when it was revealed that the foundation had paid for a position in Colorado state government. Critics alleged that the use of private money to fund the position was a way for Colorado’s governor to avoid transparency and accountability from the state legislature. 4

Overview

The Zoma Foundation is a Bentonville, Arkansas-based foundation. It serves as the private grantmaking foundation of Ben Walton and his wife Lucy Ana. Ben Walton is a grandson to Walmart founder Sam Walton. 5

In 2016, the Zoma Foundation was seeded by $191 million in Walmart stock and $51 million in grants from the Walton Family Foundation, which at one time hosted a Ben and Lucy Ana Walton Fund. 6

Programs

A major focus of the foundation is early childhood development. The foundation makes more grants in that field than any other. In 2020, grants went to two Denver-based childhood development groups, Tennyson Center for Children ($500,000) and UCHealth’s Bright by Three program ($450,000). 7

During the COVID-19 epidemic, the Zoma Foundation made many grants related to combating the spread of the virus. Major COVID awards went to the SCL Health Foundation ($500,000), Denver Health Foundation ($500,000), University of Colorado Foundation ($365,000), and Mile High United Way ($355,000). 8

The foundation also awarded grants to help rural communities affected by the epidemic. In 2020, it partnered with Ben’s brother Sam Walton’s Catena Foundation and the Gates Family Foundation to create a $3 million rapid response fund focused on rural small businesses and nonprofits in Colorado that was hosted by the First Southwest Community Fund. In May 2021, the foundation joined with Philanthropy Colorado, Telluride Foundation, and the Denver Foundation to provide $1.5 million in unrestricted grants for rural communities affected by the pandemic. 9

The foundation also makes donations related to the environment. In 2017, it provided $1.5 million in seed funding for a 10,000 square foot water treatment research facility at the Colorado School of Mines. It has also awarded grants to the Energy Foundation, a left-of-center charitable foundation. The foundation is also backing the left-leaning The Nature Conservancy’s Enduring Earth initiative, which aims to preserve 30% of the planet by 2030. 10

Chile

The foundation has a Chilean arm called Fundacion Viento Sur, which translates to South Wind Foundation. Lucy Ana Walton is from Chile. The operation received $11 million in 2020 and overall has received more than 45% of all grant dollars awarded between the Zoma Foundation’s founding and 2020. 11

Funding Colorado Government

In 2020, the Associated Press reported that the Zoma Foundation had been funding positions in the Colorado state government. The Zoma Foundation donated $20,000 towards the funding of a coordinator for a two-generation economic security program. 12

Critics alleged that the donations were used to circumvent transparency requirements and to bypass the Colorado state legislature’s oversight of state spending. Critics further claimed that the donations also allowed the foundation to influence Colorado state policy. 13

Leadership

Ben Walton is the co-founder of the foundation. He is the grandson of Walmart founder Sam Walton. He holds a degree in environmental design with a focus in architecture from the University of Colorado. He also studied at Georgetown University. 14

Lucy Ana Walton is the other co-founder of the foundation. She is a child psychologist by profession and received her psychology degree from The Universidad del Desarrolo. 15

Finances

A copy of the 2020 tax return was provided to Inside Philanthropy. According to their reporting, the foundation made $21 million in grants in 2020. The foundation had $243 million in assets, but the foundation had sold another $318 million in Walmart stock. 16

References

  1. Kavate, Michael. “Here’s What We Know About A Walton Heir’s Zoma Foundation, A Big Backer Of Maternal Health.” Inside Philanthropy. June 23, 2022. https://www.insidephilanthro,py.com/home/2022/6/23/heres-what-we-know-about-a-walton-heirs-zoma-foundation-a-big-supporter-of-early-childhood.
  2. Kavate, Michael. “Here’s What We Know About A Walton Heir’s Zoma Foundation, A Big Backer Of Maternal Health.” Inside Philanthropy. June 23, 2022. https://www.insidephilanthropy.com/home/2022/6/23/heres-what-we-know-about-a-walton-heirs-zoma-foundation-a-big-supporter-of-early-childhood.
  3. Kavate, Michael. “Here’s What We Know About A Walton Heir’s Zoma Foundation, A Big Backer Of Maternal Health.” Inside Philanthropy. June 23, 2022. https://www.insidephilanthropy.com/home/2022/6/23/heres-what-we-know-about-a-walton-heirs-zoma-foundation-a-big-supporter-of-early-childhood.
  4. Frank, John. “Documents Show Polis Taking $1M In Donations For Top Jobs.” AP News. August 15, 2020. https://apnews.com/article/climate-colorado-jared-polis-steve-jobs-immigration-4d352b9bc8af4b5b23a137502b268946.
  5. “About ZOMALAB.” ZOMALAB. Accessed July 4, 2022. https://zomalab.com/about-zomalab/#our_team.
  6. Kavate, Michael. “Here’s What We Know About A Walton Heir’s Zoma Foundation, A Big Backer Of Maternal Health.” Inside Philanthropy. June 23, 2022. https://www.insidephilanthropy.com/home/2022/6/23/heres-what-we-know-about-a-walton-heirs-zoma-foundation-a-big-supporter-of-early-childhood.
  7. Kavate, Michael. “Here’s What We Know About A Walton Heir’s Zoma Foundation, A Big Backer Of Maternal Health.” Inside Philanthropy. June 23, 2022. https://www.insidephilanthropy.com/home/2022/6/23/heres-what-we-know-about-a-walton-heirs-zoma-foundation-a-big-supporter-of-early-childhood.
  8. Kavate, Michael. “Here’s What We Know About A Walton Heir’s Zoma Foundation, A Big Backer Of Maternal Health.” Inside Philanthropy. June 23, 2022. https://www.insidephilanthropy.com/home/2022/6/23/heres-what-we-know-about-a-walton-heirs-zoma-foundation-a-big-supporter-of-early-childhood.
  9.  Kavate, Michael. “Here’s What We Know About A Walton Heir’s Zoma Foundation, A Big Backer Of Maternal Health.” Inside Philanthropy. June 23, 2022. https://www.insidephilanthropy.com/home/2022/6/23/heres-what-we-know-about-a-walton-heirs-zoma-foundation-a-big-supporter-of-early-childhood.
  10. Kavate, Michael. “Here’s What We Know About A Walton Heir’s Zoma Foundation, A Big Backer Of Maternal Health.” Inside Philanthropy. June 23, 2022. https://www.insidephilanthropy.com/home/2022/6/23/heres-what-we-know-about-a-walton-heirs-zoma-foundation-a-big-supporter-of-early-childhood.
  11. Kavate, Michael. “Here’s What We Know About A Walton Heir’s Zoma Foundation, A Big Backer Of Maternal Health.” Inside Philanthropy. June 23, 2022. https://www.insidephilanthropy.com/home/2022/6/23/heres-what-we-know-about-a-walton-heirs-zoma-foundation-a-big-supporter-of-early-childhood.
  12. Frank, John. “Documents Show Polis Taking $1M In Donations For Top Jobs.” AP New. August 15, 2020. https://apnews.com/article/climate-colorado-jared-polis-steve-jobs-immigration-4d352b9bc8af4b5b23a137502b268946.
  13. Frank, John. “Documents Show Polis Taking $1M In Donations For Top Jobs.” AP New. August 15, 2020. https://apnews.com/article/climate-colorado-jared-polis-steve-jobs-immigration-4d352b9bc8af4b5b23a137502b268946.
  14. “About ZOMALAB.” ZOMALAB. Accessed July 4, 2022. https://zomalab.com/about-zomalab/#our_team.
  15. “About ZOMALAB.” ZOMALAB. Accessed July 4, 2022. https://zomalab.com/about-zomalab/#our_team.
  16. Kavate, Michael. “Here’s What We Know About A Walton Heir’s Zoma Foundation, A Big Backer Of Maternal Health.” Inside Philanthropy. June 23, 2022. https://www.insidephilanthropy.com/home/2022/6/23/heres-what-we-know-about-a-walton-heirs-zoma-foundation-a-big-supporter-of-early-childhood.
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: January 1, 2018

    • 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 $19,208,599 $22,709,964 $228,655,575 $271,971 $0 $0 $0 $0
    2019 Dec Form PF $7,034,685 $8,898,248 $231,884,969 $1 $0 $0 $0 $0 PDF

    Additional Filings (PDFs)

    Zoma Foundation

    P.O. Box 1860
    Bentonville, AR