2015 Project Redwood Financial Report

For the Ten Years ending 2015:Total Contributions: $1,926,732Total Grants: $1,589,495Non-Grant Expenses: $230,959

Summary of 2015 Fund Activity

Cycle Nine: 1/1/2015 through 12/31/2015

Opening Balance (1/1/2015) $186,762
Add - Revenue:
PRW Partner pledge contributions received at RPA (note 1) $29,104
PRW Partner pledge contributions received at Tides (note 2) $257,221
Total Contributions $286,325
Earnings (loss) on invested funds (RPA, note 3) $104
Total Revenue$286,429
Less - Disbursements:
Grants disbursed (note 4) $319,271
Program-related Expenses (note 5) $25,525
Administrative and Grantmaking Services (RPA & Tides, note 6) $13,565
Credit Card Donation Processing (RPA, C&P, note 7) $1,999
Total Disbursements $360,360
Ending Balance 12/31/2015$112,831
Less - Commitments:
Program-related (website, mailing, Karpen Consulting) $8,200
Grant commitments - Current year outstanding (note 8) $0
Total Commitments $8,200
Funds Available 12/31/2015 (note 9) $104,631

Notes on Financial Statements1 Contributions received through 9/30/2015 end of RPA fiscal sponsorship. (See below.)2 Contributions received on or after 10/1/2015 transition to Tides Foundation as fiscal sponsor.3 Contributed funds pooled and invested by RPA. Sum of monthly blended returns.4 Grant support provided for 1 project in Grant Cycle 8 and core support provided for Design for Extreme Affordability projects through RPA. Grant support provided for 12 projects in Cycle 9 provided through Tides Foundation.5 Software and mailings to classmates, annual meeting, and Karpen Consulting, LLC strategic planning engagement.6 Fiscal sponsorship functions, including contribution receipt & acknowledgement, accounting, vetting of grant applications.7 Through RPA through 9/30/15. Since 10/1/15 through Click & Pledge.8 All Cycle 9 grants were awarded during 2015.9 Tenth Grant Cycle is planned for Summer 2016.

Through September 30, 2015, Project Redwood was organized as a special project fund of Rockefeller Philanthropy Advisors (RPA). On October 1, 2015 PRW transitioned its fiscal sponsor relationship to Tides Foundation, through which PRW now operates as a Collective Action Fund of Tides. Effective October 1, 2015 all assets related to PRW previously held by RPA were transferred to Tides.