2023-11-15T17:52:49-08:00 2022-12-31 371420474 Fontanello Duffield & Otake LLP 44 Montgomery Street Suite 1305 San Francisco CA 94104 990 2022-01-01 030368814 Underdog Foundation UNDE 8027239919 PO Box 443 Island Pond VT 05846 David Berge President/Sec 2023-11-15 false David Berge 999009999 true Antonio Tellez Jr P01716904 4159830200 2 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z David Berge PO Box 443 Island Pond VT 05846 6873 false X underdogventures.com/underdog-foundation X 2001 VT The Underdog Foundation ("the Foundation") through its grant making, community investment, technical assistance and strategic partnerships provides mentoring and technical expertise to support non-profit organizations doing important work in our communities. 5 4 2 4 0 0 0 4165 3416 3457 4165 6873 27500 7500 0 170985 166857 0 0 63624 69324 262109 243681 -257944 -236808 2949871 459402 400 295 2949471 459107 The Underdog Foundation ("the Foundation") works to meet community and environmental needs the cannot be met through simple investments. The interest areas of the Foundation are:- Environment and Conservation- Community Investment- Women's Entrepreneurship- International Community Investment and Community Development.The Foundation achieves its mission through grantmaking, community investments, technical assistance and strategic not-for-profit partnerships. false false 208255 7500 The Underdog Foundation's program in 2022 was to provide technical assistance, grants, mentoring and community investments in order to further our charitable mission, all of which is consistent with that of our supported organization. This community development, job creation, strategic partnership and impact/community investment work was the program for 2022. 208255 true false false false false true false false false false true true false false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false true false false false true 2 0 true 2 true false false false false false false false 0 false false false false false false false X 5 4 false false false false false true false true false false false false true true true false false true false false X David Berge 8027239919 PO Box 443 Island Pond VT 05846 David Berge President/Sec 32.00 0.00 X X 135000 0 0 Alisa Gravitz Chairman 0.60 0.00 X X 0 0 0 Drummond Pike Director 0.60 0.00 X 0 0 0 Joel Solomon Director 0.60 0.00 X 0 0 0 Lauri Thompson Treasurer 0.60 0.00 X X 0 0 0 135000 1 false false false 0 0 0 3416 3416 0 0 0 0 0 0 0 Refund of Expense 3457 3457 3457 6873 3457 3416 7500 7500 0 0 0 135000 114750 20250 0 4588 3900 688 0 16590 14102 2488 10679 9077 1602 0 2616 2224 392 7259 6170 1089 0 0 0 325 276 49 0 3028 2574 454 7679 6527 1152 0 8150 6928 1222 20476 17405 3071 0 0 0 0 0 454 386 68 State Taxes 6681 5679 1002 Education 6265 5325 940 Membership Dues 5253 4465 788 Filing Fees 466 396 70 672 571 101 243681 208255 35426 0 50297 22720 321527 112191 0 0 0 0 0 0 0 2987 2987 0 0 2568029 314473 0 0 10018 10018 2949871 459402 400 295 400 295 X 2949471 459107 2949471 459107 2949871 459402 -236808 -2253556 X false false false X X 1 Tides Foundation 510198509 7 true 0 0 1 0 true false false false false false false false false true true false false false false true true true X true true Part IV, Section A, Line 9b: Disqualified Persons Holding Controlling Interest In Same Entity As Sup David Berge, President, served as the managing member of Underdog Ventures LLC, and Underdog Foundation has an interest in Underdog Ventures LLC. Part IV, Section A, Line 9c: Disqualified Persons Ownership Interest In Assets Of Same Entity As Sup David Berge, President, served as the managing member of Underdog Ventures LLC. Underdog Foundation has an ownership interest, through contributed securities, in Underdog Ventures LLC. Part IV, Section D, Line 3: Role The Organization's Supported Orgs. Played A Tides Foundation appointed member participated as an active Board member in discussing the financials and participating in financial and investment decisions. The CEO of the Underdog Foundation met to discuss strategy and collaboration with Peter Martin, the Executive Director of the Tides Foundation. We discussed the strategy and priorities of both organizations, along with thoughts about how the Underdog Foundation could be most helpful to the Tides Foundation.That meeting included conversation and feedback about the focus and priorities of the Underdog Foundation, along with thoughts by the Tides Foundation about where there are opportunities for support. Peter noted their focus on marginalized and under-served communities, and on how they are developing deeper landscape assessments and investment recommendations. Tides wants to help people think about the impact they want to achieve and then what is needed. We noted the work of a group we are in conversation with, working with small farmholders and creating social impact carbon protection. The CEO of the Underdog Foundation highlighted some ways in which the Tides Foundation and Underdog Foundation have worked together historically and got feedback from Tides about the Underdog Foundations current work (impact investing and advice and community investing and in helping increase the charitable impact of wealthy families). We talked about upcoming projects including a group we have been helping which is targeting placing 100 Women of Color into C-suites and boards over a three year period.Peter noted the challenges of the supporting org structure and we committed to a follow-up meeting on that topic for 2023. Part IV, Section E, Line 2a: Identify Supported Orgs. and Explain How Activities Furthered Exempt Pu As a functionally integrated Type III supporting organization, we understand that our support of the Tides Foundation is important, and substantially all the programs of the Underdog Foundation support the mission of the Tides Foundation. The impact investments, grants, and more importantly the advice provided by the Underdog Foundation builds the infrastructure, increases the social, environmental and financial impact, and readies these non-profits for grants and investments. Part IV, Section E, Line 2b: Reasons For The Organization's Position But for the work of the Underdog Foundation, the Tides Foundation would have to increase its social change work in those areas. The work and leadership of the Underdog Foundation in advocating more wealthy impact investors direct money to social justice and community development intermediaries and social ventures, and in creating effective deal structures and organizations in those areas means that the Tides Foundation can focus even more on investments and grants by Tides and its donors into organizations with high impact and strong structures. Our work with mission-related entrepreneurs who donate parts of their companies early in the companys life helps to create a next generation of donors and potential DAF-holders. Over the last several years, the importance of impact investing, social ventures and socially responsible investing have really increased at the Tides Foundation. Given the special expertise of the Underdog Foundation on capital structure, deal structure, fund structure and community investing, we hope that creates opportunities for increasing collaboration with the Tides Foundation. Our Underdog Foundation Impact Award Program provides free advice to asset owners, intermediaries and entrepreneurs. Through this program, we identify high impact (social and environmental) intermediaries, impact investors and social enterprises/social ventures. We look for those ready to evolve, capable of taking advice and increasing impact, and provide them with deep advice on financial and capital structures, negotiations, strategy and operations. Some of the groups we have chosen as winners do work supported by the Tides Foundation. One winner (New Media Ventures) is a grantmaking partner of the Tides Foundation. Another example is our work with entrepreneurs who gift a part of their companys equity to support philanthropic work. We help those companies to increase their charitable impact. For example, AltruShare Securities, a brokerage firm founded to support community investing, with our assistance, donated 1/3 of their equity to the Tides Foundation to support diverse entrepreneurship and 1/3 to the Underdog Foundation to support community investing. This resulted in distributions to Tides and the Underdog Foundation of $970,000 of cash during the life of the company and provided an example for other companies.The work done by the Underdog Foundation to relentlessly build the infrastructure of intermediaries (community investment groups and CDFIs) will push more lending and investment into low-income communities. Our work helps make those groups investment and grant-ready by the Tides Foundation and its DAF holders. Both the Tides Foundation and the Underdog Foundation are committed to getting wealthy families and institutions move more of their assets and investments to be consistent with their charitable mission. 6 7500 301904 true true 2987 2987 314473 true Fractured Atlas PO Box 55 Hartsdale NY 10530 113451703 501(c)(3) 7000 0 Program Support 1 0 Additional Supplemental Information The Foundation monitors whether grant funds are spent according to the intended purpose by requiring and reviewing the respective grantee's financial and outcome reports. Form 990, Part VI, Section B, Line 11b The President reviews the Form 990 prior to filing. The Board discusses tax and financial issues during board meetings and receives completed tax filings. Form 990, Part VI, Section B, Line 12c The Organization continually monitors compliance with the conflict of interest policy, and the Board is conscientious about conflict issues. Form 990, Part VI, Section B, Line 15a Board reviewed compensation arrangement, per the market for compensation, and legal counsel was also sought. Form 990, Part VI, Section C, Line 19 The Organization makes available to the public, upon request, governing documents, conflict of interest policy and financial statements. Additional Information - Schedule D Part VII Holdings in Underdog Ventures, LLC, RSF Social Investment Fund, Impact Makers, and r. Cup, LLC are related to the charitable mission of Underdog Foundation and are not UBTI transactions. Tides Foundation 1014 Torney Avenue San Francisco CA 94129 510198509 Philanthropy and Social Change CA 501(c)(3) Line 7 NA false false false false false false false false false false false false false false false false false false false false