2025-11-14T16:46:59-08:00 2024-12-31 371420474 Fontanello Duffield & Otake LLP 111 Pine Street Suite 1750 San Francisco CA 94111 990 2024-01-01 030368814 Underdog Foundation UNDE 8027239919 PO Box 443 Island Pond VT 05846 David Berge President/Sec 2025-11-14 true true Antonio Tellez Jr P01716904 4159830200 2024 2025-03-06 01:10:19Z David Berge PO Box 443 Island Pond VT 05846 95753 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 5 2 5 0 90000 0 2949 403 5350 2949 95753 20000 1000 0 27915 8427 0 0 59033 77326 106948 86753 -103999 9000 350403 359403 295 295 350108 359108 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 73893 1000 The Underdog Foundation's program in 2024 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 2024. 73893 true true false true false true false false false false true true false false false false false false false false false false false false false false false false 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 5 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 X David Berge President/Sec 40.00 0.00 X X 0 0 0 Alisa Gravitz Chairman 0.30 0.00 X X 0 0 0 Drummond Pike Director 0.30 0.00 X 0 0 0 Joel Solomon Director 0.30 0.00 X 0 0 0 Lauri Thompson Treasurer 0.30 0.00 X X 0 0 0 0 false false false 0 90000 90000 0 403 403 0 0 0 0 0 0 0 Other Revenue 5350 5350 5350 95753 5350 403 1000 1000 0 0 0 0 0 2783 2366 417 0 3568 3033 535 2076 1765 311 0 7326 6227 1099 7543 6412 1131 0 0 0 740 629 111 0 802 682 120 0 0 6136 5216 920 15515 13188 2327 0 0 0 0 0 161 137 24 Write-Off of Investment 25188 21410 3778 Telecom & Internet 5784 4916 868 Education 5512 4685 827 Membership Dues 1449 1232 217 1170 995 175 86753 73893 12860 0 71879 50799 129051 184279 0 0 0 0 0 0 0 2987 2987 0 0 139473 114325 0 0 10000 10000 350403 359403 295 295 295 295 X 350108 359108 350108 359108 350403 359403 9000 X false false false X X 1 Tides Foundation 510198509 7 false 0 0 1 0 true false false false false false false false false false false false false false false true true true X true true Part IV, Section D, Line 3: Role The Organization's Supported Orgs. Played The Underdog Foundation is responsive to the needs of the Tides Foundation. We have a 24 year supporting relationship. The Tides Foundation has the right to choose (and has) one Underdog Foundation board member. The Tides representative board member represents the Tides Foundation and participates in conversations regarding finance, strategy and priorities, and sees Underdog Foundation investments, programs and grants. Currently, a former Tides Foundation board member also sits on the Underdog Foundation board. There are a total of five board members.The CEO of the Underdog Foundation has met with several CEOs and senior staff members of the Tides Foundation over the years, looking at ways to collaborate, innovate and support. During our meetings we discuss priorities, programs and go-forward strategies. In our meeting we highlight ways in which the Tides Foundation and Underdog Foundation have worked together and get feedback from Tides about the Underdog Foundations current work (impact investing and advice and community investing and in helping increase the charitable impact in underserved communities. 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 and capacity building provided by the Underdog Foundation builds the infrastructure, increases the social, environmental and financial impact, and readies these non-profits for grants and investments. 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 poverty alleviation and community development, to intermediaries and under-served communities, and in creating effective deal and fund structures and organizations is 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 investing consistent with charitable purposes have 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. The Underdog Foundation provides advice to asset owners, intermediaries and entrepreneurs. Through our programs, 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 assisted do work supported by the Tides Foundation. One previous Underdog Foundation Impact Award winner (New Media Ventures) also became 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. Previously, a majority non-profit owned finance firm, founded to support community investing, with our assistance, donated 1/3 of their equity to the Tides Foundation and 1/3 to the Underdog Foundation to support charitable grants and community investing. This resulted in distributions to Tides and the Underdog Foundation of $970,000 of cash for charitable purposes 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. Our work with social enterprises and diverse, change-making non-profits prepares them for donors in the Tides community.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 and enhancing their charitable mission. Part IV, Section E, Line 2b: Reasons For The Organization's Position Substantially all the programs of the Underdog Foundation support the mission of the Tides Foundation. The 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. 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 under-served communities, poverty alleviation, community development intermediaries and community 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 impact entrepreneurs who donate parts of their companies early in the companys life helps to create a next generation of donors and potential DAF holders. Our work with wealthy families to look deeply and innovatively at impact, helps to create a next generation of potential Tides Foundation donors. And our work with high integrity world-changing social entrepreneurs and other non-profits helps them prepare for donor-funds, and to use-donor funds more effectively for more impact. But for that work by the Underdog Foundation, the Tides Foundation would have less resources available to support its goals and maximize its impact.The Tides Foundation is committed to help donors make a difference in historically excluded groups and communities with their philanthropic dollars and impact investment dollars. But for the work and innovation of the Underdog Foundation in those areas, using and leveraging philanthropic dollars, advice and impact investment to maximize change, the Tides Foundation and its donors and partners would have less opportunities to support marginalized communities and less help with organizations in those communities. Tides Foundations effectiveness is increased by the support of the Underdog Foundation building new models and capital structures which will make the Tides Foundations work in these areas more impactful and effective. But for the work of the Underdog Foundation, DAF holders at the Tides Foundation would have fewer and less effective impact investment and grant opportunities. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false 86753 86753 17351 4338 false 52422 48736 21390 17351 139899 209849 10484 9747 4278 4338 28847 43271 6 1000 252612 true true 2987 2987 114325 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 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