# Windward Fund & Hopewell Fund Schedule I Grant Recipient Analysis

**Research Date:** 2026-03-13
**Data Source:** IRS Form 990 XML e-files via ProPublica Nonprofit Explorer
**Filing Years:** 2023-2024 for both entities

---

## Executive Summary

Analysis of 1,316 grant recipients across Windward Fund and Hopewell Fund's 2023-2024 Schedule I filings found **ZERO grants to any child online safety, age verification, digital childhood, or tech policy advocacy organization**. This completes the analysis of all five Arabella Advisors network entities.

**Final Arabella Network Total:** Across all five entities (NVF + STF + North Fund + Windward + Hopewell), **4,433 grants** totaling approximately **$2.0 billion** have been analyzed, with **zero dollars** going to any organization related to child online safety, age verification, or the App Store Accountability Act. The Schedule I grant pathway is **definitively ruled out** across the entire Arabella network.

---

## 1. Windward Fund

**EIN:** 47-3522162
**Address:** 1828 L Street NW, Suite 300-C, Washington, DC 20036
**Tax Status:** 501(c)(3)
**Board:** Adam Eichberg is a founding board member

### 2024 Filing

| Metric | Value |
|--------|-------|
| Revenue | $308,245,754 |
| Total Assets | $432,729,235 |
| Grant Recipients | 458 |
| Total Grants | $137,706,713 |

### 2023 Filing

| Metric | Value |
|--------|-------|
| Grant Recipients | 294 |
| Total Grants | $111,308,355 |

### Combined Windward (2023-2024): 752 grants, $249,015,068

### Target Organization Search — ZERO MATCHES

No grants to any child safety, age verification, digital childhood, or tech policy organization in either year.

### Keyword Matches — False Positives Only

- "Online News Association" ($75K, 2024) — journalism, NOT online safety
- "San Bernardino County Fire Protection District" ($546K, 2024) — public safety (fire), NOT digital safety
- "Hoopa Valley Tribe" ($110K, 2023) — public safety, tribal fire protection
- "Karuk Tribe" ($200K, 2023) — public safety, tribal fire protection

### Grant Portfolio Character

Windward Fund is overwhelmingly an **environmental and climate** grantmaker:

**2024 by Purpose:**
| Category | Amount | % |
|----------|--------|---|
| Environmental Programs | $131,769,360 | 95.7% |
| Agriculture, Food, Nutrition | $5,391,000 | 3.9% |
| Public Safety, Disaster Preparedness | $546,353 | 0.4% |

**Top Recipients (2024):** University of Illinois ($8.25M), Environmental Defense Fund ($7.77M), Carbon Mapper ($5M), Hourglass Climate ($3.95M), Energy Foundation ($3.42M), Cornell University ($2.99M), NRDC ($2.30M), World Resources Institute ($2.30M)

### Internal Arabella Transfers

| Year | To | Amount | Purpose |
|------|------|--------|---------|
| 2024 | Sixteen Thirty Fund | $1,000,000 | Environmental Programs |
| 2024 | Hopewell Fund | $75,000 | Environmental Programs |
| 2023 | NVF | $80,000 | Environmental Programs |
| 2023 | Sixteen Thirty Fund | $500,000 | Environmental Programs |

---

## 2. Hopewell Fund

**EIN:** 47-3681860
**Address:** 1828 L Street NW, Suite 300-D, Washington, DC 20036
**Tax Status:** 501(c)(3)

### 2024 Filing

| Metric | Value |
|--------|-------|
| Revenue | $208,022,501 |
| Total Assets | $172,927,279 |
| Grant Recipients | 256 |
| Total Grants | $112,269,582 |

### 2023 Filing

| Metric | Value |
|--------|-------|
| Grant Recipients | 308 |
| Total Grants | $84,561,932 |

### Combined Hopewell (2023-2024): 564 grants, $196,831,514

### Target Organization Search — ZERO MATCHES

No grants to any child online safety, age verification, digital childhood, or tech policy organization.

### Keyword Matches — All Traditional Children's Welfare

The "child" keyword produced multiple hits, but **all are traditional children's welfare organizations** — early childhood education, children's health, and youth advocacy. **None are related to digital/online child safety, age verification, or tech policy:**

| Organization | Amount | Year | Actual Focus |
|-------------|--------|------|-------------|
| Children's Action Alliance | $106K/$82K | 2024/2023 | AZ child welfare policy |
| Children's Defense Fund | $125K | 2023 | Child poverty/health |
| Maine Assoc. for Education of Young Children | $20K/$25K | 2024/2023 | Early childhood education |
| Maine Children's Alliance | $25K | 2023 | Child welfare policy |
| Idaho Voices for Children Foundation | $157K | 2024 | Child welfare policy |
| Stand for Children Leadership Center | $50K/$75K | 2024/2023 | Education advocacy |
| Voices for Virginia's Children | $25K | 2024 | Child welfare |
| Wisconsin Early Childhood Association | $270K/$120K | 2024/2023 | Early childhood education |
| New Mexico Voices for Children | $100K | 2023 | Child poverty |
| Partnership with Children | $50K | 2023 | Youth development |
| Commonsense Childbirth Inc | $5K | 2024 | Midwifery/maternal health |

**US Digital Response** ($500K each year) — government technology services, NOT digital child safety or tech policy.

### Grant Portfolio Character

Hopewell Fund focuses on **progressive civic engagement** and **reproductive health**:

**2024 by Purpose:**
| Category | Amount | % |
|----------|--------|---|
| Civil Rights, Social Action, Advocacy | $88,602,246 | 78.9% |
| Health | $18,190,554 | 16.2% |
| Ballot Measure | $2,542,000 | 2.3% |
| Youth Development and Education | $2,440,074 | 2.2% |
| Technology and Innovation | $234,709 | 0.2% |

### Internal Arabella Transfers

| Year | To | Amount |
|------|------|--------|
| 2024 | New Venture Fund | $11,045,000 |
| 2024 | Sixteen Thirty Fund | $8,296,066 |
| 2023 | New Venture Fund | $6,527,128 |
| 2023 | Sixteen Thirty Fund | $250,000 |
| 2023 | North Fund | $45,000 |

**Key Finding:** Hopewell is a major **reverse feeder** — sending $11M back to NVF and $8.3M back to STF in 2024. This adds another dimension to the circular Arabella flow.

---

## 3. Complete Arabella Network Analysis — ALL FIVE ENTITIES

| Entity | Type | Years | Grants | Amount | Child Safety |
|--------|------|-------|--------|--------|-------------|
| New Venture Fund | 501(c)(3) | 2022-2024 | 2,669 | ~$1.28B | **$0** |
| Sixteen Thirty Fund | 501(c)(4) | 2024 | 306 | ~$208M | **$0** |
| North Fund | 501(c)(4) | 2023-2024 | 142 | ~$59M | **$0** |
| Windward Fund | 501(c)(3) | 2023-2024 | 752 | ~$249M | **$0** |
| Hopewell Fund | 501(c)(3) | 2023-2024 | 564 | ~$197M | **$0** |
| **TOTAL** | — | — | **4,433** | **~$2.0B** | **$0** |

### Complete Internal Transfer Map (2024)

```
                    ┌──$11M──→ NVF ──$121.3M──→ STF
Hopewell ──$8.3M──→ STF ──$6.8M──→ North Fund ──$5.3M──→ STF (circular)
                                     North Fund ──$250K──→ Windward
NVF ──$8.8M──→ Hopewell              North Fund ──$150K──→ Hopewell
NVF ──$20.9M──→ North Fund
Windward ──$1M──→ STF                STF ──$162K──→ NVF (reverse)
Windward ──$75K──→ Hopewell          STF ──$1.4M──→ Hopewell
                                     STF ──$6.8M──→ North Fund
```

The Arabella network transfers are **multi-directional and circular** — every entity both sends and receives from multiple other entities, making the network function as a single financial organism despite its formal separation into five legal entities.

---

## 4. Conclusions

### Definitive Finding

**The Arabella Advisors network does NOT fund child online safety, age verification, or tech policy advocacy through its Schedule I grant mechanism.** This finding is based on analysis of **4,433 grants totaling approximately $2.0 billion** across all five network entities, with zero matches for any relevant organization or keyword.

### What This Rules Out

The most transparent pathway for Meta → Arabella → DCA funding (Schedule I grants) is definitively closed. Any Meta funds flowing through the Arabella network to support child safety or ASAA advocacy would require:

1. **Fiscal sponsorship** — DCA operating as a "sponsored project" (does not appear on Schedule I)
2. **Non-grant payments** — Consulting fees, service contracts, or management fees
3. **NVF lobbying expenditures** — $36.7M (Part IX) could fund advocacy outside Schedule I
4. **Arabella management fees** — Arabella Advisors (now Sunflower Services) charged $13.5M to NVF alone

### What This Confirms About the Network

1. **Windward Fund** is an environmental grantmaker (96% of grants to environmental programs)
2. **Hopewell Fund** is a civic engagement and reproductive health grantmaker
3. **All five entities** transfer money to each other, confirming operation as a unified network
4. **Adam Eichberg** sits on the boards of both NVF (chair) and Windward (founding member) — two of the five entities that collectively manage $2B+ in grants with zero child safety spending

---

## Sources

- ProPublica Windward Fund: https://projects.propublica.org/nonprofits/organizations/473522162
- ProPublica Hopewell Fund: https://projects.propublica.org/nonprofits/organizations/473681860
- Windward 2024 XML: https://projects.propublica.org/nonprofits/download-xml?object_id=202513159349305886
- Windward 2023 XML: https://projects.propublica.org/nonprofits/download-xml?object_id=202423169349305292
- Hopewell 2024 XML: https://projects.propublica.org/nonprofits/download-xml?object_id=202543159349305889
- Hopewell 2023 XML: https://projects.propublica.org/nonprofits/download-xml?object_id=202423179349304767
- InfluenceWatch Windward: https://www.influencewatch.org/non-profit/windward-fund/