Windward Fund EIN 47-3522162

Windward Fund

EIN  47-3522162 Public charity (501(c)(3)) Washington, DC Founded 2015
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/4/26 · see original filing: IRS
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Size
$100M+
What they do
Funds and hosts public awareness campaigns, grant-making projects, and donor collaborations to support environmental conservation, sustainable food systems, and disaster preparedness.
Leadership
Sarah Smith · Project Program Director · $296K
Money in and out
$308.2M revenue, $251.3M expenses
Bottom line
95% program efficiency

Funds and hosts public awareness campaigns, grant-making projects, and donor collaborations to support environmental conservation, sustainable food systems, and disaster preparedness. For fiscal year 2024 it reported $308.2M in revenue, $251.3M in expenses, and $320.2M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$308.2M
Pt VIII · Ln 12
Total expenses
$251.3M
Pt IX · Ln 25
Net assets
$320.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $56.9M
Where spending went · Part IX cols B–D
Program services $0.95 Management & general $0.04 Fundraising $0.00
Program efficiency
95%
of spending reaches programs0% vs prior filing year
Operating runway
15.7mo
months of highly liquid reserves at operating expense rate▲ +4% vs prior filing year
Surplus margin
+18%
revenue over expenses, this year▲ ×75 vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$308.2M
FY2024▲ +45%
Expenses
$251.3M
FY2024▲ +19%
Total assets
$432.7M
FY2024▲ +22%
Total liabilities
$112.6M
FY2024▲ +21%
Total revenue
$308.2M
Pt VIII · Ln 12
Total expenses
$251.3M
Pt IX · Ln 25
Net assets
$320.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$56.9M
Total assetsPt X · Ln 16$432.7M
Program-expense ratioPt IX · col B95%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

3 program services account for $238.4M of program spending, described in the organization's own filed words · FY2024.
01

Environmental Programs

Windward fund's environmental programs focus on a range of conservation, climate, and energy issues in the U.S. And abroad. These issues include water solutions in the american west, climate resilience, alternative energy sources, reduction of deforestation, and conservation planning.

$224.2Mprogram expense
02

Agriculture, Food, and Nutrition

Windward's agriculture, food, and nutrition projects support community food production and strengthen regional food systems by increasing access to information, services and resources for food producers.

$12.9Mprogram expense
03

Public Safety, Disaster Preparedness and Relief

Windward's public safety, disaster preparedness and relief programs focus on a range of issues including assisting public agencies on disaster response, improving risk mitigation measures, and developing advanced safety solutions.

$1.3Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWindward Fund
EINHdr · item D47-3522162
Principal addressHdr · item CWashington, DC
WebsiteHdr · item Jwww.windwardfund.org
Year of formationHdr · item L2015
State of legal domicileHdr · item MDC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEnvironment (C30)
Ruling yearIRS BMFJun 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Project Program Director
$296,200Pt VII · Sec A
Project Chief Operating Officer
$280,165Pt VII · Sec A
Project Chief Executive Officer
$258,938Pt VII · Sec A
Project Co-Director
$257,026Pt VII · Sec A
Project Co-Director
$253,826Pt VII · Sec A
President
$240,597Pt VII · Sec A
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A

Sarah Smith’s $296K as Project Program Director is at the 22nd percentile of top reported officer pay among 18 $100M+ environment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Sarah Smith$296,200
James Walker$280,165
Cammie Croft$265,000$231,903
John Marshall$260,000
Sarah Lake$258,938
Erin Rogers$257,026$250,262$240,863$233,349$217,400
Thomas Mercer III$254,063
Melanie Allen$253,826

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$295.3M · 96%
Investment income$10.8M · 4%
Contributions & grants96%$295.3M
Investment income4%$10.8M
Program service revenue$746K
Other revenue$1.4M
Total revenueLn 12$308.2M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.95 Management & general $0.04 Fundraising $0.00
Program services95%$239.5M
Management & general4%$10.6M
Fundraising$1.2M
Total functional expensesLn 25$251.3M

Balance Sheet

Part X · end of year
CashLn 1$329.1M
Total assetsLn 16$432.7M
Total liabilitiesLn 26$112.6M
Total net assetsLn 32$320.2M
Months of cash on handcomputed15.7

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $329.1M · Operating expenses (Pt IX) $251.3M · Less non-cash grants $48K · Cash operating expenses/yr $251.3M
15.7 months
Where the money goes
Program services
Program services $239.5M · Total expenses $251.3M
95%
Management & General
Management & general $10.6M · Total expenses $251.3M
4%
Fundraising
Fundraising $1.2M · Total expenses $251.3M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $773K · Solicited contributions (3-yr avg) $228.7M
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $295.3M · Total revenue $308.2M
96%
Government reliance
Government grants — · Total revenue $308.2M
Earned-income share
Program service revenue $746K · Total revenue $308.2M
0%
Investment reliance
Investment income $10.8M · Total revenue $308.2M
+4%
Program self-sufficiency
Program service revenue $746K · Total expenses $251.3M
0%
Growth & trend
Revenue growth (YoY)
This year $308.2M · Prior year $212.4M
+45%
Revenue CAGR
FY2020 $158.6M · FY2024 $308.2M
+18%
Net-asset trend (YoY)
End of year $320.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $308.2M · Expenses $251.3M
+18%
Liabilities-to-Assets
Total liabilities — · Total assets $432.7M
Net-asset ratio
Net assets $320.2M · Total assets $432.7M
74%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $432.7M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Sarah Smith · Reported title PROJECT PROGRAM DIRECTOR · Highest reported compensation $296K · Total expenses $251.3M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $21.4M · Total expenses $251.3M
8%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 95%
Overhead ratio 4%
Fundraising cost ratio 0%
Revenue growth 45%
Legal fee ratio 0%
Accounting fee ratio 0%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$2.0M
Grants paid · 1,562 grants · $501.1M · 2020–2024
Carbon Mapper INCCA · FY2024$5,000,000
Hourglass Climate INCNJ · FY2024$3,948,938
The Energy FoundationCA · FY2024$3,423,333
Cornell UniversityNY · FY2024$2,991,652
Frontier Climate Management LLCFY2024$2,828,213
World Resources InstituteDC · FY2024$2,296,667
Mighty Earth INCDC · FY2024$2,232,657
Rocky Mountain InstituteCO · FY2024$1,960,000
Meridian InstitutePA · FY2024$1,400,000
Rewiring America INCDC · FY2024$1,320,330
Tides FoundationCA · FY2024$1,270,000
Houston in Action NetworkTX · FY2024$1,200,500
World Wildlife Fund INCDC · FY2024$1,182,340
The Regents of University of California DavisFY2024$1,100,148
See all 1,562 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$308.2M revenue · viewing · ⤓ 990 PDF
FY2023$212.4M revenue · ⤓ 990 PDF
FY2022$198.1M revenue · ⤓ 990 PDF
FY2021$274.3M revenue · ⤓ 990 PDF
FY2020$158.6M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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