Riverstyx Foundation

## Approach Strategy for Riverstyx Foundation

The Riverstyx Foundation, based in Santa Rosa, California, is a distinctive philanthropic organization co-directed by Miriam Volat (M.S., soil microbiology) and T. Cody Swift (MFT, existential-phenomenological counseling psychology), with Kevin Bayuk managing impact investments. Established in 2002 (NTEE: A31 — Film/Video), the foundation operates at the intersection of psychedelic research, social justice, indigenous medicine, and ecological conservation. Its philosophy draws from Jungian psychology, emphasizing reconciliation of shadow and light in society. The foundation explicitly does NOT accept unsolicited proposals — all grants are made through a consensus process between co-directors and board. Organizations working in psychedelic-assisted therapy, drug policy reform, indigenous plant medicine conservation, or ecological initiatives like green burial and composting should focus on relationship-building through shared networks in the psychedelic research and social justice communities. The co-directors practice "engaged philanthropy" involving deep, multi-year partnerships with grantees.

## Funding Patterns Analysis

Riverstyx Foundation has maintained a substantial and variable grantmaking program over five years:

• 2023: $2,185,105 in grants (total expenses: $2,756,080, assets: $7.4M book / $9.0M FMV)
• 2022: $798,650 in grants (total expenses: $1,617,780, assets: $30.0M book / $35.5M FMV)
• 2021: $1,234,756 in grants (total expenses: $1,752,175, assets: $29.2M book / $41.7M FMV)
• 2020: $1,762,150 in grants (total expenses: $2,188,645, assets: $28.4M book / $39.6M FMV)
• 2019: $2,502,814 in grants (total expenses: $2,893,904, assets: $26.8M book / $36.7M FMV)

Notable observation: There was a dramatic drop in assets between 2022 ($30M) and 2023 ($7.4M), suggesting a major distribution, restructuring, or asset transfer event. Despite this, 2023 grantmaking was the second-highest in the five-year period at $2.19M. The five-year average grant total is $1.70M annually. The foundation supports approximately 25-47 different charities per year based on IRS filings, implying average grants of $46K-$87K per organization. Revenue fluctuates significantly ($1.3M-$3.8M), suggesting investment-dependent income streams.

## Peer Comparison

Riverstyx stands out for its extraordinarily high payout rate in 2023 (24.2% of FMV), far exceeding the 5% IRS minimum. This, combined with the major asset decline, suggests the foundation may be in a spend-down or restructuring phase. Among psychedelic-focused funders, Riverstyx is a recognized leader alongside organizations like the Heffter Research Institute and the Saisei Foundation.

## Recent Activity and Trends

Based on IRS filings and website content, several important trends are visible at Riverstyx Foundation:

• Possible Spend-Down or Restructuring: The most striking recent development is the dramatic asset decline from $30M (2022) to $7.4M (2023). This 75% reduction, combined with high 2023 grantmaking ($2.19M), may indicate an intentional spend-down strategy, a large single distribution to a successor entity, or a major programmatic shift. Applicants should consider whether the foundation's capacity is changing.

• Focus Area Evolution: The website highlights four interconnected program areas: Psychospiritual (psychedelic research, end-of-life), Societal (drug policy, criminal justice, economic justice), BioCultural (dark skies, composting toilets, green burial), and Indigenous Medicine (plant medicine conservation). The psychedelic research focus has gained mainstream traction with FDA and state-level regulatory changes.

• Engaged Philanthropy Model: Co-directors Miriam Volat and Cody Swift emphasize "relationally-based commitments" with multi-year partnerships, minimal bureaucratic reporting, and deep involvement with grantees. This model favors organizations that can demonstrate trust and alignment with the foundation's worldview.

• Film and Media: The NTEE classification (A31 - Film/Video) and Cody Swift's background in film and qualitative research suggest continued interest in storytelling and media projects that communicate the subjective experience of healing and consciousness exploration.

## Application Tips

Since Riverstyx Foundation explicitly does not accept unsolicited proposals, the following strategies are recommended for organizations seeking funding:

1. Network Through the Psychedelic and Reform Communities: The co-directors are active in psychedelic research, drug policy reform, and indigenous medicine circles. Attend conferences like Psychedelic Science (MAPS), the International Transpersonal Conference, or drug policy reform convenings. Engage with organizations the foundation has previously supported.

2. Align With the Foundation's Philosophy: Riverstyx's identity is deeply rooted in Jungian psychology and the reconciliation of shadow elements in society. Proposals should resonate with this worldview — emphasize how your work addresses stigmatized, overlooked, or "shadow" aspects of society. Avoid conventional, mainstream framing.

3. Demonstrate Early-Stage Innovation: The foundation explicitly prefers "early-stage projects" and "emergent paradigms." Position your initiative as catalytic and pioneering rather than scaling existing models. Show how seed funding can unlock disproportionate impact in areas others won't fund.

4. Build Relationship Before Asking: Given the consensus-based, relationally-driven approach, invest time in genuine relationship-building. Share your work through publications, media, or mutual connections. The co-directors value trust and philosophical alignment over polished grant applications.

5. Contact Information: For non-grant inquiries, email info@riverstyxfoundation.org or write to 2222 Cleveland Ave, #1026, Santa Rosa, CA 95403. Do not submit unsolicited grant proposals through these channels — they will not be considered. Instead, focus on building awareness of your work within the foundation's network.