Sea Change Foundation

Sea Change Foundation operates as one of the most strategically disciplined private climate foundations in the United States. Founded in 2006 by Nathaniel Simons (President) and Laura Baxter-Simons (CFO/Secretary) — the Simons family of Renaissance Technologies wealth — the San Francisco-based family foundation has committed to distributing $45-75M annually toward climate mitigation and clean energy. Their core philosophy is explicit: fewer and larger grants to maximize field-level leverage.

The foundation's grantee portfolio reveals a clear organizational archetype. Of 72 documented grants totaling $136.9M, the top five recipients — United States Energy Foundation ($63.9M), League of Conservation Voters Education Fund ($15.1M), Partnership Project ($13.8M), Rockefeller Philanthropy Advisors ($12.3M), and Tides Foundation ($4.7M) — are all intermediaries, fiscal sponsors, or national policy advocacy coalitions. Sea Change is not funding direct service providers or local implementers; it is funding the conveners, re-grantors, and policy architects who can multiply impact across the broader climate ecosystem.

Geographically, California organizations receive the most grants (33 of 72), followed by Washington DC (14) and New York (7). This reflects the foundation's focus on national policy infrastructure: most grantees are either West Coast-headquartered clean energy organizations or DC-based advocacy and think tank institutions positioned to influence federal policy.

Sea Change employs a strictly invitation-only model. No unsolicited proposals are accepted — the For Grantees page on seachange.org confirms this explicitly. Invited organizations access a CyberGrants portal managed by Tempest Advisors, the foundation's management firm. The path to an invitation runs through sector presence, relationship cultivation with existing grantees, and demonstrated alignment with one of Sea Change's five active program areas: utility reform, business and finance (corporate climate), communications and public engagement, transportation (clean vehicles and EV policy), and energy efficiency.

A notable leadership change has occurred: Anjali Jaiswal now serves as Executive Director, succeeding Thomas Steinbach. For prospective grantees, this transition is worth monitoring closely — new executive directors often bring subtle but meaningful shifts to program emphasis and organizational culture.

Sea Change's financial trajectory over five years tells an important story about both commitment and capacity. Annual giving has remained remarkably consistent at $45-48M despite significant asset erosion: total assets peaked at $316.7M in 2020 and declined to $208.5M by fiscal 2024 — a $108M reduction. With $0 in new contributions received in FY2022 and FY2023, the foundation appears to be in a deliberate spend-down phase, distributing accumulated endowment rather than replenishing it.

Annual giving history: $48.6M (2019) → $46.8M (2020) → $45.9M (2021) → $47.9M (2022) → $48.2M (2023). This consistency despite declining assets signals a foundation that prioritizes programmatic impact over endowment preservation.

From 72 documented grants totaling $136.9M: - Average grant: $1.9M - Median grant (per enrichment data): $1.1M - Range: $100,000 to $13M - Annual payout rate: ~22% of assets — more than four times the IRS 5% minimum, indicating a high-conviction spend-down posture

Grant concentration is extreme: the top 4 grantees absorbed approximately 76% of all documented giving ($104M of $136.9M). US Energy Foundation alone received $63.9M across 12 grants — an average of $5.3M per grant and clear evidence that Sea Change treats this intermediary as a primary distribution channel.

By program purpose, the split across documented grants is approximately: - Promote clean energy: ~45% of grant purposes - Educate public about climate and clean energy: ~30% - Promote energy efficiency: ~25%

Grant size by tier: major institutional anchors (>$5M) go exclusively to top intermediaries; mid-tier awards ($500K-$5M) support core operational grantees like Tides Foundation, Vote Solar, Sierra Club Foundation, and Ceres; strategic grants ($100K-$500K) go to focused technical organizations like Climate Solutions, Bluegreen Alliance Foundation, and University of Washington.

The database categorizes Sea Change under NTEE P20 (Human Services), which reflects a technical IRS classification rather than its actual focus — the foundation funds exclusively climate change mitigation and clean energy policy. Peers below are drawn from the database by similar asset size; note that Sea Change's annual giving rate (~22% of assets) dramatically exceeds all Human Services peers.

Sea Change's annual giving pace ($47M) is two to four times higher than most peers of similar asset size, reflecting a spend-down posture. Within the climate philanthropy landscape specifically, relevant comparators include ClimateWorks Foundation (~$250M assets, ~$50M annual giving) and Grantham Foundation ($30-40M annual giving) — Sea Change sits comfortably within this tier but distinguishes itself through its exceptionally concentrated grantee pool and its near-exclusive reliance on large intermediaries rather than direct program funding.

The most significant confirmed development at Sea Change is the executive director succession: Anjali Jaiswal has taken over from Thomas Steinbach, who is now listed as "Former Exec Dir" in 990 filings. No public announcement was issued — the foundation maintains a deliberately minimal public footprint, with no press releases, no social media activity, and no published grant announcements. The change was discovered through 990 filing data.

On the financial side, Sea Change's asset base has contracted from $294.5M (FY2021) to $208.5M (FY2024), a $86M decline over three years. Net investment income of $17.3M in FY2023 partially offset distributions but was not sufficient to maintain asset levels. Critically, contributions received were $0 in both FY2022 and FY2023 after $76.2M was received in FY2020 — suggesting the founders shifted to a distribution-only mode.

FY2024 revenue of $19.1M has been reported (vs. $6.95M in FY2023), potentially indicating resumed contributions or a portfolio recovery, but grant disbursement data for FY2024 has not yet been filed. The FY2024 990 will be a critical document to monitor.

Program activity in 2024-2025 appears to have continued along established lines: US Energy Foundation and other core grantees have publicly referenced Sea Change support in their own 990 filings. No new initiative launches or program pivots were publicly announced for 2025-2026 in available web sources.

Sea Change requires an invitation — but invitations are earned through deliberate positioning, not luck. Here is what actually increases your odds:

Enter through intermediaries first. US Energy Foundation (San Francisco), Rockefeller Philanthropy Advisors (New York), and Tides Foundation all receive substantial Sea Change grants and redistribute funds through their own programs. These organizations are the most accessible on-ramp to the Sea Change ecosystem without a direct relationship. Apply to US Energy Foundation's grant programs if your work addresses clean energy policy — they function as a Sea Change pass-through.

Prioritize systems-change framing. Every Sea Change grantee operates at the policy, market transformation, or public engagement level. Vote Solar shifts utility policy. Ceres moves corporate climate commitments. Gridlab produces grid analysis that shapes regulatory decisions. Regulatory Assistance Project trains utility regulators. None of them deliver direct services. Frame your theory of change around policy wins, market shifts, or scalable behavior change — not program outputs.

Use the five pillars as application language. Sea Change explicitly funds: utility reform, business and finance (corporate climate), communications and public engagement, transportation (clean vehicles/EVs), and energy efficiency. These exact phrases signal alignment. "Utility decarbonization advocacy" and "corporate climate engagement" are higher-signal than "environmental education" or "sustainability programs."

Outreach sequencing: Send an inquiry to info@seachange.org with a concise 2-paragraph description of your work and its alignment with one specific Sea Change pillar. Call (415) 830-9330 if no response within 3 weeks. Reference any existing relationships with Sea Change grantees — a warm introduction dramatically increases response likelihood.

Once invited: The CyberGrants portal (Tempest Advisors) is the formal pathway. Expect to provide organizational financials, a logic model for systems-level impact, measurable policy or market outcomes (not program activity counts), and an explanation of how your work complements rather than duplicates existing grantees.

Grant sizing: Request 1-year operating support initially. Median grant is $1.1M; average is $1.9M. For first-time grantees, a $250K-$750K ask demonstrates appropriate calibration. Multi-year commitments are earned through track record.