The Sustainable Markets Foundation (SMF) is a 501(c)(3) public charity based in New York, NY, established in January 2002. Despite its name, SMF is organized as a public charity rather than a traditional foundation. The organization operates as both a grantmaker and fiscal sponsor for environmental advocacy organizations, focusing on environmental protection, energy efficiency, consumer protection, and good government initiatives.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$51.2M
+15.9% YoY
Annual Giving
$13.2M
+84.2% YoY
Grant Count
53
-38.4% YoY
Avg Grant Size
$250K
+198.9% YoY
Mission & Focus Areas
SMF's mission centers on promoting environmental protection, energy efficiency, consumer protection, health and safety, and good government through clean energy and climate change programs.
The organization's primary program areas include:
Pollution Prevention — Research and public education on the need for bold action to prevent pollution, including dissemination of public education materials through media, online platforms, and public events to raise awareness of pollution's impact.
Environmental Conservation — Research and public education on protecting the environment, conserving natural resources, recycling, and preservation of clean air, water, and natural ecosystems.
Clean Energy and Just Transition — Public education about the need for an energy sector that is safe and healthy for everyone, with emphasis on just and equitable transitions that protect workers, communities, and economies.
Grantmaking
SMF distributes grants to environmental advocacy organizations working on climate action and clean energy transitions. According to recent financial data, the organization reported total giving of $14,855,055 in 2024, with typical award ranges between $1,630 and $3,367,500.
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Geographic Focus
Where this funder awards grants
SMF's grantmaking focuses primarily on California, New York, and Washington, though the organization describes itself as having a national and international focus with a U.S. base.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of August 2024:
- Total Assets: $51,207,046
- Total Revenue: $47,993,848
- Total Expenses: $41,478,897
- Total Liabilities: $2,040,000
- Total Giving: $14,855,055
Historical Growth: The organization has experienced significant financial growth, expanding from $4.3 million in annual revenue in 2011 to nearly $48 million by 2024.
Financial Rating: SMF received a 90% score and Four-Star rating, with an overall score calculated entirely from accountability and finance metrics.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $51,207,046 | $44,167,374 | $34,451,318 |
| Revenue | $47,993,848 | $39,210,071 | $42,011,341 |
| Expenses | $41,478,897 | $30,565,908 | $25,863,297 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $2,340,075 | $1,139,145 | $-1,096,212 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
239 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Jay R. Halfon serves as Director, General Counsel, and CEO of the organization.
Elizabeth Hitchcock is listed as President.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ELIZABETH HITCHCOCK | President | 1 | — |
| STEPHEN KLEINBERG Secretary | Treasurer | 1 | — |
| JOHN RICHARD | Vice President | 1 | — |
| JAY R HALFON dir gen Couns | CEO | 35 | — |
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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