The Small Change Foundation
The Small Change Foundation is a private foundation, based in San Francisco, CA. IRS filing data is available from 2019 through 2023. In 2023, it awarded 3 grants totaling $12K.
The Small Change Foundation at a glance
In short: The Small Change Foundation gave $12K across 3 grants in 2023 (avg $4K), mostly in California. Source: 2023 IRS Form 990-PF.
- Annual giving (2023)
- $12,061
- -99.7% vs 2022
- Grants made (2023)
- 3
- +0.0% vs 2022
- Average grant
- $4,020
- -99.7% vs 2022
- Median grant
- $651
- Primary geography
- California (100% of itemized 2023 grant dollars)
- Latest 990 filing
- Form 990-PF, 2023 View filing
Data from IRS Form 990-PF, 2023; updated September 2026.
Who The Small Change Foundation funds
How this funder distributes its grants
Top Recipients
Top recipient in 2023
The largest 2023 recipient was The San Francisco Foundation Hallelujah Fund ($12K across 3 grants).
Grant Size Distribution
76 grants across all recorded years
The most common grant size was under $50K: 66 grants of 76 (87%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2023 grant dollars across all 3 itemized grants.
States
Cities
How The Small Change Foundation gives
- Giving fell 97% from 2020 to 2023. Method
- In 2023 it paid out well above its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2023, annual grant giving ranged from $12K (2023) to $4.0M (2022). In 2023 it made 3 grants totaling $12K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The San Francisco Foundation Hallelujah Fund San Francisco, CA | Support of san francisco foundation's charitable work in the bay area | $11,228 |
| The San Francisco Foundation Hallelujah Fund San Francisco, CA | Support of san francisco foundation's charitable work in the bay area | $651 |
| The San Francisco Foundation Hallelujah Fund San Francisco, CA | Support of san francisco foundation's charitable work in the bay area | $182 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2023 | — | $683 | $27,939 | $12,061 | 3 | $12,061 | — | $362 |
| 2022 | $27,256 | $300,009 | $4,024,882 | $3,991,392 | 3 | $3,991,392 | $283,611 | $211,896 |
| 2021 | $3,752,129 | $328,090 | $541,178 | $514,500 | 24 | — | $310,337 | $248,036 |
| 2020 | $3,968,171 | $294,403 | $427,033 | $401,000 | 18 | — | $277,709 | $222,481 |
| 2019 | $4,097,847 | $278,277 | $540,802 | $516,000 | 28 | — | $259,404 | $233,955 |
Under IRS private-foundation payout rules, The Small Change Foundation reported a distributable amount of $362 for 2023 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Small Change Foundation is led by Michael P. Nguyen Hormel, President on every filing since 2021; none of the 3 officers listed in 2023 report compensation.
Officers on the 2023 filing
Michael P. Nguyen Hormel
President
On filings since 2021
3 hrs/week
No compensation reported
Paul Grippardi
Treasurer
On filings since 2019
3 hrs/week
No compensation reported
Raymond L. Mulliner
Vice President & Secretary
On filings since 2019
3 hrs/week
No compensation reported
Former officers (1)
- Former: James C. Hormel (2019–2020) — President
Data from IRS Form 990 filings, 2019–2023. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about The Small Change Foundation
How much does The Small Change Foundation give each year?
The Small Change Foundation gave $12K across 3 grants in 2023, according to its 2023 IRS Form 990-PF. In 2022 it gave $4.0M across 3 grants.
What is The Small Change Foundation's typical grant size?
The Small Change Foundation's median grant in 2023 was $651, and its average grant was $4,020, across 3 grants on its 2023 IRS Form 990-PF.
Where does The Small Change Foundation give grants?
The Small Change Foundation gives mostly in California: 100% of the grant dollars itemized on its 2023 IRS Form 990-PF went to recipients there. The most frequent recipient cities were San Francisco, CA (3 grants).
Does The Small Change Foundation give general operating support?
Not in 2023: none of the 3 grants with a stated purpose on The Small Change Foundation's 2023 IRS Form 990-PF were described as general or operating support.
How much is The Small Change Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2023, The Small Change Foundation reported a distributable amount of $362 on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Small Change Foundation's EIN?
The Small Change Foundation's EIN (Employer Identification Number) is 94-3271247. IRS Form 990 filing data is available on this page for 2019–2023.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS August 21, 2020)
- IRS filings on file for fiscal years 2020–2023
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