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ANNUALREPORT2 0 2 3www.pennywise.orginfo@pennywise.orgTHE PENNYWISEFOUNDATIONSmall Change for a Better World

DEAR FRIENDS, In another year fraught with crises of enormous magnitude we are humbled byhow much Pennywise has to celebrate. Our consistent, persistent investment ininnovative grassroots organizations continues to yield outsized returns. Ourpartners are developing and implementing non-mainstream solutions thatreduce waste and reimagine how limited resources can be leveraged togenerate enduring positive change. We are proud of these partners and we are equally proud of how ourpartnerships function. A multi-year collaboration with Georgetown University’sMcCourt School of Public Policy has provided an infusion of research expertise.We have enhanced our grantee search, vetting and assessment tools affordingus even greater trust in the organizations we select for support. This trustallows us to implement a grant making model that minimizes red tape andmaximizes efficiency. We offer general operating support- a critical resourcegap for so many small NGOs- and multi-year funding without time consumingre-application processes. This approach leverages the impact of ourcontributions and allows our partners to spend less time fundraising and moretime focused on their life changing program priorities. Identifying strategies that work on smaller scales instills hope for change on theglobal scale. We will continue to identify, uplift and support instruments of thatchange. We know we can only do that with the ongoing support of all of youwho contribute to Pennywise in so many ways. Thank you so very much forbeing a part of our vision and helping us move it forward. Laura and Liz01Pennywise Foundation Annual Report 2023

OURMISSIONWe supportinnovative,regenerative andenduring solutionsto global problemsthat upliftcommunities andempowerindividuals.02Pennywise Foundation Annual Report 202311CURRENTGRANTEES

OURAPPROACH03Pennywise Foundation Annual Report 2023Redu ci ng w as teBr ea ki ng d es tr uc ti ve c yc le sPr io ri ti zi ng B IP OC a nd Y ou thLe ad er sh ipPr om ot in g su st ai na bi li tyWE F IN D GR AN TE ES T HA T AR EPE NN YW IS E- Y:

2023 GRANTSPROGRAM We make grants to small,grassroots organizationsthat implement innovativestrategies that reduce costsand waste, breakdestructive cycles,demonstrate tangibleimpact, and are sustainablefor the long term.2023 brought a targeted focuson CLIMATE CHANGE. Wemade grants to:04Pennywise Foundation Annual Report 2023Clean the World- Collectingand recycling discardedsoap and other hygieneproducts from hospitalitypartners and distributingthem to people experiencingpoverty. Pennywise issupporting a new CTWproject teaching girls andwomen in Uganda tomanufacture fabricmenstrual pads and marketthem for sale.

05Pennywise Foundation Annual Report 2023 1% for the Planet - A globalnetwork of thousands ofbusinesses that commit todonating at least 1% ofannual sales directly toenvironmentalorganizations. SOIL - By converting humanwaste into rich compost,SOIL creates meaningfullivelihood opportunitiesthroughout the ecologicalsanitation cycle. Agua Para La Vida -Teaching communities tobuild, maintain, and securethe future of their water andsanitation infrastructure.

06Pennywise Foundation Annual Report 2023In 2023 we also remainedvigilant in the face ofongoing threats toREPRODUCTIVE RIGHTSwith continued support for:The Reproductive HealthAccess Project- Trainingand supporting clinicians toincorporate reproductivehealth services into primarycare systems which de-stigmatizes and increasesaccess to abortion care. Keep Our Clinics- Recognizing it is moreimportant than ever forclinics providing abortioncare to continue to operate,KOC provides brick andmortar support that literallykeeps doors open.

2 0 2 3V O T E W I S EP R O G R A MThe Pennywise VoteWiseprogram offers multi year,strategic support to smallgrassroots voting rightsorganizations that havebeen recognized for theoutsized impacts they arehaving in theircommunities. This year our grants went to:Black Voters MatterCapacity Building Institute-increasing power inmarginalized, predominantlyBlack communities.07Pennywise Foundation Annual Report 20231 Vote Counts- educatingincarcerated individuals,returning citizens and othersliving in at-risk communitiesabout voting and building apipeline of BIPOCcommunity leaderscommitted to using theelectoral process to demandpositive change. New North CarolinaProject- creating agroundswell of lifelong Blackvoters by incorporating "GetOut the Vote'' efforts intobroader initiativesaddressing communityneeds as defined bycommunities themselves.

08Pennywise Foundation Annual Report 2023Root the Power- youngpeople in Kansas, the UStesting ground for so manycritical public policyresponses, motivating theirpeers to engage in thepolitical process. Movement Voter Project-With a focus on youth andBIPOC leadership, MVPsupports hundreds oforganizations that both turnout unlikely voters andorganize communities to create transformation frompolicy to the streets.

2 0 2 3 U R G E N TR E S P O N S EF U N DP R O G R A MWe reserve funds torespond at moments ofgeo-political crises. Wemove these resourcesquickly, addressingspecific needs andbridging gaps until largerscale aid can be secured. On July 10th, much ofVermont- the Pennywisehome base- experiencedhistoric and catastrophicflooding. We respondedquickly by assessing floodrelated fundraising effortsaround the state with thegoal of maximizing the 09Pennywise Foundation Annual Report 2023impact of every penny wecontributed to relief efforts. Our Urgent Response Fundssupported: The Vermont Main StreetFlood Recovery Fund- afundraising collaborativethat formed immediatelyafter the flood and providedgrants to small businessesto cover costs such asequipment replacement,supplies and to clean-up. The Pennywise contribution prioritized BIPOC ownedand led small businesses.

10Pennywise Foundation Annual Report 2023The Intervale Center- aVermont non-profit thatstrengthens communityfood systems through itsown farms and bysupporting farms across thestate. The Intervale was inundatedby the flood and neededfunds to restore itsinfrastructure, which theydid while simultaneouslychanneling resources toother impacted farms andaddressing increased foodinsecurity in the wake of thedisaster.The Vermont FloodResponse and RecoveryFund - The VermontCommunity Foundationestablished this fund tomeet urgent needs andgenerate resources forlonger term recovery efforts to build back across townsand villages, farms andfamilies, watersheds, andhomes.

2 0 2 3C O L L A B O R A T I V ES U P P O R TP R O G R A M SWe engage in collectiveimpact initiatives byidentifying opportunities forcollaboration and offeringtechnical assistance tomake strategic partnershipsfunction effectively. Our Collaborative Supportprojects also furthered our2023 focus on CLIMATECHANGE. They were:11Pennywise Foundation Annual Report 2023

12Pennywise Foundation Annual Report 2023Maquipucuna - Pioneering conservation in EcuadorMaquipucuna is preserving local wildlife- including theendangered Andean bear- while promoting environmentaleducation, sustainable economic development anddemonstrating that preserving natural assets yields muchgreater long-term economic and societal benefits thandestroying them for short-term profit.

13Pennywise Foundation Annual Report 2023Amazon Hopes Collective - Collaboratively developinginnovative solutions in the threatened southern Amazon. The Amazon Hopes Collective is a team of indigenous leaders,Brazilian and international scientists, public health andcommunity development experts. Led by its indigenouspartners, the AHC is addressing critical problems, such asforest fires, pollution, and food security.

S K I S F O R C H A N G ECentered around our organizational model,we created a unique fundraising eventcelebrating giving by and for the Vermontski community. 14Pennywise Foundation Annual Report 2023

Skis For Change demonstrated bestpractices in non-profit andcorporate partnerships byreducing waste, raisingrevenue and increasingawareness. We collectedgently used ski gear anddonated it to charitableorganizations that areincreasing access to skiing.We also collected skis thatare no longer safe for thehills and we are keepingthem out of landfills bydonating them to artisansthat will repurpose them intoart and furniture.Skis for Change culminated ina celebration at J Skis Bar andLounge which included asilent auction with themajority of items donatedfrom our growingpartnerships with for profitski industry businesses. 15Pennywise Foundation Annual Report 2023

16Pennywise Foundation Annual Report 2023 The primary beneficiary ofthe 2023 Skis For Changeevent was VERMONTADAPTIVE - a nationallyrecognized organization thatempowers people withdisabilities and promotesindependence and furtherequality through access andinstruction to sports andrecreational activities.

F I N A N C I A L SOver 92% of every dollar donated to Pennywise goes to ourprograms17Pennywise Foundation Annual Report 2023

18Pennywise Foundation Annual Report 2023Your support has enabled us to continue to grow!

T H A N K Y O UThe William Talbott Hillman FoundationThe Applebaum FoundationThe Henry L and Grace Doherty FoundationThe Magic Mann Global Indigenous FundThe Fidelity Charitable TrustAlice Dorshow The S & C Harvest FoundationThe Pearl Family FoundationPennywise depends on institutional support from:The Jeanette Baron Charitable TrustJ SkisAnd we depend on each of you - our individual donors.Every penny brings about small change for a better world19Pennywise Foundation Annual Report 2023