The $10 billion charity no one has heard of

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “It’s in keeping with the letter of charity law but not its spirit.” The quick rise of SDG Impact Fund The SDG Impact Fund was founded as a nonprofit in 2013 by Anthony Suber and Amber Nystrom, whose backgrounds are in finance and wealth management, and Colborn Bell, founder of the crypto investment advisory firm Finite Square Well and founder-director of the Museum of Crypto Art. Flannery and Brian Mittendorf, an accounting professor specializing in nonprofits at Ohio State University, were researching donor-advised funds when they came across SDG Impact Fund’s 990 filings with the Internal Revenue Service. SDG Impact Fund’s high asset value in 2022 is curious to art adviser Todd Levin because cryptocurrency plummeted that year and NFT values “were in the toilet.” That the fund did not record a sharp reduction in value in 2022 raises a lot of questions, says Andie Kramer, a lawyer who specializes in cryptocurrency transactions. In 2021, the first year the SDG Impact Fund reported its $10 billion asset figure, the fund made $4.3 million in grants, according to its 990 form.