Rivian has disclosed its first $10 million in grants through the Rivian Foundation, fulfilling a commitment made three years ago. This follows the company’s pledge to dedicate 1% of its equity to the foundation, which aims to treat the natural world as a “stakeholder” in Rivian’s operations.
The grants were announced alongside the launch of a new website that outlines 41 beneficiaries, with most recipients based in the U.S., though a few are located internationally.
This marks a significant step in addressing one of Rivian’s early promises made during its IPO. However, the timing coincides with a sharp drop in Rivian’s stock price, which has reduced the value of its original equity contribution from $643 million to $98 million. Until now, Rivian had been silent on how the foundation and its associated entity, Forever by Rivian, would operate or invest its funds, leaving many questions about its philanthropic priorities unanswered.
Grants Focus on Environment and Community
The foundation’s list of grantees indicates a focus on environmental preservation, agriculture, renewable energy, and support for indigenous and urban communities. The largest grant, totaling $2 million, was awarded to The Nature Conservancy to help protect key California landscapes. Another significant recipient, the Ocean Resilience Climate Alliance (ORCA), received $1 million. ORCA had previously announced a collective $250 million commitment, including contributions from the Rivian Foundation, but this is the first confirmation of Rivian’s financial involvement. The majority of the remaining grants fall between $100,000 and $400,000.
Rivian’s philanthropic efforts stem from its October 2021 creation of Forever by Rivian, a 501(c)(4) social welfare organization, and the Rivian Foundation, a private 501(c)(3) foundation. At the time, Rivian allocated over 8 million shares, valued at $643 million, to Forever, along with $20 million in cash. Despite this ambitious announcement, the company has largely stayed silent on the progress of these initiatives until now.
Tax records from 2023 reveal that Forever transferred nearly $25 million to the Rivian Foundation, although only $123,250 was distributed in that year—falling short of the 5% minimum required for private foundations. Of that sum, $60,000 went toward promoting “Natural Climate Solutions,” though no specific organization was named. An additional $91,500 was spent on consulting fees paid to Building Impact Partners, a philanthropy advisory firm based in New York.
The activities of Forever by Rivian remain unclear, as the 501(c)(4) entity has not filed any publicly available tax returns. Its tax-exempt status was automatically revoked by the IRS in May 2024 for failure to file annual returns, raising further questions about the entity’s operations. Rivian has yet to respond to inquiries regarding these developments.
Featured Image courtesy of Rivian
Follow us for more tech news updates.