Annual Report 2025

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WORLD WITHIN

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Annual Report 2025

Annual Report 2025

Annual Report 2025

ANNUAL

REPORT

REPORT

2025

What we built this year

What we built this year

World Within focused on bringing our vision of a fairer future to life.

From investing in cooperative models of ownership, to supporting and creating films, podcasts, and a television series, we brought people together to spotlight the stories and solutions shaping a more just world.

01

our Impact

our Impact

our Impact

In 2025, our impact came to life where stories shifted perspectives and investments reshaped real systems. Here’s how World Within delivered impact this year.

In 2025, our impact came to life where stories shifted perspectives and investments reshaped real systems. Here’s how World Within delivered impact this year.

+$10M moved

+$10M moved

+$10M moved

+$2.5M Investments
+$6.5M Film & Media
+$1M Philanthropy & Advisory

21 stories Told

21 stories Told

21 stories Told

21 stories told in film, TV, podcasts (6 podcasts, 10 TV episodes, 5 films supported)

7 accolades

7 accolades

7 accolades

3 Emmy nominations, 2 Academy Award Shortlists, 1 SXSW Jury Prize, and 1 golden globe nomination

02 A letter from our founder

“We are in the business of building bigger circles.”

“We are in the business of building bigger circles.”

Have you ever been to a dinner party where you didn’t know anyone? That was where we started around this time last year. Half a dozen folks from all over the country gathered around my dinner table in Helena, Montana. Most of us were strangers to each other. And we began planning what we wanted to build together– something important, necessary, and real. 


We had many fierce debates and arguments. At one point, I remember thinking how fragile it all is. How easily any organization or endeavor can fail before it even gets off the ground. It’s hard to do good work, even harder to make it last. It’s much easier to throw in the towel, especially when facing seemingly intractable problems. The critics have far less stressful jobs than builders or storytellers. Or, as Teddy Roosevelt would say, the people “in the arena…

Read Rostam's Letter

Founder & CEO

Rostam Zafari

Rostam Zafari

Founder & CEO

Rostam Zafari

Founder & CEO

Rostam Zafari

Founder & CEO

Read Rostams's Letter

OUR MISSION

OUR MISSION

“The ultimate, hidden truth of the world is that it is something we make — and could just as easily make differently.”

“The ultimate, hidden truth of the world is that it is something we make — and could just as easily make differently.”

-David Graeber

-David Graeber

03

Investments

Investments

Investments

A snapshot of the investments we made this year—communities building a blueprint for what a fairer, more resilient, and more vibrant future can look like.

Each of these investments is a small step toward a larger vision, one where communities have the power to shape their own futures. 

A snapshot of the investments we made this year—communities building a blueprint for what a fairer, more resilient, and more vibrant future can look like.

Each of these investments is a small step toward a larger vision, one where communities have the power to shape their own futures. 

Why We Invest Differently

Why We Invest Differently

At World Within we think that you can’t fix a broken economic system, with a broken financial system. We are not interested in more Private Equity and Venture Capital models that perpetuate the status quo by prioritizing returns for outside shareholders and export surplus out of local economies.

Instead we’re creating a different path, one that channels capital back into local hands. We are replacing extractive capital with investments into community ownership that ensure that control, governance and economic upside flows to the local community. We believe finance should be at the service of life rather than the other way around. 

Emma Ractliffe

Co-founder,
Chief Investment Officer

Read Emma's Letter

This year we invested in 4 community projects that we evaluated through a simple lens:

Four Projects, One Vision

Four Projects, One Vision

1

Old Salt Co-op

Old Salt

Co-op

Montana

A rancher- and worker-owned regenerative meat system rebuilding rural economic vitality.

A rancher- and worker-owned regenerative meat system rebuilding rural economic vitality.

Old Salt Co-op is rewriting the meat economy through a cooperative of ranchers, butchers, and workers. By owning the full supply chain—production, processing, and retail—they’re standing up to industrial giants and proving that the food system can nourish people and care for the land. If successful, their vertically integrated model will play a crucial role in rebuilding community wealth by ensuring that ranching—the backbone of the Helena community—can once again be economically viable.

They are creating a blueprint for an ecologically grounded, community-owned, and community-controlled regenerative meat brand that, if replicated across the country, could transform both our food system and the vitality of rural economies. Our investment is helping them complete their processing facility, scale operations, and expand their capacity for finishing livestock.

2

Ulu Co-op

Ulu Co-op

Hawai‘i

A farmer-owned enterprise restoring breadfruit and revitalizing a resilient, culturally rooted food system.

A farmer-owned enterprise restoring breadfruit and revitalizing a resilient, culturally rooted food system.

Ulu Co-op is a farmer-owned enterprise established in 2016 with the mission to revitalize breadfruit (‘ulu) as a culturally significant, climate-resilient staple crop and to strengthen Hawai‘i’s local food system. In a fragile legacy of colonization and corporate control, Hawai‘i imports 90% of its food. Ulu Co-op is building a farmer-owned, regenerative food system rooted in Hawaiian values and resilience.

Ulu Co-op is a farmer-owned enterprise established in 2016 with the mission to revitalize breadfruit (‘ulu) as a culturally significant, climate-resilient staple crop and to strengthen Hawai‘i’s local food system. In a fragile legacy of colonization and corporate control, Hawai‘i imports 90% of its food. Ulu Co-op is building a farmer-owned, regenerative food system rooted in Hawaiian values and resilience.

They are reclaiming ‘ulu—a culturally important staple crop marginalized by plantation agriculture—and making it central again in homes, schools, and institutions. Our investment supports significant upgrades to their processing infrastructure, provides working capital, and funds additional talent to strengthen the organization’s long-term capacity.

3

Warsaw Federal s&L

Warsaw Federal s&L

Ohio

A 132-year-old mutual bank reinvesting profits locally and expanding inclusive lending.

A 132-year-old mutual bank reinvesting profits locally and expanding inclusive lending.

Warsaw Federal Savings & Loan is a 132-year-old mutual bank based in the Price Hill neighborhood of Cincinnati, Ohio. It is one of only two federally designated Minority Depository Institutions (MDIs) in Ohio and among fewer than 140 nationwide. As a mutual bank, it is owned by its depositors—not shareholders—and reinvests profits into the community rather than extracting them. In the mid-20th century, mutual and community banks were a cornerstone of local economies. Over the last 40 years, however, the number of mutual banks in the U.S. has declined by more than 70%.

Today, Warsaw stands as a rare example of community-centered finance at a time when such institutions have nearly vanished. Its mutual structure, mission-driven leadership, and community-rooted strategy make it not only relevant but essential to the future of inclusive economic infrastructure. Our investment provides long-term capital to strengthen the bank’s balance sheet and expand mission-aligned lending.

4

Revillage

Revillage

California

The Station:
A community-owned “third place” anchoring long-term, locally driven revitalization.

The Station: A community-owned “third place” anchoring long-term, locally driven revitalization.

The Station:
A community-owned “third place” anchoring long-term, locally driven revitalization.

Finally, in the small town of Graton, California, ReVillage is developing The Station—a community-owned coffee shop and public gathering space. Led by ReVillage Development in partnership with the nonprofit Re/Village, The Station will be a local enterprise and everyday “third place,” designed by and for the people of Graton. Across the street from the newly established community-built Town Square, it represents the next step in a vision for long-term, locally controlled revitalization. This is the first in a pipeline of village-scale, community-owned developments in the region.

The Station will serve as proof of concept for how anchor real estate can build interdependence rather than extraction. Our investment matched a one-to-one community raise, serving as an anchor investor to help bring the project to life. Each of these investments is a small step toward a larger vision—one where communities have the power to shape their own futures. We believe this is what finance was meant to do: serve people, strengthen places, and sustain life.

Each investment is a step toward a future where finance serves people, strengthens local culture, and supports life—not extraction.

Each investment is a step toward a future where finance serves people, strengthens local culture, and supports life—not extraction.

04

our stories

our stories

our stories

This year’s stories saw everyday people fighting extraordinary problems. Be it war, corruption, gun violence or climate change, these heroes fought the powers that be to make the impossible very possible, all to make the world a better place.

This year’s stories saw everyday people fighting extraordinary problems. Be it war, corruption, gun violence or climate change, these heroes fought the powers that be to make the impossible very possible, all to make the world a better place.

Read Dylan's Letter

05

How to change
the world Series

How to change
the world Series

How to change
the world Series

How To Change The World is a documentary series that explores the transformative power of social entrepreneurship. Produced by World Within Studios and Religion of Sports, with executive producers Mark Cuban, Gotham Chopra, and Geralyn Dreyfous, the series provides an inside look at a select group of social entrepreneurs making a difference in their communities and the world.

How To Change The World is a documentary series that explores the transformative power of social entrepreneurship. Produced by World Within Studios and Religion of Sports, with executive producers Mark Cuban, Gotham Chopra, and Geralyn Dreyfous, the series provides an inside look at a select group of social entrepreneurs making a difference in their communities and the world.

Dylan Mulick

Co-Founder,
Chief Content Officer

Nicholas Mihm

Creative Producer

Jason Bowers

Head of Production

06

How to change
the world Podcast

How to change
the world Podcast

How to change
the world Podcast

Produced with PRX, How To Change The World features provocative conversations with the heroes among us—mission-driven founders, artists, thought leaders, and those on the front lines building a better world in their own innovative ways.

 

We launched the podcast in October and released our first six episodes in 2025, featuring an incredible lineup of guests. With more than 40,000 listeners in our first six weeks, we’ve been thrilled by the response so far.

Produced with PRX, How To Change The World features provocative conversations with the heroes among us—mission-driven founders, artists, thought leaders, and those on the front lines building a better world in their own innovative ways.

 

We launched the podcast in October and released our first six episodes in 2025, featuring an incredible lineup of guests. With more than 40,000 listeners in our first six weeks, we’ve been thrilled by the response so far.

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New Episode Every other Thursday

Streaming on
apple podcasts & Spotify

Alex Miller

Head of Podcasts

07

SCREENINGS

SCREENINGS

SCREENINGS

From theaters to universities to community centers, we previewed our How To Change The World documentary series to audiences across the country (and France). These special screenings not only entertained and inspired, they sparked dialogue, connection, and calls to action.

From theaters to universities to community centers, we previewed our How To Change The World documentary series to audiences across the country (and France). These special screenings not only entertained and inspired, they sparked dialogue, connection, and calls to action.

Our 2025 Screening Partners

Our 2025 Screening Partners

Radhika Womack

VP, Operations

08

ANNUAL SUMMIT

ANNUAL

SUMMIT

ANNUAL

SUMMIT

World Within hosted its inaugural Summit on June 18-19, 2025 in Helena, Montana. The two-day event was attended by a diverse collective of entrepreneurs, investors, and partners. Day one began with a lovely dinner hosted by the Old Salt Co-Op at The Union restaurant followed by a screening of two episodes from the HOW TO CHANGE THE WORLD documentary series. Day two was held at the beautiful Nava Gardens retreat center and was filled with incredible panels, conversations, breakout sessions and social activities. Here are some highlights:

World Within hosted its inaugural Summit on June 18-19, 2025 in Helena, Montana. The two-day event was attended by a diverse collective of entrepreneurs, investors, and partners. Day one began with a lovely dinner hosted by the Old Salt Co-Op at The Union restaurant followed by a screening of two episodes from the HOW TO CHANGE THE WORLD documentary series. Day two was held at the beautiful Nava Gardens retreat center and was filled with incredible panels, conversations, breakout sessions and social activities. Here are some highlights:

How To Change The World:

The Need for New Narratives

How To Change The World:

The Need for New Narratives

A conversation on elevating new cultural voices and using story as a tool to reimagine broken systems.


Speakers: Acasia Feinberg (CRED), Curtis (CRED), Ibrahim Diallo, and Mo Diallo (Ginjan Bros.)
Moderator: Nicholas Mihm

“When their stories are shared in this way I can't tell you how powerful it is for them to see how it's not only happening in Chicago, but the way that we're building this and thinking about a sort of public health response to gun violence that's being built in Chicago.”  ~ Acasia

Cooperative Ownership in Practice

Cooperative Ownership in Practice

Matt, Joe and Cooper shared how they have each incorporated cooperative ownership into their models. The conversation explored what they are building, why it matters, what is unique about their approach, and how both philanthropic and for-profit capital play a role. 


Speakers: Matt Jorgensen (Revillage), Joe McNeil (Sage), Cooper Hibbard (Old Salt)

Moderator: Rostam Zafari

“Covid really highlighted how fragile our food system is. And we wanted to create something that was resilient, the antithesis to what there is today. The model of the day at its worst is extractive of everything soil, plants, wildlife, water, animals, livestock, the people, the communities, rural communities, schools in rural areas, and then ultimately human health.  ~ Cooper

The State of

Impact Investing

Dorianna, Scott and Ali Motroni shared their perspectives on the latest in the field of impact investing from the perspectives of family offices, foundations, and endowments.


Speakers: Scott Gerdes (Builders Vision), Dorianna Blitt (WB Family Office), Ali Motroni (Align Impact) Moderator: Rostam Zafari 

“I hope that as a part of this cultural shift, that we're participating in this movement that we're hoping to build, we have to be really honest about where the majority of our money is and whether or not we can even call it do no harm anymore.” ~ Dorianna

NO,

LITERALLY

watch

this.

Jacob Mosler

Chief Operating Officer

Jacob Mosler

Chief Operating Officer

09

Advisory

Advisory

Advisory

With the launch of Advisory this year, we're working with family offices, foundations, and HNWI's to translate values into strategy and investments into change.

With the launch of Advisory this year, we're working with family offices, foundations, and HNWI's to translate values into strategy and investments into change.

We work with those ready to move capital to the people and organizations building a better world.

We work with those ready to move capital to the people and organizations building a better world.

Kayuri Bhimani

Director of Advisory

Read Kayuri's Letter

This is how we’ve made that happen.

Strategy & Portfolio Design

We design financial architecture that translates vision into action.

Strategy & Portfolio Design

We design financial architecture that translates vision into action.

Outsourced CIO / Governance 

We oversee allocations, structure vehicles, and make sure every dollar is doing something real.

Outsourced CIO / Governance 

We oversee allocations, structure vehicles, and make sure every dollar is doing something real.

Manager &
Direct Investment Support

We’re not chasing unicorns. We back builders who get it and prioritize community impact over short-term returns.

Manager &
Direct Investment Support

We’re not chasing unicorns. We back builders who get it and prioritize community impact over short-term returns.

Storytelling

We turn investments into stories through film that inspire action and attract allies.

Storytelling

We turn investments into stories through film that inspire action and attract allies.

Learning Journeys

We design immersive trips that connect you with new economic models and place-based investment themes — alongside peers who want to learn by doing 

Learning Journeys

We design immersive trips that connect you with new economic models and place-based investment themes — alongside peers who want to learn by doing 

10

timeline

timeline

timeline

We’re building a movement toward a fairer future, one rooted in a meaningful, grounded, and regenerative economy. There’s no single formula for lasting change, so we focus on steady, intentional steps that create real momentum over time.

We’re building a movement toward a fairer future, one rooted in a meaningful, grounded, and regenerative economy. There’s no single formula for lasting change, so we focus on steady, intentional steps that create real momentum over time.

1

4 INVESTMENTS INTO COMPANIES

2

4 short film projects on our investments 

3

2 major film projects 

4

25 podcast episodes &

1-2 New shows

5

12 film screenings 

6

2 field trips 

7

1 ANNUAL SUMMIT

OUR TIMELINE

This year, the World Within team helped move over $10,000,000+ to community impact through our investments, storytelling, grants, and advisory work. Next year, we seek to increase that number to over $15,000,000+…

Read More

Here’s what we aspire

to accomplish each year: 

1

4 INVESTMENTS INTO COMPANIES

2

4 short film projects on our investments 

3

2 major film projects 

4

25 podcast episodes &

1-2 New shows

5

12 film screenings 

6

2 field trips 

7

1 ANNUAL SUMMIT

OUR TIMELINE

This year, the World Within team helped move over $10,000,000+ to community impact through our investments, storytelling, grants, and advisory work. Next year, we seek to increase that number to over $15,000,000+…

Read More

Here’s what we aspire

to accomplish each year: 

1

4 INVESTMENTS INTO COMPANIES

2

4 short film projects on our investments 

3

2 major film projects 

4

25 podcast episodes  & 1-2 new shows

5

12 film screenings 

6

2 field trips 

7

1 ANNUAL SUMMIT

OUR TIMELINE

This year, the World Within team helped move over $10,000,000+ to community impact through our investments, storytelling, grants, and advisory work. Next year, we seek to increase that number to over $15,000,000+…

Read More

Here’s what we aspire

to accomplish each year: 

1

4 INVESTMENTS INTO COMPANIES

2

4 short film projects on our investments 

3

2 major film projects 

4

25 podcast episodes  & 1-2 new shows

5

12 film screenings 

6

2 field trips 

7

1 ANNUAL SUMMIT

OUR TIMELINE

This year, the World Within team helped move over $10,000,000+ to community impact through our investments, storytelling, grants, and advisory work. Next year, we seek to increase that number to over $15,000,000+…

Read More

Here’s what we aspire

to accomplish each year: 

1

4 INVESTMENTS INTO COMPANIES

2

4 short film projects on our investments 

3

2 major film projects 

4

25 podcast episodes  & 1-2 new shows

5

12 film screenings 

6

2 field trips 

7

1 ANNUAL SUMMIT

OUR TIMELINE

This year, the World Within team helped move over $10,000,000+ to community impact through our investments, storytelling, grants, and advisory work. Next year, we seek to increase that number to over $15,000,000+…

Read More

Here’s what we aspire

to accomplish each year: 

1

4 INVESTMENTS INTO COMPANIES

2

4 short film projects on our investments 

3

2 major film projects 

4

25 podcast episodes  & 1-2 new shows

5

12 film screenings 

6

2 field trips 

7

1 ANNUAL SUMMIT

OUR TIMELINE

This year, the World Within team helped move over $10,000,000+ to community impact through our investments, storytelling, grants, and advisory work. Next year, we seek to increase that number to over $15,000,000+…

Read More

Here’s what we aspire

to accomplish each year: 

$5m Investments

$5m Investments

$5m Investments

$5M Film & Media

$5M Film & Media

$5M Film & Media

$5M Philanthropy

& Advisory

$5M Philanthropy

& Advisory

$5M Philanthropy

& Advisory

11

ACKNOWLEDGEMENTS

ACKNOWLEDGEMENTS

ACKNOWLEDGeMENTS

Gratitude to the partners, collaborators, and communities who made this year possible. None of this work happens alone.

Gratitude to the partners, collaborators, and communities who made this year possible. None of this work happens alone.

PARTNERS

PARTNERS

PARTNERS

PARTNERS

PARTNERS

OUR TEAM

OUR TEAM

OUR TEAM

OUR TEAM

OUR TEAM

ADVISORY BOARD

ADVISORY BOARD

ADVISORY

BOARD

ADVISORY BOARD

ADVISORY BOARD

STAY

IN

TOUCH

WITH

US

“When a complex system is far from equilibrium, small islands of coherence in a sea of chaos have the capacity to shift the entire system to a higher order.” 
- Ilya Prigogine, Nobel Laureate

STAY

IN

TOUCH

WITH

US

“When a complex system is far from equilibrium, small islands of coherence in a sea of chaos have the capacity to shift the entire system to a higher order.” 
- Ilya Prigogine, Nobel Laureate

STAY

IN

TOUCH

WITH

US

“When a complex system is far from equilibrium, small islands of coherence in a sea of chaos have the capacity to shift the entire system to a higher order.” 
- Ilya Prigogine, Nobel Laureate

STAY

IN

TOUCH

WITH

US

“When a complex system is far from equilibrium, small islands of coherence in a sea of chaos have the capacity to shift the entire system to a higher order.” 
- Ilya Prigogine, Nobel Laureate

STAY

IN

TOUCH

US

“When a complex system is far from equilibrium, small islands of coherence in a sea of chaos have the capacity to shift the entire system to a higher order.” 
- Ilya Prigogine, Nobel Laureate

What we built this year

World Within focused on bringing our vision of a fairer future to life.

From investing in cooperative models of ownership, to supporting and creating films, podcasts, and a television series, we brought people together to spotlight the stories and solutions shaping a more just world.