﻿<?xml version="1.0" encoding="utf-8"?>
<Return returnVersion="2015v3.0" xsi:schemaLocation="http://www.irs.gov/efile" xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2017-01-30T10:15:40-08:00</ReturnTs>
    <TaxPeriodEndDt>2016-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>McGilloway Ray Brown &amp; Kaufman</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>2511 Garden Road Suite A-180</AddressLine1Txt>
        <CityNm>Monterey</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>939405381</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2015-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>770587271</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>Karen &amp; Rick Hargrove Foundation</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>KARE</BusinessNameControlTxt>
      <PhoneNum>8317222244</PhoneNum>
      <USAddress>
        <AddressLine1Txt>100 Oceanview Drive</AddressLine1Txt>
        <CityNm>La Selva Beach</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>95076</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Richard Hargrove</PersonNm>
      <PersonTitleTxt>President &amp; Dir</PersonTitleTxt>
      <SignatureDt>2017-01-19</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>Larry W Rollins CPA</PreparerPersonNm>
      <PTIN>P00095037</PTIN>
      <PhoneNum>8313733337</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2015</TaxYr>
    <BuildTS>2021-01-29 14:40:06Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="4">
    <IRS990PF documentId="IRS990PF" referenceDocumentId="GeneralExplanation" softwareId="15000324" softwareVersionNum="2015v3.0">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>491189</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>11</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>11</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>9346</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>9346</DividendsNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>9357</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>9357</TotalNetInvstIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule">766</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesChrtblPrpsAmt>766</AccountingFeesChrtblPrpsAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">10</TaxesRevAndExpnssAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule AmortizationSchedule">-168</OtherExpensesRevAndExpnssAmt>
        <TotOprExpensesRevAndExpnssAmt>608</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>0</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>766</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>10000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>10000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>10608</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>0</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>10766</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-1251</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>9357</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>148446</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>147122</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>147122</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>94355</CorporateStockBOYAmt>
        <CorporateStockEOYAmt>94355</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>344067</CorporateStockEOYFMVAmt>
        <TotalAssetsBOYAmt>242801</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>241477</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>491189</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>73</AccountsPayableBOYAmt>
        <TotalLiabilitiesBOYAmt>73</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <RetainedEarningBOYAmt>242728</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>241477</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>242728</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>241477</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>242801</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>241477</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>242728</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-1251</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>241477</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>241477</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>1122</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>440291</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.00255</DistributionYr1Rt>
        <NetVlNoncharitableAssetsYr2Amt>382184</NetVlNoncharitableAssetsYr2Amt>
        <NetVlNoncharitableAssetsYr3Amt>317722</NetVlNoncharitableAssetsYr3Amt>
        <AdjustedQlfyDistriYr4Amt>70000</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>340048</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.20585</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>25000</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>339924</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.07355</DistributionYr5Rt>
        <TotalDistributionRt>0.281947</TotalDistributionRt>
        <AverageDistributionRt>0.056389</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>482051</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>27182</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>94</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>27276</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>10766</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>187</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>187</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>187</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>1117</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>1117</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>930</OverpaymentAmt>
        <AppliedToESTaxAmt>930</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>false</Form990TFiledInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>CA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>McGilloway Ray Brown &amp; Kaufm</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>8313733337</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>2511 Garden Road Suite A-180</AddressLine1Txt>
          <CityNm>Monterey</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>93940</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <UndistrIncmSect4942a2NotAppInd>false</UndistrIncmSect4942a2NotAppInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <ExcessBusinessHoldingsInd>false</ExcessBusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>false</TransactionsFailToQlfyAsExcInd>
        <MaintainedExpenditureRspnsInd>false</MaintainedExpenditureRspnsInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <ProceedsOrNetIncomeInd>false</ProceedsOrNetIncomeInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Richard Hargrove</PersonNm>
          <USAddress>
            <AddressLine1Txt>100 Oceanview Drive</AddressLine1Txt>
            <CityNm>La Selva Beach</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>95067</ZIPCd>
          </USAddress>
          <TitleTxt>President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>8.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Karen Hargrove</PersonNm>
          <USAddress>
            <AddressLine1Txt>100 Oceanview Drive</AddressLine1Txt>
            <CityNm>La Selva Beach</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>95067</ZIPCd>
          </USAddress>
          <TitleTxt>TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>8.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>341064</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>148328</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>489392</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>489392</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>7341</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>482051</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>24103</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>24103</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>187</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>187</TotalTaxAmt>
        <DistributableBeforeAdjAmt>23916</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>23916</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>23916</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>10766</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>10766</QualifyingDistributionsAmt>
        <AdjustedQualifyingDistriAmt>10766</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>23916</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr5Amt>8123</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>53071</ExcessDistributionCyovYr4Amt>
        <TotalExcessDistributionCyovAmt>61194</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>10766</QualifyingDistributionsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>10766</AppliedToCurrentYearAmt>
        <ExcessDistriCyovAppCYCorpusAmt>13150</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>13150</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>48044</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>48044</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>48044</ExcessFromYear4Amt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>Richard Hargrove</ContributingManagerNm>
        <ContributingManagerNm>Karen Hargrove</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Channel Education Foundation Inc</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>600 3rd Ave Room 1202</AddressLine1Txt>
            <CityNm>New York</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10016</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Educational Support</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>10000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>11</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>9346</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>9357</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>9357</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="AccountingFeesSchedule" softwareId="15000324" softwareVersionNum="2015v3.0">
      <AccountingFeesDetail>
        <CategoryTxt>Accounting fees</CategoryTxt>
        <Amt>766</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>766</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule" softwareId="15000324" softwareVersionNum="2015v3.0">
      <OtherExpensesScheduleGrp>
        <Desc>Refunds</Desc>
        <RevenueAndExpensesPerBooksAmt>-168</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="15000324" softwareVersionNum="2015v3.0">
      <TaxesDetail>
        <CategoryTxt>Franchise tax board - 199</CategoryTxt>
        <Amt>10</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>