2015-05-15T14:32:19-07:00 2014-06-30 990 2013-07-01 942747262 SAN FRANCISCO BALLET ENDOWMENT FOUNDATION SANF 4158615600 455 Franklin Street San Francisco CA 94102 Kimberly Carim CFO 4158656590 2015-05-15 2013 2016-02-25 16:41:14Z James D Marver 455 Franklin Street San Francisco CA 94102 56961936 0 X http://www.sfballet.org/donate/endowment_foundation X 1980 CA The San Francisco Ballet Endowment Foundation was established in 1980 as a separate nonprofit public benefit corporation for the purpose of holding and managing endowment funds for the benefit of the San Francisco Ballet Association. 9 7 0 9 20508 17557 7659753 4066194 2775 2000 11183117 12980198 0 8947 18845645 17057339 4798713 4796373 0 0 518384 540834 6200 6000 619204 631914 504321 5955211 5847528 12890434 11209811 103888938 116731098 12676988 12846546 91211950 103884552 X The San Francisco Ballet Endowment Foundation was established in 1980 and in 1981 made its first distribution to the San Francisco Ballet Association (the Association), a California nonprofit public benefit corporation. Since then, strong investment returns and contributions, primarily from estates and from donors have grown significantly and increased the importance of the (Continued on Schedule O, Statement 1) 0 0 5067452 4796373 2000 Management and oversight-holding of endowment funds for the benefit of San Francisco Ballet Association 0 0 0 5067452 1 1 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 9 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 CA X Kimberly O Carim 4158615600 455 Franklin Street San Francisco CA 94102 X James D Marver President 5 5 X X 0 0 0 John S Osterweis President Emeritus 2 10 X 0 0 0 Hank J Holland Vice President 5 0 X X 0 0 0 Thomas E Horn Treasurer 5 2 X X 0 0 0 Richard C Barker Director 2 2 X 0 0 0 Susan S Briggs Director 2 2 X 0 0 0 J Stuart Francis Director 2 2 X 0 0 0 Hilary Pierce Director 2 0 X 0 0 0 Larissa Roesch Director 2 0 X 0 0 0 Robert M Smelick Director 2 5 X 0 0 0 Kimberly Carim Chief Financial Officer 10 40 X 0 168922 10575 Jennifer F Kovacevich Secretary 5 35 X 0 62679 8007 Elizabeth Lani Assistant Secretary 32 8 X 0 82702 8878 Laura Simpson Secretary 0 0 X 0 0 0 Thomas Flynn Director of Development 22 28 X 0 224884 13421 Jennifer J Mewha Associate Director of Development 10 30 X 0 119096 7418 Fermin Nasol Principal Gifts Officer 10 30 X 0 110719 9574 Natalie Quan Controller 7 43 X 0 116021 9208 0 885023 67081 0 0 1 0 Hall Capital Partners LLC One Maritime Plaza Suite 500 San Francisco CA 94111 Investment Management 221772 1 0 0 0 0 0 4066194 990380 4066194 Donor Appreciation Events 711120 2000 2000 0 0 0 0 0 0 2000 2296980 0 20508 2276472 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 50587815 0 39904597 0 10683218 0 10683218 0 0 10683218 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Expense Reimbursement 711120 8947 0 0 8947 0 0 0 0 8947 17057339 2000 20508 12968637 4796373 4796373 0 0 0 0 0 0 109209 0 36575 72634 0 0 0 0 326418 0 36694 289724 9997 0 1589 8408 65877 0 9627 56250 29333 0 5120 24213 0 0 0 0 541 0 0 541 48305 0 48305 0 0 0 0 0 6000 6000 266284 266284 0 0 91385 2560 0 88825 8426 0 0 8426 17983 0 36 17947 7100 0 7100 0 0 0 0 0 675 0 0 675 761 0 59 702 0 0 0 0 23972 0 0 23972 15217 0 15217 0 0 0 0 0 0 0 0 0 0 0 0 0 Miscellaneous 5396 2235 550 2611 Dues & Subscriptions 16262 0 0 16262 Credit Card Fees 2014 0 0 2014 5847528 5067452 160872 619204 37000 253689 6148994 2387166 5505113 4921180 52009990 48397903 34354004 54807030 5833837 5964130 103888938 116731098 26434 56532 12650554 12790014 12676988 12846546 X 22282763 32183875 12894108 11879057 56035079 59821620 91211950 103884552 103888938 116731098 X 11209811 1261755 0 0 0 201036 X 0 1 X 1 0 X X X 0 0 0 San Francisco Ballet Association 941415298 501(c)(3) 1 1 1 4796373 1 4796373 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 92512987 5282160 14268776 0 5814597 381554 105867772 79137507 4316905 15672612 0 4750193 1863844 92512987 86892706 3697437 -2418581 0 8309164 724891 79137507 77933384 1731151 12254515 0 4075418 950926 86892706 74005632 1755909 7570539 0 4074430 1324266 77933384 0.41 0.52 0.07 0 0 Alternative Investments 50807509 F Exchange Traded Fund 3999521 F 54807030 Dividends Receivable 54029 Pooled Income Fund 296524 Split Interest Agreements 1952524 Charitable Gift Annuities 3661053 5964130 Due to San Francisco Ballet Association 11296969 Charitable Gift Annuity Payment 1493045 12790014 X Schedule D, Part V, Line 4 The Foundation is incorporated as a separate nonprofit public benefit corporation for the purpose of holding and managing endowment funds for the benefit of the Association. It seeks to provide the Association with a reliable source of support while protecting its investments against inflation and wide swings in the capital markets so that the Association may continue its mission to share the joy of dance with the widest possible audience in the community and around the globe. Schedule D, Part X, Line 2 As required by accounting principles generally accepted in the United States of America (US GAAP), the San Francisco Ballet Endowment Foundation has identified and evaluated its significant tax positions for which the statute of limitations remain open and determined that there is no material unrecognized benefit or liability to be recorded. The open tax years ended June 30, 2011 through June 30, 2014 for federal tax purposes and the years ended June 30, 2010 through June 30, 2014 for California tax purposes. There have been no material changes in unrecognized benefits as of June 30, 2014, nor are any material changes anticipated in the twelve months following June 30, 2014. Central America and the Caribbean 0 0 Investments 36399965 0 0 36399965 1 0 1 1 1 0 1 San Francisco Ballet Association 455 Franklin Street San Francisco CA 94102 951415298 501(c)3 4796373 Endowment operating transfers are approved and budgeted in accordance with the Foundation's spending policy. Use of grant funds is monitored by the Foundation's CFO through review and audit of financial statements 1 0 Schedule I, Part I, Line 2 The purpose of the San Francisco Ballet Endowment Foundation is to hold and manage endowment funds for the benefit of the San Francisco Ballet Association. Grants are made to support the related tax exempt organization's exempt purpose. Endowment operating transfers are approved and budgeted in accordance with the Foundation's spending policy. Use of grant funds is monitored by the Foundation's CFO through review and audit of financial statements. 0 0 0 0 0 0 0 0 0 Kimberly Carim Chief Financial Officer 0 168922 0 0 0 0 0 2621 0 7954 0 179497 0 0 Thomas Flynn Director of Development 0 224884 0 0 0 0 0 4103 0 9318 0 238305 0 0 Schedule J, Part II Form 990 requests the total compensation paid by the Organization and any related Organizations. The amounts reflected on this schedule are the amounts paid by the San Francisco Ballet Association. Compensation to the listed person related to the Foundation is based on a percentage of hours worked during the year. Osterweis Strategic Income Funds (OSTIX) Investment management 4564739 Market value of investment in OSTIX 0 Dodge & Cox Funds A board member is a partner and shareholder of privately-held Dodge & Cox 37313845 Market value of investment in Dodge & Cox Funds 0 Schedule L, Part IV Osterweis Strategic Income Funds: Board Director and President Emeritus John Osterweis owns Osterweis Capital Management which manages the publicly-traded Osterweis Strategic Income Fund (OSTIX). The market value of the Endowment Foundation's investments in publicly-traded OSTIX at 6/30/14 is $4,564,739. Dodge & Cox Funds: Board Director Larissa Roesch is a partner and shareholder of privately-held Dodge & Cox, of which the Endowment Foundation holds several publicly-traded mutual funds (DODIX, DODBX and DODWX). The market value of the Endowment Foundation's investments in Dodge & Cox publicly-traded mutual funds at 6/30/14 totals $37,313,845. X 16 990380 FMV 0 0 1 0 Form 990, Part III, Line 1 The San Francisco Ballet Endowment Foundation was established in 1980 and in 1981 made its first distribution to the San Francisco Ballet Association (the Association), a California nonprofit public benefit corporation. Since then, strong investment returns and contributions, primarily from estates and from donors have grown significantly and increased the importance of the endowment to the Association's revenue stream. The Foundation is incorporated as a separate nonprofit public benefit corporation for the purpose of holding and managing endowment funds for the benefit of the Association. It seeks to provide the Association with a reliable source of support while protecting its investments against inflation and wide swings in the capital markets so that the Association may continue its mission to share the joy of dance with the widest possible audience in the community and around the globe. Form 990, Part VI, Section A, Line 6 The members of the Foundation shall be those persons, and only those persons, who are from time to time members of the San Francisco Ballet Association's Board of Trustees, and each such person upon election or appointment to said Board of Trustees shall automatically become a member of the Foundation and upon ceasing to be a member of said Board of Trustees shall automatically cease to be a member of the Foundation. Form 990, Part VI, Section A, Line 7a Trustees of the Foundation are elected by the Members for a term of three years. Form 990, Part VI, Section A, Line 7b Members shall have, in addition to any other rights which may be granted to them under the By-Laws or by the law, the right to vote (1) for the election of Directors, (2) on a disposition of all or substantially all of the Foundation's assets, (3) on a merger of the Foundation with another corporation, (4) on a dissolution of the Foundation, (5) on an amendment of the Articles of Incorporation and (6) on an amendment of these By-Laws (unless the By-Law amendment is approved by the Board alone in accordance with the terms of these By-Laws). Form 990, Part VI, Section B, Line 11b Line 11a The Foundation provided a complete copy of this Form 990 to all members of its governing body with a redaction of donor name and address from Form 990, Schedule B, at the request of the donor. The Form 990 was reviewed and approved at a meeting of the Audit Committee. Subsequent to the review, the Form 990 was posted on the Foundation's Trustee Intranet website and Trustees were notified in writing of the availability of the Form 990 for their review. Form 990, Part VI, Section B, Line 12c The Foundation distributes the policy and related questionnaire to board members at the beginning of each board year. Return of the questionnaire is monitored and enforced by the board relations manager. Returned questionnaires are reviewed by the CFO for any potential issues or required disclosures. Form 990, Part VI, Section B, Line 15 The only compensated officer of the Foundation is compensated by a related party, San Francisco Ballet Association. The Association's process for determining the compensation of the Chief Financial Officer involved analysis of the compensation by the compensation committee. Form 990, Part VI, Section C, Line 19 Due to the age of the Foundation, Form 1023 is currently unavailable for the general public and the Foundation is exempt from the requirement to provide Form 1023, as it was filed prior to the July 15, 1987 requirement date. The Foundation makes its audited financial statements for the last six years available to the public via its website. Form 990, 990-T, governing documents and conflict of interest policy is also available upon request. Form 990, Part VII, Section A, Line 1a Jennifer F Kovacevich was secretary until 12/06/2013, then was replaced by Laura Simpson on 01/06/2014. Robert M Smelick was a Director until 04/09/2014 when he resigned from the Board of Directors. Form 990, Part XI, Line 9 Other changes in Net Assets consist of receivable write-offs of -$61,016, and $262,053 in change in value of receivables San Francisco Ballet Association 455 Franklin Street San Francisco CA 94102 941415298 Ballet CA 501(c)(3) 7 N/A 0 Charitable Gift Annuities (25) Various Various CA 94102 Investment company CA N/A T Charitable Gift Annuity (1) Arbors of San Marino 7425 Xavier St Apt 126 Westminster CO 80030 Investment company CO N/A T Charitable Remainder Unitrusts (4) Various Various CA 94102 Investment company CA N/A T Charitable Remainder Unitrust (1) 10005-113 Place North Largo FL 33773 Investment company FL N/A T Charitable Remainder Unitrust (1) PO BOX 678 Columbia MO 652050678 Investment company MT N/A T Pooled Income Fund (11) Various Various CA 94102 Investment company CA N/A T Poolied Income Fund (1) 740 S Federal St Apt 209 Chicago IL 606051865 Investment company IL N/A T Pooled Income Fund (1) PO Box 509 Talent OR 975400509 Investment company OR N/A T 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 1 1 1 We required additional time to compile the information necessary for a complete and accurate return.