2013-05-14T17:20:59-07:00 2012-06-30 990 2011-07-01 942747262 SAN FRANCISCO BALLET ENDOWMENT FOUNDATION SANF 4158615600 455 Franklin Street San Francisco CA 94102 Kimberly Carim 4158615600 2013-05-14 2011 2016-02-24 21:20:13Z James D Marver 455 Franklin Street San Francisco CA 94102 24477700 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. 11 10 0 0 0 0 1059034 5871700 2500 2450 3409443 3887780 0 0 4470977 9761930 4116467 4607711 0 0 269622 556424 11747 7378 550456 265061 315813 4662897 5487326 -191920 4274604 94699331 88953381 14209773 10632723 80489558 78320658 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 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 that the Association may continue it's mission to share the joy of dance with the widest possible audience in the community and around the globe. 0 0 4782664 4607711 2450 Management and Oversight-Holding and managing endowment funds for the benefit of San Francisco Ballet Association ($4,607,711 distributed). 0 0 0 4782664 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 1 0 1 1 0 0 0 0 1 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Kimberly O Carim 4158615600 455 Franklin Street San Francisco CA 94102 Hank Holland 2 X X 0 0 0 George B James 2 X 0 0 0 Thomas E Horn 5 X X 0 0 0 Chris Hellman 2 X 0 0 0 James D Marver 5 X X 0 0 0 Richard C Barker 2 X 0 0 0 Robert M Smelick 2 X 0 0 0 Susan S Briggs 2 X 0 0 0 Carole Obley 2 X 0 0 0 J Stuart Francis 2 X 0 0 0 John S Osterweiss 2 X 0 0 0 Kimberly O Carim 9 X 0 162921 8236 Jennifer F Kovacevich 5 X 0 58801 7366 Elizabeth Lani 28 X 0 83038 7617 Thomas William Flynn 15 X 0 203584 9441 Sarah Rhyins 4 X 0 113420 7609 Natalie Quan 7 X 0 111138 8601 0 732902 48870 0 0 1 0 0 0 0 0 0 0 5871700 47493 5871700 Donor Appreciation Events 711120 2450 2450 0 0 0 0 0 0 2450 1652679 0 0 1652679 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14583678 2367193 12848577 1867193 1735101 500000 2235101 0 0 2235101 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9761930 2450 0 3887780 4607711 4607711 0 0 0 0 0 0 128556 0 45235 83321 0 0 0 0 341942 0 44752 297190 6417 0 799 5618 48042 0 11704 36338 31467 0 6559 24908 0 0 0 0 0 0 0 0 37740 0 37740 0 0 0 0 0 7378 7378 172697 172697 0 0 15679 2225 0 13454 13350 0 0 13350 21649 31 27 21591 9695 0 7100 2595 0 0 0 0 1517 0 0 1517 1913 0 0 1913 0 0 0 0 25690 0 0 25690 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Credit Card Fees 2636 0 0 2636 13247 0 290 12957 5487326 4782664 154206 550456 272440 92621 2971246 1716402 3284375 5223546 58154436 45359239 25767024 32061867 4249810 4499706 94699331 88953381 20422 30253 14189351 10602470 14209773 10632723 X 20716169 16072925 8051229 10496628 51722160 51751105 80489558 78320658 94699331 88953381 X 4274604 -6443504 X 0 1 1 X 0 X X X 0 0 0 San Francisco Ballet Association 941415298 501(c)(3) 1 1 1 4607711 1 4607711 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 86892706 3697437 -2418581 0 8309164 724891 79137507 77933384 1731151 12254515 0 4075418 950926 86892706 74005632 1755909 7570539 0 4074430 1324266 77933384 87451612 4422933 -12646393 0 4094480 1128040 74005632 0.33 0.6 0.07 0 0 Daedalus Partners, LP 8701396 F Canyon Value Realization Fund 4928689 F Aurelius Capital International, Ltd. 3867579 F Eton Park Overseas Fund 4605070 F Abram Capital Partners 5233905 F BIL, Ltd. 1057779 F Watershed Capital Institutional Partners, LP 1897583 F 250 Post Street Partnership 1769866 F 32061867 Dividends Receivables 66307 Split Interest Agreements 3375022 Pooled Income Fund 270346 Charitables Gift Annuities 788031 4499706 Charitable Gift Annuity Payment Liability 585124 Due to San francisco Ballet Association 10017346 10602470 SchD_P05_S00_L04 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 that the Association may continue it's mission to share the joy of dance with the widest possible audience in the community and around the globe. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The Foundation has been classified as a publicly supported, tax-exempt organizations under Section 501(c)(3) of the Internal Revenue Code, and are exempt from California franchise taxes under Revenue and Taxation Code Section 23701(d). Ballet management believes that no liabilities are required to accrue for uncertain tax positions as of June 30, 2012. Central America and the Caribbean 0 0 Investments 3867579 Central America and the Caribbean 0 0 Investments 4928689 Central America and the Caribbean 0 0 Investments 4605070 Central America and the Caribbean 0 0 Investments 1057779 0 0 14459117 1 0 0 0 0 0 1 San Francisco Ballet Association 455 Franklin Street San Francisco CA 94127 941415298 501(c) 3 4607711 FMV Endowment operating transfers are approved and budgeted in accordance with the organization's spending policy. Use of grant funds is monitored by the organization's CFO through review and audit of financial statements 1 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 Use of grant funds is monitored by the organization's CFO through review and audit of financial statements 0 0 0 0 0 0 0 0 0 Kimberly O Carim 0 162921 0 0 0 8236 0 0 0 0 0 171157 0 0 Thomas William Flynn 0 203584 0 0 0 9441 0 0 0 0 0 213025 0 SchJ_P01_S00_L03 Schedule J, Part I, Line 3 The San Francisco Ballet Endowment Foundation relies on a related organization (San Francisco Ballet Association) to determine compensation for the organization's CFO. The related organization uses a compensation committee, written employment contracts, and approval by the board or compensation committee to establish the compensation. SchJ_P02_S00_L00 Schedule J, Part II Form 990 requests the total compensation paid by the Organization and any related Organizations. The amounts reflected on this schedule is the amount 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 Daedalus Partners LLP The President of the organization is a general partner of Daedalus. 1000000 The organization has a non marketable limited partnership investment in Daedalus Partners, LLP. The Ballet requested a $1,000,000 withdrawal from the limited partnership investment and received the funds on April 1, 2012. 0 Osterweis Strategic Income Funds (OSTIX) Investment management entity owned by John Osterweis, President 5073544 Market value of investment in OSTIX at 6/30/12 0 SchL_P04_S00_L00 Schedule L, Part IV Effective July 1, 2000, the Endowment Foundation entered into a limited partnership investment called Daedalus Partners,L.P. (the "Partnership"). The partnership is managed by Osterweis Capital Management, who is also the partnership's general partner. As of June 30, 2012, Mr. Osterweis has a financial interest in both the General Partner (39.02 % of the voting class of units) as well as partnership (19.02% including his direct investment in the partnership and his participation as a member of the General Partner). The General partner received a management fee with respect to each Limited Partners of 1.00 % (.025% per quarter) of the value of that Limited Partner's Capital Account as well as performance fees. The Daedalus Fund terminated on December 31, 2012. For Daedalus Partners LLP line 1(b) and 1 (d) : The President Emerutus of the organization is a general partner of Daedalus. The organization has a non marketable limited partnership investment in Daedalus Partners, LLP. The Ballet requested a $1,000,000 withdrawal from the limited partnership investment and received the funds on April 1, 2012. For Osterweiss Strategic Income Funds line 2(b) and 2 (d):Investment management entity owned by John Osterweis, President Emeritus. Market value of investment in OSTIX at 6/30/12 is $5,073,544 X 4 47493 FMV X In-kind occupancy 1 0 FMV 0 0 1 0 SchM_P01_S00_L33 Schedule M, Part I, Line 33 A total of 4 stock gifts were received, in which 3 of the stock gifts were were received in payment of Pledges receivable in existence prior to the beginning and during of the fiscal year. The other non-cash contribution was in-kind service revenue which was not included in Form 990 revenue. F990_P03_S00_L01 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 that the Association may continue it's mission to share the joy of dance with the widest possible audience in the community and around the globe. F990_P06_S0A_L06 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 trustes shall automatically cease to be a member of the foundation. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a Members shall have, in addition to any other rights which may be granted to them under the By-Laws or by 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). F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b 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 Organization's Trustee Intranet website and Trustees were notified in writing of the availability of the form 990 for their review. F990_P06_S0B_L12c 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. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The only compensated officer of the organization 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. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Due to the age of the Organization, Form 1023 is currently unavailable for the general public and the Organization is exempt from the requirement to provide Form 1023, as it was filed prior to the July 15, 1987 requirement date. The Organization makes its audited financial statements for the last three years available to the public via its website. Form 990, governing documents and conflict of interest policy is also available upon request. F990_P11_S00_L05 Form 990, Part XI, Line 5 Other changes in Net Assets consists of $6,265,151 in unrealized loss, receivable write off of $5,983 and $172,370 in unrealized losses from change in present value for a receivable from prior year received in the current year. 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