﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2011v1.2" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2012-10-29T14:34:06-07:00</Timestamp>
    <TaxPeriodEndDate>2011-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>Price Paige and Company</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>677 Scott Avenue</AddressLine1>
        <City>Clovis</City>
        <State>CA</State>
        <ZIPCode>93612</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2011-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>770478025</EIN>
      <Name>
        <BusinessNameLine1>Fresno Regional Foundation</BusinessNameLine1>
        <BusinessNameLine2>A Corporation</BusinessNameLine2>
      </Name>
      <NameControl>FRES</NameControl>
      <Phone>5592265600</Phone>
      <USAddress>
        <AddressLine1>5250 North Palm Avenue</AddressLine1>
        <City>Fresno</City>
        <State>CA</State>
        <ZIPCode>93704</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>DAN DESANTIS</Name>
      <Title>CEO</Title>
      <DateSigned>2012-10-29</DateSigned>
      <AuthorizeThirdParty>true</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>Fausto Hinojosa CPA CFE</Name>
      <Phone>5592999540</Phone>
    </Preparer>
    <TaxYear>2011</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="8">
    <IRS990 documentId="IRS990" referenceDocumentId="IRS990ScheduleO" softwareId="11000144" softwareVersion="2011v1.2">
      <GrossReceipts>12359199</GrossReceipts>
      <GroupReturnForAffiliates>false</GroupReturnForAffiliates>
      <AllAffiliatesIncluded>false</AllAffiliatesIncluded>
      <Organization501c3>X</Organization501c3>
      <WebSite>www.fresnoregfoundation.org</WebSite>
      <TypeOfOrganizationCorporation>X</TypeOfOrganizationCorporation>
      <YearFormation>1966</YearFormation>
      <StateLegalDomicile>CA</StateLegalDomicile>
      <ActivityOrMissionDescription>TO IMPROVE THE QUALITY OF LIFE IN THE CENTRAL SAN JOAQUIN VALLEY BY PROMOTING CHARITABLE GIVING AND ASSISTING DONORS AND ADMINISTERING FUNDS.</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>15</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>15</NbrIndependentVotingMembers>
      <TotalNbrEmployees>8</TotalNbrEmployees>
      <TotalGrossUBI>0</TotalGrossUBI>
      <ContributionsGrantsPriorYear>8010046</ContributionsGrantsPriorYear>
      <ContributionsGrantsCurrentYear>11627428</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenuePriorYear>642212</ProgramServiceRevenuePriorYear>
      <ProgramServiceRevenueCY>641751</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>2245874</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>90020</InvestmentIncomeCurrentYear>
      <OtherRevenueCurrentYear>0</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>10898132</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>12359199</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsPriorYear>5326033</GrantsAndSimilarAmntsPriorYear>
      <GrantsAndSimilarAmntsCY>3530932</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersCY>0</BenefitsPaidToMembersCY>
      <SalariesEtcPriorYear>602059</SalariesEtcPriorYear>
      <SalariesEtcCurrentYear>577283</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpCY>0</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>301213</TotalFundrsngExpCurrentYear>
      <OtherExpensePriorYear>978947</OtherExpensePriorYear>
      <OtherExpensesCurrentYear>1114165</OtherExpensesCurrentYear>
      <TotalExpensesPriorYear>6907039</TotalExpensesPriorYear>
      <TotalExpensesCurrentYear>5222380</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>3991093</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>7136819</RevenuesLessExpensesCY>
      <TotalAssetsBOY>49504872</TotalAssetsBOY>
      <TotalAssetsEOY>55695371</TotalAssetsEOY>
      <TotalLiabilitiesBOY>6893726</TotalLiabilitiesBOY>
      <TotalLiabilitiesEOY>5947406</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>42611146</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>49747965</NetAssetsOrFundBalancesEOY>
      <MissionDescription>TO IMPROVE THE QUALITY OF LIFE IN THE CENTRAL SAN JOAQUIN VALLEY BY PROMOTING CHARITABLE GIVING AND ASSISTING DONORS AND ADMINISTERING FUNDS.</MissionDescription>
      <SignificantNewProgramServices>false</SignificantNewProgramServices>
      <SignificantChange>false</SignificantChange>
      <Expense>4513075</Expense>
      <Grants>3530932</Grants>
      <Description>SUPPORT FOR VARIOUS COMMUNITY SERVICES, INCLUDING EDUCATION, HEALTH, CULTURAL AND ENVIRONMENTAL PROGRAMS.</Description>
      <TotalProgramServiceExpense>4513075</TotalProgramServiceExpense>
      <DescribedIn501C3 referenceDocumentId="IRS990ScheduleA">true</DescribedIn501C3>
      <ScheduleBRequired referenceDocumentId="IRS990ScheduleB">true</ScheduleBRequired>
      <PoliticalActivities>false</PoliticalActivities>
      <LobbyingActivities>false</LobbyingActivities>
      <SubjectToProxyTax>false</SubjectToProxyTax>
      <DonorAdvisedFunds referenceDocumentId="IRS990ScheduleD">true</DonorAdvisedFunds>
      <ConservationEasements referenceDocumentId="IRS990ScheduleD">false</ConservationEasements>
      <CollectionsOfArt referenceDocumentId="IRS990ScheduleD">false</CollectionsOfArt>
      <CreditCounseling referenceDocumentId="IRS990ScheduleD">false</CreditCounseling>
      <TermOrPermanentEndowments referenceDocumentId="IRS990ScheduleD">true</TermOrPermanentEndowments>
      <ReportLandBldgEquip referenceDocumentId="IRS990ScheduleD">true</ReportLandBldgEquip>
      <ReportInvestOthSecurities referenceDocumentId="IRS990ScheduleD">false</ReportInvestOthSecurities>
      <ReportProgRelInvest referenceDocumentId="IRS990ScheduleD">false</ReportProgRelInvest>
      <ReportOtherAssets referenceDocumentId="IRS990ScheduleD">true</ReportOtherAssets>
      <ReportOtherLiabilities referenceDocumentId="IRS990ScheduleD">true</ReportOtherLiabilities>
      <ReportFin48Footnote referenceDocumentId="IRS990ScheduleD">false</ReportFin48Footnote>
      <IndependentAuditFinancialStmt referenceDocumentId="IRS990ScheduleD">true</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt referenceDocumentId="IRS990ScheduleD">false</ConsolidatedAuditFinancialStmt>
      <School>false</School>
      <ForeignOffice>false</ForeignOffice>
      <ForeignActivities>false</ForeignActivities>
      <MoreThan5000KToOrganizations>false</MoreThan5000KToOrganizations>
      <MoreThan5000KToIndividuals>false</MoreThan5000KToIndividuals>
      <ProfessionalFundraising>false</ProfessionalFundraising>
      <FundraisingActivities>false</FundraisingActivities>
      <Gaming>false</Gaming>
      <Hospital>false</Hospital>
      <GrantsToOrganizations referenceDocumentId="IRS990ScheduleI">true</GrantsToOrganizations>
      <GrantsToIndividuals referenceDocumentId="IRS990ScheduleI">false</GrantsToIndividuals>
      <ScheduleJRequired>false</ScheduleJRequired>
      <TaxExemptBonds>false</TaxExemptBonds>
      <InvestTaxExemptBonds>false</InvestTaxExemptBonds>
      <EscrowAccount>false</EscrowAccount>
      <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
      <ExcessBenefitTransaction>false</ExcessBenefitTransaction>
      <PriorExcessBenefitTransaction>false</PriorExcessBenefitTransaction>
      <LoanToOfficerOrDQP>false</LoanToOfficerOrDQP>
      <GrantToRelatedPerson>false</GrantToRelatedPerson>
      <BsnssRltnshpWithOrganization>false</BsnssRltnshpWithOrganization>
      <BsnssRltnshpThruFamilyMember>false</BsnssRltnshpThruFamilyMember>
      <OfficerEntityWithBsnssRltnshp>false</OfficerEntityWithBsnssRltnshp>
      <DeductibleNonCashContributions referenceDocumentId="IRS990ScheduleM">true</DeductibleNonCashContributions>
      <DeductibleContributionsOfArt referenceDocumentId="IRS990ScheduleM">false</DeductibleContributionsOfArt>
      <Terminated>false</Terminated>
      <PartialLiquidation>false</PartialLiquidation>
      <DisregardedEntity referenceDocumentId="IRS990ScheduleR">true</DisregardedEntity>
      <RelatedEntity referenceDocumentId="IRS990ScheduleR">false</RelatedEntity>
      <RelatedOrgControlledEntity>false</RelatedOrgControlledEntity>
      <TransactionRelatedEntity referenceDocumentId="IRS990ScheduleR">false</TransactionRelatedEntity>
      <TransfersToExemptNonChrtblOrg referenceDocumentId="IRS990ScheduleR">false</TransfersToExemptNonChrtblOrg>
      <ActivitiesConductedPartnership referenceDocumentId="IRS990ScheduleR">false</ActivitiesConductedPartnership>
      <ScheduleORequired>true</ScheduleORequired>
      <NumberFormsTransmittedWith1096>16</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <ComplianceWithBackupWitholding>false</ComplianceWithBackupWitholding>
      <NumberOfEmployees>8</NumberOfEmployees>
      <EmploymentTaxReturnsFiled>true</EmploymentTaxReturnsFiled>
      <UnrelatedBusinessIncome>false</UnrelatedBusinessIncome>
      <Form990-TFiled>false</Form990-TFiled>
      <ForeignFinancialAccount>false</ForeignFinancialAccount>
      <ProhibitedTaxShelterTrans>false</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>false</TaxablePartyNotification>
      <Form8886TFiled>false</Form8886TFiled>
      <NonDeductibleContributions>false</NonDeductibleContributions>
      <NonDeductibleDisclosure>false</NonDeductibleDisclosure>
      <QuidProQuoContributions>false</QuidProQuoContributions>
      <QuidProQuoDisclosure>false</QuidProQuoDisclosure>
      <Form8282PropertyDisposedOf>false</Form8282PropertyDisposedOf>
      <NumberOf8282Filed>0</NumberOf8282Filed>
      <FundsToPayPremiums>false</FundsToPayPremiums>
      <PremiumsPaid>false</PremiumsPaid>
      <Form8899Filed>false</Form8899Filed>
      <Form1098CFiled>false</Form1098CFiled>
      <ExcessBusinessHoldings>false</ExcessBusinessHoldings>
      <TaxableDistributions>false</TaxableDistributions>
      <DistributionToDonor>false</DistributionToDonor>
      <FiledLieu1041>false</FiledLieu1041>
      <LicensedMoreThanOneState>false</LicensedMoreThanOneState>
      <IndoorTanningServices>false</IndoorTanningServices>
      <Form720Filed>false</Form720Filed>
      <InfoInScheduleOPartVI>X</InfoInScheduleOPartVI>
      <NbrVotingGoverningBodyMembers>15</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>15</NumberIndependentVotingMembers>
      <FamilyOrBusinessRelationship>false</FamilyOrBusinessRelationship>
      <DelegationOfManagementDuties>false</DelegationOfManagementDuties>
      <ChangesToOrganizingDocs>false</ChangesToOrganizingDocs>
      <MaterialDiversionOrMisuse>false</MaterialDiversionOrMisuse>
      <MembersOrStockholders>false</MembersOrStockholders>
      <ElectionOfBoardMembers>false</ElectionOfBoardMembers>
      <DecisionsSubjectToApproval>false</DecisionsSubjectToApproval>
      <MinutesOfGoverningBody>true</MinutesOfGoverningBody>
      <MinutesOfCommittees>true</MinutesOfCommittees>
      <OfficerMailingAddress>false</OfficerMailingAddress>
      <LocalChapters>false</LocalChapters>
      <PoliciesReferenceChapters>false</PoliciesReferenceChapters>
      <Form990ProvidedToGoverningBody>true</Form990ProvidedToGoverningBody>
      <ConflictOfInterestPolicy>true</ConflictOfInterestPolicy>
      <AnnualDisclosureCoveredPersons>true</AnnualDisclosureCoveredPersons>
      <RegularMonitoringEnforcement>true</RegularMonitoringEnforcement>
      <WhistleblowerPolicy>true</WhistleblowerPolicy>
      <DocumentRetentionPolicy>true</DocumentRetentionPolicy>
      <CompensationProcessCEO>true</CompensationProcessCEO>
      <CompensationProcessOther>false</CompensationProcessOther>
      <InvestmentInJointVenture>false</InvestmentInJointVenture>
      <WrittenPolicyOrProcedure>false</WrittenPolicyOrProcedure>
      <StatesWhereCopyOfReturnIsFiled>CA</StatesWhereCopyOfReturnIsFiled>
      <OwnWebsite>X</OwnWebsite>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NamePerson>Fresno Regional Foundation</NamePerson>
        <TelephoneNumber>5592265600</TelephoneNumber>
        <AddressUS>
          <AddressLine1>5250 N Palm Avenue Ste 424</AddressLine1>
          <City>Fresno</City>
          <State>CA</State>
          <ZIPCode>93704</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <Form990PartVIISectionA>
        <NamePerson>SEE ATTACHED</NamePerson>
        <Title>VARIOUS</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DAN DESANTIS</NamePerson>
        <Title>CEO</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>145250</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <TotalReportableCompFromOrg>145250</TotalReportableCompFromOrg>
      <NumberIndividualsGT100K>1</NumberIndividualsGT100K>
      <FormersListed>false</FormersListed>
      <TotalCompGT150K>false</TotalCompGT150K>
      <CompensationFromOtherSources>false</CompensationFromOtherSources>
      <NumberOfContractorsGT100K>0</NumberOfContractorsGT100K>
      <AllOtherContributions>11627428</AllOtherContributions>
      <NoncashContributions>90227</NoncashContributions>
      <TotalContributions>11627428</TotalContributions>
      <ProgramServiceRevenue>
        <Description>Administrative Assessment</Description>
        <BusinessCode>561000</BusinessCode>
        <TotalRevenueColumn>641751</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>641751</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <TotalProgramServiceRevenue>641751</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>90020</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>90020</RelatedOrExemptFunctionIncome>
      </InvestmentIncome>
      <IncomeFromInvestBondProceeds>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </IncomeFromInvestBondProceeds>
      <RoyaltiesRevenue>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </RoyaltiesRevenue>
      <NetRentalIncomeOrLoss>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetRentalIncomeOrLoss>
      <NetGainOrLossInvestments>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetGainOrLossInvestments>
      <NetIncomeFromFundraisingEvents>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetIncomeFromFundraisingEvents>
      <NetIncomeFromGaming>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetIncomeFromGaming>
      <NetIncomeOrLoss>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetIncomeOrLoss>
      <TotalOtherRevenue>0</TotalOtherRevenue>
      <TotalRevenue>
        <TotalRevenueColumn>12359199</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>731771</RelatedOrExemptFunctionIncome>
      </TotalRevenue>
      <GrantsToDomesticOrgs>
        <Total>3530932</Total>
        <ProgramServices>3530932</ProgramServices>
      </GrantsToDomesticOrgs>
      <GrantsToDomesticIndividuals>
        <Total>0</Total>
      </GrantsToDomesticIndividuals>
      <ForeignGrants>
        <Total>0</Total>
      </ForeignGrants>
      <BenefitsToMembers>
        <Total>0</Total>
      </BenefitsToMembers>
      <CompCurrentOfficersDirectors>
        <Total>145250</Total>
        <ProgramServices>29050</ProgramServices>
        <ManagementAndGeneral>14525</ManagementAndGeneral>
        <Fundraising>101675</Fundraising>
      </CompCurrentOfficersDirectors>
      <CompDisqualPersons>
        <Total>0</Total>
      </CompDisqualPersons>
      <OtherSalariesAndWages>
        <Total>331430</Total>
        <ProgramServices>136743</ProgramServices>
        <ManagementAndGeneral>159010</ManagementAndGeneral>
        <Fundraising>35677</Fundraising>
      </OtherSalariesAndWages>
      <PensionPlanContributions>
        <Total>0</Total>
      </PensionPlanContributions>
      <OtherEmployeeBenefits>
        <Total>5477</Total>
        <ProgramServices>1905</ProgramServices>
        <ManagementAndGeneral>1994</ManagementAndGeneral>
        <Fundraising>1578</Fundraising>
      </OtherEmployeeBenefits>
      <PayrollTaxes>
        <Total>95126</Total>
        <ProgramServices>33085</ProgramServices>
        <ManagementAndGeneral>34631</ManagementAndGeneral>
        <Fundraising>27410</Fundraising>
      </PayrollTaxes>
      <FeesForServicesManagement>
        <Total>0</Total>
      </FeesForServicesManagement>
      <FeesForServicesLegal>
        <Total>0</Total>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>0</Total>
      </FeesForServicesAccounting>
      <FeesForServicesLobbying>
        <Total>0</Total>
      </FeesForServicesLobbying>
      <FeesForServicesProfFundraising>
        <Total>0</Total>
      </FeesForServicesProfFundraising>
      <FeesForServicesInvstMgmntFees>
        <Total>85237</Total>
        <ProgramServices>85237</ProgramServices>
      </FeesForServicesInvstMgmntFees>
      <FeesForServicesOther>
        <Total>0</Total>
      </FeesForServicesOther>
      <Advertising>
        <Total>17142</Total>
        <ProgramServices>5962</ProgramServices>
        <ManagementAndGeneral>6241</ManagementAndGeneral>
        <Fundraising>4939</Fundraising>
      </Advertising>
      <OfficeExpenses>
        <Total>42558</Total>
        <ProgramServices>14802</ProgramServices>
        <ManagementAndGeneral>15493</ManagementAndGeneral>
        <Fundraising>12263</Fundraising>
      </OfficeExpenses>
      <InformationTechnology>
        <Total>0</Total>
      </InformationTechnology>
      <Royalties>
        <Total>0</Total>
      </Royalties>
      <Occupancy>
        <Total>183702</Total>
        <ProgramServices>63893</ProgramServices>
        <ManagementAndGeneral>66877</ManagementAndGeneral>
        <Fundraising>52932</Fundraising>
      </Occupancy>
      <Travel>
        <Total>6844</Total>
        <ProgramServices>2380</ProgramServices>
        <ManagementAndGeneral>2492</ManagementAndGeneral>
        <Fundraising>1972</Fundraising>
      </Travel>
      <TravelEntrtnmntPublicOfficials>
        <Total>0</Total>
      </TravelEntrtnmntPublicOfficials>
      <ConferencesMeetings>
        <Total>0</Total>
      </ConferencesMeetings>
      <Interest>
        <Total>12750</Total>
        <ProgramServices>12750</ProgramServices>
      </Interest>
      <PaymentsToAffiliates>
        <Total>0</Total>
      </PaymentsToAffiliates>
      <DepreciationDepletion>
        <Total>10645</Total>
        <ProgramServices>3703</ProgramServices>
        <ManagementAndGeneral>3875</ManagementAndGeneral>
        <Fundraising>3067</Fundraising>
      </DepreciationDepletion>
      <Insurance>
        <Total>13523</Total>
        <ProgramServices>4703</ProgramServices>
        <ManagementAndGeneral>4923</ManagementAndGeneral>
        <Fundraising>3897</Fundraising>
      </Insurance>
      <OtherExpenses>
        <Description>SCHOLARSHIPS</Description>
        <Total>95810</Total>
        <ProgramServices>95810</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PROJECT CONSULTANTS</Description>
        <Total>53157</Total>
        <ProgramServices>18488</ProgramServices>
        <ManagementAndGeneral>19352</ManagementAndGeneral>
        <Fundraising>15317</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>EDUCATION AND TRAINING</Description>
        <Total>28132</Total>
        <ProgramServices>9785</ProgramServices>
        <ManagementAndGeneral>10241</ManagementAndGeneral>
        <Fundraising>8106</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>ADMINISTRATIVE ASSESSMENT</Description>
        <Total>390333</Total>
        <ProgramServices>390333</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>ACCOUNTING AND LEGAL FEES</Description>
        <Total>50501</Total>
        <ProgramServices>17565</ProgramServices>
        <ManagementAndGeneral>18385</ManagementAndGeneral>
        <Fundraising>14551</Fundraising>
      </OtherExpenses>
      <AllOtherExpenses>
        <Total>123831</Total>
        <ProgramServices>55949</ProgramServices>
        <ManagementAndGeneral>50053</ManagementAndGeneral>
        <Fundraising>17829</Fundraising>
      </AllOtherExpenses>
      <TotalFunctionalExpenses>
        <Total>5222380</Total>
        <ProgramServices>4513075</ProgramServices>
        <ManagementAndGeneral>408092</ManagementAndGeneral>
        <Fundraising>301213</Fundraising>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>2313761</BOY>
        <EOY>3251342</EOY>
      </CashNonInterestBearing>
      <SavingsAndTempCashInvestments>
        <EOY>251158</EOY>
      </SavingsAndTempCashInvestments>
      <PledgesAndGrantsReceivable>
        <BOY>5638799</BOY>
        <EOY>6161428</EOY>
      </PledgesAndGrantsReceivable>
      <AccountsReceivable>
        <EOY>0</EOY>
      </AccountsReceivable>
      <ReceivablesFromOfficersEtc>
        <EOY>0</EOY>
      </ReceivablesFromOfficersEtc>
      <ReceivablesFromDisqualPersons>
        <EOY>0</EOY>
      </ReceivablesFromDisqualPersons>
      <OtherNotesLoansReceivableNet>
        <BOY>2531</BOY>
        <EOY>237</EOY>
      </OtherNotesLoansReceivableNet>
      <InventoriesForSaleOrUse>
        <EOY>0</EOY>
      </InventoriesForSaleOrUse>
      <PrepaidExpensesDeferredCharges>
        <BOY>36279</BOY>
        <EOY>42948</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasis>1879479</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>111757</LandBldgEquipmentAccumDeprec>
      <LandBuildingsEquipmentBasisNet>
        <BOY>1778367</BOY>
        <EOY>1767722</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <BOY>20123588</BOY>
        <EOY>22456146</EOY>
      </InvestmentsPubTradedSecurities>
      <InvestmentsOtherSecurities>
        <EOY>0</EOY>
      </InvestmentsOtherSecurities>
      <InvestmentsProgramRelated>
        <BOY>450000</BOY>
        <EOY>926250</EOY>
      </InvestmentsProgramRelated>
      <IntangibleAssets>
        <EOY>0</EOY>
      </IntangibleAssets>
      <OtherAssetsTotal>
        <BOY>19161547</BOY>
        <EOY>20838140</EOY>
      </OtherAssetsTotal>
      <TotalAssets>
        <BOY>49504872</BOY>
        <EOY>55695371</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>22656</BOY>
        <EOY>32689</EOY>
      </AccountsPayableAccruedExpenses>
      <GrantsPayable>
        <BOY>261813</BOY>
        <EOY>122900</EOY>
      </GrantsPayable>
      <UnsecuredNotesLoansPayable>
        <BOY>500000</BOY>
        <EOY>1000000</EOY>
      </UnsecuredNotesLoansPayable>
      <OtherLiabilities>
        <BOY>6109257</BOY>
        <EOY>4791817</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>6893726</BOY>
        <EOY>5947406</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>7142570</BOY>
        <EOY>8578159</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>24867558</BOY>
        <EOY>28916697</EOY>
      </TemporarilyRestrictedNetAssets>
      <PermanentlyRestrictedNetAssets>
        <BOY>10601018</BOY>
        <EOY>12253109</EOY>
      </PermanentlyRestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>42611146</BOY>
        <EOY>49747965</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>49504872</BOY>
        <EOY>55695371</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>7136819</ReconcilationRevenueExpenses>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementSeparate>X</FinancialStatementSeparate>
      <FederalGrantAuditRequired>false</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>false</FederalGrantAuditPerformed>
    </IRS990>
    <IRS990ScheduleA documentId="IRS990ScheduleA" softwareId="11000144" softwareVersion="2011v1.2">
      <PubliclySupportedOrg170b1Avi>X</PubliclySupportedOrg170b1Avi>
      <GiftsGrantsContribReceived170>
        <CurrentTaxYearMinus4Years>23731610</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>9216639</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>6885550</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>8545065</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>11648844</CurrentTaxYear>
        <Total>60027708</Total>
      </GiftsGrantsContribReceived170>
      <TaxRevLeviedForOrgBenefit170>
        <Total>0</Total>
      </TaxRevLeviedForOrgBenefit170>
      <ValueSrvcFcltsFurnishedByGovt>
        <Total>0</Total>
      </ValueSrvcFcltsFurnishedByGovt>
      <Total170>
        <CurrentTaxYearMinus4Years>23731610</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>9216639</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>6885550</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>8545065</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>11648844</CurrentTaxYear>
        <Total>60027708</Total>
      </Total170>
      <AmountsSubstContributorsTotal>0</AmountsSubstContributorsTotal>
      <PublicSupportTotal170>60027708</PublicSupportTotal170>
      <GrossInvestmentIncome170>
        <CurrentTaxYearMinus4Years>995081</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>856384</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>590765</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>766595</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>1130091</CurrentTaxYear>
        <Total>4338916</Total>
      </GrossInvestmentIncome170>
      <NetUBI>
        <Total>0</Total>
      </NetUBI>
      <OtherIncome170>
        <Total>0</Total>
      </OtherIncome170>
      <TotalSupport>64366624</TotalSupport>
      <PublicSupportPertcentage170>0.93260</PublicSupportPertcentage170>
      <PublicSupportPertcentPriorYear>0.93300</PublicSupportPertcentPriorYear>
      <ThirtyThreePercntTestsCY170>X</ThirtyThreePercntTestsCY170>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="IRS990ScheduleB" softwareId="11000144" softwareVersion="2011v1.2">
      <ContributorInfo>
        <ContributorNumber>RESTRICTED</ContributorNumber>
        <ContributorNameBusiness>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorNameBusiness>
        <ContributorAddressUS>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>RESTRICTED</AggregateContributions>
      </ContributorInfo>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="IRS990ScheduleD" softwareId="11000144" softwareVersion="2011v1.2">
      <NumberDAFsHeld>57</NumberDAFsHeld>
      <NumberFundsHeld>127</NumberFundsHeld>
      <DonorAdvisedContributions>2998640</DonorAdvisedContributions>
      <ContribToFundsAndOtherAccounts>9270540</ContribToFundsAndOtherAccounts>
      <GrantsPaidFromDonorFunds>1701514</GrantsPaidFromDonorFunds>
      <GrantsFundsAndOtherAccounts>1925227</GrantsFundsAndOtherAccounts>
      <AggregateDAFValue>7432425</AggregateDAFValue>
      <AggregateFundValue>42365541</AggregateFundValue>
      <DisclosedOrgsLegalControl>true</DisclosedOrgsLegalControl>
      <DisclosedForCharitablePurposes>true</DisclosedForCharitablePurposes>
      <CurrentYear>
        <BeginningOfYearBalance>11208646</BeginningOfYearBalance>
        <Contributions>2685115</Contributions>
        <InvestmentEarningsOrLosses>75485</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>294334</GrantsOrScholarships>
        <OtherExpenditures>15870</OtherExpenditures>
        <AdministrativeExpenses>246725</AdministrativeExpenses>
        <EndOfYearBalance>13412317</EndOfYearBalance>
      </CurrentYear>
      <CurrentYearMinus1Year>
        <BeginningOfYearBalance>10153018</BeginningOfYearBalance>
        <Contributions>355675</Contributions>
        <InvestmentEarningsOrLosses>1108710</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>65130</GrantsOrScholarships>
        <OtherExpenditures>146057</OtherExpenditures>
        <AdministrativeExpenses>197570</AdministrativeExpenses>
        <EndOfYearBalance>11208646</EndOfYearBalance>
      </CurrentYearMinus1Year>
      <CurrentYearMinus2Years>
        <BeginningOfYearBalance>4447235</BeginningOfYearBalance>
        <Contributions>4447488</Contributions>
        <InvestmentEarningsOrLosses>1411028</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>16482</GrantsOrScholarships>
        <OtherExpenditures>673</OtherExpenditures>
        <AdministrativeExpenses>135577</AdministrativeExpenses>
        <EndOfYearBalance>10153018</EndOfYearBalance>
      </CurrentYearMinus2Years>
      <BoardDesignatedEOYBalance>0.06450</BoardDesignatedEOYBalance>
      <PermanentEndowmentEOYBalance>0.93550</PermanentEndowmentEOYBalance>
      <EndowmentsHeldByUnrelatedOrgs>false</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <AreRelatedOrgsListedScheduleR>false</AreRelatedOrgsListedScheduleR>
      <Land>
        <OtherCostOrOtherBasis>1756816</OtherCostOrOtherBasis>
        <BookValue>1756816</BookValue>
      </Land>
      <LeaseholdImprovements>
        <OtherCostOrOtherBasis>14892</OtherCostOrOtherBasis>
        <Depreciation>14892</Depreciation>
      </LeaseholdImprovements>
      <Equipment>
        <OtherCostOrOtherBasis>107771</OtherCostOrOtherBasis>
        <Depreciation>96865</Depreciation>
        <BookValue>10906</BookValue>
      </Equipment>
      <TotalOfBookValueLandBuildings>1767722</TotalOfBookValueLandBuildings>
      <InvestmentsProgramRelated>
        <Description>PROGRAM RELATED INVESTMENT</Description>
        <BookValue>926250</BookValue>
        <MethodOfValuation>C</MethodOfValuation>
      </InvestmentsProgramRelated>
      <OtherAssets>
        <Description>Note Receivable</Description>
        <BookValue>1493537</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>INTEREST IN NET ASSETS OF SUPPORTING ORG</Description>
        <BookValue>19344603</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>BRIDGE LOAN RECEIVABLE</Description>
      </OtherAssets>
      <TotalBookValueOtherAssets>20838140</TotalBookValueOtherAssets>
      <OtherLiabilities>
        <Description>Pledge Payable</Description>
        <Amount>2450811</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>AGENCY &amp; TRUST FUNDS</Description>
        <Amount>2341006</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>4791817</TotalOfAmounts>
      <TotalRevenue>12359199</TotalRevenue>
      <TotalExpenses>5222380</TotalExpenses>
      <ExcessOrDeficitForYear>7136819</ExcessOrDeficitForYear>
      <ExcessOrDeficitPerFS>7136819</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>12359199</TotRevenueEtcAuditedFinclStmt>
      <RevenueSubtotal>12359199</RevenueSubtotal>
      <TotalRevenuePerForm990>12359199</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>5222380</TotExpensesEtcAuditedFinclStmt>
      <ExpensesSubtotal>5222380</ExpensesSubtotal>
      <TotalExpensesPerForm990>5222380</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIV>
        <Identifier>Part XI, Line 8</Identifier>
        <ReturnReference>Part XI, Line 8: Other Changes in Net Assets or Fund Balances</ReturnReference>
        <Explanation>TRANSFER OUT OF ENDOWMENTS TO OTHER CUSTODIAN $ -0</Explanation>
      </Form990ScheduleDPartXIV>
    </IRS990ScheduleD>
    <IRS990ScheduleI documentId="IRS990ScheduleI" softwareId="11000144" softwareVersion="2011v1.2">
      <RecordsMaintained>true</RecordsMaintained>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>SEE ATTACHED</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>SEE ATTACHED</AddressLine1>
          <City>SEE ATTACHED</City>
          <State>CA</State>
          <ZIPCode>93704</ZIPCode>
        </AddressUS>
        <AmountOfCashGrant>3530932</AmountOfCashGrant>
        <AmountOfNonCashAssistance>0</AmountOfNonCashAssistance>
      </RecipientTable>
      <TotalNbrOf501C3AndGovtGrants>196</TotalNbrOf501C3AndGovtGrants>
      <TotalNbrOfOtherOrganizations>18</TotalNbrOfOtherOrganizations>
      <Form990ScheduleIPartIV>
        <Identifier>Grantmaker's Description of How Grants are Used</Identifier>
        <Explanation>The Foundation employs program officers who monitor the use of grants. Grants awarded through competitive cycles require interim reports, and/or final reports, and/or site visits depending on the length and amount of the grant awarded. Grants Committee Members also review the final reports and may attend site visits. Organizations awarded through donor advised funds or at the board's discretion are asked to provide reports upon request, and/or receive site visits depending on the length and amount of the grant awarded. Prior to awarding any grants, all organizations are reviewed with our due diligence steps, and organizations are asked to submit 990s, internal financials and/or audited financial statements, board member listings, and mission statements or strategic plans.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleM documentId="IRS990ScheduleM" softwareId="11000144" softwareVersion="2011v1.2">
      <SecuritiesPubliclyTraded>
        <NumberOfContributions>7</NumberOfContributions>
        <NoncashContribsRptdF990>90227</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>Trade Price</MethodOfDeterminingRevenues>
      </SecuritiesPubliclyTraded>
      <AnyPropertyThatMustBeHeld>false</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>true</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>true</ThirdPartiesUsed>
      <Form990ScheduleMPartII>
        <Identifier>Part I, Line 32, Hire and Use of Third Parties</Identifier>
        <Explanation>INVESTMENT BROKER FIRMS ARE UTILIZED TO SELL CONTRIBUTIONS OF PUBLICLY TRADED STOCK</Explanation>
      </Form990ScheduleMPartII>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="IRS990ScheduleO" softwareId="11000144" softwareVersion="2011v1.2">
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 19</Identifier>
        <ReturnReference>Form 990, Part VI, Line 19: Other Organization Documents Publicly Available</ReturnReference>
        <Explanation>financial statements published wiTH year end brochure, governing documents and policies, POSTED ON ORGANIZATIONS WEBSITE AND are available upon request.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 12c</Identifier>
        <ReturnReference>Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts</ReturnReference>
        <Explanation>The foundation requires a conflict of interest statement to be read and understood and signed by the Board members and employees.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 11</Identifier>
        <ReturnReference>Form 990, Part VI, Line 11: Form 990 Review Process</ReturnReference>
        <Explanation>THE INFORMATION RETURNS, INCLUDING FORM 990 ARE REVIEWED BY THE AUDIT AND/OR FINANCE COMMITTEE, AND THEN TO THE ENTIRE BOARD PRIOR TO BEING SUBMITTED.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR" softwareId="11000144" softwareVersion="2011v1.2">
      <Form990ScheduleRPartI>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>EDNA LAKE LLC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>5250 N PALM AVE SUITE 424</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>93704</ZIPCode>
        </AddressUS>
        <EIN>392072666</EIN>
        <PrimaryActivities>REAL ESTATE HOLDING</PrimaryActivities>
        <LegalDomicileState>CA</LegalDomicileState>
        <EOYAssets>1600000</EOYAssets>
        <DirectControllingEntityName>
          <BusinessNameLine1>FRESNO REGIONAL FOUNDATION</BusinessNameLine1>
        </DirectControllingEntityName>
      </Form990ScheduleRPartI>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>false</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>false</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>false</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>false</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>false</SharingOfFacilities>
      <SharingOfPaidEmployees>false</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
    </IRS990ScheduleR>
  </ReturnData>
</Return>