2011-04-28T15:21:57-05:00 2010-06-30 DELOITTE TAX LLP 225 WEST SANTA CLARA STREET SAN JOSE CA 95113 990 2009-07-01 942747262 San Francisco Ballet Endowment Foundation SANF 4158615600 455 Franklin Street San Francisco CA 94102 KIMBERLY O CARIM 4158615600 2011-04-04 1 4087044000 2009 2016-02-24 21:20:13Z John Osterweis 455 Franklin St San Francisco CA 94102 13457268 0 X N/A X 1980 CA Assist in development and management of endowment funds for San Francisco Ballet Association 12 11 0 0 0 0 1186825 578311 2368 -6745631 1323116 0 -5558806 1903795 4151092 4118482 0 197265 253262 14020 10809 261524 653929 314270 5016306 4696823 -10575112 -2793028 83715070 86901599 14238708 13975389 69476362 72926210 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. 0 0 44052 44052 Development Programs: Assist dancers and former dancers with furthering their education to achieve their post-dancing career plans. (27 dancers assisted) 4175998 4074430 Management and oversight: Holding and managing endowment funds for the benefit of San Francisco Ballet Association. (4,074,430 distributed) 4220050 1 1 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 12 11 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 X Hank Holland 2.00 X 0 0 0 John S Osterweis 5.00 X X 0 0 0 Thomas E Horn 5.00 X X 0 0 0 Carole Obley 2.00 X 0 0 0 Chris Hellman 2.00 X 0 0 0 George B James 2.00 X 0 0 0 J Stuart Francis 2.00 X X 0 0 0 James D Marver 2.00 X 0 0 0 Richard C Barker 2.00 X 0 0 0 Robert M Smelick 2.00 X 0 0 0 Susan Briggs 2.00 X 0 0 0 Patricia Teroller 5.00 X X 0 0 0 Kimberly O Carim 9.00 X 0 138250 8535 THOMAS WILLIAM FLYNN 7.00 X 0 162319 8865 Sarah Rhyins 4.00 X 0 100230 10252 0 400799 27652 0 0 1 0 0 19407 558904 578311 Donor appreciation 711120 2368 2368 2368 1460088 1460088 6987381 4429120 7053473 4500000 -66092 -70880 -136972 -136972 1903795 2368 0 1323116 4074430 4074430 44052 44052 35627 35627 170512 42609 127903 31809 11749 20060 15314 5888 9426 5112 5112 39777 38040 1737 10809 10809 97132 97132 9993 4368 5625 11284 11284 21231 250 20981 10260 5325 4935 650 650 2021 24 1997 35277 35277 Receivable Write-off 70112 70112 CREDIT CARD FEES 4487 4487 Asset Management 38 38 6896 30 6866 4696823 4220050 215249 261524 -244396 219041 4101257 1164258 3938930 2574415 0 41038414 50884482 28865961 25884642 6014904 6174761 83715070 86901599 18309 17562 14220399 13957827 14238708 13975389 X 12501934 15462090 7047143 6646905 49927285 50817215 69476362 72926210 83715070 86901599 X 0 1 1 X 0 X X X 0 0 0 SF BALLET 941415298 501(C)(3) 1 1 1 4074430 1 4074430 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 74005632 1755909 7570539 4074430 1324266 77933384 87451612 4422933 -12646393 4094480 1128040 74005632 0.38000 0.56000 0.06000 0 0 0 CANYON VALUE REALIZATION FUND 4338339 F WATERSHED CAPITAL INSTITUTIONAL PARTNERS LP 3773733 F DAEDALUS PARTNERS LP 13929788 F AURELIUS CAPITAL INTERNATIONAL, LTD 3842782 F 25884642 DIVIDENDS RECEIVABLE 31858 SPLIT INTEREST AGREEMENTS 5417917 POOLED INCOME FUND 266967 CHARITABLE GIFT ANNUITIES 458019 6174761 CHARITABLE GIFT ANNUITY PAYMENT LIABILITY 308225 DUE TO SAN FRANCISCO BALLET ASSOCIATION 13649602 13957827 1903795 4696823 -2793028 6265963 -4460898 1805065 -987963 47294432 6265963 39123469 45389432 1905000 -1205 -1205 1903795 48282395 43600961 43600961 4681434 15389 15389 4696823 Part V, Line 4: Description of Intended Use of Endowment Funds: To develop and advance the art of ballet in all its forms, and particularly, to assist in the development and management (by acting as trustee of charitable trusts or otherwise) of endowment funds for San Francisco Ballet Association, a California nonprofit public benefit corporation within the meaning of section 501(c)(3) of the IRS code, as amended. Part XII, Line 2d - Other Adjustments: Other: 660509. SAN FRANCISCO BALLET ASSOCIATION: 38462960. Part XII, Line 4b - Other Adjustments: Stock Liquidation Expense: -1205. Part XIII, Line 2d - Other Adjustments: OTHER: 2019926. SAN FRANCISCO BALLET ASSOCIATION: 41581035. Part XIII, Line 4b - Other Adjustments: OTHER: 15389. 1 San Francisco Ballet Association 455 Franklin Street San Francisco CA 94102 941415298 501(c)(3) 4074430 0 FMV N/A 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 statementsEndowment 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 Artist Reserve Scholarship Fund 27 44052 FMV N/A Other Information: Part IV: Part III, Column A - The Artists' reserve fund has been established by collective bargaining agreement for the purposes of enhancing the efforts of the San Francisco Ballet to assist San Francisco Ballet dancers. San Francisco Ballet grantees are required to submit documentation of appropriate expenses for reimbursement with grant funds awarded. The Organization reviews the documentation prior to reimbursement. X X X 0 0 0 0 0 0 0 0 0 THOMAS WILLIAM FLYNN 0 162319 0 0 0 0 0 0 0 8865 0 171184 0 171201 Daedalus Partners LLP The president of the organization is a general partner of Daedalus. 500000 The organization has a non-marketable limited partnership investment in Daedalus Partners, LLP. The Ballet requested a $500,000 withdrawal from the limited partnership investment and received the funds on October 1, 2009. withdrawal from this limited partnership investment as of September 30, 2009, which was received on October 1, 2009. 0 Osterweis Strategic Income Fund (OSTIX) Investment management entity owned by John Osterweis, President 4389750 Market value of investment in OSTIX at 6/30/10 0 0 X 4 0 X In-kind service 2 0 0 0 1 0 Non Reporting of Revenue: Part I, Line 33: The 4 stock gifts were received in payment of pledges receivable in existence prior to the beginning of the fiscal year. The other noncash contribution was in-kind service revenue which was not included in Form 990 revenue. 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. 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 the By-Laws (unless the By-Law amendment is approved by the Board alone in accordance with the terms of the By-Laws). Form 990, Part VI, Section B, line 11 The form 990 is reviewed by the organization's audit committee and is provided to the San Francisco Ballet Endowment Foundation board members before filing. Form 990, Part VI, Section B, line 12c The organization distributes the policy and a 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 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. Form 990, Part VI, Section C, line 18 Due to the age of the Organizaiton, 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. Form 990, Part VI, Section C, line 19 The organization makes its audited financial statements for the most recent three years available to the public via its website. Form 990, governing documents and conflict of interest policy are also available upon request. FORM 990, PART XI, LINE 2a & b : The organization is required by GAAP to be consolidated with the results of the San Francisco Ballet Association. The consolidated entities were audited by an independent accountant; However, the organization itself was not audited on a stand alone basis. The San Francisco Ballet Association's and the Organization's Audit committee have joint responsibility for oversight of the audit of the consolidated financial statements. SAN FRANCISCO BALLET ASSOCIATION 455 FRANKLIN STREET SAN FRANCISCO CA 94102 941415298 BALLET CA 501(c)(3) Line 11, Type I: 509 N/A 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 San Francisco Ballet Association B 4074430 San Francisco Ballet Association D 44900000 san Francisco Ballet Association N 253262 san Francisco Ballet Association O 927850