2019-04-22T17:39:32-07:00 2018-06-30 990 2017-07-01 942747262 SAN FRANCISCO BALLET ENDOWMENT FOUNDATION SANF 4158615600 455 Franklin Street San Francisco CA 94102 Kevin Mohr Chief Financial Officer 4158656590 2019-05-15 76.21.25.39 2017 2020-01-14 16:20:31Z James D Marver 455 Franklin Street San Francisco CA 94102 15681336 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 9 3 9 27420 16353 11407598 5802173 2200 2325 2596948 3289088 0 0 14006746 9093586 4890602 4897294 0 0 537216 420700 46000 1500 360890 372418 491536 5846236 5811030 8160510 3282556 125027723 127218080 11573160 9074159 113454563 118143921 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 (Continued on Schedule O, Statement 1) 0 0 5269060 4897294 2325 The San Francisco Ballet Endowment Foundation (the Foundation) is responsible for management and oversight-holding of endowment funds for the benefit of San Francisco Ballet Association. The Ballet has a policy of appropriating for distribution each year up to a maximum of 5% of its endowment funds' average fair value over the prior twelve quarters years as of June 30, preceding the fiscal year in which the distribution is planned. Typically, the distribution supports new San Francisco Ballet works and productions, the Ballet's orchestra and music, artistic innovation, touring, dance education, scholarships, and the San Francisco Ballet School. Depending upon market conditions and the needs and available resources of the Association, appropriations for expenditure from individual endowments may be temporarily suspended to facilitate preservation of the endowment. 0 0 0 5269060 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 3 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 CA X Kevin Mohr 4158615600 455 Franklin Street San Francisco CA 94102 James D Marver President 5 5 X X 0 0 0 John S Osterweis President Emeritus 2 10 X 0 0 0 J Stuart Francis Vice President 5 0 X X 0 0 0 Hank J Holland Vice President (Board Departure March 09, 2018) 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 Hilary Pierce Director 2 0 X 0 0 0 Larissa Roesch Director 2 0 X 0 0 0 Nancy Kukacka Director 2 5 X 0 0 0 Elizabeth Lani Assistant Secretary 28 12 X 0 96582 10863 Laura Simpson Secretary 5 35 X 0 63038 9248 Kevin Mohr Chief Financial Officer 10 40 X 0 150419 4996 0 310039 25107 0 0 1 0 Hall Capital Partners LLC One Maritime Plaza Suite 500 San Francisco CA 94111 Investment Management 195698 1 0 0 0 0 0 5802173 114155 5802173 Donor Appreciation Events 711110 2325 2325 0 0 0 0 0 0 2325 2202804 0 27420 2175384 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7674034 0 6587750 0 1086284 0 1086284 0 0 1086284 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9093586 2325 27420 3261668 4897294 4897294 0 0 0 0 0 0 160431 0 46278 114153 0 0 0 0 205850 0 61938 143912 10238 0 2109 8129 16414 0 7539 8875 27767 0 8858 18909 0 0 0 0 4600 0 436 4164 39650 0 39650 0 0 0 0 0 1500 1500 364536 364536 0 0 11598 4400 6548 650 19555 0 0 19555 383 0 0 383 7100 0 7100 0 0 0 0 0 893 0 0 893 577 0 0 577 0 0 0 0 18531 0 0 18531 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Dues and Subscriptions 19352 0 0 19352 Miscellaneous 1925 0 624 1301 Credit Card Fees 6 0 0 6 Unrelated Business Income Taxes 2830 2830 0 0 5811030 5269060 181080 360890 500 0 12964786 4179153 138516 19105 0 0 0 0 0 0 44471623 55476879 61584159 63906422 5868139 3636521 125027723 127218080 60808 10445 11512352 9063714 11573160 9074159 X 31881478 32074639 6607198 7090624 74965887 78978658 113454563 118143921 125027723 127218080 X 3282556 2774976 0 0 0 -1368174 X 0 1 X 1 0 X X 1 San Francisco Ballet Association 941415298 7 1 4897294 0 1 4897294 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 119047942 6675957 6198570 0 7932235 -1025273 125015507 100219009 11604394 11847575 0 7102876 -2479840 119047942 107033575 3440416 -1836699 0 5808274 2610009 100219009 105867946 6468771 1138578 0 5503775 937945 107033575 92513161 5968410 14271657 0 5817478 1067804 105867946 0.33 0.61 0.06 0 0 0 0 Credit strategies hedge fund 3320992 F Event-driven hedge fund 12593271 F Multi-strategy hedge fund 6022599 F Long-biased hedge fund 28220850 F Relative value hedge fund 6277665 F Real Estate partnership fund 7471045 F 63906422 0 Due to San Francisco Ballet Association 8380106 Charitable Gift Annuity Payment 683608 9063714 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 The Foundation follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The Foundation is exempt from federal income tax under IRC section 501(c)(3) of the Internal Revenue Code, though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The Foundation is also exempt from California franchise taxes under Revenue and Taxation Code Section 23701d on its income other than unrelated business income. The Foundation has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which it was nexus; and to identify and evaluate other matters that may be considered tax positions. The Foundation has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Central America and the Caribbean 0 0 Investments 34879543 Europe (including Iceland and Greenland) 0 0 Investments 8026446 0 0 42905989 1 0 1 1 1 0 Schedule F, Part IV The Foundation invests directly in various alternative investments that may be organized as either foreign corporations or partnerships. In addition, the Foundation invests in domestic limited partnerships that may, in turn invest in foreign corporations or partnerships. Nevertheless, the Foundation's investment activities may not reach the thresholds required for the filing of Forms 926, 5471, 8621, or 8865. To the extent that the Foundation is required to complete one (or more) of these foreign forms, it is filed with the Foundation's Form 990-T. 1 San Francisco Ballet Association 455 Franklin Street San Francisco CA 94102 941415298 4897294 0 The purpose of the grant is to support San Francisco Ballet Association general operations. 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 Kevin Mohr Chief Financial Officer (As of 05/01/2017) 0 150419 0 0 0 0 0 4164 0 832 0 155415 0 0 Schedule J, Part II The Form 990 reports 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, a related organization. X 15 114155 FMV 0 0 1 0 Schedule M, Part I, Line 33 Schedule M, Part I, Line 9 - Number of contributions is listed here. Form 990, Part III (Cont. 1) 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 The form 990 was prepared based on audited financial statements by the organization's finance and accounting staff, which was then reviewed by Grant Thornton, LLP. The Foundation provided a complete copy of this form to all members of its governing body with a redaction of donor names and addresses 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 that 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. Board members with a conflict are recused from discussions and do not vote on resolutions that pertain directly to their conflict. Form 990, Part VI, Section B, Line 15 The Foundation officers (Chief Financial Officer, Assistant Secretary, and Secretary) are compensated by a related organization, San Francisco Ballet Association. The Association's process for determining the compensation of the Chief Financial Officer involved analysis of the compensation by the Assessment 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 seven 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 XI, Line 9 Other changes in Net Assets consist of ($3,161) change in discount, ($1,309,502) change in value of split interest agreement, $4,489 change in value of pooled income fund and receivable write-offs of ($60,000). San Francisco Ballet Association 455 Franklin Street San Francisco CA 94102 941415298 Ballet CA 501(c)(3) 7 N/A 0 Charitable Gift Annuities (36) 455 Franklin Street San Francisco CA 94102 Investment company CA N/A T 1 Charitable Remainder Unitrusts (4) 455 Franklin Street San Francisco CA 94102 Investment company CA N/A T 1 Charitable Remainder Unitrust (1) 455 Franklin Street San Francisco CA 94102 Investment company FL N/A T 1 Pooled Income Fund (6) 455 Franklin Street San Francisco CA 94102 Investment company CA N/A T 1 Pooled Income Fund (1) 455 Franklin Street San Francisco CA 94102 Investment company IL N/A T 1 Pooled Income Fund (1) 455 Franklin Street San Francisco CA 94102 Investment company OR N/A T 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0