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Nonprofiteer
← THE SAN DIEGO FOUNDATION

Form 990 for tax year 2024

Filed by THE SAN DIEGO FOUNDATION.

Totals

Total revenue
$196,946,092
Total expenses
$150,764,759
Contributions and grants received
$82,853,230
Grants paid
$98,736,561
Program service revenue
$31,028,924
Investment income
$83,246,134
Other revenue
-$182,196
Total assets, end of year
$1,651,991,058
Total liabilities, end of year
$167,825,624
Net assets or fund balances, end of year
$1,484,165,434
Program services expenses (Part IX)
$124,717,867
Management and general expenses
$22,226,544
Fundraising expenses
$3,820,348
Program service expenses (Part III)
$124,717,867

Program services were 82.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $6,592,298

  • 1e · Government grants (contributions)

    $19,561,668

  • 1f · All other contributions, gifts and grants

    $56,699,264

  • 1g · Noncash contributions included above

    $12,083,046

  • 2a · Program service revenue: CHARITABLE GIFT ADMIN

    total $26,371,332 · related or exempt $26,371,332

  • 2b · Program service revenue: INTERCOMPANY REIMBURSE

    total $4,500,000 · related or exempt $4,500,000

  • 2c · Program service revenue: SHARED SERVICES REV

    total $157,592 · related or exempt $157,592

  • 3 · Investment income

    total $28,920,752 · unrelated business $600,068 · excluded $28,320,684

  • 6a · Gross rents

    real property $160,188

  • 6b · Less rental expenses

    real property $342,384

  • 6c · Rental income or loss

    real property -$182,196

  • 6d · Net rental income or loss

    total -$182,196 · excluded -$182,196

  • 7a · Gross sales of assets other than inventory

    securities $302,878,937

  • 7b · Less cost or other basis and sales expenses

    securities $248,553,555

  • 7c · Gain or loss

    securities $54,325,382

  • 7d · Net gain or loss

    total $54,325,382 · excluded $54,325,382

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $98,079,561 · program services $98,079,561

  • 3 · Grants to foreign organizations and individuals

    total $657,000 · program services $657,000

  • 5 · Compensation of officers, directors and key employees

    total $1,682,023 · program services $429,526 · management and general $955,034 · fundraising $297,463

  • 7 · Other salaries and wages

    total $11,992,495 · program services $3,067,235 · management and general $6,539,415 · fundraising $2,385,845

  • 8 · Pension plan contributions

    total $1,418,904 · program services $725,823 · management and general $393,808 · fundraising $299,273

  • 9 · Other employee benefits

    total $1,370,175 · program services $682,335 · management and general $395,676 · fundraising $292,164

  • 10 · Payroll taxes

    total $359,314 · program services $174,812 · management and general $108,817 · fundraising $75,685

  • 11b · Fees: legal

    total $1,630,222 · program services $1,200,064 · management and general $430,158

  • 11c · Fees: accounting

    total $218,864 · program services $4,825 · management and general $214,039

  • 11f · Fees: investment management

    total $8,882,825 · management and general $8,882,825

  • 11g · Fees: other

    total $18,883,336 · program services $17,529,367 · management and general $1,338,014 · fundraising $15,955

  • 12 · Advertising and promotion

    total $916,674 · program services $310,848 · management and general $563,062 · fundraising $42,764

  • 13 · Office expenses

    total $210,969 · program services $70,174 · management and general $127,032 · fundraising $13,763

  • 14 · Information technology

    total $889,524 · program services $49,092 · management and general $832,131 · fundraising $8,301

  • 16 · Occupancy

    total $114,390 · program services $64,020 · management and general $22,653 · fundraising $27,717

  • 17 · Travel

    total $77,837 · program services $26,191 · management and general $37,945 · fundraising $13,701

  • 19 · Conferences, conventions and meetings

    total $911,641 · program services $327,499 · management and general $530,148 · fundraising $53,994

  • 20 · Interest

    total $145,669 · program services $96,110 · management and general $7,948 · fundraising $41,611

  • 22 · Depreciation, depletion and amortization

    total $501,181 · program services $309,847 · management and general $57,185 · fundraising $134,149

  • 23 · Insurance

    total $245,631 · program services $119,503 · management and general $74,389 · fundraising $51,739

  • 24a · Other expenses: EQUIPMENT RENTAL

    total $382,843 · program services $249 · management and general $382,594

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $198,108 · program services $75,086 · management and general $92,697 · fundraising $30,325

  • 24c · Other expenses: PROPERTY MANAGEMENT

    total $122,233 · program services $80,646 · management and general $6,671 · fundraising $34,916

  • 24d · Other expenses: TAXES & LICENSES

    total $26,794 · program services $26,794

  • 24e · All other expenses

    total $846,546 · program services $611,260 · management and general $234,303 · fundraising $983

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $140,930,927 · end of year $113,407,808

  • 2 · Savings and temporary cash investments

    beginning of year $66,973,127 · end of year $45,803,298

  • 3 · Pledges and grants receivable

    beginning of year $611,035 · end of year $16,573,098

  • 9 · Prepaid expenses and deferred charges

    beginning of year $453,105 · end of year $858,799

  • 10a · Land, buildings and equipment: cost or other basis

    $17,579,918

  • 10b · Land, buildings and equipment: accumulated depreciation

    $11,198,866

  • 10c · Land, buildings and equipment, net

    beginning of year $5,302,054 · end of year $6,381,052

  • 11 · Investments: publicly traded securities

    beginning of year $673,726,951 · end of year $758,826,622

  • 12 · Investments: other securities

    beginning of year $627,654,822 · end of year $672,095,902

  • 15 · Other assets

    beginning of year $32,311,047 · end of year $38,044,479

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,211,548 · end of year $5,286,499

  • 18 · Grants payable

    beginning of year $11,751,647 · end of year $8,025,632

  • 19 · Deferred revenue

    beginning of year $1,000,000 · end of year $500,000

  • 20 · Tax-exempt bond liabilities

    beginning of year $9,958,911 · end of year $9,649,357

  • 21 · Escrow or custodial account liability

    beginning of year $124,986,258 · end of year $136,941,570

  • 25 · Other liabilities

    beginning of year $5,956,832 · end of year $7,422,566

  • 27 · Net assets without donor restrictions

    beginning of year $575,401,444 · end of year $575,106,454

  • 28 · Net assets with donor restrictions

    beginning of year $813,696,428 · end of year $909,058,980

Mission and programs · 2024

Mission

THE SAN DIEGO FOUNDATION INSPIRES ENDURING PHILANTHROPY AND ENABLES COMMUNITY SOLUTIONS TO IMPROVE THE QUALITY OF LIFE IN OUR REGION.

Activities or mission (Part I)

THE SAN DIEGO FOUNDATION IMPROVES THE QUALITY OF LIFE WITHIN ALL OF OUR COMMUNITIES.

  • SEE SCHEDULE O.SINCE 1975, SAN DIEGO FOUNDATION HAS PROVIDED A PERMANENT AND GROWING SOURCE OF FUNDING TO NONPROFITS SERVING THE SAN DIEGO REGION. THANKS TO THE GENEROSITY OF DONORS, THE FOUNDATION GRANTS MILLIONS OF DOLLARS ANNUALLY TO NONPROFIT ORGANIZATIONS ADDRESSING THE CHALLENGES AND NEEDS IN THE SAN DIEGO REGION BY USING THE HIGHEST LEVEL OF PHILANTHROPIC AND INVESTMENT EXPERTISE TO PROVIDE MAXIMUM IMPACT.SAN DIEGO FOUNDATION MAXIMIZES THE IMPACT OF CHARITABLE GIVING TO ENACT POSITIVE CHANGE IN OUR REGION. WE PARTNER WITH DONORS, NONPROFITS AND REGIONAL LEADERS TO CO-CREATE SOLUTIONS THAT RESPOND TO COMMUNITY NEEDS AND STRENGTHEN SAN DIEGO.WE MANAGE CHARITABLE FUNDS FOR HUNDREDS OF INDIVIDUALS, FAMILIES AND CORPORATIONS. A GIFT TO SAN DIEGO FOUNDATION PROVIDES MAXIMUM TAX DEDUCTIONS, OUTSTANDING INVESTMENT MANAGEMENT AND LOW ADMINISTRATIVE COSTS. WITH MORE THAN 50 YEARS SERVING THE COMMUNITY AND HUNDREDS OF ACTIVE PARTNERSHIPS AND COLLABORATIONS WITH BUSINESS, GOVERNMENT AND COMMUNITY LEADERS AND ORGANIZATIONS, WE ARE ABLE TO ASSESS CHANGING REGIONAL NEEDS AND TAKE ACTION ON SAN DIEGO'S MOST PRESSING CHALLENGES. WE GATHER THIS INFORMATION AND CREATE AN ONGOING UNDERSTANDING OF OUR REGION'S NEEDS AND PAIR IT WITH OUR DONORS' PASSIONS, VALUES AND INTEREST AREAS AND CONNECT THEM WITH NONPROFIT ORGANIZATIONS THAT OFFER SOLUTIONS.SAN DIEGO FOUNDATION ALLOWS INDIVIDUALS AND FAMILIES TO ESTABLISH CUSTOMIZED CHARITABLE FUNDS WITHOUT THE BURDEN OF TAX LIABILITIES AND ADMINISTRATIVE TASKS ASSOCIATED WITH SETTING UP A PRIVATE FOUNDATION. OUR BOARD OF GOVERNORS, COMPRISED OF PROFESSIONAL EXPERTS AND COMMUNITY LEADERS, AND OUR KNOWLEDGEABLE STAFF PROVIDE KEEN OVERSIGHT AND AN UNWAVERING COMMITMENT TO HONORING THE WISHES OF EACH DONOR.SAN DIEGO FOUNDATION'S PROGRAM AREAS ARE GUIDED BY OUR ORGANIZATIONAL VALUES. WE VALUE ALL PEOPLE, ALL PARTNERS, AND OUR REGION. WE ACT WITH INTEGRITY AND RESPECT FOR ONE ANOTHER AND THE COMMUNITIES WE SERVE, WE ENGAGE DIVERSE PERSPECTIVES TO FOSTER COLLABORATION AND INNOVATIVE SOLUTIONS, AND WE STRIVE FOR AN INCLUSIVE COMMUNITY WHERE EVERYONE HAS EQUITABLE ACCESS TO OPPORTUNITY.WE ADHERE TO A DEEPLY ETHICAL APPROACH TO PHILANTHROPY, ONE THAT HOLDS OURSELVES ACCOUNTABLE TO BEING A TRUSTWORTHY PARTNER AND TO APPROACHING OUR WORK WITH HUMILITY AND RESPECT FOR THE EXPERTISE OF THE COMMUNITIES WE SERVE AND OF THE GOVERNMENT, NONPROFIT, BUSINESS SECTORS AND INDIVIDUALS WITH WHOM WE COLLABORATE. WE WILL BE OPEN-MINDED, LEARN CONSTANTLY, LISTEN CAREFULLY TO DIFFERENT EXPERIENCES AND DIFFERENT PERSPECTIVES, BUILD STRONG AND DIVERSE COALITIONS, SUPPORT COMMUNITY ENGAGEMENT AND ENGAGE IN SHARED DECISION-MAKING. GRANT OPPORTUNITIES ARE OFFERED BY SAN DIEGO FOUNDATION, SAN DIEGO WOMEN'S FOUNDATION, POLICY & INNOVATION CENTER AND OUR SEVEN REGIONAL AFFILIATE FOUNDATIONS (4SRANCH-DEL SUR, CARLSBAD, CHULA VISTA, ESCONDIDO, OCEANSIDE, RAMONA, AND RANCHO BERNARDO).

    Expenses $124,717,867 · Grants $98,736,561 · Revenue $31,028,924

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Pam Luster

    CHAIR

    Total calculated
    $0
    Hours/week
    2
  • Steven Klosterman

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2
  • Dr Pradeep Gidwani MD MPH

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 1 related
  • Cindy J Bertrand

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 0.2 related
  • Alessandra Lezama

    GOVERNOR (THRU 6/25)

    Total calculated
    $0
    Hours/week
    1.3
  • Allen Young

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Amanda Montgomery

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Amina Sheik Mohamad

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Clifford Schireson

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Dr Becky Petitt

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Elvin Lai

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Gisele Bonitz

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Gloria Corral

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Ken Derrett

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3 + 1 related
  • Kevin Hamilton

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Leena Gupta

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3 + 0.2 related
  • Liza Crisafi

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Mel Katz

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3 + 0.5 related
  • P Kay Coleman

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3 + 0.5 related
  • Rafael Castellanos

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Rudy Johnson

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1.3
  • Mark A Stuart CFRE

    PRESIDENT & CEO

    Total calculated
    $737,408
    From this org
    $641,727
    From related orgs
    $0
    Other
    $95,681
    Hours/week
    40 + 0.7 related

    Schedule J breakdown matched by us

    Base
    $530,867
    Bonus
    $110,860
    Other
    $0
    Deferred
    $69,722
    Nontaxable benefits
    $25,959
    Filer's total
    $737,408
  • James Howell

    VP, CHIEF FINANCIAL OFFICER

    Total calculated
    $524,026
    From this org
    $457,686
    From related orgs
    $0
    Other
    $66,340
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $393,762
    Bonus
    $63,924
    Other
    $0
    Deferred
    $42,037
    Nontaxable benefits
    $24,303
    Filer's total
    $524,026
  • Matt Fettig

    VP, CHIEF INVESTMENT OFFICER

    Total calculated
    $464,346
    From this org
    $407,606
    From related orgs
    $0
    Other
    $56,740
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $354,671
    Bonus
    $52,935
    Other
    $0
    Deferred
    $35,763
    Nontaxable benefits
    $20,977
    Filer's total
    $464,346
  • Susan L Guinn

    CHIEF INNOVATION OFFICER

    Total calculated
    $774,120
    From this org
    $670,117
    From related orgs
    $0
    Other
    $104,003
    Hours/week
    40 + 20 related

    Schedule J breakdown matched by us

    Base
    $555,347
    Bonus
    $114,545
    Other
    $225
    Deferred
    $71,367
    Nontaxable benefits
    $32,636
    Filer's total
    $774,120
  • Brian Zumbano

    VP, DEVELOPMENT & STEWARDS

    Total calculated
    $434,505
    From this org
    $372,131
    From related orgs
    $0
    Other
    $62,374
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $324,131
    Bonus
    $48,000
    Other
    $0
    Deferred
    $38,746
    Nontaxable benefits
    $23,628
    Filer's total
    $434,505
  • Pamela G Payton Vp Chief

    IMPACT & PARTNERSHIPS OFFICER

    Total calculated
    $343,139
    From this org
    $293,295
    From related orgs
    $0
    Other
    $49,844
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $257,320
    Bonus
    $35,975
    Other
    $0
    Deferred
    $28,518
    Nontaxable benefits
    $21,326
    Filer's total
    $343,139
  • Theresa Nakata

    VP, CHIEF COMMUNICATIONS OFFICER

    Total calculated
    $322,733
    From this org
    $287,181
    From related orgs
    $0
    Other
    $35,552
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $246,055
    Bonus
    $41,126
    Other
    $0
    Deferred
    $27,434
    Nontaxable benefits
    $8,118
    Filer's total
    $322,733
  • Kelly Feuillet

    AVP OF FINANCE, CONTROLLER

    Total calculated
    $305,917
    From this org
    $268,930
    From related orgs
    $0
    Other
    $36,987
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,327
    Bonus
    $28,413
    Other
    $190
    Deferred
    $23,253
    Nontaxable benefits
    $13,734
    Filer's total
    $305,917

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
PARTIAL REIMBURSEMENT IS OFFERED TO ALL EMPLOYEES FOR GYM MEMBERSHIP WHICH IS INCLUDED AS TAXABLE COMPENSATION.
PART I, LINE 7
DISCRETIONARY BONUS PAYMENTS WERE PAID BASED ON PERSONS MEETING GOALS SET BY AND APPROVED BY BOARD OF GOVERNORS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BUILDING 907 LLC

    HOLD, MAINTAIN, AND OPERATE PROPERTY · CA · income $160,188 · assets $1,485,600

    Directly controlled by THE SAN DIEGO FOUNDATION

  • SAN DIEGO HOUSING FUND GP LLC

    INVESTMENT · DE · income $0 · assets $0

    Directly controlled by SDF INVESTMENT MANAGEMENT LLC

  • SAN DIEGO HOUSING HOLDCO LLC

    INVESTMENT · DE · income $0 · assets $0

    Directly controlled by THE SAN DIEGO FOUNDATION

  • SDF INVESTMENT MANAGEMENT LLC

    INVESTMENT · DE · income $0 · assets $0

    Directly controlled by SAN DIEGO HOUSING HOLDCO LLC

  • SDHF BRIDGE DECK LLC

    INVESTMENT · DE · income $0 · assets $0

    Directly controlled by THE SAN DIEGO FOUNDATION

  • SDHF STATES LLC

    INVESTMENT · DE · income $0 · assets $0

    Directly controlled by THE SAN DIEGO FOUNDATION

  • SDF HOUSING INITIATIVE LLC

    INVESTMENT · DE · income $0 · assets $0

    Directly controlled by SAN DIEGO HOUSING HOLDCO LLC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • SAN DIEGO HOUSING FUND LP

    INVESTMENT · CA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUST (11)

    BENEFICIAL INTEREST · CA

    Directly controlled by THE SAN DIEGO FOUNDATION

  • CHARITABLE LEAD TRUST (1)

    BENEFICIAL INTEREST · CA

    Directly controlled by THE SAN DIEGO FOUNDATION

  • POOLED INCOME FUND (4)

    BENEFICIAL INTEREST · CA

    Directly controlled by THE SAN DIEGO FOUNDATION

  • CHARITABLE GIFT ANNUITY (33)

    BENEFICIAL INTEREST · CA

    Directly controlled by THE SAN DIEGO FOUNDATION

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.5
Source object
202601339349305635

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