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Nonprofiteer
← HIGHLAND SANTA BARBARA FOUNDATION INC

Form 990 for tax year 2024

Filed by HIGHLAND SANTA BARBARA FOUNDATION INC.

Totals

Total revenue
$1,087,722
Total expenses
$494,007
Contributions and grants received
$0
Grants paid
$250,000
Program service revenue
$0
Investment income
$1,087,722
Other revenue
$0
Total assets, end of year
$88,214,035
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$88,214,035
Program services expenses (Part IX)
$250,000
Management and general expenses
$244,007
Fundraising expenses
$0
Program service expenses (Part III)
$250,000

Program services were 50.6% 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.

  • 3 · Investment income

    total $1,087,722 · excluded $1,087,722

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $250,000 · program services $250,000

  • 11a · Fees: management

    total $234,499 · management and general $234,499

  • 11c · Fees: accounting

    total $9,508 · management and general $9,508

Balance sheet

Part X, book values.

  • 12 · Investments: other securities

    beginning of year $91,007,570 · end of year $88,214,035

  • 27 · Net assets without donor restrictions

    beginning of year $91,007,570 · end of year $88,214,035

Mission and programs · 2024

Mission

SEE 4A BELOW

Activities or mission (Part I)

TO SUPPORT AND BENEFIT THE SANTA BARBARA FOUNDATION, A CALIFORNIA NONPROFIT CORPORATION.

  • THE HIGHLAND SANTA BARBARA FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY AS A SUPPORTING ORGANIZATION WITHIN THE MEANING OF SECTION 509(A)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), TO SUPPORT AND BENEFIT THE SANTA BARBARA FOUNDATION ("SBF"), A CALIFORNIA NONPROFIT CORPORATION. SBF IS EXEMPT FROM FEDERAL INCOME TAXATION UNDER SECTION 501(A) OF THE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE CODE AND A PUBLIC CHARITY DESCRIBED IN SECTION 509(A)(1) OF THE CODE.THE ORGANIZATION RECEIVED ITS FUNDING AS ONE OF THREE CHARITABLE REMAINDER BENEFICIARIES OF A CHARITABLE REMAINDER TRUST CREATED BY JAMES DONDERO, WHICH TERMINATED ON NOVEMBER 30, 2011. THE CHARITABLE PURPOSE OF THE ORGANIZATION'S SUPPORTED ORGANIZATION, WHICH WAS FOUNDED IN 1928, IS TO ENRICH THE LIVES OF THE PEOPLE OF SANTA BARBARA COUNTY THROUGH PHILANTHROPY. SBF SUPPORTS DIVERSE CHARITABLE CAUSES IN THE COMMUNITY, SUCH AS EDUCATION, THE ARTS, MENTAL HEALTH, AND NUMEROUS OTHER CHARITABLE AREAS IN WHICH ITS DONORS ARE INTERESTED. IN 2024, SBF AWARDED OVER 2,000 GRANTS TOTALING OVER $40 MILLION. THE ORGANIZATION SUPPORTS AND BENEFITS SBF BY MAKING GRANTS DIRECTLY TO SBF IN SUPPORT OF ITS CHARITABLE PURPOSES. IN ADDITION, UPON THE DIRECTION AND ON BEHALF OF SBF, THE ORGANIZATION MAY MAKE GRANTS TO SUCH OTHER PUBLIC CHARITIES THAT SBF WISHES TO BENEFIT IN FURTHERANCE OF SBF'S EXEMPT PURPOSES.

    Expenses $250,000 · Grants $250,000

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

Listed in Part VII

  • James Dondero

    DIRECTOR, PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jacqueline Carrerra

    DIRECTOR, SECY/TREASURER

    Total calculated
    $541,304
    From this org
    $0
    From related orgs
    $457,442
    Other
    $83,862
    Hours/week
    2 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $412,296 related
    Bonus
    $0 + $43,856 related
    Other
    $0 + $1,290 related
    Deferred
    $0 + $57,500 related
    Nontaxable benefits
    $0 + $26,362 related
    Filer's total
    $0 + $541,304 related

  • Todd Yuba

    DIRECTOR

    Total calculated
    $354,465
    From this org
    $0
    From related orgs
    $297,791
    Other
    $56,674
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $277,711 related
    Bonus
    $0 + $11,000 related
    Other
    $0 + $9,080 related
    Deferred
    $0 + $29,919 related
    Nontaxable benefits
    $0 + $26,755 related
    Filer's total
    $0 + $354,465 related

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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION FOR THE RELATED ORGANIZATION WAS ESTABLISHED BY A COMPENSATION STUDY AND APPROVAL OF THE BOARD. ADDITIONALLY, STARTING WITH THE RECOMMENDATIONS OF THE CEO, THE COMPENSATION COMMITTEE ASSESSES, DETERMINES, AND DOCUMENTS THE REASONABLENESS OF THE TOTAL COMPENSATION RANGES, AND THE TERMS OF ANY EMPLOYMENT AGREEMENTS, SEVERANCE AND/OR RETENTION AGREEMENTS, OF THE V.P., FINANCE & ADMINISTRATION AND ALL EMPLOYEES WITH REPORTABLE COMPENSATION (W-2) RANGES AT OR OVER $150,000. WHEN APPROPRIATE, THE COMMITTEE SELECTS AND ENGAGES PROFESSIONALS TO GATHER AND REVIEW IN ADVANCE, APPROPRIATE MARKET COMPARABILITY DATA ON THE AMOUNT AND FORM OF COMPENSATION PAID FOR COMPARABLE POSITIONS BY OTHER COMPARABLE EMPLOYERS.

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202503189349311420

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