Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $250,000

• 1e · Government grants (contributions)

  $995,348

• 1f · All other contributions, gifts and grants

  $44,988,433

• 1g · Noncash contributions included above

  $31,374,315

• 2a · Program service revenue: FOUNDATION SUPPORT FEES

  total $651,925 · related or exempt $651,925

• 3 · Investment income

  total $4,494,742 · unrelated business -$230,330 · excluded $4,725,072

• 6a · Gross rents

  real property $373,379

• 6b · Less rental expenses

  real property $580,815

• 6c · Rental income or loss

  real property -$207,436

• 6d · Net rental income or loss

  total -$207,436 · unrelated business $46,590 · excluded -$254,026

• 7a · Gross sales of assets other than inventory

  securities $356,949,829

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

  securities $343,021,934

• 7c · Gain or loss

  securities $13,927,895

• 7d · Net gain or loss

  total $13,927,895 · excluded $13,927,895

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $11,183 · excluded $11,183

• 11e · Other revenue, total

  $11,183

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $25,152,550 · program services $25,152,550

• 2 · Grants to domestic individuals

  total $603,177 · program services $603,177

• 3 · Grants to foreign organizations and individuals

  total $31,500 · program services $31,500

• 5 · Compensation of officers, directors and key employees

  total $743,453 · program services $148,945 · management and general $400,854 · fundraising $193,654

• 7 · Other salaries and wages

  total $2,758,574 · program services $937,915 · management and general $1,131,015 · fundraising $689,644

• 8 · Pension plan contributions

  total $219,889 · program services $74,763 · management and general $90,154 · fundraising $54,972

• 9 · Other employee benefits

  total $422,671 · program services $143,708 · management and general $173,295 · fundraising $105,668

• 10 · Payroll taxes

  total $235,257 · program services $75,282 · management and general $105,866 · fundraising $54,109

• 11a · Fees: management

  total $251,647 · program services $181,775 · management and general $61,481 · fundraising $8,391

• 11b · Fees: legal

  total $18,268 · management and general $18,268

• 11c · Fees: accounting

  total $106,707 · management and general $106,707

• 11f · Fees: investment management

  total $407,191 · program services $407,191

• 11g · Fees: other

  total $839,690 · program services $839,690

• 12 · Advertising and promotion

  total $220,896 · program services $91,938 · management and general $9,549 · fundraising $119,409

• 13 · Office expenses

  total $106,310 · program services $41,016 · management and general $47,218 · fundraising $18,076

• 14 · Information technology

  total $291,011 · program services $100,122 · management and general $132,799 · fundraising $58,090

• 16 · Occupancy

  total $344,735 · program services $164,003 · management and general $110,761 · fundraising $69,971

• 19 · Conferences, conventions and meetings

  total $201,226 · program services $121,841 · management and general $55,816 · fundraising $23,569

• 22 · Depreciation, depletion and amortization

  total $206,012 · program services $67,301 · management and general $82,332 · fundraising $56,379

• 23 · Insurance

  total $49,676 · program services $19,875 · management and general $23,485 · fundraising $6,316

• 24a · Other expenses: PROJECTS

  total $310,945 · program services $310,945

• 24b · Other expenses: COMMUNITY RELATIONS

  total $295,772 · program services $127,278 · management and general $4,000 · fundraising $164,494

• 24c · Other expenses: DUES AND SUBSCRIPTIONS

  total $134,155 · program services $75,193 · management and general $41,456 · fundraising $17,506

• 24d · Other expenses: UBI TAX

  total $67,000 · management and general $67,000

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $31,790 · end of year $83,286

• 2 · Savings and temporary cash investments

  beginning of year $40,825,467 · end of year $67,725,048

• 3 · Pledges and grants receivable

  beginning of year $41,402,282 · end of year $21,839,515

• 4 · Accounts receivable

  beginning of year $965,450 · end of year $286,547

• 7 · Other notes and loans receivable

  beginning of year $3,039,577 · end of year $2,336,894

• 9 · Prepaid expenses and deferred charges

  beginning of year $114,812 · end of year $127,909

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

  $18,314,968

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

  $5,448,905

• 10c · Land, buildings and equipment, net

  beginning of year $13,294,088 · end of year $12,866,063

• 11 · Investments: publicly traded securities

  beginning of year $135,763,890 · end of year $148,721,426

• 12 · Investments: other securities

  beginning of year $137,429,067 · end of year $106,947,175

• 15 · Other assets

  beginning of year $83,718,649 · end of year $78,439,261

• 17 · Accounts payable and accrued expenses

  beginning of year $282,205 · end of year $397,965

• 18 · Grants payable

  beginning of year $272,000 · end of year $132,940

• 23 · Secured mortgages and notes payable

  beginning of year $2,912,211 · end of year $2,828,357

• 25 · Other liabilities

  beginning of year $30,700,565 · end of year $28,572,619

• 27 · Net assets without donor restrictions

  beginning of year $266,875,090 · end of year $268,130,208

• 28 · Net assets with donor restrictions

  beginning of year $155,543,001 · end of year $139,311,035

The filer's explanations (Part III)

PART I, LINE 1A

SBF REQUIRES THE PRESIDENT & CEO TO RESIDE IN A RESIDENCE OWNED BY SBF AS A CONDITION OF CONTINUED EMPLOYMENT.

PART I, LINE 8

THE 2022 CEO COMPENSATION WAS SET BY THE BOARD AT AN EXECUTIVE SESSION ON FEBRUARY 10, 2022 BASED ON COMPARABLE DATA FROM VARIOUS SOURCES SUCH AS THE COUNCIL ON FOUNDATION SALARY SURVEY, THE GUIDESTAR COMPENSATION REPORT, AND/OR OTHER APPLICABLE SURVEYS AND INFORMATION, INCLUDING INFORMATION OBTAINED FROM PROFESSIONAL CONSULTANTS. ON APRIL 28, 2020 THE CEO AND BOARD ENTERED INTO AN EMPLOYMENT AGREEMENT ACKNOWLEDGING THE TERMS OF EMPLOYMENT, INITIAL ANNUAL BASE SALARY, AND THAT THE COMPENSATION COMMITTEE OF THE BOARD SHALL REVIEW THE CEO'S ANNUAL BASE SALARY IN CONNECTION WITH THE ANNUAL EVALUATION OF HER PERFORMANCE AND SHALL MAKE A RECOMMENDATION TO THE FULL BOARD. THE COMPENSATION COMMITTEE PERFORMS THE FOLLOWING ACTIVITIES: (A) CONDUCTS AN ANNUAL REVIEW OF THE CEO'S PERFORMANCE AND ASSESSES THE REASONABLENESS OF THE CEO'S TOTAL COMPENSATION IN RELATION TO THE MARKETPLACE, INCLUDING USING COMPARABILITY DATA; (B) SOLICITS BOARD INPUT REGARDING THE CEO'S PERFORMANCE; (C) DEVELOPS AND RECOMMENDS FOR BOARD APPROVAL ANY CHANGES IN THE CEO'S TOTAL COMPENSATION; (D) DEVELOPS AND RECOMMENDS FOR BOARD APPROVAL ANY CHANGES IN THE CEO'S EMPLOYMENT AGREEMENT, SEVERANCE AND/OR RETENTION AGREEMENT, IF ANY ARE IN EFFECT; (E) WORKS COLLABORATIVELY WITH THE CEO TO RECOMMEND FOR EXECUTIVE COMMITTEE REVIEW AND BOARD APPROVAL THE CEO'S ANNUAL PERFORMANCE GOALS; AND (F) DOCUMENTS THE FOREGOING. 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. THE REASONABLENESS OF THE 2022 V.P., FINANCE & ADMINISTRATION COMPENSATION WAS REVIEWED BY THE COMPENSATION COMMITTEE AT ITS MEETING ON JANUARY 27, 2022.

Disregarded entities

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

• 1111 CHAPALA STREET LLC

  RENTAL - OFFICE SPACE · CA · income $337,278 · assets $8,666,912

  Directly controlled by SANTA BARBARA FOUNDATION

• 300 EAST ISLAY STREET LLC

  CHARITABLE ACTIVITIES · CA · income $0 · assets $2,987,266

  Directly controlled by SANTA BARBARA FOUNDATION

• SBF PROPERTIES LLC

  CHARITABLE ACTIVITIES · CA · income $0 · assets $0

  Directly controlled by SANTA BARBARA FOUNDATION