Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2014
Open to Public Inspection
For calendar year 2014, or tax year beginning 2014, and ending , 20
Name of foundation
THE ROBERTS FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)C/O KKRAS 2755 CAMPUS DRIVE NO 240   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SAN MATEO, CA94403
A Employer identification number

94-2967074
B Telephone number (see instructions)

(650) 653-2422
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$101,350,246J Accounting method:
 
(Part I, column (d) must be on cash basis.)
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach
schedule).............. 3,724,740
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 258,775 258,775  
4 Dividends and interest from securities...... 5,967,648 5,967,648  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 13,146,976
b Gross sales price for all assets on line 6a 50,807,726
7 Capital gain net income (from Part IV, line 2)... 20,359,371
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 114,368 95,425  
12 Total. Add lines 1 through 11........ 23,212,507 26,681,219  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 137,966 87,677   50,289
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 416,510 2,210   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 16,653 0   16,653
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 571,129 89,887   66,942
25 Contributions, gifts, grants paid........ 35,098,058 35,098,058
26 Total expenses and disbursements. Add lines 24 and 25 35,669,187 89,887   35,165,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -12,456,680
b Net investment income (if negative, enter -0-) 26,591,332
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............      
2 Savings and temporary cash investments.......... 50,244,186 62,346,004 62,346,004
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable................. 1,935,882 1,785,882 1,785,882
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 36,001,134 Click to see attachment8,158,333 23,139,915
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 11,642,622 Click to see attachment12,271,620 11,345,215
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment0 Click to see attachment2,733,230 Click to see attachment2,733,230
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 99,823,824 87,295,069 101,350,246
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue.................. 40,136  
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment287,157 Click to see attachment255,218
23 Total liabilities (add lines 17 through 22).......... 327,293 255,218
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted...................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 99,496,531 87,039,851
30 Total net assets or fund balances (see instructions)...... 99,496,531 87,039,851
31 Total liabilities and net assets/fund balances (see instructions).. 99,823,824 87,295,069
Part III Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
with end-of-year figure reported on prior year’s return)............... 1 99,496,531
2 Enter amount from Part I, line 27a..................... 2 -12,456,680
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 87,039,851
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 87,039,851
Form 990-PF (2014)
Form 990-PF (2014)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b SAFEWAY CALL OPTIONS      
c SAFEWAY CALL OPTIONS      
d AURORA (EDCOLLEGE) P    
e AURORA (TINICUM) P    
KKR GROUP INVESTMENTS II (NEW VERNON INDIA FUND) P    
HOUSATONIC EQUITY INVESTORS II P    
HOUSATONIC EQUITY PARTNERS P    
VALUE PARTNERS, LTD. P    
KKR FINANCIAL HOLDINGS, LLC P    
KKR & CO P    
40,000 UNITS KFN - GAIN ON MERGER P    
SALE OF LION & EAGLE II P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 49,333,286   28,915,950 20,417,336
b 563,105   396,459 166,646
c       40,136
d       8,968
e     194,630 -194,630
      9,636
      25,695
      33,094
      1,240
    7 -7
34,185     34,185
463,284   646,212 -182,928
489,734   489,734 0
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       20,417,336
b       166,646
c       40,136
d       8,968
e       -194,630
      9,636
      25,695
      33,094
      1,240
      -7
      34,185
      -182,928
      0
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 20,359,371
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 . . . . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2013 33,303,902 110,589,383 0.301149
2012 17,360,960 58,060,346 0.299016
2011 10,739,765 36,827,618 0.291623
2010 10,647,732 33,778,473 0.315222
2009 9,326,603 41,766,835 0.223302
2 Total of line 1, column (d) ...................... 2 1.430312
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3 0.286062
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 120,476,925
5 Multiply line 4 by line 3....................... 5 34,463,870
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 265,913
7 Add lines 5 and 6......................... 7 34,729,783
8 Enter qualifying distributions from Part XII, line 4.............. 8 35,165,000
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions.
Form 990-PF (2014)
Form 990-PF (2014)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 265,913
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 265,913
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 265,913
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 428,714
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 428,714
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 162,801
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet162,801 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. Click to see attachment...............................
    10
    Yes
     
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletKKR ACCOUNTING SERVICES LLC Telephone no.bullet (650) 653-2422
    Located atbullet2755 CAMPUS DRIVE SUITE 240SAN MATEOCA ZIP+4bullet94403
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    GEORGE R ROBERTS PRESIDENT
    1.00     		0 0 0
    2800 SAND HILL ROAD SUITE 200
    MENLO PARK,CA94025
    ERIC B ROBERTS VICE PRESIDENT
    1.00     		0 0 0
    2800 SAND HILL ROAD SUITE 200
    MENLO PARK,CA94025
    MARK B ROBERTS VICE PRESIDENT
    1.00     		0 0 0
    2800 SAND HILL ROAD SUITE 200
    MENLO PARK,CA94025
    COURTNEY A ROBERTS VICE PRESIDENT
    1.00     		0 0 0
    2800 SAND HILL ROAD SUITE 200
    MENLO PARK,CA94025
    SUE P SCHOENTHALER SECRETARY/TREASURER
    1.00     		0 0 0
    2755 CAMPUS DRIVE SUITE 240
    SAN MATEO,CA94403
    LINNEA C ROBERTS VICE PRESIDENT
    1.00     		0 0 0
    2800 SAND HILL ROAD SUITE 200
    SAN MATEO,CA94025
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 8
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    34,538,557
    b
    Average of monthly cash balances.......................
    1b
    72,373,068
    c
    Fair market value of all other assets (see instructions)................
    1c
    15,399,974
    d
    Total (add lines 1a, b, and c).........................
    1d
    122,311,599
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    122,311,599
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,834,674
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    120,476,925
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    6,023,846
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    6,023,846
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    265,913
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
    23,196
    c
    Add lines 2a and 2b............................
    2c
    289,109
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    5,734,737
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    5,734,737
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    5,734,737
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    35,165,000
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    35,165,000
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
    265,913
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    34,899,087
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2013     		(c)
    2013     		(d)
    2014
    1 Distributable amount for 2014 from Part XI, line 7 5,734,737
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009....... 7,249,825
    b From 2010....... 8,990,314
    c From 2011....... 9,102,744
    d From 2012....... 14,803,366
    e From 2013....... 28,240,441
    fTotal of lines 3a through e......... 68,386,690
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 35,165,000
    a Applied to 2013, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2014 distributable amount..... 5,734,737
    e Remaining amount distributed out of corpus 29,430,263
    5 Excess distributions carryover applied to 2014. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 97,816,953
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		7,249,825
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		90,567,128
    10 Analysis of line 9:
    a Excess from 2010.... 8,990,314
    b Excess from 2011.... 9,102,744
    c Excess from 2012.... 14,803,366
    d Excess from 2013.... 28,240,441
    e Excess from 2014.... 29,430,263
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    GEORGE R ROBERTS
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ALL STARS HELPING KIDS INC
    2901 TASMAN DRIVE 218
    SANTA CLARA,CA95054     		NONE PC GENERAL SUPPORT 25,000
    ALS ASSOCIATION
    1275 K STREET NW 250
    WASHINGTON,DC20005     		NONE PC GENERAL SUPPORT 1,000
    AMERICAN ENTERPRISE INSTITUTE
    1150 17TH STREET NW
    WASHINGTON,DC20036     		NONE PC CAPITAL CAMPAIGN PLEDGE AND STRATEGIC COMMUNICATIONS 3,000,000
    AMERICAN JEWISH COMMITTEE
    165 EAST 56TH STREET
    NEW YORK,NY10022     		NONE PC 2014 EVAN R. CHESLER AWARD DINNER AND AJC MEDIA CAMPAIGN 10,000
    THE ARK WATCH FOUNDATION
    106 EAST PORTOLA AVENUE
    LOS ALTOS,CA94022     		NONE PF GENERAL SUPPORT 560,000
    CHILD MIND INSTITUTE
    445 PARK AVENUE 2ND FLOOR
    NEW YORK,NY10022     		NONE PC FINANCIAL AID FUND 50,000
    CHP 11-99
    2244 N STATE COLLEGE BOULEVARD
    FULLERTON,CA92831     		NONE PC GENERAL SUPPORT 6,000
    CLAREMONT MCKENNA COLLEGE
    500 E NINTH STREET
    CLAREMONT,CA91711     		NONE PC ROBERTS PAVILION PLEDGE AND FUND FOR EXCELLENCE PLEDGE 7,550,000
    COLUMBIA UNIVERSITY
    615 WEST 131ST STREET MC 8741
    NEW YORK,NY10027     		NONE PC GENERAL SUPPORT 5,000
    CULVER ACADEMIES
    1300 ACADEMY ROAD 159
    CULVER,IN46511     		NONE PC ROBERTS LEADERSHIP SCHOLARSHIP ENDOWMENT AND CMA BARRACKS 5,000,000
    EAST PALO ALTO TENNIS AND TUTORING
    PO BOX 60597
    PALO ALTO,CA94306     		NONE PC GENERAL SUPPORT 10,000
    ENVIRONMENTAL DEFENSE FUND
    257 PARK AVENUE SOUTH 17TH FLOOR
    NEW YORK,NY10010     		NONE PC GENERAL SUPPORT 333,333
    EVERGREEN STATE COLLEGE FOUNDATION
    2700 EVERGREEN PARKWAY NW L1125
    OLYMPIA,WA98505     		NONE PC JOSEPH A. DEAR MEMORIAL SCHOLARSHIP ENDOWMENT 10,000
    FAMILY CONNECTIONS
    PO BOX 358
    SAN CARLOS,CA94070     		NONE PC NIGHT OF DREAMS AND PROJECT SANTA 22,500
    THE FOOD BASKET INC
    40 HOLUMUA STREET
    HILO,HI96720     		NONE PC GENERAL SUPPORT 100,000
    THE FUND FOR PUBLIC SCHOOLS INC
    52 CHAMBERS STREET SUITE 305
    NEW YORK,NY10007     		NONE PC THE HIGHBRIDGE GREEN SCHOOL 15,000
    GRASSROOT SOCCER
    198 CHURCH STREET PO BOX 712
    NORWICH,VT05055     		NONE PC GENERAL SUPPORT AND TOMMY CLARK'S NYC MARATHON 392,725
    THE HAMILTON GRANGE SCHOOL
    500 W 138TH STREET
    NEW YORK,NY10031     		NONE PC PURCHASING TECHNOLOGY 25,000
    HAWAII ISLAND WORKFORCE & ECONOMIC DEVELOPMENT OHANA (HIWEDO)
    1990 KINOOLE STREET 102
    HILO,HI96720     		NONE PC GENERAL SUPPORT 70,000
    HAWAII STATE JUNIOR GOLF ASSOCIATION
    4330 KUKUI GROVE STREET
    LIHUE,HI96766     		NONE PC GENERAL SUPPORT 32,000
    HOPE SERVICES HAWAII INC
    296 KILAUEA AVENUE
    HILO,HI96720     		NONE PC ULU WINI PLAYZONE 83,500
    HAULALAI OHANA FOUNDATION
    PO BOX 5227
    KAILUAKONA,HI96745     		NONE PC GENERAL SUPPORT AND 2014 ANNUAL APPEAL DONATION 7,500
    IDEAL SCHOOL & ACADEMY
    314 WEST 91ST STREET
    NEW YORK,NY10024     		NONE PC GENERAL SUPPORT 12,500
    INTERMOUNTAIN CENTERS FOR HUMAN DEVELOPMENT INC
    PO BOX 17749
    TUCSON,AZ85731     		NONE PC GENERAL SUPPORT 10,000
    KANU OKA 'AINA LEARNING 'OHANA (KALO)
    PO BOX 6511
    KAMUELA,HI96743     		NONE PC GENERAL SUPPORT 3,500
    KOKUA CHRISTIAN MINISTRIES
    PO BOX 231
    KAMUELA,HI96743     		NONE 501(C)(3) GENERAL SUPPORT 3,000
    KONA TASK FORCE ON FEEDING THE HUNGRY
    74-5063 HUAALA STREET
    KAILUA KONA,HI96740     		NONE 501(C)(3) MEET 'N EAT PROGRAM 2,000
    KUKIO COMMUNITY FUND
    827 FORT STREET MALL
    HONOLULU,HI96813     		NONE PC GENERAL SUPPORT 5,000
    LA'I'OPUA 2020
    74-5599 LUHIA STREET E5
    KAILUA KONA,HI96740     		NONE 501(C)(3) GENERAL SUPPORT 50,000
    MENLO CHARITY HORSE SHOW
    190 PARK LANE
    ATHERTON,CA94027     		NONE SO I GENERAL SUPPORT 7,000
    METROPOLITAN FAMILY SERVICE
    1805 SE BELMONT STREET
    PORTLAND,OR97214     		NONE PC A GATHERING OF GOOD 5,000
    MOUNT SINAI MEDICAL CENTER
    ONE GUSTAVE L LEVY PLACE
    NEW YORK,NY10029     		NONE PC ICAHN SCHOOL OF MEDICINE 10,000
    NAVAL POSTGRADUATE SCHOOL FOUNDATION INC
    PO BOX 8626
    MONTEREY,CA93943     		NONE PC AMERICA'S HEROS CHARITY GOLD TOURNAMENT 100,000
    NEW LEADERS
    30 WEST 26TH STREET 9TH FLOOR
    NEW YORK,NY10010     		NONE PC PLEDGE PAYMENT (NEW YORK)PLEDGE PAYMENT (BAY AREA)BALTIMORE CITY PUBLIC SCHOOLSEAGLE ACADEMY FOUNDATION (EAGEL ACADEMY FOR YOUNG MEN AT OCEAN HILL)FRIENDSHIP WOODRIDGE ELEMENTARY AND MIDDLE SCHOOLFUSHION PARTNERSHIPS INC (LIBERTY ELEMENTARY SCHOOL)MANASSAS HIGH SCHOOLMOTT HAVEN ACADEMY CHARTER SCHOOLNETTLEHORST PARENT TEACHER ORGANIZATIONOAKLAND SCHOOLS FOUNDATION (URBAN PROMISE ACADEMY AND METWEST HIGH SCHOOL)PINEY GROVE ELEMENTARY SCHOOLTHOMAS STONE ELEMENTARY SCHOOL 1,398,500
    PATHWAYS HOME HEALTH AND HOSPICE
    585 N MARY AVENUE
    SUNNYVALE,CA94085     		NONE PC GENERAL SUPPORT 5,000
    THE RONALD W REAGAN SOCIETY OF EUREKA COLLEGE
    300 EAST COLLEGE AVENUE
    EUREKA,IL61530     		NONE PC GEORGE P. SCHULTZ SCHOLARSHIP 20,000
    REBUILDING TOGETHER INC
    1899 L STREET NW 1000
    WASHINGTON,DC20036     		NONE PC GENERAL SUPPORT 10,000
    REDF
    221 MAIN STREET
    SAN FRANCISCO,CA94105     		NONE PC GENERAL SUPPORT 3,500,000
    RESURRECTION UNIVERSITY
    1431 N CLAREMONT
    CHICAGO,IL60622     		NONE PC SCHOLARSHIP FUND 15,000
    ROBERT T JONES JR MEMORIAL SCHOLARSHIP FUND
    1185 6TH AVENUE 8TH FLOOR
    NEW YORK,NY10036     		NONE PC GENERAL SUPPORT 10,000
    ROBIN HOOD FOUNDATION
    826 BROADWAY 9TH FLOOR
    NEW YORK,NY10003     		NONE PC GENERAL SUPPORT 25,000
    RONALD MCDONALD HOUSE AT STANFORD
    520 SAND HILL ROAD
    PALO ALTO,CA94304     		NONE PC HOPE IS GROWING EXPANSION CAMPAIGN 100,000
    SAN FRANCISCO FIRST TEE
    99 HARDING ROAD
    SAN FRANCISCO,CA94132     		NONE PC GENERAL SUPPORT 106,000
    SAN FRANCISCO FOOD BANK
    900 PENNSYLVANIA AVENUE
    SAN FRANCISCO,CA94107     		NONE PC GENERAL SUPPORT 10,000
    THE SAN FRANCISCO FOUNDATION
    ONE EMBARCADERO CENTER SUITE 1400
    SAN FRANCISCO,CA94111     		NONE PC GRACE WILSEY FUND 750,000
    SAN FRANCISCO MUSEUM OF MODERN ART
    ONE EMBARCADERO CENTER SUITE 1400
    SAN FRANCISCO,CA94111     		NONE PC 2012 EXPANSION CAMPAIGN AND 2014 EXPANSION CAMPAIGN 8,500,000
    SAN FRANCISCO OPERA
    301 VAN NESS AVENUE
    SAN FRANCISCO,CA94102     		NONE PC GENERAL SUPPORT 50,000
    SAN FRANCISCO SYMPHONY
    DAVIES SYMPHONY HALL 201 VAN NESS
    AVENUE
    SAN FRANCISCO,CA94102     		NONE PC 2014 ANNUAL FUND (MAESTRO'S CIRCLE MEMBERSHIP) 100,000
    SAN MATEO COUNTY HISTORY MUSEUM
    2200 BROADWAY STREET
    REDWOOD CITY,CA94063     		NONE PC GENERAL SUPPORT 5,000
    SEMPER FI FUND
    PO BOX 555193
    CAMP PENDLETON,CA92055     		NONE PC GENERAL SUPPORT 100,000
    SEO SCHOLARS
    55 EXCHANGE PLACE
    NEW YORK,NY10005     		NONE PC GENERAL SUPPORT 550,000
    SHINNECOCK HILLS EDUCATIONAL FUND
    200 TUCKAHOE ROAD
    SOUTHAMPTON,NY11968     		NONE 501(C)(3) GENERAL SUPPORT 5,000
    STANFORD UNIVERSITY
    3145 PORTER DRIVE
    PALO ALTO,CA94304     		NONE PC SIEBEL VARSITY GOLF TRAINING COMPLEX 70,000
    TEACH FOR AMERICA
    3145 WEST 36TH STREET 8TH FLOOR
    NEW YORK,NY10018     		NONE PC GENERAL SUPPORT 925,000
    UC HASTINGS COLLEGE OF LAW
    200 MCALLISTER STREET
    SAN FRANCISCO,CA94102     		NONE PC GENERAL SUPPORT 2,000
    UCSF CENTER FOR PREVENTION OF HEART & VASCULAR DISEASE
    535 MISSION BAY BOULEVARD
    SOUTH SAN FRANCISCO,CA94158     		NONE PC GENERAL SUPPORT PLEDGE 300,000
    UNITED WAY OF THE BAY AREA
    550 KEARNY STREET 1000
    SAN FRANCISCO,CA94108     		NONE PC GENERAL SUPPORT 25,000
    YEAR UP BAY AREA
    80 SUTTER STREET
    SAN FRANCISCO,CA94104     		NONE PC GENERAL SUPPORT 1,000,000
    Total .................................bullet 3a 35,098,058
    bApproved for future payment
    AMERICAN ENTERPRISE INSTITUTE
    1150 17TH STREET NW
    WASHINGTON,DC20036     		NONE PC CAPITAL CAMPAIGN PLEDGE 3,000,000
    CLAREMONT MCKENNA COLLEGE
    500 E NINTH STREET
    CLAREMONT,CA91711     		NONE PC FUND FOR EXCELLENCE CHALLENGE; ROBERTS CHALLENGE; AND ROBERTS PAVILION 34,320,096
    CULVER ACADEMIES
    1300 ACADEMY ROAD 159
    CULVER,IN46511     		NONE PC BOYS' BARRACKS AND ROBERTS LEADERSHIP SCHOLARSHIP ENDOWMENT 2013-2017 16,000,000
    ENVIRONMENTAL DEFENSE FUND
    257 PARK AVENUE SOUTH 17TH FLOOR
    NEW YORK,NY10010     		NONE PC GENERAL SUPPORT 333,334
    NEW LEADERS
    30 WEST 26TH STREET 9TH FLOOR
    NEW YORK,NY10010     		NONE PC BAY AREA PLEDGE 750,000
    REDF
    221 MAIN STREET
    SAN FRANCISCO,CA94105     		NONE PC GENERAL SUPPORT 4,500,000
    SAN FRANCISCO MUSEUM OF MODERN ART
    151 THIRD STREET
    SAN FRANCISCO,CA94103     		NONE PC 2012 EXPANSION CAMPAIGN AND 2014 EXPANSION CAMPAIGN 11,500,000
    STANFORD UNIVERSITY
    3145 PORTER DRIVE
    PALO ALTO,CA94304     		NONE PC SIEBEL VARSITY GOLF TRAINING COMPLEX 280,000
    Total .................................bullet 3b 70,683,430
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		    14 258,775  
    4 Dividends and interest from securities....     14 5,967,648  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....     01 38,507  
    8
    Gain or (loss) from sales of assets other than inventory .............     		900099 -7 18 13,146,983  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aAURORA (EDCOLLEGE)     14 -12,341  
    bAURORA (TINICUM)     14 -5,822  
    cKKR GROUP INVESTMENTS II - NEW VERNON INDIA FUND     14 -39,110  
    dBURLINGAME CAPITAL PARTNERS II     14 -3,530  
    eEVERGREEN DESTINATION HLDGS, LLC 900099 116,404 14 -363  
    fHOUSATONIC EQUITY INVESTORS II     14 -4,911  
    gHOUSATONIC EQUITY PARTNERS     14 18,164  
    hVALUE PARTNERS, LTD.     14 -3,087  
    iKKR & CO 900099 3,103 14 6,587  
    jKKR FINANCIAL HOLDINGS, LLC 900099 -3,602 14 844  
    kKKR PARTNERS II (INTERNATIONAL), LP     14 93,446  
    lRUSH CREEK LODGE 900099 -1,091 14 -572  
    mKC FUNDING PREFERRED INTEREST (AKA TURTLE GROVE)     14 7,613  
    nOTHER PARTNERSHIP INCOME     01 -95,871  
    12 Subtotal. Add columns (b), (d), and (e).. 114,807 19,372,960 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    1319,487,767
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2014)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
    OMB No. 1545-0047
    2014
    Name of the organization
    THE ROBERTS FOUNDATION
     
    Employer identification number

    94-2967074
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 2
    Name of organization
    THE ROBERTS FOUNDATION
          		Employer identification number

    94-2967074
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    GLEAM CO  
    2800 SAND HILL ROAD SUITE 200
     
    MENLO PARK, CA94025

    		$3,724,740


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 3
    Name of organization
    THE ROBERTS FOUNDATION
          		Employer identification number

    94-2967074
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    1
    		 1,661 SHARES MARRONE BIO INNOVATIONS INC. STOCK $ 22,606 2014-04-04
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    1
    		 33,064 SHARES ROCKET FUEL INC. STOCK $ 1,314,955 2014-04-04
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    1
    		 PROMISSORY NOTE - VB GOLF $ 2,387,179 2014-06-01
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 4
    Name of organization
    THE ROBERTS FOUNDATION
          		Employer identification number

    94-2967074
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
    that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Additional Data


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    TY 2014 GainLossSaleOtherAssetsSch
    Name:
    THE ROBERTS FOUNDATION
    EIN: 94-2967074
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    KKR FINANCIAL HOLDINGS, LLC   PURCHASED       7   0 -7  

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    THE ROBERTS FOUNDATION
    EIN: 94-2967074
    Name of Stock End of Year Book Value End of Year Fair Market Value
    PROCTOR AND GAMBLE (211,380 SHS) 5,099,744 19,254,604
    IVANPLATS (69,975 SHS) 21,860 97,965
    SAFEWAY (1,228,105 SHS) 0 0
    ENSEMBLE CAPITAL (CURTIS BROWN) 3,036,729 3,787,346

    TY 2014 InvestmentsOtherSchedule2
    Name:
    THE ROBERTS FOUNDATION
    EIN: 94-2967074
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    AURORA (EDCOLLEGE) AT COST 516,710 2,581,443
    LION & EAGLE INVESTOR II AT COST 0 0
    AURORA (TINICUM) AT COST 40,047 28,000
    BURLINGAME CAPITAL PARTNERS II AT COST 2,149 0
    HOUSATONIC EQUITY INVESTORS II AT COST 152,306 417,233
    HOUSATONIC EQUITY PARTNERS AT COST 94,664 623,348
    VALUE PARTNERS AT COST 153,568 134,661
    KKR GROUP INVESTMENTS II - NEW VERNON INDIA FUND AT COST 2,132,463 1,504,442
    KKR GROUP INVESTMENTS II - KKR STRATEGIC CAP FUND AT COST 2,256,587 100,155
    KKR FINANCIAL HOLDINGS AT COST 0 0
    KC FUNDING, LLC AT COST 116,314 149,648
    RUSH CREEK LODGE LLC AT COST 1,200,382 1,202,045
    KKR PARTNERS II (INTERNATIONAL), LP - NAUTILUS AGGREGATOR (MARITIME) AT COST 2,597,557 2,530,900
    KKR GROUP INVESTMENTS II - CLEARGATE EUROPEAN RECOVERY FUND AT COST 2,500,000 1,599,856
    KKR & CO. AT COST 475,539 473,484
    TURTLE GROVE AT COST 33,334 0

    TY 2014 OtherAssetsSchedule
    Name:
    THE ROBERTS FOUNDATION
    EIN: 94-2967074
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    DUE FROM GLEAM CO. 0 489,734 489,734
    PROMISSORY NOTE 0 2,243,496 2,243,496


    TY 2014 OtherExpensesSchedule
    Name:
    THE ROBERTS FOUNDATION
    EIN: 94-2967074
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 14,584 0   14,584
    MISCELLANEOUS 2,069 0   2,069


    TY 2014 OtherIncomeSchedule2
    Name:
    THE ROBERTS FOUNDATION
    EIN: 94-2967074
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    40,000 UNITS KFN - ORDINARY GAIN ON MERGER 38,507 38,507 38,507
    AURORA (EDCOLLEGE) -12,341 -12,341 -12,341
    AURORA (TINICUM) -5,822 -5,822 -5,822
    KKR GROUP INVESTMENTS II - NEW VERNON INDIA FUND -39,110 -39,110 -39,110
    BURLINGAME CAPITAL PARTNERS II -3,530 -3,530 -3,530
    EVERGREEN DESTINATION HLDGS, LLC 116,041 -363 116,041
    EVERGREEN DESTINATION HLDGS, LLC 115,878   115,878
    HOUSATONIC EQUITY INVESTORS II -4,911 -4,911 -4,911
    HOUSATONIC EQUITY INVESTORS II -4,905   -4,905
    HOUSATONIC EQUITY PARTNERS 18,164 18,164 18,164
    HOUSATONIC EQUITY PARTNERS 22,828   22,828
    VALUE PARTNERS, LTD. -3,087 -3,087 -3,087
    KKR & CO 9,690 6,587 9,690
    KKR FINANCIAL HOLDINGS, LLC -2,758 844 -2,758
    KKR PARTNERS II (INTERNATIONAL), LP 93,446 93,446 93,446
    RUSH CREEK LODGE -1,663 -572 -1,663
    RUSH CREEK LODGE -1,664   -1,664
    KC FUNDING PREFERRED INTEREST (AKA TURTLE GROVE) 7,613 7,613 7,613
    OTHER PARTNERSHIP INCOME -95,871   -95,871


    TY 2014 OtherLiabilitiesSchedule
    Name:
    THE ROBERTS FOUNDATION
    EIN: 94-2967074
    Description Beginning of Year - Book Value End of Year - Book Value
    EVERGREEN DESTINATION HLDGS 287,157 255,218


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    THE ROBERTS FOUNDATION
    EIN: 94-2967074
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGER/BANK FEES 37,387 37,387   0
    PROFESSIONAL FEES 100,579 50,290   50,289


    TY 2014 SubstantialContributorsSch
    Name:
    THE ROBERTS FOUNDATION
    EIN: 94-2967074
    Name Address
     
          		2800 SAND HILL ROAD SUITE 200
    MENLO PARK,CA94025


    TY 2014 TaxesSchedule
    Name:
    THE ROBERTS FOUNDATION
    EIN: 94-2967074
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL 414,300 0   0
    STATE 2,210 2,210   0