Form990-PF
Click to see attachment

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
VOLENTINE FAMILY FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)19 WEST CARRILLO STREET   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SANTA BARBARA, CA93101
A Employer identification number

77-0203235
B Telephone number (see instructions)

(805) 962-5719
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$30,502,253J 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)..............  
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 2,560 2,560  
4 Dividends and interest from securities...... 551,230 551,230  
5a Gross rents.............. 43,375 43,375  
b Net rental income or (loss) -2,765
6a Net gain or (loss) from sale of assets not on line 10 4,441,777
b Gross sales price for all assets on line 6a 24,501,740
7 Capital gain net income (from Part IV, line 2)... 4,441,777
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 8,666 6,428  
12 Total. Add lines 1 through 11........ 5,047,608 5,045,370  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 171,774 81,554   90,220
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 1,260 630   630
b Accounting fees (attach schedule)....... Click to see attachment 34,242 25,681   8,561
c Other professional fees (attach schedule).... Click to see attachment 210,531 209,969   562
17 Interest............... 672 672   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 78,813 13,421   8,468
19 Depreciation (attach schedule) and depletion... Click to see attachment 55,600 42,076  
20 Occupancy.............. 8,545 4,273   4,272
21 Travel, conferences, and meetings....... 7,116 3,558   3,558
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 61,708 39,648   22,060
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 630,261 421,482   138,331
25 Contributions, gifts, grants paid........ 1,159,616 1,159,616
26 Total expenses and disbursements. Add lines 24 and 25 1,789,877 421,482   1,297,947
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 3,257,731
b Net investment income (if negative, enter -0-) 4,623,888
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.......... 626,973 12,181,298 12,181,298
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
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)........      
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet1,201,573
Less: accumulated depreciation (attach schedule) bullet212,394 1,012,219 Click to see attachment989,179 1,340,732
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 23,407,815 Click to see attachment15,161,476 15,792,383
14 Land, buildings, and equipment: basis bullet1,084,548
Less: accumulated depreciation (attach schedule) bullet211,983 895,918 Click to see attachment872,565 1,185,392
15 Other assets (describe bullet) Click to see attachment0 Click to see attachment2,448 Click to see attachment2,448
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 25,942,925 29,206,966 30,502,253
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue..................    
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 attachment2,423 Click to see attachment8,733
23 Total liabilities (add lines 17 through 22).......... 2,423 8,733
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 25,940,502 29,198,233
30 Total net assets or fund balances (see instructions)...... 25,940,502 29,198,233
31 Total liabilities and net assets/fund balances (see instructions).. 25,942,925 29,206,966
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 25,940,502
2 Enter amount from Part I, line 27a..................... 2 3,257,731
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 29,198,233
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 29,198,233
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 FIDELITY #278 DAVIS SECURITIES      
b FIDELITY #286 DELAWARE      
c FIDELITY #260 LOGAN      
d FIDELITY #251 MADISON      
e FIDELITY #235 SANTA BARBARA      
FIDELITY #219 SECURITIES      
FIDELITY #227 WENTWORTH      
GOLDMAN SACHS # 7660 HARDING      
NORTHERN TRUST #4797      
NORTHERN TRUST #3934      
UNION BANK #3800      
LANX      
FISCHER GARRISON      
TERRAPIN PARTNERS OFFSHORE      
NT HEDGE FUND PARTNERSHIP      
NT PRIVATE EQUITY PARTNERSHIP      
CAPITAL GAINS DIVIDENDS 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 819,929   553,252 266,677
b 1,217,002   1,098,069 118,933
c 740,435   532,249 208,186
d 1,094,342   1,081,115 13,227
e 916,179   647,848 268,331
4,533,061   4,151,445 381,616
580,511   379,270 201,241
100,199   103,842 -3,643
721,533   726,163 -4,630
294,577   236,885 57,692
13,033,686   10,540,578 2,493,108
3,994   6,425 -2,431
861   729 132
2,763   2,093 670
62,218     62,218
195,569     195,569
184,881     184,881
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       266,677
b       118,933
c       208,186
d       13,227
e       268,331
      381,616
      201,241
      -3,643
      -4,630
      57,692
      2,493,108
      -2,431
      132
      670
      62,218
      195,569
      184,881
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 4,441,777
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 1,186,353 27,933,490 0.042471
2012 1,319,038 26,538,290 0.049703
2011 1,159,058 28,514,925 0.040647
2010 1,579,093 27,359,070 0.057717
2009 1,625,286 25,339,777 0.064140
2 Total of line 1, column (d) ...................... 2 0.254678
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 0.050936
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 29,324,346
5 Multiply line 4 by line 3....................... 5 1,493,665
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 46,239
7 Add lines 5 and 6......................... 7 1,539,904
8 Enter qualifying distributions from Part XII, line 4.............. 8 1,297,947
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 92,478
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 92,478
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 92,478
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 39,150
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 51,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 90,150
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 2,328
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
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. ...............................
    10
     
    No
    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 ofbulletCLAUDETTE SABIRON Telephone no.bullet (805) 962-5719
    Located atbullet19 WEST CARRILLO STREETSANTA BARBARACA ZIP+4bullet93101
    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
     
     
    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
    NANCY K POPENHAGEN DIRECTOR
    2.00     		24,533 189 2,561
    19 W CARRILLO STREET
    SANTA BARBARA,CA93101
    DIANE K HAYES PRESIDENT
    30.00     		69,772 17,697 218
    19 W CARRILLO STREET
    SANTA BARBARA,CA93101
    CLAUDETTE SABIRON SECRETARY
    30.00     		50,669 16,236 0
    19 W CARRILLO STREET
    SANTA BARBARA,CA93101
    RICHARD A NIGHTINGALE DIRECTOR
    1.00     		13,400 0 0
    19 W CARRILLO STREET
    SANTA BARBARA,CA93101
    JOHN MACKALL VICE PRESIDENT
    1.00     		13,400 0 0
    19 W CARRILLO STREET
    SANTA BARBARA,CA93101
    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
    26,168,003
    b
    Average of monthly cash balances.......................
    1b
    2,262,174
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,340,733
    d
    Total (add lines 1a, b, and c).........................
    1d
    29,770,910
    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
    29,770,910
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    446,564
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    29,324,346
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,466,217
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,466,217
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    92,478
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    92,478
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,373,739
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,373,739
    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
    1,373,739
    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
    1,297,947
    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
    0
    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
    1,297,947
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,297,947
    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 1,373,739
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 1,244,782
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009.......  
    b From 2010.......  
    c From 2011.......  
    d From 2012.......  
    e From 2013.......  
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 1,297,947
    a Applied to 2013, but not more than line 2a 1,244,782
    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..... 53,165
    e Remaining amount distributed out of corpus 0
    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 0
    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 ..........     		1,320,574
    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) ...     		0
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012....  
    d Excess from 2013....  
    e Excess from 2014....  
    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).)
    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 e-mail address of the person to whom applications should be addressed:
    DIANE HAYES VOLENTINE FAMILY FOUNDA
    19 W CARRILLO STREET
    SANTA BARBARA,CA93101
    (805) 962-5719
    bThe form in which applications should be submitted and information and materials they should include:
    GRANT REQUEST APPLICATION AND APPLICABLE SUPPORTING DOCUMENTATION
    cAny submission deadlines:
    APRIL 20
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    AWARDS ARE LIMITED TO ORGANIZATIONS OPERATING IN THE FOLLOWING GEOGRAPHICAL AREAS: SANTA BARBARA, CA, MCCOOK, NE AND LOVELAND, CO
    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
    ACADEMY OF HEALING ARTS FOR TEENS
    23 W MISSION ST
    SANTA BARBARA,CA93101     		NONE PC YOUTH SUPPORT SERVICES 10,000
    ALANO CLUB OF SB
    235 E COTA ST
    SANTA BARBARA,CA93101     		NONE PC ALCOHOL AND DRUG RECOVERY SERVICES 20,000
    AMERICAN DREAM FOUNDATION
    2955 CHANDLER DRIVE
    LOMPOC,CA93436     		NONE PC COMMUNITY SUPPORT SERVICES 5,000
    ASSISTANCE LEAGUE
    1249 VERONICA SPRINGS ROAD
    SANTA BARBARA,CA93105     		NONE PC SCHOOL BELL PROGRAM 15,000
    BOYS & GIRLS CLUB OF LARIMER
    103 SMOKEY ST
    FORT COLLINS,CO80525     		NONE PC YOUTH SUPPORT SERVICES 10,000
    CALM
    1236 CHAPALA ST
    SANTA BARBARA,CA93101     		NONE PC CHILD ABUSE TREATMENT AND PREVENTION 10,000
    CANCER CENTER OF SANTA BARBARA
    300 W PUEBLO ST
    SANTA BARBARA,CA93105     		NONE PC HUMAN HEALTH SERVICES 3,050
    CASA COURT APPOINTED SPEC ADV
    402 E GUTIERREZ ST
    SANTA BARBARA,CA93101     		NONE PC CHILD ABUSE TREATMENT AND PREVENTION 15,000
    CASA SERENA
    1515 BATH ST
    SANTA BARBARA,CA93101     		NONE PC ALCOHOL AND DRUG RECOVERY SERVICES 25,190
    COMMUNITY HOSPITAL HEALTH FND
    PO BOX 1328
    MCCOOK,NE69001     		NONE PC HUMAN HEALTH SERVICES 1,000
    COTTAGE HEALTH SYSTEMS
    PO BOX 689
    SANTA BARBARA,CA93102     		NONE PC HUMAN HEALTH SERVICES 80,000
    COTTAGE REHAB HOSPITAL FOUNDATION
    2415 DE LA VINA STREET
    SANTA BARBARA,CA93105     		NONE PC HUMAN HEALTH SERVICES 10,000
    COUNCIL ON ALCOHOLISM & DRUG ABUSE
    PO BOX 28
    SANTA BARBARA,CA93102     		NONE PC ALCOHOL AND DRUG RECOVERY SERVICES 20,000
    COUNCIL ON ALCOHOLISM & DRUG ABUSE
    PO BOX 28
    SANTA BARBARA,CA93102     		NONE PC THE FIGHTING BACK MENTOR PROGRAM 6,000
    DOMESTIC VIOLENCE SOLUTIONS
    PO BOX 3782
    SANTA BARBARA,CA93103     		NONE PC FAMILY SUPPORT SERVICES 10,000
    EATON SCHOOL DISTRICT
    200 PARK AVENUE
    EATON,CO80615     		NONE PC EDUCATION 790
    ED THOMAS YMCA
    901 WEST E
    MCCOOK,NE69001     		NONE PC RECREATION AND SPORTS 10,000
    ELINGS PARK FOUNDATION
    1298 LAS POSITAS ROAD
    SANTA BARBARA,CA93105     		NONE PC RECREATION AND SPORTS 1,000
    ESTES PARK SCHOOL DISTRICT RE3
    1605 BRODIE AVE
    ESTES PARK,CO80517     		NONE PC EDUCATION 1,755
    FAMILY SERVICE AGENCY
    123 W GUTIERREZ ST
    SANTA BARBARA,CA93101     		NONE PC FAMILY SUPPORT SERVICES 10,000
    FOOD BANK OF LARIMER COUNTY
    1301 BLUE SPRUCE
    FORT COLLINS,CO80524     		NONE PC FAMILY SUPPORT SERVICES 1,000
    FOOD FROM THE HEART
    PO BOX 3908
    SANTA BARBARA,CA93130     		NONE PC FAMILY SUPPORT SERVICES 7,000
    FOODBANK OF SB
    4554 HOLLISTER AVE
    SANTA BARBARA,CA93110     		NONE PC FAMILY SUPPORT SERVICES 15,000
    FOUNDATION FOR SBCCCARE
    721 CLIFF DR
    SANTA BARBARA,CA93109     		NONE PC EDUCATION 20,800
    GIRLS INC
    HOLLISTER AVE
    SANTA BARBARA,CA93111     		NONE PC YOUTH SUPPORT SERVICES 22,700
    GREATER SANTA BARBARA ICE SKATING ASSOCIATION
    PO BOX 478
    SANTA BARBARA,CA93102     		NONE PC RECREATION AND SPORTS 10,000
    HARMONY FOUNDATION INC
    1600 FISH HATCHERY RD
    ESTES PARK,CO80517     		NONE PC ALCOHOL AND DRUG RECOVERY SERVICES 4,600
    HEARTS & HORSES
    163 N COUNTY ROAD 29
    LOVELAND,CO80537     		NONE PC DISABILITY SUPPORT SERVICES 6,000
    HIGHLAND HIGH SCHOOL
    2900 ROYAL SCOTS WAY
    BAKERSFIELD,CA93306     		NONE PC EDUCATION 4,290
    HOUSE OF NEIGHBORLY SERVICE
    565 NORTH CLEVELAND AVENUE
    LOVELAND,CO80537     		NONE PC FAMILY SUPPORT SERVICES 51,000
    JUSTICE HIGH SCHOOL
    805 EXCALIBUR STREET
    LAFAYETTE,CO80026     		NONE PC EDUCATION 4,875
    LOVELAND FOOD BANK
    245 S MADISON AVE
    LOVELAND,CO80537     		NONE PC FAMILY SUPPORT SERVICES 65,000
    MCCOOK COLLEGE FOUNDATION
    1205 E 3RD ST
    MCCOOK,NE69001     		NONE PC EDUCATION 10,000
    MCCOOK COMM HOSPITAL HEALTH FD
    801 WEST C STREET
    MCCOOK,NE69001     		NONE PC HUMAN HEALTH SERVICES 10,000
    MEALS ON WHEELS LOVELAND & BERTHOUD
    535 NORTH DOUGLAS AVE
    LOVELAND,CO80537     		NONE PC FAMILY SUPPORT SERVICES 15,000
    MENTAL WELLNESS CENTER
    617 GARDEN STREET
    SANTA BARBARA,CA93101     		NONE PC HUMAN HEALTH SERVICES 10,000
    NATURAL DISASTER SEARCH DOG FOUNDATION
    501 E OJAI AVE
    OJAI,CA93023     		NONE PC DISASTER SUPPORT SERVICES 20,000
    NEW HOUSE
    2434 BATH STREET
    SANTA BARBARA,CA93105     		NONE PC ALCOHOL AND DRUG RECOVERY SERVICES 20,000
    PAGE YOUTH CENTER
    4540 HOLLISTER AVE
    SANTA BARBARA,CA93110     		NONE PC RECREATION AND SPORTS 15,000
    PARTNERS IN EDUCATION
    PO BOX 6307
    SANTA BARBARA,CA93160     		NONE PC EDUCATION 5,000
    PATHPOINT
    315 W HALEY ST 102
    SANTA BARBARA,CA93101     		NONE PC DISABILITY SUPPORT SERVICES 10,000
    PATHWAYS HOSPICE
    585 NORTH MARY AVE
    SUNNYVALE,CA94085     		NONE PC HUMAN HEALTH SERVICES 10,000
    PINNACLE CHARTER SCHOOL
    1001 W 84TH AVENUE
    DENVER,CO80260     		NONE PC EDUCATION 4,290
    POLICE ACTION LEAGUE (PAL)
    222 E ANAPAMU STE 24
    SANTA BARBARA,CA93190     		NONE PC YOUTH SUPPORT SERVICES 10,000
    ROCKY MOUNTAIN LUTHERAN HIGH SCHOOL
    2300 W 90TH AVE
    DENVER,CO80260     		NONE PC EDUCATION 390
    SALVATION ARMY
    PO BOX 6190
    SANTA BARBARA,CA93160     		NONE PC HOMELESS SUPPORT SERVICES 7,355
    SANTA BARBARA ATHLETIC ROUND TABLE
    PO BOX 3813
    SANTA BARBARA,CA93130     		NONE PC RECREATION AND SPORTS 6,000
    SANTA BARBARA CITY COLLEGE
    721 CLIFF DRIVE
    SANTA BARBARA,CA93109     		NONE PC EDUCATION 5,000
    SANTA BARBARA FOUNDATION
    15 E CARRILLO ST
    SANTA BARBARA,CA93101     		NONE PC COMMUNITY SUPPORT SERVICES 1,000
    SANTA BARBARA HISTORICAL SOCIETY
    136 E DE LA GUERRA ST
    SANTA BARBARA,CA93101     		NONE PC EDUCATION 5,000
    SANTA BARBARA MUSEUM OF NATURAL HISTORY
    2559 PUESTA DEL SOL
    SANTA BARBARA,CA93105     		NONE PC EDUCATION 10,000
    SANTA BARBARA NEIGHBORHOOD CLINICS
    970 EMBARCADERO DEL MAR
    ISLA VISTA,CA93117     		NONE PC HUMAN HEALTH SERVICES 25,000
    SANTA BARBARA POLICE OFFICERS ASSOC
    PO BOX 687
    SANTA BARBARA,CA93102     		NONE PC COMMUNITY SUPPORT SERVICES 500
    SANTA BARBARA RESCUE MISSION
    535 E YANONALI STREET
    SANTA BARBARA,CA93103     		NONE PC ALCOHOL AND DRUG RECOVERY SERVICES 5,500
    SANTA BARBARA SCHOOL DISTRICTS
    720 SANTA BARBARA STREET
    SANTA BARBARA,CA93101     		NONE PC EDUCATION 30,000
    SANTA BARBARA YMCA
    36 HITCHCOCK WAY
    SANTA BARBARA,CA93105     		NONE PC RECREATION AND SPORTS 20,000
    SANTA BARBARA ZOOLOGICAL FNDTN
    500 NINOS DR
    SANTA BARBARA,CA93103     		NONE PC EDUCATION 78,675
    SANTA COPS OF LARIMER COUNTY
    PO BOX 580
    FORT COLLINS,CO80522     		NONE PC YOUTH SUPPORT SERVICES 1,123
    SCHOLARSHIP FOUNDATION OF SB
    PO BOX 3620
    SANTA BARBARA,CA93130     		NONE PC EDUCATION 20,000
    SEVERANCE MIDDLE SCHOOL
    1801 AVERY PLZ
    WINDSOR,CO80550     		NONE PC EDUCATION 780
    SPECIAL OLYMPICS - SANTA BARBARA
    423 W VICTORIA ST
    SANTA BARBARA,CA93101     		NONE PC DISABILITY SUPPORT SERVICES 1,000
    TEDDY BEAR CANCER FOUNDATION
    133 EAST DE LA GUERRA 163
    SANTA BARBARA,CA93101     		NONE PC HUMAN HEALTH SERVICES 18,000
    THE FIRST TEE CENTRAL COAST
    PO BOX 1611
    SUMMERLAND,CA93067     		NONE PC RECREATION AND SPORTS 10,000
    THOMPSON R-2J SCHOOL DISTRICT
    800 SOUTH TAFT AVENUE
    LOVELAND,CO80537     		NONE PC EDUCATION 35,000
    TRANSITION HOUSE
    425 EAST COTA ST
    SANTA BARBARA,CA93101     		NONE PC FAMILY SUPPORT SERVICES 19,500
    UNITED BOYS & GIRLS CLUB OF SB
    5701 HOLISTER AVE
    GOLETA,CA93116     		NONE PC YOUTH SUPPORT SERVICES 15,000
    UNITED WAY OF SANTA BARBARA
    320 EAST GUTIERREZ STREET
    SANTA BARBARA,CA93101     		NONE PC COMMUNITY SUPPORT SERVICES 20,000
    UNITY SHOPPE
    1236 CHAPALA
    SANTA BARBARA,CA93101     		NONE PC FAMILY SUPPORT SERVICES 89,500
    VISITING NURSE & HOSPICE CARE
    220 E CANON PERDIDO
    SANTA BARBARA,CA93101     		NONE PC HUMAN HEALTH SERVICES 13,000
    WELD COUNTY RE-1 SCHOOL DISTRICT
    14827 WELD COUNTY ROAD 42
    GILCREST,CO80623     		NONE PC EDUCATION 13,065
    WELD COUNTY RE-3J SCHOOL DISTRICT
    99 W BROADWAY ST
    KEENESBURG,CO80643     		NONE PC EDUCATION 3,100
    WELD COUNTY RE-8 SCHOOL DISTRICT
    301 REYNOLDS STREET
    FORT LUPTON,CO80621     		NONE PC EDUCATION 14,820
    WELD COUNTY SCHOOL DISTRICT RE-7
    501 CLARK ST
    KERSEY,CO80644     		NONE PC EDUCATION 4,485
    WINDSOR SCHOOL DISTRICT
    1020 MAIN STREET
    WINDSOR,CO80550     		NONE PC EDUCATION 2,633
    YOUNG LIFE
    123 W PADRE ST 3
    SANTA BARBARA,CA93105     		NONE PC YOUTH SUPPORT SERVICES 28,850
    CHILDREN'S MUSEUM OF SANTA BARBARA (MOXI)
    1236 E DE LA GUERRA ST
    SANTA BARBARA,CA93101     		NONE PC EDUCATION 5,000
    COMMUNITY KITCHEN
    816 CACIQUE STREET
    SANTA BARBARA,CA93103     		NONE PC FAMILY SUPPORT SERVICES 1,000
    LOVELAND HABITAT FOR HUMANITY
    5250 GARFIELD N HWY 287
    LOVELAND,CO80538     		NONE PC FAMILY SUPPORT SERVICES 6,000
    LA CUMBRE JUNIOR HIGH SCHOOL FOUNDATION
    2255 MODOC ROAD
    SANTA BARBARA,CA93101     		NONE PC EDUCATION 10,000
    OPEN ALTERNATIVE SCHOOL
    4025 FOOTHILL ROAD
    SANTA BARBARA,CA93110     		NONE PC EDUCATION 2,000
    PROJECT SELF-SUFFICIENCY
    2001 S SHIELD ST D-203
    FORT COLLINS,CO80526     		NONE PC FAMILY SUPPORT SERVICES 1,000
    SANTA BARBARA CULTURAL DEVELOPMENT FOUNDATION
    PO BOX 1357
    SUMMERLAND,CA93067     		NONE PC MUSIC AND THE ARTS 5,000
    SANTA BARBARA SCHOOL OF SQUASH
    1530 CHAPALA STREET SUITE B
    SANTA BARBARA,CA93101     		NONE PC RECREATION AND SPORTS 10,000
    Total .................................bullet 3a 1,159,616
    bApproved for future payment
    Total .................................bullet 3b 0
    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 2,560  
    4 Dividends and interest from securities....     14 551,230  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 -2,765  
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income..... 523000 2,238 15 6,428  
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 4,441,777  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 2,238 4,999,230 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    135,001,468
    (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
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    with the preparer shown below
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    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
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    Phone no.
    Form 990-PF (2014)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2014 AccountingFeesSchedule
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    DAMITZ, BROOKS, NIGTHINGALE, ET AL 34,242 25,681   8,561

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2014 DepreciationSchedule
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    BUILDING 2001-12-20 752,332 207,527 SL 39.000000000000 19,291 0    
    LAND 2001-12-20 112,418   L   0 0    
    FMV IN EXCESS OF BASIS 2001-12-20 60,000   L   0 0    
    COPIER/FAX 2004-01-26 842 842 SL 5.000000000000 0 0    
    FOUNDATION OFFICE CHAIRS 2004-02-17 3,507 3,507 200DB 7.000000000000 0 0    
    CONFERENCE TABLE 2004-02-24 4,254 4,254 200DB 7.000000000000 0 0    
    OFFICE FURNITURE 2005-10-27 2,353 2,287 200DB 7.000000000000 0 0    
    COPIER/FAX 2006-03-13 3,212 3,212 200DB 5.000000000000 0 0    
    OFFICE SOFA 2006-03-31 1,600 1,600 200DB 7.000000000000 0 0    
    OFFICE FURNITURE 2006-04-30 1,540 1,540 200DB 7.000000000000 0 0    
    COMPUTER 2009-06-15 1,748 1,604 SL 5.000000000000 144 0    
    HP LASER JET P3015 2011-01-03 795 477 SL 5.000000000000 159 0    
    HP LASER JET P3015 2011-06-30 630 315 SL 5.000000000000 126 0    
    BUILDING REMODEL 2012-07-01 892,939 34,344 SL 39.000000000000 22,896 0    
    DESK 2012-01-25 10,364 3,973 SL 5.000000000000 2,073 0    
    BUILDING REMODEL 2013-07-01 30,678 393 SL 39.000000000000 787 0    
    REMOVABLE WALL 2013-07-01 19,855 662 SL 15.000000000000 1,324 0    
    BUILDING 2001-12-20 335,168 109,642 SL 39.000000000000 8,594 0    
    LAND 2001-12-20 50,082   L   0 0    
    ELECTRICAL RECONFIGURATION 2014-09-30 5,512   SL 39.000000000000 35 0    
    DELL OFFICE COMPUTER 2014-12-15 2,594   SL 5.000000000000 43 0    
    COPIER 2014-06-06 1,101   SL 5.000000000000 128 0    

    TY 2014 GeneralExplanationAttachment
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Identifier Return Reference Explanation
    SERVICES FROM DISQUALIFIED PERSON FORM 990-PF, PART VII-B, LINE 1A(3) THE FOUNDATION UTILIZES THE SERVICES OF THE LAW FIRM OF SEED MACKALL FOR LEGAL CONSULTING; MR. MACKALL IS A PRINCIPAL OF THE LAW FIRM AND A DIRECTOR OF THE FOUNDATION. FOR THESE SERVICES THE FOUNDATION PAYS THE USUAL AND CUSTOMARY FEES AS BILLED TO IT BY THIS ENTITY.
    BALANCE SHEET, LINE 13, INVESTMENTS - OTHER FORM 990-PF, PART II INCLUDES INVESTMENTS IN US TREASURY OBLIGATIONS, CORPORATE STOCK (DOMESTIC AND FOREIGN), CORPORATE BONDS, AND MUTUAL FUND INVESTMENTS.

    TY 2014 InvestmentsLandSchedule2
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDING 565,500 179,428 386,072 525,806
    LAND 115,700 0 115,700 157,576
    REMODEL 500,518 30,980 469,538 639,481
    FURNITURE AND FIXTURES 19,855 1,986 17,869 17,869

    TY 2014 InvestmentsOtherSchedule2
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    FIDELITY #219 AT COST 0 0
    FIDELITY #227 AT COST 0 0
    FIDELITY #235 AT COST 0 0
    FIDELITY #251 AT COST 0 0
    FIDELITY #260 AT COST 0 0
    FIDELITY #278 AT COST 0 0
    FIDELITY #286 AT COST 0 0
    TRITON PACIFIC AT COST 100,000 100,000
    FISCHER GARRISON OFFSHORE AT COST 3,199 3,957
    LANX OFFSHORE PARTNERS II AT COST 6,566 3,909
    TERRAPIN OFFSHORE AT COST 4,250 5,984
    NORTHERN TRUST #797 AT COST 3,710,955 4,123,049
    NORTHERN TRUST #934 AT COST 524,170 668,189
    NORTHERN TRUST HEDGE FUND OF FUNDS AT COST 1,869,920 1,674,460
    NORTHERN TRUST PRIVATE EQUITY AT COST 811,651 1,360,074
    NORTHER TRUST PRIVATE EQUITY CORE FUND AT COST 55,966 58,000
    NORTHERN TRUST DIRECT REAL ESTATE AT COST 1,211,485 1,157,572
    NORTHERN TRUST COMMODITIES AT COST 1,047,245 813,952
    NORTHERN TRUST CORPORATE/GOVERNMENT AT COST 255,195 252,900
    UNION BANK AT COST 0 0
    MINERAL INTEREST - WATERFLOOD AT COST 10,025 17,255
    MINERAL INTEREST - ACKMAN AT COST 360 862
    GOLDMAN SACHS #7660 AT COST 221,362 221,868
    GOLDMAN SACHS #8452 AT COST 3,095,987 3,100,703
    GOLDMAN SACHS #8718 AT COST 1,997,677 1,994,817
    MONTECITO BANK & TRUST #8459-00 AT COST 235,463 234,832

    TY 2014 LandEtcSchedule2
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    FURNITURE AND FIXTURES 27,138 18,882 8,256 8,256
    REMODEL 428,611 27,475 401,136 546,322
    BUILDING 522,000 165,626 356,374 485,359
    LAND 106,799 0 106,799 145,455


    TY 2014 LegalFeesSchedule
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SEED, MACKALL LLP 1,260 630   630


    TY 2014 OtherAssetsSchedule
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    LEASE COMMISSIONS 0 2,448 2,448


    TY 2014 OtherExpensesSchedule
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 29,836 14,918   14,918
    AUTO EXPENSE 970 485   485
    MISCELLANEOUS 870 435   435
    OFFICE EXPENSE 12,444 6,222   6,222
    RENTAL EXPENSES 17,588 17,588   0


    TY 2014 OtherIncomeSchedule2
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PARTNERSHIP UNRELATED BUSINESS INCOME 2,238 0 2,238
    ROYALTY INCOME - MINERAL INTERESTS 6,428 6,428 6,428


    TY 2014 OtherLiabilitiesSchedule
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Description Beginning of Year - Book Value End of Year - Book Value
    PAYROLL TAXES PAYABLE 2,423 1,332
    SECURITY DEPOSITS 0 6,975
    CREDIT CARDS 0 426


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT ADVISOR FEES 209,406 209,406   0
    CONSULTING 1,125 563   562


    TY 2014 TaxesSchedule
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN: 77-0203235
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FILING FEES 160 0   160
    PAYROLL TAXES 7,800 3,900   3,900
    REAL ESTATE TAXES 8,817 4,409   4,408
    FOREIGN TAXES 5,112 5,112   0
    FEDERAL 990PF 49,500 0   0
    UNRELATED BUSINESS INCOME TAX 5,687 0   0
    UNRELATED BUSINESS INCOME TAX-CA 1,590 0   0
    UNRELATED BUSINESS INCOME TAX PENALTIES 147 0   0