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
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
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:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$28,484,728J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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 51,916 51,916  
4 Dividends and interest from securities... 540,615 540,615  
5a Gross rents............ 69,451 69,451  
b Net rental income or (loss) 24,552
6a Net gain or (loss) from sale of assets not on line 10 524,434
b Gross sales price for all assets on line 6a 9,924,080
7 Capital gain net income (from Part IV, line 2)... 524,434
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 12,147 6,528  
12 Total. Add lines 1 through 11........ 1,198,563 1,192,944  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 183,983 91,991   91,992
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 337 169   168
b Accounting fees (attach schedule)....... Click to see attachment 55,466 41,600   13,866
c Other professional fees (attach schedule).... Click to see attachment 229,355 228,335   1,020
17 Interest............... 1,296 1,296   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 94,468 22,992   9,277
19 Depreciation (attach schedule) and depletion... Click to see attachment 56,788 43,052  
20 Occupancy.............. 22,283 11,741   10,542
21 Travel, conferences, and meetings....... 5,671 2,836   2,835
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 41,486 23,347   18,141
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 691,133 467,359   147,841
25 Contributions, gifts, grants paid....... 1,231,811 1,231,811
26 Total expenses and disbursements. Add lines 24 and 25 1,922,944 467,359   1,379,652
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -724,381
b Net investment income (if negative, enter -0-) 725,585
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
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......... 12,181,298 644,333 644,333
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 bullet1,252,878
Less: accumulated depreciation (attach schedule) bullet245,877 989,179 Click to see attachment1,007,001 1,365,695
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 15,161,476 Click to see attachment25,976,532 25,287,772
14 Land, buildings, and equipment: basis bullet1,084,548
Less: accumulated depreciation (attach schedule) bullet235,288 872,565 Click to see attachment849,260 1,181,298
15 Other assets (describe bullet) Click to see attachment2,448 Click to see attachment5,630 Click to see attachment5,630
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 29,206,966 28,482,756 28,484,728
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 attachment8,733 Click to see attachment8,904
23 Total liabilities (add lines 17 through 22)......... 8,733 8,904
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 29,198,233 28,473,852
30 Total net assets or fund balances (see instructions)..... 29,198,233 28,473,852
31 Total liabilities and net assets/fund balances (see instructions). 29,206,966 28,482,756
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
29,198,233
2
Enter amount from Part I, line 27a .....................
2
-724,381
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
28,473,852
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
28,473,852
Form 990-PF (2015)
Form 990-PF (2015)
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 #219 SECURITIES      
b GOLDMAN SACHS #7660 HARDING      
c GOLDMAN SACHS #8452 EQUITIES & FIXED INCOME      
d GOLDMAN SACHS #8718 CORPORATE FIXED INCOME      
e GOLDMAN SACHS #8688      
GOLDMAN SACHS #8726      
GOLDMAN SACHS #8734      
GOLDMAN SACHS #8742      
MONTECITO BANK & TRUST #8459-00      
MONTECITO BANK & TRUST #8459-01      
NORTHERN TRUST #96747      
NORTHERN TRUST #4797      
NORTHERN TRUST #3934      
FISCHER GARRISON      
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 421   470 -49
b 83,423   78,442 4,981
c 1,626,921   1,553,700 73,221
d 282,975   283,498 -523
e 473,997   453,758 20,239
422,466   444,591 -22,125
623,643   616,411 7,232
612,159   596,185 15,974
3,042,372   3,148,060 -105,688
325,505   330,385 -4,880
334,350   594,379 -260,029
875,000   643,082 231,918
809,254   655,188 154,066
    1,497 -1,497
75,381     75,381
261,003     261,003
75,210     75,210
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       -49
b       4,981
c       73,221
d       -523
e       20,239
      -22,125
      7,232
      15,974
      -105,688
      -4,880
      -260,029
      231,918
      154,066
      -1,497
      75,381
      261,003
      75,210
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 2 524,434
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))
2014 1,297,947 29,324,346 0.044262
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
2
Total of line 1, column (d) .....................
20.234800
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
0.046960
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
28,750,643
5
Multiply line 4 by line 3......................
5
1,350,130
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
7,256
7
Add lines 5 and 6........................
7
1,357,386
8
Enter qualifying distributions from Part XII, line 4.............
8
1,379,652
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 (2015)
Form 990-PF (2015)
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 Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 7,256
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 7,256
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 7,256
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 6,000
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 9,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 15,000
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 6
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 7,738
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet7,738 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 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    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 2015, 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  
    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 2015?.............
    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 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    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 2015 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 2015.)..................
    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 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    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 (2015)
    Form 990-PF (2015)
    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 VICE PRESIDENT
    5.00     		28,800 0 1,461
    19 W CARRILLO STREET
    SANTA BARBARA,CA93101
    DIANE K HAYES PRESIDENT
    30.00     		75,747 18,478 0
    19 W CARRILLO STREET
    SANTA BARBARA,CA93101
    CLAUDETTE SABIRON SECRETARY
    30.00     		54,936 16,886 0
    19 W CARRILLO STREET
    SANTA BARBARA,CA93101
    CATHERINE MACAULAY TREASURER
    1.00     		10,500 0 0
    19 W CARRILLO STREET
    SANTA BARBARA,CA93101
    RICHARD A NIGHTINGALE CHIEF FINANCIAL OFFICER
    1.00     		14,000 0 0
    19 W CARRILLO STREET
    SANTA BARBARA,CA93101
    JOHN MACKALL FORMER OFFICER
    0.00     		0 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  
    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
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    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
    26,334,293
    b
    Average of monthly cash balances.......................
    1b
    1,470,365
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,383,812
    d
    Total (add lines 1a, b, and c).........................
    1d
    29,188,470
    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
    29,188,470
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    437,827
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    28,750,643
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,437,532
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    1,437,532
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    7,256
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
    391
    c
    Add lines 2a and 2b............................
    2c
    7,647
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,429,885
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,429,885
    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
    1,429,885
    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
    1,379,652
    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
    1,379,652
    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
    7,256
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,372,396
    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 (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 1,429,885
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 1,320,574
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 1,379,652
    a Applied to 2014, but not more than line 2a 1,320,574
    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 2015 distributable amount..... 59,078
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2015. 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 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		1,370,807
    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 2010 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014....  
    e Excess from 2015....  
    Form 990-PF (2015)
    Form 990-PF (2015)
    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 2015, 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) 2015 (b) 2014 (c) 2013 (d) 2012
             
    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 (2015)
    Form 990-PF (2015)
    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 (AHA)
    1209 DE LA VINA STE A
    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 10,000
    AMERICAN HEART ASSOCIATION
    212 W FIGUEROA ST
    SANTA BARBARA,CA93101     		NONE PC HUMAN HEALTH SERVICES 375
    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 2,000
    CASA COURT APPOINTED SPEC ADV
    402 E GUTIERREZ ST
    SANTA BARBARA,CA93101     		NONE PC CHILD ABUSE TREATMENT AND PREVENTION 16,000
    CASA SERENA
    1515 BATH ST
    SANTA BARBARA,CA93101     		NONE PC ALCOHOL AND DRUG RECOVERY SERVICES 25,000
    CHILDREN'S MUSEUM OF SANTA BARBARA (MOXI)
    125 STATE ST
    SANTA BARBARA,CA93101     		NONE PC EDUCATION 25,000
    COMMUNITY KITCHEN
    816 CACIQUE STREET
    SANTA BARBARA,CA93103     		NONE PC FAMILY SUPPORT SERVICES 4,500
    COTTAGE HEALTH SYSTEMS
    PO BOX 689
    SANTA BARBARA,CA93102     		NONE PC HUMAN HEALTH SERVICES 60,000
    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 25,000
    DOMESTIC VIOLENCE SOLUTIONS
    PO BOX 3782
    SANTA BARBARA,CA93103     		NONE PC FAMILY SUPPORT SERVICES 10,000
    DREAM FOUNDATION
    1528 CHAPALA ST 304
    SANTA BARBARA,CA93101     		NONE PC WISHES TO ADULTS BATTLING TERMINAL ILLNESS 5,000
    EASTSIDE BOYS & GIRLS CLUB
    632 E CANON PERDIDO ST
    SANTA BARBARA,CA93101     		NONE PC YOUTH SUPPORT SERVICES 5,000
    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
    ESTES PARK SCHOOL DISTRICT RE3
    1605 BRODIE AVE
    ESTES PARK,CO80517     		NONE PC EDUCATION 5,180
    FAMILY SERVICE AGENCY
    123 W GUTIERREZ ST
    SANTA BARBARA,CA93101     		NONE PC FAMILY SUPPORT SERVICES 10,000
    FIGHTING BACK MENTOR PROGRAM
    232 E CANON PERDIDO ST
    SANTA BARBARA,CA93101     		NONE PC MENTOR PROGRAM 4,750
    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 9,000
    FOODBANK OF SB
    4554 HOLLISTER AVE
    SANTA BARBARA,CA93110     		NONE PC FAMILY SUPPORT SERVICES 25,000
    FOUNDATION FOR SBCCCARE
    721 CLIFF DR
    SANTA BARBARA,CA93109     		NONE PC EDUCATION 20,450
    GIRLS INC
    HOLLISTER AVE
    SANTA BARBARA,CA93111     		NONE PC YOUTH SUPPORT SERVICES 25,500
    GREATER SANTA BARBARA ICE SKATING ASSOCIATION
    PO BOX 478
    SANTA BARBARA,CA93102     		NONE PC RECREATION AND SPORTS 10,000
    HABITAT FOR HUMANITY
    6860 CORTONA DR A
    GOLETA,CA93117     		NONE PC AFFORDABLE HOME OWNERSHIP 5,000
    HARMONY FOUNDATION INC
    1600 FISH HATCHERY RD
    ESTES PARK,CO80517     		NONE PC ALCOHOL AND DRUG RECOVERY SERVICES 7,800
    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 5,070
    HONOR FLIGHT INC
    175 SOUTH TUTTLE ROAD
    SPRINGFIELD,OH45505     		NONE PC VETERAN MEMORIAL SERVICES 2,000
    HOUSE OF NEIGHBORLY SERVICE
    565 NORTH CLEVELAND AVENUE
    LOVELAND,CO80537     		NONE PC FAMILY SUPPORT SERVICES 61,000
    JUSTICE HIGH SCHOOL
    805 EXCALIBUR STREET
    LAFAYETTE,CO80026     		NONE PC EDUCATION 4,875
    KIDS PACK HOPE AND CHARITY FOR CHILDREN
    3725 FRONTAGE ROAD NORTH SUITE 1
    LAKELAND,FL33810     		NONE PC YOUTH SERVICES 5,000
    LA CUMBRE JUNIOR HIGH SCHOOL FOUNDATION
    2255 MODOC ROAD
    SANTA BARBARA,CA93101     		NONE PC EDUCATION 10,000
    LOBERO THEATRE FOUNDATION
    33 E CANNON PERDIDO STREET
    SANTA BARBARA,CA93101     		NONE PC ARTS 110
    LOVELAND FOOD BANK
    245 S MADISON AVE
    LOVELAND,CO80537     		NONE PC FAMILY SUPPORT SERVICES 20,000
    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 20,000
    MENTAL WELLNESS CENTER
    617 GARDEN STREET
    SANTA BARBARA,CA93101     		NONE PC HUMAN HEALTH SERVICES 10,000
    NEW HOUSE
    2434 BATH STREET
    SANTA BARBARA,CA93105     		NONE PC ALCOHOL AND DRUG RECOVERY SERVICES 20,000
    OPEN ALTERNATIVE SCHOOL
    4025 FOOTHILL ROAD
    SANTA BARBARA,CA93110     		NONE PC EDUCATION 1,000
    PAGE YOUTH CENTER
    4540 HOLLISTER AVE
    SANTA BARBARA,CA93110     		NONE PC RECREATION AND SPORTS 15,000
    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 5,070
    POLICE ACTION LEAGUE (PAL)
    222 E ANAPAMU STE 24
    SANTA BARBARA,CA93190     		NONE PC YOUTH SUPPORT SERVICES 14,250
    PROJECT SELF-SUFFICIENCY
    2001 S SHIELD ST D-203
    FORT COLLINS,CO80526     		NONE PC FAMILY 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 17,000
    SALVATION ARMY OF LOVELAND
    840 N LINCOLN AVE
    LOVELAND,CO80537     		NONE PC GENERAL 5,000
    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 3,119
    SANTA BARBARA CITY COLLEGE SOFTBALL TRUST
    721 CLIFF DR
    SANTA BARBARA,CA93109     		NONE PC COLLEGE SPORTS 5,000
    SANTA BARBARA HIGH SCHOOL
    700 E ANAPAMU
    SANTA BARBARA,CA93103     		NONE PC EDUCATION 3,000
    SANTA BARBARA HISTORICAL SOCIETY
    136 E DE LA GUERRA ST
    SANTA BARBARA,CA93101     		NONE PC EDUCATION 5,000
    SANTA BARBARA INTERNATIONAL FILM FESTIVAL
    1528 CHAPALA ST 203
    SANTA BARBARA,CA93101     		NONE PC ARTS 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 66,000
    SANTA BARBARA SCHOOL DISTRICTS
    720 SANTA BARBARA STREET
    SANTA BARBARA,CA93101     		NONE PC EDUCATION 25,000
    SANTA BARBARA SCHOOL OF SQUASH
    1530 CHAPALA STREET SUITE B
    SANTA BARBARA,CA93101     		NONE PC RECREATION AND SPORTS 10,000
    SANTA BARBARA YMCA
    36 HITCHCOCK WAY
    SANTA BARBARA,CA93105     		NONE PC RECREATION AND SPORTS 10,000
    SANTA BARBARA ZOOLOGICAL FNDTN
    500 NINOS DR
    SANTA BARBARA,CA93103     		NONE PC EDUCATION 85,000
    SANTA COPS OF LARIMER COUNTY
    PO BOX 580
    FORT COLLINS,CO80522     		NONE PC YOUTH SUPPORT SERVICES 2,150
    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
    STORYTELLER
    2115 STATE ST
    SANTA BARBARA,CA93105     		NONE PC EDUCATION 10,000
    TEDDY BEAR CANCER FOUNDATION
    133 EAST DE LA GUERRA 163
    SANTA BARBARA,CA93101     		NONE PC HUMAN HEALTH SERVICES 10,300
    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 30,000
    TRANSITION HOUSE
    425 EAST COTA ST
    SANTA BARBARA,CA93101     		NONE PC FAMILY SUPPORT SERVICES 23,000
    UCSB FOUNDATION
    1210 CHEADLE HALL
    SANTA BARBARA,CA93106     		NONE PC GUARDIAN SCHOLARS PROGRAM 10,000
    UNITED BOYS & GIRLS CLUB OF SB
    5701 HOLISTER AVE
    GOLETA,CA93116     		NONE PC YOUTH SUPPORT SERVICES 10,000
    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 45,000
    VILLAGE PROPERTIES TEACHER'S FUND
    1250 COAST VILLAGE ROAD
    SANTA BARBARA,CA93108     		NONE PC EDUCATION 2,000
    VISITING NURSE & HOSPICE CARE
    220 E CANON PERDIDO
    SANTA BARBARA,CA93101     		NONE PC HUMAN HEALTH SERVICES 12,500
    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 5,276
    WELD COUNTY RE-8 SCHOOL DISTRICT
    301 REYNOLDS STREET
    FORT LUPTON,CO80621     		NONE PC EDUCATION 14,430
    WELD COUNTY SCHOOL DISTRICT RE-7
    501 CLARK ST
    KERSEY,CO80644     		NONE PC EDUCATION 6,630
    WILDERNESS YOUTH PROJECT
    5386 HOLLISTER AVE
    SANTA BARBARA,CA93111     		NONE PC RECREATION AND SPORTS 5,000
    WINDSOR SCHOOL DISTRICT
    1020 MAIN STREET
    WINDSOR,CO80550     		NONE PC EDUCATION 1,951
    YOUNG LIFE
    123 W PADRE ST 3
    SANTA BARBARA,CA93105     		NONE PC YOUTH SUPPORT SERVICES 27,000
    COLORADO YOUTH OUTDOORS
    10 LAKE CIRCLE
    COLORADO SPRINGS,CO80906     		NONE PC YOUTH SUPPORT SERVICES 5,000
    NEW BEGINNINGS COUNSELING CENTER
    324 E CARRILLO ST C
    SANTA BARBARA,CA93101     		NONE PC COUNSELNG SERVICES 10,000
    YOUTH AND FAMILY SERVICES YMCA
    105 E CARRILLO ST
    SANTA BARBARA,CA93101     		NONE PC FAMILY PROGRAMS 10,000
    Total .................................bullet 3a 1,231,811
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2015)
    Form 990-PF (2015)
    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 51,916  
    4 Dividends and interest from securities....     14 540,615  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 24,552  
    6
    Net rental income or (loss) from personal property     		         
    7 Other investment income..... 523000 5,619 15 6,528  
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 524,434  
    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).. 5,619 1,148,045 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,153,664
    (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 (2015)
    Form 990-PF (2015)
    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 organizations?
    Yes
    No
    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 name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2015)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 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 55,466 41,600   13,866

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

    TY 2015 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 2001-12-20 752,332 226,818 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    
    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    
    OFFICE FURNITURE 2006-04-30 1,540 1,540 200DB 7.000000000000 0 0    
    HP LASER JET P3015 2011-01-03 795 636 SL 5.000000000000 159 0    
    HP LASER JET P3015 2011-06-30 630 441 SL 5.000000000000 126 0    
    BUILDING REMODEL 2012-07-01 892,939 57,240 SL 39.000000000000 22,896 0    
    DESK 2012-01-25 10,364 6,046 SL 5.000000000000 2,073 0    
    BUILDING REMODEL 2013-07-01 30,678 1,180 SL 39.000000000000 787 0    
    REMOVABLE WALL 2013-07-01 19,855 1,986 SL 15.000000000000 1,324 0    
    BUILDING REMODEL 2015-07-01 51,305   SL 39.000000000000 658 0    
    BUILDING 2001-12-20 335,168 118,236 SL 39.000000000000 8,594 0    
    LAND 2001-12-20 50,082   L   0 0    
    ELECTRICAL RECONFIGURATION 2014-09-30 5,512 35 SL 39.000000000000 141 0    
    DELL OFFICE COMPUTER 2014-12-15 2,594 43 SL 5.000000000000 519 0    
    COPIER 2014-06-06 1,101 128 SL 5.000000000000 220 0    

    TY 2015 GeneralExplanationAttachment
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN:
    77-0203235
    Identifier Return Reference Explanation
    PART VII-B, LINE 1A(3): FORM 990-PF THE FOUNDATION UTILIZES THE SERVICES OF THE CPA FIRM DAMITZ,BROOKS, NIGHTINGALE, TURNER & MORRISSET FOR TAX RETURNAND ACCOUNTING SERVICES; MRS. MACAULAY IS A PARTNEROF THE ACCOUNTING FIRM AND A TREASURER OF THE FOUNDATION.FOR THESE SERVICES THE FOUNDATION PAYS THE USUAL ANDCUSTOMARY FEES AS BILLED TO IT BY THIS ENTITY.

    TY 2015 InvestmentsLandSchedule2
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN:
    77-0203235
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDING 565,500 193,928 371,572 617,241
    LAND 115,700 0 115,700 126,286
    REMODEL 551,823 39,810 512,013 602,313
    FURNITURE AND FIXTURES 19,855 12,139 7,716 19,855

    TY 2015 InvestmentsOtherSchedule2
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN:
    77-0203235
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    TRITON PACIFIC AT COST 100,000 79,311
    FISCHER GARRISON OFFSHORE AT COST 1,224 2,681
    LANX OFFSHORE PARTNERS II AT COST 6,566 3,853
    TERRAPIN OFFSHORE AT COST 4,250 6,953
    NORTHERN TRUST #797 AT COST 4,127,415 3,991,506
    NORTHERN TRUST #934 AT COST 0 0
    NORTHERN TRUST HEDGE FUND OF FUNDS AT COST 2,966,628 2,717,229
    NORTHERN TRUST PRIVATE EQUITY AT COST 889,226 1,391,784
    NORTHER TRUST PRIVATE EQUITY CORE FUND AT COST 56,759 88,837
    NORTHERN TRUST DIRECT REAL ESTATE AT COST 0 0
    NORTHERN TRUST COMMODITIES AT COST 722,530 489,500
    NORTHERN TRUST CORPORATE/GOVERNMENT AT COST 825,480 778,368
    MINERAL INTEREST - WATERFLOOD AT COST 10,025 10,025
    MINERAL INTEREST - ACKMAN AT COST 360 360
    GOLDMAN SACHS #7660 AT COST 627,488 604,549
    GOLDMAN SACHS #8452 AT COST 5,240,761 4,972,831
    GOLDMAN SACHS #8668 AT COST 583,536 579,130
    GOLDMAN SACHS #8718 AT COST 2,631,675 2,583,927
    GOLDMAN SACHS #8726 AT COST 384,453 380,395
    GOLDMAN SACHS #8734 AT COST 620,489 631,391
    GOLDMAN SACHS #8742 AT COST 528,153 463,843
    MONTECITO BANK & TRUST #8459-00 AT COST 3,960,503 3,837,209
    MONTECITO BANK & TRUST #8459-01 AT COST 1,689,011 1,674,090

    TY 2015 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 13,150 13,988 27,138
    REMODEL 428,611 43,127 385,484 467,827
    BUILDING 522,000 179,011 342,989 569,761
    LAND 106,799 0 106,799 116,572


    TY 2015 LegalFeesSchedule
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN:
    77-0203235
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SEED, MACKALL LLP 337 169   168


    TY 2015 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 2,448 5,630 5,630


    TY 2015 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 33,592 18,115   15,477
    AUTO EXPENSE 1,195 598   598
    MISCELLANEOUS 664 332   332
    OFFICE EXPENSE 3,467 1,734   1,734
    RENTAL EXPENSES 2,448 2,448   0
    FINANCE CHARGE 39 39   0
    MISC INVESTMENT EXPENSE 81 81   0


    TY 2015 OtherIncomeSchedule2
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN:
    77-0203235
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PARTNERSHIP UNRELATED BUSINESS INCOME 5,619 0 5,619
    ROYALTY INCOME - MINERAL INTERESTS 6,528 6,528 6,528


    TY 2015 OtherLiabilitiesSchedule
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN:
    77-0203235
    Description Beginning of Year - Book Value End of Year - Book Value
    PAYROLL TAXES PAYABLE 1,332 3,629
    SECURITY DEPOSITS 6,975 5,275
    CREDIT CARDS 426 0


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    VOLENTINE FAMILY FOUNDATION
    EIN:
    77-0203235
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT ADVISOR FEES 227,314 227,314   0
    CONSULTING 2,041 1,021   1,020


    TY 2015 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 9,749 4,875   4,874
    REAL ESTATE TAXES 17,784 13,541   4,243
    FOREIGN TAXES 4,576 4,576   0
    FEDERAL 990PF 59,328 0   0
    UNRELATED BUSINESS INCOME TAX 0 0   0
    UNRELATED BUSINESS INCOME TAX-CA 2,014 0   0
    UNRELATED BUSINESS INCOME TAX PENALTIES 857 0   0