Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
The Roberts Foundation
 
% KKR ACCOUNTING SERVICES LLC
Number and street (or P.O. box number if mail is not delivered to street address)C/O KKRAS 2755 CAMPUS DRIVE Suite
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SAN MATEO, CA94403
A Employer identification number

94-2967074
B Telephone number (see instructions)

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

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... 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$89,185,315J 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) 43,112,678
2 Check bullet.............
3 Interest on savings and temporary cash investments 284,356 284,356  
4 Dividends and interest from securities... 1,215,474 1,215,474  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,748,737
b Gross sales price for all assets on line 6a 6,326,389
7 Capital gain net income (from Part IV, line 2)... 1,736,332
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 102,458 3,327  
12 Total. Add lines 1 through 11........ 46,463,703 3,239,489  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 246,230 203,717   42,513
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 6,184 6,174   10
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 29,042 6,863   22,179
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 281,456 216,754   64,702
25 Contributions, gifts, grants paid....... 32,616,538 32,616,538
26 Total expenses and disbursements. Add lines 24 and 25 32,897,994 216,754   32,681,240
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 13,565,709
b Net investment income (if negative, enter -0-) 3,022,735
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
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......... 24,026,695 16,521,787 16,521,787
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)....... 28,229,470 Click to see attachment48,175,757 60,685,002
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 16,423,209 Click to see attachment15,236,602 9,948,151
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment2,115,799 Click to see attachment2,030,375 Click to see attachment2,030,375
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 70,795,173 81,964,521 89,185,315
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons 2,000,000 Click to see attachment0
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 2,000,000 0
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 68,795,173 81,964,521
30 Total net assets or fund balances (see instructions)..... 68,795,173 81,964,521
31 Total liabilities and net assets/fund balances (see instructions). 70,795,173 81,964,521
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
68,795,173
2
Enter amount from Part I, line 27a .....................
2
13,565,709
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
6,132
4
Add lines 1, 2, and 3 ..........................
4
82,367,014
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
402,493
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
81,964,521
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b KKR GROUP INVESTMENTS II - NEW VERNON INDIA FUND      
c KKR & CO      
d KKR PARTNERS II (INTERNATIONAL), LP      
e KKR ASSOCIATES 2006 (OVERSEAS) LP      
KKR ASSOCIATES EUROPE II LP      
KKR ASSOCIATES HOLDINGS L.P.      
KKR ASSOCIATES RESERVE LLC      
KKR 2006 SLP LP      
KKR SLP II LP      
HOUSATONIC EQUITY INVESTORS II      
HOUSATONIC EQUITY PARTNERS      
VALUE PARTNERS LTD      
CAPITAL GAIN 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 6,194,776   4,840,764 1,354,012
b       98,858
c       5,028
d       30,666
e       7,464
      3,767
      63,854
      14,887
      4,271
      2,389
      -2,196
      -5,534
      -16,334
      175,200
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       1,354,012
b        
c        
d        
e        
       
       
       
       
       
       
       
       
       
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 1,736,332
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))
2017 32,580,847 94,068,024 0.346354
2016 36,931,723 74,977,640 0.49257
2015 27,470,593 86,646,506 0.317042
2014 34,899,087 120,476,925 0.289674
2013 33,303,902 110,589,383 0.301149
2
Total of line 1, column (d) .....................
2
1.746789
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.349358
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
73,597,303
5
Multiply line 4 by line 3......................
5
25,711,807
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
30,227
7
Add lines 5 and 6........................
7
25,742,034
8
Enter qualifying distributions from Part XII, line 4,.............
8
32,681,240
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 (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 30,227
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  
3 Add lines 1 and 2........................... 3 30,227
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 30,227
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 154,598
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 154,598
8 Enter any penalty for underpayment of estimated tax. Check here 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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 124,371
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet124,371 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? Click to see list of attachments....................
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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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 changesClick to see list of attachments....
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.Click to see list of attachments
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 2018 or the taxable year beginning in 2018? See the 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 (2018)
    Form 990-PF (2018)
    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 ofbulletKKR ACCOUNTING SERVICES LLC Telephone no.bullet (650) 653-2422

    Located atbullet2755 CAMPUS DRIVE SUITE 940SAN MATEOCA ZIP+4bullet94403
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, 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 the instructions for exceptions and filing requirements for FinCEN Form 114. 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
     
     
    ........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 2018?.............
    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 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    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 2018 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 2018.)..................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    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:
    Yes
    No
    (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
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    GEORGE R ROBERTS PRESIDENT
    1.0     		0 0 0
    2800 SAND HILL ROAD SUITE 200
    MENLO PARK,CA94025
    ERIC B ROBERTS VICE PRESIDENT
    1.0     		0 0 0
    2800 SAND HILL ROAD SUITE 200
    MENLO PARK,CA94025
    MARK B ROBERTS VICE PRESIDENT
    1.0     		0 0 0
    2800 SAND HILL ROAD SUITE 200
    MENLO PARK,CA94025
    COURTNEY A ROBERTS VICE PRESIDENT
    1.0     		0 0 0
    2800 SAND HILL ROAD SUITE 200
    MENLO PARK,CA94025
    SUE P DOELL SECRETARY/TREASURER
    1.0     		0 0 0
    2755 CAMPUS DRIVE SUITE 240
    MENLO PARK,CA94403
    LINNEA C ROBERTS VICE PRESIDENT
    1.0     		0 0 0
    2800 SAND HILL ROAD SUITE 200
    MENLO PARK,CA94025
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
     
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    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
     
    Total number of others receiving over $50,000 for professional services.............bullet  
    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.........................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    46,607,266
    b
    Average of monthly cash balances.......................
    1b
    16,132,282
    c
    Fair market value of all other assets (see instructions)................
    1c
    11,978,526
    d
    Total (add lines 1a, b, and c).........................
    1d
    74,718,074
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    74,718,074
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,120,771
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    73,597,303
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,679,865
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    3,679,865
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    30,227
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    30,227
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,649,638
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    3,649,638
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    3,649,638
    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
    32,681,240
    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
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    32,681,240
    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
    30,227
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    32,651,013
    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 (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 3,649,638
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:2016, 2015, 2014  
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014...... 18,429,091
    c From 2015...... 23,196,493
    d From 2016...... 33,450,742
    e From 2017...... 28,038,258
    fTotal of lines 3a through e........ 103,114,584
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 32,681,240
    a Applied to 2017, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2018 distributable amount..... 3,649,638
    e Remaining amount distributed out of corpus 29,031,602
    5 Excess distributions carryover applied to 2018.    
    (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 5 132,146,186
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    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......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		43,112,678
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		89,033,508
    10 Analysis of line 9:
    a Excess from 2014.... 4,348,015
    b Excess from 2015.... 23,196,493
    c Excess from 2016.... 33,450,742
    d Excess from 2017.... 28,038,258
    e Excess from 2018.... 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    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 2018, 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) 2018 (b) 2017 (c) 2016 (d) 2015
             
    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 foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    GEORGE R ROBERTS
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    AJC (Wall Street Journal Ad Campaign)
    165 East 56 Street
    New York,NY10022     		NONE PC Ad Campaign 5,000
    American Enterprise Institute
    1150 17TH STREET NW
    WASHINGTON,DC20036     		NONE PC CAPITAL CAMPAIGN AND STRATEGIC COMMUNICATIONS 1,000,000
    Arlington Soap Box Derby
    50 Edgehill Road
    Arlington,MA02474     		NONE PC GENERAL SUPPORT 15,000
    Association to Benefit Children
    1841 PARK AVENUE
    NEW YORK,NY10035     		NONE PC GENERAL SUPPORT 100,000
    Basic Fund
    475 14TH STREET SUITE 520
    OAKLAND,CA94612     		NONE PC GENERAL SUPPORT 125,000
    Boys and Girls Club of the Big Island
    100 Kamakahonu Street
    Hilo,HI96720     		NONE PC GENERAL SUPPORT 325,000
    Child Mind Institute
    445 PARK AVENUE 2ND FLOOR
    NEW YORK,NY10022     		NONE PC 2018 ADVOCACY AWARD DINNER; 2018 FALL LUNCHEON; RESEARCH PROGRAM; 870,195
    Children's Health Council Inc
    650 CLARK WAY
    PALO ALTO,CA94304     		NONE PC GENERAL SUPPORT 60,000
    CHP11-99
    2244 N State College Blvd
    Fullerton,CA92831     		NONE PC Capital Campaign 4,000
    Chronicle Season of Sharing
    901 Mission Street
    San Francisco,CA94103     		NONE PC GENERAL SUPPORT 6,000
    Claremont McKenna College
    500 E NINTH STREET
    CLAREMONT,CA91711     		NONE PC ROBERTS CHALLENGE; ROBERTS PAVILION PLEDGE 10,068,776
    Culver Academies
    1300 ACADEMY ROAD 159
    CULVER,IN46511     		NONE PC Scholarship Endowment; CMA Barracks and Barrack Renovation 3,000,000
    Entitlements How Inc
    2221 South Clark Street
    Arlington,VA22202     		NONE PC Free the Facts Program 250,000
    Family Connections
    PO BOX 358
    SAN CARLOS,CA94070     		NONE PC YOUNG SCHOLARS PROGRAM, NIGHT OF DREAMS, AND PROJECT SANTA 27,500
    Hawaii Island Workforce & Economic Development Oha
    1990 KINOOLE STREET 102
    HILO,HI96720     		NONE PC GENERAL SUPPORT 150,000
    Henry's Fork Foundation
    PO BOX 550
    ASHTON,ID83420     		NONE PC GENERAL SUPPORT 4,000
    Hualalai Ohana Foundation
    PO BOX 5227
    KAILUAKONA,HI96745     		NONE PC GENERAL SUPPORT 5,000
    Intermountain Centers for Human Development
    PO BOX 17749
    TUCSON,AZ85731     		NONE PC WORKABILITY PROGRAM 100,000
    Kukio Community Fund
    65-1279 Kawaihae Road
    Parker Square 203
    Kamuela,HI96743     		NONE PC GENERAL SUPPORT 15,000
    Leland Stanford Junior University
    3145 PORTER DRIVE
    PALO ALTO,CA94304     		NONE PC TOM & STACEY SEIBEL FUND - GOLF PRACTICE CENTER 70,000
    Lucile Packard Foundation for Children's Health
    400 Hamilton Avenue Suite 340
    Palo Alto,CA94301     		NONE PC Mental Health Crisis Team 200,000
    Menlo Charity Horse Show Inc
    190 PARK LANE
    ATHERTON,CA94027     		NONE PC GENERAL SUPPORT 10,000
    New Leaders
    30 WEST 26TH STREET 9TH FLOOR
    NEW YORK,NY10010     		NONE PC General Support; Bay Area; Alfred Nobel Elementary School 1,525,000
    New York University
    25 West Fourth Street 4th Floor
    New York,NY10012     		NONE PC LR Scholarship Fund 56,250
    Northern Arizona University
    PO Box 4094
    Flagstaff,AZ86011     		NONE PC W.A. Franke Scholars Program in COE; President's Fund for Excellence 250,000
    Oakland Public Educational Fund
    PO BOX 27148
    OAKLAND,CA94602     		NONE PC GENERAL SUPPORT 191,500
    Rebuilding Together
    Pier 28 Suite 1
    San Francisco,CA94105     		NONE PC GENERAL SUPPORT 10,000
    REDF
    221 MAIN STREET
    SAN FRANCISCO,CA94105     		NONE PC 2018 Matching Gift; STRATEGIC GROWTH CAMPAIGN PLEDGE 3,500,000
    Room To Read
    465 California Street Suite 1000
    San Francisco,CA94104     		NONE PC GENERAL SUPPORT 25,000
    San Francisco Symphony
    DAVIES SYMPHONY HALL
    201 VAN NESS AVENUE
    SAN FRANCISCO,CA94102     		NONE PC GENERAL SUPPORT 100,000
    Shinnecock Hills Education Fund
    200 Tuckahoe Road
    Southampton,NY11968     		NONE PC GENERAL SUPPORT 5,000
    SAN FRANCISCO MUSEUM OF MODERN ART
    ONE EMBARCADERO CENTER SUITE 1400
    SAN FRANCISCO,CA94111     		NONE PC 2014 Expansion Campaign; 2018 Annual Fund 1,155,000
    San Mateo County History Museum
    2200 BROADWAY STREET
    REDWOOD CITY,CA94063     		NONE PC GENERAL SUPPORT 5,000
    Semper Fi Fund
    825 College Boulevard Suite 102
    Oceanside,CA92057     		NONE PC GENERAL SUPPORT 150,000
    Teach for America
    25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		NONE PC Bay Area; HI; NY; Fall Fling; 2018 Annual Benefit Dinner 2,815,000
    UCSF Center for Prevention of Neuro-Oncology
    535 MISSION BAY BOULEVARD SOUTH
    SAN FRANCISCO,CA94158     		NONE PC Caregiver Program for Brain Cancer 10,000
    University of Chicago
    6054 S DREXEL AVENUE 300
    CHICAGO,IL60637     		NONE PC Booth Women's Initiative 500,000
    University of Notre Dame
    1100 GRACE HALL
    NOTRE DAME,IN46556     		NONE PC Scholarship and Endowment 100,000
    University of Hawaii Foundation
    2444 Dole Street
    Bachman Hall
    Honolulu,HI96822     		NONE PC Elama Project Huiana, HCC Scholarship Partnership 20,000
    Horatio Alger Association
    99 Canal Center Plaza
    Suite 320
    Alexandria,VA22314     		NONE PC GENERAL SUPPORT 100,000
    The Opportunity Network
    85 Broad Street
    6th Floor
    New York,NY10004     		NONE PC GENERAL SUPPORT 10,000
    Valparaiso University
    1100 Campus Drive South
    Valparaiso,IN46383     		NONE PC Conrad Scholars Program 162,500
    Curriki
    20660 Stevens Creek Blvd
    332
    Cupertino,CA95014     		NONE PC GENERAL SUPPORT 10,000
    Dunn School
    2555 CA-154
    Los Olivos,CA93441     		NONE PC Leading Matters; General Support 900,000
    Innovate Public Schools
    1485 Bayshore Blvd
    Ste 438
    San Francisco,CA94124     		NONE PC General Support 100,000
    Menlo Park
    PO Box 584
    Menlo Park,CA94026     		NONE PC ATHERTON EDUCATION FOUNDATION; General Support 4,000
    Sacred Heart Schools
    150 Valparaiso Avenue
    Atherton,CA94027     		NONE PC Financial Aid 400,000
    SIFMA Foundation
    120 Broadway
    35th Floor
    New York,NY10271     		NONE PC GENERAL SUPPORT 10,000
    Summer Search
    3680 Jackson Street
    San Francisco,CA94118     		NONE PC GENERAL SUPPORT 25,000
    The Opportunity Trust
    4660 Maryland Avenue
    Suite 260
    St Louis,MO63108     		NONE PC GENERAL SUPPORT 125,000
    Hawaii Island Humane Society
    74-5225 Queen Kaahumanu Highway
    KailuaKona,HI96740     		NONE PC GENERAL SUPPORT 500
    Humane Society of Truckee-Tahoe
    10961 Stevens Lane
    Truckee,CA96161     		NONE PC GENERAL SUPPORT 500
    Monterey County SPCA
    PO Box 3058
    Monterey,CA93942     		NONE PC GENERAL SUPPORT 2,017
    San Francisco Opera
    301 Van Neww Ave
    San Francisco,CA94102     		NONE PC GENERAL SUPPORT 25,000
    African-American Community Service Agency
    304 N 6th Street
    San Jose,CA95112     		NONE PC GENERAL SUPPORT 100,000
    Boys and Girls Club of the Peninsula
    401 Pierce Road
    Menlo Park,CA94025     		NONE PC GENERAL SUPPORT 1,024,800
    San Mateo County Community Colleges Foundation
    340 CSM Drive
    San Mateo,CA94402     		NONE PC Canada College Women's Soccer 1,500
    Changing the Streets Hands and Paws Together
    PO Box 191113
    Sacramento,CA95819     		NONE PC GENERAL SUPPORT 1,000
    Girl Scouts of Greater New York
    40 Wall Street
    Suite 708
    New York,NY10005     		NONE PC GENERAL SUPPORT 25,000
    Greater Seattle Surf Soccer Club
    12728 NE 178th Street
    Suite 101
    Woodinville,WA98072     		NONE PC GENERAL SUPPORT 5,000
    Hamakua Athletic Association
    PO Box 2804
    Kamuela,HI96743     		NONE PC General Support 2,000
    Jewish Community Federation
    800 Foster City Blvd
    Foster City,CA94404     		NONE PC GENERAL SUPPORT 500
    Juma Ventures
    131 Steuart St 201
    San Francisco,CA94105     		NONE PC General Support 25,000
    North Hawaii Community Hospital
    1301 Punchbowl Street
    Honolulu,HI96813     		NONE PC Emergency Room Expansion and Renovation Project 400,000
    Notah Begay III Foundation
    290 Prairie Star Rd
    Santa Ana Pueblo,NM87004     		NONE PC General Support 100,000
    San Francisco Host Committee
    325 Sharon Park Dr
    Ste 308
    Menlo Park,CA94025     		NONE PC General Support 2,500
    West Side Eagles
    2307 Kailua Kona
    KailuaKona,HI96745     		NONE PC General Support 7,500
    Team Rubicon
    6171 West Century Blvd
    Suite 310
    Los Angeles,CA90045     		NONE PC General Support 10,000
    Kohanaiki Ohana
    PO Box 4753
    Kailua Kona,HI96745     		NONE PC General Support 4,500
    SF Marin Food Bank
    900 Pennsylvania Ave
    San Francisco,CA94107     		NONE PC General Support 5,000
    Hospice by the Bay
    180 Redwood Street
    Suite 350
    San Francisco,CA94102     		NONE PC General Support 2,500
    Northside Center for Childhood
    1301 Fifth Avenue
    New York,NY10029     		NONE PC General Support 10,000
    Peer Health Exchange
    70 Gold Street
    San Francisco,CA94133     		NONE PC General Support 150,000
    Travis Roy Foundation
    101 Huntington Avenue
    Suite 520
    Boston,MA02199     		NONE PC General Support 7,500
    Year Up Bay Area
    45 Milk Street
    9th Floor
    Boston,MA02109     		NONE PC General Support 2,000,000
    Paws For Purple Hearts
    10201 Old Redwood Hwy
    Penngrove,CA94951     		NONE PC General Support 1,000
    EPATT (East Palo Alto Tennis and Tutoring)
    PO Box 60597
    Palo Alto,CA94306     		NONE PC General Support 3,000
    NCGA Foundation
    3200 Lopez Road
    Pebble Beach,CA93953     		NONE PC General Support 500
    Northern California PGA Foundation
    411 Devis Street
    Suite 103
    Vacaville,CA95688     		NONE PC The Langley 25,000
    Total .................................bullet 3a 32,616,538
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2018)
    Form 990-PF (2018)
    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 ...........     		    14 284,356  
    4 Dividends and interest from securities....     14 1,215,474  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		900099 12,405 18 1,736,332  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aAURORA (EDCOLLEGE)     		    14 -12,346  
    bKKR GROUP INVESTMENTS II (NEW VERNON INDIA FD) 900099 10,181 14 -13,208  
    cKKR & CO LP 900099 -506 14 -1,049  
    dKKR ASSOCIATES RESERVE LLC     14 37,836  
    eEVERGREEN DESTINATION HLDGS LLC 900099 101,376 14 -498  
    fHOUSATONIC EQUITY INVESTORS II     14 -45  
    gHOUSATONIC EQUITY PARTNERS     14 -548  
    hRUSH CREEK LODGE 900099 -11,920 14 -3,850  
    iVALUE PARTNERS LTD     14 -2,965  
    12 Subtotal. Add columns (b), (d), and (e).. 111,536 3,239,489  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    3,351,025
    (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 (2018)
    Form 990-PF (2018)
    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) (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) (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 (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2018
    Name of the organization
    The Roberts Foundation
     
    Employer identification number

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






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    The Roberts Foundation
          		Employer identification number
    94-2967074
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    George R Roberts  
    2800 Sand Hill Road Suite 200
     
    MENLO PARK, CA94025

    		$ 25,488,678


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    The George R Roberts 2018 LP  
    2800 Sand Hill Road Suite 200
     
    Menlo Park, CA94025

    		$ 17,624,000


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

    		$  


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

    		$  


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

    		$  


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

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    The Roberts Foundation
          		Employer identification number

    94-2967074
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 10,835 SHS of ShotSpotter Inc. $ 174,931 2018-01-22
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 2,141 SHS of Coupa Software Inc. $ 102,243 2018-03-20
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 1,070 SHS of Coupa Software Inc. $ 67,870 2018-06-21
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 1,070 SHS of Coupa Software Inc. $ 76,125 2018-09-04
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 875 SHS of Alteryx Inc. $ 51,590 2018-09-04
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 405 SHS of DocuSign Inc. $ 15,919 2018-11-16
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Name of organization
    The Roberts Foundation
          		Employer identification number

    94-2967074
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    2
    		 800,000 SHS of KKR & Co Inc. $ 17,624,000 2018-11-16
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    The Roberts Foundation
          		Employer identification number

    94-2967074
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)

    Additional Data


    Software ID:  
    Software Version:  

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    TY 2018 DepreciationSchedule
    Name:
    The Roberts Foundation
    EIN:
    94-2967074
    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

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    The Roberts Foundation
    EIN:
    94-2967074
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ENSEMBLE CAPITAL-CURTIS BROWN 5,144,423 5,588,476
    IVANPLATS LTD (69,975 SHS) 21,860 120,357
    PROCTOR & GAMBLE (215,077 SHS) 5,381,207 19,769,878
    UBS #8140 (SEE ATTACHED) 20,004,267 19,502,291
    KKR & CO. (800,000 SHS) 17,624,000 15,704,000

    TY 2018 InvestmentsOtherSchedule2
    Name:
    The Roberts Foundation
    EIN:
    94-2967074
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    AURORA INVESTMENTS LLC AT COST 410,436 765,468
    KKR GROUP INVESTMENTS LLC AT COST 1,480,027 2,049,520
    KKR & CO. AT COST 0 0
    KKR ASSOCIATES AT COST 12,856,529 3,441,763
    OTHER INVESTMENTS AT COST 489,610 3,691,400

    TY 2018 LoansFromOfficersSchedule
    Name:
    The Roberts Foundation
    EIN:
    94-2967074

    Item No. 1
    Lender's Name GEORGE R ROBERTS PRESIDENT
    Lender's Title  
    Original Amount of Loan 2000000
    Balance Due 0
    Date of Note 2017-12
    Maturity Date 2018-01
    Repayment Terms PAYABLE AT MATURITY
    Interest Rate 0.
    Security Provided by Borrower NONE
    Purpose of Loan SHORT-TERM CASH NEEDS
    Description of Lender Consideration  
    Consideration FMV  


    TY 2018 OtherAssetsSchedule
    Name:
    The Roberts Foundation
    EIN:
    94-2967074
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PROMISSORY NOTE 2,115,799 2,030,375 2,030,375


    TY 2018 OtherDecreasesSchedule
    Name:
    The Roberts Foundation
    EIN:
    94-2967074
    Description Amount
    BOOK/TAX DIFF FOR BASIS OF STOCK SOLD 397,399
    PRIOR PERIOD ADJUSTMENT 5,094


    TY 2018 OtherExpensesSchedule
    Name:
    The Roberts Foundation
    EIN:
    94-2967074
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 15,316     15,316
    MISCELLANEOUS 13,726 6,863   6,863


    TY 2018 OtherIncomeSchedule2
    Name:
    The Roberts Foundation
    EIN:
    94-2967074
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    AURORA (EDCOLLEGE) -12,346 -12,346  
    KKR GROUP INVESTMENTS II - NEW VERNON FD -3,027 -13,208  
    KKR & CO LP -1,555 -1,049  
    KKR ASSOCIATES RESERVE LLC 37,836 37,836  
    EVERGREEN DESINATION HLDGS LLC 100,878 -498  
    HOUSATONIC EQUITY INVESTORS II -45 -45  
    HOUSATONIC EQUITY PARTNERS -548 -548  
    RUSH CREEK LODGE -15,770 -3,850  
    VALUE PARTNERS LTD -2,965 -2,965  


    TY 2018 OtherIncreasesSchedule
    Name:
    The Roberts Foundation
    EIN:
    94-2967074
    Description Amount
    BOOK/TAX DIFF FOR FTC 6,132


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    The Roberts Foundation
    EIN:
    94-2967074
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGER/BANK FEES 161,204 161,204    
    PROFESSIONAL FEES 85,026 42,513   42,513


    TY 2018 TaxesSchedule
    Name:
    The Roberts Foundation
    EIN:
    94-2967074
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE 10     10
    FOREIGN 6,174 6,174