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
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 07-01-2020 , and ending 06-30-2021
Name of foundation
TOWBES FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)33 E CARRILLO STREET NO 201
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SANTA BARBARA, CA93101
A Employer identification number

95-3519577
B Telephone number (see instructions)

(805) 690-4603
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$12,135,838J 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) 4,721,431
2 Check bullet.............
3 Interest on savings and temporary cash investments 9,972 9,972  
4 Dividends and interest from securities... 109,630 109,630  
5a Gross rents............ 4,087,920 4,087,920  
b Net rental income or (loss) 1,136,619
6a Net gain or (loss) from sale of assets not on line 10 -1,529,245
b Gross sales price for all assets on line 6a 4,584,458
7 Capital gain net income (from Part IV, line 2)... 0
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).......      
12 Total. Add lines 1 through 11........ 7,399,708 4,207,522 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 150,528 0 0 150,528
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 33,316 0 0 33,316
16a Legal fees (attach schedule)......... Click to see attachment 41,833 0 0 41,833
b Accounting fees (attach schedule)....... Click to see attachment 26,073 0 0 26,073
c Other professional fees (attach schedule).... Click to see attachment 7,200 0 0 7,200
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 97,160 0 0 11,098
19 Depreciation (attach schedule) and depletion... Click to see attachment 18,360 0 0
20 Occupancy.............. 60,108 0 0 60,108
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 3,025,970 2,983,357 0 42,613
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,460,548 2,983,357 0 372,769
25 Contributions, gifts, grants paid....... 1,208,205 1,208,205
26 Total expenses and disbursements. Add lines 24 and 25 4,668,753 2,983,357 0 1,580,974
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,730,955
b Net investment income (if negative, enter -0-) 1,224,165
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
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......... 2,487,309 530,292 530,292
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 bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 4,003,338 Click to see attachment10,581,737 11,541,706
14 Land, buildings, and equipment: basis bullet87,362
Less: accumulated depreciation (attach schedule) bullet23,522 82,200 Click to see attachment63,840 63,840
15 Other assets (describe bullet) Click to see attachment906,941 Click to see attachment0 Click to see attachment0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 7,479,788 11,175,869 12,135,838
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 attachment0 Click to see attachment965,126
23 Total liabilities (add lines 17 through 22)......... 0 965,126
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 7,479,788 10,210,743
29 Total net assets or fund balances (see instructions)..... 7,479,788 10,210,743
30 Total liabilities and net assets/fund balances (see instructions). 7,479,788 11,175,869
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
7,479,788
2
Enter amount from Part I, line 27a .....................
2
2,730,955
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
10,210,743
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 29 .
6
10,210,743
Form 990-PF (2020)
Form 990-PF (2020)
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 SALE OF PARTNERSHIP INTEREST: EAST CARRILLO LP D 2017-04-14 2020-12-31
b JP MORGAN CAPITAL GAIN DISTRIBUTIONS P 2020-07-01 2020-12-11
c INVESCO QQQ TRUST SERIES 1 P 2020-07-01 2020-11-24
d ISHARES TRUST ISHARES ESG AWA RE P 2020-08-31 2020-09-23
e ISHARES ESG AWARE US AGGREGATE P 2020-07-15 2020-09-15
ISHARES ESG AWARE US AGGREGATE P 2020-07-15 2020-09-29
DOUBLE TTL RTRN BND-R6 P 2021-01-01 2021-05-11
ISHARES INC ISHARES ESG AWA RE MSCI P 2021-02-11 2021-05-11
ISHARES INC ISHARES ESG AWA RE MSCI P 2021-01-01 2021-06-24
ISHARES ESG AWARE US AGGREGATE P 2020-07-15 2021-04-12
PIMCO TOTAL RETURN ESG-INST P 2020-08-31 2021-04-12
TIAA-CREF CORE IMPCT BD-INST P 2002-08-31 2021-04-12
(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 3,870,000   5,411,440 -1,541,440
b 22,542     22,542
c 40,018   39,504 514
d 39,739   39,771 -32
e 36,771   36,771 0
41,063   41,063 0
81,202   82,827 -1,625
56,231   60,822 -4,591
116,329   119,270 -2,941
112,157   113,829 -1,672
84,203   84,203 0
84,203   84,203 0
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -1,541,440
b       22,542
c       514
d       -32
e       0
      0
      -1,625
      -4,591
      -2,941
      -1,672
      0
      0
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -1,529,245
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
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 for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 17,016
c All other domestic foundations enter 1.39% 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 17,016
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 17,016
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 55,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 55,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 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 37,976
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet37,976 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 the instructions
for the 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
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
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 2020 or the taxable year beginning in 2020? 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 (2020)
    Form 990-PF (2020)
    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 ofbulletTOWBES FOUNDATION Telephone no.bullet (805) 690-4603

    Located atbulletPO BOX 20130SANTA BARBARACA ZIP+4bullet93120
    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 2020, 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
     
    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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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 2020 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 2020.)..................
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    SHERIDAH GERARD SECRETARY
    1.00     		2,250 0 0
    PO BOX 20130
    SANTA BARBARA,CA93120
    LYNN C TOWBES PRESIDENT
    10.00     		2,250 0 0
    PO BOX 20130
    SANTA BARBARA,CA93120
    ROBERT L SKINNER VICE PRESIDENT
    2.00     		2,250 0 0
    PO BOX 20130
    SANTA BARBARA,CA93120
    PATRICIA MACFARLANE TREASURER
    10.00     		0 0 0
    PO BOX 20130
    SANTA BARBARA,CA93120
    KRISTEN SULLIVAN PHD EXECUTIVE DIRECTOR
    40.00     		140,778 33,316 0
    PO BOX 20130
    SANTA BARBARA,CA93120
    VIRGINIA SALAZAR DIRECTOR
    1.00     		1,500 0 0
    PO BOX 20130
    SANTA BARBARA,CA93120
    ALLISON LEWIS-TOWBES DIRECTOR
    1.00     		1,500 0 0
    PO BOX 20130
    SANTA BARBARA,CA93120
    RON WERFT DIRECTOR
    1.00     		0 0 0
    PO BOX 20130
    SANTA BARBARA,CA93120
    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
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    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 (2020)
    Form 990-PF (2020)
    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
    6,185,615
    b
    Average of monthly cash balances.......................
    1b
    3,248,401
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    9,434,016
    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
    9,434,016
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    141,510
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    9,292,506
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    464,625
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    464,625
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    17,016
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    17,016
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    447,609
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    447,609
    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
    447,609
    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
    1,580,974
    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
    1,580,974
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,580,974
    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 (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 447,609
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 927,379
    b From 2016...... 942,990
    c From 2017...... 2,160,734
    d From 2018...... 2,272,062
    e From 2019...... 2,094,164
    fTotal of lines 3a through e........ 8,397,329
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 1,580,974
    a Applied to 2019, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 447,609
    e Remaining amount distributed out of corpus 1,133,365
    5 Excess distributions carryover applied to 2020. 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 9,530,694
    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 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		927,379
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		8,603,315
    10 Analysis of line 9:
    a Excess from 2016.... 942,990
    b Excess from 2017.... 2,160,734
    c Excess from 2018.... 2,272,062
    d Excess from 2019.... 2,094,164
    e Excess from 2020.... 1,133,365
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 2020, 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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).)
    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:
    THE TOWBES FOUNDATION
    33 E CARRILLO STREET SUITE 201
    SANTA BARBARA,CA93101
    (805) 690-4603
    bThe form in which applications should be submitted and information and materials they should include:
    EDUCATION AND/OR MENTAL HEALTH GRANT REQUESTS: ALL THREE GRANT CYCLES ARE OPEN TO EDUCATIONAL AND/OR MENTAL HEALTH-MISSIONED NONPROFIT ORGANIZATIONS AS DESCRIBED WITHIN THE FOUNDATION'S PRIORITY AREAS. ORGANIZATIONS SHOULD APPLY TO THE SAME GRANT CYCLE EACH YEAR UNLESS OTHERWISE COMMUNICATED OR REQUESTED. GRANTS ARE NOT MADE TO INDIVIDUALS OR INDEPENDENT SCHOOLS. GRANTS TO PUBLIC SCHOOL PROGRAMS ARE ON A CASE-BY-CASE BASIS AND ARE LIMITED TO ONE PER SCHOOL, PER FISCAL YEAR. GRANTS ARE NO LONGER MADE TO THE SANTA BARBARA HIGH SCHOOL ACADEMIES. ORGANIZATIONS WILL NEED TO SUBMIT A COMPLETED ONLINE GRANT APPLICATION UNLESS OTHERWISE COMMUNICATED OR REQUESTED. INTERVIEWS, SITE VISITS, AND/OR ADDITIONAL OUTCOMES/DATA MAY BE REQUESTED TO FURTHER GUIDE DECISION-MAKING PRIOR TO MAKING FUNDING DECISIONS. GRANT AWARDS WILL RANGE FROM $1,000-$25,000 WITH THE MAJORITY OF AWARDS WITHIN THE $5,000-$10,000 RANGE. ONLY ONE GRANT WILL BE AWARDED PER ORGANIZATION PER FISCAL YEAR (JULY 1- JUNE 30).
    cAny submission deadlines:
    APPLICATIONS SUBMITTED BY DEC. 31, APR. 30 OR AUG. 31 ARE REVIEWED AT A SUBSEQUENT BOARD MEETING.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    GRANT FUNDING FROM THE MICHAEL TOWBES DONOR ADVISED FUND, THE LEWIS-TOWBES FAMILY DONOR ADVISED FUND, OR THE TOWBES FUND FOR THE PERFORMING ARTS WILL PRECLUDE ANY FUNDING FROM THE TOWBES FOUNDATION, AND EXCEPT IN RARE CASES, BY INVITATION ONLY, ANY FUNDING FROM THE TOWBES FOUNDATION WILL PRECLUDE FUNDING FROM THESE OTHER TOWBES-FAMILY FUNDING SOURCES.
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    AHA ATTITUDE HARMONY ACHIEVEMENT
    1209 DE LA VINA STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 12,500
    ALEXANDER HOUSE FOUNDATION
    PO BOX 23642
    SANTA BARBARA,CA93121     		  PC UNRESTRICTED GRANT 10,000
    ALLAN HANCOCK COLLEGE FOUNDATION
    800 SOUTH COLLEGE DRIVE
    SANTA MARIA,CA93454     		  PC UNRESTRICTED GRANT 7,500
    CASA PACIFICA CENTERS FOR CHILDREN & FAMILIES
    1722 S LEWIS ROAD
    CAMARILLO,CA93012     		  PC SUPPORT THE SAFTY PROGRAM SERVING SANTA BARBARA COUNTY 5,000
    CASA SERENA INC
    1515 BATH STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 15,000
    CHANNEL ISLANDS YMCA
    105 EAST CARRILLO STREET
    SANTA BARBARA,CA93101     		  PC LOMPOC FAMILY YMCA - $7,500 AND NOAH'S ANCHORAGE - $7,500 15,000
    CHILD ABUSE LISTENING MEDIATION
    1236 CHAPALA STREET
    SANTA BARBARA,CA93101     		  PC MENTAL HEALTH CONSULTATION MODEL IN SANTA BARBARA UNIFIED SCHOOL DISTRICT - $190,000 ANDUNRESTRICTED GRANT- $10,000 200,000
    COMMUNIFY
    5638 HOLLISTER AVENUE 230
    GOLETA,CA93117     		  PC UNRESTRICTED GRANT 7,500
    COMMUNITY ENVIRONMENTAL COUNCIL
    26 W ANAPAMU ST
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 10,000
    COMMUNITY HEALTH CENTERS OF THE CENTRAL COAST INC
    2050 SOUTH BLOSSER ROAD
    SANTA MARIA,CA93458     		  PC SUPPORT THE LATINX & INDIGENOUS MIGRANT COVID 19 RESPONSE TASK FORCE 12,500
    COMMUNITY PARTNERS FOR YOUTHWELL
    PO BOX 741265
    LOS ANGELES,CA90074     		  PC UNRESTRICTED GRANT 7,500
    CUYAMA VALLEY FAMILY RESOURCE CENTER
    PO BOX 5
    NEW CUYAMA,CA93254     		  PC UNRESTRICTED GRANT 13,250
    DOMESTIC VIOLENCE SOLUTIONS FOR SANTA BARBARA COUNTY
    411 E CANON PERDIDO STREET SUITE 12
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 15,000
    EXPLORE ECOLOGY
    302 E COTA STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 5,000
    FAMILY SERVICE AGENCY OF SANTA BARBARA
    123 W GUTIERREZ STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 20,000
    FOOD FROM THE HEART
    PO BOX 3908
    SANTA BARBARA,CA93130     		  PC UNRESTRICTED GRANT 12,500
    FOODBANK OF SANTA BARBARA
    1525 STATE STREET SUITE 100
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 25,000
    FOUNDATION FOR SBCC
    721 CLIFF DRIVE
    SANTA BARBARA,CA93108     		  PC RUNNING START PROGRAM OR SUMMER BRIDGE PROGRAM 12,500
    FRIENDSHIP CENTER ADULT DAY CARE CENTER
    89 EUCALYPTUS LANE
    SANTA BARBARA,CA93108     		  PC UNRESTRICTED GRANT 10,000
    FUTURE LEADERS OF AMERICA
    126 EAST HALEY ST 12
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 10,000
    GOLETA EDUCATION FOUNDATION
    PO BOX 1177
    GOLETA,CA93116     		  PC UNRESTRICTED GRANT FOR THE COVID RELIEF FUND 2,500
    HABITAT FOR HUMANITY OF SOUTHERN SANTA BARBARA COUNTY
    PO BOX 176
    GOLETA,CA93116     		  PC UNRESTRICTED GRANT 5,000
    HILLSIDE HOUSE
    1235 VERONICA SPRINGS ROAD
    SANTA BARBARA,CA93105     		  PC UNRESTRICTED GRANT 12,500
    HOSPICE OF SANTA BARBARA INC
    2050 ALAMEDA PADRE SERRA SUITE 100
    SANTA BARBARA,CA93103     		  PC UNRESTRICTED GRANT 10,000
    INTERFAITH INITIATIVE OF SANTA BARBARA - SHOWERS OF BLESSINGS
    1000 SAN ANTONIO CREEK ROAD
    SANTA BARBARA,CA93111     		  PC UNRESTRICTED GRANT 10,000
    ISLA VISTA YOUTH PROJECTS INC
    PO BOX 1332
    GOLETA,CA93116     		  PC UNRESTRICTED GRANT 15,000
    JEWISH FEDERATION OF GREATER SANTA BARBARA
    524 CHAPALA STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 5,000
    JODI HOUSE
    625 CHAPALA STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 10,000
    JUST COMMUNITIES CENTRAL COAST
    1528 CHAPALA STREET SUITE 308
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 7,500
    LEGAL AID FOUNDATION OF SB COUNTY
    301 EAST CANON PERDIDO STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 5,000
    NATURETRACK FOUNDATION INC - NATURE TRACK FOUNDATION
    PO BOX 953
    LOS OLIVOS,CA93441     		  PC UNRESTRICTED GRANT 5,000
    NEW BEGINNINGS COUNSELING CENTER
    324 E CARRILLO STREET C
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 20,000
    NEW HOUSE SANTA BARBARA
    2434 BATH STREET
    SANTA BARBARA,CA93105     		  PC UNRESTRICTED GRANT 12,500
    NORTHERN SB COUNTY UNITED WAY
    PO BOX 947
    SANTA MARIA,CA93456     		  PC UNRESTRICTED GRANT 10,000
    ORGANIC SOUP KITCHEN
    315 MEIGS ROAD SUITE A369
    SANTA BARBARA,CA93109     		  PC UNRESTRICTED GRANT 15,000
    PACIFIC PRIDE FOUNDATION
    608 ANACAPA STREET SUITE A
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 15,000
    PARTNERS IN HOUSING SOLUTIONS
    701 ANACAPA STREET SUITE C
    SANTA BARBARA,CA90004     		  PC UNRESTRICTED GRANT 15,000
    PATH - PEOPLE ASSISTING THE HOMELESS
    340 N MADISON AVENUE
    LOS ANGELES,CA90004     		  PC UNRESTRICTED GRANT 15,000
    PATHPOINT
    315 W HALEY STREET SUITE 102
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 10,000
    PEOPLES SELF HELP HOUSING CORP
    3533 EMPLEO STREET
    SAN LUIS OBISPO,CA93401     		  PC UNRESTRICTED GRANT 10,000
    SAN MARCOS HIGH SCHOOL ROYAL PRIDE FOUNDATION
    4750 HOLLISTER AVENUE
    SANTA BARBARA,CA93110     		  PC UNRESTRICTED GRANT 6,250
    SANCTUARY CENTERS OF SANTA BARBARA INC
    PO BOX 551
    SANTA BARBARA,CA93102     		  PC UNRESTRICTED GRANT 10,000
    SANTA BARBARA ALTERNATIVES TO VIOLENCE PROJECT
    PO BOX 3294
    SANTA BARBARA,CA93130     		  PC UNRESTRICTED GRANT 5,000
    SANTA BARBARA COTTAGE HOSPITAL FOUNDATION
    PO BOX 689
    SANTA BARBARA,CA93102     		  PC CHILDREN'S MIRACLE NETWORK 2,500
    SANTA BARBARA COUNTY EDUCATION OFFICE
    PO BOX 6307
    SANTA BARBARA,CA93160     		  PC UNRESTRICTED GRANT 4,000
    SANTA BARBARA EDUCATION FOUNDATION
    1330 STATE STREET SUITE 201
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 30,000
    SANTA BARBARA FAMILY CARE CENTER INC
    124 W CARMEN LANE SUITE C
    SANTA MARIA,CA93458     		  PC UNRESTRICTED GRANT 7,500
    SANTA BARBARA FOUNDATION
    1111 CHAPALA STREET SUITE 200
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 1,000
    SANTA BARBARA HIGH SCHOOL COMPUTER SCIENCE ACADEMY FOUNDATION
    PO BOX 60354
    SANTA BARBARA,CA93160     		  PC UNRESTRICTED GRANT 5,000
    SANTA BARBARA INTERNATIONAL FILM FESTIVAL
    1528 CHAPALA STREET SUITE 203
    SANTA BARBARA,CA93101     		  PC GRANT FOR EDUCATIONAL PURPOSES 15,000
    SANTA BARBARA PARTNERS IN EDUCATION
    3970 LA COLINA ROAD SUITE 9
    SANTA BARBARA,CA93110     		  PC UNRESTRICTED GRANT 5,000
    SANTA BARBARA RESPONSE NETWORK
    115 W CANON PERDIDO
    SANTA BARBARA,CA93101     		  PC SUPPORT THE MIXTECO INTERPRETERS FOR THE COMPASSION CENTER LIVES AND PSYCHOLOGICAL FIRST AID TRAININGS 7,500
    SANTA BARBARA SCHOOL OF SQUASH
    1530 CHAPALA STREET SUITE F
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 8,250
    SANTA BARBARA SCOTTISH RITE CENTER FOR CHILDHOOD LANGUAGE DISORDERS
    16 E CARRILLO STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 10,000
    SANTA YNEZ VALLEY FRUIT & VEGETABLE RESCUE
    PO BOX 1651
    SANTA YNEZ,CA93460     		  PC UNRESTRICTED GRANT 12,000
    SANTA YNEZ VALLEY PEOPLE HELPING PEOPLE
    545 ALISAL ROAD SUITE 102
    SOLVANG,CA93463     		  PC UNRESTRICTED GRANT 10,000
    SANTA YNEZ VALLEY SENIOR ADVISORY COUNCIL
    1745 MISSION DRIVE
    SOLVANG,CA93463     		  PC UNRESTRICTED GRANT 11,250
    SANTA YNEZ VALLEY SENIOR CITIZENS FOUNDATION DBA BUELLTON SENIOR CENTER
    PO BOX 1946
    BUELLTON,CA93427     		  PC UNRESTRICTED GRANT 8,000
    SARAH HOUSE SANTA BARBARA
    PO BOX 20031
    SANTA BARBARA,CA93120     		  PC UNRESTRICTED GRANT 15,000
    SCHOLARSHIP FOUNDATION OF SANTA BARBARA
    PO BOX 3620
    SANTA BARBARA,CA93130     		  PC ALLOCATION OF $34,000 TO SCHOLARSHIPS AND $6,000 TO UNRESTRICTED FUNDING AND $750 UNRESTRICTED GRANT 40,750
    SOCIAL GOOD FUND - LOYALTEACH
    PO BOX 412
    LOS OLIVOS,CA93441     		  PC UNRESTRICTED GRANT 4,750
    ST VINCENT'S SANTA BARBARA
    4200 CALLE REAL
    SANTA BARBARA,CA93110     		  PC UNRESTRICTED GRANT 15,000
    STANDING TOGETHER TO END SEXUAL ASSAULT
    433 E CANON PERDIDO STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 10,000
    STORYTELLER CHILDREN'S CENTER
    2115 STATE STREET
    SANTA BARBARA,CA93105     		  PC UNRESTRICTED GRANT 20,000
    TEACHER'S FUND CO VILLAGE PROPERTIES
    1250 COAST VILLAGE ROAD
    SANTA BARBARA,CA93108     		  PC UNRESTRICTED GRANT 6,000
    THE FUND FOR SANTA BARBARA - NON PROFIT RESOURCE NETWORK
    26 WEST ANAPAMU STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 6,000
    THE REGENTS OF UNIVERSITY OF CALIFORNIA - EARLY ACADEMIC OUTREACH PROGRAM
    UNIVERSITY OF CALIFORNIA
    SANTA BARBARA,CA93106     		  PC UNRESTRICTED GRANT 15,000
    THE TURNER FOUNDATION
    PO BOX 186
    SANTA BARBARA,CA93102     		  PC UNRESTRICTED GRANT 6,500
    TRANSITION HOUSE
    425 E COTA STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 25,000
    UC SANTA BARBARA FOUNDATION
    UNIVERSITY OF CALIFORNIA
    SANTA BARBARA,CA93106     		  PC UNRESTRICTED GRANT 500
    UCSB FOUNDATION - MCENROE READING & LANGUAGE ARTS CLINIC
    GIVERTZ SCHOOL
    SANTA BARBARA,CA93106     		  PC UNRESTRICTED GRANT 6,250
    UNITARIAN SOCIETY OF SANTA BARBARA
    1535 SANTA BARBARA STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 10,000
    UNITED BOYS & GIRLS CLUBS OF SANTA BARBARA COUNTY
    PO BOX 1485
    SANTA BARBARA,CA93102     		  PC SUPPORT THE CAMP WHITTIER PROGRAM 10,000
    UNITED WAY OF SANTA BARBARA COUNTY
    320 E GUTIERREZ STREET
    SANTA BARBARA,CA93101     		  PC SUPPORT LEARNING AND ENRICHMENT CENTERS - GIRLS INC. CARPINTERIA: $12,960SUPPORT LEARNING AND ENRICHMENT CENTERS - UNITED BOYS AND GIRLS CLUB: $20,400SUPPORT LEARNING AND ENRICHMENT CENTERS - GIRLS INC. SANTA BARBARA: $11,695SUPPORT LEARNING AND ENRICHMENT CENTERS - SB POLICE ACTIVITIES LEAGUE: $10,500SUPPORT BOYS AND GIRLS CLUB OF MID CENTRAL COAST IN SUPPORT OF THE LEARNING AND ENRICHMENT CENTER COLLABORATION: $20,400SUPPORT LEARNING AND ENRICHMENT CENTER COLLABORATION: $20,000SUPPORT THE VACCINATION EQUITY PROJECT: $25,000SUPPORT THE FUN IN THE SUN PROGRAM: $20,000UNRESTRICTED GRANT: $20,000 160,955
    UNITY SHOPPE INC
    1209 STATE STREET
    SANTA BARBARA,CA93101     		  PC UNRESTRICTED GRANT 7,500
    VENTURA COUNTY COMMUNITY FOUNDATION
    4001 MISSION OAKS BOULEVARD SUITE A
    CAMARILLO,CA93012     		  PC SUPPORT THE 805UNDOCUFUND 10,000
    VISITING NURSE & HOSPICE CARE OF SANTA BARBARA
    509 EAST MONTECITO STREET SUITE 200
    SANTA BARBARA,CA93103     		  PC UNRESTRICTED GRANT 15,000
    WILDERNESS YOUTH PROJECT
    5386 HOLLISTER AVENUE SUITE D
    SANTA BARBARA,CA93111     		  PC UNRESTRICTED GRANT 10,000
    WOMEN'S ECONOMIC VENTURES
    333 S SALINAS STREET
    SANTA BARBARA,CA93103     		  PC GENERAL OPERATING SUPPORT 15,000
    YOUTH INNOVATION CLUB
    505 HIGH GROVE AVENUE
    GOLETA,CA93117     		  PC UNRESTRICTED GRANT 5,000
    Total .................................bullet 3a 1,208,205
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 9,972  
    4 Dividends and interest from securities....     14 109,630  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 1,136,619  
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 -1,529,245  
    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).. 0 -273,024 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    -273,024
    (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 (2020)
    Form 990-PF (2020)
    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 instructions.
    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 (2020)
    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
    2020
    Name of the organization
    TOWBES FOUNDATION
     
    Employer identification number

    95-3519577
    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) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    TOWBES FOUNDATION
          		Employer identification number
    95-3519577
    Part I
    Contributors
    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
    TOWBES 2002 TRUST
     
    PO BOX 20130
     
    SANTA BARBARA, CA93120

    		$ 4,721,431


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

    		$  


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

    		$  


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

    		$  


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

    		$  


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

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    Name of organization
    TOWBES FOUNDATION
          		Employer identification number

    95-3519577
    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
    		 95% INTEREST IN EAST CARRILLO, LP (EIN - 95-3434682) $ 4,721,431 2020-12-31
    (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) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    TOWBES FOUNDATION
          		Employer identification number

    95-3519577
    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) (2020)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2020 AccountingFeesSchedule
    Name:
    TOWBES FOUNDATION
    EIN:
    95-3519577
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 26,073 0 0 26,073

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

    TY 2020 DepreciationSchedule
    Name:
    TOWBES FOUNDATION
    EIN:
    95-3519577
    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
    LEASEHOLD IMPROVEMENTS - JOB 40-025-2050 2019-12-26 31,979 630 SL 27.500000000000 1,165 0 0  
    FURNITURE 2020-01-08 30,855 3,306 200DB 7.000000000000 7,872 0 0  
    AUDIO VIDEO SYSTEM - JENSEN AUDIO 2020-06-01 24,528 1,226 200DB 5.000000000000 9,323 0 0  

    TY 2020 InvestmentsOtherSchedule2
    Name:
    TOWBES FOUNDATION
    EIN:
    95-3519577
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    JP MORGAN AT COST 10,581,737 11,541,706

    TY 2020 LandEtcSchedule2
    Name:
    TOWBES FOUNDATION
    EIN:
    95-3519577
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    LEASEHOLD IMPROVEMENTS - JOB 40-025-2050 31,979 1,795 30,184  
    FURNITURE 30,855 11,178 19,677  
    AUDIO VIDEO SYSTEM - JENSEN AUDIO 24,528 10,549 13,979  


    TY 2020 LegalFeesSchedule
    Name:
    TOWBES FOUNDATION
    EIN:
    95-3519577
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 41,833 0 0 41,833


    TY 2020 OtherAssetsSchedule
    Name:
    TOWBES FOUNDATION
    EIN:
    95-3519577
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    OTHER ASSETS 906,941 0 0


    TY 2020 OtherExpensesSchedule
    Name:
    TOWBES FOUNDATION
    EIN:
    95-3519577
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT CUSTODY FEES 32,056 32,056 0 0
    MEMBERSHIP DUES 1,500 0 0 1,500
    OFFICE 3,166 0 0 3,241
    SOFTWARE 9,490 0 0 9,490
    PAYROLL PROCESSING FEES 3,154 0 0 3,154
    COMPUTER 582 0 0 582
    COPYING 1,981 0 0 1,981
    HVAC 706 0 0 706
    INSURANCE - LIABILITY 6,414 0 0 6,414
    JANITORIAL 4,418 0 0 4,418
    MISCELLANEOUS 180 0 0 2,025
    TELEPHONE 6,920 0 0 6,920
    WORKERS COMP INSURANCE 465 0 0 465
    WEBSITE 1,717 0 0 1,717
    BANK CHARGES 75 0 0 0
    PENALTIES 1,845 0 0 0
    COMMON AREA EXPENSES 1,271,600 1,271,600   0
    OPERATING EXPENSES 838,216 838,216   0
    DEPRECIATION/AMORTIZATION 624,480 624,480   0
    OTHER DEDUCTIONS 57,163 57,163   0
    PORTFOLIO DEDUCTION 1,305 1,305   0
    SECTION 754 EXPENSE 58,555 58,555   0
    SECTION 754 EXPENSE 99,982 99,982   0


    TY 2020 OtherLiabilitiesSchedule
    Name:
    TOWBES FOUNDATION
    EIN:
    95-3519577
    Description Beginning of Year - Book Value End of Year - Book Value
    DEFICIT IN INVESTMENT 0 965,126


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    TOWBES FOUNDATION
    EIN:
    95-3519577
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CONSULTING 7,200 0 0 7,200


    TY 2020 TaxesSchedule
    Name:
    TOWBES FOUNDATION
    EIN:
    95-3519577
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAXES - FEDERAL 86,062 0 0 0
    PAYROLL TAXES 11,098 0 0 11,098