Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
Audacious Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)PO Box 91340
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Santa Barbara, CA931901340
A Employer identification number

47-4602068
B Telephone number (see instructions)

(805) 564-2186
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$4,179,100
J 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) 16,997
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 83,528 83,528 83,528
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 761,576
b Gross sales price for all assets on line 6a 2,085,037
7 Capital gain net income (from Part IV, line 2)... 761,576
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)....... 426 0 426
12 Total. Add lines 1 through 11........ 862,527 845,104 83,954
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 181,209 0 0 181,209
14 Other employee salaries and wages...... 93,447 0 0 93,447
15 Pension plans, employee benefits....... 82,996 0 0 82,996
16a Legal fees (attach schedule)......... 938 0 0 938
b Accounting fees (attach schedule)....... 4,047 1,012 0 3,035
c Other professional fees (attach schedule).... 7,500 0 0 7,500
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... 28,121 8,600 0 19,521
19 Depreciation (attach schedule) and depletion... 358 0 0
20 Occupancy..............        
21 Travel, conferences, and meetings....... 83,144 0 0 83,144
22 Printing and publications..........        
23 Other expenses (attach schedule)....... 40,404 0 0 40,404
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 522,164 9,612 0 512,194
25 Contributions, gifts, grants paid....... 1,179,763 1,179,763
26 Total expenses and disbursements. Add lines 24 and 25 1,701,927 9,612 0 1,691,957
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -839,400
b Net investment income (if negative, enter -0-) 835,492
c Adjusted net income (if negative, enter -0-)... 83,954
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
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............. 366,295 266,227 266,227
2 Savings and temporary cash investments......... 111,835 577,686 577,686
3 Accounts receivable right arrow5,926
Less: allowance for doubtful accounts right arrow   8,666 5,926 5,926
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... -1,626    
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 4,467,839 Click to see attachment
List of Attached Documents:
// Content
3,086,786
3,086,786
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 242,148 Click to see attachment
List of Attached Documents:
// Content
242,148
242,148
14 Land, buildings, and equipment: basis right arrow1,788
Less: accumulated depreciation (attach schedule) right arrow1,461 685 Click to see attachment
List of Attached Documents:
// Content
327
327
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 5,195,842 4,179,100 4,179,100
Liabilities 17 Accounts payable and accrued expenses.......... 14,844 14,167
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 right arrow)    
23 Total liabilities (add lines 17 through 22)......... 14,844 14,167
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 5,180,998 4,164,933
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 5,180,998 4,164,933
30 Total liabilities and net assets/fund balances (see instructions). 5,195,842 4,179,100
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
5,180,998
2
Enter amount from Part I, line 27a .....................
2
-839,400
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
4,517
4
Add lines 1, 2, and 3 ..........................
4
4,346,115
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
181,182
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
4,164,933
Form 990-PF (2023)
Form 990-PF (2023)
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 830 shares AAPL P 2013-06-26 2023-02-10
b 475 shares BR P 2020-03-20 2023-02-10
c 575 shares HSY P 2016-01-20 2023-02-10
d 125 shares KMB P 2008-12-31 2023-02-10
e 565 shares KMB P 2021-01-20 2023-02-10
450 shares MSFT P 2010-10-07 2023-02-10
825 shares GOOG P 2022-11-02 2023-05-02
250,000 shares Yum Brands P 2021-01-21 2023-04-28
150 shares BR P 2010-06-28 2023-05-02
155 shares CLX P 2009-01-14 2023-05-02
350 shares CLX P 2022-02-16 2023-05-02
225 shares HSY P 2016-01-20 2023-05-02
425 shares KMB P 2008-12-31 2023-05-02
320 shares MKC P 2021-01-20 2023-05-02
295 shares MKC P 2021-11-24 2023-05-02
1070 shares MRK P 2021-01-20 2023-05-02
125 shares MRK P 2021-03-18 2023-05-02
24 shares AAPL P 2013-06-26 2023-06-29
95 shares BR P 2010-06-28 2023-06-29
170 shares KMB P 2008-12-31 2023-06-29
415 shares SHCO P 2022-03-01 2023-06-29
525 shares GOOG P 2018-06-27 2023-08-14
240 shares AAPL P 2014-06-26 2023-08-14
465 shares BR P 2010-06-28 2023-08-14
250,000 shares ICAHN P 2021-01-21 2023-08-14
140 shares MSFT P 2010-10-07 2023-08-14
ATVI merger P 2022-08-19 2023-10-13
(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 124,373   11,774 112,599
b 68,814   44,534 24,280
c 137,336   49,078 88,258
d 16,106   6,329 9,777
e 72,798   74,241 -1,443
117,484   11,036 106,448
87,643   74,596 13,047
247,400   252,595 -5,195
22,969   2,930 20,039
25,952   8,006 17,946
58,600   49,440 9,160
61,341   19,204 42,137
61,865   21,517 40,348
28,197   29,427 -1,230
25,994   25,147 847
125,414   83,840 41,574
14,651   9,204 5,447
4,545   340 4,205
15,460   1,855 13,605
23,358   8,607 14,751
2,355   3,290 -935
68,940   29,082 39,858
42,912   3,405 39,507
85,224   9,082 76,142
241,753   254,788 -13,035
45,123   3,434 41,689
258,430   236,680 21,750
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       112,599
b       24,280
c       88,258
d       9,777
e       -1,443
      106,448
      13,047
      -5,195
      20,039
      17,946
      9,160
      42,137
      40,348
      -1,230
      847
      41,574
      5,447
      4,205
      13,605
      14,751
      -935
      39,858
      39,507
      76,142
      -13,035
      41,689
      21,750
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 2 761,576
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 13,047
Part V
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 right arrow 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) 1 11,613
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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 11,613
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 11,613
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 8,500
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 8,500
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 98
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 3,211
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow   Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-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. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 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:
round bullet By language in the governing instrument, or
round bullet 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 XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowCA, DE
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 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
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
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 addressright arrowwww.audaciousfoundation.org
14
The books are in care ofright arrowCatherine Brozowski Telephone no.right arrow (805) 564-2186

Located atright arrowPO Box 91340Santa BarbaraCA ZIP+4right arrow93190
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, 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 right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-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? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(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)? ......................
1a(5)
 
No
(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.) ...............
1a(6)
 
No
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
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
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 2023? .............
1d
 
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 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 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 2023.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-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))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
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
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
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? .................
5d
 
 
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? .............................
6a
 
No
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?
7a
 
No
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? .........................
8
 
No
Part VII
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
Paul J Orfalea Chair/Treasurer
5.00
0 0 0
PO Box 91340
Santa Barbara,CA93190
Catherine Brozowski President/Secretary
25.00
181,209 0 0
PO Box 91340
Santa Barbara,CA93190
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
Adrianna Foss Early Childhood Dire
10.00
93,447 0 0
PO Box 91340
Santa Barbara,CA93190
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
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.............right arrow0
Part VIII-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 Grantmaking for Whole Child Education 1,179,763
2 Host an Early Childhood Center Director's Retreat providing networking and professional development around whole child education 76,487
3  
4  
Part VIII-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.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
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
3,647,094
b
Average of monthly cash balances.......................
1b
101,329
c
Fair market value of all other assets (see instructions)................
1c
242,147
d
Total (add lines 1a, b, and c).........................
1d
3,990,570
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
3,990,570
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
59,859
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
3,930,711
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
196,536
Part X
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 IX, line 6..................
1
196,536
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
11,613
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
11,613
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
184,923
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
184,923
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 XII, line 1 ...
7
184,923
Part XI
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
1,691,957
b
Program-related investments—total from Part VIII-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 XII, line 4. .......
4
1,691,957
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus
(b)
Years prior to 2022
(c)
2022
(d)
2023
1 Distributable amount for 2023 from Part X, line 7 184,923
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 2,106,172
b From 2019...... 3,955,771
c From 2020...... 412,676
d From 2021...... 466,330
e From 2022...... 1,279,681
f Total of lines 3a through e ........ 8,220,630
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 1,691,957
a Applied to 2022, 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 2023 distributable amount..... 184,923
e Remaining amount distributed out of corpus 1,507,034
5 Excess distributions carryover applied to 2023. 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 9,727,664
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 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions .............
0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 ..........
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 2018 not
applied on line 5 or line 7 (see instructions) ...
2,106,172
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ......
7,621,492
10 Analysis of line 9:
a Excess from 2019.... 3,955,771
b Excess from 2020.... 412,676
c Excess from 2021.... 466,330
d Excess from 2022.... 1,279,681
e Excess from 2023.... 1,507,034
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-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 2023, enter the date of the ruling ...... right arrow
 
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 IX for each
year listed ..........
Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
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 IX, 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 XIV
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).)
Paul J Orfalea
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 right arrow
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 (2023)
Form 990-PF (2023)
Page 11
Part XIV
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

Carpinteria Community Church-Kinderkirk

1111 Vallecito Rd
Carpinteria,CA93013
  PC Early Childhood Education Retreat Best Practices Winner 250

Carpinteria Unified School District

1400 Linden Avenue
Carpinteria,CA93013
  PC Spruce Up Grant for TK Outdoor Classroom Improvement and Teacher Training 3,400

Channel Islands YMCA

1180 Eugenia Place Ste 104
Carpinteria,CA93013
  PC Swim Lessons for low-income students in partnership with 3 schools 2023 (Notre Dame, Our Lady of Guadalupe, and St. Raphael's) 21,000

Channel Islands YMCA

1180 Eugenia Place Ste 104
Carpinteria,CA93013
  PC Summer Swim Lessons for students 6,854

Channel Islands YMCA

1180 Eugenia Place Ste 104
Carpinteria,CA93013
  PC Swim Lessons for low-income students in partnership with 1 school 2023 (St Anthony's) 5,226

Children's Resource & Referral

2861 Airpark Dr STE 201
Santa Maria,CA93455
  PC Spruce Up Grant for WINGS Preschool Outdoor Classroom supplemental turf installation 5,000

Community Action Commission dba CommUnify

5638 Hollister Avenue Suite 230
Goleta,CA93117
  PC Spruce Up Grant for Sierra Madre Center to develop a designated outdoor area and provide shade 4,234

Community Action Commission dba CommUnify

5638 Hollister Avenue Suite 230
Goleta,CA93117
  PC Spruce Up Grant for the outdoor area of Los Padres center by purchasing bikes and scooters, outdoor carpet, dress up center, outdoor math activity cart, and magnetic writing board 4,234

Community Action Commission dba CommUnify

5638 Hollister Avenue Suite 230
Goleta,CA93117
  PC Spruce Up Grant for Little Village outdoor classroom to develop a high quality outdoor environment with more loose parts, outdoor furniture, gardening material and outdoor toys 2,500

Community Environmental Council

1219 State St
Santa Barbara,CA93101
  PC Rethink the Drink at 3 Schools in Santa Barbara and Ventura Counties 2023-24, plus CEC Green Gala Green Benefactor sponsorship 12,000

Cottage Health System

PO Box 689
Santa Barbara,CA93102
  PC Spruce Up Grant for Toddler Outdoor Classroom Enhancement 4,328

Explore Ecology

302 E Cota Street
Santa Barbara,CA93101
  PC Preschool Nature-Based Environmental Education Program 337,412

First Presbyterian Church Santa Barbara

21 East Constance Avenue
Santa Barbara,CA93105
  PC Spruce Up Grant for 7 Stages of Block Play, replacing materials in the block area outdoor classrooms, training teachers on the seven stages of block play and additional coaching to support the teachers with their curriculum planning. 4,550

Foundation for Santa Barbara City College

721 Cliff Dr
Santa Barbara,CA93109
  PC Spruce Up Grant for outdoor shade & resource cabinets for the Orfalea Early Learning Center, 2023-2024 4,950

Garden Preschool

305 E Anapamu Street
Santa Barbara,CA93101
  PC Spruce Up Grant to create an Outdoor Zen Area 2,500

Goleta Union School District

401 North Fairview Avenue
Goleta,CA93117
  PC Spruce Up grant for an Outdoor Large Motor Activity Set at Hollister Preschool 5,000

Goleta Union School District

401 North Fairview Avenue
Goleta,CA93117
  PC Spruce Up Grant for Outdoor Play Equipment at La Patera Preschool 5,000

Guadalupe Union School District

4465 Ninth Street PO Box 788
Guadalupe,CA93434
  PC swim lessons for 3rd grade elementary students (130 students) 7,000

Hope School District

3970 La Colina Rd
Santa Barbara,CA93110
  PC Spruce Up Grant for developing an outdoor classroom with large loose parts and storage at Hope School TK 5,000

Hope School District

3970 La Colina Rd
Santa Barbara,CA93110
  PC Spruce Up Grant for Outdoor Classroom Storage Unit and Portable Play Panels at Vieja Valley 4,428

Isla Vista Youth Projects dba LEAP

6842 Phelps Road
Goleta,CA93117
  PC Spruce Up Grant for Hands-On Outdoor Science Stations (Phelps Rd. Goleta Campus) 5,000

Isla Vista Youth Projects dba LEAP

6842 Phelps Road
Goleta,CA93117
  PC Spruce Up Grant for Hands-On Outdoor Science Stations (Isla Vista Campus) 4,700

KaBoom

7200 Wisconsin Ave Suite 400
Bethesda,MD20814
  PC creation of a new playspace in Hyattsville, MD 15,000

Leading From Within

PO Box 806
Santa Barbara,CA93102
  PC 2023 Emergence Lab to be held in October 2023, on behalf of Kiva 5,000

Monroe Elementary School

431 Flora Vista D
Santa Barbara,CA93109
  PC Early Childhood Education Retreat Best Practices Winner 150

NatureTrack Foundation

PO Box 953
Los Olivos,CA93441
  PC Fostering a Lifelong Fascination with Nature student trips 2023 - 2024 4,360

NatureTrack Foundation

PO Box 953
Los Olivos,CA93441
  PC Fostering a Lifelong Fascination with Nature student trips 2023 - 2024 10,444

One Sport Foundation

315 Meigs Rd Ste A-431
Santa Barbara,CA93109
  PC after-school soccer clinics on school campuses Spring 2023. These classes were held on the campuses of Notre Dame, La Purisima, and Our Lady of Guadalupe and are completed. 19,800

Planned Parenthood California Central Coast

518 Garden St
Santa Barbara,CA93101
  PC Postpartum home visitation program for newborn parents, providing lactation support and post-partum resources 40,000

Providence School

3225 Calle Pion
Santa Barbara,CA93105
  PC Spruce Up Grant for outdoor classroom space and garden, adding a water and sand outdoor sensory table and loose parts storage 1,043

San Marcos ParentChild Workshop

400 Puente Dr Suite A
Santa Barbara,CA93117
  PC Spruce Up Grant for a San Marcos Parent Child Workshop Storage Shed 4,200

Santa Barbara County Education Office

4400 Cathedral Oaks Road
Santa Barbara,CA931606307
  PC Spruce Up Grant for outdoor garden area with outdoor furniture and planters at 3 sites, Transforming Little Minds, One Garden at a Time 5,000

Santa Barbara Foundation

1111 Chapala Street
Santa Barbara,CA93101
  PC 10th Annual School Wellness Summit's Week of Wellness October 2-6, 2023 10,000

Santa Barbara Foundation

1111 Chapala Street
Santa Barbara,CA93101
  PC Key Class programming for 23-24, providing Life Skills Classes to eighth grade students at three schools 6,650

Santa Barbara Foundation

1111 Chapala Street
Santa Barbara,CA93101
  PC Key Class MOXI Graduation Dinner 1,373

Santa Maria Valley YMCA

3400 Skyway Drive
Santa Maria,CA93455
  PC Spruce Up Grant for outdoor classroom enhancements, including storage space, sensory tables, imaginative play and outdoor seating for the Young Children's Preschool 5,000

Santa Maria Valley YMCA

3400 Skyway Drive
Santa Maria,CA93455
  PC preschool swim lessons 1,520

South Coast Montessori

7421 Mirano Dr
Goleta,CA93117
  PC Spruce Up Grant for indoor and outdoor materials for your Primary preschool environments 5,000

St Vincent's Institution

4200 Calle Real
Santa Barbara,CA931101454
  PC Spruce Up Grant for Professional Development for a staff and director training at St. Vincents Early Childhood Education Center 2,223

Starr-King Parent-Child Workshop

1525 1/2 Santa Barbara Street
Santa Barbara,CA93101
  PC Spruce Up Grant to provide a new weather-proof home for animals 5,000

Storyteller Childrens Center

2115 State Street
Santa Barbara,CA93105
  PC Spruce Up grant for staff training and purchasing the resources necessary for ECERS-3 and ITERS-R 3,663

The Foundation Roundtable

PO Box 60157
Santa Barbara,CA93160
  PC Nonprofit Resource Network, Partnership for Excellence, and Foundation Roundtable 7,000

The Foundation Roundtable

PO Box 60157
Santa Barbara,CA93160
  PC Foundation Roundtable 1,000

University of California Santa Barbara

ICA Building 243
Santa Barbara,CA93106
  PC Spruce Up Grant for The Infant Toddler Yard Enhancements for a new infant climbing structure and playhouse for toddlers at University Children's Center 5,000

University of California Santa Barbara

ICA Building 243
Santa Barbara,CA93106
  PC Spruce Up Grant for Toddler Play Yard Renovations 4,789

Ventura College Foundation

4667 Telegraph Rd
Ventura,CA93003
  PC Spruce Up Grant for Outdoor Classroom Environment Nature Enhancement including a gazebo, garden boxes, a natural river rock water way, a living wall, a vine trellis, and irrigation 5,000

Ventura Land Trust

3451 Foothill Rd 201
Ventura,CA93003
  PC Nature by Design, which creates meaningful outdoor experiences to reawaken an innate human affinity for Nature, for students at Our Lady of Guadalupe and St. Anthony's Schools in the 23-24 school year 39,000

Wilderness Youth Project Incorporated

2040 Alameda Padre Serra Ste 224
Santa Barbara,CA93103
  PC REACH Fellowship, supporting first generation college going, lower income youth to achieve their full potential 512,006

Zaca Center Preschool

27 Six Flags Circle
Buellton,CA93427
  PC Spruce Up Grant for replacement of outdoor discovery centers including wood working benches, tool bench, wooden science centers, and wooden tables 5,000

Zaca Center Preschool

27 Six Flags Circle
Buellton,CA93427
  PC Early Childhood Education Retreat Best Practices Winner 500

Franklin Elementary PTA

1111 E Mason Street
Santa Barbara,CA93103
  PC in-kind gift of 34 MOXI General Admissions Passes 476
Total .................................right arrow 3a 1,179,763
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-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 ...........
         
4 Dividends and interest from securities ....     14 83,528  
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 .....     14    
8 Gain or (loss) from sales of assets other than
inventory ............
    14 761,576  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOther revenue
    14 426  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 845,530 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
845,530
(See worksheet in line 13 instructions to verify calculations.)
Part XV-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 XV-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 (2023)
Form 990-PF (2023)
Page 13
Part XVI
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.
right arrow right arrow
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 Check if self-
employed right arrow
PTIN
Firm's name SmallBullet
Firm's EIN SmallBullet
Firm's address SmallBullet


Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
Audacious Foundation
EIN:
47-4602068
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting fees 4,047 1,012 0 3,035

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

TY 2023 DepreciationSchedule
Name:
Audacious Foundation
EIN:
47-4602068
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
Lenovo Thinkpad for CB 2019-12-06 1,788 1,103 SL 5.000000000000 358 0 0  

TY 2023 InvestmentsCorpStockSchedule
Name:
Audacious Foundation
EIN:
47-4602068
Name of Stock End of Year Book Value End of Year Fair Market Value
Corporate Securities 3,086,786 3,086,786

TY 2023 InvestmentsOtherSchedule2
Name:
Audacious Foundation
EIN:
47-4602068
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
1601 State Street Hotel FMV 92,748 92,748
Coursebase, LLC FMV 149,400 149,400

TY 2023 LandEtcSchedule2
Name:
Audacious Foundation
EIN:
47-4602068
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
Lenovo Thinkpad for CB 1,788 1,461 327 327


TY 2023 LegalFeesSchedule
Name:
Audacious Foundation
EIN:
47-4602068
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Legal fees 938 0 0 938


TY 2023 OtherDecreasesSchedule
Name:
Audacious Foundation
EIN:
47-4602068
Description Amount
Unrealized loss on investment 181,182


TY 2023 OtherExpensesSchedule
Name:
Audacious Foundation
EIN:
47-4602068
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Supplies/Equipment 5,380 0 0 5,380
Computer/database 9,559 0 0 9,559
Other expenses 4,515 0 0 4,515
Website 450 0 0 450
Insurance 6,996 0 0 6,996
Gifts given 10,082 0 0 10,082
Payroll fees 1,246 0 0 1,246
Workers compensation 2,176 0 0 2,176


TY 2023 OtherIncomeSchedule2
Name:
Audacious Foundation
EIN:
47-4602068
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Other revenue 426   426


TY 2023 OtherIncreasesSchedule
Name:
Audacious Foundation
EIN:
47-4602068
Description Amount
Prior year adjustment 4,517


TY 2023 OtherProfessionalFeesSchedule
Name:
Audacious Foundation
EIN:
47-4602068
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LOUD Consultants 7,500 0 0 7,500


TY 2023 TaxesSchedule
Name:
Audacious Foundation
EIN:
47-4602068
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Taxes and licenses 8,600 8,600 0 0
Payroll taxes 19,521 0 0 19,521