Santa Barbara Foundation FY2021 filing

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The mission of the Santa Barbara Foundation (sbf) is to mobilize collective wisdom and philanthropic capital to build empathetic, inclusive and resilient communities.sbf is a community Foundation established in 1928 to enrich the lives of the people of Santa Barbara county through philanthropy. As one of the largest private sources of funding for area nonprofits, agencies and college bound students, sbf builds and facilitates philanthropy through donor partnerships; invests in nonprofits; and identifies and strategically addresses important community needs.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$1.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $11.0M a year · 17% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.1M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
11 mo
of spending, in cash
Plus $273.2M in investments, Pt X · Ln 11–13
Looks good: 11.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $47K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$34.2M
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$53.6M
+24% vs prior year
Spent
$43.6M
To programs
92%
Net assets
$422.4M
By yearFY2020–FY2024
Revenue
$53.6M
FY2021▲ +24%
Tap a bar for its year
Revenue by fiscal year
FY2020$43.3M
FY2021$53.6M
FY2022$65.1M
FY2023$37.8M
FY2024$121.6M
Expenses
$43.6M
FY2021▲ +33%
Tap a bar for its year
Expenses by fiscal year
FY2020$32.9M
FY2021$43.6M
FY2022$34.0M
FY2023$35.8M
FY2024$120.0M
Net assets
$422.4M
FY2021▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$391.1M
FY2021$422.4M
FY2022$407.4M
FY2023$437.2M
FY2024$470.3M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1938.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $40.2M Management & general 5% · $2.3M Fundraising 3% · $1.1M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

25 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$326,158Pt VII · Sec A
VP, Finance & Admin (as of 4/1/21)
$174,454Pt VII · Sec A
CFO (thru 3/31/21); SR Dir of Fin
$154,546Pt VII · Sec A
Vice President, Programs
$154,389Pt VII · Sec A
Director of Donor Relations
$116,350Pt VII · Sec A
Director, Policy and External Affairs
$103,027Pt VII · Sec A
Dir of Collab for Social Impact
$101,939Pt VII · Sec A
$0Pt VII · Sec A

Jacqueline Carrera’s $457K as President & CEO is at the 46th percentile of top reported officer pay among 129 $100M+ philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jacqueline Carrera$457,442$401,076$372,313$326,158$324,918
Ronald Gallo Edd————$369,111
Todd Yuba$297,791$266,785$254,802$174,454—
Elizabeth Thasiah$224,387————
Tammy Sims Johnson$214,255$194,520———
Janet Mocker$187,271$171,472$159,518$154,546$166,837
Rubayi Estes—$140,900$168,641$154,389$127,151
Jessica Sanchez$144,202—$117,987$116,350—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Santa Barbara Foundation executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Mobilizes philanthropic capital and donor partnerships to fund local nonprofits, address community needs, and provide college scholarships for students in Santa Barbara County.

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3 programs · $40.2M · in their own filed words · FY2021
01

SBF serves the entire county of santa barbara, funding a wide range of initiatives, projects and organizations. In 2021, SBF awarded over 2,000 grants to nonprofit organizations. Grants are made through SBF from various types of funds, including: donor advised funds, donor designated funds and field of interest funds.

$26.2Mprogram expense
02

SBF served as fiscal sponsor for the foothills forever fund for the preservation of the san marcos foothills open space. This arrangement allowed the campaign organizers to focus on fundraising while SBF handled the administrative aspects of receiving and processing donations of over $11 million that was then granted to channel islands…

$12.6Mprogram expense
03

SBF provided funding of over $1 million in 2021 to local nonprofit organizations providing services in the areas of behavioral health, health care, food, and shelter & safety thorough its community grants programs.

$1.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$47K
Grants paid · 2,065 grants · $149.7M · 2020–2024
Dechomai Asset TrustFL · FY2024$7,000,000
Foothills Forever IncorporatedCA · FY2024$1,159,104
Community PartnersCA · FY2024$890,993
Lewis and Clark CollegeOR · FY2024$756,340
Animal Legal Defense Fund INCCA · FY2024$689,100
Congregation Bnai BrithCA · FY2024$605,100
Music Academy of the WestCA · FY2024$403,321
Santa Barbara Museum of ArtCA · FY2024$313,110
Lexington Observer INCMA · FY2024$300,000
State Innovation ExchangeWI · FY2024$300,000
Wyatt Family FoundationCA · FY2024$272,870
See all 2,065 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$53.6M
Ln 12
Gifts and grantsLn 1h$41.3M
Investment incomeLn 3$11.9M
Fees for servicesLn 2g$595K
Money outPt IX
$43.6M
Ln 25
Programscol B$40.2M
Managementcol C$2.3M
Fundraisingcol D$1.1M
Owns and owesPt X
$422.4M
net assets · Ln 32
Cash and savingsLn 1–2$40.9M
Total assetsLn 16$456.6M
LiabilitiesLn 26$34.2M
PeoplePt VI, VII
25
listed · VII A
PaidVII A7
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$41.3M
Government grantsLn 1e$1.1M
Noncash giftsLn 1g$13.7M
Fees for servicesLn 2g$595K
Investment incomeLn 3$11.9M
Gains on assetsLn 7$7.7M
Total revenueLn 12$53.6M
Assets in detailPt X, end of year
CashLn 1$32K
SavingsLn 2$40.8M
Cash and savings togetherLn 1–2$40.9M
InvestmentsLn 11–13$273.2M
Land, buildings, equipmentLn 10c$13.3M
Other assetsLn 15$83.7M
Total assetsLn 16$456.6M
LiabilitiesLn 26$34.2M
Net assetsLn 32$422.4M
OperationsPt I, VI
EmployeesI 537
VolunteersI 660
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Grants to other countriesSch F Pt II–III$95K
Noncash gifts receivedSch M Pt I$13.7M
EndowmentSch D · Pt V
LineFY21FY20FY19FY18FY17
End of yearLn 1g$70.6M$65.0M$54.1M$45.6M$48.7M
Given inLn 1b$1K$7.1M$116K$762K$326K
SpentLn 1d–1f$3.1M$2.8M$2.1M$2.6M$2.9M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$40.7M$40.9M
InvestmentsLn 11–13$231.6M$273.2M
Land, buildings, equipmentLn 10c$13.8M$13.3M
Total assetsLn 16$421.0M$456.6M
LiabilitiesLn 26$29.9M$34.2M
Net assetsLn 32$391.1M$422.4M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$35.8M$35.8M
Grants to domestic individualsLn 2$574K$574K
Grants and assistance to foreign recipientsLn 3$95K$95K
Pay of current officers, directors and key staffLn 5$831K$153K$481K$197K
Other salaries and wagesLn 7$2.3M$925K$928K$399K
Pension plan contributionsLn 8$198K$69K$91K$38K
Other employee benefitsLn 9$300K$105K$138K$57K
Payroll taxesLn 10$223K$78K$103K$42K
Management feesLn 11a$241K$193K$26K$22K
Legal feesLn 11b$21K$6K$6K$8K
Accounting feesLn 11c$99K$99K
Investment management feesLn 11f$428K$428K
Other fees for servicesLn 11g$887K$887K
Advertising and promotionLn 12$156K$100K$4K$53K
Office expensesLn 13$91K$40K$38K$12K
Information technologyLn 14$290K$111K$132K$48K
OccupancyLn 16$291K$138K$89K$64K
Conferences, conventions and meetingsLn 19$56K$20K$26K$10K
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$227K$77K$93K$57K
InsuranceLn 23$45K$16K$24K$5K
Other expenses (24a–d)Ln 24$537K$400K$39K$99K
Total functional expensesLn 25$43.6M$40.2M$2.3M$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 10, 2025 $121.6M$120.0M$1.6M$470.3M 990 PDF
FY2023Filed with the IRS Nov 9, 2024 $37.8M$35.8M$2.0M$437.2M 990 PDF
FY2022Filed with the IRS Nov 13, 2023 $65.1M$34.0M$31.1M$407.4M 990 PDF
FY2021 ViewingFiled with the IRS Nov 15, 2022 $53.6M$43.6M$9.9M$422.4M 990 PDF
FY2020Filed with the IRS Nov 11, 2021 $43.3M$32.9M$10.3M$391.1M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $53,590,434 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $32,306,178$41,277,734
I-9 Program service revenuePrior year $521,808$595,405
I-10 Investment incomePrior year $10,631,369$11,907,616
I-11 Other revenuePrior year −$204,651−$190,321
I-12 Total revenuePrior year $43,254,704$53,590,434
I-13 Grants and similar amounts paidPrior year $24,863,951$36,459,574
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,946,269$3,805,739
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,106,526$3,376,305
I-18 Total expensesPrior year $32,916,746$43,641,618
I-19 Revenue less expensesPrior year $10,337,958$9,948,816
Part VI · Governance 16 of 16 board members independent, no flags
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $53,590,434 across 11 lines filed
VIII-1d Related organizations$100,000
VIII-1e Government grants$1,106,797
VIII-1f All other contributions, gifts and grants$40,070,937
VIII-1g Noncash contributions (included above)$13,677,754
VIII-1h Total contributions, gifts and grants$41,277,734
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $595,405$595,405
VIII-3 Investment incomeUnrelated business $148,066 · Excluded from tax $4,056,655$4,204,721
VIII-6 Net rental income or lossUnrelated business $45,556 · Excluded from tax −$267,261−$221,705
VIII-7 Net gain or loss on sales of assetsExcluded from tax $7,702,895$7,702,895
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $31,384$31,384
VIII-12 Total revenueRelated to mission $595,405 · Unrelated business $193,622 · Excluded from tax $11,523,673$53,590,434
Part IX · Statement of functional expenses $43,641,618 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $35,790,097$35,790,097
IX-2 Grants to domestic individualsPrograms $574,477$574,477
IX-3 Grants and assistance to foreign recipientsPrograms $95,000$95,000
IX-5 Pay of current officers, directors and key staffPrograms $152,926 · Management $480,684 · Fundraising $197,474$831,084
IX-7 Other salaries and wagesPrograms $924,673 · Management $928,384 · Fundraising $399,267$2,252,324
IX-8 Pension plan contributionsPrograms $69,453 · Management $91,281 · Fundraising $37,703$198,437
IX-9 Other employee benefitsPrograms $105,161 · Management $138,211 · Fundraising $57,087$300,459
IX-10 Payroll taxesPrograms $78,202 · Management $102,780 · Fundraising $42,453$223,435
IX-11a Management feesPrograms $193,444 · Management $25,908 · Fundraising $21,783$241,135
IX-11b Legal feesPrograms $6,287 · Management $6,287 · Fundraising $8,383$20,957
IX-11c Accounting feesManagement $98,984$98,984
IX-11f Investment management feesPrograms $427,762$427,762
IX-11g Other fees for servicesPrograms $887,235$887,235
IX-12 Advertising and promotionPrograms $99,993 · Management $3,530 · Fundraising $52,838$156,361
IX-13 Office expensesPrograms $40,377 · Management $38,325 · Fundraising $12,464$91,166
IX-14 Information technologyPrograms $110,689 · Management $131,551 · Fundraising $47,891$290,131
IX-16 OccupancyPrograms $138,402 · Management $89,181 · Fundraising $63,554$291,137
IX-19 Conferences, conventions and meetingsPrograms $20,122 · Management $26,269 · Fundraising $9,502$55,893
IX-20 InterestPrograms $6,800$6,800
IX-22 Depreciation, depletion and amortizationPrograms $77,059 · Management $92,924 · Fundraising $56,661$226,644
IX-23 InsurancePrograms $15,848 · Management $24,055 · Fundraising $4,893$44,796
IX-24 Other expenses (24a–d)Programs $399,724 · Management $38,543 · Fundraising $99,037$537,304
IX-25 Total functional expensesPrograms $40,213,731 · Management $2,316,897 · Fundraising $1,110,990$43,641,618
Part X · Balance sheet $456,585,072 assets, 19 lines filed
Asset lines not itemized here account for $3,039,577; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $64,508$31,790
X-2 Savings and temporary cash investmentsStart of year $40,670,728$40,825,467
X-3 Pledges and grants receivableStart of year $46,340,597$41,402,282
X-4 Accounts receivableStart of year $627,857$965,450
X-9 Prepaid expenses and deferred chargesStart of year $144,345$114,812
X-10c Land, buildings and equipment, netStart of year $13,819,857$13,294,088
X-11 Publicly traded securitiesStart of year $113,679,061$135,763,890
X-12 Other securitiesStart of year $117,915,856$137,429,067
X-15 Other assetsStart of year $82,619,409$83,718,649
X-16 Total assetsStart of year $420,966,327$456,585,072
X-17 Accounts payable and accrued expensesStart of year $328,339$282,205
X-18 Grants payableStart of year $205,250$272,000
X-24 Unsecured notes and loans payableStart of year $602,500$0
X-25 Other liabilitiesStart of year $25,736,975$30,700,565
X-26 Total liabilitiesStart of year $29,865,208$34,166,981
X-27 Net assets without donor restrictionsStart of year $244,699,005$266,875,090
X-28 Net assets with donor restrictionsStart of year $146,402,114$155,543,001
X-32 Total net assets or fund balancesStart of year $391,101,119$422,418,091
X-33 Total liabilities and net assetsStart of year $420,966,327$456,585,072
Part XI · Reconciliation of net assets $422,418,091 net assets at year end
XI-1 Total revenue$53,590,434
XI-2 Total expenses$43,641,618
XI-3 Revenue less expenses$9,948,816
XI-4 Net assets at start of year$391,101,119
XI-5 Net unrealized gains (losses) on investments$18,449,748
XI-9 Other changes in net assets$2,918,408
XI-10 Net assets at end of year$422,418,091

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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