Return of Private Foundation OMB No 1545-0052 Form 990 -PF Or Section 4947 ( A)(1) Nonexempt Charitable Trust ` Treated As a Private Foundation 2010 Note
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l efile GRAPHIC p rint - DO NOT PROCESS As Filed Data - DLN: 93491318003451 Return of Private Foundation OMB No 1545-0052 Form 990 -PF or Section 4947 ( a)(1) Nonexempt Charitable Trust ` Treated as a Private Foundation 2010 Note . The foundation may be able to use a copy of this return to satisfy state reporting requirements Department of the Treasury Internal Revenue Service For calendar year 2010 , or tax year beginning 01-01-2010 , and ending 12-31-2010 G Check all that apply r'Initial return r'Initial return of a former public charity r'Final return FA mended return r'Address change r'Name change Name of foundation A Employer identification nu The James Irvine Foundation 94-1236937 Number and street (or P 0 box number if mail is not delivered to street address) Room/suite is ieiepnone numoer (see page iu or the instructions) 575 Market Street Suite 3400 (415) 777-2244 City or town, state, and ZIP code C If exemption application is pending, check here Iii. F San Francisco, CA 94105 D 1. Foreign organizations, check here F H Check type of organization I' Section 501(c)(3) exempt private foundation 2. Foreign organizations meeting the 85% test, r- check here and attach computation Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation E If private foundation status was terminated 3 Accounting method F Cash F Accrual I Fair market value of all assets at end un d er sect ion 507 ( b )( 1 )( A), c h ec k h ere F o f y e a r (from Part I I, col. (c), O the r (specify ) F If the foundation is in a 60-month termination line 16)x$ 1,589,353,533 (Part I , column (d) must be on cash basis.) under section 507(b)(1)(B), check here Iii- F (d) Disbursements Analysis of Revenue and Expenses (The (a) Revenue and (b) Net investment (c) Adjusted net for charitable total of amounts in columns (b), (c), and (d) may not expenses per income income purposes necessenly equal the amounts in column (a) (see page 11 of books the instructions) ) (cash basis only) 1 Contributions, gifts, grants, etc , received (attach schedule) 0 2 Check 1111 F_ if the foundation is not required to attach Sch B 3 Interest on savings and temporary cash investments 1,659,370 1,659,370 4 Dividends and interest from securities. 18,454,978 14,555,103 5a Gross rents . b Net rental income or (loss) cp 6a Net gain or (loss) from sale of assets not on line 10 20,273,999 b Gross sales price for all assets on line 6a 1,119,596,760 75 7 Capital gain net income (from Part IV, line 2) 20,987,554 co 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) 157,554 14,448,047 12 Total . Add lines 1 through 11 . 40,545,901 51,650,074 13 Compensation of officers, directors, trustees, etc 1,268,622 461,096 807,526 14 Other employee salaries and wages 4,312,832 874,758 3,438,074 In 10 15 Pension plans, employee benefits . 2,178,183 466,699 1,711,484 16a Legal fees (attach schedule) . 65,863 40,030 0 25,833 b Accounting fees (attach schedule) . 147,000 80,850 0 66,150 W co c Other professional fees (attach schedule) . 4,578,715 4,087,993 490,722 4^ 17 Interest C5 18 Taxes (attach schedule) (see page 14 of the instructions) 239,706 19 Depreciation (attach schedule) and depletion . 434,763 73,910 20 Occupancy . 892,694 151,783 740,910 21 Travel, conferences, and meetings . 378,737 76,681 302,055 ss 22 Printing and publications . 15,189 2,328 12,861 23 Other expenses (attach schedule) . 2,414,884 516,084 1,898,800 ss 24 Total operating and administrative expenses. Add lines 13 through 23 . 16,927,188 6,832,212 0 9,494,415 25 Contributions, gifts, grants paid . 59,311,064 59,311,064 26 Total expenses and disbursements . Add lines 24 and 25 76,238,252 6,832,212 0 68,805,479 27 Subtract line 26 from line 12 a Excess of revenue over expenses and disbursements -35,692,351 b Net investment income (if negative, enter -0-) 44,817,862 c Adjusted net income (if negative, enter -0-) . For Privacy Act and Paperwork Reduction Act Notice , see page 30 of the instructions . Cat No 11289X Form 990-PF (2010) Form 990-PF (2010) Pane 2 Attached schedules and amounts in the description column Beginning of year End of year B a l ance Sheets should be for end-of- year amounts only (See instructions ( a) Boo k Va l ue ( b ) Boo k Va l ue (c) Fair M ark et Va l ue 1 Cash-non - interest-bearing . 16,029 18,438 18,438 2 Savings and temporary cash investments . 12,386,393 26,790,081 26,790,081 3 Accounts receivable 111111 16,942,740 Less allowance for doubtful accounts Oil 22,629,926 16,942,740 16,942,740 4 Pledges receivable ► Less allowance for doubtful accounts Oil 5 Grants receivable . 6 Receivables due from officers , directors , trustees , and other disqualified persons (attach schedule ) ( see page 15 of the instructions ) . 7 Other notes and loans receivable ( attach schedule) 111111 Less allowance for doubtful accounts Oil 8 Inventories for sale or use . 9 Prepaid expenses and deferred charges . 10a Investments - U S and state government obligations (attach schedule ) 68,784,926 79,652,520 82,408,803 b Investments - corporate stock ( attach schedule ) . 416,554,46 4 413,933,844 514,256,986 c Investments - corporate bonds (attach schedule ). 71,168,90 6 48,995,150 50,576,792 11 Investments - land, buildings , and equipment basis Oil Less accumulated depreciation ( attach schedule) ► 12 Investments - mortgage loans . 13 Investments - other ( attach schedule ) . 866,692,012 881,673,406 894,620,522 14 Land, buildings , and equipment basis Oil 3,315,595 Less accumulated depreciation ( attach schedule ) ' 1,851,987 1,835,28 4 1,463,608 1,463,608 15 Other assets ( describe Ilk- ) 47,205,191 2,275,563 2,275,563 16 Total assets ( to be completed by all filers-see the instructions Also, see page 1, item I ) 1,507,273,131 1,471,745,350 1,589,353,533 17 Accounts payable and accrued expenses . 2,960,408 3,650,293 18 Grants payable . 48,020,377 51,893,034 19 Deferred revenue . co 20 Loans from officers, directors , trustees , and other disqualified persons 21 Mortgages and other notes payable ( attach schedule) 22 Other liabilities ( describe O ) 0 2,374,851 23 Total liabilities ( add lines 17 through 22) . 50,980,785 57,918,178 Foundations that follow SFAS 117, check here ' F and complete lines 24 through 26 and lines 30 and 31. w1 4) 24 U nrestricted . 1,456,292,346 1,413,827,172 25 Temporarily restricted a 26 Permanently restricted Foundations that do not follow SFAS 117, check here F- r_ and complete lines 27 through 31. U- 27 Capital stock, trust principal , or current funds . 28 Paid-in or capital surplus , or land, bldg , and equipment fund n 29 Retained earnings, accumulated income, endowment , or other funds 30 Total net assets or fund balances (see page 17 of the instructions ) . 1,456,292,346 1,413,827,172 31 Total liabilities and net assets / fund balances (see page 17 of the instructions ) . 1,507,273,131 1,471,745,350 Analysis of Changes in Net Assets or Fund Balances 1 Total net assets or fund balances at beginning of year-Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year's return) . 1 1,456,292,346 2 Enter amount from Part I, line 27a . 2 -35,692,351 3 Other increases not included in line 2 (itemize) 111 - 3 4 Add lines 1, 2, and 3 . 4 1,420,599,995 5 Decreases not included in line 2 (itemize) Oil 9!^ 5 6,772,823 6 Total net assets or fund balances at end of year (line 4 minus line 5)-Part II, column (b), line 30 . 6 1,413,827,172 Form 990-PF (2010) Form 990-PF (2010) Page 3 Ca ital Gains and Losses for Tax on Investment Income (b) How acquired (a) List and describe the kind(s) of property sold (e g , real estate, (c) Date acquired (d) Date sold P-Purchase 2-story brick warehouse, or common stock, 200 shs M LC Co , day, , day, ) D-Donation (mo yr ) (mo yr ) la PUBLICLY TRADED SECURITIES P b NON-PUBLICLY TRADED SECURITIES P c MBS PAYDOWN OR UP P d GAINS ON CLASS ACTIONS P e ALTERNATIVE INVESTMENTS (f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (e) Gross sales price (or allowable) plus expense of sale (e) plus (f) minus (g) a 989,155,319 986,475,216 2,680,103 b 18,746,073 24,739,627 -5,993,554 c 23,656,448 24,757,417 -1,100,969 d 985,820 j 1 985,820 e 16,154 1 1 24,416,154 Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (I) Gains (Col (h) gain minus (j) Adjusted basis (k) Excess of col (i) col (k), but not less than -0-) or (i) F M V as of 12/31/69 as of 12/31/69 over col (j), if any Losses (from col (h)) a 2,680,103 b -5,993,554 c -1,100,969 d 985,820 e 24,416,154 If gain, also enter in Part I, line 7 2 Capital gain net income or (net capital loss) If (loss), enter -0- in Part I, line 7 2 20,987,554 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 pages 13 and 17 of the instructions) If (loss), enter -0- in Part I, line 8 3 Qualification Under Section 4940 ( e) for Reduced Tax on Net Investment Income (For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income ) If section 4940( d)(2) applies, leave this part blank Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? fl Yes F No If "Yes, " the foundation does not qualify under section 4940 ( e) Do not complete this part 1 Enter the appropriate amount in each column for each year, see page 18 of the instructions before making any entries (d) Base period years Calendar Distribution ratio Adjusted qualifying distributions Net value of noncharitable-use assets year (or tax year beginning in) (col (b) divided by col (c)) 2009 74,424,900 1,308,864,523 0 056862 2008 78,163,394 1,668,800,460 0 046838 2007 91,218,358 1,828,430,711 0 049889 2006 50,787,667 1,654,482,056 0 030697 2005 77,891,749 1,516,647,045 0 051358 2 Total of line 1, column (d) .