2024-11-06T12:51:56-06:00 2023-12-31 910189318 MOSS ADAMS LLP 3121 W MARCH LN STE 200 STOCKTON CA 952192367 990 2023-01-01 946064808 HENRY J KAISER FAMILY FOUNDATION HENR 6508549400 185 BERRY STREET 2000 SAN FRANCISCO CA 94107 ELIZABETH A CAIN CFO 6508549400 2024-11-05 1 0 TRACY S PAGLIA P00366884 2099556100 2024-11-05 2023 2024-10-15 13:58:12Z KFF DREW ALTMAN 185 BERRY STREET 2000 SAN FRANCISCO CA 94107 158403147 0 X WWW.KFF.ORG X 1948 CA TO FILL THE NEED FOR TRUSTED, INDEPENDENT INFORMATION ON NATIONAL HEALTH ISSUES. 11 10 237 5 -2266696 11551 20716641 25637774 0 0 50011933 59166300 -3699 861 70724875 84804935 630796 740895 0 0 41569760 46045305 0 0 997892 28706235 29280776 70906791 76066976 -181916 8737959 859649669 829022336 145694349 152810459 713955320 676211877 X SEE SCHEDULE O.KFF FILLS THE NEED FOR TRUSTED, INDEPENDENT INFORMATION ON NATIONAL HEALTH ISSUES THROUGH POLICY ANALYSIS, POLLING & SURVEY RESEARCH, AND JOURNALISM. THE HALLMARK OF KFF IS OUR FOCUS ON HOW POLICY AFFECTS PEOPLE. WE BELIEVE IN THE IMPORTANCE OF EVIDENCE, INFORMATION AND FACTS. WE PROVIDE A VOICE FOR PEOPLE WHO DON'T ALWAYS HAVE A SEAT AT THE TABLE. WE NEVER TRY TO ACHIEVE ANY PARTICULAR POLICY, OR TAKE POSITIONS OR ADVOCATE FOR POLICIES OR PROGRAMS. WE WANT TO ENSURE THAT DEBATE IS INFORMED BY CREDIBLE AND TIMELY INFORMATION - WHETHER IT'S A POLICY ANALYSIS, A POLL, OR A KFF HEALTH NEWS STORY OR INVESTIGATION. 0 0 22547219 0 0 POLICY - THROUGH OUR POLICY WORK WE PRODUCE INFORMATION, FACTS AND ANALYSIS IN A VARIETY OF KEY NATIONAL HEALTH POLICY ARENAS. KFF POLICY EXPERTS WORK MAINLY ON ANALYZING HOW PEOPLE FARE IN THE LARGEST PUBLIC HEALTH INSURANCE PROGRAMS - INCLUDING MEDICARE, MEDICAID AND THE AFFORDABLE CARE ACT, AND IN PRIVATE HEALTH INSURANCE. IN ADDITION, WE HAVE SPECIAL EXPERTISE IN UNDERSTANDING RACIAL AND ETHNIC EQUITY ISSUES IN HEALTH CARE, HIV, WOMEN'S HEALTH POLICY AND THE NATION'S ROLE IN GLOBAL HEALTH POLICY. 23090899 0 0 JOURNALISM - KFF HEALTH NEWS, OUR CREDENTIALED, NONPROFIT, EDITORIALLY-INDEPENDENT NEWS SERVICE, IS COMMITTED TO IN-DEPTH COVERAGE OF HEALTH CARE POLICY AND POLITICS. KFF HEALTH NEWS PROVIDES THE HIGHEST QUALITY NEWS COVERAGE OF HEALTH POLICY ISSUES AND DEVELOPMENTS AT THE FEDERAL AND STATE LEVELS, IN THE MARKETPLACE AND HOW THEY AFFECT PEOPLE. KFF HEALTH NEWS SERVES AS THE PREMIER SOURCE OF HEALTH POLICY JOURNALISM DISTRIBUTING OUR CONTENT THROUGH DOZENS OF PARTNER NEWS ORGANIZATIONS WHO RUN KFF HEALTH NEWS STORIES, AMONG THEM THE WASHINGTON POST, NPR, NEW YORK TIMES, USA TODAY, MCCLATCHY NEWSPAPERS, CHICAGO TRIBUNE, PHILADELPHIA INQUIRER AND A BROAD RANGE OF BROADCAST PARTNERS. 8206566 0 0 PUBLIC OPINION & SURVEY RESEARCH PROGRAM CONDUCTS AND ANALYZES ORIGINAL RESEARCH ON AMERICANS' ATTITUDES, KNOWLEDGE AND EXPERIENCES WITH THE HEALTH CARE SYSTEM WITH THE GOAL OF AMPLIFYING THE PUBLIC'S VOICE IN MAJOR NATIONAL DEBATES, PARTICULARLY THE VOICE OF OFTEN-DISENFRANCHISED GROUPS SUCH AS THE LOW INCOME AND UNINSURED. KFF CONDUCTS POLLS ITSELF AND IN PARTNERSHIP WITH MAJOR NEWS ORGANIZATIONS. 7344988 740895 0 SOCIAL IMPACT MEDIA - WE DEVELOP AND HELP RUN LARGE-SCALE, PUBLIC HEALTH INFORMATION CAMPAIGNS IN THE U.S. BY WORKING WITH MAJOR MEDIA, OTHER CORPORATE ALLIES, HEALTH DEPARTMENTS, NATIONAL LEADERSHIP AND COMMUNITY ORGANIZATIONS. THESE LARGE-SCALE, MULTI-FACETED PUBLIC INFORMATION PARTNERSHIPS FOCUS MOSTLY AT REACHING PEOPLE MOST AT RISK OF HIV AND CURRENTLY FOCUS ON THE SOUTH UNDER THE UMBRELLA NAME GREATER THAN AIDS. THE HEALTH MISINFORMATION AND TRUST INITIATIVE - IN LATE FALL 2022, KFF BEGAN TO DEVELOP THIS NEW PROGRAM TO IDENTIFY AND ADDRESS MISINFORMATION AND DISINFORMATION IN HEALTH. KFF MAKES NO PROGRAMMATIC GRANTS. GRANTS CONSIST OF TRUSTEE SPECIAL PROJECT GRANTS AND MATCHING GIFTS, WHICH QUALIFY AS GRANTS, AND ARE LISTED ON SCHEDULE I. 7344988 740895 0 61189672 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 198 0 1 237 1 1 1 1 MP 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AR CA FL GA HI IL KS KY MA MD MI MN MS NC NH NJ NM NY OR PA RI SC TN UT VA WI WV X ELIZABETH A CAIN 6508549400 185 BERRY STREET STE 2000 SAN FRANCISCO CA 94107 DREW ALTMAN TRUSTEE, PRESIDENT & CEO 37.50 X X 986848 0 104287 ELEANOR HSU CO-CHIEF INVESTMENT OFFICER 37.50 X 778403 0 90637 MOLLYANN BRODIE EXECUTIVE VICE PRESIDENT & COO 37.50 X 512011 0 105106 LAWRENCE LEVITT EXECUTIVE VP FOR HEALTH POLICY 37.50 X 515316 0 87833 DEAN DUCHAK CHIEF INVESTMENT OFFICER 37.50 X 453065 0 96019 DAVID ROUSSEAU PUBLISHER KFF HEALTH NEWS 37.50 X 452755 0 88849 ANN DEFABIO - SR VP CHIEF COMMUNICATIONS OFFICER 37.50 X 381786 0 66696 ELIZABETH CAIN CHIEF FINANCIAL OFFICER 37.50 X 370664 0 74900 ELISABETH ROSENTHAL SR CONTRIB EDITOR KFF HEALTH NEWS 37.50 X 369487 0 72287 OLYMPIA SNOWE TRUSTEE, CHAIR 4.00 X X 34500 0 0 SUSAN SIEGEL TRUSTEE 4.00 X 32500 0 0 KATHLEEN SEBELIUS TRUSTEE 4.00 X 31000 0 0 KEVIN MERIDA TRUSTEE 4.00 X 23500 0 0 REED V TUCKSON TRUSTEE 4.00 X 22000 0 0 JAMES E CANALES TRUSTEE, VICE-CHAIR 4.00 X X 0 0 0 FREDERICK P CERISE TRUSTEE 4.00 X 0 0 0 MARCELLA NUNEZ-SMITH TRUSTEE 4.00 X 0 0 0 SOLEDAD O'BRIEN TRUSTEE 4.00 X 0 0 0 FRED TERRELL TRUSTEE 4.00 X 0 0 0 4963835 0 786614 126 0 1 0 AUS MARKETING RESEARCH SYSTEMS INC 155 GAITHER DR STE A MOUNT LAUREL NJ 08054 SURVEY & POLLING RESEARCH 4053944 GEORGE WEINER DBA WHOLE WHALE 195 MONTAGUE ST BROOKLYN NY 11201 ONLINE MARKETING 1883163 CIVIC NEWS COMPANY 450 7TH AVE 32ND FLOOR NEW YORK NY 10123 JOURNALISM 1573228 DAVIS RESEARCH LLC 26610 AGOURA RD STE 240 CALABASAS CA 91302 SURVEY RESEARCH 626740 ALLEY INTERACTIVE LLC 228 PARK AVE S 85467 NEW YORK NY 10003 WEBSITE DEVELOPMENT & DESIGN 581210 31 1969405 23668369 2465621 25637774 2284328 2284328 65846241 64633943 52772776 20825436 13073465 43808507 56881972 -2266696 59148668 CLASS ACTION SETTLEMENTS 900099 861 861 861 84804935 0 -2266696 61433857 X 740895 740895 3055662 1909777 1116342 29543 28420367 22458384 5501263 460720 4899880 3871990 948458 79432 7567486 5786788 1660020 120678 2101910 1660974 406862 34074 337436 176387 161049 326361 326361 728111 728111 10158958 10024481 134477 1392908 1392908 1022702 694727 278776 49199 1895568 1648308 237590 9670 4281461 3578819 632715 69927 871491 564307 230943 76241 849143 272726 570305 6112 5049661 4315706 672359 61596 2111615 1862229 249386 204599 173565 31034 FOUNDATION MEMBERSHIPS 27965 21965 6000 STAFF MEMBERSHIPS 21311 18237 2374 700 STAFF TRAINING 19217 16499 2718 UNRELATED BUS INC TAX -14400 -14400 -3331 -3331 76066976 61189672 13879412 997892 11600267 13762535 16019245 22798288 113861 262500 639200 2117165 57337594 28420773 30733206 28916821 66031525 63948656 721539519 678309457 12972846 18906914 859649669 829022336 8265519 8108725 131949 28487 137296881 144673247 145694349 152810459 X 688758763 646182715 25196557 30029162 713955320 676211877 859649669 829022336 X 8737959 -44829043 -1652359 X 0 1 X 1 0 X 11522346 12461575 28524626 20716641 25637774 98862962 11522346 12461575 28524626 20716641 25637774 98862962 46147030 52715932 1255665 1541112 1215561 1350577 2284328 7647243 114032 1726934 468459 10268 2319693 674713 72981 272912 881 861 1022348 109852246 0.47990 0.51440 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: CLASS ACTION LEGAL SETTLEMENTS - 2022 AMOUNT: $ 881. 2023 AMOUNT: $ 861. INSURANCE PROCEEDS AWARDS CLASS ACTION LEGAL SETTLEMENTS - 2019 AMOUNT: $ 674,713. REIMBURSEMENT OF CONSTRUCTION COSTS CLASS ACTION LEGAL SETTLEMENTS AWARDS - 2020 AMOUNT: $ 72,981. INVESTMENT EXPENSE RECOVERY AWARDS CLASS ACTION LEGAL SETTLEMENTS - 2021 AMOUNT: $ 272,912. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7463063 7463063 34368897 17651284 16717613 8400788 4617676 3783112 6975672 6151813 823859 129174 129174 28916821 INVESTMENTS EQUITY & FIXED INCOME 101088032 F INVESTMENTS HEDGE FUNDS 140692726 F INVESTMENTS PRIVATE EQUITY 381318421 F INVESTMENTS REAL ASSETS 49596413 F INVESTMENT IN DARRIN CAPITAL 4771446 C RECEIVABLE FOR UNSETTLED INVESTMENT TRANSACTIONS 842419 C 678309457 BOND PAYABLE 100000000 POSTRETIREMENT LIABILITY 27095767 OPERATING LEASE LIABILITIES 17534140 ACCOUNTS PAYABLE UNSETTLED INVESTMENT 43340 144673247 X PART X, LINE 2: KFF ADOPTED FASB ASC TOPIC 740, INCOME TAXES, IN 2007. AS OF DECEMBER 31, 2023, KFF ANALYZED THE INVENTORY OF TAX POSITIONS TAKEN WITH RESPECT TO ALL APPLICABLE INCOME TAX ISSUES FOR ALL OPEN TAX YEARS (IN EACH RESPECTIVE JURISDICTION), INCLUDING DECEMBER 31, 2023 AND 2022, AND CONCLUDED THAT NO RESERVE FOR UNCERTAIN TAX POSITIONS WAS REQUIRED. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 185745000 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 2214000 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 21801000 SUB-SAHARAN AFRICA 1 1 INVESTMENTS 61853000 NORTH AMERICA (CANADA & MEXICO) 0 0 INVESTMENTS 1 1 0 0 1 1 271613000 0 271613000 1 0 1 1 1 0 1 AIDS SUPPORT GROUP OF CAPE COD INC 96 BRADFORD STREET PROVINCETOWN MA 02657 042908722 501(C)(3) 15000 0 GENERAL SUPPORT APOLLO THEATER FOUNDATION INC 253 W 125TH STREET NEW YORK NY 10027 133630066 501(C)(3) 25000 0 GENERAL SUPPORT ASIAN PACIFIC FUND 345 CALIFORNIA STREET SUITE 700 SAN FRANCISCO CA 94104 943201522 501(C)(3) 10000 0 GENERAL SUPPORT AYUDANDO LATINOS A SONAR 636 PURISSIMA STREET HALF MOON BAY CA 94019 462464722 501(C)(3) 21250 0 GENERAL SUPPORT BREAKTIME UNITED INC 170 PORTLAND STREET BOSTON MA 02114 842301372 501(C)(3) 10000 0 GENERAL SUPPORT COMMUNITY SERVINGS INC 179 AMORY STREET JAMAICA PLAIN MA 02130 223154028 501(C)(3) 10000 0 GENERAL SUPPORT DUKE UNIVERSITY 324 BLACKWELL STREET BUILDING N DURHAM NC 27701 560532129 501(C)(3) 10000 0 MARGOLIS CENTER FOR PUBLIC HEALTH POLICY HAWAII COMMUNITY FOUNDATION 827 FORT STREET MALL HONOLULU HI 96813 990261283 501(C)(3) 10705 0 GENERAL SUPPORT HELPING OUR WOMEN INC 34 CONWELL STREET PROVINCETOWN MA 02657 043179955 501(C)(3) 15000 0 GENERAL SUPPORT HUI NO KE OLA PONO INC 95 MAHALANI STREET ROOM 21 WAILUKU HI 96793 990287193 501(C)(3) 10250 0 GENERAL SUPPORT JUST FOOD OF DOUGLAS COUNTY KS INC 1000 EAST 11TH STREET LAWRENCE KS 66046 455069131 501(C)(3) 10000 0 GENERAL SUPPORT LINCOLN CENTER FOR THE PERFORMING ARTS INC 70 LINCOLN CENTER PLAZA NEW YORK NY 10023 131847137 501(C)(3) 50000 0 GENERAL SUPPORT LSU SCHOOL OF MEDICINE NEW ORLEANS MEDICAL ALUMNI ASSOCIATION INC 2020 GRAVIER STREET ROOM 523 NEW ORLEANS LA 70112 061715268 501(C)(3) 75000 0 GENERAL SUPPORT MAINEHEALTH 22 BRAMHALL STREET PORTLAND ME 04102 010238552 501(C)(3) 40000 0 GENERAL SUPPORT MASSACHUSETTS INSTITUTE OF TECHNOLOGY 77 MASSACHUSETTS AVENUE ROOM NE49-3142 CAMBRIDGE MA 02139 042103594 501(C)(3) 10000 0 DEPARTMENT OF POLITICAL SCIENCE PEF ISRAEL ENDOWMENT FUNDS INC 630 THIRD AVENUE 15TH FLOOR NEW YORK NY 10017 136104086 501(C)(3) 15000 0 GENERAL SUPPORT POWHERFUL FOUNDATION 134 W 26TH STREET SUITE 1150 NEW YORK NY 10001 452440475 501(C)(3) 93000 0 GENERAL SUPPORT PRESIDENT AND FELLOWS OF HARVARD COLLEGE 1033 MASSACHUSETTS AVENUE 3RD FLOOR CAMBRIDGE MA 02138 042103580 501(C)(3) 5150 0 JOHN F KENNEDY SCHOOL OF GOVERNMENT & GENERAL SUPPORT SOMOS AMIGOS MEDICAL MISSIONS PO BOX 29196 SAN JUAN PR 00929 770553014 501(C)(3) 25000 0 GENERAL SUPPORT STANFORD HOSPITAL AND CLINICS 300 PASTEUR DRIVE H3253 STANFORD CA 94305 946174066 501(C)(3) 15000 0 GENERAL SUPPORT THE ASPEN INSTITUTE INC 2300 N STREET NW SUITE 700 WASHINGTON DC 20037 840399006 501(C)(3) 10000 0 GENERAL SUPPORT THE BOARD OF TRUSTEES OF UNIVERSITY OF ALABAMA 500 UNIVERSITY BOULEVARD TUSCALOOSA AL 35401 636001138 501(C)(3) 80000 0 GENERAL SUPPORT THE MUSEUM OF LANGUAGE ARTS INC 925 13TH STREET NW WASHINGTON DC 20005 464894732 501(C)(3) 10000 0 GENERAL SUPPORT TRUSTEES OF BOSTON UNIVERSITY 881 COMMONWEALTH AVENUE 4TH FLOOR BOSTON MA 02215 042103547 501(C)(3) 9500 0 SCHOOL OF PUBLIC HEALTH & WBUR GENERAL FUND UCLA FOUNDATION 10889 WILSHIRE BOULEVARD 1500 LOS ANGELES CA 90024 952250801 501(C)(3) 16125 0 GENERAL SUPPORT UNIVERSITY OF SOUTHERN CALIFORNIA UNIVERSITY GARDENS UGB203 LOS ANGELES CA 90089 951642394 501(C)(3) 15000 0 SCHAEFFER CENTER FOR HEALTH POLICY & ECONOMICS 26 0 PART I, LINE 2: THE HENRY J. KAISER FAMILY FOUNDATION IS NOT A GRANT-MAKING ORGANIZATION; HOWEVER, IT MAKES DONATIONS TO CERTAIN NON-PROFIT, CERTIFIED TAX-EXEMPT ORGANIZATIONS. THE TAX-EXEMPT STATUS IS VERIFIED BY USING THE IRS'S ONLINE TAX EXEMPT ORGANIZATION SEARCH TOOL. X X 1 1 X X X X X 1 0 0 0 0 0 0 1 0 DREW ALTMAN TRUSTEE, PRESIDENT & CEO 916680 0 20000 0 50168 0 66000 0 38287 0 1091135 0 0 0 ELEANOR HSU CO-CHIEF INVESTMENT OFFICER 308125 0 50000 0 420278 0 34000 0 56637 0 869040 0 0 0 MOLLYANN BRODIE EXECUTIVE VICE PRESIDENT & COO 497850 0 15000 0 -839 0 66000 0 39106 0 617117 0 0 0 LAWRENCE LEVITT EXECUTIVE VP FOR HEALTH POLICY 497850 0 15000 0 2466 0 66000 0 21833 0 603149 0 0 0 DEAN DUCHAK CHIEF INVESTMENT OFFICER 411875 0 50000 0 -8810 0 34000 0 62019 0 549084 0 0 0 DAVID ROUSSEAU PUBLISHER KFF HEALTH NEWS 445625 0 10000 0 -2870 0 34000 0 54849 0 541604 0 0 0 ANN DEFABIO - SR VP CHIEF COMMUNICATIONS OFFICER 375000 0 5000 0 1786 0 34000 0 32696 0 448482 0 0 0 ELIZABETH CAIN CHIEF FINANCIAL OFFICER 365000 0 4000 0 1664 0 34000 0 40900 0 445564 0 0 0 ELISABETH ROSENTHAL SR CONTRIB EDITOR KFF HEALTH NEWS 365000 0 0 0 4487 0 34000 0 38287 0 441774 0 0 0 PART I, LINE 1A THE PRESIDENT/CEO AND TRUSTEES MAY FLY FIRST CLASS. STAFF TRAVELING INTERNATIONALLY OVERSEAS MAY FLY FIRST CLASS IF BUSINESS CLASS IS NOT AVAILABLE. FULL-TIME EMPLOYEES MAY BE REIMBURSED UP TO $450 ANNUALLY FOR SUBSTANTIATED HEALTH CLUB FEES. CERTAIN EMPLOYEES WHO TRAVEL WITH HIGH FREQUENCY MAY BE REIMBURSED FOR AIRLINE CLUB FEES. PART I, LINE 4A E. HSU RECEIVED A SEVERANCE PAYMENT OF $345,833. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III). TERMS OF THE SEVERANCE AGREEMENT ARE SUBJECT TO A CONFIDENTIALITY CLAUSE; DETAILS ARE AVAILABLE TO THE IRS UPON REQUEST. PART I, LINE 7 EMPLOYEES RECEIVE BONUS PAYMENTS FOR THEIR EXCEPTIONAL PERFORMANCE AND SERVICES DURING THE YEAR. SEE PART II, COLUMN B(II) FOR A LIST OF INDIVIDUALS WHO RECEIVED A BONUS IN CALENDAR YEAR 2023. PART II, COLUMN B(III): NEGATIVE NUMBERS REPORTED IN COLUMN B (III) REPRESENT AMOUNTS DEDUCTED FROM GROSS COMPENSATION FOR FLEXIBLE SPENDING ALLOWANCE FOR ELIGIBLE MEDICAL, DEPENDENT CARE AND TRANSIT/PARKING EXPENSES. X 1 2465621 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION B, LINE 11B THE CFO, COO AND CEO REVIEW THE FORM 990. THE FORM 990 IS THEN REVIEWED BY THE CEO AND THE BOARD AUDIT COMMITTEE DURING A COMMITTEE MEETING. IT IS MADE AVAILABLE ELECTRONICALLY TO THE BOARD OF TRUSTEES BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C UNDER KFF'S CODE OF ETHICS, EACH TRUSTEE HAS A DUTY TO DISCLOSE TO THE BOARD THE MATERIAL FACTS OF ANY PROPOSED MATTER IN WHICH THE TRUSTEE HAS AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST PRIOR TO ITS CONSIDERATION BY THE BOARD. THE TRUSTEE HAVING THE CONFLICT IS REQUIRED TO RECUSE HIM OR HERSELF FROM CONSIDERATION OF THE MATTER AND, IF REQUESTED, MUST LEAVE THE ROOM DURING ITS CONSIDERATION. THE DISCLOSURE OF THE CONFLICT AND THE DELIBERATION OF THE TRUSTEES WITHOUT PARTICIPATION BY THE INTERESTED TRUSTEE ARE REFLECTED IN THE MINUTES. FURTHER, TO ASSURE THE EFFECTIVE IMPLEMENTATION OF THESE PROCEDURES, EACH TRUSTEE MUST INFORM THE AUDIT CHAIR AND PRESIDENT'S OFFICE AT LEAST ONCE ANNUALLY OF ALL ORGANIZATIONS WITH WHICH HE OR SHE IS ASSOCIATED AS AN OFFICER, TRUSTEE OR EMPLOYEE. IF A TRUSTEE VIOLATES OR THINKS HE OR SHE HAS VIOLATED ANY PROVISION OF THE CODE OF ETHICS, OR IF A TRUSTEE BELIEVES IT IS POSSIBLE THAT ANOTHER TRUSTEE HAS VIOLATED ANY PROVISION OF THIS CODE, THAT TRUSTEE MUST IMMEDIATELY REPORT THE ACTUAL OR SUSPECTED VIOLATION TO THE CHAIR OR TO THE BOARD AS A WHOLE. THE BOARD HAS AN OBLIGATION TO INVESTIGATE AND ADDRESS PROMPTLY ALL REPORTED VIOLATIONS OF THE CODE OF ETHICS. KFF ALSO HAS A CONFLICT OF INTEREST POLICY THAT REQUIRES EMPLOYEES WHO ARE UNSURE AS TO WHETHER A CERTAIN TRANSACTION, ACTIVITY, OR RELATIONSHIP CONSTITUTES A CONFLICT OF INTEREST TO DISCUSS IT WITH THEIR IMMEDIATE SUPERVISOR OR THE SENIOR VICE PRESIDENT FOR HUMAN RESOURCES FOR CLARIFICATION. ANY EXCEPTIONS TO THIS GUIDELINE MUST BE APPROVED IN WRITING BY THE MOST SENIOR SUPERVISOR IN THE EMPLOYEE'S PROGRAM AREA OR DEPARTMENT AND BY HUMAN RESOURCES. IF AN EMPLOYEE HAS A FINANCIAL OR EMPLOYMENT RELATIONSHIP WITH A HEALTH-CARE INDUSTRY, ADVOCACY OR POLITICAL GROUP, OR ENTITY HAVING A CURRENT OR POTENTIAL BUSINESS RELATIONSHIP WITH KFF, THE EMPLOYEE MUST DISCLOSE THIS FACT IN WRITING TO HER/HIS SENIOR SUPERVISOR AND TO HUMAN RESOURCES. FORM 990, PART VI, SECTION B, LINE 15 AS A RESOURCE FOR ENTERING INTO A NEW EMPLOYMENT CONTRACT OR WHEN SIGNIFICANT COMPENSATION CHANGES ARE BEING CONSIDERED, KFF'S OUTSIDE LEGAL COUNSEL ENGAGES A THIRD PARTY CONSULTING FIRM TO PREPARE A COMPENSATION REPORT ON THE REASONABLENESS OF THE COMPENSATION OF THE PRESIDENT/CEO. THE CONSULTING FIRM REVIEWS COMPARABLE MARKET DATA AND PREPARES AN OPINION LETTER AS TO THE REASONABLENESS OF THE TOTAL REMUNERATION PACKAGE FOR THE PRESIDENT/CEO. THIS REMUNERATION IS APPROVED IN ADVANCE BY A BOARD COMMITTEE COMPOSED ENTIRELY OF INDIVIDUALS WHO HAVE NO CONFLICT OF INTEREST. THIS COMMITTEE OBTAINS AND RELIES UPON THE DATA AS TO COMPARABILITY OF COMPENSATION PROVIDED BY THE CONSULTING FIRM AND LEGAL COUNSEL AND DOCUMENTS ITS DELIBERATION AND DETERMINATION. FOR EXECUTIVE VICE PRESIDENTS, THE PRESIDENT/CEO MAKES THE COMPENSATION DETERMINATION BASED ON COMPARABILITY DATA REPORTS PROVIDED BY A THIRD PARTY CONSULTING FIRM, AS REQUESTED BY THE PRESIDENT/CEO. THESE REPORTS ARE PRESENTED TO THE BOARD OF TRUSTEES BY THE PRESIDENT/CEO. THE PRESIDENT/CEO DETERMINES THE COMPENSATION OF THE CFO ANNUALLY. BOTH THE PRESIDENT/CEO'S AND CFO'S COMPENSATION IS REVIEWED AND APPROVED IN ADVANCE BY THE BOARD OF TRUSTEES ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 KFF'S MOST RECENT AUDIT REPORT IS POSTED ON KFF'S WEBSITE AFTER IT IS ACCEPTED BY THE BOARD OF TRUSTEES. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING & PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 1,420,913. MANAGEMENT AND GENERAL EXPENSES 66,881. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,487,794. FREELANCE REPORTING & EDITORIAL SERVICES: PROGRAM SERVICE EXPENSES 3,685,100. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,685,100. GRAPHIC DESIGN: PROGRAM SERVICE EXPENSES 295,792. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 295,792. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 65,143. MANAGEMENT AND GENERAL EXPENSES 67,596. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 132,739. VIDEO PRODUCTION & PHOTOGRAPHY: PROGRAM SERVICE EXPENSES 120,089. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 120,089. SURVEYS, POLLING, & OTHER RESEARCH SERVICES: PROGRAM SERVICE EXPENSES 4,437,444. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,437,444. FORM 990, PART XI, LINE 9: CHANGE IN POSTRETIREMENT LIABILITY -1,498,308. PLEDGE WRITE OFFS -154,051. KF FINTECH LLC 185 BERRY STREET SUITE 2000 SAN FRANCISCO CA 94107 813015953 INVESTMENT DE 0 26641 HENRY J KAISER FAMILY FOUNDATION KF PS TRUST 185 BERRY STREET SUITE 2000 SAN FRANCISCO CA 94107 816850619 INVESTMENT DE 0 0 KF FINTECH LLC KF PS WALNUT CREEK LLC 185 BERRY STREET SUITE 2000 SAN FRANCISCO CA 94107 INVESTMENT DE 100000 0 KF PS TRUST LIBERTY SHIP LLC 185 BERRY STREET SUITE 2000 SAN FRANCISCO CA 94107 475365134 INVESTMENT DE 720 794990 HENRY J KAISER FAMILY FOUNDATION 57 STARS GLOBAL OPP FUND 4-CO-INVESTMENT SLEEVE LP 1655 FORT MYER DR 920 ARLINGTON VA 22209 981303131 INVESTMENT CJ HENRY J KAISER FAMILY FOUNDATION EXCLUDED 16399 4350223 0 0 0.51740 KAISERFP PRIVATE EQUITY FUND LP 251 ST ASAPHS ROAD SUITE 550W BALA CYNWYD PA 19004 471155650 INVESTMENT DE HENRY J KAISER FAMILY FOUNDATION EXCLUDED 6341535 0 0 0.99000 KFF RPP II LLC 55 2ND STREET SUITE 1900 SAN FRANCISCO CA 94105 471689746 INVESTMENT DE HENRY J KAISER FAMILY FOUNDATION UNRELATED 400546 68792727 0 313056 0 0.95240 KFF RPP LLC 55 2ND STREET SUITE 1900 SAN FRANCISCO CA 94105 452549497 INVESTMENT DE HENRY J KAISER FAMILY FOUNDATION UNRELATED -2669314 23984385 0 -2670972 0 1.00000 KEELE HOLDINGS LP FKA WHLS FUNDING 1 LP 185 BERRY STREET SUITE 2000 SAN FRANCISCO CA 94107 821023014 INVESTMENT DE HENRY J KAISER FAMILY FOUNDATION EXCLUDED -292437 9378731 0 0 0.65160 DARRIN CAPITAL MANAGEMENT 19 BANK STREET CYBER CITY EBENE MP 72201 INVESTMENTS MP HENRY J KAISER FAMILY FOUNDATION C 4823408 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 KFF RPP LLC B 1047735 BANK RECORDS KAISERFP PRIVATE EQUITY FUND LP B 59400 BANK RECORDS