valley-rock-foundation-settlement-review
Valley Rock Foundation Settlement Review (2025)
Independent analysis of public records concerning the Valley Rock Foundation, Celeste White, and Robert White, based solely on documented filings and official sources.
Permanent DOI: https://doi.org/10.5281/zenodo.18644075
Summary Article: https://medium.com/@independent990researchers/millions-in-charitable-assets-one-settlement-the-public-records-819ff20fa9df
Independent Research Archive — Public Records Analysis Series
Citation
Independent 990 Researchers (2026) Valley Rock Foundation Settlement Review: Public Records Analysis. Zenodo. https://doi.org/10.5281/zenodo.18644075
The materials compile IRS Forms 990, the published settlement agreement, California Secretary of State filings, property records, and publicly available reporting to assess reported asset transfers, valuation changes, governance structures, and settlement-authorized distributions.
Full Documentation
- Main Narrative – Valley Rock Foundation Settlement Review (PDF)
- Exhibit 1 – Timetable of Public Records (PDF)
- Exhibit 2 – Veritas Refuge Valuation Illustrative Model (PDF)
- Exhibit 3 – Donor-Advised Fund Reconstruction Model (PDF)
- Exhibit 4 – Main Portfolio Benchmark Comparison (PDF)
- Exhibit 5 – Table of Public Record References (PDF)
This repository is presented as an archive of public records and analytical exhibits for informational and public accountability purposes.
Entities Referenced in Public Records
The documents reference public filings and records involving:
- Valley Rock Foundation
- Celeste White
- Robert White
- Gayle Beebe
- Westmont College
- Lux Forum
- St. Helena Community Church
- Calistoga Community Church
- National Christian Foundation
- California Attorney General (Charitable Trusts Section)
All references are derived from publicly available sources cited within the exhibits.
Repository Contents
Main Narrative
- Valley-Rock-Foundation-Settlement-Review.pdf
A review of publicly available records relating to the settlement, reported asset values, and governance changes.
Supporting Exhibits
-
Exhibit-1-Timetable-of-Public-Records.pdf
Chronological summary of publicly documented events and filings. -
Exhibit-2-Veritas-Refuge-Valuation-Illustrative-Model.pdf
Illustrative benchmark comparison of reported Veritas Refuge LLC asset values using publicly available housing index data. -
Exhibit-3-Donor-Advised-Fund-Reconstruction-Model.pdf
Reconstruction model of publicly reported donor-advised fund activity using stated assumptions. -
Exhibit-4-Main-Portfolio-Benchmark-Comparison.pdf
Benchmark comparison of reported portfolio values using broad market index proxies under alternative timing assumptions. -
Exhibit-5-Table-of-Public-Record-References.pdf
Consolidated table summarizing key topics, public record sources, and reported variances.
Each exhibit describes its modeling assumptions, limitations, and data sources.
Scope and Limitations
This review relies exclusively on publicly available records, including:
- IRS Forms 990 (2013–2024)
- The 2025 settlement agreement
- California Secretary of State filings
- Recorded property records
- Federal Housing Finance Agency (FHFA) House Price Index reference data
- Public nonprofit disclosures and contemporaneous reporting
Certain financial structures referenced in the settlement, including donor-advised funds, do not provide donor account–level public transparency. Where necessary, exhibits present illustrative modeling assumptions based on available data and clearly state their limitations.
These analyses are not formal appraisals, audits, or performance determinations. They are presented for contextual review of publicly reported information.
Purpose of Archive
The purpose of this repository is to preserve and organize publicly available records and related analytical exhibits concerning the Valley Rock Foundation settlement in a transparent and accessible format.
No confidential or non-public materials are included.