2022-08-10T10:35:06-05:00 2021-10-29 420714325 RSM US LLP 227 WEST FIRST STREET SUITE 700 DULUTH MN 55802 990PF 2021-01-01 264539000 BRUNO AND EVELYNE BETTI FOUNDATION BETT 4068551716 3840 PALISADES PARK DR BILLINGS MT 59102 STAN HILL PRESIDENT 4068551716 2022-08-09 1 STAN HILL 999009999 JULIE BOYER P01278549 2187275025 2022-08-09 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z X X X 0 X 8000 71984 11888 370157 5762793 370157 1200 0 451341 382045 237500 23750 213750 8845 0 8845 18003 0 18003 43269 21635 21634 4100 820 3280 13436 1185 10661 9130 0 9130 2430 0 2430 8785 0 8785 345498 47390 296518 5973000 5973000 6318498 47390 6269518 -5867157 334655 66943 244993 5349965 0 0 5661901 0 0 0 0 X 0 0 0 0 5661901 0 5661901 0 5661901 0 5661901 -5867157 241307 36051 36051 0 PUBLICLY TRADED SECURITIES 5762793 5392636 370157 370157 370157 4652 0 4652 0 4652 0 0 0 0 0 88 4740 0 0 0 0 0 0 0 0 0 0 0 1 1 1 WA 1 0 0 0 0 1 N/A STANLEY HILL 4068551716 3840 PALISADES PARK DR BILLINGS MT 59102 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 STANLEY HILL 3840 PALISADES PARK DR BILLINGS MT 59102 PRESIDENT 35.00 98500 0 0 THOMAS REINHARDT 8533 SKOOKUMCHUCK RD SE TENINO WA 98589 VICE PRESIDENT 5.00 68000 0 0 ALEXANDER MACKIE PO BOX 607 WINTHROP WA 98862 SECRETARY, TREASURER 5.00 71000 0 0 NONE 0 NONE 0 0 2904658 179412 0 3084070 0 0 3084070 46261 3037809 125674 125674 4652 4652 121022 0 121022 0 121022 6269518 0 6269518 121022 0 0 17490 13261 22649 3137621 11464907 14655928 6269518 0 0 0 121022 6148496 0 0 20804424 0 0 0 0 0 0 17490 20786934 13261 22649 3137621 11464907 6148496 X BOYS & GIRLS CLUBS OF SNOHOMISH COUNTY 8223 BROADWAY 100 EVERETT WA 98203 NONE PC BREWSTER WA BOYS AND GIRLS CLUB TOURNAMENT 10000 CENTRAL MONTANA FOUNDATION PO BOX 334 LEWISTOWN MT 59457 NONE PC PETROLEUM COUNTY COMMUNITY CENTER ENDOWMENT 1410000 COMMUNITY FOUNDATION OF NORTH CENTRAL WASHINGTON 9 S WENATCHEE AVE WENATCHEE WA 98801 NONE PC OKANOGAN FIRE DISTRICT 6 EQUIPMENT & TOWER 500000 COMMUNITY FOUNDATION OF NORTH CENTRAL WASHINGTON 9 S WENATCHEE AVE WENATCHEE WA 98801 NONE PC CREATE A FUND DESIGNATED FOR THE BENEFIT OF THE BREWSTER BOYS AND GIRLS CLUB 105000 METHOW VALLEY RIDING UNLIMITED 9 S WENATCHEE AVE WENATCHEE WA 98801 NONE PC UNRESTRICTED GRANT FOR PROGRAM SUPPORT 5000 COMMUNITY FOUNDATION OF SOUTH PUDGET SOUND 212 UNION AVE SE 102 OLYMPIA WA 98501 NONE PC ESTABLISH A NON-ENDOWED FIELD OF INTEREST FUND TO SUPPORT CHARITABLE PROGRAMS AND SERVICES THAT A) PROVIDE OPPORTUNITIES TYPICALLY NOT OTHERWISE AVAILABLE PARTICULARLY IN SMALLER COMMUNTITIES, (B) WHICH PROMOTE A TECHNICAL OR PROFESSIONAL SKILL NOT OTHERWISE GENERALLY AVAILABLE IN THE COMMUNITY TO YOUNG MEN AND WOMEN LEADING TO A LIFETIME CAREER, (C) WHICH ENABLE TO HANDICAPPED OR UNDERPRIVLEGED TO ACHIEVE LIFE GOALS AND (D) WHICH PROMOTE THE ABILITY OF WORKING INDIVIDUALS TO BECOME MORE PRODUCTIVE MEMBERS OF SOCIETY. 200000 SOUTH PUGET SOUND COMMUNITY COLLEGE FOUNDATION 2011 MOTTMAN RD SW OLYMPIA WA 98512 NONE PC CREATE AN ENDOWED FUND TO SUPPORT NURSING SCHOLARSHIPS 605000 ST MARTINS UNIVERSITY FOUNDATION 5000 ABBEY WAY SE LACEY WA 98503 NONE PC CREATE THE BRUNO AND EVELYNE BETTI FOUNDATION LEGACY NURSING SCHOLARSHIP ENDOWMENT 605000 ST JOHN'S LUTHERAN MINISTRIES FOUNDATION 3940 RIMROCK RD BILLINGS MT 59101 NONE PC NURSING HOME DIVISION SUPPORT 500000 TENINO BOYS & GIRLS CLUB 301 OLD HWY 99 SE TENINO WA 98589 NONE PC SUPPORT PROGRAMS DESIGNED TO EMPOWER KIDS AND TEENS TO EXCEL IN SCHOOL, BECOME GOOD COMMUNITY MEMBERS AND LEAD HEALTHY, PRODUCTIVE LIVES. 13000 CENTRAL MONTANA FOUNDATION PO BOX 334 LEWISTOWN MT 59457 NONE PC PETROLEUM COUNTY COMMUNITY CENTER YOUTH PROGRAM 1600000 CENTRAL MONTANA FOUNDATION PO BOX 334 LEWISTOWN MT 59457 NONE PC WINNETT SWIMMING POOL FUND 20000 COMMUNITY FOUNDATION OF NORTH CENTRAL WASHINGTON 9 S WENATCHEE AVE WENATCHEE WA 98801 NONE PC ESTABLISH A NON-ENDOWED FIELD OF INTEREST FUND TO SUPPORT CHARITABLE PROGRAMS AND SERVICES 400000 5973000 0 14 71984 18 370157 IRS TAX REFUND 01 1200 0 443341 0 443341 0 0 0 0 0 0 0 0 0 0 X X 1 ESTATE OF EVELYNE BETTI 3840 PALISADES PARK DR BILLINGS MT 59102 8000 X ACCOUNTING 43269 21635 21634 CENTRAL MONTANA FOUNDATION PO BOX 334 LEWISTOWN MT 59457 $1,400,000 TO THE CENTRAL MONTANA FOUNDATION TO SUPPORT THE PETROLEUM COUNTY COMMUNITY CENTER. 1400000 COMMUNITY FOUNDATION OF SOUTH PUGET SOUND 212 UNION AVE SE 102 OLYMPIA WA 98501 $200,000 TO THE COMMUNITY FOUNDATION OF SOUTH PUGET SOUND TO ESTABLISH A NON-ENDOWED FIELD OF INTEREST FUND TO SUPPORT CHARITABLE PROGRAMS AND SERVICES THAT A) PROVIDE OPPORTUNITIES TYPICALLY NOT OTHERWISE AVAILABLE PARTICULARLY IN SMALLER COMMUNITIES, (B) WHICH PROMOTE A TECHNICAL OR PROFESSIONAL SKILL NOT OTHERWISE GENERALLY AVAILABLE IN THE COMMUNITY TO YOUNG MEN AND WOMEN LEADING TO A LIFETIME CAREER, ( C) WHICH ENABLE THE HANDICAPPED OR UNDERPRIVILEGED TO ACHIEVE LIFE GOALS AND (D) WHICH PROMOTE THE ABILITY OF WORKING INDIVIDUALS TO BECOME MORE PRODUCTIVE MEMBERS OF SOCIETY. 200000 COMMUNITY FOUNDATION OF NORTH CENTRAL WASHINGTON 9 S WENATCHEE AVE WENATCHEE WA 98801 1. $100,000 TO THE COMMUNITY FOUNDATION OFNORTH CENTRAL WASHINGTON TO CREATE A DESIGNATED FUND FOR THE BENEFIT OF THE BREWSTER BOYS AND GIRLS CLUB;2. $400,000 TO THE COMMUNITY FOUNDATION OF NORTH CENTRAL WASHINGTON TO CREATE A FIELD OF INTEREST FUND. DISTRIBUTIONS SHALL BE MADE ANNUALLY TO ONE OR MORE PUBLIC CHARITIES IN THE FOLLOWING FIELD(S) OF INTEREST: (A) PROVIDE OPPORTUNITIES TYPICALLY NOT OTHERWISE AVAILABLE PARTICULARLY IN SMALLER COMMUNITIES, (B) WHICH PROMOTE A TECHNICAL OR PROFESSIONAL SKILL NOT OTHERWISE GENERALLY AVAILABLE IN THE COMMUNITY TO YOUNG MEN AND WOMEN LEADING TO A LIFETIME CAREER, (C) WHICH ENABLE THE HANDICAPPED OR UNDERPRIVILEGED TO ACHIEVE LIFE GOALS AND ( D) WHICH PROMOTE THE ABILITY OF WORKING INDIVIDUALS TO BECOME MORE PRODUCTIVE MEMBERS OF SOCIETY. 500000 SOUTH PUGET SOUND COMMUNITY COLLEGE FOUNDATION 2011 MOTTMAN RD SW OLYMPIA WA 98512 $500,000 TO THE SOUTH PUGET SOUND COMMUNITY COLLEGE FOUNDATION TO CREATE AN ENDOWED FUND TO SUPPORT NURSING SCHOLARSHIPS; $105,000 SPLIT OF THE REMAINING NET ASSETS. 605000 ST MARTINS UNIVERSITY FOUNDATION 5000 ABBEY WAY SE LACEY WA 98503 $500,000 TO ST MARTINS UNIVERSITY FOUNDATION TO CREATE THE BRUNO AND EVELYNE BETTI FOUNDATION LEGACY NURSING SCHOLARSHIP ENDOWMENT; ; $105,000 SPLIT OF THE REMAINING NET ASSETS 605000 A RESOLUTION OF DISSOLUTION WAS APPROVED BY THE FOUNDATION'S BOARD OF DIRECTORS ON OCTOBER 19, 2021. THE PLAN OF DISTRIBUTION WAS APPROVED BY THE OFFICE OF THE ATTORNEY GENERAL OF THE STATE OF WASHINGTON ON SEPTEMBER 20, 2021. ACCORDING TO THE PLAN OF DISSOLUTION, ALL ASSETS OF THE FOUNDATION SHALL BE DISTRIBUTED AS FOLLOWS: A. ALL LIABILITIES AND OBLIGATIONS OF THE FOUNDATION SHALL BE PAID, SATISFIED AND DISCHARGED, OR ADEQUATE PROVISION SHALL BE MADE THEREFOR (APPROXIMATELY $136,000 IN EXPENSES); B. THE BALANCE OF THE ASSETS WILL BE DISTRIBUTED AS FOLLOWS: 1. $1,400,000 TO THE CENTRAL MONTANA FOUNDATION TO SUPPORT THE PETROLEUM COUNTY COMMUNITY CENTER TO ESTABLISH A NON-ENDOWED FIELD OF INTEREST FUND TO SUPPORT CHARITABLE PROGRAMS AND SERVICES THAT A) PROVIDE OPPORTUNITIES TYPICALLY NOT OTHERWISE AVAILABLE PARTICULARLY IN SMALLER COMMUNITIES, (B) WHICH PROMOTE A TECHNICAL OR PROFESSIONAL SKILL NOT OTHERWISE GENERALLY AVAILABLE IN THE COMMUNITY TO YOUNG MEN AND WOMEN LEADING TO A LIFETIME CAREER, ( C) WHICH ENABLE THE HANDICAPPED OR UNDERPRIVILEGED TO ACHIEVE LIFE GOALS AND (D) WHICH PROMOTE THE ABILITY OF WORKING INDIVIDUALS TO BECOME MORE PRODUCTIVE MEMBERS OF SOCIETY;; 2. $200,000 TO THE COMMUNITY FOUNDATION OF SOUTH PUGET SOUND TO ESTABLISH A NON-ENDOWED FIELD OF INTEREST FUND TO SUPPORT CHARITABLE PROGRAMS AND SERVICES THAT A) PROVIDE OPPORTUNITIES TYPICALLY NOT OTHERWISE AVAILABLE PARTICULARLY IN SMALLER COMMUNITIES, (B) WHICH PROMOTE A TECHNICAL OR PROFESSIONAL SKILL NOT OTHERWISE GENERALLY AVAILABLE IN THE COMMUNITY TO YOUNG MEN AND WOMEN LEADING TO A LIFETIME CAREER, ( C) WHICH ENABLE THE HANDICAPPED OR UNDERPRIVILEGED TO ACHIEVE LIFE GOALS AND (D) WHICH PROMOTE THE ABILITY OF WORKING INDIVIDUALS TO BECOME MORE PRODUCTIVE MEMBERS OF SOCIETY; 3. $100,000 TO THE COMMUNITY FOUNDATION OF NORTH CENTRAL WASHINGTON TO CREATE A DESIGNATED FUND FOR THE BENEFIT OF THE BREWSTER BOYS AND GIRLS CLUB; 4. $400,000 TO THE COMMUNITY FOUNDATION OF NORTH CENTRAL WASHINGTON TO CREATE A FIELD OF INTEREST FUND. DISTRIBUTIONS SHALL BE MADE ANNUALLY TO ONE OR MORE PUBLIC CHARITIES IN THE FOLLOWING FIELD(S) OF INTEREST: (A) PROVIDE OPPORTUNITIES TYPICALLY NOT OTHERWISE AVAILABLE PARTICULARLY IN SMALLER COMMUNITIES, (B) WHICH PROMOTE A TECHNICAL OR PROFESSIONAL SKILL NOT OTHERWISE GENERALLY AVAILABLE IN THE COMMUNITY TO YOUNG MEN AND WOMEN LEADING TO A LIFETIME CAREER, (C) WHICH ENABLE THE HANDICAPPED OR UNDERPRIVILEGED TO ACHIEVE LIFE GOALS AND ( D) WHICH PROMOTE THE ABILITY OF WORKING INDIVIDUALS TO BECOME MORE PRODUCTIVE MEMBERS OF SOCIETY; 5. $500,000 TO THE SOUTH PUGET SOUND COMMUNITY COLLEGE FOUNDATION TO CREATE AN ENDOWED FUND TO SUPPORT NURSING SCHOLARSHIPS; 6. $500,000 TO ST MARTINS UNIVERSITY FOUNDATION TO CREATE THE BRUNO AND EVELYNE BETTI FOUNDATION LEGACY NURSING SCHOLARSHIP ENDOWMENT; AND 7. NET ASSETS WILL BE SPLIT EVENLY BETWEEN ST MARTINS UNIVERSITY FOUNDATION AND SOUTH PUGET SOUND COMMUNITY FOUNDATION TO SUPPORT THE NURSING SCHOLARSHIPS. ALL OF THE ABOVE DISTRIBUTIONS WERE MADE, IN ACCORDANCE WITH PLAN OF DISSOLUTION BY NOVEMBER 30, 2021. ACCORDING TO ITEM 7 ABOVE, ST MARTIN'S UNIVERSITY FOUNDATION AND SOUTH PUGET SOUND COMMUNITY FOUNDATION EACH RECEIVED $105,000, AS A SPLIT OF THE REMAINING NET ASSETS. THE FOUNDATION HAS $36,056 OF REMAINING CASH TO PAY THE TAX DUE WITH THE FINAL FORM 990-PF, AS WELL AS ANY ADDITIONAL OUTSTANDING LIABILITIES THAT MAY ARISE. ANY CASH REMAINING AFTER THE SATISFACTION OF ALL OTHER OUTSTANDING LIABILITIES WILL BE PAID OUT AS A FINAL GRANT IN ACCORDANCE WITH THE PLAN OF DISSOLUTION, AS DESCRIBED BELOW. THE PLAN OF DISSOLUTION WAS UPDATED. THE ONLY CHANGE WAS TO THE DISTRIBUTION OF NET ASSETS. ALL SPECIFIC DISTRIBUTIONS WERE MADE AS OUTLINED IN THE ORIGINAL PLAN. WITH RESPECT TO THE NET ASSETS, THE ORIGINAL PLAN IS MODIFIED AS FOLLOWS: - AN ADDITIONAL $10,000 TO THE CENTRAL MONTANA FOUNDATION FOR THE PETROLEUM COUNTY COMMUNITY CENTER (ONE OF THE SPECIFIED DISTRIBUTION RECIPIENTS). - AN ADDITIONAL $5,000 TO THE COMMUNITY FOUNDATION OF NORTH CENTRAL WASHINGTON FOR THE BENEFIT OF THE BREWSTERS BOYS AND GIRLS CLUB (ONE OF THE SPECIFIC DISTRIBUTION RECIPIENTS). - $13,000 TO THE TENINO BOYS AND GIRLS CLUB (A PRIOR RECIPIENT OF FUNDS FROM THE FOUNDATION, BUT NOT SPECIFIED IN THE ORIGINAL PLAN OF DISTRIBUTION). -$5,000 TO METHOW VALLEY RIDING UNLIMITED (A PRIOR RECIPIENT OF FUNDS FROM THE FOUNDATION, BUT NOT SPECIFIED IN THE ORIGINAL PLAN OF DISTRIBUTION). - THE BALANCE ONLY TO THE SOUTH PUGET SOUND COMMUNITY FOUNDATION TO SUPPORT NURSING SCHOLARSHIPS - ONE OF THE TWO NET ASSET RECIPIENTS (NO ASSETS WILL GO TO ST MARTIN UNIVERSITY FOUNDATION). AMONG THE GIFTS OUTSTANDING ARE SEVERAL IN WHICH THE PURPOSE OF THE GIFTS WILL NOT BE COMPLETELY RECOGNIZED AT THE TIME OF CLOSURE. FURTHER THE HOLDERS OF FOUNDATION GRANTS MAY HAVE QUESTIONS ABOUT THE INTENT OR USE OF CERTAIN GIFTS UNDER THEIR CONTROL. TO THIS END, THE BOARD AUTHORIZES AND TASKS INDIVIDUAL MEMBERS OF THE BOARD TO CONTINUE TO WORK IN THEIR INDIVIDUAL CAPACITY TO SEE THAT THE INTENT OF THE FOUNDATION GIFTS IS REALIZED, AND TO ANSWER ANY QUESTIONS WHICH MAY ARISE AND TO USE THEIR BEST JUDGMENT TO ASSURE THAT THE PURPOSES OF THE GIFTS ARE MET THROUGH THE INITIAL FOUR YEARS POST CLOSURE. ALTHOUGH THE FOUNDATION IS TERMINATING ITS GIFT GIVING AND ORGANIZATION IN 2021, ONGOING FACILITY PROJECTS ARE EXPECTED TO LAST AT LEAST THROUGH 2025, AND THE FOUNDATION HAS INITIATED A NUMBER OF ENDOWMENTS DESIGNED TO FOSTER FOUNDATION PURPOSES, MANY OF WHICH ARE IN THEIR INITIAL YEARS OF THE PROGRAM. FOR THIS REASON, THE FOUNDATION HAS A RESPONSIBILITY TO SEE THAT THE INTENT OF THE GIFTS IS APPROPRIATELY CARRIED OUT AND PROVIDE AN ABILITY TO RESPOND TO ONGOING QUESTIONS FROM ENDOWMENT FUND MANAGERS AS TO THE PROPRIETY OF SPECIFIC REQUESTS AND ASSURE PROJECT SPECIFIC PROGRAM REVIEWS CONTINUE THROUGH THAT TIME. LEGAL FEES 18003 0 18003 CASH HELD TO PAY FOUNDATION TAXES AND REMAINING EXPENSES 36051 MISC EXPENSE 5118 0 5118 BANK FEES 225 0 225 INSURANCE 3242 0 3242 POSTAGE & DELIVERY 200 0 200 IRS TAX REFUND 1200 1200 BASIS ADJUSTMENT FOR TRANSFER 241307 CONSULTING FEES 4100 820 3280 THE BRUNO AND EVELYNE BETTI FOUNDATION WAS DISSOLVED OCTOBER 29, 2021. THE FOUNDATION PAPER FILED ITS FINAL, SHORT YEAR 2021 FORM 990-PF DECEMBER 28, 2021, WELL IN ADVANCE OF THE ORIGINAL DUE DATE OF MARCH 15, 2022. BECAUSE THE 2021 FORM 990-PF WAS NOT YET AVAILABLE IN DECEMBER 2021 THE FOUNDATION PAPER FILED ITS 2021 FINAL FORM 990-PF ON A 2020 FORM. THIS FORM WAS NOT ALLOWED TO BE E-FILED AND AS STATED WAS MAILED DECEMBER 28, 2021. DUE TO THE IRS BACKLOG IN PROCESSING PAPER RETURNS, THE FINAL RETURN WAS NOT PROCESSED UNTIL AFTER THE 2021 FORM WAS AVAILALBE AND ABLE TO BE E-FILED. THE FOUNDATION DID NOT RECEIVE NOTICE FROM THE IRS THAT IT HAD NOT ACCEPTED THE 2021 PAPER FILED, FINAL FORM 990-PF UNTIL JULY 20, 2022. THE FOUNDATION PRESIDENT, WHO RECEIVES THE MAIL WAS OUT OF TOWN FOR A FUNERAL AND UPON RETURNING AND RECEIVING THE LETTER HE CONTACTED THE CPA TO RESOLVE THE ISSUE IMMEDIATELY. BASED ON THE REASONSABLE CAUSE WE RESPECTFULLY REQUEST NO PENALTIES AND INTEREST FOR LATE FILING BE ASSESSED. PAYROLL TAX EXPENSE 11845 1185 10661 IRS 990PF EXCISE TAX PAYMENTS 1398 0 0 STATE OF WA TAX PAYMENTS 193 0 0