JAMES LEE SORENSON FAMILY FOUNDATION: Form 990PF, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- JAMES LEE SORENSON FAMILY FOUNDATION (EIN 45-6794415)
- Tax period
- 2017-01-01 to 2017-12-31
- Filed
- 2018-11-15
- IRS object ID
- 201833199349105628
- Schema version
- 2017v2.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Accounting Fees Schedule
- All Oth Prog Rltd Investments Sch
- Contractor Compensation Expln
- General Explanation Attachment
- Investments Corp Bonds Schedule
- Investments Corp Stock Schedule
- Investments Govt Obligations Sch
- Investments Other Schedule2
- Other Expenses Schedule
- Other Income Schedule2
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2018-11-15T19:03:56-08:00 | ReturnTs |
| Tax Period End | 2017-12-31 | TaxPeriodEndDt |
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2017-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 456794415 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | James Lee Sorenson Family Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | JAME | BusinessNameControlTxt |
| Phone | 8014901013 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 299 S Main Street | AddressLine1Txt |
| City | Salt Lake City | CityNm |
| State Abbreviation | UT | StateAbbreviationCd |
| ZIP | 84111 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | James Lee Sorenson | PersonNm |
| Person Title | Trustee | PersonTitleTxt |
| Signature | 2018-11-16 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $53,025,946 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Rev And Expnss | $3,461 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $3,461 | InterestOnSavNetInvstIncmAmt |
| Dividends Rev And Expnss | $1,375,490 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $1,356,558 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $910,367 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $5,654,919 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $938,930 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | $218,986 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $1,116 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | $2,508,304 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $2,300,065 | TotalNetInvstIncmAmt |
| Accounting Fees Rev And Expnss | $32,375 | AccountingFeesRevAndExpnssAmt |
| Other Prof Fees Rev And Expnss | $174,879 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $174,879 | OtherProfFeesNetInvstIncmAmt |
| Taxes Rev And Expnss | $10,314 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $8,814 | TaxesNetInvstIncmAmt |
| Other Expenses Rev And Expnss | $185 | OtherExpensesRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $217,753 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $183,693 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $1,496,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $1,496,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $1,713,753 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $183,693 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $1,496,000 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $794,551 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $2,116,372 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $2,598 | CashBOYAmt |
| Cash EOY | $1,542 | CashEOYAmt |
| Cash EOYFMV | $1,542 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $1,568,991 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $1,343,369 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $1,343,369 | SavAndTempCashInvstEOYFMVAmt |
| US Government Obligations BOY | $773,354 | USGovernmentObligationsBOYAmt |
| US Government Obligations EOY | $733,488 | USGovernmentObligationsEOYAmt |
| US Govt Obligations EOYFMV | $779,247 | USGovtObligationsEOYFMVAmt |
| Corporate Stock BOY | $32,809,476 | CorporateStockBOYAmt |
| Corporate Stock EOY | $39,264,748 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $39,264,748 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $3,635,887 | CorporateBondsBOYAmt |
| Corporate Bonds EOY | $3,385,806 | CorporateBondsEOYAmt |
| Corporate Bonds EOYFMV | $3,385,806 | CorporateBondsEOYFMVAmt |
| Other Investments BOY | $5,813,308 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $4,794,262 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $4,819,135 | OtherInvestmentsEOYFMVAmt |
| Other Assets BOY | $2,827,429 | OtherAssetsBOYAmt |
| Other Assets EOY | $3,432,099 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $3,432,099 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $47,431,043 | TotalAssetsBOYAmt |
| Total Assets EOY | $52,955,314 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $53,025,946 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
| Retained Earning BOY | $47,431,043 | RetainedEarningBOYAmt |
| Retained Earning EOY | $52,955,314 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $47,431,043 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $52,955,314 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $47,431,043 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $52,955,314 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $47,431,043 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $794,551 | ExcessRevenueOverExpensesAmt |
| Other Increases | $4,729,720 | OtherIncreasesAmt |
| Subtotal | $52,955,314 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $52,955,314 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (3 entries)
| PropertyPropertyDesc | How AcquiredHowAcquiredCd | Gross Sales PriceGrossSalesPriceAmt | Cost Or Other BasisCostOrOtherBasisAmt | Gain Or LossGainOrLossAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt | AcquiredAcquiredDt | SoldSoldDt |
|---|---|---|---|---|---|---|---|
| Publicly traded securities | P | $4,460,090 | $3,615,989 | $844,101 | $844,101 | ||
| ML Winton Futures Access LLC | P | $484,990 | $425,000 | $59,990 | $59,990 | 2012-05-01 | 2017-09-30 |
| Ascend Access LTD | P | $709,839 | $675,000 | $34,839 | $34,839 | 2012-05-01 | 2017-06-30 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $938,930 | CapitalGainNetIncomeAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | false | LiableSection4942TaxInd |
| Adjusted Qlfy Distri Yr1 | $2,302,660 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $43,969,928 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.05237 | DistributionYr1Rt |
| Adjusted Qlfy Distri Yr2 | $2,390,906 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $45,924,663 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 0.05206 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $2,335,370 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $46,802,340 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.04990 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $1,366,455 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $43,128,151 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.03168 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $12,804 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $1,359,626 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.00942 | DistributionYr5Rt |
| Total Distribution | 0.195430 | TotalDistributionRt |
| Average Distribution | 0.039086 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $46,851,717 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $1,831,246 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $21,164 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $1,852,410 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $2,086,998 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | Yes (X) | DomesticOrgMeetingSect4940eInd |
| Investment Income Excise Tax | $21,164 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $21,164 | SubtotalAmt |
| Tax Based On Investment Income | $21,164 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $28,074 | EstimatedPlusOvpmtIncmTxAmt |
| Total Payments And Credits | $28,074 | TotalPaymentsAndCreditsAmt |
| Overpayment | $6,910 | OverpaymentAmt |
| Applied To ES Tax | $6,910 | AppliedToESTaxAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | false | Form990TFiledInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | UT | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | N/A | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jim Sorenson | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8014901013 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 299 S Main Street Suite 2200 | AddressLine1Txt |
| City | Salt Lake City | CityNm |
| State Abbreviation | UT | StateAbbreviationCd |
| ZIP | 84111 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (true) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Undistr Incm Sect4942a2 Not App | false | UndistrIncmSect4942a2NotAppInd |
| Business Holdings | Yes (true) | BusinessHoldingsInd |
| Excess Business Holdings | false | ExcessBusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Transactions Fail To Qlfy As Exc | false | TransactionsFailToQlfyAsExcInd |
| Maintained Expenditure Rspns | Yes (true) | MaintainedExpenditureRspnsInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Proceeds Or Net Income | false | ProceedsOrNetIncomeInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | James Lee Sorenson | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 299 S Main Street Suite 2200 | AddressLine1Txt |
| City | Salt Lake City | CityNm |
| State Abbreviation | UT | StateAbbreviationCd |
| ZIP | 84111 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Title | Trustee | TitleTxt |
| Average Hrs Per Wk Devoted To Pos | 5.00 | AverageHrsPerWkDevotedToPosRt |
| Compensation | $0 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Merrill Lynch Wealth Management | |||||
| 101 California Street Ste 2100 | San Francisco | CA | 94111 | Investment advice | $88,024 |
| Sepio Capital | |||||
| 50 California Street Suite 3525 | San Francisco | CA | 94111 | Investment advice | $86,855 |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | VilCap Investments: Investing in positive social and/or environmental impact companies for such purposes as clean energy, increasing access to education and healthcare, and improving livelihoods of underprivileged populations. | Description1Txt |
| Expenses1 | $149,831 | Expenses1Amt |
| Description2 | Waste Ventures: Adressing waste collection problems including reducing greenhouse gases and landfill items. Increasing income and job opportunities for underprivileged populations | Description2Txt |
| Expenses2 | $140,000 | Expenses2Amt |
| All Other Program Rltd Invst Tot | $301,167 | AllOtherProgramRltdInvstTotAmt |
| Total | $590,998 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $44,886,365 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $2,174,410 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $504,420 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $47,565,195 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Adjusted Total FMV Of Unused Ast | $47,565,195 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $713,478 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $46,851,717 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $2,342,586 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $2,342,586 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $21,164 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $21,164 | TotalTaxAmt |
| Distributable Before Adj | $2,321,422 | DistributableBeforeAdjAmt |
| Recoveries Qualfied Distri | $5,258 | RecoveriesQualfiedDistriAmt |
| Distributable Before Ded | $2,326,680 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $2,326,680 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $1,496,000 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $590,998 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $2,086,998 | QualifyingDistributionsAmt |
| Pct Sect4940e Org Net Invst Incm | $21,164 | PctSect4940eOrgNetInvstIncmAmt |
| Adjusted Qualifying Distri | $2,065,834 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $2,326,680 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $2,031,787 | UndistributedIncomePYAmt |
| Qualifying Distributions | $2,086,998 | QualifyingDistributionsAmt |
| Applied To Year1 | $2,031,787 | AppliedToYear1Amt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $55,211 | AppliedToCurrentYearAmt |
| Undistributed Income CY | $2,271,469 | UndistributedIncomeCYAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | James Lee Sorenson | ContributingManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (6 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| The Church of Jesus Christ of LDS | ||||||
| 50 E North Temple | Salt Lake City | UT | 84150 | PC | General support | $1,300,000 |
| Junior Achievement of Utah | ||||||
| 515 South 700 East 1F | Salt Lake City | UT | 84102 | PC | Silent auction sponsorship | $3,500 |
| University of Utah | ||||||
| 540 Arapeen Drive Suite 250 | Salt Lake City | UT | 84108 | PC | Innovation Summit; Impact Investing Center | $175,000 |
| Choice Humanitarian | ||||||
| 7879 South 1530 West Suite 200 | Salt Lake City | UT | 84088 | PC | Gala event sponsorship | $7,500 |
| Pioneer Theatre Company | ||||||
| 300 S 1400 E Room 325 | Salt Lake City | UT | 84112 | PC | Pioneer Theater event sponsorship | $5,000 |
| Surefire | ||||||
| 8011 Campion Dr | Los Angeles | CA | 90045 | PC | Utah Wonder Women leadership conference | $5,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $1,496,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $3,461 | ExclusionAmt |
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $1,375,490 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $910,367 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Income from passthroughs | Desc |
| Exclusion | 14 | ExclusionCd |
| Exclusion | $218,986 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $2,508,304 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $2,508,304 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | Yes (true) | RelationshipsNonchrtblEOInd |
Relationship Schedule Detail RelationshipScheduleDetail
Organization Business Name OrganizationBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Friends of Art Works | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Type | 501(c)(4) | OrganizationTypeDesc |
| Relationship Description | The trustee for James Lee Sorenson Family Foundation also serves as a Director for Friends of Art Works for Kids | RelationshipDescriptionTxt |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Accounting | CategoryTxt |
| Amt | $32,375 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
All Oth Prog Rltd Investments Sch AllOthProgRltdInvestmentsSch
All Other Program Related Invst AllOtherProgramRelatedInvstGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| Elevar Equity: Developing essential products and services for disconnected communities in Latin America, Asia and other jurisdictions. | $134,500 |
| Owl Ventures: Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities. | $25,000 |
| Liberty & Justice: Creating jobs and increasing access to healthcare in Liberia | $50,000 |
| Capria: Creation of early-stage impact funds in emerging markets for the purpose of improving lives of low-income individuals. | $25,000 |
| University of Utah - UVF II: Educating students in social impact entrepreneurship and promoting community development in low and moderate-income households. | $66,667 |
Contractor Compensation Expln ContractorCompensationExpln
Contractor Comp Expln ContractorCompExplnGrp (2 entries)
| ExplanationExplanationTxt |
|---|
| Merrill Lynch Wealth Management |
| The foundation paid fees to Merrill Lynch for investment advisory services. The fees were determined at arms length and represent fair market value for the services rendered. |
| Sepio Capital |
| The foundation paid fees to Sepio Capital for investment advisory services. The fees were determined at arms length and represent fair market value for the services rendered. |
General Explanation Attachment GeneralExplanationAttachment
General Explanation GeneralExplanationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Form 5471 | FormAndLineReferenceDesc |
| Medium Explanation | Information needed to complete Form 5471 Scheudles G, H, I, and J is not available at the time of filing. The foreign organization is experiencing heavy losses and the taxpayer belives there would be no income to report. A request has been made to the foreign organization and the information will be made available upon request. | MediumExplanationTxt |
Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule
Investments Corporate Bonds InvestmentsCorporateBondsGrp (15 entries)
| BondBondNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| General Electric | $151,789 | $151,789 |
| AT&T Inc | $253,393 | $253,393 |
| Boeing Co | $261,498 | $261,498 |
| JPMorgan Chase & Co | $263,200 | $263,200 |
| Newmont Mining Corp | $312,615 | $312,615 |
| Goldman Sachs Group | $270,305 | $270,305 |
| Kinder Morgan Energy Partners | $266,457 | $266,457 |
| Waste Management Inc | $265,480 | $265,480 |
| Hewlett-Packard Co | $318,873 | $318,873 |
| Apple Inc GLB Feb 2023 | $202,710 | $202,710 |
| Enterprise Products Feb 2024 | $104,200 | $104,200 |
| Enterprise Products Feb 2022 | $104,641 | $104,641 |
| Morgan Stanley GLB JUL 2025 | $209,410 | $209,410 |
| Allergan Finance LLL Note 10/22 | $250,770 | $250,770 |
| Wells Fargo & Co MTN 2/18 | $150,465 | $150,465 |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Stock | Publicly traded stocks (see stmt) | StockNm |
| EOY Book Value | $39,264,748 | EOYBookValueAmt |
| EOYFMV | $39,264,748 | EOYFMVAmt |
Investments Govt Obligations Sch InvestmentsGovtObligationsSch
| Field | Value | IRS element (for citing) |
|---|---|---|
| State Local Sec Book Vl EOY | $733,488 | StateLocalSecBookVlEOYAmt |
| State Local Sec EOYFMV | $779,247 | StateLocalSecEOYFMVAmt |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (9 entries)
| Category Or ItemCategoryOrItemTxt | Listed At Cost Or FMVListedAtCostOrFMVCd | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| Carlson Double Black Diamond | FMV | $1,081,145 | $1,081,145 |
| OZOFII Access LTD | FMV | $1,585,370 | $1,585,370 |
| SLP IV Technology Fund | FMV | $507,817 | $507,817 |
| CSP III Distressed Opp Fund | FMV | $166,319 | $166,319 |
| Czech II Senior Loan Trust | FMV | $321,449 | $321,449 |
| Blackstone Strategic Partners LP | FMV | $246,410 | $246,410 |
| LS Real Estate Recovery IV Trust | FMV | $124,051 | $124,051 |
| Czech III Senior Loan Trust | FMV | $195,231 | $195,231 |
| Turner-Agassi Educational Facilities | FMV | $86,923 | $86,923 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt |
|---|---|
| Bank charges | $174 |
| Postage | $11 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Income from passthroughs | Desc |
| Revenue And Expenses Per Books | $218,986 | RevenueAndExpensesPerBooksAmt |
| Net Investment Income | $1,116 | NetInvestmentIncomeAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Investment advisory fees | CategoryTxt |
| Amt | $174,879 | Amt |
| Net Investment Income | $174,879 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|
| Federal taxes | $1,500 | |
| Foreign taxes | $8,814 | $8,814 |