Form990-PF
Click to see list of attachments

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2012
Open to Public Inspection
For calendar year 2012, or tax year beginning 01-01-2012 , and ending 12-31-2012
Name of foundation
James Lee Sorenson Family Foundation
 

Number and street (or P.O. box number if mail is not delivered to street address)299 S Main Street   Room/suite
City or town, state, and ZIP code
Salt Lake City, UT84111
A Employer identification number

45-6794415
B Telephone number (see instructions)

(801) 490-1000
C bullet
G Check all that apply:

D 1. bullet
2. bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$41,744,480J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 39,410,580
2 Check bullet
3 Interest on savings and temporary cash investments 22,222 22,222  
4 Dividends and interest from securities...... 423,805 423,805  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,386,807
b Gross sales price for all assets on line 6a 41,319,003
7 Capital gain net income (from Part IV, line 2)... 36,814,878
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)....... Click to see attachment -11,188 -11,188  
12 Total. Add lines 1 through 11........ 41,232,226 37,249,717  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 12,804     12,804
b Accounting fees (attach schedule)....... Click to see attachment 4,914      
c Other professional fees (attach schedule).... Click to see attachment 54,445 54,445    
17 Interest...............        
18 Taxes (attach schedule) (see instructions) Click to see attachment 742,273 7,906    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 172      
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 814,608 62,351   12,804
25 Contributions, gifts, grants paid........ 0 0
26 Total expenses and disbursements. Add lines 24 and 25 814,608 62,351   12,804
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 40,417,618
b Net investment income (if negative, enter -0-) 37,187,366
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2012)
Form 990-PF (2012)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............   325 325
2 Savings and temporary cash investments..........   6,455,610 6,455,610
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
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) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)   Click to see attachment1,484,003 1,484,003
b Investments—corporate stock (attach schedule)........   Click to see attachment14,210,625 14,210,625
c Investments—corporate bonds (attach schedule)........   Click to see attachment3,693,194 3,693,194
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........   Click to see attachment14,007,135 14,007,135
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)   Click to see attachment1,893,588 Click to see attachment1,893,588
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I)   41,744,480 41,744,480
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds   41,744,480
30 Total net assets or fund balances (see page 17 of the
instructions)....................   41,744,480
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 0 41,744,480
Part III 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  
2 Enter amount from Part I, line 27a..................... 2 40,417,618
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 1,326,862
4 Add lines 1, 2, and 3.......................... 4 41,744,480
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 41,744,480
Form 990-PF (2012)
Form 990-PF (2012)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1a
b
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 36,814,878
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 instructions). If (loss), enter -0-
in Part I, line 8 . . . . . . . . . . . . . . . . 		Bracket 3  
Part V
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?
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.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2011      
2010      
2009      
2008      
2007      
2 Total of line 1, column (d) ...................... 2  
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3  
4 Enter the net value of noncharitable-use assets for 2012 from Part X, line 5..... 4  
5 Multiply line 4 by line 3....................... 5  
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6  
7 Add lines 5 and 6......................... 7  
8 Enter qualifying distributions from Part XII, line 4.............. 8  
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions.
Form 990-PF (2012)
Form 990-PF (2012)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 743,747
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2............................ 3 743,747
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 743,747
6 Credits/Payments:
a 2012 estimated tax payments and 2011 overpayment credited to 2012 6a 777,000
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 777,000
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 3
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 33,250
11 Enter the amount of line 10 to be: Credited to 2013 estimated taxBullet33,250 Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
No
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletUT
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2012 or the taxable year beginning in 2012 (see instructions for Part XIV)?
    If “Yes,” complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.Click to see attachment
    10
    Yes
     
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletPaul Ludlow Telephone no.bullet (801) 490-1013
    Located atbullet299 S Main Street Suite 2200Salt Lake CityUT ZIP+4bullet84111
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2012, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2012?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2012, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2012?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see instructions.) ..............
    2b
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?.........................
    b
    If “Yes,” did it have excess business holdings in 2012 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2012.)....................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2012?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see instructions)........
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
    No
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?........................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
    No
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    James Lee Sorenson Trustee
    5.00     		0    
    299 S Main Street Suite 2200
    Salt Lake City,UT84111
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    Merrill Lynch Wealth Management Investment advice 54,445
    101 California Street Ste 2100
    San Francisco,CA94111
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3..........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    16,947,790
    b
    Average of monthly cash balances.......................
    1b
    20,302,074
    c
    Fair market value of all other assets (see instructions)................
    1c
    5,458,209
    d
    Total (add lines 1a, b, and c).........................
    1d
    42,708,073
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    42,708,073
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see
    instructions) .............................
    4
    640,621
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    42,067,452
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,103,373
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    2,103,373
    2a
    Tax on investment income for 2012 from Part VI, line 5......
    2a
    743,747
    b
    Income tax for 2012. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    743,747
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,359,626
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    1,359,626
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    1,359,626
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    12,804
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    12,804
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    12,804
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 8
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2011     		(c)
    2011     		(d)
    2012
    1 Distributable amount for 2012 from Part XI, line 7 1,359,626
    2 Undistributed income, if any, as of the end of 2012:
    a Enter amount for 2011 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2012:
    a From 2007.......  
    b From 2008.......  
    c From 2009.......  
    d From 2010.......  
    e From 2011.......  
    fTotal of lines 3a through e.........  
    4Qualifying distributions for 2012 from Part
    XII, line 4: bullet$ 12,804
    a Applied to 2011, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions)......     		 
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2012 distributable amount..... 12,804
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2012.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2011. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2012. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2013 ..........     		1,346,822
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see
    instructions) .............     		 
    8Excess distributions carryover from 2007 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2013.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2008....  
    b Excess from 2009....  
    c Excess from 2010....  
    d Excess from 2011....  
    e Excess from 2012....  
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 9
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2012, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2012 (b) 2011 (c) 2010 (d) 2009
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    James Lee Sorenson
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail of the person to whom applications should be addressed:
    James Lee Sorenson Family Foundatio
    299 S Main Street Suite 2200
    Salt Lake City,UT84111
    (801) 490-1000
    Ann@sorensoncompanies.com
    bThe form in which applications should be submitted and information and materials they should include:
    Applicants may obtain a grant application by contacting the Foundation at the above address. Information required by the Foundation for consideration of a grant includes a description of the applicant's organization and mission, a specific request for funds, background information on directors and key personel and other information as outlined on the application.
    cAny submission deadlines:
    2 months prior to each calendar quarter end
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Awards will only be made for permitted charitable purposes consistent with the purpose and mission of the foundation.
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    Total .................................bullet 3a  
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 22,222  
    4 Dividends and interest from securities....     14 423,805  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8Gain or (loss) from sales of assets other than inventory     18 1,386,807  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aPassthrough Income     18 -11,188  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   1,821,646  
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,821,646
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2012)
    Additional Data


    Software ID: 12000229
    Software Version: 2012v2.0


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    OMB No. 1545-0047
    2012
    Name of the organization
    James Lee Sorenson Family Foundation
     
    Employer identification number

    45-6794415
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......................... Arrow Bullet   $    
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990; or check the box on line H of its
    Form 990-EZ or on Part I, line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2012)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2012)
    Page 2
    Name of organization
    James Lee Sorenson Family Foundation
          		Employer identification number

    45-6794415
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    James Lee Sorenson    
    299 S Main Street Suite 2200
       
    Salt Lake City, UT   84111

    		$39,410,580


    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  


    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  


    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  


    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  


    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  


    (Complete Part II if there is a noncash contribution.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2012)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2012)
    Page 3
    Name of organization
    James Lee Sorenson Family Foundation
          		Employer identification number

    45-6794415
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    		     
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    1
    		 1,100,000 sh Mediconnect Global Inc common stock. No goods or services were provided by the foundati   $39,410,480 2012-03-02
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2012)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2012)
    Page 4
    Name of organization
    James Lee Sorenson Family Foundation
          		Employer identification number

    45-6794415
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    that total more than $1,000 for the year. Complete columns (a) through (e) and the following line entry.
    For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
    contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2012)

    Additional Data


    Software ID: 12000229
    Software Version: 2012v2.0

    TY 2012 AccountingFeesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting & tax fees 4,914 0 0 0

    TY 2012 ContractorCompensationExpln
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Contractor Explanation
    Merrill Lynch Wealth Management The foundation paid fees to Merrill Lynch for investment advisory services. The fees were determined at arms-length and represent at fair market value for the services rendered.

    TY 2012 InvestmentsCorpBondsSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Name of Bond End of Year Book Value End of Year Fair Market Value
    Watson Pharmaceuticals 257,222 257,222
    Hewlett-Packard Co 302,020 302,020
    Waste Management Inc 287,084 287,084
    Kinder Morgan Energy Partners 295,291 295,291
    Goldman Sachs Group 297,720 297,720
    Newmont Mining Corp 349,693 349,693
    JPMorgan Chase & Co 311,415 311,415
    Boeing Co 315,815 315,815
    AT&T Inc 303,359 303,359
    General Electric 359,072 359,072
    Wachovia Corp 305,500 305,500
    Comcast Corp 309,003 309,003

    TY 2012 InvestmentsCorpStockSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Name of Stock End of Year Book Value End of Year Fair Market Value
    Wells Fargo & Co 125,900 125,900
    Suntrust Banks Inc 122,350 122,350
    State Street Corp 127,050 127,050
    Protective Life Corp 127,955 127,955
    Maiden Holdings LTD 130,050 130,050
    JP Morgan Chase & Co 125,700 125,700
    First Republic Bank 122,929 122,929
    Coresite Realty Corp 63,025 63,025
    Capital One Financial 124,300 124,300
    BB&T Corporation 127,400 127,400
    Wynn Resorts Ltd 190,108 190,108
    Waters Corp 138,085 138,085
    Suncor Energy Inc 181,489 181,489
    Starwood Hotels 205,177 205,177
    Stanley Black & Decker 184,555 184,555
    Scripps Networks 163,740 163,740
    Roberthalf Intl Inc 209,726 209,726
    Qualcomm Inc 194,363 194,363
    Mastercard Inc 60,919 60,919
    Hospira Inc 138,487 138,487
    Express Scripts Holding Co 132,624 132,624
    Expeditors Intl Wash Inc 135,933 135,933
    EMC Corporation 135,330 135,330
    Affiliated Managers Group 127,026 127,026
    Accenture PLC 131,138 131,138
    Ansys Inc 54,411 54,411
    Wells Fargo & Co 149,538 149,538
    Wal-Mart Stores Inc 84,401 84,401
    Verizon Communications 86,367 86,367
    Reynolds American Inc 72,710 72,710
    Philip Morris Intl Inc 69,923 69,923
    Pfizer Inc 149,874 149,874
    Paychex Inc 103,719 103,719
    Newmarket Corp 113,533 113,533
    Microsoft Corp 93,537 93,537
    Meadwestvaco Corp 87,770 87,770
    Lowe's Companies Inc 130,074 130,074
    Lorillard Inc 149,338 149,338
    Kinder Morgan Managment 147,298 147,298
    Johnson And Jonhnson 54,257 54,257
    Intl Business Machines 90,412 90,412
    Intel Corp 124,132 124,132
    Hershey Company 94,392 94,392
    Hatteras Financial Corp 139,854 139,854
    Hasbro Inc 143,205 143,205
    Kinder Morgan Mgmt    
    Federated Investors B 109,444 109,444
    Duke Energy Corp 73,498 73,498
    Dominion Res Inc 150,634 150,634
    ConocoPhillips 64,659 64,659
    Coca Cola 89,610 89,610
    Cisco Systems Inc 124,617 124,617
    Cinn Fincial Corp 109,296 109,296
    Chevron Corp 109,330 109,330
    Bristol-Myers Squibb 144,895 144,895
    Blackrock Inc 119,685 119,685
    Berkshire Hathaway Inc 94,634 94,634
    Altria Group 144,247 144,247
    Albemarle Corp 162,630 162,630
    Morgan Stanley Cap VIII 28,499 28,499
    Montpelier RE Holdings 41,674 41,674
    Aegon NV 1,539 1,539
    3M Company 76,601 76,601
    Wal-Mart Stores Inc 150,106 150,106
    W R Berkley Corp 88,689 88,689
    Unitedhealth Group Inc 124,752 124,752
    Thermo Fisher Scientific 74,942 74,942
    Praxair Inc 128,604 128,604
    Pepsico Inc 112,910 112,910
    Oracle Corp 148,274 148,274
    Noble Energy Inc 188,219 188,219
    News Corp B 15,744 15,744
    News Corp 127,550 127,550
    Nestle SA 114,048 114,048
    Morgan Stanley 84,128 84,128
    Mondelez International 108,176 108,176
    Microsoft Corp 165,600 165,600
    Mcdonalds Corp 22,053 22,053
    Loews Corp 127,344 127,344
    Liberty Global Inc A 18,888 18,888
    Liberty Global Inc 141,000 141,000
    Google Inc 116,718 116,718
    Goldman Sachs Group Inc 127,560 127,560
    Fidelity National Info Svcs 74,842 74,842
    Ecolab Inc 150,990 150,990
    Comcast Corp 150,864 150,864
    Coca Cola 155,875 155,875
    Berkshire Hathaway Inc 266,858 266,858
    Apache Corp 125,600 125,600
    AON PLC 184,903 184,903
    Altera Corp 88,554 88,554
    Yum Brands Inc 14,143 14,143
    Williams Companies 23,344 23,344
    Wells Fargo & Co 22,490 22,490
    W W Grainger Inc 23,880 23,880
    VMWare Inc 23,253 23,253
    Visa Inc 90,190 90,190
    Unitedhealth Group Inc 33,195 33,195
    United Technology Corp 39,693 39,693
    Union Pacific Corp 86,873 86,873
    Ulta Salon Cosmetics 23,189 23,189
    Teradata Corp 23,704 23,704
    Starbucks Corp 40,062 40,062
    Sirius XM Radio Inc 22,580 22,580
    SBA Communcations Corp 32,083 32,083
    Salesforce.com Inc 57,154 57,154
    Ross Stores Inc 23,691 23,691
    Range Resources Corp 23,247 23,247
    Ralph Lauren Corp 32,832 32,832
    Qualcomm Inc 57,839 57,839
    Priceline.com Inc 58,937 58,937
    Precision Castparts 45,650 45,650
    Monsanto Co 66,823 66,823
    Michael Kors Holdings LTD 23,984 23,984
    MCGraw Hill Companies 22,743 22,743
    Mastercard Inc 35,372 35,372
    Lenmar Corp 17,788 17,788
    Lauder Estee Cosmetics Inc 22,986 22,986
    Las Vegas Sands Corp 23,726 23,726
    Intuitive Surgical Inc 31,874 31,874
    Intuit Inc 26,169 26,169
    Intl Business Machines 66,085 66,085
    Home Depot Inc 31,605 31,605
    HCA Holdings 22,145 22,145
    Google Inc 65,079 65,079
    Glaxosmithkline PLC 22,170 22,170
    Gilead Sciences Inc 29,821 29,821
    Franklin Res Inc 35,825 35,825
    FMC Techs Inc 16,704 16,704
    Flour Corp 31,191 31,191
    Facebook Inc 38,572 38,572
    Express Scripts Holding Co 33,534 33,534
    Edwards Lifesciences Corp 21,190 21,190
    Ecolab Inc 40,480 40,480
    Ebay Inc 39,472 39,472
    EMC Corporation Mass 23,225 23,225
    Dollar General Corp 26,630 26,630
    Danaher Corp 69,372 69,372
    CVS Caremark Corp 35,199 35,199
    Covidien PLC 30,198 30,198
    Costco Wholesale Corp 24,781 24,781
    Concho Resources Inc 6,848 6,848
    Coach Inc 22,093 22,093
    Cerner Corp 30,771 30,771
    Celgene Corp 39,000 39,000
    CBS Corp 26,064 26,064
    Cabot Oil & Gas Corp 18,951 18,951
    Borg Warner Inc 27,144 27,144
    Blackrock Inc 26,045 26,045
    Biogen Idec Inc 39,374 39,374
    Apple Inc 116,014 116,014
    American Tower Reit Inc 34,849 34,849
    Amazon.com Inc 52,432 52,432
    Allergan Inc 17,887 17,887
    World Fuel Services Corp 39,606 39,606
    White Mtns Insurance Group 33,990 33,990
    Valueclick Inc 47,943 47,943
    Tredegar Corp Virginia 28,180 28,180
    Tenet Healthcare Corp 40,620 40,620
    Tejon Ranch Co 27,069 27,069
    Sturm Ruger & Co 19,931 19,931
    Service Corp Intl 51,097 51,097
    Ritchie Brothers Auctioneers 27,387 27,387
    Pricesmart Inc 59,898 59,898
    Old Dominion Freight Lines 65,029 65,029
    Nu Skin Enterprises 40,236 40,236
    Newmarket Corp 72,367 72,367
    Montpelier RE Holdings 40,622 40,622
    Micrel Inc 28,994 28,994
    MBIA Inc 28,841 28,841
    Matson Inc 41,184 41,184
    Martin Marietta Materials 22,627 22,627
    Kraton Performance Polymers 29,581 29,581
    Kaman Corp 35,918 35,918
    Hatteras Financial Corp 25,055 25,055
    Kinder Morgan Managment Corp    
    First India Realty Trust Inc 26,315 26,315
    Energizer Holdings Inc 25,273 25,273
    Eaton Vance Corp 69,305 69,305
    Corrections Corp of America 54,978 54,978
    Columbia Sportswear Co 26,572 26,572
    Cabelas Inc 59,535 59,535
    Atwood Oceanics Inc 57,465 57,465
    American Eagle Outfitters 27,236 27,236
    Alleghany Corp 21,130 21,130
    Alexander & Baldwin Inc 31,541 31,541
    Albemarle Corp 59,385 59,385
    Advent Software Inc 22,084 22,084

    TY 2012 InvestmentsGovtObligationsSch
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    US Government Securities - End of Year Book Value:

    776,991
    US Government Securities - End of Year Fair Market Value:

    776,991
    State & Local Government Securities - End of Year Book Value:


    707,012
    State & Local Government Securities - End of Year Fair Market Value:


    707,012


    TY 2012 InvestmentsOtherSchedule2
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SLP IV Technology Fund FMV 50,000 50,000
    ML Winton Futures Access FMV 336,458 336,458
    OZOFII Access LTD FMV 1,051,368 1,051,368
    Carlson Double Black Diamon FMV 788,395 788,395
    Brevan Howward Multi-Strategy FMV 556,766 556,766
    Ascend Access LTD FMV 556,792 556,792
    PIMCO Commodity Real Return FMV 768,666 768,666
    First Eagle Gold Fund FMV 132,732 132,732
    Eaton Vance Floating Rate Fund FMV 180,937 180,937
    Ridgeworth High Income Fund FMV 425,378 425,378
    Templeton Global Bond Fund FMV 1,202,761 1,202,761
    PIMCO Fixed Income Shares M F FMV 323,450 323,450
    PIMCO Fixed Income Shares C F FMV 317,264 317,264
    Oppenheimer Developing Markets FMV 1,003,536 1,003,536
    Matthews Pacific Tiger FMV 533,347 533,347
    Matthews Asian Growth and Income Fund FMV 537,651 537,651
    First Eagle Global FMV 1,708,159 1,708,159
    IVA Worldwide Fund FMV 2,029,869 2,029,869
    Eaton Vance Capital SMID Cap Fund FMV 1,503,606 1,503,606

    TY 2012 LegalFeesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Legal fees 12,804 0 0 12,804


    TY 2012 OtherAssetsSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    Pending securities trades   2,838 2,838
    Mediconnect escrow   1,890,750 1,890,750


    TY 2012 OtherExpensesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Bank charges 172      


    TY 2012 OtherIncomeSchedule2
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Passthrough Income -11,188 -11,188  


    TY 2012 OtherProfessionalFeesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment advisory fees 54,445 54,445 0 0


    TY 2012 SubstantialContributorsSch
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Name Address
    James Lee Sorenson 299 S Main Street Suite 2200
    Salt Lake City,UT84111


    TY 2012 TaxesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN: 45-6794415
    Software ID:12000229
    Software Version:2012v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Foreign taxes 273 7,906    
    Federal taxes 742,000