TY 2018 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0052

2018

Open to Public Inspection

For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018

Name of foundation
BETHLEHEM FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)6325 S RAINBOW BLVD STE 300
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
LAS VEGAS, NV89118

A Employer identification number

46-4009968

B Telephone number (see instructions)

(855) 241-6645

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$15,277,413J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)	143
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	410,491		402,291
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		183,904
b	Gross sales price for all assets on line 6a 2,504,106
7	Capital gain net income (from Part IV, line 2)...			183,904
8	Net short-term capital gain.........				0
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).......
12	Total. Add lines 1 through 11........	594,538		586,195
13	Compensation of officers, directors, trustees, etc.	13,500				13,500
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		2,600	0	0	2,600
c	Other professional fees (attach schedule)....		82,935	82,935		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		36,571	9,819		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......	3,324		0	0	3,324
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		22,133	867		21,266
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	161,063		93,621	0	40,690
25	Contributions, gifts, grants paid.......	542,500				542,500
26	Total expenses and disbursements. Add lines 24 and 25	703,563		93,621	0	583,190
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-109,025
b	Net investment income (if negative, enter -0-)			492,574
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2018)

Form 990-PF (2018)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	33,303	24,612	24,612
	2	Savings and temporary cash investments.........	687,813	813,587	813,587
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule) 1,500,000
		Less: allowance for doubtful accounts 0	1,500,000	1,500,000	1,022,000
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	806,610	1,078,637	1,063,500
	b	Investments—corporate stock (attach schedule).......	8,269,376	8,059,311	9,443,090
	c	Investments—corporate bonds (attach schedule).......	2,932,876	2,801,869	2,691,686
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	418,802	226,612	218,938
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	14,648,780	14,504,628	15,277,413
	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 )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........	14,648,780	14,504,628
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see instructions).....	14,648,780	14,504,628
	31	Total liabilities and net assets/fund balances (see instructions).	14,648,780	14,504,628

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

14,648,780

Enter amount from Part I, line 27a .....................

-109,025

Other increases not included in line 2 (itemize) bullet

4,152

Add lines 1, 2, and 3 ..........................

14,543,907

Decreases not included in line 2 (itemize) bullet

39,279

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .

14,504,628

Form 990-PF (2018)

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.)
1 a	200. AIA GROUP LTD-SP ADR		2017-05-12	2018-12-14
b	500. AFFILIATED MANAGERS GROUP, INC COM		2015-12-31	2018-06-18
c	471. AIR LIQUIDE - ADR		2017-06-20	2018-11-15
d	3. ALEXANDRIA REAL ESTATE EQUITIES		2017-12-14	2018-03-21
e	40. ALPHABET INC CL C		2017-03-02	2018-03-27
	373. AMERICAN ASSETS TRUST INC		2017-12-22	2018-03-16
	204. AMERICAN CAMPUS CMNTYS INC		2017-12-22	2018-03-16
	18. AMERICAN HOMES 4 RENT		2018-03-16	2018-03-21
	8. AMERICAN TOWER CORP		2017-12-14	2018-11-06
	250. AMERIPRISE FINL INC		2015-12-18	2018-07-18
	509. APARTMENT INVT & MGMT CO CL A		2017-12-22	2018-03-16
	25000. ASPEN INSURANCE HLDG 6.000% 12/15/20		2017-06-21	2018-06-18
	54. AVALONBAY CMNTYS INC		2017-12-22	2018-03-16
	170. BBA AVIATION PLC-UNSPON ADR		2017-06-20	2018-11-21
	71. BBA AVIATION PLC-UNSPON ADR		2017-12-11	2018-11-21
	72. BAYER AG ADR- RIGHTS DEEMED 7/15/18		2017-12-14	2018-07-02
	200. BAYER AG ADR- RIGHTS DEEMED 7/15/18		2017-06-20	2018-07-02
	150. BOEING CO		2013-06-27	2018-03-27
	44. BOSTON PROPERTIES INC COM		2017-12-19	2018-05-22
	95. BOSTON PROPERTIES INC COM		2018-03-16	2018-06-18
	133. CSL LTE-SPONSORED ADR		2017-06-20	2018-11-21
	32. CSL LTE-SPONSORED ADR		2017-12-11	2018-11-21
	243. CHESAPEAKE LODGING TRUST		2017-12-22	2018-03-16
	1755.382 COHEN & STEERS PR SEC&INC-I #2118		2016-06-29	2018-12-11
	955. COMCAST CORP CLASS A		2013-07-09	2018-07-18
	13. CORESITE REALTY CORP		2017-12-14	2018-03-16
	4. CORESITE REALTY CORP		2017-12-14	2018-07-24
	328. CORPORATE OFFICE PROPERTIES COM		2017-12-22	2018-03-16
	249. CROWN CASTLE INTL CORP		2017-12-22	2018-03-16
	170. DAITO TRUST CONS-SPN ADR		2018-01-09	2018-10-29
	66. DASSAULT SYSTEMES S.A. - ADR		2017-05-12	2018-05-15
	52. DASSAULT SYSTEMES S.A. - ADR		2017-06-20	2018-10-30
	87. DIGITAL RLTY TR INC		2017-12-22	2018-03-16
	198. EPR PROPERTIES		2017-12-22	2018-03-16
	10335.92 EATON VANCE GLOBAL MACRO - I #0088		2013-07-09	2018-12-11
	4. EQUITY RESIDENTIAL PPTYS TR SH BEN		2018-03-16	2018-07-24
	4. ESSEX PPTY TR COM		2018-03-16	2018-03-21
	3. ESSEX PPTY TR COM		2018-03-11	2018-06-18
	26. ESSEX PPTY TR COM		2018-03-21	2018-11-06
	276. EXTRA SPACE STORAGE INC		2017-12-22	2018-03-16
	5266.877 FIDELITY NEW MRKTS INC-I		2016-04-18	2018-12-12
	24. FOUR CORNERS PROPERTY TRUST		2018-03-16	2018-03-21
	345. FRESENIUS MEDICAL CARE ADR		2017-12-11	2018-12-14
	786. GGP INC		2017-12-22	2018-03-16
	50000. GOLDMAN SACHS GROUP 2.625% 1/31/19		2017-06-05	2018-09-24
	417. HCP INC		2017-12-22	2018-03-16
	1800. HAIN CELESTIAL GROUP INC		2015-12-31	2018-11-09
	49. HOST HOTELS & RESORTS, INC.		2017-12-14	2018-03-21
	49. HOST HOTELS & RESORTS, INC.		2017-12-09	2018-07-24
	44. HOST HOTELS & RESORTS, INC.		2017-12-14	2018-07-24
	408. HOST HOTELS & RESORTS, INC.		2017-12-22	2018-11-06
	40. HUDSON PACIFIC PROPERTIES INC		2018-03-16	2018-03-21
	56. HUDSON PACIFIC PROPERTIES INC		2018-03-21	2018-11-06
	161. INVITATION HOMES INC		2017-12-14	2018-03-16
	132. KILROY REALTY CORP COM		2017-12-22	2018-03-16
	423. KIMCO RLTY CORP		2017-12-22	2018-03-16
	650. LAS VEGAS SANDS CORP		2014-10-29	2018-03-27
	54. EPIROC(A) SHARES DEEMED RECEIVED		2017-12-11	2018-06-29
	227. EPIROC(A) SHARES DEEMED RECEIVED		2017-06-20	2018-06-29
	350. MCKESSON CORP		2016-04-07	2018-07-18
	648. MEDICAL PPTYS TR INC		2017-12-22	2018-03-16
	231. MID AMERICA APARTMENT COM		2017-12-22	2018-03-16
	261. MITSUBISHI ESTATE COMPANY, LTD - ADR		2017-06-20	2018-01-09
	86. NASPERS LTD-N SHS SPON ADR		2017-05-12	2018-02-23
	309. NATIONAL RETAIL PPTYS INC		2017-12-22	2018-03-16
	396. OUTFRONT MEDIA INC		2017-12-22	2018-03-16
	79. PHYSICIANS REALTY TRUST		2017-12-14	2018-03-21
	480. PIEDMONT OFFICE REALTY TRU-A		2017-12-22	2018-03-16
	22624.074 PRINCIPAL GL MULT STRAT-R6 #8232		2016-04-07	2018-12-11
	11440.611 PRINCIPAL REAL EST SEC-R6 #4269		2016-04-07	2018-12-11
	6. PROLOGIS INC		2017-12-14	2018-03-21
	4. PUBLIC STORAGE INC COM		2017-12-14	2018-03-21
	4. PUBLIC STORAGE INC COM		2017-12-09	2018-11-06
	1. PUBLIC STORAGE INC COM		2017-12-14	2018-11-06
	618. RLJ LODGING TRUST		2017-12-22	2018-03-16
	4815.852 T ROWE PRICE INST FLOAT RATE #170		2016-04-07	2018-12-11
	2. SBA COMMUNICATIONS CORP		2018-03-16	2018-03-21
	41. SAP SE		2017-05-12	2018-02-21
	1000. SCHLUMBERGER LTD		2013-07-26	2018-12-04
	875. SCHLUMBERGER LTD		2018-06-18	2018-12-04
	90. SHIRE PLC ADR		2017-12-11	2018-05-10
	7. SIMON PROPERTY GROUP INC		2017-12-14	2018-03-21
	7. SIMON PROPERTY GROUP INC		2017-12-09	2018-07-24
	1. SIMON PROPERTY GROUP INC		2017-12-14	2018-07-24
	500. SPIRIT AEROSYTSEMS HOLD-CL A		2017-03-02	2018-03-27
	106. SYSMEX CORP-UNSPON ADR		2017-05-12	2018-09-14
	250. TJX COMPANIES INC		2013-06-27	2018-10-16
	24. TAUBMAN CTRS INC COM		2018-03-16	2018-05-22
	250. THERMO FISHER SCIENTIFIC INC		2013-07-09	2018-07-18
	50000. TOYOTA MOTOR CREDIT 2.000% 10/24/18		2017-03-29	2018-10-24
	2603. TURKIYE GARANTI BANKSASI-ADR		2017-12-11	2018-04-26
	150. UNITED TECHNOLOGIES CORP		2013-06-21	2018-06-18
	150. UNITEDHEALTH GROUP INC		2013-07-09	2018-06-18
	10. VENTAS INC COM		2017-12-14	2018-03-21
	10. VENTAS INC COM		2017-12-09	2018-07-24
	6. VENTAS INC COM		2017-12-14	2018-07-24
	24. VENTAS INC COM		2017-12-14	2018-11-06
	2620. VANGUARD REAL ESTATE ETF		2017-12-29	2018-12-11
	19. WPP PLC NEW ADR		2017-12-11	2018-10-29
	78. WPP PLC NEW ADR		2017-06-20	2018-10-29
	250. EATON CORP PLC		2014-04-09	2018-10-16
	6.401 SKYBRIDGE MULTI-ADVISER HF LLC (SF)		2017-12-29	2018-06-29
	169.617 SKYBRIDGE MULTI-ADVISER HF LLC (SF)		2016-12-30	2018-06-29
	10784.68 SKYBRIDGE MULTI-ADVISER 5% HOLDBACK		2018-06-29	2018-06-30
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	6,501	5,672	829
b	77,499	79,352	-1,853
c	11,270	10,586	684
d	373	396	-23
e	41,508	33,244	8,264
	12,353	14,324	-1,971
	7,703	8,529	-826
	350	359	-9
	1,247	1,153	94
	36,172	26,071	10,101
	20,695	22,160	-1,465
	26,728	27,632	-904
	8,940	9,686	-746
	2,548	3,403	-855
	1,064	1,641	-577
	120		120
	333		333
	49,627	15,388	34,239
	5,243	5,599	-356
	11,212	12,107	-895
	8,556	6,730	1,826
	2,059	1,712	347
	6,624	6,800	-176
	22,557	24,020	-1,463
	32,664	20,054	12,610
	1,380	1,539	-159
	446	472	-26
	8,590	9,800	-1,210
	27,233	27,108	125
	5,713	8,444	-2,731
	8,607	6,048	2,559
	6,251	4,798	1,453
	9,258	9,792	-534
	11,252	13,045	-1,793
	87,959	94,998	-7,039
	253	241	12
	944	976	-32
	694	755	-61
	6,505	6,349	156
	23,749	23,842	-93
	75,474	79,469	-3,995
	539	542	-3
	11,716	16,710	-4,994
	17,001	18,394	-1,393
	50,060	50,551	-491
	9,683	10,957	-1,274
	39,476	73,414	-33,938
	916	975	-59
	1,051	1,002	49
	943	875	68
	7,530	8,222	-692
	1,283	1,310	-27
	1,695	1,857	-162
	3,651	3,840	-189
	9,513	9,823	-310
	6,125	7,754	-1,629
	47,222	40,563	6,659
	529	567	-38
	2,223	2,134	89
	46,883	42,059	4,824
	8,333	8,937	-604
	21,248	23,238	-1,990
	4,821	4,868	-47
	4,980	3,550	1,430
	11,981	13,198	-1,217
	7,735	9,254	-1,519
	1,172	1,450	-278
	8,583	9,580	-997
	246,376	250,000	-3,624
	277,092	250,058	27,034
	374	396	-22
	790	847	-57
	812	849	-37
	203	212	-9
	12,576	13,733	-1,157
	46,858	47,388	-530
	334	338	-4
	4,264	4,243	21
	44,185	74,636	-30,451
	38,662	58,270	-19,608
	14,763	15,279	-516
	1,076	1,166	-90
	1,193	1,194	-1
	170	167	3
	42,112	30,813	11,299
	4,650	3,022	1,628
	28,044	12,597	15,447
	1,262	1,381	-119
	52,722	21,657	31,065
	50,000	50,280	-280
	5,715	7,046	-1,331
	19,066	13,931	5,135
	38,092	10,132	27,960
	481	637	-156
	579	659	-80
	348	382	-34
	1,408	1,529	-121
	214,988	215,892	-904
	1,047	1,745	-698
	4,297	8,411	-4,114
	19,995	16,005	3,990
	7,844	7,497	347
	207,850	206,799	1,051
	10,785	10,785
			116,736

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			829
b			-1,853
c			684
d			-23
e			8,264
			-1,971
			-826
			-9
			94
			10,101
			-1,465
			-904
			-746
			-855
			-577
			120
			333
			34,239
			-356
			-895
			1,826
			347
			-176
			-1,463
			12,610
			-159
			-26
			-1,210
			125
			-2,731
			2,559
			1,453
			-534
			-1,793
			-7,039
			12
			-32
			-61
			156
			-93
			-3,995
			-3
			-4,994
			-1,393
			-491
			-1,274
			-33,938
			-59
			49
			68
			-692
			-27
			-162
			-189
			-310
			-1,629
			6,659
			-38
			89
			4,824
			-604
			-1,990
			-47
			1,430
			-1,217
			-1,519
			-278
			-997
			-3,624
			27,034
			-22
			-57
			-37
			-9
			-1,157
			-530
			-4
			21
			-30,451
			-19,608
			-516
			-90
			-1
			3
			11,299
			1,628
			15,447
			-119
			31,065
			-280
			-1,331
			5,135
			27,960
			-156
			-80
			-34
			-121
			-904
			-698
			-4,114
			3,990
			347
			1,051

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	183,904
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 ...................		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? Yes No

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 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))
2017	556,830	15,491,626	0.035944
2016	669,035	14,620,875	0.045759
2015	499,957	15,168,473	0.03296
2014	511,052	15,413,814	0.033155
2013

Total of line 1, column (d) .....................

0.147818

Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......

0.036955

Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......

16,236,403

Multiply line 4 by line 3......................

600,016

Enter 1% of net investment income (1% of Part I, line 27b)...........

4,926

Add lines 5 and 6........................

604,942

Enter qualifying distributions from Part XII, line 4,.............

583,190

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 (2018)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	9,851
	hereand 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	0
3	Add lines 1 and 2...........................	3	9,851
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	9,851
6	Credits/Payments:

a	2018 estimated tax payments and 2017 overpayment credited to 2018	6a	14,712
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	14,712
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	4,861
11	Enter the amount of line 10 to be: Credited to 2019 estimated tax4,861	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions

for definition).................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.

If "Yes," complete Part XIV .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2018)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

Wells Fargo Bank NC Telephone no. bullet

(855) 241-6645

Located at bullet

100 N MAIN ST D4001-065WINSTONSALEMNC ZIP+4 bullet

27101

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ........ bullet

16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country bullet

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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?...............YesNo

(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.).......YesNo

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 instructions ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

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 2018?.............

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)):

At the end of tax year 2018, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2018?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

If "Yes," did it have excess business holdings in 2018 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 2018.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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 2018?

Form 990-PF (2018)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

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 ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .................YesNo

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-)
MARK JEPBAK	PRESIDENT 5	3,000
1525 W WT HARRIS BLVD CHARLOTTE,NC28262	PRESIDENT 5	3,000
ALLEN SOILAND	TREASURER 5	0
1525 W WT HARRIS BLVD CHARLOTTE,NC28262	TREASURER 5	0
DUANE JENSEN	SECRETARY 5	3,000
1525 W WT HARRIS BLVD CHARLOTTE,NC28262	SECRETARY 5	3,000
MAY CANTRELL	BOARD MEMBER 5	1,500
1525 W WT HARRIS BLVD CHARLOTTE,NC28262	BOARD MEMBER 5	1,500
TOM TORGERSON	BOARD MEMBER 5	2,500
1525 W WT HARRIS BLVD CHARLOTTE,NC28262	BOARD MEMBER 5	2,500
RICHARD VOGEL	BOARD MEMBER 5	3,000
1525 W WT HARRIS BLVD CHARLOTTE,NC28262	BOARD MEMBER 5	3,000
JAMES JERPBAK	BOARD MEMBER 5	500
1525 W WT HARRIS BLVD CHARLOTTE,NC28262	BOARD MEMBER 5	500

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...................				0

Form 990-PF (2018)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

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
WELLS FARGO BANK	INVT MGMT/GRANT ADMI	95,330
100 N MAIN ST WINSTON SALEM,NC27101	INVT MGMT/GRANT ADMI	95,330

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

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 instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2018)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

14,827,620

Average of monthly cash balances.......................

634,038

Fair market value of all other assets (see instructions)................

1,022,000

Total (add lines 1a, b, and c).........................

16,483,658

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

16,483,658

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

247,255

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

16,236,403

Minimum investment return. Enter 5% of line 5..................

811,820

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

811,820

Tax on investment income for 2018 from Part VI, line 5......

9,851

Income tax for 2018. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

9,851

Distributable amount before adjustments. Subtract line 2c from line 1............

801,969

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

801,969

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

801,969

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

583,190

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

583,190

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.................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

583,190

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 (2018)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2017	(c) 2017	(d) 2018
1 Distributable amount for 2018 from Part XI, line 7					801,969
2 Undistributed income, if any, as of the end of 2018:
a Enter amount for 2017 only.......				522,752
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2018:
a From 2013......	0
b From 2014......	0
c From 2015......	0
d From 2016......	0
e From 2017......	0
fTotal of lines 3a through e........		0
4Qualifying distributions for 2018 from Part
XII, line 4: $ 583,190
a Applied to 2017, but not more than line 2a				522,752
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2018 distributable amount.....					60,438
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2018.		0			0
(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		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
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......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2017. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2018. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2019 ..........					741,531
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2013 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2019. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2014....	0
b Excess from 2015....	0
c Excess from 2016....	0
d Excess from 2017....	0
e Excess from 2018....	0

Form 990-PF (2018)

Page 10

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 2018, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

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) 2018	(b) 2017	(c) 2016	(d) 2015	(e) Total

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 foundation 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).)

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

Wells Fargo Philanthropic Services
1 W 4TH STREET
WINSTONSALEM,NC27101
(855) 241-6645

bThe form in which applications should be submitted and information and materials they should include:

Apply online at www.wellsfargo.com/privatefoundationgrants/bethlehem

cAny submission deadlines:

February 28 and August 31

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

The Bethlehem Foundation promotes an enhanced quality of life for senior residents of Sonoma County, California.

Form 990-PF (2018)

Page 11

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
SEBASTOPOL AREA SENIOR CENTER 167 N HIGH STREET SEBASTAPOL,CA95472	NONE	PC	FALL PREVENTION	25,000
CERES COMMUNITY PROJECT 7351 BODEGA AVE SEBASTOPOL,CA95472	NONE	PC	MEALS FOR SENIORS IN SONOMA	10,000
ROOMS THAT ROCK 4 CHEMO INC 1032 IRVING ST 223 SAN FRANCISCO,CA94122	NONE	PC	SONOMA COUNTY CHEMO PROJECT	10,000
LIME FOUNDATION 3327 MCMAUDE PLACE SANTA ROSA,CA95407	NONE	PC	SENIOR ACTIVITIES PROGRAM	5,000
FISH OF THE SANTA ROSA AREA PO BOX 4291 SANTA ROSA,CA95402	NONE	PC	SENIORS PROGRAM	10,000
REDWOOD EMPIRE FOOD BANK 3990 BRICKWAY BLVD SANTA ROSA,CA95403	NONE	PC	SENIOR SECURITY PRGRAMS	30,000
SONOMOA COUNTY PUBLIC LIBRARY FDN 211 E ST SANTA ROSA,CA95404	NONE	PC	FREE BOOKMOBILE OF SONOMA	10,000
COMMITTEE ON THE SHELTERLESS PO BOX 2744 PETALUMA,CA94953	NONE	PC	FOOD PROGRAMS	10,000
FOOD FOR THOUGHT AKA SONOMA COUNTY AIDS FOOD BANK 6550 RAILROAD AVE FORESTVILLE,CA95436	NONE	PC	COMPREHENSIVE NUTRITION	10,000
ST JOSEPH HOME CARE NETWORK 439 COLLEGE AVENUE SANTA ROSA,CA95401	NONE	PC	SENIOR GRIEF SUPPORT	100,000
EARLE BAUM CENTER OF THE BLIND 4539 OCCIDENTAL ROAD SANTA ROSA,CA95401	NONE	PC	PROGRAM DEVELOPMENT AND	200,000
NORTHERN CALIFORNIA CENTER FOR 101 BROOKWOOD AVE STE A SANTA ROSA,CA95404	NONE	PC	HEALTH LITERACY FOR SENIORS	25,000
BETHLEHEM LUTHERAN CHURCH 1300 SAINT FRANCIS ROAD SANTA ROSA,CA95409	NONE	PC	SUPPORT AGING SENIORS	37,500
CANINE COMPANION FOR INDEPENDENCE 2965 DUTTON AVE SANTA ROSA,CA95402	NONE	PC	ASSISTANCE DOGS FOR SENIORS	10,000
PETALUMA ECUMENICAL PROPERTIES 951 PETALUMA BLVD SO PETALUMA,CA94952	NONE	PC	SERVICE PROGRAM AND ASSIST	50,000
Total ................................. 3a				542,500

bApproved for future payment

Total ................................. 3b

Form 990-PF (2018)

Page 12

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities....			14	410,491
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	183,904
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				594,395

13Total. Add line 12, columns (b), (d), and (e)..................

594,395

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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 (2018)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

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) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2018)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2018 AccountingFeesSchedule

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	2,600			2,600

- TIN:

TY 2018 ContractorCompensationExpln

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

Contractor	Explanation
WELLS FARGO BANK	INVESTMENT AND GRANT SERVICES

- TIN:

TY 2018 InvestmentsCorpBondsSchedule

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

Name of Bond	End of Year Book Value	End of Year Fair Market Value
315920702 FID ADV EMER MKTS IN
4812C0803 JPMORGAN HIGH YIELD-	200,000	181,308
74253Q416 PRINCIPAL PREFERRED
00206RAX0 AT&T INC	106,376	102,166
023135AN6 AMAZON.COM INC	99,864	102,349
06406HCQ0 BANK OF NEW YORK MEL	104,495	101,466
46625HJD3 JPMORGAN CHASE & CO	106,602	103,039
92553PAT9 VIACOM INC	100,547	99,610
19248X307 COHEN & STEERS PR SE
77958B402 T ROWE PRICE INST FL	202,612	196,462
0258M0EG0 AMERICAN EXPRESS CRE	49,984	49,010
03076CAF3 AMERIPRISE FINANCIAL	53,347	51,431
031162BU3 AMGEN INC	50,410	49,807
037833AR1 APPLE INC	51,241	50,061
04530DAC6 ASPEN INSURANCE HLDG	27,632	25,949
06051GFN4 BANK OF AMERICA CORP	49,970	49,466
06366RJJ5 BANK OF MONTREAL	49,891	48,486
166764AG5 CHEVRON CORP	50,806	49,707
172967HM6 CITIGROUP INC	50,506	49,929
38145XAA1 GOLDMAN SACHS GROUP
437076BE1 HOME DEPOT INC	50,408	49,858
458140AQ3 INTEL CORP	50,737	49,800
478160BT0 JOHNSON & JOHNSON	49,755	48,305
501044CZ2 KROGER CO/THE	50,547	49,111
585055BG0 MEDTRONIC INC	50,868	49,744
594918BX1 MICROSOFT CORP	51,003	49,529
61761JVL0 MORGAN STANLEY	50,935	49,170
67021CAG2 NSTAR ELECTRIC CO	99,352	96,436
717081EA7 PFIZER INC	49,582	48,277
78012KC62 ROYAL BANK OF CANADA	50,203	49,484
857477AS2 STATE STREET CORP	50,984	49,580
867914BM4 SUNTRUST BANKS INC	25,234	24,382
89236TAY1 TOYOTA MOTOR CREDIT
91159HHC7 US BANCORP	51,355	49,687
92277GAD9 VENTAS REALTY LP	50,778	49,513
92826CAB8 VISA INC	50,227	49,457
00440EAR8 ACE INA HOLDINGS	49,479	49,680
05531FBE2 BB&T CORPORATION	49,577	49,877
31641Q763 FIDELITY NEW MRKTS I	220,531	200,123
369550BG2 GENERAL DYNAMICS COR	24,893	24,898
74256W485 PRINCIPAL PREFERRED	296,725	270,005
86562MAX8 SUMITOMO MITSUI FINL	24,413	24,524

- TIN:

TY 2018 InvestmentsCorpStockSchedule

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

Name of Stock	End of Year Book Value	End of Year Fair Market Value
037833100 APPLE INC	61,641	157,740
09247X101 BLACKROCK INC	88,576	108,026
097023105 BOEING CO	26,155	80,625
12572Q105 CME GROUP INC	75,572	188,120
126650100 CVS HEALTH CORPORATI	74,666	80,262
150870103 CELANESE CORP	96,724	121,460
17275R102 CISCO SYSTEMS INC	86,738	151,655
172967424 CITIGROUP INC.	73,942	78,090
20030N101 COMCAST CORP CLASS A	40,592	69,632
25243Q205 DIAGEO PLC - ADR	81,805	106,350
254687106 WALT DISNEY CO	63,527	109,650
277923728 EATON VANCE GLOBAL M
339128100 JP MORGAN MID CAP VA	300,000	302,285
375558103 GILEAD SCIENCES INC	51,303	62,550
404280406 HSBC - ADR	9,337	8,551
464287507 ISHARES CORE S&P MID	299,980	415,150
464287804 ISHARES CORE S&P SMA	345,120	485,240
46625H100 JPMORGAN CHASE & CO	67,181	122,025
517834107 LAS VEGAS SANDS CORP	67,219	70,268
58155Q103 MCKESSON CORP
594918104 MICROSOFT CORP	146,845	304,710
609207105 MONDELEZ INTERNATION	95,174	90,868
641069406 NESTLE S.A. REGISTER	27,141	26,231
683974604 OPPENHEIMER DEVELOPI	700,000	713,048
74253Q580 PRINCIPAL INV R/E SE
74253Q747 PRINCIPAL MIDCAP FD-
74255L696 PRINCIPAL GL MULT ST
74925K581 BOSTON P LNG/SHRT RE	450,000	434,564
78463X863 SPDR DJ WILSHIRE INT	373,268	325,128
806857108 SCHLUMBERGER LTD	13,038	6,891
872540109 TJX COMPANIES INC	49,888	89,480
87612E106 TARGET CORP	59,557	56,177
883556102 THERMO FISHER SCIENT	41,816	111,895
89151E109 TOTAL S.A. - ADR	131,304	130,189
902641646 E-TRACS ALERIAN MLP
907818108 UNION PACIFIC CORP	77,096	138,230
911312106 UNITED PARCEL SERVIC	67,439	73,148
913017109 UNITED TECHNOLOGIES
91324P102 UNITEDHEALTH GROUP I	49,039	186,840
G29183103 EATON CORP PLC	55,879	66,257
008252108 AFFILIATED MANAGERS
02079K107 ALPHABET INC CL C	123,641	207,122
03076C106 AMERIPRISE FINL INC	45,165	52,185
30303M102 FACEBOOK INC	79,197	98,318
405217100 HAIN CELESTIAL GROUP
693475105 PNC FINANCIAL SERVIC	96,187	116,910
771195104 ROCHE HOLDINGS LTD -	112,393	100,295
79466L302 SALESFORCE COM INC	64,884	116,425
867224107 SUNCOR ENERGY INC NE	122,124	116,076
56501R106 MANULIFE FINANCIAL C	70,725	70,950
58933Y105 MERCK & CO INC NEW	78,509	114,615
001317205 AIA GROUP LTD-SP ADR	23,528	26,008
009126202 AIR LIQUIDE - ADR	17,747	18,305
015271109 ALEXANDRIA REAL ESTA	25,280	22,587
015393101 ALFA LAVAL AB-UNSPON	8,506	8,901
018805101 ALLIANZ SE ADR	23,645	23,362
024013104 AMERICAN ASSETS TRUS
024835100 AMERICAN CAMPUS CMNT
03027X100 AMERICAN TOWER CORP	48,681	53,785
03748R101 APARTMENT INVT & MGM
04530Y106 ASPEN PHARMACARE HL-	9,207	3,900
049255706 ATLAS COPCO AB ADR	16,229	15,052
053484101 AVALONBAY CMNTYS INC
05530H100 BBA AVIATION PLC-UNS
056752108 BAIDU INC ADR	24,094	19,825
05946K101 BANCO BILBAO VIZCAYA	21,053	13,532
072730302 BAYER AG - ADR	35,160	19,116
072743305 BAYERISCHE MOTOREN A	9,115	7,686
09258N505 BLACKROCK GL L/S CRE
101121101 BOSTON PROPERTIES IN
12637N204 CSL LTE-SPONSORED AD
136375102 CANADIAN NATL RR CO	17,091	16,378
165240102 CHESAPEAKE LODGING T
21870Q105 CORESITE REALTY CORP	25,813	19,627
22002T108 CORPORATE OFFICE PRO
22822V101 CROWN CASTLE INTL CO
23304Y100 DBS GROUP HOLDINGS L	18,526	20,151
237545108 DASSAULT SYSTEMES S.	13,483	16,195
253868103 DIGITAL RLTY TR INC
26884U109 EPR PROPERTIES
29444U700 EQUINIX INC	46,243	37,371
30225T102 EXTRA SPACE STORAGE
307305102 FANUC CORPORATION AD	22,101	16,174
32054K103 FIRST INDL RLTY TR I	11,676	10,620
358029106 FRESENIUS MEDICAL CA
35952Q106 FUCHS PETROLUB SE-PR	9,593	7,243
36174X101 GGP INC
398438408 GRIFOLS SA-ADR	7,715	6,591
40052P107 GRUPO FIN BANORTE-SP	9,344	7,765
40414L109 HCP INC
40415F101 HDFC BANK LTD. - ADR	7,539	8,702
44107P104 HOST HOTELS & RESORT	18,199	15,720
45104G104 ICICI BANK LTD. - AD	8,572	9,940
45662N103 INFINEON TECHNOLOGIE	20,018	17,847
46187W107 INVITATION HOMES INC	19,890	17,249
465562106 ITAU UNIBANCO H-SPON	16,929	13,902
466140100 JGC CORP-UNSPONSORED	7,371	6,334
49427F108 KILROY REALTY CORP C
49446R109 KIMCO RLTY CORP
501173207 KUBOTA LIMITED - ADR	7,547	6,481
502117203 L'OREAL - ADR	16,933	18,127
502441306 LVMH MOET HENNESSY U	10,675	11,867
532457108 ELI LILLY & CO COM	59,075	83,897
58463J304 MEDICAL PPTYS TR INC
59522J103 MID AMERICA APARTMEN
606783207 MITSUBISHI ESTATE CO
61022V107 MONOTARO CO LTD-UNSP	3,003	5,214
631512209 NASPERS LTD-N SHS SP	17,732	16,140
637417106 NATIONAL RETAIL PPTY
654106103 NIKE INC CL B	92,186	122,331
69007J106 OUTFRONT MEDIA INC
701491102 PARK24 CO LTD-SPN AD	7,496	6,245
71943U104 PHYSICIANS REALTY TR	33,676	34,224
720190206 PIEDMONT OFFICE REAL
74340W103 PROLOGIS INC	37,677	34,292
74460D109 PUBLIC STORAGE INC C	14,567	14,574
74965L101 RLJ LODGING TRUST
779572502 T. ROWE PR SM-CAP ST	250,000	255,646
780259107 ROYAL DUTCH SHELL PL	22,511	23,317
803054204 SAP SE ADR	22,532	21,105
803866300 SASOL LIMITED - ADR	6,548	6,444
82481R106 SHIRE PLC ADR
828806109 SIMON PROPERTY GROUP	37,815	38,134
83569C102 SONOVA HOLDIN-UNSPON	8,572	8,818
848574109 SPIRIT AEROSYTSEMS H	40,057	46,859
87155N109 SYMRISE AG ADR	9,186	9,225
87184P109 SYSMEX CORP-UNSPON A	9,592	7,116
874039100 TAIWAN SEMICONDUCTOR	27,815	28,162
88031M109 TENARIS S.A. - ADR	4,044	2,814
900148701 TURKIYE GARANTI BANK
904767704 UNILEVER PLC - ADR	13,055	12,645
92276F100 VENTAS INC COM	9,096	8,730
92937A102 WPP PLC NEW ADR
948596101 WEIBO CORP-SPON ADR	17,844	10,985
98978V103 ZOETIS INC	61,992	85,540
H84989104 TE CONNECTIVITY LTD	90,595	90,756
M22465104 CHECK POINT SOFTWARE	23,438	22,172
00206R102 AT & T INC	115,912	100,889
00687A107 ADIDAS-AG ADR	7,513	6,678
02319V103 AMBEV SA-SPN ADR	8,390	6,605
02665T306 AMERICAN HOMES 4 REN	16,494	16,356
09260C703 BLACKROCK GL L/S CRE	450,000	424,595
133131102 CAMDEN PPTY TR SH BE	18,211	18,755
26875P101 EOG RESOURCES, INC	87,192	67,588
29429L105 EPIROC AB-UNSP ADR	2,719	3,043
29476L107 EQUITY RESIDENTIAL P	15,736	16,899
297178105 ESSEX PPTY TR COM	10,000	10,054
344419106 FOMENTO ECONOMICO ME	7,396	7,400
35086T109 FOUR CORNERS PROPERT	16,174	17,999
42225P501 HEALTHCARE TRUST OF	10,670	10,352
437076102 HOME DEPOT INC	62,335	60,137
444097109 HUDSON PACIFIC PROPE	23,818	21,098
500458401 KOMATSU LIMITED - AD	6,577	5,945
54338V101 LONZA GROUP AG ADR	13,267	13,021
63872T885 ASG GLOBAL ALTERNATI	150,000	145,387
670108109 NOVOZYMES A/S UNSPON	7,776	6,713
74256W584 PRINCIPAL MIDCAP FUN	300,000	372,024
76131N101 RETAIL OPPORTUNITY I	23,835	21,406
78410G104 SBA COMMUNICATIONS C	13,482	13,113
866674104 SUN CMNTYS INC COM	19,001	21,156
876664103 TAUBMAN CTRS INC COM	9,531	7,551
87974R208 TEMENOS AG-SP ADR	10,312	8,489
G5494J103 LINDE PLC	13,083	13,107
N97284108 YANDEX NV-A	6,421	6,291
Y2573F102 FLEX LTD	95,472	44,480

- TIN:

TY 2018 InvestmentsGovtObligationsSch

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

US Government Securities - End of Year Book Value:

1,078,637

US Government Securities - End of Year Fair Market Value:

1,063,500

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

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

- TIN:

TY 2018 InvestmentsOtherSchedule2

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
GTY995004 GAI AGILITY INCOME F	AT COST	114,314	109,908
SKY990001 SKYBRIDGE MULTI-ADVI
GTC997004 GAI CORBIN MULTI STR	AT COST	112,298	109,030

- TIN:

TY 2018 OtherDecreasesSchedule

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

Description	Amount
MUTUAL FUNDS POSTING NEXT YR EFF CURR YR	6,123
RETURN OF CAPITAL	5,904
CAP LOSS POSTING CURR YR EFF PREV YR	26,744
ACCD INT PAID CURR YR EFF NEXT YR	508

- TIN:

TY 2018 OtherExpensesSchedule

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
CA FILING FEE	75	0	75
CA AG REGISTRATION FEE	75	0	75
WELLS FARGO - GRANT ADMIN FEE	15,551	0	15,551
MUTUAL FUND EXPENSES	34	34	0
ADR FEES	833	833	0
DIRECTOR INSURANCE	2,750	0	2,750
NOTE VALUATION SERVICES	2,000	0	2,000
HARLAND CLARKE - CHECKS	65	0	65
MEMBERSHIP DUES	750	0	750

- TIN:

TY 2018 OtherIncreasesSchedule

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

Description	Amount
MUTUAL FUNDS POSTING CURR YR EFF PREV YR	3,475
MUTUAL FUND DEFERRED INCOME	624
ACCD INT POSTING PRIOR YR EFF CURR YR	39
ROUNDING	14

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2018 OtherNotesLoansRcvblLongSch

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

Borrower's Name	Relationship to Insider	Original Amount of Loan	Balance Due	Date of Note	Maturity Date	Repayment Terms	Interest Rate	Security Provided by Borrower	Purpose of Loan	Description of Lender Consideration	Consideration FMV
BETHLEHEM TOWERS	NONE	1,500,000	1,500,000	2013-01	2030-11		4.000 %

- TIN:

TY 2018 OtherProfessionalFeesSchedule

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
WELLS FARGO - MGMT FEES	79,780	79,780
SUB ADVISER FEES	3,155	3,155

- TIN:

TY 2018 TaxesSchedule

Name:

BETHLEHEM FOUNDATION

EIN:

46-4009968

Category	Amount	Net Investment Income
FOREIGN TAXES	7,088	7,088
FEDERAL TAX PAYMENT - PRIOR YE	12,040	0
FEDERAL ESTIMATES - PRINCIPAL	14,712	0
FOREIGN TAXES ON QUALIFIED FOR	1,771	1,771
FOREIGN TAXES ON NONQUALIFIED	960	960