Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2019
Open to Public Inspection
For calendar year 2019, or tax year beginning 10-01-2017 , and ending 09-30-2018
Name of foundation
JAMES AND JANE WELCH FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 3636
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
GRAND RAPIDS, MI495013636
A Employer identification number

38-2927749
B Telephone number (see instructions)

(800) 400-0439
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$7,114,866J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 770 770  
4 Dividends and interest from securities... 158,697 158,697  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,089,563
b Gross sales price for all assets on line 6a 5,273,874
7 Capital gain net income (from Part IV, line 2)... 2,089,563
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........ 2,249,030 2,249,030  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
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)....... Click to see attachment 1,000 500 0 500
c Other professional fees (attach schedule).... Click to see attachment 942 942   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 28,136 2,136   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 1,190 0 0 1,190
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 35,774 30,704   5,070
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 67,042 34,282 0 6,760
25 Contributions, gifts, grants paid....... 356,500 356,500
26 Total expenses and disbursements. Add lines 24 and 25 423,542 34,282 0 363,260
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,825,488
b Net investment income (if negative, enter -0-) 2,214,748
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2019)
Form 990-PF (2019)
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.............      
2 Savings and temporary cash investments......... 48,686 1,374,766 1,374,766
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 796    
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 4,695,755 Click to see attachment5,195,956 5,740,100
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 4,745,237 6,570,722 7,114,866
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 Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 4,745,237 6,570,722
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 4,745,237 6,570,722
30 Total liabilities and net assets/fund balances (see instructions). 4,745,237 6,570,722
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
4,745,237
2
Enter amount from Part I, line 27a .....................
2
1,825,488
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
6,570,725
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
3
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
6,570,722
Form 990-PF (2019)
Form 990-PF (2019)
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 1. POWERSHARES DB COMM INDEX   2017-12-01 2017-12-31
b 1. POWERSHARES DB COMM INDEX   2016-03-15 2017-12-31
c 6.028 NORTHERN LTS FD TR II BALTER   2017-12-20 2018-02-28
d 2031.681 NORTHERN LTS FD TR II BALTER   2015-08-17 2018-02-28
e 54.822 NORTHERN LTS FD TR II BALTER   2015-12-22 2018-02-28
88.792 AMERICAN BEACON SMALLCAP VALUE Y SMALL CAP VALUE FD CL Y   2017-12-22 2018-03-23
1181.31 AMERICAN BEACON SMALLCAP VALUE Y SMALL CAP VALUE FD CL Y   2016-12-20 2018-03-23
274.227 ARTISAN MID CAP FUND   2017-11-21 2018-03-23
1826.414 ARTISAN MID CAP FUND   2016-12-20 2018-03-23
40113.272 BAIRD AGGREGATE BOND FUND-IS   2016-09-29 2018-03-23
25215.443 DOUBLELINE TOTAL RETURN BOND I   2016-09-29 2018-03-23
2062.76 DOUBLELINE FLEXIBLE INCOME FD I   2015-11-17 2018-03-23
8895.367 DOUBLELINE FLEXIBLE INCOME FD I   2016-02-02 2018-03-23
2006.682 DOUBLELINE FLEXIBLE INCOME FD I   2016-05-03 2018-03-23
12. ISHARES BARCLAYS TIPS BOND FUND   2013-12-10 2018-03-23
238. ISHARES BARCLAYS TIPS BOND FUND   2013-12-10 2018-03-23
107. ISHARES BARCLAYS TIPS BOND FUND   2015-05-07 2018-03-23
522. ISHARES BARCLAYS TIPS BOND FUND   2016-03-15 2018-03-23
376. ISHARES S&P GLOBAL TELECOMM   2011-09-12 2018-03-23
59. ISHARES S&P GLOBAL TELECOMM   2012-01-06 2018-03-23
128. ISHARES S&P GLOBAL TELECOMM   2012-01-09 2018-03-23
52. ISHARES S&P GLOBAL TELECOMM   2012-01-13 2018-03-23
359. ISHARES S&P GLBL TECH SECTOR IND FD ETF [RIC]   2011-09-12 2018-03-23
110. ISHARES S&P GLBL TECH SECTOR IND FD ETF [RIC]   2012-01-06 2018-03-23
7. ISHARES S&P GLBL TECH SECTOR IND FD ETF [RIC]   2012-01-09 2018-03-23
22. ISHARES S&P GLBL TECH SECTOR IND FD ETF [RIC]   2012-01-09 2018-03-23
9. ISHARES S&P GLBL TECH SECTOR IND FD ETF [RIC]   2015-11-16 2018-03-23
42. ISHARES S&P GLBL TECH SECTOR IND FD ETF [RIC]   2015-11-17 2018-03-23
108. ISHARES S&P GLBL TECH SECTOR IND FD ETF [RIC]   2016-05-20 2018-03-23
391. ISHARES TR S&P GLOBAL HEALTHCARE SECTOR ETF [RIC]   2011-09-12 2018-03-23
53. ISHARES TR S&P GLOBAL HEALTHCARE SECTOR ETF [RIC]   2012-01-06 2018-03-23
26. ISHARES TR S&P GLOBAL HEALTHCARE SECTOR ETF [RIC]   2012-01-09 2018-03-23
17. ISHARES TR S&P GLOBAL HEALTHCARE SECTOR ETF [RIC]   2015-10-27 2018-03-23
8. ISHARES TR S&P GLOBAL HEALTHCARE SECTOR ETF [RIC]   2015-11-16 2018-03-23
14. ISHARES TR S&P GLOBAL HEALTHCARE SECTOR ETF [RIC]   2015-11-17 2018-03-23
103. ISHARES TR S&P GLOBAL HEALTHCARE SECTOR ETF [RIC]   2016-05-20 2018-03-23
13. ISHARES S&P GLBL FINLS SECTOR IN ETF [RIC]   2013-05-02 2018-03-23
70. ISHARES S&P GLBL FINLS SECTOR IN ETF [RIC]   2013-05-02 2018-03-23
804. ISHARES S&P GLBL FINLS SECTOR IN ETF [RIC]   2013-05-02 2018-03-23
17. ISHARES S&P GLBL FINLS SECTOR IN ETF [RIC]   2015-11-16 2018-03-23
129. ISHARES S&P GLBL FINLS SECTOR IN ETF [RIC]   2015-11-17 2018-03-23
271. ISHARES S&P GLBL FINLS SECTOR IN ETF [RIC]   2016-05-20 2018-03-23
300. ISHARES S&P GLBL FINLS SECTOR IN ETF [RIC]   2016-05-20 2018-03-23
1484. ISHARES TR S&P GLOBAL ENERGY SECTOR INDEX ETF [RIC]   2015-09-30 2018-03-23
108. ISHARES TR S&P GLOBAL ENERGY SECTOR INDEX ETF [RIC]   2015-10-27 2018-03-23
100. ISHARES TR RUSSELL 2000 INDEX FD ETF [RIC]   2010-09-29 2018-03-23
181. ISHARES TR RUSSELL 2000 INDEX FD ETF [RIC]   2010-09-29 2018-03-23
22. ISHARES TR RUSSELL 2000 INDEX FD ETF [RIC]   2015-10-26 2018-03-23
45. ISHARES TR RUSSELL 2000 INDEX FD ETF [RIC]   2015-10-27 2018-03-23
5. ISHARES TR RUSSELL 2000 INDEX FD ETF [RIC]   2015-11-16 2018-03-23
47. ISHARES TR RUSSELL 2000 INDEX FD ETF [RIC]   2015-11-17 2018-03-23
665. ISHARES TR RUSSELL 2000 INDEX FD ETF [RIC]   2015-12-07 2018-03-23
895. ISHARES TRUST S & P GLOBAL MAT ETF [RIC]   2015-09-30 2018-03-23
501. ISHARES TR S&P GL UTILITI ETF [RIC]   2011-09-12 2018-03-23
78. ISHARES TR S&P GL UTILITI ETF [RIC]   2012-01-13 2018-03-23
21. ISHARES TR S&P GL UTILITI ETF [RIC]   2012-06-25 2018-03-23
22. ISHARES TR S&P GL UTILITI ETF [RIC]   2012-06-25 2018-03-23
27. ISHARES TR S&P GL UTILITI ETF [RIC]   2012-06-26 2018-03-23
27. ISHARES TR S&P GL UTILITI ETF [RIC]   2012-06-26 2018-03-23
35. ISHARES TR S&P GL UTILITI ETF [RIC]   2012-12-06 2018-03-23
36. ISHARES TR S&P GL UTILITI ETF [RIC]   2012-12-06 2018-03-23
1. ISHARES TR S&P GL UTILITI ETF [RIC]   2012-12-07 2018-03-23
9. ISHARES TR S&P GL UTILITI ETF [RIC]   2012-12-07 2018-03-23
449. ISHARES TRUST S&P GL INDUSTRIALS ETF [RIC]   2011-09-12 2018-03-23
103. ISHARES TRUST S&P GL INDUSTRIALS ETF [RIC]   2012-01-06 2018-03-23
3. ISHARES TRUST S&P GL INDUSTRIALS ETF [RIC]   2012-06-25 2018-03-23
17. ISHARES TRUST S&P GL INDUSTRIALS ETF [RIC]   2012-06-25 2018-03-23
28. ISHARES TRUST S&P GL INDUSTRIALS ETF [RIC]   2012-06-25 2018-03-23
21. ISHARES TRUST S&P GL INDUSTRIALS ETF [RIC]   2012-06-26 2018-03-23
30. ISHARES TRUST S&P GL INDUSTRIALS ETF [RIC]   2012-06-26 2018-03-23
42. ISHARES TRUST S&P GL INDUSTRIALS ETF [RIC]   2012-06-27 2018-03-23
13. ISHARES TRUST S&P GL INDUSTRIALS ETF [RIC]   2015-11-16 2018-03-23
110. ISHARES TRUST S&P GL INDUSTRIALS ETF [RIC]   2015-11-17 2018-03-23
22. ISHARES TRUST S&P GL INDUSTRIALS ETF [RIC]   2016-05-20 2018-03-23
322. ISHARES SP 500 GL CONS STAPLES ETF [RIC]   2011-09-12 2018-03-23
101. ISHARES SP 500 GL CONS STAPLES ETF [RIC]   2012-01-06 2018-03-23
61. ISHARES SP 500 GL CONS STAPLES ETF [RIC]   2012-01-09 2018-03-23
2. ISHARES SP 500 GL CONS STAPLES ETF [RIC]   2012-01-13 2018-03-23
3. ISHARES SP 500 GL CONS STAPLES ETF [RIC]   2012-01-13 2018-03-23
5. ISHARES SP 500 GL CONS STAPLES ETF [RIC]   2012-01-13 2018-03-23
16. ISHARES SP 500 GL CONS STAPLES ETF [RIC]   2012-01-13 2018-03-23
11. ISHARES SP 500 GL CONS STAPLES ETF [RIC]   2015-11-16 2018-03-23
49. ISHARES SP 500 GL CONS STAPLES ETF [RIC]   2015-11-17 2018-03-23
3. ISHARES SP 500 GL CONS STAPLES ETF [RIC]   2016-05-20 2018-03-23
428. ISHARES SP 500 GL CONS DISC ETF [RIC]   2011-09-12 2018-03-23
35. ISHARES SP 500 GL CONS DISC ETF [RIC]   2012-01-06 2018-03-23
55. ISHARES SP 500 GL CONS DISC ETF [RIC]   2012-01-06 2018-03-23
10. ISHARES SP 500 GL CONS DISC ETF [RIC]   2012-01-09 2018-03-23
10. ISHARES SP 500 GL CONS DISC ETF [RIC]   2015-11-16 2018-03-23
62. ISHARES SP 500 GL CONS DISC ETF [RIC]   2015-11-17 2018-03-23
104. ISHARES SP 500 GL CONS DISC ETF [RIC]   2016-05-20 2018-03-23
4818.693 OPPENHEIMER DEVELOPING MARKETS CLASS I   2015-09-30 2018-03-23
334.051 OPPENHEIMER DEVELOPING MARKETS CLASS I   2016-12-20 2018-03-23
1118.05 PRICE T ROWE HIGH YIELD FD INC   2010-09-30 2018-03-23
1987.271 PRICE T ROWE HIGH YIELD FD INC   2011-09-26 2018-03-23
2427.649 PRICE T ROWE HIGH YIELD FD INC   2011-10-05 2018-03-23
1012.272 PRICE T ROWE HIGH YIELD FD INC   2012-10-04 2018-03-23
2016.466 PRICE T ROWE HIGH YIELD FD INC   2013-04-02 2018-03-23
3092.747 PRICE T ROWE HIGH YIELD FD INC   2013-04-02 2018-03-23
209.916 PRICE T ROWE HIGH YIELD FD INC   2013-11-07 2018-03-23
1830.316 PRICE T ROWE HIGH YIELD FD INC   2013-11-07 2018-03-23
56.082 PRICE T ROWE HIGH YIELD FD INC   2014-01-15 2018-03-23
9678.66 PRICE T ROWE HIGH YIELD FD INC   2015-08-27 2018-03-23
49.918 PRICE T ROWE HIGH YIELD FD INC   2016-03-01 2018-03-23
1488. SPDR BLOOMBERG BARCLAYS CONVERTIBLE SECURITIES ETF   2016-11-09 2018-03-23
36248.198 TEMPLETON FOREIGN FUND-ADVSR   2016-12-20 2018-03-23
1839. VANGUARD FTSE EUROPE ETF   2016-11-17 2018-03-23
154. VANGUARD CONSUMER DISCRETIONARY ETF [RIC]   2016-11-17 2018-03-23
239. VANGUARD CONSUMER DISCRETIONARY ETF [RIC]   2016-12-02 2018-03-23
148. VANGUARD CONSUMER STAPLE ETF [RIC]   2016-11-17 2018-03-23
238. VANGUARD CONSUMER STAPLE ETF [RIC]   2016-12-02 2018-03-23
699. VANGUARD FINANCIALS ETF [RIC]   2016-11-17 2018-03-23
1064. VANGUARD FINANCIALS ETF [RIC]   2016-12-02 2018-03-23
246. VANGUARD HEALTH CARE ETF [RIC]   2016-12-02 2018-03-23
258. VANGUARD INDUSTRIALS ETF [RIC]   2016-12-02 2018-03-23
547. VANGUARD INFORMATION TECHNOLOGY ETF [RIC]   2016-10-07 2018-03-23
461. VANGUARD INFORMATION TECHNOLOGY ETF [RIC]   2016-12-02 2018-03-23
1579. VANGUARD SHORT-TERM TREASURY INDEX FUND   2016-09-29 2018-03-23
64.407 WELLS FARGO SPECIAL MIDCAP VALUE FUND:INSTITUTIONAL CLASS   2017-12-14 2018-03-23
1859.494 WELLS FARGO SPECIAL MIDCAP VALUE FUND:INSTITUTIONAL CLASS   2016-12-20 2018-03-23
868.396 WILLIAM BLAIR FDS ALLOC I   2014-04-03 2018-03-23
65.775 WILLIAM BLAIR FDS ALLOC I   2015-01-05 2018-03-23
838.338 WILLIAM BLAIR FDS ALLOC I   2016-05-03 2018-03-23
2764.861 AQR EQUITY MARKET NEUTRAL I   2015-11-17 2018-07-03
155.149 AQR EQUITY MARKET NEUTRAL I   2016-05-03 2018-07-03
1667.736 AQR EQUITY MARKET NEUTRAL I   2016-07-14 2018-07-03
2163.887 AQR EQUITY MARKET NEUTRAL I   2016-09-02 2018-07-03
195.982 AQR MANAGED FUTURES STRATEGY HV I   2015-08-17 2018-07-03
734.947 AQR MANAGED FUTURES STRATEGY HV I   2015-08-17 2018-07-03
218.939 AQR MANAGED FUTURES STRATEGY HV I   2016-06-24 2018-07-03
699.385 AQR MANAGED FUTURES STRATEGY HV I   2016-06-29 2018-07-03
51.034 DOUBLELINE FLEXIBLE INCOME FD I   2015-12-22 2018-07-03
1109.816 GOLDMAN SACHS L/S CREDITSTRATEGY   2014-10-09 2018-07-03
40.089 GOLDMAN SACHS L/S CREDITSTRATEGY   2014-10-23 2018-07-03
182.489 GOLDMAN SACHS L/S CREDITSTRATEGY   2015-01-05 2018-07-03
2549.986 GOLDMAN SACHS L/S CREDITSTRATEGY   2015-01-23 2018-07-03
782.108 GOLDMAN SACHS L/S CREDITSTRATEGY   2015-02-12 2018-07-03
1313.418 GOLDMAN SACHS L/S CREDITSTRATEGY   2015-07-23 2018-07-03
3749.617 GOLDMAN SACHS L/S CREDITSTRATEGY   2015-08-17 2018-07-03
3465.927 GOLDMAN SACHS L/S CREDITSTRATEGY   2015-10-29 2018-07-03
169.808 GOLDMAN SACHS L/S CREDITSTRATEGY   2015-12-22 2018-07-03
.832 ASG MANAGED FUTURES STRAG FD   2018-04-11 2018-07-03
20.924 ASG MANAGED FUTURES STRAG FD   2018-04-11 2018-07-03
126.271 ASG MANAGED FUTURES STRAG FD   2014-09-03 2018-07-03
697.764 ASG MANAGED FUTURES STRAG FD   2014-09-03 2018-07-03
72.731 ASG MANAGED FUTURES STRAG FD   2015-01-05 2018-07-03
287.467 ASG MANAGED FUTURES STRAG FD   2016-06-24 2018-07-03
641.98 ASG MANAGED FUTURES STRAG FD   2016-06-29 2018-07-03
12268. STEELCASE INC. CLASS A COMMON   1976-12-28 2018-08-09
1467. INVESCO DB COMMDY INDEX   2016-03-15 2018-08-10
874. STEELCASE CALL OPTION $15 10/19/18   2018-09-28 2018-08-10
2200. STEELCASE INC. CLASS A COMMON   1913-10-10 2018-08-10
200. STEELCASE INC. CLASS A COMMON   1913-10-10 2018-09-25
19973. STEELCASE INC. CLASS A COMMON   1913-10-10 2018-09-28
8495. STEELCASE INC. CLASS A COMMON   1950-01-01 2018-09-28
58732. STEELCASE INC. CLASS A COMMON   1976-12-28 2018-09-28
CAPITAL GAIN DIVIDENDS P    
(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 3,923     3,923
b 1,220     1,220
c 57   57  
d 19,220   20,540 -1,320
e 519   550 -31
2,308   2,429 -121
30,702   33,880 -3,178
10,763   10,418 345
71,687   67,760 3,927
425,602   446,461 -20,859
264,510   276,361 -11,851
20,298   20,091 207
87,530   84,595 2,935
19,746   19,344 402
1,350   1,328 22
26,782   26,349 433
12,040   12,082 -42
58,739   58,344 395
21,116   20,108 1,008
3,313   3,247 66
7,188   7,034 154
2,920   2,849 71
56,357   19,390 36,967
17,268   6,574 10,694
1,099   428 671
3,454   1,350 2,104
1,413   887 526
6,593   4,143 2,450
16,954   10,396 6,558
42,751   19,953 22,798
5,795   2,993 2,802
2,843   1,467 1,376
1,859   1,752 107
875   818 57
1,531   1,448 83
11,262   10,182 1,080
885   680 205
4,763   3,615 1,148
54,711   40,996 13,715
1,157   920 237
8,778   7,003 1,775
18,441   13,591 4,850
20,415   15,032 5,383
49,757   42,383 7,374
3,621   3,354 267
15,132   6,782 8,350
27,388   12,275 15,113
3,329   2,541 788
6,809   5,157 1,652
757   572 185
7,112   5,393 1,719
100,625   76,959 23,666
59,722   39,684 20,038
23,780   19,980 3,800
3,702   3,177 525
997   848 149
1,044   889 155
1,282   1,100 182
1,282   1,098 184
1,661   1,437 224
1,709   1,479 230
47   41 6
427   370 57
40,221   19,823 20,398
9,227   5,046 4,181
269   143 126
1,523   819 704
2,508   1,334 1,174
1,881   1,007 874
2,687   1,473 1,214
3,762   2,026 1,736
1,165   901 264
9,854   7,674 2,180
1,971   1,541 430
31,333   19,761 11,572
9,828   6,658 3,170
5,936   4,030 1,906
195   130 65
292   198 94
487   325 162
1,557   1,054 503
1,070   1,016 54
4,768   4,541 227
292   290 2
47,152   19,958 27,194
3,856   1,783 2,073
6,059   2,830 3,229
1,102   515 587
1,102   899 203
6,830   5,599 1,231
11,457   9,012 2,445
209,276   139,067 70,209
14,508   10,546 3,962
7,368   7,502 -134
13,096   12,560 536
15,998   14,663 1,335
6,671   6,985 -314
13,289   14,377 -1,088
20,381   21,959 -1,578
1,383   1,486 -103
12,062   13,068 -1,006
370   400 -30
63,782   63,298 484
329   304 25
76,874   67,116 9,758
276,936   254,100 22,836
105,599   84,778 20,821
24,324   19,632 4,692
37,749   30,790 6,959
19,598   19,438 160
31,515   31,087 428
47,636   39,347 8,289
72,510   61,340 11,170
37,321   31,089 6,232
35,490   30,970 4,520
93,289   65,848 27,441
78,622   54,338 24,284
94,722   96,651 -1,929
2,343   2,462 -119
67,648   67,760 -112
10,186   11,142 -956
772   797 -25
9,834   9,599 235
30,773   32,017 -1,244
1,727   1,789 -62
18,562   19,246 -684
24,084   24,928 -844
1,625   2,269 -644
6,093   8,643 -2,550
1,815   2,393 -578
5,798   7,672 -1,874
502   491 11
10,177   11,464 -1,287
368   412 -44
1,673   1,772 -99
23,383   24,709 -1,326
7,172   7,649 -477
12,044   12,845 -801
34,384   36,484 -2,100
31,783   33,481 -1,698
1,557   1,615 -58
8   8  
202   207 -5
1,219   1,423 -204
6,733   7,780 -1,047
702   809 -107
2,774   3,116 -342
6,195   7,036 -841
172,253   123 172,130
25,129   25,408 -279
23,274     23,274
31,093   8 31,085
2,996   1 2,995
304,510   70 304,440
129,516   7 129,509
895,434   587 894,847
      67,531
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       3,923
b       1,220
c        
d       -1,320
e       -31
      -121
      -3,178
      345
      3,927
      -20,859
      -11,851
      207
      2,935
      402
      22
      433
      -42
      395
      1,008
      66
      154
      71
      36,967
      10,694
      671
      2,104
      526
      2,450
      6,558
      22,798
      2,802
      1,376
      107
      57
      83
      1,080
      205
      1,148
      13,715
      237
      1,775
      4,850
      5,383
      7,374
      267
      8,350
      15,113
      788
      1,652
      185
      1,719
      23,666
      20,038
      3,800
      525
      149
      155
      182
      184
      224
      230
      6
      57
      20,398
      4,181
      126
      704
      1,174
      874
      1,214
      1,736
      264
      2,180
      430
      11,572
      3,170
      1,906
      65
      94
      162
      503
      54
      227
      2
      27,194
      2,073
      3,229
      587
      203
      1,231
      2,445
      70,209
      3,962
      -134
      536
      1,335
      -314
      -1,088
      -1,578
      -103
      -1,006
      -30
      484
      25
      9,758
      22,836
      20,821
      4,692
      6,959
      160
      428
      8,289
      11,170
      6,232
      4,520
      27,441
      24,284
      -1,929
      -119
      -112
      -956
      -25
      235
      -1,244
      -62
      -684
      -844
      -644
      -2,550
      -578
      -1,874
      11
      -1,287
      -44
      -99
      -1,326
      -477
      -801
      -2,100
      -1,698
      -58
       
      -5
      -204
      -1,047
      -107
      -342
      -841
      172,130
      -279
      23,274
      31,085
      2,995
      304,440
      129,509
      894,847
       
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 2,089,563
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 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))
2018 350,215 6,898,384 0.050768
2017 381,520 6,776,665 0.056299
2016 381,378 7,620,944 0.050043
2015 388,711 7,592,168 0.051199
2014 349,357 6,942,023 0.050325
2
Total of line 1, column (d) .....................
2
0.258634
3
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 ......
3
0.051727
4
Enter the net value of noncharitable-use assets for 2019 from Part X, line 5......
4
6,972,656
5
Multiply line 4 by line 3......................
5
360,675
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
22,147
7
Add lines 5 and 6........................
7
382,822
8
Enter qualifying distributions from Part XII, line 4,.............
8
363,260
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 (2019)
Form 990-PF (2019)
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 Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
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 44,295
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 0
3 Add lines 1 and 2........................... 3 44,295
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 44,295
6 Credits/Payments:
a 2019 estimated tax payments and 2018 overpayment credited to 2019 6a 9,103
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 47,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 56,103
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 238
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 11,570
11 Enter the amount of line 10 to be: Credited to 2020 estimated taxBullet11,570 RefundedBullet 11 0
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 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
 
 
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)
    bulletMI
    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 2019 or the taxable year beginning in 2019? See the 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. ...............................
    10
     
    No
    Form 990-PF (2019)
    Form 990-PF (2019)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    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 addressbullet  
    14
    The books are in care ofbulletCLARITY FAMILY OFFICE Telephone no.bullet (616) 450-0490

    Located atbullet7125 HEADLEY STREET STE 213ADAMI ZIP+4bullet49301
    15
    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
    15
     
    16 At any time during calendar year 2019, 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
    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 instructions ........
    1b
     
     
    ........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 2019?.............
    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 2019, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2019?.............
    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 2019 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 2019.)..................
    3b
     
     
    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 2019?
    4b
     
    No
    Form 990-PF (2019)
    Form 990-PF (2019)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (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 4945(d)(4)(A)? 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
     
     
    .........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
     
     
    8
    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? .................
    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
    JANE N WELCH PRESIDENT
    1     		0    
    732 ST GEORGES CT
    NAPLES,FL34110
    CHARLES B WELCH TREASURER
    1     		0    
    1851 BASSETT ST 410
    DENVER,CO80202
    THOMAS B WELCH VICE PRESIDENT
    1     		0    
    7379 THORNAPPLE PINES DR SE
    GRAND RAPIDS,MI49546
    ELIZABETH M WELCH SECRETARY
    1     		0    
    955 CAMBRIDGE SE
    GRAND RAPIDS,MI49506
    JOHN B WELCH TRUSTEE
    1     		0    
    1555 NW QUAIL CIRCLE
    STUART,FL34994
    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 0
    Form 990-PF (2019)
    Form 990-PF (2019)
    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
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    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 (2019)
    Form 990-PF (2019)
    Page 8
    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
    6,858,514
    b
    Average of monthly cash balances.......................
    1b
    220,325
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    7,078,839
    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
    0
    3
    Subtract line 2 from line 1d.........................
    3
    7,078,839
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    106,183
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    6,972,656
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    348,633
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    348,633
    2a
    Tax on investment income for 2019 from Part VI, line 5......
    2a
    44,295
    b
    Income tax for 2019. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    44,295
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    304,338
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    304,338
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    304,338
    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
    363,260
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    363,260
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    363,260
    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 (2019)
    Form 990-PF (2019)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2018     		(c)
    2018     		(d)
    2019
    1 Distributable amount for 2019 from Part XI, line 7 304,338
    2 Undistributed income, if any, as of the end of 2019:
    a Enter amount for 2018 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2019:
    a From 2014...... 20,030
    b From 2015...... 12,601
    c From 2016...... 4,557
    d From 2017...... 45,723
    e From 2018...... 23,162
    fTotal of lines 3a through e........ 106,073
    4Qualifying distributions for 2019 from Part
    XII, line 4: bullet$ 363,260
    a Applied to 2018, but not more than line 2a 0
    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 2019 distributable amount..... 304,338
    e Remaining amount distributed out of corpus 58,922
    5 Excess distributions carryover applied to 2019. 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 5 164,995
    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 2018. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2019. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2020 ..........     		0
    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 2014 not
    applied on line 5 or line 7 (see instructions) ...     		20,030
    9Excess distributions carryover to 2020.
    Subtract lines 7 and 8 from line 6a ......     		144,965
    10 Analysis of line 9:
    a Excess from 2015.... 12,601
    b Excess from 2016.... 4,557
    c Excess from 2017.... 45,723
    d Excess from 2018.... 23,162
    e Excess from 2019.... 58,922
    Form 990-PF (2019)
    Form 990-PF (2019)
    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 2019, 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) 2019 (b) 2018 (c) 2017 (d) 2016
             
    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).)
    NONE
    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.
    NONE
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2019)
    Form 990-PF (2019)
    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)
    aPaid during the year
    KIDS FOOD BASKET
    2055 OAK INDUSTRIAL DR NE
    GRAND RAPIDS,MI49505     		NONE PC GENERAL SUPPORT 5,000
    BAXTER COMMUNITY CENTER
    935 BAXTER ST SE
    GRAND RAPIDS,MI49503     		NONE PC GENERAL SUPPORT 25,000
    MICHIGAN LEAGUE OF
    CONSERVATION VOTERS
    40 MONROE CTR STE 200
    GRAND RAPIDS,MI49503     		NONE PC GENERAL CONTRIBUTION 5,000
    DA BLODGETT SERVICES
    FOR CHILDREN
    805 LEONARD ST NE
    GRAND RAPIDS,MI49503     		NONE PC GENERAL SUPPORT 5,000
    GRAND RAPIDS URBAN LEAGUE
    745 EASTERN AVENUE SE
    GRAND RAPIDS,MI49503     		NONE PC GENERAL SUPPORT 2,500
    YWCA - GRAND RAPIDS
    25 SHELDON BLVD SE
    GRAND RAPIDS,MI49503     		NONE 501(C)(3) NEW CRISIS CENTER 25,000
    MEL TROTTER MINISTRIES
    225 COMMERCE AVE SW
    GRAND RAPIDS,MI49503     		NONE PC GENERAL SUPPORT 20,000
    CAMP HENRY
    47 JEFFERSON AVE SE
    GRAND RAPIDS,MI49503     		NONE PC GENERAL SUPPORT 5,000
    HOME REPAIR SERVICES
    1100 S DIVISION AVE
    GRAND RAPIDS,MI49507     		NONE PC MAKING IT HOME AUCTION 2,500
    LAND CONSERVANCY OF WEST MICHIGAN
    400 ANN STREET
    GRAND RAPIDS,MI49504     		NONE PC GENERAL CONTRIBUTION 25,000
    EAST GRAND RAPIDS SCHOOLS
    2915 HALL ST SE
    GRAND RAPIDS,MI49506     		NONE PC GENERAL SUPPORT 25,000
    FAMILY FUTURES
    678 FRONT AVENUE STE 210
    GRAND RAPIDS,MI49504     		NONE PC GENERAL SUPPORT 2,500
    SAFE HAVEN MINISTRIES
    3501 LAKE EASTBROOK BLVD
    GRAND RAPIDS,MI49546     		NONE PC GENERAL SUPPORT 25,000
    DISABILITY ADVOCATES OF KENT CNTY
    3600 CAMELOT DRIVE SE
    GRAND RAPIDS,MI49546     		NONE PC GENERAL SUPPORT 20,000
    VOLUNTEERS OF MUSKEGON COUNTY
    ANIMAL CONTROL
    1300 EAST KEATING AVE
    MUSKEGON,MI49442     		NONE PC GENERAL CONTRIBUTION 5,000
    COUNCIL OF MICHIGAN FOUNDATIONS
    1 S HARBOR DR STE 3
    GRAND HAVEN,MI49417     		NONE 501(A) GREEN AND BLUE NETWORK 3,000
    MINNEAPOLIS HEART
    INSTITUTE FOUNDATION
    920 E 28TH ST
    MINNEAPOLIS,MN55407     		NONE PC RESEARCH & EDUCATION 10,000
    NAPLES COMMUNITY HOSPITAL
    350 7TH STREET N
    NAPLES,FL34102     		NONE PC GENERAL SUPPORT 7,500
    ST MARY'S EPISCOPAL CHURCH
    9801 BONITA BEACH
    BONITA SPRINGS,FL34135     		NONE PC GENERAL SUPPORT 5,500
    WEST MICHIGAN CENTER
    FOR ARTS & TECHNOLOGY
    98 E FULTON ST
    GRAND RAPIDS,MI49503     		NONE PC CAPITAL CAMPAIGN FUND 100,000
    MISSION ARLINGTON
    MISSION METROPLEX INC
    210 W SOUTH STREET
    ARLINGTON,TX76010     		NONE PC GENERAL SUPPORT 10,000
    SUNSHINE AFTER RAIN MINISTRIES
    10024 REGAL PARK LANE
    DALLAS,TX75230     		NONE PC WOUNDED WARRIORS 5,000
    I UNDERSTAND LOVE HEALS
    PO BOX 822
    ADA,MI49301     		NONE PC GENERAL CONTRIBUTION 5,000
    COMMUNITY FOOD CLUB
    1100 S DIVISION AVE
    GRAND RAPIDS,MI49507     		NONE PC GENERAL CONTRIBUTION 10,000
    YOUNG LIFE
    420 N CASCADE AVENUE
    COLORADO SPRINGS,CO80903     		NONE PC GENERAL FUND 3,000
    Total .................................bullet 3a 356,500
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2019)
    Form 990-PF (2019)
    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
    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 ...........     		      0 770
    4 Dividends and interest from securities....       0 158,697
    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 ............     		      0 2,089,563
    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)..   0 2,249,030
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,249,030
    (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.)
    4 INVESTMENT INCOME EARNED BY THIS TRUST
    8 IS USED TO MAKE CHARITABLE CONTRIBUTIONS.
    3 .
    Form 990-PF (2019)
    Form 990-PF (2019)
    Page 13
    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 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    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) (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) 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 name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2019)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2017 AccountingFeesSchedule
    Name:
    JAMES AND JANE WELCH FOUNDATION
    EIN:
    38-2927749
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE 1,000 500   500

    TY 2017 InvestmentsOtherSchedule2
    Name:
    JAMES AND JANE WELCH FOUNDATION
    EIN:
    38-2927749
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ISHARES TR S&P SMALLCAP 600 IN AT COST 44,194 69,094
    BALTER LONG/SHORT EQ FD AT COST 101,436 121,550
    BOSTON PARTNERS LONG/SHORT RES AT COST 93,221 104,939
    DOUBLELINE TOTAL RETURN BOND AT COST 170,099 160,477
    HARDING LOEVNER INTL EQUITY AT COST 240,065 334,862
    VANGUARD FTSE EMERGING MKTS AT COST 108,889 148,666
    ISHARES CORE MSCI EAFE ETF AT COST 143,673 174,169
    VANGUARD INTL EQUITY INDEX AT COST 39,314 47,353
    VANGUARD SMALL CAP GROWTH AT COST 33,933 46,830
    DIAMOND HILL LARGE CAP I AT COST 299,967 345,957
    T ROWE PRICE GROWTH STOCK FD AT COST 273,747 359,051
    ISHARES TR S&P MIDCAP 400 AT COST 158,425 172,506
    S&P 500 INDEX ISHARES AT COST 635,326 709,870
    HARBOR SC GROWTH OPPORTUNITIES AT COST 81,010 97,759
    JOHN HANCOCK US GLOBAL LEADERS AT COST 324,030 382,572
    VICTORY INTEGRITY SMALL-CAP VA AT COST 81,010 87,829
    LAZARD INTL EQ PORTFOLIO AT COST 270,025 271,586
    T ROWE PRICE INTL FDS AT COST 135,015 130,906
    T ROWE PRICE INSTL INTL AT COST 405,040 360,490
    INVESCO DB COMMDY INDEX AT COST 95,970 107,371
    INVESCO CONVERT SEC Y AT COST 402,165 429,192
    DODGE & COX INCOME FD AT COST 161,954 159,216
    VANGUARD HIGH YIELD CORPORATE AT COST 215,450 216,199
    VANGUARD TOTAL BOND MARKET ADM AT COST 323,248 319,546
    HARBOUR VEST ACCESS-2017GLOBAL AT COST 108,750 133,493
    MAGNITUDE INTERNATIONAL - CLAS AT COST 250,000 248,617

    TY 2017 OtherDecreasesSchedule
    Name:
    JAMES AND JANE WELCH FOUNDATION
    EIN:
    38-2927749
    Description Amount
    ROUNDING ADJUSTMENT 3


    TY 2017 OtherExpensesSchedule
    Name:
    JAMES AND JANE WELCH FOUNDATION
    EIN:
    38-2927749
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK SERVICE FEES 4,668 4,668   0
    BANK SERVICE FEES 26,036 26,036   0
    OTHER MISC CHARITABLE EXPENSES 5,070 0   5,070


    TY 2017 OtherProfessionalFeesSchedule
    Name:
    JAMES AND JANE WELCH FOUNDATION
    EIN:
    38-2927749
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 942 942    


    TY 2017 TaxesSchedule
    Name:
    JAMES AND JANE WELCH FOUNDATION
    EIN:
    38-2927749
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX - PRIOR YEA 26,000 0   0
    FOREIGN TAXES ON QUALIFIED FOR 1,736 1,736   0
    FOREIGN TAXES PAID - NQDI 400 400   0