-
TIN:
Form
990-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.
Go to
www.irs.gov/Form990PF
for instructions and the latest information.
OMB No. 1545-0052
20
19
Open to Public Inspection
For calendar year 2019, or tax year beginning
01-01-2019
, and ending
12-31-2019
Name of foundation
DAVE & CHERYL DUFFIELD FOUNDATION
% CHRIS WATTS
Number and street (or P.O. box number if mail is not delivered to street address)
341 SKI WAY Suite 102-103
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
INCLINE VILLAGE
,
NV
89451
A Employer identification number
47-4279721
B
Telephone number (see instructions)
(775) 461-2707
C
If exemption application is pending, check here
G
Check all that apply:
Initial return
Initial return of a former public charity
Final return
Amended return
Address change
Name change
D 1.
Foreign organizations, check here.............
2
. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
If private foundation status was terminated
under section 507(b)(1)(A), check here .......
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 .......
I
Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)
$
292,261,460
J
Accounting method:
Cash
Accrual
Other (specify)
(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)
1
Contributions, gifts, grants, etc., received (attach schedule)
51,658,425
2
Check
.............
3
Interest on savings and temporary cash investments
580,982
513,594
4
Dividends and interest from securities
...
3,080,291
3,080,291
5a
Gross rents
............
b
Net rental income or (loss)
6a
Net gain or (loss) from sale of assets not on line 10
14,418,709
b
Gross sales price for all assets on line 6a
179,572,324
7
Capital gain net income (from Part IV, line 2)
...
127,454,709
8
Net short-term capital gain
.........
9
Income modifications
...........
10a
Gross sales less returns and allowances
b
Less: Cost of goods sold
....
c
Gross profit or (loss) (attach schedule)
.....
11
Other income (attach schedule)
.......
3,783
12
Total.
Add lines 1 through 11
........
69,738,407
131,052,377
13
Compensation of officers, directors, trustees, etc.
96,154
4,808
91,346
14
Other employee salaries and wages
......
43,983
43,983
15
Pension plans, employee benefits
.......
61,649
2,481
50,548
16a
Legal fees (attach schedule)
.........
10,062
0
0
10,062
b
Accounting fees (attach schedule)
.......
38,835
34,951
0
1,500
c
Other professional fees (attach schedule)
....
1,045,972
988,929
64,468
17
Interest
...............
913
913
18
Taxes (attach schedule) (see instructions)
...
1,399,853
48,853
19
Depreciation (attach schedule) and depletion
...
20
Occupancy
..............
37,785
1,889
35,896
21
Travel, conferences, and meetings
.......
24,577
24,577
22
Printing and publications
..........
23
Other expenses (attach schedule)
.......
30,636
10,458
20,314
24
Total operating and administrative expenses.
Add lines 13 through 23
..........
2,790,419
1,092,369
0
343,607
25
Contributions, gifts, grants paid
.......
5,472,070
7,902,456
26
Total expenses and disbursements.
Add lines 24 and 25
8,262,489
1,092,369
0
8,246,063
27
Subtract line 26 from line 12:
a
Excess of revenue over expenses and disbursements
61,475,918
b
Net investment income
(if negative, enter -0-)
129,960,008
c
Adjusted net income
(if negative, enter -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
1
Cash—non-interest-bearing
.............
460,339
1,777,657
1,777,657
2
Savings and temporary cash investments
.........
1,624,564
6,055,320
6,055,320
3
Accounts receivable
Less: allowance for doubtful accounts
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)
Less: allowance for doubtful accounts
8
Inventories for sale or use
..............
9
Prepaid expenses and deferred charges
..........
0
8,400
8,400
10a
Investments—U.S. and state government obligations (attach schedule)
4,852,641
8,596,062
8,596,062
b
Investments—corporate stock (attach schedule)
.......
165,381,968
163,628,087
163,628,087
c
Investments—corporate bonds (attach schedule)
.......
14,362,318
61,475,369
61,475,369
11
Investments—land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
12
Investments—mortgage loans
.............
13
Investments—other (attach schedule)
..........
26,460,658
50,368,866
50,368,866
14
Land, buildings, and equipment: basis
114,878
Less: accumulated depreciation (attach schedule)
0
114,878
114,878
15
Other assets (describe
)
0
236,821
236,821
16
Total assets
(to be completed by all filers—see the
instructions. Also, see page 1, item I)
213,142,488
292,261,460
292,261,460
17
Accounts payable and accrued expenses
..........
7,560
32,454
18
Grants payable
.................
3,642,746
1,212,360
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)
.........
3,650,306
1,244,814
Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24
Net assets without donor restrictions
...........
209,492,182
291,016,646
25
Net assets with donor restrictions
............
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26
Capital stock, trust principal, or current funds
........
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)
.....
209,492,182
291,016,646
30
Total liabilities and net assets/fund balances
(see instructions)
.
213,142,488
292,261,460
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
209,492,182
2
Enter amount from Part I, line 27a
.....................
2
61,475,918
3
Other increases not included in line 2 (itemize)
3
20,048,546
4
Add lines 1, 2, and 3
..........................
4
291,016,646
5
Decreases not included in line 2 (itemize)
5
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29
.
6
291,016,646
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
AVAILABLE UPON REQUEST
P
b
AVAILABLE UPON REQUEST
P
c
FORM 6787, PART I
P
d
FORM 6781, PART I
P
e
WORKDAY (WDAY)
D
(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
17,251,266
17,230,959
20,307
b
21,617,963
21,622,028
-4,065
c
104,707
0
104,707
d
157,060
0
157,060
e
127,183,700
7,000
127,176,700
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
20,307
b
-4,065
c
104,707
d
157,060
e
127,176,700
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
127,454,709
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))
2018
8,538,180
120,398,222
0.070916
2017
2,782,859
112,337,937
0.024772
2016
328,331
102,059,786
0.003217
2015
0
0
0.0
2014
2
Total
of line 1, column (d)
.....................
2
0.098905
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
0.024726
4
Enter the net value of noncharitable-use assets for 2019 from Part X, line 5
......
4
243,426,495
5
Multiply line 4 by line 3
......................
5
6,018,964
6
Enter 1% of net investment income (1% of Part I, line 27b)
...........
6
1,299,600
7
Add lines 5 and 6
........................
7
7,318,564
8
Enter qualifying distributions from Part XII, line 4
,.............
8
8,246,063
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
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
1,299,600
here
and enter 1% of Part I, line 27b
...................
c
All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2
Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)
2
3
Add lines 1 and 2
...........................
3
1,299,600
4
Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)
4
5
Tax based on investment income.
Subtract line 4 from line 3. If zero or less, enter -0-
.....
5
1,299,600
6
Credits/Payments:
a
2019 estimated tax payments and 2018 overpayment credited to 2019
6a
1,489,096
b
Exempt foreign organizations—tax withheld at source
......
6b
c
Tax paid with application for extension of time to file (Form 8868)
...
6c
d
Backup withholding erroneously withheld
...........
6d
7
Total credits and payments. Add lines 6a through 6d
..............
7
1,489,096
8
Enter any
penalty
for underpayment of estimated tax.
Check here
if Form 2220 is attached.
8
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
189,496
11
Enter the amount of line 10 to be:
Credited to 2020 estimated tax
189,496
Refunded
11
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign?
....................
1a
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see 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.
$
(2)
On foundation managers.
$
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.
$
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
Yes
b
If "Yes," has it filed a tax return on
Form 990-T
for this year?
...................
4b
Yes
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)
NV
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
No
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
Yes
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
Website address
N/A
14
The books are in care of
CHRIS WATTS
Telephone no.
(775) 833-7818
Located at
956 LAKESHORE BLVD
INCLINE VILLAGE
NV
ZIP+4
89451
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of
Form 1041
—check here
.........
and enter the amount of tax-exempt interest received or accrued during the year
........
15
16
At any time during calendar year 2019, did the foundation have an interest in or a signature or other authority over
Yes
No
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
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?
Yes
No
(2)
Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person?
......................
Yes
No
(3)
Furnish goods, services, or facilities to (or accept them from) a disqualified person?
Yes
No
(4)
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
Yes
No
(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)?
...............
Yes
No
(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.)
.......
Yes
No
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
No
Organizations relying on a current notice regarding disaster assistance check here
........
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?
.............
Yes
No
If "Yes," list the years
20
,
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
c
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
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year?
......................
Yes
No
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))?
Yes
No
(2)
Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive?
.............
Yes
No
(3)
Provide a grant to an individual for travel, study, or other similar purposes?
Yes
No
(4)
Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions
................
Yes
No
(5)
Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals?
.....
Yes
No
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
Organizations relying on a current notice regarding disaster assistance check here
.........
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?
..........
Yes
No
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?
.....................
Yes
No
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?
Yes
No
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?
.................
Yes
No
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
JERLEEN BRYANT
PRESIDENT
40.0
96,154
49,616
0
341 SKI WAY
INCLINE VILLAGE
,
NV
89451
DAVID DUFFIELD
Board Member
1.0
0
0
0
PO BOX 6714
INCLINE VILLAGE
,
NV
89450
CHERYL DUFFIELD
Board Member
1.0
0
0
0
PO BOX 6714
INCLINE VILLAGE
,
NV
89450
CHRIS WATTS
TREASURER
4.0
0
0
0
PO BOX 6714
INCLINE VILLAGE
,
NV
89450
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
Total
number of other employees paid over $50,000
...................
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
MORGAN STANLEY
INVESTMNT MANAGEMENT
441,646
5390 KIETZKE LN STE 200
RENO
,
NV
89511
GOLDMAN SACHS & CO LLC
INVESTMNT MANAGEMENT
416,226
PO BOX 581500
SALT LAKE CITY
,
UT
841581500
TIEDEMANN
INVESTMNT MANAGEMENT
66,678
520 MADISON AVE 26TH FL
NEW YORK
,
NY
10022
GRADUATE HOTELS
INVESTMNT MANAGEMENT
60,030
133 N JEFFERSON ST 4TH FL
CHICAGO
,
IL
60661
KPMG LLP
TAX SERVICES
38,835
PO BOX 120922
DALLAS
,
TX
753120922
Total
number of others receiving over $50,000 for professional services
.............
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
.........................
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
237,379,368
b
Average of monthly cash balances
.......................
1b
9,754,129
c
Fair market value of all other assets (see instructions)
................
1c
0
d
Total
(add lines 1a, b, and c)
.........................
1d
247,133,497
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation)
.............
1e
2
Acquisition indebtedness applicable to line 1 assets
..................
2
0
3
Subtract line 2 from line 1d
.........................
3
247,133,497
4
Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
instructions)
.............................
4
3,707,002
5
Net value of noncharitable-use assets.
Subtract line 4 from line 3. Enter here and on Part V, line 4
5
243,426,495
6
Minimum investment return.
Enter 5% of line 5
..................
6
12,171,325
Part XI
Distributable Amount
(see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here
and do not complete this part.)
1
Minimum investment return from Part X, line 6
....................
1
12,171,325
2a
Tax on investment income for 2019 from Part VI, line 5
......
2a
1,299,600
b
Income tax for 2019. (This does not include the tax from Part VI.)
...
2b
c
Add lines 2a and 2b
............................
2c
1,299,600
3
Distributable amount before adjustments. Subtract line 2c from line 1
............
3
10,871,725
4
Recoveries of amounts treated as qualifying distributions
................
4
5
Add lines 3 and 4
............................
5
10,871,725
6
Deduction from distributable amount (see instructions)
.................
6
7
Distributable amount
as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1
...
7
10,871,725
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
8,246,063
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
8,246,063
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
1,299,600
6
Adjusted qualifying distributions.
Subtract line 5 from line 4
..............
6
6,946,463
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
10,871,725
2
Undistributed income, if any, as of the end of 2019:
a
Enter amount for 2018 only
.......
2,783,959
b
Total for prior years:
2017
,
2016
,
2015
3
Excess distributions carryover, if any, to 2019:
a
From 2014
......
b
From 2015
......
c
From 2016
......
d
From 2017
......
e
From 2018
......
0
f
Total
of lines 3a through e
........
0
4
Qualifying distributions for 2019 from Part
XII, line 4:
$
8,246,063
a
Applied to 2018, but not more than line 2a
2,783,959
b
Applied to undistributed income of prior years
(Election required—see instructions)
.....
c
Treated as distributions out of corpus (Election
required—see instructions)
........
d
Applied to 2019 distributable amount
.....
5,462,104
e
Remaining amount distributed out of corpus
0
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).)
6
Enter 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
..........
c
Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed
......
d
Subtract line 6c from line 6b. Taxable amount
—see instructions
...........
e
Undistributed income for 2018. Subtract line
4a from line 2a. Taxable amount—see
instructions
.............
f
Undistributed income for 2019. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2020
..........
5,409,621
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)
.......
8
Excess distributions carryover from 2014 not
applied on line 5 or line 7 (see instructions)
...
9
Excess distributions carryover to 2020.
Subtract lines 7 and 8 from line 6a
......
0
10
Analysis of line 9:
a
Excess from 2015
....
b
Excess from 2016
....
c
Excess from 2017
....
d
Excess from 2018
....
e
Excess from 2019
....
0
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
.......
b
Check box to indicate whether the organization is a private operating foundation described in section
4942(j)(3)
or
4942(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)
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.)
1
Information Regarding Foundation Managers:
a
List 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).)
b
List 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.
2
Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here
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
a
The name, address, and telephone number or email address of the person to whom applications should be addressed:
b
The form in which applications should be submitted and information and materials they should include:
c
Any submission deadlines:
d
Any 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)
a
Paid during the year
A Path 4 Paws Dog Rescue
PO Box 751364
Las Vegas
,
NV
89136
N/A
PC
Animal welfare
7,400
Amor Peludo
6716 Crystal Run Lane
Las Vegas
,
NV
89122
N/A
PC
Animal welfare
2,000
Animal Network LV
3396 Sagewood St
Las Vegas
,
NV
89147
N/A
PC
Animal welfare
3,200
Animal Rescue Group of Northern Nevada (ARGONN)
PO Box 1
Fernley
,
NV
89408
N/A
PC
Animal welfare
6,100
Another Chance Inc
PO Box 502
Dayton
,
NV
89043
N/A
PC
Animal welfare We the People class support
2,800
Boulder City Animal Control
810 Yucca Street
Boulder City
,
NV
89005
N/A
PC
Animal welfare School sport team support School theater improvement project Student safety program support
3,400
Boys & Girls Club of North Lake Tahoe
8125 Steelhead Avenue
Kings Beach
,
CA
96143
N/A
PC
Founding grant for Incline Village chapter
200,000
Canine Rehabilitation Center and Sanctuary (CRCS)
555 US Hwy 395 North
Washoe Valley
,
NV
89704
N/A
PC
Animal welfare
1,400
Carson Tahoe SPCA
PO Box 4351
Carson City
,
NV
89702
N/A
PC
Animal welfare
1,000
Chihuahua Rescue Truckee Meadows
5303 Louie Lane 19
Reno
,
NV
89511
N/A
PC
Animal welfare
1,800
Churchill Animal Protection Society
PO Box 5128
Fallon
,
NV
89407
N/A
PC
Animal welfare
2,400
City of Elko Animal Shelter
1751 College Ave
Elko
,
NV
89801
N/A
PC
Animal welfare
7,600
City of Ely Animal Control
1003 Lacawana Road
Ely
,
NV
89301
N/A
PC
Animal welfare
1,800
City of Henderson Animal Care & Control
300 E Galleria Dr
Henderson
,
NV
89011
N/A
PC
Animal welfare
13,800
City of Mesquite Animal Shelter
795 Hardy Way
Mesquite
,
NV
89027
N/A
PC
Animal welfare
10,600
Connor and Millie's Dog Rescue
9030 W Sahara Ave 384
Las Vegas
,
NV
89117
N/A
PC
Animal welfare
3,400
Desert Haven Animal Society
1511 Siri Lane
Pahrump
,
NV
89060
N/A
PC
Animal welfare
2,600
Douglas County Animal Services
PO Box 218
Minden
,
NV
89423
N/A
PC
Animal welfare
2,600
Fallon Animal Welfare Group (FAWG)
1951 W Williams Ave PMB 377
Fallon
,
NV
89406
N/A
PC
Animal welfare
1,800
Friends For Life Humane Society
4311 E Thousandaire Blvd
Pahrump
,
NV
89061
N/A
PC
Animal welfare
3,800
Furgotten Friends Dog Rescue
8544 Blue Diamond RdSte 145
Las Vegas
,
NV
89178
N/A
PC
Animal welfare
800
Hearts Alive Village
1750 South Rainbow Blvd 4
Las Vegas
,
NV
89146
N/A
PC
Animal welfare
21,400
Heaven Can Wait Animal Society
546 N Eastern Suite 175
Las Vegas
,
NV
89101
N/A
PC
Animal welfare
400
Homeward Bound Cats Adoptions
2675 East Flamingo Road Suite 3
Las Vegas
,
NV
89121
N/A
PC
Animal welfare
6,000
Humane Network
7250 Pembroke Drive
Reno
,
NV
89502
N/A
PC
Animal welfare
1,817,000
Incline High School
499 Village Blvd
Incline Village
,
NV
89451
N/A
PC
We the People class support
15,000
Incline High School Boosters
499 Village Blvd
Incline Village
,
NV
89451
N/A
PC
Fundraiser support
600,440
Incline-Tahoe Parks and Rec Vision Foundation
948 Incline Way
Incline Village
,
NV
89451
N/A
PC
Community park facilities renovation
717,516
Lake Tahoe School
995 Tahoe Blvd
Incline Village
,
NV
89451
N/A
PC
School campus expansion matching grant
1,700,000
Las Vegas Rescue Center
2575 W Horizon Ridge Pkwy 420
Henderson
,
NV
89052
N/A
PC
Animal welfare
1,800
Lifeskills Ranch Program Inc
1967 Alder Creek Loop Road
Saint Maries
,
ID
83861
N/A
PC
2019 LIFESKILLS RANCH PROGRAM
5,000
Lyon County Animal Services
3705 Hwy 50 West
Silver Springs
,
NV
89429
N/A
PC
Animal welfare
1,200
Maui Humane Society
PO Box 1047
Puunene
,
HI
96784
N/A
PC
Animal welfare
235,000
Nevada Humane Society
2825B Longley Lane
Reno
,
NV
89502
N/A
PC
Animal welfare
40,000
Nevada Humane Society Carson City
549 Airport Road
Carson City
,
NV
89701
N/A
PC
Animal welfare
8,400
Nevada SPCA
4800 West Dewey Drive
Las Vegas
,
NV
89118
N/A
PC
Animal welfare
11,400
Never Forgotten Animal Society
PO Box 1193
Pahrump
,
NV
89048
N/A
PC
Animal welfare
9,000
Nothin' But Love Cat and Kitten Rescue Inc
2493 Sedona Cedar Ave
Henderson
,
NV
89052
N/A
PC
Animal welfare
4,600
PALNV
4155 N Rancho Dr 150
Las Vegas
,
NV
89130
N/A
PC
Animal welfare
1,200
Pawsibilities
3770 White Pine Dr
Washoe Valley
,
NV
89704
N/A
PC
Animal welfare
2,600
PAWSitive Difference
101 S Rainbow Road 20
Las Vegas
,
NV
89145
N/A
PC
Animal welfare
13,600
Pet Network Humane Society
401 Village Blvd
Incline Village
,
NV
89451
N/A
PC
Animal welfare
149,200
Pets Are Worth Saving (PAWS)
2031 Gamebird Road Suite C
Pahrump
,
NV
89048
N/A
PC
Animal welfare
5,600
Schwab Charitable Fund
1958 Summit Park Dr Suite 200
Orlando
,
FL
32810
N/A
PC
Community support, animal welfare or other section 170(c)(2)(B) charitable purposes
1,500,000
Second Chance Animal Rescue
4840 Conough Lane
Las Vegas
,
NV
89149
N/A
PC
Animal welfare
2,200
Shelter to Soldier
2665 Fourth Ave
San Diego
,
CA
92103
N/A
PC
Animal welfare
5,000
Sir's Rescue Rangers
8414 Farm Road Suite 180-251
Las Vegas
,
NV
89131
N/A
PC
Animal welfare
200
Southern Nevada Animal Rescue League SNARL
28 Pine Blossom Ave
North Las Vegas
,
NV
89031
N/A
PC
Animal welfare
12,000
SPCA of Northern Nevada
4950 Spectrum Blvd
Reno
,
NV
89512
N/A
PC
Animal welfare
13,400
Street Dogz
PO Box 752432
Las Vegas
,
NV
89136
N/A
PC
Animal welfare
6,200
The Animal Foundation
655 North Mojave Road
Las Vegas
,
NV
89101
N/A
PC
Animal welfare
44,000
The Churchill Foundation
2654 W Horizon Ridge Pkwy B5-361
Henderson
,
NV
89052
N/A
PC
Animal welfare
2,800
The Forgotten Dog Foundation
1112 Montana Ave Suite 166
Santa Monica
,
CA
90403
N/A
PC
Animal welfare
3,200
Vegas Pet Rescue Project
7817 Seychelles Court
Las Vegas
,
NV
89129
N/A
PC
Animal welfare
4,000
Vegas Shepherd Rescue
2620 Regatta Drive 102
Las Vegas
,
NV
89128
N/A
PC
Animal welfare
600
Washoe County School District
499 Village Blvd
Incline Village
,
NV
89451
N/A
PC
Incline High School's Competency Based Learning Project
655,000
Wylie Animal Rescue Foundation
PO Box 5364
Incline Village
,
NV
89450
N/A
PC
Animal welfare
600
Yerington Animal Shelter
217 Trowbridge Road
Yerington
,
NV
89447
N/A
PC
Animal welfare
1,800
Z's Promise Animal Rescue
889 S Rainbow Blvd 554
Las Vegas
,
NV
89145
N/A
PC
Animal welfare
4,800
Total
.................................
3a
7,902,456
b
Approved for future payment
Boys & Girls Club of North Lake Tahoe
8125 Steelhead Ave
Kings Beach
,
NV
96143
N/A
PC
Founding grant for Incline Village chapter
400,000
Lake Tahoe School
995 Tahoe Blvd
Incline Village
,
NV
89451
N/A
PC
School campus expansion matching grant
13,075
Incline-Tahoe Parks & Rec Vision Fndtn
948 Incline Way
Incline Village
,
NV
89451
N/A
PC
Community park facilities renovation
633,285
Pet Network Humane Society
401 Village Blvd
Incline Village
,
NV
89451
N/A
PC
Animal welfare
166,000
Total
.................................
3b
1,212,360
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.)
1
Program service revenue:
(a)
Business code
(b)
Amount
(c)
Exclusion code
(d)
Amount
a
b
c
d
e
f
g
Fees and contracts from government agencies
2
Membership dues and assessments
....
3
Interest on savings and temporary cash
investments
...........
14
580,982
4
Dividends and interest from securities
....
14
3,080,291
5
Net rental income or (loss) from real estate:
a
Debt-financed property
......
b
Not 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
............
520000
7,487
18
14,411,222
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)
..
7,487
18,072,495
13
Total.
Add line 12, columns (b), (d), and (e)
..................
13
18,079,982
(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
(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?
...........
Yes
No
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.
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
(2019)
Additional Data
Software ID:
Software Version:
Form 990PF - Special Condition Description:
Special Condition Description