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
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 07-01-2018 , and ending 06-30-2019
Name of foundation
LEO ADLER COMMUNITY FUND UMA
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 0634
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MILWAUKEE, WI532010634
A Employer identification number

93-6289087
B Telephone number (see instructions)

(503) 464-3580
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$22,612,896J 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      
4 Dividends and interest from securities... 530,623 524,484  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 686,342
b Gross sales price for all assets on line 6a 7,383,544
7 Capital gain net income (from Part IV, line 2)... 686,342
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)....... Click to see attachment 110,541    
12 Total. Add lines 1 through 11........ 1,327,506 1,210,826  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 265,126 238,613   26,513
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule)......... Click to see attachment 3,046 0 0 3,046
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 46,000 41,400   4,600
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 27,498 14,576   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 2,430 0 0 2,430
22 Printing and publications.......... 32,051 0 0 32,051
23 Other expenses (attach schedule)....... Click to see attachment 25,141     25,141
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 401,292 294,589 0 93,781
25 Contributions, gifts, grants paid....... 1,416,977 1,416,977
26 Total expenses and disbursements. Add lines 24 and 25 1,818,269 294,589 0 1,510,758
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -490,763
b Net investment income (if negative, enter -0-) 916,237
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets 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............. 8,553    
2 Savings and temporary cash investments......... 226,914 876,645 876,645
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)....... 10,759,840 Click to see attachment14,471,303 17,445,840
c Investments—corporate bonds (attach schedule)....... 9,033,270 Click to see attachment4,196,445 4,290,411
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1   0
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) 20,028,578 19,544,393 22,612,896
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 SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 20,028,578 19,544,393
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 20,028,578 19,544,393
31 Total liabilities and net assets/fund balances (see instructions). 20,028,578 19,544,393
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
20,028,578
2
Enter amount from Part I, line 27a .....................
2
-490,763
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
6,578
4
Add lines 1, 2, and 3 ..........................
4
19,544,393
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
19,544,393
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a 1. SECURITY LITIGATION   1911-11-11 2018-07-06
b 50000. ROYAL BANK OF CA MTN 2.200% 7/27/18   2014-02-06 2018-07-27
c 25000. WESTPAC BANKING CORP 2.250% 7/30/18   2014-02-06 2018-07-30
d 50000. WESTPAC BANKING CORP 2.250% 7/30/18   2014-02-06 2018-07-30
e 4151. IPATH GSCI TOTAL RETURN   2016-11-17 2018-07-31
3560.025 CAUSEWAY EMERGING MARKETS INSTL   2015-02-27 2018-07-31
7685.1 EATON VANCE GLOBAL MACRO FD CL I   2013-11-22 2018-07-31
316. ISHARES S&P SMALL CAP 600 INDEX FD   2014-09-30 2018-07-31
2583. ISHARES CORE MSCI EAFE ETF   2015-12-07 2018-07-31
1086. ISHARES CORE MSCI EMERGING MKTS ETF   2015-07-08 2018-07-31
2683.924 NEUBERGER BERMAN LONG SH INS   2014-02-06 2018-07-31
4397.094 NUVEEN REAL ESTATE SECS I   2014-09-30 2018-07-31
1531.878 ROBECO BOSTON PARTNERS L S RSRCH   2014-02-06 2018-07-31
761.386 T ROWE PRICE SMALL CAP STOCK FD   2014-03-26 2018-07-31
1153. STANDARD & POORS DEPOSITARY RECEIPTS   2008-09-24 2018-07-31
206. MIDCAP SPDR TRUST SERIES I E T F   2010-01-12 2018-07-31
5. IPATH GSCI TOTAL RETURN   2015-06-03 2018-08-13
25.032 FEDERATED INST HI YLD BD FD   2015-07-24 2018-08-13
6. ISHARES CORE MSCI EAFE ETF   2016-04-01 2018-08-13
11. ISHARES CORE MSCI EAFE ETF   2017-09-13 2018-08-13
7. ISHARES CORE MSCI EMERGING MKTS ETF   2015-07-24 2018-08-13
37.605 OPPENHEIMER SENIOR FLOATING RATE I   2014-04-02 2018-08-13
4.824 T ROWE PRICE SMALL CAP STOCK FD   2013-04-12 2018-08-13
6.509 VANGUARD 500 IDX ADML   2015-06-03 2018-08-13
20803.064 T ROWE PRICE INTL GRINC FD   2013-01-17 2018-09-21
32684.767 T ROWE PRICE INTL GRINC FD   2013-01-17 2018-09-21
124.931 TCW EMERGING MARKETS INCOME FUND   2013-04-12 2018-10-22
1. SECURITY LITIGATION   1911-11-11 2018-11-14
1. SECURITY LITIGATION   1911-11-11 2018-11-19
150000. RBC 24M SPX LBR MTN 11/28/18   2016-11-22 2018-11-28
2566.735 NUVEEN SHORT TERM BOND FUND CL I   2018-03-09 2018-12-11
7700.205 NUVEEN SHORT TERM BOND FUND CL I   2018-03-09 2018-12-11
11723.857 TCW EMERGING MARKETS INCOME FUND   2018-01-18 2018-12-11
9594.348 TCW EMERGING MARKETS INCOME FUND   2017-03-22 2018-12-11
18337.113 TCW EMERGING MARKETS INCOME FUND   2018-01-18 2018-12-11
17723.968 TCW EMERGING MARKETS INCOME FUND   2017-03-22 2018-12-11
2643.63 DRIEHAUS ACTIVE INCOME FUND   2013-01-17 2019-01-18
3108.635 DRIEHAUS ACTIVE INCOME FUND   2013-01-17 2019-01-18
4014.953 EATON VANCE GLOBAL MACRO FD CL I   2013-11-22 2019-01-18
3948.45 EATON VANCE GLOBAL MACRO FD CL I   2013-11-22 2019-01-18
2786.924 LOOMIS SAYLES STRATEGIC ALPHA FUND Y   2013-01-17 2019-01-18
2519.976 LOOMIS SAYLES STRATEGIC ALPHA FUND Y   2013-01-17 2019-01-18
1151.42 NUVEEN REAL ESTATE SECS I   2015-03-24 2019-01-18
719.167 NUVEEN REAL ESTATE SECS I   2014-09-30 2019-01-18
20470.829 NUVEEN SHORT TERM BOND FUND CL I   2014-09-30 2019-01-18
142. STANDARD & POORS DEPOSITARY RECEIPTS   2010-03-25 2019-01-18
267. VANGUARD GLBL EX US REAL ESTATE ETF   2018-01-18 2019-01-18
442. VANGUARD GLBL EX US REAL ESTATE ETF   2018-01-18 2019-01-18
225. VANGUARD GLBL EX US REAL ESTATE ETF   2017-07-21 2019-01-18
80.457 DOUBLELINE TOTAL RET BD I   2018-04-26 2019-02-19
1. BANK OF AMERICA CLASS ACTION PROCEEDS   1911-11-11 2019-02-19
1. BANK OF AMERICA CLASS ACTION PROCEEDS   2019-02-19 2019-02-19
1821.763 CAMBIAR INTL EQUITY FUND INS   2015-12-07 2019-02-20
2422. INVESCO FTSE RADI DEVELOPED ETF   2018-09-21 2019-02-20
4238. INVESCO FTSE RADI DEVELOPED ETF   2018-09-21 2019-02-20
985. ISHARES CORE MSCI EAFE ETF   2015-12-07 2019-02-20
10193.68 NUVEEN SHORT TERM BOND FUND CL I   2015-01-27 2019-02-20
517.598 T ROWE PRICE SMALL CAP STOCK FD   2014-12-03 2019-02-20
517.598 T ROWE PRICE SMALL CAP STOCK FD   2014-03-26 2019-02-20
100. MIDCAP SPDR TRUST SERIES I E T F   2010-01-12 2019-02-20
96. MIDCAP SPDR TRUST SERIES I E T F   2010-01-12 2019-02-20
582.909 VANGUARD 500 IDX ADML   2015-02-27 2019-02-20
669.47 VANGUARD 500 IDX ADML   2015-01-27 2019-02-20
1. AMEDISYS INC   2019-03-22 2019-03-22
1. AMEDISYS INC   1911-11-11 2019-03-22
160000. BMO 24M SPX LBR MTN 3/29/19   2017-03-28 2019-03-29
300000. BMO 24M SPX LBR MTN 3/29/19   2017-03-28 2019-03-29
80000. RBC 24M IWR LBR MTN 4/02/19   2017-03-28 2019-03-29
150000. RBC 24M IWR LBR MTN 4/02/19   2017-03-28 2019-03-29
1. AMERICAN INTL GROUP INC   2019-04-17 2019-04-17
5692.924 AQR LONG SHORT EQUITY I   2018-03-08 2019-05-10
3541.473 AQR LONG SHORT EQUITY I   2018-03-08 2019-05-13
7102.527 INVESCO OPPENHEIMER SENIOR FLOATING   2013-01-17 2019-06-18
19735.607 INVESCO OPPENHEIMER SENIOR FLOATING   2012-11-19 2019-06-18
121.831 INVESCO OPPENHEIMER SENIOR FLOATING   2014-04-02 2019-06-18
1500.754 AQR LONG SHORT EQUITY I   2018-03-08 2019-06-18
2915.231 AQR LONG SHORT EQUITY I   2018-03-08 2019-06-18
8965.21 INV BALANCE RISK COMM STR Y   2017-03-22 2019-06-18
16561.741 INV BALANCE RISK COMM STR Y   2017-03-22 2019-06-18
7498. IPATH GSCI TOTAL RETURN   2017-03-22 2019-06-18
7559. IPATH GSCI TOTAL RETURN   2016-11-17 2019-06-18
45. IPATH GSCI TOTAL RETURN   2015-06-03 2019-06-18
6226.586 DRIEHAUS ACTIVE INCOME FUND   2013-01-17 2019-06-18
15735.541 DRIEHAUS ACTIVE INCOME FUND   2013-01-17 2019-06-18
67.449 DRIEHAUS ACTIVE INCOME FUND   2011-09-28 2019-06-18
9456.485 EATON VANCE GLOBAL MACRO FD CL I   2013-11-22 2019-06-18
19986.587 EATON VANCE GLOBAL MACRO FD CL I   2014-03-26 2019-06-18
81.095 FEDERATED INST HI YLD BD FD   2015-07-24 2019-06-18
2333.309 HIGHLAND LONG SHORT EQUITY Z   2016-01-22 2019-06-18
2765.737 HIGHLAND LONG SHORT EQUITY Z   2011-10-05 2019-06-18
10930.597 HIGHLAND LONG SHORT EQUITY Z   2011-10-25 2019-06-18
8. ISHARES CORE MSCI EAFE ETF   2019-02-19 2019-06-18
11. ISHARES CORE MSCI EAFE ETF   2016-04-01 2019-06-18
6. ISHARES CORE MSCI EMERGING MKTS ETF   2019-02-19 2019-06-18
23. ISHARES CORE MSCI EMERGING MKTS ETF   2015-07-24 2019-06-18
6564.087 LOOMIS SAYLES STRATEGIC ALPHA FUND Y   2012-09-13 2019-06-18
12755.818 LOOMIS SAYLES STRATEGIC ALPHA FUND Y   2012-09-13 2019-06-18
95.466 LOOMIS SAYLES STRATEGIC ALPHA FUND Y   2013-04-09 2019-06-18
6617.3 NEUBERGER BERMAN LONG SH INS   2013-07-23 2019-06-18
11221.074 NEUBERGER BERMAN LONG SH INS   2013-07-23 2019-06-18
1940.523 NUVEEN REAL ESTATE SECS I   2015-03-24 2019-06-18
3040.407 NUVEEN REAL ESTATE SECS I   2014-03-26 2019-06-18
23. PARSLEY ENERGY INC-CLASS A   2019-05-10 2019-06-18
5592.827 ROBECO BOSTON PARTNERS L S RSRCH   2014-02-12 2019-06-18
10042.727 ROBECO BOSTON PARTNERS L S RSRCH   2013-11-22 2019-06-18
17.8 T ROWE PRICE SMALL CAP STOCK FD   2013-04-12 2019-06-18
1.451 T ROWE PRICE SMALL CAP STOCK FD   2019-02-19 2019-06-18
1.591 T ROWE PRICE SMALL CAP STOCK FD   2018-10-22 2019-06-18
778. VANGUARD GLBL EX US REAL ESTATE ETF   2017-07-21 2019-06-18
1198. VANGUARD GLBL EX US REAL ESTATE ETF   2017-07-21 2019-06-18
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 11     11
b 50,000   50,926 -926
c 25,000   25,435 -435
d 50,000   50,869 -869
e 69,321   54,585 14,736
47,135   42,827 4,308
67,783   71,103 -3,320
26,966   16,578 10,388
168,167   144,926 23,241
58,579   48,468 10,111
40,339   33,388 6,951
90,009   100,454 -10,445
25,705   21,740 3,965
40,216   34,326 5,890
324,058   140,012 184,046
73,846   27,680 46,166
80   104 -24
244   245 -1
376   314 62
689   700 -11
360   316 44
305   316 -11
259   184 75
1,699   1,274 425
301,852   292,953 8,899
474,256   447,806 26,450
982   1,114 -132
12     12
13     13
171,000   150,000 21,000
25,000   25,051 -51
75,000   75,154 -154
90,625   99,459 -8,834
74,164   80,209 -6,045
141,746   155,356 -13,610
137,006   148,172 -11,166
24,982   28,445 -3,463
29,377   33,449 -4,072
34,408   36,885 -2,477
33,838   36,116 -2,278
27,005   28,900 -1,895
24,419   26,132 -1,713
22,372   29,338 -6,966
13,973   16,030 -2,057
200,000   203,372 -3,372
37,845   16,692 21,153
14,753   16,789 -2,036
24,420   27,797 -3,377
12,431   13,023 -592
842   838 4
77     77
416     416
46,018   45,417 601
99,111   106,665 -7,554
173,424   186,642 -13,218
59,208   54,904 4,304
100,000   101,223 -1,223
25,088   24,137 951
25,088   23,173 1,915
35,001   13,437 21,564
33,601   12,899 20,702
150,297   113,533 36,764
172,616   125,425 47,191
37     37
112     112
186,400   160,000 26,400
349,500   300,000 49,500
93,600   80,000 13,600
175,500   150,000 25,500
26     26
61,085   79,815 -18,730
37,681   49,651 -11,970
55,542   59,421 -3,879
154,332   164,496 -10,164
953   1,022 -69
16,328   21,041 -4,713
31,718   40,872 -9,154
56,212   60,157 -3,945
103,842   111,129 -7,287
106,994   100,095 6,899
107,789   99,400 8,389
642   774 -132
58,468   66,910 -8,442
147,757   169,159 -21,402
633   680 -47
81,893   88,155 -6,262
173,084   186,193 -13,109
793   793  
26,996   25,643 1,353
32,000   29,649 2,351
126,467   119,034 7,433
483   479 4
664   576 88
302   307 -5
1,157   1,038 119
64,197   67,054 -2,857
124,752   130,513 -5,761
934   977 -43
94,164   81,380 12,784
159,676   136,212 23,464
42,789   45,929 -3,140
67,041   66,476 565
423   470 -47
84,340   80,145 4,195
151,444   141,878 9,566
903   678 225
74   70 4
81   81  
45,687   46,205 -518
70,321   69,340 981
      214,315
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       11
b       -926
c       -435
d       -869
e       14,736
      4,308
      -3,320
      10,388
      23,241
      10,111
      6,951
      -10,445
      3,965
      5,890
      184,046
      46,166
      -24
      -1
      62
      -11
      44
      -11
      75
      425
      8,899
      26,450
      -132
      12
      13
      21,000
      -51
      -154
      -8,834
      -6,045
      -13,610
      -11,166
      -3,463
      -4,072
      -2,477
      -2,278
      -1,895
      -1,713
      -6,966
      -2,057
      -3,372
      21,153
      -2,036
      -3,377
      -592
      4
      77
      416
      601
      -7,554
      -13,218
      4,304
      -1,223
      951
      1,915
      21,564
      20,702
      36,764
      47,191
      37
      112
      26,400
      49,500
      13,600
      25,500
      26
      -18,730
      -11,970
      -3,879
      -10,164
      -69
      -4,713
      -9,154
      -3,945
      -7,287
      6,899
      8,389
      -132
      -8,442
      -21,402
      -47
      -6,262
      -13,109
       
      1,353
      2,351
      7,433
      4
      88
      -5
      119
      -2,857
      -5,761
      -43
      12,784
      23,464
      -3,140
      565
      -47
      4,195
      9,566
      225
      4
       
      -518
      981
       
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 2 686,342
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))
2017 1,487,533 23,426,106 0.063499
2016 1,412,061 22,413,795 0.063
2015 1,630,242 22,181,170 0.073497
2014 1,534,515 10,626,642 0.144403
2013 1,274,525 24,605,349 0.051799
2
Total of line 1, column (d) .....................
2
0.396198
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
0.07924
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
21,960,850
5
Multiply line 4 by line 3......................
5
1,740,178
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
9,162
7
Add lines 5 and 6........................
7
1,749,340
8
Enter qualifying distributions from Part XII, line 4,.............
8
1,510,758
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here 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 18,325
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 18,325
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 18,325
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 24,720
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 24,720
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 6,395
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet6,395 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)
    bulletOR
    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 2018 or the taxable year beginning in 2018? 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 (2018)
    Form 990-PF (2018)
    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 ofbulletUS BANK Telephone no.bullet (503) 464-3580

    Located atbullet555 SW OAKPORTLANDOR ZIP+4bullet97204
    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 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    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
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    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 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    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
     
     
    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 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    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 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    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
    U S BANK TRUSTEE
    1     		265,126    
    PO BOX 3168
    PORTLAND,OR97208
    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 (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    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 (2018)
    Form 990-PF (2018)
    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
    21,677,455
    b
    Average of monthly cash balances.......................
    1b
    617,824
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    22,295,279
    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
    22,295,279
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    334,429
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    21,960,850
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,098,043
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,098,043
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    18,325
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    18,325
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,079,718
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    110,541
    5
    Add lines 3 and 4............................
    5
    1,190,259
    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
    1,190,259
    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
    1,510,758
    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
    1,510,758
    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
    1,510,758
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 1,190,259
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 25,382
    b From 2014...... 1,029,689
    c From 2015...... 393,901
    d From 2016...... 159,110
    e From 2017...... 227,903
    fTotal of lines 3a through e........ 1,835,985
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 1,510,758
    a Applied to 2017, 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 2018 distributable amount..... 1,190,259
    e Remaining amount distributed out of corpus 320,499
    5 Excess distributions carryover applied to 2018. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 2,156,484
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		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 2013 not
    applied on line 5 or line 7 (see instructions) ...     		25,382
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		2,131,102
    10 Analysis of line 9:
    a Excess from 2014.... 1,029,689
    b Excess from 2015.... 393,901
    c Excess from 2016.... 159,110
    d Excess from 2017.... 227,903
    e Excess from 2018.... 320,499
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in 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) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    MICHAEL SULLIVAN CO US BANK
    PO BOX 7928
    BOISE,ID83707
    (208) 383-7217
    bThe form in which applications should be submitted and information and materials they should include:
    FORMS, INFORMATION AND MATERIALS: CONTACT ABOVE AVAILABLE UPON REQUEST
    cAny submission deadlines:
    NOT APPLICABLE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    SCHOLARSHIPS TO WORTHY STUDENTS WHO ARE GRADUATES OF HIGH SCHOOLS IN BAKER COUNTY, OREGON GRANTS TO TAX EXEMPT ORGANIZATIONS IN THE BAKER COUNTY OREGON AREA
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    BAKER CO 4HFFA LIVESTOCK AUCTION
    2600 EAST STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,412
    SHRINER'S HOSPITAL FOOD CARAVAN
    2790 MAIN STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,650
    BAKER COMMUNITY CHOIR INC
    1055 IDLEWOOD DR
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,500
    GRANDE RONDE SYMPHONY ASSOCIATION
    P O BOX 824
    LA GRANDE,OR97850     		NONE PC GENERAL SUPPORT 3,000
    BURNT RIVER SCHOOL DIST 30J
    201 S 1ST AVE
    UNITY,OR97884     		NONE PC GENERAL SUPPORT 20,000
    CORNUCOPIA ARTS COUNCIL
    PO BOX 921
    HALFWAY,OR97834     		NONE PC GENERAL SUPPORT 2,000
    BAKER COUNTY COMMUNITY LITERACY
    2400 RESORT STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 4,000
    NORTH POWDER SCHOOL DIST 8J
    PO BOX 10
    NORTH POWDER,OR97867     		NONE PC GENERAL SUPPORT 12,500
    NORTH POWDER CITY LIBRARY
    PO BOX 309
    NORTH POWDER,OR97867     		NONE PC GENERAL SUPPORT 1,500
    COLUMBIA UNIVERSITY
    1255 AMSTERDAM AVENUE
    NEW YORK,NH10027     		NONE PC SCHOLARSHIP 3,400
    KANSAS STATE UNIVERSITY
    212 ANDERSON HALL
    MANHATTAN,KS66506     		NONE PC SCHOLARSHIP 15,600
    OTTERBEIN UNIVERSTIY
    1 OTTERBEIN COLLEGE
    WESTERVILLE,OH43081     		NONE PC GENERAL SUPPORT 4,400
    UNIVERSITY OF CALIFORNIA LOS ANGELES
    BOX 957089 1125 MURPHY HALL
    LOS ANGELES,CA90095     		NONE PC SCHOLARSHIP 3,400
    UNIVERSITY OF WYOMING
    1000 E UNIVERSITY AVE
    LARAMIE,WY82071     		NONE PC SCHOLARSHIP 10,200
    WASHINGTON STATE UNIVERSITY
    1815 WILSON RD
    PULLMAN,WA99164     		NONE PC SCHOLARSHIP 13,600
    RENAISSANCE ACADEMIE
    1460 N MOON RIVER DR
    PROVO,UT84604     		NONE PC GENERAL SUPPORT 4,400
    THE UNIVERSITY OF EDINBURGH
    OLD COLLEGE
    EDINBURGH   EH8 9YL
    UK     		NONE PC SCHOLARSHIP 5,800
    JOHNSON UNIVERSITY
    ATTN FINANCIAL AID
    7900 JOHNSON DRIVE
    KNOXVILLE,TN37998     		NONE PC SCHOLARSHIP 4,400
    CHAMBERLAIN UNIVERSITY
    2149 W DUNLAP AVE
    PHOENIX,AZ85021     		NONE PC SCHOLARSHIP 2,933
    OREGON JUNIOR GOLF
    2480 HAZELNUT DRIVE
    WOODBURN,OR97071     		NONE PC GENERAL SUPPORT 2,500
    LOYOLA MARYMOUNT UNIVERSITY
    ONE LMU DRIVE
    LOS ANGELES,CA90045     		NONE PC SCHOLARSHIP 3,467
    EASTERN OREGON REGIONAL THEATER INC
    2101 MAIN STREET STE 221
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 3,300
    ANGELO STATE UNIVERSITY
    2601 W AVENUE N
    SAN ANGELO,TX76909     		NONE PC SCHOLARSHIP 3,400
    BAKER CITY FIREMAN'S FUND
    PO BOX 650
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 600
    BAKER CITY FIRST PRESBYTERIAN CHURCH
    1995 4TH STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 6,000
    BAKER COMMUNITY SPORTS COMPLEX
    2790 MAIN STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 20,000
    BAKER COUNTY DEVELOPMENT CORPORATION
    1995 THIRD STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 20,000
    BAKER COUNTY LIBRARY DISTRICT
    2400 RESORT STREET
    BAKER COUNTY,OR97814     		NONE PC GENERAL SUPPORT 10,000
    BAKER COUNTY LIBRARY FOUNDATION
    2400 RESORT STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 5,000
    BAKER COUNTY SHERIFF SEARCH & RESCUE
    3375 K STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 9,000
    BAKER HERITAGE MUSEUM
    2480 GROVE STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 15,000
    BAKER LITTLE LEAGUE
    2790 MAIN STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 10,700
    BAKER LOVES BIKES
    2023 1/2 MAIN STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 4,800
    BAKER SCHOOL DISTRICT 5J
    2090 4TH STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 23,000
    BAKER SWIM TEAM
    PO BOX 452
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 5,000
    BEL-REA INSTITUTE
    1681 S DAYTON STREET
    DENVER,CO80247     		NONE PC GENERAL SUPPORT 2,800
    BEST FRIENDS OF BAKER INC
    PO BOX 183
    BAKER CITY,CO97814     		NONE PC GENERAL SUPPORT 3,000
    BETHANY COLLEGE
    31 E CAMPUS DR
    BETHANY,WV26032     		NONE PC GENERAL SUPPORT 4,400
    BLUE MOUNTAIN COMMUNITY COLLEGE
    PO BOX 100
    PENDLETON,OR97801     		NONE PC GENERAL SUPPORT 63,464
    BOISE STATE UNIVERSITY
    1910 UNIVERSITY DR
    BOISE,ID83725     		NONE PC SCHOLARSHIP 55,500
    BRIGHAM YOUNG UNIVERSITY
    A-41 ASB
    PROVO,UT84602     		NONE PC SCHOLARSHIP 11,400
    BRIGHAM YOUNG UNIVERSITY-IDAHO
    KIMBALL BUILDING 1610
    REXBURG,ID83460     		NONE PC SCHOLARSHIP 46,350
    CALIFORNIA POLYTECHNIC STATE UNIV
    ADMINISTRATION BUILDING ROOM 2112
    SAN LUIS OBISPO,CA93407     		NONE PC GENERAL SUPPORT 5,200
    CALIFORNIA UNIV OF PENNSYLVANIA
    250 UNIVERSITY AVE
    CALIFORNIA,PA15419     		NONE PC GENERAL SUPPORT 2,800
    CALVARY BAPTIST CHURCH
    2130 FOUTH STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,500
    CAPELLA UNIVERSITY
    PO BOX 1450
    MINNEAPOLIS,MN55485     		NONE PC SCHOLARSHIP 2,400
    CASA OF EASTERN OREGON
    1937 WASHINGTON AVE
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 10,000
    CENTRAL OREGON COMMUNITY COLLEGE
    2600 NW COLLEGE WAY
    BEND,OR977015998     		NONE PC GENERAL SUPPORT 35,734
    CENTRAL WASHINGTON UNIVERSITY
    400 EAST UNIVERSITY WAY
    ELLENSBURG,WA989267495     		NONE PC SCHOLARSHIP 2,800
    CHEMEKETA COMMUNITY COLLEGE
    PO BOX 14007
    SALEM,OR973097070     		NONE PC GENERAL SUPPORT 2,400
    CHURCH OF JESUS CHRIST OF LATTER-DAY
    2625 HUGHES LANE
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 6,000
    CHURCH OF NAZARENE
    PO BOX 665
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,500
    CITY OF BAKER CITY
    1616 2ND STREET
    BAKER CITY,OR978140650     		NONE PC GENERAL SUPPORT 13,750
    COLLEGE OF HAIR DESIGN CAREERS
    1684 CLAY STREET NE
    SALEM,OR97301     		NONE PC GENERAL SUPPORT 2,600
    COLLEGE OF WESTERN IDAHO
    PO BOX 3010
    NAMPA,IN83653     		NONE PC GENERAL SUPPORT 2,800
    COLORADO MOUNTAIN COLLEGE
    802 GRAND AVE
    GLENWOOD SPRINGS,CO81601     		NONE PC GENERAL SUPPORT 3,400
    COLUMBIA BASIN COLLEGE
    2600 N 20TH AVE
    PASCO,WA99301     		NONE PC GENERAL SUPPORT 2,268
    COLUMBIA GORGE COMMUNITY COLLEGE
    1730 COLLEGE WAY
    HOOD RIVER,OR970311275     		NONE PC GENERAL SUPPORT 3,400
    CONCORDIA UNIVERSITY
    2811 NE HOLMAN STREET
    PORTLAND,OR97211     		NONE PC SCHOLARSHIP 3,400
    COTTEY COLLEGE
    1000 W AUSTIN
    NEVADA,MO64772     		NONE PC GENERAL SUPPORT 6,000
    CROSSROADS CREATIVE & PERFORMING
    2020 AUBURN AVE
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 14,000
    DIGIPEN INSTITUTE OF TECHNOLOGY
    9931 WILLOWS RD
    REDMOND,WA98052     		NONE PC GENERAL SUPPORT 5,200
    EASTERN OREGON HEAD START
    1927 16TH STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,944
    EASTERN OREGON MUSEUM
    610 THIRD STREET
    HAINES,OR97833     		NONE PC GENERAL SUPPORT 1,900
    EASTERN OREGON UNIVERSITY
    1 UNIVERSITY BLVD
    LAGRANDE,OR978502899     		NONE PC SCHOLARSHIP 155,754
    FIRST CHRISTIAN CHURCH
    675 HIGHWAY 7
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,500
    FIRST LUTHERAN CHURCH
    1734 THIRD
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,500
    FIRST PRESBYTERIAN CHURCH
    1995 FOURTH STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,500
    GONZAGA UNIVERSITY SCHOOL OF LAW
    721 N CINCINNATI ST
    SPOKANE,WA992203528     		NONE PC SCHOLARSHIP 5,200
    GRAND CANYON UNIVERSITY
    PO BOX 11097
    PHOENIX,AZ850611097     		NONE PC SCHOLARSHIP 2,800
    GREATER BOWEN VALLEY RURAL FIRE
    PO BOX 613
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 9,000
    HEARTS & PETALS
    1788 MAIN STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 110
    HUNTINGTON SCHOOL DISTRICT 16J
    520 THIRD STREET EAST
    HUNTINGTON,OR97907     		NONE PC GENERAL SUPPORT 42,285
    KIWANIS INTERNATIONAL
    PO BOX 132
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 3,688
    LANE COMMUNITY COLLEGE
    4000 E 30TH AVENUE
    EUGENE,OR97405     		NONE PC GENERAL SUPPORT 6,800
    LIBERTY UNIVERSITY
    PO BOX 10425
    LYNCHBURG,VA24506     		NONE PC SCHOLARSHIP 8,800
    LINN BENTON COMMUNITY COLLEGE
    6500 PACIFIC BLVD SW
    ALBANY,OR97321     		NONE PC GENERAL SUPPORT 43,034
    LINN-BENTON COMMUNITY COLLEGE
    6500 PACIFIC BLVD SW
    ALBANY,OR97321     		NONE PC GENERAL SUPPORT 2,400
    MONTANA STATE UNIVERSITY
    PO BOX 174160
    BOZEMAN,MT59717     		NONE PC SCHOLARSHIP 22,800
    MONTANA STATE UNIVERSITY-BOZEMAN
    PO BOX 174160
    BOZEMAN,MT59717     		NONE PC SCHOLARSHIP 3,400
    MT HOOD COMMUNITY COLLEGE
    26000 SE STARK
    GRESHAM,OR97030     		NONE PC GENERAL SUPPORT 3,400
    MUSIC CAMPS WALLOWA LAKE
    PO BOX 636
    LAGRANDE,OR97850     		NONE PC GENERAL SUPPORT 5,000
    NEW DIRECTIONS NORTHWEST INC
    PO BOX 1005
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 20,000
    NEW HOPE FOR EASTERN OREGON ANIMALS
    PO BOX 146
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,500
    NORTH POWDER CHARTER SCHOOL
    PO BOX 10
    NORTH POWDER,OR97867     		NONE PC GENERAL SUPPORT 5,200
    NORTH POWDER RURAL FIRE PROTECTION
    PO BOX 196
    NORTH POWDER,OR97867     		NONE PC GENERAL SUPPORT 25,000
    NORTHEAST OREGON COMPASSION CENTER
    1250 HUGHES LANE
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 2,500
    NORTHERN WYOMING COMMUNITY COLLEGE
    PO BOX 1500
    SHERIDAN,WY82801     		NONE PC GENERAL SUPPORT 2,600
    NORTHWEST COLLEGE
    231 W SIXTH STREET
    POWELL,WY82435     		NONE PC GENERAL SUPPORT 8,600
    NORTHWEST NAZARENE UNIVERSITY
    623 UNIVERSITY BLVD
    NAMPA,ID83686     		NONE PC SCHOLARSHIP 6,500
    OKLAHOMA STATE UNIVERSITY
    119 STUDENT UNION
    STILLWATER,OK74078     		NONE PC SCHOLARSHIP 3,400
    OLD DOMINION UNIVERSITY
    108 ALFRED B ROLLINS JR HALL
    NORFOLK,VA23529     		NONE PC SCHOLARSHIP 4,400
    OREGON HEALTH & SCIENCE UNIVERSITY
    3181 SW SAM JACKSON PARK RD
    PORTLAND,OK97239     		NONE PC SCHOLARSHIP 6,200
    OREGON HISTORICAL SOCIETY
    1200 SW PARK AVE
    PORTLAND,OR97205     		NONE PC GENERAL SUPPORT 1,500
    OREGON INSTITUTE OF TECHNOLOGY
    3201 CAMPUS DR
    KLAMATH FALLS,OR97601     		NONE PC GENERAL SUPPORT 12,800
    OREGON STATE UNIVERSITY
    218 KERR ADMIN BLDG
    CORVALLIS,OR97331     		NONE PC SCHOLARSHIP 149,200
    PACIFIC UNIVERSITY
    2043 COLLEGE WAY - UC PO BOX 675
    FOREST GROVE,OR97116     		NONE PC SCHOLARSHIP 4,400
    PORTLAND COMMUNITY COLLEGE
    2305 SE 82ND DIVISION
    PORTLAND,OR97216     		NONE PC GENERAL SUPPORT 4,400
    PORTLAND STATE UNIVERSITY
    PO BOX 202
    PORTLAND,OR97207     		NONE PC SCHOLARSHIP 9,000
    PURDUE UNIVERSITY
    610 PURDUE MALL - HOVDE HALL
    WEST LAFAYETTE,IN47907     		NONE PC SCHOLARSHIP 4,400
    RACHEL PREGNANCY CENTER
    2192 COURT AVE
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 5,000
    ROBISON JEWISH SOCIETY
    6125 SW BOUNDARY STREET
    PORTLAND,OR97221     		NONE PC GENERAL SUPPORT 1,500
    SIERRA NEVADA COLLEGE
    999 TAHOE BLVD
    INCLINE VILLAGE,NV89451     		NONE PC GENERAL SUPPORT 2,400
    SOUTH DAKOTA STATE UNIVERSITY
    SAD 136 BOX 2201
    BROOKINGS,SD57007     		NONE PC SCHOLARSHIP 5,200
    SOUTHERN OREGON UNIVERSITY
    1250 SISKIYOU BLVD
    ASHLAND,OR97520     		NONE PC SCHOLARSHIP 2,400
    ST ALPHONSUS FOUNDATION BAKER CITY
    3325 POCAHONTAS ROAD
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 42,034
    ST LUKES REGIONAL MEDICAL CENTER
    190 EAST BANNOCK
    BOISE,ID83712     		NONE PC GENERAL SUPPORT 15,000
    ST FRANCIS CATHOLIC CHURCH
    2235 FIRST
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,500
    ST STEPHENS EPISCOPAL CHURCH
    2177 FIRST
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,500
    SUNY PURCHASE
    735 ANDERSON HILL ROAD
    PURCHASE,NY10577     		NONE PC GENERAL SUPPORT 3,400
    TENNIS ASSOCIATION OF BAKER
    1630 CAMPBELL STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 11,500
    THE ART INSTITUTE OF PORTLAND
    1122 NW DAVIS STREET
    PORTLAND,OR97209     		NONE PC GENERAL SUPPORT 3,400
    THE SALON PROFESSIONAL ACADEMY
    120 HOLLY STREET
    NAMPA,ID83686     		NONE PC GENERAL SUPPORT 5,200
    THE SALVATION ARMY
    2505 BROADWAY
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 10,000
    TREASURE VALLEY COMMUNITY COLLEGE
    650 COLLEGE BLVD
    ONTARIO,OR97914     		NONE PC GENERAL SUPPORT 36,300
    UMPQUA COMMUNITY COLLEGE
    1140 COLLEGE RD
    ROSEBURG,OR97470     		NONE PC GENERAL SUPPORT 4,400
    UNITED METHODIST CHURCH
    1919 SECOND STREET
    BAKER CITY,OR97814     		NONE PC GENERAL SUPPORT 1,500
    UNIVERSITY OF CINCINNATI
    230 UNIVERSITY PAVILLION
    CINCINNATI,OH45221     		NONE PC SCHOLARSHIP 5,800
    UNIVERSITY OF DELAWARE
    104 HULLIHEN HALL
    NEWARK,DE19716     		NONE PC SCHOLARSHIP 5,800
    UNIVERSITY OF HAWAII AT MANOA
    2600 CAMPUS RD
    HONOLULU,HI96822     		NONE PC SCHOLARSHIP 4,400
    UNIVERSITY OF IDAHO
    875 PERIMETER DRIVE MS 4291
    MOSCOW,ID83844     		NONE PC SCHOLARSHIP 13,000
    UNIVERSITY OF MARY WASHINGTON
    1301 COLLEGE AVE
    FREDERICKSBURG,VA22401     		NONE PC SCHOLARSHIP 4,400
    UNIVERSITY OF OREGON
    1278 UNIVERSITY OF OREGON
    EUGENE,OR97403     		NONE PC SCHOLARSHIP 20,600
    UNIVERSITY OF PORTLAND
    5000 N WILLIAMETTE BLVD
    PORTLAND,OR97203     		NONE PC SCHOLARSHIP 5,800
    UNIVERSITY OF UTAH
    201 S 1460 E RM 165
    SALT LAKE CITY,UT84112     		NONE PC SCHOLARSHIP 4,400
    UNIVERSITY OF WASHINGTON - TUITION
    PO BOX 3981
    SEATTLE,WA98124     		NONE PC SCHOLARSHIP 2,600
    WALLA WALLA COMMUNITY COLLEGE
    500 TAUSICK WAY
    WALLA WALLA,WA99362     		NONE PC GENERAL SUPPORT 8,800
    WESTERN OREGON UNIVERSITY
    345 N MONMOUTH AVE
    MONMOUTH,WA97361     		NONE PC SCHOLARSHIP 12,200
    WHITWORTH UNIVERSITY
    300 W HAWTHORNE RD
    SPOKANE,WA99251     		NONE PC SCHOLARSHIP 5,800
    WILLAMETTE UNIVERSITY
    900 STATE STREET
    SALEM,OR97301     		NONE PC SCHOLARSHIP 5,200
    Total .................................bullet 3a 1,416,977
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 530,623  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 686,342  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aGRANT RECOVERIES     		    1 110,541  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   1,327,506  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,327,506
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    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 (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    LEO ADLER COMMUNITY FUND UMA
    EIN:
    93-6289087
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AMERICAN EXPRESS MTN 2.375% 5 74,200 75,545
    AMERICAN HONDA MTN 1.700% 9 71,567 74,138
    APPLE INC 2.850% 5 75,053 76,097
    BB T CORPORATION MTN 2.750% 4 24,863 25,303
    BP CAPITAL PLC 3.245% 5 24,947 25,740
    BANK OF AMERICA MTN 3.300% 1 74,983 76,637
    BANK OF MONTREAL MTN 1.900% 8 71,684 74,525
    BMO 24M EFA 2X LBR MTN 5 450,000 455,970
    BANK OF NY MTN 2.450% 11 74,162 75,299
    BANK OF NOVA SCOTIA 2.350% 10 73,802 75,053
    BOEING CO 2.125% 3 72,500 74,795
    BP CAP MARKETS 3.245% 5 50,442 51,480
    BURLINGTON NORTH 3.450% 9 75,370 76,827
    CANADIAN IMPERIAL 2.550% 6 24,505 25,273
    CARTERPILLAR MTN 1.931% 10 72,125 74,419
    CATERPILLAR M T N 3.450% 5 50,780 52,251
    CHEVRON CORP 2.193% 11 50,666 49,988
    COMCAST CORP 3.300% 10 75,094 76,028
    COVIDIEN INTL FI 3.200% 6 24,906 25,692
    JOHN DEERE CAP MTN 3.900% 7 76,055 77,579
    FIFTH THIRD BANK MTN 2.250% 6 24,516 24,994
    GILEAD SCIENCES INC 2.500% 9 72,793 75,564
    GLAXOSMITHKLINE CAP 3.375% 5 25,368 26,023
    IBM CREDIT CORP 3.600% 11 25,367 25,782
    JPMORGAN CHASE CO 3.250% 9 75,101 77,050
    JPM 24M EEM 1.5X LBR 5 160,000 159,920
    JPM 24M SPX 1.5X LBR MTN 3 250,000 258,425
    JPM 24M SPX 1.5X LBR MTN 5 230,000 235,635
    MANUF TRADERS MTN 2.625% 1 73,574 73,378
    MITSUBISHI UFJ FIN 3.535% 7 75,278 76,687
    NATL RURAL UTIL COOP 3.050% 2 75,020 76,421
    OCCIDENTAL PETE 3.125% 2 74,658 76,161
    PNC BANK NA 3.800% 7 25,396 26,244
    PACCAR FINANCIAL MTN 3.150% 8 74,726 76,361
    PRAXAIR INC 2.200% 8 24,451 25,096
    QUALCOMM INC 3.000% 5 74,573 76,393
    ROYAL BANK OF MTN 3.200% 4 74,825 76,332
    RBC 24M SPX 1.5X LBR 6 345,000 353,432
    SIMON PROPERTY 3.375% 3 75,620 77,033
    TD AMERITRADE 2.950% 4 74,824 76,356
    TORONTO DOMINION MTN 2.250% 11 75,228 75,120
    TOYOTA MOTOR MTN 3.300% 1 75,546 75,701
    UNITEDHEALTH GROUP 2.875% 12 74,798 76,108
    WELLS FARGO MTN 3.500% 3 75,634 77,168
    WFC 24M SPX 1.5X LBR MTN 2 300,000 315,840
    WESTPAC BANKING CORP 3.650% 5 76,445 78,548

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    LEO ADLER COMMUNITY FUND UMA
    EIN:
    93-6289087
    Name of Stock End of Year Book Value End of Year Fair Market Value
    464287804 I SHARES S P SMALLC 208,664 282,356
    430070409 HIGHLAND LONG SHORT 133,309 142,538
    77957Y106 T ROWE PRICE MID CAP 332,986 499,176
    46432F842 ISHARES CORE MSCI EA 1,136,950 1,353,072
    06738C794 IPATH GSCI TOTAL RET    
    77956H849 T ROWE PRICE INTL GR    
    74925K581 ROBECO BOSTON PARTNE 171,353 185,406
    922908710 VANGUARD 500 INDEX A 1,125,652 1,649,494
    46434G103 ISHARES CORE MSCI EM 797,717 923,348
    00888Y508 INV BALANCE RISK COM    
    149498107 CAUSEWAY EMERGING MA 716,639 766,086
    29875E100 AMERICAN EUROPACIFIC 44,339 61,354
    779556109 ROWE T PRICE MID-CAP 425,145 732,799
    00769G543 CAMBIAR INTL EQUITY 767,236 804,166
    64128R608 NEUBERGER BERMAN LON 166,624 199,402
    78462F103 SPDR S P 500 ETF 646,214 1,808,103
    779572106 T ROWE PRICE SMALL C 319,928 393,770
    78467Y107 MIDCAP SPDR TRUST SE 20,827 54,961
    670678507 NUVEEN REAL ESTATE S 629,682 840,518
    00203H446 AQR LONG SHORT EQUIT 47,893 36,894
    922042676 VANGUARD GLBL EX US 111,418 113,575
    INVESCO OPPENHEIMER SENIOR FLO 472,452 446,439
    ALBEMARLE CORP 9,305 9,224
    ALPHABET INC CL A 21,522 20,573
    AMAZON COM INC 39,333 39,766
    AMERICAN CAMPUS COMMUNITIES 7,475 7,524
    AMERICAN TOWER CORP 13,597 14,312
    APPLE INC 15,872 16,229
    BANK OF AMERICA CORP 9,526 9,512
    CELGENE CORP 14,699 14,236
    CENTENE CORP 20,954 20,189
    CITIGROUP INC 8,976 9,244
    COSTCO WHSL CORP 8,705 9,513
    DELTA AIR LINES INC 11,764 12,088
    DOUBLELINE TOTAL RET BD I 886,230 898,943
    DRIEHAUS ACTIVE INCOME FUND 196,845 173,206
    EATON VANCE GLOBAL MACRO FD CL 235,990 220,155
    ELECTRONIC ARTS INC 11,010 11,949
    FACEBOOK INC CLASS A 23,325 24,125
    FEDERATED INST HI YLD BD FD 564,583 562,025
    FIVE BELOW 10,350 9,482
    INVESCO FTSE RAFI DEVELOPED ET 483,603 446,158
    ISHARES CORE U.S. AGGREGATE BO 450,642 452,638
    ISHARES RUSSELL MID CAP VALUE 118,428 119,345
    ISHARES IBONDS DEC TERM ETF 1,212,183 1,210,457
    J P MORGAN CHASE CO 8,851 8,944
    MARATHON PETROLEUM CORP 16,359 17,714
    MICROSOFT CORP 40,538 42,599
    MOHAWK INDS INC 8,783 8,555
    LOOMIS SAYLES STRATEGIC ALPHA 169,024 163,346
    NUVEEN STRATEGIC INCOME I 238,214 245,288
    PARSLEY ENERGY INC CLASS A 11,282 10,570
    PAYPAL HOLDINGS INC 6,883 6,753
    RAYTHEON COMPANY 15,611 15,301
    RINGCENTRAL INC CLASS A 8,909 8,619
    S P GLOBAL INC 9,343 10,023
    SCHWAB CHARLES CORP 13,312 12,137
    SCHWAB U S TIPS ETF 387,039 397,661
    SERVICENOW INC 4,840 4,668
    SPLUNK INC 5,855 6,036
    SQUARE INC A 7,540 8,559
    TIAA CREF SHORT TERM BOND FUND 802,816 807,982
    TC ENERGY CORP 4,951 4,952
    TYLER TECHNOLOGIES INC 5,789 5,617
    UNITEDHEALTH GROUP INC 19,398 19,765
    WALMART INC 14,631 16,132
    HISTORICAL WOODEN TYPE-SET 1  
    CHUBB LTD 9,850 9,721
    MYLAN NV 11,539 10,548

    TY 2018 InvestmentsOtherSchedule2
    Name:
    LEO ADLER COMMUNITY FUND UMA
    EIN:
    93-6289087
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    HISTORICAL WOODEN TYPE SET      
    COPYRIGHT REGISTRATION      

    TY 2018 LegalFeesSchedule
    Name:
    LEO ADLER COMMUNITY FUND UMA
    EIN:
    93-6289087
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES - PRINCIPAL (ALLOCA 3,046     3,046


    TY 2018 OtherExpensesSchedule
    Name:
    LEO ADLER COMMUNITY FUND UMA
    EIN:
    93-6289087
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER MISC EXPENSES 22,741 0   22,741
    CHARITABLE FILING FEE 2,400 0   2,400


    TY 2018 OtherIncomeSchedule2
    Name:
    LEO ADLER COMMUNITY FUND UMA
    EIN:
    93-6289087
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    GRANT RECOVERIES 110,541 0  


    TY 2018 OtherIncreasesSchedule
    Name:
    LEO ADLER COMMUNITY FUND UMA
    EIN:
    93-6289087
    Description Amount
    ROC ADJ ON CY SALES 2,901
    EATON VANCE ROC ADJ 3,239
    NUVEEN EARNOUT PAYMENT 182
    COST BASIS ADJ 256


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    LEO ADLER COMMUNITY FUND UMA
    EIN:
    93-6289087
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER EXPENSE (NON-DEDUCTIBLE 46,000 41,400   4,600


    TY 2018 TaxesSchedule
    Name:
    LEO ADLER COMMUNITY FUND UMA
    EIN:
    93-6289087
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 9,972 9,972   0
    FEDERAL ESTIMATES - PRINCIPAL 12,922 0   0
    FOREIGN TAXES ON NONQUALIFIED 4,604 4,604   0