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
THE ISABEL FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)111 EAST COURT STREET NO 3D
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
FLINT, MI485021649
A Employer identification number

38-2853004
B Telephone number (see instructions)

(810) 767-0136
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$67,860,040J 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... 1,421,449 1,324,963  
5a Gross rents............ 6,916 6,916  
b Net rental income or (loss) 4,326
6a Net gain or (loss) from sale of assets not on line 10 1,999,467
b Gross sales price for all assets on line 6a 13,692,841
7 Capital gain net income (from Part IV, line 2)... 1,999,467
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).......      
12 Total. Add lines 1 through 11........ 3,427,832 3,331,346  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 70,000 3,500   66,500
14 Other employee salaries and wages...... 60,000 0   60,000
15 Pension plans, employee benefits....... 12,990 650   12,340
16a Legal fees (attach schedule)......... Click to see attachment 6,898 0   6,898
b Accounting fees (attach schedule)....... Click to see attachment 135,000 130,500   4,500
c Other professional fees (attach schedule).... Click to see attachment 9,750 0   9,750
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 60,884 31,465   9,663
19 Depreciation (attach schedule) and depletion... Click to see attachment 2,590 2,590  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 13,847 628   13,219
22 Printing and publications.......... 1,325 0   1,325
23 Other expenses (attach schedule)....... Click to see attachment 173,110 168,899   4,211
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 546,394 338,232   188,406
25 Contributions, gifts, grants paid....... 2,611,578 2,611,578
26 Total expenses and disbursements. Add lines 24 and 25 3,157,972 338,232   2,799,984
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 269,860
b Net investment income (if negative, enter -0-) 2,993,114
c Adjusted net income (if negative, enter -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............. 248,737 342,690 342,690
2 Savings and temporary cash investments......... 835,775 904,199 904,199
3 Accounts receivable bullet40,661
Less: allowance for doubtful accounts bullet   38,506 40,661 40,661
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 bullet        
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)....... 39,800,447 Click to see attachment38,888,007 38,888,007
c Investments—corporate bonds (attach schedule)....... 4,869,718 Click to see attachment4,912,415 4,912,415
11 Investments—land, buildings, and equipment: basis bullet101,010
Less: accumulated depreciation (attach schedule) bullet60,479 43,121 Click to see attachment40,531 40,531
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 17,677,551 Click to see attachment18,235,594 18,235,594
14 Land, buildings, and equipment: basis bullet922
Less: accumulated depreciation (attach schedule) bullet922      
15 Other assets (describe bullet) Click to see attachment4,495,943 Click to see attachment4,495,943 Click to see attachment4,495,943
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 68,009,798 67,860,040 67,860,040
Liabilities 17 Accounts payable and accrued expenses.......... 310,000 296,000
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) Click to see attachment436,504 Click to see attachment303,565
23 Total liabilities (add lines 17 through 22)......... 746,504 599,565
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........ 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 67,263,294 67,260,475
30 Total net assets or fund balances (see instructions)..... 67,263,294 67,260,475
31 Total liabilities and net assets/fund balances (see instructions). 68,009,798 67,860,040
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
67,263,294
2
Enter amount from Part I, line 27a .....................
2
269,860
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
67,533,154
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
272,679
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
67,260,475
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 FROM ANRP (AIV II) LP K-1 P   2018-12-31
b FROM ANRP (EPE AIV) LP K-1 P   2018-12-31
c FROM ANRP (EPE AIV) LP K-1 P   2018-12-31
d FROM ANRP (EPE AIV) LP K-1 P   2018-12-31
e FROM ANRP DE HOLDINGS LP K-1 P   2018-12-31
FROM ARNP INTERNATIONAL HOLDINGS LP K-1 P   2018-12-31
FROM APOLLO NATURAL RESOURCES PARTNERS LP K-1 P   2018-12-31
FROM ARBORETUM III, LP K-1 P   2018-12-31
FROM ARBORETUM III, LP K-1 P   2018-12-31
FROM ARBORETUM VENTURES IV K-1 P   2018-12-31
FROM ARBORETUM VENTURES IV K-1 P   2018-12-31
FROM CROSSLINK VENTURES VI LP K-1 P   2018-12-31
FROM DFJ GROWTH 2013, LP K-1 P   2018-12-31
FROM DFJ GROWTH 2013, LP K-1 P   2018-12-31
FROM DRAPER FISHER JURVETSON GROWTH FUND 2006 LP K-1 P   2018-12-31
FROM DRAPER FISHER JURVETSON GROWTH FUND 2006 LP K-1 P   2018-12-31
FROM TACONIC CRE DISLOCATION FUND LP P   2018-12-31
FROM TACONIC CRE DISLOCATION FUND LP P   2018-12-31
FROM MFO D&D SMID CAP VALUE FUND JOINT VENTURE STMT P   2018-12-31
FROM MFO D&D SMID CAP VALUE FUND JOINT VENTURE STMT P   2018-12-31
FROM MFO WESTFIELD FUND B JOINT VENTURE STMT P   2018-12-31
FROM MFO WESTFIELD FUND B JOINT VENTURE STMT P   2018-12-31
FROM MFO TOWLE FUND JOINT VENTURE STMT P   2018-12-31
FROM MFO TOWLE FUND JOINT VENTURE STMT P   2018-12-31
1025 DUNKIN BRANDS GROUP INC DNKN P 2015-03-23 2018-08-17
1078 DUNKIN BRANDS GROUP INC DNKN P 2015-03-19 2018-08-17
500 TJX COS INC NEW TJX P 2014-10-28 2018-08-17
100 BLACKROCK INC BLK P 2012-09-11 2018-08-17
250 CME GROUP INC CME P 2015-11-04 2018-08-17
647 DUNKIN BRANDS GROUP INC DNKN P 2015-03-19 2018-08-20
750 DUNKIN BRANDS GROUP INC DNKN P 2015-11-04 2018-08-20
950 COSTCO WHOLESALE CRP DEL COST P 2017-08-31 2018-09-12
1050 GOLDMAN SACHS GROUP INC GS P 2017-05-19 2018-10-19
1050 THE HOWARD HUGHES CORP SHS HHC P 2018-09-04 2018-10-23
1250 NORFOLK SOUTHERN CORP NSC P 2012-05-31 2019-03-08
1 DOW INC REG SHS DOW P 2014-12-12 2019-04-05
2400 QUALCOMM INC QCOM P 2017-09-07 2019-04-17
1 CORTEVA INC CTVA P 2014-12-12 2019-06-06
1 DOWDUPONT INC COM DWDP P 2014-12-12 2019-06-10
40.334 VANGUARD 500 INDEX FUND-ADM SHRS VFIAX P 2016-04-05 2018-10-03
1826.001 VANGUARD 500 INDEX FUND-ADM SHRS VFIAX P 2016-02-08 2018-10-03
2575.477 VANGUARD 500 INDEX FUND-ADM SHRS VFIAX P 2013-08-22 2018-10-03
446.744 VANGUARD 500 INDEX FUND-ADM SHRS VFIAX P 2013-08-22 2019-04-22
447.872 VANGUARD REIT INDEX-ADM SHRS VGSLX P 2016-05-03 2019-01-17
3115.602 VANGUARD REIT INDEX-ADM SHRS VGSLX P 2014-01-30 2019-01-17
6007.81 VANGUARD GLOBAL EX P 2018-01-25 2019-01-17
25990.903 DREYFUS TOTAL EMERGING MARKETS DTEIX P 2018-03-01 2019-01-08
149720.347 DREYFUS TOTAL EMERGING MARKETS DTEIX P 2012-08-01 2019-01-08
10738.832 DREYFUS TOTAL EMERGING MARKETS DTEIX P 2011-10-28 2019-01-08
4584.761 DREYFUS TOTAL EMERGING MARKETS DTEIX P 2013-12-27 2019-01-08
2906.313 DREYFUS TOTAL EMERGING MARKETS DTEIX P 2011-12-28 2019-01-08
99700.896 DREYFUS TOTAL EMERGING MARKETS DTEIX P 2016-05-23 2019-01-08
22653.069 TIF INTERNATIONAL EQUITY SERIES INST. P 2006-08-25 2019-03-04
297.432 TIF INTERNATIONAL EQUITY SERIES INST. P 2008-09-02 2019-03-04
7240.748 TIF INTERNATIONAL EQUITY SERIES INST. P 2008-09-02 2019-03-04
167.529 TIF INTERNATIONAL EQUITY SERIES INST. P 2013-09-06 2019-03-04
19.445 TIF INTERNATIONAL EQUITY SERIES INST. P 2013-09-06 2019-03-04
5817.993 TIF INTERNATIONAL EQUITY SERIES INST. P 2010-12-27 2019-03-04
4490.752 TIF INTERNATIONAL EQUITY SERIES INST. P 2012-12-24 2019-03-04
7077.271 TIF INTERNATIONAL EQUITY SERIES INST. P 2009-12-15 2019-03-04
124.139 TIF INTERNATIONAL EQUITY SERIES INST. P 2012-09-06 2019-03-04
123.316 TIF INTERNATIONAL EQUITY SERIES INST. P 2012-09-06 2019-03-04
660.732 TIF INTERNATIONAL EQUITY SERIES INST. P 2010-09-01 2019-03-04
493.241 TIF INTERNATIONAL EQUITY SERIES INST. P 2011-09-02 2019-03-04
372.971 TIF INTERNATIONAL EQUITY SERIES INST. P 2011-09-02 2019-03-04
5235.393 TIF INTERNATIONAL EQUITY SERIES INST. P 2011-12-22 2019-03-04
2812.209 TIF INTERNATIONAL EQUITY SERIES INST. P 2011-12-22 2019-03-04
27.561 TIF INTERNATIONAL EQUITY SERIES INST. P 2011-12-22 2019-03-04
6016.316 TIF INTERNATIONAL EQUITY SERIES INST. P 2008-12-17 2019-03-04
13837.361 TIF INTERNATIONAL EQUITY SERIES INST. P 2008-12-17 2019-03-04
881.573 TIF INTERNATIONAL EQUITY SERIES INST. P 2008-12-17 2019-03-04
6761.325 VANGUARD SMALL CAP INDEX - ADMIRAL SHRS VSMAX P 2018-01-25 2019-04-10
6547.166 VANGUARD SMALL CAP INDEX - ADMIRAL SHRS VSMAX P 2017-09-28 2019-04-10
332 INSTRUCTURE INC INST P 2017-11-22 2018-07-11
4768 TELARIA INC TLRA P 2010-04-22 2019-04-30
3930 TELARIA INC TLRA P 2010-04-22 2019-05-08
734 TELARIA INC TLRA P 2011-09-06 2019-05-08
54 TELARIA INC TLRA P 2011-09-20 2019-05-08
972 ANAPLAN INC PLAN P 2014-05-08 2019-06-13
CAPITAL GAINS 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 848     848
b 20,967     20,967
c 58,782     58,782
d 1,708     1,708
e 457     457
    2,793 -2,793
1,108     1,108
    1,107 -1,107
1,623     1,623
36,568     36,568
36,568     36,568
    2,848 -2,848
3,131     3,131
13,193     13,193
    12 -12
139,581     139,581
1,081     1,081
19,132     19,132
423,652   461,433 -37,781
876,821   663,490 213,331
245,836   287,482 -41,646
502,454   359,929 142,525
696,075   780,478 -84,403
1,048,123   847,201 200,922
74,184   49,574 24,610
78,020   51,945 26,075
49,940   31,292 18,648
47,345   17,827 29,518
42,350   23,859 18,491
46,817   31,176 15,641
54,270   31,180 23,090
230,477   148,188 82,289
238,508   227,517 10,991
114,874   136,781 -21,907
219,741   82,897 136,844
43   30 13
186,026   120,623 65,403
18   15 3
48   44 4
10,897   7,610 3,287
493,312   312,684 180,628
695,791   394,563 301,228
120,000   68,441 51,559
50,274   51,554 -1,280
349,726   281,556 68,170
199,500   234,530 -35,030
294,218   400,000 -105,782
1,694,830   1,796,070 -101,240
121,564   125,000 -3,436
51,900   53,275 -1,375
32,900   31,446 1,454
1,128,617   1,000,000 128,617
364,714   558,625 -193,911
4,789   6,701 -1,912
116,576   163,134 -46,558
2,697   3,570 -873
313   414 -101
93,670   115,429 -21,759
72,301   87,480 -15,179
113,944   135,317 -21,373
1,999   2,335 -336
1,985   2,320 -335
10,638   12,045 -1,407
7,941   8,977 -1,036
6,005   6,788 -783
84,290   89,106 -4,816
45,277   47,864 -2,587
444   469 -25
96,863   90,546 6,317
222,782   208,252 14,530
14,193   8,211 5,982
508,046   500,000 8,046
491,954   442,261 49,693
14,892   11,274 3,618
33,772   34,949 -1,177
28,014   28,807 -793
5,232   4,896 336
385   243 142
46,063   6,911 39,152
549,164     549,164
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       848
b       20,967
c       58,782
d       1,708
e       457
      -2,793
      1,108
      -1,107
      1,623
      36,568
      36,568
      -2,848
      3,131
      13,193
      -12
      139,581
      1,081
      19,132
      -37,781
      213,331
      -41,646
      142,525
      -84,403
      200,922
      24,610
      26,075
      18,648
      29,518
      18,491
      15,641
      23,090
      82,289
      10,991
      -21,907
      136,844
      13
      65,403
      3
      4
      3,287
      180,628
      301,228
      51,559
      -1,280
      68,170
      -35,030
      -105,782
      -101,240
      -3,436
      -1,375
      1,454
      128,617
      -193,911
      -1,912
      -46,558
      -873
      -101
      -21,759
      -15,179
      -21,373
      -336
      -335
      -1,407
      -1,036
      -783
      -4,816
      -2,587
      -25
      6,317
      14,530
      5,982
      8,046
      49,693
      3,618
      -1,177
      -793
      336
      142
      39,152
      549,164
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 1,999,467
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 5,643,961 64,587,213 0.087385
2016 2,926,173 60,590,554 0.048294
2015 3,253,105 59,539,913 0.054637
2014 3,154,430 65,121,359 0.048439
2013 2,976,439 64,497,602 0.046148
2
Total of line 1, column (d) .....................
2
0.284903
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
0.056981
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
62,008,827
5
Multiply line 4 by line 3......................
5
3,533,325
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
29,931
7
Add lines 5 and 6........................
7
3,563,256
8
Enter qualifying distributions from Part XII, line 4,.............
8
2,799,984
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 59,862
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 59,862
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 59,862
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 68,977
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 14,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 82,977
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 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 23,115
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet23,115 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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
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)
    bulletMI
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 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 addressbulletWWW.ISABEL.ORG
    14
    The books are in care ofbulletROBERT T BROWNLEE JR Telephone no.bullet (810) 767-0136

    Located atbullet111 EAST COURT STREET SUITE 3DFLINTMI ZIP+4bullet485021649
    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? .................
    16Yes  
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bulletEI
    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
     
     
    .........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
    WILLIAM S WHITE DECEASED 102019 VICE PRESIDENT & SECRETARY
    0.00     		0 0 0
    111 EAST COURT STREET SUITE 3D
    FLINT,MI485021649
    TIFFANY W LOVETT PRESIDENT
    15.00     		70,000 12,990 0
    111 EAST COURT STREET SUITE 3D
    FLINT,MI485021649
    RIDGWAY H WHITE TREASURER
    0.00     		0 0 0
    111 EAST COURT STREET SUITE 3D
    FLINT,MI485021649
    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
    JENNIFER HEBERT PROGRAM OFFICER
    40.00     		60,000 0 0
    111 E COURT ST SUITE 3D
    FLINT,MI48502
    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
    MFO MANAGEMENT COMPANY ACCOUNTING/ INVESTMENT ADVICE 135,000
    111 E COURT ST SUITE 3D
    FLINT,MI48502
    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 THE FOUNDATION DOES NOT MAKE ANY PROGRAM RELATED INVESTMENTS. 0
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    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
    43,799,731
    b
    Average of monthly cash balances.......................
    1b
    1,737,802
    c
    Fair market value of all other assets (see instructions)................
    1c
    17,415,591
    d
    Total (add lines 1a, b, and c).........................
    1d
    62,953,124
    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
    62,953,124
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    944,297
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    62,008,827
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,100,441
    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
    3,100,441
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    59,862
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
    20,052
    c
    Add lines 2a and 2b............................
    2c
    79,914
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,020,527
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    3,020,527
    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
    3,020,527
    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
    2,799,984
    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
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    2,799,984
    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
    2,799,984
    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 3,020,527
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 337,754
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 2,799,984
    a Applied to 2017, but not more than line 2a 337,754
    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..... 2,462,230
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2018. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		558,297
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018....  
    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:
    TIMOTHY C SANFORD FAX 810 767-1207
    C/O MFO MANAGEMENT COMPANY 111 E
    COURT STREET SUITE 3D
    FLINT,MI485021649
    (810) 767-0136
    bThe form in which applications should be submitted and information and materials they should include:
    INITIAL SUBMISSION SHOULD BE IN THE FORM OF A LETTER EXPLAINING THE ORGANIZATION AND THE PURPOSE OF THE REQUEST.
    cAny submission deadlines:
    A FORMAL SUBMISSION DEADLINE HAS NOT BEEN ESTABLISHED BUT GRANTS ARE MADE PRIMARILY IN JUNE.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE ORGANIZATION WAS FORMED TO MAINTAIN A FUND OR FUNDS SO THAT THE INCOME THEREFROM AND THE PRINCIPAL THEREOF CAN BE USED TO PROVIDE FINANCIAL SUPPORT TO RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL ACTIVITIES EITHER DIRECTLY, OR THROUGH DIRECT CONTRIBUTIONS, GIFTS AND GRANTS TO OTHER ORGANIZATIONS, WHICH CARRY ON SUCH ACTIVITIES AND ARE TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE MAJORITY OF, AND AT LEAST SEVENTY-FIVE PERCENT OF, CONTRIBUTIONS, GIFTS AND GRANTS MADE ANNUALLY ARE TO BE MADE TO OTHER TAX-EXEMPT CHARITABLE AND RELIGIOUS ORGANIZATIONS DEDICATED TO SUPPORTING OR CONTRIBUTING TO THE CAUSE OF CHRISTIAN SCIENCE.
    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
    ADVENTURE UNLIMITED
    5201 SOUTH QUEBEC STREET
    GREENWOOD VILLAGE,CO80111     		NONE PC 2019-2021 PLEDGE 250,000
    ADVENTURE UNLIMITED
    5201 SOUTH QUEBEC STREET
    GREENWOOD VILLAGE,CO80111     		NONE PC MATCH - 1250 SUMMIT CAMPAIGN 2,500
    ADVENTURE UNLIMITED
    5201 SOUTH QUEBEC STREET
    GREENWOOD VILLAGE,CO80111     		NONE PC FACILITIES ENDOWMENT 50,000
    ALBERT BAKER FUND THE
    PO BOX 179
    AMADOR CITY,CA956010179     		NONE PC 2019-2021 PLEDGE - ABF CAREER ALLIANCE 3.0 AND ABF REGIONAL CAREER COMMUNITIES 35,000
    AMERICAN CORPORATION FOR THE ARTS
    6233 HOLLYWOOD BOULEVARD
    LOS ANGELES,CA90028     		NONE PC GENERAL OPERATING EXPENSES 8,407
    ARDEN WOOD INC
    445 WAWONA STREET
    SAN FRANCISCO,CA94116     		NONE PC 2018, 2019-2020 MATCH PLEDGE - CAPITAL IMPROVEMENTS AND GENERAL OPERATING EXPENSES 70,000
    ARTSCONNECTION INC
    520 EIGHTH AVENUE SUITE 321
    NEW YORK,NY10018     		NONE PC GENERAL OPERATING SUPPORT 5,000
    ASSOCIATION OF ORGANIZATIONS FOR CHRISTIAN SCIENCE NURSING
    SUNLAND HOME FOUNDATION 691 SPARTA
    DRIVE
    ENCINITAS,CA92024     		NONE PC 2019 AOCSN CONFERENCE SUPPORT 15,000
    BEACON HAVEN
    1200 LONG LAKE ROAD
    NEW BRIGHTON,MN55112     		NONE PC 2019-2021 - MATCH 2020 & 2021 - ANNUAL FUND CHALLENGE GRANT 25,000
    BOYS & GIRLS CLUBS OF GREATER FLINT
    3701 N AVERILL AVENUE
    FLINT,MI48506     		NONE PC GREAT SUMMERS START HERE 40,000
    BRANCH SCHOOL THE
    1424 SHERWOOD FOREST STREET
    HOUSTON,TX77043     		NONE PC SCHOLARSHIP FOR CHRISTIAN SCIENCE STUDENTS 10,000
    BROADVIEW INC
    4570 GRIFFIN AVENUE
    LOS ANGELES,CA90031     		NONE PC 2018-2020 PLEDGE - MAINTENANCE AND REPAIRS 65,000
    CAMPERSHIP FUND FOR CHRISTIAN SCIENTISTS IN THE SE AND MW
    2860 UMBERLAND DRIVE
    ATLANTA,GA30340     		NONE PC 2018-2020 PLEDGE - CAMPERSHIP AND GENERAL OPERATING EXPENSES 25,000
    CAMPS LEELANAU & KOHAHNA FOUNDATION INC
    1653 PORT ONEIDA ROAD
    MAPLE CITY,MI49664     		NONE PC 2018-2020 PLEDGE - CAMPERSHIP AND GENERAL OPERATING EXPENSES 65,000
    CAMPS NEWFOUNDOWATONNA CORPORATION
    4 CAMP NEWFOUND ROAD
    HARRISON,ME040409987     		NONE PC 2018-2020 PLEDGE - GENERAL OPERATING EXPENSES 65,000
    CANTERBURY CREST INC
    P O BOX 19147
    PORTLAND,OR972800147     		NONE PC 2019-2020 PLEDGE - CS NURSE FIELD REPRESENTATIVE PROGRAM 5,000
    CEDARS CAMPS THE
    1314 PARKVIEW VALLEY DRIVE
    MANCHESTER,MO630114201     		NONE PC 2018-2020 PLEDGE - CAMPERSHIPS, CABIN AND KITCHEN MAINTENANCE AND RENOVATIONS 75,000
    CHESTNUT HILL BENEVOLENT ASSOCIATION
    910 BOYLSTON STREET
    CHESTNUT HILL,MA024672400     		NONE PC 2018-2019 PLEDGE - CHRISTIAN SCIENCES NURSES TRAINING GRANT 70,000
    CHRISTIAN SCIENCE NURSING NETWORK INC
    5103 S SHERIDAN ROAD SUITE 403
    TULSA,OK741457627     		NONE PC CONFERENCE EXPENSES AND ANNUAL OPERATING EXPENSES 20,000
    CHRISTIAN SCIENCE PROVIDER NETWORK
    18 MAIN STREET EXTENSION STE 402
    PLYMOUTH,MA02360     		NONE PC 2018-2019 PLEDGE - INSURANCE HELP FOR CS NURSING FACILITIES 10,000
    CLAIRBOURN SCHOOL
    8400 HUNTINGTON DRIVE
    SAN GABRIEL,CA917751154     		NONE PC 2017-2019 PLEDGE - SCHOLARSHIPS TO STUDENTS OF CS FAMILIES 5,000
    CLEARVIEW HOME CORPORATION
    P O BOX 180198 935 MAIN STREET
    DELAFIELD,WI53018     		NONE PC 2019-2021 PLEDGE - STAFF DEVELOPMENT, SITE RESTORATION AND GENERAL OPERATING 20,000
    COUNCIL OF MICHIGAN FOUNDATIONS
    ONE SOUTH HARBOR AVENUE
    GRAND HAVEN,MI49417     		NONE PC MEMBERSHIP DUES 7,600
    CRYSTAL LAKE CAMPS INC
    1676 CRYSTAL LAKE ROAD
    HUGHESVILLE,PA17737     		NONE PC 2018-2020 PLEDGE - GENERAL OPERATIONS 55,000
    DAYSTAR INC
    3800 SOUTH FLAMINGO ROAD
    FORT LAUDERDALE,FL333301699     		NONE PC 2017-2019 PLEDGE - MAJOR IMPROVEMENTS TO NURSING ROOMS, ELECTRICAL EQUIPMENT, APARTMENT ROOFS 35,000
    DOMINION FOUNDATION THE
    P O BOX 17855
    RICHMOND,VA23226     		NONE PC 2018-2019 PLEDGE - CS NURSE EDUCATION -INTERNATIONAL AND NATIONAL 45,000
    E3 ELEVATING EDUCATION EVERYWHERE INC
    11124 KINGSTON PIKE
    KNOXVILLE,TN37934     		NONE PC 2018-2020 PLEDGE - SUPPORT FOR CS BASED SCHOOLS IN DEVELOPING COUNTRIES 30,000
    FERN LODGE INC
    18457 MADISON AVENUE
    CASTRO VALLEY,CA945461699     		NONE PC 2018-2020 PLEDGE - GENERAL OPERATING EXPENSES, BENEVOLENCE, NURSES' TRAINING 50,000
    FIRST CHURCH OF CHRIST SCIENTIST BOSTON THE
    210 MASSACHUSETTS AVENUE P05-10
    BOSTON,MA021153195     		NONE PC 2016-2020 PLEDGE - SUPPORT FOR THE CHRISTIAN SCIENCE MONITOR 150,000
    FIRST CHURCH OF CHRIST SCIENTIST FLINT THE
    901 HARRISON STREET
    FLINT,MI48502     		NONE PC GENERAL OPERATING EXPENSES 145,000
    FIRST CHURCH OF CHRIST SCIENTIST PETOSKEY THE
    420 WAUKOZOO AVENUE
    PETOSKEY,MI497702620     		NONE PC GENERAL OPERATING EXPENSES 2,500
    FLINT CULTURAL CENTER CORPORATION
    1310 E KEARSLEY STREET
    FLINT,MI48503     		NONE PC 2018-2020 PLEDGE - THE SLOAN MUSEUM OF DISCOVERY BUILDING PROJECT 50,000
    FLINT CULTURAL CENTER CORPORATION
    1310 E KEARSLEY STREET
    FLINT,MI48503     		NONE PC SLOAN MUSEUM 100,000
    FLINT INSTITUTE OF ARTS
    1120 E KEARSLEY ST
    FLINT,MI48503     		NONE PC 2019-2021 PLEDGE - FIA ART SCHOOL DIRECTOR SALARY 65,000
    FRIENDS OF CAMP BOW-ISLE INC
    16880 SE 56TH PLACE
    BELLEVUE,WA980065524     		NONE PC 2018-2020 PLEDGE - CARPORT INSTALLATION, CAMPERSHIPS AND GENERAL OPERATING FUNDS 35,000
    FRIENDS OF GYA
    21781 VENTURA BLVD
    WOODLAND HILLS,CA91364     		NONE PC 2019-2021 PLEDGE - GET GRENADA SWIMMING 30,000
    GLENMONT
    4599 AVERY ROAD
    HILLIARD,OH430269786     		NONE PC 2017-2019 PLEDGE - BENEVOLENCE AND EQUIPMENT 50,000
    HIGH RIDGE HOUSE INC
    5959 INDEPENDENCE AVENUE
    RIVERDALE,NY104711299     		NONE PC 2017-2019 PLEDGE - PROGRESS AND RENEWAL FOR HIGH RIDGE HOUSE 35,000
    LEAVES INC THE
    1230 WEST SPRING VALLEY ROAD
    RICHARDSON,TX750807709     		NONE PC 2019-2021 PLEDGE - VISITING CHRISTIAN SCIENCE NURSING SERVICE 50,000
    LINK SCHOOL THE
    18885 COUNTY ROAD 367
    BUENA VISTA,CO81211     		NONE PC GENERAL OPERATING EXPENSES 25,000
    LOVE'S PROVISION - A CHRISTIAN SCIENCE NURSING SERVICE
    13725 METCALF AVENUE PO BOX 322
    OVERLAND PARK,KS66223     		NONE PC LOVE'S PROVISION - A CHRISTIAN SCIENCE NURSING SERVICE 10,000
    LONGYEAR FOUNDATION
    1125 BOYLSTON STREET
    CHESTNUT HILL,MA02467     		NONE PC 2019 INTERNSHIP PROGRAM 10,000
    LYNN HOUSE OF POTOMAC VALLEY INC
    4400 WEST BRADDOCK ROAD
    ALEXANDRIA,VA223041010     		NONE PC 2017-2019 PLEDGE - PROMOTING CS NURSING THROUGH TRAINING, BUILDING UPGRADES, AND EQUIPMENT 35,000
    METROPOLITAN OPERA ASSOCIATION INC
    LINCOLN CENTER
    NEW YORK,NY10023     		NONE PC GENERAL OPERATING EXPENSES 12,500
    MORNING LIGHT FOUNDATION INC
    P O BOX 7604
    ATLANTA,GA30357     		NONE PC 2017-2019 PLEDGE - CARING FOR EACH OTHER - MORNING LIGHT OUTREACH PROGRAM 8,000
    NEW TEACHER CENTER
    725 FRONT STREET SUITE 400
    SANTA CRUZ,CA95060     		NONE PC ACCELERATING TEACHER PRACTICE AND STUDENT LEARNING ACROSS GREATER LOS ANGELES 15,000
    NOONTIDE VISITING CHRISTIAN SCIENCE NURSING SERVICE OF MICHIGAN
    PO BOX 702072
    PLYMOUTH,MI481709998     		NONE PC OPERATING FUNDS, ANNUAL MEETING AND OCTOBER 2019 WORKSHOP COSTS 15,000
    OLIVE GLEN FOUNDATION INC THE
    P O BOX 1482
    CARMICHAEL,CA956091482     		NONE PC 2018-2020 PLEDGE - NURSING BUILDING UPGRADES, ADMINISTRATIVE OFFICE UPGRADES 20,000
    OVERLOOK HOUSE INCORPORATED
    PO BOX 161070
    ROCKY RIVER,OH44116     		NONE PC CHRISTIAN SCIENCE NURSING SOFTWARE DEVELOPMENT 10,000
    PEACE HAVEN ASSOCIATION
    12630 ROTT ROAD
    ST LOUIS,MO631271214     		NONE PC 2019-2021 PLEDGE - CHRISTIAN SCIENCE NURSES TRAINING AND MENTORING GRANT 50,000
    PHILANTHROPY ROUNDTABLE THE
    1150 17TH STREET NW SUITE 503
    WASHINGTON,DC20036     		NONE PC GENERAL OPERATING SUPPORT 5,000
    PRINCIPIA THE
    13201 CLAYTON ROAD
    ST LOUIS,MO631311099     		NONE PC 2015-2019 PLEDGE - RENOVATE VONEY ART STUDIO 200,000
    PRINCIPLE FOUNDATION THE
    2405 GRAND BOULEVARD SUITE 1040
    KANSAS CITY,MO64108     		NONE PC PHILANTHROPY FORUM AND THE COLLABORATIVE SUPPORT TEAM 30,000
    RAINBOW VALLEY RESOURCE NETWORK
    PO BOX 768
    WARRENSBURG,NY12885     		NONE PC RVRN SPONSORED ENRICHMENT EVENTS AND NATIONAL DEVELOPMENT 15,000
    SUNLAND HOME FOUNDATION
    691 SPARTA DRIVE
    ENCINITAS,CA92024     		NONE PC 2018-2020 PLEDGE - SUSTAINING CS NURSES' TRAINING/MENTORING PROGRAM 35,000
    SUNRISE HAVEN
    P O BOX 6057
    KENT,WA98064     		NONE PC 2018-2020 PLEDGE - GENERAL FUND SUPPORT 20,000
    SUNRISE OF AFRICA SCHOOL CHARITABLE FOUNDATION INC
    PO BOX 695
    VENICE,FL34284     		NONE PC GENERAL OPERATING EXPENSES 25,000
    TENTH CHURCH OF CHRIST SCIENTIST - LOS ANGELES
    1133 SOUTH BUNDY DRIVE
    LOS ANGELES,CA90049     		NONE PC GENERAL OPERATING EXPENSES 30,000
    TWELVEACRES INC
    595 MILLICH DRIVE SUITE 104
    CAMPBELL,CA950080550     		NONE PC 2018-2020 PLEDGE - SUSTAINING GO AND HOME HEALING ENVIRONMENT FOR TWELVEACRES RESIDENTS 55,000
    UCLA GRADUATE SCHOOL OF EDUCATION & INFORMATION STUDIES
    2403 MOORE HALL BOX 951521
    LOS ANGELES,CA900951521     		NONE GOV SUMMER ENRICHMENT AND SUMMER CAMP FOR STUDENTS AT MANN UCLA COMMUNITY SCHOOL 30,000
    VISITING CHRISTIAN SCIENCE NURSING SERVICES FOR LOS ANGELES COUNTY INC
    P O BOX 9745
    GLENDALE,CA912260745     		NONE PC GENERAL OPERATING EXPENSES 10,000
    WIDE HORIZON INC
    8900 WEST 38TH AVENUE
    WHEAT RIDGE,CO80033     		NONE PC 2019-2021 PLEDGE - ANNUAL CAMPAIGN, GENERAL OPERATING, PROGRAM DEVELOPMENT 60,000
    CRYSTAL LAKE CAMPS INC
    1676 CRYSTAL LAKE ROAD
    HUGHESVILLE,PA17737     		NONE PC TRAVEL EXPENSE TO AN OFFERING OF LOVE MEETING, DETROIT, MI 1,757
    CAMPS NEWFOUNDOWATONNA CORPORATION
    4 CAMP NEWFOUND ROAD
    HARRISON,ME040409987     		NONE PC TRAVEL EXPENSE TO AN OFFERING OF LOVE MEETING, DETROIT, MI 606
    FRIENDS OF CAMP BOW-ISLE INC
    16880 SE 56TH PLACE
    BELLEVUE,WA980065524     		NONE PC TRAVEL EXPENSE TO AN OFFERING OF LOVE MEETING, DETROIT, MI 1,407
    HIGH OAKS INC
    1489 BALTIMORE PIKE SUITE 23
    SPRINGFIELD,PA19064     		NONE PC TRAVEL EXPENSE TO AN OFFERING OF LOVE MEETING, DETROIT, MI 359
    ADVENTURE UNLIMITED
    5201 SOUTH QUEBEC STREET
    GREENWOOD VILLAGE,CO80111     		NONE PC TRAVEL EXPENSE TO AN OFFERING OF LOVE MEETING, DETROIT, MI 2,390
    PRINCIPLE FOUNDATION THE
    2405 GRAND BOULEVARD SUITE 1040
    KANSAS CITY,MO64108     		NONE PC TRAVEL EXPENSE - THE PHILANTHROPY FORUM, DALLAS, TX 900
    CEDARS CAMPS THE
    1314 PARKVIEW VALLEY DRIVE
    MANCHESTER,MO630114201     		NONE PC TRAVEL EXPENSE 2,801
    LEAVES INC THE
    1230 WEST SPRING VALLEY ROAD
    RICHARDSON,TX750807709     		NONE PC TRAVEL EXPENSE - THE PHILANTHROPY FORUM, DALLAS, TX 4,851
    Total .................................bullet 3a 2,611,578
    bApproved for future payment
    Total .................................bullet 3b 0
    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.... 900099 96,486 14 1,324,963  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 4,326  
    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 1,999,467  
    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).. 96,486 3,328,756 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    3,425,242
    (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 AccountingFeesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MFO MANAGEMENT FEE 135,000 130,500   4,500

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

    TY 2018 DepreciationSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    BUILDING 1995-10-23 101,010 57,889 SL 39.000000000000 2,590 2,590    
    SAMSUNG AIO COMPUTER 2013-08-29 922 461 200DB 3.000000000000 0 0    

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BLACKROCK FLOATING RATE INC PORTFOLIO, 128947.329 SHS 1,284,315 1,284,315
    BLACKROCK MULTI-SECTOR OPPORTUNITIES TRUST, 2000 SHS 194,740 194,740
    TEMPLETON GLOBAL BOND FUND, 43724.824 SHS 490,593 490,593
    VANGUARD ADMIRAL HIGH YIELD CORPORATE FD, 159764.695 SHS 936,221 936,221
    VANGUARD ADMIRAL SHORT-TERM INVESTMENT GR, 187352.609 SHS 2,006,546 2,006,546

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ALPHABET INC/CA-CL C, 175 SHS 189,159 189,159
    APPLE INC, 970 SHS 191,982 191,982
    BLACKROCK INC, 475 SHS 222,918 222,918
    CBOE GLOBAL MARKETS INC, 3000 SHS 310,890 310,890
    CISCO SYSTEMS INC, 7300 SHS 399,529 399,529
    CME GROUP INC, 1700 SHS 329,987 329,987
    COCA-COLA COMPANY (THE), 5200 SHS 264,784 264,784
    CORTEVA INC, 766 SHS 22,651 22,651
    DOW INC, 766 SHS 37,771 37,771
    DUPONT DE NUMOURS INC, 766 SHS 57,504 57,504
    JP MORGAN CHASE & CO, 1700 SHS 190,060 190,060
    KKR & CO INC, 8050 SHS 203,424 203,424
    LOWES COS INC COM, 2600 SHS 262,366 262,366
    MONDELEZ INTERNATIONAL, 5150 SHS 277,585 277,585
    PAYPAL HOLDINGS, INC, 3500 SHS 400,610 400,610
    PEPSICO, INC., 1950 SHS 255,704 255,704
    PHILLIPS 66, 2800 SHS 261,912 261,912
    QUALCOMM INCORPORATED, 3350 SHS 254,835 254,835
    RAYTHEON COMPANY, 1400 SHS 243,432 243,432
    SCHLUMBERGER LIMITED, 2050 SHS 81,467 81,467
    TARGA RESOURCES CORP, 3750 SHS 147,225 147,225
    THE HOWARD HUGHES CORP, 1050 SHS 130,032 130,032
    THE KRAFT HEINZ CO, 2100 SHS 65,184 65,184
    TJX COS INC NEW, 4100 SHS 216,808 216,808
    UNITED PARCEL SVC CL B, 1300 SHS 134,251 134,251
    UNITED TECHNOLOGIES CORPORATION, 1850 SHS 240,870 240,870
    VAIL RESORTS INC, 775 SHS 172,965 172,965
    VANECK VECTORS GOLD MINERS ETF, 14700 SHS 375,732 375,732
    VANGUARD INDEX FDS 500, 20946 SHS 5,684,746 5,684,746
    VERIZON COMMUNICATIONS INC., 3600 SHS 205,668 205,668
    VIPER ENERGY PARTNERS, 3950 SHS 121,739 121,739
    VISA INC CLA A SHS, 1550 SHS 269,003 269,003
    WALT DISNEY CO/THE, 1350 SHS 188,514 188,514
    WASTE MANAGEMENT INC., 2900 SHS 334,573 334,573
    CROWN CASTLE INTL REIT CORP, 2200 SHS 286,770 286,770
    HAGGERTY - HCP/HBAS, 500,000 SHS 60,363 60,363
    TACONIC CRE DISLOCATION FUND II, LP 208,341 208,341
    TACONIC CRE DISLOCATION FUND, LP 399,227 399,227
    VANGUARD GLOBAL EX-US REAL ESTATE IDE FUND, 32921.975 SHS 1,175,973 1,175,973
    VANGUARD REIT INDEX FUND, 10602.028 SHS 1,315,182 1,315,182
    VANGUARD DEV MKT INDEX - ADM, 457726.855 SHS 6,142,694 6,142,694
    VANGUARD EMERGING MKTS STOCK INDEX - ADM, 100670.282 SHS 3,553,661 3,553,661
    VANGUARD GLOBAL CAPITAL CYCLES FD, 49662.194 SHS 398,787 398,787
    MFO - D&D SMID CAP VALUE FUND, 2407575.1832533 SHS 3,604,237 3,604,237
    MFO - WESTFIELD FUND B, 66605.2456058 SHS 3,730,461 3,730,461
    MFO - TOWLE FUND, 437596.3049318 SHS 2,993,245 2,993,245
    VANGUARD SMALL CAP INDEX - ADM, 30272.818 SHS 2,273,186 2,273,186

    TY 2018 InvestmentsLandSchedule2
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDING 101,010 60,479 40,531  

    TY 2018 InvestmentsOtherSchedule2
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    DRAPER FISHER JURVETSON GROWTH FUND LP FMV 1,304,605 1,304,605
    DRAPER FISHER JURVETSON GROWTH 2013 FUND LP FMV 1,115,162 1,115,162
    DFJ GROWTH 2016, LP FMV 407,521 407,521
    CROSSLINK VI VENTURE FUND FMV 314,385 314,385
    ARBORETUM VENTURES III FMV 331,891 331,891
    ARBORETUM VENTURES IV FMV 602,156 602,156
    ARCHIPELAGO HLDGS LTD-OFFSHORE FMV 1,456,991 1,456,991
    CATALYST/MILBURN HEDGE STRATEGY FUND FMV 753,540 753,540
    ELLIOTT INTERNATIONAL LIMITED FMV 1,890,279 1,890,279
    GOLDMAN SACHS MLP ENERGY INFASTRUCTURE FUND FMV 2,165,402 2,165,402
    HG VORA SPECIAL OPPORTUNITIES FUND, LTD CLASS FMV 1,291,994 1,291,994
    IMPACT VENTURES III, LP FMV 73,778 73,778
    NEXTERA ENERGY PARTNERS LP FMV 393,238 393,238
    OTTER CREEK LONG/SHORT OPPORTUNITY FUND FMV 840,946 840,946
    PERSHING SQUARE HOLDINGS LTD FMV 1,104,700 1,104,700
    TRP CAPITAL PARTNERS, LP FMV 492,002 492,002
    WEXFORD OFFSHORE SPECTRUM C-0000-E FMV 1,836,723 1,836,723
    WILLIAMS COMPANIES DEL FMV 249,556 249,556
    YORK CREDIT OPPTN - A/8 SERIES FMV 1,353,225 1,353,225
    APOLLO NATURAL RESOURCE PARTNERS LP FMV 2,834 2,834
    ANRP (AIV II) LP FMV 8,959 8,959
    ANRP (EPE AIV) LP FMV 11,883 11,883
    ANRP APEX ENERGY/ANRP DOUBLE EAGLE ENERGY HOLDING/ANRP DE HOLDINGS AIV, LP FMV 38,278 38,278
    ANRP CAELUS FMV 16,551 16,551
    ANRP DEBT HOLDINGS AIV, LP FMV 9,969 9,969
    ANRP EXPRESS FMV 9,509 9,509
    ANRP INTERNATIONAL HOLDINGS LP FMV 141,471 141,471
    ANRP JUPITER RESOURCES FMV 13,839 13,839
    ANRP TALOS ENERGY FMV 4,207 4,207

    TY 2018 LegalFeesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL SERVICES 6,898 0   6,898


    TY 2018 OtherAssetsSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    INLANDER ART COLLECTION 1,644,800 1,644,800 1,644,800
    GLASS ART COLLECTION 2,301,143 2,301,143 2,301,143
    GLASS BOAT 550,000 550,000 550,000


    TY 2018 OtherDecreasesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Description Amount
    CHANGE IN UNREALIZED GAIN/LOSSES 272,679


    TY 2018 OtherExpensesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FILING FEE 20 0   20
    OFFICE EXPENSE 135 0   135
    PAYROLL PROCESSING 2,343 63   2,280
    FINE ART EXPENSES 3,804 3,804   0
    MEALS 432 22   410
    BANK FEES 130 0   130
    WEBSITE & DOMAIN NAME 396 0   396
    MISCELLANEOUS 840 0   840
    APOLLO NATURAL RESOURCES PARTNERS - SCHEDULE K-1 3,982 3,982   0
    ANRP (AIV II) LP - SCHEDULE K-1 17 17   0
    ANRP (EPE AIV) LP SCHEDULE K-1 27,898 27,898   0
    ANRP DE HOLDINGS LP SCHEDULE K-1 2,422 2,422   0
    ANRP INTERNATIONAL HOLDINGS, LP K-1 25 25   0
    ARBORETUM VENTURES III - SCHEDULE K-1 5,460 5,460   0
    ARBORETUM VENTURES IV - SCHEDULE K-1 9,126 9,126   0
    CROSSLINK VENTURES VI, L.P. - SCHEDULE K-1 1,979 1,979   0
    DFJ GROWTH 2013, LP - SCHEDULE K-1 15,191 15,191   0
    DFJ GROWTH III, LP - SCHEDULE K-1 13,431 13,431   0
    DRAPER FISHER JURVETSON GROWTH FUND 2006 LP - SCHEDULE K-1 2,060 2,060   0
    IMPACT VENTURES III, LP - SCHEDULE K-1 5,703 5,703   0
    TACONIC CRE DISLOCATION FUND LP - SCHEDULE K-1 9,300 9,300   0
    TACONIC CRE DISLOCATION FUND II LP - SCHEDULE K-1 1,448 1,448   0
    TRP CAPITAL PARTNERS, LP - SCHEDULE K-1 7,524 7,524   0
    MFO D&D SMID CAP VALUE FUND JOINT VENTURE STMT 21,582 21,582   0
    MFO TOWLE FUND JOINT VENTURE STMT 19,304 19,304   0
    MFO WESTFIELD FUND B JOINT VENTURE STMT 18,558 18,558   0


    TY 2018 OtherLiabilitiesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Description Beginning of Year - Book Value End of Year - Book Value
    APOLLO NATURAL RESOURCE-CAPITAL COMMITMENT 80,184 69,345
    ARBORETUM VENTURES III-CAPITAL COMMITMENT 6,300 0
    ARBORETUM VENTURES IV-CAPITAL COMMITMENT 291,500 201,500
    CROSSLINK VI VENTURE FUND-CAPITAL COMMITMENT 22,520 22,520
    DFJ GROWTH 2013 FUND-CAPITAL COMMITMENT 36,000 10,200


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL SERVICES 2,500 0   2,500
    AUDIT/TAX FEE 7,250 0   7,250


    TY 2018 TaxesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES WITHHELD 28,829 28,829   0
    FEDERAL EXCISE TAXES 19,756 0   0
    PAYROLL TAXES 9,945 282   9,663
    MFO D&D SMID CAP VALUE FUND JOINT VENTURE STMT 368 368   0
    MFO TOWLE FUND JOINT VENTURE STMT 880 880   0
    MFO WESTFIELD FUND B JOINT VENTURE STMT 1,077 1,077   0
    ANRP INTERNATIONAL HOLDINGS, LP K-1 29 29   0