TY 2020 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0052

2020

Open to Public Inspection

For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020

Name of foundation
LAI FAMILY FOUNDATION

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

82-3752078

B Telephone number (see instructions)

(503) 464-3580

C If exemption application is pending, check here bullet

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

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

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

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

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

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

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

$12,497,704J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	188,191		185,951
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		109,001
b	Gross sales price for all assets on line 6a 2,448,298
7	Capital gain net income (from Part IV, line 2)...			109,001
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	297,192		294,952
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		1,500	0	0	1,500
c	Other professional fees (attach schedule)....		34,151	30,736		3,415
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		5,700	4,272		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		25			25
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	41,376		35,008	0	4,940
25	Contributions, gifts, grants paid.......	530,000				530,000
26	Total expenses and disbursements. Add lines 24 and 25	571,376		35,008	0	534,940
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-274,184
b	Net investment income (if negative, enter -0-)			259,944
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2020)

Form 990-PF (2020)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	-460,707	1,804	1,804
	2	Savings and temporary cash investments.........	529,452	96,459	96,459
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	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).......	6,761,777	6,639,052	9,159,298
	c	Investments—corporate bonds (attach schedule).......	3,204,016	2,617,409	2,782,019
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........		444,560	456,649
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	2,892	1,475	1,475
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	10,037,430	9,800,759	12,497,704
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	10,037,430	9,800,759
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	10,037,430	9,800,759
	30	Total liabilities and net assets/fund balances (see instructions).	10,037,430	9,800,759

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

10,037,430

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

-274,184

Other increases not included in line 2 (itemize) bullet

41,158

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

9,804,404

Decreases not included in line 2 (itemize) bullet

3,645

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

9,800,759

Form 990-PF (2020)

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	.889 RAYTHEON TECHNOLOGIES CORP COM		2018-03-05	2020-04-27
b	45. AMAZON COM INC COM		2014-02-18	2020-05-12
c	1175. DELTA AIR LINES INC			2020-05-12
d	31918.821 DRIEHAUS ACTIVE INCOME FUND		2018-03-05	2020-05-12
e	375. FOOT LOCKER INC COM			2020-05-12
	27161.31 HIGHLAND LONG SHORT EQUITY Z			2020-05-12
	400. MICROSOFT CORP			2020-05-12
	1535. PARSLEY ENERGY INC-CLASS A			2020-05-12
	128. SCHLUMBERGER LTD ISIN #AN8068571086		2018-03-05	2020-05-12
	25463.615 TCW EMERGING MARKETS INCOME FUND		2018-03-05	2020-05-12
	550. WESTERN DIGITAL CORP COM		2018-03-14	2020-05-12
	38. AMAZON COM INC COM		2014-02-18	2020-06-18
	75. APPLE COMPUTER INC		2016-05-06	2020-06-18
	85. BIOGEN, INC			2020-06-18
	19276.428 CAUSEWAY EMERGING MARKETS INSTL			2020-06-18
	51015.799 DOUBLELINE TOTAL RET BD I			2020-06-18
	1333. ENBRIDGE INC			2020-06-18
	160. FIVE BELOW		2019-04-12	2020-06-18
	400. ISHARES BARCLAYS INTERM GOVT ETF		2018-03-05	2020-06-18
	145. LEGGETT & PLATT INC		2018-03-05	2020-06-18
	440. MAGNA INTL INC CL A			2020-06-18
	400. MICROSOFT CORP			2020-06-18
	105. MOHAWK INDS INC COM			2020-06-18
	107. PNC FINL SVCS GROUP INC COM W/RIGHTS ATTACHED EXP 5/25/2010		2018-03-05	2020-06-18
	104. PPG INDS INC COM		2018-03-05	2020-06-18
	884. RAYTHEON TECHNOLOGIES CORP COM			2020-06-18
	635. TC ENERGY CORP		2018-03-14	2020-06-18
	325. WENDYS CO THE		2019-04-12	2020-06-18
	22. AMAZON COM INC COM		2014-02-18	2020-09-08
	200. MICROSOFT CORP			2020-09-08
	425. MYLAN NV		2019-04-12	2020-11-17
	338. MYLAN NV		2018-03-14	2020-11-17
	1062. MYLAN NV		2018-03-05	2020-11-17
	.8355 VIATRIS INC		2018-03-05	2020-11-30
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	56	81	-25
b	107,641	15,815	91,826
c	25,068	65,723	-40,655
d	268,118	318,550	-50,432
e	9,394	17,922	-8,528
	279,218	347,367	-68,149
	74,175	11,469	62,706
	14,083	40,793	-26,710
	2,232	8,438	-6,206
	182,319	212,367	-30,048
	23,040	57,043	-34,003
	100,864	13,355	87,509
	26,432	6,917	19,515
	22,464	24,305	-1,841
	224,763	274,182	-49,419
	546,379	533,023	13,356
	41,693	45,592	-3,899
	17,757	21,507	-3,750
	46,960	43,164	3,796
	4,888	6,323	-1,435
	19,342	23,307	-3,965
	77,966	10,147	67,819
	9,900	24,442	-14,542
	11,869	17,038	-5,169
	10,812	11,646	-834
	58,584	71,346	-12,762
	27,864	28,327	-463
	6,977	5,998	979
	69,747	7,732	62,015
	40,963	5,432	35,531
	6,696	11,466	-4,770
	5,325	14,321	-8,996
	16,732	44,124	-27,392
	14	35	-21
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963
			67,963

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			-25
b			91,826
c			-40,655
d			-50,432
e			-8,528
			-68,149
			62,706
			-26,710
			-6,206
			-30,048
			-34,003
			87,509
			19,515
			-1,841
			-49,419
			13,356
			-3,899
			-3,750
			3,796
			-1,435
			-3,965
			67,819
			-14,542
			-5,169
			-834
			-12,762
			-463
			979
			62,015
			35,531
			-4,770
			-8,996
			-27,392
			-21

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	109,001
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE

1 Reserved

(a) Reserved	(b) Reserved	(c) Reserved	(d) Reserved

Reserved...........................

Reserved,..........................

Form 990-PF (2020)

Page 4

Part VI

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

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	3,613
c	All other domestic foundations enter 1.39% 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	3,613
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	3,613
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	2,856
b	Exempt foreign organizations—tax withheld at source......	6b	0
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	2,856
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	757
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax0	Refunded	11	0

Part VII-A

Statements Regarding Activities

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

Yes

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

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

for the definition.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

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

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

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

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

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

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

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

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

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.

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

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

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

Form 990-PF (2020)

Page 5

Part VII-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions Click to see attachment

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

Yes

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

Yes

Website address bullet

The books are in care of bullet

US BANK NA Telephone no. bullet

(503) 464-4908

Located at bullet

PO BOX 0634MILWAUKEEWI ZIP+4 bullet

532010634

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

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

16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo

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

16 No

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

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

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

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

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

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

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?...............YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).......YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........

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

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2020?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2020, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2020?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2020 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 2020.)..................

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

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?

Form 990-PF (2020)

Page 6

Part VII-B

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

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

Yes

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

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

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

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

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

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

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

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

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......

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

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?..........YesNo

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

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

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

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

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

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

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

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

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

Part VIII

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

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
RICHIE LAI	TRUSTEE 1	0
2418 6TH AVE W SEATTLE,WA98119	TRUSTEE 1	0
LEAH LAI	TRUSTEE 1	0
2418 6TH AVE W SEATTLE,WA98119	TRUSTEE 1	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2020)

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............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2020)

Page 8

Part X

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

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

purposes:

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

11,070,844

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

268,326

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

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

11,339,170

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

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

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

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

11,339,170

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

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

170,088

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

11,169,082

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

558,454

Part XI

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

and do not complete this part.)

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

558,454

Tax on investment income for 2020 from Part VI, line 5......

3,613

Income tax for 2020. (This does not include the tax from Part VI.)...

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

3,613

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

554,841

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

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

554,841

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

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

554,841

Part XII

Qualifying Distributions (see instructions)

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

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

534,940

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

534,940

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b. See instructions.................

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

534,940

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 (2020)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2019	(c) 2019	(d) 2020
1 Distributable amount for 2020 from Part XI, line 7					554,841
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......				529,191
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2020:
a From 2015......	0
b From 2016......	0
c From 2017......	0
d From 2018......	0
e From 2019......	0
fTotal of lines 3a through e........		0
4Qualifying distributions for 2020 from Part
XII, line 4: $ 534,940
a Applied to 2019, but not more than line 2a				529,191
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 2020 distributable amount.....					5,749
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2020.		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 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2020. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2021 ..........					549,092
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 2015 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2016....	0
b Excess from 2017....	0
c Excess from 2018....	0
d Excess from 2019....	0
e Excess from 2020....	0

Form 990-PF (2020)

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 2020, enter the date of the ruling....... bullet

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

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2020	(b) 2019	(c) 2018	(d) 2017	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

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

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

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

cAny submission deadlines:

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

Form 990-PF (2020)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
FIDELITY DAF IMA LAI CHAR FUND 200 SEAPORT BOULEVARD BOSTON,MA02210	NONE	PC	GENERAL OPERATING	410,000
MARYS PLACE SEATTLE PO BOX 1711 SEATTLE,WA981111711	NONE	PC	GENERAL OPERATING	25,000
PACIFIC SCIENCE CENTER 200 SECOND AVENUE NORTH SEATTLE,WA98109	NONE	PC	GENERAL OPERATING	10,000
FOOD LIFELINE 815 S 96TH STREET SEATTLE,WA98108	NONE	PC	GENERAL OPERATING	25,000
SEATTLE AQUARIUM 1483 ALASKAN WAY PIER 59 SEATTLE,WA98101	NONE	PC	GENERAL OPERATING	25,000
WOODLAND PARK ZOO 5500 PHINNEY AVE N SEATTLE,WA98103	NONE	PC	GENERAL OPERATING	25,000
SEATTLE THEATRE GROUP 911 PINE STREET SEATTLE,WA981011818	NONE	PC	GENERAL OPERATING	10,000
Total ................................. 3a				530,000

bApproved for future payment

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

Form 990-PF (2020)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities....			14	188,191
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	109,001
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)..				297,192

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

297,192

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2020)

Page 13

Part XVII

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

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

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

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

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2020 AccountingFeesSchedule

Name:

LAI FAMILY FOUNDATION

EIN:

82-3752078

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	1,500			1,500

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

LAI FAMILY FOUNDATION

EIN:

82-3752078

Name of Bond	End of Year Book Value	End of Year Fair Market Value
057071854 BAIRD AGGREGATE BOND	1,049,747	1,114,098
693390882 P I M C O FOREIGN BO	212,367	220,107
464288612 ISHARES BARCLAYS INT	1,029,984	1,114,992
258620103 DOUBLELINE TOTAL RET
464287457 ISHARES 1 3 YEAR TRE	325,311	332,822
87234N765 TCW EMERGING MARKETS
262028855 DRIEHAUS ACTIVE INCO

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

LAI FAMILY FOUNDATION

EIN:

82-3752078

Name of Stock	End of Year Book Value	End of Year Fair Market Value
375558103 GILEAD SCIENCES INC	42,103	31,227
539830109 LOCKHEED MARTIN CORP	7,120	7,455
608190104 MOHAWK INDS INC CO
779572106 T ROWE PRICE SMALL C	503,903	653,509
060505104 BANK OF AMERICA CORP	98,256	101,569
755111507 RAYTHEON COMPANY
247361702 DELTA AIR LINES INC
H1467J104 CHUBB LTD	44,659	48,485
78409V104 S P GLOBAL INC	31,920	54,240
30303M102 FACEBOOK INC A	41,685	62,827
559222401 MAGNA INTL INC CL
808513105 SCHWAB CHARLES CORP	60,946	65,080
46434G103 ISHARES CORE MSCI EM	369,111	439,119
92826C839 VISA INC	28,943	47,902
458140100 INTEL CORP	25,787	25,906
882508104 TEXAS INSTRUMENTS IN	26,566	39,884
03027X100 AMERICAN TOWER CORP	50,024	82,152
902252105 TYLER TECHNOLOGIES I	17,986	36,668
22160K105 COSTCO WHSL CORP	31,325	62,169
848637104 SPLUNK INC	20,516	33,978
28176E108 EDWARDS LIFESCIENCES	18,112	36,401
00287Y109 ABBVIE INC	25,766	29,573
09062X103 BIOGEN, INC
149498107 CAUSEWAY EMERGING MA
74254V273 PRINCIPAL GL R E SEC	302,302	315,646
430070409 HIGHLAND LONG SHORT
20030N101 COMCAST CORP CL A	17,177	24,366
31620M106 FIDELITY NATL INFORM	7,003	9,902
524660107 LEGGETT PLATT INC
440452100 HORMEL FOODS CORP	35,123	49,593
779556109 ROWE T PRICE MID-CAP	544,276	674,519
023135106 AMAZON.COM INC	33,387	309,408
46625H100 J P MORGAN CHASE CO	85,952	100,894
46432F842 ISHARES CORE MSCI EA	636,474	656,079
852234103 SQUARE INC A	30,930	130,584
713448108 PEPSICO INC	13,943	18,982
806857108 SCHLUMBERGER LTD
693475105 P N C FINANCIAL SERV
012653101 ALBEMARLE CORP	76,665	138,079
701877102 PARSLEY ENERGY INC-C
931142103 WAL MART STORES INC	65,708	101,626
437076102 HOME DEPOT INC	24,478	36,124
N59465109 MYLAN NV
024835100 AMERICAN CAMPUS COMM	23,451	26,945
56585A102 MARATHON PETROLEUM C	89,262	67,086
037833100 APPLE INC	74,093	279,180
412295107 HARDING LOEVNER INTL	631,285	775,928
91324P102 UNITED HEALTH GROUP	66,145	102,399
344849104 FOOT LOCKER INC
02079K305 ALPHABET INC CL A	100,676	161,243
256746108 DOLLAR TREE INC	14,380	16,206
693506107 P P G INDS INC
594918104 MICROSOFT CORP	33,822	333,630
278865100 ECOLAB INC	28,800	45,868
958102105 WESTERN DIGITAL CORP
127097103 CABOT OIL GAS CORP C	22,749	18,071
57636Q104 MASTERCARD INC	33,588	59,966
438516106 HONEYWELL INTERNATIO	58,287	86,356
81762P102 SERVICENOW INC	21,129	69,354
921910501 VANGUARD INTL GRWTH	459,810	745,460
15135B101 CENTENE CORP COM	25,464	30,015
670678507 NUVEEN REAL ESTATE S	362,891	360,026
29250N105 ENBRIDGE INC
00206R102 ATT INC	25,508	20,017
893641100 TRANSDIGM GROUP INC	24,144	52,602
110122157 BRISTOL MYERS SQUIBB	1,022	331
70450Y103 PAYPAL HOLDINGS INC	18,084	39,111
95058W100 WENDYS CO THE
478160104 JOHNSON JOHNSON	10,592	12,276
110122108 BRISTOL MYERS SQUIBB	26,832	29,774
09247X101 BLACKROCK INC	16,789	26,697
595112103 MICRON TECHNOLOGY IN	13,927	23,531
87807B107 TC ENERGY CORP
76680R206 RINGCENTRAL INC	17,476	62,530
46429B697 ISHARES MSCI USA MIN	647,176	738,602
17275R102 CISCO SYSTEMS INC	24,503	21,391
57772K101 MAXIM INTEGRATED PRO	12,099	18,173
192422103 COGNEX CORP	12,953	18,867
33829M101 FIVE BELOW
89400J107 TRANSUNION	12,621	17,860
88579Y101 3M CO	49,475	50,514
172967424 CITIGROUP INC	30,186	27,624
776696106 ROPER INDS INC	9,649	10,346
92556V106 VIATRIS INC	70,763	35,231
87612E106 TARGET CORP	25,814	37,777
717081103 PFIZER INC	16,096	16,565
12572Q105 CME GROUP INC	27,713	27,854
88339J105 TRADE DESK INC THE C	24,828	63,279
620076307 MOTOROLA SOLUTIONS I	28,276	36,393
031162100 AMGEN INC	32,472	31,039
N53745100 LYONDELLBASELL INDUS	17,842	24,657
217204106 COPART INC COM	25,435	37,666
79466L302 SALESFORCE COM INC	25,171	31,154
G1151C101 ACCENTURE PLC CL A	9,239	12,799
G6095L109 APTIV PLC	10,489	20,846
98419M100 XYLEM INC	7,900	12,113

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

LAI FAMILY FOUNDATION

EIN:

82-3752078

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
74440B884 PGIM TOTAL RETURN BO	AT COST	444,560	456,649

- TIN:

TY 2020 OtherAssetsSchedule

Name:

LAI FAMILY FOUNDATION

EIN:

82-3752078

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
ACCRUED INCOME		0	0
000000000 MISCELLANEOUS ENTRY	2,892	1,475	1,475

- TIN:

TY 2020 OtherDecreasesSchedule

Name:

LAI FAMILY FOUNDATION

EIN:

82-3752078

Description	Amount
COST BASIS ADJUSTMENT	347
BRISTOL MYERS ADJ	3,298

- TIN:

TY 2020 OtherExpensesSchedule

Name:

LAI FAMILY FOUNDATION

EIN:

82-3752078

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
STATE FILING FEE/TAX	25	0		25

- TIN:

TY 2020 OtherIncreasesSchedule

Name:

LAI FAMILY FOUNDATION

EIN:

82-3752078

Description	Amount
MYLAN CORPORATE ACTION ADJUSTMENT	41,158

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

LAI FAMILY FOUNDATION

EIN:

82-3752078

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
OTHER EXPENSE (NON-DEDUCTIBLE	34,151	30,736		3,415

- TIN:

TY 2020 TaxesSchedule

Name:

LAI FAMILY FOUNDATION

EIN:

82-3752078

Category	Amount	Net Investment Income
FOREIGN TAXES	3,847	3,847
FEDERAL ESTIMATES - PRINCIPAL	1,428	0
FOREIGN TAXES ON NONQUALIFIED	425	425