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
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
KAENA FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)50 SOUTH SIXTH STREET NO 1500
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN55402
A Employer identification number

46-2692867
B Telephone number (see instructions)

(612) 492-6813
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$134,264,213J 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... 1,262,196 1,371,378  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,026,706
b Gross sales price for all assets on line 6a 64,577,989
7 Capital gain net income (from Part IV, line 2)... 74,187
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)....... Click to see attachment 0 1,559,068  
12 Total. Add lines 1 through 11........ 2,288,902 3,004,633  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 20,000 10,000   10,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 20,064 10,032   10,032
b Accounting fees (attach schedule)....... Click to see attachment 70,091 44,443   15,627
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 54,887 52,793   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 897,041 821,912   453,873
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,062,083 939,180   489,532
25 Contributions, gifts, grants paid....... 5,500,000 5,500,000
26 Total expenses and disbursements. Add lines 24 and 25 6,562,083 939,180   5,989,532
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -4,273,181
b Net investment income (if negative, enter -0-) 2,065,453
c Adjusted net income (if negative, enter -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 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............. 914,252 143,939 143,939
2 Savings and temporary cash investments......... 3,263,671 3,962,619 3,962,619
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
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) 0 Click to see attachment5,333,413 5,344,894
b Investments—corporate stock (attach schedule)....... 5,754,699 Click to see attachment10,357,195 13,401,276
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 109,625,346 Click to see attachment95,487,621 111,411,485
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 119,557,968 115,284,787 134,264,213
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 119,557,968 115,284,787
29 Total net assets or fund balances (see instructions)..... 119,557,968 115,284,787
30 Total liabilities and net assets/fund balances (see instructions). 119,557,968 115,284,787
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
119,557,968
2
Enter amount from Part I, line 27a .....................
2
-4,273,181
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
115,284,787
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
115,284,787
Form 990-PF (2020)
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 PUBLICLY TRADED SECURITIES P 2020-01-01 2020-12-31
b CAPITAL GAIN DISTRIB. FROM PUBLICLY TRADED SEC. P 2020-01-01 2020-12-31
c CAPITAL GAINS FROM SCHEDULE K-1'S P 2020-01-01 2020-12-31
d CAPITAL LOSS FROM FOREIGN CORPORATIONS P 2020-01-01 2020-12-31
e
(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 64,134,460   63,496,731 637,729
b 188,651     188,651
c 254,878     254,878
d     1,007,071 -1,007,071
e
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       637,729
b       188,651
c       254,878
d       -1,007,071
e
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 74,187
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
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 Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 28,710
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 28,710
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 28,710
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 57,445
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 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 57,445
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 28,735
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet28,735 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 the instructions
for the 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)
    bulletMN
    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 2020 or the taxable year beginning in 2020? 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 (2020)
    Form 990-PF (2020)
    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 instructionsClick to see attachment.................
    12
    Yes
     
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletSONNY MILLER Telephone no.bullet (612) 492-6813

    Located atbullet50 SOUTH SIXTH STREET STE 1500MINNEAPOLISMN ZIP+4bullet55402
    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 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
    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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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 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.)..................
    3b
     
    No
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    JOHN OTTERLEI PRESIDENT/TREASURER
    1.00     		10,000 0 0
    101 FIFTH EAST STREET SUITE 2400
    SAINT PAUL,MN55101
    SONNY MILLER VICE PRESIDENT/SECRETARY
    1.00     		10,000 0 0
    50 SOUTH SIXTH STREET SUITE 1500
    MINNEAPOLIS,MN55402
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    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
    CAMBRIDGE ASSOCIATES INVESTMENT ADVISORY SERVICES 349,280
    125 HIGH STREET OLIVER TOWER
    BOSTON,MA02110
    ARABELLA ADVISORS LLC PHILANTHROPIC ADVISORY SERVICES 285,690
    1201 CONNECTICUT AVE NW 300
    WASHINGTON,DC20036
    POWERED BY SHIKATI LLC PHILANTHROPIC ADVISORY SERVICES 166,000
    1021 CRITTENDEN STREET NE
    WASHINGTON,DC20017
    US BANK FINANCIAL SERVICES 55,640
    1555 N RIVERCENTER DR SUITE 300
    MILWAUKEE,WI53212
    DELOITTE TAX LLP TAX ADVISORY SERVICES 52,091
    50 S SIXTH STREET 2700
    MINNEAPOLIS,MN55402
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    67,255,455
    b
    Average of monthly cash balances.......................
    1b
    1,784,753
    c
    Fair market value of all other assets (see instructions)................
    1c
    55,743,945
    d
    Total (add lines 1a, b, and c).........................
    1d
    124,784,153
    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
    124,784,153
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,871,762
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    122,912,391
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    6,145,620
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    6,145,620
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    28,710
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    28,710
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    6,116,910
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    6,116,910
    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
    6,116,910
    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
    5,989,532
    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
    5,989,532
    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
    5,989,532
    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)
    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 6,116,910
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 5,492,605
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 5,989,532
    a Applied to 2019, but not more than line 2a 5,492,605
    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..... 496,927
    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 ..........     		5,619,983
    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....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    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 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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 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)
    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)
    aPaid during the year
    FIDELITY CHARITABLE GIFT FUND
    PO BOX 770001
    CINCINNATI,OH452770053     		N/A PC GENERAL OPERATIONS 5,500,000
    Total .................................bullet 3a 5,500,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    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
    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 1,262,196  
    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 1,026,706  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 2,288,902 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,288,902
    (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 (2020)
    Form 990-PF (2020)
    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 instructions.
    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 (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    KAENA FOUNDATION
    EIN:
    46-2692867
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 70,091 44,443   15,627

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    KAENA FOUNDATION
    EIN:
    46-2692867
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ALIGN TECHNOLOGY INC 93,141 280,015
    ALTERYX INC 257,352 260,509
    COSTAR GROUP INC 113,620 256,026
    GARTNER INC 218,290 256,464
    INTERACTIVE BROKERS GROUP CI A 240,659 231,009
    PEGASYSTEMS INC 237,988 406,976
    SQUARE INC A 173,619 640,297
    WAYFAIR INC 147,620 379,135
    WORKDAY INC 267,101 478,501
    AMN 70,705 84,630
    AEROJET 107,847 140,053
    AMERISAFE INC 56,857 53,984
    ARES CAPITAL CORP 48,838 62,155
    ELEMENT SOLUTIONS INC 68,058 116,486
    ENERSYS 92,018 138,295
    EVOQUA WATER TECHNOLOGIES CO 108,034 183,329
    EXTENDED STAY AMERICA INC 90,524 110,038
    FIRSTCASH INC 74,792 75,643
    HOWARD HUGHES CORP 58,173 89,191
    KEMPER CORP 68,923 82,208
    MSC INDL 73,977 105,909
    MARRIOTT VACATIONS WORLD 55,030 98,798
    NV5 GLOBAL INC 74,001 130,381
    PERSPECTA INC 78,432 88,614
    RUSH ENTERPRISES INC 59,817 100,941
    TEGNA INC 83,675 109,787
    THERMON GROUP HOLDINGS INC 44,944 48,140
    UNIFIRST CORP MASS 58,746 77,267
    UPLAND SOFTWARE INC 64,789 97,287
    VERTIV HOLDINGS LLC L P 101,740 176,618
    VIASAT INC 103,892 86,359
    WESCO INTERNATIONAL INC 47,482 140,908
    WW INTERNATIONAL INC 80,056 84,424
    ZEBRA TECHNOLOGIES CORP CL A 133,560 219,068
    ALPHABET INC. CAP STK CL C 215,632 297,820
    ANHEUSER BUSCH INBEV SA NV SHS ISIN 187,889 142,910
    BERKSHIRE HATHAWAY INC DEL CL A 283,873 347,815
    BERKSHIRE HATHWAY INC DEL CL B NEW 171,392 208,683
    BROWN FORMAN CORP CL A 73,433 109,103
    BROWN FORMAN CORP CL B 3,701 6,196
    CABLE ONE INC COM 38,985 40,099
    CIE FINANCIERE RICHEMONT AG ZUG NAMEN AKT 208,394 232,599
    COMCAST CORP CL A 82,968 119,734
    HEINEKIN HLDG NV SHS 277,679 274,400
    JP MORGAN CHASE & CO COM 144,168 198,229
    MARTIN MARIETTA MATLS INC COM 80,589 106,489
    MASTERCARD INC. CL A COM 302,064 546,475
    NESTLE SA SPONSORED ADR REPSTG REG SHS 278,555 421,135
    PERNOD RICARD ORD SHS 237,971 280,838
    PHILIP MORRIS INTL INC COM 255,037 264,762
    UNILEVER NV NEW YORK SHS NEW 228,035 249,709
    AT T INC 92,486 95,563
    ABBOTT LABORATORIES 87,581 87,858
    ABBVIE INC 88,334 89,127
    AMERICAN EXPRESS CO 68,564 69,343
    AMERICAN HONDA MTN 88,022 87,898
    ANHEUSER BUSCH 89,347 92,618
    ANTHEM INC 87,519 88,663
    BANK OF AMERICA MTN 133,673 135,450
    BANK OF NY MTN 137,346 138,065
    BOSTON PROPERTIES 43,358 43,464
    CVS HEALTH CORP 92,086 95,197
    CITIGROUP INC 148,326 152,474
    COMCAST CORP 134,753 135,382
    DTE ENERGY 91,962 92,238
    JOHN DEERE MTN 148,666 147,382
    DIAGEO INV 135,767 134,429
    WALT DISNEY COMPANY 137,174 141,097
    GENERAL MILLS 92,682 92,572
    GOLDMAN SACHS 92,345 93,811
    HOME DEPOT INC 135,006 136,403
    JPMORGAN 136,192 139,205
    LINCOLN NATIONAL 32,600 33,461
    LOCKHEED MARTIN CORP 96,472 96,552
    MASTERCARD 132,274 133,715
    MICROSOFT CORP 177,538 177,235
    MORGAN STANLEY MTN 88,426 89,024
    NEXTERA ENERGY 91,669 91,884
    NIKE INC ST 135,146 134,711
    PAYPAL HOLDINGS INC 46,663 46,496
    PROLOGIS L P 98,232 99,023
    SIMON PROPERTY GROUP 87,912 88,829
    TARGET CORP 69,467 69,580
    THERMO FISHER 91,100 90,963
    UNITEDHEALTH GROUP 136,367 136,721
    VERIZON 87,475 88,402

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    KAENA FOUNDATION
    EIN:
    46-2692867
    US Government Securities - End of Year Book Value:

    3,409,773
    US Government Securities - End of Year Fair Market Value:

    3,385,999
    State & Local Government Securities - End of Year Book Value:


    1,923,640
    State & Local Government Securities - End of Year Fair Market Value:


    1,958,895


    TY 2020 InvestmentsOtherSchedule2
    Name:
    KAENA FOUNDATION
    EIN:
    46-2692867
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    GQG PARTNERS AT COST 2,016,905 2,525,484
    ARTISAN INTL VALUE FUNDS INC AT COST 2,030,019 3,083,117
    DFA EMERGING MARKETS VALUE AT COST 5,846,568 5,566,013
    GMO CLIMATE AT COST 2,394,277 3,759,109
    ISHARES CORE MSCI EMERGING MKTS ETF AT COST 1,806,869 2,273,021
    LONGLEAF PARTNERS FUND AT COST 1,338,851 1,387,384
    TWEEDY BROWNE GLOBAL VALUE II CCY AT COST 4,097,959 4,200,369
    VANGUARD FTSE DEVELOPED ETF AT COST 5,856,769 6,638,764
    VANGUARD TOTAL WORLD STOCK INDEX ETF AT COST 4,113,166 4,825,084
    VANGUARD S P 500 ETF AT COST 6,534,841 8,143,047
    VANGUARD REAL ESTATE ETF AT COST 1,406,772 1,392,597
    F P A NEW INCOME FUND AT COST 1,205,264 1,205,268
    ISHARES CORE U.S. AGGREGATE BOND ETF AT COST 4,439,980 4,438,744
    VANGUARD TOTAL BOND MARKET INDEX I AT COST 3 3
    VANGUARD TOTAL BOND MARKET INDEX ADM AT COST 3 3
    VANGUARD INFLATION PROTECTED SECS AD AT COST 2,425,962 2,442,265
    FPA CRESENT PORTFOLIO CL L AT COST 1,552,301 1,637,754
    NOKOTA LCB, LLC (NOKOTA LC, LLC) AT COST 127,010 117,832
    RETHINK IMPACT II, LP AT COST 54,567 44,171
    GOLDENTREE SELECT OFFSHORE LTD. AT COST 1,700,000 2,048,066
    ARROWSTREET GLOBAL EQ ACWI TR AT COST 2,400,000 2,966,867
    STEWART INVESTORS GLOBAL EMER MRKTS AT COST 2,195,796 3,055,289
    IMPACT AMERICA FUND II AT COST 176,800 167,287
    RENAISSANCE INSTITUTIONAL EQUITIES AT COST 1,100,000 1,031,169
    DAVIDSON KEMPNER INSTITUTIONAL PARNTERS AT COST 2,500,000 2,866,850
    CEVIAN CAPITAL II LTD. AT COST 2,750,000 3,006,634
    TELEGRAPH HILL PARTNERS IV LP AT COST 430,000 543,861
    SUSTAINABLE ASSET FUND II (CAYMAN) AT COST 495,659 478,069
    PALATINE REAL ESTATE FUND III, LP AT COST 154,200 110,459
    RRG GLOBAL PARTNERS FUND, L.P. AT COST 914,238 1,012,359
    HULL STREET ENERGY PARTNERS I-A, LP AT COST 493,013 500,185
    NOKOTA CAPITAL HOLDBACK AT COST 90,437 90,437
    W CAPITAL PARTNERS IV-A, L.P. AT COST 326,887 492,944
    V3 REALTY PARTNERS (A), L.P. AT COST 1,600,000 1,686,213
    IRIDIAN PRIVATE BUSINESS VALUE EQUITY AT COST 1,250,000 1,607,846
    OBVIOUS VENTURES III, L.P. AT COST 168,000 152,419
    HARVEST MLP INCOME FUND III LLC AT COST 2,847,000 2,478,228
    INCLUSIVE CAP PARTNERS SPRING INTL (PREV NAMED VALUEACT) AT COST 2,200,000 2,733,652
    OWNERSHIP CAP. GLOBAL EQ AT COST 1,900,000 2,798,214
    INDABA CAPITAL PARTNERS AT COST 1,600,000 2,161,822
    PARAMETRIC GLOBAL DEFENSIVE EQUITY AT COST 900,000 1,015,099
    MAKAIRA INVESTORS AT COST 2,600,000 3,766,727
    VALINOR CAPITAL PARTNERS OFFSHORE AT COST 262,500 286,031
    CANYON BALANCED FUND (CAYMAN) AT COST 1,307,654 1,378,931
    VARDE CREDIT PATNERS OFFSHORE AT COST 1,700,000 1,811,562
    TYBOURNE EQUITY (OFFSHORE) FUND AT COST 1,400,000 1,770,283
    HBK MULTI-STRATEGY OFFSHORE FUND LTD. AT COST 2,400,000 2,692,518
    KINGSTOWN PARNTERS OFFSHORE LIMITED AT COST 3,539,804 3,077,363
    WHALE ROCK FLAGSHIP FUND LTD. AT COST 1,584,489 2,931,213
    GRAHAM GLOBAL INVESTMENT FUND II AT COST 992,104 1,119,260
    MAVERICK LONG LTD. AT COST 3,502,594 5,078,366
    ONESPAWORLD HOLDINGS LTD AT COST 69,091 124,570
    BANK OF MONTREAL MTN AT COST 124,589 123,900
    BANK OF NOVA AT COST 133,858 134,256
    ENBRIDGE INC. AT COST 46,744 46,662
    ROYAL BANK OF MTN AT COST 118,853 118,760
    SHELL INTERNATIONAL AT COST 131,990 133,012
    STATOIL ASA AT COST 133,235 132,756
    COMPAGNIE FINANCIERE RICHEMONT SA WARRANT AT COST 0 1,317

    TY 2020 LegalFeesSchedule
    Name:
    KAENA FOUNDATION
    EIN:
    46-2692867
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 20,064 10,032   10,032


    TY 2020 OtherExpensesSchedule
    Name:
    KAENA FOUNDATION
    EIN:
    46-2692867
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 1,871 1,871   0
    OTHER EXPENSES 1,295 648   648
    MINNESOTA FILING FEE 25 0   25
    INVESTMENT ADVISORY FEES 349,280 349,280   0
    CHASTANET LLC 1,500 0   1,500
    ARABELLA ADVISORS 285,690 0   285,690
    OTHER EXPENSES FROM SCHEDULE K-1'S 0 386,278   0
    PERSHING INVESTMENT EXPENSES 35,730 35,730   0
    US BANK INVESTMENT EXPENSES 55,640 48,105   0
    POWERED BY SHAKTI, LLC 166,000 0   166,000
    CALIFORNIA FILING FEE 10 0   10


    TY 2020 OtherIncomeSchedule2
    Name:
    KAENA FOUNDATION
    EIN:
    46-2692867
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INCOME FROM SCHEDULE K-1'S   537,559  
    DIVIDENDS FROM FOREIGN CORPORATIONS 0 1,021,509 0


    TY 2020 TaxesSchedule
    Name:
    KAENA FOUNDATION
    EIN:
    46-2692867
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX 2,500 0   0
    US BANK FOREIGN TAXES PAID 47,262 47,262   0
    PERSHING FOREIGN TAXES PAID 3,858 5,531   0
    CA FRANCHISE TAX 1,267 0   0