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
THE GALLAGHER FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)5115 EXCELSIOR BLVD NO 340
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ST LOUIS PARK, MN55413
A Employer identification number

41-2019884
B Telephone number (see instructions)

(612) 669-3510
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$10,504,417J 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) 551,085
2 Check bullet.............
3 Interest on savings and temporary cash investments 520 520  
4 Dividends and interest from securities... 239,651 239,651  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -169,615
b Gross sales price for all assets on line 6a 4,005,745
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 621,641 240,171  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 105,991 0   0
14 Other employee salaries and wages...... 37,163 0   37,163
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 16,906 0   16,906
c Other professional fees (attach schedule).... Click to see attachment 21,442 14,892   6,550
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 34,226 0   34,226
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 672 0   672
22 Printing and publications.......... 529 0   529
23 Other expenses (attach schedule)....... Click to see attachment 105,649 0   105,649
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 322,578 14,892   201,695
25 Contributions, gifts, grants paid....... 622,518 622,518
26 Total expenses and disbursements. Add lines 24 and 25 945,096 14,892   824,213
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -323,455
b Net investment income (if negative, enter -0-) 225,279
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............. 264,028 180,245 180,245
2 Savings and temporary cash investments.........   283,123 283,123
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.......... 328,683    
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 8,279,514 Click to see attachment5,343,286 7,532,645
c Investments—corporate bonds (attach schedule)....... 0 Click to see attachment1,847,382 1,965,823
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 5,536 Click to see attachment525,330 542,581
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) 8,877,761 8,179,366 10,504,417
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 8,877,761 8,179,366
29 Total net assets or fund balances (see instructions)..... 8,877,761 8,179,366
30 Total liabilities and net assets/fund balances (see instructions). 8,877,761 8,179,366
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
8,877,761
2
Enter amount from Part I, line 27a .....................
2
-323,455
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
8,554,306
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
374,940
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
8,179,366
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 BAIRD AGGREGATE BOND INSTL     2020-01-22
b BROOKFIELD GLBL LISTED REAL ESTATE Y     2020-01-22
c DFA EMERGIN MKTS VALUE PORT INSTL   2015-11-09 2020-01-22
d DODGE & COX INCOME FUND   2016-02-04 2020-01-22
e DODGE & COX INTL STOCK FUND   2015-11-09 2020-01-22
HARDING LOEVNER INST EMRG MKTS CL I   2015-11-09 2020-01-22
HOTCHKIS & WILEY HIGH YIELD FD CL I     2020-01-22
INVESCO OPPENHEIMER STEELPATH MLP     2020-01-22
MAINGATE MLP FD CL I     2020-01-22
OAKMARK INTL FD ADV   2015-11-09 2020-01-22
PIMCO EMRG MKTS LOCAL CURRENCY & BD INST     2020-01-22
PIMCO INTL BOND UNHEDGED INST   2018-09-06 2020-01-22
VANGUARD INFLATION PROTECTED SEC ADM SHR   2016-09-02 2020-01-22
VANGUARD TOTAL STOCK MKT INDEX FD ADMIRAL SHARE   2015-11-09 2020-01-22
PIMCO INTL BOND US DOLLAR HEDGED INST     2020-03-10
BROOKFIELD GLOBAL LISTED REAL ESTATE Y     2020-06-30
DODGE & COX INTERNATIONAL STOCK     2020-06-30
HARDING LOEVNER INSTL EMERG MKTS I   2019-12-17 2020-06-30
HOTCHKIS & WILEY HIGH YIELD I   2015-11-09 2020-06-30
INVESCO OPPENHEIMER STEELPATH MLP SLCT 40 R6     2020-06-30
GQG PARTNERS EMERGING MARKETS EQUITYINST   2021-06-30 2020-07-21
MAINGATE MLP I     2020-07-21
RECURRENT MLP & INFRASTRUCTURE CLASS I   2020-06-30 2020-07-21
BAIRD AGGREGATE BOND INST   2016-09-02 2020-06-30
DFA EMERGING MARKETS VALUE I   2015-11-09 2020-06-30
DODGE & COX INCOME   2020-09-26 2020-06-30
OAKMARK INTERNATIONAL ADVISOR   2015-11-09 2020-07-21
VANGUARD TOTAL STOCK MKT IDX ADM     2020-07-21
OAKLEAF PARTNERSHIP P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 115,000   106,092 8,908
b 40,000   37,529 2,471
c 45,000   39,000 6,000
d 185,000   175,724 9,276
e 65,000   59,079 5,921
70,000   52,871 17,129
32,000   34,279 -2,279
20,000   21,306 -1,306
20,000   22,922 -2,922
70,000   66,826 3,174
93,030   95,255 -2,225
10,000   10,115 -115
25,000   24,471 529
215,000   136,248 78,752
10,000   9,756 244
140,630   171,219 -30,589
845,858   895,900 -50,042
392,496   379,879 12,617
148,226   170,413 -22,187
348,918   529,059 -180,141
10,000   9,061 939
180,000   298,360 -118,360
105,000   100,546 4,454
105,000   96,516 8,484
419,587   437,603 -18,016
10,000   9,466 534
10,000   11,431 -1,431
275,000   172,177 102,823
    2,257 -2,257
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       8,908
b       2,471
c       6,000
d       9,276
e       5,921
      17,129
      -2,279
      -1,306
      -2,922
      3,174
      -2,225
      -115
      529
      78,752
      244
      -30,589
      -50,042
      12,617
      -22,187
      -180,141
      939
      -118,360
      4,454
      8,484
      -18,016
      534
      -1,431
      102,823
      -2,257
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 -169,615
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 3,131
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 3,131
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 3,131
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 8,236
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 8,236
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 5,105
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet5,105 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
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
    No
    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 instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.GALLAGHERFOUNDATION.ORG
    14
    The books are in care ofbulletMEGAN G PRINDIVILLE Telephone no.bullet (612) 669-3510

    Located atbullet5115 EXCELSIOR BLVD NO 340ST LOUIS PARKMN ZIP+4bullet55413
    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
     
     
    ........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
     
     
    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
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    ELLEN M GALLAGHER SECRETARY/DIRECTOR
    0.25     		0 0 0
    5115 EXCELSIOR BLVD SUITE 340
    ST LOUIS PARK,MN55416
    GERALD P GALLAGHER CHAIR/TREASURER/DIRECTOR
    0.25     		0 0 0
    5115 EXCELSIOR BLVD SUITE 340
    ST LOUIS PARK,MN55416
    MEGAN G PRINDIVILLE PRESIDENT/DIRECTOR
    40.00     		105,991 0 0
    5115 EXCELSIOR BLVD SUITE 340
    ST LOUIS PARK,MN55416
    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
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................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
    8,408,815
    b
    Average of monthly cash balances.......................
    1b
    561,751
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    8,970,566
    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
    8,970,566
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    134,558
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    8,836,008
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    441,800
    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
    441,800
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    3,131
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    3,131
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    438,669
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    438,669
    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
    438,669
    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
    824,213
    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
    824,213
    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
    824,213
    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 7 438,669
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 632,891
    b From 2016...... 547,265
    c From 2017...... 478,781
    d From 2018...... 495,128
    e From 2019...... 594,172
    fTotal of lines 3a through e........ 2,748,237
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 824,213
    a Applied to 2019, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 438,669
    e Remaining amount distributed out of corpus 385,544
    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 3,133,781
    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 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		632,891
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		2,500,890
    10 Analysis of line 9:
    a Excess from 2016.... 547,265
    b Excess from 2017.... 478,781
    c Excess from 2018.... 495,128
    d Excess from 2019.... 594,172
    e Excess from 2020.... 385,544
    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).)
    ELLEN M GALLAGHER
    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
    LUIS ANGEL CORREA HERNANDEZ
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 7,250
    MARIA TERESA GARCIA VILLALPANDO
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    ORLANDA NAJERA ANDRADE
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    TOMAS ARENAS REYES
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    MOISES ALEJANDRO LEYVA SANJUAN
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    DANIEL CARRILLO SILVA
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    DELIA ITZEL LOPEZ DUENAS
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    MARIANA DE ABRIL AYALA MIRANDA
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    CECIL DAVID LOPEZ BARRERA
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    IQUI BALAM HEREDIA MARIN
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    GUILLERMO ALEJANDRO NAVARRO VIRGEN
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    CARLOS EDUARDO ROLON ARROYO
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    IRIS ALEXSANDRA TUTON JASSO
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    CARLOS TOVAR GUAGNELLI
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    LEYRE CARPINTEYRO PALOS
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 7,250
    JORGE LUIS AYALA HERNANDEZ
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    CINTHIA ITA-I CELAYA GONZALEZ
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    DENISSE DIX CEDENO
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    ATZIRI LUDIM GARCIA GARCIA
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    JULIAN JACOBO NAVARRO AGUILAR
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,500
    ANDREA MARISOL SALCEDO VAZQUEZ
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,295
    HANIA GUADALUPE GUERRERO DEL ANGEL
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,295
    KEVIN ALI ZUNIGA ALVAREZ
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,295
    NATALIE PEREZ GUADARRAMA
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,295
    RICARDO DE JESUS BALAM EK
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,295
    MICHELLE ADNERSON
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X3
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 13,713
    MELLISSA BAM
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X4
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,381
    BLESSINGS DINAKE
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X5
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 5,742
    LEONORA DUBE
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X6
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,093
    SANTHURI GOVENDER
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X7
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 12,354
    MONALISA JOHNSON
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X8
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 11,425
    ANGEL STEPHANIE KABILA NKULU
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X9
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,093
    KATLEGO KGOMARI
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X10
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,812
    MODJADJI MAAKE
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X11
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 11,597
    TSHWANELO MAFATLE
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X12
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,408
    DON MAISELS
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X13
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 10,535
    ASENATHI MANDONGANA
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X14
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 12,387
    MMBEREGENI MAPHOLI
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X15
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,531
    LUXOLO MDOLO
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X16
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 13,763
    GABRIELLA MOGALE
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X17
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,055
    NOMPILO MPANZA
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X18
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,803
    THEMBISILE NDLOVU
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X19
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,662
    SGWILI NZAMA
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X20
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,390
    NATHINA PAKADE
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X21
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 13,312
    MONGATANE SHAKU
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X22
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 11,071
    CHRISTIAN TEREZE
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X23
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 11,658
    NONTOBEKO ZIKALI
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X24
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,196
    CHARMAINE ZITHA
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X25
    RODENBOSCH   7701
    SF     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,653
    OZGE PEHLIVAN
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 2,549
    ILKNUR CILINGIR
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 1,659
    BEYZA BEYAZ
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 3,234
    EGE KINGIR
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 2,422
    VILDAN BAYDUR
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 2,978
    BERKAY GUMUS
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 2,978
    MERYEM NESIBE GEDEMENLI
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 4,221
    YUNUS KAAN ARSLAN
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 4,572
    MUSERREF CETINKAYA
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 3,325
    ILAYDA ALTIOK
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 3,875
    MUSTAFA DEMIR
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 4,364
    SERGEN KAHRAMAN COTAK
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 4,079
    ZEYNEP ILIK
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 1,865
    DICLE HELIN SARIGUL
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 2,619
    YUSUF EMRE SAHIN
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 1,865
    MERVE BOZKURT
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 4,507
    NUR CEREN AYDINOGLU
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 3,753
    EMRE HAYATOGLU
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 793
    M EMIN AKYAR
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 1,470
    CANAN BALKAN
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 793
    DERYA DOLGUN
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE   COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 716
    Total .................................bullet 3a 614,246
    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 ...........     		    14 520  
    4 Dividends and interest from securities....     14 239,651  
    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 -169,615  
    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 70,556 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    70,556
    (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
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2020
    Name of the organization
    THE GALLAGHER FOUNDATION
     
    Employer identification number

    41-2019884
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    THE GALLAGHER FOUNDATION
          		Employer identification number
    41-2019884
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    ELLEN GALLAGHER
     
    3208 WEST LAKE STREET 101
     
    MINNEAPOLIS, MN55416

    		$ 550,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    Name of organization
    THE GALLAGHER FOUNDATION
          		Employer identification number

    41-2019884
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    THE GALLAGHER FOUNDATION
          		Employer identification number

    41-2019884
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2020 AccountingFeesSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CLIFTONLARSONALLEN 2,356 0   2,356
    DORSEY & WHITNEY LLP 14,550 0   14,550

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ARTISAN HIGH INCOME ADVI 61,978 68,340
    BAIRD AGGREGATE BOND INS 204,253 220,410
    DODGE & COX INCOME 211,008 223,982
    EATON VANCE EMERGING MAR 33,148 35,422
    PIMCO INTERNATIONAL BOND 13,797 15,377
    PIMCO INTERNATIONAL BOND 13,995 14,502
    VANGUARD INFLATION-PROTE 31,348 34,318
    ARTISAN HIGH INCOME ADVI 118,413 129,450
    BAIRD AGGREGATE BOND INS 497,520 524,861
    DODGE & COX INCOME 499,656 523,656
    EATON VANCE EMERGING MAR 53,215 56,750
    PIMCO INTERNATIONAL BOND 31,420 34,799
    PIMCO INTERNATIONAL BOND 28,152 29,288
    VANGUARD INFLATION-PROTE 49,479 54,668

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AMERICAN FUNDS EUROPACIF 271,432 355,175
    GQG PARTNERS EMERGING MA 121,332 163,843
    MAINGATE MLP I 54,007 57,550
    OAKMARK INTERNATIONAL AD 338,447 402,345
    PIMCO RAE EMERGING MARKE 132,636 161,017
    RECURRENT MLP & INFRASTR 54,255 56,851
    VANGUARD TOTAL STOCK MKT 639,027 1,101,086
    AMERICAN FUNDS EUROPACIF 583,058 758,669
    GQG PARTNERS EMERGING MA 250,813 338,709
    MAINGATE MLP I 184,544 146,886
    OAKMARK INTERNATIONAL AD 711,671 817,539
    PIMCO RAE EMERGING MARKE 306,083 371,602
    RECURRENT MLP & INFRASTR 137,844 144,710
    VANGUARD TOTAL STOCK MKT 1,558,137 2,656,663

    TY 2020 InvestmentsOtherSchedule2
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    OAK LEAF PARTNERS AT COST 3,827 3,827
    ISHARES CORE US REIT AT COST 183,114 189,226
    ISHARES CORE US REIT AT COST 338,389 349,528

    TY 2020 OtherDecreasesSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Description Amount
    PRIOR PERIOD ADJUSTMENT 374,940


    TY 2020 OtherExpensesSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ASSOCIATION 518 0   518
    BANKING SERVICE CHARGE 1,964 0   1,964
    COMMUNICATIONS 682 0   682
    COUNTRY DIRECTOR-MEXICO 14,160 0   14,160
    COUNTRY DIRECTOR-SOUTH AFRICA 30,345 0   30,345
    COUNTRY DIRECTOR-TURKEY 12,427 0   12,427
    DATABASE ASSISTANT 1,785 0   1,785
    GRADUATION PLAQUES 12,242 0   12,242
    INFORMATION TECHNOLOGY 2,225 0   2,225
    INSURANCE 2,232 0   2,232
    OFFICE SUPPORT 5,636 0   5,636
    OTHER 1,442 0   1,442
    STUDENT GATHERINGS 13,686 0   13,686
    TRAINING 712 0   712
    WEBSITE 945 0   945
    PAYROLL ADMIN EXPENSE 648 0   648
    GRADUWAY 4,000 0   4,000


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER FEES 21,442 14,892   6,550


    TY 2020 TaxesSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL TAXES 34,226 0   34,226