Form990-PF
Click to see attachment

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 Carl Gellert and Celia Berta Gellert
Foundation
Number and street (or P.O. box number if mail is not delivered to street address)455 Hickey Boulevard No 509
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Daly City, CA94015
A Employer identification number

94-6062858
B Telephone number (see instructions)

(650) 985-2082
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$43,059,918J 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 1,737 1,737  
4 Dividends and interest from securities... 611,547 611,547  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,258,687
b Gross sales price for all assets on line 6a 21,615,750
7 Capital gain net income (from Part IV, line 2)... 2,258,687
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 -71,046 -90,329  
12 Total. Add lines 1 through 11........ 2,800,925 2,781,642  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 232,754 93,102   139,652
14 Other employee salaries and wages...... 138,949 55,580   83,369
15 Pension plans, employee benefits....... 15,433 6,173   9,260
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 27,495 10,998   16,497
c Other professional fees (attach schedule).... Click to see attachment 218,393 177,236   41,157
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 43,856 7,087   9,269
19 Depreciation (attach schedule) and depletion... 3,079 0  
20 Occupancy.............. 49,307 19,723   29,584
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 20,694 7,636   12,878
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 749,960 377,535   341,666
25 Contributions, gifts, grants paid....... 2,297,213 2,297,213
26 Total expenses and disbursements. Add lines 24 and 25 3,047,173 377,535   2,638,879
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -246,248
b Net investment income (if negative, enter -0-) 2,404,107
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.............      
2 Savings and temporary cash investments......... 538,276 625,802 625,802
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)      
b Investments—corporate stock (attach schedule)....... 4,471,295 Click to see attachment3,725,867 4,836,366
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).......... 32,203,024 Click to see attachment32,616,228 37,585,259
14 Land, buildings, and equipment: basis bullet69,948
Less: accumulated depreciation (attach schedule) bullet61,830 9,490 Click to see attachment8,118 8,118
15 Other assets (describe bullet) Click to see attachment4,373 Click to see attachment4,373 Click to see attachment4,373
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 37,226,458 36,980,388 43,059,918
Liabilities 17 Accounts payable and accrued expenses..........   178
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)......... 0 178
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........... 37,226,458 36,980,210
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 37,226,458 36,980,210
30 Total liabilities and net assets/fund balances (see instructions). 37,226,458 36,980,388
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
37,226,458
2
Enter amount from Part I, line 27a .....................
2
-246,248
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
36,980,210
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
36,980,210
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      
b Pass-through realized gain from K-1's P    
c
d
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 21,615,750   19,506,492 2,109,258
b       149,429
c
d
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       2,109,258
b       149,429
c
d
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 2,258,687
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 33,417
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 33,417
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 33,417
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 38,941
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 38,941
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 272
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 5,252
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet5,252 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)
    bulletCA
    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.gellertfoundation.org
    14
    The books are in care ofbulletJohn J Fitzpatrick Telephone no.bullet (650) 985-2082

    Located atbullet455 Hickey Boulevard Suite 509Daly CityCA ZIP+4bullet940152631
    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
     
     
    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
    Robert J Grassilli Chair
    1.00     		6,000 0 0
    455 Hickey Boulevard Suite 509
    Daly City,CA94015
    Andrew A Cresci Vice Chair
    1.00     		6,000 0 0
    455 Hickey Boulevard Suite 509
    Daly City,CA94015
    Michael J King Treasurer
    1.00     		6,000 0 0
    455 Hickey Boulevard Suite 509
    Daly City,CA94015
    John J Fitzpatrick Secretary & Executive Director
    40.00     		187,250 11,004 0
    455 Hickey Boulevard Suite 509
    Daly City,CA94015
    Carol Conroy Director
    1.00     		6,000 0 0
    455 Hickey Boulevard Suite 509
    Daly City,CA94015
    Kevin Flynn Director
    1.00     		0 0 0
    455 Hickey Boulevard Suite 509
    Daly City,CA94015
    J Malcolm Visbal Director
    1.00     		4,500 0 0
    455 Hickey Boulevard Suite 509
    Daly City,CA94015
    Christine Whelan Director
    1.00     		6,000 0 0
    455 Hickey Boulevard Suite 509
    Daly City,CA94015
    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
    Rosa King Program Officer
    40.00     		138,949 15,433 0
    455 Hickey Boulevard Suite 509
    Daly City,CA94015
    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
    Canterbury Consulting Inc Investment Advisory 58,700
    660 Newport Center Drive 300
    Newport Beach,CA92660
    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
    30,418,418
    b
    Average of monthly cash balances.......................
    1b
    691,064
    c
    Fair market value of all other assets (see instructions)................
    1c
    10,817,214
    d
    Total (add lines 1a, b, and c).........................
    1d
    41,926,696
    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
    41,926,696
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    628,900
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    41,297,796
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,064,890
    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
    2,064,890
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    33,417
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
    2,832
    c
    Add lines 2a and 2b............................
    2c
    36,249
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,028,641
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,028,641
    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
    2,028,641
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    2,638,879
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    2,638,879
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    2,638,879
    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 2,028,641
    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...... 231,800
    b From 2016......  
    c From 2017...... 627,601
    d From 2018...... 829,383
    e From 2019...... 766,433
    fTotal of lines 3a through e........ 2,455,217
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 2,638,879
    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..... 2,028,641
    e Remaining amount distributed out of corpus 610,238
    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 3,065,455
    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) ...     		231,800
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		2,833,655
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017.... 627,601
    c Excess from 2018.... 829,383
    d Excess from 2019.... 766,433
    e Excess from 2020.... 610,238
    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 e-mail address of the person to whom applications should be addressed:
    John J Fitzpatrick Exec Dir
    455 Hickey Boulevard Suite 509
    Daly City,CA94015
    (650) 985-2082
    info@gellertfoundation.org
    bThe form in which applications should be submitted and information and materials they should include:
    Refer to the Foundation's grant proposal guidelines on its website for full details and information.
    cAny submission deadlines:
    Refer to the Foundation's grant proposal guidelines on its website for full details and information.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Refer to the Foundation's grant proposal guidelines on its website for full details and information. The Foundation is restricted to giving in the nine counties of the Greater San Francisco Bay Area (Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma). The Foundation does not accept applications from organizations with a fiscal sponsor or from organizations whose tax-exempt status is pending.
    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
    Alisa Ann Ruch California Burn Foundation
    50 N Hill Ave Suite 305
    Pasadena,CA91106     		None PC Burn Camps and Recreation Program Greater San Francisco Bay Area 10,000
    Archbishop Mitty High School
    5000 Mitty Ave
    San Jose,CA95129     		None PC Emergency Tuition Assistance Fund 10,000
    Archbishop Riordan High School
    175 Frida Kahlo Way
    San Francisco,CA94112     		None PC Archbishop Riordan High School Field Campaign 250,000
    Basic Fund
    1301 Clay Street 70450
    Oakland,CA94612     		None PC 2021 Scholars Program 50,000
    Bay Scholars
    465 California St 16th Floor
    San Francisco,CA94014     		None PC Bay Scholars Scholarship Program 10,000
    Bishop O'Dowd High School
    9500 Stearns Ave
    Oakland,CA94605     		None PC The Bishop O'Dowd High School Center 25,000
    Boys Hope Girls Hope of San Francisco
    PO Box 347359
    San Francisco,CA94134     		None PC Hope Academy 10,000
    California Pacific Medical Center Foundation
    2015 Steiner Street
    San Francisco,CA94115     		None PC Emergency Department Child Life Services at CPMC's Mission Bernal Campus 15,000
    Canal Alliance
    91 Larkspur
    San Rafael,CA94901     		None PC University Prep (UP!) 10,000
    Capuchin Franciscan Friars
    Western America Province 1345
    Cortez Ave
    Burlingame,CA94010     		None PC Forming Future Friars 10,000
    Cardinal Newman High School
    50 Urusline Road
    Santa Rosa,CA95403     		None PC Fund a Future - Tuition Assistance Program 15,000
    Charles Armstrong School
    1405 Solana Drive
    Belmont,CA94002     		None PC Tuition Assistance Program 10,000
    City Youth Now
    375 Woodside Ave
    San Francisco,CA94127     		None PC Youth Partnering for Education & Employment 10,000
    Clinic by the Bay
    4877 Mission Street
    San Francisco,CA94112     		None PC Clinic by the Bay Capital Campaign 25,000
    Coastside Child Development Center
    565 Redondo Beach Road
    Half Moon Bay,CA94019     		None PC Support for subsidized early childhood education and early intervention services 7,500
    Community Music Center
    544 Capp Street
    San Francisco,CA94110     		None PC Young Musicians Program 5,000
    Cristo Rey De La Salle East Bay High School
    1530 34th Ave
    Oakland,CA94601     		None PC Tuition Assistance 35,000
    Daly City Public Library Associates
    Post Office Box 3283
    Daly City,CA94015     		None PC Daly City Public Library Associates Laptop Kiosks Project 15,000
    De La Salle Academy
    1380 Galaxy Way
    Concord,CA94520     		None PC Student Scholarship Program 10,000
    De Marillac Academy
    175 Golden Gate Ave
    San Francisco,CA94102     		None PC Urgent Elevator Repairs 30,000
    Dominican Sisters of Mission San Jose
    43326 Mission Circle
    Fremont,CA94539     		None PC COVID-19 Digital Communication Project 10,000
    Eight Twenty-Six Valencia
    826 Valencia Street
    San Francisco,CA94110     		None PC 826 Valencia's Free Personal Statement Services 7,500
    Epiphany Elementary School
    600 Italy Avenue
    San Francisco,CA94112     		None PC Middle School Chromebook Program 10,000
    Family House Inc
    540 Mission Bay Blvd North
    San Francisco,CA94158     		None PC Interior Security Camera Project 9,975
    Foundation for Students Rising Above
    PO Box 29174
    San Francisco,CA94129     		None PC College and Career Development Support for Low-Income, Bay Area Catholic High School Students 10,000
    Good Shepherd Elementary School
    909 Oceana Boulevard
    Pacifica,CA94044     		None PC Tuition Assistance for Students at Good Shepherd Elementary School 10,000
    Good Shepherd Gracenter
    1310 Bacon Street
    San Francisco,CA94134     		None PC Good Shepherd Gracenter (Recovery Program) 10,000
    Guardsmen
    Post Office Box 29250
    San Francisco,CA94129     		None PC Scholarship Program 4,000
    Holy Angels Elementary School
    20 Reiner Street
    Colma,CA94014     		None PC Holy Angels School Scholarship Fund 10,000
    Holy Family Day Home
    299 Dolores Street
    San Francisco,CA94103     		None PC Embrace-A-Child Program 10,000
    Human Investment Project
    800 South Claremont Street 210
    San Mateo,CA94402     		None PC Combating Displacement in San Mateo County with Innovative Affordable Housing Solutions 10,000
    Immaculate Conception Academy
    3625 - 24th Street
    San Francisco,CA94110     		None PC ICA Cristo Rey Distance Learning Project 2020-2021 50,000
    Irish Immigration Pastoral Center
    5340 Geary Boulevard Suite 206
    San Francisco,CA94121     		None PC Wellness Program 45,000
    Jesuit Retreat Center of Los Altos
    300 Manresa Way
    Los Altos,CA94022     		None PC Gellert Rotunda Carpet Replacement and General Operations 10,000
    John Papan Memorial
    440 Green Hills Drive
    Milbrae,CA94030     		None PC John's Closet 7,500
    Junipero Serra High School
    451 West 20th Avenue
    San Mateo,CA94403     		None PC Pandemic Creates Greater Tuition Assistance Needs 50,000
    Kainos Home and Training Center for the Developmentally Disabled
    3631 Jefferson Ave
    Redwood City,CA94062     		None PC Kainos' Health and Wellness Program 10,000
    La Casa de las Madres
    1663 Mission Street Suite 225
    San Francisco,CA94103     		None PC Emergency Shelter Services 15,000
    Las Casas - English as a Second Language
    1555 34th Avenue
    Oakland,CA94601     		None PC Las Casas - English as a Second Language 20,070
    Little Sisters of the Poor
    300 Lake St
    San Francisco,CA94118     		None PC Washing Machine Replacement Project 35,000
    Marianist Province of the United States
    4425 W Pine Blvd
    St Louis,MO63108     		None PC Marianist Care Center in Cupertino, California 10,000
    Mercy High School Burlingame
    2750 Adeline Drive
    Burlingame,CA94010     		None PC Making a Difference for 39 Mercy SF Transfer Students 58,500
    Mercy High School Burlingame
    2750 Adeline Drive
    Burlingame,CA94010     		None PC Making A Difference - Tuition Assistance 50,000
    Mercy Housing California
    1256 Market Street
    San Francisco,CA94102     		None PC Sunnydale - Visitacion Valley Resident Services and Neighborhood Revitalization 12,000
    Mercy Retirement and Care Center
    3431 Foothill Blvd
    Oakland,CA94601     		None PC Mercy Revitalization Project 250,000
    Mills-Peninsula Hospital Foundation
    1501 Trousdale Drive
    Burlingame,CA94010     		None PC Contrast-Enhanced Mammography Project 10,000
    Mission Dolores Academy
    3371 16th Street
    San Francisco,CA94114     		None PC 2020-2021 Tuition Assistance Program (TAP) 15,000
    Mission Hospice and Home Care
    66 Bovet Road Suite 100
    San Mateo,CA94402     		None PC Charitable care for patients at our Mission Hospice House 10,000
    Moreau Catholic High School
    27170 Mission Blvd
    Hayward,CA94579     		None PC Moreau High School Tuition Assistance Program 2020-21 10,000
    Mount St Joseph - Saint Elizabeth
    Dba Epiphany Center 100 Masonic Ave
    San Francisco,CA94118     		None PC Parent-Child Center 10,000
    North Peninsula Food Pantry & Dining Center of Daly City
    Post Office Box 280
    Daly City,CA94016     		None PC North Peninsula Food Pantry 10,000
    Notre Dame des Victoires Parish
    Aka Ecole Notre Dame des Victoires
    659 Pine St
    San Francisco,CA94108     		None PC Technology Project for virtual campus needs. 10,000
    Notre Dame High School Belmont
    1540 Ralston Avenue
    Belmont,CA94002     		None PC Notre Dame High School Belmont Tuition Assistance Program 10,000
    Operation Santa Claus
    Daly City Fire Department 10
    Wembley Drive
    Daly City,CA94015     		None PC Christmas Toys and Gifts for Children of Families in Need. 3,000
    Order of Malta Clinic of Northern California
    2121 Harrison Street Suite 110
    Oakland,MO94612     		None PC Malta Clinic Telemedicine Initiative 45,000
    Our Lady of Mercy Elementary School
    7 Elmwood Drive
    Daly City,CA94015     		None PC Our Lady of Mercy Elementary School Tuition Assistance 2020-21 10,000
    Our Lady of Mount Carmel Elementary School
    301 Grand Street
    Redwood City,CA94062     		None PC Tuition Assistance Program 10,000
    Our Lady of Perpetual Help Elementary School
    80 Wellington Avenue
    Daly City,CA94014     		None PC Tuition Assistance for Our Lady of Perpetual Help School in Daly City 10,000
    Partners and Advocates for Remarkable Children and Adults
    800 Alrport Blvd Suite 320
    Burlingame,CA94010     		None PC PARCA Family Support Services (FSS) Program 15,000
    Pomeroy Recreation & Rehabilitation Center
    207 Skyline Boulevard
    San Francisco,CA94132     		None PC Afterschool Program for Children & Teens with Disabilities 15,000
    Rebuilding Together Peninsula
    841 Kaynyne Street
    Redwood City,CA94063     		None PC Safe at Home 10,000
    Ritter Center
    16 Ritter Street
    San Rafael,CA94901     		None PC Integrated Client Services 10,000
    Rosalie Rendu Inc
    2345 Pulgas Avenue
    East Palo Alto,CA94303     		None PC Rosalie Rendu Center: From Home to Learning Hub Transformation Project 7,668
    RotaCare Bay Area
    514 Valley Way
    Milpitas,CA95035     		None PC RotaCare Clinics in San Mateo County 6,000
    Saint Anthony Foundation
    150 Golden Gate Avenue
    San Francisco,CA94102     		None PC Essential Stabilizing Services 30,000
    Saint Anthony Immaculate Conception Elementary School
    299 Precita Avenue
    San Francisco,CA94110     		None PC St. Anthony-Immaculate Conception School: Tuition Assistance 2020-2021 20,000
    Saint Anthony School
    1500 East 15th Street
    Oakland,CA94606     		None PC Distance Learning at St. Anthony School 10,000
    Saint Charles Elementary School
    850 Tamarack Avenue
    San Carlos,CA94070     		None PC Commitment to Excellence in the time of COVID 20,000
    Saint Elizabeth Elementary School Oakland
    1516 - 33rd Avenue
    Oakland,CA94601     		None PC Mother Pia Special Needs Program 25,000
    Saint Finn Barr Elementary School
    419 Hearst Avenue
    San Francisco,CA94112     		None PC Technology/Chromebook Upgrade for Lower School 16,000
    Saint Francis High School
    1885 Miramonte Avenue
    Mountain View,CA94040     		None PC Holy Cross Achievers Program 50,000
    Saint Gabriel Elementary School
    2550 41st Ave
    San Francisco,CA94116     		None PC St. Gabriel Tuition Assistance Program 10,000
    Saint Ignatius College Preparatory
    2001 37th Ave
    San Francisco,CA94116     		None PC Technology Updates For Distance Learning During Covid19 at St. Ignatius College Preparatory 50,000
    Saint James Elementary School
    321 Fair Oaks Street
    San Francisco,CA94110     		None PC Tuition Assistance at St. James School 15,000
    Saint John the Evangelist Elementary School
    925 Chenery Street
    San Francisco,CA94131     		None PC Bathroom Renovation 42,500
    Saint Joseph Notre Dame High School
    1011 Chestnut Street
    Alameda,CA94501     		None PC Tuition Assistance Program 2020-21 30,000
    Saint Mary's Center
    925 Brockhurst Street
    Oakland,CA94608     		None PC Senior Homeless Services 15,000
    Saint Mary's College High School of Berkeley Inc
    1294 Albina Avenue
    Berkeley,CA94706     		None PC Need Based Tuition Assistance 15,000
    Saint Mary's College of California
    1928 St Marys Rd PMB 4300
    Moraga,CA94575     		None PC Carl Gellert and Celia Berta Gellert Memorial Endowment Scholarship Fund 50,000
    Saint Mary's Medical Center Foundation
    450 Stanyan Street
    San Francisco,CA94117     		None PC Emergency Department Renovation and Reconfiguration 20,000
    Saint Peter Martyr School
    425 West Fourth Street
    Pittsburg,CA94565     		None PC Distance Learning at St. Peter Martyr 10,000
    Saint Peter's Elementary School
    1266 Florida Street
    San Francisco,CA94110     		None PC Renewed Support for Tuition Assistance & A Special Gift For COVID19 Financial Aid at St. Peter's 20,000
    Saint Raphael Elementary School
    1100 Fifth Avenue
    San Rafael,CA94901     		None PC Tuition Assistance Program 10,000
    Saint Thomas More Elementary School
    50 Thomas More Way
    San Francisco,CA94132     		None PC St. Thomas More School Boys and Girls Bathroom Renovation 85,000
    Saint Vincent de Paul Society of San Francisco
    1175 Howard Street
    San Francisco,CA94103     		None PC The Riley Center: Services for Survivors of Domestic Violence 10,000
    Salesian Boys and Girls Club
    680 Filbert Street
    San Francisco,CA94133     		None PC Programming Development: Covid-19 Pivot 10,000
    San Francisco Food Bank
    900 Pennsylvania Avenue
    San Francisco,CA94107     		None PC Whole Child Program 15,000
    San Mateo County Sheriff's Activities League
    3151 Edison Way
    San Mateo,CA94063     		None PC Teen Leadership Council and Empowering Young Women 10,000
    San Mateo Police Activities League
    200 Franklin Parkway
    San Mateo,CA94403     		None PC San Mateo PAL Youth Prevention and Intervention Programs 40,000
    Santa Clara University
    500 El Camino Real
    Santa Clara,CA95053     		None PC Summer Engineering Seminar (SES) 20,000
    Service League of San Mateo County
    727 Middlefield Road
    Redwood City,CA94063     		None PC Hope House for Women & Infants 10,000
    Sonoma Overnight Support Inc
    151 First Street West
    Sonoma,CA95476     		None PC Day Services Program 80,000
    StarVista
    610 Elm Street Suite 212
    San Carlos,CA94070     		None PC Crisis Intervention and Suicide Prevention Center (CISPC) 10,000
    USA West Province Society of Jesus
    300 College Ave
    Los Gatos,CA95031     		None PC COVID-19 Response - Continuation of Exceptional Care to Senior and Infirmed Jesuits at SHJC 10,000
    Villa Siena Foundation
    1855 Miramonte Avenue
    Mountain View,CA94040     		None PC Delivering the Promise Campaign 10,000
    Youth SF
    4722 Mission St
    San Francisco,CA94112     		None PC The Mike Homer Innovation Program 15,000
    Total .................................bullet 3a 2,297,213
    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 1,737  
    4 Dividends and interest from securities....     14 611,547  
    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 2,258,687  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aOther - reimbursement     		900099       5
    bOther partnership pass through inc./loss 900099 19,278 18 -90,329  
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 19,278 2,781,642 5
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,800,925
    (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.)
    11a Miscellaneous reimbursements and rebates are used to further the Foundation's charitable activities by offsetting operational costs.
    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:
    The Carl Gellert and Celia Berta Gellert
     
    Foundation
    EIN:
    94-6062858
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Audit and tax preparation 27,495 10,998   16,497

    TY 2020 GeneralExplanationAttachment
    Name:
    The Carl Gellert and Celia Berta Gellert
     
    Foundation
    EIN:
    94-6062858
    Identifier Return Reference Explanation
    Additional Explanation Form 990-PF, Part VII-B, Line 1a Question 1a(3) with regard to furnishing goods and services or facilities to a disqualified person and Question 1a(4) with regard to paying compensation to a disqualified person are both answered "yes". Question 1(b) states that the above items incurred by this taxpayer do not fail to qualify under the exceptions described in IRS Regulation section 53.4941(d)-3 with regard to self-dealing. The purpose of this Statement is to provide an explanation as to the subject items.Question 1a(3)The Executive Director of the Foundation is a disqualified person. In order to perform his duties as the Executive Director, he is provided an office in the Foundation's leased facility. The sole use of this office is for the Foundation's exempt purpose. As such, this qualifies for the exception with regard to self-dealing. It should also be noted that the Foundation leases its facilities from an unrelated third party.Question 1a(4)There are eight disqualified persons connected with this Foundation. All of these disqualified persons make up the Board of Directors of the Foundation and one of them serves as the Executive Director of the Foundation. They all receive reasonable compensation for their services to assist the Foundation to carry out its exempt purpose. The Executive Director's position is full time and requires 40 hours a week on the job. The compensation for this position is determined and approved by the Board of Directors (excluding the Executive Director) and is based on the performance of the individual as well as the review of the annual compensation survey published by Exponent Philanthropy, the largest organization providing resources for management of private foundations such as ours with little or no staff. With the due diligence required to determine the Executive Director's compensation, the Board of Directors believe the approved compensation is reasonable and necessary to carry out the Foundation's exempt purpose.Members of the Board of Directors each receive a small stipend for their efforts in that position. The Foundation only has one staff employee besides the Executive Director. As such, the Foundation requires the Board of Directors to be heavily involved in the grant approval process. This requires the reading of approximately 275 grants annually, making recommendations on those applications and site visits to some of the grant requestors, approximately 30 per annum. In addition to being actively involved in the grant making process, the Board also performs other duties such as managing and approving investment decisions. In determining the stipend paid, the Board reviews the annual survey on Board Compensation published by Exponent Philanthropy. With the duties, responsibilities and effort involved, it is the opinion of the Foundation that the Board of Directors' stipend is reasonable and necessary to carry out the Foundation's exempt purpose.

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    The Carl Gellert and Celia Berta Gellert
     
    Foundation
    EIN:
    94-6062858
    Name of Stock End of Year Book Value End of Year Fair Market Value
    Adobe Inc 65,677 115,528
    Alphabet Inc 94,471 131,448
    Amazone Com Inc 66,277 113,993
    Automatic Data Processing 33,406 37,531
    Boston Scientific Corp 23,416 22,612
    Burlington Stores Inc 28,817 38,448
    Eparn Systems Inc 27,578 51,244
    Facebook Inc 91,158 116,912
    Fortinet Inc 18,037 22,428
    Global Payments Inc 29,534 35,113
    Godaddy Inc 26,326 29,447
    Intuit Inc 41,393 60,016
    Mastercard Inc 18,320 19,632
    Microsoft Corp 87,444 154,582
    Monster Beverage Corp 25,070 31,166
    Neurocrine Biosciences Inc 20,515 21,470
    Paypal Holdings Inc 52,774 114,290
    Siuius Xrn 47,058 47,405
    Unitedhealth Group Inc 27,694 33,315
    Visa Inc 58,350 78,087
    Zoetis Inc 22,866 32,934
    Aon Plc 28,944 31,902
    Alibaba Group Holding Ltd 85,664 107,289
    Tencent Hldgs Ltd 64,040 105,966
    Activision Blizzard Inc 52,799 62,674
    Alphabet Inc 55,504 73,579
    American Express Co 55,310 69,523
    Blackrock Inc 36,951 54,116
    Booking Holdings Inc 22,026 28,955
    Campbell Soup Co 99,213 100,326
    Coca Cola Company 58,419 71,292
    Walt Disney 5,242 9,059
    Dominos Pizza Inc 55,310 55,602
    E Bay Inc 123,141 125,625
    Home Depot Inc 39,663 45,155
    Johnson Johnson 79,947 86,559
    McDonalds Corp 44,469 50,426
    Microsoft Corp 53,904 66,726
    Pepsico Inc 70,147 77,857
    Procter & Gamble Co 60,339 66,092
    Qualcomm Inc 63,771 79,979
    Sherwin Williams Co 20,754 29,396
    Target Corp 63,265 88,265
    United Parcel Service 77,232 79,990
    Walmart Inc 46,600 54,056
    Williams Sonoma Inc 53,587 86,564
    Diageo Plc Sponsored ADR 55,000 55,584
    Lymh Moet Hennessy ADR 18,709 31,183
    Nestle Sa Sponsored ADR 61,797 67,735
    Aflac Inc 10,309 12,318
    Abbvie Inc 12,150 12,965
    Allison Transmission Holdings 5,414 5,866
    Alphabet Inc 23,849 29,795
    American Interational Group 15,349 21,732
    Amerisourcebergen Corp 14,162 17,010
    Amgen Inc 8,191 8,277
    Anthem Inc 26,519 33,072
    Applied Materials Inc 15,015 25,458
    Autozone Inc 27,286 32,007
    Avantor Inc 9,255 14,300
    Bank of America Corp 30,809 45,132
    Berkshire Hathaway Inc 45,191 58,431
    Best Buy Co 8,742 15,667
    Boeing Co 18,350 19,479
    Cigna Corp 33,550 40,595
    Cvs Health Corp 11,673 12,021
    Caterpillar Inc 16,695 23,299
    Centerpoint Energy Inc 11,257 12,292
    Cisco Systems Inc 40,636 39,872
    Citigroup Inc 20,479 26,267
    Conocophillips 27,644 29,113
    Cummins Inc 6,613 11,582
    Deere Co 17,518 30,134
    Dover Corp 8,418 11,741
    Dupoint De Nemours Inc 14,315 28,231
    Edison International 14,312 17,213
    FMS Corp 8,866 10,344
    Fifth Third Bancorp 7,319 10,559
    General Dynamics Corp 8,683 8,483
    Goldman Sachs Group Inc 15,214 16,350
    Harley Davidson Inc 11,671 14,863
    Howmet Aerospace Inc 10,957 15,697
    Huntington Bancshares Inc 11,094 15,724
    Huntington Ingalls Industries 6,157 5,796
    J P Morgan Chase Co 39,980 54,513
    Johnson Johnson 48,753 56,972
    Kia Corp 8,236 16,052
    Kroger Co 17,878 16,229
    Lkq Corp 10,994 11,735
    Lam Research Corp 17,186 31,642
    Las Vegas Sands Corp 11,987 13,410
    Lear Corp 4,195 6,679
    Lennar Corp 9,004 12,654
    Lowes co Inc 7,062 10,273
    Marathon Petroleum Corp 13,250 19,522
    Marsh McLennan Cos Inc 5,911 7,137
    McKesson Corp 14,882 20,175
    Micron Technology Inc 13,875 24,584
    Mohawk Inds Inc 11,903 17,055
    Newmont Corp 7,390 9,283
    Northrop Grumman Corp 7,582 7,923
    On Semiconductor Corp 1,233 3,338
    Oracle Corp 11,867 18,889
    Otis Worldwide Corp 6,446 8,309
    Owens Corning Inc 9,895 18,410
    P P G Inds Inc 5,317 8,076
    Parsley Energy Icn 10,305 12,737
    Pfizer Inc 18,835 24,037
    Progressive Corp 18,286 25,214
    Qorvo Inc 6,364 12,637
    Robert Half Intl Inc 5,581 5,498
    Ss C Technologies Holdings 11,121 14,768
    Schwab Charles Corp 11,958 18,034
    Stell Dynamics Inc 9,839 11,024
    Tjx Companies Inc 8,409 12,565
    T Mobile US Inc 19,462 24,543
    Tapestry Inc 8,591 16,659
    Truist Financial Corp 22,120 30,723
    Union Pacific Corp 7,896 12,285
    United Rentals Inc 7,131 13,451
    Unitedhealth Group Inc 16,799 23,145
    Viatris Inc 5,535 6,896
    Vistra Energy Corp 12,194 13,998
    Westrock Co 6,463 7,531
    Williams Sonoma Inc 3,421 6,823
    Wyndam Hotels Resorts Inc 6,152 8,559
    Coca Cola Eurorean Partners 14,885 17,241
    Eaton Corp Plc 16,505 23,908
    Everest Re Group Ltd 14,411 16,620
    Medtronic Plc 18,099 24,834
    Renaissance Holdings Ltd 7,273 6,467
    Chubb Ltd 26,357 33,862
    Aercap Holdings 3,927 4,148
    Nxp Semiconductors\ 12,669 21,943
    Crh Spon 6,205 10,049
    Canadian Natrual Resources Ltd 6,735 9,019
    Glaxo Smighkline PLC ADR 11,012 11,003
    Kinross Gold Corp 5,663 5,468
    Novartis Ag ADR 26,258 28,140
    Petroleo Brasileiro S A ADR 7,773 9,939
    Schlumberger Ltd 7,779 8,950
    Yamana Gold Inc 7,438 10,027

    TY 2020 InvestmentsOtherSchedule2
    Name:
    The Carl Gellert and Celia Berta Gellert
     
    Foundation
    EIN:
    94-6062858
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    AEA Investors Fund VII L.P. AT COST 125,488 125,099
    Blackstone Partners Offshore Fund Ltd. AT COST 1,915,000 2,245,107
    CCI Core Bond Fund L.P. AT COST 2,605,894 2,664,281
    Centerbridge Partners Real Estate Fund L.P. AT COST 291,391 288,874
    Colchester Global Bond Fund AT COST 1,538,928 1,657,129
    Crescent Capital High Income Fund L.P. AT COST 1,293,466 1,350,154
    EnTrustPermal Core Solutions Ltd. AT COST 1,962,326 2,108,773
    Industry Ventures Partnership Holdings V, L.P. AT COST 193,182 336,959
    Littlejohn Opportunities Fund II, L.P. AT COST 286,424 290,950
    Montauk Triguard Fund VI L.P. AT COST 307,981 368,488
    Northlane Capital Partners II L.P. AT COST 84,236 91,415
    PAMF Special Investments Ltd. AT COST 57,565 14,502
    Brown Advisory Small Cap Fund Mutual Fund AT COST 1,053,860 1,111,482
    Cohen & Steers Instl Realty Shares Mutual Fund AT COST 204,987 201,252
    Diamond Hill Large Cap Mutual Fund AT COST 1,238,760 1,556,299
    Dodge & Cox Internat'l Stock Fund - Mutual Fund AT COST 3,478,591 4,077,569
    American Funds Europacific Growth Mutual Fund AT COST 2,610,447 4,113,435
    HSBC Opportunity Fund I Mutual Fund AT COST 1,063,190 1,375,738
    Royce Internat'l Premier Mutual Fund AT COST 885,061 1,173,776
    Vanguard 500 Index Admiral Mutual Fund AT COST 5,827,264 6,544,574
    Doubleline Total Ret. Bond Mutual Fund AT COST 1,458,678 1,435,042
    Pimco Total Return Mutual Fund AT COST 4,026 3,896
    Western Asset Core Plus Bond Fund AT COST 2,568,378 2,772,392
    Principal Diver. Real Inst. Mutual Fund AT COST 1,561,105 1,678,073

    TY 2020 LandEtcSchedule2
    Name:
    The Carl Gellert and Celia Berta Gellert
     
    Foundation
    EIN:
    94-6062858
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Office equipment 27,073 26,294 779 779
    Office furniture 29,075 27,817 1,258 1,258
    Leasehold improvements 13,800 7,719 6,081 6,081


    TY 2020 OtherAssetsSchedule
    Name:
    The Carl Gellert and Celia Berta Gellert
     
    Foundation
    EIN:
    94-6062858
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    Deposit 4,373 4,373 4,373


    TY 2020 OtherExpensesSchedule
    Name:
    The Carl Gellert and Celia Berta Gellert
     
    Foundation
    EIN:
    94-6062858
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Insurance 2,353 941   1,412
    Office expenses 14,952 6,159   8,623
    Other 3,389 536   2,843


    TY 2020 OtherIncomeSchedule2
    Name:
    The Carl Gellert and Celia Berta Gellert
     
    Foundation
    EIN:
    94-6062858
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Other - reimbursement 5   5
    Other partnership pass through inc./loss -71,051 -90,329 -71,051


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    The Carl Gellert and Celia Berta Gellert
     
    Foundation
    EIN:
    94-6062858
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment fees 175,998 175,998   0
    Consulting - strategic planning 39,300 0   39,300
    Computer consulting 3,095 1,238   1,857


    TY 2020 TaxesSchedule
    Name:
    The Carl Gellert and Celia Berta Gellert
     
    Foundation
    EIN:
    94-6062858
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Payroll tax 15,447 6,178   9,269
    Federal excise tax 27,500 0   0
    Foreign tax (K-1 pass through) 909 909   0