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 Cedar Spray Foundation
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

82-5332387
B Telephone number (see instructions)

(800) 839-1754
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$6,402,898J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 16 16  
4 Dividends and interest from securities... 53,564 53,564  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 647,929
b Gross sales price for all assets on line 6a 2,504,098
7 Capital gain net income (from Part IV, line 2)... 647,774
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 105,630 105,784  
12 Total. Add lines 1 through 11........ 807,139 807,138  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 1,865 0 0 1,865
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 24,365 24,365    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 3,041 180    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 62,598 38,970   23,628
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 91,869 63,515 0 25,493
25 Contributions, gifts, grants paid....... 240,000 240,000
26 Total expenses and disbursements. Add lines 24 and 25 331,869 63,515 0 265,493
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 475,270
b Net investment income (if negative, enter -0-) 743,623
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......... 1 118,303 118,303
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).......   Click to see attachment4,835,362 5,944,840
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)..........   Click to see attachment285,395 339,755
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) 1 5,239,060 6,402,898
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons 6,500 6,500
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 6,500 6,500
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds -6,499 5,232,560
29 Total net assets or fund balances (see instructions)..... -6,499 5,232,560
30 Total liabilities and net assets/fund balances (see instructions). 1 5,239,060
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
-6,499
2
Enter amount from Part I, line 27a .....................
2
475,270
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
4,763,789
4
Add lines 1, 2, and 3 ..........................
4
5,232,560
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
5,232,560
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 Passthrough K1 Capital Gain/(Loss)      
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 2,504,098   1,869,932 634,166
b       13,608
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        
b        
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 2 647,774
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 10,336
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  
3 Add lines 1 and 2........................... 3 10,336
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 10,336
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 4,184
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 13,231
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 17,415
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8  
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 7,079
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet7,079 RefundedBullet 11  
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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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
    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)
    bulletDE
    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 addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    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
    Brian A Schwalbach Dir, Sec
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Mari Angela M Schwalbach Dir, Pres
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Nathan P Schwalbach Dir, Treas
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Winsome Y Schwalbach Dir, VP
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    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
     
    Total number of other employees paid over $50,000...................bullet  
    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
     
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2020)
    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
    5,227,243
    b
    Average of monthly cash balances.......................
    1b
    204,857
    c
    Fair market value of all other assets (see instructions)................
    1c
    339,754
    d
    Total (add lines 1a, b, and c).........................
    1d
    5,771,854
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    5,771,854
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    86,578
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,685,276
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    284,264
    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
    284,264
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    10,336
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    10,336
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    273,928
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    273,928
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    273,928
    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
    265,493
    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
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    265,493
    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
    265,493
    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 7 273,928
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 255,404
    b Total for prior years:2018, 2017, 2016  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018...... 6,500
    e From 2019......  
    fTotal of lines 3a through e........ 6,500
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 265,493
    a Applied to 2019, but not more than line 2a 255,404
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2020 distributable amount..... 10,089
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 6,500 6,500
    (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  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    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......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		257,339
    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) .......     		 
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    NONE
    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
    CATHOLIC CHARITIES OF SPOKANE
    PO BOX 2253
    SPOKANE,WA99210     		N/A PC General & Unrestricted 5,000
    CATHOLIC RELIEF SERVICES INC
    228 W LEXINGTON ST
    BALTIMORE,MD21201     		N/A PC General & Unrestricted 10,000
    COPPER CANNON CORPORATION
    PO BOX 124
    FRANCONIA,NH03580     		N/A PC General & Unrestricted 5,000
    CORPORATION OF GONZAGA UNIVERSITY
    502 E BOONE AVE
    SPOKANE,WA99258     		N/A PC Center for Community Engagement 30,000
    CROSS CATHOLIC OUTREACH INC
    PO BOX 97168
    WASHINGTON,DC20090     		N/A PC General & Unrestricted 5,000
    LITTLE BIT THERAPEUTIC RIDING CENTER
    18675 NE 106TH ST
    REDMOND,WA98052     		N/A PC General & Unrestricted 5,000
    OPAL CREEK ANCIENT FOREST CENTER
    721 NW 9TH AVE STE 236
    PORTLAND,OR97209     		N/A PC General & Unrestricted 15,000
    OREGON EPISCOPAL SCHOOL
    6300 SW NICOL RD
    PORTLAND,OR97223     		N/A PC OES Annual Fund - Financial Aid 25,000
    OREGON FOOD BANK INC
    7900 NE 33RD DR
    PORTLAND,OR97211     		N/A PC General & Unrestricted 20,000
    PREGNANCY RESOURCE SERVICES OF KITSAP COUNTY
    PO BOX 2917
    SILVERDALE,WA98383     		N/A PC General & Unrestricted 5,000
    ST ANDREW NATIVITY SCHOOL
    4925 NE 9TH AVE
    PORTLAND,OR97211     		N/A PC General & Unrestricted 20,000
    ST CECILIA CHURCH
    1310 MADISON AVE N
    BAINBRIDGE IS,WA98110     		N/A PC The Haiti Fund 5,000
    ST PAULS OUTREACH INC
    PO BOX 2425
    INVER GROVE,MN55076     		N/A PC General & Unrestricted 5,000
    SUSAN B ANTHONY LIST INC EDUCATION FUND
    2800 S SHIRLINGTON RD STE 1200
    ARLINGTON,VA22206     		N/A PC General & Unrestricted 5,000
    YOUNG AMERICA'S FOUNDATION
    11480 COMMERCE PARK DR STE 600
    RESTON,VA20191     		N/A PC General & Unrestricted 15,000
    Friends of the Children-Portland
    44 NE Morris St
    Portland,OR97212     		N/A PC General & Unrestricted (From Predecessor Foundation - See General Explanation) 5,000
    Lead-Up International
    5009 Normandale CT
    Edina,MN55436     		N/A PC Lead-Up Champions Vocational Program (From Predecessor Foundation - See General Explanation) 20,000
    Lead-Up International
    5009 Normandale Ct
    Edina,MN55436     		N/A PC Mobile Champions Cafe (From Predecessor Foundation - See General Explanation) 15,000
    Project Lemonade Inc
    PO Box 96144
    Portland,OR97296     		N/A PC General & Unrestricted (From Predecessor Foundation - See General Explanation) 5,000
    St Cecilia Church
    1310 Madison Ave N
    Bainbridge IS,WA98110     		N/A PC General & Unrestricted (From Predecessor Foundation - See General Explanation) 20,000
    Total .................................bullet 3a 240,000
    bApproved for future payment
    Total .................................bullet 3b  
    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 16  
    4 Dividends and interest from securities....     14 53,564  
    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 ............     		    18 647,929  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aK-1 Inc/Loss     		    14 762  
    bCLASS ACTION LAWSUIT PROCEEDS     01 27  
    cFROM PREDECESSOR FDN     01 104,996  
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   807,294  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    807,294
    (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


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    TY 2020 DepreciationSchedule
    Name:
    The Cedar Spray Foundation
    EIN:
    82-5332387
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2020 GeneralExplanationAttachment
    Name:
    The Cedar Spray Foundation
    EIN:
    82-5332387
    Identifier Return Reference Explanation
    Explanation of Transfer PART I LINE 6A (990-PF) RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF ASSETS NOT INCLUDED IN PART IV TOTAL INCLUDED IN PART IV: (DETAILS BELOW) NET GAIN/(LOSS): $647,774 TOTAL NOT INCLUDED IN PART IV: PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - UBI NET GAIN/(LOSS): $155 TOTAL PART I, LINE 6A: $647,929 DETAILS OF ASSETS INCLUDED IN PART IV: PUBLICLY-TRAIDED SECURITIES GROSS SALES PRICE: $2,504,098 COST BASIS: $1,869,932 NET GAIN/(LOSS): $634,166 PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - NON UBI NET GAIN/(LOSS): $13,608
    Explanation of Transfer Explanation of Transfer from Predecessor During 2020, The Gerald and Susan Schwalbach Family Foundation ("Old Foundation") (EIN 20-4822291) merged into The Cedar Spray Foundation ("New Foundation") (EIN: 82-5332387), which was controlled by the same persons that effectively controlled the Old Foundation at the time of such transfer. Such a transfer is described in Section 507(b)(2) of the Internal Revenue Code of 1986, as amended (the "Code"), which provides that "in the case of a transfer of assets of any private foundation to another private foundation pursuant to any liquidation, merger, redemption, recapitalization, or other adjustment, organization, or reorganization, the transferee foundation shall not be treated as a newly created organization." Additionally, Treasury Regulations Section 1.507-3(a)(9)(i) states: If a private foundation transfers all of its net assets to one or more private foundations which are effectively controlled (within the meaning of 1.482-1(a)(3)), directly or indirectly, by the same person or persons which effectively controlled the transferor private foundation, for purposes of chapter 42 (section 4940 et seq.) and part II of subchapter F of chapter 1 of the Code (sections 507 through 509) such a transferee private foundation shall be treated as if it were the transferor. In accordance with the above referenced Regulation and Code sections, the Old Foundation has completed its 2020 return to allocate all of its activity to the New Foundation as if it were the Old Foundation for purposes of Chapter 42 for the entire taxable year. Similarly, the New Foundation has completed its 2020 return to report all of the activity allocated to it by the Old Foundation in addition to the activity the New Foundation conducted directly. See the following summary by return part: Part I: The New Foundation has picked up the Old Foundation's income and expenses for purposes of Code Sections 4940 and 4942. (See details below.) Part VI: The New Foundation has picked up the Code Section 4940 tax overpayment from the Old Foundation's 2020 Form 990-PF. 2220: The New Foundation has reported the annualized amounts attributable to the Old Foundation's 2020 tax year in addition to its own amounts. Part X: The New Foundation has calculated the average value of assets to include its own as well as all of the Old Foundation's assets for the entire 2020 calendar year. Part XI: The New Foundation has calculated the distributable amount to include its own as well as all of the Old Foundation's income tax for the entire 2020 calendar year. Part XII: The New Foundation has included the 2020 qualifying distributions made by the Old Foundation as if they were made by the New Foundation. Part XIII: The New Foundation has reported the Old Foundation's undistributed income for the 2019 tax year of $255,404 as if it were its own. Part XV: The New Foundation has reported the Old Foundation's 2020 grants of $65,000 as if they were made by the New Foundation. DETAILS FOR OLD FOUNDATION'S 2020 EXPENSES REPORTED ON PART I, LINE 23: TOTAL: Column (a): $46,814 Column (b): $30,467 Column (d): $16,320 Description: Legal fees Column (a): $1,262 Column (b): $0 Column (d): $1,262 Description: Investment management services Column (a): $23,054 Column (b): $23,054 Column (d): $0 Description: Foreign tax paid Column (a): $361 Column (b): $361 Column (d): $0 Description: Travel, conferences and meetings Column (a): $450 Column (b): $0 Column (d): $450 Description: Administrative fees Column (a): $14,598 Column (b): $0 Column (d): $14,598 Description: Bank charges Column (a): $68 Column (b): $68 Column (d): $0 Description: K-1 Exp Light Street Argon, LP Column (a): $6,813 Column (b): $6,813 Column (d): $0 Description: K-1 Exp AlphaKeys Distressed Opportunities Fund II, LLC Column (a): $198 Column (b): $171 Column (d): $0 Description: State or local filing fees Column (a): $10 Column (b): $0 Column (d): $10

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    The Cedar Spray Foundation
    EIN:
    82-5332387
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ADVANCE AUTO PARTS INC 1,569 1,733
    ADVANCED MEDICAL OPTICS 590 1,042
    AES CORP 866 1,011
    AIR PRODS & CHEM INC 2,895 4,645
    AKAMAI TECH COM STK 1,077 1,155
    ALCON INC 3,745 4,157
    ALEXANDRIA REAL ESTATE EQUITIE 1,245 1,782
    ALIBABA GROUP HOLDING LTD 30,536 79,128
    ALLEGHANY CP 1,551 1,207
    ALLY FINANCIAL INC 797 1,319
    ALPHABET INC CL A 6,346 14,021
    ALPHABET INC CL C 409 1,752
    AMAZON COM 9,710 22,799
    AMER FIN GRP HLD 1,735 1,577
    AMEREN CORPORATION 2,089 2,186
    AMERICAN FUNDS INTERNATIONAL V 17,909 25,831
    AMERICAN WATER WORKS COMPANY I 1,416 2,149
    AMETEK INC 2,580 3,628
    APPLE INC 20,860 176,742
    APTIV PLC 4,541 7,166
    AQR MANAGED FUTURES FUND CL I 35,448 27,959
    ARK INNOVATION ETF 50,833 70,337
    ASHLAND GLOBAL HOLDINGS 1,579 1,584
    ATLASSIAN CORP PLC 4,077 5,379
    ATMOS ENERGY CORP 1,608 1,527
    AUTODESK, INC 2,913 5,496
    AVALONBAY CMNTYS INC 1,864 1,604
    BALL CP 1,558 2,423
    BANK NEW YORK MELLON CORP COM 1,196 1,401
    BLACKROCK SCIENCE AND TECHNOLO 50,267 83,674
    BROADCOM INC 65,235 76,624
    BROWN & BROWN INC 1,111 1,138
    BRUNSWICK CORP 1,554 1,906
    BURLINGTON STORES, INC 1,001 1,308
    CAMDEN PPTY TR 1,066 1,199
    CAPRI HOLDINGS LTD.SHS 1,225 1,176
    CATALENT INC 1,432 2,602
    CENTENE CORP 930 840
    CHANGE HEALTHCARE INC 1,272 1,567
    CHARLES SCHWAB INTRNTNL EQ 4,974 5,690
    CHENIERE ENERGY INC 1,804 1,921
    CHIPOTLE MEX GRILL 4,868 5,547
    CMS ENERGY CP 1,595 1,891
    COCA COLA EUROPEAN PARTNERS PL 1,845 2,242
    CONSTELLATION BRANDS INC 1,743 2,191
    COOPER COMPANIES INC 1,354 1,817
    CORTEVA INC 2,334 3,136
    CREE, INC 992 1,271
    CUMMINS INC 2,435 2,498
    DEXCOM, INC 3,085 5,176
    DFA COMMODITY STRATEGY PORTFOL 52,172 35,961
    DFA EMERGING MARKETS CORE EQ P 49,509 63,322
    DFA GLOBAL REAL ESTATE SECURIT 69,944 76,249
    DFA INTERNATIONAL CORE EQUITY 115,626 136,999
    DFA INVESTMENT GRADE PORTFOLIO 117,430 129,384
    DFA REAL ESTATE SECURITIES POR 30,305 39,590
    DFA U.S. LARGE CAP VALUE PORTF 61,115 77,490
    DFA U.S. SMALL CAP PORTFOLIO 88,191 111,601
    DIAGEO PLC ADS 23,052 63,524
    DISCOVER FINL SVCS COM 1,565 2,806
    DOLLAR TREE INC 1,456 1,405
    DUKE REALTY CORPORATION 609 839
    EAST WEST BANCORP, INC 2,015 2,130
    EDWARDS LIFESCIENCES 1,806 4,014
    EQUITY LIFESTYLE PRP 906 1,394
    ESSEX PRTY TR INC 1,316 1,187
    EVERCORE PARTNERS INC 715 877
    EVERSOURCE ENERGYINC 1,516 1,557
    EXACT SCIENCES CORPORATION 2,722 4,107
    EXPEDIA INC 1,674 2,516
    FASTENAL COMPANY 1,557 1,709
    FERRARI NV 1,865 3,902
    FIDELITY 500 INDEX FUND 1,609,009 1,833,496
    FIDELITY INTERNATL INDEX INSTL 348,288 360,567
    FIRST REPUBLIC BANK 677 1,175
    FIRST TRUST DORSEY WRIGHT FOCU 48,880 80,940
    FISERV INC 2,944 5,351
    FORTIVE CORPORATION 2,470 2,620
    FREEPORT-MCMORAN COPPER & GOLD 1,150 2,602
    GALLAGHER ARTHUR J & CO 1,258 1,485
    GLOBAL PAYMENTS INC 3,480 5,170
    GLOBE LIFE INC 1,144 1,234
    GRACO INC 1,493 2,315
    GUGGENHEIM TOTAL RETURN BOND F 76,997 82,611
    HEALTHPEAK PROPERTIES INC 1,854 1,663
    HESS CORP 1,444 1,425
    HIGHWOODS PRPTY INC 743 753
    HOLOGIC, INC 998 1,238
    HOME DEPOT INC 3,888 6,641
    IDEX CP 1,230 1,594
    INTERCONTINENTAL EXCHANGE, INC 3,466 6,456
    INTUITIVE SURGICAL 3,827 5,727
    INVITATION HOMES INC. 1,144 1,158
    ISHARES 20+ YR TREAS BD 69,282 69,874
    ISHARES CORE MSCI EMERGING MAR 66,517 71,160
    ISHARES MSCI CANADA INDEX FD 99,067 103,838
    ISHARES MSCI PACIFIC EX-JAPAN 33,961 35,089
    ISHARES MSCI-JAPAN 64,921 71,006
    ISHARES TRUST CORE MSCI EUROPE 135,337 139,328
    ITT INC 2,186 3,004
    JUNIPER NETWORKS 1,095 1,103
    KKR & CO INC 65,055 74,097
    L3HARRIS TECHNOLOGIES 1,110 1,134
    LENNAR CORP 1,204 1,753
    LIBERTY BROADBAND CORPORATION 1,023 1,584
    LIBERTY MEDIA CORPORATION - SE 1,085 1,065
    LIBERTY SIRIUS XM GROUP - SER 1,520 1,684
    LIFE STORAGE, INC 912 955
    LIVE NATION INC COM 878 1,323
    M&T BANK CORP 2,738 2,801
    MARKEL CORP 2,129 2,067
    MARTIN MARIETTA MATLS INC 1,194 1,704
    MARVEL TECH INC 1,625 3,375
    MATCH GROUP INC 3,458 6,652
    MCCORMICK & CO 939 1,338
    MERCADOLIBRE, INC 1,684 6,701
    MGM GROWTH PROPERTIES LLC 988 1,283
    MICROCHIP TECHNOLOGY INC 1,170 1,519
    MICROSOFT CORP 10,266 22,242
    MKS INSTRUMENTS, INC 686 1,053
    MONGODB INC CL A 3,997 6,463
    MOTOROLA SOLUTIONS INC 4,151 5,102
    NATIONAL INSTRUMENTS CORPORATI 1,416 1,582
    NETFLIX INC 2,952 5,407
    NEUROCRINE BIOSCIENCES, INC 782 767
    NEXTERA ENERGY PARTNERS LP 1,061 1,408
    NOMAD FOODS LIMITED 1,580 1,957
    NVIDIA CORP 30,239 78,330
    OLD DOMINION FREIGHT LINES 1,231 2,342
    ON SEMICONDUCTOR 1,343 1,440
    PACKAGING CORP AMER 1,774 2,344
    PARSLEY ENERGY INCORPORATED CL 1,416 1,647
    PAYPAL HOLDINGS, INC 3,751 9,836
    PERFORMANCE FOOD GROUP COMPANY 808 1,143
    PERKIN ELMER INC 1,694 1,722
    PIMCO HIGH-YIELD INSTL 83,805 87,136
    PINNACLE FINANCIAL PARTNERS IN 1,271 2,190
    PRINCIPAL PREFERRED SECURITIES 14,080 14,100
    PRUDENTIAL HIGH YIELD FUND CLA 114,931 121,454
    PUBLIC SVC ENTERPRISE GROUP IN 1,458 1,516
    QUEST DIAGNOSTICS 1,216 1,311
    RAYMOND JAMES FINANCIAL INC 1,191 1,435
    REINSURANCE GROUP AMER INC 1,218 1,159
    RESTORATION HARDWARE 388 1,343
    ROCKWELL AUTOMATION INC 1,567 2,257
    S&P GLOBAL INC COM 2,347 4,602
    SALIENT MLP & ENERGY INFRASTRU 36,020 21,041
    SAREPTA THERAPEUTICS INC 440 511
    SBA COMMUNICATIONS CORP 2,301 3,950
    SCHWAB U.S. LARGE-CAP GROWTH 55,476 167,832
    SCHWAB US MID CAP 31,967 63,953
    SEMPRA ENERGY COM 1,206 1,274
    SERVICE NOW 3,909 8,807
    SHERWIN-WILLIAMS CO 3,186 6,614
    SIGNATURE BANK 900 947
    SPLUNK INC 1,077 1,189
    STANLEY BLACK & DECKER INC 661 893
    STONE RIDGE REINSURANCE RISK P 14,366 12,478
    SVB FINANCIAL GROUP 1,029 2,715
    TENCENT HOLDINGS LIMITED 1,447 3,882
    TRANE TECHNOLOGIES PLC 939 1,452
    TRANSDIGM GRP INC 840 1,238
    UNION PACIFIC 3,811 6,038
    UNITED CONTINENTAL HOLDINGS IN 2,453 2,855
    UNITED PARCEL SERVICE 34,897 63,487
    UNITEDHEALTH GROUP INC 3,907 9,118
    UNITY SOFTWARE INC 1,679 3,223
    USD CYRUSONE INC 1,073 1,170
    UTZ BRANDS 954 1,081
    VANGUARD CHARLOTTE INTL BD IDX 195,534 195,966
    VANGUARD INT TRM BD 37,972 37,697
    VANGUARD INTERMEDIATE TERM COR 34,581 34,873
    VANGUARD MORTGAGE-BACKED SEC I 34,716 34,713
    VANGUARD TOT INTL BOND IX ADMI 111,488 117,109
    VANGUARD TOTAL BOND MARKET ETF 107,706 107,945
    VANGUARD TOTAL BOND MARKET IND 60,833 66,031
    VIAVI SOLUTIONS INC 1,575 2,007
    VISA INC 3,973 10,937
    VONTIER CORPORATION 1,287 1,336
    VOYA FINANCIAL INC 592 941
    WALT DISNEY HOLDINGS CO 30,096 48,013
    WASTE CONNECTIONS 3,056 5,436
    WELLTOWER INC. 1,826 2,262
    WEX, INC 886 1,221
    WEYERHAEUSER CO 32,791 45,299
    WYNDHAM HOTELS & RESORTS INC C 1,307 1,843
    WYNN RESORTS 1,723 2,144
    XCEL ENERGY INC 1,706 2,067
    YUM BRANDS INC 1,365 1,737
    ZIMMER BIOMET HOLDINGS 3,000 3,852

    TY 2020 InvestmentsOtherSchedule2
    Name:
    The Cedar Spray Foundation
    EIN:
    82-5332387
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ALPHAKEYS DISTRESSED OPPORTUNI   22,607 1,424
    LIGHT STREET ARGON, L.P   262,788 338,331

    TY 2020 LegalFeesSchedule
    Name:
    The Cedar Spray Foundation
    EIN:
    82-5332387
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Document Review/Drafting 1,865     1,865


    TY 2020 OtherExpensesSchedule
    Name:
    The Cedar Spray Foundation
    EIN:
    82-5332387
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 6,632     6,632
    Bank Charges 1,526 1,526    
    K-1 Exp ALPHAKEYS DISTRESSED O 211 238    
    K-1 Exp LIGHT STREET ARGON, L. 6,739 6,739    
    State or Local Filing Fees 676     676
    FROM PREDECESSOR (SEE GEN EXPL 46,814 30,467   16,320


    TY 2020 OtherIncomeSchedule2
    Name:
    The Cedar Spray Foundation
    EIN:
    82-5332387
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss ALPHAKEYS DISTRESSED OPPORTUNITIES FU -28 -29  
    K-1 Inc/Loss LIGHT STREET ARGON, L.P 790 790  
    Class Action Lawsuit Proceeds 27 27  
    FROM PREDECESSOR FDN (SEE GEN EXPL) 104,841 104,996  


    TY 2020 OtherIncreasesSchedule
    Name:
    The Cedar Spray Foundation
    EIN:
    82-5332387
    Description Amount
    FROM PREDECESSOR FDN (SEE GEN EXPL) 4,763,789


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    The Cedar Spray Foundation
    EIN:
    82-5332387
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 24,365 24,365    


    TY 2020 TaxesSchedule
    Name:
    The Cedar Spray Foundation
    EIN:
    82-5332387
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2020 200      
    990-PF Extension for 2020 2,661      
    Foreign Tax Paid 180 180