Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
Beverley Taylor Sorenson Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)2755 E Cottonwood Pkwy 500
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Salt Lake City, UT84121
A Employer identification number

46-3784084
B Telephone number (see instructions)

(801) 490-1013
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$30,384,075J 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) 27,500
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 495,018 553,309  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 729,447
b Gross sales price for all assets on line 6a 11,183,126
7 Capital gain net income (from Part IV, line 2)... 937,744
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 389,256 37,209  
12 Total. Add lines 1 through 11........ 1,641,221 1,528,262  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 3,849 0   3,849
b Accounting fees (attach schedule)....... Click to see attachment 22,379 0   22,379
c Other professional fees (attach schedule).... Click to see attachment 119,458 119,458   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 33,344 1,344   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 4,216 0   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 183,246 120,802   26,228
25 Contributions, gifts, grants paid....... 1,282,000 1,282,000
26 Total expenses and disbursements. Add lines 24 and 25 1,465,246 120,802   1,308,228
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 175,975
b Net investment income (if negative, enter -0-) 1,407,460
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.............   3,452 3,452
2 Savings and temporary cash investments......... 1,756,324 1,000,671 1,000,671
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) 1,420,359 Click to see attachment1,372,178 1,372,178
b Investments—corporate stock (attach schedule)....... 19,915,908 Click to see attachment21,875,127 21,875,127
c Investments—corporate bonds (attach schedule)....... 955,726 Click to see attachment1,130,515 1,130,515
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 3,647,916 Click to see attachment4,280,580 5,002,132
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) 27,697,629 29,662,523 30,384,075
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 27,697,629 29,662,523
29 Total net assets or fund balances (see instructions)..... 27,697,629 29,662,523
30 Total liabilities and net assets/fund balances (see instructions). 27,697,629 29,662,523
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
27,697,629
2
Enter amount from Part I, line 27a .....................
2
175,975
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
1,788,919
4
Add lines 1, 2, and 3 ..........................
4
29,662,523
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
29,662,523
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 K-1 Passthru 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 11,183,126   10,438,198 744,928
b       192,816
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       744,928
b       192,816
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 2 937,744
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 19,564
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 19,564
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 19,564
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 27,193
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 27,193
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 7,629
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet7,629 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    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)
    bulletUT
    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 addressbulletN/A
    14
    The books are in care ofbulletJames Lee Sorenson Telephone no.bullet (801) 490-1013

    Located atbullet2755 E Cottonwood Pkwy 500Salt Lake CityUT ZIP+4bullet84121
    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
    0
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    James Lee Sorenson Director
    1.00     		0 0 0
    2755 E Cottonwood Pkwy 500
    Salt Lake City,UT84121
    Joan Fenton Director
    1.00     		0 0 0
    2755 E Cottonwood Pkwy 500
    Salt Lake City,UT84121
    Joseph Sorenson Director
    1.00     		0 0 0
    2755 E Cottonwood Pkwy 500
    Salt Lake City,UT84121
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    Sepio Capital Investment advice 119,458
    50 California Street Suite 3525
    San Francisco,CA94111
    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
    22,127,951
    b
    Average of monthly cash balances.......................
    1b
    1,473,504
    c
    Fair market value of all other assets (see instructions)................
    1c
    4,347,147
    d
    Total (add lines 1a, b, and c).........................
    1d
    27,948,602
    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
    27,948,602
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    419,229
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    27,529,373
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,376,469
    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
    1,376,469
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    19,564
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    19,564
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,356,905
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    300,000
    5
    Add lines 3 and 4............................
    5
    1,656,905
    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
    1,656,905
    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
    1,308,228
    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
    1,308,228
    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
    1,308,228
    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 1,656,905
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 1,277,100
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 1,308,228
    a Applied to 2019, but not more than line 2a 1,277,100
    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..... 31,128
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		1,625,777
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    American Indian Services
    3115 E Lion Ln Suite 320
    Cottonwood Heights,UT84121     		None PC AIS scholarship program 200,000
    Hale Center Theater
    3333 S Decker Lake Dr
    Salt Lake City,UT84119     		None PC Student matinee program 30,000
    Junior Achievement of Utah
    515 South 700 East Suite 1F
    Salt Lake City,UT84102     		None PC Whole school funding for JA education 12,500
    Spy Hop Productions
    699 S West Temple Suite 202
    Salt Lake City,UT84101     		None PC Arts outreach program 50,000
    University of Utah
    1395 Presidents Circle
    Salt Lake City,UT84112     		None GOV Museum of Fine Arts 50,000
    Utah Chamber Artists
    11640 Littler Rd
    Sandy,UT84092     		None PC Concert series 100,000
    Utah State Board of Education
    250 E 500 S
    Salt Lake City,UT84114     		None GOV Arts learning program 500,000
    Voices for Utah Children
    747 E South Temple Suite 100
    Salt Lake City,UT84112     		None PC Utah Juvenile Justice Program 40,000
    The Helper Project
    167 S Main Street
    Helper,UT84526     		None PC Arts learning program 13,500
    Ballet West
    52 West 200 South
    Salt Lake City,UT84101     		None PC Nutcracker performance 100,000
    Choice Humanitarian
    7879 S 1530 W 200
    Salt Lake City,UT84088     		None PC Navajo Equitable & Resilient Recovery Program 186,000
    Total .................................bullet 3a 1,282,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 495,018  
    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.....     14 89,256  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 729,447  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aGrant recovery     		    01 300,000  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 1,613,721 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,613,721
    (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
    Friends of the Beverley Taylor Sorenson Arts Learning Program 501(c)(4) Beverley Taylor Sorenson Foundation shares common directors with Friends of the Beverley Taylor Sorenson Arts Learning Program
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

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

    46-3784084
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    Beverley Taylor Sorenson Foundation
          		Employer identification number
    46-3784084
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    Beverley Sorenson Revocable Trust
     
    2755 E Cottonwood Pkwy 500
     
    Salt Lake City, UT84121

    		$ 27,500


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

    		$  


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

    		$  


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

    		$  


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

    		$  


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

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    Name of organization
    Beverley Taylor Sorenson Foundation
          		Employer identification number

    46-3784084
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    Beverley Taylor Sorenson Foundation
          		Employer identification number

    46-3784084
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2020 AccountingFeesSchedule
    Name:
    Beverley Taylor Sorenson Foundation
    EIN:
    46-3784084
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting 22,379 0   22,379

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    Beverley Taylor Sorenson Foundation
    EIN:
    46-3784084
    Name of Bond End of Year Book Value End of Year Fair Market Value
    Abbvie Inc Note 22,376 22,376
    African Dev BK MTN Note 20,274 20,274
    American Electric Power Note 25,326 25,326
    American Express Note 26,932 26,932
    Amgen Inc Note 15,519 15,519
    Anthem Inc Note 23,124 23,124
    Apple Inc Note Dec 2022 47,712 47,712
    AT&T Note 29,316 29,316
    Bank of America Corp Note 40,747 40,747
    Boston PPTYS LTD Note Nov 2023 11,024 11,024
    Citigroup Inc Note 33,717 33,717
    Comcast Corp Note 39,444 39,444
    Deere John Cap Corp Note Mar 2023 47,897 47,897
    DTE Electric Co Note 27,007 27,007
    Enbridge Inc Note 10,503 10,503
    Equinor ASA Note 42,184 42,184
    General Mills Inc Note Sep 2023 27,419 27,419
    Goldman Sachs Group Inc Note 23,292 23,292
    Home Depot Note Jun 2025 51,119 51,119
    JP Morgan Chase Note Oct 2026 50,257 50,257
    Lincoln National Corp Note 11,294 11,294
    Mastercard Inc Note 35,147 35,147
    Merck & Co Inc Note 41,095 41,095
    Microsoft Corp Note 49,354 49,354
    Morgan Stanley MTN Note 21,706 21,706
    nextera Energy Cap Holdings Bond 20,783 20,783
    PNC Financial Services Inc Note 22,105 22,105
    Public Svc Enterprise Group Note 37,723 37,723
    Schlumberger SA Note Dec 2023 43,547 43,547
    Shell International Fin BV Note 33,301 33,301
    Simon Property Group LP Note 16,438 16,438
    State Street Corp Note 32,136 32,136
    Target Corp Note 10,752 10,752
    Thermo Fisher Scientific Inc Note 25,235 25,235
    total Capital Intl Note 23,409 23,409
    UnitedHealth Group Note 34,699 34,699
    Verizon Communications Inc Note 19,788 19,788
    Walt Disney Note 36,814 36,814

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    Beverley Taylor Sorenson Foundation
    EIN:
    46-3784084
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ARC DOCUMENT SOLUTIONS INC 7,418 7,418
    AXT INC 17,896 17,896
    ACACIA RESEARCH CORP 10,575 10,575
    AMERICAN RIV BANKSHARES COM 12,979 12,979
    AMTECH SYSTEMS INC 13,947 13,947
    ASURE SOFTWARE INC 16,607 16,607
    ATLANTIC CAP BANCSHARES INC COM 8,247 8,247
    BG STAFFING INC COM USD0.01 14,583 14,583
    BANK OF COMMERCE HOLDINGS INC COM NPV 13,395 13,395
    BARRETT BUSINESS SVCS INC COM 19,303 19,303
    BAYCOM CORP COM 4,202 4,202
    BUILD-A-BEAR WORKSHOP INC 8,245 8,245
    CAI INTERNATIONAL INC COM STK USD0.0001 18,432 18,432
    CRA INTERNATIONAL INC 18,539 18,539
    CRH MED CORP COM ISIN #CA12626F1053 SEDOL #2900205 13,081 13,081
    CAPITAL BANCORP INC MD COM 11,130 11,130
    CIVISTA BANCSHARES INC COM NO PAR 8,765 8,765
    COHU INC 12,714 12,714
    COLUMBUS MCKINNON CORP 9,687 9,687
    COMTECH TELECOMMUNICATIONS CORP 17,338 17,338
    DMC GLOBAL INC COM 9,904 9,904
    DHI GROUP INC COM 7,029 7,029
    EAGLE BANCORP MONTANA INC COM USD0.01 8,509 8,509
    ESQUIRE FINL HLDGS INC COM 18,039 18,039
    FS BANCORP INC COM 16,111 16,111
    FARMERS NATIONAL BANC CORP COM 11,386 11,386
    FIRST BANCSHARES INC MISS COM USD1 10,190 10,190
    FIRST BUSINESS FINANCIAL SERVICES INC 10,991 10,991
    FIRST NORTHWEST BANCORP COM USD0.01 10,748 10,748
    HERITAGE INSURANCE HOLDINGS 9,806 9,806
    HORIZON BANCORP INC COM 9,992 9,992
    HURCO COMPANIES INC 11,340 11,340
    INTEST CORP 6,503 6,503
    LCNB CORP COM NPV 9,739 9,739
    LANDEC CORP 12,315 12,315
    LIFETIME BRANDS INC 19,030 19,030
    MANITEX INTERNATIONAL INC 13,715 13,715
    METROPOLITAN BK HLDG CORP COM 11,897 11,897
    MISTRAS GROUP INC COM USD0.01 3,228 3,228
    NN INC COM 7,128 7,128
    NATURAL GAS SERVICES GROUP INC 12,239 12,239
    NORTHEAST BK LEWISTON ME COM 19,998 19,998
    NORTHWEST PIPE CO COM STK USD0.01 21,678 21,678
    ONE STOP SYS INC COM 7,044 7,044
    ORRSTOWN FINANCIAL SERVICES INC COM NPV 7,150 7,150
    PAM TRANSPORTATION SERVICES INC 11,956 11,956
    PARKE BANCORP INC COM STK USD0.10 11,060 11,060
    PENNANTPARK FLOATING RATE CAP COM 10,772 10,772
    PHOTRONICS INC 6,116 6,116
    PREMIER FINANCIAL BANCORP INC 11,336 11,336
    PROFIRE ENERGY INC 3,286 3,286
    QUANTUM CORP COM NEW 9,651 9,651
    RIMINI STR INC DEL COM 6,689 6,689
    RIVERVIEW BANCORP INC COM 10,257 10,257
    SHOE CARNIVAL INC 10,265 10,265
    SHYFT GROUP INC COM 25,315 25,315
    SILVERCREST ASSET MANAGEMENT GROUP INC 13,848 13,848
    SMITH MICRO SOFTWARE INC COM NEW 11,886 11,886
    SMTC CORP 5,327 5,327
    STERLING CONSTR INC COM 13,120 13,120
    TWIN DISC INC 12,505 12,505
    ULTRA CLEAN HOLDINGS INC 8,753 8,753
    UNIQUE FABRICATING INC COM 10,273 10,273
    UNIVERSAL ELECTRONICS INC 13,587 13,587
    WEST BANCORPORATION INC 12,468 12,468
    ZAGG INC 12,944 12,944
    ZOVIO INC COM 5,972 5,972
    ICHOR HOLDINGS SHS 5,939 5,939
    AFLAC INC COM USD0.10 8,761 8,761
    AT&T INC COM USD1 23,900 23,900
    ACTIVISION BLIZZARD INC COM USD0.000001 8,449 8,449
    ADOBE SYSTEMS INCORPORATED COM 23,506 23,506
    ADVANCED MICRO DEVICES INC 10,730 10,730
    AGILENT TECHNOLOGIES INC COM USD0.01 8,413 8,413
    AKAMAI TECHNOLOGIES COM USD0.01 6,089 6,089
    ALBEMARLE CORP COM USD0.01 4,573 4,573
    ALIGN TECHNOLOGY INC COM USD0.0001 5,344 5,344
    ALLSTATE CORP COM USD0.01 5,936 5,936
    ALPHABET INC CAP STK CL A 98,148 98,148
    AMAZON.COM INC 117,249 117,249
    AMERICAN EXPRESS CO COM USD0.20 14,509 14,509
    AMERICAN INTERNATIONAL GROUP INC 5,603 5,603
    AMGEN INC 19,313 19,313
    ANTHEM INC 8,991 8,991
    APPLE INC COM USD0.00001 181,255 181,255
    APPLIED MATERIALS INC COM USD0.01 11,478 11,478
    ATMOS ENERGY CORP COM NPV 11,833 11,833
    AUTODESK INC 6,717 6,717
    AUTOMATIC DATA PROCESSING INC COM USD0.10 9,691 9,691
    AUTOZONE INC COM USD0.01 4,742 4,742
    BAKER HUGHES COMPANY CL A 4,295 4,295
    BK OF AMERICA CORP COM 23,521 23,521
    BANK OF NEW YORK MELLON CORP COM USD0.01 6,621 6,621
    BAXTER INTERNATIONAL INC COM USD1.00 9,228 9,228
    BEST BUY CO INC COM USD0.10 4,491 4,491
    BOOKING HOLDINGS INC COM 11,136 11,136
    BOSTON SCIENTIFIC CORP 10,569 10,569
    BROADCOM INC COM 21,455 21,455
    BROWN-FORMAN CORP COM USD0.15 CLASS B 4,210 4,210
    CBRE GROUP INC COM USD0.01 CLASS A 4,955 4,955
    CIGNA CORP NEW COM 9,368 9,368
    CME GROUP INC COM 8,920 8,920
    CSX CORP COM USD1 12,524 12,524
    CVS HEALTH CORPORATION COM USD0.01 10,313 10,313
    CARRIER GLOBAL CORPORATION COM 4,602 4,602
    CATALENT INC COM 4,787 4,787
    CATERPILLAR INC COM 12,013 12,013
    CHARTER COMMUNICATIONS INC NEW CL A 17,200 17,200
    CHIPOTLE MEXICAN GRILL INC 8,320 8,320
    CHURCH &DWIGHT COM USD1.00 7,327 7,327
    CISCO SYSTEMS INC 21,883 21,883
    CINTAS CORP 6,009 6,009
    CITIGROUP INC 17,141 17,141
    CLOROX CO COM USD1.00 8,077 8,077
    COGNIZANT TECHNOLOGY SOLUTIONS CORP COM CL A USD0.01 5,573 5,573
    COMCAST CORP 26,776 26,776
    CONSOLIDATED EDISON INC COM USD0.10 10,046 10,046
    COOPER COS INC COM USD0.10 6,540 6,540
    COPART INC COM USD0.0001 4,963 4,963
    CORNING INC 5,328 5,328
    CORTEVA INC COM 5,227 5,227
    DR HORTON INC COM STK USD0.01 4,273 4,273
    DANAHER CORPORATION COM 20,881 20,881
    DEERE & CO 10,762 10,762
    DENTSPLY SIRONA INC COM 5,341 5,341
    DISCOVERY INC COM SER C 4,898 4,898
    DOVER CORP COM USD1.00 5,808 5,808
    DUPONT DE NEMOURS INC COM 12,658 12,658
    EBAY INC. COM 4,472 4,472
    ECOLAB INC 10,602 10,602
    EDISON INTERNATIONAL 7,664 7,664
    EDWARDS LIFESCIENCES CORP 10,309 10,309
    ELECTRONIC ARTS INC 5,888 5,888
    EMERSON ELECTRIC CO 12,538 12,538
    EQUIFAX INC COM USD1.25 5,014 5,014
    EVERSOURCE ENERGY 13,323 13,323
    EXPEDITORS INTERNATIONAL OF WASHINGTON INC 4,851 4,851
    FASTENAL COM STK USD0.01 5,371 5,371
    FIDELITY NATL INFORMATION SERVICES COM USD0.01 11,883 11,883
    FISERV INC 8,767 8,767
    FOX CORP CL B COM 5,603 5,603
    GENERAL MILLS INC COM USD0.10 6,762 6,762
    GENUINE PARTS CO COM USD1.00 4,720 4,720
    GILEAD SCIENCES INC COM USD0.001 14,041 14,041
    GLOBAL PAYMENTS INC 8,617 8,617
    GOLDMAN SACHS GROUP INC COM USD0.01 11,867 11,867
    GRAINGER W W INC COM USD0.50 4,900 4,900
    HCA HEALTHCARE INC COM 5,427 5,427
    HALLIBURTON CO COM USD2.50 4,271 4,271
    HERSHEY COMPANY COM USD1.00 5,941 5,941
    HESS CORPORATION COM USD1.00 8,394 8,394
    HEWLETT PACKARD ENTERPRISE CO COM 4,882 4,882
    HOLLYFRONTIER CORP 4,420 4,420
    HOLOGIC INC 4,370 4,370
    HOME DEPOT INC 30,281 30,281
    HORMEL FOODS CORP 5,407 5,407
    HUMANA INC 6,154 6,154
    IDEXX LABORATORIES INC COM USD0.10 7,498 7,498
    ILLUMINA INC COM USD0.01 8,140 8,140
    INTEL CORP COM USD0.001 20,825 20,825
    INTERCONTINENTAL EXCHANGE INC COM USD0.01 9,338 9,338
    INTERNATIONAL BUS MACH CORP COM USD0.20 13,343 13,343
    INTERNATIONAL PAPER CO COM 5,270 5,270
    INTERPUBLIC GROUP COS INC COM USD0.10 5,574 5,574
    INTUIT INC 10,256 10,256
    INTUITIVE SURGICAL INC 15,544 15,544
    IQVIA HLDGS INC COM 8,779 8,779
    JPMORGAN CHASE & CO 37,359 37,359
    KELLOGG COMPANY COM USD0.25 4,356 4,356
    KEYCORP COM 4,185 4,185
    KIMBERLY-CLARK CORP COM 10,517 10,517
    KINDER MORGAN INC COM USD0.01 10,307 10,307
    KRAFT HEINZ CO COM 5,442 5,442
    KROGER CO COM USD1.00 7,051 7,051
    LAM RESEARCH CORP COM USD0.001 8,973 8,973
    ESTEE LAUDER COMPANIES INC COM USD0.01 CLASS A 11,712 11,712
    LENNAR CORP COM USD0.10 CLASS A 4,040 4,040
    ELI LILLY AND CO 19,585 19,585
    MSCI INC 4,912 4,912
    MARSH &MCLENNAN COMPANIES INC COM USD1.00 10,530 10,530
    MASTERCARD INCORPORATED CL A 29,626 29,626
    MAXIM INTEGRATED PRODUCTS COM USD0.001 4,787 4,787
    MCCORMICK &COMPANY INC COM NPV 5,927 5,927
    MCDONALD S CORP 22,745 22,745
    MERCK &CO. INC COM 29,284 29,284
    METLIFE INC COM USD0.01 8,263 8,263
    METTLER-TOLEDO INTERNATIONAL INC COM USD0.01 5,698 5,698
    MICROSOFT CORP 142,349 142,349
    MICRON TECHNOLOGY INC 10,751 10,751
    MONDELEZ INTL INC COM NPV 15,670 15,670
    MOODYS CORP COM USD0.01 6,385 6,385
    MORGAN STANLEY COM USD0.01 12,130 12,130
    NIKE INC CLASS B COM NPV 19,806 19,806
    NORFOLK SOUTHN CORP COM 11,643 11,643
    NVIDIA CORPORATION COM 29,765 29,765
    OMNICOM GROUP INC COM USD0.15 6,050 6,050
    ONEOK INC COM USD0.01 4,030 4,030
    ORACLE CORP 13,197 13,197
    OTIS WORLDWIDE CORP COM 4,931 4,931
    PNC FINANCIAL SERVICES GROUP COM USD5 9,536 9,536
    PPG INDUSTRIES INC COM USD1.666 9,374 9,374
    PACCAR INC COM USD1.00 6,212 6,212
    PAYCHEX INC COM USD0.01 5,777 5,777
    PAYPAL HLDGS INC COM 24,825 24,825
    PEPSICO INC 26,249 26,249
    PERKINELMER INC COM USD1.00 5,023 5,023
    PROGRESSIVE CORP COM 7,416 7,416
    PRUDENTIAL FINANCIAL INC 9,446 9,446
    QUALCOMM INC 16,910 16,910
    RESMED INC 5,952 5,952
    ROCKWELL AUTOMATION INC COM USD1 6,019 6,019
    S&P GLOBAL INC COM 10,519 10,519
    SALESFORCE.COM INC COM USD0.001 19,805 19,805
    SCHLUMBERGER LIMITED COM USD0.01 14,932 14,932
    SCHWAB CHARLES CORP COM 8,858 8,858
    SEMPRA ENERGY 11,212 11,212
    SERVICENOW INC COM USD0.001 9,908 9,908
    SHERWIN-WILLIAMS CO 11,024 11,024
    SKYWORKS SOLUTIONS INC 5,351 5,351
    SMUCKER J M CO COM NEW 4,162 4,162
    STANLEY BLACK & DECKER INC 6,250 6,250
    STARBUCKS CORP COM USD0.001 20,219 20,219
    STATE STREET CORP 4,512 4,512
    SYSCO CORP 6,461 6,461
    TJX COMPANIES INC 11,404 11,404
    T-MOBILE US INC COM 11,193 11,193
    TARGET CORP 9,356 9,356
    TELEFLEX INCORPORATED COM 6,585 6,585
    THERMO FISHER SCIENTIFIC INC 21,892 21,892
    TRAVELERS COMPANIES INC COM STK NPV 6,457 6,457
    TRUIST FINL CORP COM 8,244 8,244
    TWITTER INC COM USD0.000005 9,206 9,206
    U.S. BANCORP 8,712 8,712
    UNION PAC CORP COM 19,364 19,364
    UNITED PARCEL SERVICE INC 12,462 12,462
    UNITED RENTALS INC 4,406 4,406
    UNITEDHEALTH GROUP INC 32,263 32,263
    V F CORP COM NPV 5,295 5,295
    VERISIGN INC 9,954 9,954
    VERIZON COMMUNICATIONS INC 26,966 26,966
    VERISK ANALYTICS INC COM 8,304 8,304
    VIACOMCBS INC CL B 5,105 5,105
    VISA INC 36,090 36,090
    WABTEC COM 5,124 5,124
    WEST PHARMACEUTICAL SERVICES INC 5,950 5,950
    XYLEM INC COM USD0.01 5,395 5,395
    YUM! BRANDS INC 9,336 9,336
    AON PLC SHS CL A COM USD0.01 6,549 6,549
    ACCENTURE PLC 19,591 19,591
    IHS MARKIT LTD COM USD0.01 ISIN #BMG475671050 SEDOL #BH0K6S8 8,175 8,175
    JOHNSON CONTROLS INTERNATIONAL PLC COM USD1.00 7,920 7,920
    APTIV PLC COM USD0.01 ISIN #JE00B783TY65 SEDOL #B783TY6 7,036 7,036
    STERIS PLC ORD USD0.001 4,928 4,928
    WILLIS TOWERS WATSON PLC COM USD0.000304635 4,424 4,424
    CHUBB LIMITED COM NPV ISIN #CH0044328745 8,773 8,773
    GARMIN LTD COM CHF10.00 5,385 5,385
    ALIBABA GROUP HOLDING LTD SPON ADS EACH REP 8 ORD SHS 5,120 5,120
    ALPHABET INC CAP STK CL A 7,011 7,011
    AMETEK INC COM 6,410 6,410
    AUTOZONE INC COM USD0.01 4,742 4,742
    BOOKING HOLDINGS INC COM 6,682 6,682
    CARMAX INC 4,912 4,912
    CHARTER COMMUNICATIONS INC NEW CL A 5,292 5,292
    CHIPOTLE MEXICAN GRILL INC 5,547 5,547
    CONSTELLATION SOFTWARE INC COM ISIN #CA21037X1006 SEDOL #B15C4L6 5,190 5,190
    CUMMINS INC 5,736 5,736
    DBX ETF TR XTRACK HRVST CSI 28,963 28,963
    DEERE & CO 6,726 6,726
    EXPEDITORS INTERNATIONAL OF WASHINGTON INC 5,611 5,611
    FACEBOOK INC-CLASS A 5,463 5,463
    FASTENAL COM STK USD0.01 6,006 6,006
    HEICO CORP 6,355 6,355
    INTERCONTINENTAL EXCHANGE INC COM USD0.01 4,739 4,739
    ISHARES MSCI ISRAEL ETF 62,123 62,123
    ISHARES MSCI SOUTH KOREA ETF 65,742 65,742
    ISHARES INC MSCI GERMANY ETF 53,642 53,642
    ISHARES INC MSCI HONG KG ETF 55,218 55,218
    ISHARES MSCI PHILIPPINES ETF 47,683 47,683
    ISHARES MSCI TAIWAN ETF 59,078 59,078
    ISHARES MSCI SINGAPORE ETF 45,263 45,263
    ISHARES INC MSCI MLY ETF NEW 55,670 55,670
    ISHARES INC MSCI JPN ETF NEW 57,561 57,561
    KLA CORP COM NEW 7,814 7,814
    LAM RESEARCH CORP COM USD0.001 8,029 8,029
    LENNOX INTERNATIONAL INC COM USD0.01 5,205 5,205
    LOWES COMPANIES INC COM USD0.50 5,156 5,156
    MASTERCARD INCORPORATED CL A 5,711 5,711
    MOODYS CORP COM USD0.01 5,515 5,515
    NVR INC COM USD0.01 8,160 8,160
    OREILLY AUTOMOTIVE INC COM 4,978 4,978
    QUALCOMM INC 4,437 4,437
    ROPER TECHNOLOGIES INC 6,035 6,035
    ROSS STORES INC 7,000 7,000
    S&P GLOBAL INC COM 4,931 4,931
    SPDR S&P CHINA ETF 27,735 27,735
    TJX COMPANIES INC 6,419 6,419
    TENCENT HOLDINGS LIMITED UNSPON ADR 5,746 5,746
    TRANSDIGM GROUP INC 6,189 6,189
    UBIQUITI INC COM 9,748 9,748
    UNION PAC CORP COM 5,622 5,622
    UNITED RENTALS INC 6,957 6,957
    VISA INC 5,687 5,687
    ARCH CAPITAL GROUP COM STK USD0.01 6,457 6,457
    AIR PRODUCTS AND CHEMICALS INC 86,611 86,611
    ALTRIA GROUP INC 61,705 61,705
    APPLE INC COM USD0.00001 151,665 151,665
    BERKSHIRE HATHAWAY INC COM USD0.0033 CLASS B 140,513 140,513
    BLACKROCK INC COM USD0.01 119,776 119,776
    CHEVRON CORP NEW COM 56,582 56,582
    CINCINNATI FINANCIAL CORP COM USD2.00 53,208 53,208
    CISCO SYSTEMS INC 75,180 75,180
    COCA-COLA CO 45,572 45,572
    COMCAST CORP 81,010 81,010
    DIAGEO ADR EACH REPR 4 ORD GBX28.935185 88,457 88,457
    DOMINION ENERGY INC COM 88,360 88,360
    FASTENAL COM STK USD0.01 74,905 74,905
    FRANKLIN RESOURCES INC COM 28,239 28,239
    INTEL CORP COM USD0.001 68,154 68,154
    JOHNSON &JOHNSON COM USD1.00 119,294 119,294
    LOWES COMPANIES INC COM USD0.50 115,407 115,407
    MERCK &CO. INC COM 84,745 84,745
    MICROSOFT CORP 120,107 120,107
    NESTLE ADR 72,656 72,656
    NINTENDO 8 ADR REP ORD 83,288 83,288
    NORFOLK SOUTHN CORP COM 110,726 110,726
    PAYCHEX INC COM USD0.01 74,264 74,264
    PFIZER INC 72,184 72,184
    PHILIP MORRIS INTERNATIONAL INC COM NPV 55,138 55,138
    TARGET CORP 89,501 89,501
    TEXAS INSTRUMENTS INC COM USD1.00 126,380 126,380
    UNITED PARCEL SERVICE INC 103,398 103,398
    VERIZON COMMUNICATIONS INC 82,838 82,838
    ALIBABA GROUP HOLDING LTD SPON ADS EACH REP 8 ORD SHS 125,674 125,674
    ALPHABET INC CAP STK CL C 73,579 73,579
    ALPHABET INC CAP STK CL A 73,611 73,611
    AMAZON.COM INC 192,159 192,159
    AUTODESK INC 141,983 141,983
    AUTOMATIC DATA PROCESSING INC COM USD0.10 19,382 19,382
    BOEING CO COM USD5.00 103,605 103,605
    CERNER CORP COM USD0.01 43,399 43,399
    CISCO SYSTEMS INC 43,318 43,318
    COLGATE-PALMOLIVE CO COM USD1.00 40,874 40,874
    DEERE & CO 104,391 104,391
    DISNEY WALT CO COM 92,764 92,764
    EXPEDITORS INTERNATIONAL OF WASHINGTON INC 61,061 61,061
    FACEBOOK INC-CLASS A 151,331 151,331
    FACTSET RESEARCH SYSTEMS INC 38,903 38,903
    ILLUMINA INC COM USD0.01 54,020 54,020
    INTUITIVE SURGICAL INC 33,542 33,542
    MICROSOFT CORP 110,765 110,765
    MONSTER BEVERAGE CORP NEW COM 91,463 91,463
    NOVARTIS AG SPONSORED ADR 87,253 87,253
    NOVO NORDISK A/S ADR-EACH CNV INTO 1 CLASS B DKK1 23,190 23,190
    NVIDIA CORPORATION COM 127,939 127,939
    ORACLE CORP 100,399 100,399
    QUALCOMM INC 71,295 71,295
    REGENERON PHARMACEUTICALS INC 72,467 72,467
    ROCHE HOLDINGS ADR 64,757 64,757
    SEI INVTS CO COM 37,183 37,183
    SALESFORCE.COM INC COM USD0.001 111,265 111,265
    SCHLUMBERGER LIMITED COM USD0.01 26,829 26,829
    STARBUCKS CORP COM USD0.001 64,830 64,830
    VISA INC 155,517 155,517
    WORKDAY INC COM USD0.001 CL A 39,775 39,775
    YUM! BRANDS INC 34,196 34,196
    YUM CHINA HLDGS INC COM 24,092 24,092
    ALPHABET INC CAP STK CL C 259,278 259,278
    AMAZON.COM INC 166,103 166,103
    ANTHEM INC 71,924 71,924
    BERKSHIRE HATHAWAY INC COM USD0.0033 CLASS B 152,802 152,802
    CAPITAL ONE FINANCIAL CORP COM USD0.01 38,354 38,354
    CITIGROUP INC 127,575 127,575
    COMCAST CORP 202,526 202,526
    DISNEY WALT CO COM 91,677 91,677
    DISH NETWORK CORPORATION CL A 46,505 46,505
    FACEBOOK INC-CLASS A 139,858 139,858
    GENERAL ELECTRIC CO COM USD0.06 132,570 132,570
    GENERAL MTRS CO COM 63,459 63,459
    GOLDMAN SACHS GROUP INC COM USD0.01 135,283 135,283
    HILTON WORLDWIDE HLDGS INC 88,785 88,785
    LIBERTY BROADBAND CORP COM SER A 67,759 67,759
    LIBERTY BROADBAND CORP COM SER C 84,094 84,094
    MARRIOTT INTERNATIONAL INC COM USD0.01 CLASS A 148,806 148,806
    MICROSOFT CORP 238,879 238,879
    MORGAN STANLEY COM USD0.01 79,084 79,084
    NETFLIX INC 81,110 81,110
    UNITEDHEALTH GROUP INC 115,023 115,023
    WABTEC COM 24,961 24,961
    WELLS FARGO CO NEW COM 130,860 130,860
    WOODWARD INC COM 24,792 24,792
    AON PLC SHS CL A COM USD0.01 140,706 140,706
    AERCAP HOLDINGS N.V. EUR0.01 31,496 31,496
    LYONDELLBASELL INDUSTRIES N V COM EUR0.04 CLASS A 30,431 30,431
    ACUITY BRANDS INC 10,656 10,656
    AFFILIATED MANAGERS GROUP INC COM 12,306 12,306
    APTARGROUP INC 25,051 25,051
    ARAMARK COM 28,860 28,860
    BERKLEY W R CORP COM 36,132 36,132
    BIO RAD LABORATORIES INC 8,161 8,161
    BIO-TECHNE CORP COM 14,607 14,607
    BLACKBAUD INC 11,972 11,972
    BOOZ ALLEN HAMILTON HLDG CORP CL A 9,590 9,590
    BROADRIDGE FINANCIAL SOLUTION INC COM USD0.01 16,699 16,699
    BROWN & BROWN INC 16,404 16,404
    BURLINGTON STORES INC 13,339 13,339
    CDW CORP COM USD0.01 5,931 5,931
    CACI INTERNATIONAL INC 16,206 16,206
    CARLISLE COMPANIES INC 28,581 28,581
    CHOICE HOTELS INTERNATIONAL INC 16,650 16,650
    COLUMBIA SPORTSWEAR CO 14,068 14,068
    DECKERS OUTDOOR CORP 3,728 3,728
    DENTSPLY SIRONA INC COM 19,635 19,635
    DOLBY LABORATORIES INC COM CL A 8,547 8,547
    DONALDSON COMPANY INC 7,879 7,879
    ENVISTA HOLDINGS CORPORATION COM 23,105 23,105
    FLIR SYSTEMS INC COM USD0.01 8,372 8,372
    FACTSET RESEARCH SYSTEMS INC 7,648 7,648
    FAIR ISAAC CORP 6,132 6,132
    FRONTDOOR INC COM 7,983 7,983
    GARTNER INC COM USD0.0005 18,262 18,262
    GRACO INC 8,176 8,176
    HENRY JACK &ASSOCIATES INC COM USD0.01 8,100 8,100
    HEXCEL CORP 13,771 13,771
    HUNT J.B. TRANSPORT SERVICES INC COM USD0.01 23,777 23,777
    IAA INC COM 18,324 18,324
    IDEX CORP COM USD0.01 12,151 12,151
    JONES LANG LASALLE INC COM USD0.01 11,721 11,721
    KIRBY CORP 9,951 9,951
    LKQ CORP 7,577 7,577
    LANDSTAR SYSTEM INC 14,005 14,005
    LENNOX INTERNATIONAL INC COM USD0.01 18,082 18,082
    MANHATTAN ASSOCIATES INC COM USD0.01 16,618 16,618
    MARKEL CORP COM NPV 18,599 18,599
    MORNINGSTAR INC 15,052 15,052
    NORDSON CORP 16,478 16,478
    POOL CORP COM 8,568 8,568
    PROSPERITY BANCSHARES INC 10,196 10,196
    RPM INTERNATIONAL INC 22,967 22,967
    SEI INVTS CO COM 18,161 18,161
    HENRY SCHEIN INC COM 5,750 5,750
    SERVICE CORPORATION INTERNATIONAL COM USD1.00 5,941 5,941
    TELEFLEX INCORPORATED COM 8,231 8,231
    TERMINIX GLOBAL HOLDINGS INC COM 24,638 24,638
    TRANSUNION COM 10,021 10,021
    TRIMBLE INC COM 12,219 12,219
    ULTA BEAUTY INC COM 14,932 14,932
    UMPQUA HOLDINGS CORP 8,009 8,009
    WEX INC 27,680 27,680
    WOODWARD INC COM 8,264 8,264
    GOLDMAN SACHS GQG PARTNERS INTL OPP I 1,421,534 1,421,534
    INVESCO DEVELOPING MARKETS Y 934,303 934,303
    JOHCM INTERNATIONAL SELECT FUND CL I 1,451,157 1,451,157
    TEMPLETON GLOBAL BOND ADVISOR CLASS 796,834 796,834
    VANGUARD INFLATION PROCTED SEC ADM CL 406,427 406,427
    PIMCO COMMODITY REAL RETURN INST 729,883 729,883
    CONESTOGA SMID CAP FUND INSTITUTIONAL 834,523 834,523
    BLACKROCK GLOBAL IMPACT FUND I 1,260,415 1,260,415
    GMO EMERGING MARKETS FUND I 910,308 910,308
    ALPINE INCOME PPTY TR INC COM 11,617 11,617
    GLOBAL MED REIT INC COM NEW 15,515 15,515
    GREAT AJAX CORP COM 10,920 10,920
    ALEXANDRIA REAL ESTATE EQUITIES COM USD0.01 6,416 6,416
    AMERICAN TOWER CORP COM USD0.01 11,672 11,672
    AVALONBAY COMMUNITIES INC COM USD0.01 6,578 6,578
    BOSTON PROPERTIES INC COM 5,672 5,672
    DIGITAL REALTY TRUST INC 4,743 4,743
    EQUINIX INC COM 8,570 8,570
    EQUITY RESIDENTIAL SBI USD0.01 7,529 7,529
    HOST HOTELS &RESORTS INC COM 4,374 4,374
    PROLOGIS INC. COM 10,265 10,265
    PUBLIC STORAGE COM USD0.10 7,159 7,159
    SBA COMMUNICATIONS CORP NEW CL A 4,796 4,796
    WELLTOWER INC COM 5,622 5,622
    AMERICAN TOWER CORP COM USD0.01 4,489 4,489
    EQUITY LIFESTYLE PROPERTIES INC 5,322 5,322
    SBA COMMUNICATIONS CORP NEW CL A 4,514 4,514
    STAG INDUSTRIAL INC 5,314 5,314
    CROWN CASTLE INTL CORP NEW COM ISIN #US22822V1017 SEDOL #BTGQCX1 96,309 96,309

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    Beverley Taylor Sorenson Foundation
    EIN:
    46-3784084
    US Government Securities - End of Year Book Value:

    877,100
    US Government Securities - End of Year Fair Market Value:

    877,100
    State & Local Government Securities - End of Year Book Value:


    495,078
    State & Local Government Securities - End of Year Fair Market Value:


    495,078


    TY 2020 InvestmentsOtherSchedule2
    Name:
    Beverley Taylor Sorenson Foundation
    EIN:
    46-3784084
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ML Private Equity Investments FMV 560,402 560,402
    Private Equity Investment AT COST 3,720,178 4,441,730

    TY 2020 LegalFeesSchedule
    Name:
    Beverley Taylor Sorenson Foundation
    EIN:
    46-3784084
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Legal 3,849 0   3,849


    TY 2020 OtherExpensesSchedule
    Name:
    Beverley Taylor Sorenson Foundation
    EIN:
    46-3784084
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Insurance 4,216 0   0


    TY 2020 OtherIncomeSchedule2
    Name:
    Beverley Taylor Sorenson Foundation
    EIN:
    46-3784084
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Passthru Income 89,256 37,209 89,256
    Grant recovery 300,000   0


    TY 2020 OtherIncreasesSchedule
    Name:
    Beverley Taylor Sorenson Foundation
    EIN:
    46-3784084
    Description Amount
    Unrealized appreciation 1,788,919


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    Beverley Taylor Sorenson Foundation
    EIN:
    46-3784084
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Management Fees 119,458 119,458   0


    TY 2020 TaxesSchedule
    Name:
    Beverley Taylor Sorenson Foundation
    EIN:
    46-3784084
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Federal taxes 32,000 0   0
    Foreign taxes 1,344 1,344   0