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
James Lee Sorenson Family Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)2755 E Cottonwood Pkwy No 500
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Salt Lake City, UT84121
A Employer identification number

45-6794415
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$60,658,896J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,178,174 1,335,162  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,097,377
b Gross sales price for all assets on line 6a 15,345,606
7 Capital gain net income (from Part IV, line 2)... 1,340,813
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 105,176 -51,225 0
12 Total. Add lines 1 through 11........ 2,380,727 2,624,750 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 23,792 0 0 23,792
b Accounting fees (attach schedule)....... Click to see attachment 34,868 0 0 34,868
c Other professional fees (attach schedule).... Click to see attachment 215,934 198,365 0 0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 54,782 18,143 0 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 510 0 0 0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 329,886 216,508 0 58,660
25 Contributions, gifts, grants paid....... 2,405,500 2,405,500
26 Total expenses and disbursements. Add lines 24 and 25 2,735,386 216,508 0 2,464,160
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -354,659
b Net investment income (if negative, enter -0-) 2,408,242
c Adjusted net income (if negative, enter -0-)... 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............. 4,570 26,916 26,916
2 Savings and temporary cash investments......... 1,985,737 1,857,786 1,857,786
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) 4,871,554 Click to see attachment4,631,907 4,631,907
b Investments—corporate stock (attach schedule)....... 37,058,342 Click to see attachment38,455,955 38,455,955
c Investments—corporate bonds (attach schedule)....... 3,415,652 Click to see attachment3,783,529 3,783,529
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 5,247,524 Click to see attachment7,078,676 7,606,669
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment4,499,823 Click to see attachment4,296,134 Click to see attachment4,296,134
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 57,083,202 60,130,903 60,658,896
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 57,083,202 60,130,903
29 Total net assets or fund balances (see instructions)..... 57,083,202 60,130,903
30 Total liabilities and net assets/fund balances (see instructions). 57,083,202 60,130,903
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
57,083,202
2
Enter amount from Part I, line 27a .....................
2
-354,659
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
3,402,360
4
Add lines 1, 2, and 3 ..........................
4
60,130,903
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
60,130,903
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 Graduation Alliance Stock P 2015-06-01 2020-02-25
c K-1 passthru P    
d Better World Wiresless P 2016-10-28 2020-01-31
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 15,340,500   13,600,636 1,739,864
b 5,106   500,000 -494,894
c       395,843
d     300,000 -300,000
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       1,739,864
b       -494,894
c       395,843
d       -300,000
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 1,340,813
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 2,135,707
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 33,475
c All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 33,475
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 33,475
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 83,235
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 83,235
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 49,760
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet49,760 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    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 ofbulletJim 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). Click to see attachment
    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 Trustee
    5.00     		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 198,365
    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 University of Utah - UVF II: Educating students in social impact entrepreneurship and promoting community development in low and moderate-income households. 303,999
    2 Element3 Health Inc: Development of health solutions for seniors, reducing anxiety, depression, and related issues 250,000
    All other program-related investments. See instructions.
    3 Click to see attachment 297,084
    Total. Add lines 1 through 3.........................bullet851,083
    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
    45,076,081
    b
    Average of monthly cash balances.......................
    1b
    2,193,546
    c
    Fair market value of all other assets (see instructions)................
    1c
    4,969,760
    d
    Total (add lines 1a, b, and c).........................
    1d
    52,239,387
    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
    52,239,387
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    783,591
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    51,455,796
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,572,790
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    2,572,790
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    33,475
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
    39
    c
    Add lines 2a and 2b............................
    2c
    33,514
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,539,276
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    256,458
    5
    Add lines 3 and 4............................
    5
    2,795,734
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    2,795,734
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    2,464,160
    b
    Program-related investments—total from Part IX-B..................
    1b
    851,083
    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
    3,315,243
    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
    3,315,243
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 2,795,734
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 2,972,233
    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$ 3,315,243
    a Applied to 2019, but not more than line 2a 2,972,233
    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..... 343,010
    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 ..........     		2,452,724
    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).)
    James Lee Sorenson
    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
    Choice Humanitarian
    7879 South 1530 West Suite 200
    Salt Lake City,UT84088     		None PC Event Sponsorship 5,000
    The Church of Jesus Christ of LDS
    50 E North Temple
    Salt Lake City,UT84150     		None PC General support 1,250,500
    University of Utah
    85 Fort Douglas Blvd Bldg 602
    Salt Lake City,UT84113     		None GOV Impact investing initiative and OZ field buidling 250,000
    Salt Lake Chamber of Commerce
    201 S Main Street 2300
    Salt Lake City,UT84111     		None PC Annaul event sponsorship 2,500
    Utah Sports Commission Foundation
    201 S Main Street 2125
    Salt Lake City,UT84111     		None PC State of Sport Awards Event 2,500
    New Venture Fund
    1828 L Street NW 300-A
    Washington,DC20036     		None PC Economic innovation 100,000
    Intentional Media LLC
    6 Mercer Street Suite 24
    Princeton,NJ08540     		None NC Impact Investing Conference Sponsorship 25,000
    Doctors Without Borders
    40 Rector St 16th Floor
    New York,NY10006     		None PC Treament of Tropical Diseases 500
    Juvenile Diabetes Research Foundation
    200 Vesey Street 28th Floor
    New York,NY10281     		None PC General Support 500
    Days For Girls
    PO Box 2622
    Mt Vernon,WA98273     		None PC Period Pod & Education 500
    Vibrant Emotional Health
    50 Broadway 19th Floor
    New York,NY10004     		None PC Suicide Prevention Programs 500
    World Wildlife Fund
    1250 24th Street NW
    Washington,DC20090     		None PC Adopt an Elephant Program 500
    The Homeless Period Project
    413 Wilton Street
    Greenville,SC29609     		None PC Feminine Hygene Campaign 500
    US for UNHCR
    1310 L Street NW Ste 450
    Washington,DC20005     		None PC Refugee support 500
    Humane Society of Utah
    4242 S 300 W
    Murray,UT84107     		None PC General support 500
    Ocean Cleanup North Pacific Foundation
    Dept LA 24875
    Pasadena,CA91185     		None PC Ocean Cleanup 500
    Utah Domestic Violence Coalition
    124 S 400 E Suite 430
    Salt Lake City,UT84111     		None PC General support 500
    Mentors International
    65 E Wadsworth Park Dr 207
    Draper,UT84020     		None PC General support 500
    US Fund for Unicef
    125 Maiden Lane
    New York,NY10038     		None PC General support 500
    Best Friends Animal Society
    2005 S 1100 E
    Salt Lake City,UT84106     		None PC General support 1,000
    Granite Education Foundation
    2500 S State Street Suite D-108
    Salt Lake City,UT84115     		None GOV General support 500
    Cottonwood Canyons Foundation
    PO Box 712440
    Cottonwood Heights,UT84171     		None PC General support 500
    International Rescue Committee
    PO Box 6068
    Albert Lea,MN56007     		None PC General support 500
    Intermountain Therapy Animals
    4050 S 2700 E
    Salt Lake City,UT84124     		None PC General support 1,000
    Soul Food USA
    512 Saddle Rd
    Gransville,UT84029     		None PC General support 500
    Pancreatic Cancer Action Network
    1500 Rosecrans Ave Suite 200
    Manhattan Beach,CA90266     		None PC General Support 1,000
    Friends of African Children
    1543 Siesta Dr
    Cottonwood Heights,UT84093     		None PC Palace Gold School 500
    American Ideas Foundation
    101 South Main Street 300
    Janesville,WI53545     		None PC Evidence-based Clearing House 200,000
    University of Utah
    85 Fort Douglas Blvd Bldg 602
    Salt Lake City,UT84113     		None GOV College of Nursing 6,000
    No Poor Amoun Us
    1570 E Tomahawk Dr
    Salt Lake City,UT84103     		None PC No Poor Africa Program 5,000
    Adopt-A-Native-Elder
    328 W Gregson Ave
    Salt Lake City,UT84115     		None PC Adopt a Native Elder Program 5,000
    Amanaki Fo'ou
    5181 S 2100 E
    Holladay,UT84117     		None PC General support 5,000
    SoLa I Can Foundation
    8629 Vermont Ave
    Los Angeles,CA90044     		None PC Youth Programs 125,000
    The Road Home
    3380 S 1000 W
    South Salt Lake,UT84119     		None PC Homeless Services 125,000
    University of Utah
    85 Fort Douglas Blvd Bldg 602
    Salt Lake City,UT84113     		None GOV Building Feasibility Study 37,500
    United Way of Utah
    257 E 200 S 300
    Salt Lake City,UT84111     		None PC General support 125,000
    Utah Food Bank
    3150 S 900 W
    South Salt Lake,UT84119     		None PC General support 125,000
    Total .................................bullet 3a 2,405,500
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 1,178,174  
    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.....     14 105,176  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 1,097,377  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 2,380,727 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,380,727
    (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 Beverley Taylor Sorenson Arts Learning Program 501(c)(4) The trustee for James Lee Sorenson Family Foundation also serves as a Director for Friends of 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

    TY 2020 AccountingFeesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting & tax preparation 34,868 0 0 34,868

    TY 2020 AllOthProgRltdInvestmentsSch
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category Amount
    Elevar Equity: Developing essential products and services for disconnected communities in Latin America, Asia and other jurisdictions. 26,000
    Owl Ventures: Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities. 35,000
    VilCap Investments: Investing in positive social and/or environmental impact companies for purposes such as clean energy, increasing access to education and healthcare, and improving livelihoods of underprivileged populations. 145,536
    Newday Financial Technologies: Increasing access to and awareness of socially-impactful investments. 48,000
    Recyclops: Programming to facilitate and assist consumers with recycling to reduce landfills. 25,000
    Capsule Global Inc (aka Flare): Reducing emergency response times and saving lives through connecting emergency response units to patients in need. 17,548

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2020 ExpenditureResponsibilityStmt
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    Liberty & Justice Inc
          		302A West 12th St 309
    New York,NY10014     		2013-06-10 125,000 Creating jobs and increasing access to healthcare 125,000 None 12/10/2015 4/4/17 11/5/18 10/14/19 11/13/20 11/11/21    
    Liberty & Justice Inc
          		302A West 12th St 309
    New York,NY10014     		2014-06-05 6,291 Creating jobs and increasing access to healthcare 6,291 None 6/5/14 12/10/2015 4/4/17 11/14/18 10/14/19 11/11/20 11/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2014-07-03 62,500 Increasing access to essential products and services for disconnected communities 62,500 None 7/3/14 4/15/15 2/25/16 9/1/2016 11/10/17 7/12/18 10/18/19 11/6/20 10/15/21    
    Liberty & Justice Inc
          		302A West 12th St 309
    New York,NY10014     		2014-07-22 75,000 Creating jobs and increasing access to healthcare 75,000 None 12/10/2015 4/4/17 11/5/18 10/14/19 11/13/20 11/11/21    
    Waste Capital Partners Inc
          		656 Arguello Blvd 2
    San Francisco,CA94118     		2014-09-03 250,000 Adressing waste collection problems including reducing greenhouse gases and landfill items. Increasing income and job opportunities for underprivileged pouplations 250,000 None 1/6/16 9/30/2016 7/11/17 7/8/18 11/8/19 11/11/20 11/9/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2014-12-03 95,714 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 95,714 None 12/3/14 3/26/15 2/16/16 9/24/2016 7/10/17 7/5/18 10/7/19 11/13/20 11/10/21    
    STI Solutions LLC
          		125 Cambridge Park Suite 301
    Cambridge,MA02140     		2014-12-10 125,000 Assisting smallholder farmers in developing countries and increasing job opportunities for underprivileged populations 125,000 None 9/29/2016 6/15/17 11/5/18 11/15/19 11/6/20 10/11/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2015-04-10 36,131 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 36,131 None 4/10/15 3/27/15 9/24/2016 7/10/17 7/5/18 10/7/19 11/13/20 11/10/21    
    Quidnet Energy
          		14699 Grove St
    Healdsburg,CA95448     		2015-05-07 125,000 Addressing environmental issues with traditional energy generation methods and providing solutions to electricity grid limitations 125,000 None 11/14/2016 7/27/17 8/16/18 11/13/19 11/2/20 11/8/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2015-05-14 45,000 Increasing access to essential products and services for disconnected communities 45,000 None 5/14/15 2/25/16 9/1/2016 11/10/17 7/12/18 10/18/19 11/6/20 10/15/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2015-05-18 136,895 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 136,895 None 5/18/15 12/31/2015 2/11/16 10/25/17 7/13/18 11/9/19 11/1/20 10/11/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2015-07-10 2,668 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 2,668 None 7/10/15 9/24/2016 7/10/17 7/5/18 10/7/19 11/13/20 11/10/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2015-08-05 30,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 30,000 None 8/5/15 12/31/2015 10/25/17 7/13/18 10/9/19 11/1/20 10/11/21    
    WorldHaus Construction Private Limited
          		130 W Union Street
    Pasadena,CA91103     		2015-08-20 50,000 Providing affordable housing in undeveloped countries 43,700 None 12/14/2015 8/31/16 7/18/17 11/12/18    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2015-10-13 15,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 15,000 None 10/13/15 12/31/2015 10/25/17 7/13/18 10/9/19 11/1/20 10/11/21    
    Elevar Equity III LP
          		220 2nd Ave S Suite 206
    Seattle,WA98104     		2015-12-11 21,500 Increasing access to essential products and services for disconnected communities 21,500 None 12/11/15 2/25/16 9/1/2016 11/10/17 7/12/18 10/18/19 11/6/20 10/15/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2015-12-29 33,368 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 33,368 None 12/29/15 9/24/2016 7/10/17 7/5/18 10/7/19 11/13/20 11/10/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2016-01-06 45,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 45,000 None 10/25/2017 7/13/18 10/9/19 11/1/20 10/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2016-02-01 34,000 Increasing access to essential products and services for disconnected communities 34,000 None 11/10/2017 7/12/18 10/18/19 11/6/20 10/15/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2016-03-31 16,500 Increasing access to essential products and services for disconnected communities 16,500 None 11/10/2017 7/12/18 10/18/19 11/6/20 10/15/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2016-04-20 50,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 50,000 None 10/25/2017 7/13/18 10/9/19 11/1/20 10/11/20 10/11/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2016-07-18 13,358 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 13,358 None 7/10/2017 7/5/18 10/7/19 11/13/20 11/10/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2016-09-16 18,500 Increasing access to essential products and services for disconnected communities 18,500 None 11/10/2017 7/12/18 10/18/19 11/6/20 10/15/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2016-10-24 42,169 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 42,169 None 7/10/2017 7/5/18 10/7/19 11/13/20 11/10/21    
    Liberty & Justice Inc
          		302A West 12th St 309
    New York,NY10014     		2016-10-27 12,641 Creating jobs and increasing access to healthcare 12,641 None 12/10/2015 10/27/16 4/4/17 11/14/18 10/14/19 11/11/20 11/11/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2016-12-02 50,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 50,000 None 10/25/2017 7/13/18 10/9/19 11/1/20 10/11/20 10/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2016-12-02 20,500 Increasing access to essential products and services for disconnected communities 20,500 None 11/10/2017 7/12/18 10/18/19 11/6/20 10/15/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2017-01-24 20,000 Increasing access to essential products and services for disconnected communities 20,000 None 7/12/2018 10/18/19 11/6/20 10/15/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2017-03-06 40,681 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 40,681 None 7/5/2018 10/7/19 11/13/20 11/10/21    
    Waste Capital Partners Inc
          		656 Arguello Blvd 2
    San Francisco,CA94118     		2017-04-03 140,000 Adressing waste collection problems including reducing greenhouse gases and landfill items. Increasing income and job opportunities for underprivileged populations 140,000 None 7/8/2018 11/8/19 11/11/20 11/9/21    
    Liberty & Justice Inc
          		302A West 12th St 309
    New York,NY10014     		2017-04-04 50,000 Creating jobs and increasing access to healthcare 50,000 None 11/5/2018 10/14/19 11/11/20 11/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2017-04-06 36,497 Increasing access to essential products and services for disconnected communities 36,497 None 7/12/2018 10/18/19 11/6/20 10/15/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2017-06-01 47,114 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 47,114 None 7/5/2018 10/7/19 11/13/20 11/10/21    
    Elevar Equity III LP
          		220 2nd Ave S Suite 206
    Seattle,WA98104     		2017-06-12 18,500 Increasing access to essential products and services for disconnected communities 18,500 None 7/12/2018 10/18/19 11/6/20 10/15/21    
    Capria Accelerator Fund LP
          		220 2nd Ave South Suite 201
    Seattle,WA89104     		2017-07-21 25,000 Creation of early-stage impact investment funds in emerging markets with the ability to improve lives of low-income individuals 25,000 None 7/9/2018 7/15/19 11/16/20 10/12/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2017-09-05 25,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 25,000 None 7/13/2018 10/9/19 11/1/20 10/11/20 10/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2017-09-21 26,503 Increasing access to essential products and services for disconnected communities 25,609 None 7/12/2018 10/18/19 11/6/20 10/15/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2017-10-13 62,035 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 62,035 None 7/5/2018 10/7/19 11/13/20 11/10/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2017-12-21 33,000 Increasing access to essential products and services for disconnected communities 28,198 None 7/12/2018 10/18/19 11/6/20 10/15/21    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2017-12-21 66,667 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 66,667 None 7/3/2018 11/13/19 11/12/20 10/9/21    
    Capria Accelerator Fund LP
          		220 2nd Ave South Suite 201
    Seattle,WA89104     		2018-01-05 50,000 Creation of early-stage impact investment funds in emerging markets with the ability to improve lives of low-income individuals 50,000 None 7/15/2019 11/16/20 10/12/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2018-01-24 35,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 35,000 None 10/9/2019 11/1/20 10/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2018-03-08 36,000 Increasing access to essential products and services for disconnected communities 33,576 None 10/18/2019 11/6/20 10/15/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2018-03-23 38,114 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 38,114 None 10/7/2019 11/13/20 11/10/21    
    Quidnet Energy
          		14699 Grove St
    Healdsburg,CA95448     		2018-05-10 18,818 Addressing environmental issues with traditional energy generation methods and providing solutions to electricity grid limitations 18,818 None 11/13/2019 11/2/20 11/8/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2018-07-19 45,856 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 45,856 None 10/7/2019 11/13/20 11/10/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2018-07-30 11,500 Increasing access to essential products and services for disconnected communities 11,500 None 10/18/2019 11/6/20 10/15/21    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2018-09-07 37,037 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 37,037 None 11/13/2019 11/12/20 10/9/21    
    Better World Wireless Holdings Inc
          		71 Stevenson Street Suite 400
    San Francisco,CA84105     		2018-10-31 50,000 Offering mobile solutions to vulnerable populations for the purposes of increasing livelihoods and access to housing, health care, and job opportunities 50,000 None 11/15/2019 11/5/20    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2018-11-19 25,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 25,000 None 10/9/2019 11/1/20 10/11/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2018-12-24 35,225 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 35,225 None 10/7/2019 11/13/20 11/10/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2018-12-21 14,000 Increasing access to essential products and services for disconnected communities 12,256 None 10/18/2019 11/6/20 10/15/21    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2018-12-27 150,000 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 150,000 None 11/13/2019 11/12/20 10/9/21    
    Newday Financial Technologies Inc
          		735 Montgomery Street
    San Francisco,CA84111     		2018-12-31 100,000 Increasing access to and awareness of socially-impactful investments 100,000 None 11/4/2020 12/29/20 11/14/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2019-02-21 25,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 25,000 None 11/1/2020 10/11/21    
    Recyclops LLC
          		8091 Maio Dr
    Sandy,UT84093     		2019-05-17 100,000 Programming to facilitate and assisst consumers with recycling to reduce landfills 100,000 None 3/18/2020 10/14/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2019-05-20 22,000 Increasing access to essential products and services for disconnected communities 20,235 None 11/6/2020 10/15/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2019-06-17 27,284 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 1,583 None 11/13/2020 11/10/21    
    Capria Accelerator Fund LP
          		220 2nd Ave South Suite 201
    Seattle,WA89104     		2019-06-26 87,500 Creation of early-stage impact investment funds in emerging markets with the ability to improve lives of low-income individuals 87,500 None 11/16/2020 10/12/21    
    Capsule Global Inc (aka Flare)'
          		8 the GRN B STE
    Dover,DE19901     		2019-07-15 250,000 Reducing emergency response times and saving lives through connecting emergency repsone units to patients in need 250,000 None 9/17/2020 11/8/21    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2019-07-24 41,333 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 41,333 None 11/12/2020 10/9/21    
    Catbus InfoLabs Private Limited (aka Blowhorn)
          		511 8th Cross JP Nagar Third Phase
    Bangalore   560078
    IN     		2019-09-05 246,579 Increasing business opportuities and income for lower middle-income Indian residents to alleviate burdents of the poor and provide greater education opportunities 246,579 None 10/7/2021    
    M-PREP Inc (aka Eneza)
          		1040 W Adams Street
    Chicago,IL60607     		2019-09-30 100,000 Promoting and improving education in Agrican countries 100,000 None 11/6/2020 10/14/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2019-10-01 10,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 10,000 None 11/1/2020 10/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2019-11-21 12,500 Increasing access to essential products and services for disconnected communities 12,500 None 11/6/2020 10/15/21    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2019-12-26 82,668 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 82,668 None 11/12/2020 10/9/21    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2020-02-12 160,000 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 160,000 None 10/9/2021    
    Recyclops LLC
          		8091 Maio Dr
    Sandy,UT84093     		2020-03-20 25,000 Programming to facilitate and assisst consumers with recycling to reduce landfills 25,000 None 10/14/2021    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2020-03-23 25,333 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 25,333 None 10/9/2021    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2020-03-27 35,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 35,000 None 10/11/2021    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2020-04-17 64,495 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 64,495 None 11/10/2021    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2020-04-21 41,333 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 41,333 None 10/9/2021    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2020-05-12 13,500 Increasing access to essential products and services for disconnected communities 11,267 None 10/15/2021    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2020-06-24 11,994 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 11,994 None 11/10/2021    
    Capsule Global Inc (aka Flare)'
          		8 the GRN B STE
    Dover,DE19901     		2020-07-12 17,548 Reducing emergency response times and saving lives through connecting emergency repsone units to patients in need 17,548 None 11/8/2021    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2020-08-12 48,000 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 48,000 None 10/9/2021    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2020-10-16 35,472 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 35,472 None 11/10/2021    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2020-11-16 12,500 Increasing access to essential products and services for disconnected communities 12,190 None 10/15/2021    
    Element3 Health Inc
          		1550 Wewatta 2nd Floor
    Denver,CO80202     		2020-12-01 250,000 Development of health solutions for seniors, reducing anxiety, depression, and related issues 250,000 None 10/15/2021    
    VilCap Investments LLC
          		212 Sutter Street 2nd Floor
    San Francisco,CA94108     		2020-12-29 33,575 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 33,575 None 11/10/2021    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2020-12-30 29,333 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 29,333 None 10/9/2021    
    Newday Financial Technologies Inc
          		735 Montgomery Street
    San Francisco,CA84111     		2020-12-30 48,000 Increasing access to and awareness of socially-impactful investments 0 None 11/14/2021    
    Intentional Media LLC
          		6 Mercer Street Suite 24
    Princeton,NJ08540     		2020-10-02 25,000 Financial education for impact investing, relief of poverty, protecting the environment, and promoting sustainable development 25,000 None 10/9/2021    

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Name of Bond End of Year Book Value End of Year Fair Market Value
    JPMorgan Chase & Co 134,306 134,306
    Goldman Sachs Group 88,398 88,398
    Apple Inc Note 157,520 157,520
    Abbvie Inc Note 83,686 83,686
    American Express Co Note 85,345 85,345
    Amgen Inc Note 85,761 85,761
    Anthem Inc Note 92,254 92,254
    AT&T Inc Note 92,582 92,582
    Bank America Corp Note 136,000 136,000
    Bank New York Mellon Corp Note 126,224 126,224
    CitiGroup Inc Note 136,045 136,045
    Comcast Corp Note 133,975 133,975
    John Deere Cap Corp Note 125,548 125,548
    Enbridge Inc Note 43,509 43,509
    Merck & CO Note 139,604 139,604
    Microsoft Corp Note 171,864 171,864
    Nextera Energy Cap Holdings Inc Bond 82,551 82,551
    Novartis Capital Corp Note 132,736 132,736
    PNC Finanical Svcs Group Note 87,190 87,190
    Schlumberger Invt SA Note 81,423 81,423
    Shell International Fin BV Note 138,245 138,245
    Toronto Dominion Bank Note 65,320 65,320
    United Health Group Note 128,875 128,875
    Verizon Communications Inc Note 104,929 104,929
    Aon Corp Note 70,913 70,913
    Boston PPTYS LTD Note 38,159 38,159
    Walt Disney Co Note 141,097 141,097
    Home Depot Inc Note 130,719 130,719
    Lincoln Natl Corp Note 44,614 44,614
    Lockheed Martin Corp Note 85,193 85,193
    Morgan Stanley Note 85,828 85,828
    PepsiCo Inc Note 139,961 139,961
    Public Svc Enterprise Note 118,417 118,417
    Simon Property Group Note 59,808 59,808
    Equinor ASA Note 127,446 127,446
    Thermo Fisher Scientific Note 87,484 87,484

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AIR PRODUCTS AND CHEMICALS INC 190,981 190,981
    ALTRIA GROUP INC 142,680 142,680
    APPLE INC COM USD0.00001 348,179 348,179
    BERKSHIRE HATHAWAY INC COM USD0.0033 CLASS B 314,416 314,416
    BLACKROCK INC COM USD0.01 282,844 282,844
    CHEVRON CORP NEW COM 143,649 143,649
    CINCINNATI FINANCIAL CORP COM USD2.00 121,619 121,619
    CISCO SYSTEMS INC 181,909 181,909
    COCA-COLA CO 96,244 96,244
    COMCAST CORP 183,086 183,086
    DIAGEO ADR EACH REPR 4 ORD GBX28.935185 200,895 200,895
    DOMINION ENERGY INC COM 168,298 168,298
    FASTENAL COM STK USD0.01 172,712 172,712
    FRANKLIN RESOURCES INC COM 74,045 74,045
    INTEL CORP COM USD0.001 165,801 165,801
    JOHNSON &JOHNSON COM USD1.00 265,972 265,972
    LOWES COMPANIES INC COM USD0.50 242,852 242,852
    MERCK &CO. INC COM 188,794 188,794
    MICROSOFT CORP 261,566 261,566
    NESTLE ADR 152,507 152,507
    NINTENDO 8 ADR REP ORD 191,681 191,681
    NORFOLK SOUTHN CORP COM 232,383 232,383
    PAYCHEX INC COM USD0.01 157,754 157,754
    PFIZER INC 171,535 171,535
    PHILIP MORRIS INTERNATIONAL INC COM NPV 123,937 123,937
    TARGET CORP 210,247 210,247
    TEXAS INSTRUMENTS INC COM USD1.00 292,151 292,151
    UNITED PARCEL SERVICE INC 229,698 229,698
    VERIZON COMMUNICATIONS INC 182,478 182,478
    ISHARES RUSSELL 1000 INDEX FUND 989,081 989,081
    VANGUARD INDEX FUNDS S&P 500 ETF USD 2,268,355 2,268,355
    VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT ETF 1,209,851 1,209,851
    VANGUARD REAL ESTATE ETF 243,579 243,579
    ALIBABA GROUP HOLDING LTD SPON ADS 276,716 276,716
    ALPHABET INC CAP STK CL C 147,158 147,158
    ALPHABET INC CAP STK CL A 152,480 152,480
    AMAZON.COM INC 371,290 371,290
    AUTODESK INC 269,005 269,005
    AUTOMATIC DATA PROCESSING INC COM USD0.10 42,288 42,288
    BOEING CO COM USD5.00 227,118 227,118
    CERNER CORP COM USD0.01 83,974 83,974
    CISCO SYSTEMS INC 87,173 87,173
    COLGATE-PALMOLIVE CO COM USD1.00 82,346 82,346
    DEERE & CO 199,635 199,635
    DISNEY WALT CO COM 163,062 163,062
    EXPEDITORS INTERNATIONAL OF WASHINGTON INC 118,127 118,127
    FACEBOOK INC-CLASS A 310,310 310,310
    FACTSET RESEARCH SYSTEMS INC 87,448 87,448
    ILLUMINA INC COM USD0.01 103,230 103,230
    INTUITIVE SURGICAL INC 63,812 63,812
    MICROSOFT CORP 212,189 212,189
    MONSTER BEVERAGE CORP NEW COM 181,631 181,631
    NOVARTIS AG SPONSORED ADR 179,228 179,228
    NOVO NORDISK A/S ADR-EACH CNV INTO 1 CLASS B DKK1 51,968 51,968
    NVIDIA CORPORATION COM 259,533 259,533
    ORACLE CORP 186,243 186,243
    QUALCOMM INC 152,492 152,492
    REGENERON PHARMACEUTICALS INC 151,213 151,213
    ROCHE HOLDINGS ADR 132,268 132,268
    SEI INVTS CO COM 73,849 73,849
    SALESFORCE.COM INC COM USD0.001 225,423 225,423
    SCHLUMBERGER LIMITED COM USD0.01 63,111 63,111
    STARBUCKS CORP COM USD0.001 132,976 132,976
    VISA INC 310,597 310,597
    WORKDAY INC COM USD0.001 CL A 73,081 73,081
    YUM! BRANDS INC 67,741 67,741
    YUM CHINA HLDGS INC COM 53,836 53,836
    ALIBABA GROUP HOLDING LTD SPON ADS 6,516 6,516
    ALPHABET INC CAP STK CL A 7,011 7,011
    AMETEK INC COM 8,466 8,466
    AUTOZONE INC COM USD0.01 5,927 5,927
    BOOKING HOLDINGS INC COM 6,682 6,682
    CARMAX INC 8,596 8,596
    CHARTER COMMUNICATIONS INC NEW CL A 7,277 7,277
    CHIPOTLE MEXICAN GRILL INC 9,707 9,707
    CONSTELLATION SOFTWARE INC COM 6,487 6,487
    CUMMINS INC 7,585 7,585
    DBX ETF TR XTRACK HRVST CSI 38,818 38,818
    DEERE & CO 10,762 10,762
    EXPEDITORS INTERNATIONAL OF WASHINGTON INC 7,419 7,419
    FACEBOOK INC-CLASS A 8,195 8,195
    FASTENAL COM STK USD0.01 7,910 7,910
    HEICO CORP 9,268 9,268
    INTERCONTINENTAL EXCHANGE INC COM USD0.01 5,895 5,895
    ISHARES MSCI ISRAEL ETF 71,739 71,739
    ISHARES MSCI SOUTH KOREA ETF 91,471 91,471
    ISHARES INC MSCI GERMANY ETF 66,891 66,891
    ISHARES INC MSCI HONG KG ETF 59,407 59,407
    ISHARES MSCI PHILIPPINES ETF 58,497 58,497
    ISHARES MSCI TAIWAN ETF 77,815 77,815
    ISHARES MSCI SINGAPORE ETF 55,504 55,504
    ISHARES INC MSCI MLY ETF NEW 64,454 64,454
    ISHARES INC MSCI JPN ETF NEW 68,506 68,506
    KLA CORP COM NEW 8,351 8,351
    LAM RESEARCH CORP COM USD0.001 9,445 9,445
    LENNOX INTERNATIONAL INC COM USD0.01 7,671 7,671
    LOWES COMPANIES INC COM USD0.50 6,928 6,928
    MASTERCARD INCORPORATED CL A 7,496 7,496
    MOODYS CORP COM USD0.01 6,676 6,676
    NVR INC COM USD0.01 4,080 4,080
    OREILLY AUTOMOTIVE INC COM 6,789 6,789
    QUALCOMM INC 5,508 5,508
    ROPER TECHNOLOGIES INC 7,329 7,329
    ROSS STORES INC 7,491 7,491
    S&P GLOBAL INC COM 6,575 6,575
    SPDR S&P CHINA ETF 35,547 35,547
    TJX COMPANIES INC 7,580 7,580
    TENCENT HOLDINGS LIMITED UNSPON ADR 7,856 7,856
    TRANSDIGM GROUP INC 9,902 9,902
    UBIQUITI INC COM 9,469 9,469
    UNION PAC CORP COM 7,704 7,704
    UNITED RENTALS INC 8,349 8,349
    VISA INC 7,218 7,218
    ARCH CAPITAL GROUP COM STK USD0.01 7,358 7,358
    ARC DOCUMENT SOLUTIONS INC 9,864 9,864
    AXT INC 23,801 23,801
    ACACIA RESEARCH CORP 14,062 14,062
    AMERICAN RIV BANKSHARES COM 17,266 17,266
    AMTECH SYSTEMS INC 18,540 18,540
    ASURE SOFTWARE INC 22,088 22,088
    ATLANTIC CAP BANCSHARES INC COM 10,969 10,969
    BG STAFFING INC COM USD0.01 19,399 19,399
    BANK OF COMMERCE HOLDINGS INC COM NPV 17,810 17,810
    BARRETT BUSINESS SVCS INC COM 25,715 25,715
    BAYCOM CORP COM 5,583 5,583
    BUILD-A-BEAR WORKSHOP INC 10,961 10,961
    CAI INTERNATIONAL INC COM STK USD0.0001 24,523 24,523
    CRA INTERNATIONAL INC 24,650 24,650
    CRH MED CORP COM ISIN #CA12626F1053 SEDOL #2900205 17,398 17,398
    CAPITAL BANCORP INC MD COM 14,794 14,794
    CIVISTA BANCSHARES INC COM NO PAR 11,657 11,657
    COHU INC 16,914 16,914
    COLUMBUS MCKINNON CORP 12,877 12,877
    COMTECH TELECOMMUNICATIONS CORP 23,049 23,049
    DMC GLOBAL INC COM 13,235 13,235
    DHI GROUP INC COM 9,346 9,346
    EAGLE BANCORP MONTANA INC COM USD0.01 11,331 11,331
    ESQUIRE FINL HLDGS INC COM 24,007 24,007
    FS BANCORP INC COM 21,427 21,427
    FARMERS NATIONAL BANC CORP COM 15,141 15,141
    FIRST BANCSHARES INC MISS COM USD1 13,556 13,556
    FIRST BUSINESS FINANCIAL SERVICES INC 14,654 14,654
    FIRST NORTHWEST BANCORP COM USD0.01 14,305 14,305
    HERITAGE INSURANCE HOLDINGS 13,047 13,047
    HORIZON BANCORP INC COM 13,291 13,291
    HURCO COMPANIES INC 15,090 15,090
    INTEST CORP 8,651 8,651
    LCNB CORP COM NPV 12,957 12,957
    LANDEC CORP 16,373 16,373
    LIFETIME BRANDS INC 25,293 25,293
    MANITEX INTERNATIONAL INC 18,241 18,241
    METROPOLITAN BK HLDG CORP COM 15,814 15,814
    MISTRAS GROUP INC COM USD0.01 4,284 4,284
    NN INC COM 9,481 9,481
    NATURAL GAS SERVICES GROUP INC 16,277 16,277
    NORTHEAST BK LEWISTON ME COM 26,596 26,596
    NORTHWEST PIPE CO COM STK USD0.01 28,838 28,838
    ONE STOP SYS INC COM 9,364 9,364
    ORRSTOWN FINANCIAL SERVICES INC COM NPV 9,516 9,516
    PAM TRANSPORTATION SERVICES INC 15,876 15,876
    PARKE BANCORP INC COM STK USD0.10 14,711 14,711
    PENNANTPARK FLOATING RATE CAP COM 14,331 14,331
    PHOTRONICS INC 8,136 8,136
    PREMIER FINANCIAL BANCORP INC 15,071 15,071
    PROFIRE ENERGY INC 4,364 4,364
    QUANTUM CORP COM NEW 12,797 12,797
    RIMINI STR INC DEL COM 8,864 8,864
    RIVERVIEW BANCORP INC COM 13,639 13,639
    SHOE CARNIVAL INC 13,674 13,674
    SHYFT GROUP INC COM 33,659 33,659
    SILVERCREST ASSET MANAGEMENT GROUP INC 18,418 18,418
    SMITH MICRO SOFTWARE INC COM NEW 15,805 15,805
    SMTC CORP 7,083 7,083
    STERLING CONSTR INC COM 17,438 17,438
    TWIN DISC INC 16,626 16,626
    ULTRA CLEAN HOLDINGS INC 11,650 11,650
    UNIQUE FABRICATING INC COM 13,666 13,666
    UNIVERSAL ELECTRONICS INC 18,099 18,099
    WEST BANCORPORATION INC 16,579 16,579
    ZAGG INC 17,210 17,210
    ZOVIO INC COM 7,940 7,940
    ICHOR HOLDINGS SHS 7,898 7,898
    ALPHABET INC CAP STK CL C 480,015 480,015
    AMAZON.COM INC 309,408 309,408
    ANTHEM INC 133,573 133,573
    BERKSHIRE HATHAWAY INC COM USD0.0033 CLASS B 283,809 283,809
    CAPITAL ONE FINANCIAL CORP COM USD0.01 73,940 73,940
    CITIGROUP INC 236,959 236,959
    COMCAST CORP 376,180 376,180
    DISNEY WALT CO COM 170,490 170,490
    DISH NETWORK CORPORATION CL A 86,412 86,412
    FACEBOOK INC-CLASS A 259,775 259,775
    GENERAL ELECTRIC CO COM USD0.06 246,240 246,240
    GENERAL MTRS CO COM 117,883 117,883
    GOLDMAN SACHS GROUP INC COM USD0.01 251,316 251,316
    HILTON WORLDWIDE HLDGS INC 164,999 164,999
    LIBERTY BROADBAND CORP COM SER A 183,738 183,738
    LIBERTY BROADBAND CORP COM SER C 96,764 96,764
    MARRIOTT INTERNATIONAL INC COM USD0.01 CLASS A 276,372 276,372
    MICROSOFT CORP 443,505 443,505
    MORGAN STANLEY COM USD0.01 146,860 146,860
    NETFLIX INC 150,864 150,864
    UNITEDHEALTH GROUP INC 213,564 213,564
    WABTEC COM 46,409 46,409
    WELLS FARGO CO NEW COM 243,040 243,040
    WOODWARD INC COM 46,181 46,181
    AON PLC SHS CL A COM USD0.01 261,341 261,341
    AERCAP HOLDINGS N.V. EUR0.01 58,479 58,479
    LYONDELLBASELL INDUSTRIES N V COM EUR0.04 CLASS A 56,463 56,463
    ALLSTATE CORP COM USD0.01 46,610 46,610
    BEST BUY CO INC COM USD0.10 37,721 37,721
    BRISTOL-MYERS SQUIBB CO COM 42,322 42,322
    CIGNA CORP NEW COM 47,257 47,257
    CAPITAL ONE FINANCIAL CORP COM USD0.01 52,747 52,747
    CATERPILLAR INC COM 44,858 44,858
    CHARTER COMMUNICATIONS INC NEW CL A 41,678 41,678
    CITIGROUP INC 41,990 41,990
    DOLLAR GEN CORP NEW COM 39,957 39,957
    EBAY INC. COM 40,975 40,975
    FISERV INC 35,638 35,638
    FORTINET INC COM USD0.001 29,112 29,112
    HP INC COM 52,303 52,303
    HILTON WORLDWIDE HLDGS INC 51,958 51,958
    INTERCONTINENTAL EXCHANGE INC COM USD0.01 48,088 48,088
    KLA CORP COM NEW 58,460 58,460
    KROGER CO COM USD1.00 39,345 39,345
    LAM RESEARCH CORP COM USD0.001 58,089 58,089
    OREILLY AUTOMOTIVE INC COM 38,468 38,468
    ORACLE CORP 44,425 44,425
    PNC FINANCIAL SERVICES GROUP COM USD5 55,130 55,130
    QUALCOMM INC 49,575 49,575
    SOUTHWEST AIRLINES CO 47,962 47,962
    TERADYNE INC COM USD0.125 56,755 56,755
    JOHNSON CONTROLS INTERNATIONAL PLC COM USD1.00 44,726 44,726
    EATON VANCE ATLANTA CAP SMID CAP FD I 4,476,030 4,476,030
    JOHCM INTERNATIONAL SELECT FUND CL I 2,641,826 2,641,826
    GOLDMAN SACHS GQG PARTNERS INTL OPP I 2,391,262 2,391,262
    TEMPLETON GLOBAL BOND ADVISOR CLASS 548,884 548,884
    PIMCO COMMODITY REAL RETURN INST 434,911 434,911
    INVESCO DEVELOPING MARKETS Y 2,117,072 2,117,072
    MATTHEWS PACIFIC TIGER FUND INSTL 1,308,750 1,308,750
    CROWN CASTLE INTL CORP NEW COM 201,374 201,374
    AMERICAN TOWER CORP COM USD0.01 4,937 4,937
    EQUITY LIFESTYLE PROPERTIES INC 5,701 5,701
    SBA COMMUNICATIONS CORP NEW CL A 5,359 5,359
    STAG INDUSTRIAL INC 6,508 6,508
    ALPINE INCOME PPTY TR INC COM 15,394 15,394
    GLOBAL MED REIT INC COM NEW 20,634 20,634
    GREAT AJAX CORP COM 14,559 14,559

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    US Government Securities - End of Year Book Value:

    2,998,669
    US Government Securities - End of Year Fair Market Value:

    2,998,669
    State & Local Government Securities - End of Year Book Value:


    1,633,238
    State & Local Government Securities - End of Year Fair Market Value:


    1,633,238


    TY 2020 InvestmentsOtherSchedule2
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SLP IV Technology Fund FMV 728,788 728,788
    CSP III Distressed Opp Fund FMV 94,274 94,274
    Czech II Senior Loan Trust FMV 8,333 8,333
    Blackstone Strategic Partners LP FMV 131,896 131,896
    Sorenson Capital III LP AT COST 183,830 488,718
    Catchafire Inc AT COST 125,195 125,195
    LS Real Estate Recovery IV Trust FMV 58,812 58,812
    Czech III Senior Loan Trust FMV 572,790 572,790
    Turner-Agassi Educational Facilities FMV 224,365 224,365
    Unitus Capital AT COST 250,000 250,000
    Sepio NPL Fund AT COST 133,006 234,178
    Advanced Trade Growth Fund AT COST 1,445,865 1,479,387
    Bushido Capital Fund AT COST 1,000,000 1,032,606
    Sepio Capital Partners AT COST 933,524 956,598
    Rose Affordable Housing Fund AT COST 50,400 40,028
    Bridge Workforce & Affordable Housing Fund AT COST 137,598 132,596
    GMO Systematic Global Macro Fund AT COST 1,000,000 1,048,105

    TY 2020 LegalFeesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Legal 23,792 0 0 23,792


    TY 2020 OtherAssetsSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    Program related investments 4,499,823 4,296,134 4,296,134


    TY 2020 OtherExpensesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Bank charges 510 0 0 0


    TY 2020 OtherIncomeSchedule2
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Passthru income 105,176 -51,225 0


    TY 2020 OtherIncreasesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Description Amount
    Unrealized appreciation 3,402,360


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment advisory fees 198,365 198,365 0 0
    IT Consulting 17,569 0 0 0


    TY 2020 TaxesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Federal taxes 49,100 0 0 0
    Foreign taxes 5,682 18,143 0 0