TY 2020 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go 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
SAUL FOUNDATION FOR PROGRESS INC
C/O NIXON PEABODY LLP MICHAEL J COONEY

Number and street (or P.O. box number if mail is not delivered to street address)799 9TH STREET NW NO 500
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
WASHINGTON, DC200015327

A Employer identification number

47-4954803

B Telephone number (see instructions)

(202) 585-8188

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$32,920,443J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	2		2
4	Dividends and interest from securities...	388,349		388,349
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-4,224,684
b	Gross sales price for all assets on line 6a 6,103,409
7	Capital gain net income (from Part IV, line 2)...			0
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		31,303	1,885
12	Total. Add lines 1 through 11........	-3,805,030		390,236
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).........		88,937	0	88,937
b	Accounting fees (attach schedule).......		79,975	7,997	71,978
c	Other professional fees (attach schedule)....		510,757	266,821	243,936
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		19,430	4,405	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............	2,607		261	2,346
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		15,128	681	6,121
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	716,834		280,165	413,318
25	Contributions, gifts, grants paid.......	1,311,982			1,311,982
26	Total expenses and disbursements. Add lines 24 and 25	2,028,816		280,165	1,725,300
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-5,833,846
b	Net investment income (if negative, enter -0-)			110,071
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	5,037,733	331,781	331,781
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	23,639,094	32,554,009	32,554,009
	c	Investments—corporate bonds (attach schedule).......	21,719	22,217	22,217
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	1,950,000	0	0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	24,246	12,436	12,436
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	30,672,792	32,920,443	32,920,443
	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 )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		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
		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	30,672,792	32,920,443
	29	Total net assets or fund balances (see instructions).....	30,672,792	32,920,443
	30	Total liabilities and net assets/fund balances (see instructions).	30,672,792	32,920,443

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

30,672,792

Enter amount from Part I, line 27a .....................

-5,833,846

Other increases not included in line 2 (itemize) bullet

8,081,526

Add lines 1, 2, and 3 ..........................

32,920,472

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

32,920,443

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	950 SHS AIRBUS SE UNSPON ADREA REPR 0.25 ORD EUR		2019-12-18	2020-10-16
b	2600 SHS AIRBUS SE UNSPON ADREA REPR 0.25 ORD EUR		2019-12-18	2020-11-09
c	100 SHS BOEING CO		2019-08-12	2020-04-01
d	300 SHS BOEING CO		2019-12-18	2020-04-01
e	500 SHS CARRIER GLOBAL CORPORATION COM		2019-12-18	2020-04-07
	200 SHS CARRIER GLOBAL CORPORATION COM		2019-12-18	2020-04-08
	200 SHS CARRIER GLOBAL CORPORATION COM		2020-03-10	2020-04-08
	800 SHS CHENIERE ENERGY INC		2019-05-21	2020-02-06
	1800 SHS CHENIERE ENERGY INC		2019-12-18	2020-02-06
	5750 SHS CISCO SYS INC		2019-12-18	2020-02-28
	1290 SHS CITIGROUP INC		2019-12-18	2020-09-16
	60 SHS CITIGROUP INC		2019-12-18	2020-06-30
	600 SHS DELTA AIRLINES INC		2019-12-18	2020-03-12
	350 SHS DELTA AIRLINES INC		2019-12-18	2020-04-01
	900 SHS DISNEY WALT CO		2019-12-18	2020-03-12
	50 SHS HONEYWELL INTERNATIONAL INC		2019-12-18	2020-07-17
	450 SHS LYONDELLBASELL INDUSTRIES N V		2019-12-18	2020-03-12
	700 SHS LYONDELLBASELL INDUSTRIES N V		2019-12-18	2020-04-21
	625 SHS MOTOROLA SOLUTIONS INC		2019-12-18	2020-08-03
	300 SHS MOTOROLA SOLUTIONS INC		2020-02-10	2020-08-03
	150 SHS MOTOROLA SOLUTIONS INC		2019-12-18	2020-08-04
	0.169 SHS OTIS WORLDWIDE CORP COM		2019-12-18	2020-04-07
	0.048 SHS OTIS WORLDWIDE CORP COM		2020-03-10	2020-04-07
	349.831 SHS OTIS WORLDWIDE CORP COM		2019-12-18	2020-04-08
	99.952 SHS OTIS WORLDWIDE CORP COM		2020-03-10	2020-04-08
	950 SHS PHILLIPS 66 COM		2019-12-18	2020-03-06
	1500 SHS PIONEER NATURAL RESOURCES CO		2019-12-18	2020-03-06
	2806 T-MOBILE US INC RTS EXP 07/27/2020		2020-06-26	2020-07-17
	1800 SHS VISTRA CORP COM		2019-12-18	2020-11-09
	1300 SHS VISTRA CORP COM		2019-06-07	2020-03-12
	2900 SHS VISTRA CORP COM		2019-12-04	2020-03-12
	1450 SHS VISTRA CORP COM		2019-12-18	2020-03-12
	2700 SHS ACTIVISION BLIZZARD INC		2017-01-27	2020-03-11
	1000 SHS ACTIVISION BLIZZARD INC		2018-05-01	2020-03-11
	600 SHS BOEING CO		2018-05-01	2020-04-01
	350 SHS CARRIER GLOBAL CORPORATION		2018-10-10	2020-04-08
	575 SHS CARRIER GLOBAL CORPORATION		2019-01-15	2020-04-08
	250 SHS CARRIER GLOBAL CORPORATION		2019-02-06	2020-04-08
	950 SHS CITIGROUP INC		2018-05-01	2020-09-16
	1300 SHS CITIGROUP INC		2016-09-27	2020-09-17
	1500 SHS CITIGROUP INC		2017-01-27	2020-09-17
	1300 SHS DELTA AIRLINES INC		2016-09-27	2020-04-01
	525 SHS DELTA AIRLINES INC		2016-10-11	2020-04-01
	2125 SHS DELTA AIRLINES INC		2017-01-27	2020-04-01
	1300 SHS LINCOLN NATIONAL CORP		2016-10-10	2020-02-28
	1000 SHS LYONDELLBASELL INDUSTRIES N V		2016-09-27	2020-04-21
	250 SHS L3HARRIS TECHNOLOGIES INC		2019-08-06	2020-11-09
	150 SHS L3HARRIS TECHNOLOGIES INC		2019-08-12	2020-11-09
	0.084 SHS OTIS WORLDWIDE CORP COM		2018-10-10	2020-04-07
	0.139 SHS OTIS WORLDWIDE CORP COM		2019-01-15	2020-04-07
	0.06 SHS OTIS WORLDWIDE CORP COM		2019-02-06	2020-04-07
	174.916 SHS OTIS WORLDWIDE CORP COM		2018-10-10	2020-04-08
	287.361 SHS OTIS WORLDWIDE CORP COM		2019-01-15	2020-04-08
	124.94 SHS OTIS WORLDWIDE CORP COM		2019-02-06	2020-04-08
	1300 SHS PHILLIPS 66 COM		2019-01-15	2020-03-12
	350 SHS PHILLIPS 66 COM		2019-03-11	2020-03-12
	1350 SHS AIRBUS SE UNSPON ADREA REPR 0.25 ORD EUR		2020-02-10	2020-10-16
	550 SHS AIRBUS SE UNSPON ADREA REPR 0.25 ORD EUR		2020-02-10	2020-11-09
	325 SHS BOEING CO		2019-09-20	2020-04-01
	350 SHS BOEING CO		2019-10-04	2020-04-01
	150 SHS BOEING CO		2019-10-15	2020-04-01
	100 SHS BOEING CO		2019-10-23	2020-04-01
	400 SHS BOEING CO		2019-11-05	2020-04-01
	1400 SHS CARLYLE GROUP INC		2019-10-23	2020-10-01
	2300 SHS CARLYLE GROUP INC		2019-11-05	2020-10-01
	450 SHS CARRIER GLOBAL CORPORATION COM		2019-09-20	2020-04-07
	250 SHS CARRIER GLOBAL CORPORATION COM		2019-10-23	2020-04-07
	450 SHS CARRIER GLOBAL CORPORATION COM		2019-09-20	2020-04-08
	1150 SHS CARRIER GLOBAL CORPORATION COM		2019-10-04	2020-04-08
	550 SHS CARRIER GLOBAL CORPORATION COM		2019-10-15	2020-04-08
	1500 SHS CHENIERE ENERGY INC		2019-09-20	2020-02-06
	1900 SHS CHENIERE ENERGY INC		2019-10-04	2020-02-06
	900 SHS CHENIERE ENERGY INC		2019-10-15	2020-02-06
	500 SHS CHENIERE ENERGY INC		2019-10-23	2020-02-06
	1729 SHS CISCO SYS INC		2019-09-20	2020-02-28
	671 SHS CISCO SYS INC		2019-10-04	2020-02-28
	2379 SHS CISCO SYS INC		2019-10-04	2020-02-28
	671 SHS CISCO SYS INC		2019-10-15	2020-02-28
	779 SHS CISCO SYS INC		2019-10-15	2020-02-28
	671 SHS CISCO SYS INC		2019-10-23	2020-02-28
	79 SHS CISCO SYS INC		2019-10-23	2020-02-28
	671 SHS CISCO SYS INC		2019-11-05	2020-02-28
	629 SHS CISCO SYS INC		2019-11-05	2020-02-28
	1400 SHS CITIGROUP INC		2019-09-20	2020-09-16
	1800 SHS CITIGROUP INC		2019-10-04	2020-09-16
	850 SHS CITIGROUP INC		2019-10-15	2020-09-16
	450 SHS CITIGROUP INC		2019-10-23	2020-09-16
	1900 SHS CITIGROUP INC		2019-11-05	2020-09-16
	195 SHS CITIGROUP INC		2020-02-10	2020-09-16
	705 SHS CITIGROUP INC		2020-02-10	2020-06-30
	900 SHS DELTA AIR LINES INC		2019-09-20	2020-03-12
	1100 SHS DELTA AIR LINES INC		2019-09-20	2020-04-01
	2550 SHS DELTA AIR LINES INC		2019-10-04	2020-04-01
	1200 SHS DELTA AIR LINES INC		2019-10-15	2020-04-01
	650 SHS DELTA AIR LINES INC		2019-10-23	2020-04-01
	1050 SHS DISNEY WALT CO		2019-09-20	2020-03-12
	100 SHS DISNEY WALT CO		2019-10-23	2020-03-12
	500 SHS DISNEY WALT CO		2019-11-05	2020-03-12
	1100 SHS LYONDELLBASELL INDUSTRIES N V		2019-09-20	2020-03-12
	200 SHS LYONDELLBASELL INDUSTRIES N V		2019-10-23	2020-03-12
	1400 SHS LYONDELLBASELL INDUSTRIES N V		2019-10-04	2020-04-21
	650 SHS LYONDELLBASELL INDUSTRIES N V		2019-10-15	2020-04-21
	100 SHS LYONDELLBASELL INDUSTRIES N V		2019-10-23	2020-04-21
	20 SHS MOTOROLA SOLUTIONS INC		2019-09-20	2020-08-03
	500 SHS MOTOROLA SOLUTIONS INC		2019-10-15	2020-08-03
	250 SHS MOTOROLA SOLUTIONS INC		2019-10-23	2020-08-03
	400 SHS MOTOROLA SOLUTIONS INC		2020-02-10	2020-08-03
	195 SHS MOTOROLA SOLUTIONS INC		2019-09-20	2020-08-04
	850 SHS ORACLE CORP		2019-10-15	2020-03-12
	450 SHS OTIS WORLDWIDE CORP		2019-09-20	2020-04-08
	575 SHS OTIS WORLDWIDE CORP		2019-10-04	2020-04-08
	275 SHS OTIS WORLDWIDE CORP		2019-10-15	2020-04-08
	125 SHS OTIS WORLDWIDE CORP		2019-10-23	2020-04-08
	1000 SHS PHILLIPS 66 COM		2019-09-20	2020-03-06
	1300 SHS PHILLIPS 66 COM		2019-10-04	2020-03-06
	600 SHS PHILLIPS 66 COM		2019-10-15	2020-03-06
	300 SHS PHILLIPS 66 COM		2019-10-23	2020-03-06
	950 SHS PIONEER NATURAL RESOURCES CO		2019-10-04	2020-03-06
	450 SHS PIONEER NATURAL RESOURCES CO		2019-10-15	2020-03-06
	5400 SHS SHIFT4 PMTS INC CL A		2020-06-05	2020-06-05
	4250 SHS T-MOBILE US INC RTS EXP 07/27/2020		2020-06-26	2020-07-17
	1300 SHS VISTRA ENERGY CORP		2019-09-20	2020-03-12
	2250 SHS VISTRA ENERGY CORP		2019-10-15	2020-03-12
	1150 SHS VISTRA ENERGY CORP		2019-10-23	2020-03-12
	850 SHS AIRBUS SE UNSPON ADREA REPR 0.25 ORD EUR		2019-10-23	2020-11-09
	2150 SHS CARLYLE GROUP INC		2019-09-20	2020-10-01
	52 SHS CISCO SYS INC		2016-08-09	2020-02-28
	170 SHS CISCO SYS INC		2016-09-06	2020-02-28
	149 SHS CISCO SYS INC		2016-10-05	2020-02-28
	161 SHS CISCO SYS INC		2017-01-05	2020-02-28
	93 SHS CISCO SYS INC		2017-07-27	2020-02-28
	46 SHS CISCO SYS INC		2018-05-04	2020-02-28
	500 SHS L3HARRIS TECHNOLOGIES INC		2019-09-20	2020-11-09
	2200 SHS VISTRA CORP		2019-09-20	2020-11-09
	12 SHS AIR PRODUCTS & CHEM		2019-10-23	2020-07-27
	455 SHS AT&T INC COM		2019-10-23	2020-08-18
	38 SHS BOEING CO COM		2019-10-23	2020-04-06
	67 SHS CARRIER GLOBAL CORPORATION		2019-10-23	2020-04-06
	58 SHS CARRIER GLOBAL CORPORATION		2020-03-09	2020-04-06
	455 SHS CISCO SYSTEMS INC		2019-10-23	2020-08-18
	359 SHS COCA COLA CO		2019-10-23	2020-04-17
	53 SHS DELTA AIR LINES		2019-10-23	2020-01-31
	201 SHS DELTA AIR LINES		2019-10-23	2020-03-12
	79 SHS DISNEY WALT CO		2019-10-23	2020-03-12
	16 SHS ELI LILLY AND CO		2019-10-23	2020-01-31
	51 SHS GENERAL DYNAMICS CORP		2019-10-23	2020-01-31
	46 SHS GENERAL DYNAMICS CORP		2019-10-23	2020-04-17
	4 SHS JOHNSON & JOHNSON		2019-10-23	2020-01-31
	807 SHS KINDER MORGAN INC		2019-10-23	2020-03-09
	38 SHS LYONDELLBASELL INDUSTRIES N V		2019-10-23	2020-01-31
	147 SHS LYONDELLBASELL INDUSTRIES N V		2019-10-23	2020-04-22
	58 SHS MCDONALDS CORP		2019-10-23	2020-04-17
	17 SHS MICROSOFT CORP		2019-10-23	2020-01-31
	27 SHS MOTOROLA SOLUTIONS INC		2019-10-23	2020-01-31
	16 SHS NEXTERA ENERGY INC		2019-10-23	2020-01-31
	55 SHS NISOURCE INC		2019-10-23	2020-01-31
	620 SHS NISOURCE INC		2019-10-23	2020-05-19
	272 SHS ONEOK INC		2019-10-23	2020-03-09
	55 SHS ONEOK INC		2020-01-31	2020-03-09
	0.268 SHS OTIS WORLDWIDE CORP		2019-10-23	2020-04-07
	0.232 SHS OTIS WORLDWIDE CORP		2020-03-09	2020-04-07
	33.232 SHS OTIS WORLDWIDE CORP		2019-10-23	2020-04-17
	28.768 SHS OTIS WORLDWIDE CORP		2020-03-09	2020-04-17
	175 SHS PHILLIPS 66 COM		2019-10-23	2020-03-09
	38 SHS PHILLIPS 66 COM		2020-01-31	2020-03-09
	458 SHS REDWOOD TRUST INC		2020-02-03	2020-03-18
	333 SHS ROYAL DUTCH SHELL ADR EA REP 2 CL A EURO		2019-10-23	2020-01-31
	794 SHS STATE STR CORP DEP SHS REPSTG 1 5.25%		2019-10-23	2020-03-16
	66 SHS STATE STR CORP DEP SHS REPSTG 1 5.25%		2020-01-31	2020-03-16
	8 SHS THERMO FISHER SCIENTIFIC INC		2019-10-23	2020-01-31
	26 SHS TRAVELERS COMPANIES INC		2019-10-23	2020-01-31
	346 SHS TRUIST FINL CORP DEPPFD SER H 5.625%		2019-10-23	2020-05-26
	61 SHS TRUIST FINL CORP DEPPFD SER H 5.625%		2020-01-31	2020-05-26
	406 SHS WELLS FARGO & CO NEWDEP SHS REPSTG 1/100		2019-10-23	2020-05-26
	100 SHS WEYERHAEUSER CO		2019-10-23	2020-01-31
	548 SHS WEYERHAEUSER CO		2019-10-23	2020-05-14
	411 SHS WILLIAMS COMPANIES INC		2019-10-23	2020-01-31
	212 SHS ADYEN N V UNSPONSRED ADR		2020-01-14	2020-11-12
	35 SHS ALIBABA GROUP HLDG LTD		2020-01-14	2020-02-10
	19 SHS ALIBABA GROUP HLDG LTD		2020-01-14	2020-02-21
	150 SHS ALIBABA GROUP HLDG LTD		2020-01-14	2020-07-06
	60 SHS AMDOCS LIMITED ORD		2020-01-14	2020-06-05
	30 SHS AMDOCS LIMITED ORD		2020-01-14	2020-06-08
	35 SHS AMDOCS LIMITED ORD		2020-01-14	2020-06-17
	29 SHS AMDOCS LIMITED ORD		2020-01-14	2020-06-18
	51 SHS AMDOCS LIMITED ORD		2020-01-14	2020-06-22
	45 SHS AMDOCS LIMITED ORD		2020-01-14	2020-07-02
	51 SHS AMDOCS LIMITED ORD		2020-01-14	2020-07-06
	3 SHS AMDOCS LIMITED ORD		2020-01-14	2020-07-07
	28 SHS AMDOCS LIMITED ORD		2020-01-14	2020-07-07
	25 SHS ASML HOLDING NV NY REG NEW		2020-01-14	2020-02-24
	104 SHS ASOS PLC		2020-01-14	2020-01-21
	50 SHS ASOS PLC		2020-01-14	2020-01-22
	44 SHS ASOS PLC		2020-01-14	2020-01-29
	43 SHS ASOS PLC		2020-01-14	2020-02-05
	38 SHS ASOS PLC		2020-01-14	2020-02-10
	40 SHS BECTON DICKINSON & CO		2020-01-14	2020-07-06
	8 SHS BURBERRY GROUP PLC SPONS ADR		2020-01-14	2020-01-17
	142 SHS BURBERRY GROUP PLC SPONS ADR		2020-01-14	2020-01-17
	233 SHS BURBERRY GROUP PLC SPONS ADR		2020-01-14	2020-01-21
	531 SHS CISCO SYS INC		2020-01-14	2020-03-24
	517 SHS CISCO SYS INC		2020-01-14	2020-04-16
	5 SHS CISCO SYS INC		2020-01-14	2020-08-27
	522 SHS CISCO SYS INC		2020-01-14	2020-08-27
	6 SHS CISCO SYS INC		2020-07-06	2020-08-27
	773 SHS CREDIT AGRICOLE SA UNSP ADR		2020-01-14	2020-05-15
	1939 SHS CREDIT AGRICOLE SA UNSP ADR		2020-01-14	2020-05-20
	115 SHS CVS HEALTH CORP COM		2020-01-14	2020-11-16
	126 SHS CVS HEALTH CORP COM		2020-01-14	2020-11-30
	26 SHS CVS HEALTH CORP COM		2020-07-06	2020-11-30
	311 SHS DUPONT DE NEMOURS INC		2020-01-14	2020-03-12
	254 SHS EDP ENERGIAS DE PORTGUAL SA		2020-04-09	2020-08-20
	76 SHS EDP ENERGIAS DE PORTGUAL SA		2020-05-15	2020-08-20
	85 SHS EDP ENERGIAS DE PORTGUAL SA		2020-06-17	2020-08-20
	63 SHS SHS EDP ENERGIAS DE PORTGUAL SA		2020-06-09	2020-08-20
	4 SHS SHS EDP ENERGIAS DE PORTGUAL SA		2020-07-06	2020-08-20
	252 SHS EPIROC AKTIEBOLAG ADR		2020-07-06	2020-04-03
	105 SHS EPIROC AKTIEBOLAG ADR		2020-07-07	2020-05-07
	201 SHS EPIROC AKTIEBOLAG ADR		2020-07-08	2020-05-08
	205 SHS EPIROC AKTIEBOLAG ADR		2020-07-09	2020-05-15
	309 SHS EPIROC AKTIEBOLAG ADR		2020-07-10	2020-05-22
	114 SHS EPIROC AKTIEBOLAG ADR		2020-07-11	2020-05-28
	226 SHS EPIROC AKTIEBOLAG ADR		2020-07-12	2020-05-29
	230 SHS ERSTE GROUP BANK AG SPONS ADR		2020-07-12	2020-10-02
	131 SHS ERSTE GROUP BANK AG SPONS ADR		2020-07-13	2020-10-12
	109 SHS ERSTE GROUP BANK AG SPONS ADR		2020-07-14	2020-10-13
	190 SHS ERSTE GROUP BANK AG SPONS ADR		2020-07-15	2020-10-27
	156 SHS ERSTE GROUP BANK AG SPONS ADR		2020-07-16	2020-11-05
	35 SHS ERSTE GROUP BANK AG SPONS ADR		2020-07-17	2020-11-06
	117 SHS GIVAUDAN SA ADR		2020-07-17	2020-02-05
	142 SHS GIVAUDAN SA ADR		2020-07-18	2020-04-29
	20 SHS GIVAUDAN SA ADR		2020-07-19	2020-04-30
	1 SHS HDFC BANK LTD ADR		2020-07-19	2020-03-09
	76 SHS HDFC BANK LTD ADR		2020-07-20	2020-03-09
	106 SHS HDFC BANK LTD ADR		2020-07-21	2020-03-12
	86 SHS HDFC BANK LTD ADR		2020-07-22	2020-03-20
	88 SHS HDFC BANK LTD ADR		2020-07-23	2020-03-23
	56 SHS HEXAGON AB ADR		2020-07-23	2020-04-03
	45 SHS ICON PLC		2020-01-14	2020-05-28
	7 SHS ICON PLC		2020-01-14	2020-05-29
	20 SHS ICON PLC		2020-01-14	2020-06-18
	12 SHS ICON PLC		2020-01-14	2020-06-19
	23 SHS ICON PLC		2020-01-14	2020-06-22
	19 SHS ICON PLC		2020-01-14	2020-09-25
	244 SHS KBC GROUP NV UNSPONS ADR		2020-01-14	2020-03-09
	133 SHS KBC GROUP NV UNSPONS ADR		2020-01-14	2020-03-20
	11 SHS KINDER MORGAN INCORP		2020-01-14	2020-11-09
	1309 SHS KINDER MORGAN INCORP		2020-01-14	2020-11-09
	124 SHS L OREAL CO ADR		2020-01-14	2020-02-03
	1 SHS LINDE PLC		2020-01-14	2020-09-18
	24 SHS LINDE PLC		2020-01-14	2020-09-18
	95 SHS METLIFE INCORPORATED		2020-01-14	2020-03-20
	502 SHS METLIFE INCORPORATED		2020-01-14	2020-03-24
	49 SHS METLIFE INCORPORATED		2020-03-17	2020-03-24
	138 SHS MONOTARO CO LTD ADR		2020-01-14	2020-12-03
	2 SHS MONOTARO CO LTD ADR		2020-07-06	2020-12-03
	301 SHS NIDEC CORP		2020-01-14	2020-11-09
	210 SHS NIDEC CORP		2020-01-14	2020-12-02
	92 SHS NOVARTIS AG ADR		2020-01-14	2020-09-18
	228 SHS ORACLE CORP		2020-01-14	2020-02-13
	138 SHS RENTOKIL GROUP PLC SP ADR		2020-01-14	2020-10-02
	102 SHS ROCHE HOLDINGS ADR		2020-01-14	2020-09-18
	48 SHS ROCHE HOLDINGS ADR		2020-02-11	2020-09-18
	84 SHS ROCHE HOLDINGS ADR		2020-01-14	2020-10-02
	122 SHS ROCHE HOLDINGS ADR		2020-01-14	2020-12-01
	4 SHS ROGERS COMM INC CL B		2020-01-14	2020-06-29
	88 SHS ROGERS COMM INC CL B		2020-01-14	2020-06-29
	88 SHS ROGERS COMM INC CL B		2020-01-14	2020-07-02
	195 SHS ROGERS COMM INC CL B		2020-01-14	2020-07-08
	93 SHS ROGERS COMM INC CL B		2020-01-14	2020-07-09
	31 SHS SAP AG		2020-01-14	2020-06-03
	92 SHS SAP AG		2020-01-14	2020-07-09
	47 SHS SAP AG		2020-01-14	2020-09-08
	25 SHS SAP AG		2020-01-14	2020-10-02
	13 SHS SAP AG		2020-01-14	2020-10-20
	79 SHS SAP AG		2020-01-14	2020-11-06
	39 SHS SAP AG		2020-01-14	2020-11-12
	1 SHS SAP AG		2020-01-14	2020-11-17
	110 SHS SAP AG		2020-01-14	2020-11-17
	20 SHS SHISEIDO LTD SPON ADR		2020-01-14	2020-02-03
	2 SHS SHISEIDO LTD SPON ADR		2020-01-14	2020-03-13
	90 SHS SHISEIDO LTD SPON ADR		2020-01-14	2020-03-13
	80 SHS SHISEIDO LTD SPON ADR		2020-01-14	2020-11-13
	53 SHS SHISEIDO LTD SPON ADR		2020-01-14	2020-11-18
	38 SHS SHISEIDO LTD SPON ADR		2020-01-14	2020-12-23
	8 SHS SHOPIFY INC		2020-01-14	2020-02-21
	3 SHS SHOPIFY INC		2020-01-14	2020-02-24
	114 SHS SOCIEDAD QUIMICA Y MINERA ADS		2020-01-14	2020-12-02
	42 SHS SOCIEDAD QUIMICA Y MINERA ADS		2020-01-14	2020-12-29
	26 SHS SOCIEDAD QUIMICA Y MINERA ADS		2020-01-14	2020-12-30
	21 SHS SOCIEDAD QUIMICA Y MINERA ADS		2020-01-14	2020-12-31
	17 SHS SOLAREDGE TECHNOLOGIES INC		2020-07-08	2020-10-08
	13 SHS SOLAREDGE TECHNOLOGIES INC		2020-07-08	2020-10-20
	35 SHS SPOTIFY TECHNOLOGY SA		2020-01-14	2020-06-03
	106 SHS STONECO LTD CL A		2020-01-14	2020-12-22
	53 SHS STONECO LTD CL A		2020-08-13	2020-12-22
	339 SHS TECHNOPRO HLDGS INC ADR		2020-01-14	2020-10-07
	140 SHS TECHNOPRO HLDGS INC ADR		2020-01-14	2020-10-09
	154 SHS TECHNOPRO HLDGS INC ADR		2020-01-14	2020-10-13
	144 SHS TECHNOPRO HLDGS INC ADR		2020-01-14	2020-11-06
	121 SHS TECHNOPRO HLDGS INC ADR		2020-01-14	2020-11-13
	133 SHS TECHNOPRO HLDGS INC ADR		2020-01-14	2020-11-18
	244 SHS TECHNOPRO HLDGS INC ADR		2020-01-14	2020-11-24
	370 SHS TENCENT HLDGS LTD UNSPON ADR		2020-06-23	2020-11-13
	6 SHS TENCENT HLDGS LTD UNSPON ADR		2020-07-06	2020-11-13
	44 SHS TENCENT HLDGS LTD UNSPON ADR		2020-10-27	2020-11-13
	307 SHS UMICORE SA ADR		2020-01-14	2020-02-10
	1 SHS UNILEVER NV NY SH NEW		2020-01-14	2020-11-20
	335 SHS UNILEVER NV NY SH NEW		2020-01-14	2020-11-20
	7 SHS UNILEVER NV NY SH NEW		2020-07-06	2020-11-20
	63 SHS UNITED PARCEL SER INC CL-B		2020-01-14	2020-04-29
	0.271 SHS VIATRIS INC		2020-01-14	2020-11-17
	29 SHS WALT DISNEY CO HLDG CO		2020-01-14	2020-04-07
	95 SHS WALT DISNEY CO HLDG CO		2020-01-14	2020-04-08
	52 SHS WALT DISNEY CO HLDG CO		2020-01-14	2020-04-14
	55 SHS WALT DISNEY CO HLDG CO		2020-01-14	2020-04-23
	58 SHS WALT DISNEY CO HLDG CO		2020-01-14	2020-05-13
	DISPOSITION OF PROGRAM RELATED INVESTMENT - UNIVERSITE LAVAL	P	2019-11-20	2020-12-31
	CAPITAL GAINS DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	17,731	34,449	-16,718
b	62,388	94,280	-31,892
c	13,960	33,285	-19,325
d	41,879	99,476	-57,597
e	7,601	13,845	-6,244
	2,789	5,538	-2,749
	2,789	4,473	-1,684
	45,891	53,710	-7,819
	103,255	111,138	-7,883
	227,257	266,825	-39,568
	59,362	100,422	-41,060
	3,046	4,671	-1,625
	22,288	35,300	-13,012
	8,886	20,591	-11,705
	84,903	132,181	-47,278
	7,727	8,789	-1,062
	20,965	42,398	-21,433
	32,510	65,953	-33,443
	86,484	100,968	-14,484
	41,513	53,778	-12,265
	20,610	24,232	-3,622
	7	13	-6
	2	3	-1
	14,828	27,092	-12,264
	4,236	6,252	-2,016
	66,051	107,768	-41,717
	167,106	217,763	-50,657
	383	730	-347
	34,343	43,500	-9,157
	22,598	31,962	-9,364
	50,411	73,778	-23,367
	25,206	35,042	-9,836
	161,082	106,899	54,183
	59,660	66,940	-7,280
	83,758	195,988	-112,230
	4,881	8,650	-3,769
	8,019	11,839	-3,820
	3,486	5,677	-2,191
	43,716	64,224	-20,508
	59,260	59,885	-625
	68,377	85,619	-17,242
	33,005	50,265	-17,260
	13,329	20,446	-7,117
	53,951	108,267	-54,316
	59,463	64,071	-4,608
	46,442	76,795	-30,353
	46,753	51,039	-4,286
	28,052	31,442	-3,390
	4	6	-2
	6	8	-2
	3	4	-1
	7,414	12,089	-4,675
	12,180	16,548	-4,368
	5,296	7,934	-2,638
	64,999	119,775	-54,776
	17,500	33,768	-16,268
	25,196	50,323	-25,127
	13,198	20,502	-7,304
	45,369	124,220	-78,851
	48,859	131,287	-82,428
	20,939	55,861	-34,922
	13,960	34,048	-20,088
	55,838	143,264	-87,426
	34,764	38,023	-3,259
	57,113	63,851	-6,738
	6,841	11,582	-4,741
	3,800	6,533	-2,733
	6,276	11,582	-5,306
	16,038	28,583	-12,545
	7,670	14,072	-6,402
	86,046	99,799	-13,753
	108,992	117,678	-8,686
	51,628	56,863	-5,235
	28,682	32,025	-3,343
	68,335	85,103	-16,768
	26,520	31,567	-5,047
	94,025	111,920	-17,895
	26,520	31,157	-4,637
	30,788	36,172	-5,384
	26,520	31,623	-5,103
	3,122	3,723	-601
	26,520	31,977	-5,457
	24,860	29,976	-5,116
	64,423	97,813	-33,390
	82,830	121,761	-38,931
	39,114	60,208	-21,094
	20,708	32,452	-11,744
	87,432	142,534	-55,102
	8,973	15,264	-6,291
	35,793	55,186	-19,393
	33,432	52,914	-19,482
	27,927	64,672	-36,745
	64,741	137,020	-72,279
	30,466	64,012	-33,546
	16,503	35,008	-18,505
	99,054	138,684	-39,630
	9,434	13,134	-3,700
	47,169	66,007	-18,838
	79,831	97,797	-17,966
	14,515	17,644	-3,129
	65,019	119,259	-54,240
	30,187	56,965	-26,778
	4,644	8,822	-4,178
	2,768	3,375	-607
	69,188	84,606	-15,418
	34,594	42,192	-7,598
	55,350	71,704	-16,354
	26,793	32,906	-6,113
	35,528	48,096	-12,568
	19,073	32,391	-13,318
	24,371	39,969	-15,598
	11,656	19,678	-8,022
	5,298	9,136	-3,838
	69,528	103,442	-33,914
	90,386	130,110	-39,724
	41,717	64,374	-22,657
	20,858	32,578	-11,720
	105,834	118,421	-12,587
	50,132	58,421	-8,289
	175,777	124,200	51,577
	713	1,105	-392
	22,598	35,029	-12,431
	39,112	60,771	-21,659
	19,991	31,042	-11,051
	20,396	28,397	-8,001
	53,388	56,744	-3,356
	2,055	1,606	449
	6,719	5,408	1,311
	5,889	4,713	1,176
	6,363	4,854	1,509
	3,676	2,914	762
	1,818	2,073	-255
	93,505	107,129	-13,624
	41,975	59,281	-17,306
	3,542	2,524	1,018
	13,567	17,315	-3,748
	5,203	12,938	-7,735
	1,059	1,751	-692
	917	1,260	-343
	19,077	21,443	-2,366
	17,232	19,514	-2,282
	2,968	2,855	113
	7,467	10,826	-3,359
	7,453	10,376	-2,923
	2,239	1,682	557
	8,954	8,973	-19
	6,334	8,093	-1,759
	596	519	77
	13,057	15,991	-2,934
	2,996	3,352	-356
	7,066	12,968	-5,902
	10,660	11,609	-949
	2,898	2,313	585
	4,787	4,557	230
	4,270	3,790	480
	1,594	1,555	39
	14,382	17,531	-3,149
	10,867	18,697	-7,830
	2,197	4,083	-1,886
	12	20	-8
	10	14	-4
	1,560	2,429	-869
	1,350	1,748	-398
	11,031	19,004	-7,973
	2,395	3,441	-1,046
	2,808	7,911	-5,103
	17,350	19,766	-2,416
	19,850	20,346	-496
	1,650	1,703	-53
	2,508	2,370	138
	3,433	3,421	12
	8,764	9,284	-520
	1,545	1,658	-113
	10,334	10,532	-198
	2,824	2,924	-100
	9,431	16,022	-6,591
	8,505	9,445	-940
	8,219	3,604	4,615
	7,506	7,922	-416
	4,042	4,300	-258
	35,954	33,950	2,004
	3,822	4,356	-534
	1,948	2,178	-230
	2,192	2,541	-349
	1,785	2,105	-320
	3,103	3,702	-599
	2,719	3,267	-548
	3,045	3,702	-657
	177	218	-41
	1,650	2,033	-383
	7,302	7,570	-268
	4,017	4,513	-496
	1,983	2,170	-187
	1,736	1,910	-174
	1,851	1,866	-15
	1,688	1,649	39
	9,995	10,717	-722
	245	241	4
	4,340	4,276	64
	6,827	7,016	-189
	19,624	25,426	-5,802
	21,348	24,755	-3,407
	211	239	-28
	22,066	24,995	-2,929
	254	278	-24
	2,820	5,528	-2,708
	7,384	13,867	-6,483
	8,423	8,438	-15
	8,526	9,245	-719
	1,759	1,688	71
	10,530	18,710	-8,180
	291		291
	87		87
	97		97
	72		72
	5		5
	2,292	3,163	-871
	1,044	1,318	-274
	2,073	2,523	-450
	2,033	2,573	-540
	3,162	3,878	-716
	1,267	1,431	-164
	2,486	2,836	-350
	2,389	4,394	-2,005
	1,370	2,503	-1,133
	1,114	2,083	-969
	1,999	3,630	-1,631
	1,655	2,981	-1,326
	373	669	-296
	7,790	7,310	480
	9,438	8,872	566
	1,332	1,250	82
	49	63	-14
	3,758	4,773	-1,015
	4,734	6,657	-1,923
	3,139	5,401	-2,262
	2,679	5,526	-2,847
	2,204	3,163	-959
	7,458	7,666	-208
	1,166	1,193	-27
	3,175	3,407	-232
	1,935	2,044	-109
	3,655	3,918	-263
	3,427	3,237	190
	7,615	9,172	-1,557
	3,335	5,000	-1,665
	135	223	-88
	16,038	26,541	-10,503
	6,979	7,283	-304
	247	211	36
	5,938	5,052	886
	2,351	3,621	-1,270
	13,414	26,290	-12,876
	1,309	2,736	-1,427
	8,092	3,531	4,561
	117	83	34
	8,300	5,333	2,967
	6,594	3,721	2,873
	8,372	8,688	-316
	12,614	12,538	76
	4,838	4,112	726
	4,798	4,201	597
	2,258	2,089	169
	3,621	3,459	162
	5,057	5,024	33
	160	199	-39
	3,529	4,382	-853
	3,577	4,382	-805
	7,667	9,709	-2,042
	3,603	4,630	-1,027
	4,123	4,269	-146
	14,053	12,671	1,382
	7,361	6,473	888
	3,865	3,443	422
	1,969	1,790	179
	9,119	10,880	-1,761
	4,608	5,371	-763
	117	138	-21
	12,872	15,150	-2,278
	1,256	1,431	-175
	108	165	-57
	4,870	6,529	-1,659
	5,430	5,804	-374
	3,677	3,845	-168
	2,583	2,757	-174
	4,151	3,508	643
	1,471	1,316	155
	5,267	3,547	1,720
	2,022	1,307	715
	1,277	809	468
	1,036	653	383
	4,921	2,606	2,315
	4,045	1,993	2,052
	6,495	5,212	1,283
	9,049	4,392	4,657
	4,524	2,595	1,929
	4,314	4,671	-357
	1,870	1,929	-59
	2,060	2,122	-62
	1,960	1,984	-24
	1,653	1,667	-14
	1,952	1,833	119
	3,957	3,362	595
	28,309	23,543	4,766
	459	407	52
	3,367	3,365	2
	3,647	3,705	-58
	59	56	3
	19,723	18,747	976
	412	376	36
	5,997	7,412	-1,415
	5	5	0
	2,963	2,963	0
	9,593	13,588	-3,995
	5,452	7,559	-2,107
	5,581	7,995	-2,414
	6,021	8,432	-2,411
			0
	343		343

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			-16,718
b			-31,892
c			-19,325
d			-57,597
e			-6,244
			-2,749
			-1,684
			-7,819
			-7,883
			-39,568
			-41,060
			-1,625
			-13,012
			-11,705
			-47,278
			-1,062
			-21,433
			-33,443
			-14,484
			-12,265
			-3,622
			-6
			-1
			-12,264
			-2,016
			-41,717
			-50,657
			-347
			-9,157
			-9,364
			-23,367
			-9,836
			54,183
			-7,280
			-112,230
			-3,769
			-3,820
			-2,191
			-20,508
			-625
			-17,242
			-17,260
			-7,117
			-54,316
			-4,608
			-30,353
			-4,286
			-3,390
			-2
			-2
			-1
			-4,675
			-4,368
			-2,638
			-54,776
			-16,268
			-25,127
			-7,304
			-78,851
			-82,428
			-34,922
			-20,088
			-87,426
			-3,259
			-6,738
			-4,741
			-2,733
			-5,306
			-12,545
			-6,402
			-13,753
			-8,686
			-5,235
			-3,343
			-16,768
			-5,047
			-17,895
			-4,637
			-5,384
			-5,103
			-601
			-5,457
			-5,116
			-33,390
			-38,931
			-21,094
			-11,744
			-55,102
			-6,291
			-19,393
			-19,482
			-36,745
			-72,279
			-33,546
			-18,505
			-39,630
			-3,700
			-18,838
			-17,966
			-3,129
			-54,240
			-26,778
			-4,178
			-607
			-15,418
			-7,598
			-16,354
			-6,113
			-12,568
			-13,318
			-15,598
			-8,022
			-3,838
			-33,914
			-39,724
			-22,657
			-11,720
			-12,587
			-8,289
			51,577
			-392
			-12,431
			-21,659
			-11,051
			-8,001
			-3,356
			449
			1,311
			1,176
			1,509
			762
			-255
			-13,624
			-17,306
			1,018
			-3,748
			-7,735
			-692
			-343
			-2,366
			-2,282
			113
			-3,359
			-2,923
			557
			-19
			-1,759
			77
			-2,934
			-356
			-5,902
			-949
			585
			230
			480
			39
			-3,149
			-7,830
			-1,886
			-8
			-4
			-869
			-398
			-7,973
			-1,046
			-5,103
			-2,416
			-496
			-53
			138
			12
			-520
			-113
			-198
			-100
			-6,591
			-940
			4,615
			-416
			-258
			2,004
			-534
			-230
			-349
			-320
			-599
			-548
			-657
			-41
			-383
			-268
			-496
			-187
			-174
			-15
			39
			-722
			4
			64
			-189
			-5,802
			-3,407
			-28
			-2,929
			-24
			-2,708
			-6,483
			-15
			-719
			71
			-8,180
			291
			87
			97
			72
			5
			-871
			-274
			-450
			-540
			-716
			-164
			-350
			-2,005
			-1,133
			-969
			-1,631
			-1,326
			-296
			480
			566
			82
			-14
			-1,015
			-1,923
			-2,262
			-2,847
			-959
			-208
			-27
			-232
			-109
			-263
			190
			-1,557
			-1,665
			-88
			-10,503
			-304
			36
			886
			-1,270
			-12,876
			-1,427
			4,561
			34
			2,967
			2,873
			-316
			76
			726
			597
			169
			162
			33
			-39
			-853
			-805
			-2,042
			-1,027
			-146
			1,382
			888
			422
			179
			-1,761
			-763
			-21
			-2,278
			-175
			-57
			-1,659
			-374
			-168
			-174
			643
			155
			1,720
			715
			468
			383
			2,315
			2,052
			1,283
			4,657
			1,929
			-357
			-59
			-62
			-24
			-14
			119
			595
			4,766
			52
			2
			-58
			3
			976
			36
			-1,415
			0
			0
			-3,995
			-2,107
			-2,414
			-2,411
			0
			343

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-2,274,684
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 ...................		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

Reserved...........................

Reserved,..........................

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	1,530
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	1,530
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	1,530
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	4,998
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	4,998
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.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	3,468
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax3,468	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

DE, DC

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 . Click to see attachment

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2020)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

WWW.SAUL-FOUNDATION.ORG

The books are in care of bullet

CATHERINE DUNAND Telephone no. bullet

(202) 585-8188

Located at bullet

799 9TH STREET NW SUITE 500WASHINGTONDC ZIP+4 bullet

200015327

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

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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?...............YesNo

(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.).......YesNo

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 ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

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?.............

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)):

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?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

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.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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?

Form 990-PF (2020)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

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 ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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? .................YesNo

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
CATHERINE DUNAND	PRESIDENT & TREASURER 15.00	0	0	0
SAUL FOUNDATION C/O NIXON PEABODY LLP 799 9TH STREET NW SUITE 500 WASHINGTON,DC200015327	PRESIDENT & TREASURER 15.00	0	0	0
LILIANE LAROCHE	DIRECTOR 0.00	0	0	0
SAUL FOUNDATION C/O NIXON PEABODY LLP 799 9TH STREET NW SUITE 500 WASHINGTON,DC200015327	DIRECTOR 0.00	0	0	0
FRANCOIS JACQUEMIN-VERGUET	DIRECTOR 0.00	0	0	0
SAUL FOUNDATION C/O NIXON PEABODY LLP 799 9TH STREET NW SUITE 500 WASHINGTON,DC200015327	DIRECTOR 0.00	0	0	0

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...................				0

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
NEUBERGER BERMAN BD LLC	INVESTMENT CUSTODIAN SERVICES	228,445
1290 AVENUE OF THE AMERICAS NEW YORK,NY10104	INVESTMENT CUSTODIAN SERVICES	228,445
PROMONTOIRES SAS	CONSULTING FEE	117,324
BANQUE PALATINE 12 AVENUE DE MATIGNON PARIS 75008 FR	CONSULTING FEE	117,324
SIMON-KUCHER & PARTNERS	CONSULTING FEE	109,198
52 BOULEVARD MARCEL CAHEN LUXEMBOURG 1311 LU	CONSULTING FEE	109,198
FREEDMAN & CO CPA PC	ACCOUNTING SERVICES, TAX RETURN AND FINANCIAL STATEMENTS PREPARATIONS	79,975
61 BROADWAY SUITE 1602 NEW YORK,NY10006		79,975
NIXON PEABODY LLP	LEGAL	60,182
404 9TH STREET NW SUITE 900 WASHINGTON,DC20004	LEGAL	60,182

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2020)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

28,826,915

Average of monthly cash balances.......................

593,674

Fair market value of all other assets (see instructions)................

17,307

Total (add lines 1a, b, and c).........................

29,437,896

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

29,437,896

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

441,568

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

28,996,328

Minimum investment return. Enter 5% of line 5..................

1,449,816

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.)

Minimum investment return from Part X, line 6....................

1,449,816

Tax on investment income for 2020 from Part VI, line 5......

1,530

Income tax for 2020. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

1,530

Distributable amount before adjustments. Subtract line 2c from line 1............

1,448,286

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

1,448,286

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

1,448,286

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

1,725,300

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

1,725,300

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.................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

1,725,300

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)

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				1,448,286
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......			1,218,468
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: $ 1,725,300
a Applied to 2019, but not more than line 2a			1,218,468
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.....				506,832
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 ..........				941,454
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)

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 section4942(j)(3) or4942(j)(5)

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	(e) Total

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

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)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
THE CLEAR FUND GIVEWELL 1714 FRANKLIN STREET 100335 OAKLAND,CA94612	NONE	PC	CHARITABLE FOR DEVELOPMENT MEDIA INTERNATIONAL PROJECTS	250,000
GYNUITY INSTITUTE INC 220 EAST 42ND STREET NUMBER 710 NEW YORK,NY10017	NONE	PC	CHARITABLE	150,000
IBIS REPRODUCTIVE HEALTH INC 2067 MASSACHUSETTS AVENUE SUITE 320 CAMBRIDGE,MA02140	NONE	PC	CHARITABLE	519,367
UNIVERSITE LAVAL 2325 RUE DE L UNIVERSITE QUEBEC GIV 0A6 CA	NONE	FORGN	CHARITABLE	92,615
CAMBRIDGE REPRODUCTIVE HEALTH CONSULTANTS 98 ELECTRIC AVE STE 1 SOMERVILLE,MA02144	NONE	PC	CHARITABLE FOR WOMEN'S WALLET PROJECT	300,000
Total ................................. 3a				1,311,982

bApproved for future payment

Total ................................. 3b				0

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........			14	2
4 Dividends and interest from securities....			14	388,349
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	1,885	29,418
8 Gain or (loss) from sales of assets other than inventory ............			18	-2,274,684	-1,950,000
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		-1,884,448	-1,920,582

13Total. Add line 12, columns (b), (d), and (e)..................

-3,805,030

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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.)
7	INCOME REPORTED IN COLUMN E REPRESENTS RETURN OF CAPITAL AND ACCRUED INCOME FROM THE INVESTMENTS.
8	LOSS REPORTED IN COLUMN E REPRESENTS CAPITAL LOSS OF PROGRAM-RELATED INVESTMENT.

Form 990-PF (2020)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

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
INSTITUT CURIE	26 RUE DULM 75248 PARISCEDEX 05 FR	2016-12-27	200,000	TO DEVELOP A STANDARDIZED AND LOW-COST METHOLD FOR THE EARLY DETECTION OF BREAST CANCER BY HIGHLY TRAINED DOGS.	200,000	NOT TO OUR KNOWLEDGE	06/16/2017, 10/25/2018, 07/31/2020
UNIVERSITE LAVAL	2320 RUE DES BIBLIOTHEQUES LOCAL 1462 QUBEC,QUEBECG1V 0A6 CA	2016-10-05	2,240,722	TO PREVENT UNINTENDED PREGNANCY AND FERTILITY CONTROL SPACING/PLANNING PREGNANCY.	424,995	NOT TO OUR KNOWLEDGE	05/15/2017, 06/01/2018, 09/17/2019, 10/27/2020
DEVELOPMENT MEDIA INTERNATIONAL	UNIT R RELIANCE WHARF 2-10 HERTFORD ROAD LONDON N1 5EW UK	2018-12-18	300,000	TO SUPPORT PROJECT ENFANCE, AN INNOVATIVE CAMPAIGN TO IMPROVE PARENTING BEHAVIOURS WHICH TARGETS PARENTS IN THE SOUTH-WESTERN COCOA-GROWING REGIONS OF CTE D'IVOIRE.	250,690	NOT TO OUR KNOWLEDGE	12/31/2020
CAMBRIDGE REPRODUCTIVE HEALTH CONSULTANTS INC	98 ELECTRIC AVE STE 1 SOMERVILLE,MA02144	2019-12-12	194,567	TO SUPPORT FOUR PROJECTS OF WOMEN HELP WOMEN IN EUROPE: PROJECT 1: EXPANSION OF THE ONLINE TELEHEALTH SERVICE IN EUROPE FOR COUNTRIES WITH RESTRICTED ACCESS TO ABORTION, INCLUDING POLAND, NORTHERN IRELAND, IRELAND AND MALTA; PROJECT 2: ABORTION WITHOUT BORDERS, A EUROPEAN COLLABORATION OF ORGANIZATIONS FOR SAFE ABORTION ACCESS; PROJECT 3: STIGMA BUSTING AND EVIDENCE-BASED INFORMATION DISSEMINATION BY THE ABORTION DREAM TEAM IN POLAND; PROJECT 4: OUTREACH AND PROMOTION OF SAFE SERVICES AND REFERRALS IN POLAND, MALTA, IRELAND AND NORTHERN IRELAND.	127,269	NOT TO OUR KNOWLEDGE	12/31/2020
CAMBRIDGE REPRODUCTIVE HEALTH CONSULTANTS INC	98 ELECTRIC AVE STE 1 SOMERVILLE,MA02144	2019-12-12	155,543	TO SUPPORT TWO PROJECTS OF WOMEN HELP WOMEN IN LATIN AMERICA: PROJECT 5 EXPANSION OF THE ON LINE TELEHEALTH SERVICE IN LATIN AMERICA AND PROJECT 6 SUPPORT FOR THE MOVEMENT FOR SAFE ABORTION IN LATIN AMERICA.	83,643	NOT TO OUR KNOWLEDGE	12/31/2020
GYNUITY INSTITUTE INC	220 EAST 42 STREET SUITE 710 NEW YORK,NY10017	2019-12-12	210,000	TO SUPPORT THE DEVELOPMENT OF A MISSED PERIOD PILL.	86,917	NOT TO OUR KNOWLEDGE	12/31/2020
IBIS REPRODUCTIVE HEALTH INC	2067 MASSACHUSETTS AVE SUITE 320 CAMBRIDGE,MA02140	2019-12-12	250,000	TO FUND A SMARTPHONE APPLICATION TO SUPPORT MEDICAL ABORTION IN CLINICAL SETTINGS - PHASE 1.	151,217		12/18/2020
IBIS REPRODUCTIVE HEALTH INC	2067 MASSACHUSETTS AVE SUITE 320 CAMBRIDGE,MA02140	2019-12-12	300,000	TO SUPPORT THE PROJECT, THE LATER ABORTION INITIATIVE, WHICH WAS FORMED TO PROTECT AND EXPAND ACCESS TO SAFE, AFFORDABLE, HIGH QUALITY AND STIGMA FREE ABORTION AFTER THE FIRST TRIMESTER IN THE UNITED STATES.	300,000	NOT TO OUR KNOWLEDGE	01/14/2021
IBIS REPRODUCTIVE HEALTH INC	2067 MASSACHUSETTS AVE SUITE 320 CAMBRIDGE,MA02140	2019-12-12	250,000	TO SUPPORT SELF-MANAGED ABORTION IN INDIA BY DEVELOPING AND PILOT TESTING A SAFE-ABORTION HOTLINE.	79,087	NOT TO OUR KNOWLEDGE	02/04/2021
THE IVORY FOUNDATION	48 RUE SAINT SBASTIEN PARIS 75011 FR	2018-04-13	500,000	TO SUPPORT THE PROJECT FOR EXPERIMENTING INOVATIVE SOLAR ENERGY PRODUCING UNITS FOR MEDICAL AND AGRICULTURAL FIELD IN EASTERN SENEGAL.	358,333	NOT TO OUR KNOWLEDGE	06/2019, 08/20/2021

Name of Stock	End of Year Book Value	End of Year Fair Market Value
164699 SHS DREYFUS TREASURY SEC CASH MGMT ADMIN	164,699	164,699
704132.87 SHS MSILF TREASURY SECURITIES INST	704,133	704,133
194 SHS 3M COMPANY	33,909	33,909
261 SHS ADIDAS AG	47,760	47,760
73 SHS ADOBE INC	36,509	36,509
1018 SHS ADYEN N V UNSPONSRED ADR	47,235	47,235
1479 SHS AIA GROUP LTD SPON ADR	72,663	72,663
3315 SHS AIR PRODUCTS AND CHEMICALS INC	905,724	905,724
16682 SHS AIRBUS SE UNSPONSORED ADR	458,012	458,012
409 SHS ALCON INC	26,986	26,986
927 SHS ALPHABET INC CAP STK CL C	1,623,993	1,623,993
58 SHS ALPHABET INC CL A	101,653	101,653
583 SHS AMADEUS IT GROUP S.A ADR	43,807	43,807
526 SHS AMAZON	1,713,145	1,713,145
212 SHS AMERICAN TOWER REIT COM	47,586	47,586
8676 SHS ANALOG DEVICES INC	1,281,705	1,281,705
1858 SHS ANTHEM INC	596,585	596,585
5265 SHS AON PLC SHS CL A	1,112,337	1,112,337
14178 SHS APPLE INC	1,881,279	1,881,279
119 SHS ASML HOLDING NV NY REG NEW	58,039	58,039
1214 SHS AT&T INC	34,915	34,915
506 SHS ATLAS COPCO AS A ADR A NEW	25,846	25,846
106 SHS ATLASSIAN CORP PLC CL A	24,790	24,790
367 SHS AUTOMATIC DATA PROCESSING INC	64,665	64,665
214 SHS BALL CORPORATION	19,941	19,941
171 SHS BECTON DICKINSON & CO	42,788	42,788
3478 SHS BERKSHIRE HATHAWAY CL-B NEW	806,444	806,444
43 SHS BLACKROCK INC	31,026	31,026
15996 SHS BLACKSTONE GROUP INC COM CL A	1,036,701	1,036,701
640 SHS BLACKSTONE MORTGAGE TRUST INC	17,619	17,619
254 SHS BOOKING HOLDINGS INC COM	565,727	565,727
1259 SHS BURBERRY GROUP PLC SPONS ADR	30,921	30,921
17888 SHS CARLYLE GROUP INC	562,399	562,399
480 SHS CELLNEX TELECOM SA UNS ADR	14,966	14,966
2685 SHS CIGNA CORP NEW	558,963	558,963
115 SHS CME GROUP INC	20,936	20,936
2138 SHS COMCAST CORP NEW CLASS A	112,031	112,031
3600 SHS CSX CORP COM	326,700	326,700
20 SHS DANAHER CORPORATION CONV PFD B 5%	26,022	26,022
97 SHS DIGITAL REALTY TRUST INC	13,532	13,532
6469 SHS DISNEY WALT CO	1,172,053	1,172,053
285 SHS DOMINION ENERGY INC	21,432	21,432
10275 SHS DR HORTON INC COM STK	708,153	708,153
153 SHS DTE ENERGY CO	18,576	18,576
229 SHS ECOLAB INC	49,546	49,546
826 SHS EDP ENERGIAS DE PORTGUAL SA	54,219	54,219
265 SHS ELASTIC N V	38,724	38,724
103 SHS ELI LILLY AND CO	17,391	17,391
787 SHS EMERSON ELECTRIC CO	63,251	63,251
819 SHS ERSTE GROUP BANK AG SPONS ADR	12,416	12,416
1877 SHS FANUC CORPORATION UNSP ADR	46,343	46,343
194 SHS FIDELITY NATL INFORMATION SE	27,443	27,443
797 SHS FIRST REP BK SAN FRANCISCO NCUM PFD I PERPTL MTY 5.5%	22,061	22,061
436 SHS GIVAUDAN SA ADR	36,999	36,999
1035 SHS HOME DEPOT INC	274,917	274,917
1640 SHS HONEYWELL INTERNATIONAL INC	348,828	348,828
265 SHS HOYA CORP SPONS ADR	36,779	36,779
195 SHS ICON PLC	38,021	38,021
1805 SHS INDUSTRIA DE DISENO TEXTIL IND	28,952	28,952
330 SHS INTL BUSINESS MACHINES CORP	41,540	41,540
643 SHS JOHNSON & JOHNSON	101,195	101,195
9980 SHS JPMORGAN CHASE & CO	1,268,159	1,268,159
2917 SHS JUST EAT TAKEAWAY COM N V ADR	33,283	33,283
2247 SHS KAO CORP	34,694	34,694
622 SHS KBC GROUP NV UNSPONS ADR	21,702	21,702
1116 SHS KINDER MORGAN INCORP	15,256	15,256
561 SHS L OREAL CO ADR	42,720	42,720
3076 SHS L3HARRIS TECHNOLOGIES INC	581,426	581,426
2082 SHS LEGRAND SA	36,997	36,997
9900 SHS LENNAR CORP COM CLASS A	754,677	754,677
206 SHS LINDE PLC	54,283	54,283
1927 SHS LONDON STK EXCHANGE GROUP ADR	60,238	60,238
266 SHS MEDTRONIC PLC SHS	31,159	31,159
713 SHS MERCK & CO INC NEW COM	58,323	58,323
8395 SHS MICROSOFT CORP	1,867,216	1,867,216
163 SHS MONDELEZ INTL INC	9,531	9,531
379 SHS MONOTARO CO LTD ADR	19,378	19,378
5578 SHS MOTOROLA SOLUTIONS INC	948,595	948,595
653 SHS NESTLE ADR	76,934	76,934
12028 SHS NEXTERA ENERGY INC	927,960	927,960
937 SHS NIDEC CORP	29,703	29,703
802 SHS NINTENDO CO LTD ADR NEW	64,577	64,577
54 SHS NORFOLK SOUTHN CORP	12,831	12,831
469 SHS NOVARTIS AG ADR	44,288	44,288
600 SHS NOVO NORDISK A/S ADR	41,910	41,910
304 SHS OCADO GROUP PLC SPONSORED ADR	19,608	19,608
9410 SHS ORACLE CORP	608,733	608,733
309 SHS PAYPAL HLDGS INC COM	72,368	72,368
1606 SHS PFIZER INC	59,117	59,117
305 SHS PIONEER NATURAL RESOURCES CO	34,736	34,736
563 SHS PPG INDUSTRIES INC	81,196	81,196
456 SHS PROCTER & GAMBLE	63,448	63,448
255 SHS PROLOGIS INC	25,413	25,413
8435 SHS RAYTHEON TECHNOLOGIES CORP	603,187	603,187
340 SHS REGENERON PHARMACEUTICALS INC	164,257	164,257
1077 SHS RENTOKIL GROUP PLC SP ADR	38,341	38,341
1028 SHS ROCHE HOLDINGS ADR	45,068	45,068
1013 SHS SERVICENOW INC COM	557,586	557,586
482 SHS SHISEIDO LTD SPON ADR	33,403	33,403
40 SHS SHOPIFY INC	45,278	45,278
311 SHS SOCIEDAD QUIMICA Y MINERA ADS	15,267	15,267
79 SHS SOLAREDGE TECHNOLOGIES INC	25,210	25,210
120 SHS SPOTIFY TECHNOLOGY SA	37,759	37,759
1273 SHS STARWOOD PPTY TR INC	24,569	24,569
448 SHS STONECO LTD CL A	37,596	37,596
11028 SHS T MOBILE US INC	1,487,126	1,487,126
457 SHS TAIWAN SMCNDCTR MFG CO LTD ADR	49,831	49,831
310 SHS TARGET CORPORATION	54,724	54,724
1546 SHS TEAMVIEWER AG ADR	42,902	42,902
211 SHS TELEPERFORMANCE SA UNSP ADR	36,182	36,182
178 SHS TEMENOS AG SPONSORED ADR	25,208	25,208
137 SHS TEXAS INSTRUMENTS INC	22,486	22,486
1296 SHS THERMO FISHER SCIENTIFIC INC	603,651	603,651
379 SHS THOMSON REUTERS CORP	31,036	31,036
1285 SHS TJX COS INC NEW	87,753	87,753
498 SHS TOKYO ELECTRON LTD UNSPON ADR	46,607	46,607
1526 SHS TRAVELERS COMPANIES INC	214,205	214,205
406 SHS TRUIST FINL CORP DEP PFD SER H 5.625%	10,552	10,552
1058 SHS U S BANCORP COM NEW	49,292	49,292
1688 SHS UMICORE SA ADR	20,087	20,087
351 SHS UNILEVER PLC SPON	21,186	21,186
4815 SHS UNION PAC CORP	1,002,579	1,002,579
471 SHS UNITED PARCEL SER INC CL-B	79,316	79,316
149 SHS UNITEDHEALTH GROUP INC	52,251	52,251
483 SHS VERIZON COMMUNICATIONS INC	28,376	28,376
386 SHS VESTAS WIND SYSTEMS ADS	30,197	30,197
199 SHS VIATRIS INC	3,729	3,729
319 SHS VISA INC CL A	69,775	69,775
14149 SHS VISTRA CORP	278,169	278,169
66 SHS WALMART INC	9,514	9,514
641 SHS WASTE MGMT INC (DELA)	75,593	75,593
405 SHS WELLS FARGO & CO REPSTG 1/1000TH INT PFD SER X CL A 5.5% PERPTL MTY	10,627	10,627
610 SHS WORLDLINE SA ADR	29,545	29,545

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
ACCRUED DIVIDEND	22,942	10,123	10,123
SECURITY DEPOSITS	1,304	0	0
PENDING TRADE RECEIVABLE		2,313	2,313

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
BANK FEES	665	67	598
REGISTRATION AND FILING FEES	750	0	0
OFFICE EXPENSES	7,576	0	0
LIABILITY INSURANCE	6,137	614	5,523

Description	Amount
UNREALIZED	5,210,512
PRIOR YEARS UNREALIZED	2,871,014

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
NONDIVIDEND DISTRIBUTIONS	29,418	0	29,418
N&B 42544 #1	730	730	730
N&B 49397 #2	1,105	1,105	1,105
MISCELLANEOUS INCOME	50	50	50

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
INVESTMENT ADVISORY FEES	266,821	266,821	0
CONSULTING FEES	243,936	0	243,936
WEBSITE	0	0	0

Category	Amount	Net Investment Income
FEDERAL TAXES	15,000	0
DE FRANCHISE TAX	25	0
FOREIGN TAXES	4,405	4,405