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
ARIZONA FOUNDATION FOR EDUCATIONAL
ADVANCEMENT

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 10417
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
PHOENIX, AZ850640417

A Employer identification number

86-0664560

B Telephone number (see instructions)

(480) 822-0881

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

$16,638,483J 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
4	Dividends and interest from securities...	492,409		490,894
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		241,804
b	Gross sales price for all assets on line 6a 8,123,906
7	Capital gain net income (from Part IV, line 2)...			241,804
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).......
12	Total. Add lines 1 through 11........	734,213		732,698
13	Compensation of officers, directors, trustees, etc.	148,400		7,420	140,980
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		10,000	5,000	5,000
c	Other professional fees (attach schedule)....		101,585	99,885	1,700
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		32,945	9,754	7,696
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......	490		0	490
22	Printing and publications..........
23	Other expenses (attach schedule).......		5,615	0	5,615
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	299,035		122,059	161,481
25	Contributions, gifts, grants paid.......	757,000			757,000
26	Total expenses and disbursements. Add lines 24 and 25	1,056,035		122,059	918,481
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-321,822
b	Net investment income (if negative, enter -0-)			610,639
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.............	11,506	7,109	7,109
	2	Savings and temporary cash investments.........	313,849	497,674	497,674
	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..........	11,960	6,475	6,475
	10a	Investments—U.S. and state government obligations (attach schedule)	1,512,791	1,378,127	1,378,127
	b	Investments—corporate stock (attach schedule).......	11,612,751	10,321,404	10,321,404
	c	Investments—corporate bonds (attach schedule).......	2,190,904	2,681,065	2,681,065
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	776,475	1,728,605	1,728,605
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	20,449	18,024	18,024
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	16,450,685	16,638,483	16,638,483
	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 )	48,569	54,095
	23	Total liabilities (add lines 17 through 22).........	48,569	54,095
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	16,402,116	16,584,388
	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........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	16,402,116	16,584,388
	30	Total liabilities and net assets/fund balances (see instructions).	16,450,685	16,638,483

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

16,402,116

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

-321,822

Other increases not included in line 2 (itemize) bullet

504,094

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

16,584,388

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 .

16,584,388

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
1 a	PUBLICLY TRADED SECURITIES	P
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	8,123,906	7,882,102	241,804
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			241,804
b
c
d
e

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	241,804
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	8,488
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	8,488
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	8,488
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	14,076
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	14,076
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	5,588
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax5,588	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)

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 .

Yes

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

N/A

The books are in care of bullet

JOHN MUESSLE Telephone no. bullet

(480) 822-0881

Located at bullet

PO BOX 10417PHOENIXAZ ZIP+4 bullet

85064

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).

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-)
JOHN MUESSLE	PRESIDENT/SECRETARY 20.00	105,900
PO BOX 10417 PHOENIX,AZ85064	PRESIDENT/SECRETARY 20.00	105,900
CLANCY WOODS THRU 082020	DIRECTOR 2.00	7,500
PO BOX 10417 PHOENIX,AZ85064	DIRECTOR 2.00	7,500
THOMAS DUNCAN	ASSISTANT TREASURER 3.00	12,500
PO BOX 10417 PHOENIX,AZ85064	ASSISTANT TREASURER 3.00	12,500
LEE BURTON	VICE CHAIR/TREASURER 3.00	12,500
PO BOX 10417 PHOENIX,AZ85064	VICE CHAIR/TREASURER 3.00	12,500
LEO VALDEZ	CHAIRMAN 2.00	10,000
PO BOX 10417 PHOENIX,AZ85064	CHAIRMAN 2.00	10,000

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
MERRIL LYNCH	INVESTMENT MANAGMENT FEES	101,277
PO BOX 1580 PENNINGTON,NJ08534	INVESTMENT MANAGMENT FEES	101,277

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

14,983,249

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

410,737

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

24,436

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

15,418,422

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

15,418,422

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

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

231,276

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

15,187,146

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

759,357

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

759,357

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

8,488

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

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

8,488

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

750,869

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

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

750,869

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

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

750,869

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 ..........

918,481

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

918,481

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

918,481

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				750,869
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......			740,570
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: $ 918,481
a Applied to 2019, but not more than line 2a			740,570
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.....				177,911
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 ..........				572,958
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
ACHIEVEMENT REWARDS FOR COLLEGE SCIENTISTS-DENVER PO BOX 460874 GOLDEN,CO802460874	NONE	PC	ADVANCE SCIENCE & TECHNOLOGY THRU $ AWARDS TO ACADEMICALLY OUTSTANDING U S CITIZENS FOR DEGREES IN SCIENCE, ENGINEERING & MEDICAL RESEARCH	5,000
ACHIEVEMENT REWARDS FOR COLLEGE SCIENTISTS-PHOENIX 3104 EAST CAMELBACK ROAD PMB 975 PHOENIX,AZ850164595	NONE	PC	ADVANCE SCIENCE & TECHNOLOGY THRU $ AWARDS TO ACADEMICALLY OUTSTANDING U S CITIZENS FOR DEGREES IN SCIENCE, ENGINEERING & MEDICAL RESEARCH	5,000
ALICE KING COMMUNITY SCHOOL FOUNDATION 8009 MOUNTAIN ROAD PLACE NE ALBUQUERQUE,NM87110	NONE	PC	SUPPORT THE EDUCATIONAL PURSUITS OF STUDENTS (@ AKCS) BY PROVIDING FUNDING FOR PROGRAMMING, FACILITY ENHACEMENTS AND SUPPLEMENTAL RESOURCES	2,500
ASU FOUNDATION CRONKITE SCHOOL OF JOURNALISM PO BOX 2260 TEMPE,AZ852802260	NONE	PC	TO TRAIN THE NEXT GENERATION OF JOURNALISM AND MEDIA LEADERS	25,000
BARRY GLASS EDUCATIONAL FOUNDATION 6800 GONZALES ROAD SW ALBUQUERQUE,NM87121	NONE	PC	RAISE FUNDS TO ASSIST THE MARK ARMIHO ACADEMY IN MEETING THEIR MISSION	2,500
BE A LEADER FOUNDATION 6850 N CENTRAL AVE PHOENIX,AZ85012	NONE	PC	PROMOTE EDUCATIONAL OPPORTUNITIES & TO CONTRIBUTE TO CHARITIES FOCUSED ON EDUCATION & COMMUNITY EFFORTS	4,000
BROADCASTERS FOUNDATION OF AMERICA 125 W 55TH ST 4TH FLOOR NEW YORK,NY10019	NONE	PC	GRANTS TO TV & RADIO BROADCASTERS, NO LONGER ABLE TO PROVIDE SELF OR FAMILIES (MAX $2,000/YR) OR BROADCASTERS RAVAGED BY NATURAL DISASTERS ($2,000/YR)	20,000
COLORADO SCHOOL OF MINES PO BOX 4005 GOLDEN,AZ804024005	NONE	PC	TO PROVIDE FINANCIAL RESOURCE DEVELOPMENT AND SUPPORT TO THE COLORADO SCHOOL OF MINES	5,000
CRISIS CENTER OF NORTHERN NEW MEXICO 577 EL LLANO ROAD ESPANOLA,NM87532	NONE	PC	PROVIDE TRAUMA-INFORMED SERVICES TO VICTIMS OF DOMESTIC VIOLENCE AND THEIR CHILDREN	2,500
DESERT VOICES 3426 EAST SHEA BLVD PHOENIX,AZ85028	NONE	PC	EARLY INTERVENTION PROGRAM---SPECIFICALLY FOR PARENT-INFANT THERAPY (DEVELOP THE LANGUAGE, COGNITIVE AND SOCIAL EMOTIONAL SKILLS FOR SCHOOL READINESS)	30,000
EXPONENT PHILANTHROPY (FRMRLY ASSOC OF SMALL FDTNS) 1720 N STREET NW WASHINGTON DC,DC20036	NONE	PC	MEMBERSHIP ASSOCIATION TO EDUCATE, ASSIST AND NETWORK FOR SMALL (SMALL OR NO STAFF) FOUNDATIONS	7,500
HANDS ACROSS CULTURES PO BOX 2215 ESPANOLA,NM87532	NONE	PC	REDUCE THE RATE OF FAMILIES AND YOUTH EXPERIENCING SERVICE RELATED PROBLEMS, PARTICULARLY THROUGH EDUCATION, DISEASE PREVENTION & HEALTH PROMOTION	5,000
HOLY CROSS CATHOLIC CHURCH PO BOX 1228 SANTA CRUZ,NM87567	NONE	PC	CATHOLIC CHURCH - GRANT TO BUILDING FUND WHICH HELPS MAINTAIN AND PRESERVE THE HISTORICAL BUILDING AND SURROUNDING SITE	7,500
HOLY CROSS CATHOLIC SCHOOL PO BOX 1260 1331 STATE ROAD 76 SANTA CRUZ,NM87567	NONE	PC	CATHOLIC SCHOOL PRE-K THROUGH 6TH GRADE (TO PROVIDE FOR CLASSROOM AND STUDENT SUPPLIES WHICH CANNOT BE FUNDED FROM CURRENT OPERATING BUDGET)	7,500
HUMAN SERVICES CAMPUS & LODESTAR DAY RESOURCE 204 S 12TH AVE PHOENIX,AZ85007	NONE	PC	ASSISTS CLIENTS IN ENDING THEIR HOMELESSNESS BY ACHIEVING GREATER SELF-SUFFIIENCY THROUGH NUMEROUS STRATEGIES INCLUDING EDUCATION & EMPLOYMENT	45,000
HUTCHINSON COMMUNITY COLLEGE ENDOWMENT ASSOC 1300 NORTH PLUM HUTCHINSON,KS67501	NONE	PC	PROVIDE SCHOLARSHIP ASSISTANCE TO STUDENTS BY BUILDING RELATIONSHIPS WITH ALUMNI, BUSINESSES, FOUNTAITONS AND FRIENDS OF THE COLLEGE	115,000
JESUIT HIGH SCHOOL 9000 SW BEAVERTON-HILLSDALE HWY PORTLAND,OR97225	NONE	PC	TUITION ASSISTANCE FOR ECONOMICALLY DISADVANTAGED STUDENTS (ST. ANDREW NATIVITY PROGRAM)	30,000
NEW LIFE FARMINGTON (FRMRLY NEW LIFE WORSHIP CENTER) 8121 EAST MAIN STREET FARMINGTON,NM87402	NONE	PC	FUNDING UNIVERSITY SCHOLARSHIPS AWARDED THROUGH YOUTH MINISTRY (TUITION AND/OR BOOKS)	100,000
NORTHERN NEW MEXICO COLLEGE FOUNDATION 921 PASEO DE ONATE ESPANOLA,NM87532	NONE	PC	MEET EDUCATIONAL NEEDS VIA SCHOLARSHIPS TO SUPPORT NORTHERN NEW MEXICO COLLEGE STUDENTS	6,500
NORTHERN NEW MEXICO NORMAL SCHOOL ALUM ASSOC PO BOX 901 SANTA CRUZ,NM87567	NONE	PC	TO ADVANCE THE EDUCATIONAL OPPORTUNITIES FOR GRADUATING SENIORS WISHING ADDITIONAL EDUCATION & TRAINING AT A UNIVERSITY, CC OR ADULT CE CENTER	6,500
PAT TILLMAN FOUNDATION 222 W MERCHANDISE MART PLAZA SUITE 1212 CHICAGO,IL60654	NONE	PC	PROVIDE ACADEMIC SCHOLARSHIPS FOR SERVICE MEMBERS AND THEIR SPOUSES (FILLING FINANCIAL GAPS NOT COVERED BY THE POST 9-11 G.I. BILL)	59,500
PIMERIA ALTA HISTORICAL SOCIETY PO BOX 2281 NOGALES,AZ856282281	NONE	PC	PROVIDE A PRESERVATION OF HISTORIC AND CURRENT EVENTS OF THE CITY OF NOGALES TO INFORM ITS INHABITANTS AND EDUCATE TOURISTS	10,000
SAN MARCOS HIGH SCHOOL 1615 W SAN MARCOS BLVD SAN MARCOS,CA92078	NONE	GOV	ESTABLISHING COLLEGE SCHOLARSHIPS IN THE NAME OF FORMER SMHS TEACHERS AND COACHES FOR THE DEVELOPMENT OF STUDENTS IN THE COMMUNITY	20,000
SANTA BARBARA CITY COLLEGE THE FOUNDATON FOR 721 CLIFF DRIVE SANTA BARBARA,CA93109	NONE	PC	GRANT WILL BE USED SPECIFICALLY FOR THE PURPOSE OF THE SBCC BASEBALL PROGRAM BUT WILL NOT FUND ANY SCHOLARSHIPS	5,000
SANTA FE BOYS & GIRLS CLUB INC 6600 VALENTINE WAY PO BOX 29805 SANTA FE,NM87592	NONE	PC	SUPPORT THE BOYS & GIRLS OF SANTA FE AND RIO ARRIBA COUNTIES THROUGH AFTER SCHOOL PROGRAMS, FOOD SERVICE AND EDUCATION	2,500
SARRC 300 NORTH 18TH STREET PHOENIX,AZ85006	NONE	PC	SUPPORT (CHILD AUTISTIC) SCHOOL CONSULTATION PROGRAM IN PHOENIX AND OTHER AZ SCHOOL DISTRICTS	5,000
SER - JOBS FOR PROGRESS INC 1596 PACHECO ST STE 109 SANTA FE,NM87505	NONE	PC	TO ELIMINATE POVERTY IN THIS NATION BY PROVIDING OPPORTUNITY TO OBTAIN WORK, EDUCATION & TRAINING AND TO LIVE IN DECENCY & DIGNITY	5,000
ST THOMAS THE APOSTLE 4510 NORTH 42ND STREET PHOENIX,AZ85016	NONE	PC	TO HELP STA MAKE PRECAUTIONARY CAMPUS IMPROVEMENTS TO ALLOW SCHOOL TO OPERATE DURING THE COVID 19 SEASON, INCLUDING MODULAR CLASSROOMS.	25,000
STEPPING STONE FOUNDATION 2851 W KATHLEEN RD PHOENIX,AZ850807149	NONE	PC	AT RISK PRESCHOOL CHILDREN & FAMILY LITERACY	4,500
THE ROCK CHRISTIAN OUTREACH 919 N RIVERSIDE DRIVE ESPANOLA,NM87532	NONE	PC	A K-12 ACADEMY AND DAYCARE SERVICE PRIMARILY FOR CHILDREN OF PARENTS STRUGGLING (WITH ADDICTIONS) & LOW-INCOME. ALSO, INCLUDES FOSTER CHILDREN.	3,500
U OF A FOUNDATION - ARIZONA ASSURANCE 1111 NORTH CHERRY AVE PO BOX 210109 TUCSON,AZ85721	NONE	PC	TO FUND UNDERGRADUATE FOUR-YEAR SCHOLARSHIPS FOR ARIZONA RESIDENTS FROM LOW-INCOME FAMILIES TO ATTEND THE U OF ARIZONA	30,000
U OF A FOUNDATION- BIO5 (KEYS) 1111 NORTH CHERRY AVE PO BOX 210109 TUCSON,AZ85721	NONE	PC	TO PROVIDE ARIZONA HIGH SCHOOL STUDENTS WITH HANDS-ON LABORATORY RESEARCH UNDER THE MENTORSHIP OF WORLD-CLASS SCIENTISTS AND THEIR LAB TEAMS	20,000
U OF A FOUNDATION- ELLER COLLEGE OF MANAGEMENT 1111 NORTH CHERRY AVE PO BOX 210109 TUCSON,AZ85721	NONE	PC	TO RECRUIT NON-BUSINESS MAJORS FOR THE ENTREPRENEURSHIP PROGRAM AND DELIVER A MENTORS-IN-RESIDENCE TO COORDINATE PROGRAM TEACHING OBJECTIVES	25,000
UC SANTA BARBARA FOUNDATION UNIVERSITY OF CALIFORNIA SANTA BARBARA SANTA BARBARA,CA931062013	NONE	PC	DISBURSEMENTS OF FUNDS FOR DEPARTMENT(S) SUPPORT, INSTRUCTORS, RESEARCH AND SPECIAL PROJECTS	50,000
UNIVERSITY OF PORTLAND 5000 N WILLAMETTE BLVD PORTLAND,OR97203	NONE	PC	$15,000 TO WRDS DATA BASE RESOURCE & $25,000 TO ESCHOLARS PROGRAM	40,000
WASHBURN UNIVERSITY FOUNDATION 1729 SW MACVICAR AVENUE TOPEKA,KS66004	NONE	PC	A NEW LAW SCHOOL BUILDING REFLECTING WASHBURN LAW'S MISSION, PROGRAMS AND CULTURE--FOR SUPERIOR ACEDEMICS & PRACTICAL PREPARATION OF STUDENTS	10,000
XAVIER COLLEGE PREPARATORY 4710 NORTH 5TH STREET PHOENIX,AZ85012	NONE	PC	SCHOLARSHIP FUNDING TO DEVELOP AND PROMOTE EXCELLENCE IN EDUCATION FOR STUDENTS AND WITHIN THE COMMUNITY	10,000
Total ................................. 3a				757,000

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 ...........
4 Dividends and interest from securities....			14	492,409
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	241,804
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		734,213	0

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

734,213

(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.)

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

- TIN:

TY 2020 AccountingFeesSchedule

Name:

ARIZONA FOUNDATION FOR EDUCATIONAL

ADVANCEMENT

EIN:

86-0664560

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING	10,000	5,000		5,000

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

ARIZONA FOUNDATION FOR EDUCATIONAL

ADVANCEMENT

EIN:

86-0664560

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ADVANCED MICRO DEVICES	11,449	11,449
ALPHABET INC	26,724	26,724
ALTRIA GROUP INC	28,547	28,547
AMAZON.COM INC	35,595	35,595
AMERICAN EXPRESS CREDIT	27,692	27,692
AMERICN AIRLINES GROUP I	26,325	26,325
AMGEN INC	33,195	33,195
ANHEUSER-BUSCH INBEV FIN	23,130	23,130
APPLE INC	28,044	28,044
APPLE INC	29,079	29,079
AUD AUSTRALIAN GOVT.	31,452	31,452
AUD AUSTRALIAN GOVT.	17,178	17,178
BAT INTL FINANCE PLC	26,614	26,614
BAXTER INTERNATIONAL INC	18,509	18,509
BENEFITFOCUS INC	7,920	7,920
CHEGG INC	16,303	16,303
CHEVRON CORP	36,399	36,399
CITIGROUP INC	29,867	29,867
CITIGROUP INC	37,305	37,305
COLONY STARWOOD HOMES	6,676	6,676
COMCAST CORP	35,347	35,347
CONMED CORP	12,581	12,581
COUPA SOFTWARE INC	17,450	17,450
CVS HEALTH CORP	23,799	23,799
DISH NETWORK CORP	4,766	4,766
DKK DENMARK - BULLET	26,547	26,547
DOCUSIGN INC	15,582	15,582
ETSY INC	12,731	12,731
EUR BTPS	20,613	20,613
EUR BTPS	38,998	38,998
EUR BTPS	36,014	36,014
EUR DEUTSCHLAND REP	39,100	39,100
EUR DEUTSCHLAND REP	13,161	13,161
EUR FRANCE O.A.T.	30,121	30,121
EUR FRANCE O.A.T.	52,734	52,734
EUR IRISH GOVT	26,988	26,988
EUR REP OF AUSTRIA	33,418	33,418
EUR SPANISH GOV'T	33,159	33,159
EUR SPANISH GOV'T	31,808	31,808
FIFTH THIRD BANCORP	35,991	35,991
FIREEYE, INC	10,794	10,794
FISERV INC	33,114	33,114
FIVE9 INC	12,738	12,738
FORTIVE CORPORATION	9,258	9,258
GBP UK TSY GILT	63,103	63,103
GDS HLDGS LTD	9,444	9,444
GENERAL MOTORS FINL CO	28,217	28,217
GOLDMAN SACHS GROUP INC	26,891	26,891
HOME DEPOT INC	36,832	36,832
HUAZHU GROUP LTD	15,984	15,984
IDR INT BK RECON&DEV	7,400	7,400
II-VI INC	8,349	8,349
INPHI THINK FAST	8,524	8,524
INSMED INC	12,344	12,344
INSULET CORP	11,864	11,864
INVITAE CORP	6,371	6,371
JPMORGAN CHASE & CO	23,963	23,963
JPMORGAN CHASE & CO	28,582	28,582
JPY DEV BANK JAPAN	19,846	19,846
JPY EUROPEAN INVT BK	33,093	33,093
JPY KFW	43,324	43,324
JPY KFW	41,151	41,151
KINDER MORGAN INC/DELAWA	25,102	25,102
LIBERTY MEDIA CORP	8,920	8,920
LIVE NATION ENTERTAINMEN	18,071	18,071
LIVEPERSON INC	7,058	7,058
LOWE'S COS INC	30,395	30,395
LUMENTUM HLDGS INC	11,544	11,544
MARSH & MCLENNAN COS INC	25,368	25,368
MASTERCARD INC	26,743	26,743
MICROCHIP TECHNOLOGY INC	12,121	12,121
MICROSOFT CORP	17,927	17,927
MORGAN STANLEY	24,372	24,372
MORGAN STANLEY	18,355	18,355
MORGAN STANLEY	23,143	23,143
NEOGNOMICS, INC.	8,156	8,156
NEVRO CORP	12,546	12,546
NOK NORWEGIAN GOV'T	12,157	12,157
NORTHROP GRUMMAN CORP	26,104	26,104
NOVELLUS SYS INC	14,811	14,811
OKTA INC	14,881	14,881
ORACLE CORP	41,371	41,371
PENN NATL GAMING, INC	15,089	15,089
PFIZER INC	27,104	27,104
PINDUODUO INC	8,633	8,633
PRICELINE GROUP INC	6,954	6,954
PRV ONT 2.4 2026JUN02	12,767	12,767
Q2 HOLDINGS INC	10,721	10,721
REPLIGEN CORP	17,500	17,500
RH	11,718	11,718
SAREPTA THERAPEUTICS INC	9,807	9,807
SCORPIO TANKERS INC	5,712	5,712
SEK KOMMUNINVEST	19,556	19,556
SERVICENOW INC	8,153	8,153
SHOPIFY INC	10,598	10,598
SNAP INC	24,906	24,906
SOUTHWEST AIRLINES CO	26,145	26,145
SQUARE INC	22,399	22,399
STARWOOD PROPERTY TRUST	17,834	17,834
STATE STREET CORP	43,274	43,274
SUNPOWER CORP	19,391	19,391
TARGET CORP	26,762	26,762
TERADYNE INC	22,684	22,684
TESLA, INC.	102,325	102,325
TWILIO INC	19,072	19,072
TWITTER INC	18,324	18,324
UNION PACIFIC CORP	36,803	36,803
UNITEDHEALTH GROUP INC	26,517	26,517
VERIZON COMMUNICATIONS	28,213	28,213
VISA INC	32,994	32,994
WEIBO CORP	47,530	47,530
WELLS FARGO & COMPANY	23,808	23,808
WESTERN DIGITAL CORP	44,728	44,728
ZILLOW GROUP INC	23,802	23,802

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

ARIZONA FOUNDATION FOR EDUCATIONAL

ADVANCEMENT

EIN:

86-0664560

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABB LTD SPON ADR	16,860	16,860
ABBOTT LABS	57,811	57,811
ABBVIE INC SHS	69,219	69,219
ABBVIE INC SHS	77,469	77,469
ABM INDUSTRIES INC COM	8,552	8,552
ACCENTURE PLC SHS	90,117	90,117
ACCENTURE PLC SHS	14,105	14,105
AGILENT TECHNOLOGIES INC	14,574	14,574
AIA GROUP LTD	19,308	19,308
AIA GROUP LTD	15,083	15,083
AIR LIQUIDE ADR	14,866	14,866
AIR LIQUIDE ADR	12,136	12,136
AIR PRODUCTS&CHEM	47,267	47,267
AIRBUS SE	3,306	3,306
ALIBABA GROUP HOLDING LT	12,102	12,102
ALLIANT ENERGY CORP	29,990	29,990
ALSTOM SA-UNSPON ADR	9,844	9,844
AMERICAN FINL GRP HLDGS	15,421	15,421
AMERICOLD RLTY TR	17,769	17,769
AMETEK INC NEW	23,341	23,341
AMN ELEC POWER CO	63,868	63,868
ANALOG DEVICES INC COM	8,864	8,864
ANHEUSER-BUSCH INBEV ADR	280	280
ANTHEM INC	59,402	59,402
AON PLC REG SHS	18,380	18,380
APPLE HOSPITALITY REIT	8,830	8,830
APPLE INC	144,101	144,101
APTIV PLC	17,436	17,436
APTIV PLC SHS	13,680	13,680
ASPEN TECHNOLOGY INC DEL	8,076	8,076
ASTRAZENECA PLC SPND ADR	15,797	15,797
AT&T INC	4,602	4,602
AUTOMATIC DATA PROC	149,241	149,241
AVNET INC	316	316
AXALTA COATING SYSTEMS	14,275	14,275
AXIS CAPITAL HOLDINGS	10,935	10,935
BANCO SANTANDER SA ADR	9,266	9,266
BANK HAWAII CORP	11,799	11,799
BEIERSDORF AG SHS	2,157	2,157
BHP GROUP LTD	11,435	11,435
BLACKSTONE MORTGAGE TRUS	15,472	15,472
BNP PARIBAS SPONSORD ADR	2,661	2,661
BROADCOM LTD	186,524	186,524
BRUKER CORP	15,860	15,860
BWX TECHNOLOGIES INC	35,867	35,867
CALAVO GROWERS INC	8,540	8,540
CALIFORNIA WTR SVC GP DE	9,996	9,996
CAMDEN PPTY TR COM SBI	9,492	9,492
CANADIAN NATL RAILWAY CO	8,898	8,898
CAPGEMINI SE SHS ADR	22,383	22,383
CARLISLE COS INC	17,648	17,648
CARLSBERG AS SPONSOREDAD	11,245	11,245
CARTER HOLDINGS INC	3,763	3,763
CASEYS GEN STORES INC	17,683	17,683
CBIZ INC	9,127	9,127
CDK GLOBAL INC SHS	16,741	16,741
CERNER CORP COM	15,068	15,068
CHANGE HEALTHCARE INC	7,815	7,815
CHECK POINT SOFTWRE TECH	17,278	17,278
CHEVRON CORP	154,290	154,290
CHUBB LTD	124,521	124,521
CHUBB LTD	48,485	48,485
CIE GENERALE DES	12,448	12,448
CISCO SYSTEMS INC COM	21,614	21,614
CISCO SYSTEMS INC COM	167,723	167,723
CITIZENS FINL GROUP INC	25,354	25,354
CITRIX SYSTEMS INC COM	20,426	20,426
CME GROUP INC	43,146	43,146
CME GROUP INC	18,569	18,569
CMNTY BANK SYS INC DEL	28,102	28,102
COCA COLA COM	182,727	182,727
COCA-COLA EUROPEAN	4,485	4,485
COGENT COMMUNICATIONS	5,448	5,448
COLGATE PALMOLIVE	52,076	52,076
COLUMBIA SPORTSWEAR CO	16,777	16,777
COMCAST CORP NEW CL A	135,716	135,716
COMCAST CORP NEW CL A	75,299	75,299
CONMED CORP COM	8,624	8,624
CONTINENTAL AG SPNRD ADR	6,762	6,762
CORESITE REALTY CORP	12,403	12,403
CORTEVA INC REG SHS	13,552	13,552
CROWN CASTLE REIT INC	110,637	110,637
CURTISS WRIGHT	10,472	10,472
CYRUSONE INC	35,844	35,844
DAIWA HOUSE IND LTD ADR	8,570	8,570
DANAHER CORP	11,710	11,710
DANAHER CORPORATION	21,247	21,247
DBS GROUP HLDGS SPN ADR	8,061	8,061
DEUTSCHE BOERSE AG SHS	13,723	13,723
DEUTSCHE POST AG SHS	17,793	17,793
DEUTSCHE TELE AG SPN ADR	15,365	15,365
DISCOVER FINL SVCS	23,447	23,447
DOUGLAS DYNAMICS INC	7,442	7,442
DUKE REALTY CORP	19,865	19,865
EATON CORP PLC	103,561	103,561
ELECTRONIC ARTS INC DEL	24,556	24,556
ELI LILLY & CO	116,162	116,162
EMCOR GROUP INC	16,006	16,006
EMCOR GROUP INC	15,640	15,640
ENEL SOCIETA PER AZIONI	17,133	17,133
ENGIE SHS	18,237	18,237
ENSIGN GROUP INC	15,605	15,605
ENTERGY CORP NEW	27,456	27,456
ENTERPRISE FINL SVCS CRP	30,337	30,337
EQTY LIFESTYLS PPTYS INC	37,066	37,066
EQUINOR ASA	6,338	6,338
EQUITY COMMONWEALTH	2,592	2,592
ERSTE GROUP BK SP ADR	2,789	2,789
ESCO TECHNOLOGIES INC	7,432	7,432
ESSENTIAL UTILITIES INC	5,148	5,148
EVERGY INC	25,535	25,535
EXLSERVICE HLDGS INC	15,068	15,068
EXPONENT INC	7,653	7,653
F5 NETWORKS INC COM	24,104	24,104
FERGUSON NEWCO PLC SHS	10,475	10,475
FIDELITY NATL INFO SVCS	78,510	78,510
FIFTH THIRD BANCORP	17,424	17,424
FIRST AMERICAN FINL CORP	9,190	9,190
FIRST HORIZON CORP	1,110	1,110
FLUGHAFEN ZUERICH AG ADR	3,953	3,953
FOX CORP CL B	1,675	1,675
FOX FACTORY HLDG CORP	12,368	12,368
FUJITSU LTD NEW ADR	7,473	7,473
GARMIN LTD	81,488	81,488
GATX CORPORATION	25,619	25,619
GLACIER BANCORP INC NEW	16,794	16,794
GLOBAL PMTS INC GEORGIA	11,633	11,633
GLOBE LIFE INC	30,577	30,577
GRACE W.R. & CO (NEW	3,508	3,508
GRAPHIC PACKAGING HLDG C	23,750	23,750
HARTFORD FINL SVCS GROUP	15,723	15,723
HELEN OF TROY LTD	9,332	9,332
HELLA GMBH AND CO	12,555	12,555
HEXAGON AB ADR	10,878	10,878
HILL ROM HLDGS	18,516	18,516
HITACHI LTD 10 NEW ADR	10,163	10,163
HOME DEPOT INC	162,559	162,559
HONEYWELL INTL INC DEL	57,642	57,642
HONEYWELL INTL INC DEL	96,779	96,779
HOULIHAN LOKEY INC	13,312	13,312
HUDSON PAC PPTYS INC	6,726	6,726
IAA INC REG SHS WHEN	14,231	14,231
ICICI BANK LTD SPD ADR	8,426	8,426
IDACORP INC COM	14,020	14,020
INDUSTRIA DE DISENO	3,689	3,689
INFORMA PLC SHS ADR	6,465	6,465
JOHNSON AND JOHNSON COM	127,793	127,793
JOHNSON AND JOHNSON COM	91,595	91,595
JPMORGAN CHASE & CO	178,025	178,025
JPMORGAN CHASE & CO	68,872	68,872
KAISER ALUM CORP	14,044	14,044
KAO CORP SHS ADR	4,416	4,416
KAO CORP SHS ADR	14,158	14,158
KINSALE CAPITAL GROUP	9,206	9,206
KNORR-BREMSE AG	10,199	10,199
KONINKL PHIL NV SH NEW	16,739	16,739
L OREAL CO ADR	13,174	13,174
LABORATORY CP AMER HLDGS	32,161	32,161
LAMAR ADVERTISING CO-A	20,222	20,222
LEGGETT&PLATT INC PV1CT	5,626	5,626
LEVI STRAUSS AND CO NEW	20,783	20,783
LIFE STORAGE INC	6,566	6,566
LINCOLN ELEC HLDGS INC	23,366	23,366
LINDE PLC REG SHS	72,465	72,465
LITHIA MOTORS INC CL A	4,390	4,390
LOCKHEED MARTIN CORP	46,502	46,502
LOCKHEED MARTIN CORP	63,541	63,541
LONDON STK EXCHANGE	8,253	8,253
LONZA GROUP AG SHS	9,548	9,548
LOWE'S COMPANIES INC	96,145	96,145
LVMH MOET HENNESSY ADR	12,598	12,598
M&T BANK CORPORATION	6,874	6,874
MAKITA CORP SPOND ADR	12,633	12,633
MANTECH INTL CORP	31,929	31,929
MARSH & MCLENNAN COS INC	51,129	51,129
MARTIN MARIETTA MATLS	19,026	19,026
MAXIM INTEGRATED PRODS	25,974	25,974
MCDONALDS CORP COM	169,089	169,089
MCDONALDS CORP COM	65,447	65,447
MEDPACE HLDGS INC	7,517	7,517
MEDTRONIC PLC SHS	57,164	57,164
MEDTRONIC PLC SHS	167,862	167,862
MEDTRONIC PLC SHS	16,868	16,868
MERCK AND CO INC SHS	122,782	122,782
MERCK AND CO INC SHS	66,422	66,422
MERCK KGAA- ADR	10,070	10,070
MERCURY SYSTEMS INC	19,461	19,461
MICROSOFT CORP	122,553	122,553
MICROSOFT CORP	216,637	216,637
MONDELEZ INTERNATIONAL	51,103	51,103
MOTOROLA SOLUTIONS INC	64,963	64,963
MOTOROLA SOLUTIONS INC	11,394	11,394
MSC INDL DIRECT INC CL A	19,494	19,494
NATL HEALTH INVS INC	19,575	19,575
NESTLE S A REP RG SH ADR	16,845	16,845
NEWMARKET CORP	16,728	16,728
NEXON CO LTD ADR	10,134	10,134
NEXTERA ENERGY INC	36,408	36,408
NEXTERA ENERGY INC SHS	116,651	116,651
NEXTERA ENERGY INC SHS	80,545	80,545
NIDEC CORPORATION ADR	14,043	14,043
NINTENDO LTD ADR	5,797	5,797
NINTENDO LTD ADR	20,452	20,452
NORDEA BANK ABP SHS ADR	2,562	2,562
NOVARTIS ADR	18,508	18,508
NOVARTIS ADR	14,920	14,920
NUTRIEN LTD REG SHS	15,267	15,267
NXP SEMICONDUCTORS N.V.	14,629	14,629
ONE GAS INC SHS	22,187	22,187
O'REILLY AUTOMOTIVE INC	7,241	7,241
ORIX CORPORATION SP ADR	16,394	16,394
PACKAGING CORP AMERICA	39,580	39,580
PEPSICO INC	60,358	60,358
PEPSICO INC	160,906	160,906
PERNOD-RICARD SA-UNSPON	9,933	9,933
PFIZER INC	45,424	45,424
PHILIP MORRIS INTL INC	9,190	9,190
PNC FINCL SERVICES GROUP	145,871	145,871
PRIMERICA INC COM	14,598	14,598
PROCTER & GAMBLE CO	171,977	171,977
PROLOGIS INC	115,606	115,606
PRUDENTIAL PLC ADR	8,383	8,383
PUBLIC STORAGE $0.10	23,093	23,093
QURATE RETAIL INC	12,594	12,594
RECKITT BENCKISER GROUP	18,029	18,029
REGIONS FINL CORP	18,764	18,764
RELIANCE STL & ALUM CO	6,586	6,586
RELX PLC	20,295	20,295
RENAISSANCERE HLDGS LTD	25,536	25,536
RENESAS ELECTRONICS CORP	18,802	18,802
REXFORD INDL RLTY INC	14,389	14,389
RH	12,531	12,531
ROCHE HLDG LTD SPN ADR	14,906	14,906
ROCKWELL AUTOMATION INC	101,829	101,829
ROSS STORES INC COM	14,983	14,983
ROYAL DSM N V SPON ADR	13,142	13,142
RYANAIR HOLDINGS PLC SHS	10,778	10,778
RYOHIN KEIKAKU CO LTD	5,422	5,422
SAFRAN SA-UNSPON ADR	19,999	19,999
SAMPO PLC SHS	11,352	11,352
SAMSONITE INTL S.A	2,012	2,012
SANDERSON FARMS INC COM	3,834	3,834
SANDVIK AB ADR	11,041	11,041
SANOFI ADR	18,902	18,902
SANOFI ADR	9,232	9,232
SAP SE SHS	4,433	4,433
SCHEIN (HENRY) INC COM	13,305	13,305
SCHWAB CHARLES CORP NEW	55,162	55,162
SCIENCE APPLICATIONS	14,575	14,575
SELECTIVE INS GRP INC	15,204	15,204
SEMPRA ENERGY	4,489	4,489
SHIMANO INC ADR	11,271	11,271
SHIN-ETSU CHEM-UNSPON	14,865	14,865
SIEMENS AG ADR	17,948	17,948
SIEMENS GAMESA RENEWABLE	7,242	7,242
SIMPSON MFG DEL PV $0.01	6,261	6,261
SITEONE LANDSCAPE SUPPLY	7,773	7,773
SMITH-NPHW PLC SPADR NEW	14,000	14,000
SONOCO PRODUCTS CO	9,243	9,243
SONY CORP ADR NEW	28,915	28,915
SOUTHWEST GAS HOLDINGS	3,281	3,281
SPIRE INC	24,463	24,463
STANLEY BLACK & DECKER I	16,800	16,800
STEPAN CO	6,563	6,563
SUMITOMO MITSUI-UNSPONS	463	463
SUZUKI MOTOR CORP SHS	8,409	8,409
SYNOPSYS INC	11,666	11,666
TAKEDA PHARMACEUTICAL	9,173	9,173
TARGET CORP COM	190,299	190,299
TE CONNECTIVITY LTD	144,437	144,437
TELENOR ASA ADR	2,006	2,006
TERRENO REALTY CORP SHS	3,920	3,920
TESCO PLC SPNRD ADR	9,235	9,235
TETRA TECH INC NEW	8,915	8,915
TEXAS INSTRUMENTS	77,305	77,305
TEXAS INSTRUMENTS	187,929	187,929
TFI INTERNATIONAL INC	6,757	6,757
TOTAL SE	3,395	3,395
TRANE TECHNOLOGIES PLC	62,128	62,128
TREASURY WINE ESTATES	3,721	3,721
TRUIST FINL CORP	82,104	82,104
TYSON FOODS INC CL A	19,332	19,332
UBS GROUP AG NAMEN-AKT	11,488	11,488
UNILEVER PLC NEW ADR	12,615	12,615
UNILEVER PLC NEW ADR	13,762	13,762
UNION PACIFIC CORP	135,968	135,968
UNION PACIFIC CORP	68,713	68,713
UNITED COMMUNITY BANKS	25,710	25,710
UNITED PARCEL SVC CL B	70,896	70,896
UNITEDHEALTH GROUP INC	51,901	51,901
UNITEDHEALTH GROUP INC	95,736	95,736
VERIZON COMMUNICATNS COM	167,496	167,496
VESTAS WIND SYTS AS ADR	14,473	14,473
VINCI SA ADR	7,800	7,800
VIVENDI SHS UNSP ADR	14,798	14,798
VODAFONE GROUP PLC SHS	7,004	7,004
VOLKSWAGEN AG-UNSP	7,765	7,765
WALKER & DUNLOP INC	19,784	19,784
WASHINGTON FEDL INC	9,163	9,163
WASTE CONNECTIONS INC	12,616	12,616
WATTS WATER TECH INC	9,371	9,371
WD 40 COMPANY DELAWARE	17,269	17,269
WEC ENERGY GROUP INC SHS	54,022	54,022
WELLS FARGO & CO NEW	21,251	21,251
WENDYS CO	7,694	7,694
WESTLAKE CHEM CORP	8,813	8,813
WOLTERS KLUWR NV SPN ADR	9,317	9,317
WORLD FUEL SERVICES CRP	5,328	5,328
YETI HLDGS INC	11,024	11,024
Z HOLDINGS CORP SHS ADR	5,454	5,454

- TIN:

TY 2020 InvestmentsGovtObligationsSch

Name:

ARIZONA FOUNDATION FOR EDUCATIONAL

ADVANCEMENT

EIN:

86-0664560

US Government Securities - End of Year Book Value:

1,378,127

US Government Securities - End of Year Fair Market Value:

1,378,127

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

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

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

ARIZONA FOUNDATION FOR EDUCATIONAL

ADVANCEMENT

EIN:

86-0664560

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
BLACKROCK HI YLD BD	FMV	738,410	738,410
ISHARES RS 2000 VALUE	FMV	200,392	200,392
ISHARES RUSSELL MIDCAP	FMV	196,635	196,635
ISHARES TR CORE MSCI EAF	FMV	79,246	79,246
ISHARES TR CORE MSCI EAF	FMV	121,046	121,046
VANGUARD DIVIDEND	FMV	392,876	392,876

- TIN:

TY 2020 OtherAssetsSchedule

Name:

ARIZONA FOUNDATION FOR EDUCATIONAL

ADVANCEMENT

EIN:

86-0664560

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
INTEREST RECEIVABLE	20,449	18,024	18,024

- TIN:

TY 2020 OtherExpensesSchedule

Name:

ARIZONA FOUNDATION FOR EDUCATIONAL

ADVANCEMENT

EIN:

86-0664560

Description	Revenue and Expenses per Books	Disbursements for Charitable Purposes
INSURANCE	984	984
DUES AND SUBSCRIPTIONS	3,335	3,335
BANK & PROCESSING FEES	62	62
POSTAGE, MAILING SERVICE	226	226
REIMBURSEMENT	1,008	1,008

- TIN:

TY 2020 OtherIncreasesSchedule

Name:

ARIZONA FOUNDATION FOR EDUCATIONAL

ADVANCEMENT

EIN:

86-0664560

Description	Amount
UNREALIZED GAIN	504,094

- TIN:

TY 2020 OtherLiabilitiesSchedule

Name:

ARIZONA FOUNDATION FOR EDUCATIONAL

ADVANCEMENT

EIN:

86-0664560

Description	Beginning of Year - Book Value	End of Year - Book Value
ACCRUED FEES	8,865	7,384
DEFERRED TAX LIABILITY	39,704	46,711

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

ARIZONA FOUNDATION FOR EDUCATIONAL

ADVANCEMENT

EIN:

86-0664560

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES	99,796	99,796		0
PAYROLL PROCESSING	1,789	89		1,700

- TIN:

TY 2020 TaxesSchedule

Name:

ARIZONA FOUNDATION FOR EDUCATIONAL

ADVANCEMENT

EIN:

86-0664560

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
FOREIGN DIVIDEND TAX	9,349	9,349	0
PAYROLL TAXES	8,101	405	7,696
EXCISE TAX	15,495	0	0