Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
TRIO FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)800 NORTH MICHIGAN AVENUE NO 4701
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHICAGO, IL60611
A Employer identification number

26-1115900
B Telephone number (see instructions)

(312) 917-7795
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$4,471,673J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 274 274  
4 Dividends and interest from securities... 39,979 39,979  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 73,104
b Gross sales price for all assets on line 6a 2,113,432
7 Capital gain net income (from Part IV, line 2)... 73,104
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........ 113,357 113,357  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 377 377   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 15,175 15,160   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 15,552 15,537   0
25 Contributions, gifts, grants paid....... 320,000 320,000
26 Total expenses and disbursements. Add lines 24 and 25 335,552 15,537   320,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -222,195
b Net investment income (if negative, enter -0-) 97,820
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 147,975 1,869,958 1,869,958
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 1,437,267 Click to see attachment1,435,429 2,501,715
c Investments—corporate bonds (attach schedule)....... 2,042,340 0 0
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment0 Click to see attachment100,000 Click to see attachment100,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,627,582 3,405,387 4,471,673
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 3,627,582 3,405,387
29 Total net assets or fund balances (see instructions)..... 3,627,582 3,405,387
30 Total liabilities and net assets/fund balances (see instructions). 3,627,582 3,405,387
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
3,627,582
2
Enter amount from Part I, line 27a .....................
2
-222,195
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
3,405,387
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
3,405,387
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES P    
b CAPITAL GAINS DIVIDENDS P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 2,112,882   2,040,328 72,554
b 550     550
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       72,554
b       550
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 73,104
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 1,360
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 1,360
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 1,360
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 1,971
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 1,971
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 611
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet611 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIL
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletANN L AMBOIAN Telephone no.bullet (312) 917-7795

    Located atbullet45 INDIAN HILL ROADWINNETKAIL ZIP+4bullet60093
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    ANN L AMBOIAN PRESIDENT & DIRECTOR
    3.00     		0 0 0
    45 INDIAN HILL ROAD
    WINNETKA,IL60093
    JOHN P AMBOIAN JR VICE-PRESIDENT, TREASURER
    1.00     		0 0 0
    45 INDIAN HILL ROAD
    WINNETKA,IL60093
    MICHAEL S LEE SECRETARY & DIRECTOR
    1.00     		0 0 0
    1504 WALTERS AVENUE
    NORTHBROOK,IL60062
    ANDREW L AMBOIAN DIRECTOR
    1.00     		0 0 0
    45 INDIAN HILL ROAD
    WINNETKA,IL60093
    ALEXANDER AMBOIAN DIRECTOR
    1.00     		0 0 0
    45 INDIAN HILL ROAD
    WINNETKA,IL60093
    MADISON AMBOIAN DIRECTOR
    1.00     		0 0 0
    45 INDIAN HILL ROAD
    WINNETKA,IL60093
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    176,404
    b
    Average of monthly cash balances.......................
    1b
    6,166
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    182,570
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    182,570
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    2,739
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    179,831
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    8,992
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    8,992
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    1,360
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,360
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    7,632
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    7,632
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    7,632
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    320,000
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    320,000
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    320,000
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 7,632
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 102,784
    b From 2016...... 54,151
    c From 2017...... 126,817
    d From 2018...... 104,948
    e From 2019...... 101,811
    fTotal of lines 3a through e........ 490,511
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 320,000
    a Applied to 2019, but not more than line 2a 0
    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..... 7,632
    e Remaining amount distributed out of corpus 312,368
    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 5 802,879
    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 ..........     		0
    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) ...     		102,784
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		700,095
    10 Analysis of line 9:
    a Excess from 2016.... 54,151
    b Excess from 2017.... 126,817
    c Excess from 2018.... 104,948
    d Excess from 2019.... 101,811
    e Excess from 2020.... 312,368
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    ANN L AMBOIAN
    JOHN P AMBOIAN JR
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ANN & ROBERT H LURIE CHILDREN'S HOSPITAL OF CHICAGO
    225 EAST CHICAGO AVENUE
    CHICAGO,IL60611     		N/A PUBLIC CHARITY GENERAL - UNRESTRICTED 15,000
    NORTH SHORE COUNTRY DAY SCHOOL
    310 GREEN BAY ROAD
    WINNETKA,IL60093     		N/A PUBLIC CHARITY GENERAL - UNRESTRICTED 40,000
    UNIVERSITY OF CHICAGO
    5801 SOUTH ELLIS AVENUE
    CHICAGO,IL60637     		N/A PUBLIC CHARITY GENERAL - UNRESTRICTED 100,000
    UNIVERSITY OF CHICAGO BOOTH SCHOOL
    5801 SOUTH ELLIS AVENUE
    CHICAGO,IL60637     		N/A PUBLIC CHARITY GENERAL - UNRESTRICTED 100,000
    GREATER CHICAGO FOOD DEPOSITORY
    4100 WEST ANN LURIE PLACE
    CHICAGO,IL60632     		N/A PUBLIC CHARITY GENERAL - UNRESTRICTED 10,000
    TEAM ENGLEWOOD
    815 W 63RD STREET 2ND FLOOR
    CHICAGO,IL60621     		N/A PUBLIC CHARITY GENERAL - INRESTRICTED 55,000
    Total .................................bullet 3a 320,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 274  
    4 Dividends and interest from securities....     14 39,979  
    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    
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 73,104  
    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).. 0 113,357 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    113,357
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    TRIO FOUNDATION
    EIN:
    26-1115900
    Name of Stock End of Year Book Value End of Year Fair Market Value
    13.0000 AMAZON COM INC COM 8,714 42,340
    14.0000 AMAZON COM INC COM 7,691 45,597
    9.0000 AMAZON COM INC COM 15,741 29,312
    17.0000 PROLOGIS INC 1,000 1,694
    128.0000 PROLOGIS INC 8,326 12,756
    57.0000 PROLOGIS INC 4,545 5,681
    64.0000 AMERICAN TOWER REIT INC 6,026 14,365
    53.0000 AMERICAN TOWER REIT INC 6,149 11,896
    19,0000 AMERICAN TOWER REIT INC 1,983 4,265
    83.0000 ALIBABA GROUP HOLDING LT 14,449 19,317
    15.0000 ALPHABET INC SHS CL A 11,555 26,290
    12.0000 ALPHABET INC SHS CL A 8,716 21,032
    26.0000 ALPHABET INC SHS CL A 27,572 45,569
    444.0000 APPLE INC 11,136 58,914
    124.0000 APPLE INC 5,744 16,454
    216.0000 APPLE INC 10,752 28,661
    64.0000 APPLE INC 3,043 8,492
    2.0000 BLACKROCK INC 657 1,443
    22.0000 BLACKROCK INC 7,049 15,874
    141.0000 BAXTER INTERNTL INC 11,163 11,314
    7.0000 BAXTER INTERNTL INC 554 562
    21.0000 BAXTER INTERNTL INC 1,582 1,685
    201.0000 CAPITAL ONE FINL 19,336 19,869
    90.0000 COSTCO WHOLESALE CRP DEL 5,070 33,910
    26.0000 COSTCO WHOLESALE CRP DEL 3,930 9,796
    2.0000 COSTCO WHOLESALE CRP DEL 297 754
    11,0000 CONSTELLATION BRANDS INC 2,283 2,410
    1.0000 CONSTELLATION BRANDS INC 189 219
    11.0000 CONSTELLATION BRANDS INC 1,998 2,410
    58.0000 CONSTELLATION BRANDS INC 11,671 12,705
    26.0000 CHUBB LTD 1,893 4,002
    65.0000 CHUBB LTD 7,374 10,005
    30.0000 CHUBB LTD 3,503 4,618
    37.0000 CHUBB LTD 4,842 5,695
    39.0000 CISCO SYSTEMS INC COM 1,906 1,745
    737.0000 COCA COLA COM 37,956 40,417
    34.0000 DANAHER CORP DEL COM 2,342 7,553
    71.0000 DANAHER CORP DEL COM 4,785 15,772
    14.0000 DANAHER CORP DEL COM 1,211 3,110
    34.0000 DANAHER CORP DEL COM 3,720 7,553
    29.0000 DISNEY (WALT) CO COM STK 2,790 5,254
    87.0000 DISNEY (WALT) CO COM STK 8,580 15,763
    87.0000 DISNEY (WALT) CO COM STK 10,097 15,763
    40.0000 DISNEY (WALT) CO COM STK 4,459 7,247
    21.0000 DISNEY (WALT) CO COM STK 2,904 3,805
    105.0000 FIDELITY NATL INFO SVCS 13,758 14,853
    18.0000 HONEYWELL INTL INC DEL 755 3,829
    30.0000 HONEYWELL INTL INC DEL 1,670 6,381
    29.0000 HONEYWELL INTL INC DEL 2,976 6,168
    10.0000 HONEYWELL INTL INC DEL 1,019 2,127
    4.0000 HONEYWELL INTL INC DEL 600 851
    164.0000 HOME DEPOT INC 32,438 43,562
    754.0000 KEURIG DR PEPPER INC 19,630 24,128
    50.0000 LOCKHEED MARTIN CORP 10,483 17,749
    24.0000 LOCKHEED MARTIN CORP 5,185 8,520
    5.0000 LOCKHEED MARTIN CORP 1,348 1,775
    10.0000 LOCKHEED MARTIN CORP 3,680 3,550
    89.0000 LULULEMON ATHLETICA INC 13,402 30,975
    154.0000 MCDONALDS CORP COM 28,806 33,045
    121.0000 MICROSOFT CORP 6,704 26,913
    32.0000 MICROSOFT CORP 1,648 7,117
    123.0000 MICROSOFT CORP 6,308 27,358
    63.0000 MICROSOFT CORP 3,796 14,012
    34.0000 MICROSOFT CORP 3,245 7,562
    206.0000 MICROSOFT CORP 22,095 45,819
    624.0000 NEXTERA ENERGY INC SHS 32,331 48,142
    155.0000 ROSS STORES INC COM 16,489 19,036
    188.0000 SALESFORCE COM INC 22,074 41,836
    49.0000 SVB FINL GROUP 12,303 19,004
    289.0000 SPLUNK INC 28,849 49,098
    12.0000 ANTHEM INC 2,280 3,853
    17.0000 ANTHEM INC 4,066 5,459
    110.0000 SYSCO CORPORATION 5,744 8,169
    207.0850 TRUIST FINL CORP 9,583 9,926
    23.3100 TRUIST FINL CORP 1,068 1,117
    24.6050 TRUIST FINL CORP 1,319 1,179
    383.0000 TWILIO INC CL A 43,449 129,646
    120.0000 THERMO FISHER SCIENTIFIC 8,743 55,894
    61.0000 VISA INC CL A SHRS 1,530 13,343
    48.0000 VISA INC CL A SHRS 1,553 10,499
    51.0000 VISA INC CL A SHRS 3,563 11,155
    139.0000 ZOETIS INC 14,721 23,005
    224.0000 WORKDAY INC CL A" 28,294 53,673
    217.0000 WALMART INC 17,364 31,281
    24.0000 WALMART INC 2,478 3,460
    74.0000 WALMART INC 6,407 10,667
    98.0000 AIR PRODUCTS&CHEM 19,885 26,776
    480.0000 ALLIANT ENERGY CORP 21,930 24,734
    115.0000 AMGEN INC COM 22,020 26,441
    142.0000 AUTOMATIC DATA PROC 21,895 25,020
    80.0000 BROADCOM LTD 21,859 35,028
    401.0000 BANK OF NOVA SCOTIA 21,925 21,670
    217.0000 CME GROUP INC 15,199 39,505
    200.0000 CORESITE REALTY CORP 22,701 25,056
    51.0000 CROWN CASTLE REIT INC 4,764 8,119
    76.0000 CROWN CASTLE REIT INC 7,096 12,098
    37.0000 CROWN CASTLE REIT INC 3,466 5,890
    79.0000 CROWN CASTLE REIT INC 7,445 12,576
    373.0000 CISCO SYSTEMS INC COM 10,004 16,692
    336.0000 CISCO SYSTEMS INC COM 9,282 15,036
    30.0000 DOMINION ENERGY INC 2,364 2,256
    117.0000 DOMINION ENERGY INC 9,187 8,798
    229.0000 DOMINION ENERGY INC 16,520 17,221
    251.0000 DIGITAL RLTY TR INC 9,577 35,017
    590.0000 ENBRIDGE INC COM 21,963 18,874
    201.0000 EPR PPTYS 10,075 6,533
    95.0000 EPR PPTYS 3,687 3,088
    115.0000 EPR PPTYS 4,747 3,738
    163.0000 INTL BUSINESS MACHINES 22,396 20,518
    210.0000 JPMORGAN CHASE & CO 21,944 26,685
    1,352.0000 KINDER MORGAN INC. DEL 19,908 18,482
    172.0000 KINDER MORGAN INC. DEL 2,519 2,351
    190.0000 KIMBERLY CLARK 21,940 25,618
    44.0000 LOCKHEED MARTIN CORP 3,618 15,619
    55.0000 LOCKHEED MARTIN 5,047 19,524
    150.0000 MICROSOFT CORP 20,163 33,363
    468.0000 NEXTERA ENERGY INC SHS 21,907 36,106
    561.0000 NEW RESIDENTIAL INVT 8,651 5,576
    907.0000 NEW RESIDENTIAL INVT 16,099 9,016
    284.0000 PAYCHEX INC 21,998 26,463
    190.0000 PEPSICO INC 22,011 28,177
    478.0000 PFIZER INC 7,415 17,595
    70.0000 PFIZER INC 1,452 2,577
    125.0000 PFIZER INC 2,836 4,601
    459.0000 QUALCOMM INC 24,377 69,924
    126.0000 SIMON PROPERTY GROUP DEL 22,104 10,745
    290.0000 STARWOOD PPTY TR INC 4,477 5,597
    320.0000 STARWOOD PPTY TR INC 4,489 6,176
    215.0000 STARWOOD PPTY TR INC 3,759 4,150
    309.0000 STARBUCKS CORP 21,924 33,057
    226.0000 SYSCO CORPORATION 17,076 16,783
    206.0000 TEXAS INSTRUMENTS 22,007 33,811
    424.0000 TARGET CORP COM 24,140 74,849
    58.8046 VIATRIS INC 405 1,102
    8.6855 VIATRIS INC 80 163
    15.5099 VIATRIS INC 156 291
    196.0000 UNITED PARCEL SVC CL B 21,903 33,006

    TY 2020 OtherAssetsSchedule
    Name:
    TRIO FOUNDATION
    EIN:
    26-1115900
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    RISEKIT, INC. - PRIVATE EQUITY INVESTMENT   100,000 100,000


    TY 2020 OtherExpensesSchedule
    Name:
    TRIO FOUNDATION
    EIN:
    26-1115900
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 15,160 15,160   0
    ILLINOIS ATTORNEY GENERAL - REGISTRATION FEE 15 0   0


    TY 2020 TaxesSchedule
    Name:
    TRIO FOUNDATION
    EIN:
    26-1115900
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAX PAID 377 377   0