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
BETHLEHEM FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)3111 MONTECITO MEADOW DRIVE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SANTA ROSA, CA95404
A Employer identification number

46-4009968
B Telephone number (see instructions)

(855) 241-6645
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$18,552,939J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 522,980 522,980  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 248,218
b Gross sales price for all assets on line 6a 3,900,189
7 Capital gain net income (from Part IV, line 2)... 248,218
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........ 771,198 771,198  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 18,000 0   18,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 182 0   182
b Accounting fees (attach schedule)....... Click to see attachment 1,400 0   1,400
c Other professional fees (attach schedule).... Click to see attachment 116,421 98,174   18,247
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 16,804 8,507   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 898 0   898
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 5,765 0   5,765
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 159,470 106,681   44,492
25 Contributions, gifts, grants paid....... 750,993 750,993
26 Total expenses and disbursements. Add lines 24 and 25 910,463 106,681   795,485
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -139,265
b Net investment income (if negative, enter -0-) 664,517
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............. 38,728 16,900 16,900
2 Savings and temporary cash investments......... 905,994 566,496 566,496
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) bullet1,500,000
Less: allowance for doubtful accounts bullet0 1,500,000 1,500,000 1,063,000
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,374,198 Click to see attachment1,374,334 1,437,298
b Investments—corporate stock (attach schedule)....... 8,091,533 Click to see attachment8,039,948 12,204,892
c Investments—corporate bonds (attach schedule)....... 2,624,143 Click to see attachment3,141,381 3,264,353
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 234,280 0 0
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 14,768,876 14,639,059 18,552,939
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........ 14,768,876 14,639,059
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 14,768,876 14,639,059
30 Total liabilities and net assets/fund balances (see instructions). 14,768,876 14,639,059
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
14,768,876
2
Enter amount from Part I, line 27a .....................
2
-139,265
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
9,448
4
Add lines 1, 2, and 3 ..........................
4
14,639,059
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
14,639,059
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 TRADE SECURITIES      
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 3,885,229   3,651,971 233,258
b 14,960     14,960
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       233,258
b       14,960
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 2 248,218
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 9,237
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 9,237
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 9,237
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 7,361
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 7,361
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 37
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 1,913
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet   RefundedBullet 11  
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)
    bulletCA
    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 ofbulletWELLS FARGO BANK NC Telephone no.bullet (855) 241-6645

    Located atbullet100 N MAIN ST D4001-065WINSTONSALEMNC ZIP+4bullet27101
    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
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    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
    MARK JERPBAK PRESIDENT
    5.00     		3,750 0 0
    1525 W WT HARRIS BLVD
    CHARLOTTE,NC28262
    DUANE JENSEN SECRETARY
    5.00     		3,750 0 0
    1525 W WT HARRIS BLVD
    CHARLOTTE,NC28262
    TOM TORGERSON BOARD MEMBER
    5.00     		3,750 0 0
    1525 W WT HARRIS BLVD
    CHARLOTTE,NC28262
    RICHARD VOGEL BOARD MEMBER
    5.00     		3,750 0 0
    1525 W WT HARRIS BLVD
    CHARLOTTE,NC28262
    JAMES JERPBAK BOARD MEMBER
    5.00     		3,000 0 0
    1525 W WT HARRIS BLVD
    CHARLOTTE,NC28262
    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
    WELLS FARGO BANK INVT MGMT/GRANT ADMIN 117,102
    100 N MAIN ST
    WINSTON SALEM,NC27101
    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
    14,896,530
    b
    Average of monthly cash balances.......................
    1b
    910,982
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    15,807,512
    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
    15,807,512
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    237,113
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    15,570,399
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    778,520
    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
    778,520
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    9,237
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    9,237
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    769,283
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    769,283
    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
    769,283
    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
    795,485
    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
    795,485
    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
    795,485
    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 7 769,283
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 763,358
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 795,485
    a Applied to 2019, but not more than line 2a 763,358
    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..... 32,127
    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 ..........     		737,156
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    WELLS FARGO PHILANTHROPIC SERVICES
    1 W 4TH STREET
    WINSTONSALEM,NC27101
    (855) 241-6645
    GRANTADMINISTRATION@WELLSFARGO.COM
    bThe form in which applications should be submitted and information and materials they should include:
    APPLY ONLINE AT WWW.WELLSFARGO.COM/PRIVATEFOUNDATIONGRANTS/BETHLEHEM
    cAny submission deadlines:
    FEBRUARY 28 AND AUGUST 31
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE BETHLEHEM FOUNDATION PROMOTES AN ENHANCED QUALITY OF LIFE FOR SENIOR RESIDENTS OF SONOMA COUNTY, CALIFORNIA. QUALIFYING 501(C)(3) ORGANIZATIONS THAT WILL PROMOTE AN ENHANCED QUALITY OF LIFE FOR RESIDENTS OF NORTHERN CALIFORNIA - PROMOTING OR SUPPORTING IMPROVED HEALTH, EDUCATION AND WELFARE.
    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
    REDWOOD EMPIRE FOOD BANK
    3990 BRICKWAY BLVD
    SANTA ROSA,CA95403     		NONE PC SENIOR SECURITY INITIATIVE 55,000
    COMMUNITIES ADVOCATING FOR RESIDENT EMPOWERMENT INC
    531 ENCINITAS BLVD
    ENCINITAS,CA92024     		NONE PC WYNDHAM VILLAGE & BETHLEHEM TOWERS 106,318
    SEBASTOPOL AREA SENIOR CENTER
    167 N HIGH STREET
    SEBASTAPOL,CA95472     		NONE PC WORKSHOP/ FLD TRIP/SAIL FALL PREV & SPONSORSHIPS FOR CLASS/WORKSHOP/FIELD TRIP AND 45,000
    COMMITTEE ON THE SHELTERLESS
    PO BOX 2744
    PETALUMA,CA94953     		NONE PC COTS OUTREACH AND MARY ISAAK CENTER EMERGENCY SHELTER PROGRAMS 20,000
    FOOD FOR THOUGHT
    6550 RAILROAD AVE
    FORESTVILLE,CA95436     		NONE PC SENIOR NUTRITION PROGRAM 20,000
    GIANT STEPS THERAPEUTIC EQUESTRIAN CENTER INC
    1320 COMMERCE STREET STE A
    PETALUMA,CA94954     		NONE PC SONOMA SENIORS: SUMMER & FALL 2020 10,800
    PETALUMA ECUMENICAL PROPERTIES
    951 PETALUMA BLVD SO
    PETALUMA,CA94952     		NONE PC EMERGENCY PREPAREDNESS 41,500
    SHARED HOUSING AND RESOURCE EXCHANGE CALIFORNIA
    411 RUSSELL AVE
    SANTA ROSA,CA95403     		NONE PC SHARE SONOMA COUNTY HOME SHARING PROGRAM 15,000
    CANINE COMPANIONS FOR INDEPENDENCE INC
    2965 DUTTON AVE
    SANTA ROSA,CA95402     		NONE PC ASSISTANCE DOGS FOR SONOMA COUNTY SENIORS 20,000
    CERES COMMUNITY PROJECT
    7351 BODEGA AVE
    SEBASTOPOL,CA95472     		NONE PC HEALING MEALS FOR HEALTHY COMMUNITIES 10,000
    COMMUNITY & FAMILY SERVICE AGENCY
    16390 MAIN STREET
    GUERNEVILLE,CA95446     		NONE PC COVID SENIOR HOME HEALTH AND HOUSING SUPPORT 37,375
    EARLE BAUM CENTER OF THE BLIND INC
    4539 OCCIDENTAL ROAD
    SANTA ROSA,CA95401     		NONE PC UNRESTRICTED 25,000
    F I S H OF THE SANTA ROSA AREA INC
    PO BOX 4291
    SANTA ROSA,CA95402     		NONE PC F.I.S.H. SENIOR PROJECT 15,000
    SANTA ROSA SYMPHONY ASSOCIATION
    50 SANTA ROSA AVE STE 410
    SANTA ROSA,CA95404     		NONE PC SANTA ROSA SYMPHONY 2020-2021 SEASON 25,000
    SONOMA COUNTY VET CONNECT INC
    1351 MAPLE AVE
    SANTA ROSA,CA95404     		NONE PC VETERAN'S ASSISTANCE 10,000
    SONOMA STATE UNIVERSITY
    1801 EAST COTATI AVENUE
    ROHNERT PARK,CA94928     		NONE PC GREEN MUSIC CENTER AT SONOMA STATE UNIVERSITY: SERVING SENIORS 25,000
    VINTAGE HOUSE SENIOR MULTI- PURPOSE CENTER OF SONOMA VALLEY
    264 1ST E
    SONOMA,CA95476     		NONE PC VITAL SERVICES FOR SONOMA VALLEY SENIORS 20,000
    ST JOSEPH HEALTH NORTHERN CALIFORNIA LLC
    439 COLLEGE AVENUE
    SANTA ROSA,CA95401     		NONE PC HOSPICE HOUSE 250,000
    Total .................................bullet 3a 750,993
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 522,980  
    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 ............     		    18 248,218  
    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).. 0 771,198 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    771,198
    (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 AccountingFeesSchedule
    Name:
    BETHLEHEM FOUNDATION
    EIN:
    46-4009968
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREP 1,400 0   1,400

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    BETHLEHEM FOUNDATION
    EIN:
    46-4009968
    Name of Bond End of Year Book Value End of Year Fair Market Value
    002824BQ2 ABBOTT LABORATORIES 100,405 101,451
    00440EAR8 ACE INA HOLDINGS 49,479 54,586
    023135AN6 AMAZON.COM INC 99,864 112,414
    0258M0EG0 AMERICAN EXPRESS CRE 49,984 51,282
    03076CAF3 AMERIPRISE FINANCIAL 53,347 55,108
    037833AR1 APPLE INC 51,241 50,407
    05531FBE2 BB&T CORPORATION 49,577 56,533
    06366RJJ5 BANK OF MONTREAL 49,891 51,993
    06406HCQ0 BANK OF NEW YORK MEL 104,495 116,330
    064159VL7 BANK OF NOVA SCOTIA 100,347 102,605
    191216CV0 COCA-COLA CO/THE 25,358 25,679
    20030NBW0 COMCAST CORP 51,976 53,801
    35952Q106 FUCHS PETROLUB SE 3,757 3,942
    369550BG2 GENERAL DYNAMICS COR 24,893 27,945
    416515BE3 HARTFORD FINL SVCS GRP 53,926 54,319
    46124HAC0 INTUIT INC 50,568 51,158
    478160BT0 JOHNSON & JOHNSON 49,755 51,795
    501044CZ2 KROGER CO/THE 50,547 50,972
    594918BX1 MICROSOFT CORP 51,003 53,708
    61761JVL0 MORGAN STANLEY 50,935 55,640
    67021CAG2 NSTAR ELECTRIC CO 99,346 103,015
    693475AZ8 PNC FINANCIAL SERVICES 50,933 54,778
    713448EL8 PEPSICO INC 25,488 27,598
    717081EA7 PFIZER INC 49,582 56,466
    74256W485 PRINCIPAL PREFERRED 319,467 324,776
    759351AP4 REINSURANCE GRP OF AMER 53,228 54,671
    828807DF1 SIMON PROPERTY GROUP 49,244 52,517
    86562MAX8 SUMITOMO MITSUI FINL 24,413 26,376
    867914BM4 SUNTRUST BANKS INC 25,234 25,590
    87234N765 TCW EMRG MKTS INCM-I 220,411 226,038
    902133AR8 TYCO ELECTRONICS GRO 25,396 27,058
    902494BJ1 TYSON FOODS INC 25,316 28,757
    91159HHC7 US BANCORP 51,355 51,531
    922031760 VANGUARD HIGH YIELD 826,282 852,852
    92277GAD9 VENTAS REALTY LP 50,778 54,509
    AGILITY MULTI-ASSET INCOME FUND 123,560 116,153

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    BETHLEHEM FOUNDATION
    EIN:
    46-4009968
    Name of Stock End of Year Book Value End of Year Fair Market Value
    00123Q104 AGNC INVESTMENT CORP 14,926 16,318
    001317205 AIA GROUP LTD-SP ADR 18,949 30,166
    00143W859 INV OPP DEVELOP MRKT 700,000 1,014,168
    00206R102 AT & T INC 145,887 130,427
    00687A107 ADIDAS-AG ADR 9,018 14,090
    00783V104 ADYEN N.V. 16,635 35,914
    00846U101 AGILENT TECHNOLOGIES INC 4,275 4,384
    009126202 AIR LIQUIDE - ADR 5,772 8,223
    009158106 AIR PRODS & CHEMS IN 8,434 9,836
    015271109 ALEXANDRIA REAL ESTA 24,305 33,684
    015393101 ALFA LAVAL AB-UNSPON 7,029 9,221
    01609W102 ALIBABA GROUP HOLDING LTD. 10,819 12,335
    018820100 ALLIANZ SE 18,187 21,224
    02079K107 ALPHABET INC CL C 122,594 351,433
    02319V103 AMBEV SA-SPN ADR 11,390 9,844
    02665T306 AMERICAN HOMES 4 REN 25,420 27,390
    03027X100 AMERICAN TOWER CORP 48,111 66,440
    031162100 AMGEN INC 71,918 68,946
    03662Q105 ANSYS INC 20,601 31,287
    037833100 APPLE INC 60,396 520,808
    049255706 ATLAS COPCO AB ADR 13,995 26,715
    052769106 AUTODESK INC 28,028 47,633
    05946K101 BANCO BILBAO VIZCAYA 20,586 13,303
    09215C105 BLACK KNIGHT INC 30,945 40,288
    09247X101 BLACKROCK INC 88,576 198,424
    09260C703 BLACKROCK GL L/S CRE 295,051 285,921
    09260D107 BLACKSTONE GROUP INC/THE 64,953 80,040
    097023105 BOEING CO 40,695 62,077
    09857L108 BOOKING HOLDINGS INC 47,940 66,818
    109194100 BRIGHT HORIZONS FAMILY SOLUTIO 6,356 7,958
    11135F101 BROADCOM INC 116,199 186,086
    112585104 BROOKFIELD ASSET MAN 53,713 67,394
    11275Q107 BROOKFIELD INFRASTRUCTURE-A 12,799 21,762
    11282X103 BROOKFIELD PROPERTY 3,274 2,913
    11284V105 BROOKFIELD RENEWABLE CORP 1,462 2,273
    115236101 BROWN & BROWN INC 16,944 21,761
    115637209 BROWN FORMAN CORP CL 6,715 8,737
    12504L109 CBRE GROUP INC 24,370 31,235
    126650100 CVS HEALTH CORPORATION 107,169 117,818
    133131102 CAMDEN PPTY TR SH BE 23,556 26,779
    136375102 CANADIAN NATL RR CO 6,087 8,349
    13765N107 CANNAE HOLDINGS INC 2,827 3,497
    143130102 CARMAX INC 39,829 44,302
    150870103 CELANESE CORP 96,724 175,419
    171269103 CHUGAI PHARMACEUTIC- 7,069 17,902
    17275R102 CISCO SYSTEMS INC 86,738 156,625
    172967424 CITIGROUP INC. 113,863 129,486
    192422103 COGNEX CORP 2,054 3,131
    194014106 COLFAX CORPORATION 4,061 5,583
    217204106 COPART INC COM 31,022 48,864
    21870Q105 CORESITE REALTY CORP 22,430 25,307
    22160N109 COSTAR GROUP, INC 26,002 35,123
    225310101 CREDIT ACCEPTANCE CO 22,764 20,768
    23304Y100 DBS GROUP HOLDINGS L 17,563 21,750
    237545108 DASSAULT SYSTEMES S. 19,000 26,884
    25243Q205 DIAGEO PLC - ADR 93,539 131,178
    254687106 WALT DISNEY CO 63,527 181,180
    256677105 DOLLAR GENERAL CORP 5,962 7,781
    25754A201 DOMINOS PIZZA INC 16,361 20,323
    285512109 ELECTRONIC ARTS INC 93,259 125,650
    29429L105 EPIROC AB-UNSP ADR 7,057 12,235
    29444U700 EQUINIX INC 55,748 83,559
    307305102 FANUC CORPORATION AD 7,372 8,197
    311900104 FASTENAL CO 15,029 20,802
    313747206 FEDERAL RLTY INVT TR SH BEN INT 15,934 15,577
    31620M106 FIDELITY NATL INFORMATION SVCS INC 70,214 81,340
    31620R303 FNF GROUP 20,238 20,767
    33616C100 FIRST REPUBLIC BANK/ 9,149 13,518
    344419106 FOMENTO ECONOMICO ME 13,302 12,275
    35086T109 FOUR CORNERS PROPERT 28,693 35,516
    366651107 GARTNER INC 25,566 28,193
    375558103 GILEAD SCIENCES INC 51,303 58,260
    40171V100 GUIDEWIRE SOFTWARE I 19,663 24,330
    40415F101 HDFC BANK LTD. - ADR 6,044 9,683
    405217100 HAIN CELESTIAL GROUP INC 53,683 77,289
    421946104 HEALTHCARE RLTY TR C 22,845 20,246
    422806208 HEICO CORP CL A 14,276 19,315
    43300A203 HILTON WORLDWIDE HOL 32,438 40,832
    44107P104 HOST HOTELS & RESORT 21,737 19,253
    44267D107 HOWARD HUGHES CORP/T 14,789 12,787
    448579102 HYATT HOTELS CORP 9,350 10,172
    45104G104 ICICI BANK LTD. - AD 7,099 11,769
    45168D104 IDEXX CORP 12,961 22,494
    45662N103 INFINEON TECHNOLOGIE 16,634 38,781
    460690100 INTERPUBLIC GROUP COS INC 71,610 70,560
    46187W107 INVITATION HOMES INC 24,961 30,650
    464287804 ISHARES CORE S&P SMA 159,357 275,700
    465562106 ITAU UNIBANCO H-SPON 12,060 13,623
    46625H100 JPMORGAN CHASE & CO 67,181 158,838
    48251W104 KKR & CO INC -A 31,625 45,713
    489398107 KENNEDY-WILSON HOLDI 7,506 7,711
    5% HOLDBACK - CORBIN MULTI-STRATEGY FUND LLC 5,555 5,555
    500458401 KOMATSU LIMITED - AD 8,047 11,654
    501173207 KUBOTA LIMITED - ADR 10,060 14,013
    502117203 LOREAL - ADR 14,869 25,053
    512807108 LAM RESEARCH CORP CO 74,631 236,135
    517834107 LAS VEGAS SANDS CORP 67,219 80,460
    526057104 LENNAR CORPORATION C 14,737 21,039
    530307107 LIBERTY BROADBAND CO 6,451 9,140
    530307305 LIBERTY BROADBAND CO 27,729 38,763
    531229409 LIBERTY SIRIUSXM GRO 3,394 3,887
    531229607 LIBERTY SIRIUSXM GRO 8,670 10,486
    531229854 LIBERTY FORMULA ONE 12,116 13,888
    531229870 LIBERTY FORMULA ONE 954 1,026
    532457108 ELI LILLY & CO COM 59,075 122,409
    538034109 LIVE NATION ENTERTAINMENT INC 15,531 22,779
    54338V101 LONZA GROUP AG ADR 10,085 21,915
    55261F104 M & T BANK CORPORATI 5,915 5,219
    55354G100 MSCI INC 10,403 16,522
    56501R106 MANULIFE FINANCIAL C 70,725 89,100
    570535104 MARKEL HOLDINGS 35,664 35,132
    573284106 MARTIN MARIETTA MATL 15,623 20,162
    58933Y105 MERCK & CO INC NEW 61,886 98,160
    589509207 THE MERGER FUND CLASS INST #301 151,045 150,000
    592688105 METTLER-TOLEDO INTL 17,573 25,073
    594918104 MICROSOFT CORP 98,811 511,566
    595017104 MICROCHIP TECHNOLOGY 18,751 28,313
    59522J103 MID AMERICA APARTMEN 26,300 26,985
    609207105 MONDELEZ INTERNATION 95,174 132,727
    615369105 MOODYS CORP 12,312 15,383
    620076307 MOTOROLA SOLUTIONS, 14,531 15,475
    641069406 NESTLE S.A. REGISTER 14,037 18,612
    64128R608 NEUBERGER BERMAN LONG SHORT FUND 250,000 269,643
    654106103 NIKE INC CL B 58,957 162,691
    65479L108 NIROTI HOLDINGS CO., LTD. 5,767 8,790
    670108109 NOVOZYMES A/S UNSPON 6,647 7,020
    67103H107 OREILLY AUTOMOTIVE 32,322 37,111
    69343P105 LUKOIL PJSC-SPON ADR 10,305 8,340
    72341E304 PING AN INSURANCE-AD 10,761 12,544
    743315103 PROGRESSIVE CORP OHI 9,203 11,668
    74340W103 PROLOGIS INC 39,078 58,999
    75513E101 RAYTHEON TECHNOLOGIES CORP 81,607 76,873
    75606N109 REALPAGE INC 16,422 22,595
    76131D103 RESTAURANT BRANDS IN 28,331 26,338
    767204100 RIO TINTO PLC - ADR 12,131 17,827
    771195104 ROCHE HOLDINGS LTD 17,573 23,104
    776696106 ROPER TECHNOLOGIES I 25,188 29,314
    778296103 ROSS STORES INC 9,655 13,018
    779572502 T. ROWE PR SM-CAP ST 462,362 581,566
    780259107 ROYAL DUTCH SHELL PL 12,995 9,310
    78409V104 S&P GLOBAL INC 6,534 7,561
    78410G104 SBA COMMUNICATIONS C 67,800 80,690
    79466L302 SALESFORCE COM INC 37,381 111,265
    803054204 SAP SE ADR 24,150 27,773
    80687P106 SCHNEIDER ELECTRIC S 12,979 20,294
    818800104 SGS SA ADR 6,446 7,741
    824667109 SHIONOGI & CO., LTD. 7,478 6,754
    828806109 SIMON PROPERTY GROUP 27,173 14,156
    83088V102 SLACK TECHNOLOGIES I 8,718 11,405
    83569C102 SONOVA HOLDIN-UNSPON 7,140 11,767
    852234103 SQUARE INC 3,461 10,447
    85254J102 STAG INDUSTRIAL INC 23,030 23,427
    86614U100 SUMMIT MATERIALS INC 5,880 6,506
    866674104 SUN CMNTYS INC COM 26,964 40,419
    867224107 SUNCOR ENERGY INC NE 122,124 69,637
    87155N109 SYMRISE AG 8,467 13,705
    871829107 SYSCO CORP 105,749 141,094
    87184P109 SYSMEX CORP-UNSPON A 8,525 14,917
    874039100 TAIWAN SEMICONDUCTOR 15,403 38,709
    87612E106 TARGET CORP 59,557 150,051
    88032Q109 TENCENT HOLDINGS LTD 15,482 22,286
    883556102 THERMO FISHER SCIENT 24,906 139,734
    891160509 TORONTO DOMINION BK 49,568 50,778
    89151E109 TOTAL SE 131,304 104,565
    893641100 TRANSDIGM GROUP INC 53,304 72,405
    89400J107 TRANSUNION 19,620 23,813
    902252105 TYLER TECHNOLOGIES INC 11,929 14,842
    90460M204 UNI CHARM CORPORATIO 13,874 19,132
    904767704 UNILEVER PLC - ADR 99,006 106,233
    907818108 UNION PACIFIC CORP 50,324 135,343
    911312106 UNITED PARCEL SERVIC 82,552 151,560
    91324P102 UNITEDHEALTH GROUP I 42,284 227,942
    91879Q109 VAIL RESORTS INC COM 20,812 27,059
    92343E102 VERISIGN INC COM 28,644 29,647
    92345Y106 VERISK ANALYTICS INC 17,697 23,458
    925652109 VICI PROPERTIES INC 37,377 42,560
    92826C839 VISA INC-CLASS A SHRS 76,074 98,429
    929042109 VORNADO REALTY TRUST 3,902 3,025
    929160109 VULCAN MATERIALS COM 31,720 37,374
    94106L109 WASTE MANAGEMENT INC 42,371 50,120
    95040Q104 WELLTOWER INC 19,674 24,426
    G0403H108 AON PLC 10,789 11,620
    G0450A105 ARCH CAPITAL GROUP L 21,590 22,616
    G29183103 EATON CORP PLC 59,065 60,070
    G47567105 IHS MARKIT LTD 16,399 22,098
    G5494J103 LINDE PLC 7,476 12,648
    G5960L103 MEDTRONIC PL 76,112 87,269
    H01301128 ALCON, INC. 10,498 11,085
    H2906T109 GARMIN LTD 71,978 89,147
    H84989104 TE CONNECTIVITY LTD 60,397 96,856
    M22465104 CHECK POINT SOFTWARE 16,458 19,804
    M98068105 WIX.COM LTD 25,303 36,244
    N97284108 YANDEX NV-A 3,780 7,584
    Y2573F102 FLEX LTD 81,446 90,260

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    BETHLEHEM FOUNDATION
    EIN:
    46-4009968
    US Government Securities - End of Year Book Value:

    1,374,334
    US Government Securities - End of Year Fair Market Value:

    1,437,298
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2020 LegalFeesSchedule
    Name:
    BETHLEHEM FOUNDATION
    EIN:
    46-4009968
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 182 0   182


    TY 2020 OtherExpensesSchedule
    Name:
    BETHLEHEM FOUNDATION
    EIN:
    46-4009968
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 5,000 0   5,000
    MEMBERSHIPS 765 0   765


    TY 2020 OtherIncreasesSchedule
    Name:
    BETHLEHEM FOUNDATION
    EIN:
    46-4009968
    Description Amount
    OTHER ADJUSTMENT TO ASSET BALANCES 9,448


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    BETHLEHEM FOUNDATION
    EIN:
    46-4009968
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    WELLS FARGO MGMT FEES 97,455 97,455   0
    GRANT ADMIN FEE 15,747 0   15,747
    VALUATION SVCS 2,500 0   2,500
    ADR FEE 719 719   0


    TY 2020 TaxesSchedule
    Name:
    BETHLEHEM FOUNDATION
    EIN:
    46-4009968
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 8,507 8,507   0
    FEDERAL ESTIMATES - PRINCIPAL 7,361 0   0
    PRIVATE FOUNDATION TAX 936 0   0