TY 2020 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0052

2020

Open to Public Inspection

For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020

Name of foundation
THE KELTON FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)1516 U STREET
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
WASHINGTON, DC200098004

A Employer identification number

52-1268434

B Telephone number (see instructions)

(310) 396-4514

C If exemption application is pending, check here bullet

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

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

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

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

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

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

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

$9,162,824J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	2		2	2
4	Dividends and interest from securities...	8,966		8,966	8,966
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		3,859,346
b	Gross sales price for all assets on line 6a 5,886,949
7	Capital gain net income (from Part IV, line 2)...			3,859,346
8	Net short-term capital gain.........				0
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).......		700	700	700
12	Total. Add lines 1 through 11........	3,869,014		3,869,014	9,668
13	Compensation of officers, directors, trustees, etc.	0		0	0	0
14	Other employee salaries and wages......	10,000		3,300	0	0
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		17,355	5,727	0	0
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		91,328	525	0	0
19	Depreciation (attach schedule) and depletion...		1,476	0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......	845		0	0	0
22	Printing and publications..........
23	Other expenses (attach schedule).......		234,363	10,731	0	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	355,367		20,283	0	0
25	Contributions, gifts, grants paid.......	2,525				2,525
26	Total expenses and disbursements. Add lines 24 and 25	357,892		20,283	0	2,525
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	3,511,122
b	Net investment income (if negative, enter -0-)			3,848,731
c	Adjusted net income (if negative, enter -0-)...				9,668

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2020)

Form 990-PF (2020)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	595,056	734,912	734,912
	2	Savings and temporary cash investments.........	1,562,284	6,843,423	6,745,145
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis 126,155
		Less: accumulated depreciation (attach schedule) 114,099	13,532	12,056	12,056
	15	Other assets (describe )	7,470,928	5,562,531	1,670,711
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	9,641,800	13,152,922	9,162,824
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	9,641,800	13,152,922
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	9,641,800	13,152,922
	30	Total liabilities and net assets/fund balances (see instructions).	9,641,800	13,152,922

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

9,641,800

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

3,511,122

Other increases not included in line 2 (itemize) bullet

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

13,152,922

Decreases not included in line 2 (itemize) bullet

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

13,152,922

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	CDK GLOBAL INC	P	2014-09-30	2020-02-03
b	CNX MAINSTREAM PARTNERS	P	2016-12-25	2020-08-13
c	CNX MAINSTREAM PARTNERS	P	2016-12-25	2020-08-14
d	ENERGY TRANSFER LP	P	2016-12-16	2020-08-19
e	ENERGY TRANSFER LP	P	2016-12-16	2020-12-04
	ISHARES TRUST BIOTECH ETF	P	2014-02-17	2020-02-04
	KKR & CO INC	P	2016-02-19	2020-02-03
	KKR & CO INC	P	2016-02-16	2020-02-03
	MICROSOFT CORP	P	2014-01-15	2020-08-20
	PREMIER FINANCIAL BANCORP INC	P	2014-07-23	2020-08-31
	SPDR S&P BIOTECH ETF	P	2013-05-15	2020-08-17
	TORONTO-DOMINION BANK	P	2010-07-28	2020-08-24
	TORONTO-DOMINION BANK	P	2010-07-28	2020-08-25
	ARTWORK - THE DRYDOCK FAIRHAVEN, MASS	P	2005-03-17	2020-05-21
	ARTWORK - LONG DAYS JOURNEY, BALCLUTHA, 1889	P	2015-03-30	2020-05-21
	ARTWORK - THE THREE SAINTS TOWED BY THE TLINGITS INTO YAKUTAT BAY	P	1998-07-17	2020-05-21
	ARTWORK - WE SAILED FOR THE LARGE COUNTRY THE SV. GAVRIIL STANDING TOWARDS C	P	1998-07-17	2020-05-21
	ARTWORK - AMERICAN WHALERS IN ARCTIC WATERS	P	1998-08-16	2020-06-11
	ARTWORK - PEARY'S EXPLORATION VESSEL ROOSEVELT WINTERING	P	1995-03-23	2020-06-11
	ARTWORK - PORTRAIT OF CAPTAIN JOSEPH GRAY RUSSELL	P	1995-08-14	2020-06-11
	ARTWORK - HALF MODEL, BOSTON PILOT SCHOONER 'HESPER'	P	1994-03-25	2020-06-11
	ARTWORK - THE AMERICAN CLIPPER OCEAN HERALD	P	2005-05-27	2020-06-11
	ARTWORK - ADMIRALTY BOARD STYLE MODEL OF CENTURION	P	1997-05-15	2020-06-11
	ARTWORK - ENGLISH SHIP OFF THE WHITE CLIFFS OF DOVER, 1861	P	1996-08-21	2020-06-11
	ARTWORK - PAMIR OFF CAPE HORN	P	2000-06-19	2020-06-11
	ARTWORK - EARLY AMERICAN HALF-HULL LIFT-MODEL	P	2001-10-20	2020-06-11
	ARTWORK - HALF-MODEL OF THE OYSTER SCHOONER LOUISA MORRISON	P	2001-04-12	2020-06-11
	ARTWORK - AMERICAN WHALERS IN NEW ZEALAND	P	1998-10-24	2020-08-13
	ARTWORK - NORTH PACIFIC WHALERS TRYING OUT OIL	P	2005-04-15	2020-08-13
	ARTWORK - PRIVATE SIGNALS, MERCHANTS OF BOSTON. C.1855	P	1996-08-18	2020-08-13
	ARTWORK - MEDIUM CLIPPER SHIP 'ASA ELDRIDGE'	P	1995-07-27	2020-08-13
	ARTWORK - AMERICAN PACKET 'REPUBLIC' OFF LE HAVRE	P	1997-08-15	2020-08-13
	ARTWORK - AMERICAN PACKET WASHINGTON & SAIL-STEAMER NORTH STAR	P	1996-08-21	2020-08-13
	ARTWORK - LAUNCHING AT EAST INDIA CO. YARD,BLACKWALL ON THE THAMES	P	1997-05-15	2020-08-13
	ARTWORK - PACKET SHIP 'DANIEL WEBSTER' ENTERING LIVERPOOL	P	1998-02-25	2020-08-13
	ARTWORK - KITTY, LIVERPOOL PILOT BOAT NO.2	P	1996-08-12	2020-08-13
	ARTWORK - SHIP MORO CASTLE ENTERING LIVERPOOL OFF PERCH ROCK	P	2002-11-16	2020-08-13
	ARTWORK - PILOT SCHOONER 'FRANCIS PERKINS' C.1895	P	1994-08-21	2020-08-13
	ARTWORK - PORTRAIT OF THE STEAMSHIP COTTAGE CITY	P	2003-03-21	2020-08-13
	ARTWORK - PORTRAIT OF THE STEAMSHIP YALE	P	2001-08-18	2020-08-13
	ARTWORK - CAPTURE OF EMILY ST.PIERRE BY FEDERAL SLOOP JAMES ADGER	P	1998-11-11	2020-08-13
	ARTWORK - 'THE GREAT OCEAN YACHT RACE'	P	1997-02-13	2020-08-13
	ARTWORK - SAILOR'S WOOL 'H.M.S. RIFLEMAN'	P	2001-10-18	2020-08-13
	ARTWORK - BRASS-BOUND LAP DESK	P	1994-07-28	2020-08-13
	ARTWORK - VICTORIAN ANGLE BAROMETER, CIRCA 1840	P	2001-08-18	2020-08-13
	ARTWORK - SHIP'S FIGUREHEAD, OF DEMETER (GRAIN GODDESS)	P	1996-06-26	2020-08-13
	ARTWORK - SCALE MODEL OF 'H.M. BARQUE ENDEAVOUR' - CASED	P	1987-03-27	2020-08-13
	ARTWORK - VALKYRIE II AND NAVAHOE RACING	P	2000-07-04	2020-08-13
	ARTWORK - BARQUE 'PALESTINA; A.B.FORD MASTER' IN OIL. C.1927	P	1994-03-25	2020-08-13
	ARTWORK - HER LAST CRUISE (USS KEARSARGE)	P	1994-07-28	2020-08-13
	ARTWORK - ANNIE JOHNSON OUTWARD BOUND	P	2000-01-05	2020-08-13
	ARTWORK - STAFFORDSHIRE CLEAR OF THE HORN	P	2001-07-31	2020-08-13
	ARTWORK - GAME COCK IN WHAMPOA HARBOR	P	2000-08-20	2020-08-13
	ARTWORK - FOUR MASTED SHIP MODEL 'GWENDOLINE' - CASED	P	1997-01-11	2020-08-13
	ARTWORK - RARE EARLY 19TH CENTURY BOXED CHRONOMETER	P	1997-10-28	2020-08-13
	ARTWORK - STEAMER 'FIRE CRACKER' OFF CHINA COAST	P	1998-08-16	2020-11-19
	ARTWORK - HERMAPHRODITE SCHOONER HESPERIAN	P	1998-01-04	2020-11-19
	ARTWORK - BUILDER'S HALF MODEL OF THE 'STAFFORDSHIRE"	P	1994-03-21	2020-11-19
	ARTWORK - CLIPPER SHIP 'SOVEREIGN OF THE SEAS'	P	1996-08-10	2020-11-19
	ARTWORK - CLIPPER SHIP 'LIGHTNING'	P	1996-08-10	2020-11-19
	ARTWORK - 'THE CELEBRATED CLIPPER SHIP DREADNOUGHT' (SMALL FORMAT)	P	2000-09-22	2020-11-19
	ARTWORK - BARKENTINE 'LADY ELIBANK' AT DOVER'S WHITE CLIFFS-SMALL	P	1995-08-20	2020-11-19
	ARTWORK - SCHOONER 'GENERAL ADELBERT AMES'	P	1994-07-28	2020-11-19
	ARTWORK - BUILDER'S HALF MODEL, FROM RUSSELL & CO.	P	1993-11-10	2020-11-19
	ARTWORK - PORTRAIT OF CAPT. GEORGE WOOLSEY ASPINWALL	P	1996-08-18	2020-11-19
	ARTWORK - SCALE MODEL OF THE CLIPPER SHIP CUTTY SARK - CASED	P	1987-03-27	2020-11-19
	ARTWORK - STEAMSHIP YALE ENTERING THE GOLDEN GATE	P	1998-10-01	2020-11-19
	ARTWORK - 'EUROPE', PIONEER N.Y. LIVERPOOL BLACK BALL PACKET	P	1995-11-10	2020-11-19
	ARTWORK - BRIG 'ATLANTIC' JUNE 29TH, 1828	P	1994-10-29	2020-11-19
	ARTWORK - FULL RIGGED SHIP 'RICHMOND' C.1802	P	1994-10-29	2020-11-19
	BOOK - VOYAGE DE DCOUVERTES AUX TERRES AUSTRALES. 1807-1816	P	2008-06-03	2020-05-14
	ARTWORK - THE DEATH OF A MANDARIN , CIRCA 1810	P	1987-01-27	2020-07-24
	ARTWORK - PORTRAIT OF A MAN WEARING A BLUE SMOCK, HOLDING A STRING OF BEADS	P	1999-06-17	2020-07-24
	ARTWORK - A CHINESE SILK WAISTCOAT WITH EMBROIDERED PANELS, CIRCA 1855	P	1995-03-16	2020-07-24
	ARTWORK - INK ON PAPER VIEW OF HANGZHOU	P	1986-11-17	2020-08-05
	ARTWORK - INK ON PAPER VIEW OF PUNTANGGAN	P	1987-03-23	2020-08-05
	ARTWORK - ENGRAVED SERIES DEPICTING EIGHTEEN COSTUMES OF CHINA	P	1987-10-23	2020-08-05
	ARTWORK - THE DOWNEASTER TACOMA	P	1998-02-17	2020-08-26
	ARTWORK - RECTANGULAR POLYHEDRAL DIAL BY SEYFRIED	P	1994-10-07	2020-09-25
	BOOK - CATALOG OF TAPA CLOTH SPECIMENS FROM COOK VOYAGES	P	2004-05-13	2020-09-24
	ARTWORK - THE ARCHIVES OF CLAUDE EMILE SCHUFFENECKER	P	2008-12-01	2020-03-06
	ARTWORK - 3 PART PANORAMA OF CANTON FRAMED , 1863	P	2002-08-17	2020-02-05
	ARTWORK - DOWN TO THE SEA-ABOVE LOVERS COVE, CATALINA ISLAND	P	1998-02-04	2020-01-09
	ARTWORK - ENGLISH ROYAL YACHT MARY II OFF SHEPPEY ISLE	P	1996-06-18	2020-08-03
	ARTWORK - ROYAL YACHT VISITING ISLE OF WIGHT	P	1996-06-18	2020-08-03
	ARTWORK - CHINESE LADY (IN WESTERN WIG) WATCHING CATS	P	2002-09-10	2020-08-18
	ARTWORK - PAIR OF EUROPEAN SUBJECT 'JUDGEMENT OF PARIS' PLATES	P	2002-09-10	2020-08-18
	ARTWORK - S.S. COLUMBIA OUTWARD BOUND, SAN FRANCISCO, 1886	P	2008-04-29	2020-09-01
	ARTWORK - PACIFIC QUEEN (EX. BALCLUTHA, STAR OF ALASKA)	P	2005-05-10	2020-09-01
	ARTWORK - LARGE ROSE MEDALION PUNCH BOWL	P	2001-08-18	2020-09-08
	ARTWORK - CHINESE CITY WITH STREET ENTERTAINMENTS	P	2001-08-18	2020-09-09
	ARTWORK - WATERCOLORS DEPCITING THE LIFE OF THE SILKWORM	P	2003-08-16	2020-09-17
	ARTWORK - PRINCE OF WALES & PRINCESS ROYAL AT PORT BROOKS, 1787	P	2002-08-30	2020-09-22
	ARTWORK - PORTRAIT OF CAPTAIN INCREASE WARREN OF MAINE	P	1997-02-13	2020-10-06
	ARTWORK - U.S. NAVY CHRONOMETER BY HAMILTON	P	1997-10-28	2020-01-27
	ARTWORK - BRASS MOUNTED TROUGH COMPASS	P	2013-12-03	2020-01-27
	ARTWORK - U.S.NAVY MARK II SEXTANT (QUINTANT) BY WHITE	P	1998-01-01	2020-01-27
	ARTWORK - EARLY POCKET SUNDIAL (AUGSBERG DIAL)	P	2012-11-29	2020-01-27
	ARTWORK - A PAIR OF CHINESE EXPORT PORCELAIN BOWLS AND SAUCERS	P	1994-03-29	2020-01-27
	ARTWORK - STANDING FIGURE OF IMPERIAL HOUSE GUARD	P	1994-03-29	2020-01-27
	ARTWORK - CHINESE SMOKING SET	P	2002-09-23	2020-01-27
	ARTWORK - CHINESE IMARI PLATE IN 'GOVERNOR DUFF' PATTERN	P	2002-01-29	2020-01-27
	ARTWORK - CHINESE IMARI PLATES (3 PAIRS)	P	2002-01-29	2020-01-27
	ARTWORK - PHOENIX JAR WITH COVER AND WHITE-GLAZED KENDI	P	2002-09-10	2020-01-27
	ARTWORK - BLACK AND GOLD LACQUER LAP DESK	P	1999-08-09	2020-01-27
	ARTWORK - VILLE DE SACRAMENTO (CALIFORNIA) - DEC. 20, 1849	P	1996-02-26	2020-01-27
	ARTWORK - SEVEN MASTED SCHOONER, THOMAS W. LAWSON	P	1996-08-21	2020-01-27
	ARTWORK - STEAMSHIP STANLEY DOLLAR	P	1998-06-16	2020-01-27
	ARTWORK - S.S. PRESIDENT HOOVER	P	1991-07-21	2020-01-27
	ARTWORK - IRON SIDE-WHEEL STEAMER ALASKAN	P	2000-10-06	2020-01-27
	ARTWORK - STEAMSHIP KROONLAND	P	2001-03-11	2020-01-27
	ARTWORK - THE BARK NAVESINK OFF HONG KONG	P	2002-09-06	2020-01-27
	ARTWORK - SCHOONER GRACIE D. BUCHANAN CAUGHT IN A SNOW SQUALL	P	1996-08-21	2020-01-27
	ARTWORK - SPERM WHALING & RIGHT WHALING IN BEHRING STRAITS (PAIR)	P	1994-08-21	2020-01-27
	ARTWORK - DOLLAR LINE FLAGSHIP 'PRESIDENT HOOVER, 1831	P	1998-06-16	2020-01-27
	ARTWORK - ORANGE & GILT WASH BASIN IN BIRD & BUTTERFLY PATTERN	P	2001-08-18	2020-01-26
	ARTWORK - FOUR BLUE & WHITE PORCELAIN DISHES FROM TEK SING WRECK	P	2003-08-12	2020-01-26
	ARTWORK - FOUR BLUE & WHITE PORCELAIN PIECES FROM HOI AN, VIETNAM WRECK	P	2003-08-12	2020-01-26
	ARTWORK - EARLY AVALON, CATALINA ISLAND LITHOGRAPH	P	2000-10-06	2020-04-21
	ARTWORK - U.S.S. CYANE TAKING POSSESION OF SAN DIEGO, 1846	P	2004-06-15	2020-05-17
	ARTWORK - SCHOONER 'C.A.THAYER' TOWING OUT OF HOQUIAM, WASHINGTON	P	1994-11-26	2020-05-17
	ARTWORK - SACRED...SECRET	P	1998-03-06	2020-08-07
	ARTWORK - NOONDAY REST PHYSCHOTOPOGRAPHICAL LANDSCAPE (PASTORAL) NO. 7	P	1999-11-23	2020-08-07
	ARTWORK - FACE THE MACHINETIME	P	2004-07-27	2020-08-07
	ARTWORK - POISON JELLY FISH	P	1994-07-20	2020-08-07
	ARTWORK - GARAPHON BIRDS, EMU (KU KANANGANTHAN)	P	1994-08-30	2020-08-07
	ARTWORK - CLAN STORY	P	1994-08-30	2020-08-07
	ARTWORK - ARTIST'S COUNTRY	P	1994-08-30	2020-08-07
	ARTWORK - DREAMING MAP (KANGAROO DREAMING)	P	1994-08-30	2020-08-07
	ARTWORK - UNTITLED (CEREMONIAL BOARD DESIGN)	P	1994-08-30	2020-08-07
	ARTWORK - CORAL DESIGN	P	1994-09-13	2020-08-07
	ARTWORK - MALE AND FEMALE KANGAROOS OF THE UBER CEREMONY	P	1995-06-18	2020-08-07
	ARTWORK - NAMORMOYAK AND WAYARRA SPIRIT FIGURES	P	1998-06-29	2020-08-07
	ARTWORK - UNTITLED (TURTLE)	P	1998-06-29	2020-08-07
	ARTWORK - SPIDER DREAMING	P	1999-11-23	2020-08-07
	ARTWORK - OX-EYE HERRING/LONG TOM FISH	P	2002-02-15	2020-08-07
	ARTWORK - EMU DANCE	P	2002-07-19	2020-08-07
	ARTWORK - PUKUMANI POLE	P	1980-03-08	2020-08-07
	ARTWORK - PUKUMANI POLE	P	1980-03-08	2020-08-07
	ARTWORK - PUKUMANI POLE	P	1980-03-05	2020-08-07
	ARTWORK - PUKUMANI POLE	P	1980-03-08	2020-08-07
	ARTWORK - PUKUMANI POLE	P	1980-03-08	2020-08-07
	ARTWORK - PUKUMANI POLE	P	1980-03-08	2020-08-07
	ARTWORK - PUKUMANI POLE	P	1980-03-08	2020-08-07
	ARTWORK - PUKUMANI POLE	P	1980-03-08	2020-08-07
	ARTWORK - SNAKE CARVING	P	1995-11-28	2020-08-07
	ARTWORK - TIWI CEREMONIAL FIGURE	P	1997-06-30	2020-08-07
	ARTWORK - THE WAGILAG SISTERS (2 CARVINGS)	P	1999-06-28	2020-08-07
	ARTWORK - CEREMONIAL BIRD	P	1999-06-28	2020-08-07
	ARTWORK - MIMI SPIRIT	P	1999-06-29	2020-08-07
	ARTWORK - PAIR OF TIWI OCHRE DECORATED CLUBS	P	2002-02-15	2020-08-07
	ARTWORK - FEMALE TIWI SCULPTURE	P	2002-07-19	2020-08-07
	ARTWORK - MINYMA KUTJARRA	P	1980-03-05	2020-08-07
	ARTWORK - TRAVELS OF THE TINGARI MEN	P	1980-03-05	2020-08-07
	ARTWORK - WOMEN'S DREAMING	P	1980-03-05	2020-08-07
	ARTWORK - WATER DREAMING AT WALURRA	P	1980-03-05	2020-08-07
	ARTWORK - MALLIERRA CEREMONY AT KAAKURATINJA	P	1980-03-05	2020-08-07
	ARTWORK - THE LAWGIVERS	P	1980-03-05	2020-08-07
	ARTWORK - CENTIPEDE AND WALLABY DREAMING	P	1980-04-09	2020-08-07
	ARTWORK - CROW DREAMING	P	1980-03-05	2020-08-07
	ARTWORK - WOMEN AT KITA	P	1980-03-05	2020-08-07
	ARTWORK - WATER DREAMING AT WATYLPUWYA	P	1980-03-05	2020-08-07
	ARTWORK - MALA (HARE-WALLABY) DREAMING	P	1980-03-08	2020-08-07
	ARTWORK - TINGARI DREAMING	P	1980-03-05	2020-08-07
	ARTWORK - OLD MAN AND HIS TESTES	P	1980-03-08	2020-08-07
	ARTWORK - FEEDING ON YAMS	P	1980-03-08	2020-08-07
	ARTWORK - MALA (WALLABY) PEOPLE AT MAWURRUNGU	P	1980-08-21	2020-08-07
	ARTWORK - WOMEN AT NYURCOOLINGA	P	1981-06-17	2020-08-07
	ARTWORK - KUDITCHI (SHIELD) STORY	P	1981-06-17	2020-08-07
	ARTWORK - WITCHETTY GRUBS	P	1981-04-03	2020-08-07
	ARTWORK - WRONG MAN'S BROTHER	P	1981-04-03	2020-08-07
	ARTWORK - GOANNA DREAMING STORY	P	1981-04-03	2020-08-07
	ARTWORK - WATERSNAKE DREAMING AT KALIPINPA	P	1981-04-03	2020-08-07
	ARTWORK - CEREMONIAL DESIGN	P	1997-05-30	2020-08-07
	ARTWORK - INITIATION CEREMONY	P	1991-03-01	2020-08-07
	ARTWORK - BLUE TONGUED LIZARD DREAMING	P	1991-03-01	2020-08-07
	ARTWORK - MIKANTJI WATER DREAMING (1971)	P	1991-03-01	2020-08-07
	ARTWORK - WILLITJI, THE KANGAROO, AT WARTARTARRI	P	1991-08-08	2020-08-07
	ARTWORK - LINGKA (SNAKES) AT NYINMINGKA	P	1991-08-08	2020-08-07
	ARTWORK - TINGARI GROUND PAINTING DESIGN	P	1991-09-09	2020-08-07
	ARTWORK - BUSH TOBACCO (PITJURI) DREAMING AT KULKUTA	P	1991-09-09	2020-08-07
	ARTWORK - MUNA - EVERYTHING	P	1992-10-16	2020-08-07
	ARTWORK - WATER DREAMING	P	1993-03-09	2020-08-07
	ARTWORK - MY DREAMING (KAME VISION), AWELYE	P	1993-12-22	2020-08-07
	ARTWORK - DESERT STORM	P	1993-12-22	2020-08-07
	ARTWORK - TINGARI MEN AT LAKE MACKAY (WILKINKARRA)	P	1994-07-20	2020-08-07
	ARTWORK - UNTITLED (KANPARRKA (CENTIPEDE) DREAMING)	P	1994-07-20	2020-08-07
	ARTWORK - WOMEN'S DREAMING AT KULKULTA	P	1994-07-20	2020-08-07
	ARTWORK - WATER DREAMING WITH POSSUM STORY	P	1994-07-20	2020-08-07
	ARTWORK - BUDGERIGAR TEACHING AT YUPANI	P	1994-08-31	2020-08-07
	ARTWORK - GREEN PEA DREAMING, MOUNTAIN DEVIL LIZARD COUNTRY	P	1994-09-22	2020-08-07
	ARTWORK - ARTIST'S DREAMING	P	1994-10-02	2020-08-07
	ARTWORK - KARRKURRUTINTYJA	P	1995-06-15	2020-08-07
	ARTWORK - BRAEIBLI, NEAR LAKE MACKAY	P	1995-08-25	2020-08-07
	ARTWORK - POSSUM, GOANNA, BUSH CARROT & BUSH RASIN DREAMING	P	1995-10-30	2020-08-07
	ARTWORK - WOMAN'S DREAMING	P	1995-10-30	2020-08-07
	ARTWORK - NGARLKIRI (WITCHETY GRUB) DREAMING AT KUNAJARRAYI	P	1995-11-28	2020-08-07
	ARTWORK - MAWURRUNGU JUKURRPA	P	1996-06-20	2020-08-07
	ARTWORK - WATER DREAMING AT MARPURRI, SOUTH OF LAKE MACKAY	P	1996-05-01	2020-08-07
	ARTWORK - WAATI G'WALA; MAN OF THE ICE-COLD TIME & YALLA DREAMING	P	1996-06-17	2020-08-07
	ARTWORK - NGAPA MANU YANKIRRI JUKURRPA (WATER & EMU DREAMING)	P	1996-06-17	2020-08-07
	ARTWORK - JINTI-PARNTA JUKURRPA (NATIVE TRUFFLE DREAMING)	P	1996-06-17	2020-08-07
	ARTWORK - SEVEN SISTERS DREAMING AT PUNKAPINYI	P	1996-06-17	2020-08-07
	ARTWORK - ANOORLYA - YAM DREAMING	P	1996-12-18	2020-08-07
	ARTWORK - MOUNTAIN DEVIL LIZARD DREAMING (W/WINTER SANDSTORM)	P	1996-12-18	2020-08-07
	ARTWORK - TINGARI DREAMING	P	1996-12-18	2020-08-07
	ARTWORK - RED BUTT (WIRDIM) COUNTRY	P	1997-03-12	2020-08-07
	ARTWORK - HORSE-SHOE GORGE (LAJIBANY)	P	1997-03-12	2020-08-07
	ARTWORK - KURTAL: THE FINAL DANCE	P	1997-06-30	2020-08-07
	ARTWORK - TUNBUNDJA ROCKHOLE	P	1997-09-12	2020-08-07
	ARTWORK - THE TINGARI CYCLE STORY AT WILKINKARRA (LAKE MACKAY)	P	1997-09-15	2020-08-07
	ARTWORK - CEREMONIAL DANCE	P	1997-08-22	2020-08-07
	ARTWORK - HAIR STRING DREAMING	P	1998-05-05	2020-08-07
	ARTWORK - RAINMAKER BIRD STORY	P	1998-06-29	2020-08-07
	ARTWORK - OWL (DUMBUN) DREAMING OF KRILL KRILL CEREMONY	P	1998-06-29	2020-08-07
	ARTWORK - YALKA (BUSH ONION) DREAMING	P	1998-06-29	2020-08-07
	ARTWORK - CORKWOOD DREAMING AT CONNISTON	P	1998-08-21	2020-08-07
	ARTWORK - INITIATION SITE AND STORM DREAMING	P	1998-08-21	2020-08-07
	ARTWORK - GURIRR GURIRR STORY	P	1999-05-02	2020-08-07
	ARTWORK - WATER STORY (VERSION 5)	P	1999-11-23	2020-08-07
	ARTWORK - UNTITLED	P	1999-11-23	2020-08-07
	ARTWORK - MOUNTAIN DEVIL LIZARD DREAMING	P	2002-06-24	2020-08-07
	BOOK - THE JOURNAL OF H.M.S. ENDEAVOUR, 1768-1771. BY LIEUTENANT JAMES COOK	P	2005-07-29	2020-02-25
	BOOK - THE JOURNAL OF H.M.S. RESOLUTION, 1772-1775	P	2005-07-29	2020-02-25
	ARTWORK - THE ALASKA BOUNDARY	P	2002-06-20	2020-02-25
	ARTWORK - METHODS AND RESULTS - VOYAGES OF DISCOVERY AND EXPLORATION	P	2002-06-20	2020-02-25
	ARTWORK - PACIFIC COAST. COAST PILOT OF ALASKA, (FIRST PART)	P	2002-06-20	2020-02-25
	ARTWORK - PACIFIC COAST. COAST PILOT OF CALIFORNIA, OREGON, AND WASHINGTON T	P	2002-06-20	2020-02-25
	BOOK - LOG BOOK OF THE EAST JNDIAMAN ''BARRINGTON" KEPL	P	2005-07-29	2020-02-25
	BOOK - TWO LOG BOOKS, THE MAIDEN VOYAGES OF THE CLIPPER SHIPS "BALD EAGLE	P	2005-07-29	2020-02-25
	ARTWORK - SIX ENGRAVINGS DEPICTING THE DEATH OF CAPTAIN JAMES COOK	P	2004-09-23	2020-02-25
	ARTWORK - SKETCH OF GENERAL RILEY'S ROUTE THROUGH THE MINING DISTRICTS	P	2002-02-10	2020-02-25
	ARTWORK - CONSTITUTION AND BY-LAWS OF THE CALIFORNIA ACADEMY OF SCIENCES.	P	2002-06-20	2020-02-20
	ARTWORK - THE DISCOVERY OF SAN FRANCISCO BAY	P	2002-06-20	2020-02-20
	ARTWORK - KAART VAN DE ZUYD-OOSTER EYLANDEN VAN BANDA-MAP OF BANDA ISLANDS	P	2004-10-01	2020-05-28
	ARTWORK - TWO PRINTS DEPICTING THE DEATH OF JAMES COOK	P	2004-09-23	2020-05-28

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	12,670	6,625	6,045
b	21,883	22,878	-995
c	10,397	11,711	-1,314
d	6,630	6,012	618
e	6,970	6,012	958
	10,568	7,352	3,216
	32,552	12,493	20,059
	16,645	6,247	10,398
	21,367	3,674	17,693
	15,432	14,660	772
	11,409	3,664	7,745
	12,097	8,940	3,157
	12,232	8,940	3,292
	3,325	13,437	-10,112
	7,600	12,000	-4,400
	1,260	2,900	-1,640
	540	2,900	-2,360
	810	8,435	-7,625
	3,800	6,109	-2,309
	4,037	5,750	-1,713
	675	475	200
	3,325	88,650	-85,325
	7,125	20,000	-12,875
	765	17,492	-16,727
	405	5,692	-5,287
	1,170	10,213	-9,043
	765	27,950	-27,185
	2,565	4,891	-2,326
	5,700	31,786	-26,086
	2,755	7,850	-5,095
	1,980	17,763	-15,783
	3,800	18,374	-14,574
	9,025	41,640	-32,615
	12,000	55,143	-43,143
	25,164	115,045	-89,881
	14,000	47,741	-33,741
	6,175	35,818	-29,643
	6,175	12,500	-6,325
	7,125	28,804	-21,679
	8,550	18,875	-10,325
	6,650	50,726	-44,076
	405	2,800	-2,395
	765	3,000	-2,235
	540	1,400	-860
	2,755	32,200	-29,445
	6,175	15,000	-8,825
	2,375	2,500	-125
	2,660	20,128	-17,468
	1,800	4,000	-2,200
	2,375	3,850	-1,475
	2,755	10,437	-7,682
	2,470	5,631	-3,161
	4,275	13,969	-9,694
	3,562	7,000	-3,438
	8,075	5,850	2,225
	360	2,795	-2,435
	1,530	8,500	-6,970
	7,600	17,500	-9,900
	855	6,875	-6,020
	1,800	2,914	-1,114
	675	248	427
	1,890	6,500	-4,610
	1,800	6,095	-4,295
	4,275	10,500	-6,225
	3,562	10,498	-6,936
	1,350	3,000	-1,650
	1,170	2,841	-1,671
	495	990	-495
	1,170	7,500	-6,330
	720	6,500	-5,780
	9,329	32,500	-23,171
	9,423	13,320	-3,897
	14,808	5,871	8,937
	26,924	2,894	24,030
	10,000	2,000	8,000
	10,000	2,500	7,500
	2,500	1,550	950
	11,000	20,761	-9,761
	2,000	6,000	-4,000
	112,650	101,369	11,281
	12,000	7,435	4,565
	10,000	8,050	1,950
	26,000	15,614	10,386
	8,550	36,525	-27,975
	4,275	9,500	-5,225
	28,000	7,500	20,500
	1,140	3,530	-2,390
	3,325	23,015	-19,690
	4,275	54,136	-49,861
	1,900	5,630	-3,730
	3,705	7,940	-4,235
	3,800	5,358	-1,558
	1,520	6,800	-5,280
	1,072	12,275	-11,203
	2,613	2,600	13
	135	295	-160
	270	700	-430
	540	1,100	-560
	45		45
	157		157
	3,325	1,690	1,635
	585	5,088	-4,503
	900	7,632	-6,732
	495	540	-45
	1,080	3,284	-2,204
	315	5,064	-4,749
	855	2,300	-1,445
	810	13,901	-13,091
	495	2,155	-1,660
	4,750	17,214	-12,464
	8,000	10,160	-2,160
	2,375	7,190	-4,815
	2,375	6,648	-4,273
	720	4,510	-3,790
	1,260	13,740	-12,480
	292	2,656	-2,364
	135	806	-671
	202	1,128	-926
	720	7,434	-6,714
	2,613	11,907	-9,294
	3,562	11,000	-7,438
	8,000	1,867	6,133
	10,000	4,041	5,959
	15,000	6,049	8,951
	10,000	3,600	6,400
	6,000	2,225	3,775
	12,000	2,225	9,775
	18,000	2,225	15,775
	3,500	2,050	1,450
	6,000	2,025	3,975
	35,000	1,000	34,000
	15,000	4,000	11,000
	12,000	7,624	4,376
	6,000	1,399	4,601
	45,000	1,620	43,380
	6,000	1,250	4,750
	12,000	5,057	6,943
	15,000	550	14,450
	15,000	380	14,620
	15,000	525	14,475
	15,000	380	14,620
	15,000	785	14,215
	15,000	550	14,450
	15,000	650	14,350
	15,000	425	14,575
	40,000	6,000	34,000
	8,000	3,505	4,495
	6,000	18,072	-12,072
	12,000	7,399	4,601
	10,000	5,347	4,653
	20,000	1,200	18,800
	3,500	3,372	128
	10,000	1,000	9,000
	500,000	3,000	497,000
	60,000	1,500	58,500
	60,000	1,000	59,000
	130,000	1,500	128,500
	35,000	1,000	34,000
	50,000	120	49,880
	40,000	300	39,700
	8,000	300	7,700
	12,000	350	11,650
	8,000	325	7,675
	12,000	350	11,650
	7,000	300	6,700
	12,000	300	11,700
	60,000	500	59,500
	45,000	631	44,369
	25,000	556	24,444
	12,000	1,000	11,000
	24,000	1,000	23,000
	40,000	2,000	38,000
	8,000	500	7,500
	30,000	1,200	28,800
	100,000	11,000	89,000
	170,000	16,700	153,300
	35,000	1,500	33,500
	20,000	1,400	18,600
	45,000	1,300	43,700
	90,000	3,600	86,400
	8,000	2,700	5,300
	600,000	13,200	586,800
	40,000	8,500	31,500
	800,000	14,800	785,200
	600,000	14,800	585,200
	12,000	1,800	10,200
	12,500	6,300	6,200
	26,000	3,600	22,400
	90,000	7,290	82,710
	50,000	8,223	41,777
	25,000	5,031	19,969
	50,000	5,750	44,250
	15,000	6,500	8,500
	5,000	4,750	250
	5,000	4,100	900
	7,000	2,400	4,600
	15,000	5,500	9,500
	20,000	8,600	11,400
	7,500	2,300	5,200
	6,500	1,773	4,727
	50,000	12,132	37,868
	30,000	6,999	23,001
	5,000	2,426	2,574
	90,000	8,750	81,250
	25,000	7,000	18,000
	22,000	4,000	18,000
	10,000	5,450	4,550
	3,500	2,518	982
	15,000	8,434	6,566
	10,000	3,813	6,187
	15,000	3,250	11,750
	15,000	3,072	11,928
	40,000	6,898	33,102
	45,000	7,106	37,894
	20,000	7,106	12,894
	25,000	7,106	17,894
	25,000	15,000	10,000
	45,000	4,800	40,200
	6,500	3,429	3,071
	100,000	11,645	88,355
	12,000	1,296	10,704
	20,000	17,209	2,791
	495	403	92
	428	1,495	-1,067
	90	245	-155
	135	245	-110
	203	245	-42
	144	245	-101
	990	1,500	-510
	7,200	5,463	1,737
	135	3,750	-3,615
	90	1,284	-1,194
	45	245	-200
	38	245	-207
	180		180
	99	1,250	-1,151

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			6,045
b			-995
c			-1,314
d			618
e			958
			3,216
			20,059
			10,398
			17,693
			772
			7,745
			3,157
			3,292
			-10,112
			-4,400
			-1,640
			-2,360
			-7,625
			-2,309
			-1,713
			200
			-85,325
			-12,875
			-16,727
			-5,287
			-9,043
			-27,185
			-2,326
			-26,086
			-5,095
			-15,783
			-14,574
			-32,615
			-43,143
			-89,881
			-33,741
			-29,643
			-6,325
			-21,679
			-10,325
			-44,076
			-2,395
			-2,235
			-860
			-29,445
			-8,825
			-125
			-17,468
			-2,200
			-1,475
			-7,682
			-3,161
			-9,694
			-3,438
			2,225
			-2,435
			-6,970
			-9,900
			-6,020
			-1,114
			427
			-4,610
			-4,295
			-6,225
			-6,936
			-1,650
			-1,671
			-495
			-6,330
			-5,780
			-23,171
			-3,897
			8,937
			24,030
			8,000
			7,500
			950
			-9,761
			-4,000
			11,281
			4,565
			1,950
			10,386
			-27,975
			-5,225
			20,500
			-2,390
			-19,690
			-49,861
			-3,730
			-4,235
			-1,558
			-5,280
			-11,203
			13
			-160
			-430
			-560
			45
			157
			1,635
			-4,503
			-6,732
			-45
			-2,204
			-4,749
			-1,445
			-13,091
			-1,660
			-12,464
			-2,160
			-4,815
			-4,273
			-3,790
			-12,480
			-2,364
			-671
			-926
			-6,714
			-9,294
			-7,438
			6,133
			5,959
			8,951
			6,400
			3,775
			9,775
			15,775
			1,450
			3,975
			34,000
			11,000
			4,376
			4,601
			43,380
			4,750
			6,943
			14,450
			14,620
			14,475
			14,620
			14,215
			14,450
			14,350
			14,575
			34,000
			4,495
			-12,072
			4,601
			4,653
			18,800
			128
			9,000
			497,000
			58,500
			59,000
			128,500
			34,000
			49,880
			39,700
			7,700
			11,650
			7,675
			11,650
			6,700
			11,700
			59,500
			44,369
			24,444
			11,000
			23,000
			38,000
			7,500
			28,800
			89,000
			153,300
			33,500
			18,600
			43,700
			86,400
			5,300
			586,800
			31,500
			785,200
			585,200
			10,200
			6,200
			22,400
			82,710
			41,777
			19,969
			44,250
			8,500
			250
			900
			4,600
			9,500
			11,400
			5,200
			4,727
			37,868
			23,001
			2,574
			81,250
			18,000
			18,000
			4,550
			982
			6,566
			6,187
			11,750
			11,928
			33,102
			37,894
			12,894
			17,894
			10,000
			40,200
			3,071
			88,355
			10,704
			2,791
			92
			-1,067
			-155
			-110
			-42
			-101
			-510
			1,737
			-3,615
			-1,194
			-200
			-207
			180
			-1,151

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	3,859,346
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3	0

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE

1 Reserved

(a) Reserved	(b) Reserved	(c) Reserved	(d) Reserved

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

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

Form 990-PF (2020)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	53,497
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	53,497
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	53,497
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	97,064
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	97,064
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	314
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	43,253
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax43,253	Refunded	11	0

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

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

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

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

on foundation managers. bullet

$ 0

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

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

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

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

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

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

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

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

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

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.

If "Yes," complete Part XIV .............................

Yes

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

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

Form 990-PF (2020)

Page 5

Part VII-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

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

Yes

Website address bullet

N/A

The books are in care of bullet

CECIL HARRIGAN ESQ Telephone no. bullet

(202) 387-8866

Located at bullet

1516 U ST NWWASHINGTONDC ZIP+4 bullet

200098004

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ........ bullet

16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country bullet

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

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

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

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

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

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?...............YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).......YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........

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

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2020?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2020, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2020?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2020.)..................

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

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?

Form 990-PF (2020)

Page 6

Part VII-B

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

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

Yes

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

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

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

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

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

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

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

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

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......

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

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?..........YesNo

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

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

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

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

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

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

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

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .................YesNo

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
MARK KELTON	PRESIDENT/TREAS 8.00	0	0	0
2716 OCEAN PARK BLVD 3006 SANTA MONICA,CA90405	PRESIDENT/TREAS 8.00	0	0	0
MARK LEEKLEY	V PRES/SECTY 1.00	0	0	0
2716 OCEAN PARK BLVD 3006 SANTA MONICA,CA90405	V PRES/SECTY 1.00	0	0	0
KERRY SMALLWOOD	V PRES/CURATOR 0.50	0	0	0
2716 OCEAN PARK BLVD 3006 SANTA MONICA,CA90405	V PRES/CURATOR 0.50	0	0	0
JESSICA KELTON	VICE PRESIDENT 0.50	0	0	0
2716 OCEAN PARK BLVD 3006 SANTA MONICA,CA90405	VICE PRESIDENT 0.50	0	0	0
DANIELLE KELTON SOPKO	VICE PRESIDENT 0.50	0	0	0
2716 OCEAN PARK BLVD 3006 SANTA MONICA,CA90405	VICE PRESIDENT 0.50	0	0	0
CECIL HARRIGAN ESQ	ASST SECRETARY 0.25	0	0	0
1516 U ST NW WASHINGTON,DC20009	ASST SECRETARY 0.25	0	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2020)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

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

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1	GAUGUIN ARTWORKS WERE LOANED TO THE "GAUGUIN: PORTRAITS" EXHIBITION AT THE NATIONAL GALLERY IN LONDON THROUGH JANUARY 26, 2020	0
2	BLUE WATER WEB MUSEUM WEBSITE	0
3	NOTE: DURING 2020, THE FOUNDATION WAS TRANSITIONING FROM AN OPERATING TO A NON-OPERATING FOUNDATION. MOST OF ITS EFFORTS WERE SPENT IN CONNECTION WITH THE SALES OF ITS VARIOUS COLLECTIONS THROUGH AUCTION HOUSES, ART DEALERS AND PRIVATE SALES.	0
4

Part IX-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2020)

Page 8

Part X

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

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

purposes:

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

792,829

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

2,710,751

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

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

3,503,580

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

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

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

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

3,503,580

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

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

52,554

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

3,451,026

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

172,551

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

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

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

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

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

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

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

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

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

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

Part XII

Qualifying Distributions (see instructions)

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

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

2,525

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

2,525

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b. See instructions.................

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

2,525

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2020)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2019	(c) 2019	(d) 2020
1 Distributable amount for 2020 from Part XI, line 7
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......
b Total for prior years:20, 20, 20
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........
4Qualifying distributions for 2020 from Part
XII, line 4: $
a Applied to 2019, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2020 distributable amount.....
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2020.
(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
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
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......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2020. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2021 ..........
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) .......
8 Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) ...
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......
10 Analysis of line 9:
a Excess from 2016....
b Excess from 2017....
c Excess from 2018....
d Excess from 2019....
e Excess from 2020....

Form 990-PF (2020)

Page 10

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet

1983-05-12

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2020	(b) 2019	(c) 2018	(d) 2017	(e) Total
	9,668	10,182	0	0	19,850
b 85% of line 2a .........	8,218	8,655	0	0	16,873
c Qualifying distributions from Part XII, line 4 for each year listed .....	2,525	189,082	548,245	653,338	1,393,190
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........	0	0	0	0	0
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....	2,525	189,082	548,245	653,338	1,393,190
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......	13,153,389	9,637,800	9,294,990	9,730,950	41,817,129
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)	5,562,531	7,484,460	8,412,333	8,308,189	29,767,513
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...	115,034	35,859	33,073	76,393	260,359
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) ....		425,922	400,000	790,734	1,616,656
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....					0
(3) Largest amount of support from an exempt organization					0
(4) Gross investment income	3,869,481	130,799	45,752	27,856	4,073,888

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).)

MARK KELTON

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

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

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2020)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
KLUGE-RUHE COLLECTION 400 WORRELL DR CHARLOTTESVILLE,VA22911	NONE	PC	SUPPORT OF CHARITABLE ACTIVITIES	1,000
OCEAN CONSERVANCY PO BOX 96003 WASHINGTON,DC200906003	NONE	PC	SUPPORT OF CHARITABLE ACTIVITIES	25
PEABODY ESSEX MUSEUM EAST INDIA SQUARE SALEM,MA01970	NONE	PC	SUPPORT OF CHARITABLE ACTIVITIES	1,500
Total ................................. 3a				2,525

bApproved for future payment

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

Form 990-PF (2020)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........			14	2
4 Dividends and interest from securities....			14	8,966
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	700
8 Gain or (loss) from sales of assets other than inventory ............			14	3,859,346
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		3,869,014	0

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

3,869,014

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)
1	N/A

Form 990-PF (2020)

Page 13

Part XVII

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

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Adjusted Net Income
EQUIPMENT	2009-01-01	1,637	1,637	200DB	7.000000000000	0	0
EQUIPMENT	2009-10-19	543	543	200DB	7.000000000000	0	0
COMPUTER	2011-09-14	898	898	200DB	5.000000000000	0	0
SHELVING	2011-12-14	789	789	200DB	7.000000000000	0	0
LIBRARY CARTS	2012-03-04	1,502	1,502	200DB	7.000000000000	0	0
COMPUTERS	2014-02-03	4,101	4,101	200DB	5.000000000000	0	0
SHELVING	2014-01-02	14,000	12,127	200DB	7.000000000000	1,250	1,873
SHELVING	2014-09-18	2,000	1,733	200DB	7.000000000000	179	267
FURNITURE	2016-06-06	528	362	200DB	7.000000000000	47	75

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value
EQUIPMENT	1,637	1,637	0
EQUIPMENT	543	543	0
COMPUTER	898	898	0
SHELVING	789	789	0
LIBRARY CARTS	1,502	1,502	0
COMPUTERS	4,101	4,101	0
SHELVING	14,000	13,377	623
SHELVING	2,000	1,912	88
FURNITURE	528	409	119

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
WORKS OF ART, COLLECTIONS, ARTIFACTS	6,976,490	5,223,025	1,331,205
LIBRARY	368,360	213,429	213,429
CHINA TRADE CATALOG AND VIDEO	110,276	110,275	110,275
ABORIGINAL CATALOG AND VIDEO	8,966	8,966	8,966
CHINESE ARTISTS GARDENS CATALOG	2,405	2,405	2,405
ASIAN ART OBJECTS	1,403	1,403	1,403
SECURITY DEPOSITS	3,028	3,028	3,028

Description	Revenue and Expenses per Books	Net Investment Income
BANK CHARGES	313	313
OUTSIDE SERVICES	18,000	0
INSURANCE	17,669	0
OFFICE EXPENSES	5,322	1,756
STORAGE	25,469	0
UTILITIES	22	0
MANAGEMENT FEES	26,250	8,662
FOREIGN CURRENCY LOSS	234	0
SELLING EXPENSE	141,084	0

Category	Amount	Net Investment Income
PAYROLL TAXES	1,199	396
FOREIGN TAXES	129	129
FEDERAL EXCISE TAX	90,000	0