Form990-PF
Click to see attachment

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
The Tapeats Fund
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

76-0412011
B Telephone number (see instructions)

(800) 839-1754
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$18,630,586J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 5,383 5,383  
4 Dividends and interest from securities... 159,536 159,536  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,659,743
b Gross sales price for all assets on line 6a 8,647,031
7 Capital gain net income (from Part IV, line 2)... 2,690,187
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)....... Click to see attachment 107,448 47,880  
12 Total. Add lines 1 through 11........ 2,932,110 2,902,986  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 59,076 45,189   13,887
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 41,726 134    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 27,167     27,167
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 110,360 32,642   76,838
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 238,329 77,965   117,892
25 Contributions, gifts, grants paid....... 810,000 810,000
26 Total expenses and disbursements. Add lines 24 and 25 1,048,329 77,965   927,892
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,883,781
b Net investment income (if negative, enter -0-) 2,825,021
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 2,005,115 1,722,821 1,722,821
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet   3,212    
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,521,419 Click to see attachment1,494,509 1,568,781
b Investments—corporate stock (attach schedule)....... 2,511,496 Click to see attachment9,182,824 10,988,574
c Investments—corporate bonds (attach schedule)....... 1,083,871 Click to see attachment1,019,694 1,080,526
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 6,928,371 Click to see attachment2,522,417 3,269,884
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) 14,053,484 15,942,265 18,630,586
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 14,053,484 15,942,265
29 Total net assets or fund balances (see instructions)..... 14,053,484 15,942,265
30 Total liabilities and net assets/fund balances (see instructions). 14,053,484 15,942,265
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
14,053,484
2
Enter amount from Part I, line 27a .....................
2
1,883,781
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
5,000
4
Add lines 1, 2, and 3 ..........................
4
15,942,265
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
15,942,265
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly-traded Securities      
b Passthrough K1 Capital Gain/(Loss)      
c MBA INVESTMENTS, LLC (ENDOWMENT) P 2010-12-31 2020-06-19
d MBA INVESTMENT FUND, LLC (GROWTH) P 2010-12-31 2020-05-29
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 1,735,785   1,599,634 136,151
b       2,835,334
c 48,478   40,130 8,348
d 6,862,768   7,152,414 -289,646
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       136,151
b        
c       8,348
d       -289,646
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 2,690,187
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 39,268
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  
3 Add lines 1 and 2........................... 3 39,268
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 39,268
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 33,814
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 9,230
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 43,044
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 94
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 3,682
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet3,682 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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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)
    bulletTX
    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 addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    Margaret Borho Executive Dir, Sec
    20.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    David R Graham Trustee
    0.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Laurel A Graham Executive VP, Trustee
    0.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Robert H Graham Pres, Treas, Trustee
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Spencer R Graham Trustee
    0.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Whitney G Mixon Trustee
    0.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    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
     
    Total number of other employees paid over $50,000...................bullet  
    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
    Foundation Source Administrative 72,556
    55 Walls Drive 3rd Floor
    Fairfield,CT06824
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2020)
    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
    9,632,940
    b
    Average of monthly cash balances.......................
    1b
    2,410,141
    c
    Fair market value of all other assets (see instructions)................
    1c
    6,105,143
    d
    Total (add lines 1a, b, and c).........................
    1d
    18,148,224
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    18,148,224
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    272,223
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    17,876,001
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    893,800
    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
    893,800
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    39,268
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
    9,326
    c
    Add lines 2a and 2b............................
    2c
    48,594
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    845,206
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    5,000
    5
    Add lines 3 and 4............................
    5
    850,206
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    850,206
    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
    927,892
    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
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    927,892
    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
    927,892
    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 7 850,206
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 302,037
    b Total for prior years:2018, 2017, 2016  
    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: bullet$ 927,892
    a Applied to 2019, but not more than line 2a 302,037
    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..... 625,855
    e Remaining amount distributed out of corpus 0
    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 0
    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 ..........     		224,351
    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 ......     		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.... 0
    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).)
    Laurel A Graham
    Robert H Graham
    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:
    GRANT APPs TO Margaret Borho
    55 Walls Drive 3rd Floor
    Fairfield,CT06824
    (800) 839-1754
    FSREQUESTS.COM/TAPEATS
    bThe form in which applications should be submitted and information and materials they should include:
    FSREQUESTS.COM/TAPEATS
    cAny submission deadlines:
    FSREQUESTS.COM/TAPEATS
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    FSREQUESTS.COM/TAPEATS
    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
    ADOPT-A-CLASSROOM INC
    401 2ND AVE N STE 305
    MINNEAPOLIS,MN55401     		N/A PC General & Unrestricted 12,500
    ALLIANCE FOR CHOICE IN EDUCATION
    1201 E COLAX AVE
    DENVER,CO80218     		N/A PC ACE Houston K-12 Scholarship fund 5,000
    BAYOU PRESERVATION ASSOCIATION INC
    7305 NAVIGATION BLVD
    HOUSTON,TX77011     		N/A PC Operating Support 2,500
    BOS PLACE
    10050 BUFFALO SPEEDWAY
    HOUSTON,TX77054     		N/A PC Grief Support Programming for Children, Teens, and Adults 10,000
    BREAKTHROUGH HOUSTON
    2401 CLAREMONT LN
    HOUSTON,TX77019     		N/A PC General & Unrestricted 15,000
    BUFFALO BAYOU PARTNERSHIP
    1019 COMMERCE ST SUITE 200
    HOUSTON,TX77002     		N/A PC General Operating Support 5,000
    CAMP ARANZAZU INC
    5420 FM 1781
    ROCKPORT,TX78382     		N/A PC General & Unrestricted 5,000
    CAMP FOR ALL FOUNDATION
    3701 KIRBY DR
    HOUSTON,TX77098     		N/A PC The Equestrian Program 5,000
    CASA DE ESPERANZA DE LOS NINOS INCORPORATED
    2911 CORDER ST
    HOUSTON,TX77054     		N/A PC Residential Program 5,000
    CENTRAL TEXAS FOOD BANK INC
    6500 METROPOLIS DR
    AUSTIN,TX78744     		N/A PC General & Unrestricted 12,500
    CHILDRENS MUSEUM INC
    1500 BINZ ST
    HOUSTON,TX77004     		N/A PC Family Literacy Involvement Program (FLIP) 5,000
    CHINQUAPIN PREPARATORY SCHOOL
    2615 E WALLISVILLE RD
    HIGHLANDS,TX77562     		N/A PC General & Unrestricted 12,500
    COLLABORATIVE FOR CHILDREN
    1111 N LOOP W STE 600
    HOUSTON,TX77008     		N/A PC General & Unrestricted 10,000
    CRISTO REY JESUIT HIGH SCHOOL OF HOUSTON INC
    6700 MOUNT CARMEL ST
    HOUSTON,TX77087     		N/A PC General & Unrestricted 5,000
    DISCOVERU
    PO BOX 4059
    HOUSTON,TX77210     		N/A PC General & Unrestricted 2,500
    DRESS FOR SUCCESS HOUSTON
    3310 EASTSIDE ST
    HOUSTON,TX77098     		N/A PC Thumbs Up Inventory project 5,000
    EMERGE FELLOWSHIP
    11251 NW FWY STE 330
    HOUSTON,TX77092     		N/A PC General operating support for EMERGE's innovative high school fellowship and college success program 7,500
    FII - NATIONAL
    1203 PRESERVATION PARK WAY
    OAKLAND,CA94612     		N/A PC Give Together Now - Houston, TX 5,000
    FOUNDATION FOR TEEN HEALTH
    2726 BISSONNET ST STE 240 168
    HOUSTON,TX77005     		N/A PC General & Unrestricted 5,000
    FUELED SCHOOLS INC
    2990 RICHMOND AVE 5TH FL
    HOUSTON,TX77098     		N/A PC General & Unrestricted 5,000
    GALVESTON BAY FOUNDATION
    1100 HERCULES AVE STE 200
    HOUSTON,TX77058     		N/A PC General & Unrestricted 2,500
    GEORGETOWN PROJECT
    PO BOX 957
    GEORGETOWN,TX78627     		N/A PC General & Unrestricted 12,500
    GOOD REASON HOUSTON INC
    8 GREENWAY PLZ
    HOUSTON,TX77046     		N/A PC General & Unrestricted 7,500
    GREATER HOUSTON COMMUNITY FOUNDATION
    515 POST OAK BLVD STE 1000
    HOUSTON,TX77027     		N/A PC Get Shift Done - Houston 5,000
    HAYS COUNTY FOOD BANK
    220 HERNDON ST
    SAN MARCOS,TX78666     		N/A PC General & Unrestricted 5,000
    HEIFER PROJECT INTERNATIONAL
    PO BOX 8058
    LITTLE ROCK,AR72203     		N/A PC General & Unrestricted 1,000
    HOUSTON ARBORETUM & NATURE CENTER
    4501 WOODWAY DR
    HOUSTON,TX77024     		N/A PC General Operating Support 5,000
    HOUSTON FOOD BANK
    535 PORTWALL ST
    HOUSTON,TX77029     		N/A PC General & Unrestricted 5,000
    HOUSTON FOOD BANK
    535 PORTWALL ST
    HOUSTON,TX77029     		N/A PC Operating Support 5,000
    HOUSTON FOOD BANK
    535 PORTWALL ST
    HOUSTON,TX77029     		N/A PC General Operations 10,000
    HOUSTON INDEPENDENT SCHOOL DISTRICT FOUNDATION
    PO BOX 27904
    HOUSTON,TX77227     		N/A PC General & Unrestricted 5,000
    HOUSTON MUSEUM OF NATURAL SCIENCE
    5555 HERMANN PARK DR
    HOUSTON,TX77030     		N/A PC General & Unrestricted 5,000
    HOUSTON PARKS BOARD
    300 N POST OAK LN
    HOUSTON,TX77024     		N/A PC Mission Support project 5,000
    HOUSTON WILDERNESS INC
    550 WESTCOTT ST STE 305
    HOUSTON,TX77007     		N/A PC General & Unrestricted 5,000
    HOUSTON ZOO INC
    1513 CAMBRIDGE ST
    HOUSTON,TX77030     		N/A PC GPS collars for the giant armadillo and anteater 15,000
    HOUSTON ZOO INC
    1513 CAMBRIDGE ST
    HOUSTON,TX77030     		N/A PC GPS harnesses and monitoring of adult and juvenile giant anteaters in Mato Grosso do Sul, Giraffe and Lion community anti-poaching and protection work in Kenya, and Monitor and Protect 3 herds of Bornean elephants 30,000
    INTERNATIONAL RESCUE COMMITTEE INC
    PO BOX 6068
    ALBERT LEA,MN56007     		N/A PC COVID-19 Relief fund 5,000
    KIPP TEXAS INC
    10711 KIPP WAY DR
    HOUSTON,TX77099     		N/A PC KIPP Through College (KTC) 15,000
    LONE STAR FLIGHT MUSEUM
    11551 AEROSPACE AVE
    HOUSTON,TX77034     		N/A PC General & Unrestricted 5,000
    MARBRIDGE FOUNDATION INC
    PO BOX 2250
    MANCHACA,TX78652     		N/A PC Covid-19 Relief fund at the Villa and Benevolent Care 15,000
    MEDICAL BRIDGES INC
    2706 MAGNET ST
    HOUSTON,TX77054     		N/A PC General & Unrestricted 7,500
    MGVP INC
    PO BOX 356
    DAVIS,CA95617     		N/A PC Gorilla Doctors project 30,000
    MOBILE LOAVES & FISHES INC
    9301 HOG EYE RD UNIT 950
    AUSTIN,TX78724     		N/A PC Community First! Village project 8,500
    MONTANA LAND RELIANCE
    PO BOX 355
    HELENA,MT59624     		N/A PC Project and Stewardship fund in the Madison Valley 5,000
    MOTORCYCLE MISSIONS
    2001 PARKER LN APT 127
    AUSTIN,TX78741     		N/A PC General & Unrestricted 8,000
    NORAS GIFT FOUNDATION INC
    8300 EL RIO ST
    HOUSTON,TX77054     		N/A PC General & Unrestricted 5,000
    PARKS AND WILDLIFE FOUNDATION OF TEXAS INC
    2914 SWISS AVE
    DALLAS,TX75204     		N/A SO I General & Unrestricted 5,000
    PATHWAYS FOR LITTLE FEET
    9 GREENWAY PLZ STE 3150
    HOUSTON,TX77046     		N/A PC Interest-free Loan Program 5,000
    PATRIOT PAWS SERVICE DOGS
    254 RANCH TRL
    ROCKWALL,TX75032     		N/A PC General & Unrestricted 5,000
    PEREGRINE FUND INC
    5668 W FLYING HAWK LN
    BOISE,ID83709     		N/A PC General & Unrestricted 10,000
    POSITIVE COACHING ALLIANCE
    1001 N RENGSTORFF AVE STE 100
    MOUNTAIN VIEW,CA94043     		N/A PC PCA - Central Texas chapter 10,000
    POSITIVE COACHING ALLIANCE
    1001 N RENGSTORFF AVE STE 100
    MOUNTAIN VIEW,CA94043     		N/A PC PCA - Houston chapter 10,000
    PRISON ENTREPRENEURSHIP PROGRAM
    4140 DIRECTORS ROW STE B
    HOUSTON,TX77092     		N/A PC PRISON ENTREPRENEURSHIP PROGRAM AND OPERATIONAL SUPPORT FUND 25,000
    PRO-VISION INC
    4590 WILMINGTON ST
    HOUSTON,TX77051     		N/A PC General & Unrestricted 5,000
    PROJECT GRAD HOUSTON
    3100 MAIN ST
    HOUSTON,TX77002     		N/A PC Project GRAD Houston-College Access and Success Programming 5,000
    PTSD FOUNDATION OF AMERICA
    9724 DERRINGTON RD
    HOUSTON,TX77064     		N/A PC Camp Hope program 25,000
    RANCH HANDS RESCUE
    8827 HWY 377 SOUTH
    ARGYLE,TX76226     		N/A PC Funding for general operations and care and feeding of the rescued animals that are incorporated into the Equine and Animal Assisted Counseling (EAAC) program 25,000
    SCENIC TEXAS INC
    PO BOX 6446
    AUSTIN,TX78762     		N/A PC Placemaking Assessment & Education Programs 2,500
    SMALL STEPS NURTURING CENTER
    2902 JENSEN DR
    HOUSTON,TX77026     		N/A PC Scholarship Society fund 5,000
    SPARK
    PO BOX 1562
    HOUSTON,TX77251     		N/A PC PARK CONSTRUCTION: SPARK PARKS PROJECT 2,500
    SPAY-NEUTER ASSISTANCE PROGRAM INC
    PO BOX 70286
    HOUSTON,TX77270     		N/A PC General & Unrestricted 10,000
    STUDENT CONSERVATION ASSOCIATION INC
    4245 N FAIRFAX DR STE 825
    ARLINGTON,VA22203     		N/A PC SCA Houston Urban Initiatives 5,000
    SUNSHINE KIDS FOUNDATION
    2814 VIRGINIA ST
    HOUSTON,TX77098     		N/A PC Teen Lake Escape project 2,500
    TEACH FOR AMERICA - HOUSTON
    2 GREENWAY PLZ 500
    HOUSTON,TX77046     		N/A PC General & Unrestricted 20,000
    TEAM RUBICON
    214 MAIN ST 354
    EL SEGUNDO,CA90245     		N/A PC General & Unrestricted 15,000
    TEXAS EQUUSEARCH
    PO BOX 395
    DICKINSON,TX77539     		N/A PC General & Unrestricted 10,000
    THE BROOKWOOD COMMUNITY INC
    1752 FM 1489
    BROOKSHIRE,TX77423     		N/A PC The Brookwood Community Program 5,000
    THE COUNCIL ON RECOVERY
    303 JACKSON HILL ST
    HOUSTON,TX77007     		N/A PC General & Unrestricted 15,000
    THE MONARCH SCHOOL INC
    2815 ROSEFIELD DR
    HOUSTON,TX77080     		N/A PC Scholarship fund 5,000
    THE POSSE FOUNDATION INC
    14 WALL ST STE 8A60
    NEW YORK,NY10005     		N/A PC Houston fund 5,000
    THE UNIVERSITY OF TEXAS AT AUSTIN
    PO BOX 7458
    AUSTIN,TX78713     		N/A GOV LANDMARKS PROGRAM, VISUAL ARTS CENTER AND CENTER OF ARTS AND ENTERTAINMENT TECHNOLOGY AT THE COLLEGE OF FINE ARTS 10,000
    UNITED WAY OF GREATER HOUSTON
    50 WAUGH DR
    HOUSTON,TX77007     		N/A PC Greater Houston Recovery - Covid-19 fund 5,000
    UNIVERSITY OF CENTRAL FLORIDA FOUNDATION INC
    12424 RESEARCH PKWY STE 250
    ORLANDO,FL32826     		N/A PC Limbitless Solutions, inc 5,000
    W OSCAR NEUHAUS MEMORIAL FOUNDATION
    4433 BISSONNET ST
    BELLAIRE,TX77401     		N/A PC General Operations 5,000
    WARRIORS & QUIET WATERS FOUNDATION
    351 EVERGREEN DR
    BOZEMAN,MT59715     		N/A PC General & Unrestricted 5,000
    WILD SKIES RAPTOR CENTER
    PO BOX 3676
    MISSOULA,MT59806     		N/A PC General & Unrestricted 10,000
    WILDLIFE CONSERVATION NETWORK INC
    209 MISSISSIPPI ST
    SAN FRANCISCO,CA94107     		N/A PC Painted Dog Conservation, CHEETAH CONSERVATION BOTSWANA, GIRAFFE CONSERVATION FOUNDATION, ETHIOPIAN WOLF CONSERVATION PROGRAM, NIASSA LION PROJECT, Siberian Tiger (Tigris) 110,000
    WOODS PROJECT INC
    2700 SW FWY STE B
    HOUSTON,TX77098     		N/A PC General & Unrestricted 10,000
    YELLOWSTONE ACADEMY INC
    3000 TRULLEY ST
    HOUSTON,TX77004     		N/A PC General & Unrestricted 5,000
    YELLOWSTONE FOREVER
    PO BOX 117
    YELLOWSTONE NATL PARK,WY82190     		N/A PC Yellowstone Wildlife Initiative 30,000
    YES PREP PUBLIC SCHOOLS INC
    5515 S LOOP EAST -
    HOUSTON,TX77033     		N/A PC General & Unrestricted 5,000
    YES PREP PUBLIC SCHOOLS INC
    5515 S LOOP EAST -
    HOUSTON,TX77033     		N/A PC General Operating Support 10,000
    Total .................................bullet 3a 810,000
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 5,383  
    4 Dividends and interest from securities....     14 159,536  
    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 ............     		525990 -30,444 18 2,690,187  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aK-1 Inc/Loss     		525990 -65,856 14 49,261  
    bFederal Tax Refund     01 7,300  
    cSEC 751 GAIN FROM PTSHP 525990 116,743      
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 20,443 2,911,667  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,932,110
    (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

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2020 DepreciationSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2020 GeneralExplanationAttachment
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Identifier Return Reference Explanation
    PART I LINE 6A (990-PF) - RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF PART I LINE 6A (990-PF) - RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF TOTAL INCLUDED IN PART IV: (DETAILS BELOW) NET GAIN/(LOSS): $2,690,187 TOTAL NOT INCLUDED IN PART IV: PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - UBI NET GAIN/(LOSS): $(30,444) TOTAL PART I, LINE 6A: $2,659,743 DETAILS OF ASSETS INCLUDED IN PART IV: PUBLICLY-TRAIDED SECURITIES GROSS SALES PRICE: $1,735,785 BOOK BASIS: $1,599,634 NET GAIN/(LOSS): $136,151 PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - NON UBI NET GAIN/(LOSS): $2,835,334 SALES OF OTHER ITEMIZED ASSETS GROSS SALES PRICE: $6,862,768 BOOK BASIS: $7,152,414 NET GAIN/(LOSS): $(289,646) SALES OF OTHER ITEMIZED ASSETS GROSS SALES PRICE: $48,478 BOOK BASIS: $40,130 NET GAIN/(LOSS): $8,348

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ABBOTT LABS BOND - 3.750% - 11 74,406 87,858
    BLACKROCK INC FR - 3.375% - 06 76,829 78,254
    CINTAS CORP - 3.700% - 04/01/2 106,314 115,217
    CISCO SYSTEMS INC - 3.625% - 0 103,130 109,944
    COMCAST CORP - 3.600% - 03/01/ 76,249 82,514
    DEERE JOHN CAP CORP - 2.800% - 20,126 21,012
    ELECTRONIC ARTS INC NOTE - 4.8 105,453 107,060
    GOLDMAN SACHS GROUP INC - 5.25 73,716 71,966
    INTEL CORP NOTE - 3.300% - 10/ 49,968 51,110
    MORGAN STANLEY - 3.125% - 01/2 52,974 52,769
    PFIZER INC NT - 3.400% - 05/15 100,426 109,891
    PRAXAIR INC NT - 2.200% - 08/1 45,819 51,257
    STRYKER CORP - 3.375% - 11/01/ 82,206 89,246
    UNITED PARCEL SERVICE - 3.400% 52,078 52,428

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABS 55,375 67,117
    ADOBE SYSTEMS, INC 87,941 118,528
    ADVANCED MICRO DEVICES INC 30,657 30,998
    AIA GROUP LTD ADR 11,634 14,444
    ALCON INC 7,747 8,445
    ALIBABA GROUP HOLDING LTD 51,399 41,891
    ALPHABET INC CL A 54,460 68,353
    ALPHABET INC CL C 90,565 117,376
    AMADEUS IT HLDS SA 10,149 14,277
    AMAZON COM 265,628 381,061
    AMERICAN ELECTRIC POWER INC 45,490 41,968
    AMERICAN TOWER REIT INC 38,690 35,016
    AMERICAN WATER WORKS COMPANY I 34,908 41,590
    AMPHENOL CORPORATION 22,605 25,239
    ANALOG DEVICES INC 42,584 54,512
    ANSYS INC 20,981 24,738
    APPLE INC 111,962 190,941
    ASML HOLDING NV NY REG SHS 23,176 30,726
    ASSA ABLOY UNSP/ADR 7,785 8,536
    ASTRAZENECA 53,337 48,140
    AUTOMATIC DATA PROCESSING INC 34,225 40,878
    BAE SYSTEMS PLC 5,676 6,760
    BANCO SANTANDER CEN 10,923 11,062
    BHP BILLITON LIMITED 9,964 13,068
    BLACKROCK INC 43,087 60,609
    BROOKFIELD ASSET MANAGEMENT CL 4,547 5,860
    CANADIAN NATL RAILWAY CO 6,855 7,360
    CHARLES SCHWAB CORP 61,235 83,803
    CHEVRON CORP 32,254 27,193
    CHIPOTLE MEX GRILL 21,061 24,961
    CHUBB LIMITED 7,213 8,927
    CIGNA CORPORATION 39,408 42,261
    CINTAS CRP 39,021 48,424
    CISCO SYSTEMS INC 75,247 75,583
    COHEN & STEERS PREFRRD SECS & 987,719 1,012,926
    COMCAST CORP 31,712 41,239
    COMPASS GROUP PLC ADR 7,683 7,380
    CONTL AG SPONS ADR 8,821 11,280
    COSTAR GROUP, INC 45,881 63,775
    DAIKIN INDS LTD ADR 12,618 15,229
    DANAHER CORP 84,863 116,179
    DBS GROUP HLDGS SPON ADR 6,529 7,909
    DEUTSCHE BOERSE ADR 5,159 5,543
    DIAGEO PLC ADS 8,757 9,687
    DOLLAR GENERAL CORP 42,710 51,524
    ECOLAB INC 73,334 73,995
    EDWARDS LIFESCIENCES 35,173 42,969
    EPAM SYSTEMS INC 18,252 28,310
    EURONET WORLDWIDE INC 37,792 45,215
    FANUC LIMITED UNSPONSORED 7,633 9,209
    FASTENAL COMPANY 21,341 22,706
    FIDELITY NATIONAL INFORMATION 73,679 76,247
    FISERV INC 65,590 68,771
    FLEETCOR TECHNOLGIES INC 11,817 11,732
    FOMENTO ECONOMICO MEXICANO 4,115 5,531
    GOLDMAN SACHS GROUP 30,539 35,865
    GRIFOLS SA REP 1/2 CL B 5,910 6,048
    HDFC BANK LTD ADR 25,593 28,687
    HEXAGON 5,336 6,527
    HOME DEPOT INC 60,354 69,061
    HONEYWELL INTL 69,761 93,588
    ICON PLC - AMERICAN DEPOSITARY 12,451 12,869
    IDEXX CORP 35,814 56,485
    IHS MARKIT LTD 13,106 16,349
    INTERCONTINENTAL EXCHANGE, INC 71,428 87,390
    INTERCONTINENTAL HOTELS GROUP 5,950 7,554
    INTUIT 9,544 12,535
    INTUITIVE SURGICAL 30,197 42,541
    JOHN HANCOCK FDS III DISCIPLIN 988,174 1,182,969
    JOHNSON & JOHNSON 80,292 88,290
    JP MORGAN CHASE 70,339 79,800
    JULIUS BAER GROUP LTD 7,596 9,445
    L'AIR LIQUIDE ADR OTC 10,000 10,722
    LAS VEGAS SANDS CORP 6,471 7,986
    LINDE PLC COM 50,967 66,405
    LLOYDS BANKING GROUP PLC 8,675 11,080
    LONDON STK EXCHANGE GROUP 8,239 9,065
    LULULEMON ATHLETICA INC 27,701 30,279
    LVMH MOET HENN UNSP 11,268 14,219
    MARTIN MARIETTA MATLS INC 27,429 36,348
    MASTERCARD INC 57,874 67,819
    MATTHEWS PACIFIC TIGER FUND I 1,346,915 1,781,932
    MEDTRONIC PLC 47,633 56,461
    MERCADOLIBRE, INC 5,114 6,701
    MICROSOFT CORP 206,613 267,349
    MONDELEZ INTERNATIONAL INC 56,868 63,323
    MONOLITHIC POWER SYSTEMS, INC 33,183 53,470
    NEW ORIENTAL ED & TECHNOLOGY G 5,406 5,946
    NEXTERA ENERGY, INC 46,285 58,634
    NIDEC CORPORATION ADR 11,595 14,614
    NOVARTIS AG ADR 9,153 10,671
    NVIDIA CORP 23,859 35,510
    OTIS WORLDWIDE CORP 30,700 36,409
    PAYPAL HOLDINGS, INC 30,435 45,669
    PEPSICO INC 53,225 59,913
    PIONEER NAT RES CO 26,634 28,017
    PNC FINANCIAL GROUP INC 38,871 46,041
    QUALCOMM INC 43,413 81,502
    RAYTHEON TECHNOLOGIES CORP 60,209 58,567
    RITCHIE BROS AUCTIONEERS 8,469 9,737
    ROPER INDUSTRIES 74,574 80,614
    ROYAL DUTCH SHELL CL A 4,654 7,098
    S&P GLOBAL INC COM 86,618 85,141
    SALESFORCE.COM 32,624 47,844
    SBA COMMUNICATIONS CORP 15,958 14,107
    SEVEN & I HOLDINGS C 5,365 5,967
    SHERWIN-WILLIAMS CO 38,990 47,769
    SIEMENS AG 9,078 9,476
    SMITH & NEPHEW PLC ADR 5,940 6,705
    SONY CORP ADR 7,795 10,110
    STRYKER CORPORATION 43,634 54,889
    SUNCOR ENERGY INC 3,887 5,386
    SYMRISE AG UNSPONSORED 10,925 10,879
    SYSMEX CORP UNSP ASDR 10,340 13,053
    T-MOBILE US INC 59,791 86,169
    TAIWAN SEMICONDUCTOR MFG CO LT 11,502 14,502
    TELEFLEX INC 11,357 13,582
    TEMENOS GROUP AG 4,826 6,090
    TENCENT HOLDINGS LIMITED 51,693 59,956
    TEXAS INSTRUMENTS INC 31,743 42,346
    THE BLACKSTONE GROUP INC CL A 103,612 119,315
    THERMO FISHER SCIENTIFIC INC 63,369 84,772
    TJX COMPANIES INC 53,009 64,876
    TOKIO MARINE HOLDINGS INC 5,199 5,854
    TREX CO INC 35,720 45,544
    TWEEDY BROWNE GLOBAL VALUE FUN 369,990 399,109
    TWILIO INC 19,525 25,049
    TYLER TECHNOLOGIES, INC 23,133 26,628
    UBISOFT ENTERTAIN UNSP ADR EAC 9,674 9,356
    UNION PACIFIC 49,520 61,633
    UNITED RENTALS INC 27,299 35,946
    UNITEDHEALTH GROUP INC 101,255 122,738
    US BANCORP 50,269 53,858
    V F CORP 31,069 36,299
    VERSUS CAPITAL REAL ASSETS FUN 563,031 570,441
    VESTAS WIND SYS UNSP/ADR 8,098 11,500
    VISA INC 103,964 120,739
    WALT DISNEY HOLDINGS CO 29,363 45,839
    WASTE MANAGEMENT INC 52,831 57,668
    YUM CHINA HOLDINGS INC 11,155 11,703
    ZOETIS INC 85,890 99,631

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    US Government Securities - End of Year Book Value:

    1,494,509
    US Government Securities - End of Year Fair Market Value:

    1,568,781
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2020 InvestmentsOtherSchedule2
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    AP ENERGY INFRASTRUCTURE FND L   682,840 866,017
    COUGAR INVESTMENT FUND LLC.   314,577 402,857
    LIGHTHOUSE DIVERSIFIED FD LTD   750,000 1,051,657
    PINEHURST INSTITUTIONAL LTD   775,000 949,353

    TY 2020 OtherExpensesSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 72,556     72,556
    Bank Charges 74 74    
    Foundation Dues & Memberships 1,000     1,000
    Indemnification Insurance 3,282     3,282
    K-1 Exp AP ENERGY INFRASTRUCTU 14,676 13,796    
    K-1 Exp COUGAR INVESTMENT FUND 1,673 1,673    
    K-1 Exp MBA INVESTMENT FUND, L 17,017 17,017    
    K-1 Exp MBA INVESTMENTS, LLC ( 82 82    


    TY 2020 OtherIncomeSchedule2
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss AP ENERGY INFRASTRUCTURE FND LLC -47,019 18,603  
    K-1 Inc/Loss COUGAR INVESTMENT FUND LLC. 6,135 6,135  
    K-1 Inc/Loss MBA INVESTMENT FUND, LLC (GROWTH) 24,032 22,897  
    K-1 Inc/Loss MBA INVESTMENTS, LLC (ENDOWMENT) 257 245  
    Federal Tax Refund 7,300    
    SEC 751 GAIN AP ENERGY INFRASTRUCTURE 116,743    


    TY 2020 OtherIncreasesSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Description Amount
    RETURNED GRANT 5,000


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 45,189 45,189    
    PROFESSIONAL MGMT SERVICES 13,887     13,887


    TY 2020 TaxesSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2020 33,200      
    990-PF Extension for 2019 5,992      
    990-T Extension for 2019 2,400      
    Foreign Tax Paid 134 134