Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
ESTELLE J KELSEY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)5008 LAKERIDGE TERRACE EAST
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
RENO, NV89509
A Employer identification number

46-3362061
B Telephone number (see instructions)

(775) 826-4860
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$26,167,534J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 192 192  
4 Dividends and interest from securities... 297,422 297,422  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 139,804
b Gross sales price for all assets on line 6a 3,954,711
7 Capital gain net income (from Part IV, line 2)... 139,804
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 437,418 437,418  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 120,000 48,000   72,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 6,925 3,462   3,463
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 11,018 0   0
19 Depreciation (attach schedule) and depletion... Click to see attachment 3,739 0  
20 Occupancy.............. 10,377 4,151   6,226
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 599 239   360
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 152,658 55,852   82,049
25 Contributions, gifts, grants paid....... 975,800 975,800
26 Total expenses and disbursements. Add lines 24 and 25 1,128,458 55,852   1,057,849
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -691,040
b Net investment income (if negative, enter -0-) 381,566
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............. 419,929 301,211 301,211
2 Savings and temporary cash investments......... 849,075 527,471 527,471
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 2,976,517 Click to see attachment2,998,357 2,999,085
b Investments—corporate stock (attach schedule)....... 12,586,379 Click to see attachment12,317,560 22,188,710
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet177,018
Less: accumulated depreciation (attach schedule) bullet25,961 154,796 Click to see attachment151,057 151,057
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 16,986,696 16,295,656 26,167,534
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 16,986,696 16,295,656
29 Total net assets or fund balances (see instructions)..... 16,986,696 16,295,656
30 Total liabilities and net assets/fund balances (see instructions). 16,986,696 16,295,656
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
16,986,696
2
Enter amount from Part I, line 27a .....................
2
-691,040
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
16,295,656
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
16,295,656
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 2135 SHS BRISTOL MYERS SQUIBB RTS P 2019-11-21 2020-06-22
b 3000 SHS CENTENE CORP DEL P 2020-05-01 2020-09-19
c 1000 SHS GOLDMAN SACHS GROUP INC P 2020-01-21 2020-09-29
d 2240 SHS MONDELEZ INTL INC CL A P 2019-10-01 2020-07-16
e 1022 PALO ALTO NETOWRKS INC P 2019-11-15 2020-04-13
2400 SHS QUEST DIAGNOSTICS INC P 2019-08-30 2020-05-01
1000 SHS QUEST DIAGNOSTICS INC P 2019-10-01 2020-05-01
1274 SHS AON PLC A P 2019-11-15 2020-11-02
1762 SHS CHEVRON CORP P 2014-01-16 2020-04-13
665 SHS CHEVRON CORP P 2014-02-03 2020-04-13
570 SHS CHEVRON CORP P 2018-08-17 2020-04-13
6000 SHS COMCAST CORP P 2019-03-29 2020-05-18
990 SHS GOLDMAN SACHS GROUP P 2017-02-21 2020-01-10
700 SHS GOLDMAN SACHS GROUP P 2017-05-16 2020-01-10
846 SHS JPMORGAN CHASE P 2014-01-16 2020-01-21
5000 SHS MC CORMICK & CO P 2017-12-18 2020-12-16
1925 SHS MCDONALDS CORP P 2017-02-21 2020-12-16
600 SHS TRUIST FINL CORP P 2015-12-31 2020-01-21
1450 SHS TRUIST FINL CORP P 2015-12-31 2020-01-21
5000 SHS TRUIST FINL CORP P 2015-12-31 2020-04-13
3583 SHS V F CORP P 2018-03-16 2020-04-20
4000 SHS EATON CORP PLC P 2019-03-29 2020-06-16
(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 6,355   4,911 1,444
b 175,369   192,217 -16,848
c 195,444   248,077 -52,633
d 118,620   123,002 -4,382
e 183,742   252,522 -68,780
254,629   247,142 7,487
106,096   106,597 -501
230,445   252,191 -21,746
150,732   209,168 -58,436
56,888   74,106 -17,218
48,761   67,091 -18,330
225,709   240,247 -14,538
240,214   249,463 -9,249
169,848   158,074 11,774
116,333   49,930 66,403
460,481   255,950 204,531
366,805   245,907 120,898
33,616   22,879 10,737
81,238   55,267 25,971
172,114   190,576 -18,462
203,284   255,583 -52,299
357,988   314,007 43,981
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       1,444
b       -16,848
c       -52,633
d       -4,382
e       -68,780
      7,487
      -501
      -21,746
      -58,436
      -17,218
      -18,330
      -14,538
      -9,249
      11,774
      66,403
      204,531
      120,898
      10,737
      25,971
      -18,462
      -52,299
      43,981
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 2 139,804
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		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 5,304
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 5,304
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 5,304
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 10,760
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 10,760
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 5,456
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet5,456 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
    No
    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)
    bulletNV
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletDON BERNARD SR Telephone no.bullet (775) 826-4860

    Located atbullet5008 LAKERIDGE TERRACE EASTRENONV ZIP+4bullet89509
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    DONALD BERNARD SR TRUSTEE/CHAIRMAN/PRESIDENT
    20.00     		65,000 0 0
    5008 LAKERIDGE TERRACE EAST
    RENO,NV89509
    CAROLYN BERNARD TRUSTEE/SECRETARY/TREASURE
    4.00     		40,000 0 0
    5008 LAKERIDGE TERRACE EAST
    RENO,NV89509
    DONALD BERNARD II TRUSTEE
    1.00     		15,000 0 0
    5008 LAKERIDGE TERRACE EAST
    RENO,NV89509
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    21,814,205
    b
    Average of monthly cash balances.......................
    1b
    1,351,183
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    23,165,388
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    23,165,388
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    347,481
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    22,817,907
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,140,895
    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
    1,140,895
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    5,304
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    5,304
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,135,591
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,135,591
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,135,591
    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
    1,057,849
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,057,849
    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
    1,057,849
    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 1,135,591
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 1,035,754
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 1,057,849
    a Applied to 2019, but not more than line 2a 1,035,754
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 22,095
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		1,113,496
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    ESTELLE J KELSEY FOUNDATION
    5008 LAKERIDGE TERRACE EAST
    RENO,NV89509
    (775) 826-4860
    bThe form in which applications should be submitted and information and materials they should include:
    SOLICITATIONS FOR GRANTS OR FUNDS MUST MEET FOUNDATION CRITERIA AS TO BEING OF A CHARITABLE NATURE AND FOR A SPECIFIC PROJECT OR PURPOSE.
    cAny submission deadlines:
    NO SPECIFIC SUBMISSION DEADLINES ARE IN EFFECT AT PRESENT.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    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
    ARTOWN
    528 W FIRST STREET
    RENO,NV89503     		  PC DISCOVER THE ARTS SERRIES 10,000
    ASSISTANCE LEAGUE OF RENO SPARKS
    1701 VASSAR STREET
    RENO,NV89502     		  PC FOOD PANTRY 20,000
    BOYS AND GIRLS CLUB (MASON VALLEY)
    124 N MAIN ST
    YERINGTON,NV89447     		  PC EARLY CHILD CARE PROGRAM 20,000
    BOYS AND GIRLS CLUB (TRUCKEE MEADOWS)
    2680 NINTH STREET
    RENO,NV89512     		  PC MIDDLE SCHOOL CENTER PROJECT 170,000
    BOYS AND GIRLS CLUB OF WESTERN NEVADA
    1870 RUSSELL WAY 9A
    RENO,NV89512     		  PC EDUCATION 20,000
    CARE CHEST OF SIERRA NEVADA
    7910 N VIRGINIA ST
    RENO,NV89506     		  PC SUPPORT MEDICAL RESOURCE PROGRAMS 20,000
    CATHOLIC CHARITIES
    PO BOX 5099
    RENO,NV89513     		  PC FOOD PROGRAM 30,000
    CHILDREN'S CANCER FOUNDATION
    3550 BARRON WAY 9A
    RENO,NV89511     		  PC SCHOLARSHIPS 10,000
    COMMUNITY HEALTH ALLIANCE
    680 SOUTH ROCK BLVD
    RENO,NV89502     		  PC HEALTHCARE FOR THE POOR 10,000
    EDDY HOUSE
    888 WILLOW STREET
    RENO,NV89502     		  PC EXPANSION PROJECT 2020 10,000
    FOOD BANK OF NORTHERN NEVADA
    550 ITALY DRIVE
    SPARKS,NV89437     		  PC FOOD FOR THE POOR 20,000
    HOPES OF NORTHERN NEVDADA
    580 W 5TH STREET
    RENO,NV89503     		  PC CREATION OF HOPE SPRINGS 20,000
    LEMELSON STEM ACADEMY
    2001 SOARING EAGLE DR
    RENO,NV89512     		  PC CLASS ROOM BARRIERS 6,500
    MARK TWAIN ELEMENTARY SCHOOL
    2111 CARRIAGE CREST DRIVE
    CARSON CITY,NV89706     		  PC TECHNOLOGY 1,000
    NEVADA COMMUNITY FOUNDATION
    1980 FESTIVAL PLAZA 300
    LAS VEGAS,NV89135     		  PC COVID-19 EMERGENCY FUND 10,000
    NEVADA HEALTH CENTER
    3325 RESEARCH WAY
    CARSON CITY,NV89706     		  PC MAMMOGRAMS SCREENINGS 10,000
    NEVADA INTERFAITH ASSOCIATION
    570 HAMMILL LANE
    RENO,NV89511     		  PC NIA YOUTH SUMMIT 10,000
    NEVADA MUSEUM OF ART
    160 W LIBERTY
    RENO,NV89501     		  PC HANDS ON PROGRAM 150,000
    NEVADA WOMEN'S HISTORY PROJECT
    995 PINERIDGE
    RENO,NV89509     		  PC WOMEN'S HISTORY 5,000
    PBS RENO
    1670 NORTH VIRGINIA STREET
    RENO,NV89503     		  PC READY TO LEARN PROJECT 5,000
    RENO PHILHARMONIC
    925 RIVERSIDE DRIVE 3
    RENO,NV89706     		  PC RPAK AFTER SCHOOL PROGRAM 5,000
    RENO-SPARKS GOSPEL MISSION
    2115 TIMBER WAY
    RENO,NV89513     		  PC FOOD FOR THE POOR 10,000
    RENOWN HEALTH FOUNDATION
    245 E LIBERTY STREET 400
    RENO,NV89501     		  PC REMODEL REHABILITATION HOSPITAL; CHILDREN'S HOSPITAL 203,500
    RONALD MCDONALD HOUSE
    323 MAIN STREET
    RENO,NV89502     		  PC CHILDREN IN NORTHERN NEVADA 10,000
    SALVATION ARMY
    1931 SUTRO STREET
    RENO,NV89512     		  PC FOOD FOR THE POOR 19,800
    SIERRA KIDS FOUNDATION
    348 MILL STREET
    RENO,NV89501     		  PC AUTISM PROGRAM 10,000
    UNIVERSITY OF NEVADA FOUNDATION
    MORRILL HALL/007
    RENO,NV89557     		  PC UNR MEDICAL SCHOOL - RESEARCH PROGRAM 160,000
    Total .................................bullet 3a 975,800
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 192  
    4 Dividends and interest from securities....     14 297,422  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 139,804  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 437,418 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    437,418
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    ESTELLE J KELSEY FOUNDATION
    EIN:
    46-3362061
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PREPARATION OF 990-PF AND ACCOUNTING FEES 6,925 3,462   3,463

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

    TY 2020 DepreciationSchedule
    Name:
    ESTELLE J KELSEY FOUNDATION
    EIN:
    46-3362061
    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
    COMPUTER EQUIPMENT 2014-12-24 1,503 1,503 SL 5.000000000000 0 0    
    BUILDING-LAKERIDGE TER E 2014-06-16 126,248 17,804 SL 39.000000000000 3,237 0    
    LAND-LAKERIDGE TER E 2014-06-16 45,752   L   0 0    
    MACABEE OFFICE FURNITURE 2014-01-29 1,981 1,674 SL 7.000000000000 283 0    
    CONDO FURNISHINGS 2014-04-20 1,534 1,241 SL 7.000000000000 219 0    

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    ESTELLE J KELSEY FOUNDATION
    EIN:
    46-3362061
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AMERICAN TOWER CORP NEW 187,354 504,586
    ANALOG DEVICES INC 237,465 702,899
    APPLE INC 325,201 2,173,462
    BP PLC 245,087 102,600
    BANK AMERICA CORP 145,457 303,100
    BLACKROCK INC 280,265 634,955
    CONSTELLATION BRANDS 118,113 141,287
    COSTCO 224,625 280,701
    CRISPR THERAPEUTICS 141,604 306,220
    DOLLAR TREE 230,181 220,942
    DOMINOS PIZZA 362,205 369,655
    EDWARDS LIFESCIENCES 171,798 187,022
    GENERAL ELECTRIC COMPANY 607,751 259,200
    JP MORGAN CHASE & COMPANY 177,058 381,210
    MASTERCARD INC CLASS A 226,851 1,020,491
    MERCK & COMPANY INC 151,280 213,498
    PHILIP MORRIS INTL INC 386,408 413,950
    SCHLUMBERGER LTD 349,564 88,957
    VERIZON COMMUNICATIONS INC 213,737 263,083
    ALPHABET INC 392,759 1,051,584
    ALTRIA GROUP 255,370 205,000
    AMAZON 238,500 1,042,218
    MICROSOFT CORP 215,312 945,285
    WALMART 248,372 486,506
    ALIBABA GROUP HOLDING LTD 93,386 116,365
    APTIV PLC 254,208 390,870
    FACEBOOK INC 384,718 789,432
    HOME DEPOT INC 342,107 630,847
    NEXTERA ENERGY INC 258,803 624,915
    NIKE 203,378 323,966
    OREILLY AUTOMOTIVE INC. 229,874 238,052
    SALESFORCE.COM INC 370,067 573,015
    THERMO FISHER SCIENTIFIC INC 188,065 551,949
    HONEYWELL INTL INC 315,545 460,496
    IQVIA HOLDINGS 238,787 392,203
    INTEL CORP 99,280 99,640
    KEYSIGHT TECHNOLOGIES 200,567 632,711
    PAYPAL HOLDINGS 194,332 585,500
    PIONEER NATURAL RESOURCES 230,258 221,630
    ROCKWELL AUTOMATION 362,528 422,615
    SPDR GOLD SHARES 170,588 178,360
    UNION PACIFIC 195,140 206,138
    ABBOT LABORATORIES 239,910 328,470
    ADOBE INC. 295,315 553,133
    FISERV INC. 348,371 458,287
    WALT DISNEY 433,718 543,540
    WASTE MANAGEMENT 362,156 368,531
    BRISTOL MYERS SQUIBB 120,435 132,434
    DEFIANCE DEXT GEN. CONNECT ETF 53,707 67,200

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    ESTELLE J KELSEY FOUNDATION
    EIN:
    46-3362061
    US Government Securities - End of Year Book Value:

    2,998,357
    US Government Securities - End of Year Fair Market Value:

    2,999,085
    State & Local Government Securities - End of Year Book Value:


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


    0


    TY 2020 LandEtcSchedule2
    Name:
    ESTELLE J KELSEY FOUNDATION
    EIN:
    46-3362061
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    COMPUTER EQUIPMENT 1,503 1,503 0 0
    BUILDING-LAKERIDGE TER E 126,248 21,041 105,207 105,207
    LAND-LAKERIDGE TER E 45,752 0 45,752 45,752
    MACABEE OFFICE FURNITURE 1,981 1,957 24 24
    CONDO FURNISHINGS 1,534 1,460 74 74


    TY 2020 OtherExpensesSchedule
    Name:
    ESTELLE J KELSEY FOUNDATION
    EIN:
    46-3362061
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE EXPENSES 183 73   110
    WEBSITE 241 96   145
    LICENSE AND PERMITS 175 70   105


    TY 2020 TaxesSchedule
    Name:
    ESTELLE J KELSEY FOUNDATION
    EIN:
    46-3362061
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ESTIMATED TAX PAYMENTS 10,760 0   0
    2019 TAX DUE 258 0   0