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
THE ROE FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)301 N MAIN STREET NO 1735
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
GREENVILLE, SC29601
A Employer identification number

23-7011541
B Telephone number (see instructions)

(864) 242-5007
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$25,040,580J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 256,344 256,344  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,195,316
b Gross sales price for all assets on line 6a 31,585,508
7 Capital gain net income (from Part IV, line 2)... 3,195,316
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........ 3,451,660 3,451,660  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 6,000 1,200   4,800
14 Other employee salaries and wages...... 42,602 8,520   34,082
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 6,421 1,284   5,136
b Accounting fees (attach schedule)....... Click to see attachment 1,840 368   1,472
c Other professional fees (attach schedule).... Click to see attachment 84,524 84,524   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 49,718 647   2,544
19 Depreciation (attach schedule) and depletion... 403 403  
20 Occupancy.............. 18,961 3,792   15,169
21 Travel, conferences, and meetings....... 4,298 860   3,438
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 14,035 2,807   11,228
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 228,802 104,405   77,869
25 Contributions, gifts, grants paid....... 2,267,265 2,267,265
26 Total expenses and disbursements. Add lines 24 and 25 2,496,067 104,405   2,345,134
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 955,593
b Net investment income (if negative, enter -0-) 3,347,255
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............. 126,637 75,810 75,810
2 Savings and temporary cash investments......... 934,963 24,964,770 24,964,770
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 23,035,303 0 0
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 bullet21,722
Less: accumulated depreciation (attach schedule) bullet21,722 403 0 0
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 24,097,306 25,040,580 25,040,580
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 24,097,306 25,040,580
29 Total net assets or fund balances (see instructions)..... 24,097,306 25,040,580
30 Total liabilities and net assets/fund balances (see instructions). 24,097,306 25,040,580
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
24,097,306
2
Enter amount from Part I, line 27a .....................
2
955,593
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
25,052,899
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
12,319
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
25,040,580
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 VARIOUS   2020-01-01 2020-12-31
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 31,585,508   28,390,192 3,195,316
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       3,195,316
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 3,195,316
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 46,527
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 46,527
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 46,527
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 54,000
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 54,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 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 7,473
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet7,473 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletSC
    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 .Click to see attachment
    8b
     
    No
    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 ofbulletSHIRLEY W ROE Telephone no.bullet (864) 242-5007

    Located atbullet301 N MAIN STREET SUITE 1735GREENVILLESC ZIP+4bullet29601
    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
    SHIRLEY W ROE CHAIRMAN
    10.00     		1,000 0 0
    301 NORTH MAIN STREET SUITE 1735
    GREENVILLE,SC29601
    EDWIN J FEULNER JR VICE CHAIRMAN
    0.50     		1,000 0 0
    301 NORTH MAIN STREET SUITE 1735
    GREENVILLE,SC29601
    CARL O HELSTROM III DIRECTOR
    0.50     		1,000 0 0
    301 NORTH MAIN STREET SUITE 1735
    GREENVILLE,SC29601
    TRACIE SHARP DIRECTOR
    0.50     		1,000 0 0
    301 NORTH MAIN STREET SUITE 1735
    GREENVILLE,SC29601
    THOMAS L WILLCOX DIRECTOR
    0.50     		1,000 0 0
    301 NORTH MAIN STREET SUITE 1735
    GREENVILLE,SC29601
    BYRON S LAMM DIRECTOR
    0.50     		1,000 0 0
    301 NORTH MAIN STREET SUITE 1735
    GREENVILLE,SC29601
    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
    19,240,616
    b
    Average of monthly cash balances.......................
    1b
    5,591,788
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    24,832,404
    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
    24,832,404
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    372,486
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    24,459,918
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,222,996
    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
    1,222,996
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    46,527
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    46,527
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,176,469
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,176,469
    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
    1,176,469
    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
    2,345,134
    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
    2,345,134
    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
    2,345,134
    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 1,176,469
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 310,445
    b From 2016...... 562,779
    c From 2017...... 597,491
    d From 2018...... 534,049
    e From 2019...... 805,035
    fTotal of lines 3a through e........ 2,809,799
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 2,345,134
    a Applied to 2019, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 1,176,469
    e Remaining amount distributed out of corpus 1,168,665
    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 3,978,464
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		310,445
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		3,668,019
    10 Analysis of line 9:
    a Excess from 2016.... 562,779
    b Excess from 2017.... 597,491
    c Excess from 2018.... 534,049
    d Excess from 2019.... 805,035
    e Excess from 2020.... 1,168,665
    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 email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ACTON INSTITUTE
    98 E FULTON STREET
    GRAND RAPIDS,MI49503     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 10,000
    ALABAMA POLICY INSTITUTE
    2213 MORRIS AVENUE F1
    BIRMINGHAM,AL35203     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    ALASKA POLICY FORUM
    7926 OLD SEWARD HIGHWAY SUITE A6
    ANCHORAGE,AK99518     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 15,000
    AMERICAN LEGISLATIVE EXCHANGE COUNCIL
    2900 CRYSTAL DRIVE 6TH FLOOR
    ARLINGTON,VA22202     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 2,500
    AMERICA'S FUTURE FOUNDATION
    1633 CONNECTICUT AVENUE NW SUITE
    300
    WASHINGTON,DC20009     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 35,000
    ARKANSAS POLICY FOUNDATION
    111 CENTER STREET SUITE 1200
    LITTLE ROCK,AR72201     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 7,500
    BADGER INSTITUTE
    700 W VIRGINIA STREET 301
    MILWAUKEE,WI53204     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    BALLOTPEDIA
    8383 GREENWAY BLVD SUITE 600
    MIDDLETON,WI53562     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 10,000
    BEACON CENTER OF TENNESSEE
    PO BOX 198646
    NASHVILLE,TN37219     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    BLUEGRASS INSTITUTE
    PO BOX 11706
    LEXINGTON,KY40577     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    BUCKEYE INSTITUTE
    88 E BROAD STREET SUITE 1300
    COLUMBUS,OH43215     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 30,000
    CAESAR RODNEY INSTITUTE
    420 CORPORATE BLVD
    NEWARK,DE19702     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    CALIFORNIA POLICY CENTER
    18002 IRVINE BLVD SUITE 110
    TUSTIN,CA92780     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    CARDINAL INSTITUE OF WEST VIRGINIA
    1632 QUARRIER STREET
    CHARLESTON,WV25311     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 20,000
    CASCADE POLICY INSTITUTE
    4850 SW SCHOLLS FERRY ROAD SUITE
    103
    PORTLAND,OR97225     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    CENTER OF THE AMERICAN EXPERIMENT
    8421 WAYZATA BOULEVARD SUITE 110
    GOLDEN VALLEY,MN55426     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    CHARLOTTE LOZIER INSTITUTE
    2800 SHIRLINGTON ROAD SUITE 1200
    ARLINGTON,VA22206     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 2,500
    CIVITAS INSTITUTE
    811 SPRING FOREST ROAD SUITE 900
    RALEIGH,NC27609     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    CLEMSON INSTITUTE
    SUITE 285 CHANDLER L BURNS HALL 225
    WALTER T COX BLVD
    CLEMSON,SC29634     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    COLLEGE FIX
    PO BOX 76
    HILLSDALE,MI49242     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 10,000
    COMMONWEALTH FOUNDATION
    420 N 3RD STREET
    HARRISBURG,PA17101     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    COMPETITIVE ENTERPRISE INSTITUTE
    1310 L STREET NW 7TH FLOOR
    WASHINGTON,DC20005     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 20,000
    EMPIRE CENTER FOR PUBLIC POLICY
    30 SOUTH PEARL STREET SUITE 1210
    ALBANY,NY12207     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    EMPOWER MISSISSIPPI
    1000 NORTHPARK DRIVE
    RIDGELAND,MS39157     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    ETHAN ALLEN INSTITUTE
    PO BOX 543
    MONTPELIER,VT05601     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 10,000
    EXPONENT PHILANTHROPY
    1720 N STREET NW
    WASHINGTON,DC20036     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 765
    FEDERALIST SOCIETY
    1776 I STREET NW SUITE 300
    WASHINGTON,DC20006     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 5,000
    FIDELITY CHARITABLE GIFT FUND
    FIDELITY CHARITABLE 200 SEAPORT
    BLVD
    BOSTON,MA02210     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 450,000
    FOUNDATION FOR ECONOMIC EDUCATION
    1819 PEACHTREE ROAD NE SUITE 300
    ATLANTA,GA30309     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 7,500
    FOUNDATION FOR GOVERNMENT ACCOUNTABILITY
    15275 COLLIER BLVD
    NAPLES,FL34119     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 30,000
    FRANKLIN NEWS FOUNDATION
    200 WEST MADISON STREET SUITE 2100
    CHICAGO,IL60606     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 5,000
    FREEDOM FOUNDATION
    PO BOX 552
    OLYMPIA,WA98507     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    FREEDOM FOUNDATION OF MINNESOTA
    825 NICOLLET MALL SUITE 815
    MINNEAPOLIS,MN55402     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 20,000
    FUND FOR AMERICAN STUDIES
    1706 NEW HAMPSHIRE AVENUE NW
    WASHINGTON,DC20009     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 5,000
    GARDEN STATE INITIATIVE
    PO BOX 9180
    MORRISTOWN,NJ07963     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    GEORGIA CENTER OF OPPORTUNITY
    333 RESEARCH COURT 210
    PEACHTREE CORNERS,GA30092     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    GEORGIA PUBLIC POLICY FOUNDATION
    3200 COBB GALLERIA PKWY UNIT 214
    ATLANTA,GA30339     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    GOLDWATER INSTITUTE
    500 EAST CORONADO ROAD
    PHOENIX,AZ85004     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 30,000
    GRASSROOT INSTITUTE OF HAWAII
    1050 BISHOP STREET 508
    HONOLULU,HI96813     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 20,000
    IDAHO FREEDOM FOUNDATION
    802 W BANNOCK STREET 405
    BOISE,ID83702     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 20,000
    ILLINOIS POLICY INSTITUTE
    190 SOUTH LASALLE STREET SUITE 1500
    CHICAGO,IL60603     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    INDEPENDENCE INSTITUTE
    727 E 16TH AVENUE
    DENVER,CO80203     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    INDIANA POLICY REVIEW FOUNDATION
    PO BOX 5166
    FORT WAYNE,IN46895     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 20,000
    INSTITUTE FOR HUMANE STUDIES
    VERNON SMITH HALL 1ST FLOOR 3434
    WASHINGTON BLVD
    ARLINGTON,VA22201     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 5,000
    INSTITUTE FOR JUSTICE
    901 N GLEBE ROAD SUITE 900
    ARLINGTON,VA22203     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 10,000
    INTERCOLLEGIATE STUDIES INSTITUTE
    3901 CENTERVILLE ROAD
    WILMINGTON,DE19807     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 10,000
    JAMES MADISON INSTITUTE
    100 NORTH DUVAL STREET
    TALLAHASSEE,FL32301     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    JAMES MADISON INSTITUTE
    100 NORTH DUVAL STREET
    TALLAHASSEE,FL32301     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 50,000
    JOHN LOCKE FOUNDATION
    4800 SIX FORKS ROAD 220
    RALEIGH,NC27609     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    JOSIAH BARTLETT CENTER FOR PUBLIC POLICY
    PO BOX 897
    CONCORD,NH033020897     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    KANSAS POLICY INSTITUTE
    250 N WATER SUITE 216
    WICHITA,KS67202     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 20,000
    LIBERTAS INSTITUTE
    2183 W MAIN STREET SUITE A102
    LEHI,UT84043     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 15,000
    LIBERTY JUSTICE CENTER
    208 S LASALLE STREET SUITE 1690
    CHICAGO,IL60604     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 2,500
    MACKINAC CENTER FOR PUBLIC POLICY
    140 WEST MAIN STREET
    MIDLAND,MI48640     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    MAINE POLICY INSTITUTE
    45 FOREST FALLS DRIVE SUITE B4
    YARMOUTH,ME04096     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    MARYLAND PUBLIC POLICY INSTITUTE
    1 RESEARCH COURT 450
    ROCKVILLE,MD20850     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 20,000
    MEDIA RESEARCH CENTER
    1900 CAMPUS COMMONS DRIVE SUITE 600
    RESTON,VA20191     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 1,000
    MERCATUS CENTER
    GEORGE MASON UNIVERSITY 3434
    WASHINGTON BLVD 4TH FLOOR
    ARLINGTON,VA22201     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 5,000
    MISSISSIPPI CENTER FOR PUBLIC POLICY
    520 GEORGE STREET
    JACKSON,MS39202     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    MONT PELERIN SOCIETY
    313 FLETCHER HALL 615 MCC DEPARTMEN
    6106
    CHATTANOOGA,TN37403     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 10,000
    NETWORK OF ENLIGHTENED WOMEN
    1360 EAST CAPITAL STREET NE
    WASHINGTON,DC20003     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 1,000
    NEVADA POLICY RESEARCH INSTITUTE
    7130 PLACID STREET
    LAS VEGAS,NV89119     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    NEW CRITERION
    900 BROADWAY SUITE 602
    NEW YORK,NY10003     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 1,000
    OKLAHOMA COUNCIL OF PUBLIC AFFAIRS
    1401 N LINCOLN BLVD 2801
    OKLAHOMA CITY,OK73104     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    OPEN THE BOOKS
    200 SOUTH FRONTAGE ROAD SUITE 106
    BURR RIDGE,IL60527     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 1,000
    PACIFIC RESEARCH INSTITUTE
    PO BOX 60485
    PASADENA,CA91116     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    PELICAN INSTITUTE FOR PUBLIC POLICY
    400 POYDRAS STREET 900
    NEW ORLEANS,LA70130     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    PHILADELPHIA SOCIETY
    11620 RUTAN CIRCLE
    JEROME,MI49249     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 10,000
    PHILANTHROPY ROUNDTABLE
    1120 20TH STREET NW SUITE 550 SOUTH
    WASHINGTON,DC20036     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 2,500
    PIONEER INSTITUTE
    185 DEVONSHIRE STREET
    BOSTON,MA02110     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    PLATTE INSTITUTE FOR ECONOMIC RESEARCH
    6910 PACIFIC STREET 216
    OMAHA,NE68106     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 15,000
    PROPERTY & ENVIRONMENT RESEARCH CENTER
    2048 ANALYSIS DRIVE SUITE A
    BOZEMAN,MT59718     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 20,000
    REASON FOUNDATION
    1747 CONNECTICUT AVENUE NW
    WASHINGTON,DC20009     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 5,000
    RHODE ISLAND CENTER FOR JUSTICE
    1 EMPIRE PLAZA SUITE 410
    PROVIDENCE,RI02903     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 15,000
    RIO GRANDE FOUNDATION
    400 GOLD AVENUE SW SUITE 909
    ALBUQUERQUE,NM87102     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 15,000
    RUSSELL KIRK CENTER
    729 W MAIN STREET
    MECOSTA,MI49332     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 10,000
    SHOW-ME INSTITUTE
    5297 WASHINGTON PLACE
    SAINT LOUIS,MO63108     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    STATE POLICY NETWORK
    1655 NORTH FORT MYER DRIVE SUITE
    360
    ARLINGTON,VA22209     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 150,000
    STEAMBOAT INSTITUTE
    300 INDEPENDENCE AVENUE SE
    WASHINGTON,DC20003     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 2,500
    SUTHERLAND INSTITUE
    15 WEST SOUTH TEMPLE SUITE 200
    SALT LAKE CITY,UT84101     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    TEXAS PUBLIC POLICY FOUNDATION
    901 CONGRESS AVENUE
    AUSTIN,TX78701     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 30,000
    THE HERITAGE FOUNDATION
    214 MASSACHUSETTS AVENUE NE
    WASHINGTON,DC200024999     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 125,000
    THOMAS JEFFERSON INSTITUTE
    7011 DREAMS WAY COURT
    ALEXANDRIA,VA22315     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 15,000
    VIRGINIA INSTITUTE FOR PUBLIC POLICY
    PO BOX 1123
    ABINGDON,VA24212     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 15,000
    WASHINGTON POLICY CENTER
    9 S WASHINGTON STREET SUITE 212
    SPOKANE,WA99201     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 30,000
    WISCONSIN INSTITUTE FOR LAW & LIBERTY
    210 E KNAPP STREET
    MILWAUKEE,WI53202     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 30,000
    WYOMING LIBERTY GROUP
    1902 THOMES AVENUE 201A
    CHEYENNE,WY82001     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 15,000
    YANKEE INSTITUTE
    216 MAIN STREET
    HARTFORD,CT06106     		NONE PUBLIC CHARITY GENERAL OPERATING BUDGET 25,000
    Total .................................bullet 3a 2,267,265
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 256,344  
    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 ............     		    14 3,195,316  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 3,451,660 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    3,451,660
    (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:
    THE ROE FOUNDATION
    EIN:
    23-7011541
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 1,840 368   1,472

    TY 2020 ExplnOfNonFilingWithAGStmt
    Name:
    THE ROE FOUNDATION
    EIN:
    23-7011541
    Statement:
    AT THIS POINT IN TIME, THE SOUTH CAROLINA ATTORNEY GENERAL'S OFFICE NO LONGER REQUESTS THE ANNUAL FILING. THE ROE FOUNDATION WILL COMPLY WITH ANY REQUEST TO FURNISH THE 990-PF.

    TY 2020 LegalFeesSchedule
    Name:
    THE ROE FOUNDATION
    EIN:
    23-7011541
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 6,421 1,284   5,136


    TY 2020 OtherDecreasesSchedule
    Name:
    THE ROE FOUNDATION
    EIN:
    23-7011541
    Description Amount
    PRIOR PERIOD ADJUSTMENT 12,319


    TY 2020 OtherExpensesSchedule
    Name:
    THE ROE FOUNDATION
    EIN:
    23-7011541
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 2,616 523   2,093
    OFFICE EXPENSES 6,096 1,220   4,876
    POSTAGE 947 189   758
    TELEPHONE 2,805 561   2,244
    SUBSCRIPTIONS 1,571 314   1,257


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    THE ROE FOUNDATION
    EIN:
    23-7011541
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FIDUCIARY FEES 26,847 26,847   0
    INVESTMENT MANAGERS 30,096 30,096   0
    INVESTMENT COUNSELORS 27,581 27,581   0


    TY 2020 TaxesSchedule
    Name:
    THE ROE FOUNDATION
    EIN:
    23-7011541
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL 3,180 636   2,544
    FOREIGN 11 11   0
    FEDERAL EXCISE TAX 46,527 0   0