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
THURSTON FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)5307 WOODFIELD S DRIVE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CARMEL, IN46033
A Employer identification number

35-1754670
B Telephone number (see instructions)

(317) 373-1688
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$19,511,882J 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) 13,282,757
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 131,088 131,088  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 177,619
b Gross sales price for all assets on line 6a 2,108,674
7 Capital gain net income (from Part IV, line 2)... 177,619
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 13,941 814  
12 Total. Add lines 1 through 11........ 13,605,405 309,521  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 13,333 0   13,333
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 21,998 0   21,998
c Other professional fees (attach schedule).... Click to see attachment 21,250 20,415   835
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 3,157 393   1,020
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 59,738 20,808   37,186
25 Contributions, gifts, grants paid....... 157,250 157,250
26 Total expenses and disbursements. Add lines 24 and 25 216,988 20,808   194,436
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 13,388,417
b Net investment income (if negative, enter -0-) 288,713
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 674,558 5,180,656 5,180,656
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) 0 Click to see attachment25,002 25,022
b Investments—corporate stock (attach schedule)....... 1,007,943 Click to see attachment3,588,455 4,273,289
c Investments—corporate bonds (attach schedule)....... 1,581,955 Click to see attachment3,419,999 3,486,806
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,779,583 Click to see attachment6,188,449 6,546,109
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 5,044,039 18,402,561 19,511,882
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 456,939 456,939
28 Retained earnings, accumulated income, endowment, or other funds 4,587,100 17,945,622
29 Total net assets or fund balances (see instructions)..... 5,044,039 18,402,561
30 Total liabilities and net assets/fund balances (see instructions). 5,044,039 18,402,561
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
5,044,039
2
Enter amount from Part I, line 27a .....................
2
13,388,417
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
10
4
Add lines 1, 2, and 3 ..........................
4
18,432,466
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
29,905
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
18,402,561
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES   2019-12-23 2020-11-18
b PUBLICLY TRADED SECURITIES   2020-12-07 2020-12-08
c PUBLICLY TRADED SECURITIES   2019-11-18 2019-12-31
d PUBLICLY TRADED SECURITIES   2019-12-03 2020-10-23
e PUBLICLY TRADED SECURITIES   2020-11-18 2020-12-31
PUBLICLY TRADED SECURITIES   2019-11-05 2020-08-14
PUBLICLY TRADED SECURITIES   2019-12-16 2020-11-30
PUBLICLY TRADED SECURITIES   2020-03-20 2020-12-31
PUBLICLY TRADED SECURITIES   2020-11-19 2020-12-31
PUBLICLY TRADED SECURITIES   2019-04-15 2020-11-18
PUBLICLY TRADED SECURITIES   2019-11-18 2020-12-31
PUBLICLY TRADED SECURITIES   2018-12-11 2020-12-31
PUBLICLY TRADED SECURITIES   2019-11-18 2020-11-20
PUBLICLY TRADED SECURITIES   2019-04-15 2020-11-30
PUBLICLY TRADED SECURITIES   2019-04-16 2020-12-31
PUBLICLY TRADED SECURITIES   2018-12-17 2020-12-31
CAPITAL GAINS DIVIDENDS P    
(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 10,638   9,122 1,516
b 48,000   48,000 0
c 284,000   284,000 0
d 25,103   29,812 -4,709
e 66,594   83,828 -17,234
69,082   78,656 -9,574
27,680   28,365 -685
104,136   112,172 -8,036
150,079   130,654 19,425
252,231   171,164 81,067
27,000   27,000 0
165,798   160,669 5,129
5   4 1
692,659   636,848 55,811
39,317   40,883 -1,566
128,087   89,878 38,209
18,265     18,265
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       1,516
b       0
c       0
d       -4,709
e       -17,234
      -9,574
      -685
      -8,036
      19,425
      81,067
      0
      5,129
      1
      55,811
      -1,566
      38,209
      18,265
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 2 177,619
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 4,013
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 4,013
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 4,013
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 1,760
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 1,760
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 2,253
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIN, VA
    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. Click to see attachment...............................
    10
    Yes
     
    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 ofbulletMARCIA THURSTON ROBERTS Telephone no.bullet (317) 257-9813

    Located atbullet5307 WOODFIELD S DRIVECARMELIN ZIP+4bullet46032
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    TIM THURSTON DIRECTOR
    1.00     		0 0 0
    902 N SHORE BLVD
    FRANKLIN,IN46131
    MARCIA THURSTON ROBERTS PRESIDENT
    10.00     		13,333 12,289 0
    5307 WOODFIELD S DRIVE
    CARMEL,IN46033
    JIM THURSTON DIRECTOR
    1.00     		0 0 0
    755 RACETIME ROAD
    WESTFIELD,IN46074
    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
    3,548,961
    b
    Average of monthly cash balances.......................
    1b
    1,397,019
    c
    Fair market value of all other assets (see instructions)................
    1c
    2,787,115
    d
    Total (add lines 1a, b, and c).........................
    1d
    7,733,095
    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
    7,733,095
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    115,996
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    7,617,099
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    380,855
    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
    380,855
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    4,013
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
    2,547
    c
    Add lines 2a and 2b............................
    2c
    6,560
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    374,295
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    374,295
    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
    374,295
    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
    194,436
    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
    194,436
    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
    194,436
    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 7 374,295
    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...... 144,085
    b From 2016...... 1,961
    c From 2017...... 496,420
    d From 2018...... 69,530
    e From 2019......  
    fTotal of lines 3a through e........ 711,996
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 194,436
    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..... 194,436
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 179,859 179,859
    (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 5 532,137
    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) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		532,137
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017.... 462,607
    c Excess from 2018.... 69,530
    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 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
    DAYSPRING CENTER INC
    PO BOX 44105
    INDIANAPOLIS,IN46244     		  PC CONTRIBUTION TO SUPPORT PROGRAMS THAT PROVIDE SERVICES TO INDIANAPOLIS' HOMELESS CHILDREN AND FAMILIES 5,000
    GATEWAY SERVICES
    3500 N MORTON ST
    FRANKLIN,IN46131     		  PC CONTRIBUTION TO SUPPORT SERVICES TO PEOPLE WITH DISABILITIES IN JOHNSON COUNTY AREA 1,000
    GENNESARET FREE CLINIC
    615 N ALABAMA STREET SUITE 136
    INDIANAPOLIS,IN46204     		  PC CONTRIBUTION TO SUPPORT THE MEDICATION REFILL PROGRAM- HOME DELIVERY IN A SAFE NO-CONTACT MANNER 5,000
    GLEANERS
    3737 WALDEMERE AVENUE
    INDIANAPOLIS,IN46241     		  PC CONTRIBUTION TO SUPPORT FUNDING OF PROGRAMS FOR HUNGER RELEIF IN INDIANA 7,000
    HENDRICKS COUNTY SENIOR SERVICES
    1201 SYCAMORE LANE PO BOX 448
    DANVILLE,IN46122     		  PC CONTRIBUTION TO SUPPORT FUNDING FOR TRANSPORTATION, MEALS, FOOD PANTRY AND IN-HOME SUPPORTIVE SERVICES FOR SENIORS IN HENDRICKS COUNTY 1,500
    INDIANAPOLIS PUBLIC SCHOOLS FOUNDATION
    120 E WALNUT STREET
    INDIANAPOLIS,IN46204     		  PC CONTRIBUTIO TO THE IPS EDUCATION EQUITY FUND 11,000
    INDIANAPOLIS SYMPHONY ORCHESTRA
    32 EWASHINGTON STREET STE 600
    INDIANAPOLIS,IN46204     		  PC CONTRIBUTION IN SUPPORT OF THE METROPOLITAN YOUTH ORCHESTRA YOUTH AND FAMILY DEVELOPMENT PROGRAM 1,000
    INTERCHURCH FOOD PANTRY
    P O BOX 147
    WHITELAND,IN46184     		  PC CONTRIBUTION TO SUPPORT HUNGER RELEIF IN JOHNSON COUNTY 1,000
    JOHNSON COUNTY SENIOR SERVICES
    36 W 600 N
    WHITELAND,IN46184     		  PC CONTRIBUTION TO THEIR MISSION TO PROVIDE TRANSPORTATION, FREE DURABLE MEDICAL EQUIPMENT AND ESSENTIAL BASIC NEEDS TO SENIORS AND THOSE UNDER 60 WITH DISABILITIES 1,000
    JULIAN CENTER
    2011 NORTH MERIDIAN STREET
    INDIANAPOLIS,IN46202     		  PC CONTRIBUTION IN SUPPORT OF SURVIVORS OF DOMESTIC AND SEXUAL ASSAULT 2,500
    KIC-IT KIDS IN CRISIS INTERVENTION TEAM
    P O BOX 806
    FRANKLIN,IN46131     		  PC CONTRIBUTION IN SUPPORT OF A NETWORK OF SUPPORT AND IMPOWERMENT FOR YOUTH AGES 16-25 TO BREAK THE CYCLE OF HOMELESSNESS AND PROMOTE INDEPENDENCE 3,000
    KIJANA EDUCATIONAL EMPOWERMENT INITIATIVE
    516 GULF RD
    NORTH PALM BEACH,FL33408     		  PC CONTRIBUTION TO THE MULTI-YEAR CAPITAL CAMPAIGN TO SUPPORT UNDERSERVED KENYAN SCHOOL COMMUNITIES 5,000
    MLK CENTER
    40 W 40TH STREET
    INDIANAPOLIS,IN46208     		  PC CONTRIBUTION IN SUPPORT OF THEIR MISSION TO EDUCATE CHILDREN, EMPOWER FAMILIES AND BUILD COMMUNITY IN THEIR NEIGHBORHOODS 5,000
    OPEN DOORS OF WASHINGTON TOWNSHIP
    PO BOX 196
    WESTFIELD,IN46074     		  PC CONTRIBUTION TO SUPPORT THE FOOD AND CLOTHING PANTRY FOR HUNGER RELIEF IN WESTFIELD WASHINGTON TOWNSHIP 2,000
    OUTREACH
    2416 EAST NEW YORK STREET PO BOX
    11416
    INDIANAPOLIS,IN46201     		  PC CONTRIBUTION TO SUPPORT PROGRAMS AND SERVICES FOR THE HOMELESS YOUTH IN INDIANAPOLIS 10,750
    SECOND HELPINGS
    1121 SOUTHEASTERN AVENUE
    INDIANAPOLIS,IN46202     		  PC CONTRIBUTION TO SUPPORT EFFORTS FOR HUNGER RELIEF AND TRAINING FOR THE UNEMPLOYED FOR MEANINGFUL CAREERS IN THE CULINARY INDUSTRY 5,000
    SEED OF CARING
    325 PIEDMONT RD
    COLUMBUS,OH43214     		  PC CONTRIBUTION TO SUPPORT PROGRAMS TO ENGAGE YOUTH IN MEANINGFUL SERVICE, SOCAIL-ACTION AND COMMUNITY BUILDING EVENTS 1,500
    SERVANTS AT WORK
    8427 ZIONSVILLE ROAD
    INDIANAPOLIS,IN46268     		  PC CONTRIBUTION IN SUPPORT OF THEIR MISSION TO BUILD WHEELCHAIR RAMPS TO PERSONS WITH DISABILITIES AND WITH AGE RELATED CONDITIONS 42,000
    SHEPHERD COMMUNITY CENTER
    4107 E WASHINGTON STREET
    INDIANAPOLIS,IN46201     		  PC CONTRIBUTION IN SUPPORT OF PROGRAMS THAT BENEFIT THE DISADVANTAGED COMMUNITY - PROVIDING MEALS, COMPUTERS AND INTERNET ACCESS AND MEDICAL SUPPLIES SUCH AS FACEMASKS AND HAND SANITIZER 6,000
    THE OAKS ACADEMY INC
    1301 E 16TH ST
    INDIANAPOLIS,IN46202     		  PC CONTRIBUTION IN SUPPORT OF THEIR MISSION TO EDUCATE THEIR STUDENTS AND SUPPORT FAMILIES 29,000
    TURNING POINT
    PO BOX 103
    COLUMBUS,IN47202     		  PC CONTRIBUTION IN SUPPORT FOR THE PREVENTION AND ELIMINATION OF DOEMSTIC AND DATING VIOLENCE 1,000
    UMOJA PARTNERSHIP
    PO BOX 450574
    INDIANAPOLIS,IN46240     		  PC CONTRIBUTION IN SUPPORT FOR PROGRAMS PRVIDING SCHOOL LUNCH PROGRAM AND SUPPORTING FAMILIES IN CRISIS IN KENYA 2,000
    WHEELER MISSION
    205 E NEW YORK ST
    INDIANAPOLIS,IN46204     		  PC CONTRIBUTIO TO SUPPORT PROGRAMS FOR HOMELESS SHELTERS AND HELPING THE NEEDY BY PROVIDING FOOD, SHELTER AND RECOVERY PROGRAMS 1,000
    WESTFIELD EDUCATION FOUNDATION
    1143 E 181ST STREET
    WESTFIELD,IN46074     		  PC CONTRIBUTION TO SUPPORT THE STUDENTS AND STAFF OF WESTFIELD WASHINGTON SCHOOLS 1,000
    WESTFIELD YOUTH ASSISTANCE PROGRAM
    2728 EAST 171ST STREET
    WESTFIELD,IN46074     		  PC CONTRIBUTIO TO SUPPORT SPORTS AND YOUTH ACTIVITIES, SCHOOL CLOTHES AND SUPPLIES, COUNSELING, RECREATIONAL, ATHLETIC AND THREAPEUTIC CAMPS 2,000
    WESTMINSTER NEIGHBORHOOD SERVICESINC
    2325 E NEW YORK STREET PO BOX 11465
    INDIANAPOLIS,IN46201     		  PC CONTRIBUTION TO PROGRAMS PROVIDNG MEALS, FOOD PANTRY AND SUPPORT OF AT-RISK CHILDREN AND DISADVANTAGED FAMILIES 5,000
    Total .................................bullet 3a 157,250
    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....     14 131,088  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....     14 814  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 177,619  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aPASSTHROUGH ENTITIES     		  13,127      
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 13,127 309,521 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    322,648
    (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
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2020
    Name of the organization
    THURSTON FOUNDATION INC
     
    Employer identification number

    35-1754670
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    THURSTON FOUNDATION INC
          		Employer identification number
    35-1754670
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    ESTATE OF ELEANOR L THURSTON
    755 RACETIME ROAD
     
    WESTFIELD, IN46074

    		$ 13,282,757


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    Name of organization
    THURSTON FOUNDATION INC
          		Employer identification number

    35-1754670
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 VIRGINIA GATEWAY CMNTY DEV AUTH SPL ASSMT RFDG REV B/E 4.000% DUE 03/01/21 - QTY 25,000.000 $ 25,019 2020-11-23
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 INTERNATIONAL SELECT INVESTMENTS LLC CUSIP 03891074 QTY 1,406,626.050 $ 1,281,782 2020-12-01
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 MILHAUS - GLENDALE $ 250,000 2020-01-01
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 THOMPSON THRIFT - WATERMARK 3G MULTIFAMILY DEVELOPMENT FUND II $ 230,587 2020-01-01
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    THURSTON FOUNDATION INC
          		Employer identification number

    35-1754670
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2020 AccountingFeesSchedule
    Name:
    THURSTON FOUNDATION INC
    EIN:
    35-1754670
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEES 21,998 0   21,998

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    THURSTON FOUNDATION INC
    EIN:
    35-1754670
    Name of Bond End of Year Book Value End of Year Fair Market Value
    CAPITAL ONE NA 2.2% DUE 6/14/21 12,017 12,119
    BMW BANK NORTH AMERICA 3.000% DUE 06/15/21 20,979 21,287
    WELLS FARGO BANK 1.65% DUE 9/14/21 16,637 17,193
    UBS BANK USA 3.15% DUE 10/28/21 20,005 20,515
    CITIBANK NA 3.250% DUE 11/23/21 20,002 20,574
    GE MONEY BANK 3.000% DUE 07/22/21 40,083 40,619
    HERITAGE BANK 3.000% DUE 10/18/21 40,128 40,942
    DISCOVER BANK 3.000% DUE 08/23/21 20,065 20,385
    DISCOVER BANK 3.000% DUE 09/07/21 40,104 40,808
    DISCOVER BANK 3.400% DUE 11/29/22 36,409 38,272
    ALLY BANK 2.250% DUE 6/27/22 40,242 41,297
    DISCOVER BANK 2.500% DUE 1/18/22 24,414 25,641
    DISCOVER BANK 2.250% DUE 2/08/22 19,349 20,485
    CAPITAL ONE BANK USA 2.350% DUE 10/12/22 16,502 17,684
    AMERICAN EXPRESS CO UNSED NOTE 3.70% DUE 11/05/21 102,672 102,555
    AMERICAN EXPRESS NATL BK 3.300% DUE 07/03/23 25,213 26,974
    AMERICAN EXPR CO 3.625% DUE 12/05/24 39,099 44,386
    CITIBANK NA 3.200% DUE 01/16/24 44,066 48,016
    QUALCOMM INC 3.450% DUE 05/20/25 38,524 44,538
    STRYKER CORP 3.500% DUE 03/15/26 38,625 45,213
    BANK AMERICA CORP 4.250% DUE 10/22/26 44,148 52,784
    GE CAP CORP INTERNOTES 5.05% DUE 4/15/27 5,579 5,589
    BANK OF BARODA .200% DUE 07/22/21 70,001 70,064
    CAPITAL ONE NA 1.800% DUE 11/09/21 9,944 10,120
    CIT BANK 2.650% DUE 07/06/22 25,324 25,974
    CIT BANK 2.700% DUE 07/12/21 24,129 24,341
    CIT BANK 2.650% DUE 01/29/21 25,021 25,052
    CIT BANK 2.650% DUE 04/05/21 18,048 18,124
    DISCOVER BANK 2.550% DUE 10/18/21 30,194 30,601
    DISCOVER BANK 2.400% DUE 03/18/22 27,205 27,764
    FARMERS STATE BANK 2.300% DUE 10/29/21 26,204 26,572
    FIRST MERCHANTS BANK NA 2.550% DUE 02/01/21 25,022 25,057
    FIRST NATL BANK OF AMER 2.300% DUE 11/25/22 18,168 18,754
    FIRST PREMIER BANK 3.000% DUE 05/23/22 20,336 20,817
    GE MONEY BANK 3.300% DUE 06/17/21 10,065 10,143
    GENL ELECTRIC CAP CORP INTERNOTES 5.250% DUE 11/15/21 30,628 31,079
    GOLDMAN SACHS BANK USA 3.000% DUE 09/02/21 15,129 15,297
    GOLDMAN SACHS BANK USA 3.000% DUE 01/05/22 10,125 10,298
    GOLDMAN SACHS BANK USA 2.900% DUE 04/18/22 5,072 5,184
    HOMETRUST BANK 4.000% DUE 08/26/21 20,298 20,521
    MORGAN STANLEY BANK 3.550% DUE 11/08/23 51,539 54,700
    SALLIE MAE BANK 2.650% DUE 08/27/21 20,123 20,345
    SALLIE MAE BANK 2.600% DUE 12/10/21 20,158 20,482
    STATE BANK OF INDIA 3.150% DUE 02/28/24 25,972 27,322
    WELLS FARGO & CO 2.100% DUE 07/26/21 20,014 20,202
    WELLS FARGO BANK NA 2.900% DUE 01/31/22 33,405 34,017
    DR PEPPER SNAPPLE GRP INC 3.200% DUE 11/15/21 71,266 71,219
    GILEAD SCIENCES INC SR NOTE 4.400% DUE 12/01/21 102,796 102,740
    CAPITAL ONE BANK 2.400% DUE 3/29/22 51,342 51,451
    CATERPILLAR FINL SVCS 2.850% DUE 6/01/22 77,692 77,795
    SHERWIN WILLIAMS 2.750% DUE 6/1/22 103,280 103,185
    CIT BANK 1.95% DUE 8/23/22 51,399 51,537
    GE CAPITGAL RETAIL BANK 2.550% DUE 8/24/22 51,870 51,916
    ABBVIE INC 3.250%DUE 10/01/22 104,339 104,155
    ANTHEM INC 2.950% DUE 12/01/22 104,839 104,761
    WELLS FARGO BANK NA 3.200% 1/09/23 63,506 63,757
    GOLDMAN SACHS GROUP INC 3.625% DUE 1/22/23 85,185 85,370
    SALLIE MAE BANK 2.650% DUE 2/8/23 52,320 52,673
    BMW BANK OF NORTH AMER 1/650% DUE 2/28/23 231,543 232,466
    PINNACLE BANK .700% DUE 05/08/23 25,163 25,334
    WELLS FARGO BANK 3.150% DUE 5/9/23 52,987 53,553
    GOLDMAN SACHS BANK 3.100% DUE 5/22/23 53,211 53,245
    CITIBANK 3.300% DUE 7/24/23 26,818 27,017
    DISCOVER BANK 3.250% DUE 8/22/23 26,847 27,042
    GOLDMAN SACHS BANK 3.350% DUE 8/29/23 53,807 54,250
    STARBUCKS CORP 3.850% DUE 10/01/23 108,648 108,608
    SYNCHRONY BANK 2.450% DUE 10/27/23 132,151 133,021
    GOLDMAN SACHS BANK 3.500% DUE 10/31/23 42,850 43,775
    GE CAPITAL BANK 3.300% DUE 11/01/23 16,189 16,215
    GE CAPITAL BANK 3.300% DUE 12/06/23 54,104 54,565
    GE CAPITAL RETAIL BANK 3.300% DUE 12/06/23 21,614 21,672
    CIT BANK 3.250% DUE 2/12/24 54,188 54,740
    WELLS FARGO BANK 2.950% DUE 3/27/24 43,125 43,456
    WELLS FARGO BANK 2.800% DUE 4/1/24 53,295 54,104
    CAPITAL ONE BANK 2.650% DUE 05/30/24 53,533 54,121
    CAPITAL ONE 2.200% DUE 07/24/24 41,062 41,700
    GOLDMAN SACHS BANK 3.250% DUE 9/17/24 21,963 22,203
    GOLDMAN SACHS GROUP INC 3.500% DUE 4/01/25 21,264 22,220
    GOLDMAN SACHS BANK 3.00% DUE 4/10/26 21,181 21,480
    WELLS FARGO & CO 3.000% DUE 4/22/26 31,468 33,018
    JPMORGAN CHASE & CO 2.950% DUE 10/01/26 26,168 27,736

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    THURSTON FOUNDATION INC
    EIN:
    35-1754670
    Name of Stock End of Year Book Value End of Year Fair Market Value
    BOSTON PROP 5.25% PERPETUAL PFD 11,315 11,989
    BROOKFIELD PPTY REIT PFD SERIES A 16,648 17,839
    PEBBLEBROOK HTL 6.5% PERPETUAL PFD 10,935 11,510
    TAUBMAN CTRS 6.25% PERPETUAL PFD 14,593 15,125
    ADOBE 19,365 27,007
    ALIBABA GOUP HOLDING 14,698 16,291
    ALPHABET INC 33,796 40,311
    AMAZON.COM INC 20,142 29,312
    APPLE INC 40,979 64,089
    CHURCHILL DOWNS INC 19,289 25,128
    COMCAST CORP CL A 20,585 23,213
    COSTAR GROUP 19,101 24,956
    WALT DISNEY CO 22,460 27,902
    DRAFTKINGS INC 17,279 23,234
    ELECTRONIC ARTS INC 15,826 21,396
    FACEBOOK INC CL A 25,274 30,867
    INTERCONTINENTAL EXCHANGE INC 19,077 22,827
    INTUITIVE SURGICAL INC 10,704 13,908
    LVMH MOET HENNESSY LOUIS VUITTON ADR 20,210 25,570
    ELI LILLY & CO 9,991 13,338
    MADISON SQUARE GARDEN SPORTS CORP 6,905 6,628
    MADISON SQUARE GARDEN ENTERTAINMENT CORP 2,754 3,781
    MARTIN MARIETTA MATERIALS INC 15,195 18,174
    MASTERCARD INC 21,584 25,700
    MATCH GROUP INC 8,836 19,504
    MERCK & COMPANY INC 16,191 16,033
    MICROSOFT CORP 40,634 52,491
    NORTHROP GRUMMAN CORP 14,975 13,408
    NOVO NORDISK AS 11,598 12,363
    PAYPAL HOLDINGS INC 16,035 27,636
    PFIZER INC 13,872 14,319
    QORVO INC 12,183 15,131
    QUIDEL CORP 8,273 10,779
    SHENZHOU INTL GROUP HOLDINGS LTD 9,262 13,589
    SKYWORKS SOLUTIONS INC 11,547 12,536
    TENCENT HOLDINGS LTD 10,384 13,947
    TEXAS INSTRUMENTS INC 13,419 16,741
    TWITTER INC 10,163 15,270
    UNION PACIFIC CORP 16,835 18,948
    UNITEDHEALTH GROUP INC 24,577 29,106
    VIATRIS INC 701 806
    WALMART INC 10,691 11,820
    WASTEMANAGEMENT INC 12,830 13,208
    ZEBRA TECHNOLOGIES CORP 17,593 26,519
    PERNOD RICARD 17,102 17,780
    FERRARI NV 16,600 20,886
    ADIDAS AG 28,324 34,768
    ADOBE INC 34,516 44,011
    AIRBNB INC 7,706 8,221
    ALIBABA GROUP HOLDING LTD 34,896 34,677
    ALPHABET INC CL A 57,430 66,600
    AMAZON.COM INC 68,098 74,909
    ANTA SPORTS PRODUCTS 4,890 12,125
    APPLE INC 78,933 112,521
    COMCAST CORP CL A NEW 20,144 22,637
    WALT DISNEY CO 33,285 43,483
    EXACT SCIENCES CORP 11,256 14,574
    FACEBOOK INC CL A 41,141 48,896
    FIFTH THIRD BANCORP 31,498 31,347
    HILTON WORLDWIDE 23,593 24,588
    INTERCONTINENTAL EXCHANGE INC 22,436 28,015
    INTUITIVE SURGICAL INC 16,602 21,271
    KERING SA 31,586 32,603
    MCDONALDS CORP 23,808 24,462
    MERCADOLIBRE INC 30,289 31,829
    MERCK & COMPANY INC 18,941 19,714
    MICROSOFT CORP 66,705 84,077
    MONGODB INC 14,966 25,492
    MORGAN STANLEY 31,526 33,648
    NORTHROP GRUMMAN CORP 27,000 28,034
    NOVO NORDISK AS 23,369 24,517
    NVIDIA CORP 23,920 24,021
    PALO ALTO NETWORKS INC 20,493 28,787
    PAYPAL HOLDINGS INC 28,664 42,624
    QORVO INC 28,585 33,254
    REGENERON PHARMACEUTICALS INC 21,327 19,324
    ROCHE HOLDING LIMITED 22,323 23,104
    ROKU INC 17,565 29,218
    SEA LTD 47,261 57,127
    STARBUCKS CORP 26,131 31,987
    SHERWIN WILLIAMS CO 20,865 24,987
    TJX COS INC NEW 19,157 23,492
    TENCENT HOLDINGS LTD 42,071 46,657
    TEXAS INSTRUMENTS INC 26,629 32,334
    THERMO FISHER SCIENTIFIC INC 17,553 20,029
    UBER TECHNOLOGIES INC 28,101 34,680
    UNITEDHEALTH GROUP INC 30,425 35,068
    VEEVA SYSTEMS INC 14,379 18,241
    VISA INC 28,110 33,245
    WALMART INC 18,446 19,893
    ZEBRA TECHNOLOGIES CORP 20,145 27,287
    ADYEN N V 29,166 43,225
    NXP SEMICONDUCTORS NV 19,777 19,876
    ADIDAS AG SPONS ADR 27,547 33,853
    ANTA SPORTS PRODUCTS 5,868 13,690
    APPLE INC 84,398 124,065
    BROADCOM INC 29,021 38,531
    CDW CORP 16,435 18,187
    CME GROUP 23,640 25,487
    CITIZENS FINANCIAL 15,155 17,058
    COMCAST CORP 31,622 37,309
    WALT DISNEY CO 40,443 54,898
    FASTENAL CO 27,897 28,614
    HOME DEPOT INC 39,369 45,421
    HONEYWELL INTL INC 17,419 21,270
    INTERCONTINENTAL EXCHANGE INC 24,682 31,128
    INTUIT INC 13,419 16,713
    JPMORGAN CHASE & CO 20,140 23,381
    LVMH MOET HENNESSY LOUIS 21,758 27,441
    ESTEE LAUDER CO INC 32,548 42,324
    LOCKHEED MARTIN CORP 26,766 28,043
    MASTERCARD INC 30,896 38,906
    MERCK & COMPANY INC 44,313 45,563
    MICROSOFT CORP 75,349 96,530
    NEWMONT CORP 35,323 38,270
    SKYWORKS SOLUTIONS INC 21,350 23,238
    STARBUCKS CORP 27,800 34,769
    TEXAS INSTRUMENTS INC 35,982 44,315
    UNION PACIFIC CORP 33,659 38,312
    UNITEDHEALTH GROUP INC 46,406 53,654
    WALMART INC 38,372 42,380
    WASTE MANAGEMENT INC 28,796 30,190
    ACCENTURE PLC IRELAND 40,016 50,414
    ANSYS INC 14,432 15,280
    ASPEN TECHNOLOGY INC 16,227 15,760
    BERKLEY W R CORP 20,199 20,059
    BRIGHT HORIZONS FAMILY SOLUTIONS INC 13,765 14,358
    CDW CORP 19,863 19,769
    CHARLES RIVER LAB INTL 24,526 25,736
    CHEMED CORP NEW 15,363 17,044
    COOPER COS INC NEW 21,867 23,616
    COPART INC 19,985 22,014
    DOCUSIGN INC 30,006 27,121
    ELANCO ANIMAL HEALTH INC 15,118 15,826
    EQUIFAX INC 16,978 19,284
    EXPONENT INC 10,759 11,614
    FLIR SYSTEMS INC 12,077 12,886
    FAIR ISAAC CORP 12,970 13,287
    JACK HENRY & ASSOCIATES 12,891 13,121
    INTERACTIVE BROKERS GROUP INC 10,419 11,331
    LENNOX INTL INC 17,841 17,534
    MSCI INC CLASS A 30,425 31,704
    NORDSON CORP 21,505 21,904
    POOL CORP 22,810 25,703
    ROLLINS INC 13,405 13,987
    SCOTTS MIRACLE-GRO CO 35,836 40,625
    SITEONE LANDSCAPE SUPPLY INC 24,056 28,236
    TERADYNE INC 34,425 35,727
    THOR INDUSTRIES INC 21,074 20,551
    ZEBRA TECHNOLOGIES CORP 28,453 28,825
    ALLEGION PUBLIC LTD 17,754 18,039

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    THURSTON FOUNDATION INC
    EIN:
    35-1754670
    US Government Securities - End of Year Book Value:

    0
    US Government Securities - End of Year Fair Market Value:

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


    25,002
    State & Local Government Securities - End of Year Fair Market Value:


    25,022


    TY 2020 InvestmentsOtherSchedule2
    Name:
    THURSTON FOUNDATION INC
    EIN:
    35-1754670
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SPDR S&P 500 ETF AT COST 6,442 6,730
    SPDR S&P 500 ETF AT COST 17,894 18,694
    SPDR S&P 500 ETF AT COST 16,819 17,572
    BLCKRCK HI YLD BND PORT-K AT COST 28,800 28,986
    ISHARES 20+ YEAR TREASURY BO AT COST 48,391 48,739
    JPM CORE PLUS BD FD - R6 AT COST 105,600 104,167
    JPM MTGE BACKED SEC FD - R6 AT COST 48,000 47,711
    PGIM HIGH YIELD - Q AT COST 38,400 38,470
    VANGUARD TOT BD MKT IDX-ADM AT COST 153,600 153,732
    FED HER OPP HIGH YIELD BE - R6 AT COST 28,800 28,945
    ISHARES JP MORGAN USD EMERGI AT COST 47,896 48,450
    VANGUARD TTL INTL BND - ADM AT COST 259,200 259,311
    SIX CIRCLES GLOBAL BOND AT COST 144,000 144,000
    SIX CIRCLES CREDIT OPPORT AT COST 48,000 48,187
    FIDELITY 500 INDEX-INST PRM AT COST 179,520 181,232
    FINANCIAL SELECT SECTOR SPDR AT COST 19,259 19,752
    INDUSTRIAL SELECT SPDR AT COST 4,797 4,782
    INVESCO S&P EQUAL WEIGHT AT COST 9,681 9,693
    SIX CIRCLE MGD EQ US UNCON AT COST 100,800 101,094
    FIDELITY INTL INDEX-INST PRM AT COST 31,680 31,785
    ISHARES MSCI CANADA ETF AT COST 4,826 4,749
    JPMORGAN BETABUILDERS CANADA AT COST 9,634 9,418
    SIX CIRCLE MGD EQ INTL UNCON AT COST 67,200 67,629
    JPMORGAN BETABUILDERS JAPAN ETF AT COST 24,130 24,164
    JPM BTABLDRS DEV ASIA X-JPN AT COST 9,681 9,606
    ISHARES CORE MSCI EMERGING AT COST 14,539 14,703
    VANGUARD 500 INDEX ADMIRAL AT COST 613,944 758,839
    FPA CRESCENT AT COST 787,165 870,374
    INTERNATIONAL SELECT INVESTMENTS LLC AT COST 2,031,782 2,156,626
    KCP ACCESS FUND LP AT COST 79,573 79,573
    MILHAUS - GLENDALE AT COST 249,993 249,993
    BLAIRWOOD APARTMENTS OF LOUISVILLE #113 AT COST 62,071 62,071
    BRIARWOOD APARTMENTS OF LEXINGTON #105 AT COST 58,664 58,664
    FAIRINGTON APARTMENTS OF SOUTH BEND #109 AT COST 92,859 92,859
    THE WOODS OF FAIRFAX II #145 AT COST 80,351 80,351
    THE WOODS OF FAIRFAX I #086 AT COST 366,976 366,976
    WILLIAMSBURG OF CASTLETON #079 AT COST 67,048 67,048
    WATERMARK 3G MULTIFAMILY DEVELOPMENT FUND II AT COST 230,434 230,434

    TY 2020 OtherDecreasesSchedule
    Name:
    THURSTON FOUNDATION INC
    EIN:
    35-1754670
    Description Amount
    CORPORATE BOND BASIS ADJUSTMENT 23,359
    PUBLICLY TRADED SECURITIES 3,709
    PARTNERSHIP INTERESTS 2,837


    TY 2020 OtherIncomeSchedule2
    Name:
    THURSTON FOUNDATION INC
    EIN:
    35-1754670
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INCOME - INTERNATIONAL SELECT INVESTMENTS LLC 136 136 136
    OTHER INCOME - DEFERRED INCOME PREFERRED STOCK 499 499 499
    OTHER INCOME 179 179 179
    PASSTHROUGH ENTITIES 13,127   13,127


    TY 2020 OtherIncreasesSchedule
    Name:
    THURSTON FOUNDATION INC
    EIN:
    35-1754670
    Description Amount
    INTERNATIONAL SELECT INVESTMENTS BASIS ADJUSTMENT 10


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    THURSTON FOUNDATION INC
    EIN:
    35-1754670
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MISC FEES/DUES 623 0   623
    INVESTMENT MANAGER FEES 20,415 20,415   0
    WEB EXPENSES 124 0   124
    SUBSCRIPTIONS 88 0   88


    TY 2020 SubstantialContributorsSch
    Name:
    THURSTON FOUNDATION INC
    EIN:
    35-1754670
    Name Address
    ESTATE OF ELEANOR L THURSTON 755 RACETIME ROAD
    WESTFIELD,IN46074


    TY 2020 TaxesSchedule
    Name:
    THURSTON FOUNDATION INC
    EIN:
    35-1754670
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAX 393 393   0
    PRIOR YEAR EXCISE TAX - 1,744 0   0
    PAYROLL TAXES 1,020 0   1,020