TY 2020 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0052

2020

Open to Public Inspection

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

Name of foundation
Ortega Foundation

% Foundation Source

Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377

A Employer identification number

65-0014714

B Telephone number (see instructions)

(800) 839-1754

C If exemption application is pending, check here bullet

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

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

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

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

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

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

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

$43,551,892J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)	0
2	Check .............
3	Interest on savings and temporary cash investments	1,402		1,402
4	Dividends and interest from securities...	781,205		781,205
5a	Gross rents............	202,475		202,475
b	Net rental income or (loss) 184,601
6a	Net gain or (loss) from sale of assets not on line 10		1,645,526
b	Gross sales price for all assets on line 6a 18,349,115
7	Capital gain net income (from Part IV, line 2)...			1,645,526
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).......		36,354	23,034
12	Total. Add lines 1 through 11........	2,666,962		2,653,642
13	Compensation of officers, directors, trustees, etc.	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		166,111	166,111
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		46,381	38,381
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		33,714	8,714	25,000
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	246,206		213,206	25,000
25	Contributions, gifts, grants paid.......	1,964,000			1,964,000
26	Total expenses and disbursements. Add lines 24 and 25	2,210,206		213,206	1,989,000
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	456,756
b	Net investment income (if negative, enter -0-)			2,440,436
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	4,090,195	4,205,266	4,205,266
	3	Accounts receivable 1,708
		Less: allowance for doubtful accounts	1,998	1,708	1,708
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule) 410,000
		Less: allowance for doubtful accounts	435,000	410,000	410,000
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	6,770,098	6,364,106	6,887,145
	b	Investments—corporate stock (attach schedule).......	17,533,768	18,568,818	24,098,339
	c	Investments—corporate bonds (attach schedule).......	4,274,052	4,011,969	4,226,002
	11	Investments—land, buildings, and equipment: basis 4,056,864
		Less: accumulated depreciation (attach schedule)	4,056,864	4,056,864	3,723,432
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	37,161,975	37,618,731	43,551,892
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	37,161,975	37,618,731
	29	Total net assets or fund balances (see instructions).....	37,161,975	37,618,731
	30	Total liabilities and net assets/fund balances (see instructions).	37,161,975	37,618,731

Part III

Analysis of Changes in Net Assets or Fund Balances

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

37,161,975

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

456,756

Other increases not included in line 2 (itemize) bullet

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

37,618,731

Decreases not included in line 2 (itemize) bullet

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

37,618,731

Form 990-PF (2020)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	Publicly-traded Securities
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	18,349,115	16,703,589	1,645,526
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			1,645,526
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	1,645,526
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

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

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

1 Reserved

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

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

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

Form 990-PF (2020)

Page 4

Part VI

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

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	33,922
c	All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2...........................	3	33,922
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	33,922
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	27,200
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	6,720
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	33,920
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	3
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	5
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax	Refunded	11

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

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

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

Yes

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

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

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

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

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

Form 990-PF (2020)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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

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

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

advisory privileges? If "Yes," attach statement. See instructions Click to see attachment

.................

Yes

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

Yes

Website address bullet

The books are in care of bullet

Foundation Source Telephone no. bullet

(800) 839-1754

Located at bullet

501 Silverside Road Suite 123WilmingtonDE ZIP+4 bullet

198091377

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

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

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

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

16 No

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

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

If "Yes," list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2020)

Page 6

Part VII-B

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

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Part VIII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
Maria Elena Wollberg	Trustee 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee 1.0	0	0	0

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


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances










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

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
Arazoza Group Merrill Lynch	Investment Mgmt	166,111
355 Alhambra Circle penthouse CORAL GABLES,FL331344527	Investment Mgmt	166,111

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

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2020)

Page 8

Part X

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

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

purposes:

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

32,562,884

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

3,776,267

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

4,133,432

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

40,472,583

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

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

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

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

40,472,583

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

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

607,089

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

39,865,494

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

1,993,275

Part XI

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

and do not complete this part.)

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

1,993,275

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

33,922

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

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

33,922

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

1,959,353

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

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

1,959,353

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

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

1,959,353

Part XII

Qualifying Distributions (see instructions)

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

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

1,989,000

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

1,989,000

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

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

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

1,989,000

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

Form 990-PF (2020)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(c) 2019	(d) 2020
1 Distributable amount for 2020 from Part XI, line 7				1,959,353
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......			1,940,334
b Total for prior years:2018, 2017, 2016
3 Excess distributions carryover, if any, to 2020:
a From 2015......
b From 2016......
c From 2017......
d From 2018......
e From 2019......
fTotal of lines 3a through e........
4Qualifying distributions for 2020 from Part
XII, line 4: $ 1,989,000
a Applied to 2019, but not more than line 2a			1,940,334
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2020 distributable amount.....				48,666
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2020.
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2020. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2021 ..........				1,910,687
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8 Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) ...
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2016....
b Excess from 2017....
c Excess from 2018....
d Excess from 2019....
e Excess from 2020....	0

Form 990-PF (2020)

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 section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2020	(b) 2019	(c) 2018	(d) 2017	(e) Total

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).)

NONE

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

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

Check here bullet

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

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

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

cAny submission deadlines:

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

Form 990-PF (2020)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
JOSE MARTI FOUNDATION INC 1118 S GREENWAY DR CORAL GABLES,FL33134	N/A	PC	General & Unrestricted	50,000
J Gonzalez florida international university fo 11200 Sw 8th st marc 531 Miami,FL33199	none	I	Scholarship Grant	3,500
J Gonzalez florida international university fo 11200 sw 8th st marc 531 Miami,FL33199	none	I	scholarship grant	3,500
THE MIAMI FOUNDATION INC 40 NW 3RD ST STE 305 MIAMI,FL33128	N/A	PC	General & Unrestricted	1,900,000
K Mora university of georgia 220 holmes/hunter academic building ATHENS,GA30602	none	I	Scholarship grant	7,000
Total ................................. 3a				1,964,000

bApproved for future payment

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

Form 990-PF (2020)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........			14	1,402
4 Dividends and interest from securities....			14	781,205
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....			16	184,601
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	1,645,526
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aFederal Tax Refund			01	13,320
bINTEREST INCOME FROM NOTE RECEIVABLE			14	23,034
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				2,649,088

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

2,649,088

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2020)

Page 13

Part XVII

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

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

TY 2020 DepreciationSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income	Cost of Goods Sold Not Included
LAND - 1660 & 1690	2016-07-06	3,426,864		L
LAND - 6222 CLARCO	2009-09-19	630,000		L

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC - 3.600% - 05/14/20	64,455	64,655
AMAZON COM - 2.800% - 08/22/20	76,113	85,493
ANHEUSER BUSCH COS INC - 4.900	116,514	133,641
APPLE INC - 1.650% - 05/11/203	55,237	55,616
APPLE INC - 2.850% - 05/11/202	238,649	254,467
APPLE INC NOTE - 2.400% - 05/0	53,197	57,664
BANK OF MONTREAL MTN - 3.300%	218,445	234,276
BANK OF NEW YORK MELLON CORP -	150,615	154,731
BAT CAPITAL CORP MTN CALL MAKE	282,873	292,730
BP CAP MKTS AMER - 3.410% - 02	50,060	56,058
CAPITAL ONE FINL CORP NOTE - 3	38,027	44,944
CIGNA CORP - 2.400% - 03/15/20	64,469	66,106
CITIGROUP INC NOTE - 2.900% -	51,012	52,102
CITIGROUP INC SR NT - 4.500% -	95,199	101,123
COMCAST CORP - 1.500% - 02/15/	58,765	58,601
COMCAST CORP NOTE - 3.950% - 1	272,644	274,854
CVS CAREMARK CORP - 3.700% - 0	20,385	20,327
CVS HEALTH CORP - 1.300% - 08/	58,837	59,274
CVS HEALTH CORP - 3.750% - 04/	242,677	245,555
ENTERPRISE PROD - 3.750% - 02/	51,890	55,983
FISERV INC NOTE CALL MAKE WHOL	55,064	62,765
GOLDMAN SACHS GROUP INC - 5.25	70,148	70,938
GOLDMAN SACHS GROUP INC NOTE -	223,169	213,402
JP MORGAN CHASE - 3.540% - 05/	41,399	46,497
JPMORGAN CHASE &CO - 1.045% -	295,607	298,333
KINDER MORGAN ENERGY PARTNERS	54,316	56,665
MARSH &MCLENNAN COS INC - 4.37	46,452	56,006
MORGAN STANLEY - 4.375% - 01/2	127,165	166,589
MORGAN STANLEY MTN CALL MAKE W	95,253	105,828
NEXTERA ENERGY CAP - 2.250% -	58,026	57,663
NORTHROP GRUMMAN CORP NOTE - 2	50,069	51,931
ORACLE CORP - 2.950% - 04/01/2	84,895	84,735
ROYAL BANK OF CANADA BOND - 3.	126,964	128,217
U S BANCORP - 3.150% - 04/27/2	40,574	48,436
UNION PAC CORP - 3.950% - 09/1	108,052	128,642
VERIZON COMMS - 4.329% - 09/21	55,839	55,236
WALMART INC - 3.400% - 06/26/2	50,246	53,697
WELLS FARGO CO - 3.500% - 03/0	95,392	92,272
WELLS FARGO CO MTN BE - 3.300%	73,276	79,950

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC	39,573	52,932
ALCON INC	92,511	102,599
ALIBABA GROUP HOLDING LTD	83,885	107,289
ALLSTATE CORP	45,878	50,898
ALLY FINANCIAL INC	79,221	104,591
ALPHABET INC CL A	42,502	219,080
ALPHABET INC CL C	70,733	224,241
ALTRIA GROUP INC	183,227	162,442
AMADEUS IT HLDS SA	44,403	52,974
AMAZON COM	162,444	299,638
AMCOR LTD ORD SHS	20,784	23,187
AMER INTERNATIONAL GROUP INC	176,521	160,148
AMEREN CORPORATION	36,103	35,908
AMERICAN EXPRESS CO	62,777	78,350
ANSELL LTD SP ADR	8,691	16,918
ANTHEM INC	222,135	306,962
APPLE INC	147,135	520,276
APPLIED MATERIALS INC	157,520	223,258
ASSURANT INC	37,954	38,550
ASTRAZENECA	89,113	131,374
AXALTA COATING SYSTEMS LTD	82,163	99,040
BAE SYSTEMS PLC	164,022	170,393
BANCO DO BRASIL S A SPONSORED	213,024	186,069
BATS SERIES M PORTFOLIO	1,269,355	1,305,536
BERKSHIRE HATHAWAY INC. CLASS	266,228	325,777
BIOGEN INC	63,634	53,869
BLACKROCK ALLOC TGT SER S PORT	136,594	137,582
BP PLC SPONSORED ADR	233,841	117,251
BRISTOL-MYERS SQUIBB CO	71,632	71,645
BRITISH AMERICAN TOBACCO PLC	60,475	55,448
BURBERRY GROUP PLC	63,086	94,065
CADENCE DESIGN SYSTEMS INC	86,825	156,895
CANADIAN NATL RAILWAY CO	173,614	195,863
CAPITAL ONE FINANCIAL CORP	37,988	41,122
CARRIER GLOBAL	20,746	45,792
CBRE GROUP	54,657	70,121
CDK GLOBAL INC	104,212	105,474
CELLNEX TELECOM ADR	160,127	158,270
CHARLES SCHWAB CORP	108,613	153,445
CHEVRON CORP	132,660	96,189
CIENA CORP	39,269	45,134
CISCO SYSTEMS INC	266,661	317,322
CITIGROUP INC	232,957	275,189
CITIZENS FINANCIAL GROUP, INC	39,664	49,849
CME GROUP, INC	47,477	46,423
COGNIZANT TECHNOLOGY SOLUTIONS	287,184	371,725
COMCAST CORP	246,596	435,967
CONOCOPHILLIPS	172,597	154,001
CONSTELLATION BRANDS INC	72,937	104,487
CORTEVA INC	192,444	276,112
CRH PLC - AMERICAN DEPOSITARY	28,905	35,171
CVS CAREMARK CORP	75,586	86,604
DBS GROUP HLDGS SPON ADR	25,208	34,451
DEUTSCHE POST AG	16,077	28,209
DIAGEO PLC ADS	17,478	20,010
DOLLAR GENERAL CORP	59,595	95,266
DOLLAR TREE INC	147,132	164,005
DU PONT DE NEMOURS	61,821	78,790
EATON CORP PLC	24,879	34,841
EDISON INTL	62,390	65,647
EQUINOR ASA	70,932	72,363
EQUITABLE HOLDINGS INC	46,113	55,505
EXELON CORPORATION	34,901	34,072
FACEBOOK INC	190,837	255,951
FANUC LIMITED UNSPONSORED	167,391	240,974
FEDEX CORPORATION	29,224	52,443
FERGUSON PLC SPON ADR	26,385	26,569
FIDELITY NATIONAL FINANCIAL IN	33,198	40,536
FIRST AMERICAN CORP	17,677	18,638
FLEETCOR TECHNOLGIES INC	99,391	106,677
FORTIVE CORPORATION	84,591	100,777
FOX CORP CL A	194,589	169,857
GALLAGHER ARTHUR J & CO	94,654	144,246
GENERAL ELECTRIC CO	58,590	81,227
GENERAL MOTORS	229,322	295,935
GENUINE PARTS COMPANY	21,114	23,199
GRUPO FIN ADR	80,488	118,815
HASBRO INC	56,030	57,621
HEINEKEN N V S ADR	17,488	20,549
HEXAGON	77,271	138,876
HUMANA INC	123,367	119,799
INFINEON TECH ADS	115,932	200,653
INTERCONTINENTAL EXCHANGE, INC	64,758	69,059
INTERNATIONAL PAPER CO	36,095	40,373
INTESA SANPAOLO SPA	197,100	193,855
JOHNSON & JOHNSON	19,872	23,292
JP MORGAN CHASE	176,032	381,464
KINDER MORGAN INC	58,051	49,075
KONE OYJ	12,372	18,095
KONINKLIJKE DSM NV ADR	122,220	201,625
KONINKLIJKE PHILIPS ELECTRONIC	198,332	284,447
L'OREAL ADR	210,086	228,222
LABORATORY CORP AMER HLDGS	108,152	154,698
LEIDOS HOLDINGS INC	35,613	37,318
LOCKHEED MARTIN CORP	67,509	64,251
LOWES COMPANIES INC	71,881	125,840
M&T BANK CORP	39,458	43,919
MARATHON PETROLEUM CORP	144,794	129,250
MARVEL TECH INC	40,162	82,815
MASTERCARD INC	117,842	149,558
MCKESSON CORP	47,664	61,220
MEDTRONIC PLC	149,224	192,812
METLIFE INC	108,075	113,619
MICROSOFT CORP	238,887	696,618
MONDELEZ INTERNATIONAL INC	143,247	157,518
MORGAN STANLEY	210,582	376,984
MOTOROLA SOLUTIONS INC	46,875	90,982
NESTLE S.A	50,465	53,717
NEWELL RUBBERMAID INC	32,482	38,596
NISOURCE INC	33,175	33,515
NORFOLK SOUTHERN CORP	66,823	124,508
NOVARTIS AG ADR	44,277	53,070
NOVO NORDISK A S	74,785	108,966
NXP SEMICONDUCTORS	85,752	131,819
O'REILLY AUTOMOTIVE INC	67,191	95,492
OTIS WORLDWIDE CORP	194,236	262,770
PAYCHEX	57,409	75,289
PAYPAL HOLDINGS, INC	81,897	186,423
PFIZER INC	41,952	46,491
PHILIP MORRIS INTL	82,948	82,293
PIONEER NAT RES CO	59,113	87,809
PPG INDUSTRIES INC	83,154	91,291
PPL CORPORATION	32,583	34,094
PROCTER GAMBLE CO	32,506	45,360
PROGRESSIVE CORP OHIO	33,906	36,487
PUBLIC SVC ENTERPRISE GROUP IN	91,451	107,738
QUANTA SVCS INC	62,249	133,453
RAYMOND JAMES FINANCIAL INC	126,655	138,243
RAYTHEON TECHNOLOGIES CORP	91,105	104,619
RECKITT BENCKISER GROUP	54,242	58,528
RECRUIT HOLDINGS CO	276,513	355,684
REINSURANCE GROUP AMER INC	55,972	62,238
RELX PLC	56,453	63,919
ROBERT HALF INTL INC	81,817	115,650
ROCHE HOLDING LTD ADR	197,953	238,840
ROSS STORES, INC	76,601	112,617
RYANAIR HOLDINGS PLC-ADR COM	102,272	129,007
SANOFI-AVENTIS SPONSORED ADR	355,357	366,174
SBERBANK SPONSORED ADR	128,623	159,689
SCHNEIDER ELEC UNSP/ADR	82,803	137,339
SEA LTD	5,786	92,359
SONIC HEALTHCARE LTD SHS	12,057	17,560
SONY CORP ADR	184,411	363,455
STANLEY BLACK & DECKER INC	49,812	49,818
SYSCO CORP	35,512	39,655
TAIWAN SEMICONDUCTOR MFG CO LT	91,366	240,760
TELUS CORP	73,619	87,021
TEXAS INSTRUMENTS INC	59,087	83,870
THE COCA-COLA CO	258,288	289,226
TJX COMPANIES INC	101,288	128,112
TRUIST FINANCIAL CORPORATION	31,038	43,712
UBISOFT ENTERTAIN UNSP ADR EAC	103,225	132,652
UNILEVER PLC AMER	515,103	567,202
UNION PACIFIC	51,384	82,039
UNITED OVRSEAS BK LTD ADR	24,859	23,236
UNITEDHEALTH GROUP INC	246,650	389,255
VERIZON COMMUNICATIONS	197,611	226,246
VISA INC	364,092	434,179
VODAFONE GROUP PLC	260,334	301,386
VOLKSWAGEN AG ADR	306,448	304,791
VOLVO AS-A ADR	63,921	99,564
VONTIER CORPORATION	14,646	19,005
WAL-MART STORES INC	73,464	112,581
WELLS FARGO & CO	279,675	201,663
WILLIAMS COS	79,552	70,416
WILLIS TOWERS WATSON PUBLIC LT	27,384	31,391
WUXI BIOLOGICS INC ADR	38,650	113,107
ZIMMER BIOMET HOLDINGS	67,005	69,495

- TIN:

TY 2020 InvestmentsGovtObligationsSch

Name:

Ortega Foundation

EIN:

65-0014714

US Government Securities - End of Year Book Value:

6,364,106

US Government Securities - End of Year Fair Market Value:

6,887,145

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

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

- TIN:

TY 2020 InvestmentsLandSchedule2

Name:

Ortega Foundation

EIN:

65-0014714

Category/ Item	Cost/Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
LAND - 1660 & 1690	3,426,864		3,426,864	3,425,000
LAND - 6222 CLARCO	630,000		630,000	298,432

- TIN:

TY 2020 OtherExpensesSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Administrative Fees	25,000		25,000
Bank Charges	6,599	6,599
Property insurance	2,115	2,115

- TIN:

TY 2020 OtherIncomeSchedule2

Name:

Ortega Foundation

EIN:

65-0014714

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
Federal Tax Refund	13,320
Interest Income from Note receivable	23,034	23,034

- TIN:

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

TY 2020 OtherNotesLoansRcvblLongSch

Name:

Ortega Foundation

EIN:

65-0014714

Borrower's Name	Relationship to Insider	Original Amount of Loan	Balance Due	Date of Note	Maturity Date	Repayment Terms	Interest Rate	Security Provided by Borrower	Purpose of Loan	Description of Lender Consideration	Consideration FMV
NOTE REC - MIYAKO USA INC	NONE	850,000	410,000	2012-12	2027-02	MONTHLY PRINCIPAL & INTEREST	525 %	INVENTORY & EQUIPMENT	INVESTMENT	N/A

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Services	166,111	166,111

- TIN:

TY 2020 TaxesSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Category	Amount	Net Investment Income
990-PF Estimated Tax for 2020	8,000
Foreign Tax Paid	22,622	22,622
Property Taxes	15,759	15,759