Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
THE TELLURAY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)5856 S LOWELL BLVD 32-201
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
LITTLETON, CO80123
A Employer identification number

20-1090247
B Telephone number (see instructions)

(303) 536-5408
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$138,278,042J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 495,652 494,195  
4 Dividends and interest from securities... 1,614,096 729,594  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 73,091
b Gross sales price for all assets on line 6a 154,049,150
7 Capital gain net income (from Part IV, line 2)... 73,091
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 257,799 1,007,704  
12 Total. Add lines 1 through 11........ 2,440,638 2,304,584  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 400,592 20,030   380,562
14 Other employee salaries and wages...... 114,032 0   114,032
15 Pension plans, employee benefits....... 46,829 1,533   45,296
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 358,958 219,920   139,038
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 29,834 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 6,053 0   6,053
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 16,988 0   16,988
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 973,286 241,483   701,969
25 Contributions, gifts, grants paid....... 6,511,114 6,511,114
26 Total expenses and disbursements. Add lines 24 and 25 7,484,400 241,483   7,213,083
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -5,043,762
b Net investment income (if negative, enter -0-) 2,063,101
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......... 1,126,130 1,060,778 1,060,778
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) bullet325,000
Less: allowance for doubtful accounts bullet0 0 325,000 325,000
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,714,611 Click to see attachment3,710,861 3,710,861
b Investments—corporate stock (attach schedule)....... 151,595,945 Click to see attachment100,577,762 100,577,762
c Investments—corporate bonds (attach schedule)....... 17,368,594 Click to see attachment10,696,539 10,696,539
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 20,465,781 Click to see attachment21,507,102 21,507,102
14 Land, buildings, and equipment: basis bullet388,075
Less: accumulated depreciation (attach schedule) bullet   400,888 388,075 400,000
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 192,671,949 138,266,117 138,278,042
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 192,671,949 138,266,117
29 Total net assets or fund balances (see instructions)..... 192,671,949 138,266,117
30 Total liabilities and net assets/fund balances (see instructions). 192,671,949 138,266,117
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
192,671,949
2
Enter amount from Part I, line 27a .....................
2
-5,043,762
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
180,000
4
Add lines 1, 2, and 3 ..........................
4
187,808,187
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
49,542,070
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
138,266,117
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 BEAR CREEK ASSET MANAGEMENT #2013 P    
b BEAR CREEK ASSET MANAGEMENT #2120 P    
c CRESTONE CAPITAL #1707 P    
d CRESTONE CAPITAL #1723 P    
e JP MORGAN #2000 P    
JP MORGAN #7003 P    
JP MORGAN #7004 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 5,029,896   5,030,792 -896
b 137,760,740   137,734,004 26,736
c 3,342,404   3,291,832 50,572
d 1,692,075   1,681,304 10,771
e 500,162   500,659 -497
1,967,662   1,979,775 -12,113
3,756,211   3,757,693 -1,482
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       -896
b       26,736
c       50,572
d       10,771
e       -497
      -12,113
      -1,482
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 73,091
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 28,677
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 28,677
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 28,677
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 28,554
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 28,554
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 123
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
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCO
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions Click to see attachment.............
    11
    Yes
     
    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 instructionsClick to see attachment.................
    12
    Yes
     
    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 ofbulletTHE TELLURAY FOUNDATION Telephone no.bullet (303) 536-5408

    Located atbullet5856 S LOWELL BLVD 32-201LITTLETONCO ZIP+4bullet80123
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    CHARLES W ERGEN PRESIDENT, DIRECTOR
    1.00     		0 0 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    CANTEY M ERGEN VICE PRESIDENT, DIRECTOR
    1.00     		0 0 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    WILLIAM R GOUGER TREASURER
    1.00     		0 0 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    ROBERT J HOOKE SECRETARY
    1.00     		0 0 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    CHRISTOPHER W ERGEN DIRECTOR
    1.00     		0 0 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    COURTNEY M ERGEN DIRECTOR
    1.00     		0 0 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    KATHERINE NE FLYNN DIRECTOR
    1.00     		0 0 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    REILLY O FLYNN DIRECTOR
    1.00     		0 0 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    KEVIN M MURRAY DIRECTOR
    1.00     		592 0 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    KERRY E MURRAY DIRECTOR
    1.00     		0 0 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    SHARON SCHNEIDER EXECUTIVE DIRECTOR
    40.00     		400,000 16,362 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    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
    MOLLY CHAFETZ PROGRAM OFFICER AND
    40.00     		59,543 3,822 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    ALEXANDRA CDE BACA PROGRAM OFFICER
    40.00     		54,488 3,312 0
    5856 S LOWELL BLVD 32-201
    LITTLETON,CO80123
    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
    CRESTONE CAPITAL INVESTMENT MANAGEMENT 137,576
    1048 PEARL STREET SUITE 450
    BOULDER,CO80302
    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 THE TELLURAY FOUNDATION MADE A LOAN TO THE ENERGIZE COLORADO GAP FUND. THE GAP FUND WILL PROVIDE MORE THAN $25 MILLION IN SMALL BUSINESS LOANS AND GRANTS TO HELP COLORADO SMALL BUSINESSES RESPOND TO AND RECOVER FROM THE COVID-19 PUBLIC HEALTH EMERGENCY. THE LOAN WAS FOR $325,000 AND IS AN INTEREST-FREE LOAN THROUGH 2/1/2027. 325,000
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet325,000
    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
    130,370,327
    b
    Average of monthly cash balances.......................
    1b
    1,443,537
    c
    Fair market value of all other assets (see instructions)................
    1c
    5,181,358
    d
    Total (add lines 1a, b, and c).........................
    1d
    136,995,222
    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
    136,995,222
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    2,054,928
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    134,940,294
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    6,747,015
    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
    6,747,015
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    28,677
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    28,677
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    6,718,338
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    180,000
    5
    Add lines 3 and 4............................
    5
    6,898,338
    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
    6,898,338
    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
    7,213,083
    b
    Program-related investments—total from Part IX-B..................
    1b
    325,000
    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
    7,538,083
    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
    7,538,083
    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 6,898,338
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 7,359,781
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 7,538,083
    a Applied to 2019, but not more than line 2a 7,359,781
    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..... 178,302
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		6,720,036
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    CHARLES W ERGEN
    CANTEY M ERGEN
    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
    ARAPAHOE SANTA CLAUS SHOP
    PO BOX 2004
    LITTLETON,CO80161     		N/A PC TOYS FOR KIDS 10,000
    AUTHENTIC LIFE CHURCH
    6500 WEST COAL MINE AVENUE
    LITTLETON,CO80123     		N/A PC SUPPORT FOR THE OPEN ARMS FOOD BANK 25,000
    BIG CITY MOUNTAINEERS
    710 10TH ST SUITE 120
    GOLDEN,CO804015843     		N/A PC GENERAL SUPPORT 50,000
    CASA OF THE 7TH JUDICIAL DISTRICT
    147 N TOWNSEND
    MONTROSE,CO81401     		N/A PC RENT-MATCH PILOT PROGRAM FOR EMANCIPATED FOSTER YOUTH 45,000
    CASA OF THE 7TH JUDICIAL DISTRICT
    147 N TOWNSEND
    MONTROSE,CO81401     		N/A PC RENT-MATCH PILOT PROGRAM FOR EMANCIPATED FOSTER YOUTH 8,127
    CASA OF THE 7TH JUDICIAL DISTRICT
    147 N TOWNSEND
    MONTROSE,CO81401     		N/A PC RENT-MATCH PILOT PROGRAM FOR EMANCIPATED FOSTER YOUTH 11,340
    CHILDRENS HOSPITAL COLORADO FOUNDATION
    13123 E 16TH AVENUE
    AURORA,CO800457106     		N/A PC COVID-19 EMERGENCY RESPONSE 100,000
    CHILDRENS HOSPITAL COLORADO FOUNDATION
    13123 E 16TH AVENUE
    AURORA,CO800457106     		N/A PC COVID-19 EMERGENCY RESPONSE 15,000
    CHILDRENS HOSPITAL COLORADO FOUNDATION
    13123 E 16TH AVENUE
    AURORA,CO800457106     		N/A PC GENERAL OPERATING SUPPORT 25,000
    CHILDRENS HOSPITAL COLORADO FOUNDATION
    13123 E 16TH AVENUE
    AURORA,CO800457106     		N/A PC GENERAL SUPPORT 500,000
    CITY OF LITTLETON
    2255 WEST BERRY AVE
    LITTLETON,CO80120     		N/A PC WEEKENDS ON MAIN 51,340
    CITY OF LITTLETON
    6014 S DATURA STREET
    LITTLETON,CO80120     		N/A PC BEMIS PUBLIC LIBRARY MAKERSPACE PROJECT 27,000
    CITY OF LITTLETON
    6028 S GALLUP ST
    LITTLETON,CO80120     		N/A PC LITTLETON MUSEUM VIDEO ORIENTATION ROOM 60,450
    COLORADO ACADEMY
    3800 S PIERCE ST
    DENVER,CO802352404     		N/A PC SEE IT THROUGH CAMPAIGN 250,000
    COLORADO HOUSING AND FINANCE AUTHORITY
    1981 BLAKE STREET
    DENVER,CO80202     		N/A PC ENERGIZE COLORADO GAP FUND 175,000
    COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
    1600 BROADWAY 2500
    DENVER,CO80202     		N/A PC GREATER COLORADO PITCH SERIES 20,000
    COLORADO WATER TRUST INC
    3264 LARIMER ST UNIT D
    DENVER,CO802053980     		N/A PC ENTREPRENEURIAL MARKET-BASED SOLUTIONS FOR RIVER RESTORATION 100,000
    COMMUNITY COOPERATIVE
    1226 VERMONT AVE NW SUITE 200
    WASHINGTON,DC20005     		N/A PC SHARED OWNERSHIP WORKSHOP 1,000
    CYCLING WITHOUT AGE
    9153 W RICE AVE
    LITTLETON,CO80123     		N/A PC TO PURCHASE A TRISHAW 13,000
    DENVER FOOD RESCUE
    135 PARK AVENUE W
    DENVER,CO80205     		N/A PC COVID-19 EMERGENCY RESPONSE 25,000
    DENVER'S ART DISTRICT ON SANTA FE
    525 SANTA FE DR
    DENVER,CO80204     		N/A PC MEMBERSHIP DUES REVENUE GAP 10,000
    DENVER'S ART DISTRICT ON SANTA FE
    525 SANTA FE DR
    DENVER,CO80204     		N/A PC ARTIST/SMALL BUSINESS RELIEF FUNDS 20,000
    ENVIRONMENTAL DEFENSE FUND INCORPORATED
    257 PARK AVENUE SOUTH
    NEW YORK,NY10010     		N/A PC GENERAL SUPPORT 150,000
    FIRST NATIONS DEVELOPMENT INSTITUTE
    2432 MAIN STREET 2ND FLOOR
    LONGMONT,CO80501     		N/A PC COVID RELIEF 20,000
    FOOD BANK OF THE ROCKIES
    10700 E 45TH AVENUE
    DENVER,CO80239     		N/A PC COVID-19 EMERGENCY RESPONSE - GENERAL SUPPORT 25,000
    FOOD BANK OF THE ROCKIES
    10700 E 45TH AVENUE
    DENVER,CO80239     		N/A PC GENERAL OPERATING SUPPORT 50,000
    GRACEFULL CAFE
    5610 S CURTICE ST
    LITTLETON,CO80120     		N/A PC SPONSOR FREE COMMUNITY BREAKFAST 3,500
    HIGH LINE CANAL CONSERVANCY
    915 S PEARL ST
    DENVER,CO80209     		N/A PC HIGH LINE CANAL ENHANCEMENTS IN LITTLETON 637,500
    HOPE IN OUR CITY
    2615 W 12TH AVE
    DENVER,CO802043324     		N/A PC COVID-19 EMERGENCY RESPONSE - EMERGENCY RESPONSE FUNDS 15,000
    HOPE IN OUR CITY
    2615 W 12TH AVE
    DENVER,CO802043324     		N/A PC COVID-19 EMERGENCY RESPONSE 30,000
    HUDSON GARDENS (KING C HUDSON AND EVELYN LEIGH HUDSON FOUNDATION)
    6115 S SANTA FE DRIVE
    LITTLETON,CO80120     		N/A PC GARDEN CANOPY VENUE REPLACEMENT 250,000
    LITTLETON PUBLIC SCHOOL FOUNDATION
    5776 S CROCKER ST
    LITTLETON,CO801202012     		N/A PC COVID-19 EMERGENCY RESPONSE - MEAL DELIVERY 25,000
    LITTLETON PUBLIC SCHOOL FOUNDATION
    5776 S CROCKER ST
    LITTLETON,CO801202012     		N/A PC NUTRITION SERVICES 50,000
    LITTLETON PUBLIC SCHOOL FOUNDATION
    5776 S CROCKER ST
    LITTLETON,CO801202012     		N/A PC FLEXIBLE FUNDING FOR MENTAL HEALTH 100,000
    LITTLETON TOWN HALL ARTS CENTER
    2450 W MAIN ST
    LITTLETON,CO80120     		N/A PC GENERAL OPERATING SUPPORT 100,000
    LITTLETON TOWN HALL ARTS CENTER
    2450 W MAIN ST
    LITTLETON,CO80120     		N/A PC GENERAL OPERATING SUPPORT 100,000
    LIVEWELL COLORADO
    1490 LAFAYETTE ST SUITE 404
    DENVER,CO80218     		N/A PC STRENGTHENING CHILD NUTRITION IN THE TRI-CITIES 100,000
    MILE HIGH WORKSHOP INC
    13280 E MISSISSIPPI AVE
    AURORA,CO800123400     		N/A PC COVID-19 EMERGENCY RESPONSE 15,000
    MILE HIGH WORKSHOP INC
    13280 E MISSISSIPPI AVE
    AURORA,CO800123400     		N/A PC COVID-19 EMERGENCY RESPONSE 25,000
    MIND SHIFT
    403 CENTER AVE SUITE 702
    MOORHEAD,MN56560     		N/A PC DENVER EXPANSION 100,000
    MISSION HILLS CHURCH
    620 SOUTH PARK DR
    LITTLETON,CO80120     		N/A PC SUPPORT FOR THE LIFE CENTER 10,000
    NATIONAL FOREST FOUNDATION
    BLDG 27 SUITE 3 FORT MISSOULA ROAD
    MISSOULA,MT59804     		N/A PC COVID-19 EMERGENCY RESPONSE 500
    NATIONAL FOREST FOUNDATION
    BLDG 27 SUITE 3 FORT MISSOULA ROAD
    MISSOULA,MT59804     		N/A PC PRESERVING THE WONDER OF COLORADO'S FOURTEENERS FOR FUTURE GENERATIONS 211,300
    NATIONAL WILDLIFE FEDERATION
    11100 WILDLIFE CENTER DR
    RESTON,VA20190     		N/A PC NATURE WITHIN REACH INITIATIVE 100,000
    NFRIA WSERC CONSERVATION CENTER INC
    PO BOX 1612
    PAONIA,CO814288112     		N/A PC NORTH FORK RIVER COMMUNITY CONNECTION PROJECT OTHER 75,000
    NOURISH MEALS ON WHEELS
    92 E ARAPAHOE ROAD
    LITTLETON,CO80122     		N/A PC GENERAL OPERATING SUPPORT 35,000
    NOURISH MEALS ON WHEELS
    92 E ARAPAHOE ROAD
    LITTLETON,CO80122     		N/A PC 12 DAYS OF CHRISTMAS 6,652
    PHILANTHROPY COLORADO
    5855 WADSWORTH BYPASS UNIT A
    ARVADA,CO80003     		N/A PC GENERAL SUPPORT 3,905
    RAISE THE FUTURE
    1325 S COLORADO BLVD STE B700
    DENVER,CO80222     		N/A PC INTENSIVE RECRUITMENT PROGRAM 50,000
    REACH OUT AND READ COLORADO
    3705 MARTIN LUTHER KING JR BLVD
    DENVER,CO80205     		N/A PC COVID-19 EMERGENCY GRANT 500
    REACH OUT AND READ COLORADO
    3705 MARTIN LUTHER KING JR BLVD
    DENVER,CO80205     		N/A PC ADVANCING EQUITY IN LITERACY AND HEALTH FOR LOW-INCOME CHILDREN IN RURAL COLORADO 90,000
    REAL LIFE COLORADO
    4896 S CLARKSON STREET
    ENGLEWOOD,CO80113     		N/A PC THE LEARNING ZONE 35,000
    SCHWAB CHARITABLE FUND
    211 MAIN STREET
    SAN FRANCISCO,CA941051905     		N/A PC DONOR-ADVISED FUND 1,600,000
    TEACH FOR AMERICA - DENVER
    1391 SPEER BOULEVARD
    DENVER,CO80204     		N/A PC COLORADO LAUNCH FELLOWSHIP: AN INNOVATIVE ECE-12 TALENT STRATEGY 350,000
    TELLURIDE FOUNDATION
    220 E COLORADO AVE
    TELLURIDE,CO81435     		N/A PC MINING WASTE WATER RECLAMATION ACCELERATOR VENTURE BOOTCAMP 50,000
    TELLURIDE FOUNDATION
    220 E COLORADO AVE
    TELLURIDE,CO81435     		N/A PC OURAY COUNTY COVID-19 RESPONSE 30,000
    THE LOCKWOOD FOUNDATION
    109 S GLENROSE DR
    PUEBLO WEST,CO81007     		N/A PC CAPACITY BUILDING 35,000
    THERE WITH CARE
    2825 WILDERNESS PL SUITE 100
    BOULDER,CO803015432     		N/A PC COVID-19 EMERGENCY RESPONSE 50,000
    THERE WITH CARE
    2825 WILDERNESS PL SUITE 100
    BOULDER,CO803015432     		N/A PC GENERAL OPERATING SUPPORT 25,000
    THERE WITH CARE
    2825 WILDERNESS PL SUITE 100
    BOULDER,CO803015432     		N/A PC THERE WITH CARE MENTAL HEALTH CARE PROJECT 125,000
    UNIVERSITY OF COLORADO FOUNDATION
    10901 W 120TH AVENUE 200
    BROOMFIELD,CO80021     		N/A PC PHILIP J. WEISER ENDOWED SCHOLARSHIP FUND 200,000
    VALLEY SETTLEMENT
    520 S 3RD STREET NO 9
    CARBONDALE,CO816232059     		N/A PC COVID-19 EMERGENCY GRANT - IPADS 20,000
    VALLEY SETTLEMENT
    520 S 3RD STREET NO 9
    CARBONDALE,CO816232059     		N/A PC COVID-19 EMERGENCY RESPONSE - EMERGENCY RELIEF FUND 15,000
    WORK OPTIONS FOR WOMEN
    711 PARK AVE W
    DENVER,CO802052891     		N/A PC COVID-19 EMERGENCY GRANT - MEAL PREPARATION 15,000
    WORK OPTIONS FOR WOMEN
    711 PARK AVE W
    DENVER,CO802052891     		N/A PC JUSTICE-INVOLVED MOBILE PROGRAMMING 40,000
    Total .................................bullet 3a 6,511,114
    bApproved for future payment
    THE LOCKWOOD FOUNDATION
    109 S GLENROSE DR
    PUEBLO WEST,CO81007     		N/A PC CAPACITY BUILDING 26,250
    CASA OF THE 7TH JUDICIAL DISTRICT
    147 N TOWNSEND
    MONTROSE,CO81401     		N/A PC RENT-MATCH PILOT PROGRAM FOR EMANCIPATED FOSTER YOUTH 250,533
    Total .................................bullet 3b 276,783
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 495,652  
    4 Dividends and interest from securities....     14 1,614,096  
    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.....     14 257,466  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 73,091  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aFEE CREDITS     		    01 333  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 2,440,638 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,440,638
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 GeneralExplanationAttachment
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    Identifier Return Reference Explanation
    CONTROLLED ENTITIES 990-PF PART VII-A, LINE 11 NAME OF CONTROLLED ENTITY: BEAR CREEK PRODUCTS 2019-1 PTA-L, LLLP EIN: 84-2778065ADDRESS: 1200 17TH STREET, SUITE 970, DENVER, CO 80202THIS ENITITY IS NOT AN EXCESS BUSINESS HOLDING.

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ANGLESEA DISC COML PAPER - 0.000% - 01/03/2020 1,249,845 1,249,845
    LAND O LAKES - 7.000% - 09/18/2068 469,375 469,375
    AMERICAN HONDA FINANCE 174,985 174,985
    BANK OF MONTREAL - CHICAGO 400,024 400,024
    BANK OF MONTREAL - CHICAGO SOFR 1,000,250 1,000,250
    ROYAL BANK OF CANADA - SOFR 1,500,000 1,500,000
    ONTARIO POWER GENERATION 449,955 449,955
    SPIRE INC 499,933 499,933
    UNIVERSITY OF CA-AU 801,480 801,480
    WELLS FARGO & COMPANY 1.14% 500,425 500,425
    WELLS FARGO & COMPANY 3.00% 250,325 250,325
    WISCONSIN POWER & LIGHT 1,399,985 1,399,985
    YALE UNIVERSITY 1,999,957 1,999,957

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AMERICAN EQUITY INVT LIFE HLDG PRF SERIES A 312,240 312,240
    ATHENE HLDG DS LTD PFD SER A 583,600 583,600
    BANK OF AMERICA CORP - 7.250% - CONV PFD SER L 873,184 873,184
    CITIGROUP INC PFD - 6.30% 48,564 48,564
    CLARKSON PARTNERS INSTITUTIONAL FUND 546,162 546,162
    COBANK ACB - 6.125% - PFD SER G 1,291,500 1,291,500
    DISH NETWORK CORPORATION 70,144,652 70,144,652
    DODGE & COX INCOME FUND 585,177 585,177
    DOUBLELINE TOTAL RETURN BOND 303,771 303,771
    ECHOSTAR HOLDING CORPORATION 114,426 114,426
    EMQQ THE EMERGING MARKETS INTERNET AND ECOMMERCE 447,349 447,349
    FIDELITY 500 INDEX FUND 2,103,159 2,103,159
    FIDELITY CONSERV INC BD FD 54,109 54,109
    FIDELITY INTERNATL INDEX INSTL PREMIUM 898,749 898,749
    FIRST TRUST DOW JONES INTERNET INDEX 387,956 387,956
    FPA NEW INCOME FUND CLASS A 803,796 803,796
    GQG PARTNERES EMERGING MARKETS 532,837 532,837
    INVESCO NASDAQ INTERNET ETF 284,109 284,109
    INVESCO QQQ TRUST 596,420 596,420
    ISHARES CORE MSCI EMERGING MARKETS 564,688 564,688
    ISHARES GOLD TRUST 592,905 592,905
    ISHARES MSCI ACWI INDEX 232,425 232,425
    ISHARES MSCI INDIA ETF 170,975 170,975
    ISHARES MSCI-JAPAN 171,062 171,062
    ISHARES RUSSELL 2000 GROWTH INDEX 301,035 301,035
    ISHARES TRUST MSCI EAFE INDEX FUND 439,219 439,219
    ISHARES TRUST RUSSELL 1000 GROWTH INDEX FD 467,329 467,329
    ISHARES TRUST RUSSELL 1000 VALUE INDEX FUND 988,421 988,421
    ISHARES TRUST RUSSELL 2000 VALUE INDEX FUND 277,729 277,729
    ISHARES TRUST - ISHARES MSCI ALL CTRY 324,388 324,388
    MAINGATE MLP FUND CL I 71,205 71,205
    OAKMARK INTERNATIONAL FUND 492,945 492,945
    PIMCO COMMODITY REAL RETURN STRATEGY FUND 91,140 91,140
    PIMCO EMERGING MARKETS BOND INSTL 85,418 85,418
    PIMCO INTERNATIONAL BOND FUND INST 88,207 88,207
    PIMCO TOTAL RETURN FUND 464,106 464,106
    RBC GLOBAL OPPORTUNITIES FUND CL I 478,104 478,104
    SCHWAB US TIPS 384,772 384,772
    SPDR S&P BIOTECH ETF 129,940 129,940
    STIFEL FINL CORP SER B 6.250% PFD 389,480 389,480
    THIRD AVENUE REAL ESTATE VALUE FUND 245,542 245,542
    TOUCHSTONE SANDS EMERGING MARKETS GR-Y 509,845 509,845
    VANGUARD FIN ETF 218,841 218,841
    VANGUARD FTSE EMERGING MARKETS 336,388 336,388
    VANGUARD MID-CAP ETF 648,431 648,431
    VANGUARD INDEX FDS REAL ESTATE INDEX FUND 208,843 208,843
    VANGUARD TOTAL BOND MARKET INDEX FD ADMIRAL 1,657,583 1,657,583
    WELLS FARGO & CO. PRFD 'L' 986,635 986,635
    YACKTMAN FOCUSED FUND INST CL 690,961 690,961
    EDGEWOOD GROWTH FUND INSTITUTIONAL CLASS 1,288,222 1,288,222
    BAILLIE GIFFORD INTL CONCENTRATED GROWTH EQUITY 497,483 497,483
    BARON HEALTH CARE INSTITUTIONAL FUND CLASS 180,026 180,026
    SPYGLASS GROWTH FUND INSTITUTIONAL CLASS 532,768 532,768
    ALPS ETF TR ALERIAN MLP 114,828 114,828
    HEALTHCARE SELECT SECTOR 484,049 484,049
    ISHARES TR MSCI EAFE GROWTH ETF 296,171 296,171
    SPDR S&P 500 ETF 140,205 140,205
    MATTHEWS CHINA FUND-INS 197,625 197,625
    ISHARES GLOBAL INFRASTRUCTURE 143,281 143,281
    PIMCO COMMODITY PL STRAT-INS 151,071 151,071
    PIMCO INV GRD CRD BND-INST 391,209 391,209
    COMERICA 387,625 387,625
    JP MORGAN CHASE 160,912 160,912
    MORGAN SHANLEY 352,800 352,800
    REGIONS FINANCIAL CORP 167,100 167,100
    STIFEL FINANCIAL CORP 6.13 281,000 281,000
    WCM FOCUSED INTL GROWTH-INS 446,604 446,604
    T ROWE PRICE JAPAN FUND I 376,380 376,380
    T ROWE PRICE NEW ASIA 200,673 200,673
    ISHARES MSCI BRAZIL ETF 167,408 167,408

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    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:


    3,710,861
    State & Local Government Securities - End of Year Fair Market Value:


    3,710,861


    TY 2020 InvestmentsOtherSchedule2
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BEAR CREEK PRODUCTS 2018-5 (SNF BRIDGE), LLLP FMV 7,922,601 7,922,601
    BEAR CREEK PRODUCTS 2019-1 (PTA-L) FMV 6,122,098 6,122,098
    CRESTONE ALTERNATIVE STRATEGIES LTD FMV 2,190,000 2,190,000
    GREATER COLORADO VENTURE FUND LP FMV 125,000 125,000
    GROSVENOR ALT INV CL B (7003) FMV 770,751 770,751
    GROSVENOR ALT INV CL B (7004) FMV 1,461,997 1,461,997
    ISHARES S&P GSCI COMMOD-INDEXED TRUST FMV 48,297 48,297
    KENOSHA CREDIT OPPORTUNITIES FUND FMV 1,441,355 1,441,355
    KENOSHA HIGH YIELD FUND VI LP FMV 149,470 149,470
    KENOSHA MUNI OPPORTUNITY FUND II LP FMV 326,919 326,919
    MAROON PEAKS PRIVATE EQUITY FUND X FMV 93,065 93,065
    MAROON PEAKS PRIVATE EQUITY FUND IX FMV 269,714 269,714
    MONTEZUMA FUND IV LP FMV 205,456 205,456
    CARIBOU GLOBAL EQUITY FUND LP FMV 300,000 300,000
    MONTEZUMA FUND V LP FMV 80,379 80,379

    TY 2020 OtherDecreasesSchedule
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    Description Amount
    RESTATE ASSETS ON FMV BASIS 46,085,363
    UNREALIZED LOSSES ON INVESTMENTS 3,456,707


    TY 2020 OtherExpensesSchedule
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FILING FEES 52 0   52
    COMPUTER HARDWARE 830 0   830
    TRAINING & EDUCATION 8,095 0   8,095
    RECRUITING 759 0   759
    CHARITABLE USE PROPERTY EXPENSES 3,585 0   3,585
    DUES & SUBSCRIPTIONS 1,164 0   1,164
    SOFTWARE & SUBSCRIPTIONS SERVICES 2,503 0   2,503


    TY 2020 OtherIncomeSchedule2
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    BEAR CREEK PRODUCTS 2018-5, LLLP   434,638  
    BEAR CREEK PRODUCTS 2019-1, PTA-L, LLLP   449,897  
    ISHARES S&P GSCI COMMODITY-INDEXED TRUST   -25,721  
    KENOSHA CREDIT OPPORTUNITIES FUND, LP #169   26,657  
    KENOSHA CREDIT OPPORTUNITIES FUND, LP #170   53,315  
    KENOSHA HIGH YIELD FUND VI, LP #84   2,606  
    KENOSHA HIGH YIELD FUND VI, LP #85   5,294  
    KENOSHA MUNI OPPORTUNITY FUND II, LP #57   -270  
    KENOSHA MUNI OPPORTUNITY FUND II, LP #58   -539  
    MAROON PEAKS PRIVATE EQUITY FUND IX, LP   -1,207  
    MAROON PEAKS PRIVATE EQUITY FUND X, LP   -7,084  
    MONTEZUMA FUND IV, LP   -14,513  
    MONTEZUMA FUND V, LP   -5,367  
    CARIBOU GLOBAL EQUITY FUND, LP #98   -23,176  
    CARIBOU GLOBAL EQUITY FUND, LP #88   -46,370  
    GREATER COLORADO VENTURE FUND   -4,168  
    CAPITAL GAIN DISTRIBUTIONS 163,379 163,379 163,379
    PARTNERSHIP DISTRIBUTIONS 94,087 0 94,087
    FEE CREDITS 333 333 333


    TY 2020 OtherIncreasesSchedule
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    Description Amount
    REFUND OF GRANT MADE IN PRIOR YEAR 180,000


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT SERVICES 210,229 210,229   0
    ADMINISTRATIVE SERVICES 129,347 0   129,347
    ACCOUNTING 19,382 9,691   9,691


    TY 2020 TaxesSchedule
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX 29,834 0   0


    TY 2020 TransfersFrmControlledEntities
    Name:
    THE TELLURAY FOUNDATION
    EIN:
    20-1090247
    Name US /
    Foreign Address    		 EIN Description Amount
    BEAR CREEK PRODUCTS 2019-1 PTA-L LLLP 1200 17TH STREET SUITE 970
    DENVER,CO80202     		84-2778065 PARTNERSHIP DISTRIBUTION 0
    Total     928,550