Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
ROBERT S & DOROTHY J KEYSER FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)165 WEST LIBERTY STREET NO 110
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
RENO, NV89501
A Employer identification number

88-0346537
B Telephone number (see instructions)

(775) 742-3127
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$19,933,966J 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 544 544  
4 Dividends and interest from securities... 277,989 277,040  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 750,121
b Gross sales price for all assets on line 6a 4,199,540
7 Capital gain net income (from Part IV, line 2)... 750,121
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 41,356 -18,597  
12 Total. Add lines 1 through 11........ 1,070,010 1,009,108  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 160,000 96,000   64,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 16,395 7,698   8,197
c Other professional fees (attach schedule).... Click to see attachment 112,051 109,011   3,040
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 21,512 3,769   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 48,344 38,166   638
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 358,302 254,644   75,875
25 Contributions, gifts, grants paid....... 746,600 746,600
26 Total expenses and disbursements. Add lines 24 and 25 1,104,902 254,644   822,475
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -34,892
b Net investment income (if negative, enter -0-) 754,464
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......... 638,147 521,414 521,414
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 56,633 58,693 58,693
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 9,336,339 Click to see attachment9,566,915 14,411,686
c Investments—corporate bonds (attach schedule)....... 808,416 Click to see attachment563,963 550,975
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 3,300,765 Click to see attachment3,394,423 4,391,198
14 Land, buildings, and equipment: basis bullet3,897
Less: accumulated depreciation (attach schedule) bullet3,897      
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 14,140,300 14,105,408 19,933,966
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) Click to see attachment541,340 Click to see attachment541,340
23 Total liabilities (add lines 17 through 22)......... 541,340 541,340
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........... 13,598,960 13,564,068
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 13,598,960 13,564,068
30 Total liabilities and net assets/fund balances (see instructions). 14,140,300 14,105,408
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
13,598,960
2
Enter amount from Part I, line 27a .....................
2
-34,892
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
13,564,068
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
13,564,068
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 GABELLI      
b SCHWAB I      
c HG CAPITAL IX CAPITAL GAIN (FROM K-1) P    
d HG CAPITAL IX SEC 1231 GAIN (FROM K-1) P    
e HG CAPITAL X CAPITAL GAIN (FROM K-1) P    
HG CAPITAL X SEC 1231 GAIN (FROM K-1) P    
CROSS CREEK CAPITAL CAPITAL GAIN (FROM K-1) P    
747 STUYVESANT CAPITAL GAIN (FROM K-1) P    
747 STUYVESANT SEC 1231 GAIN (FROM K-1) P    
AMERICAN CORE REALTY CAPITAL GAIN (FROM K-1) P    
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 287,352   181,927 105,425
b 3,911,383   3,508,675 402,708
c       -721
d       18,617
e       1,101
      -3
      145,192
      63,849
      -17
      13,165
805     805
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       105,425
b       402,708
c       -721
d       18,617
e       1,101
      -3
      145,192
      63,849
      -17
      13,165
      805
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 2 750,121
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 10,487
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 10,487
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 10,487
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 9,100
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 3,900
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 13,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 17
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 2,496
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet2,496 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCA, NV
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletMICHAEL J MELARKEY Telephone no.bullet (775) 742-3127

    Located atbullet165 WEST LIBERTY SUITE 110RENONV ZIP+4bullet89519
    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
    G BLAKE SMITH TRUSTEE
    16.00     		60,000 0 0
    165 WEST LIBERTY SUITE 110
    RENO,NV89501
    MICHAEL J MELARKEY TRUSTEE
    14.00     		50,000 0 0
    165 WEST LIBERTY SUITE 110
    RENO,NV89501
    TIMOTHY CASHMAN TRUSTEE
    3.00     		50,000 0 0
    165 WEST LIBERTY SUITE 110
    RENO,NV89501
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    WALLACE ADVISORY GROUP INVESTMENT MGMT 87,315
    3658 MT DIABLO BLVD STE 225
    LAFAYETTE,CA94549
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    17,361,500
    b
    Average of monthly cash balances.......................
    1b
    320,508
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    17,682,008
    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
    17,682,008
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    265,230
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    17,416,778
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    870,839
    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
    870,839
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    10,487
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    10,487
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    860,352
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    150,000
    5
    Add lines 3 and 4............................
    5
    1,010,352
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,010,352
    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
    822,475
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    822,475
    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
    822,475
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 1,010,352
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019...... 29,667
    fTotal of lines 3a through e........ 29,667
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 822,475
    a Applied to 2019, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 822,475
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 29,667 29,667
    (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 ..........     		158,210
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    MICHAEL J MELARKEY
    165 WEST LIBERTY SUITE 110
    RENO,NV89501
    (775) 742-3127
    bThe form in which applications should be submitted and information and materials they should include:
    NO SPECIFIC FORM IS REQURED FOR INTIAL REQUEST. APPLICANTS WILL BE PROVIDED FORMAL APPLICATION IF THE FOUNDATION HAS AN INTEREST IN THE REQUEST.
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    GRANTS ARE GENERALLY LIMITED TO PROGRAMS THAT CAN BE SHOWN TO HAVE SOME BENEFIT TO CHILDREN, AND TO PROGRAMS IN THE RENO AND LAS VEGAS, NEVADA, AREAS
    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
    ANIMAL FOUNDATION
    655 NORTH MOJAVE ROAD
    LAS VEGAS,NV89101     		NONE PC ACADEMY OF CANINE EDUCATION 10,000
    BIG BROTHERS BIG SISTERS OF NORTHERN NEVADA
    1300 FOSTER DRIVE 210
    RENO,NV89509     		NONE PC MENTOR PROGRAM 20,000
    BOY SCOUTS OF AMERICA - NEVADA AREA COUNCIL
    500 DOUBLE EAGLE COURT
    RENO,NV89521     		NONE PC PROGRAM SUPPORT 20,000
    CATHOLIC CHARITIES OF NORTHERN NEVADA
    500 EAST 4TH STREET
    RENO,NV89512     		NONE PC PROGRAM SUPPORT 35,000
    CATHOLIC CHARITIES OF SOUTHERN NEVADA
    1501 LAS VEGAS BLVD NORTH
    LAS VEGAS,NV89101     		NONE PC PROGRAM SUPPORT 50,000
    CHURCHILL LIBRARY ASSOCIATION
    553 SOUTH MAINE STREET
    FALLON,NV89406     		NONE PC ENDOWMENT 5,000
    CONQUER PARALYSIS NOW
    701 EAST BRIDGER AVENUE SUITE 150
    LAS VEGAS,NV89101     		NONE PC PROGRAM SUPPORT 10,000
    CURE 4 THE KIDS FOUNDATION
    1 BREAKTHROUGH WAY
    LAS VEGAS,NV89135     		NONE PC PHYSICAL THERAPY PROGRAM 50,000
    DISCOVERY CHILDREN'S MUSEUM
    360 PROMENADE PLACE
    LAS VEGAS,NV89106     		NONE PC DISCOVERY LAB PROJECT 25,000
    DONNER SPRINGS ELEMENTARY
    5125 ESCUELA WAY
    RENO,NV89502     		NONE GOV MASKS 2,100
    DRI FOUNDATION
    2215 RAGGIO PARKWAY
    RENO,NV89512     		NONE PC GREEN BOX PROGRAM 50,000
    EDDY HOUSE
    888 WILLOW STREET
    RENO,NV89502     		NONE PC BUILDING ACQUISITION 33,000
    FOOD BANK OF NORTHERN NEVADA
    550 ITALY DRIVE
    SPARKS,NV89437     		NONE PC PROGRAM SUPPORT 25,000
    GRANT A GIFT AUTISM FOUNDATION
    630 SOUTH RANCHO DRIVE
    LAS VEGAS,NV89106     		NONE PC TECHNICAL EQUIPMENT 30,000
    GREAT BASIN NATIONAL PARK FOUNDATION
    P O BOX 181
    BAKER,NV89311     		NONE PC OBSERVATORY EDUCATION PROGRAM 10,000
    HIGH SIERRA INDUSTRIES
    555 REACTOR WAY
    RENO,NV89502     		NONE PC PROTECTIVE FACE MASKS 3,600
    LEMELSON ELEMENTARY
    2001 SOARING EAGLE DRIVE
    RENO,NV89512     		NONE GOV MASKS 1,225
    LODER ELEMENTARY
    600 APPLE STREET
    RENO,NV89502     		NONE GOV MASKS 2,450
    NATCHEZ ELEMENTARY
    1 HIGHWAY 447
    WADSWORTH,NV89442     		NONE GOV MASKS 725
    NEVADA BASKETBALL ACADEMY
    P O BOX 11323
    RENO,NV89510     		NONE PC PROGRAM SUPPORT 5,000
    NEVADA HEALTH CENTERS
    3325 RESEARCH WAY
    CARSON CITY,NV89706     		NONE PC OPERATIONAL SUPPORT/MAMMOVAN 10,000
    NEVADA MUSEUM OF ART
    160 WEST LIBERTY STREET
    RENO,NV89501     		NONE PC ART COLLECTION/HANDS ON 100,000
    NORTHERN NEVADA DENTAL HEALTH PROGRAM
    5250 NEIL ROAD 103
    RENO,NV89502     		NONE PC CHARITY GOLF TOURNAMENT 10,000
    OPPORTUNITY VILLAGE
    6050 WEST BUFFALO DRIVE
    LAS VEGAS,NV89113     		NONE PC PROGRAM SUPPORT 10,000
    RENO BIKE PROJECT
    216 EAST GROVE STREET
    RENO,NV89502     		NONE PC MAJOR TAYLOR PROGRAM 10,000
    RISLEY ELEMENTARY
    1900 SULLIVAN LANE
    SPARKS,NV89431     		NONE GOV MASKS 2,100
    TAHOE FUND
    P O BOX 7124
    TAHOE CITY,CA96145     		NONE PC CAMPAIGN/TRAIL/PROGRAM SUPPORT/GOLD STEWARDSHIP CIRCLE 65,000
    TEACH FOR AMERICA
    25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		NONE PC PROGRAM SUPPORT 25,000
    WARNER ELEMENTARY
    3075 HEIGHTS DRIVE
    RENO,NV89503     		NONE GOV MASKS 1,400
    YMCA OF SOUTHERN NEVADA
    4141 MEADOWS LANE
    LAS VEGAS,NV89107     		NONE PC PROGRAM ENHANCEMENT CAMPAIGN 125,000
    Total .................................bullet 3a 746,600
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 544  
    4 Dividends and interest from securities....     14 277,989  
    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.....     16    
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 750,121  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aHG CAPITAL IX LLC (FROM K-1)     		531110 -492      
    bHG CAPITAL IX LLC (FROM K-1)     16 -2,011  
    cHG CAP X LLC (FROM K-1) 531110 -14,772      
    dHG CAP X LLC (FROM K-1)     16 -35,115  
    eHG CAP XI LLC (FROM K-1) 531110 -28,538      
    fHG CAP XI LLC (FROM K-1)     16 -14,876  
    gCROSSCREEK (FROM K-1)     16 -482  
    hSTUYVESANT (FROM K-1)     16 -12,358  
    iRETURN OF PRIOR YEAR GRANT - RENOWN         150,000
    12 Subtotal. Add columns (b), (d), and (e).. -43,802 963,812 150,000
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,070,010
    (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.)
    11 PRIOR YEAR GRANT OF $150,000 RETURNED TO THE FOUNDATION UNEXPENDED
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    ROBERT S & DOROTHY J KEYSER FOUNDATION
    EIN:
    88-0346537
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 16,395 7,698   8,197

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    ROBERT S & DOROTHY J KEYSER FOUNDATION
    EIN:
    88-0346537
    Name of Bond End of Year Book Value End of Year Fair Market Value
    SCHWAB I - AMERICAN AXLE & MAN 6.25% 39,740 41,400
    SCHWAB I - B&G FOODS 5.25% 39,290 41,200
    SCHWAB I - CORECIVIC 4.75% 40,373 39,160
    SCHWAB I - ICAHN ENTERPRISES 6.25% 41,022 40,150
    SCHWAB I - INGLES MARKETS 5.75% 17,957 18,180
    SCHWAB I - LUMEN TECHNOLOGY 5.625% 37,240 43,150
    SCHWAB I - MERCER INTERNTNL 5.5% 39,811 40,600
    SCHWAB I - NABORS INDUSTRIES 5.5% 39,253 26,200
    SCHWAB I - PBF HOLDING 7.25% 41,340 25,600
    SCHWAB I - PITNEY BOWES 4.625% 34,290 40,000
    SCHWAB I - QUAD/GRAPHICS 7% 41,308 35,700
    SCHWAB I - SALLY HOLDINGS 5.625% 38,560 41,150
    SCHWAB I - SUBURBAN PROPANE 5.5% 38,878 40,700
    SCHWAB I - TEMPER SEALY 5.5% 34,927 37,305
    SCHWAB I - TENNECO 5% 39,974 40,480

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    ROBERT S & DOROTHY J KEYSER FOUNDATION
    EIN:
    88-0346537
    Name of Stock End of Year Book Value End of Year Fair Market Value
    GABELLI - A T & T 17,517 28,760
    GABELLI - AEROJET ROCKETDYNE HLDG 22,950 26,425
    GABELLI - AMC NETWORKS 1,981 10,731
    GABELLI - AMERICAN EXPRESS 5,421 48,364
    GABELLI - AMERIPRISE FINL 5,107 38,866
    GABELLI - AMPCO PITTSBURGH 1,586 2,740
    GABELLI - ARCHER DANIELS MIDLAND 4,984 20,164
    GABELLI - ASTEC INDS 13,006 23,152
    GABELLI - AVANGRID 37,185 36,360
    GABELLI - AXALTA COATING SYSTEMS 25,628 28,550
    GABELLI - AZZ 17,120 23,720
    GABELLI - BANK OF AMERICA 11,836 12,124
    GABELLI - BANK OF NEW YORK MELLON 13,873 21,220
    GABELLI - BAUSCH HEALTH 51,784 41,600
    GABELLI - BUNGE 31,841 32,790
    GABELLI - CAMPBELL SOUP 19,281 29,010
    GABELLI - CIRCOR INTL 12,803 23,064
    GABELLI - CNH INDUSTRIAL 27,477 38,520
    GABELLI - COMCAST 5,619 20,960
    GABELLI - CRANE 12,825 46,596
    GABELLI - CTS 3,680 17,165
    GABELLI - CUTERA 7,521 12,055
    GABELLI - DANONE 15,955 19,650
    GABELLI - DISCOVERY COMMS 26,291 24,072
    GABELLI - DISH NETWORK 24,650 40,878
    GABELLI - WALT DISNEY 1,094 1,812
    GABELLI - DUCOMMUN 30,505 42,960
    GABELLI - EASTERN 9,885 12,050
    GABELLI - ENPRO INDUSTRIES 28,688 45,312
    GABELLI - FERRO 884 8,778
    GABELLI - FLOWERS FOODS 1,707 13,578
    GABELLI - FLOWSERVE 11,504 55,275
    GABELLI - FORTUNE BRANDS HOME 1,606 25,716
    GABELLI - FOX 24,462 17,472
    GABELLI - GATX 19,187 49,908
    GABELLI - GCP APPLIED TECHNOLOGIES 53,249 47,300
    GABELLI - GENERAL MILLS 12,132 29,400
    GABELLI - GENUINE PARTS 18,359 60,258
    GABELLI - GORMAN RUPP 11,502 52,731
    GABELLI - GRAHAM 20,485 22,770
    GABELLI - GRIFFON 7,538 16,304
    GABELLI - GRUPO TELEVISA 20,130 24,720
    GABELLI - HERC HLDGS 28,421 53,128
    GABELLI - HONEYWELL INTERNATIONAL 5,837 42,540
    GABELLI - IAC INTERACTIVE 3,179 75,740
    GABELLI - IBERDOLA 10,689 14,350
    GABELLI - INTL FLAVORS & FRAGRANCES 9,646 21,768
    GABELLI - INTRICON 6,530 9,050
    GABELLI - KAMAN 16,357 45,704
    GABELLI - KINNEVIK INVESTMENTS 15,961 25,380
    GABELLI - LIBERTY BROADBAND SER A 385 14,655
    GABELLI - LIBERTY BROADBAND SER C 3,137 38,801
    GABELLI - LIBERTY GLOBAL CL A 1,442 7,072
    GABELLI - LIBERTY GLOBAL CL C 1,387 6,906
    GABELLI - LIBERTY MEDIA BRAVES CL A 25,760 24,870
    GABELLI - LIBERTY MEDIA BRAVES CL C 10,404 12,440
    GABELLI - MADISON SQUARE GARDEN ENTERTAINMENT 503 17,437
    GABELLI - MADISON SQUARE GARDEN SPORTS 1,332 30,561
    GABELLI - MAPLE LEAF FOODS 28,464 33,255
    GABELLI - MATCH GROUP 2,169 37,797
    GABELLI - MONDELEZ INTERNATIONAL 9,686 29,235
    GABELLI - MSG NETWORKS 631 7,370
    GABELLI - MUELLER INDUSTRIES 17,234 21,066
    GABELLI - MUELLER WATER PRODUCTS 11,968 12,380
    GABELLI - NATIONAL BEVERAGE 23,574 42,450
    GABELLI - NATIONAL FUEL GAS 13,882 12,339
    GABELLI - NAVISTAR INTL 4,663 8,792
    GABELLI - NORTHERN TRUST 7,873 18,628
    GABELLI - RAYONIER 18,544 23,504
    GABELLI - RESIDEO TECHNOLOGIES 5,683 10,630
    GABELLI - ROGERS COMMUNICATIONS 1,381 23,295
    GABELLI - ROLLINS 1,104 35,163
    GABELLI - RPC 1,085 2,520
    GABELLI - RYMAN HOSPITALITY PROPERTIES 8,898 40,656
    GABELLI - SCRIPPS E W 26,758 22,935
    GABELLI - SENSIENT TECHNOLOGIES 4,012 14,754
    GABELLI - SINCLAIR BROADCAST GROUP 20,943 25,480
    GABELLI - STATE STREET 22,982 36,390
    GABELLI - STERLING BANCORP 3,866 11,345
    GABELLI - SWEDISH MATCH 33,643 47,118
    GABELLI - TELEPHONE & DATA SYSTEMS 13,627 11,142
    GABELLI - TEXTRON 69,875 72,495
    GABELLI - TREDEGAR INDUSTRIES 9,265 10,020
    GABELLI - UNITED STATES CELLULAR 20,207 15,345
    GABELLI - VIACOMCBS CL A 51,781 90,768
    GABELLI - WALGREEN BOOTS ALLIANCE 14,753 19,940
    GABELLI - WASTE MGMT 14,956 47,172
    GABELLI - WATTS WATER TECHNOLOGIES 5,559 36,510
    GABELLI - XYLEM 7,167 30,537
    SCHWAB I - A A O N 36,714 71,361
    SCHWAB I - A T & T 166,817 137,358
    SCHWAB I - ABB 46,123 49,098
    SCHWAB I - ABBOTT LABORATORIES 127,216 171,023
    SCHWAB I - ABBVIE 62,392 74,791
    SCHWAB I - ACCENTURE 83,963 144,449
    SCHWAB I - ADOBE 107,722 239,557
    SCHWAB I - AES 30,452 60,724
    SCHWAB I - AKAMI TECHNOLOGIES 23,653 26,982
    SCHWAB I - ALIGN TECHNOLOGY 40,394 97,792
    SCHWAB I - ALPHABET CL A 40,356 68,353
    SCHWAB I - ALPHABET CL C 128,203 217,233
    SCHWAB I - AMERICAN INTL GROUP 53,589 37,330
    SCHWAB I - AMGEN 57,811 73,115
    SCHWAB I - APPLIED MATERIALS 25,799 50,572
    SCHWAB I - ARGENX SE 39,287 125,576
    SCHWAB I - ASML HLDGS 37,259 90,228
    SCHWAB I - ASPEN TECHNOLOGY 38,517 62,129
    SCHWAB I - ASTRAZENECA 40,632 53,789
    SCHWAB I - AUTO TRADER GROUP 61,187 98,605
    SCHWAB I - AUTODESK 86,946 151,143
    SCHWAB I - AUTOHOME 90,074 102,310
    SCHWAB I - AVALARA 29,114 83,764
    SCHWAB I - BANK OF AMERICA 55,645 56,771
    SCHWAB I - BARRICK GOLD 44,825 62,258
    SCHWAB I - BAXTER INTERNATIONAL 45,964 50,391
    SCHWAB I - BILL.COM 63,417 123,396
    SCHWAB I - BLACKLINE 39,897 112,706
    SCHWAB I - BOOZ ALLEN HAMILTON 28,475 32,169
    SCHWAB I - BRISTOL-MYERS SQUIBB 56,545 60,789
    SCHWAB I - BURLINGTON STORES 24,501 46,556
    SCHWAB I - C R H 43,891 49,350
    SCHWAB I - CEMEX 49,645 48,071
    SCHWAB I - CENTENE 38,091 39,620
    SCHWAB I - CHARLES RIVER LABS 24,696 58,467
    SCHWAB I - CHEFS WAREHOUSE 16,928 17,957
    SCHWAB I - CHEVRON 171,554 124,564
    SCHWAB I - CHURCH & DWIGHT 17,784 31,054
    SCHWAB I - CIENA 31,479 40,589
    SCHWAB I - CIGNA 51,524 57,041
    SCHWAB I - CINTAS 24,599 50,545
    SCHWAB I - CISCO SYSTEMS 165,245 176,091
    SCHWAB I - CITIGROUP 55,738 50,993
    SCHWAB I - COOPER COMPANIES 24,421 39,602
    SCHWAB I - COPART 17,994 45,047
    SCHWAB I - CORNING 32,543 42,300
    SCHWAB I - CSX 21,434 34,939
    SCHWAB I - DIODES 27,238 49,350
    SCHWAB I - DOLLAR GENERAL 44,396 96,738
    SCHWAB I - DR REDDY'S LABORATORIES 32,784 58,315
    SCHWAB I - DUCK CREEK TECHNOLOGIES 69,656 73,177
    SCHWAB I - ENEL-SOCIETA 32,277 48,994
    SCHWAB I - ENTEGRIS 35,482 42,668
    SCHWAB I - ETSY 17,110 61,379
    SCHWAB I - EXPERIAN 30,904 40,655
    SCHWAB I - F M C 35,277 59,419
    SCHWAB I - FACEBOOK 149,844 279,716
    SCHWAB I - FACTSET RESEARCH SYS 28,334 47,215
    SCHWAB I - FIRST REPUBLIC BANK 24,625 39,377
    SCHWAB I - FIRSTENERGY 34,575 37,252
    SCHWAB I - FLOOR & DECOR HOLDINGS 39,941 37,233
    SCHWAB I - FORTINET 26,192 35,796
    SCHWAB I - FOX FACTORY HOLDING 37,821 115,435
    SCHWAB I - FREEPORT MCMORAN 18,828 44,442
    SCHWAB I - GARTNER 50,581 68,081
    SCHWAB I - GENERAC HOLDINGS 14,678 62,083
    SCHWAB I - GENMAB 34,054 45,092
    SCHWAB I - GOLD FIELDS LIMITED 39,460 88,992
    SCHWAB I - GOOSEHEAD INSURANCE 19,108 50,528
    SCHWAB I - GROVERY OUTLET HOLDINGS 29,709 35,404
    SCHWAB I - HDFC BANK 50,840 52,894
    SCHWAB I - HEICO 37,418 72,109
    SCHWAB I - HONEYWELL INTL 28,492 41,477
    SCHWAB I - HORIZON THERAPEUTICS 31,013 40,452
    SCHWAB I - HUAZHU GROUP 55,486 47,777
    SCHWAB I - HUMANA 27,785 41,848
    SCHWAB I - HUNTINGTON INGALLS 24,244 23,526
    SCHWAB I - IBM 83,835 73,640
    SCHWAB I - ICON 41,243 58,494
    SCHWAB I - IDEX 26,742 35,059
    SCHWAB I - ILLUMINA 72,047 77,700
    SCHWAB I - INTERACTIVE BROKERS 78,418 75,784
    SCHWAB I - INTUITIVE SURGICAL 65,639 71,993
    SCHWAB I - JINKOSOLAR HOLDING 38,430 37,122
    SCHWAB I - JPMORGAN CHASE & CO 138,747 176,500
    SCHWAB I - KB FINL GROUP 49,299 46,055
    SCHWAB I - KEYSIGHT TECH 21,653 50,723
    SCHWAB I - KONINLIJKE PHILIPS 33,759 41,440
    SCHWAB I - LAMB WESTON HOLDINGS 24,543 31,417
    SCHWAB I - LOGITECH INTL 32,220 65,991
    SCHWAB I - LOWES COMPANIES 40,749 67,254
    SCHWAB I - LVMH MOET 44,353 79,079
    SCHWAB I - MARATHON PETE 46,323 27,670
    SCHWAB I - MARKETAXESS HOLDINGS 29,328 79,878
    SCHWAB I - MASCO 39,737 39,495
    SCHWAB I - MASTERCARD 101,034 167,405
    SCHWAB I - MCCORMICK & CO 16,662 30,210
    SCHWAB I - MERCADOLIBRE 23,209 113,915
    SCHWAB I - METLIFE 40,983 42,114
    SCHWAB I - METLER TOLEDO INTL 24,295 47,867
    SCHWAB I - MICROSOFT 116,126 265,347
    SCHWAB I - MONOLITHIC POWER SYS 15,326 49,075
    SCHWAB I - MORGAN STANLEY 38,220 47,628
    SCHWAB I - MORNINGSTAR 31,478 75,029
    SCHWAB I - MSCI 32,520 62,514
    SCHWAB I - N V E 9,364 6,573
    SCHWAB I - NCINO 54,195 51,484
    SCHWAB I - NEUROCRINE BIOSCIENCE 31,799 23,100
    SCHWAB I - NEW ORIENTAL EDUCATION 32,958 67,635
    SCHWAB I - NEXTERA ENERGY 20,351 38,266
    SCHWAB I - NICE LTD 49,751 151,977
    SCHWAB I - NIKE 29,649 78,374
    SCHWAB I - NOVO-NORDISK 45,523 55,321
    SCHWAB I - NXP SEMICONDUCTORS 33,556 50,565
    SCHWAB I - OLLIES BARGAIN OUTLET 77,572 120,938
    SCHWAB I - OPPORTUNITY FINL 10,653 12,784
    SCHWAB I - PAYCOM SOFTWARE 28,330 105,827
    SCHWAB I - PAYPAL HOLDINGS 60,496 154,806
    SCHWAB I - PFIZER 65,769 69,534
    SCHWAB I - PHILIP MORRIS INTL 219,544 191,493
    SCHWAB I - PNC FINANCIAL 55,885 76,437
    SCHWAB I - POOL 17,276 43,583
    SCHWAB I - PRICESMART 17,876 19,402
    SCHWAB I - PROCTER & GAMBLE 62,957 73,883
    SCHWAB I - QUALCOMM 23,303 50,882
    SCHWAB I - QUALYS 25,177 34,367
    SCHWAB I - QURATE RETAIL 53,975 51,340
    SCHWAB I - RAYMOND JAMES FINL 24,619 26,596
    SCHWAB I - RAYTHEON TECHNOLOGIES 136,279 137,943
    SCHWAB I - REGENERON PHARMS 55,812 81,162
    SCHWAB I - RESMED 15,921 35,498
    SCHWAB I - RIGHTMOVE 67,024 99,542
    SCHWAB I - RIO TINTO 48,187 56,415
    SCHWAB I - ROYAL DUTCH SHELL 191,874 104,964
    SCHWAB I - RYANAIR HLDGS 49,237 47,291
    SCHWAB I - SALESFORCE.COM 101,718 133,295
    SCHWAB I - SERVICE NOW 77,920 151,368
    SCHWAB I - SIBANYE-STILLWATER 34,659 77,051
    SCHWAB I - SKYWORKS SOLUTIONS 24,453 42,501
    SCHWAB I - SOCIEDAD QUIMICA 52,384 55,079
    SCHWAB I - SONY 49,200 53,583
    SCHWAB I - SPS COMM 23,948 34,423
    SCHWAB I - STARBUCKS 66,624 115,431
    SCHWAB I - STERIS 21,961 44,163
    SCHWAB I - SYNOPSYS 17,709 55,218
    SCHWAB I - TAKE TWO INTERACTIVE 25,825 40,103
    SCHWAB I - TAL EDUCATION GROUP 37,338 71,510
    SCHWAB I - TECHNIPFMC LTD 51,338 32,129
    SCHWAB I - TELEDYNE TECHNOLOGY 27,522 34,886
    SCHWAB I - TENCENT HOLDINGS 33,995 45,003
    SCHWAB I - TERADATA 66,900 43,412
    SCHWAB I - THE COCA COLA CO 61,326 74,089
    SCHWAB I - THOMPSON REUTERS 33,581 41,354
    SCHWAB I - U S BANCORP 111,102 113,353
    SCHWAB I - U S PHYSICAL THERAPY 13,463 20,443
    SCHWAB I - UNION PACIFIC 20,977 31,025
    SCHWAB I - UNITEDHEALTH GROUP 87,847 97,138
    SCHWAB I - VERIZON COMMUNICATION 65,855 76,258
    SCHWAB I - VIPSHOP 31,819 59,846
    SCHWAB I - VISA 89,191 160,767
    SCHWAB I - WELLS FARGO BK N A 78,435 58,972
    SCHWAB I - WEST PHARM SRVC 31,092 39,096
    SCHWAB I - WILLIAMS COMPANIES 45,355 47,478
    SCHWAB I - WILLIAMS SONOMA 27,568 43,384
    SCHWAB I - ZEBRA TECHNOLOGIES 21,748 57,650
    SCHWAB I - ZOETIS 73,097 144,813
    SCHWAB I - 21VIANET GROUP 34,194 72,329
    SCHWAB I - SUN COMMUNITIES 27,693 28,871

    TY 2020 InvestmentsOtherSchedule2
    Name:
    ROBERT S & DOROTHY J KEYSER FOUNDATION
    EIN:
    88-0346537
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    CROSS CREEK CAPITAL AT COST 135,018 76,615
    ENTRUST CLASS X AT COST 49,933 45,068
    HG CAPITAL IX AT COST 55,271 55,271
    AMERICAN CORE REALTY AT COST 1,502,355 1,936,377
    HG CAPITAL X AT COST 134,892 140,935
    STUYVESANT AT COST 689,277 894,807
    HG CAPITAL XI AT COST 327,677 327,677
    WAYPOINTE PARTNERS AT COST 500,000 914,448

    TY 2020 OtherExpensesSchedule
    Name:
    ROBERT S & DOROTHY J KEYSER FOUNDATION
    EIN:
    88-0346537
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LICENSE 235 118   117
    INSURANCE 982 491   491
    OFFICE SUPPLIES 60 30   30
    SERVICE FEES 75 75   0
    INVESTMENT INTEREST FROM K-1S 3,463 3,463   0
    PORTFOLIO AND OTHER DEDUCTIONS FROM K-1 33,989 33,989   0
    NONDEDUCTIBLE EXPENSES FROM K-1S 127 0   0
    MISCELLANEOUS 8,029 0   0
    PENALTY 1,384 0   0


    TY 2020 OtherIncomeSchedule2
    Name:
    ROBERT S & DOROTHY J KEYSER FOUNDATION
    EIN:
    88-0346537
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    LIMITATION ON LOSS ACTIVITIES 0 46,245 0
    HG CAPITAL IX LLC (FROM K-1) -492   -492
    HG CAPITAL IX LLC (FROM K-1) -2,011 -2,011 -2,011
    HG CAP X LLC (FROM K-1) -14,772   -14,772
    HG CAP X LLC (FROM K-1) -35,115 -35,115 -35,115
    HG CAP XI LLC (FROM K-1) -28,538   -28,538
    HG CAP XI LLC (FROM K-1) -14,876 -14,876 -14,876
    CROSSCREEK (FROM K-1) -482 -482 -482
    STUYVESANT (FROM K-1) -12,358 -12,358 -12,358
    RETURN OF PRIOR YEAR GRANT - RENOWN 150,000   150,000


    TY 2020 OtherLiabilitiesSchedule
    Name:
    ROBERT S & DOROTHY J KEYSER FOUNDATION
    EIN:
    88-0346537
    Description Beginning of Year - Book Value End of Year - Book Value
    ADJUSTMENT TO BOOK BASIS OF INVESTMENTS 541,340 541,340


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    ROBERT S & DOROTHY J KEYSER FOUNDATION
    EIN:
    88-0346537
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT 109,011 109,011   0
    GRANT MANAGEMENT 3,040 0   3,040


    TY 2020 TaxesSchedule
    Name:
    ROBERT S & DOROTHY J KEYSER FOUNDATION
    EIN:
    88-0346537
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAX 3,769 3,769   0
    EXCISE TAXES 9,100 0   0
    CALIFORNIA TAX 7,796 0   0
    ARIZONA TAX 847 0   0