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
Jay and Sarah Flatley Foundation
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

81-3855993
B Telephone number (see instructions)

(800) 839-1754
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$25,010,213J 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) 2,455,750
2 Check bullet.............
3 Interest on savings and temporary cash investments 3,788 3,788  
4 Dividends and interest from securities... 338,455 338,455  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,026,516
b Gross sales price for all assets on line 6a 6,179,205
7 Capital gain net income (from Part IV, line 2)... 2,592,411
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 3,824,509 2,934,654  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 82,293 82,293    
17 Interest............... 56 56    
18 Taxes (attach schedule) (see instructions)... Click to see attachment 42,133 2,978    
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 50,518 541   49,977
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 175,000 85,868   49,977
25 Contributions, gifts, grants paid....... 831,000 831,000
26 Total expenses and disbursements. Add lines 24 and 25 1,006,000 85,868   880,977
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,818,509
b Net investment income (if negative, enter -0-) 2,848,786
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......... 705,646 405,469 405,469
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet   2,630    
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,697,960 Click to see attachment1,767,765 1,859,101
b Investments—corporate stock (attach schedule)....... 13,354,528 Click to see attachment15,198,224 18,187,448
c Investments—corporate bonds (attach schedule)....... 2,522,221 Click to see attachment2,109,781 2,207,989
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 184,550 Click to see attachment1,831,901 2,350,206
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 18,467,535 21,313,140 25,010,213
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 attachment15,340 Click to see attachment42,436
23 Total liabilities (add lines 17 through 22)......... 15,340 42,436
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 18,452,195 21,270,704
29 Total net assets or fund balances (see instructions)..... 18,452,195 21,270,704
30 Total liabilities and net assets/fund balances (see instructions). 18,467,535 21,313,140
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
18,452,195
2
Enter amount from Part I, line 27a .....................
2
2,818,509
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
21,270,704
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
21,270,704
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly-traded Securities      
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 6,179,205   3,586,794 2,592,411
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       2,592,411
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,592,411
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 39,598
c All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 39,598
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 39,598
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 35,970
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 4,170
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 40,140
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 8
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 10 534
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet534 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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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)
    bulletDE
    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 addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    Jay Flatley Co- Pres, Dir, Sec, Treas
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Sarah Flatley Co- Pres, Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
     
    Total number of other employees paid over $50,000...................bullet  
    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
    Goldman Sachs & co llc Investment Mgmt 82,293
    2121 Avenue of stars ste 2600
    LOS ANGELES,CA900675050
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2020)
    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
    18,901,559
    b
    Average of monthly cash balances.......................
    1b
    487,156
    c
    Fair market value of all other assets (see instructions)................
    1c
    2,125,143
    d
    Total (add lines 1a, b, and c).........................
    1d
    21,513,858
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    21,513,858
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    322,708
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    21,191,150
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,059,558
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,059,558
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    39,598
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    39,598
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,019,960
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    1,019,960
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,019,960
    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
    880,977
    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
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    880,977
    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
    880,977
    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 1,019,960
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 697,951
    b Total for prior years:2018, 2017, 2016  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 880,977
    a Applied to 2019, but not more than line 2a 697,951
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2020 distributable amount..... 183,026
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		836,934
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020.... 0
    Form 990-PF (2020)
    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).)
    Jay Flatley
    Sarah Flatley
    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
    APOE4INFO INC
    946 NW 44TH AVE
    CAMAS,WA98607     		N/A PC General & Unrestricted 5,000
    CATHOLIC SECONDARY EDUCATION- DIOCESE OF SAN DIEGO
    PO BOX 85728
    SAN DIEGO,CA92186     		N/A PC General & Unrestricted 75,000
    CENTER FOR AMERICAN GREATNESS INC
    3104 E CAMELBACK RD 907
    PHOENIX,AZ85016     		N/A PC General & Unrestricted 20,000
    CLAREMONT MCKENNA COLLEGE
    400 N CLAREMONT BLVD
    CLAREMONT,CA91711     		N/A PC General & Unrestricted 250,000
    GOLDMAN SACHS PHILANTHROPY FUND
    200 W ST 15TH FL
    NEW YORK,NY10282     		N/A PC The Flatley Family Fund 200,000
    LEUKEMIA & LYMPHOMA SOCIETY INC
    3 INTERNATIONAL DR STE 200
    RYE BROOK,NY10573     		N/A PC The 2020 Students of the Year campaign for San Diego team abuelos 1,000
    SALK INSTITUTE FOR BIOLOGICAL STUDIES
    10010 N TORREY PINES RD
    LA JOLLA,CA92037     		N/A PC General & Unrestricted 25,000
    SALK INSTITUTE FOR BIOLOGICAL STUDIES
    10010 N TORREY PINES RD
    LA JOLLA,CA92037     		N/A PC The Cancer Center Translational Fund 125,000
    SCRIPPS HEALTH
    PO BOX 2669
    LA JOLLA,CA92038     		N/A PC cardio-vascular programs at Scripps memorial/prebys 10,000
    SEAL-NAVAL SPECIAL WARFARE FOUNDATION-SAN DIEGO
    300 CARLSBAD VILLAGE DR 108A-361
    CARLSBAD,CA92008     		N/A PC General & Unrestricted 10,000
    U C SAN DIEGO FOUNDATION
    9500 GILMAN DR MC 0940
    LA JOLLA,CA92093     		N/A PC Charitable Event 10,000
    UNIVERSITY OF SOUTHERN CALIFORNIA - SCHOOL OF LETT
    1150 S OLIVE ST 25TH FL
    LOS ANGELES,CA90015     		N/A PC General & Unrestricted 100,000
    Total .................................bullet 3a 831,000
    bApproved for future payment
    Total .................................bullet 3b  
    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 3,788  
    4 Dividends and interest from securities....     14 338,455  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 1,026,516  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   1,368,759  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,368,759
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

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

    81-3855993
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    Jay and Sarah Flatley Foundation
          		Employer identification number
    81-3855993
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    Flatley Family Trust
    6725 Calle Ponte Bella
     
    Rancho Santa Fe, CA920910214

    		$ 2,455,750


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

    		$  


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

    		$  


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

    		$  


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

    		$  


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

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    Name of organization
    Jay and Sarah Flatley Foundation
          		Employer identification number

    81-3855993
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 APPLE INC AAPL, 5275 sh. $ 2,455,750 2020-08-19
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    Jay and Sarah Flatley Foundation
          		Employer identification number

    81-3855993
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Additional Data


    Software ID:  
    Software Version:  

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

    TY 2020 DepreciationSchedule
    Name:
    Jay and Sarah Flatley Foundation
    EIN:
    81-3855993
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    Jay and Sarah Flatley Foundation
    EIN:
    81-3855993
    Name of Bond End of Year Book Value End of Year Fair Market Value
    3M CO MTN - 2.250% - 03/15/202 49,967 52,219
    AIR LEASE CORP NOTE CALL - 3.2 35,609 37,474
    AMPHENOL CORP NEW NOTE CALL - 84,137 91,558
    ASIAN DEVELOPMENT BANK - 1.750 74,679 76,950
    BANK AMER CORP - 3.093% - 10/0 75,000 81,189
    BANK NOVA SCOTIA - 0.550% - 09 114,917 115,445
    BANK OF MONTREAL - 2.350% - 09 74,898 77,639
    BAT CAPITAL CORP NOTE - 3.215% 75,000 82,603
    BB&T CORP - 3.050% - 06/20/202 99,996 103,789
    BUNGE LTD FIN CORP NOTE CALL M 69,997 72,346
    CATERPILLER FINL SERVICE - 1.9 49,931 51,394
    CHEVRON - 1.018% - 08/12/2027 104,999 105,515
    CVS HEALTH - 3.875% - 07/20/20 10,572 11,325
    CVS HEALTH CORP - 1.300% - 08/ 74,790 75,348
    EUROPEAN INVT BK BOND - 2.625% 49,743 53,780
    GLAXOSMITHKLINE - 2.850% - 05/ 49,966 51,713
    INTER-AMERICAN - 1.750% - 09/1 69,754 71,873
    JOHN DEERE CAPITAL - 2.150% - 74,848 77,546
    JPMORGAN CHASE & CO - 2.005% - 70,000 73,527
    KIMCO REALTY CORP NOTE CALL MA 69,688 72,299
    KLA-TENCOR SR GLBL NT - 4.650% 79,157 85,367
    MPLX LP - 4.000% - 02/15/2025 52,523 55,878
    NISOURCE - 0.950% - 08/15/2025 74,814 75,453
    PAYPAL HLDGS INC - 2.400% - 10 50,195 53,432
    PAYPAL HOLDINGS INC - 2.200% - 49,937 51,662
    PUBLIC STORAGE - 2.370% - 09/1 50,000 51,680
    SHIRE ACQUISITIONS INVESTMENTS 19,914 20,261
    TOYOTA MOTOR CREDIT CORP - 2.1 49,899 51,558
    VERIZON COMMUNICATIONS INC - 2 101,696 109,576
    VISA INC - 2.150% - 09/15/2022 14,955 15,466
    WELLS FARGO - 3.550% - 09/29/2 110,240 123,232
    ZOETIS INC - 3.250% - 02/01/20 77,960 78,892

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    Jay and Sarah Flatley Foundation
    EIN:
    81-3855993
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ADIDAS AG 12,549 18,299
    ADYEN N.V. 19,364 46,539
    AERCAP HOLDING N.V 14,009 14,905
    AIA GROUP LTD ADR 27,365 41,318
    ALCON INC 13,139 13,724
    ALEXANDRIA REAL ESTATE EQUITIE 4,878 5,347
    ALFA LAVAL AB 9,443 10,875
    ALIBABA GROUP HOLDING LTD 10,843 12,800
    ALLIANZ SE 24,723 26,967
    ALPHABET INC CL A 55,581 78,869
    ALPHABET INC CL C 81,517 119,128
    AMAZON COM 48,024 74,909
    AMBEV SA 17,390 13,574
    AMERICAN HOMES 4 RENT 1,738 1,770
    AMERICAN TOWER REIT INC 2,779 2,694
    ANALOG DEVICES INC 34,545 46,239
    ANTHEM INC 27,279 33,072
    AON PLC CL A 56,217 63,170
    APPLE HOSPITALITY REIT INC 1,803 3,576
    APPLE INC 2,455,749 2,799,758
    ATLAS COPCO AB A SHS ADR 20,587 34,019
    AUTOZONE INC 42,258 48,603
    AVALONBAY CMNTYS INC 9,035 8,984
    BANCO BILBAO ARG SA 25,318 16,722
    BANCO ITAU HOLDING FINANCIERA 19,212 17,667
    BECTON DICKINSON & CO 50,254 51,045
    BERKSHIRE HATHAWAY INC. CLASS 61,430 69,329
    BLACKROCK STRAT INC OPP PORTFO 566,647 601,964
    BOSTON PPTYS INC 10,730 8,886
    BRANDYWINE RLTY TR 2,671 3,132
    BRIXMOR PPTY GROUP INC COM 3,641 5,015
    CAMDEN PPTY TR 5,231 5,795
    CANADIAN NATL RAILWAY CO 8,189 10,765
    CAPITAL ONE FINANCIAL CORP 12,045 17,398
    CARRIER GLOBAL 26,092 40,474
    CHAMPLAIN SMALL COMPANY FUND I 445,014 505,292
    CHECK POINT SOFTWARE TECHNOLOG 21,028 25,253
    CHUGAI PHARMACEUTICAL CO., LTD 9,505 23,621
    CITIGROUP INC 73,890 75,410
    CME GROUP, INC 36,987 37,502
    COLGATE-PALMOLIVE COMPANY 27,545 33,862
    COLUMBIA PROPERTY TRUST INC 3,991 4,058
    COMCAST CORP 70,707 93,220
    CORESITE REALTY CORPORATION 5,518 5,638
    CORP OFFICE PPTY TR 2,881 2,999
    CUBESMART 3,180 3,731
    DASSAULT SYS SA SPN ADR 24,145 34,013
    DB X TRACKERS MSCI EAFE HEDGED 782,670 842,132
    DBS GROUP HLDGS SPON ADR 24,785 28,975
    DFA INTERNATIONAL REAL ESTATE 310,184 281,438
    DFA U.S. SMALL CAP PORTFOLIO 424,251 463,169
    DIAGEO PLC ADS 15,407 15,405
    DIAMONDROCK HOSP CO 4,427 4,356
    DIGITAL RLTY TR INC 8,615 9,347
    DISH NETWORK CORPORATION 22,004 21,183
    DUKE REALTY CORPORATION 11,496 13,790
    ECOLAB INC 21,083 25,747
    EPIROC AB 7,485 14,399
    EQUINIX, INC 14,063 20,711
    EQUITY LIFESTYLE PRP 2,034 2,091
    EQUITY RESIDENTIAL PPTYS TR 10,749 10,611
    ESSENTIAL PROPERTIES REALTY TR 911 1,251
    EXTRA SPACE STORAGE 7,755 9,501
    FACEBOOK INC 45,514 63,919
    FACTSET RESH SYST INC 24,115 29,593
    FANUC LIMITED UNSPONSORED 9,076 10,567
    FOMENTO ECONOMICO MEXICANO 17,820 16,063
    FUCHS PETROLUB SE 5,297 5,855
    GENERAL ELECTRIC CO 48,438 60,383
    GENERAL MOTORS 26,499 30,231
    GOLDMAN SACHS HIGH YIELD FUND 732,577 735,792
    GOLDMAN SACHS TACTICAL TILT OV 1,438,891 1,418,627
    GRACO INC 29,369 43,699
    HDFC BANK LTD ADR 7,803 11,417
    HEALTHPEAK PROPERTIES INC 4,097 4,897
    HEXCEL CP DELAWARE 4,000 3,443
    HILTON WORLDWIDE HOLDINGS, INC 29,670 40,721
    HOST HOTELS & RESORTS INC 4,222 4,886
    ICICI BK LTD ADS 9,703 15,425
    INFINEON TECH ADS 20,978 49,537
    INVITATION HOMES INC. 7,079 11,138
    ISHARES S&P 500 INDEX FD 3,039,969 4,219,007
    JBG SMITH PROPERTIES 4,672 4,753
    JOHCM EMERGING MARKETS OPPORTU 251,080 287,659
    JOHCM INTL SELECT FUND CL I 703,487 930,176
    JOHNSON & JOHNSON 56,804 63,739
    KILROY REALTY CP 2,726 2,583
    KOMATSU LTD 10,996 15,307
    KUBOTA CORPORATION 14,075 18,868
    L'AIR LIQUIDE ADR OTC 7,004 9,933
    L'OREAL ADR 19,215 31,755
    LIBERTY BROADBAND CORPORATION 40,000 68,416
    LINDE PLC COM 42,996 60,871
    LONZA GROUP AG UNSP/ADR 12,386 28,067
    LOWES COMPANIES INC 29,482 43,498
    LYONDELLBASELL INDUSTRIES NV 9,786 13,841
    MARRIOTT INTERNATIONAL INC. CL 56,527 71,764
    MASTERCARD INC 56,977 81,025
    METTLER-TOLEDO INTL 28,034 42,168
    MICROSOFT CORP 149,309 218,194
    MIDDLEBY CORPORATION 31,653 34,551
    MOODYS CORP 61,756 90,265
    MORGAN STANLEY 30,909 49,136
    MSCI INC 32,988 66,086
    NESTLE S.A 18,449 23,678
    NETFLIX INC 22,201 37,310
    NIKE INC-CL B 31,160 50,929
    NOTORI HOLDINGS 7,786 11,840
    NOVOZYMES A/S UNSP/ADR 7,902 8,960
    OIL CO LUKOIL PJSC SPON ADR RE 13,328 10,869
    OMEGA HEALTHCARE INV 2,796 3,341
    ORACLE CORP 36,910 45,089
    OTIS WORLDWIDE CORP 30,711 33,201
    PEAR TREE FOREIGN VALUE FD INS 409,659 502,947
    PEPSICO INC 48,860 58,430
    PIMCO INCOME FUND 580,579 590,638
    PING AN INSURANCE GROUP ADR 14,139 16,023
    PROLOGIS 16,289 20,729
    PUBLIC STORAGE INC 5,415 6,004
    REGENCY CENTERS CORP 9,414 8,662
    RETAIL OPPORTUNITY INVESTMENTS 1,313 1,513
    REXFORD INDUSTRIAL REALTY INC 5,542 7,219
    RIO TINTO PLC SPONSORED ADR 16,596 23,619
    RLJ LODGING TRUST 5,072 5,830
    ROCHE HOLDING LTD ADR 22,884 30,381
    ROYAL DUTCH SHEL PLC SPONS ADR 18,511 12,268
    SAP AKTIENGESELL ADS 30,838 35,596
    SBA COMMUNICATIONS CORP 3,511 3,386
    SCHNEIDER ELEC UNSP/ADR 17,190 26,721
    SGS SA UNSP ADR 7,769 9,183
    SHERWIN-WILLIAMS CO 40,918 63,202
    SHIONOGI & CO LTD 9,153 8,247
    SITE CENTERS CORP 2,716 2,702
    SONOVA HOLDING AG AD 10,272 14,971
    SUN COMMUNITIES INC 3,298 3,495
    SYMRISE AG UNSPONSORED 10,952 18,032
    SYSMEX CORP UNSP ASDR 11,407 19,970
    TAIWAN SEMICONDUCTOR MFG CO LT 19,409 52,121
    TENCENT HOLDINGS LIMITED 17,192 25,737
    TJX COMPANIES INC 34,402 44,457
    UDR INC 12,538 11,952
    UNICHARM CORP - SPN ADR 16,847 24,541
    UNILEVER PLC AMER 15,352 16,780
    UNITEDHEALTH GROUP INC 88,790 119,933
    URBAN EDGE PROPERTIES 1,810 1,747
    US BANCORP 32,141 29,911
    USD CYRUSONE INC 5,586 6,803
    WABTEC 10,850 11,566
    WALT DISNEY HOLDINGS CO 30,024 42,215
    WELLS FARGO & CO 88,057 72,583
    WELLTOWER INC. 6,199 7,044
    WOODWARD INC 8,070 11,302
    YANDEX N V 4,853 9,880

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    Jay and Sarah Flatley Foundation
    EIN:
    81-3855993
    US Government Securities - End of Year Book Value:

    1,767,765
    US Government Securities - End of Year Fair Market Value:

    1,859,101
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2020 InvestmentsOtherSchedule2
    Name:
    Jay and Sarah Flatley Foundation
    EIN:
    81-3855993
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    MILLENNIUM LTD   1,000,000 1,223,195
    MONARCH V SELECT OPPORTUNITIES   55,054 71,292
    TPG TECH ADJACENCIES ACCESS OF   445,638 665,299
    VINTAGE VIII OFFSHORE SCSP   206,209 264,005
    WEST STREET STRATGC SOLUTIONS   125,000 126,415

    TY 2020 OtherExpensesSchedule
    Name:
    Jay and Sarah Flatley Foundation
    EIN:
    81-3855993
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 49,952     49,952
    Bank Charges 541 541    
    State or Local Filing Fees 25     25


    TY 2020 OtherLiabilitiesSchedule
    Name:
    Jay and Sarah Flatley Foundation
    EIN:
    81-3855993
    Description Beginning of Year - Book Value End of Year - Book Value
    OUTSTANDING OPTIONS 15,340 42,436


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    Jay and Sarah Flatley Foundation
    EIN:
    81-3855993
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 82,293 82,293    


    TY 2020 TaxesSchedule
    Name:
    Jay and Sarah Flatley Foundation
    EIN:
    81-3855993
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2020 32,200      
    990-PF Extension for 2019 6,955      
    Foreign Tax Paid 2,978 2,978