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
Michael and Ina Korek Foundation Trust
 
% 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

77-6140213
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$9,412,981J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 128 128  
4 Dividends and interest from securities... 174,953 174,870  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 26,568
b Gross sales price for all assets on line 6a 5,529,647
7 Capital gain net income (from Part IV, line 2)... 33,814
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 -36,766 -4,320  
12 Total. Add lines 1 through 11........ 164,883 204,492  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 58,666     58,666
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 58,349 58,322    
17 Interest............... 426 426    
18 Taxes (attach schedule) (see instructions)... Click to see attachment 4,572 441    
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 53,961 6,032   42,831
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 175,974 65,221   101,497
25 Contributions, gifts, grants paid....... 338,988 338,988
26 Total expenses and disbursements. Add lines 24 and 25 514,962 65,221   440,485
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -350,079
b Net investment income (if negative, enter -0-) 139,271
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......... 230,833 535,984 535,984
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 526,739 Click to see attachment636,728 678,409
b Investments—corporate stock (attach schedule)....... 6,892,176 Click to see attachment5,510,781 6,316,763
c Investments—corporate bonds (attach schedule)....... 445,417 Click to see attachment652,398 752,584
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 474,184 Click to see attachment907,436 1,129,241
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) 8,569,349 8,243,327 9,412,981
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 attachment24,057
23 Total liabilities (add lines 17 through 22)......... 0 24,057
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 8,569,349 8,219,270
29 Total net assets or fund balances (see instructions)..... 8,569,349 8,219,270
30 Total liabilities and net assets/fund balances (see instructions). 8,569,349 8,243,327
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
8,569,349
2
Enter amount from Part I, line 27a .....................
2
-350,079
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
8,219,270
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
8,219,270
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 Passthrough K1 Capital Gain/(Loss)      
c ZSPACE, INC P 2006-06-30 2020-12-31
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 5,529,647   5,436,231 93,416
b       15,398
c     75,000 -75,000
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       93,416
b        
c       -75,000
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 33,814
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 1,936
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 1,936
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 1,936
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 6,009
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 6,009
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 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 4,073
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet2,000 RefundedBullet 11 2,073
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)
    bulletCA
    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
     
    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
    Teresa Babb Managing Trustee
    25.0     		58,666 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Brian Korek Executive Dir
    15.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Alek Dylan Peterlin Trustee
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Brock Peterlin Trustee
    0.0     		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
    Beacon Pointe Wealth Advisors Investment Mgmt 58,349
    900 East Hamilton Ave ste 120
    CAMPBELL,CA95008
    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
    7,171,401
    b
    Average of monthly cash balances.......................
    1b
    448,030
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,116,482
    d
    Total (add lines 1a, b, and c).........................
    1d
    8,735,913
    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
    3,992
    3
    Subtract line 2 from line 1d.........................
    3
    8,731,921
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    130,979
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    8,600,942
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    430,047
    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
    430,047
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    1,936
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,936
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    428,111
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    428,111
    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
    428,111
    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
    440,485
    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
    440,485
    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
    440,485
    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 7 428,111
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 426,651
    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$ 440,485
    a Applied to 2019, but not more than line 2a 426,651
    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..... 13,834
    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 ..........     		414,277
    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).)
    NONE
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    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
    A SAFE PLACE
    PO BOX 23006
    OAKLAND,CA94623     		N/A PC General & Unrestricted 5,000
    AMERICAN BIRD CONSERVANCY
    4249 LOUDOUN AVE BOX 249
    THE PLAINS,VA20198     		N/A PC General & Unrestricted 3,000
    AMERICAN LUNG ASSOCIATION
    55 W WACKER DR STE 1150
    CHICAGO,IL60601     		N/A PC General & Unrestricted 2,000
    ANIMAL LEGAL DEFENSE FUND
    525 E COTATI AVE
    COTATI,CA94931     		N/A PC General & Unrestricted 10,000
    ASSOCIATION OF SMALL FOUNDATIONS DBA EXPONENT PHIL
    1720 N ST NW
    WASHINGTON,DC20036     		N/A PC General & Unrestricted 1,500
    BAT WORLD SANCTUARY
    299 HIGH POINT RD
    WEATHERFORD,TX76088     		N/A PC General & Unrestricted 5,000
    BAY AREA CANCER CONNECTIONS
    2335 EL CAMINO REAL
    PALO ALTO,CA94306     		N/A PC General & Unrestricted 2,000
    CANCER CONTROL SOCIETY
    PO BOX 4651
    MODESTO,CA95352     		N/A PC General & Unrestricted 1,000
    CENTER FOR BIOLOGICAL DIVERSITY INC
    PO BOX 710
    TUCSON,AZ85702     		N/A PC General & Unrestricted 5,000
    CHABAD OF CALIFORNIA
    741 GAYLEY AVE
    LOS ANGELES,CA90024     		N/A PC General & Unrestricted 1,000
    CHAC
    590 W EL CAMINO REAL
    MOUNTAIN VIEW,CA94040     		N/A PC General & Unrestricted 6,000
    CHARITY GLOBAL INC - CHARITY WATER
    40 WORTH ST STE 330
    NEW YORK,NY10013     		N/A PC General & Unrestricted 2,000
    CHEETAH CONSERVATION FUND
    PO BOX 2496
    ALEXANDRIA,VA22301     		N/A PC General & Unrestricted 5,000
    CHILD ADVOCATES OF SILICON VALLEY INC
    509 VALLEY WAY
    MILPITAS,CA95035     		N/A PC General & Unrestricted 5,000
    CITY COLLEGE FUND
    160 CONVENT AVE NO S166
    NEW YORK,NY10031     		N/A PC General & Unrestricted 1,000
    COMMITTEE FOR ACCURACY IN MIDDLE EAST REPORTING IN
    PO BOX 35040
    BOSTON,MA02135     		N/A PC General & Unrestricted 1,000
    COMMONWEALTH CLUB OF CALIFORNIA
    110 THE EMBARCADERO
    SAN FRANCISCO,CA94105     		N/A PC General & Unrestricted 1,000
    COMMUNITY SCHOOL OF MUSIC AND ARTS
    230 SAN ANTONIO CIR
    MOUNTAIN VIEW,CA94040     		N/A PC General & Unrestricted 10,000
    COMMUNITY SERVICES AGENCY
    204 STIERLIN RD
    MOUNTAIN VIEW,CA94043     		N/A PC General & Unrestricted 8,000
    CONGREGATION SHIR HADASH
    20 CHERRY BLOSSOM LN
    LOS GATOS,CA95032     		N/A PC General & Unrestricted 1,000
    CONSUMER REPORTS INC
    PO BOX 96552
    WASHINGTON,DC20090     		N/A PC General & Unrestricted 1,000
    COVENANT HOUSE CALIFORNIA
    1325 N WESTERN AVE
    LOS ANGELES,CA90027     		N/A PC General & Unrestricted 2,000
    EARTHJUSTICE
    50 CALIFORNIA ST SUITE 500
    SAN FRANCISCO,CA94111     		N/A PC General & Unrestricted 5,000
    ENVIRONMENTAL DEFENSE FUND INCORPORATED
    1875 CONNECTICUT AVE NW STE 600
    WASHINGTON,DC20009     		N/A PC General & Unrestricted 1,000
    FAIRWARNING INC
    75 S GRAND AVE
    PASADENA,CA91105     		N/A PC General & Unrestricted 5,000
    FOOTHILL-DE ANZA COMMUNITY COLLEGES FOUNDATION
    12345 S EL MONTE RD
    LOS ALTOS HLS,CA94022     		N/A PC General & Unrestricted 2,000
    GLAUCOMA RESEARCH FOUNDATION
    251 POST ST STE 600
    SAN FRANCISCO,CA94108     		N/A PC General & Unrestricted 4,000
    GREENPEACE FUND INC
    702 H ST NW STE 300
    WASHINGTON,DC20001     		N/A PC General & Unrestricted 5,000
    H E R WEEKEND INC
    PO BOX 77
    WOODLAND HLS,CA91365     		N/A PC General & Unrestricted 2,000
    HIAS INC
    411 5TH AVE 10TH FL
    NEW YORK,NY10016     		N/A PC General & Unrestricted 1,000
    HONEST REPORTING COM INC
    165 E 56TH ST 2ND FL
    NEW YORK,NY10022     		N/A PC General & Unrestricted 1,000
    HOOPS FOR HOPE INC
    PO BOX 895
    EAST HAMPTON,NY11937     		N/A PC General & Unrestricted 5,000
    HOPE FOR PAWS
    8950 W OLYMPIC BLVD 525
    LOS ANGELES,CA90211     		N/A PC General & Unrestricted 4,000
    IEEE FOUNDATION INC
    445 HOES LN
    PISCATAWAY,NJ08854     		N/A PC General & Unrestricted 1,000
    INSTITUTE OF NOETIC SCIENCES
    101 SAN ANTONIO RD
    PETALUMA,CA94952     		N/A PC General & Unrestricted 1,000
    INTERNATIONAL PLANNED PARENTHOOD FEDERATION
    125 MAIDEN LANE 9TH FL
    NEW YORK,NY10038     		N/A PC General & Unrestricted 5,000
    JEWISH FAMILY & CHILDRENS SERVICES
    PO BOX 159004
    SAN FRANCISCO,CA94115     		N/A PC General & Unrestricted 1,000
    JEWISH FEDERATION OF SILICON VALLEY
    14855 OKA RD
    LOS GATOS,CA95032     		N/A PC General & Unrestricted 1,000
    JEWISH NATIONAL FUND-KEREN KAYEMETH LEISRAEL INC
    42 EAST 69TH ST
    NEW YORK,NY10021     		N/A PC General & Unrestricted 1,000
    KARMA CAT RESCUE
    346 PAUL AVE
    MOUNTAIN VIEW,CA94041     		N/A PC General & Unrestricted 3,000
    KIDNEY CANCER ASSOCIATION
    9450 SW GEMINI DR 38269
    BEAVERTON,OR97008     		N/A PC General & Unrestricted 1,000
    MALIHEH FREE CLINIC
    941 E 3300 S
    MILLCREEK,UT84106     		N/A PC General & Unrestricted 1,000
    MARINE MAMMAL CENTER
    2000 BUNKER RD FORT CRONKHITE
    SAUSALITO,CA94965     		N/A PC General & Unrestricted 5,000
    MARS SOCIETY INC
    11111 W 8TH AVE
    LAKEWOOD,CO80215     		N/A PC General & Unrestricted 1,000
    MEDECINS SANS FRONTIERES USA INC - DOCTORS WITHOUT
    PO BOX 5030
    HAGERSTOWN,MD21741     		N/A PC General & Unrestricted 2,000
    MENTOR TUTOR CONNECTION
    PO BOX 1473
    LOS ALTOS,CA94023     		N/A PC General & Unrestricted 4,000
    MONTEREY BAY AQUARIUM FOUNDATION
    886 CANNERY ROW
    MONTEREY,CA93940     		N/A PC General & Unrestricted 2,000
    MOTHERS AGAINST DRUNK DRIVING
    511 E JOHN CARPENTER FREEWAY STE 70
    IRVING,TX75062     		N/A PC Northern California Boating Under the influence program 20,000
    NATIONAL ASSOCIATION OF STATE BOATING LAW ADMINIST
    1020 MONARCH ST STE 200
    LEXINGTON,KY40513     		N/A PC Operation Dry Water Campaign 5,000
    NATIONAL ASSOCIATION OF STATE BOATING LAW ADMINIST
    1020 MONARCH ST STE 200
    LEXINGTON,KY40513     		N/A PC Korek BUI PSA Project 48,488
    NATURAL RESOURCES DEFENSE COUNCIL INC
    40 WEST 20TH ST 11TH FLOOR
    NEW YORK,NY10011     		N/A PC General & Unrestricted 7,000
    NIKE ANIMAL RESCUE FOUNDATION
    5463 SHERIDAN RD
    SUNOL,CA94586     		N/A PC General & Unrestricted 4,000
    ONE CHILD
    1900 MOWRY AVE STE 103
    FREMONT,CA94538     		N/A PC General & Unrestricted 4,000
    PALACE OF FINE ARTS LEAGUE INC
    3301 LYON ST
    SAN FRANCISCO,CA94123     		N/A PC General & Unrestricted 2,000
    PATHWAYS HOME HEALTH AND HOSPICE
    585 N MARY AVE
    SUNNYVALE,CA94085     		N/A PC General & Unrestricted 2,000
    PAWS FOR PURPLE HEARTS
    10201 OLD REDWOOD HWY
    PENNGROVE,CA94951     		N/A PC General & Unrestricted 2,000
    PENINSULA HUMANE SOCIETY & SPCA
    1450 ROLLINS RD
    BURLINGAME,CA94010     		N/A PC General & Unrestricted 5,000
    PEOPLE FOR THE AMERICAN WAY FOUNDATION
    1101 15TH ST NW STE 600
    WASHINGTON,DC20005     		N/A PC General & Unrestricted 2,000
    PERFORMING ANIMAL WELFARE SOCIETY
    PO BOX 849
    GALT,CA95632     		N/A PC General & Unrestricted 5,000
    PETS IN NEED
    871 5TH AVE
    REDWOOD CITY,CA94063     		N/A PC General & Unrestricted 5,000
    PHYSICIANS FOR SOCIAL RESPONSIBILITY INC
    1111 14TH ST NW STE 700
    WASHINGTON,DC20005     		N/A PC General & Unrestricted 1,000
    POPULATION CONNECTION
    2120 L NW ST
    WASHINGTON,DC20037     		N/A PC General & Unrestricted 1,000
    PROSTATE CANCER RESEARCH INSTITUTE
    300 CORPORATE POINTE STE 383
    CULVER CITY,CA90230     		N/A PC General & Unrestricted 1,000
    SAN FRANCISCO AIDS FOUNDATION
    1035 MARKET ST SUITE 400
    SAN FRANCISCO,CA94103     		N/A PC General & Unrestricted 1,000
    SAN FRANCISCO BAY BIRD OBSERVATORY
    524 VALLEY WAY
    MILPITAS,CA95035     		N/A PC General & Unrestricted 1,000
    SECOND HARVEST OF SILICON VALLEY
    4001 N 1ST ST
    SAN JOSE,CA95134     		N/A PC General & Unrestricted 10,000
    SIERRA CLUB FOUNDATION
    2101 WEBSTER ST STE 1250
    OAKLAND,CA94612     		N/A PC General & Unrestricted 10,000
    SILICON VALLEY JEWISH FILM FESTIVAL
    PO BOX 2190
    CUPERTINO,CA95015     		N/A PC General & Unrestricted 1,000
    SMART LIFE FORUM INC
    1745 PACIFIC AVE 504
    SAN FRANCISCO,CA94109     		N/A PC General & Unrestricted 4,000
    SOLAR COOKERS INTERNATIONAL
    2400 22ND ST
    SACRAMENTO,CA95818     		N/A PC General & Unrestricted 2,000
    TAWONGA JEWISH COMMUNITY CORPORATION
    131 STEUART ST STE 460
    SAN FRANCISCO,CA94105     		N/A PC General & Unrestricted 3,000
    THE DIAN FOSSEY GORILLA FUND INTERNATIONAL
    800 CHEROKEE AVE SE
    ATLANTA,GA30315     		N/A PC General & Unrestricted 1,000
    THE ELEPHANT SANCTUARY IN TENNESSEE
    PO BOX 393
    HOHENWALD,TN38462     		N/A PC General & Unrestricted 10,000
    THE HEALTH TRUST
    3180 NEWBERRY DRIVE STE 200
    SAN JOSE,CA95118     		N/A PC General & Unrestricted 10,000
    THE MANKIND PROJECT
    PO BOX 383
    KAYSVILLE,UT84037     		N/A PC MKP USA Marketing - Program OnBoarding and development with focus on cultural training and racial justice 15,000
    THE TECH INTERACTIVE
    201 S MARKET ST
    SAN JOSE,CA95113     		N/A PC General & Unrestricted 2,000
    THEATREWORKS SILICON VALLEY
    350 TWIN DOLPHIN DR STE 127
    REDWOOD CITY,CA94065     		N/A PC General & Unrestricted 2,000
    UTILITY REFORM NETWORK
    268 BUSH ST
    SAN FRANCISCO,CA94104     		N/A PC General & Unrestricted 1,000
    VIETNAM VETERANS OF CALIFORNIA INC
    PO BOX 378
    SANTA ROSA,CA95402     		N/A PC General & Unrestricted 1,000
    WILDERNESS SOCIETY
    1615 M ST NW STE 200
    WASHINGTON,DC20036     		N/A PC General & Unrestricted 2,000
    WILDLIFE CONSERVATION NETWORK INC
    209 MISSISSIPPI ST
    SAN FRANCISCO,CA94107     		N/A PC General & Unrestricted 5,000
    YOUNG MENS CHRISTIAN ASSOCIATION SILICON VALLEY
    80 SARATOGA AVE
    SANTA CLARA,CA95051     		N/A PC General & Unrestricted 1,000
    Total .................................bullet 3a 338,988
    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 ...........     		    14 128  
    4 Dividends and interest from securities.... 525990 83 14 174,870  
    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 26,568  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aK-1 Inc/Loss     		525990 -32,446 14 -4,320  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. -32,363 197,246  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    164,883
    (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

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

    TY 2020 DepreciationSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    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:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AEQUITAS COMMERCIAL FINANCE LL 215,358 250,000
    ANDEAVOR NOTE - 4.750% - 12/15 10,445 11,070
    BARCLAYS BANK PLC - 0.000% - 0 350,000 412,999
    FIRST NIAGARA FINL GP BOND - 7 11,784 10,637
    HIGHWOODS RLTY LP NOTE BOND - 9,933 10,414
    LEHMAN BRTHRS HLDGS - 0.000% -    
    MARSHFIELD CLINIC HLTH SYS INC 15,085 15,721
    OCCIDENTAL COLLEGE - 3.015% - 30,010 30,854
    TEMECULA CALIF REDEV AGY REF 9,783 10,889

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ACCENTURE PLC 13,213 18,285
    AFFILIATED MANAGERS GROUP 61,609 85,021
    AGNICO EAGLE MINES LTD 26,735 40,191
    ALLEGHANY CP 21,177 24,148
    ALPHABET INC CL A 10,508 15,774
    ALPHABET INC CL C 10,506 15,767
    BARRICK GOLD CORPORATION 24,209 33,487
    BERKSHIRE HATHAWAY INC. CLASS 114,333 163,932
    CALL - SPXW @ 3975 - 1/8/2021 3,788 183
    CENTURY LINK INC D/B/A LUMEN T 91,823 64,028
    CERNER CORPORATION 31,077 42,379
    CHARLES SCHWAB CORP 10,354 15,116
    CHEVRON CORP 45,794 56,159
    CISCO SYSTEMS INC 25,820 29,759
    CITIGROUP INC 76,728 89,962
    COHO RELATIVE VALUE EQUITY FUN 563,628 656,071
    COMCAST CORP 16,117 23,318
    COSTCO WHOLESALE CORPORATION 10,816 15,071
    DIAGEO PLC ADS 17,237 22,233
    DOMINION ENERGY INC 19,267 22,184
    DOUBLELINE CORE FIXED INCOME I 167,482 174,394
    DOUBLELINE TOTAL RETURN BOND 457,688 455,738
    EQUITY COMMONWEALTH 37,543 33,964
    EXPEDITORS INTL WASH INC 8,541 12,364
    FACEBOOK INC 9,159 10,926
    FAIRFAX FINL HLDGS LTD 82,286 76,371
    FASTENAL COMPANY 4,039 6,592
    FIRST EAGLE GLOBAL FUND CLASS 636,511 710,021
    GENERAL MOTORS 61,831 88,943
    GQG PARTNERS EMERGING MARKETS 398,350 558,015
    GRAHAM HOLDINGS COMPANY 10,076 13,335
    GRIFFIN INSTITUTIONAL ACCESS R 222,649 224,570
    GROUPE DANONE ADS 63,367 66,711
    GUIDEWIRE SOFTWARE INC 10,837 16,735
    HOME DEPOT INC 13,019 17,265
    INGREDION INC 31,405 32,648
    JOHNSON & JOHNSON 40,508 68,932
    JONES LANG LASALLE 14,190 20,772
    JP MORGAN CHASE 44,546 62,264
    KIRKLAND LAKE GOLD LTD 13,651 14,032
    LIBERTY GLOBAL PLC - SERIES C 76,411 67,024
    LIBERTY LATIN AMERICA (FORMERL 5,946 2,529
    LOEWS CORP 58,646 53,799
    LORD ABBETT HIGH YIELD FD CL I 379,615 464,554
    MAGNA INTERNATIONAL INC 62,204 111,935
    MEDTRONIC PLC 18,095 22,842
    MICROSOFT CORP 4,904 26,690
    PAN AMERICAN SILVER CORP 15,356 18,118
    PAYPAL HOLDINGS, INC 8,384 18,736
    PFIZER INC 30,180 34,970
    PIONEER ILS INTERVAL FUND 336,012 334,928
    PNC FINANCIAL GROUP INC 11,777 14,155
    POWER CORPORATION OF CANADA 60,973 76,373
    PUT - SPXW @ 3100 - 1/8/2021 6,290 807
    RESOLUTE FOREST PRODUCTS INC 22,306 18,940
    SPDR BARCLAYS CAPITAL 1-3 MONT 40,363 40,360
    SPROTT PHYSICAL GOLD TRUST 264,489 357,633
    SPX FLOW INC 21,664 38,891
    STARBUCKS CORP COM 12,381 21,396
    STONE RIDGE REINSURANCE RISK P 77,914 67,660
    T. ROWE PRICE GROUP 11,052 15,896
    TJX COMPANIES INC 10,353 16,731
    TRAVELERS COMPANIES INC 24,577 31,583
    UNILEVER PLC AMER 18,693 22,031
    UNITEDHEALTH GROUP INC 24,059 33,315
    VERSUS CAPITAL MULTI MNGR REAL 214,364 207,024
    VIATRIS ORD SHS 1,645 2,193
    VISA INC 9,651 12,030
    VODAFONE GROUP PLC 160,060 85,960

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    US Government Securities - End of Year Book Value:

     
    US Government Securities - End of Year Fair Market Value:

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


    636,728
    State & Local Government Securities - End of Year Fair Market Value:


    678,409


    TY 2020 InvestmentsOtherSchedule2
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BGV IV, LP   19,896 19,682
    BGV OPPORTUNITY FUND, L.P   147,286 214,846
    PARTNERS GROUP PRIVATE EQUITY   440,025 486,039
    REDWOOD-KAIROS REAL ESTATE VAL   300,229 408,674

    TY 2020 OtherExpensesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 41,981     41,981
    Bank Charges 343 343    
    Foundation Dues & Memberships 765     765
    K-1 Exp BGV IV, LP 5,217 127    
    K-1 Exp BGV OPPORTUNITY FUND, 5,560 5,560    
    K-1 Exp REDWOOD-KAIROS REAL ES 10 2    
    State or Local Filing Fees 85     85


    TY 2020 OtherIncomeSchedule2
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss BGV IV, LP 41 41  
    K-1 Inc/Loss BGV OPPORTUNITY FUND, L.P 2,138 2,138  
    K-1 Inc/Loss REDWOOD-KAIROS REAL ESTATE VALUE FUND -38,945 -6,499  


    TY 2020 OtherLiabilitiesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Description Beginning of Year - Book Value End of Year - Book Value
    OUTSTANDING OPTIONS   24,057


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 58,349 58,322    


    TY 2020 TaxesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2020 1,200      
    990-PF Extension for 2019 2,931      
    Foreign Tax Paid 441 441