Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
TRUST FUNDS INCORPORATED
 
Number and street (or P.O. box number if mail is not delivered to street address)1104 CORPORATE WAY
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SACRAMENTO, CA95831
A Employer identification number

94-6062952
B Telephone number (see instructions)

(916) 395-4472
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$10,227,118J 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) 3,000
2 Check bullet.............
3 Interest on savings and temporary cash investments 263 263  
4 Dividends and interest from securities... 82,024 82,024  
5a Gross rents............ 309,704 309,704  
b Net rental income or (loss) 249,215
6a Net gain or (loss) from sale of assets not on line 10 -411
b Gross sales price for all assets on line 6a 1,322,430
7 Capital gain net income (from Part IV, line 2)...  
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........ 394,580 391,991  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 59,714 6,044   42,277
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 6,446 645   4,512
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 19,255 17,329   963
c Other professional fees (attach schedule).... Click to see attachment 29,572 29,572    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 3,826      
19 Depreciation (attach schedule) and depletion... Click to see attachment 20,467 20,467  
20 Occupancy.............. 9,130 913   6,391
21 Travel, conferences, and meetings....... 909 20   889
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 44,821 42,448   1,867
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 194,140 117,438   56,899
25 Contributions, gifts, grants paid....... 437,500 437,500
26 Total expenses and disbursements. Add lines 24 and 25 631,640 117,438   494,399
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -237,060
b Net investment income (if negative, enter -0-) 274,553
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............. 25,631 78,586 78,586
2 Savings and temporary cash investments......... 82,123 149,222 149,222
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..........   2,184 2,184
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 3,100,154 Click to see attachment2,679,361 3,845,004
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet1,305,007
Less: accumulated depreciation (attach schedule) bullet573,263 678,248 Click to see attachment731,744 6,093,000
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........   Click to see attachment50,750 55,520
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment6,814 Click to see attachment3,602 Click to see attachment3,602
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,892,970 3,695,449 10,227,118
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 attachment53,528 Click to see attachment93,067
23 Total liabilities (add lines 17 through 22)......... 53,528 93,067
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........ 3,348,099 3,348,099
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 491,343 254,283
29 Total net assets or fund balances (see instructions)..... 3,839,442 3,602,382
30 Total liabilities and net assets/fund balances (see instructions). 3,892,970 3,695,449
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
3,839,442
2
Enter amount from Part I, line 27a .....................
2
-237,060
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
3,602,382
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
3,602,382
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 1078.361 DODGE & COX INCOME FD P 2019-06-18 2020-01-31
b 2130.682 DODGE & COX INCOME FD P 2019-11-11 2020-01-31
c 15000 FIDELITY FUNDS FIDELITY TREASURY PORT P 2019-11-11 2020-01-31
d 3202.391 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2015-10-09 2020-01-31
e 78.033 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2015-12-23 2020-01-31
41.969 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2015-12-23 2020-01-31
1242.236 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2016-11-02 2020-01-31
57.287 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2016-12-23 2020-01-31
3.447 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2016-12-23 2020-01-31
.537 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2016-12-23 2020-01-31
200.860 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2017-12-22 2020-01-31
59.915 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2017-12-22 2020-01-31
4.563 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2017-12-22 2020-01-31
366.920 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2018-12-21 2020-01-31
98.730 AMERICAN BEACON FDS BRIDGEWAY LARGE CAP P 2018-12-21 2020-01-31
6651.864 DODGE & COX INCOME FD P 2017-01-26 2020-01-31
25000 GOLDMAN SACHS TR FINL SQUARE TREAS INSTR P 2019-11-11 2020-02-28
50000 GOLDMAN SACHS TR FINL SQUARE TREAS INSTR P 2020-02-13 2020-02-28
1187.648 ASHMORE FDS EMERGING MKTS CORP DEBT FD P 2020-01-31 2020-03-19
279.330 JANUS HENDERSON FUNDS ENTERPRISE FD CL I P 2020-01-31 2020-03-27
9168.704 ASHMORE FDS EMERGING MKTS CORP DEBT FD P 2019-01-18 2020-03-19
10692.527 EATON VANCE SER II INCOME FUND BOSTON P 2016-08-08 2020-03-10
7172.336 EATON VANCE FLOATING RATE FUND CLASS I P 2017-12-06 2020-03-13
1197.286 JANUS HENDERSON FUNDS ENTERPRISE FD CL I P 2016-08-08 2020-03-27
22.875 JANUS HENDERSON FUNDS ENTERPRISE FD CL I P 2016-12-20 2020-03-27
25.400 JANUS HENDERSON FUNDS ENTERPRISE FD CL I P 2017-12-20 2020-03-27
76.062 JANUS HENDERSON FUNDS ENTERPRISE FD CL I P 2018-12-19 2020-03-27
2190.362 JPMORGAN TRUST I EMERGING MARKETS EQUITY P 2019-07-01 2020-04-02
733.138 VICTORY TRIVALENT INTERNATIONAL SMALLCAP P 2019-11-06 2020-04-22
465.896 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2015-10-16 2020-04-22
807.754 JPMORGAN MID CAP VALUE FUND CL L P 2017-01-26 2020-04-22
4492.363 VICTORY TRIVALENT INTERNATIONAL SMALLCAP P 2016-05-02 2020-04-22
2747.253 VICTORY TRIVALENT INTERNATIONAL SMALLCAP P 2016-05-06 2020-04-22
229.008 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2020-03-19 2020-05-22
15000 GOLDMAN SACHS TR FINL SQUARE TREAS INSTR P 2020-02-13 2020-05-22
9.272 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2011-12-08 2020-05-22
232.666 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2012-06-20 2020-05-22
45.678 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2012-12-06 2020-05-22
2.397 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2012-12-06 2020-05-22
418.585 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2013-02-08 2020-05-22
99.144 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2013-12-06 2020-05-22
25.146 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2013-12-06 2020-05-22
94.710 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2014-12-05 2020-05-22
25.469 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2014-12-05 2020-05-22
87.276 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2015-12-11 2020-05-22
12.121 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2015-12-11 2020-05-22
62.188 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2016-12-12 2020-05-22
178.448 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2017-12-12 2020-05-22
29.417 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2017-12-12 2020-05-22
256.342 GOLDMAN SACHS SMALL CAP VALUE FUND INST P 2018-12-12 2020-05-22
50000 JPMORGAN 100% TREASURY SECURITIES MNT MK P 2020-05-13 2020-08-28
9211.496 THORNBURG INCOME TR LTD TERM INC FD CL I P 2019-11-11 2020-08-07
35000 GOLDMAN SACHS TR FINL SQUARE TREAS INSTR P 2020-02-13 2020-09-03
50000 JPMORGAN 100% TREASURY SECURITIES MNT MK P 2020-05-13 2020-12-04
50 AMERICAN TOWER CORP REIT P 2015-10-19 2020-12-04
LEHMAN BROS HLDGS P 2010-01-01 2020-04-02
LEHMAN BROS HLDGS P 2010-01-01 2020-10-01
CAPITAL GAINS DISTRIBUTIONS P 2010-01-01 2020-12-01
ROOF P 2000-10-01 2020-06-26
(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 15,367   15,000 367
b 30,362   30,000 362
c 15,000   15,000  
d 83,582   75,000 8,582
e 2,037   1,769 268
1,095   951 144
32,422   30,000 2,422
1,495   1,509 -14
90   91 -1
14   14  
5,243   5,743 -500
1,564   1,713 -149
119   130 -11
9,577   8,127 1,450
2,577   2,187 390
94,789   90,598 4,191
25,000   25,000  
50,000   50,000  
7,672   10,000 -2,328
29,813   40,000 -10,187
59,230   75,000 -15,770
56,563   59,991 -3,428
58,526   64,551 -6,025
127,786   113,862 13,924
2,442   2,212 230
2,711   3,018 -307
8,118   8,388 -270
55,000   67,332 -12,332
7,933   10,000 -2,067
16,591   25,000 -8,409
23,166   30,000 -6,834
48,607   50,000 -1,393
29,725   30,000 -275
8,886   7,500 1,386
15,000   15,000  
360   374 -14
9,027   10,000 -973
1,772   1,975 -203
93   104 -11
16,241   20,000 -3,759
3,847   5,388 -1,541
976   1,367 -391
3,675   5,156 -1,481
988   1,387 -399
3,386   4,421 -1,035
470   614 -144
2,413   3,824 -1,411
6,924   10,691 -3,767
1,141   1,762 -621
9,946   12,758 -2,812
50,000   50,000  
130,619   125,000 5,619
35,000   35,000  
50,000   50,000  
11,344   4,828 6,516
7     7
8     8
56,091     56,091
  13,864 27,370 -13,506
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       367
b       362
c        
d       8,582
e       268
      144
      2,422
      -14
      -1
       
      -500
      -149
      -11
      1,450
      390
      4,191
       
       
      -2,328
      -10,187
      -15,770
      -3,428
      -6,025
      13,924
      230
      -307
      -270
      -12,332
      -2,067
      -8,409
      -6,834
      -1,393
      -275
      1,386
       
      -14
      -973
      -203
      -11
      -3,759
      -1,541
      -391
      -1,481
      -399
      -1,035
      -144
      -1,411
      -3,767
      -621
      -2,812
       
      5,619
       
       
      6,516
      7
      8
      56,091
      -13,506
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 -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 -19,180
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 3,816
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 3,816
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 3,816
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 6,000
b Exempt foreign organizations—tax withheld at source...... 6b  
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 6,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 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 2,184
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet2,184 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)
    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 addressbulletN/A
    14
    The books are in care ofbulletJAMES T HEALY Telephone no.bullet (916) 395-4472

    Located atbullet1104 CORPORATE WAYSACRAMENTOCA ZIP+4bullet958313875
    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
    JAMES T HEALY President
    20.00     		56,964    
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    THOMAS F KUBASAK CFO
    6.00     		1,250    
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    MARY HUDLER Director
    2.00     		500    
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    LIZ KELLEY Director
    2.00     		500    
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    JOHN STRAIN Secretary
    2.00     		500    
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    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
    NONE
    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
    3,594,863
    b
    Average of monthly cash balances.......................
    1b
    246,683
    c
    Fair market value of all other assets (see instructions)................
    1c
    6,093,000
    d
    Total (add lines 1a, b, and c).........................
    1d
    9,934,546
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    9,934,546
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    149,018
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    9,785,528
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    489,276
    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
    489,276
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    3,816
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    3,816
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    485,460
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    485,460
    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
    485,460
    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
    494,399
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    494,399
    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
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    494,399
    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 7 485,460
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 11,382
    b From 2016......  
    c From 2017...... 314
    d From 2018...... 15,979
    e From 2019...... 19,009
    fTotal of lines 3a through e........ 46,684
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 494,399
    a Applied to 2019, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 485,460
    e Remaining amount distributed out of corpus 8,939
    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 55,623
    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 ..........     		0
    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) ...     		11,382
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		44,241
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017.... 314
    c Excess from 2018.... 15,979
    d Excess from 2019.... 19,009
    e Excess from 2020.... 8,939
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    JAMES T HEALY PRESIDENT
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    (916) 395-4472
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATION FORM FOR CATHOLIC ELEMENTARY AND HIGH SCHOOLS - GRANTS FOR SPECIFIC PURPOSES SUCH AS TEXTBOOKS, AUDIO-VISUAL EQUIPMENT, RELIGIOUS EDUCATION MATERIAL, TUITION ASSISTANCE, COMPUTERS, SOFTWARE, CLASSROOM FURNITURE, AS WELL AS SPECIFIC DATA ABOUT THE SCHOOL. A DIFFERENT APPLICATION FORM IS REQUIRED FROM OTHER APPLICANTS REQUESTING A COMPREHENSIVE DESCRIPTION OF THE NEED AND SPECIFIC DATA OF THE APPLICANTS ORGANIZATION.
    cAny submission deadlines:
    QUARTERLY DEADLINES FOR APPLICATION SUBMISSIONS.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    SAN FRANCISCO BAY AREA AND CATHOLIC CHARITIES ARE FAVORED.
    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
    ST ANTHONY-IMMACULATE CONCEPTION SC
    299 PRECITA AVENUE
    SAN FRANCISCO,CA94110     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    HOME HOPE
    1720 EL CAMINO REAL SUITE 7
    BURLINGAME,CA94010     		N/A PUB CHRTY SERVICES FOR HOMELESS FAMILIES 12,500
    NOTRE DAME HIGH SCHOOL
    596 S 2ND STREET
    SAN JOSE,CA95112     		N/A PUB CHRTY TUITION ASSISTANCE 7,500
    ST THOMAS MORE SCHOOL
    50 THOMAS MORE WAY
    SAN FRANCISCO,CA94132     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    PATIENTS' RIGHTS COUNCIL
    PO BOX 760
    STEUBENVILLE,OH43952     		N/A PUB CHRTY RESEARCH, WRITING AND SPEAKING ACTIVITIES ON THE SACREDNESS OF HUMAN LIFE 10,000
    ST JOSEPH NOTRE DAME HIGH SCHOOL
    1011 CHESTNUT STREET
    ALAMEDA,CA94501     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    ST VINCENT DE PAUL ELEMENTARY SCHOO
    246 HOWARD STREET
    PETALUMA,CA94952     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    ST VINCENT DE PAUL HIGH SCHOOL
    849 KEOKUK STREET
    PETALUMA,CA94952     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    OUR LADY OF REFUGE SCHOLARSHIPS
    204 MORE AVENUE
    LOS GATOS,CA95032     		N/A PUB CHRTY SCHOLARSHIPS FOR HIGH SCHOOL GRADUATES 12,500
    FREE TO BE
    1180 FOURTH STREET STE B
    SANTA ROSA,CA95404     		N/A PUB CHRTY PROGRAMS FOR YOUTH: HEALTHY CHOICES 10,000
    BISHOP O'DOWD HIGH SCHOOL
    9500 STEARNS AVENUE
    OAKLAND,CA94605     		N/A PUB CHRTY TUITION ASSISTANCE 7,500
    DOROTHY DAY HOUSE BERKELEY
    PO BOX 12701
    BERKELEY,CA94712     		N/A PUB CHRTY FOOD FOR HOMELESS PEOPLE 10,000
    ST FRANCIS CENTER
    151 BUCKINGHAM AVENUE
    REDWOOD CITY,CA94063     		N/A PUB CHRTY MUSICAL INSTRUMENTS FOR VERY LOW INCOME FAMILIES 5,000
    ST EDWARD SCHOOL
    5788 THORNTON AVENUE BLDG D
    NEWARK,CA94560     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    VILLA SIENA FOUNDATION
    1855 MIRAMONTE AVENUE
    MOUNTAIN VIEW,CA94040     		N/A PUB CHRTY FUNDING FOR NEEDY RESIDENTS 5,000
    OUR LADY OF GUADALUPE SCHOOL
    40374 FREMONT BLVD
    FREMONT,CA94538     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    ST VINCENT DE PAUL SOCIETY
    1175 HOWARD STREET
    SAN FRANCISCO,CA94103     		N/A PUB CHRTY DOMESTIC VIOLENCE PROGRAM 5,000
    ST JAMES CATHOLIC SCHOOL
    321 FAIR OAKS STREET
    SAN FRANCISCO,CA94110     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    HOLY NAME OF JESUS SCHOOL
    1560 40TH AVENUE
    SAN FRANCISCO,CA94122     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    CARE THROUGH TOUCH INSTITUTE
    240 GOLDEN GATE AVENUE 206
    SAN FRANCISCO,CA94102     		N/A PUB CHRTY SERVICE TO UNSHELTERED AND NEEDY 10,000
    ST PATRICK SCHOOL
    51 NORTH 9TH STREET
    SAN JOSE,CA95112     		N/A PUB CHRTY BUILDING MAINTENANCE AND/OR TUITION ASSISTANCE 5,000
    TOTUS TUUS
    1724 N HIGHLAND AVENUE APT 626
    LOS ANGELES,CA90028     		N/A PUB CHRTY DISTRIBUTION OF RELIGIOUS BOOKLETS AND PRAYER CARDS 5,000
    THE MARIANISTS
    618 CRESTMOOR DRIVE
    SAN JOSE,CA95129     		N/A PUB CHRTY FUNDING FOR THE MARIANIST CARE CENTER, CUPERTINO, CA 12,500
    GOD SQUAD PRODUCTIONS
    ONE PETER YORKE WAY
    SAN FRANCISCO,CA94109     		N/A PUB CHRTY TELEVISED CATHOLIC MASSES 10,000
    HOLY FAMILY DAY HOME
    299 DOLORES STREET
    SAN FRANCISCO,CA94103     		N/A PUB CHRTY CHILD CARE & EARLY CHILDHOOD EDUCATION 10,000
    CATHOLIC CHARITIES OF THE EAST BAY
    433 JEFFERSON STREET
    OAKLAND,CA94607     		N/A PUB CHRTY FAMILY LITERACY PROGRAM 12,500
    SALESIAN COLLEGE PREPARATORY
    2851 SALESIAN AVENUE
    RICHMOND,CA94804     		N/A PUB CHRTY TUITION ASSISTANCE 15,000
    ST AGNES CATHOLIC SCHOOL
    3886 CHESTNUT AVENUE
    CONCORD,CA94519     		N/A PUB CHRTY CHROME BOOKS FOR REMOTE LEARNING & FUTURE CLASS INSTRUCTION 12,500
    CRISTO REY DE LA SALLE EAST BAY HS
    1530 34TH AVENUE
    OAKLAND,CA94601     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    ST PETER'S SCHOOL
    1266 FLORIDA STREET
    SAN FRANCISCO,CA94110     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    MERCY'S CHARITABLE CARE FUND
    3431 FOOTHILL BOULEVARD
    OAKLAND,CA94601     		N/A PUB CHRTY COVID-19 SUPPLIES 8,000
    SOCIETY OF ST VINCENT DE PAUL OF SO
    PO BOX 1095
    RHONERT PARK,CA94927     		N/A PUB CHRTY FIRE VICTIMS 20,000
    NOTRE DAME HIGH SCHOOL
    1540 RALSTON AVENUE
    BELMONT,CA94002     		N/A PUB CHRTY TUITION ASSISTANCE 15,000
    TURLOCK PREGNANCY HEALTH CENTER
    134 REGIS STREET
    TURLOCK,CA95382     		N/A PUB CHRTY ONE NEW NURSE & STAFF TRAINING 12,000
    OUR LADY OF MERCY SCHOOL
    7 ELMWOOD DRIVE
    DALY CITY,CA94015     		N/A PUB CHRTY TUITION ASSISTANCE 14,000
    SOCIETY OF ST VINCENT DE PAUL SACTO
    PO BOX 162487
    SACRAMENTO,CA95816     		N/A PUB CHRTY SUPPORT FOR THE NEEDY 15,000
    BERKELEY FOOD HOUSING PROJECT
    3225 ADELINE STREET
    BERKELEY,CA94703     		N/A PUB CHRTY MEALS PROGRAM FOR NEEDY 10,000
    SACRED HEART CATHEDRAL PREPARATORY
    1055 ELLIS STREET
    SAN FRANCISCO,CA94109     		N/A PUB CHRTY KAIROS RETREAT PROGRAM 10,000
    ST PETER'S SCHOOL
    1266 FLORIDA STREET
    SAN FRANCISCO,CA94110     		N/A PUB CHRTY SCHOOL SUPPORT 5,000
    SOCIETY OF ST VINCENT DE PAUL SONOM
    PO BOX 1095
    RHONERT PARK,CA94927     		N/A PUB CHRTY FIRE RECOVERY PROGRAM 10,000
    ST VINCENT DE PAUL SOCIETY SF
    1175 HOWARD STREET
    SAN FRANCISCO,CA94103     		N/A PUB CHRTY SUPPORT OF THE NEEDY 10,000
    DOMINICAN MISSIONARIES- DEAF APOSTO
    411 LOCUST DRIVE
    UTICA,NY13502     		N/A PUB CHRTY SUPPORT FOR SEMINARIANS 5,000
    SACRAMENTO LOAVES FISHES
    PO BOX 13495
    SACRAMENTO,CA95813     		N/A PUB CHRTY SUPPORT FOR THE NEEDY 6,000
    POOR CLARE MONASTERY IMMACULATE HEA
    28210 NATOMA ROAD
    LOS ALTOS,CA94022     		N/A PUB CHRTY SUPPORT FOR NUNS 5,000
    HOLY FAMILY ACADEMY
    PO BOX 842
    MT ANGEL,OR97362     		N/A PUB CHRTY TUITION ASSISTANCE 5,000
    Total .................................bullet 3a 437,500
    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 ...........     		    14 263  
    4 Dividends and interest from securities....     14 82,024  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 249,215  
    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 -411  
    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)..   331,091  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    331,091
    (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: 20011551
    Software Version: 2020v4.0


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 19,255 17,329 0 963

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

    TY 2020 DepreciationSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    20011551
    Software Version:
    2020v4.0
    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
    ROOF 2000-10-01 27,370 13,513 SL 39.0000 351 351    
    STORE FRONT 2001-08-23 32,538 15,294 SL 39.0000 834 834    
    PARTITIONS & ELECTRICAL 2007-07-01 141,496 88,437 SL 20.0000 7,075 7,075    
    BUILDING IMPROVEMENTS 2008-07-01 164,206 48,415 SL 39.0000 4,210 4,210    
    PARKING LOT 2015-11-10 87,296 24,014 SL 15.0000 5,820 5,820    
    ROOF 2017-11-14 41,200 2,244 SL 39.0000 1,056 1,056    
    ROOF 2020-06-26 87,469   SL 39.0000 1,121 1,121    

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Name of Stock End of Year Book Value End of Year Fair Market Value
    UNITED SECURITY BANCSHARES CALIF 6,319 13,183
    JPMORGAN CHASE & CO 34,864 108,009
    VISA INC CLASS A 44,432 262,476
    BANK OF AMERICA CORP 37,988 121,240
    DELAWARE GROUP INCOME FUNDS CORP BD FD 240,637 273,870
    JPMORGAN MID CAP VALUE FUND CL L 176,544 184,183
    COSTCO WHSL CORP NEW 14,296 37,678
    FEDERATED HERMES CORPORATE BOND FUND 219,980 238,560
    THORNBURG INC TR LTD TERM INC FD CL I 205,042 215,320
    AMERICAN TOWER CORP 19,311 44,892
    MASTERCARD INC CL A 36,288 142,776
    SBA COMMUNICATIONS CORP 41,424 119,905
    CALVERT IMPACT FD INC SMALL CAP VALUE 96,113 134,325
    FEDERATED HERMES KAUFMANN LARGE CAP FUND 123,259 212,247
    EATON VANCE SER II INCOME FD BOSTON CL I 25,000 29,307
    PIMCO INVT GRADE CREDIT BOND FUND INST 215,722 238,977
    FEDERATED HERMES KAUFMANN SMALL CAP FUND 120,000 176,460
    MFS SER TR X EMERGING MKTS DEBT FD CL I 115,000 136,193
    PACWEST BANCORP DEL 43,840 33,020
    BNY MELLON INTERNATIONAL STOCK FD CL I 185,000 220,976
    LORD ABBETT INVESTMENT TR-INCOME FU CL I 155,000 168,063
    JP MORGAN TRUST I EMERGING MKTS EQUITY F 226,668 316,583
    FRANKLIN GLOBAL TR INTL GROWTH FUND ADV 15,000 15,458
    GOLDMAN SACHS TR SMALL/MID CAP GROWTH FD 225,510 341,681
    BANK AMER CORP 5.375% PFD KK NON CUM 30,024 32,772
    DIAMONDROCK 8.25% PFD HOSP CUM PERP MTY 26,100 26,850

    TY 2020 InvestmentsLandSchedule2
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Buildings 928,948 573,263 355,685 5,716,941
    Land 376,059   376,059 376,059

    TY 2020 InvestmentsOtherSchedule2
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    OAKTREE CAP GRP LLC, PTP 6.55% PFD SER B AT COST 50,750 55,520

    TY 2020 OtherAssetsSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SERVICE & KEY DEPOSITS 795 795 795
    X DATE DIVIDENDS 6,019 2,807 2,807


    TY 2020 OtherExpensesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ATTNY GENERAL'S REGISTRY CHARITABLE TR 75     75
    OFFICE EXPENSE 2,531 253   1,772
    OFFICERS & DIRECTORS LIABILITY INSURANCE 2,173 2,173    
    Rental Expenses 40,022 40,022    
    SECRETARY OF STATE 20     20


    TY 2020 OtherLiabilitiesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Description Beginning of Year - Book Value End of Year - Book Value
    SECURITY DEPOSITS 52,693 93,067
    EXCISE TAX PAYABLE 835  


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADVISOR FEES ON SECURITIES 29,572 29,572 0 0


    TY 2020 TaxesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX ON INVESTMENT INCOME 3,816      
    FRANCHISE TAX BOARD FILING FEE 10