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

56-2322084
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$45,837,021J 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 27,677 27,677  
4 Dividends and interest from securities... 672,473 672,473  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -448,750
b Gross sales price for all assets on line 6a 19,327,521
7 Capital gain net income (from Part IV, line 2)... 0
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........ 251,400 700,150  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 292,252 200,962   91,290
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 40,634 289    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 760     760
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 87,846 226   87,620
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 421,492 201,477   179,670
25 Contributions, gifts, grants paid....... 8,507,994 8,507,994
26 Total expenses and disbursements. Add lines 24 and 25 8,929,486 201,477   8,687,664
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -8,678,086
b Net investment income (if negative, enter -0-) 498,673
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............. 252,765    
2 Savings and temporary cash investments.........   740,101 740,101
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)   Click to see attachment371,698 379,541
b Investments—corporate stock (attach schedule).......   Click to see attachment40,159,433 44,389,055
c Investments—corporate bonds (attach schedule).......   Click to see attachment318,600 328,324
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 49,877,681    
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) 50,130,446 41,589,832 45,837,021
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) 1,382,500  
23 Total liabilities (add lines 17 through 22)......... 1,382,500 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 48,747,946 41,589,832
29 Total net assets or fund balances (see instructions)..... 48,747,946 41,589,832
30 Total liabilities and net assets/fund balances (see instructions). 50,130,446 41,589,832
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
48,747,946
2
Enter amount from Part I, line 27a .....................
2
-8,678,086
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
1,519,972
4
Add lines 1, 2, and 3 ..........................
4
41,589,832
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
41,589,832
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly-traded Securities      
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 19,327,521   19,776,271 -448,750
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -448,750
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -448,750
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 6,932
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 6,932
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 6,932
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 4,900
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 4,900
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 2,032
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (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)
    bulletNC
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
    No
    .........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). Click to see attachment
    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
    Luis Benitez Pres, Dir
    40.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Anita Z Graham Dir, Vice-Chair of the Board
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Omorlie L Harris Treas, Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Laura C Meagher Dir, Sec
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Steven E Rendle Chairman of the Board, Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
     
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    Morgan Stanley Investment mgmt 200,962
    300 N GREENE ST STE 1700
    GREENSBORO,NC27401
    Foundation Source Administrative 87,064
    55 Walls Drive 3rd floor
    Fairfield,CT06824
    Karsh Hagan Philanthropic 66,825
    685 S Broadway
    Denver,CO80209
    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
    42,286,217
    b
    Average of monthly cash balances.......................
    1b
    2,776,601
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    45,062,818
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    45,062,818
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    675,942
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    44,386,876
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,219,344
    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
    2,219,344
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    6,932
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    6,932
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,212,412
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    75,000
    5
    Add lines 3 and 4............................
    5
    2,287,412
    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
    2,287,412
    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
    8,687,664
    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
    8,687,664
    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
    8,687,664
    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 2,287,412
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only.......  
    b Total for prior years:2018, 2017, 2016  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 1,859,713
    b From 2016...... 2,576,128
    c From 2017...... 2,439,130
    d From 2018...... 3,961,373
    e From 2019...... 5,830,446
    fTotal of lines 3a through e........ 16,666,790
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 8,687,664
    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)........     		 
    d Applied to 2020 distributable amount..... 2,287,412
    e Remaining amount distributed out of corpus 6,400,252
    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 23,067,042
    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) ...     		1,859,713
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		21,207,329
    10 Analysis of line 9:
    a Excess from 2016.... 2,576,128
    b Excess from 2017.... 2,439,130
    c Excess from 2018.... 3,961,373
    d Excess from 2019.... 5,830,446
    e Excess from 2020.... 6,400,252
    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 e-mail address of the person to whom applications should be addressed:
    the VF FOUNDATION
    55 walls drive 3rd fl
    fairfield,CT06824
    (800) 839-1754
    bThe form in which applications should be submitted and information and materials they should include:
    https://www.vfc.com/our-company/the-vf-foundation
    cAny submission deadlines:
    https://www.vfc.com/our-company/the-vf-foundation
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    https://www.vfc.com/our-company/the-vf-foundation
    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
    4DWN PROJECT INC
    3839 MCKINNEY AVE STE 155 757
    DALLAS,TX75204     		N/A PC Waste Not Want Not program 25,000
    ACTION GREENSBORO
    122 N ELM ST STE 110
    GREENSBORO,NC27401     		N/A PC Campus Greensboro 15,000
    ACTION GREENSBORO
    122 N ELM ST STE 110
    GREENSBORO,NC27401     		N/A PC Downtown Greenway Community Outdoor Activation Program 19,850
    ALLIANCE FOR SUSTAINABLE COLORADO
    1536 WYNKOOP ST STE 100
    DENVER,CO80202     		N/A PC Sustainability Skills Initiative 21,000
    AMERICAN INDIAN COLLEGE FUND
    8333 GREENWOOD BLVD
    DENVER,CO80221     		N/A PC VF Foundation Scholarship fund 25,000
    AMERICAN MOUNTAIN GUIDES ASSOCIATION
    4720 WALNUT ST STE 200
    BOULDER,CO80301     		N/A PC Covid-19 Crisis Response fund 63,000
    AMERICAN RECREATION COALITION
    EATON WORKSHOP
    WASHINGTON,DC20005     		N/A PC Revitalizing Rural Communities Through Outdoor Recreation program 19,000
    AMERICAN RED CROSS - MILE HIGH CHAPTER
    444 SHERMAN ST
    DENVER,CO80203     		N/A PC Disaster Relief fund - Southern Tornadoes and Floods 25,000
    AMP THE CAUSE
    1575 WELTON ST STE 300
    DENVER,CO80202     		N/A PC Community Day program 17,000
    BIG CITY MOUNTAINEERS INC
    710 10TH ST STE 120
    GOLDEN,CO80401     		N/A PC Cassie Heppner Memorial Scholarship fund 20,000
    BIG CITY MOUNTAINEERS INC
    710 10TH ST STE 120
    GOLDEN,CO80401     		N/A PC Expanding Access to Meaningful Outdoor Experiences program 22,000
    BINGHAMPTON CHRISTIAN ACADEMY
    175 TILLMAN ST
    MEMPHIS,TN38111     		N/A PC General & Unrestricted 2,500
    BO CHARITY FOUNDATION LIMITED
    2/F FUNG SING BLDG 235 HAI TAN ST
    SHAM SHUI PO KOWLOON    
    HK     		N/A NC Expenditure Responsibility Grant 25,000
    BOYS AND GIRLS CLUBS OF METRO DENVER INC
    2017 W 9TH AVE
    DENVER,CO80204     		N/A PC Health and Outdoor Programming for Members of Boys & Girls Clubs of Metro Denver 25,000
    CAMBER OUTDOORS
    PO BOX 7203
    BOULDER,CO80306     		N/A PC Cassie Heppner Memorial Scholarship fund 15,000
    CAMBER OUTDOORS
    PO BOX 7203
    BOULDER,CO80306     		N/A PC Take Action Initiative 140,000
    CENTER FOR JACKSON HOLE
    PO BOX 350
    JACKSON,WY83001     		N/A PC Emerging Leaders Program 11,000
    CHILDRENS HOME SOCIETY OF NORTH CAROLINA INC
    PO BOX 14608
    GREENSBORO,NC27415     		N/A PC Promise of Family Campaign 100,000
    COLORADO MESA UNIVERSITY FOUNDATION
    1450 N 12TH ST
    GRAND JCT,CO81501     		N/A PC Scholarship fund for Outdoor Recreation Industry Studies Program and for Mobile Learning Lab 34,000
    COLORADO MOUNTAIN COLLEGE FOUNDATION INC
    802 GRAND AVE
    GLENWOOD SPRINGS,CO81601     		N/A PC Expanding Outdoor Education and Community Engagement with the Outdoors at Colorado Mountain College 50,000
    COLORADO OUTWARD BOUND SCHOOL - OUTWARD BOUND WILD
    5161 SHERIDAN BLVD
    DENVER,CO80212     		N/A PC Keep the outdoors open program 40,000
    COLORADO STATE UNIVERSITY FOUNDATION
    PO BOX 1870
    FORT COLLINS,CO80522     		N/A PC Develop and implement an Incentive Prize for Innovation in Urban Conservation, Equity and Natural Climate Solutions 146,000
    COLORADO STATE UNIVERSITY FOUNDATION
    PO BOX 1870
    FORT COLLINS,CO80522     		N/A PC Support Conservation, Equity, and Climate Resilience within the City and County of Denver 68,000
    COLORADO SUCCEEDS
    PO BOX 271432
    LITTLETON,CO80127     		N/A PC Homegrown Talent Initiative (HTI) 10,000
    COLORADO YOUNG LEADERS
    7750 SAXEBOROUGH DR
    CASTLE ROCK,CO80108     		N/A PC Saying YES to Youth Stewardship and Leadership program 11,000
    COMMUNITY FOUNDATION OF GREATER GREENSBORO INC
    330 S GREENE ST STE 100
    GREENSBORO,NC27401     		N/A PC Say Yes to Education Guilford program 400,000
    CONNECTICUT COLLEGE
    27 MOHEGAN AVE
    NEW LONDON,CT06320     		N/A PC General & Unrestricted 2,500
    CREATIVE DOWNTOWN APPLETON INC
    333 W COLLEGE AVE STE 100
    APPLETON,WI54911     		N/A PC Mile of Music Sponsorship fund 22,000
    CUBA SKATE INC
    1628 NICHOLSON ST NW
    WASHINGTON,DC20011     		N/A PC Sustainable Skate-Ability program 10,000
    DENVER ART MUSEUM INC
    100 W 14TH AVE PKWY
    DENVER,CO80204     		N/A PC The Creative Hub at the Denver Art Museum 28,000
    DENVER PARK TRUST
    PO BOX 102325
    DENVER,CO80250     		N/A PC St. Charles Place Park 75,000
    DENVER PUBLIC SCHOOLS FOUNDATION
    1860 LINCOLN ST 10TH FL
    DENVER,CO80203     		N/A PC Denver Public Schools Career and College Success program 76,000
    DENVER SCHOLARSHIP FOUNDATION
    789 N SHERMAN ST STE 610
    DENVER,CO80203     		N/A PC The VF Foundation Scholarship fund 25,000
    DOWNTOWN DENVER EVENTS INC
    1515 ARAPAHOE ST TOWER 3 NO 100
    DENVER,CO80202     		N/A PC 16th Street Mall Art project 25,000
    EAST CAROLINA UNIVERSITY EDUCATIONAL FOUNDATION IN
    WARD SPORTS MEDICINE BLDG STE 304
    GREENVILLE,NC27858     		N/A PC General & Unrestricted 3,200
    ECO-CYCLE INC
    1901 63RD ST
    BOULDER,CO80301     		N/A PC A Climate Solution Under Our Feet: Community Carbon Farming 8,000
    ELSEWHERE INCORPORATED
    606 S ELM ST
    GREENSBORO,NC27406     		N/A PC Elsewhere Equity in Action program 10,000
    EMILY GRIFFITH FOUNDATION INC
    1860 LINCOLN ST STE 605
    DENVER,CO80203     		N/A SO I Scholarship fund for Emily Griffith Technical College 100,000
    ENVIRONMENTAL LEARNING FOR KIDS
    PO BOX 2167
    DENVER,CO80221     		N/A PC ELK Youth Programming and Outdoor Education Center 50,000
    F3 FOUNDATION INC
    1645 QUEENS RD W
    CHARLOTTE,NC28207     		N/A PC Pushups 4 Playgrounds program 2,500
    GIRLS AT WORK INC
    4 ELM ST
    MANCHESTER,NH03103     		N/A PC Cassie Heppner Memorial Scholarship fund 40,000
    GLOBALGIVING FOUNDATION INC
    1110 VERMONT AVE NW STE 550
    WASHINGTON,DC20005     		N/A PC General & Unrestricted 430,544
    GLOBALGIVING FOUNDATION INC
    1110 VERMONT AVE NW STE 550
    WASHINGTON,DC20005     		N/A PC General & Unrestricted 500,000
    GREENSBORO CHAMBER FOUNDATION
    111 W FEBRUARY 1 PL
    GREENSBORO,NC27401     		N/A PC 2020 GROW Pledge 300,000
    GREENSBORO CHAMBER FOUNDATION
    111 W FEBRUARY 1 PL
    GREENSBORO,NC27401     		N/A PC Minority Business Accelerator Program 15,000
    GREENSBORO CHILDRENS MUSEUM
    220 N CHURCH ST
    GREENSBORO,NC27401     		N/A PC The Edible Schoolyard 49,800
    GROUNDWORK DENVER INCORPORATED
    3280 N DOWNING ST UNIT E
    DENVER,CO80205     		N/A PC Green Team in the Great Outdoors program 6,000
    HEART & HAND CENTER
    2758 WELTON ST
    DENVER,CO80205     		N/A PC Whole-Child Programming for Northeast Denver Youth 5,000
    IMPACT FARMING FOUNDATION INC
    3885 ETTMAN ST
    SHRUB OAK,NY10588     		N/A PC Haiti Agroforestry Supply Chain project 150,000
    JESS ROSKELLEY FOUNDATION
    10121 E HERON VIEW LN
    MEAD,WA99021     		N/A PC City of Spokane Audubon Park Playground Enhancement Project 20,000
    JUNIOR ACHIEVEMENT OF THE TRIAD INC
    3220 NORTHLINE AVE
    GREENSBORO,NC27408     		N/A PC Inspiring Tomorrows program 22,500
    MARTHA OBRYAN CENTER INC
    711 S 7TH ST
    NASHVILLE,TN37206     		N/A PC Postsecondary Success Program 50,000
    METRO CARING
    1100 E 18TH AVE
    DENVER,CO80218     		N/A PC Growing Together - MC Gardens project 6,000
    MI CASA RESOURCE CENTER
    345 S GROVE ST
    DENVER,CO80219     		N/A PC Mi Casa Resource Center Career Pathways 8,000
    MILE HIGH UNITED WAY INC
    711 PARK AVE W
    DENVER,CO80205     		N/A PC CO COVID Relief Fund 500,000
    MILE HIGH UNITED WAY INC
    711 PARK AVE W
    DENVER,CO80205     		N/A PC United for Schools program 23,000
    NATIONAL FOREST FOUNDATION
    BLDG 27 STE 3 FORT MISSOULA RD
    MISSOULA,MT59804     		N/A PC Catalyzing Conservation & Creating Worthy Work program 232,100
    NATIONAL FOUNDATION FOR THE CTRS FOR DISEASE CONTR
    600 PEACHTREE ST NE STE 1000
    ATLANTA,GA30308     		N/A PC Center for Disease Control - COVID-19 Emergency Response Fund 500,000
    NATIONAL GOVERNORS ASSOCIATION CENTER FOR BEST PRA
    444 N CAPITOL ST NW STE 267
    WASHINGTON,DC20001     		N/A PC Outdoor Recreation Learning Network program 59,000
    NATURAL SCIENCE CENTER OF GREENSBORO INC
    4301 LAWNDALE DR
    GREENSBORO,NC27455     		N/A PC Battleground Parks District Zip Line program 100,000
    NATURE CONSERVANCY
    4245 N FAIRFAX DR STE 100
    ARLINGTON,VA22203     		N/A PC People for Nature & Nature for People program 500,000
    NORTH CAROLINA STATE UNIVERSITY FOUNDATION INC
    NCSU BOX 7207
    RALEIGH,NC27695     		N/A PC Textile, Design, & Management Education & Programming support 230,000
    NORTH CAROLINA STATE UNIVERSITY FOUNDATION INC
    NCSU BOX 7207
    RALEIGH,NC27695     		N/A PC University's Greatest Needs Fund 500
    OREGON STATE UNIVERSITY FOUNDATION
    4238 SW RESEARCH WAY
    CORVALLIS,OR97333     		N/A PC National Outdoor Recreation Economy Workforce Development Consortium 150,000
    OUTDOOR ALLIANCE
    1602 L ST NW STE 615
    WASHINGTON,DC20036     		N/A PC Building the Outdoor Conservation Movement project 50,000
    OUTDOOR LAB FOUNDATION
    3000 YOUNGFIELD ST 167
    WHEAT RIDGE,CO80215     		N/A PC Jefferson County Outdoor Lab School Student Tuition Assistance Program 9,000
    OUTWARD BOUND INC
    1133 RTE 55 STE 10
    LAGRANGEVILLE,NY12540     		N/A PC Cassie Heppner Memorial Scholarship fund 50,000
    PARADOX SPORTS
    PO BOX 273
    ELDORADO SPRG,CO80025     		N/A PC Adaptive Climbing Training & Education program 40,000
    PIEDMONT LAND CONSERVANCY
    1515 W CORNWALLIS DR STE 205
    GREENSBORO,NC27408     		N/A PC Piedmont Legacy Trails 5,000
    READY FOR SCHOOL READY FOR LIFE
    PO BOX 13844
    GREENSBORO,NC27415     		N/A PC Early Literacy Manager salary fund 75,000
    RICHMOND FELLOWSHIP OF HONG KONG
    RM 1801 18/F 21 PAK FUK RD
    NORTH POINT    
    HK     		N/A NC Expenditure Responsibility Grant 25,000
    RINO GIVES BACK
    3501 WAZEE ST STE 109
    DENVER,CO80216     		N/A PC Crush Mural Program with Artists and Youth 50,000
    ROCKY MOUNTAIN LAND LIBARY
    2550 W 39TH AVE
    DENVER,CO80211     		N/A PC Ranch Residency Program for BIPOC Creatives 25,000
    ROUNDUP RIVER RANCH
    8333 COLORADO RIVER RD
    GYPSUM,CO81637     		N/A PC 2020 Roundup River Ranch Family Camps 9,000
    SHE BUILT THIS CITY
    1026 JAY ST
    CHARLOTTE,NC28208     		N/A PC Cassie Heppner Memorial Scholarship fund 15,000
    SOCIETY FOR THE PROTECTION OF NEW HAMPSHIRE FOREST
    54 PORTSMOUTH ST
    CONCORD,NH03301     		N/A PC Clay Brook Forest 44,000
    STEAMBOAT SPRINGS WINTER SPORTS CLUB INC
    PO BOX 774487
    STEAMBOAT SPRINGS,CO80477     		N/A PC Howelsen Hill Chairlift Project 750,000
    STOKED MENTORING INC
    68 JAY ST STE 407
    BROOKLYN,NY11201     		N/A PC Virtual Youth Mentoring Program 25,000
    TEACH FOR AMERICA INC
    25 BROADWAY 12TH FL
    NEW YORK,NY10004     		N/A PC Providing students with an equitable and excellent education 42,000
    THE ACCESS FUND
    PO BOX 17010
    BOULDER,CO80308     		N/A PC Indian Creek Climbing Conservation Initiative 32,000
    THE GAY LESBIAN BISEXUAL & TRANSGENDER COMMUNITY C
    1301 E COLFAX AVE
    DENVER,CO80218     		N/A PC Leadership Development and Social Support for LGBTQ+ Youth 17,000
    THE HAROLD HUNTER FOUNDATION
    151 1ST AVE 210
    NEW YORK,NY10003     		N/A PC The HHF Legacy Program 25,000
    THE OUTDOOR FOUNDATION
    2580 55TH ST STE 101
    BOULDER,CO80301     		N/A PC Thrive Outside Communities program 250,000
    THE PARK PEOPLE
    1510 S GRANT ST
    DENVER,CO80210     		N/A PC Denver Urban Forest Project 68,000
    TRUST FOR PUBLIC LAND
    101 MONTGOMERY ST STE 900
    SAN FRANCISCO,CA94104     		N/A PC Atlanta's Cook Park, Denver's Westwood Verde Trail, Dallas' Alice Branch Creek Health & Wellness Park and Greenbelt, Los Angeles' Urban Orchard and the Equitable Community Recovery Fund 500,000
    UNITED NATIONS FOUNDATION INC
    1750 PENNSYLVANIA AVE NW STE 300
    WASHINGTON,DC20006     		N/A PC United Nations Foundation's COVID-19 Solidarity Response Fund 250,000
    UNITED WAY OF GREATER GREENSBORO INC
    1500 YANCEYVILLE ST
    GREENSBORO,NC27405     		N/A PC United Way of Greater Greensboro Family Success Centers 200,000
    VOLUNTEERS FOR OUTDOOR COLORADO INC
    600 S MARION PKWY
    DENVER,CO80209     		N/A PC COVID-19 Preparedness Response for Volunteer Stewardship of Public Lands 9,000
    WATER WALKERS
    1066 ARCHER ST
    NASHVILLE,TN37203     		N/A PC Adventure-based youth development programs for low-income, inner-city youth 5,000
    WESTERN COLORADO UNIVERSITY FOUNDATION
    PO BOX 1264
    GUNNISON,CO81230     		N/A PC Western Colorado University - Outdoor Industry MBA 31,000
    WILDLAND FIREFIGHTER FOUNDATION
    2393 W AIRPORT WAY
    BOISE,ID83705     		N/A PC fund for the wildland firefighters battling fires in CO, CA, and the West 100,000
    WISH FOR WHEELS
    4600 S ULSTER ST STE 1050
    DENVER,CO80237     		N/A PC VF Build/Give a Bike Initiative 15,000
    WOMENS WILDERNESS INSTITUTE
    2845 WILDERNESS PL STE 211
    BOULDER,CO80301     		N/A PC Outdoor G.I.R.L.S. (Girl Immigrant and Refugee Leadership Series) 23,000
    YAMPA VALLEY SUSTAINABILITY COUNCIL
    PO BOX 881461
    STEAMBOAT SPR,CO80488     		N/A PC Yampa Valley Natural Climate Solutions Project 16,000
    YEAR ONE INC
    1801 FEDERAL BLVD
    DENVER,CO80204     		N/A PC Academic Success and Workforce Development for Colorado's Youth 25,000
    YMA FASHION SCHOLARSHIP FUND
    1501 BROADWAY STE 2001
    NEW YORK,NY10036     		N/A PC The VF Foundation Mentoring Initiative 44,000
    Total .................................bullet 3a 8,507,994
    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 27,677  
    4 Dividends and interest from securities....     14 672,473  
    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 -448,750  
    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)..   251,400  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    251,400
    (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

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    TY 2020 DepreciationSchedule
    Name:
    The VF Foundation
    EIN:
    56-2322084
    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

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    TY 2020 ExpenditureResponsibilityStmt
    Name:
    The VF Foundation
    EIN:
    56-2322084
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    BO CHARITY FOUNDATION LIMITED
          		2/F FUNG SING BLDG 235 HAI TAN ST
    SHAM SHUI PO,KOWLOON  
    HK     		2020-12-31 25,000 To help support the Food Angel Food Assistance Program 0 NO expected in 2021   None Necessary
    RICHMOND FELLOWSHIP OF HONG KONG
          		ROOM 1801 18/F 21 PAK FUK ROAD
    NORTH POINT    
    HK     		2020-12-31 25,000 To help support Recovering citizenship project - care and collaboration with no boundaries 0 NO expected in 2021   none necessary

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    The VF Foundation
    EIN:
    56-2322084
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ABBOTT LABS - 2.950% - 03/15/2 5,249 5,486
    ABBVIE INC - 3.600% - 05/14/20 5,310 5,574
    AMERICAN EXPRESS CO - 2.500% - 5,086 5,334
    AMGEN INC NOTE - 2.650% - 05/1 5,077 5,150
    ANHEUSER BUSCH - 4.750% - 01/2 6,152 6,175
    ANTHEM INC NOTE - 3.650% - 12/ 5,393 5,763
    AON CORP - 2.800% - 05/15/2030 5,470 5,455
    AT&T INC - 4.125% - 02/17/2026 5,494 5,780
    BANK AMER CORP - 3.419% - 12/2 10,948 11,295
    BANK OF NOVA SCOTIA - 1.950% - 10,042 10,327
    CITIGROUP INC NOTE - 3.668% - 10,993 11,375
    COMCAST CORP - 3.300% - 02/01/ 11,071 11,290
    DIAGEO INVT CORP - 2.875% - 05 10,238 10,340
    DISNEY WALT CO - 2.000% - 09/0 10,173 10,434
    ENBRIDGE INC BOND - 4.000% - 1 5,317 5,437
    EVERSOURCE ENERGY - 1.650% - 0 4,954 4,980
    EVERSOURCE ENERGY - 3.800% - 1 5,315 5,464
    GENERAL MLS INC NOTE CALL MAKE 5,297 5,445
    GOLDMAN SACHS GROUP INC - 3.50 5,292 5,518
    HOME DEPOT INC - 2.950% - 06/1 11,318 11,367
    JPMORGAN CHASE &CO - 3.782% - 11,161 11,486
    LINCOLN NATL CORP - 3.050% - 0 5,515 5,577
    LOCKHEED MARTIN BOND - 3.550% 5,440 5,680
    MERCK & CO INC - 2.750% - 02/1 10,416 10,863
    MICROSOFT CORP - 2.700% - 02/1 10,392 10,863
    MORGAN STANLEY FR - 3.700% - 1 5,327 5,564
    NOVARTIS CAPITAL CORP - 3.000% 5,313 5,529
    PNC FINL SVCS - 3.500% - 01/23 5,298 5,447
    PROLOGIS LP - 1.250% - 10/15/2 4,898 4,948
    PUBLIC SERVICE ENTERPRIS - 2.8 10,280 10,716
    ROYAL BK CDA - 1.950% - 01/17/ 10,060 10,326
    SEMPRA ENERGY NOTE - 3.550% - 5,474 5,445
    SHELL INT'L FINANCE - 2.875% - 10,537 11,060
    SIMON PPTY GROUP LP - 3.375% - 5,284 5,436
    STATE STR CORP NOTE - 2.354% - 10,091 10,673
    STATOIL - 2.650% - 01/15/2024 5,154 5,310
    THERMO FISHER - 4.497% - 03/25 6,293 6,249
    TORONTO DOMINION BANK - 1.900% 10,049 10,311
    TOTAL CAPITAL - 3.455% - 02/19 5,455 5,777
    UNION PACIFIC CORP NOTE - 2.40 5,018 5,383
    UNITED PARCEL SERVICE - 3.400% 5,509 5,825
    UNITEDHEALTH GROUP INC - 3.750 11,177 11,388
    VERIZON - 1.500% - 09/18/2030 4,931 4,926
    VERIZON COMMUNICATIONS - 3.376 5,339 5,553

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    The VF Foundation
    EIN:
    56-2322084
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBEY CAPITAL FUTURES STRATEGY 2,004,678 2,061,444
    ABBOTT LABS 28,913 36,898
    ACCENTURE PLC 26,340 29,517
    ACUSHNET HOLDINGS CORP 24,789 31,905
    ALPHABET INC CL A 45,547 56,084
    APPLE INC 39,447 68,999
    ARISTOTLE VALUE EQUITY FUND CL 3,187,696 3,695,259
    BARON GROWTH FUND INSTL 1,599,429 1,946,147
    BLACKSTONE ALTERNATIVE INV FDS 1,263,133 1,229,209
    BROADCOM INC 26,188 34,590
    BUNGE LTD 22,270 28,003
    CHINA TELECOM CP LTD 28,819 20,387
    CHINA UNICOM (HONG KONG) LTD 31,431 20,732
    CHUBB LIMITED 27,224 28,937
    DEERE CO 18,387 30,134
    DOCUSIGN INC 13,180 14,005
    EQUINIX, INC 26,181 24,282
    ERICSSON L M TEL CO 13,211 13,551
    FORTINET INC 23,340 30,894
    GALAPAGOS NV 28,069 23,458
    GARMIN LTD 26,303 30,154
    GOLDMAN SACHS ABSOLUTE RETURN 826,096 841,743
    HANNON ARMSTRONG SUST INFRAST 11,087 31,842
    INFOSYS TECH LTD SPD ADR 13,210 17,357
    ISHARES BARCLAYS SHORT TREASUR 11,719 11,716
    ISHARES BARCLAYS TIPS BOND FUN 392,430 395,715
    ISHARES INC ISHARES MSCI EM ES 73,357 86,437
    ISHARES MSCI EAFE MINIMUM VOLA 3,381,411 3,381,265
    ISHARES MSCI EMERGING MARKETS 2,899,421 3,091,381
    ISHARES MSCI-JAPAN 391,117 450,760
    ISHARES RUSSELL MIDCAP G IN FD 742,462 951,052
    ISHARES RUSSELL MIDCAP VALUE 454,535 480,631
    ISHARES S&P U.S. PREFERRED STO 1,220,800 1,259,084
    ISHARES TRUST ISHARES MSCI EAF 257,762 282,227
    ISHARES TRUST RUSSELL 1000 GRO 2,347,683 3,131,203
    ISHARES TRUST RUSSELL 1000 VAL 2,764,372 2,929,030
    JOHNSON & JOHNSON 29,025 31,476
    LAZARD INTERNATIONAL 3,227,839 3,590,181
    LINCOLN NATIONAL CORP 24,732 27,771
    MEDTRONIC PLC 28,709 29,988
    MERCK & CO INC 33,897 31,902
    NEW ORIENTAL ED & TECHNOLOGY G 9,201 11,706
    OKTA INC 13,182 16,781
    PALO ALTO NETWORKS INC 21,976 35,894
    PAYPAL HOLDINGS, INC 15,179 31,617
    PIMCO TOTAL RETURN ESG FUND CL 3,054,024 3,145,610
    POLEN GROWTH FUND INSTITUTIONA 3,764,195 4,507,844
    PRUDENTIAL FINCL INC 29,550 33,492
    SPDR DOUBLELINE TOTAL RETURN T 1,956,300 1,962,477
    SUNRUN INC 28,105 33,302
    TAL EDUCATION GROUP 6,568 6,150
    TELEFONICA BRASIL, S.A 30,963 23,576
    TELEFONICA S A ADR 32,428 22,567
    THE MOSAIC CO 32,506 39,094
    TRANSUNION COM USD0.01 26,957 30,461
    UNITEDHEALTH GROUP INC 24,345 29,106
    VANGUARD INT TRM BD 1,578,013 1,567,679
    VANGUARD RUSSELL 2000 GROWTH I 1,165,994 1,554,323
    VANGUARD RUSSELL 2000 VALUE 676,781 769,279
    VISA INC 26,342 28,872
    VOYA FINANCIAL INC 30,585 31,875

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    The VF Foundation
    EIN:
    56-2322084
    US Government Securities - End of Year Book Value:

    236,218
    US Government Securities - End of Year Fair Market Value:

    239,573
    State & Local Government Securities - End of Year Book Value:


    135,480
    State & Local Government Securities - End of Year Fair Market Value:


    139,968


    TY 2020 OtherExpensesSchedule
    Name:
    The VF Foundation
    EIN:
    56-2322084
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 87,064     87,064
    Bank Charges 226 226    
    Postage/Delivery Service 556     556


    TY 2020 OtherIncreasesSchedule
    Name:
    The VF Foundation
    EIN:
    56-2322084
    Description Amount
    RETURNED GRANT 75,000
    TO ADJUST ASSETS FROM FMV TO BV 62,472
    TO ADJUST FROM ACCRUAL TO CASH BASIS 1,382,500


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    The VF Foundation
    EIN:
    56-2322084
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 200,962 200,962    
    Philanthropic Consulting Srvcs 24,465     24,465
    SOCIAL MEDIA MANAGEMENT 63,825     63,825
    Website Development 3,000     3,000


    TY 2020 TaxesSchedule
    Name:
    The VF Foundation
    EIN:
    56-2322084
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2020 4,900      
    990-PF Excise Tax for 2019 35,445      
    Foreign Tax Paid 289 289