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
Henry P and Susan C Crowell Trust
 
Number and street (or P.O. box number if mail is not delivered to street address)PO Box 804358
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Chicago, IL60680
A Employer identification number

36-6038028
B Telephone number (see instructions)

(312) 630-6000
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$113,881,541J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,723,017 1,723,017  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,807,994
b Gross sales price for all assets on line 6a 21,895,074
7 Capital gain net income (from Part IV, line 2)... 2,807,994
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 311,181 142,263  
12 Total. Add lines 1 through 11........ 4,842,192 4,673,274  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 711,479 360,317   351,162
14 Other employee salaries and wages...... 145,220 0   145,220
15 Pension plans, employee benefits....... 51,101 1,011   50,090
16a Legal fees (attach schedule)......... Click to see attachment 2,500 0   2,500
b Accounting fees (attach schedule)....... Click to see attachment 12,395 6,197   6,198
c Other professional fees (attach schedule).... Click to see attachment 2,100 0   2,100
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 126,534 20,625   357
19 Depreciation (attach schedule) and depletion... 2 2  
20 Occupancy.............. 53,290 0   53,290
21 Travel, conferences, and meetings....... 5,730 0   5,730
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 799,421 774,546   24,875
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,909,772 1,162,698   641,522
25 Contributions, gifts, grants paid....... 4,026,500 4,026,500
26 Total expenses and disbursements. Add lines 24 and 25 5,936,272 1,162,698   4,668,022
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,094,080
b Net investment income (if negative, enter -0-) 3,510,576
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 3,082,365 3,664,533 3,664,533
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) 4,114,148 Click to see attachment4,163,690 4,222,323
b Investments—corporate stock (attach schedule)....... 40,844,226 Click to see attachment35,407,920 44,471,098
c Investments—corporate bonds (attach schedule)....... 11,358,120 Click to see attachment11,387,245 11,951,920
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 35,248,661 Click to see attachment38,903,351 49,571,667
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) 94,647,520 93,526,739 113,881,541
Liabilities 17 Accounts payable and accrued expenses.......... 101 101
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)    
23 Total liabilities (add lines 17 through 22)......... 101 101
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........ 94,647,419 93,526,638
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 94,647,419 93,526,638
30 Total liabilities and net assets/fund balances (see instructions). 94,647,520 93,526,739
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
94,647,419
2
Enter amount from Part I, line 27a .....................
2
-1,094,080
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
93,553,339
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
26,701
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
93,526,638
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 19,626.610 shares MFO AQR Large Cap Momentum Style   2013-11-13 2020-02-25
b 1,866.400 shares MFO AQR Large Cap Momentum Style   2019-12-23 2020-02-25
c 13,504.660 shares MFO AQR Large Cap Momentum Style   2019-12-23 2020-02-25
d 38,445.970 shares MFO DFA Invt Dimensions Grouop In   2013-11-13 2020-02-25
e 9,339.500 shares NTGI-QM Common Daily Aggregate Bo   2010-05-21 2020-04-29
151.150 shares NTGI-QM Common Daily Aggregate Bond   2019-11-29 2020-04-29
320.510 shares NTGI-QM Common Daily Aggregate Bond   2019-12-20 2020-04-29
164.420 shares NTGI-QM Common Daily Aggregate Bond   2019-12-31 2020-04-29
2,711.010 shares NTGI-QM Common Daily Aggregate Bo   2020-01-28 2020-04-29
159.630 shares NTGI-QM Common Daily Aggregate Bond   2020-01-31 2020-04-29
155.260 shares NTGI-QM Common Daily Aggregate Bond   2020-02-28 2020-04-29
155.490 shares NTGI-QM Common Daily Aggregate Bond   2020-03-31 2020-04-29
33,051.300 shares MFB NTGI Common Daily Short-Term   2010-06-30 2020-04-29
648.810 shares MFB NTGI Common Daily Short-Term Go   2010-11-30 2020-04-29
650.680 shares MFB NTGI Common Daily Short-Term Go   2019-06-28 2020-04-29
603.360 shares MFB NTGI Common Daily Short-Term Go   2019-08-30 2020-04-29
1,131.890 shares MFB NTGI Common Daily Short-Term   2020-01-28 2020-04-29
354.120 shares MFB NTGI Common Daily Short-Term Go   2020-01-31 2020-04-29
338.360 shares MFB NTGI Common Daily Short-Term Go   2020-02-28 2020-04-29
316.910 shares MFB NTGI Common Daily Short-Term Go   2020-03-31 2020-04-29
3,646.970 shares MFO AQR International Momentum St   2013-11-15 2020-04-30
4,020.100 shares MFO AQR Large Cap Momentum Style   2013-11-13 2020-04-30
11,362.280 shares MFO Vanguard Inflation P:rotected   2019-11-05 2020-04-30
4,384.290 shares MFO Vanguard Inflation P:rotected   2020-01-27 2020-04-30
5,578.510 shares MFO AQR International Momentum St   2013-11-15 2020-05-28
6,555.820 shares MFO AQR Large Cap Momentum Style   2013-11-13 2020-05-28
723.680 shares NTGI-QM Common Daily Aggregate Bond   2010-05-21 2020-05-28
136.150 shares NTGI-QM Common Daily Aggregate Bond   2020-04-30 2020-05-28
16,792.030 shares MFO DFA Invt Dimensions Grouop In   2013-11-13 2020-05-28
3,160.830 shares MFO DFA Invt Dimensions Grouop In C   2020-03-30 2020-05-28
13,537.910 shares MFO DFA Invt Dimensions Grouop In   2020-04-30 2020-05-28
4,131.300 shares MFO DFA US L/C Value Portfolio   2019-11-05 2020-05-28
67.670 shares MFO DFA US L/C Value Portfolio   2019-12-17 2020-05-28
1,964.220 shares MFO DFA Investment Dimensions Gro   2019-11-05 2020-05-28
6,800.000 shares MFC FLEXSHARES TR Morningstar GLO   2013-08-13 2020-05-28
8,000.000 shares MFC FLEXSHARES TR Morningstar DEV   2020-01-27 2020-05-28
978.600 shares MFB NTGI Common Daily Short-Term Go   2020-01-28 2020-05-28
321.550 shares MFB NTGI Common Daily Short-Term Go   2020-04-30 2020-05-28
760.740 shares MFB NORTHERN MULTI MANAGER GLOBAL L   2019-11-05 2020-05-28
1,124.440 shares MFB NORTHERN MULTI MANAGER GLOBAL   2020-01-27 2020-05-28
43,535.190 shares MFB NORTHN HI YIELD FXD INC FD   2010-06-29 2020-05-28
101.810 shares NTCC FGT Emerging Markets Fd   2019-12-31 2020-06-01
640.020 shares NTCC FGT Emerging Markets Fd   2020-01-30 2020-06-01
3,160.560 shares MFO AQR International Momentum St   2013-11-15 2020-07-28
4,137.630 shares MFO AQR Large Cap Momentum Style   2013-11-13 2020-07-28
3,610.270 shares MFO DFA Invt Dimensions Grouop In C   2013-11-13 2020-07-28
2,484.810 shares MFO DFA Invt Dimensions Grouop In C   2020-06-29 2020-07-28
3,500.000 shares MFC FLEXSHARES TR Morningstar GLO   2013-08-13 2020-07-28
2,135.060 shares NTCC FGT Emerging Markets Fd   2011-07-29 2020-07-30
204.310 shares NTCC FGT Emerging Markets Fd   2020-01-30 2020-07-30
0.270 shares NTCC FGT Emerging Markets Fd   2020-01-31 2020-07-30
74.280 shares NTCC FGT Emerging Markets Fd   2020-06-30 2020-07-30
70,772.760 shares MFO DFA Invt Dimensions Grouop In   2013-11-13 2020-09-04
1,376.150 shares MFO DFA US L/C Value Portfolio   2019-11-05 2020-09-04
1,126.850 shares MFO DFA Investment Dimensions Gro   2019-11-05 2020-09-04
17,000.000 shares MFC FLEXSHARES TR Morningstar DE   2013-11-15 2020-09-04
1,800.000 shares MFC FLEXSHARES TR Morningstar DEV   2020-01-27 2020-09-04
309.880 shares NTCC FGT Emerging Markets Fd   2012-06-29 2020-10-19
170.900 shares NTCC FGT Emerging Markets Fd   2016-04-29 2020-10-19
2,535.730 shares NTCC FGT Emerging Markets Fd   2012-06-28 2020-10-19
49.140 shares NTCC FGT Emerging Markets Fd   2015-10-30 2020-10-19
31.100 shares NTCC FGT Emerging Markets Fd   2012-01-31 2020-10-19
23.490 shares NTCC FGT Emerging Markets Fd   2020-07-31 2020-10-19
23.300 shares NTCC FGT Emerging Markets Fd   2020-08-31 2020-10-19
11.190 shares NTCC FGT Emerging Markets Fd   2016-11-30 2020-10-19
303.030 shares NTCC FGT Emerging Markets Fd   2013-06-28 2020-10-19
19.410 shares NTCC FGT Emerging Markets Fd   2015-11-30 2020-10-19
19,936.910 shares NTCC FGT Emerging Markets Fd   2011-07-29 2020-10-19
183.590 shares NTCC FGT Emerging Markets Fd   2012-08-31 2020-10-19
169.120 shares NTCC FGT Emerging Markets Fd   2013-08-30 2020-10-19
126.460 shares NTCC FGT Emerging Markets Fd   2015-07-31 2020-10-19
2,661.530 shares NTCC FGT Emerging Markets Fd   2020-05-01 2020-10-19
309.390 shares NTCC FGT Emerging Markets Fd   2016-06-30 2020-10-19
66.590 shares NTCC FGT Emerging Markets Fd   2016-05-31 2020-10-19
149.450 shares NTCC FGT Emerging Markets Fd   2012-03-30 2020-10-19
7.550 shares NTCC FGT Emerging Markets Fd   2020-05-29 2020-10-19
28.070 shares NTCC FGT Emerging Markets Fd   2012-02-29 2020-10-19
146.430 shares NTCC FGT Emerging Markets Fd   2020-03-31 2020-10-19
157.250 shares NTCC FGT Emerging Markets Fd   2012-07-31 2020-10-19
178.890 shares NTCC FGT Emerging Markets Fd   2016-12-30 2020-10-19
163.730 shares NTCC FGT Emerging Markets Fd   2015-08-31 2020-10-19
119.850 shares NTCC FGT Emerging Markets Fd   2020-04-30 2020-10-19
65.960 shares NTCC FGT Emerging Markets Fd   2012-10-31 2020-10-19
300.050 shares NTCC FGT Emerging Markets Fd   2012-04-30 2020-10-19
30.800 shares NTCC FGT Emerging Markets Fd   2012-11-30 2020-10-19
53.490 shares NTCC FGT Emerging Markets Fd   2014-01-31 2020-10-19
158.080 shares NTCC FGT Emerging Markets Fd   2015-12-31 2020-10-19
436.290 shares NTCC FGT Emerging Markets Fd   2016-06-24 2020-10-19
76.520 shares NTCC FGT Emerging Markets Fd   2011-10-31 2020-10-19
81.660 shares NTCC FGT Emerging Markets Fd   2016-03-31 2020-10-19
93.720 shares NTCC FGT Emerging Markets Fd   2012-09-28 2020-10-19
3,395.170 shares NTCC FGT Emerging Markets Fd   2011-10-31 2020-10-19
6,512.730 shares MFO AQR International Momentum St   2020-09-04 2020-11-17
1,856.420 shares MFO DFA Invt Dimensions Grouop In C   2020-09-29 2020-11-17
14,981.580 shares MFO DFA Invt Dimensions Grouop In   2013-11-13 2020-11-17
2,086.160 shares MFO DFA US L/C Value Portfolio   2019-11-05 2020-11-17
7,638.760 shares MFO DFA US L/C Value Portfolio   2020-01-27 2020-11-17
3,787.880 shares MFO DFA Investment Dimensions Gro   2019-11-05 2020-11-17
2,400.000 shares MFC FLEXSHARES TR Morningstar GLO   2013-08-13 2020-11-17
9,600.000 shares MFC FLEXSHARES TR Morningstar DEV   2013-11-15 2020-11-17
1,500.000 shares MFC ISHARES INC ESG AWARE MSCI EM   2020-10-21 2020-11-17
887.650 shares MFO VANGUARD INTL EQUITY INDEX FDS   2020-10-22 2020-11-17
7,843.140 shares MFB NORTHERN MULTI MANAGER GLOBAL   2019-11-05 2020-11-18
3,048.780 shares MFB NORTHN HI YIELD FXD INC FD   2010-06-29 2020-11-18
331.400 shares MFB NTGI Common Daily Short-Term Go   2019-11-29 2020-11-19
618.160 shares MFB NTGI Common Daily Short-Term Go   2019-10-31 2020-11-19
378.380 shares MFB NTGI Common Daily Short-Term Go   2011-11-30 2020-11-19
591.130 shares MFB NTGI Common Daily Short-Term Go   2010-12-31 2020-11-19
255.540 shares MFB NTGI Common Daily Short-Term Go   2020-05-29 2020-11-19
229.150 shares MFB NTGI Common Daily Short-Term Go   2012-04-30 2020-11-19
452.400 shares MFB NTGI Common Daily Short-Term Go   2011-06-30 2020-11-19
413.570 shares MFB NTGI Common Daily Short-Term Go   2011-09-30 2020-11-19
7,354.730 shares MFB NTGI Common Daily Short-Term   2020-01-28 2020-11-19
471.120 shares MFB NTGI Common Daily Short-Term Go   2011-08-31 2020-11-19
357.330 shares MFB NTGI Common Daily Short-Term Go   2011-10-31 2020-11-19
204.700 shares MFB NTGI Common Daily Short-Term Go   2012-08-31 2020-11-19
3,323.210 shares MFB NTGI Common Daily Short-Term   2019-12-20 2020-11-19
285.240 shares MFB NTGI Common Daily Short-Term Go   2012-02-29 2020-11-19
698.360 shares MFB NTGI Common Daily Short-Term Go   2019-05-31 2020-11-19
210.450 shares MFB NTGI Common Daily Short-Term Go   2012-07-31 2020-11-19
548.670 shares MFB NTGI Common Daily Short-Term Go   2011-05-31 2020-11-19
374.930 shares MFB NTGI Common Daily Short-Term Go   2019-12-31 2020-11-19
436.600 shares MFB NTGI Common Daily Short-Term Go   2011-07-29 2020-11-19
637.000 shares MFB NTGI Common Daily Short-Term Go   2019-07-31 2020-11-19
306.080 shares MFB NTGI Common Daily Short-Term Go   2012-01-31 2020-11-19
528.430 shares MFB NTGI Common Daily Short-Term Go   2011-04-29 2020-11-19
344.440 shares MFB NTGI Common Daily Short-Term Go   2011-12-30 2020-11-19
296.620 shares MFB NTGI Common Daily Short-Term Go   2011-02-28 2020-11-19
507.230 shares MFB NTGI Common Daily Short-Term Go   2011-01-31 2020-11-19
241.330 shares MFB NTGI Common Daily Short-Term Go   2016-06-30 2020-11-19
272.960 shares MFB NTGI Common Daily Short-Term Go   2012-05-31 2020-11-19
439.020 shares MFB NTGI Common Daily Short-Term Go   2020-06-30 2020-11-19
550.750 shares MFB NTGI Common Daily Short-Term Go   2019-09-30 2020-11-19
313.960 shares MFB NTGI Common Daily Short-Term Go   2016-07-29 2020-11-19
2,281.640 shares NTCC FGT Emerging Markets Fd   2012-06-28 2020-11-23
30.650 shares NTCC FGT Emerging Markets Fd   2016-01-29 2020-11-23
170.200 shares NTCC FGT Emerging Markets Fd   2015-09-30 2020-11-23
57.630 shares NTCC FGT Emerging Markets Fd   2011-12-30 2020-11-23
120.600 shares NTCC FGT Emerging Markets Fd   2011-09-30 2020-11-23
223.120 shares NTCC FGT Emerging Markets Fd   2012-05-31 2020-11-23
86.500 shares NTCC FGT Emerging Markets Fd   2016-02-29 2020-11-23
4,104.670 shares MFO AQR International Momentum St   2020-09-04 2020-12-30
2,003.050 shares MFO AQR International Momentum St   2020-12-22 2020-12-30
2,770.670 shares MFO AQR Large Cap Momentum Style   2020-09-04 2020-12-30
1,667.020 shares MFO DFA Invt Dimensions Grouop In C   2020-12-14 2020-12-30
3,410.840 shares MFO DFA Invt Dimensions Grouop In C   2013-11-13 2020-12-30
190.330 shares MFO DFA Investment Dimensions GroUP   2020-12-14 2020-12-30
1,502.820 shares MFO DFA Investment Dimensions Gro   2019-11-05 2020-12-30
3,000.000 shares MFC FLEXSHARES TR Morningstar GLO   2013-08-13 2020-12-30
4,700.000 shares MFC FLEXSHARES TR Morningstar DEV   2013-11-15 2020-12-30
700.000 shares MFC ISHARES INC ESG AWARE MSCI EM E   2020-10-21 2020-12-30
60,331.410 shares MFO VANGUARD INTL EQUITY INDEX F   2020-10-22 2020-12-30
NTCC FGT Emerging Mkts Fd   2011-10-31 2020-11-23
Long-term gain/loss from partnerships P 2019-01-02 2020-12-31
Short-term gain/loss from partnerships P 2020-01-02 2020-12-31
Capital Gains Dividends P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 420,598   405,296 15,302
b 39,997   40,165 -168
c 289,405   290,620 -1,215
d 950,000   615,520 334,480
e 1,064,778   967,594 97,184
17,232   16,585 647
36,541   35,076 1,465
18,745   17,976 769
309,077   300,624 8,453
18,199   17,752 447
17,701   17,534 167
17,727   17,441 286
356,392   351,268 5,124
6,996   6,872 124
7,016   6,896 120
6,506   6,405 101
12,205   11,981 224
3,818   3,750 68
3,649   3,609 40
3,417   3,420 -3
50,000   57,322 -7,322
80,000   83,017 -3,017
306,668   295,306 11,362
118,332   115,000 3,332
81,000   87,681 -6,681
138,000   135,380 2,620
82,482   75,161 7,321
15,518   15,525 -7
391,086   268,840 122,246
73,616   62,553 11,063
315,298   300,000 15,298
127,905   127,905 0
2,095   2,095 0
56,000   56,000 0
185,003   185,003 0
424,371   424,371 0
10,538   10,382 156
3,462   3,469 -7
8,878   9,745 -867
13,122   15,000 -1,878
266,000   293,527 -27,527
10,156   12,401 -2,245
63,844   75,802 -11,958
50,000   49,677 323
95,000   85,443 9,557
88,849   57,800 31,049
61,151   58,095 3,056
103,303   115,780 -12,477
238,809   213,506 25,303
22,852   24,198 -1,346
30   31 -1
8,308   7,691 617
1,850,000   1,133,072 716,928
45,000   48,547 -3,547
35,000   38,868 -3,868
958,396   1,056,040 -97,644
101,477   113,442 -11,965
35,199   28,074 7,125
19,412   16,400 3,012
288,030   223,683 64,347
5,582   4,607 975
3,533   2,841 692
2,668   2,607 61
2,647   2,619 28
1,271   1,078 193
34,421   29,840 4,581
2,205   1,769 436
2,264,604   1,993,691 270,913
20,854   17,395 3,459
19,210   16,431 2,779
14,364   12,308 2,056
302,319   250,000 52,319
35,143   30,000 5,143
7,564   6,241 1,323
16,976   14,430 2,546
858   738 120
3,188   2,729 459
16,633   13,035 3,598
17,862   14,736 3,126
20,320   17,387 2,933
18,598   14,692 3,906
13,614   11,486 2,128
7,492   6,526 966
34,082   29,046 5,036
3,499   3,066 433
6,076   5,231 845
17,956   14,154 3,802
49,558   41,000 8,558
8,692   6,972 1,720
9,276   7,736 1,540
10,646   9,306 1,340
385,652   309,375 76,277
110,000   103,487 6,513
52,370   47,134 5,236
422,630   239,855 182,775
75,081   78,617 -3,536
274,919   287,981 -13,062
135,000   131,894 3,106
72,946   79,392 -6,446
596,675   596,352 323
59,331   56,089 3,242
35,000   33,349 1,651
100,000   100,442 -442
20,000   20,976 -976
3,544   3,636 -92
6,611   6,797 -186
4,047   4,145 -98
6,322   6,484 -162
2,733   2,847 -114
2,451   2,505 -54
4,838   4,956 -118
4,423   4,535 -112
78,659   80,875 -2,216
5,039   5,177 -138
3,822   3,917 -95
2,189   2,236 -47
35,542   36,469 -927
3,051   3,118 -67
7,469   7,663 -194
2,251   2,300 -49
5,868   6,015 -147
4,010   4,114 -104
4,669   4,789 -120
6,813   6,983 -170
3,274   3,351 -77
5,652   5,781 -129
3,684   3,772 -88
3,172   3,240 -68
5,425   5,552 -127
2,581   2,640 -59
2,919   2,982 -63
4,695   4,874 -179
5,890   6,050 -160
3,358   3,430 -72
272,790   201,269 71,521
3,664   2,612 1,052
20,349   14,918 5,431
6,890   4,945 1,945
14,419   9,952 4,467
26,676   19,500 7,176
10,342   7,389 2,953
73,925   65,223 8,702
36,075   35,113 962
65,000   65,000 0
49,244   47,994 1,250
100,756   54,608 46,148
7,307   7,078 229
57,693   52,328 5,365
97,903   99,240 -1,337
312,813   291,964 20,849
29,363   26,175 3,188
2,507,373   2,266,651 240,722
    1,787,032 -1,787,032
1,538,332     1,538,332
228,816     228,816
464,839     464,839
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       15,302
b       -168
c       -1,215
d       334,480
e       97,184
      647
      1,465
      769
      8,453
      447
      167
      286
      5,124
      124
      120
      101
      224
      68
      40
      -3
      -7,322
      -3,017
      11,362
      3,332
      -6,681
      2,620
      7,321
      -7
      122,246
      11,063
      15,298
      0
      0
      0
      0
      0
      156
      -7
      -867
      -1,878
      -27,527
      -2,245
      -11,958
      323
      9,557
      31,049
      3,056
      -12,477
      25,303
      -1,346
      -1
      617
      716,928
      -3,547
      -3,868
      -97,644
      -11,965
      7,125
      3,012
      64,347
      975
      692
      61
      28
      193
      4,581
      436
      270,913
      3,459
      2,779
      2,056
      52,319
      5,143
      1,323
      2,546
      120
      459
      3,598
      3,126
      2,933
      3,906
      2,128
      966
      5,036
      433
      845
      3,802
      8,558
      1,720
      1,540
      1,340
      76,277
      6,513
      5,236
      182,775
      -3,536
      -13,062
      3,106
      -6,446
      323
      3,242
      1,651
      -442
      -976
      -92
      -186
      -98
      -162
      -114
      -54
      -118
      -112
      -2,216
      -138
      -95
      -47
      -927
      -67
      -194
      -49
      -147
      -104
      -120
      -170
      -77
      -129
      -88
      -68
      -127
      -59
      -63
      -179
      -160
      -72
      71,521
      1,052
      5,431
      1,945
      4,467
      7,176
      2,953
      8,702
      962
      0
      1,250
      46,148
      229
      5,365
      -1,337
      20,849
      3,188
      240,722
      -1,787,032
      1,538,332
      228,816
      464,839
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,807,994
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 48,797
c All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 48,797
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 48,797
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 60,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 60,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
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 11,203
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet0 RefundedBullet 11 11,203
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIL
    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 addressbulletwww.crowelltrust.org
    14
    The books are in care ofbulletThe Northern Trust Company Telephone no.bullet (312) 630-6000

    Located atbulletPO Box 804358ChicagoIL ZIP+4bullet60680
    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
    Paul Borthwick Secretary
    18.00     		36,630 0 0
    1800 Office Club Point Ste 2200
    Colorado Springs,CO80920
    The Northern Trust Company Trustee
    40.00     		352,303 0 0
    1800 Office Club Point Ste 2200
    Colorado Springs,CO80920
    Jane Overstreet Trustee
    18.00     		36,630 0 0
    1800 Office Club Point Ste 2200
    Colorado Springs,CO80920
    John Robinson Chairman
    18.00     		36,630 0 0
    1800 Office Club Point Ste 2200
    Colorado Springs,CO80920
    John Lewis Treasurer
    18.00     		36,630 0 0
    1800 Office Club Point Ste 2200
    Colorado Springs,CO80920
    Candace Sparks Executive Director
    40.00     		176,026 10,105 0
    1800 Office Club Point Ste 2200
    Colorado Springs,CO80920
    Thomas Lin Vice-chairman
    18.00     		36,630 0 0
    1800 Office Club Point Ste 2200
    Colorado Springs,CO80920
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 NONE 0
    2  
    All other program-related investments. See instructions.
    3 Click to see attachment 0
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    104,150,373
    b
    Average of monthly cash balances.......................
    1b
    1,034,537
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    105,184,910
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    105,184,910
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,577,774
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    103,607,136
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    5,180,357
    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
    5,180,357
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    48,797
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    48,797
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    5,131,560
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    5,131,560
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    5,131,560
    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
    4,668,022
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    4,668,022
    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
    4,668,022
    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 5,131,560
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 3,613,288
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 4,668,022
    a Applied to 2019, but not more than line 2a 3,613,288
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 1,054,734
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		4,076,826
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    Henry P Susan C Crowell Trust
    1880 Office Club Pointe Suite 2200
    Colorado Springs,CO80920
    (719) 272-8300
    bThe form in which applications should be submitted and information and materials they should include:
    See Footnote
    cAny submission deadlines:
    See Footnote
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    See Footnote
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    A Family for Every Orphan
    3110 Woburn St 101
    Bellingham,WA98226     		None PC General Fund 30,000
    A Family for Every Orphan
    3110 Woburn St 101
    Bellingham,WA98226     		None PC General Fund 1,500
    Acts Ministry
    955 W Imperial Highway Ste 100
    Brea,CA92821     		None PC General Fund 15,000
    Agape International Missions
    2510 Douglas Blvd
    Roseville,CA95661     		None PC General Fund 30,000
    Arab Baptist Theological Seminary (ABTS)
    2454 Jett Ferry Rd
    Dunwoody,GA30338     		None PC General Fund 100,000
    Arab Baptist Theological Seminary (ABTS)
    2454 Jett Ferry Rd
    Dunwoody,GA30338     		None PC General Fund 5,000
    Awana Clubs International
    151 E Irving Park Rd
    Streamwood,IL60107     		None PC General Fund 20,000
    Bangui Evangelical School Of Theology (Best)
    2900 S Western Ave
    Rancho Palos Verdes,CA90275     		None PC General Fund 150,000
    Beautiful Redemption
    PO Box 33
    Palmer Lake,CO80133     		None PC General Fund 1,500
    Bethlehem Bible College
    2610 E Common St
    New Braunfels,TX78130     		None PC General Fund 30,000
    Bible Students Fellowship Of Bangladesh Dai Is Fiscal Sponsor
    1010 W Baptist Road
    Colorado Springs,CO80921     		None PC General Fund 100,000
    Calvary Ministries-Capro USA Inc
    344 Montrose Ave
    Laurel,MD20707     		None PC General Fund 32,000
    Christians For Biblical Equality
    200 University Ave W
    St Paul,MN55103     		None PC General Fund 45,000
    Congo Initiative
    3807 N Duke St
    Durham,NC27704     		None PC General Fund 45,000
    Denver Seminary
    66W Springer Dr
    Highlands Ranch,CO80129     		None PC General Fund 55,000
    Development Associates International
    817 Village Center Drive
    Colorado Springs,CO80919     		None PC General Fund 230,000
    Development Associates International
    817 Village Center Drive
    Colorado Springs,CO80919     		None PC General Fund 5,000
    Dream Centers Of Colorado Springs
    101 N Cascade Ave
    Colorado Springs,CO80903     		None PC General Fund 28,000
    Echo Inc
    200 West Second Street
    WinstonSalem,NC27101     		None PC General Fund 20,000
    Echo of the Great Commission
    310 S 14th St Suite 116 and 124
    Colorado Springs,CO80904     		None PC General Fund 3,000
    Edify
    3535 Del Mar Heights Rd
    San Diego,CA92130     		None PC General Fund 50,000
    Elam Ministries
    420 Montgomery
    San Francisco,CA94104     		None PC General Fund 100,000
    Elim Resource Center
    817 Village Center Drive
    Colorado Springs,CO80919     		None PC General Fund 10,000
    Emit
    955 West Imperal Hwy
    Brea,CA92821     		None PC General Fund 15,000
    Engineering Ministries International
    402 N Tejon St
    Colorado Springs,CO80917     		None PC General Fund 45,000
    English Language InstituteChina
    955 W Imperial Highway
    Brea,CA92822     		None PC General Fund 40,000
    Evangelical Theological Seminary In Cairo
    115 East 23Rd St
    New York,NY10010     		None PC General Fund 30,000
    Every Generation Ministries
    955 W Imperial Highway Suite 100
    Brea,CA92821     		None PC General Fund 30,000
    Freedom To Lead International
    3500 West Millbrook Road
    Raleigh,NC27613     		None PC General Fund 20,000
    Friends of Forman Christian College
    3020 Peachtree Road Nw
    Atlanta,GA30305     		None PC General Fund 80,000
    Friends of SAIACS
    1799 Winchester Blvd
    Campbell,CA95008     		None PC General Fund 1,500
    Friends of SAIACS
    1799 Winchester Blvd
    Campbell,CA95008     		None PC General Fund 50,000
    Fuller Theological Seminary
    9300 Flair Drive
    El Monte,CA91731     		None PC General Fund 225,000
    Gordon Conwell Theological Seminary
    100 West 33Rd St
    New York,NY10001     		None PC General Fund 30,000
    Grain Of Wheat International
    630 East 162Nd St
    South Holland,IL60473     		None PC General Fund 20,000
    Harvesters Reaching The Nations
    PO Box 182051
    Columbus,OH43218     		None PC General Fund 25,000
    HimserveECTA International
    200 North Public Rd
    Lafayette,CO80026     		None PC General Fund 15,000
    Hollywood Prayer Network
    955 W Imperial Hwy
    Brea,CA92821     		None PC General Fund 20,000
    Hope International
    1507 Manheim Pike
    Lancaster,PA17604     		None PC General Fund 50,000
    Hope4Mena
    10403 West Colfax Ave
    Lakewood,CO80215     		None PC General Fund 55,000
    Hope India Mission
    1403 Winchester Road
    Decatur,IN46733     		None PC COVID Relief 2,000
    Horizons International
    1301 Canyon Blvd
    Boulder,CO80302     		None PC General Fund 35,000
    International Council For Evangelical Theological Education (ICETE)
    955 W Imperial Highway Ste 100
    Brea,CA92822     		None PC General Fund 10,000
    International Fellowship Of Evangelical Students
    1275 Village Ridge Pt
    Monument,CO80132     		None PC General Fund 40,000
    International Justice Mission
    1445 New York Ave NW
    Washington,DC20005     		None PC General Fund 50,000
    Intervarsity Christian Fellowship
    2870 Holmgren Way
    Green Bay,WI54304     		None PC General Fund 125,000
    Langham Partnership USA (Formerly John Stott Ministries)
    120 East Wesley Street
    Wheaton,IL60187     		None PC General Fund 50,000
    Lebanese Society for Educational and Social Development
    2454 Jett Ferry Rd
    Dunwoody,GA30338     		None PC General Fund 50,000
    Lebanese Society For Educational And Social Development (Lsesd)
    2454 Jett Ferry Rd
    Dunwoody,GA30338     		None PC General Fund 25,000
    Life In Abundance International
    3677 E Foothills Blvd
    Pasadena,CA91107     		None PC General Fund 10,000
    Life In Abundance Intl
    3677 E Foothills Blvd
    Pasadena,CA91107     		None PC General Fund 80,000
    Lifewater International
    4464 Broad Street
    St Luis Obispo,CA93401     		None PC General Fund 50,000
    Live Jam
    1010 W Baptist Road
    Colorado Springs,CO80921     		None PC General Fund 15,000
    Loom International
    555 SE Martin Luther King Jr Blvd
    Ste 3034
    Portland,OR97214     		None PC General Fund 2,500
    Media Associates International
    111 W Monroe St
    Chicago,IL60603     		None PC General Fund 30,000
    Middle East Bible Outreach
    1633 Mt Vernon Road Ste 300
    Atlanta,GA30338     		None PC General Fund 2,000
    Middle East Media
    PO Box 4949
    Columbus,OH43218     		None PC General Fund 30,000
    Military Community Youth Ministries
    955 W Imperial Hwy
    Suite Brea,CA92821     		None PC General Fund 30,000
    Miracle Connect Usa
    222 Broadway
    New York,NY10038     		None PC General Fund 40,000
    Mission Aviation Fellowship
    255 N Lone Hill Ave
    San Dimas,CA91773     		None PC General Fund 85,000
    Mission Eurasia
    120 E Wesley
    Wheaton,IL60187     		None PC General Fund 50,000
    Mission Eurasia
    120 E Wesley
    Wheaton,IL60187     		None PC General Fund 2,000
    Mission Training International Inc
    PO Box 2400
    Brea,CA92822     		None PC General Fund 15,000
    Morning Star Development
    3505 Austin Bluffs Parkway
    Colorado Springs,CO80918     		None PC General Fund 10,000
    Morning Star Development
    3505 Austin Bluffs Parkway
    Colorado Springs,CO80918     		None PC General Fund 80,000
    NAAMC
    6809 District Heights Pkwy
    District Heights,MD20746     		None PC General Fund 2,000
    NYC International Project
    2195 Frederick Douglass Blvd
    New York,NY10026     		None PC General Fund 30,000
    NYC International Project
    2195 Frederick Douglass Blvd
    New York,NY10026     		None PC General Fund 2,000
    Open Doors USA
    PO Box 2400
    Brea,CA92822     		None PC General Fund 30,000
    Operation Agape - Fiscal Sponsor Friends Of Agape
    2790 Briargage Blvd
    Colorado Springs,CO80920     		None PC General Fund 60,000
    Orphan's Tree Inc
    1275 Village Road Pt
    Monument,CO80132     		None PC General Fund 30,000
    Oxford Centre For Mission Studies
    3320 W Olympic Blvd
    Los Angeles,CA90019     		None PC General Fund 25,000
    Pak7
    303 Peachtree St Ne
    Atlanta,GA30308     		None PC General Fund 20,000
    Pars Theological Centre
    210 S Royal Oaks Blvd
    Franklin,TN37064     		None PC General Fund 30,000
    Peer Servants
    303 Worcester Road
    Framingham,MA01701     		None PC General Fund 15,000
    Pioneers
    420 Montgomery St
    San Francisco,CA94105     		None PC General Fund 180,000
    Plant With Purpose
    PO Box 2400
    Brea,CA92822     		None PC General Fund 25,000
    PLIES
    225 W Washington St Ste 101
    Chicago,IL60606     		None PC General Fund 1,000
    Project Medsend
    2440 Mall Dr
    No Charleston,SC29406     		None PC General Fund 50,000
    Reconciled World
    1528 Buckeye Rd
    Phoenix,AZ85034     		None PC General Fund 30,000
    Sat 7 North America
    8133 Elliott Road
    Easton,MD21601     		None PC General Fund 60,000
    Scholarleaders International
    211 Main Street
    San Francisco,CA94105     		None PC General Fund 60,000
    Servant Partners
    321 E Holt Ave
    Pomona,CA91767     		None PC General Fund 10,000
    Serve India Ministries
    PO Box 552
    Charleston,IL61920     		None PC General Fund 1,500
    Shining Light International
    420 Montgomery St
    San Francisco,CA94104     		None PC General Fund 15,000
    South Asia Access
    PO Box 1314
    Wheaton,IL60187     		None PC General Fund 1,500
    Springs Rescue Mission
    Po Box 10566
    Birmingham,AL35296     		None PC General Fund 50,000
    St Paul's University
    508 Boston Rd
    Billerica,MA01821     		None PC General Fund 20,000
    Steiger International
    209 E Liberty Dr
    Wheaton,IL60187     		None PC General Fund 30,000
    The Veritas Forum
    PO Box 15284
    Wilmington,DE19850     		None PC General Fund 35,000
    Thornston Educational Fund
    955 West Imperial Hwy 100
    Brea,CA92821     		None PC General Fund 80,000
    Trinity International University
    6699 Sheridan Rd
    Peoria,IL61614     		None PC General Fund 25,000
    United Christian Prayer For India Friends Of Agape
    2790 Briargate Blvd
    Colorado Springs,CO80920     		None PC General Fund 27,000
    Universite Shalom De Bunia
    8320 N Oak Trafficway
    Kansas City,MO64155     		None PC General Fund 50,000
    Urban Youth Workers Institute
    2321 E 4th St Ste C607
    Santa Ana,CA92705     		None PC General Fund 1,000
    Veritas College International
    5210 Broadway St
    San Antonio,TX78209     		None PC General Fund 30,000
    Village Schools International
    Box 6995
    Portland,OR97228     		None PC General Fund 20,000
    Vision Communications International
    600 Bailey Ave
    Fort Worth,TX76107     		None PC General Fund 30,000
    Visual Story International
    PO Box 77160
    Corona,CA92877     		None PC General Fund 2,500
    Viva North America
    10403 W Colfax Ave
    Lakewood,CO80215     		None PC General Fund 20,000
    Viva North America
    10403 W Colfax Ave
    Lakewood,CO80215     		None PC COVID Relief 2,000
    World Concern Of Crista Ministries Fiscal Sponsor Crista Ministries
    270 Park Ave
    New York,NY10172     		None PC General Fund 50,000
    World Relief Corporation Of The National Association Of Evangelicals
    2 North Charles Street
    Baltimore,MD21201     		None PC General Fund 50,000
    Wycliffe Bible Translators
    Po Box 1000
    Orlando,FL32802     		None PC General Fund 50,000
    Total .................................bullet 3a 4,026,500
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 1,723,017  
    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 2,807,994  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aTax refunds     		        26,107
    bUnrealized gain/loss     18 142,811  
    cPartnership income     14 142,263  
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 4,816,085 26,107
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    4,842,192
    (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.)
    11a Federal tax refunds
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting and Tax Preparation 12,395 6,197   6,198

    TY 2020 AllOthProgRltdInvestmentsSch
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    Category Amount
    None 0

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    Name of Bond End of Year Book Value End of Year Fair Market Value
    Corporate Bonds 11,387,245 11,951,920

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    Name of Stock End of Year Book Value End of Year Fair Market Value
    Corporate Equities 35,407,920 44,471,098

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    US Government Securities - End of Year Book Value:

    4,163,690
    US Government Securities - End of Year Fair Market Value:

    4,222,323
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2020 InvestmentsOtherSchedule2
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    Other Investment Assets AT COST 38,903,351 49,571,667

    TY 2020 LegalFeesSchedule
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Legal Fees 2,500 0   2,500


    TY 2020 OtherDecreasesSchedule
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    Description Amount
    Prior period adjustment to income accrual 26,701


    TY 2020 OtherExpensesSchedule
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Bank Fees -624 0   -624
    Subscriptions 640 0   640
    Postage 34 0   34
    Maintenance 49 0   49
    Phone/Internet 7,519 0   7,519
    Entertainment 484 0   484
    Supplies 312 0   312
    Insurance 3,195 0   3,195
    Office Furnishings/Equipment 2,465 0   2,465
    Investment Exp 718,428 718,428   0
    State Registration Fees 927 0   927
    Software and Tech Support 1,928 0   1,928
    Misc 2,825 0   2,825
    Board Expense 4,417 0   4,417
    Office Expense 704 0   704
    Rental Loss 56,118 56,118   0


    TY 2020 OtherIncomeSchedule2
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Tax refunds 26,107   26,107
    Unrealized gain/loss 142,811   142,811
    Partnership income 142,263 142,263 142,263


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Consulting Fees 0 0   0
    Professional fees from Schedule K-1 0 0   0
    Other professional fees 2,100 0   2,100


    TY 2020 TaxesSchedule
    Name:
    Henry P and Susan C Crowell Trust
    EIN:
    36-6038028
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Excise Tax on Net Investment Income 92,652 0   0
    Foreign Tax 20,625 20,625   0
    Property Tax 357 0   357
    Tax on UBTI 12,900 0   0