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
ELLISON FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)400 112TH AVE NE NO 230
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BELLEVUE, WA98004
A Employer identification number

91-6557865
B Telephone number (see instructions)

(425) 450-2300
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$44,721,222J 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 8 8  
4 Dividends and interest from securities... 808,824 808,824  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,647,423
b Gross sales price for all assets on line 6a 18,034,634
7 Capital gain net income (from Part IV, line 2)... 1,647,423
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 11,025 11,025  
12 Total. Add lines 1 through 11........ 2,467,280 2,467,280  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 136,544 0   136,544
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 17,701 0   17,701
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 98,673 97,850   823
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 45,551 5,551   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 257 0   138
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 7,530 4,040   3,489
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 306,256 107,441   158,695
25 Contributions, gifts, grants paid....... 3,156,379 3,156,379
26 Total expenses and disbursements. Add lines 24 and 25 3,462,635 107,441   3,315,074
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -995,355
b Net investment income (if negative, enter -0-) 2,359,839
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......... 1,829,705 2,228,148 2,228,148
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) 123,851 Click to see attachment82,095 82,095
b Investments—corporate stock (attach schedule)....... 27,202,345 Click to see attachment18,510,108 18,510,108
c Investments—corporate bonds (attach schedule)....... 14,341,837 Click to see attachment21,743,260 21,743,260
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 3,051,422 Click to see attachment2,157,611 2,157,611
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) 46,549,160 44,721,222 44,721,222
Liabilities 17 Accounts payable and accrued expenses.......... 4,134 4,473
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)......... 4,134 4,473
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........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 46,545,026 44,716,749
29 Total net assets or fund balances (see instructions)..... 46,545,026 44,716,749
30 Total liabilities and net assets/fund balances (see instructions). 46,549,160 44,721,222
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
46,545,026
2
Enter amount from Part I, line 27a .....................
2
-995,355
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
45,549,671
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
832,922
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
44,716,749
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 30,000 OH ST BLDG AUTH BUILD AMER BONDS P 2010-03-17 2020-04-01
b UBS 01829-PUBLICLY TRADED SECURITIES      
c UBS 01829-PUBLICLY TRADED SECURITIES WASH SALE LOSS DISALLOWED      
d UBS 01829-PUBLICLY TRADED SECURITIES P    
e UBS 01829-PUBLICLY TRADED SECURITIES WASH SALE LOSS DISALLOWED P    
BANK OF AMERICA NA NC US RT 1.75%   2020-01-14 2020-04-13
UBS 01831-PUBLICLY TRADED SECURITIES      
UBS 01831-PUBLICLY TRADED SECURITIES WASH SALE LOSS DISALLOWED      
UBS 01831-PUBLICLY TRADED SECURITIES      
UBS 01831-PUBLICLY TRADED SECURITIES WASH SALE LOSS DISALLOWED      
SPDR GOLD SHARES P    
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 30,000   30,000 0
b 2,996,376   3,103,436 -107,060
c 14,794     14,794
d 13,367,497   12,111,814 1,255,683
e 6,819     6,819
37,089   37,010 79
560,434   592,999 -32,565
399     399
938,962   508,481 430,481
10     10
3,842   3,471 371
78,412     78,412
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       0
b       -107,060
c       14,794
d       1,255,683
e       6,819
      79
      -32,565
      399
      430,481
      10
      371
      78,412
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 1,647,423
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 32,802
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 32,802
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 32,802
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 34,376
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 15,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 49,376
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 12
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 16,562
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet16,562 RefundedBullet 11 0
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
 
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)
    bulletWA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletLEGACY CAPITAL Telephone no.bullet (425) 450-2300

    Located atbullet400 112TH AVE NE STE 230BELLEVUEWA ZIP+4bullet98004
    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
    THOMAS ELLISON PRESIDENT
    5.00     		0 0 0
    400 112TH AVE NE SUITE 230
    BELLEVUE,WA98004
    MAUREEN SUE ELLISON V. PRESIDENT
    4.00     		0 0 0
    400 112TH AVE NE SUITE 230
    BELLEVUE,WA98004
    ROBERT HURLBUT FOUNDATION DIRECTOR
    40.00     		136,544 6,826 0
    400 112TH AVE NE STE 230
    BELLEVUE,WA98004
    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  
    2  
    All other program-related investments. See instructions.
    3  
    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
    40,160,948
    b
    Average of monthly cash balances.......................
    1b
    2,342,815
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    42,503,763
    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
    42,503,763
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    637,556
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    41,866,207
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,093,310
    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
    2,093,310
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    32,802
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    32,802
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,060,508
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,060,508
    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
    2,060,508
    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
    3,315,074
    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
    3,315,074
    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
    3,315,074
    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 2,060,508
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 1,683,959
    b From 2016...... 806,074
    c From 2017...... 994,473
    d From 2018...... 693,887
    e From 2019...... 433,881
    fTotal of lines 3a through e........ 4,612,274
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 3,315,074
    a Applied to 2019, but not more than line 2a 0
    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..... 2,060,508
    e Remaining amount distributed out of corpus 1,254,566
    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 5,866,840
    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 ..........     		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) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		1,683,959
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		4,182,881
    10 Analysis of line 9:
    a Excess from 2016.... 806,074
    b Excess from 2017.... 994,473
    c Excess from 2018.... 693,887
    d Excess from 2019.... 433,881
    e Excess from 2020.... 1,254,566
    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).)
    THOMAS ELLISON
    MAUREEN SUE ELLISON
    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:
    BOB HURLBUT
    400 112TH AVE NE STE 230
    BELLEVUE,WA98004
    (425) 460-4380
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER
    cAny submission deadlines:
    N/A
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    N/A
    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
    WOOD RIVER COMMUNITY YMCA
    101 SADDLE RD
    KETCHUM,ID83340     		  PC YOUTH SERVICES 10,000
    WESTSIDE BABY
    10002 14TH AVE SW
    SEATTLE,WA98146     		  PC YOUTH NEEDS 15,000
    WASHINGTON WOMEN IN NEED
    232 5TH AVE S STE 201
    KIRKLAND,WA98033     		  PC SCHOLARSHIPS 500
    WASHINGTON HEALTHCARE ACCESS ALLIANCE
    PO BOX 7242
    TACOMA,WA98417     		  PC HEALTHCARE 20,000
    VISION HOUSE
    PO BOX 2951
    RENTON,WA98056     		  PC HOMELESSNESS 15,000
    VINE MAPLE PLACE
    PO BOX 1092
    MAPLE VALLEY,WA98038     		  PC HOMELESSNESS 20,000
    VENTURES
    2100 24TH AVE S STE 380
    SEATTLE,WA98144     		  PC HUMAN SERVICES 10,000
    VENTANA WILDLIFE SOCIETY
    9699 BLUE LARKSPUR STE 105
    MONTEREY,CA93940     		  PC WILDLIFE NEEDS 5,000
    VALLEY GIRLS AND GUYS
    29011 333RD AVE SE
    RAVENSDALE,WA98051     		  PC HEALTHCARE 225
    UW MINORITY ASSOCIATION OF PRE-HEALTH STUDENTS
    3445 S 176TH ST 307
    SEATAC,WA98188     		  PC EDUCATION 750
    UW FOUNDATION-BROTHERHOOD INITIATIVE
    4333 BROOKLYN AVE NE
    SEATTLE,WA98195     		  PC EDUCATION 50,000
    UNIVERSITY OF WASHINGTON
    4333 BROOKLYN AVE NE
    SEATTLE,WA98195     		  PC MEDICAL 2,000
    UNIVERSITY OF PUGET SOUND
    1500 N WARNER ST
    TACOMA,WA98416     		  PC EDUCATION 56,500
    UNITED WAY OF KING COUNTY
    720 2ND AVE
    SEATTLE,WA98104     		  PC SAFETY NET FUND 100,000
    TIDES CENTER
    1012 TORNEY AVE
    SAN FRANCISCO,CA94129     		  PC HUMAN RIGHTS 5,000
    THE SAN JUAN PRESERVATION TRUST
    BOX 759
    FRIDAY HARBOR,WA98250     		  PC LAND CONSERVATION 1,000
    THE HUNGER COALITION
    121 HONEYSUCKLE ST
    BELLEVUE,ID83313     		  PC PROVIDING FOOD 60,000
    THE BAIL PROJECT
    PO BOX 750
    VENICE,CA90294     		  PC HUMAN SERVICES 5,000
    SUN VALLEY WELLNESS FESTIVAL
    PO BOX 4174
    KETCHUM,ID83340     		  PC HEALTH SERVICES 15,000
    STOLEN YOUTH
    3101 E MADISON ST STE 2
    SEATTLE,WA98112     		  PC YOUTH INTERVENTION 20,000
    SEATTLE UNIVERSITY
    901 12TH AVE
    SEATTLE,WA98122     		  PC EDUCATION 75,000
    SEATTLE FOUNDATION
    1601 5TH AVE STE 1900
    SEATTLE,WA98101     		  PC HUMAN SERVICES 250,000
    SEATTLE CHILDREN'S HOSPITAL-ODESSA BROWN CAMPAIGN
    PO BOX 5371
    SEATTLE,WA98145     		  PC MEDICAL CARE & EDUCATION 400,000
    SEATTLE CHILDREN'S
    PO BOX 5371
    SEATTLE,WA98145     		  PC MEDICAL 200,000
    SEATTLE ART MUSEUM
    1300 1ST AVE
    SEATTLE,WA98101     		  PC ARTISTIC PROGRAMS 200,000
    SEATTLE AGAINST SLAVERY
    PO BOX 95662
    SEATTLE,WA98145     		  PC EDUCATION 25,000
    SAFE
    10407 192ND AVE NE
    REDMOND,WA98053     		  PC ANIMAL CARE 7,500
    RWANDA GIRLS INITIATIVE
    PO BOX 325
    MEDINA,WA98039     		  PC YOUTH SERVICES 25,000
    ROOSEVELT ELEMENTARY
    104 N 4TH AVE
    YAKIMA,WA98902     		  PC EDUCATION 2,000
    RECOVERY CAFE
    2222 BOREN AVE
    SEATTLE,WA98121     		  PC COUNSELING PROGRAMS 25,000
    READING PARTNERS
    3250 AIRPORT WAY S STE 642
    SEATTLE,WA98134     		  PC EDUCATION 5,000
    RAINIER SCHOLARS
    2400 24TH AVE S STE 360
    SEATTLE,WA98144     		  PC EDUCATION 62,400
    RAINIER ATHLETES
    3120 139TH AVE SE 5TH FLR
    BELLEVUE,WA98005     		  PC EDUCATION, YOUTH SERVICES 10,000
    RAIN INC
    601 E 5TH ST STE 470
    CHARLOTTE,NC28202     		  PC HUMAN SERVICES 200
    PRONE2HELP
    1601 THIRD AVE APT 27H
    NEW YORK,NY10128     		  PC HEALTHCARE 5,000
    PATEROS HIGH SCHOOL
    344 W BEACH ST
    PATEROS,WA98846     		  PC EDUCATION 4,300
    OVERLAKE MEDICAL CENTER FOUNDATION
    1035 116TH AVE NE
    BELLEVUE,WA98004     		  PC HEALTHCARE 200,000
    ORIENT ELEMENTARY SCHOOL
    374 4TH AVE
    ORIENT,WA99160     		  PC EDUCATION 5,000
    NWIRP
    615 2ND AVE 400
    SEATTLE,WA98104     		  PC EMERGENCY FOOD DISTRIBUTION 15,000
    NORTHWEST EDUCATION ACCESS
    6920 ROOSEVELT WAY NE 355
    SEATTLE,WA98115     		  PC EDUCATION 100,000
    NO KID HUNGRY
    1030 15TH ST NW STE 1100 W
    WASHINGTON,DC20005     		  PC FOOD NEEDS 50
    MOVEMBER FOUNDATION
    PO BOX 1595
    CULVER CITY,CA90232     		  PC MEN'S HEALTH 779
    MOPOP
    120 6TH AVE N
    SEATTLE,WA98109     		  PC MUSICIANS, ARTISTS 15,000
    MIGRANT JUSTICE
    179 S WINOOSKI AVE 202
    BURLINGTON,VT05401     		  PC HUMAN SERVICES 2,500
    MERCER ISLAND SCHOOLS FOUNDATION
    PO BOX 1243
    MERCER ISLAND,WA98040     		  PC EDUCATION 5,000
    MCLOUGHLIN MIDDLE SCHOOL
    5802 MACARTHUR BLVD
    VANCOUVER,WA98661     		  PC EDUCATION 3,500
    MARY'S PLACE
    PO BOX 1711
    SEATTLE,WA98111     		  PC HOMELESS NEEDS 212,400
    MADISON ELEMENTARY
    907 E FIR ST
    MOUNT VERNON,WA98273     		  PC EDUCATION 3,600
    LOGAN ELEMENTARY SCHOOL
    1001 EAST MONTGOMERY
    SPOKANE,WA99207     		  PC EDUCATION 4,800
    LITTLE BIT THERAPEUTIC RIDING
    18675 NE 106TH ST
    REDMOND,WA98052     		  PC HUMAN SERVICES 5,000
    LITERACY SOURCE
    3200 NE 125TH ST
    SEATTLE,WA98125     		  PC EDUCATION 5,000
    LIFEWIRE
    PO BOX 6398
    BELLEVUE,WA98008     		  PC HOUSING 15,000
    LEWIS & CLARK ELEMENTARY
    1130 PRINCETON AVE
    WENATCHEE,WA98801     		  PC EDUCATION 4,200
    LEMAY CAR MUSEUM
    2702 EAST D ST
    TACOMA,WA98421     		  PC GENERAL OPERATIONS 25,000
    LAHAI HEALTH
    19820 SCRIBER LAKE RD STE 2
    LYNNWOOD,WA98036     		  PC HEALTHCARE 10,000
    LA CASA HOGAR
    106 S 6TH ST
    YAKIMA,WA98901     		  PC GENERAL OPERATIONS 105,000
    KINDERING
    16120 NE 8TH ST
    BELLEVUE,WA98008     		  PC HEALTHCARE 25,000
    JUBILEE WOMEN'S CENTER
    620 18TH AVE EAST
    SEATTLE,WA98112     		  PC HUMAN SERVICES 10,000
    JUBILEE REACH
    14200 SE 13TH PL
    BELLEVUE,WA98007     		  PC YOUTH ACTIVITIES 10,000
    JEWISH FAMILY SERVICES
    1601 16TH AVE
    SEATTLE,WA98122     		  PC HUMAN SERVICES 5,000
    INSTITUTE FOR MEDIA ANALYSIS
    276 CONOVER ST 3C
    BROOKLYN,NY11231     		  PC MEDIA ANALYSIS 50,000
    HORN OF AFRICA SERVICES
    5303 RAINIER AVE S D
    SEATTLE,WA98118     		  PC EDUCATION, YOUTH SERVICES 5,000
    HEALTHNETWORK FOUNDATION
    33 RIVER ST
    CHAGRIN FALLS,OH44022     		  PC MEDICAL SUPPORT 5,000
    GLENRIDGE ELEMENTARY PTO
    19405 120TH AVE SE
    KENT,WA98031     		  PC EDUCATION 500
    GEORGE C MARSHALL ELEMENTARY SCHOOL
    6400 MCARTHUR BLVD
    VANCOUVER,WA98661     		  PC EDUCATION 3,200
    FRIENDS OF HOOP
    14150 NE 20TH ST STE F1-95
    BELLEVUE,WA98007     		  PC YOUTH BASKETBALL 10,000
    FOOTHILLS MIDDLE SCHOOL
    1410 MAPLE ST
    WENATCHEE,WA98801     		  PC EDUCATION 5,000
    FOOD LIFELINE
    815 S 96TH ST
    SEATTLE,WA98108     		  PC HUNGER/POVERTY 200,000
    FAMILY LAW CASA
    810 3RD AVE STE 700
    SEATTLE,WA98104     		  PC PROVIDE ADVOCATES FOR CHILDREN 5,000
    ELIZABETH GREGORY HOME
    1604 NE 50TH ST
    SEATTLE,WA98105     		  PC HUMAN SERVICES 5,000
    EASTSIDE BABY CORNER
    PO BOX 712
    ISSAQUAH,WA98027     		  PC GENERAL OPERATIONS 55,000
    DENSHO
    1416 S JACKSON ST
    SEATTLE,WA98144     		  PC HUMAN SERVICES 5,000
    COYOTE CENTRAL
    2300 E CHERRY ST
    SEATTLE,WA98122     		  PC YOUTH EDUCATION 50,000
    COMMUNITY IN SCHOOLS OF FEDERAL WAY
    1825 S 316TH ST
    FEDERAL WAY,WA98003     		  PC EDUCATION 3,600
    CLEAR LAKE ELEMENTARY
    PO BOX 128
    CLEAR LAKE,WA98235     		  PC EDUCATION 3,500
    CHELAN HIGH SCHOOL
    215 WEST WEBSTER
    CHELAN,WA98816     		  PC EDUCATION 6,300
    CENTRAL VERMONT HUMANE SOCIETY
    1589 RTE 14S
    MONTPELIER,VT05601     		  PC ANIMAL NEEDS 2,575
    CAMP KOREY
    24880 BROTHERHOOD RD
    MOUNT VERNON,WA98274     		  PC YOUTH SERVICES 100,000
    BROTHERS FOR LIFE
    270 S HANFORD ST STE 207
    SEATTLE,WA98134     		  PC HUMAN SERVICES 20,000
    BOYS & GIRLS CLUBS OF SOUTH PUGET SOUND
    3875 S 66TH ST 101
    TACOMA,WA98409     		  PC YOUTH PROGRAMS 5,000
    BOYS & GIRLS CLUBS OF KING COUNTY
    603 STEWART ST STE 300
    SEATTLE,WA98101     		  PC YOUTH SERVICES 15,000
    BIRTHDAY DREAMS
    PO BOX 2722
    RENTON,WA98056     		  PC HOMELESS CHILDREN 10,000
    BELLEVUE LIFESPRING
    302 BELLEVUE SQUARE
    BELLEVUE,WA98004     		  PC HUMAN SERVICES 50,000
    BELLEVUE BOYS & GIRLS CLUB
    209 100TH AVE NE
    BELLEVUE,WA98004     		  PC YOUTH PROGRAMS 10,000
    AMERICAN RED CROSS
    431 18TH ST NW
    WASHINGTON,DC20006     		  PC HUMAN SERVICES 12,000
    ALZHEIMER'S ASSOCIATION
    225 N MICHIGAN AVE 17TH FLOOR
    CHICAGO,IL60601     		  PC MEDICAL RESEARCH 25,500
    Total .................................bullet 3a 3,156,379
    bApproved for future payment
    OVERLAKE MEDICAL CENTER FOUNDATION
    1035 116TH AVE NE
    BELLEVUE,WA98004     		  PC HEALTHCARE 800,000
    CAMP KOREY
    24880 BROTHERHOOD RD
    MOUNT VERNON,WA98274     		  PC YOUTH SERVICES 200,000
    Total .................................bullet 3b 1,000,000
    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 8  
    4 Dividends and interest from securities....     14 808,824  
    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.....     14 11,025  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 1,647,423  
    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).. 0 2,467,280 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,467,280
    (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

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    ELLISON FOUNDATION
    EIN:
    91-6557865
    Name of Bond End of Year Book Value End of Year Fair Market Value
    FIXED INCOME UBS AC 01829 20,373,111 20,373,111
    FIXED INCOME UBS AC 01831 1,370,149 1,370,149

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    ELLISON FOUNDATION
    EIN:
    91-6557865
    Name of Stock End of Year Book Value End of Year Fair Market Value
    EQUITIES UBS AC 01829 15,339,928 15,339,928
    EQUITIES UBS AC 01831 3,170,180 3,170,180

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    ELLISON FOUNDATION
    EIN:
    91-6557865
    US Government Securities - End of Year Book Value:

    20,538
    US Government Securities - End of Year Fair Market Value:

    20,538
    State & Local Government Securities - End of Year Book Value:


    61,557
    State & Local Government Securities - End of Year Fair Market Value:


    61,557


    TY 2020 InvestmentsOtherSchedule2
    Name:
    ELLISON FOUNDATION
    EIN:
    91-6557865
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    GLOBAL PARTNERSHIP MICROFINANCE FUND FMV 200,000 200,000
    J.P. MORGAN SECONDARY PRIVATE EQUITY FMV 186,926 186,926
    GLOBAL PARTNERSHIP SOCIAL INVESTMENT FUND FMV 200,000 200,000
    GSO PRIVATE INVESTORS OFFSHORE II FMV 49,408 49,408
    PROVIDENCE DEBT III FMV 124,827 124,827
    WARBURG PINCUS ENERGY FMV 221,502 221,502
    AG OPPORTUNISTIC WHOLE LOAN FMV 85,763 85,763
    OTHER INVESTMENTS UBS AC 01829 FMV 936,033 936,033
    PEG SECONDARY PRIV EQUITY III FMV 118,278 118,278
    CASH ALTERNATIVES UBS AC 01829 FMV 34,874 34,874

    TY 2020 OtherDecreasesSchedule
    Name:
    ELLISON FOUNDATION
    EIN:
    91-6557865
    Description Amount
    UNREALIZED GAINS (LOSSES) ON INVESTMENTS 832,922


    TY 2020 OtherExpensesSchedule
    Name:
    ELLISON FOUNDATION
    EIN:
    91-6557865
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LICENSES & FEES 59 0   59
    DUES, SUBSCRIPTIONS, BOOKS 620 0   620
    OFFICE SUPPLIES & EQUIPMENT 1,985 198   1,786
    PHONE 720 0   720
    MISCELLANEOUS 304 0   304
    INVESTMENT EXP 3,842 3,842   0


    TY 2020 OtherIncomeSchedule2
    Name:
    ELLISON FOUNDATION
    EIN:
    91-6557865
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 AG OPPORTUNISTIC WHOLE LOAN SELECT, LP 5,688 5,688 5,688
    RECOVERY FROM MADOFF VICTIM FUND 5,337 5,337 5,337


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    ELLISON FOUNDATION
    EIN:
    91-6557865
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT FEES 97,850 97,850   0
    WEBSITE DESIGN & MAINTENANCE 823 0   823


    TY 2020 TaxesSchedule
    Name:
    ELLISON FOUNDATION
    EIN:
    91-6557865
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES PAID 5,551 5,551   0
    FEDERAL TAXES PAID (REFUNDED) 40,000 0   0