TY 2021 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2021

Open to Public Inspection

For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021

Name of foundation
C3INITIATIVE
DBA STELO

Number and street (or P.O. box number if mail is not delivered to street address)412 NW 8TH AVE
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
PORTLAND, OR97209

A Employer identification number

46-0846415

B Telephone number (see instructions)

(971) 267-2340

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$13,158,886J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)	132,935
2	Check .............
3	Interest on savings and temporary cash investments	31		31	31
4	Dividends and interest from securities...	242,035		242,035	242,035
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		921,380
b	Gross sales price for all assets on line 6a 5,128,082
7	Capital gain net income (from Part IV, line 2)...			921,380
8	Net short-term capital gain.........				124,802
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).......		1,075	0	1,075
12	Total. Add lines 1 through 11........	1,297,456		1,163,446	367,943
13	Compensation of officers, directors, trustees, etc.	55,082		0	4,957	50,125
14	Other employee salaries and wages......	212,501		0	0	212,501
15	Pension plans, employee benefits.......	61,329		0	1,084	60,246
16a	Legal fees (attach schedule).........		7,518	0	0	7,518
b	Accounting fees (attach schedule).......		25,490	11,606	0	13,884
c	Other professional fees (attach schedule)....		53,230	35,396	0	17,834
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		1,096	946	946	0
19	Depreciation (attach schedule) and depletion...		57,261	0	0
20	Occupancy..............	65,419		0	6,542	58,877
21	Travel, conferences, and meetings.......	2,410		0	0	2,410
22	Printing and publications..........
23	Other expenses (attach schedule).......		90,805	14	990	89,801
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	632,141		47,962	14,519	513,196
25	Contributions, gifts, grants paid.......	0				0
26	Total expenses and disbursements. Add lines 24 and 25	632,141		47,962	14,519	513,196
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	665,315
b	Net investment income (if negative, enter -0-)			1,115,484
c	Adjusted net income (if negative, enter -0-)...				353,424

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2021)

Form 990-PF (2021)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	276,197	21,662	21,662
	2	Savings and temporary cash investments.........	941,092	211,346	211,346
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........		2,200	2,200
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	5,033,228	6,862,923	9,313,368
	c	Investments—corporate bonds (attach schedule).......	2,360,020	2,112,307	2,183,691
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	15,255	13,232	19,328
	14	Land, buildings, and equipment: basis 1,559,193
		Less: accumulated depreciation (attach schedule) 151,902	1,397,041	1,407,291	1,407,291
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	10,022,833	10,630,961	13,158,886
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )	61,835	248
	23	Total liabilities (add lines 17 through 22).........	61,835	248
		Foundations that follow FASB ASC 958, check here
		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
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	9,960,998	10,630,713
	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).....	9,960,998	10,630,713
	30	Total liabilities and net assets/fund balances (see instructions).	10,022,833	10,630,961

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

9,960,998

Enter amount from Part I, line 27a .....................

665,315

Other increases not included in line 2 (itemize) bullet

4,400

Add lines 1, 2, and 3 ..........................

10,630,713

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

10,630,713

Form 990-PF (2021)

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
1 a	PUBLICLY TRADED SECURITIES
b	PUBLICLY TRADED SECURITIES
c	CAPITAL GAINS DIVIDENDS	P
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	1,775,183	1,650,381	124,802
b	3,326,520	2,556,321	770,199
c	26,379		26,379
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			124,802
b			770,199
c			26,379
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	921,380
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 ...................		3	124,802

Form 990-PF (2021)

Page 4

Part V

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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	15,505
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	15,505
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	7,885
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	10,000
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	17,885
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	42
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	2,338
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax2,338	Refunded	11	0

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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 XIV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Yes

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2021)

Page 5

Part VI-A

Statements Regarding Activities (continued)

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

WWW.C3INITIATIVE.ORG

The books are in care of bullet

STACEY GRISANTI Telephone no. bullet

(971) 267-2340

Located at bullet

412 NW 8TH AVEPORTLANDOR ZIP+4 bullet

97209

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

16 At any time during calendar year 2021, 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 VI-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

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? ...........

1a(1)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............

1a(4)

Yes

(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)? ......................

1a(5)

(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.) ...............

1a(6)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

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 2021? .............

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)):

At the end of tax year 2021, did the foundation have any undistributed income (lines 6d

and 6e, Part XII) for tax year(s) beginning before 2021?....................

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

If "Yes," did it have excess business holdings in 2021 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 2021.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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 2021? ..

Form 990-PF (2021)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive? ....................

5a(2)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals? .............

5a(5)

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 ........

Organizations relying on a current notice regarding disaster assistance check here ......... bullet

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).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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 VII

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
SHIR LY CAMIN GRISANTI	PRESIDENT 40.00	55,082	7,040
412 NW 8TH AVE PORTLAND,OR97209	PRESIDENT 40.00	55,082	7,040
LAURENCE GRISANTI	SECRETARY 3.00	0	0
412 NW 8TH AVE PORTLAND,OR97209	SECRETARY 3.00	0	0
ANTHONY GRISANTI	TREASURER 0.10	0	0
412 NW 8TH AVE PORTLAND,OR97209	TREASURER 0.10	0	0
MONICA CAMIN	DIRECTOR 0.10	0	0
412 NW 8TH AVE PORTLAND,OR97209	DIRECTOR 0.10	0	0
CARLOS CAMIN	DIRECTOR 0.10	0	0
412 NW 8TH AVE PORTLAND,OR97209	DIRECTOR 0.10	0	0

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
RORY R SPARKS	PROGRAM DIRECTOR 40.00	69,049	5,882	0
412 NW 8TH AVE PORTLAND,OR97209	PROGRAM DIRECTOR 40.00	69,049	5,882	0
JENNIFER J WOODWARD	PROGRAM DIRECTOR 40.00	67,658	4,942	0
412 NW 8TH AVE PORTLAND,OR97209	PROGRAM DIRECTOR 40.00	67,658	4,942	0






Total number of other employees paid over $50,000...................				0

Form 990-PF (2021)

Page 7

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part VIII-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	CORE RESIDENCY - DURING THEIR FEBRUARY 2021 RESIDENCY AT CAMP COLTON, ARTISTS CANNUPA HANSKA LUGER AND MARIE WATT COMPLETED THEIR COLLABORATIVE MONUMENTAL SCULPTURE WITH FABRICATION SUPPORT FROM CAMP COLTON STAFFER NEAL FEGAN AND LOCAL SMALL BUSINESS, PORTLAND GARMENT FACTORY. THE DENVER ART MUSEUM COLLABORATED TO CREATE A VIDEO ABOUT THE MAKING OF THE COLLABORATIVE CANID SCULPTURE TO BE A PART OF THE TRAVELING EXHIBITION THAT WENT ON TO MICHAEL C. CARLOS MUSEUM, AND PEABODY ESSEX MUSEUM. APARTMENT RESIDENCY - THIS PILOT RESIDENCY PROGRAM INVITED AN ARTIST TO COMPLETE AN INITIAL SITE VISIT TO SUPPORT THE CREATION OF MULTIPLE ADA ACCESSIBLE RESTROOM SPACES. HAVING RECENTLY COMPLETED THE INSTALLATION OF TWO CUSTOM WASHROOMS AT THE JOHN MICHAEL KOHLER ARTS CENTER, WE ASKED JOY AND PAUL TO UTILIZE LEFTOVER/DISCARDED MATERIALS FROM THEIR KOHLER PROJECTS AND TO GIVE THEM A NEW LIFE IN STELO'S SPACES. THESE CUSTOM MADE CERAMICS ARE BEING REPURPOSED SO THAT THEY DON'T END UP IN A LANDFILL.	76,400
2	VARIABLE WEST + STELO WRITING RESIDENCY - THIS RESIDENCY PROGRAM BEGAN IN PARTNERSHIP WITH THE ARTS WRITING ONLINE PUBLICATION, VARIABLE WEST. TOGETHER WE DEVELOPED AN OPEN CALL AND INVITED 2 LOCAL ARTS WRITERS TO JURY APPLICATIONS AND SELECT EIGHT AWARDEES. PARTICIPANTS ENGAGED WITH VARIABLE WEST FOUNDER, AMELIA RINA, IN READING, DISCUSSIONS, WRITING AND EDITING. THIS RESIDENCY WAS DESIGNED TO SUPPORT ARTS WRITING AND JOURNALISM FOCUSING ON EXHIBITION REVIEWS, ARTIST INTERVIEWS, LONG FORM ESSAYS AND RESEARCH, CULMINATING IN A PUBLISHED PIECE WITH VARIABLE WEST.IPRC WINDOW EXHIBITION ONE: KEEP ICE OUT (CIRCLE PRINT WITH HANDS HOLDING PROTEST SIGNS): COLLABORATIVE WORK BY JILLIAN BARTHOLD, DANIELA DEL MAR, ANNA KHNECHT SCHWARZER. ALSO ON VIEW, EVERYTHING WE NEED, BY LETRA CHUECA PRESS, AND THE DEBT THAT EACH GENERATION OWES BY WHEELHOUSE LETTER PRESS. FINALLY, MOUNTAIN AND PASSIONFLOWER, BY JILLIAN BARTHOLD.	30,800
3	COMMUNITY ADVISORY COUNCIL - IN 2021 WE BEGAN TO WORK WITH COMMUNITY MEMBERS TO DEVELOP COMMUNITY ENGAGEMENT INITIATIVES CENTERED ON CULTURAL COMPETENCY, WITH A FOCUS ON EQUITY AND ANTI-RACISM. MOST NOTABLY, THIS HAS RESULTED IN THE FORMATION OF A PAID COMMUNITY ADVISORY COUNCIL. THE UNIFYING QUALITY OF COUNCIL MEMBERS IS A DEDICATION TO ARTS, CULTURE, AND THEIR INTERSECTIONS IN THE PORTLAND COMMUNITY, AND IN THE LARGER CREATIVE CULTURE INTERNATIONALLY. IN CO-CREATING WITH THE COUNCIL, THE STELO LEADERSHIP TEAM SEEKS TO BETTER SUPPORT EVERYONE WE ENGAGE WITH VIA OUR PROGRAMS - FROM ARTISTS TO AUDIENCES.	19,600
4	COALESCE, PAPER AND PRINT RESIDENCIES GROUP EXHIBITION - AFTER DELAYING OUR PAPERMAKING EXHIBITION PROGRAM IN 2020, WE DECIDED TO HAVE A LARGE GROUP EXHIBITION REPRESENTING 2 YEARS OF THE PAPERMAKING RESIDENCY PROGRAM, AS WELL AS THE INAUGURAL YEAR OF OUR PRINTMAKING RESIDENCY PROGRAM. WE HIRED 2 SEASONAL GALLERY ATTENDANTS TO STAFF THE EXHIBITION. WE ALSO STARTED A PILOT PLANTING PROGRAM IN EIGHT CITY PERMITTED SIDEWALK PLANTERS THAT WERE PLANTED WITH PAPERMAKING FIBER AND INK/DYE PLANTS.ALUMNI STUDIO TOUR SERIES - A MONTHLY VIRTUAL PROGRAM SERIES WHERE WE INVITED ALUMNI TO GIVE A 30 MINUTE TALK ABOUT THEIR WORK, DISCUSSING THEIR TOOLS AND PROCESS. DESIGNED AS A WAY TO STAY CONNECTED WITH OUR COMMUNITY OF MAKERS AND AUDIENCE MEMBERS DURING THE PANDEMIC, THIS PROGRAM ALSO OFFERED STIPENDS TO EACH ALUMNI ARTIST.	17,100

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2021)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

10,910,782

Average of monthly cash balances.......................

629,691

Fair market value of all other assets (see instructions)................

19,326

Total (add lines 1a, b, and c).........................

11,559,799

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

11,559,799

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

173,397

Net value of noncharitable-use assets. Subtract line 4 from line 3. .......

11,386,402

Minimum investment return. Enter 5% (0.05) of line 5................

569,320

Part X

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.)

Minimum investment return from Part IX, line 6..................

Tax on investment income for 2021 from Part V, line 5.......

Income tax for 2021. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

Distributable amount before adjustments. Subtract line 2c from line 1............

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.

Form 990-PF (2021)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2020	(c) 2020	(d) 2021
1 Distributable amount for 2021 from Part X, line 7
2 Undistributed income, if any, as of the end of 2021:
a Enter amount for 2020 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2021:
a From 2016......
b From 2017......
c From 2018......
d From 2019......
e From 2020......
f Total of lines 3a through e ........
4Qualifying distributions for 2021 from Part
XI, line 4: $
a Applied to 2020, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2021 distributable amount.....
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2021.
(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
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2021. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2022 ..........
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8 Excess distributions carryover from 2016 not applied on line 5 or line 7 (see instructions) ...
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......
10 Analysis of line 9:
a Excess from 2017....
b Excess from 2018....
c Excess from 2019....
d Excess from 2020....
e Excess from 2021....

Form 990-PF (2021)

Page 10

Part XIII

Private Operating Foundations (see instructions and Part VI-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 2021, enter the date of the ruling ....... bullet

2012-05-31

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

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) 2021	(b) 2020	(c) 2019	(d) 2018	(e) Total
	353,424	281,629	273,869	272,340	1,181,262
b 85% (0.85) of line 2a .........	300,410	239,385	232,789	231,489	1,004,073
c Qualifying distributions from Part XI, line 4 for each year listed .....	583,707	847,982	1,547,137	478,708	3,457,534
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........	0	0	0	50	50
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....	583,707	847,982	1,547,137	478,658	3,457,484
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......					0
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)					0
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..	379,547	329,929	334,913	360,441	1,404,830
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) ....					0
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....					0
(3) Largest amount of support from an exempt organization					0
(4) Gross investment income					0

Part XIV

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).)

SHIR LY CAMIN GRISANTI

LAURENCE GRISANTI

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2021)

Page 11

Part XIV

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year

Total ................................. 3a				0

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2021)

Page 12

Part XV-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	(e) Related or exempt function income (See instructions.)
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	31
4 Dividends and interest from securities ....
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	921,380
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		1,164,521	0

13Total. Add line 12, columns (b), (d), and (e)..................

1,164,521

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-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 (2021)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2021)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

Schedule B
(Form 990)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2021

Name of the organization

C3INITIATIVE
DBA STELO

Employer identification number

46-0846415

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990) (2021)

Schedule B (Form 990) (2021) Page 2

Name of organization C3INITIATIVE DBA STELO

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	SMALL BUSINESS ADMINISTRATION 409 THIRD STREET SW WASHINGTON, DC20024	$ 60,127	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
2	DENVER ART MUSEUM 100 W 14TH AVENUE PARKWAY DENVER, CO80204	$ 12,680	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
3	SMALL BUSINESS ADMINISTRATION 409 THIRD STREET SW WASHINGTON, DC20024	$ 60,127	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2021)

Schedule B (Form 990) (2021)

Page 3

Name of organization C3INITIATIVE DBA STELO		Employer identification number 46-0846415

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (2021)

Schedule B (Form 990) (2021)

Page 4


Name of organization C3INITIATIVE DBA STELO			Employer identification number 46-0846415
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990) (2021)

Additional Data

Software ID:
Software Version:

- TIN:

TY 2021 AccountingFeesSchedule

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING	25,490	11,606	0	13,884

- TIN:

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

TY 2021 DepreciationSchedule

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Adjusted Net Income
COMPUTERS (2)	2015-08-14	5,026	4,606	SL	5.000000000000	0	0
TINY HOUSE	2016-12-21	53,000	7,788	SL	27.500000000000	1,927	1,927
PRINTING PRESS	2018-01-10	24,720	10,593	SL	7.000000000000	3,531	3,531
PRINTING PRESS ADDITION	2019-03-04	1,182	310	SL	7.000000000000	169	169
BUILDING C3 PDX LLC	2019-03-19	1,046,896	66,621	SL	27.500000000000	38,069	38,069
C3 PDX STUDIO APARTMENTS	2020-08-24	346,488	4,200	SL	27.500000000000	12,600	12,600
BUILDING C3 PDX LLC ADDITION	2020-01-02	14,370	523	SL	27.500000000000	523	523
MOBILE WALLS	2021-11-17	5,502		SL	7.000000000000	66	66
BUILDING C3 PDX LLC IMPROVEMENTS	2021-11-10	62,009		SL	27.500000000000	376	376

- TIN:

TY 2021 InvestmentsCorpBondsSchedule

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Name of Bond	End of Year Book Value	End of Year Fair Market Value
DOUBLELINE TOTAL RETURN BOND	45,475	45,164
RBC BLUEBAY GLOBAL HIGH YIELD BOND	60,000	64,213
TIAA-CREF CORE IMPACT BOND INSTL	336,868	339,124
VANGUARD INFLATION PROCTED	50,000	52,299
CALVERT HIGH YIELD BOND	5,881	5,857
CALVERT INCOME FUND	10,734	11,388
CALVERT FLEXIBLE BOND	16,595	16,436
CCM COMMUNITY IMPACT BOND FUND	67,493	66,454
TOUCHSTONE IMPACT BOND FUND	6,875	6,895
CABLEVISION SYS CORP	99,000	102,500
SPRINT NEXTEL CORP	100,077	104,084
CONSTELLATON BRANDS INC	196,982	208,434
ENERGY TRANSFER EQTY LP	202,504	206,554
BANK AMERICA CORP	195,878	213,664
WENDYS INTL INC	103,449	112,375
CITIGROUP INC	214,750	214,000
DISCOVER FINL SVCS	202,250	213,750
GOLDMAN SACHS GROUP INC	197,496	200,500

- TIN:

TY 2021 InvestmentsCorpStockSchedule

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Name of Stock	End of Year Book Value	End of Year Fair Market Value
CALVERT EMERGING MARKETS EQUITY	142,806	191,408
FRONTIER MFG GLOBAL SUSTAINABLE	615,000	658,201
M NUSHARES ETF TR NUVEEN ESG MIDCP	73,865	129,419
BLACKROCK SUSTAINABL	36,023	39,651
BOSTON TRUST WALDEN BALANCED FUND	4,001	5,934
CALVERT BALANCED FUND	9,561	10,223
CALVERT US LRG CAP VAL RESPONS INDEX	37,157	42,629
PARNASSUS CORE EQUITY INSTL	26,396	35,389
1919 SOCIALLY RESPON BALANCED I	18,972	22,473
INVESCO EXCH TRADED FD TR LL S&P GBL	22,204	24,131
ADIENT	285	431
AMCOR	590	613
AON PLC	824	1,503
ACCENTURE	1,803	4,560
EATON CORP	938	2,074
HELEN OF TROY LTD	407	489
JANUS HENDERSON GROUP	247	419
IHS MARKIT LTD	214	532
LINDE	4,613	7,968
NIELSEN HLDGS	315	267
NORWEGIAN CRUISE LINE HLDG LTD	363	415
PENTAIR	214	365
SEAGATE TECHNOLOGY HLDGS PUB LTD	195	452
STERIS	1,210	2,434
TRANE TECHNOLOGIES	491	1,212
TRINSEO	345	315
WILLIS TOWERS WATSON	511	712
PERRIGO COMPANY	1,758	1,478
CHUBB LIMITED	1,334	1,933
TE CONNECTIVITY LTD	249	484
ROYAL CARIBBEAN GROUP	500	769
AFLAC INC	981	1,168
AT&T INC	5,497	4,551
ACTIVISION BLIZZARD INC	830	1,064
ACUITY BRANDS INC	350	635
ADOBE SYSTEMS INCORPORATED	2,610	5,671
ADVANCED MICRO DEVICES INC	573	3,022
ALIGN TECHNOLOGY INC	539	1,972
ALLSTATE CORP	188	235
ALPHABET INC	4,703	11,574
ALPHABET INC	5,896	14,485
AMERICAN AIRLINES GROUP INC	302	413
AMERICAN EXPRESS CO	1,643	2,454
AMERICAN INTERNATIONAL GROUP	729	1,251
AMERICAN WATER WORKS COMPANY INC	208	378
AMERISOURCEBERGEN CORPORATION	791	1,196
AMERIPRISE FINANCIAL INC	373	905
AMPHENOL CORP	282	525
ANALOG DEVICES INC	538	879
ANTHEM INC	592	927
APPLE INC	9,750	38,710
APPLIED MATERIALS INC	809	3,305
ARISTA NETWORKS INC	362	1,006
AUTODESK INC	462	844
AUTOMATIC DATA PROCESSING INC	1,182	1,973
AVANOS MED INC	351	381
AVERY DENNISON CORP	327	650
AXON ENTERPRISE INC	338	314
BALCHEM CORP	294	506
BALL CORP	778	1,348
BK OF AMERICA CORP	3,994	6,140
BANK OF NEW YORK MELLON CORP	1,037	1,162
BEST BUY CO INC	206	305
BLACKROCK INC	1,284	2,747
BOOKING HOLDINGS INC	5,714	7,198
BORG WARNER INC	443	496
BROADCOM INC	2,205	4,658
AZENTA INC	621	1,031
BROWN-FORMAN CORP	754	1,093
CBOE GLOBAL MARKETS INC	617	652
CIGNA CORP NEW	1,636	2,296
CME GROUP INC	1,537	2,056
CSX CORP	1,094	1,692
CVS HEALTH CORPORATION	2,475	4,436
CAMPBELL SOUP CO	1,194	1,173
CAPITAL ONE FINANCIAL CORP	249	435
CARLISLE COMPANIES INC	443	744
CARPENTER TECHNOLOGY CORP	329	292
CATALENT INC	1,884	3,201
CATERPILLAR INC COM	1,730	2,688
CELANESE CORP	515	840
CENTENE CORP	249	330
CENTERPOINT ENERGY INC	365	335
CERNER CORP	2,330	3,622
CHIPOTLE MEXICAN GRILL INC	1,256	1,748
CISCO SYSTEMS INC	6,501	8,365
CITIGROUP INC	3,116	3,020
CLEVELAND-CLIFFS INC	297	305
COGNIZANT TECHNOLOGY SOLUTIONS	241	355
COMCAST CORP	2,664	3,422
CONAGRA BRANDS INC	1,282	1,400
CONSOLIDATED EDISON INC	1,770	1,792
CONSTELLATION BRANDS INC	1,515	2,259
COPART INC	2,102	2,729
CUMMINS INC	474	654
CURTISS-WRIGHT CORP	1,184	1,387
CUTERA INC	74	248
DR HORTON INC	811	1,193
DTE ENERGY CO	208	239
DARDEN RESTAURANTS INC	462	603
DARLING INGREDIENTS INC	619	624
DAVITA INC	202	455
DEERE & CO	1,123	2,400
DELTA AIR LINES INC	409	313
DISNEY WALT CO COM	4,117	5,625
DOLLAR GEN CORP	986	1,651
DOLLAR TREE INC	415	562
DOMINION ENERGY INC	1,679	1,728
DOVER CORP	272	545
DYCOM INDUSTRIES INC	259	281
E L F BEAUTY INC	499	697
EBAY INC. COM	3,074	5,187
ELECTRONIC ARTS INC	566	660
EMERSON ELECTRIC CO	1,619	2,231
ENERGIZER HLDGS INC	1,309	1,283
ETSY INC COM	536	1,752
EVERSOURCE ENERGY	562	728
EXELON CORP	834	982
EXPEDIA GROUP INC	349	723
META PLATFORMS INC	12,863	12,445
FASTENAL	432	897
FEDEX CORP	353	517
FIDELITY NATL INFORMATION SERVICES	1,270	1,092
FIRST HORIZON CORPORATION	283	327
FISERV INC	1,169	1,142
FLUOR CORP	401	545
FLOWSERVE CORP	444	367
FORD MTR CO	703	1,288
FORTIVE CORP	566	610
FRANKLIN RESOURCES INC	193	201
GENERAL MTRS CO	957	1,290
GLOBAL PAYMENTS INC	828	676
GOLDMAN SACHS GROUP INC	784	1,530
GRACO INC	191	322
GRAND CANYON EDUCATION INC	253	257
GRANITE CONSTRUCTION INC	703	774
HCA HEALTHCARE INC COM	755	1,542
HP INC	231	490
HARTFORD FINANCIAL SERVICES GRP INC	193	276
HASBRO INC	261	305
HERSHEY COMPANY	334	580
HEWLETT PACKARD ENTERPRISE CO	95	95
HEXCEL CORP	792	673
HILTON WORLDWIDE HLDGS INC	414	780
HOME DEPOT INC	3,284	7,470
HOWMET AEROSPACE INC	256	446
HUNTINGTON BANCSHARES INC	448	678
IDEX CORP	619	709
IDEXX LABORATORIES INC	819	2,634
ILLINOIS TOOL WORKS INC	1,580	2,715
ILLUMINA INC	3,106	3,804
INGERSOLL RAND INC	187	433
INOGEN INC	306	306
INTEL CORP	4,132	4,017
INTERCONTINENTAL EXCHANGE INC	1,584	2,735
INTERNATIONAL BUS MACH CORP	3,240	3,342
INTERNATIONAL PAPER CO	176	188
INTUIT INC	251	643
!ROBOT CORP	249	198
JPMORGAN CHASE & CO	6,141	9,501
KEYCORP	204	278
KIRBY CORP	746	891
KNIGHT-SWIFT TRANSN HLDGS INC	415	609
KOHLS CORP COM	139	99
KROGER CO	505	950
LKQ CORP	236	480
LAM RESEARCH CORP	516	2,157
LENNAR CORP	759	1,162
LIQUIDITY SVCS INC	295	287
LOWES COMPANIES INC	1,305	3,360
M &T BANK CORP	578	614
MARSH &MCLENNAN COMPANIES INC	1,543	2,955
MARRIOTT INTERNATIONAL INC	1,443	1,983
MARTIN MARIETTA MATERIALS INC	269	441
MASCO CORP	399	702
MASIMO CORP	763	1,464
MASTERCARD INCORPORATED	2,482	3,953
MATRIX SERVICE CO	605	399
MCCORMICK &COMPANY INC	417	580
MCKESSON CORP	818	1,491
MEDIFAST INC	205	419
MERCURY SYSTEMS INC	582	385
METLIFE INC	981	1,375
METTLER-TOLEDO INTERNATIONAL INC	3,061	6,789
MICROSOFT CORP	12,411	36,995
MICROCHIP TECHNOLOGY INC.	260	522
MICRON TECHNOLOGY INC	1,074	1,956
MILLERKNOLL INC	319	392
MOLSON COORS BEVERAGE CO	547	464
MONSTER BEVERAGE CORP	1,982	2,689
MOODYS CORP	172	391
MORGAN STANLEY	726	1,669
MOSAIC CO	373	511
NASDAQ INC	252	630
NATUS MED INC	802	688
NEOGEN CORP	538	727
NETAPP INC	390	552
NETFLIX INC	3,822	4,217
NEWMONT CORP	3,543	3,473
NEXTERA ENERGY INC	2,709	4,575
NIKE INC	1,888	3,667
NORTHERN TRUST CORP	269	359
NOW INC	229	290
NVIDIA CORPORATION	1,410	10,294
OMNICOM GROUP INC	379	366
ORACLE CORP	2,264	3,750
OTIS WORLDWIDE CORP	395	522
PNC FINANCIAL SERVICES GROUP	1,028	1,604
PACCAR INC	1,075	1,412
PACKAGING CORP OF AMERICA	293	408
PARKER-HANNIFIN CORP	688	1,272
PAYCHEX INC	496	819
PAYPAL HLDGS INC	1,657	3,206
PEPSICO INC	6,522	9,554
PETMED EXPRESS INC	1,130	909
PRESTIGE CONSMR HEALTHCARE INC	1,563	2,547
PRICE T ROWE GROUPS	297	590
PRINCIPAL FINANCIAL GROUP INC	202	289
PROGRESSIVE CORP	1,166	1,642
PUBLIC SVC ENTERPRISE GRP INC	1,232	1,401
PULTE GROUP INC	233	286
QUALCOMM INC	1,087	3,657
QUEST DIAGNOSTICS INC	593	1,038
REPLIGEN CORP	587	2,648
REPUBLIC SERVICES INC	495	837
ROCKWELL AUTOMATION INC	535	1,047
ROPER TECHNOLOGIES INC	969	1,476
S&P GLOBAL INC	592	1,416
SALESFORCE.COM INC	2,838	4,574
SCHWAB CHARLES CORP	1,814	3,196
SERVICENOW INC	1,374	2,596
SHERWIN-WILLIAMS CO	856	2,113
SHUTTERSTOCK INC	186	554
SKYWORKS SOLUTIONS INC	244	465
SMITH A 0 CORP	435	687
SMUCKER J M CO	541	679
SOUTHWEST GAS HLDGS INC	2,980	3,222
STANLEY BLACK & DECKER INC	398	566
STARBUCKS CORP	2,299	3,860
STATE STREET CORP	552	837
STEEL DYNAMICS INC	560	993
SUNCOKE ENERGY INC	1,248	1,555
SUNRUN INC COM	352	274
SYNCHRONY FINANCIAL	192	278
SYSCO CORP	662	707
TJX COMPANIES INC	982	1,442
T-MOBILE US INC	214	232
TABULA RASA HEALTHCARE INC	597	300
TAKE-TWO INTERACTIVE SOFTWARE INC	291	355
TARGET CORP	610	1,852
TELEDYNE TECHNOLOGIES INC	345	437
TESLA INC COM	8,340	12,681
TEXAS INSTRUMENTS INC	1,490	2,639
TORO CO	295	400
TRACTOR SUPPLY CO	269	716
TRANSDIGM GROUP INC	1,306	1,909
TRAVELERS COMPANIES INC	1,451	1,721
TRIPADVISOR INC	156	218
TRUIST FINL CORP	2,135	2,166
TWITTER INC	571	475
UGI CORP	4,927	5,463
US BANCORP	2,093	2,303
UNDER ARMOUR INC	288	297
UNDER ARMOUR INC	224	397
UNION PAC CORP	2,981	4,535
UNITED PARCEL SERVICE INC	1,415	2,786
UNITED STATES STEEL CORP	285	357
UNITEDHEALTH GROUP INC	5,349	11,047
V F CORP	479	439
VAREX IMAGING CORP	328	631
VERIZON COMMUNICATIONS INC	5,489	4,936
VIACOMCBS INC	1,112	694
VISA INC	4,520	6,501
VULCAN MATERIALS CO	565	830
WD 40 CO	234	245
WABTEC	294	368
WALMART INC	5,429	7,379
WASTE MANAGEMENT INC	1,498	2,504
WATSCO INC	465	939
WELLS FARGO CO	4,080	3,934
WEST PHARMACEUTICAL SERVICES INC	721	3,283
WESTERN DIGITAL CORP	318	391
WESTROCK CO	194	222
WILLIAMS-SONOMA INC	346	1,015
XILINX INC	488	848
XYLEM INC COM	231	360
ZOETIS INC	3,126	8,053
APPLE INC	326,323	532,710
LION ELECTRIC CO	65,699	49,700
NIKOLA CORP	194,238	78,960
NIO INC	77,200	63,360
PROTERRA INC	32,565	26,490
ROBINHOOD MARKETS INC	63,557	17,760
SMART GLOBAL HOLDINGS	35,741	35,495
ZILLOW GROUP INC	83,200	63,850
ADVANCED MICRO DEVICES INC	167,918	155,988
ALPHA & OMEGA SEMICONDUCTOR LTD	167,171	164,299
ALPHABET INC	77,646	278,116
AMAZON.COM INC	85,734	283,419
AMGEN INC	77,448	102,811
ANSYS INC	251,037	253,508
APPLE INC	100,245	570,355
ASPEN TECHNOLOGY INC	161,337	172,899
BLACKROCK INC	89,958	167,547
BLOCK INC	157,047	115,318
CADENCE DESIGN SYSTEMS INC	251,649	253,622
EXPEDITORS INTL WASH INC	20,531	66,071
IQVIA HOLDINGS INC	86,872	100,724
KNIGHT SWIFT TRANSPORTATION HOLDINGS	250,493	255,887
LION ELECTRIC CO	168,506	117,690
LKQ CORP	202,868	206,023
META PLATFORMS INC	77,589	202,146
MICROSOFT CORP	88,312	334,975
OWL ROCK CAPITAL CORP	282,782	321,276
PACCAR INC	99,287	157,015
PROTERRA INC	168,455	130,084
QORVO INC	160,234	129,491
SHERWIN WILLIAMS CO	73,025	200,379
SMART GLOBAL HOLDINGS	167,410	165,620
TESLA INC	165,574	179,653
ULTA BEAUTY INC	104,221	253,589
WALMART INC	38,061	59,178
XPENG INC	95,196	96,734
ZIMMER BIOMET HOLDINGS	102,604	154,989
CONSUMER DISCRETIONARY SELECT SECTOR SPDR	98,338	127,775
GLOBAL X NASDAQ COVERED CALL	126,190	121,535
JPMORGAN INTL FOCUS	96,504	123,306
MATTHEWS ASIA GROWTH INVESTOR	68,862	72,694
SECTOR HEALTHCARE SELECT SECTOR SPDR ETF	77,547	150,471
SECTOR TECHNOLOGY SELECT SECTOR SPDR	77,641	282,713
VIRTUS KAR MID CAP GROWTH	163,780	172,274

- TIN:

TY 2021 InvestmentsOtherSchedule2

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
ALEXANDRIA REAL ESTATE EQUITIES	AT COST	416	669
AMERICAN CAMPUS COMMUNITIES INC	AT COST	91	115
AMERICAN TOWER CORP	AT COST	1,481	2,340
AVALONBAY COMMUNITIES INC	AT COST	592	758
BOSTON PROPERTIES INC	AT COST	398	346
CROWN CASTLE INTL CORP	AT COST	1,748	2,296
CYRUSONE INC	AT COST	443	538
DIGITAL REALTY TRUST INC	AT COST	858	1,238
DOUGLAS EMMETT INC	AT COST	195	168
EQUINIX INC	AT COST	1,315	2,538
EQUITY RESIDENTIAL	AT COST	670	815
ESSEX PROPERTY TRUST INC	AT COST	571	704
HEALTHPEAK PROPERTIES INC	AT COST	182	217
HOST HOTELS &RESORTS INC	AT COST	194	174
INVESCO MORTGAGE CAPITAL INC	AT COST	424	339
PROLOGIS INC.	AT COST	639	1,515
PUBLIC STORAGE	AT COST	1,132	1,873
REGENCY CENTERS CORP	AT COST	194	226
SBA COMMUNICATIONS CORP	AT COST	630	778
SIMON PROPERTY GROUP INC	AT COST	420	959
VORNADO REALTY TRUST	AT COST	257	293
WELLTOWER INC	AT COST	382	429

- TIN:

TY 2021 LandEtcSchedule2

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
COMPUTERS (2)	5,026	4,606	420	420
TINY HOUSE	53,000	9,715	43,285	43,285
PRINTING PRESS	24,720	14,124	10,596	10,596
PRINTING PRESS ADDITION	1,182	479	703	703
BUILDING C3 PDX LLC	1,046,896	104,690	942,206	942,206
C3 PDX STUDIO APARTMENTS	346,488	16,800	329,688	329,688
BUILDING C3 PDX LLC ADDITION	14,370	1,046	13,324	13,324
MOBILE WALLS	5,502	66	5,436	5,436
BUILDING C3 PDX LLC IMPROVEMENTS	62,009	376	61,633	61,633

- TIN:

TY 2021 LegalFeesSchedule

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL	7,518	0	0	7,518

- TIN:

TY 2021 OtherExpensesSchedule

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
MISCELLANEOUS	682	0	0	682
RESIDENCY COSTS	48,529	0	0	48,529
SUPPLIES	371	0	0	371
INSURANCE	1,113	0	111	1,002
REPAIRS AND MAINTENANCE	8,787	0	879	7,908
EXHIBITIONS	9,389	0	0	9,389
STATE FEES	1,206	0	0	1,206
PROFESSIONAL MEMBERSHIPS	1,685	0	0	1,685
BANK FEES	14	14	0	0
PARTNERSHIP PROGRAM	14,800	0	0	14,800
PUBLIC PROGRAM	1,200	0	0	1,200
BOOKS & SUBSCRIPTIONS	3,029	0	0	3,029

- TIN:

TY 2021 OtherIncomeSchedule2

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
SUBSIDIZED RENT	1,075	0	1,075

- TIN:

TY 2021 OtherIncreasesSchedule

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Description	Amount
PRIOR PERIOD ADJUSTMENT	4,400

- TIN:

TY 2021 OtherLiabilitiesSchedule

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Description	Beginning of Year - Book Value	End of Year - Book Value
CREDIT CARDS PAYABLE	1,708	248
PPP LOAN	60,127	0

- TIN:

TY 2021 OtherProfessionalFeesSchedule

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
CONSULTING	17,834	0	0	17,834
INVESTMENT	35,396	35,396	0	0

- TIN:

TY 2021 TaxesSchedule

Name:

C3INITIATIVE

DBA STELO

EIN:

46-0846415

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
STATE TAXES	150	0	0	0
FOREIGN TAXES	946	946	946	0