Form990-PF
Click to see attachment
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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. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
James Lee Sorenson Family Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)2755 E Cottonwood Pkwy 500
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Salt Lake City, UT84121
A Employer identification number

45-6794415
B Telephone number (see instructions)

(801) 490-1013
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$65,095,436J 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 76 76  
4 Dividends and interest from securities... 1,912,410 1,859,054  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 5,373,277
b Gross sales price for all assets on line 6a 20,952,414
7 Capital gain net income (from Part IV, line 2)... 6,167,361
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 246,899 -60,188  
12 Total. Add lines 1 through 11........ 7,532,662 7,966,303  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 148,424 0   148,424
b Accounting fees (attach schedule)....... Click to see attachment 41,955 0   41,955
c Other professional fees (attach schedule).... Click to see attachment 256,220 256,220   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 70,571 32,747   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 696 348   348
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 517,866 289,315   190,727
25 Contributions, gifts, grants paid....... 2,303,000 2,303,000
26 Total expenses and disbursements. Add lines 24 and 25 2,820,866 289,315   2,493,727
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 4,711,796
b Net investment income (if negative, enter -0-) 7,676,988
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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............. 26,916 24,594 24,594
2 Savings and temporary cash investments......... 1,857,786 3,659,968 3,659,968
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 4,631,907 Click to see attachment3,448,007 3,448,007
b Investments—corporate stock (attach schedule)....... 38,455,955 Click to see attachment41,947,882 41,947,882
c Investments—corporate bonds (attach schedule)....... 3,783,529 Click to see attachment3,321,470 3,321,470
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 7,078,676 Click to see attachment8,392,954 8,392,954
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment4,296,134 Click to see attachment4,300,561 Click to see attachment4,300,561
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 60,130,903 65,095,436 65,095,436
Liabilities 17 Accounts payable and accrued expenses..........   8,701
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)......... 0 8,701
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 60,130,903 65,086,735
29 Total net assets or fund balances (see instructions)..... 60,130,903 65,086,735
30 Total liabilities and net assets/fund balances (see instructions). 60,130,903 65,095,436
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
60,130,903
2
Enter amount from Part I, line 27a .....................
2
4,711,796
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
244,036
4
Add lines 1, 2, and 3 ..........................
4
65,086,735
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
65,086,735
Form 990-PF (2021)
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 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a        
b Czech II interest P 2014-06-30 2021-06-01
c Graduation Alliance escrow release P 2015-06-01 2021-08-16
d Passthrough K-1 gain P    
e Passthrough QSBS 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 20,924,524   15,310,853 5,613,671
b 8,237   8,421 -184
c 27,890     27,890
d       568,850
e       -42,866
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       5,613,671
b       -184
c       27,890
d       568,850
e       -42,866
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 6,167,361
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  
Form 990-PF (2021)
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 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 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........................... 3 106,710
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- ..... 5 106,710
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 114,341
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 114,341
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 7,631
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet7,631 RefundedBullet 11 0
Part VI-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 XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletUT
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-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 ofbulletJim Sorenson Telephone no.bullet (801) 490-1013

    Located atbullet2755 E Cottonwood Pkwy 500Salt Lake CityUT ZIP+4bullet84121
    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 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
    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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
    Yes
     
    (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)
     
    No
    (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)
     
    No
    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
    c
    ........bullet
    d
    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? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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? ..............................
    3a
    Yes
     
    b
    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.) .....................
    3b
     
    No
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (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)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (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)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
    No
    c
    .........bullet
    d
    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? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    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 (e) Expense account,
    other allowances
    James Lee Sorenson Trustee
    5.00     		0 0 0
    2755 E Cottonwood Pkwy 500
    Salt Lake City,UT84121
    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 (2021)
    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
    Sepio Capital Investment advice 256,070
    2795 E Cottonwood Pkwy 500
    Salt Lake City,UT84121
    Ross Aronstam & Moritz Legal 117,058
    1313 N Market Street Suite 101
    Wilmington,DE19801
    Total number of others receiving over $50,000 for professional services.............bullet0
    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  
    2  
    3  
    4  
    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 University of Utah - UVF II: Educating students in social impact entrepreneurship and promoting community development in low and moderate-income households. 313,334
    2 Capria Fund: Creation of early-stage impact investing funds in emerging markets for the puposes of improving livelihoods of low-income individuals. 40,000
    All other program-related investments. See instructions.
    3 Click to see attachment 26,365
    Total. Add lines 1 through 3.........................bullet379,699
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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
    52,346,273
    b
    Average of monthly cash balances.......................
    1b
    1,558,723
    c
    Fair market value of all other assets (see instructions)................
    1c
    5,984,500
    d
    Total (add lines 1a, b, and c).........................
    1d
    59,889,496
    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
    59,889,496
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    898,342
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    58,991,154
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    2,949,558
    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.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    2,949,558
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    106,710
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    106,710
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,842,848
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    403,063
    5
    Add lines 3 and 4............................
    5
    3,245,911
    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 XII, line 1 ...
    7
    3,245,911
    Part XI
    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
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    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 3,245,911
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 2,452,724
    b Total for prior years:20, 20, 20 0
    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 ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 2,873,426
    a Applied to 2020, but not more than line 2a 2,452,724
    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 2021 distributable amount..... 420,702
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		2,825,209
    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 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    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)
    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
     
    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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 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).)
    James Lee Sorenson
    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 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)
    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)
    aPaid during the year
    Junior Achievement of Utah
    515 South 700 East 1F
    Salt Lake City,UT84102     		None PC Fundraising event breakfast sponsorship 3,000
    New Venture Fund
    1828 L Street NW 300-A
    Washington,DC20036     		None PC Economic innovation 100,000
    The Church of Jesus Christ of LDS
    50 E North Temple
    Salt Lake City,UT84150     		None PC General support 1,775,000
    University of Utah
    85 Fort Douglas Blvd Bldg 602
    Salt Lake City,UT84113     		None GOV University endowment 100,000
    American Enterprise Institute
    1789 Massachusetts Ave NW
    Washington,DC20036     		None PC General support 50,000
    The Children's Center
    350 S 400 E
    Salt Lake City,UT84111     		None PC General support 25,000
    Orrin G Hatch Foundation
    411 E South Temple
    Salt Lake City,UT84111     		None PC General support 250,000
    Total .................................bullet 3a 2,303,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    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
    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 76  
    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 5,373,277  
    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 7,532,662 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    7,532,662
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 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)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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
    Friends of Beverley Taylor Sorenson Arts Learning Program 501(c)(4) The trustee for James Lee Sorenson Family Foundation also serves as a Director for Friends of Beverley Taylor Sorenson Arts Learning Program
    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 (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting & tax preparation 41,955 0   41,955

    TY 2021 AllOthProgRltdInvestmentsSch
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category Amount
    Elevar Equity: Developing essential products and services for disconnected communities in Latin America, Asia and other jurisdictions. 4,000
    Recyclops: Programming to facilitate and assist consumers with recycling to reduce landfills. 22,365

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

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    Liberty & Justice Inc
          		302A West 12th St 309
    New York,NY10014     		2013-06-10 125,000 Creating jobs and increasing access to healthcare 125,000 None 12/10/2015 4/4/17 11/5/18 10/14/19 11/13/20 11/11/21    
    Liberty & Justice Inc
          		302A West 12th St 309
    New York,NY10014     		2014-06-05 6,291 Creating jobs and increasing access to healthcare 6,291 None 6/5/14 12/10/2015 4/4/17 11/14/18 10/14/19 11/11/20 11/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2014-07-03 62,500 Increasing access to essential products and services for disconnected communities 62,500 None 7/3/14 4/15/15 2/25/16 9/1/2016 11/10/17 7/12/18 10/18/19 11/6/20 10/15/21    
    Liberty & Justice Inc
          		302A West 12th St 309
    New York,NY10014     		2014-07-22 75,000 Creating jobs and increasing access to healthcare 75,000 None 12/10/2015 4/4/17 11/5/18 10/14/19 11/13/20 11/11/21    
    Waste Capital Partners Inc
          		656 Arguello Blvd 2
    San Francisco,CA94118     		2014-09-03 250,000 Adressing waste collection problems including reducing greenhouse gases and landfill items. Increasing income and job opportunities for underprivileged pouplations 250,000 None 1/6/16 9/30/2016 7/11/17 7/8/18 11/8/19 11/11/20 11/9/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2014-12-03 95,714 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 95,714 None 12/3/14 3/26/15 2/16/16 9/24/2016 7/10/17 7/5/18 10/7/19 11/13/20 11/10/21    
    STI Solutions LLC
          		125 Cambridge Park Suite 301
    Cambridge,MA02140     		2014-12-10 125,000 Assisting smallholder farmers in developing countries and increasing job opportunities for underprivileged populations 125,000 None 9/29/2016 6/15/17 11/5/18 11/15/19 11/6/20 10/11/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2015-04-10 36,131 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 36,131 None 4/10/15 3/27/15 9/24/2016 7/10/17 7/5/18 10/7/19 11/13/20 11/10/21    
    Quidnet Energy
          		14699 Grove St
    Healdsburg,CA95448     		2015-05-07 125,000 Addressing environmental issues with traditional energy generation methods and providing solutions to electricity grid limitations 125,000 None 11/14/2016 7/27/17 8/16/18 11/13/19 11/2/20 11/8/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2015-05-14 45,000 Increasing access to essential products and services for disconnected communities 45,000 None 5/14/15 2/25/16 9/1/2016 11/10/17 7/12/18 10/18/19 11/6/20 10/15/21 11/4/22    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2015-05-18 136,895 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 136,895 None 5/18/15 12/31/2015 2/11/16 10/25/17 7/13/18 11/9/19 11/1/20 10/11/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2015-07-10 2,668 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 2,668 None 7/10/15 9/24/2016 7/10/17 7/5/18 10/7/19 11/13/20 11/10/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2015-08-05 30,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 30,000 None 8/5/15 12/31/2015 10/25/17 7/13/18 10/9/19 11/1/20 10/11/21    
    WorldHaus Construction Private Limited
          		130 W Union Street
    Pasadena,CA91103     		2015-08-20 50,000 Providing affordable housing in undeveloped countries 43,700 None 12/14/2015 8/31/16 7/18/17 11/12/18    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2015-10-13 15,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 15,000 None 10/13/15 12/31/2015 10/25/17 7/13/18 10/9/19 11/1/20 10/11/21    
    Elevar Equity III LP
          		220 2nd Ave S Suite 206
    Seattle,WA98104     		2015-12-11 21,500 Increasing access to essential products and services for disconnected communities 21,500 None 12/11/15 2/25/16 9/1/2016 11/10/17 7/12/18 10/18/19 11/6/20 10/15/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2015-12-29 33,368 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 33,368 None 12/29/15 9/24/2016 7/10/17 7/5/18 10/7/19 11/13/20 11/10/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2016-01-06 45,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 45,000 None 10/25/2017 7/13/18 10/9/19 11/1/20 10/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2016-02-01 34,000 Increasing access to essential products and services for disconnected communities 34,000 None 11/10/2017 7/12/18 10/18/19 11/6/20 10/15/21 11/4/22    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2016-03-31 16,500 Increasing access to essential products and services for disconnected communities 16,500 None 11/10/2017 7/12/18 10/18/19 11/6/20 10/15/21 11/4/22    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2016-04-20 50,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 50,000 None 10/25/2017 7/13/18 10/9/19 11/1/20 10/11/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2016-07-18 13,358 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 13,358 None 7/10/2017 7/5/18 10/7/19 11/13/20 11/10/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2016-09-16 18,500 Increasing access to essential products and services for disconnected communities 18,500 None 11/10/2017 7/12/18 10/18/19 11/6/20 10/15/21 11/4/22    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2016-10-24 42,169 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 42,169 None 7/10/2017 7/5/18 10/7/19 11/13/20 11/10/21    
    Liberty & Justice Inc
          		302A West 12th St 309
    New York,NY10014     		2016-10-27 12,641 Creating jobs and increasing access to healthcare 12,641 None 12/10/2015 10/27/16 4/4/17 11/14/18 10/14/19 11/11/20 11/11/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2016-12-02 50,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 50,000 None 10/25/2017 7/13/18 10/9/19 11/1/20 10/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2016-12-02 20,500 Increasing access to essential products and services for disconnected communities 20,500 None 11/10/2017 7/12/18 10/18/19 11/6/20 10/15/21 11/4/22    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2017-01-24 20,000 Increasing access to essential products and services for disconnected communities 20,000 None 7/12/2018 10/18/19 11/6/20 10/15/21 11/4/22    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2017-03-06 40,681 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 40,681 None 7/5/2018 10/7/19 11/13/20 11/10/21    
    Waste Capital Partners Inc
          		656 Arguello Blvd 2
    San Francisco,CA94118     		2017-04-03 140,000 Adressing waste collection problems including reducing greenhouse gases and landfill items. Increasing income and job opportunities for underprivileged populations 140,000 None 7/8/2018 11/8/19 11/11/20 11/9/21    
    Liberty & Justice Inc
          		302A West 12th St 309
    New York,NY10014     		2017-04-04 50,000 Creating jobs and increasing access to healthcare 50,000 None 11/5/2018 10/14/19 11/11/20 11/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2017-04-06 36,497 Increasing access to essential products and services for disconnected communities 36,497 None 7/12/2018 10/18/19 11/6/20 10/15/21 11/4/22    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2017-06-01 47,114 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 47,114 None 7/5/2018 10/7/19 11/13/20 11/10/21    
    Elevar Equity III LP
          		220 2nd Ave S Suite 206
    Seattle,WA98104     		2017-06-12 18,500 Increasing access to essential products and services for disconnected communities 18,500 None 7/12/2018 10/18/19 11/6/20 10/15/21 11/4/22    
    Capria Accelerator Fund LP
          		815 1st Ave 302
    Seattle,WA89104     		2017-07-21 25,000 Creation of early-stage impact investment funds in emerging markets with the ability to improve lives of low-income individuals 25,000 None 7/9/2018 7/15/19 11/16/20 10/12/21 11/4/22    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2017-09-05 25,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 25,000 None 7/13/2018 10/9/19 11/1/20 10/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2017-09-21 26,503 Increasing access to essential products and services for disconnected communities 26,503 None 7/12/2018 10/18/19 11/6/20 10/15/21 11/4/22    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2017-10-13 62,035 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 62,035 None 7/5/2018 10/7/19 11/13/20 11/10/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2017-12-21 33,000 Increasing access to essential products and services for disconnected communities 33,000 None 7/12/2018 10/18/19 11/6/20 10/15/21 11/4/22    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2017-12-21 66,667 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 66,667 None 7/3/2018 11/13/19 11/12/20 10/9/21    
    Capria Accelerator Fund LP
          		815 1st Ave 302
    Seattle,WA89104     		2018-01-05 50,000 Creation of early-stage impact investment funds in emerging markets with the ability to improve lives of low-income individuals 50,000 None 7/15/2019 11/16/20 10/12/21 11/4/22    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2018-01-24 35,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 35,000 None 10/9/2019 11/1/20 10/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2018-03-08 36,000 Increasing access to essential products and services for disconnected communities 36,000 None 10/18/2019 11/6/20 10/15/21 11/4/22    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2018-03-23 38,114 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 38,114 None 10/7/2019 11/13/20 11/10/21    
    Quidnet Energy
          		14699 Grove St
    Healdsburg,CA95448     		2018-05-10 18,818 Addressing environmental issues with traditional energy generation methods and providing solutions to electricity grid limitations 18,818 None 11/13/2019 11/2/20 11/8/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2018-07-19 45,856 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 45,856 None 10/7/2019 11/13/20 11/10/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2018-07-30 11,500 Increasing access to essential products and services for disconnected communities 11,500 None 10/18/2019 11/6/20 10/15/21 11/4/22    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2018-09-07 37,037 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 37,037 None 11/13/2019 11/12/20 10/9/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2018-11-19 25,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 25,000 None 10/9/2019 11/1/20 10/11/21    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2018-12-24 35,225 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 35,225 None 10/7/2019 11/13/20 11/10/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2018-12-21 14,000 Increasing access to essential products and services for disconnected communities 14,000 None 10/18/2019 11/6/20 10/15/21 11/4/22    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2018-12-27 150,000 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 150,000 None 11/13/2019 11/12/20 10/9/21    
    Newday Financial Technologies Inc
          		735 Montgomery Street
    San Francisco,CA84111     		2018-12-31 100,000 Increasing access to and awareness of socially-impactful investments 100,000 None 11/4/2020 12/29/20 11/14/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2019-02-21 25,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 25,000 None 11/1/2020 10/11/21    
    Recyclops LLC
          		222 S Main St FL 5
    Salt Lake City,UT84101     		2019-05-17 100,000 Programming to facilitate and assisst consumers with recycling to reduce landfills 100,000 None 3/18/2020 10/14/21 11/4/22    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2019-05-20 22,000 Increasing access to essential products and services for disconnected communities 22,000 None 11/6/2020 10/15/21 11/4/22    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2019-06-17 27,284 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 1,583 None 11/13/2020 11/10/21    
    Capria Accelerator Fund LP
          		815 1st Ave 302
    Seattle,WA89104     		2019-06-26 87,500 Creation of early-stage impact investment funds in emerging markets with the ability to improve lives of low-income individuals 84,987 None 11/16/2020 10/12/21 11/4/22    
    Capsule Global Inc (aka Flare)'
          		8 the GRN B STE
    Dover,DE19901     		2019-07-15 250,000 Reducing emergency response times and saving lives through connecting emergency repsone units to patients in need 250,000 None 9/17/2020 11/8/21    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2019-07-24 41,333 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 41,333 None 11/12/2020 10/9/21    
    Catbus InfoLabs Private Limited (aka Blowhorn)
          		511 8th Cross JP Nagar Third Phase
    Bangalore   560078
    IN     		2019-09-05 246,579 Increasing business opportuities and income for lower middle-income Indian residents to alleviate burdents of the poor and provide greater education opportunities 246,579 None 10/7/2021    
    M-PREP Inc (aka Eneza)
          		1040 W Adams Street
    Chicago,IL60607     		2019-09-30 100,000 Promoting and improving education in Agrican countries 100,000 None 11/6/2020 10/14/21    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2019-10-01 10,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 10,000 None 11/1/2020 10/11/21    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2019-11-21 12,500 Increasing access to essential products and services for disconnected communities 12,500 None 11/6/2020 10/15/21 11/4/22    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2019-12-26 82,668 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 82,668 None 11/12/2020 10/9/21    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2020-02-12 160,000 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 160,000 None 10/9/2021    
    Recyclops LLC
          		222 S Main St FL 5
    Salt Lake City,UT84101     		2020-03-20 25,000 Programming to facilitate and assisst consumers with recycling to reduce landfills 25,000 None 10/14/2021    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2020-03-23 25,333 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 25,333 None 10/9/2021    
    Owl Ventures LP
          		400 Pacific Avenue 3rd Floor
    San Francisco,CA94133     		2020-03-27 35,000 Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities 35,000 None 10/11/2021    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2020-04-17 64,495 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 64,495 None 11/10/2021    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2020-04-21 41,333 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 41,333 None 10/9/2021    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2020-05-12 13,500 Increasing access to essential products and services for disconnected communities 13,500 None 10/15/2021 11/4/22    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2020-06-24 11,994 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 11,994 None 11/10/2021    
    Capsule Global Inc (aka Flare)'
          		8 the GRN B STE
    Dover,DE19901     		2020-07-12 17,548 Reducing emergency response times and saving lives through connecting emergency repsone units to patients in need 17,548 None 11/8/2021    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2020-08-12 48,000 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 48,000 None 10/9/2021    
    VilCap Investments LLC
          		3337 Fretz Valley Rd
    Perkasie,PA18944     		2020-10-16 35,472 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 35,472 None 11/10/2021    
    Elevar Equity III LP
          		450 Alaskan Way S Suite 200
    Seattle,WA98104     		2020-11-16 12,500 Increasing access to essential products and services for disconnected communities 12,500 None 10/15/2021 11/4/22    
    Element3 Health Inc
          		1550 Wewatta 2nd Floor
    Denver,CO80202     		2020-12-01 250,000 Development of health solutions for seniors, reducing anxiety, depression, and related issues 250,000 None 10/15/2021    
    VilCap Investments LLC
          		212 Sutter Street 2nd Floor
    San Francisco,CA94108     		2020-12-29 33,575 Fostering positive social and/or environmental impact, improving livelihoods of underprivileged populations 33,575 None 11/10/2021    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2020-12-30 29,333 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households 29,333 None 10/9/2021    
    Newday Financial Technologies Inc
          		735 Montgomery Street
    San Francisco,CA84111     		2020-12-30 48,000 Increasing access to and awareness of socially-impactful investments   None 11/14/2021    
    Capria Fund LLC
          		815 1st Ave 302
    Seattle,WA89104     		2021-02-12 18,750 Creation of early-stage impact investment funds in emerging markets for the purpose of improving livliehoods of low-income individuals 18,750 None 11/4/22    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2021-03-05 85,333 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households   None      
    Recyclops LLC
          		222 S Main St FL 5
    Salt Lake City,UT84101     		2021-03-12 5,939 Programs to facilitate and assist consumers with recyclying to reduce landfills 5,939 None 11/4/22    
    Elevar Equity III LP
          		220 2nd Ave S Suite 206
    Seattle,WA98104     		2021-04-12 4,000 Increasing access to essential producs and services for disconnected communities 4,000 None 11/4/22    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2021-04-27 168,000 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households   None      
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2021-07-01 33,333 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households   None      
    Capria Fund LLC
          		815 1st Ave 302
    Seattle,WA89104     		2021-08-11 21,250 Creation of early-stage impact investment funds in emerging markets for the purpose of improving livliehoods of low-income individuals 21,250 None 11/4/22    
    University Venture Fund II
          		1655 Campus Center Dr Suite 6123
    Salt Lake City,UT84112     		2021-11-03 26,668 Educating university students in social impact entrepreneurship and promoting community development in low and moderate income households   None      
    Recyclops LLC
          		222 S Main St FL 5
    Salt Lake City,UT84101     		2021-12-21 16,426 Programs to facilitate and assist consumers with recyclying to reduce landfills 16,426 None 11/4/22    

    TY 2021 GeneralExplanationAttachment
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Identifier Return Reference Explanation
    Disclosure Form 5471 The taxpayer is filing form 5471 for its investment in Worldhaus Construction Private, LTD, a company organized in India. Despite repeated inquiries, the taxpayer has not been able to obtain information from the foreign corporation sufficient to complete Form 5471 completely and accurately. Information provided is to the best of the foudnation's knowledge and is complete as possible given the foundation's limited access to information about the foreign corporation.

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Name of Bond End of Year Book Value End of Year Fair Market Value
    JPMorgan Chase & Co 113,103 113,103
    Goldman Sachs Group 85,878 85,878
    Abbvie Inc Note 75,162 75,162
    Alexandria Real Estate EQ Inc Note 42,160 42,160
    American Electric Power Inc Note 63,695 63,695
    American Express Co Note 83,505 83,505
    American Tower Corp Note 8,943 8,943
    American Tower Corp Note 31,858 31,858
    Amgen Inc Note 82,572 82,572
    Anthem Inc Note 88,067 88,067
    AT&T Inc Note 88,529 88,529
    Bank America Corp Note 122,534 122,534
    CitiGroup Inc Note 131,431 131,431
    Comcast Corp Note 129,262 129,262
    CVS Health Corp Note 85,086 85,086
    Enbridge Inc Note 42,166 42,166
    Equinix Inc Note 36,822 36,822
    Eversource Energy Ser R Note 84,800 84,800
    Lowes Cos Inc Note 82,945 82,945
    Merck & CO Note 131,949 131,949
    Microsoft Corp Note 136,833 136,833
    Nextera Energy Cap Holdings Inc Bond 59,931 59,931
    Novartis Capital Corp Note 127,633 127,633
    PNC Finanical Svcs Group Note 85,009 85,009
    Schlumberger Invt SA Note 78,572 78,572
    Shell International Fin BV Note 133,169 133,169
    United Health Group Note 124,034 124,034
    Verizon Communications Inc Note 101,660 101,660
    Aon Corp Note 67,287 67,287
    Boston PPTYS LTD Note 36,680 36,680
    Walt Disney Co Note 135,317 135,317
    Home Depot Inc Note 69,393 69,393
    Lincoln Natl Corp Note 42,197 42,197
    Morgan Stanley Note 82,633 82,633
    PepsiCo Inc Note 133,054 133,054
    Public Svc Enterprise Note 114,066 114,066
    Simon Property Group Note 58,327 58,327
    Equinor ASA Note 125,208 125,208

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Name of Stock End of Year Book Value End of Year Fair Market Value
    PAM TRANSPORTATION SERVICES INC 20,948 20,948
    VANGUARD INDEX FUNDS S&P 500 ETF USD 2,881,362 2,881,362
    CRA INTERNATIONAL INC 32,956 32,956
    LEVEL ONE BANCORP INC COM 26,149 26,149
    ORRSTOWN FINANCIAL SERVICES INC COM NPV 17,413 17,413
    COMTECH TELECOMMUNICATIONS CORP 34,232 34,232
    HURCO CO COM 21,057 21,057
    BAYCOM CORP COM 10,093 10,093
    MISTRAS GROUP INC COM USD0.01 5,238 5,238
    FARMERS NATIONAL BANC CORP COM 25,395 25,395
    USCB FINANCIAL HOLDINGS INC CLASS A COM 18,361 18,361
    BUILD-A-BEAR WORKSHOP INC COM 36,873 36,873
    ISHARES RUSSELL 1000 INDEX FUND 233,492 233,492
    NORTHWEST PIPE CO COM STK USD0.01 51,166 51,166
    LANDEC CORP 21,057 21,057
    FIRST NORTHWEST BANCORP COM USD0.01 24,301 24,301
    UNITY BANCORP INC 25,069 25,069
    ALICO INC 27,069 27,069
    NORTHEAST BK LEWISTON ME COM 45,842 45,842
    SMITH MICRO SOFTWARE INC COM NEW 37,618 37,618
    ONE STOP SYS INC COM 10,791 10,791
    STRATTEC SECURITY CORP 20,694 20,694
    PHOTRONICS INC 51,611 51,611
    KIMBALL ELECTRONICS INC 24,872 24,872
    PROFIRE ENERGY INC 8,380 8,380
    ESQUIRE FINL HLDGS INC COM 47,219 47,219
    NATURAL GAS SVCS GROUP INC COM 26,876 26,876
    BARRETT BUSINESS SVCS INC COM 40,469 40,469
    AXT INC 33,363 33,363
    BGSF INC COM 34,182 34,182
    CIVISTA BANCSHARES INC COM NO PAR 19,471 19,471
    UNIVERSAL ELECTRONICS INC 29,462 29,462
    HAMILTON BEACH BRANDS HLDG CO COM CL A 16,945 16,945
    MANITEX INTERNATIONAL INC 28,359 28,359
    STERLING CONSTR INC COM 29,561 29,561
    RIVERVIEW BANCORP INC COM 26,054 26,054
    INTEST CORP 33,619 33,619
    AMTECH SYSTEMS INC 34,679 34,679
    FIRST BUSINESS FINL SVCS INC W COM 34,975 34,975
    HORIZON BANCORP INC COM 12,552 12,552
    ATLANTIC CAP BANCSHARES INC COM 23,793 23,793
    ASURE SOFTWARE INC 30,662 30,662
    CAPITAL BANCORP INC MD COM 33,300 33,300
    ARC DOCUMENT SOLUTIONS INC 29,344 29,344
    LIFETIME BRANDS INC 33,441 33,441
    TWIN DISC INC 28,354 28,354
    QUANTUM CORP COM NEW 27,600 27,600
    EAGLE BANCORP MONTANA INC COM USD0.01 23,715 23,715
    INTERNATIONAL SEAWAYS INC COM NPV 18,702 18,702
    ZOVIO INC COM 3,961 3,961
    SILVERCREST ASSET MANAGEMENT GROUP INC 27,317 27,317
    LAKELAND INDUSTRIES INC 18,293 18,293
    WEST BANCORPORATION INC 34,146 34,146
    UNIQUE FABRICATING INC COM 5,902 5,902
    PARKE BANCORP INC COM STK USD0.10 29,643 29,643
    METROPOLITAN BK HLDG CORP COM 35,155 35,155
    NN INC COM 10,197 10,197
    DESTINATION XL GROUP INC 16,620 16,620
    HERITAGE INSURANCE HLDGS INC COM 17,040 17,040
    RIMINI STR INC DEL COM 28,089 28,089
    FS BANCORP INC COM 31,444 31,444
    WHOLE EARTH BRANDS INC COM CL A 30,491 30,491
    DHI GROUP INC COM 19,793 19,793
    BOWMAN CONSULTING GROUP LTD COM 20,629 20,629
    DMC GLOBAL INC COM 24,637 24,637
    ACACIA RESEARCH CORP 23,029 23,029
    COOPER-STANDARD HOLDINGS INC 25,278 25,278
    BM TECHNOLOGIES INC CL A COM 22,113 22,113
    LCNB CORP COM NPV 16,444 16,444
    BIOGEN INC COM USD0.0005 31,909 31,909
    VISA INC 213,459 213,459
    HP INC COM 100,508 100,508
    MOODYS CORP COM USD0.01 11,327 11,327
    ISHARES MSCI ISRAEL ETF 86,625 86,625
    TOPICUS COM INC SUB VTG SHS ISIN #CA89072T1021 SEDOL #BNGJNT1 827 827
    JOHNSON CONTROLS INTERNATIONAL PLC COM USD1.00 34,666 34,666
    CHUBB LIMITED COM NPV ISIN #CH0044328745 83,123 83,123
    GLOBAL X FDS MSCI GREECE ETF 89,216 89,216
    GOLDMAN SACHS GROUP INC COM USD0.01 77,017 77,017
    ALPHABET INC CAP STK CL A 11,588 11,588
    WORKDAY INC COM USD0.001 CL A 59,553 59,553
    METLIFE INC COM USD0.01 79,008 79,008
    MARATHON PETROLEUM CORP COM USD0.01 10,137 10,137
    LENNOX INTERNATIONAL INC COM USD0.01 9,731 9,731
    LAM RESEARCH CORP COM USD0.001 33,800 33,800
    ISHARES INC MSCI TURKEY ETF 377 377
    OLD DOMINION FREIGHT LINE INC COM 14,376 14,376
    ALIBABA GROUP HOLDING LTD SPON ADS EACH REP 8 ORD SHS 63,790 63,790
    LOWES COMPANIES INC COM USD0.50 35,852 35,852
    MORGAN STANLEY COM USD0.01 10,405 10,405
    HCA HEALTHCARE INC COM 35,939 35,939
    AUTOMATIC DATA PROCESSING INC COM USD0.10 35,508 35,508
    MASTERCARD INCORPORATED CL A 9,342 9,342
    SYNCHRONY FINANCIAL COM 82,203 82,203
    NVIDIA CORPORATION COM 302,933 302,933
    VERTEX PHARMACEUTICALS INC 104,090 104,090
    ORACLE CORP 75,490 75,490
    MICROSOFT CORP 223,653 223,653
    ISHARES MSCI SOUTH KOREA ETF 82,698 82,698
    TENCENT HOLDINGS LIMITED UNSPON ADR 7,265 7,265
    ISHARES MSCI SINGAPORE ETF 89,452 89,452
    OREILLY AUTOMOTIVE INC COM 38,136 38,136
    UNION PAC CORP COM 35,943 35,943
    COLGATE-PALMOLIVE CO COM USD1.00 52,655 52,655
    CISCO SYSTEMS INC 80,860 80,860
    ISHARES MSCI SPAIN ETF 84,847 84,847
    ALPHABET INC CAP STK CL A 162,234 162,234
    STARBUCKS CORP COM USD0.001 102,232 102,232
    MONSTER BEVERAGE CORP NEW COM 130,326 130,326
    MORGAN STANLEY COM USD0.01 79,878 79,878
    AMAZON.COM INC 260,079 260,079
    NVR INC COM USD0.01 11,818 11,818
    TJX COMPANIES INC 11,084 11,084
    UNION PAC CORP COM 11,337 11,337
    REGENERON PHARMACEUTICALS INC 125,672 125,672
    ARCH CAPITAL GROUP COM STK USD0.01 11,246 11,246
    INTEL CORP COM USD0.001 83,224 83,224
    CHARTER COMMUNICATIONS INC NEW CL A 32,599 32,599
    META PLATFORMS INC CLASS A COMMON STOCK 11,100 11,100
    NOVARTIS AG SPONSORED ADR 102,165 102,165
    DEERE & CO 13,716 13,716
    METLIFE INC COM USD0.01 10,791 10,791
    AUTODESK INC 169,276 169,276
    HEICO CORP NEW COM 10,528 10,528
    DEERE & CO 33,158 33,158
    ISHARES MSCI TAIWAN ETF 99,449 99,449
    DEERE & CO 105,610 105,610
    CAPITAL ONE FINANCIAL CORP COM USD0.01 78,766 78,766
    SHERWIN-WILLIAMS CO 35,979 35,979
    DISNEY WALT CO COM 143,428 143,428
    ALPHABET INC CAP STK CL C 162,041 162,041
    YUM! BRANDS INC 57,905 57,905
    APPLIED MATERIALS INC COM USD0.01 83,380 83,380
    SEI INVTS CO COM 54,541 54,541
    ORACLE CORP 179,565 179,565
    S&P GLOBAL INC COM 11,798 11,798
    TRANSDIGM GROUP INC 10,817 10,817
    GOLDMAN SACHS GROUP INC COM USD0.01 11,672 11,672
    ROSS STORES INC 8,914 8,914
    ILLUMINA INC COM USD0.01 125,926 125,926
    OREILLY AUTOMOTIVE INC COM 13,418 13,418
    VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT ETF 1,308,515 1,308,515
    CUMMINS INC 32,286 32,286
    BANK OF NEW YORK MELLON CORP COM USD0.01 34,083 34,083
    QUALCOMM INC 111,734 111,734
    ISHARES MSCI AUSTRIA ETF 106,553 106,553
    SCHLUMBERGER LIMITED COM USD0.01 55,288 55,288
    BOEING CO COM USD5.00 185,214 185,214
    ANTHEM INC 89,246 89,246
    ANTHEM INC 13,517 13,517
    EXPEDITORS INTERNATIONAL OF WASHINGTON INC 12,220 12,220
    BEST BUY CO INC COM USD0.10 21,539 21,539
    NOVO NORDISK A/S ADR-EACH CNV INTO 1 CLASS B DKK1 49,840 49,840
    MGM RESORTS INTERNATIONAL COM USD0.01 77,602 77,602
    CUMMINS INC 8,346 8,346
    EXPEDITORS INTERNATIONAL OF WASHINGTON INC 95,480 95,480
    NUCOR CORP COM USD0.40 86,069 86,069
    BOOKING HOLDINGS INC COM 9,597 9,597
    CONSTELLATION SOFTWARE INC COM ISIN #CA21037X1006 SEDOL #B15C4L6 11,148 11,148
    VISA INC 9,319 9,319
    UBIQUITI INC COM 10,735 10,735
    CHIPOTLE MEXICAN GRILL INC 12,238 12,238
    NUCOR CORP COM USD0.40 11,872 11,872
    SALESFORCE.COM INC COM USD0.001 159,594 159,594
    AUTOZONE INC COM USD0.01 12,578 12,578
    TARGET CORP 31,375 31,375
    ISHARES INC MSCI NETHERL ETF 79,498 79,498
    ISHARES MSCI MEXICO ETF 103,230 103,230
    LOWES COMPANIES INC COM USD0.50 13,228 13,228
    HP INC COM 13,427 13,427
    EBAY INC. COM 30,942 30,942
    YUM CHINA HLDGS INC COM 28,409 28,409
    AMETEK INC COM 11,028 11,028
    META PLATFORMS INC CLASS A COMMON STOCK 248,226 248,226
    ROCHE HOLDINGS ADR 103,914 103,914
    INTUITIVE SURGICAL INC 60,003 60,003
    APPLIED MATERIALS INC COM USD0.01 12,452 12,452
    MARATHON PETROLEUM CORP COM USD0.01 35,070 35,070
    GLOBAL X FDS MSCI NORWAY ETF 95,892 95,892
    FACTSET RESEARCH SYSTEMS INC 76,304 76,304
    JOHNSON CONTROLS INTERNATIONAL PLC COM USD1.00 11,671 11,671
    KROGER CO COM USD1.00 38,069 38,069
    KRANESHARES TR CSI CHINA INTERNET ETF 4,634 4,634
    VANGUARD REAL ESTATE ETF 332,717 332,717
    TARGET CORP 153,445 153,445
    INTEL CORP COM USD0.001 98,777 98,777
    CHEVRON CORP NEW COM 108,079 108,079
    BLACKROCK INC COM USD0.01 194,099 194,099
    PAYCHEX INC COM USD0.01 132,132 132,132
    MICROSOFT CORP 158,407 158,407
    APPLE INC 260,673 260,673
    JOHNSON &JOHNSON COM USD1.00 156,871 156,871
    PROGRESSIVE CORP COM 126,773 126,773
    CINCINNATI FINANCIAL CORP COM USD2.00 83,283 83,283
    BERKSHIRE HATHAWAY INC COM USD0.0033 CLASS B 159,068 159,068
    ALTRIA GROUP INC 100,941 100,941
    TEXAS INSTRUMENTS INC COM USD1.00 192,993 192,993
    CISCO SYSTEMS INC 140,238 140,238
    NORFOLK SOUTHN CORP COM 164,931 164,931
    VERIZON COMMUNICATIONS INC 89,059 89,059
    PHILIP MORRIS INTERNATIONAL INC COM NPV 82,555 82,555
    FASTENAL COM STK USD0.01 118,063 118,063
    UNITED PARCEL SERVICE INC 163,541 163,541
    DIAGEO ADR EACH REPR 4 ORD GBX28.935185 152,997 152,997
    DOMINION ENERGY INC COM 133,473 133,473
    AIR PRODUCTS AND CHEMICALS INC 149,087 149,087
    PFIZER INC 145,794 145,794
    NESTLE ADR 102,243 102,243
    COMCAST CORP 96,684 96,684
    FRANKLIN RESOURCES INC COM 54,689 54,689
    LOWES COMPANIES INC COM USD0.50 227,204 227,204
    MERCK &CO. INC COM 101,778 101,778
    NINTENDO 8 ADR REP ORD 84,735 84,735
    GOLDMAN SACHS GROUP INC COM USD0.01 250,188 250,188
    NETFLIX INC 278,327 278,327
    LIBERTY BROADBAND CORP COM SER C 141,607 141,607
    DISH NETWORK CORPORATION CL A 100,337 100,337
    CAPITAL ONE FINANCIAL CORP COM USD0.01 88,940 88,940
    AMAZON.COM INC 390,118 390,118
    MARRIOTT INTERNATIONAL INC COM USD0.01 CLASS A 264,219 264,219
    UNITEDHEALTH GROUP INC 260,109 260,109
    PROSUS N.V. SPON ADR EACH REP 0.20 ORD SHS 55,775 55,775
    NASPERS SPON ADR EACH REP 0.2 CL N SHS(POST SPLT 23,109 23,109
    AERCAP HOLDINGS N.V. EUR0.01 71,308 71,308
    WOODWARD INC COM 35,356 35,356
    META PLATFORMS INC CLASS A COMMON STOCK 410,683 410,683
    GENERAL MTRS CO COM 112,980 112,980
    MICROSOFT CORP 569,726 569,726
    HILTON WORLDWIDE HLDGS INC 196,547 196,547
    SAFRAN SA UNSPON ADR EA REP 0.25 ORD 84,294 84,294
    VISA INC 66,963 66,963
    DISNEY WALT CO COM 97,116 97,116
    COMCAST CORP 244,704 244,704
    WELLS FARGO CO NEW COM 163,228 163,228
    CITIGROUP INC 226,764 226,764
    ALPHABET INC CAP STK CL C 610,547 610,547
    WILLIS TOWERS WATSON PLC COM USD0.000304635 83,596 83,596
    EVOLUTION AB ADR 40,914 40,914
    GENERAL ELECTRIC CO COM NEW 228,712 228,712
    LIBERTY BROADBAND CORP COM SER A 158,004 158,004
    AON PLC SHS CL A COM USD0.01 238,044 238,044
    MORGAN STANLEY COM USD0.01 242,553 242,553
    LYONDELLBASELL INDUSTRIES N V COM EUR0.04 CLASS A 48,236 48,236
    ANTHEM INC 197,005 197,005
    IAC INTERACTIVECORP NEW COM NEW 31,763 31,763
    PAX GLOBAL OPPORTUNITIES I 1,154,266 1,154,266
    VANGUARD INFLATION PROCTED SEC ADM CL 1,294,396 1,294,396
    INVESCO DEVELOPING MARKETS Y 1,738,872 1,738,872
    JOHCM INTERNATIONAL SELECT INSTL 2,885,047 2,885,047
    EATON VANCE ATLANTA CAP SMID CAP FD I 4,176,204 4,176,204
    GMO EMERGING MARKETS FUND I 1,874,270 1,874,270
    BLACKROCK GLOBAL IMPACT FUND I 883,627 883,627
    GMO CLIMATE CHANGE FUND CL I 755,428 755,428
    PIMCO COMMODITY REAL RETURN INST 580,520 580,520
    GOLDMAN SACHS GQG PARTNERS INTL OPP I 2,689,866 2,689,866
    GREAT AJAX CORP COM 37,256 37,256
    GLOBAL MED REIT INC COM NEW 23,909 23,909
    ALPINE INCOME PPTY TR INC COM 34,769 34,769
    EQUITY LIFESTYLE PROPERTIES INC 12,623 12,623
    AMERICAN TOWER CORP NEW COM 11,408 11,408
    SBA COMMUNICATIONS CORP NEW CL A 12,838 12,838
    CROWN CASTLE INTL CORP NEW COM ISIN #US22822V1017 SEDOL #BTGQCX1 180,560 180,560

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    US Government Securities - End of Year Book Value:

    1,957,697
    US Government Securities - End of Year Fair Market Value:

    1,957,697
    State & Local Government Securities - End of Year Book Value:


    1,490,310
    State & Local Government Securities - End of Year Fair Market Value:


    1,490,310


    TY 2021 InvestmentsOtherSchedule2
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SLP IV Technology Fund FMV 921,923 921,923
    CSP III Distressed Opp Fund FMV 47,738 47,738
    Blackstone Strategic Partners LP FMV 148,068 148,068
    Sorenson Capital III LP AT COST 57,839 57,839
    Catchafire Inc AT COST 125,195 125,195
    LS Real Estate Recovery IV Trust FMV 58,689 58,689
    Czech III Senior Loan Trust FMV 418,309 418,309
    Turner-Agassi Educational Facilities FMV 166,234 166,234
    Unitus Capital AT COST 250,000 250,000
    Sepio NPL Fund AT COST 177,445 177,445
    Advanced Trade Growth Fund AT COST 1,445,865 1,445,865
    Sepio Capital Partners AT COST 933,524 933,524
    Rose Affordable Housing Fund AT COST 127,900 127,900
    Bridge Workforce & Affordable Housing Fund AT COST 113,945 113,945
    FutureFit AI Corp AT COST 125,000 125,000
    GMO Systematic Global Macro Fund AT COST 1,500,000 1,500,000
    GMO Dislocation Fund AT COST 1,525,000 1,525,000
    Sorenson Capital Partners IV-B AT COST 250,280 250,280

    TY 2021 LegalFeesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Legal 148,424 0   148,424


    TY 2021 OtherAssetsSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    Program related investments 4,296,134 4,300,561 4,300,561


    TY 2021 OtherExpensesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Bank charges 240 120   120
    Office expense 456 228   228


    TY 2021 OtherIncomeSchedule2
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Passthrough income 246,899 -60,188 0


    TY 2021 OtherIncreasesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Description Amount
    Unrealized appreciation 244,036


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment advisory fees 256,220 256,220   0


    TY 2021 TaxesSchedule
    Name:
    James Lee Sorenson Family Foundation
    EIN:
    45-6794415
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Federal taxes 65,412 0   0
    Foreign taxes 5,159 32,747   0