Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
THE CIELO FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)6658 GUNPARK DRIVE 202A
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BOULDER, CO80301
A Employer identification number

26-1166378
B Telephone number (see instructions)

(303) 449-4707
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$105,046,934J 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) 33,013
2 Check bullet.............
3 Interest on savings and temporary cash investments 947,821 947,821  
4 Dividends and interest from securities... 915,538 879,362  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 6,464,878
b Gross sales price for all assets on line 6a 30,507,420
7 Capital gain net income (from Part IV, line 2)... 6,464,878
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 -696,062 -696,062  
12 Total. Add lines 1 through 11........ 7,665,188 7,595,999  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 60,000 0   30,000
14 Other employee salaries and wages...... 27,239 0   13,619
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 32,000 32,000   0
c Other professional fees (attach schedule).... Click to see attachment 452,259 451,116   572
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 54,072 45,631   4,221
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 303,667 293,647   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 929,237 822,394   48,412
25 Contributions, gifts, grants paid....... 6,553,863 6,553,863
26 Total expenses and disbursements. Add lines 24 and 25 7,483,100 822,394   6,602,275
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 182,088
b Net investment income (if negative, enter -0-) 6,773,605
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............. 9,204 6,414 6,414
2 Savings and temporary cash investments......... 2,355,562 3,967,803 3,967,803
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)      
b Investments—corporate stock (attach schedule)....... 27,790,122 Click to see attachment16,695,878 25,570,000
c Investments—corporate bonds (attach schedule)....... 30,856,708 Click to see attachment27,404,084 30,191,645
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 29,434,736 Click to see attachment42,594,583 44,461,072
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment850,000 Click to see attachment850,000 Click to see attachment850,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 91,296,332 91,518,762 105,046,934
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment39,417 Click to see attachment112,080
23 Total liabilities (add lines 17 through 22)......... 39,417 112,080
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 91,256,915 91,406,682
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 91,256,915 91,406,682
30 Total liabilities and net assets/fund balances (see instructions). 91,296,332 91,518,762
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
91,256,915
2
Enter amount from Part I, line 27a .....................
2
182,088
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
91,439,003
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
32,321
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
91,406,682
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 SHORT TERM SALES - 7561 P    
b LONG TERM SALES - 7561 P    
c CALVERT EMERGING MARKETS P    
d SHORT TERM SALES - 3476 P    
e LONG TERM SALES - 3476 P    
SHORT TERM SALES - 3477 P    
LONG TERM SALES - 3477 P    
SHORT TERM SALES - 3478 P    
LONG TERM SALES - 3478 P    
SHORT TERM SALES - 5554 P    
LONG TERM SALES - 5554 P    
SHORT TERM SALES - 2479 P    
LONG TERM SALES - 2479 P    
EDGE PRINCIPAL INVESTMENTS IV, LP D    
EDGE PRINCIPAL INVESTMENTS II, LP D    
EDGE PRINCIPAL INVESTMENTS III, LP D    
GMB MEZZANINE CAPITAL II D    
GMB MEZZANINE CAPITAL II D    
HGI BSW FUND III D    
NEW SUMMIT IMPACT FUND II-B D    
NEW SUMMIT IMPACT FUND II-B D    
HGI OPPORTUNITY SELECT FUND IV D    
LS POWER PARTNERS II D    
CAPITAL LOSS ON DISSOLUTION OF HGI BSW FUND I D    
CAPITAL LOSS ON DISSOLUTION OF MIMG XLI SHERWOOD FOREST D    
EDGE PRINCIPAL INVESTMENTS II 1231 LOSS D    
EDGE PRINCIPAL INVESTMENTS III 1231 GAIN D    
GMB MEZZANINE CAPITAL II 1231 LOSS D    
MIMG XLI SHERWOOD FOREST 1231 GAIN D    
MIMG BSW FUND II 1231 GAIN D    
LS POWER PARTNERS II 1231 GAIN D    
LS POWER FUND III FEEDER 1231 GAIN D    
HGI OPPORTUNITY SELECT FUND IV 1231 GAIN D    
(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 108,974   59,687 49,287
b 3,714,797   2,585,044 1,129,753
c 28,427   21,099 7,328
d 111,552   109,891 1,661
e 1,137,662   1,136,060 1,602
10,020   10,012 8
155,000   155,689 -689
464,678   459,892 4,786
551,295   544,262 7,033
13,037,333   11,643,618 1,393,715
5,348,563   4,054,235 1,294,328
253,182   219,212 33,970
3,462,413   2,092,620 1,369,793
54,859     54,859
260,695     260,695
41,424     41,424
1     1
92,199     92,199
123     123
2,736     2,736
18,489     18,489
602     602
    643,048 -643,048
    241,314 -241,314
    37,296 -37,296
    29,528 -29,528
706,156     706,156
    35 -35
152,118     152,118
52,725     52,725
228,999     228,999
364,838     364,838
147,560     147,560
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       49,287
b       1,129,753
c       7,328
d       1,661
e       1,602
      8
      -689
      4,786
      7,033
      1,393,715
      1,294,328
      33,970
      1,369,793
      54,859
      260,695
      41,424
      1
      92,199
      123
      2,736
      18,489
      602
      -643,048
      -241,314
      -37,296
      -29,528
      706,156
      -35
      152,118
      52,725
      228,999
      364,838
      147,560
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 6,464,878
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 94,153
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 94,153
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 77,532
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 100,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 177,532
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 83,379
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet83,379 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)
    bulletCO
    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 addressbulletNA
    14
    The books are in care ofbulletDANETTE TYE Telephone no.bullet (303) 449-4707

    Located atbullet6658 GUNPARK DRIVE SUITE 202ABOULDERCO ZIP+4bullet80301
    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)
     
    No
    (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)
     
    No
    (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
     
     
    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
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    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
    ALAN COGEN VICE PRESIDENT
    3.00     		30,000 0 0
    6658 GUNPARK DRIVE 202A
    BOULDER,CO80301
    JUDITH COGEN PRESIDENT
    3.00     		30,000 0 0
    435 OAKWOOD PLACE
    BOULDER,CO80304
    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
    NONE
    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  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    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
    100,779,177
    b
    Average of monthly cash balances.......................
    1b
    2,684,844
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    103,464,021
    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
    103,464,021
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    1,551,960
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    101,912,061
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    5,095,603
    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
    5,095,603
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    94,153
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    94,153
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    5,001,450
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    5,001,450
    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
    5,001,450
    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 5,001,450
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 239,092
    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$ 6,602,275
    a Applied to 2020, but not more than line 2a 239,092
    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..... 5,001,450
    e Remaining amount distributed out of corpus 1,361,733
    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 1,361,733
    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 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 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 ......     		1,361,733
    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.... 1,361,733
    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).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    CIELO SCHOLARSHIP FUND
    6658 GUNPARK DRIVE SUITE 202A
    BOULDER,CO80301
    (303) 449-4707
    bThe form in which applications should be submitted and information and materials they should include:
    NAME/GENERAL INFO NAME OF SCHOOL AND/OR CERTFICATE OF INTEREST APPROXIMATE COST OF PROGRAM AND BOOKS PROGRAM START AND END DATE ESSAY PROMPT RESPONSE LETTERS OF RECOMMENDATION FASFA, LATEST YEAR TAX RETURN OR PREVIOUS YEAR FINANCIAL STATEMENTS OTHER INFORMATION AVAILABLE UPON REQUEST
    cAny submission deadlines:
    N/A
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NEEDS BASED, AMOUNT OF SCHOLARSHIP NOT TO EXCEED $20,000, FOR TRADE SCHOOL CANDIDATES (RATHER THAN TRADITIONAL COLLEGE), RECIPIENTS MUST ATTEND CLASS, RECEIVE PASSING GRADES AND A CERTIFICATE OF COMPLETION
    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
    FIDELITY CHARITABLE GIFT FUND
    101 CROSBY PARKWAY
    COVINGTON,KY41015     		NA PC DONATION 6,400,000
    FRONT RANGE COMMUNITY COLLEGE
    3645 W 112TH AVE
    WESTMINSTER,CO80031     		NA PC SCHOLARSHIP 3,294
    LATINO LEADERSHIP INSTITUTE
    2199 S UNIVERSITY BLVD
    DENVER,CO80208     		NA PC SCHOLARSHIP 3,500
    IBMC COLLEGE
    3842 S MASON ST
    FORT COLLINS,CO80525     		NA PC SCHOLARSHIP 57,000
    AIMS COMMUNITY COLLEGE
    5401 20TH ST
    GREELEY,CO80634     		NA PC SCHOLARSHIP 913
    NATIONAL SCHOOL OF DENTAL ASSISTING
    PO BOX 137
    TAHOE CITY,CA96145     		NA PC SCHOLARSHIP 3,495
    PIMA
    7475 DAKIN ST
    DENVER,CO80221     		NA PC SCHOLARSHIP 18,000
    LINCOLN COLLEGE OF TECHNOLOGY
    11194 E 45TH AVE
    DENVER,CO80239     		NA PC SCHOLARSHIP 18,000
    TECHTONIC GROUP INC
    2000 CENTRAL AVE SUITE 100
    BOULDER,CO80301     		NA CORPORATION SCHOLARSHIP 50,000
    EMILY GRIFFITH TECHNICAL COLLEGE
    1860 LINCOLN ST 3RD FLOOR
    DENVER,CO80203     		NA PC SCHOLARSHIP -5,102
    COMMUNITY COLLEGE OF AURORA
    710 ALTON WAY
    DENVER,CO80230     		NA PC SCHOLARSHIP 3,592
    KINGSBOROUGH COMMUNITY COLLEGE
    2001 ORIENTAL BOULEVARD
    BROOKLYN,NY112352398     		NA PC SCHOLARSHIP 1,171
    Total .................................bullet 3a 6,553,863
    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 ...........     		    14 947,821  
    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 6,464,878  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aEDGE PRINCIPAL INVESTMENTS II, LLC PASSTHROUGH INCOME     		    34 -8,177  
    bEDGE PRINCIPAL INVESTMENTS II, LLC PASSTHROUGH RENTAL INCOME     34 -4,736  
    cEDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH INCOME     34 96,369  
    dEDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH RENTAL INCOME     34 -1,109,328  
    eEDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH INCOME     34 -7,066  
    fEDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH RENTAL INCOME     34 19,001  
    gEDGE PRINCIPAL INVESTMENTS, LLC PASSTHROUGH INCOME     34 1,674  
    hEDGE PRINCIPAL INVESTMENTS, LLC PASSTHROUGH RENTAL INCOME     34 -3,687  
    iGMB MEZZANINE CAPITAL II PASSTHROUGH INCOME     34 4,583  
    jHGI BSW FUND I PASSTHROUGH RENTAL INCOME     34 -946  
    kHGI BSW FUND II PASSTHROUGH RENTAL INCOME     34 -773  
    lHGI BSW FUND III PASSTHROUGH RENTAL INCOME     34 -6,889  
    mHGI OPPORTUNITY SELECT FUND IV PASSTHROUGH INCOME     34 110  
    nHGI OPPORTUNITY SELECT FUND IV PASSTHROUGH RENTAL INCOME     34 -4,119  
    oLS POWER FUND III FEEDER 1 PASSTHROUGH INCOME     34 290,475  
    pLS POWER FUND III FEEDER 1 PASSTHROUGH RENTAL INCOME     34 -77,486  
    qLS POWER PARTNERS II PASSTHROUGH INCOME     34 81,099  
    rMIMG BSW FUND II PASSTHROUGH RENTAL INCOME     34 20,425  
    sMIMG BSW FUND III PASSTHROUGH RENTAL INCOME     34 14,613  
    tMIMG XL HARBOR POINTE PASSTRHOUGH RENTAL INCOME     34 -1,519  
    12 Subtotal. Add columns (b), (d), and (e) .. 0 7,632,175 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    7,632,175
    (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
    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
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    THE CIELO FOUNDATION
     
    Employer identification number

    26-1166378
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    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
    Special Rules
    ......... 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
    THE CIELO FOUNDATION
          		Employer identification number
    26-1166378
    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
    ESTATE OF LEE COGEN
     
    435 OAKWOOD PLACE
     
    BOULDER, CO80304

    		$ 33,013


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    THE CIELO FOUNDATION
          		Employer identification number

    26-1166378
    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
    THE CIELO FOUNDATION
          		Employer identification number

    26-1166378
    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 $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use 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 (c) Use 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 (c) Use 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 (c) Use 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:  

    TY 2021 AccountingFeesSchedule
    Name:
    THE CIELO FOUNDATION
    EIN:
    26-1166378
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 32,000 32,000   0

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    THE CIELO FOUNDATION
    EIN:
    26-1166378
    Name of Bond End of Year Book Value End of Year Fair Market Value
    NEW YORK ST DORM AUTH 11,546 12,553
    NEW YORK ST DORM AUTH 66,725 72,506
    OREGON ST GO BDS SER 75,006 82,158
    ONTARIO CALIF INTL ARPT AUTH REV 249,565 262,600
    ONONDAGA NY CIVIC DEV CORP 245,016 250,392
    ONTARIO CALIF PENSION OBLIG 37,383 37,271
    NEW YORK ST URBAN DEV CORP 313,437 334,886
    NEW YORK ST MTG 130,008 134,811
    WILLIAMSON JACKSON ETC 53,396 58,260
    WORCESTER MASS G.O. BDS 22,060 22,829
    NORRISTOWN PA TAXABLE GO 80,017 83,680
    OVID ELSIE MICH AREA SCHS TAZABLE GO ULTD 50,011 51,948
    NORTH CAROLINA EASTN MUN PWR AGY 95,206 96,449
    NORTHERN ARIZ UNIV REVS TAXABLE 136,914 145,751
    NORTHERN ARIZ UNIV REVS TAXABLE 238,325 253,715
    WHITTIER CALIF REDEV 26,063 27,725
    NUSHARES ETF TR ESG 68,646 139,092
    OCONTO WIS WATER WORKS 312,688 314,765
    NEWARK NJ GO BDS SER 65,370 68,115
    WESTERN PLACER CALIF UNI SCH 14,919 15,616
    NEW YORK ST MTG 83,819 83,796
    NEW YORK ST MTG 55,009 58,199
    NEW YORK ST MTG 215,012 226,494
    STATE PUB SCH BLDG 149,196 152,382
    WEST MIFFLIN PA GO TAXABLE BDS SER 10,012 10,618
    SANTA CLARA VY CALIF WTR DIST WTR SYS REV 60,010 66,343
    SANTA PAULA CALIF UTIL AUTH WASTEWTR 45,011 47,040
    TULSA OKLA ARPTS IMPT TR GENL REV 86,107 89,747
    TULARE CNTY CALIF PENSION OBLIG 27,107 28,126
    SCHENECTADY NY METROPLEX DEV 105,012 112,049
    TRANSBAY JT PWRS AUTH 10,007 10,284
    TOLEDO HOSPITAL 132,875 135,372
    SEMITROPIC IMPT DIST 55,010 58,023
    TMC3 DEV CORP 14,001 14,018
    SHREVEPORT LA ARPT SYS 31,864 32,281
    SMITHSONIAN INSTITUTION 25,280 24,597
    SOUTH DAKOTA ST HEALTH & EDL 35,016 37,334
    SOUTH GATE CALIF ITIL WTR REV 55,011 58,219
    SOUTH JERSEY TRANSN AUTH N J TRANSN SYS 14,936 15,884
    SOUTH JERSEY TRANSN AUTH N J TRANSN SYS 54,542 58,499
    SYLACAUGA ALA GO WTS SER 14,257 15,764
    STOCKTON CALIF PUB 100,014 107,148
    STEPHEN F AUSTIN ST UNIV TEX 185,014 202,799
    SAN LUIS UNIT/WESTLANDS WTR 61,769 63,457
    SAN DIEGO CALIF TOB SETTLEMENT 24,954 26,354
    PARTNERS GROUP PRIVATE EQUITY 3,550,000 5,205,430
    WATSON PHARMACEUTICALS INC 10,116 10,090
    PENN HILLS PA 96,586 106,448
    PENNSYLVANIA ECONOMIC DEV 15,009 15,790
    PENNSYLVANIA ECONOMIC DEV 97,811 99,173
    PENNSYLVANIA ECONOMIC DEV 110,849 112,216
    PENNSYLVANIA ST TPK COMMN OIL FRANCHISE 19,828 20,906
    PHILADELPHIA PA REDEV AUTH 46,541 51,608
    POMONA CALIF PENSION OBLIG 20,018 21,531
    VINELAND N J ELEC UTIL 105,013 110,993
    PUBLIC FIN AUTH WIS REV 125,511 128,870
    READING PA TAXABLE GO BDS 205,015 211,540
    READING PA TAXABLE GO BDS 30,014 31,584
    STATE PUB SCH BLDG 100,016 102,187
    RHODE ISLAND HSG & MTG FIN CORP TAXABLE 30,010 29,465
    SAN DIEGO CALIF REDEV 56,785 59,760
    SALES TAX SECURIZATION CORP 70,910 84,319
    SACRAMENTO CALIF PENSION 55,849 58,624
    UNIVERSIRT CALIF REVS GEN REV BDS 100,284 104,786
    UNIVERSITY SOUTH ALA UNIV 270,015 300,783
    UNIVERSITY TEX UNIV REV 163,282 176,572
    UNIVERSITY TEX UNIV REV 32,904 35,729
    UTAH ST BRD REGENTS 49,646 52,708
    RIVERSIDE CNTY CALIF 11,207 11,128
    RHODE ISLAND ST COMM CORP REV FEDERALLY 30,010 32,142
    UNIVERSITY SOUTH ALA UNIV 45,009 47,653
    NEW YORK N Y CITY 55,008 57,122
    COOK AND WILL CNTYS ILL CMNTY 70,669 76,801
    CONNECTICUT ST HSG FIN AUTH 100,014 105,748
    CONNECTICUT ST GO BDS 231,763 237,965
    CONNECTICUT ST GO BDS 226,613 232,676
    CONNECTICUT ST GO BDS 51,505 52,881
    CONNECTICUT ARPT AUTH CUSTOMER FAC 15,304 16,199
    CONNECTICUT ARPT AUTH CUSTOMER FAC 15,217 16,171
    CRESTWOOD VLG ILL TAXABLE 30,010 31,861
    COMMONSPIRIT HEALTH 2019 BOND 41,902 42,573
    COLUMBUS FRANKLIN CNTY OHIO FIN AUTH 175,693 188,703
    COLUMBUS FRANKLIN CNTY OHIO FIN AUTH 134,355 144,303
    COLUMBUS FRANKLIN CNTY OHIO FIN AUTH 53,380 55,063
    COLORADO HEALTH FACS AUTH 10,090 10,971
    COMMUNITY CAPITAL TRUST INSTL 6,306,415 6,334,561
    DETROIT MICH CITY SCH 32,630 27,151
    DOUGLAS CNT NEB SCH 71,548 70,277
    HAMDEN CONN TAXABLE GO 27,960 27,690
    NEW YORK N Y CITY TRANSITIONAL FIN 20,009 20,459
    GOLDMAN SACHS BK 250,000 254,695
    GARY IND CMNT SCH BLDG 120,015 129,325
    GARDENA CALIF PENSION OBLIG 10,011 10,332
    GARDENA CALIF PENSION OBLIG 25,009 26,070
    FISHERS IND ECONOMIC DEV REV 25,824 26,735
    FAYETTEVILLE GA PUB 70,012 74,213
    EVERGREEN PARK ILL GO TAXABLE BDS 58,788 62,503
    EVERGREEN PARK ILL GO TAXABLE BDS 53,444 56,821
    EAST PEORIA ILL GO BDS 182,963 186,975
    CINCINNATI OHIO CNTY SCHOOL 10,732 10,932
    HAMDEN CONN TAXABLE GO 65,010 67,062
    CHOWCHILLA CALIF TAXABLE PENSION OBLI 255,010 264,981
    BIOGEN INC NOTE 175,629 178,747
    BIOGEN INC NOTE 55,199 56,178
    BAYONNE N J GENERAL IMPT 74,658 79,079
    BALDWIN PK CALIF PENSION OBLIG 61,078 67,232
    BALDWIN PK CALIF PENSION OBLIG 245,011 263,223
    ARKANSAS RIVER PWR AUTH 106,695 108,403
    ARIZONA INDL DEV AUTH 50,437 51,056
    AMERICAN WTR CAP CORP 33,822 37,029
    ALLENTOWN PA CITY SCH DIST 15,017 16,005
    ALLENTOWN PA CITY SCH DIST 225,010 233,318
    ALLENTOWN PA CITY SCH DIST 150,010 150,227
    ALLENTOWN PA CITY SCH DIST 10,009 10,193
    ALABAMA CMNTY COLLEGE 119,330 123,713
    AKRON OHIO CTFS 40,012 40,629
    ARIZONA BRD REGENTS UNIV 245,016 274,922
    BOONE MCHENRY & DEKALB CNTYS ILL 260,015 269,698
    BRIDGEPORT CONN TAXABLE GO 20,576 21,353
    CHOWCHILLA CALIF TAXABLE PENSION OBLI 35,008 36,761
    CHICAGO ILL MIDWAY ARPT REV 46,212 48,641
    CHICAGO ILL GO BDS SER 2015 54,260 61,475
    CHICAGO ILL GO BDS SER 2015 147,721 163,933
    CELGENE CORP 55,110 58,946
    CATHOLIC HEALTH INITIATIVES BOND 14,854 15,281
    CAPISTRANO CALIF UNI SCH DIST CTFS PARTN 50,537 54,430
    CAMBRIA CNTY PA TAXABLE 35,009 36,353
    CALIFORNIA ST GO BDS 240,452 267,804
    CALIFORNIA INFRASTRUCTURE 180,015 196,040
    CALEXICO CALIF CMNTY REDEV 40,011 43,626
    CALEXICO CALIF CMNTY REDEV 120,015 130,878
    BUNGE LTD FIN 187,429 202,067
    BUFFALO ST COLLEGE FNDTN 40,982 40,482
    BROOKHAVEN NY LOC 99,155 103,451
    CHRISTUS HEALTH 105,086 113,242
    HAMILTON OHIO CMTY 255,014 266,404
    GRANITE CITY ILL TAXABLE GO BDS SER 102,389 108,380
    HAWAIIAN GARDENS CALIF REDEV AGY 268,784 299,008
    MICHIGAN FIN AUTH REV 40,014 43,020
    MIAMI GARDENS FLA CTFS 62,178 64,536
    METROPOLITAN PIER & EXPO 10,451 10,609
    MATTESON ILL GO DEBT 26,099 30,311
    MASSACHUSETTS ST GO BDS 29,913 29,919
    MASSACHUSETTS ST DEV FIN 55,005 61,557
    MASSACHUSETTS ST DEV FIN 27,262 27,755
    MARYLAND ST HEALTH & HIGHER EDL 34,079 36,734
    MARSHFIELD CLINIC HLTH SYS INC 45,201 45,941
    MARIN CALIF CMTY COLLEGE DIST GO BDS 315,014 353,745
    MARIN CALIF CMTY COLLEGE DIST GO BDS 245,011 273,249
    LYNN HAVEN FLA REV 39,439 40,196
    LYNN HAVEN FLA REV 49,244 50,251
    LOUISIANA ST UNIV & AGRIC & MECHANICAL 195,010 201,858
    LOUISIANA LOC GOVT ENVIRONMENTAL FACS 25,839 25,419
    LOS ANGELES CNTY CALIF REDEV 51,483 52,151
    HAMILTON TWP MERCER CNTY N J SWR UTIL GO 51,231 53,788
    LAS CRUCES N MEX ST SHARED GROSS RCPTS 50,027 50,088
    LANSING MICH TAX INCREMENT FIN AUTH 130,012 135,723
    LAKE CNTY ILL CMTY UNIT 55,742 58,359
    LAKE CNTY ILL CMTY UNIT 50,546 55,694
    MINNESOTA ST HSG FIN AGY 25,002 25,295
    MINNESOTA ST HSG FIN AGY 15,001 15,177
    NEW YORK N Y CITY 20,009 20,989
    NEW JERSEY ST EDL FACS AUTH 147,067 149,885
    NEW JERSEY ECONOMIC DEV 19,934 19,993
    NEW JERSEY ECONOMIC DEV 14,921 15,942
    NEW JERSEY ECONOMIC DEV 124,221 131,967
    NEW HAVEN CONN GO 41,003 45,288
    NEW HAVEN CONN FEDERALLY TAXABLE GO 80,177 83,281
    NEW HAVEN CONN FEDERALLY TAXABLE GO 205,988 226,438
    NEW HAVEN CONN FEDERALLY TAXABLE GO 22,194 22,708
    LAKE CNTY ILL CMTY UNIT 45,871 49,854
    MT VERNON IND SCH BLDG CORP 65,014 66,099
    MOULTON ALA WTR WKS BRD 51,266 50,000
    MOULTON ALA WTR WKS BRD 51,266 50,000
    MOSAIC CO 20,068 20,387
    MOSAIC CO 25,097 25,484
    MONTEREY CNTY CALIF REGL FIRE DIST 105,010 110,542
    MONTEBELLO CALIF UNI SCH 55,893 55,233
    MONTEBELLO CALIF PENSION OBLIG 100,073 99,997
    LOS ANGELES CALIF UNI SCH DIST GO BDS 124,865 133,156
    ILLINOIS ST GO BDS SER 2019 15,119 17,650
    ILLINOIS ST GO BDS SER 2019 58,998 66,100
    ILLINOIS ST GO BDS SER 2019 100,739 117,948
    ILLINOIS ST GO BDS SER 2019 21,460 24,036
    ILLINOIS ST GO BDS SER 2013 10,987 11,421
    ILLINOIS ST GO BDS 80,635 87,540
    ILLINOIS ST GO BDS 50,377 58,832
    ILLINOIS ST GO BDS 176,324 206,092
    ILLINOIS ST GO BDS 51,263 57,493
    ILLINOIS FIN AUTH ACADEMIC 150,011 155,810
    ILLINOIS FIN AUTH ACADEMIC 15,013 15,816
    HOWARD UNIV 2020 BOND 36,629 35,989
    HOWARD UNIV 2020 BOND 10,009 10,017
    HOWARD UNIV 2020 BOND 10,471 10,283
    HAWAIIAN GARDENS CALIF REDEV AGY 58,652 65,238
    HAWAIIAN GARDENS CALIF REDEV AGY 175,013 190,362
    INGLEWOOD CALIF JT PWRS AUTH 55,015 58,537
    INGLEWOOD CALIF JT PWRS AUTH 200,013 211,032
    YSLETA TEX INDPT SCH DIS 221,758 221,095
    KLICKITAT CNTY WASH 105,015 109,421
    KERR MCGEE CORP BOND 115,885 112,754
    KENTUCKY ST PPTY & BLDGS 34,516 35,667
    KENTUCKY ST PPTY & BLDGS 11,488 11,889
    KENTUCKY ECONOMIC DEV 55,590 54,892
    KENTUCKY ECONOMIC DEV 46,101 49,291
    KENTUCKY ASSN OF CNTYS FIN CORP FING 90,016 93,106
    KENDALL KANE & WILL CNTYS ILL CMTY UNIT 103,432 111,545
    JOPLIN MO INDL DEV AUTH 90,012 91,990
    JOHNSON CONTROLS INTERNATION NOTE 60,936 118,631
    JOPLIN MO INDL DEV AUTH 90,013 92,540

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    THE CIELO FOUNDATION
    EIN:
    26-1166378
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABB LTD 118,234 189,552
    HANNON ARMSTRONG SUSTAINABLE INFL 127,861 324,510
    GLAXOSMITHKLINE PLC 114,400 122,201
    SECOM CO 128,890 107,027
    SHERWIN WILLIAMS CO 61,838 142,625
    SALESFORCE COM INC 247,240 366,964
    ROCHE HOLDIINGS ADR 243,331 286,310
    S&P GLOBAL INC COM 49,158 91,554
    HEXCEL CORP COM 145,976 140,274
    HOME DEPOT INC 98,884 202,425
    SALESFORCE COM INC 129,119 113,596
    SHINHAN FINANCIAL GROUP 82,560 92,885
    FIRST SOLAR INC COM 41,123 116,184
    EATON CORP 171,027 200,644
    EAST WEST BANCORP INC 195,888 358,387
    STARBUCKS CORP 102,819 139,428
    STARBUCKS CORP 160,540 240,724
    DBS GROUP HLDGS LTD 97,132 103,008
    FIDELITY NATL INFORMATION SERVICES 109,250 80,553
    SIEMENS AG SPON 96,315 162,169
    ECOLAB INC 157,587 192,364
    SONIC HEALTHCARE SPON 85,596 115,640
    ESSILOR LUXOTTICA 72,973 114,343
    EQUINIX INC 100,452 104,884
    SONY CORP 90,161 137,144
    OMNICELL COM 132,827 342,836
    MERCK AND CO INC NEW COM 125,230 127,222
    MEDTRONIC PLC 98,610 93,105
    MCDONALDS CORP 107,297 138,592
    MCCORMICK AND CO INC COM 223,930 293,888
    NVIDIA CORPORATION 129,066 264,111
    MASTERCARD INC CL A 350,952 464,960
    MASTERCARD INC CL A 105,818 137,620
    ORMAT TECHNOLOGIES INC 129,256 180,328
    MATTHES ASIA ESG FD 160,278 216,766
    PALO ALTO NETWORKS INC 148,018 501,641
    MICROSOFT CORP 262,391 688,783
    MSCI INC COM 105,887 276,936
    NEW YORK TIMES CO CL A 150,308 243,577
    NIKE INC CLASS B COM 69,600 124,002
    NIKE INC CLASS B COM 165,474 349,174
    PAX MSCI INTL ESG INDEX 567,463 823,549
    KAO CORP 154,565 112,234
    PROLOGIS INC 116,164 275,100
    PRUDENTIAL ADR 88,495 139,088
    ITRON INC 194,970 221,594
    RECKITT BENCKISER GROUP 128,980 122,820
    RECRUIT HOLDINGS CO LTD 73,795 108,751
    INTEL CORP COM 101,965 99,138
    KBC GROUP NV UNSPONSORED 186,209 281,642
    PAYPAL HLDGS INC 229,439 354,342
    PAYPAL HLDGS INC 60,816 98,062
    PENUMBRA INC 130,262 228,707
    PEPSICO INC 111,480 138,447
    PING AN INSURANCE GROUP COMPANY 141,516 109,009
    XYLEM INC COM 104,272 95,216
    ETSY INC 62,395 310,895
    BLACKBAUD INC 206,309 257,633
    AMAZON.COM INC 257,936 450,136
    BROADCOM INC 88,795 189,642
    VANGUARD FTSE SOCIAL 626,512 1,238,440
    BRIGHT HORIZONS 202,453 220,668
    ALPHABET INC 248,521 651,834
    BOOKING HLDGS INC 88,968 115,163
    VERISK ANALYTICS INC 153,992 239,709
    VERIZON COMMUNICATIONS 95,230 83,656
    VERSUS CAPITAL 999,894 1,160,485
    AMERICAN EXPRESS CO 80,152 107,322
    ALPHABET INC 324,616 341,851
    ALLIANZ SE UNSPON 113,613 122,084
    CALVERT US MID CAP CORE 96,161 174,707
    CALVERT INTL OPPTY FD I 138,016 173,673
    CALVERT EMRG MKTS EQTY 320,733 376,591
    UNILEVER PLC 286,091 284,334
    UNITEDHEALTH GROUP 91,647 184,788
    VF CORP COM 256,095 246,678
    AMERICAN TOWER CORP 92,978 107,754
    AUTODESK INC 159,887 258,132
    AMGEN INC 106,035 94,712
    AT&T INC 145,123 121,278
    ASTRAZENECA 198,180 252,572
    ASML HOLDING 91,661 376,574
    ASML HOLDING 38,069 158,432
    ASE TECHNOLOGY 52,544 96,040
    APTIV PLC 85,665 219,054
    AXA SA SPON ADR 127,176 130,547
    BANCO BRADESCO SA 90,545 70,394
    BECTON DICKINSON & CO 225,805 239,660
    VISA INC COM 120,486 151,480
    WABTEC COM 270,082 326,438
    AMERICAN WATER WORKS 186,609 324,273
    APPLE INC 224,501 865,299
    ADOBE INC 118,232 245,537
    ADOBE INC 111,622 121,351
    TAIWAN SEMICONDUCTOR 139,097 295,120
    ACCENTURE PLC 77,479 130,998
    TELKOM INDONESIA 73,956 106,596
    TELENOR ASA 143,541 123,488
    ABBOTT LABORATORIES 123,489 142,007
    TAKEDA PHARMACEUTICAL CO 131,976 105,006
    TAIWAN SEMICONDUCTOR 72,150 208,256
    CHINA MERCHANTS BANK CO 96,856 89,277
    STEEL DYNAMICS INC 101,754 96,891
    CAPITAL ONE FINANCIAL CORP 46,512 80,525
    WPP PLC AMERICAN DEPOSITARY SHS 80,642 129,493
    TRAVELERS COMPANIES INC 197,428 249,662
    AGILENT TECHNOLOGIES INC 61,153 93,555
    SVB FINL GROUP 89,490 369,641
    TRANE TECHNOLOGIES PLC 128,483 301,833
    TPI COMPOSITES INC 64,856 61,201

    TY 2021 InvestmentsOtherSchedule2
    Name:
    THE CIELO FOUNDATION
    EIN:
    26-1166378
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    EDGE PRINCIPAL INVESTMENTS IV AT COST 3,211,633 3,240,513
    RENEWALS AT COST 1,469,048 837,200
    NEW SUMMIT IMPACT FUND AT COST 1,053,438 1,274,280
    HGI AIF SELECT I AT COST 104,402 102,524
    GMB MEZZANINE AT COST 266,409 93,253
    HGI BSW FUND II AT COST 108,619 94,299
    HGI BSW FUND III AT COST 200,853 226,672
    HGI OPPORTUNITY SELECT FUND IV AT COST 325,436 208,295
    MIMG BSW FUND II AT COST 50,852 547,907
    MIMG XL HARBOR POINTE AT COST 3,450 50,000
    WDE PARTNERS LP AT COST 432,274 95,961
    MIMG XLV TOWN AND COUNTRY AT COST 67,483 100,000
    MIMG XXVII HS MASTER AT COST 26,310 50,000
    LS POWER FUND III FEEDER I AT COST 4,979,660 10,766,739
    LS POWER PARTNERS II AT COST 2,884,895 14,495
    BELVEDERE HOLDINGS AT COST 2 2
    EDGE PRINCIPAL INVESTMENTS AT COST 1,254,208 36,427
    EDGE PRINCIPAL INVESTMENTS II AT COST 4,102,995 426,664
    EDGE PRINCIPAL INVESTMENTS III AT COST 7,077,769 10,151,642
    MIMG BSW FUND III AT COST 126,555 265,224
    MIMG XXXVII CE MASTER AT COST 0 50,000
    HGI KG05 HOLDINGS AT COST 527,493 500,000
    ADVOCATE HEALTH & HOSPS AT COST 55,913 55,882
    PROVIDENCE ST JOSEPH HEALTH AT COST 10,288 10,325
    STANFORD HEALTH CARE SER AT COST 223,743 220,486
    CALIFORNIA MUN FIN AUTH AT COST 60,017 59,946
    GALESBURG ILL REV TAXABLE AT COST 60,012 59,828
    EAST PEORIA ILL GO BDS AT COST 26,906 27,496
    WORCESTER MASS G.O. BDS AT COST 5,515 5,707
    CALIFORNIA MUN FIN AUTH AT COST 80,014 79,848
    PINAL & MARICOPA CNTYS ARIZ AT COST 230,018 226,131
    SULPHUR SPRINGS CALIF UN AT COST 54,940 54,415
    SOUTH DAKOTA ST HEALTH & EDL AT COST 65,018 64,915
    NEW JERSEY ECONOMIC DEV AT COST 18,876 18,852
    FRESNO CALIF REF PENSION AT COST 82,695 83,434
    HOWARD CNTY MD HSG AT COST 80,013 79,341
    MAINE HEALTH & HIGHER EDL FACS AUTH AT COST 15,015 15,216
    NEW YORK ST DORM AUTH AT COST 66,725 72,506
    ESSEX CNTY N J IMPT AUTH AT COST 30,010 30,332
    MIAMI DADE CNTY FLA AVIATION AT COST 16,171 16,002
    CALIFORNIA PUB FIN AUTH REV AT COST 25,010 25,099
    ORANGE CALIF PENSION OBLIG AT COST 15,010 15,251
    SOUTH CAROLINA JOBS ECONOMIC DEV AT COST 195,214 189,610
    INGLEWOOD CALIF UNI SCH DIST AT COST 10,010 9,988
    DALLAS FORT WORTH TEX INTL ARPT REV AT COST 30,499 29,798
    PROVIDENCE R I REDEV AGY SPL AT COST 10,010 10,322
    LOS ANGELES CALIF MUN IMPT AT COST 20,010 19,879
    OKMULGEE CNTY OKLA GOVERNMENTAL BLDG AT COST 20,015 20,093
    MONTEREY CNTY CALIF REGL FIRE DIST AT COST 48,762 53,060
    CERRITOS CALIF CMNTY COLLEGE DIST AT COST 40,858 41,209
    GATX CORP NOTE CALL MAKE WHOLE AT COST 36,263 36,221
    STANFORD HEALTH CARE SER AT COST 32,759 32,266
    NEWARK NJ GO BDS SER AT COST 55,372 58,602
    SOUTH JERSEY TRANSN AUTH N J TRANSN SYS AT COST 35,966 35,888
    WESTERN PLACER CALIF UNI SCH AT COST 9,981 10,428
    KANSAS ST DEV FIN AUTH REV AT COST 17,199 17,318
    HOWARD CNTY MD HSG COMMN AT COST 20,010 19,835
    MINNESOTA ST HSG FIN AGY AT COST 15,010 15,100
    SOUTH CAROLINA JOBS ECONOMIC DEV AT COST 10,561 10,249
    CALIFORNIA PUB FIN AUTH REV AT COST 10,010 10,019
    SANTA CLARA VY CALIF WTR DIST WTR SYS REV AT COST 55,010 60,814
    HAMDEN CONN TAXABLE GO AT COST 20,261 20,634
    SULPHUR SPRINGS CALIF UN AT COST 19,978 19,998
    MICHIGAN FIN AUTH REV AT COST 33,077 32,098
    PEOPLES UNITED FINANCIAL INC AT COST 51,027 50,967
    SUTTER HEALTH SER 2020A AT COST 271,319 267,673
    BOSTON MED CTR CORP BOND AT COST 44,097 43,542
    CIGNA CORP NEW SER C NOTE AT COST 39,273 38,809
    ASCENSION SER 2019B BOND AT COST 267,687 264,907
    NEW YORK ST TAXABLE GO BDS AT COST 67,135 67,369
    PHILADELPHIA PA AUTH FOR INDL AT COST 53,324 53,228
    NEWARK NJ GO BDS SER AT COST 251,673 266,373
    NORTH CHARLESTON S C PUB AT COST 25,013 24,640
    SAPULPA OKLA MUN AUTH UTIL AT COST 70,011 69,110
    INGLEWOOD CALIF UNI SCH DIST AT COST 145,015 143,318
    MINNESOTA ST HSG FIN AGY AT COST 10,002 10,147
    MINNESOTA ST HSG FIN AGY AT COST 5,001 5,074
    STATE PUB SCH BLDG AT COST 130,014 137,112
    ONTARIO CALIF PENSION OBLIG AT COST 90,775 90,515
    ANAHEIM CALIF PUB FING AUTH AT COST 60,011 58,867
    SANTA ANA CALIF PENSION AT COST 60,015 59,130
    ENCINITAS CALIF SPL TAX REF AT COST 125,015 121,509
    SOUTH GATE CALIF UTIL AUTH AT COST 50,011 52,926
    VIRGINIA ST HSG DEV AUTH AT COST 70,012 69,047
    CHULA VISTA CALIF PENSION OBLIG AT COST 40,011 37,296
    CHINO CALIF PUB FING AUTH AT COST 40,011 40,938
    APTIV PLC AT COST 105,086 109,362
    NXP SEMICONDUCTORS NV AT COST 90,382 95,668
    YANDEX NV AT COST 97,434 85,789
    AMC ENTERTAINMENT HOLDINGS AT COST 33,226 22,032
    AU OPTRONICS CORPORATION AT COST 54,073 59,123
    AENA SME SA UNSPOSORED ADR AT COST 94,784 86,575
    ADVANCED MICRO DEVICES INC AT COST 79,620 84,613
    ALBEMARLE CORP COM AT COST 74,418 64,053
    ALPHABET INC CAP STK CL C AT COST 145,192 202,551
    ANGLOGOLD ASHANTI LTD SPON ADR AT COST 68,380 90,403
    ANHEUSER-BUSCH INBEV SA/NV AT COST 109,252 103,238
    APPLIED MATERIALS INC COM AT COST 106,026 141,781
    ASAHI KASEI CORP AT COST 115,706 99,695
    ASSA ABLOY UNSP ADR AT COST 86,353 79,331
    AUSTRAILIA & NEW ZEALAND BANK GROUP AT COST 134,502 122,106
    AUTOMATIC DATA PROCESSING INC AT COST 92,937 106,276
    BANK OF NEW YORK MELLON CORP AT COST 91,201 98,155
    BAYERISCHE MOTOREN WERKE AG ADR AT COST 89,719 104,221
    BRAMBLES LTD SPON ADR AT COST 123,469 118,153
    CHARTER COMMUNICATIONS INC AT COST 80,367 86,060
    CLOUDFLARE INC AT COST 62,915 41,686
    COMPAGNIE DE ST-GOBAIN AT COST 87,465 80,956
    CONTINENTAL AG SPON ADS AT COST 122,289 105,255
    DNB BANK ASA SPON ADR AT COST 102,142 116,390
    DANAHER CORPORATION AT COST 97,690 142,132
    DEERE & CO AT COST 82,844 85,037
    DIAGEO ADR AT COST 86,242 113,592
    DOVER CORP AT COST 117,714 124,396
    DSV A S UNSPONSORED AT COST 77,641 94,005
    DUPONT DE NEMOURS AT COST 76,907 88,777
    META PLATFORMS INC CLASS A AT COST 150,415 268,744
    FIFTH THIRD BANK AT COST 85,654 106,610
    GARTNER INC AT COST 84,741 93,610
    GENERAL MILLS INC AT COST 84,289 101,542
    GOLDMAN SACHS GROUP INC AT COST 116,046 108,262
    HEWLETT PACKARD ENTERPRISE AT COST 105,594 110,832
    HITACHI ADR AT COST 101,073 110,691
    HUNT J.B. TRANSPORT SERVICES AT COST 85,602 100,156
    INFOSYS LTD SPON ADR AT COST 94,387 114,629
    INGERSOLL RAND INC AT COST 89,072 105,179
    INTERPUBLIC GROUP COS INC AT COST 81,215 114,672
    INTESA SANPAOLO SPA SPON ADR AT COST 140,930 140,311
    INTUITIVE SURGICAL INC AT COST 82,701 120,725
    IQVIA HLDGS INC AT COST 69,446 103,263
    JULIUS BAER GRUPPE AG AT COST 108,634 117,611
    KEURIG DR PEPPER INC AT COST 97,774 113,676
    KUBOTA ADR REP AT COST 119,449 115,639
    ESTEE LAUDER COMPANIES INC AT COST 84,035 95,141
    ELI LILLY AND CO COM AT COST 52,462 118,498
    MARSH & MCLENNAN COMPANIES AT COST 94,175 107,942
    MERCADOLIBRE INC AT COST 87,487 68,768
    METLIFE INC COM AT COST 81,367 89,236
    MONDELEZ INTL INC AT COST 85,142 103,377
    MORGAN STANLEY COM AT COST 122,351 116,320
    NASPERS SPON ADR AT COST 84,644 68,552
    NOVARTIS AG AT COST 167,539 156,484
    OMNICOM GROUP AT COST 97,036 93,859
    ORACLE CORP AT COST 89,283 86,425
    PNC FINANCIAL SERVICES AT COST 82,969 97,252
    PROSUS N.V. SPON ADR AT COST 97,583 90,861
    REGIONS FINANCIAL CORP AT COST 87,549 93,260
    ROYAL DSM NV AT COST 92,336 120,859
    SK TELECOM ADR AT COST 95,874 59,794
    SANDVIK AB ADR AT COST 122,226 125,355
    SCHWAB CHARLES CORP AT COST 82,764 110,844
    SERVICENOW INC AT COST 89,856 99,963
    SHENZHOU INTL GROUP HLDGS AT COST 85,081 72,197
    SINGAPORE TELECOMMUNICATIONS AT COST 109,365 105,870
    SNAP INC CL A AT COST 86,245 55,542
    BLOCK INC CL A AT COST 90,461 55,236
    SUN HUNG KAI PPTYS AT COST 129,510 103,697
    TJX COMPANIES AT COST 100,192 111,602
    TECHTRONIC INDUSTRIES AT COST 66,499 64,100
    TELEFONICA SA ADR AT COST 80,540 67,692
    TENCENT HOLDINGS LIMITED AT COST 296,648 205,306
    TERUMO ADR REP AT COST 91,661 95,803
    THERMO FISHER SCIENTIFIC AT COST 103,715 148,795
    TRUIST FINL CORP AT COST 80,537 81,794
    US BANCORP AT COST 88,838 85,547
    UNILEVER PLC AT COST 116,599 108,763
    UNITED OVERSEAS BK LTD AT COST 84,129 92,784
    UNITED PARCEL SERVICE INC AT COST 86,040 91,523
    UNITED UTILITIES GROUP AT COST 79,840 92,011
    VESTAS WIND SYS AT COST 96,860 73,869
    WUXI BIOLOGICS CAYMAN INC AT COST 105,951 88,866
    ZOETIS INC AT COST 74,451 113,230
    BANCOLOMBIA ADR AT COST 124,143 117,325
    CROWN CASTLE INTL CORP NEW AT COST 100,603 108,754
    EQUITY RESIDENTIAL SBI AT COST 98,716 128,782
    LINDE PLC COM AT COST 192,591 247,005
    BAYERISCHE MOTOREN WERKE AG ADR AT COST 162,190 145,950
    IPG PHOTONICS CORPORATION AT COST 172,300 180,231
    LHC GROUP AT COST 232,506 158,089
    SOLAREDGE TECHNOLOGIES INC AT COST 163,901 188,824
    SUNRUN INC AT COST 143,096 111,715
    SYNEOS HEALTH INC AT COST 182,133 244,276
    WOLFSPEED INC AT COST 115,275 282,666
    XYLEM INC COM AT COST 146,330 244,037
    AMERICAN TOWER CORP AT COST 169,294 238,973
    MIMG XXXII EDEN PARK AT COST 0 50,000
    MIMG XLI COUNTRY ESTATES AT COST 0 50,000
    OTHER MISC UNSCHEDULED INVESTMENTS AT COST 49,687 70,830

    TY 2021 OtherAssetsSchedule
    Name:
    THE CIELO FOUNDATION
    EIN:
    26-1166378
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PROGRAM RELATED LOAN 100,000 100,000 100,000
    CALVERT IMPACT CAPITAL LOAN 750,000 750,000 750,000


    TY 2021 OtherDecreasesSchedule
    Name:
    THE CIELO FOUNDATION
    EIN:
    26-1166378
    Description Amount
    BOOK/TAX DIFFERENCE FOR UNREALIZED GAIN/LOSS 32,321


    TY 2021 OtherExpensesSchedule
    Name:
    THE CIELO FOUNDATION
    EIN:
    26-1166378
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK FEES 340 340   0
    INSURANCE 2,000 0   0
    WEBSITE 98 0   0
    LICENSES 10 0   0
    PAYROLL EXPENSE -1,970 0   0
    FLOW THROUGH N/D EXPENSES 6,867 0   0
    K-1 DEDUCTIONS 293,307 293,307   0
    OFFICE SUPPLIES 515 0   0
    ADVANCE RULING FEE 2,500 0   0


    TY 2021 OtherIncomeSchedule2
    Name:
    THE CIELO FOUNDATION
    EIN:
    26-1166378
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    FIDELITY BROKERAGE 2479 7,691 7,691 7,691
    FIDELITY BROKERAGE 5554 2,098 2,098 2,098
    EDGE PRINCIPAL INVESTMENTS II, LLC PASSTHROUGH INCOME -8,177 -8,177 -8,177
    EDGE PRINCIPAL INVESTMENTS II, LLC PASSTHROUGH RENTAL INCOME -4,736 -4,736 -4,736
    EDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH INCOME 96,369 96,369 96,369
    EDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH RENTAL INCOME -1,109,328 -1,109,328 -1,109,328
    EDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH INCOME -7,066 -7,066 -7,066
    EDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH RENTAL INCOME 19,001 19,001 19,001
    EDGE PRINCIPAL INVESTMENTS, LLC PASSTHROUGH INCOME 1,674 1,674 1,674
    EDGE PRINCIPAL INVESTMENTS, LLC PASSTHROUGH RENTAL INCOME -3,687 -3,687 -3,687
    GMB MEZZANINE CAPITAL II PASSTHROUGH INCOME 4,583 4,583 4,583
    HGI BSW FUND I PASSTHROUGH RENTAL INCOME -946 -946 -946
    HGI BSW FUND II PASSTHROUGH RENTAL INCOME -773 -773 -773
    HGI BSW FUND III PASSTHROUGH RENTAL INCOME -6,889 -6,889 -6,889
    HGI OPPORTUNITY SELECT FUND IV PASSTHROUGH INCOME 110 110 110
    HGI OPPORTUNITY SELECT FUND IV PASSTHROUGH RENTAL INCOME -4,119 -4,119 -4,119
    LS POWER FUND III FEEDER 1 PASSTHROUGH INCOME 290,475 290,475 290,475
    LS POWER FUND III FEEDER 1 PASSTHROUGH RENTAL INCOME -77,486 -77,486 -77,486
    LS POWER PARTNERS II PASSTHROUGH INCOME 81,099 81,099 81,099
    MIMG BSW FUND II PASSTHROUGH RENTAL INCOME 20,425 20,425 20,425
    MIMG BSW FUND III PASSTHROUGH RENTAL INCOME 14,613 14,613 14,613
    MIMG XL HARBOR POINTE PASSTRHOUGH RENTAL INCOME -1,519 -1,519 -1,519
    MIMG XLI COUNTRY ESTATES PASSTHROUGH RENTAL INCOME 1,744 1,744 1,744
    MIMG XLI SHERWOOD FOREST PASSTHROUGH RENTAL INCOME -21,007 -21,007 -21,007
    MIMG XLV TOWN AND COUNTRY PASSTHROUGH RENTAL INCOME -4,437 -4,437 -4,437
    MIMG XXVIII HS MASTER PASSTHROUGH RENTAL INCOME 4,897 4,897 4,897
    MIMG XXXII EDEN PARK PASSTHROUGH RENTAL INCOME -584 -584 -584
    MIMG XXXVII CE MASTER PASSTHROUGH RENTAL INCOME -9,587 -9,587 -9,587
    NEW SUMMIT IMPACT FUND II-B PASSTHROUGH INCOME -3,012 -3,012 -3,012
    NEW SUMMIT IMPACT FUND II-B PASSTHROUGH OTHER INCOME 8,688 8,688 8,688
    RENEWAL3 US PASSTHROUGH OTHER INCOME 3,451 3,451 3,451
    WDE PARTNERS PASSTHROUGH INCOME 6,550 6,550 6,550
    HGI BSW FUND III PASSTHROUGH OTHER INCOME -191 -191 -191
    HGI OPPORTUNITY SELECT FUND IV PASSTHROUGH OTHER INCOME 2,337 2,337 2,337
    GMB MEZZANINE CAPITAL II PASSTHROUGH INCOME 2 2 2
    GMB MEZZANINE CAPITAL II PASSTHROUGH OTHER INCOME 325 325 325
    HGI BSW FUND I PASSTHROUGH OTHER INCOME 1,001 1,001 1,001
    NEW SUMMIT IMPACT FUND II-B PASSTHROUGH TAX EXEMPT INCOME 349 349 349


    TY 2021 OtherLiabilitiesSchedule
    Name:
    THE CIELO FOUNDATION
    EIN:
    26-1166378
    Description Beginning of Year - Book Value End of Year - Book Value
    PAYROLL LIABILITIES 2,233 1,620
    MIMG XXXII EDEN PARK 27,616 42,915
    MIMG XLI COUNTRY ESTATES 9,568 16,186
    MIMG XXXVII CE MASTER 0 51,359


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    THE CIELO FOUNDATION
    EIN:
    26-1166378
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT FEES 451,116 451,116   0
    CONSULTING FEES 1,143 0   572


    TY 2021 TaxesSchedule
    Name:
    THE CIELO FOUNDATION
    EIN:
    26-1166378
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAX 45,631 45,631   0
    PAYROLL TAX 8,441 0   4,221