TY 2023 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0047

2023

Open to Public Inspection

For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023

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 If exemption application is pending, check here right arrow

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

D 1. Foreign organizations, check here............. right arrow

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

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

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

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

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

$89,293,624J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	961,238		961,238
4	Dividends and interest from securities...	742,095		755,261
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-2,623,673
b	Gross sales price for all assets on line 6a 18,984,894
7	Capital gain net income (from Part IV, line 2)...			0
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).......	List of Attached Documents: // Content	-380,847	-380,847
12	Total. Add lines 1 through 11........	-1,301,187		1,335,652
13	Compensation of officers, directors, trustees, etc.	60,000		0	60,000
14	Other employee salaries and wages......	38,789		0	38,789
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	40,050	40,050	0
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	378,918	378,918	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	57,499	48,932	8,567
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	391,796	344,640	931
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	967,052		812,540	108,287
25	Contributions, gifts, grants paid.......	7,139,803			7,139,803
26	Total expenses and disbursements. Add lines 24 and 25	8,106,855		812,540	7,248,090
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-9,408,042
b	Net investment income (if negative, enter -0-)			523,112
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2023)

Form 990-PF (2023)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	42,532	80,847	80,847
	2	Savings and temporary cash investments.........	2,345,076	979,887	979,887
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........		0
	10a	Investments—U.S. and state government obligations (attach schedule)	0	List of Attached Documents: // Content 61,154	61,154
	b	Investments—corporate stock (attach schedule).......	26,852,470	List of Attached Documents: // Content 25,235,787	29,078,540
	c	Investments—corporate bonds (attach schedule).......	29,082,784	List of Attached Documents: // Content 25,794,463	26,629,589
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	24,826,545	List of Attached Documents: // Content 21,378,730	30,682,481
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	List of Attached Documents: // Content 1,100,000	List of Attached Documents: // Content 1,550,760	List of Attached Documents: // Content 1,781,126
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	84,249,407	75,081,628	89,293,624
	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 )	List of Attached Documents: // Content 140,321	List of Attached Documents: // Content 171,675
	23	Total liabilities (add lines 17 through 22).........	140,321	171,675
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	84,109,086	74,909,953
	28	Retained earnings, accumulated income, endowment, or other funds	0	0
	29	Total net assets or fund balances (see instructions).....	84,109,086	74,909,953
	30	Total liabilities and net assets/fund balances (see instructions).	84,249,407	75,081,628

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

84,109,086

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

-9,408,042

Other increases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

208,909

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

74,909,953

Decreases not included in line 2 (itemize) right arrow

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

74,909,953

Form 990-PF (2023)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation
1 a	SHORT TERM SALES - 2479	P
b	LONG TERM SALES -2479	P
c	SHORT TERM SALES - 3476	P
d	LONG TERM SALES -3476	P
e	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 - 7561	P
	LONG TERM SALES -7561	P
	HGI BSW FUND III 1231 LOSS	D
	EDGE PRINCIPAL INVESTMENTS II LP	D
	EDGE PRINCIPAL INVESTMENTS II LP 1231 LOSS	D
	EDGE PRINCIPAL INVESTMENTS III LP	D
	EDGE PRINCIPAL INVESTMENTS III LP 1231 GAIN	D
	LS POWER FUND III FEEDER 1 LP	D
	LS POWER PARTNERS II LP	D
	GMB MEZZANINE CAPITAL II, LP	D
	HGI OPPORTUNITY SELECT FUND IV 1231 LOSS	D
	LS POWER PARTNERS II LP 1231 GAIN	D
	NEW SUMMIT IMPACT FUND II-B LP	D
	NEW SUMMIT IMPACT FUND II-B LP	D
	LOSS ON DISPOSAL OF HGI AIF SELECT I	D
	LOSS ON DISPOSAL OF LS POWER PARTNERS II	D

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	624,315	772,174	-147,859
b	3,468,109	2,768,576	699,533
c	236,662	233,421	3,241
d	860,000	862,040	-2,040
e	20,000	20,340	-340
	190,000	189,515	485
	281,420	276,998	4,422
	862,000	862,339	-339
	1,911,739	1,928,064	-16,325
	5,614,858	5,401,098	213,760
	1,838	1,854	-16
	4,621,139	4,905,008	-283,869
		10,834	-10,834
		76,393	-76,393
		239,004	-239,004
	253,359		253,359
	16,439		16,439
		42,294	-42,294
		7,980	-7,980
		289	-289
		4,718	-4,718
	23,016		23,016
		9,010	-9,010
		52,204	-52,204
		6,480	-6,480
		2,937,934	-2,937,934

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			-147,859
b			699,533
c			3,241
d			-2,040
e			-340
			485
			4,422
			-339
			-16,325
			213,760
			-16
			-283,869
			-10,834
			-76,393
			-239,004
			253,359
			16,439
			-42,294
			-7,980
			-289
			-4,718
			23,016
			-9,010
			-52,204
			-6,480
			-2,937,934

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-2,623,673
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	7,271
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	7,271
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	7,271
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	91,144
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	91,144
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.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	83,873
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax83,873	Refunded	11	0

Form 990-PF (2023)

Page 4

Part VI-A

Statements Regarding Activities

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

Yes

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

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

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

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

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

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. right arrow

$ 0(2) On foundation managers. right arrow

$ 0

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

on foundation managers. right arrow

$ 0

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

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

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

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

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

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

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

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument? ................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XIV..................................

Yes

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

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.

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

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

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

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

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

Yes

Website address right arrow

The books are in care of right arrow

DANETTE TYE Telephone no. right arrow

(303) 449-4707

Located at right arrow

6658 GUNPARK DRIVE SUITE 202ABOULDERCO ZIP+4 right arrow

80301

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... right arrow

and enter the amount of tax-exempt interest received or accrued during the year ........ right arrow

16 At any time during calendar year 2023, 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 right arrow

Form 990-PF (2023)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

Yes

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)? ......................

1a(5)

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.) ...............

1a(6)

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........

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

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 2023? .............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2023?....................

If "Yes," list the years right arrow

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

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

20, 20, 20, 20

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

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

Yes

If "Yes," did it have excess business holdings in 2023 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 2023.) .....................

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

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..

Form 990-PF (2023)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

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

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

5a(5)

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

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

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

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

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

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

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

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .........................

Part VII

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

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)
ALAN COGEN	VICE PRESIDENT 3.00	30,000
6658 GUNPARK DRIVE 202A BOULDER,CO80301	VICE PRESIDENT 3.00	30,000
JUDITH COGEN	PRESIDENT 3.00	30,000
435 OAKWOOD PLACE BOULDER,CO80304	PRESIDENT 3.00	30,000

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...................				0

Form 990-PF (2023)

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............. right arrow

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......................... right arrow

Form 990-PF (2023)

Page 8

Part IX

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

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

purposes:

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

87,897,131

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

609,761

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

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

88,506,892

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

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

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

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

88,506,892

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

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

1,327,603

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

87,179,289

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

4,358,964

Part X

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

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

4,358,964

Tax on investment income for 2022 from Part V, line 5.......

7,271

Income tax for 2022. (This does not include the tax from Part V.) ...

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

7,271

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

4,351,693

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

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

4,351,693

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

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

4,351,693

Part XI

Qualifying Distributions (see instructions)

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

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

7,248,090

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

7,248,090

Form 990-PF (2023)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2022	(c) 2022	(d) 2023
1 Distributable amount for 2023 from Part X, line 7					4,351,693
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......				0
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2022:
a From 2018......
b From 2019......
c From 2020......
d From 2021......	1,361,733
e From 2022......	2,980,874
f Total of lines 3a through e ........		4,342,607
4Qualifying distributions for 2023 from Part
XI, line 4: $ 7,248,090
a Applied to 2022, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2023 distributable amount.....					4,351,693
e Remaining amount distributed out of corpus		2,896,397
5 Excess distributions carryover applied to 2023.		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		7,239,004
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 2022. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2023. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2024 ..........					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 2018 not applied on line 5 or line 7 (see instructions) ...		0
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		7,239,004
10 Analysis of line 9:
a Excess from 2019....
b Excess from 2020....
c Excess from 2021....	1,361,733
d Excess from 2022....	2,980,874
e Excess from 2023....	2,896,397

Form 990-PF (2023)

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 2023, enter the date of the ruling ...... right arrow

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

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2023	(b) 2022	(c) 2021	(d) 2020	(e) Total

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 right arrow

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

aThe name, address, and telephone number or 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 (2023)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
COMPASS NURSING ARTS 108 W BASELINE RD LAFAYETTE,CO80026	NA	PC	SCHOLARSHIP	-135
FIDELITY CHARITABLE GIFT FUND 101 CROSBY PARKWAY COVINGTON,KY41015	NA	PC	DONATION	6,950,000
FRONT RANGE COMMUNITY COLLEGE 3645 W 112TH AVE WESTMINSTER,CO80031	NA	PC	SCHOLARSHIP	3,424
IBMC COLLEGE 3842 S MASON ST FORT COLLINS,CO80525	NA	PC	SCHOLARSHIP	25,000
KMG LIFE 1546 W BYERS PL DENVER,CO80223	NA	PC	SCHOLARSHIP	9,247
SOUTHERN NEW HAMPSHIRE 2500 N RIVER RD MANCHESTER,NH03106	NA	PC	SCHOLARSHIP	1,980
DALE PATRICK PUTNAM 3095 MOUNTAIN BROOK DRIVE LONGMONT,CO80503	NA	PC	COMPUTER AND SOFTWARE	1,482
JAMESON DYE 13950 SANDTRAP CIRCLE BROOMFIELD,CO80023	NA	PC	COMPUTER	2,574
ANN ROSE NURSING SCHOOL 7280 IRVING ST B205 WESTMINSTER,CO80030	NA	PC	SCHOLARSHIP	1,335
US TRUCK DRIVING 8150 W 48TH AVE WHEAT RIDGE,CO80033	NA	PC	SCHOLARSHIP	24,877
WHITE MAGNOLIA SKIN INSTITUTE 1918 S LEMAY AVE FORT COLLINS,CO80525	NA	PC	SCHOLARSHIP	9,100
160 DRIVING ACADEMY 6025 PARKWAY DR UNIT 105 COMMERCE CITY,CO80022	NA	PC	SCHOLARSHIP	10,912
SCHOOL OF BOTANICAL & MEDICAL AESTHETICS 1221 GALAPAGO ST DENVER,CO80204	NA	PC	SCHOLARSHIP	9,910
CONCORDE CAREER COLLEGE 111 HAVANA ST AURORA,CO80010	NA	PC	SCHOLARSHIP	10,000
MONTANA STATE UNIVERSITY CULBERTSON HALL 100 BOZEMAN,MT59717	NA	PC	SCHOLARSHIP	15,795
UNIVERSITY OF COLORADO ANSCHUTZ 13001 E 17TH PL AURORA,CO80045	NA	PC	SCHOLARSHIP	10,000
SEWARD COMMUNITY COLLEGE 1801 N KANSAS AVE LIBERAL,KS67901	NA	PC	SCHOLARSHIP	695
MILSPO TRAINING DBA CAREER DASH 10900 RESEARCH BLVD SUITE 160C PMB 3084 AUSTIN,TX78759	NA	PC	SCHOLARSHIP	3,500
UNIVERSITY OF NORTHERN COLORADO 501 WE 20TH ST GREELEY,CO80639	NA	PC	SCHOLARSHIP	1,450
DENVER HEALTH 777 BANNOCK ST DENVER,CO80204	NA	PC	SCHOLARSHIP	2,190
WYOMING TECH 1889 VENTURE DR LARAMIE,WY82070	NA	PC	SCHOLARSHIP	10,000
GALS INC 9019 MINES RD SUITE 3 LAREDO,TX78045	NA	PC	SCHOLARSHIP	23,818
MIND BODY GREEN 2980 MCFARLANE RD MIAMI,FL33133	NA	PC	SCHOLARSHIP	4,249
THE BEAUTY COLLECTIVE 1350 CARR ST LAKEWOOD,CO80214	NA	PC	SCHOLARSHIP	8,400
Total ................................. 3a				7,139,803

bApproved for future payment

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

Form 990-PF (2023)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
aNA
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	961,238
4 Dividends and interest from securities ....			14	742,095
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....			14	27,355
8 Gain or (loss) from sales of assets other than inventory ............			18	-2,623,673
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	-113
bEDGE PRINCIPAL INVESTMENTS II, LLC PASSTHROUGH RENTAL INCOME			34	-25,443
cEDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH INCOME			34	2,447
dEDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH RENTAL INCOME			34	-1,275,310
eEDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH INCOME			34	-70
fEDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH RENTAL INCOME			34	-740
gGMB MEZZANINE CAPITAL II PASSTHROUGH INCOME			34	-3,726
hHGI BSW FUND II PASSTHROUGH RENTAL INCOME			34	-1,361
iHGI BSW FUND III PASSTHROUGH RENTAL INCOME			34	298
jHGI OPPORTUNITY SELECT FUND IV PASSTHROUGH RENTAL INCOME			34	-5,719
kLS POWER FUND III FEEDER 1 PASSTHROUGH INCOME			34	709,212
lLS POWER FUND III FEEDER 1 PASSTHROUGH RENTAL INCOME			34	-40,046
mLS POWER PARTNERS II PASSTHROUGH INCOME			34	52,192
nMIMG BSW FUND II PASSTHROUGH RENTAL INCOME			34	82,386
oMIMG BSW FUND III PASSTHROUGH RENTAL INCOME			34	36,212
pMIMG XL HARBOR POINTE PASSTRHOUGH RENTAL INCOME			34	3,232
qMIMG XLI COUNTRY ESTATES PASSTHROUGH RENTAL INCOME			34	4,817
rMIMG XLV TOWN AND COUNTRY PASSTHROUGH RENTAL INCOME			34	5,381
sMIMG XXVIII HS MASTER PASSTHROUGH RENTAL INCOME			34	9,313
tMIMG XXXII EDEN PARK PASSTHROUGH RENTAL INCOME			34	4,499
12 Subtotal. Add columns (b), (d), and (e) ..		0		-1,301,187	0

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

-1,301,187

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2023)

Page 13

Part XVI

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

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

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

Form 990-PF (2023)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2023 AccountingFeesSchedule

Name:

THE CIELO FOUNDATION

EIN:

26-1166378

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES	40,050	40,050		0

- TIN:

TY 2023 InvestmentsCorpBondsSchedule

Name:

THE CIELO FOUNDATION

EIN:

26-1166378

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ADVENTIST HEALTH SYS WEST	69,764	71,200
ADVENTIST HEALTH SYS WEST	44,852	45,771
AKRON OHIO CTFS	40,007	37,911
ALBUQUERQUE N MEXGROSS RCPTS	270,005	268,083
ALLENTOWN PA CITY SCH DIST	225,005	217,375
AMERICAN WTR CAP CORP	33,822	33,263
ANAHEIM CALIF PUB FING AUTH	60,008	51,938
ARIZONA BRD REGENTS UNIV	145,008	134,818
ARIZONA INDL DEV AUTH	50,344	46,826
ARKANSAS RIVER PWR AUTH	105,480	103,148
ARKANSAS ST GO AMMEND 82 BDS	56,568	57,732
BALDWIN PK CALIF PENSION OBLIG	60,814	56,725
BALDWIN PK CALIF PENSION OBLIG	245,006	235,915
BOONE MCHENRY & DEKALB CNTYS ILL	260,011	237,375
BRIDGEPORT CONN GO REF	23,196	24,118
BROOKHAVEN NY LOC	54,773	54,230
CALEXICO CALIF CMNTY REDEV	40,009	35,060
CALEXICO CALIF CMNTY REDEV	120,013	105,179
CALIFORNIA HEALTH FACS FING	41,006	42,215
CALIFORNIA INFRASTRUCTURE	180,011	171,580
CALIFORNIA MUN FIN AUTH	80,010	73,630
CALIFORNIA ST GO BDS	231,670	212,364
CALIFORNIA ST PUB WKS BRD	42,620	43,225
CALIFORNIA STATEWIDE CMNTYS	184,920	189,520
CAMBRIA CNTY PA TAXABLE	35,007	31,614
CANADIAN CNTY OKLA EDL	25,013	25,911
CARBONDALE ILL TAXABLEGO	47,074	47,719
CARBONDALE ILL TAXABLEGO	25,681	26,029
CCM COMMUNITY IMPACT BOND FUND	271,700	244,802
CHECKPOINT SOFTWARE TECHNOLOGIES	65,330	83,882
CHICAGO ILL BRD ED TAXABLE	124,980	120,104
CHICAGO ILL GO BDS SER 2015	5,881	5,551
CHICAGO ILL GO BDS SER 2015	143,674	133,218
CHICAGO ILL GO BDS SER 2015	47,044	44,406
CHICAGO ILL MIDWAY ARPT REV	45,835	43,493
CHINO CALIF PUB FING AUTH	40,009	33,909
CHOWCHILLA CALIF TAXABLE PENSION OBLI	35,003	34,106
CHOWCHILLA CALIF TAXABLE PENSION OBLI	255,002	252,218
CHRISTUS HEALTH	103,642	97,698
COLORADO HEALTH FACS AUTH	10,079	8,795
COLORADO HSG & FIND AUTH	40,020	41,821
COLORADO HSG & FIND AUTH	30,017	30,990
COLORADO HSG & FIND AUTH	212,848	212,837
COLUMBUS FRANKLIN CNTY OHIO FIN AUTH	113,124	107,196
COLUMBUS FRANKLIN CNTY OHIO FIN AUTH	53,380	52,190
COLUMBUS FRANKLIN CNTY OHIO FIN AUTH	143,975	136,431
COMMONSPIRIT HEALTH SER 2020 BOND	82,843	84,277
COMMONWEALTH FING AUTH PA REV	130,729	131,004
COMMONWEALTH FING AUTH PA REV	20,226	20,154
CONNECTICUT ARPT AUTH CUSTOMER FAC	15,255	13,639
CONNECTICUT ST GO BDS	40,482	40,322
CONNECTICUT ST HIGHER ED	43,107	42,651
CONNECTICUT ST HSG FIN AUTH	100,011	92,532
COOK CNTY ILL SCH	70,519	67,688
COOK CNTY ILL TAXABLE GO BDS	46,803	48,060
CRESTWOOD VLG ILL TAXABLE	30,009	25,030
DALLAS FORT WORTH TEX INTL ARPT REV	30,394	25,670
DENVER COLO CITY& CNTY	63,741	56,654
DETROIT MICH CITY SCH DIST	10,748	10,194
DONNA TEX DEV CORP SALES	30,015	30,149
DOUGLAS CNT NEB SCH	71,377	73,163
EAST PEORIA ILL GO BDS	151,889	146,437
EASTERN ILL UNIV CTFS PARTN	20,016	20,028
EMERYVILLE CALIF ELECTION 2018	24,654	24,294
ENCINITAS CALIF SPL TAX REF	125,012	105,790
ESSEX CNTY N J IMPT AUTH	30,007	26,264
EVERGREEN PARK ILL GO TAXABLE BDS	53,073	51,076
EVERGREEN PARK ILL GO TAXABLE BDS	58,379	56,184
FAYETTEVILLE GA PUB	70,010	62,054
FEDERAL FARM CR BKS BOND	90,011	89,970
FEDERAL FARM CR BKS BOND	258,953	258,734
FEDERAL HOME LN MTG CORP	55,000	54,658
FEDERAL HOME LOAN BA SER	45,001	44,949
FEDERAL HOME LOAN BA SER	69,158	69,465
FEDERAL HOME LOAN BA SER	97,955	99,100
FEDERAL HOME LOAN BA SER	174,381	174,475
FEDERAL HOME LOAN BA SER	24,995	24,972
FEDERAL HOME LOAN BA SER	25,005	24,792
FRESNO CALIF REF PENSION	68,237	62,637
GALESBURG ILL REV TAXABLE	60,003	58,441
GALESBURG ILL REV TAXABLE BDS	19,003	19,480
GARY IND CMNT SCH BLDG	120,013	111,436
GRANITE CITY ILL TAXABLE GO BDS SER	101,515	98,136
HAMDEN CONN TAXABLE GO	27,615	24,345
HAMDEN CONN TAXABLE GO	65,008	55,472
HAMDEN CONN TAXABLE GO	20,212	17,068
HAMILTON OHIO CMTY	255,009	245,366
HAWAIIAN GARDENS CALIF REDEV AGY	175,010	164,910
HAWAIIAN GARDENS CALIF REDEV AGY	268,784	248,619
HAWAIIAN GARDENS CALIF REDEV AGY	58,652	54,244
HOMESTEAD FLA TRANSN SYS	18,253	18,876
HOMESTEAD FLA TRANSN SYS	91,225	94,378
HOWARD CNTY MD HSG	80,010	70,592
HOWARD CNTY MD HSG COMMN	20,008	17,648
HOWARD UNIV 2020 BOND	10,006	9,271
IDAHO HSG & FIN ASSN SINGLE FAM	70,016	70,962
IDAHO HSG & FIN ASSN SINGLE FAM	65,020	66,273
ILLINOIS FIN AUTH ACADEMIC	15,008	14,489
ILLINOIS FIN AUTH ACADEMIC	150,003	147,722
ILLINOIS ST GO BDS	176,092	179,272
ILLINOIS ST GO BDS	50,795	50,800
ILLINOIS ST GO BDS SER 2013	21,340	20,281
ILLINOIS ST GO BDS SER 2019	15,090	15,310
ILLINOIS ST GO BDS SER 2019	100,589	102,426
ILLINOIS ST GO BDS SER 2019	50,287	51,034
ILLINOIS ST GO BDS SER 2019	58,670	55,773
ILLINOIS ST TAXABLE GO BDS	19,019	19,392
ILLINOIS ST TAXABLE PENSION	79,833	74,136
ILLINOIS STATE TAXABLE PENSION	19,397	19,770
INDIANAPOLIS IND LOC PUB IMPT	60,014	62,189
INGLEWOOD CALIF JT PWRS AUTH	200,009	190,094
INGLEWOOD CALIF JT PWRS AUTH	55,011	51,873
INGLEWOOD CALIF JT PWRS AUTH	70,801	71,920
INGLEWOOD CALIF UNI SCH DIST	90,005	82,490
INGLEWOOD CALIF UNI SCH DIST	10,008	8,429
JOHNSON CONTROLS INTERNATION NOTE	51,539	71,128
JOPLIN MO INDL DEV AUTH	90,010	80,714
JOPLIN MO INDL DEV AUTH	90,009	82,844
KANKAKEE ILL TAXABLE GO BDS	33,015	32,419
KANSAS ST DEV FIN AUTH REV	24,664	24,640
KANSAS ST DEV FIN AUTH REV	16,630	14,881
KANSAS ST DEV FIN AUTH REV	19,733	19,712
KENDALL KANE & WILL CNTYS ILL CMTY UNIT	101,807	101,885
KENTUCKY ASSN OF CNTYS FIN CORP FING	90,014	77,611
KENTUCKY ECONOMIC DEV	41,287	45,779
KENTUCKY ECONOMIC DEV	45,885	42,593
KENTUCKY ST PPTY & BLDGS	78,020	77,845
KENTUCKY ST PPTY & BLDGS	11,150	10,356
KENTUCKY ST PPTY & BLDGS	27,909	25,891
KERR MCGEE CORP BOND	110,812	101,899
KING CNTY WASH GO BDS SER	69,028	69,718
KLICKITAT CNTY WASH	105,010	98,505
LAKE CNTY ILL CMTY UNIT	45,646	43,935
LAKE CNTY ILL CMTY UNIT	50,341	49,182
LAKE CNTY ILL CMTY UNIT	55,001	55,000
LANSING MICH TAX INCREMENT FIN AUTH	130,005	126,790
LAS CRUCES N MEX ST SHARED GROSS RCPTS	50,015	48,393
LAS VIRGENE SCALIF UNI SCH	50,211	50,423
LENNAR CORP NOTE CALL	24,736	24,868
LOS ANGELES CALIF MUN IMPT	20,008	16,675
LOS ANGELES CALIF UNI SCH DIST GO BDS	119,592	113,711
LOUISVILLE & JEFFERSON CNTY	151,885	151,525
LYNN HAVEN FLA REV	49,244	43,605
LYNN HAVEN FLA REV	39,439	37,300
MARIN CALIF CMTY COLLEGE DIST GO BDS	315,012	301,499
MARIN CALIF CMTY COLLEGE DIST GO BDS	245,009	234,815
MARYLAND ST HEALTH & HIGHER EDL	34,079	33,542
MASSACHUSETTS BAY TRANSN	62,354	62,474
MASSACHUSETTS ST DEV FIN	55,004	52,072
MASSACHUSETTS ST GO BDS	28,646	25,367
MASSACHUSETTS ST HSG FIN	94,893	93,982
MASSACHUSETTS ST WTR RES	48,280	49,078
MATTESON ILL GO DEBT	25,788	27,585
MEMPHIS TENN GO IMPT	93,500	95,539
MIAMI DADE CNTY FLA AVIATION	15,888	13,982
MIAMI GARDENS FLA CTFS	60,224	54,896
MICHIGAN FIN AUTH REV	40,013	35,901
MICHIGAN ST HSG DEV AUTH	29,620	32,023
MICHIGAN ST HSG DEV AUTH	23,989	24,754
MINNESOTA ST HSG FIN AGY	15,008	13,189
MISSISSIPPI ST G O BDS	37,039	37,194
MISSISSIPPI ST G O BDS	163,996	164,717
MONROE CNTY N Y INDL DEV CORP	180,754	184,397
MONTANA FAC FIN AUTH REV	22,446	23,066
MONTEREY CNTY CALIF REGL FIRE DIST	48,762	44,365
MONTEREY CNTY CALIF REGL FIRE DIST	105,007	97,819
MT VERNON IND SCH BLDG CORP	65,005	62,870
NEW HAVEN CONN FEDERALLY TAXABLE GO	40,726	39,411
NEW HAVEN CONN FEDERALLY TAXABLE GO	203,609	197,054
NEW HAVEN CONN FEDERALLY TAXABLE GO	80,134	72,866
NEW JERSEY ECONOMIC DEV	155,009	155,894
NEW JERSEY ECONOMIC DEV	114,674	108,058
NEW JERSEY ECONOMIC DEV	119,417	113,461
NEW JERSEY ECONOMIC DEV	25,079	25,480
NEW JERSEY ECONOMIC DEV	132,889	136,075
NEW JERSEY ECONOMIC DEV	26,721	26,722
NEW JERSEY ECONOMIC DEV	14,921	14,569
NEW JERSEY ST EDL FACS AUTH	46,442	47,520
NEW JERSEY ST EDL FACS AUTH	16,887	17,599
NEW JERSEY ST EDL FACS AUTH	146,298	123,194
NEW JERSEY ST TRANSN TR FD	43,911	44,411
NEW JERSEY ST TRANSN TR FD	25,117	25,538
NEW YORK N Y CITY HSG DEV	20,008	17,041
NEW YORK N Y CITY HSG DEV	20,007	18,330
NEW YORK N Y CITY HSG DEV	55,005	51,918
NEW YORK N Y CITY TRANSITIONAL FIN	50,095	49,052
NEW YORK N Y CITY TRANSITIONAL FIN	125,227	122,630
NEW YORK ST DORM AUTH	11,344	9,719
NEW YORK ST DORM AUTH	66,306	63,234
NEW YORK ST MTG	215,007	207,862
NEW YORK ST MTG	55,006	52,766
NEW YORK ST MTG	83,819	78,919
NEW YORK ST MTG	130,002	128,232
NEW YORK ST TAXABLE GO BDS	65,204	64,636
NEW YORK ST URBAN DEV CORP	69,653	68,614
NEWARK NJ GO BDS SER	250,511	247,325
NEWARK NJ GO BDS SER	55,114	54,412
NORRISTOWN PA TAXABLE GO	80,013	72,775
NORTH CHARLESTON S C PUB	25,005	23,697
NORTH CNTY CALIF FIRE PROTECTION	20,658	21,944
NORTH DAKOTA ST HSG FIN AGY	30,000	30,000
NORTHERN ARIZ UNIV REVS TAXABLE	237,760	206,962
NORTHERN ARIZ UNIV REVS TAXABLE	136,589	118,893
NORTHERN ILL MUN PWR AGY	25,001	25,001
NORTHERN STS PWR CO	56,495	56,744
OCSHNER LSU HEALTH SYS	14,856	13,792
OHIO ST WTR DEV AUTH REV WTR	35,027	35,458
OKANOKAN CNTY WASH PUB	31,729	31,519
OKLAHOMA ST CAPITOL IMPT	40,005	39,633
OKLAHOMA ST CAPITOL IMPT	20,005	19,604
OKMULGEE CNTY OKLA GOVERNMENTAL BLDG	20,013	16,629
ONONDAGA NY CIVIC DEV CORP	245,014	192,367
ONTARIO CALIF INTL ARPT AUTH REV	249,565	242,313
ONTARIO CALIF PENSION OBLIG	36,859	32,030
ONTARIO CALIF PENSION OBLIG	89,505	77,788
ORANGE CALIF PENSION OBLIG	15,008	12,938
OREGON SCH BRDS ASSN LTD	40,428	40,816
OREGON SCH BRDS ASSN LTD	46,281	46,232
OREGON ST FACS AUTH REV	94,458	97,049
OVID ELSIE MICH AREA SCHS TAZABLE GO ULTD	50,006	47,677
PARTNERS GROUP PRIVATE EQUITY	3,550,000	5,237,309
PENN HILLS PA	96,160	93,366
PENNSYLVANIA ECONOMIC DEV	63,232	67,659
PENNSYLVANIA ECONOMIC DEV	15,008	13,134
PENNSYLVANIA ST TPK COMMN	28,101	29,195
PENNSYLVANIA ST GO BDS	114,672	114,357
PENNSYLVANIA ST TPK COMMN OIL FRANCHISE	19,364	16,758
PHOENIX ARIZ G O GEN	154,946	158,731
PINAL & MARICOPA CNTYS ARIZ	230,013	203,863
PREMIER HEALTH PARTNERS	36,066	36,156
PROVIDENCE R I REDEV AGY SPL	10,008	9,201
PROVIDENCE ST JOSEPH	24,647	25,903
READING PA TAXABLE GO BDS	205,012	177,192
REGIONAL TRANSN AUTH ILL	98,960	103,367
RHODE ISLAND ST COMM CORP REV FEDERALLY	30,006	28,644
RICHMOND CALIF PENSION FDG	109,168	109,115
RUSH SYS FOR HEALTH SER 2020	37,296	38,002
SACRAMENTO CALIF PENSION	52,684	51,463
SALES TAX SECURIZATION CORP	70,910	70,915
SAN DIEGO CALIF REDEV	56,051	53,626
SAN DIEGO CALIF TOB SETTLEMENT	24,954	24,834
SAN JOSE CALIF REDEV AGY	41,965	44,920
SAN LUIS UNIT/WESTLANDS WTR	61,472	51,077
SAN LUIS UNIT/WESTLANDS WTR	132,351	138,016
SANTA CLARA VY CALIF WTR DIST WTR SYS REV	55,008	51,279
SANTA CLARA VY CALIF WTR DIST WTR SYS REV	60,008	55,940
SANTA PAULA CALIF UTIL AUTH WASTEWTR	45,009	38,767
SAPULPA OKLA MUN AUTH UTIL	70,006	65,298
SCHENECTADY NY METROPLEX DEV	105,011	93,451
SEMITROPIC IMPT DIST	55,007	50,269
SHREVEPORT LA ARPT SYS	31,449	29,816
SOUTH DAKOTA ST HEALTH & EDL	35,011	32,787
SOUTH GATE CALIF ITIL WTR REV	55,009	49,851
SOUTH GATE CALIF UTIL AUTH	50,009	45,320
SOUTH JERSEY TRANSN AUTH N J TRANSN SYS	14,936	14,125
SOUTH JERSEY TRANSN AUTH N J TRANSN SYS	35,577	32,805
ST JOHNS CNTY FLA INDL DEV	88,968	93,320
STATE PUB SCH BLDG	130,011	116,886
STEPHEN F AUSTIN ST UNIV TEX	185,010	180,299
STOCKTON CALIF PUB	100,011	89,721
SULPHUR SPRINGS CALIF UN	19,978	16,668
SUTTER HEALTH SER 2020A	64,887	65,860
SUTTER HEALTH SER 2020A	270,599	252,960
SYLACAUGA ALA GO WTS SER	14,257	14,505
TACOMA WASH ELEC SYS REV	101,249	106,724
TACOMA WASH WTR REV	25,214	26,059
TEXAS ST DEPT HSG & CMNTY	105,019	108,045
TMC3 DEV CORP	14,001	12,555
TRANSBAY JT PWRS AUTH	10,002	9,729
TULARE CNTY CALIF PENSION OBLIG	26,795	23,468
UNIVERSIRT CALIF REVS GEN REV BDS	100,158	95,622
UNIVERSITY SOUTH ALA UNIV	270,011	258,711
UNIVERSITY SOUTH ALA UNIV	45,004	44,100
UNIVERSITY TEX UNIV REVS FING	136,769	136,399
UTAH HSG CORP SINGLE FAMILY	45,017	46,459
UTAH ST BRD HIGHER ED REV	49,646	46,489
UTAH ST TAXABLE GO BDS	29,868	29,918
VERMONT MUN BD BK MUNICIPAL	50,308	53,828
VINELAND N J ELEC UTIL	105,009	98,587
VIRGINIA ST HSG DEV AUTH	70,010	56,348
WASHINGTON ST HSG FIN	40,018	41,383
WASHINGTON ST HSG FIN COMM TAXABLE	130,020	134,999
WASHINGTON ST TAXABLE GO	23,242	23,917
WASHINGTON ST TAXABLEMTR	100,142	103,303
WEST MIFFLIN PA GO TAXABLE BDS SER	10,010	8,789
WESTERN PLACER CALIF UNI SCH	9,981	9,323
WESTERN PLACER CALIF UNI SCH	14,919	14,104
WHITTIER CALIF REDEV	25,643	24,570
WILLIAMSON JACKSON ETC	51,716	52,026
WISCONSIN ST GEN FD ANNUAL	90,018	90,214
WORCESTER MASS G.O. BDS	5,358	5,191
WORCESTER MASS G.O. BDS	10,716	10,382
YSLETA TEX INDPT SCH DIS	107,842	98,157

- TIN:

TY 2023 InvestmentsCorpStockSchedule

Name:

THE CIELO FOUNDATION

EIN:

26-1166378

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABB LTD	93,950	195,895
ABBOTT LABORATORIES	126,991	114,583
ACCENTURE PLC	121,280	157,559
ADOBE INC	122,151	140,798
ADOBE INC	199,412	392,563
AENA SME SA UNSPOSORED ADR	107,002	115,988
AGILENT TECHNOLOGIES INC	57,970	78,274
AIA GROUP ADR	73,562	70,103
ALCON INC	202,197	217,877
ALLIANZ SE UNSPON	91,918	112,899
ALPHABET INC	279,363	283,710
ALPHABET INC CAP STK CL C	147,746	200,121
AMADEUS IT GROUP	88,265	90,821
AMAZON.COM INC	250,057	407,047
AMERICAN EXPRESS CO	55,595	87,113
AMERICAN TOWER CORP	282,731	308,708
AMERICAN TOWER CORP	111,458	97,578
AMERICAN WATER WORKS	157,884	196,005
ANZ GROUP HOLDINGS	131,162	106,362
AON PLC SHS CL A	70,683	64,897
APPLE INC	737,540	823,066
APPLIED MATERIALS INC COM	101,452	116,366
APTIV PLC	78,219	48,000
APTIV PLC	72,253	103,088
ARISTA NETWORKS INC	62,364	82,900
ASE TECHNOLOGY	47,199	108,375
ASML HOLDING	76,010	148,356
ASML HOLDING	78,408	309,580
ASSA ABLOY UNSP ADR	82,666	73,007
ASTRAZENECA	220,994	314,120
AT&T INC	137,653	109,288
AUTODESK INC	219,038	293,393
AUTOMATIC DATA PROCESSING INC	128,010	134,424
AUTOZONE INC	54,106	64,640
AXA SA SPON ADR	80,997	91,322
BALL CORP	124,296	135,805
BANCO BRADESCO SA	99,012	108,178
BANCOLOMBIA ADR	112,108	105,264
BANK OF NEW YORK MELLON	137,736	136,215
BAYERISCHE MOTOREN WERKE AG ADR	106,862	133,210
BAYERISCHE MOTOREN WERKE AG ADR	162,489	173,036
BECTON DICKINSON & CO	74,244	72,418
BIOGEN INC	75,177	67,539
BLUEROCK TOTAL INC	500,015	394,236
BOOKING HOLDINGS	61,869	127,700
BOSTON SCIENTIFIC CORP	81,322	98,046
BRAMBLES LTD SPON ADR	115,781	136,308
BRIDGESTONE CORP	85,052	94,509
BRIGHT HORIZONS	191,837	172,176
BROADCOM INC	45,629	203,158
BROWN-FORMAN CORP	79,985	68,463
CADENCE DESIGN SYSTEMS	62,501	115,485
CERRITOS CALIF CMNTY COLLEGE DIST	40,750	33,031
CHARGEPOOINT HOLDINGS INC	47,778	14,087
CHINA MERCHANTS BANK CO	105,215	53,969
CHUBB LIMITED COM	99,359	105,316
COCA-COLA FESMA	71,824	92,558
COMPANIA CERVECERIAS UNIDAS	49,855	41,946
CONSTELLATION BRANDS INC	103,182	107,821
COPART INC COM	105,341	116,424
CROWN CASTLE INTL CORP NEW	118,310	75,334
DARLING INGREDIENTS INC	129,988	113,187
DBS GROUP HLDGS LTD	61,952	68,654
DEERE & CO	64,978	77,175
DIAGEO ADR	100,199	86,959
DNB BANK ASA SPON ADR	145,686	156,578
DOVER CORP	134,750	122,125
DSV A S UNSPONSORED ADR	86,984	78,681
EAST WEST BANCORP INC	54,923	123,898
EATON CORP	189,858	286,576
ECOLAB INC	166,607	182,085
ELI LILLY AND CO COM	39,270	194,112
EQUINIX INC	100,452	99,868
EQUITY RESIDENTIAL SBI	75,571	70,028
ESSILOR LUXOTTICA	63,919	95,365
ETSY INC	92,673	133,733
FERGUSON PLC ORD	62,023	82,827
FIDELITY NATL INFORMATION SERVICES	133,711	69,621
FIRST SOLAR INC COM	16,505	92,170
FISERV INC COM	93,534	100,826
FORTESCUE METALS GROUP	85,173	131,062
FUJITSU UNSP ADR	75,154	83,694
GARTNER INC	72,030	107,364
GOLDMAN SACHS GROUP INC	117,365	110,716
GSK PLC SPON ADS	81,125	68,598
HANNON ARMSTRONG SUSTAINABLE INFL	54,572	89,139
HDFC BANK LTD	83,848	86,371
HERSHEY COMPANY	90,804	77,745
HEWLETT PACKARD ENTERPRISE	69,835	78,923
HEXCEL CORP COM	118,824	172,723
HOME DEPOT INC	78,834	139,660
HOYA ADR	71,718	79,942
ICICI BANK LIMITED SPON	103,365	107,328
INDUSTRIAL & COMMERCIAL BK	71,510	78,363
INGERSOLL RAND INC	90,708	134,340
INTEL CORP COM	66,521	116,530
INTERPUBLIC GROUP COS INC	61,413	74,093
INTESA SANPAOLO SPA SPON ADR	105,859	120,991
IPG PHOTONICS CORPORATION	176,658	132,202
IQVIA HLDGS INC	68,919	84,222
JULIUS BAER GRUPPE AG	85,403	77,775
KBC GROUP NV UNSPONSORED	157,299	184,454
KEURIG DR PEPPER INC	111,390	116,220
KUBOTA ADR REP	132,749	102,810
LEVI STRAUSS &CO NEW CL A	122,437	121,139
LINDE PLC COM	128,388	193,034
MASTERCARD INC CL A	85,346	136,910
MASTERCARD INC CL A	208,747	377,035
MCCORMICK AND CO INC COM	227,517	217,097
MCCORMICK AND CO INC COM	59,287	53,847
MCDONALDS CORP	154,930	206,074
MEDTRONIC PLC	110,468	85,016
MERCADOLIBRE INC	67,608	77,005
MERCK AND CO INC NEW COM	143,011	143,579
META PLATFORMS INC CLASS A	134,557	259,453
METLIFE INC COM	69,743	80,943
MICROSOFT CORP	474,735	479,451
MORGAN STANLEY COM	136,394	123,743
MSCI INC COM	90,700	221,735
NETFLIX INC	96,443	110,035
NIKE INC CLASS B COM	61,215	73,068
NIKE INC CLASS B COM	141,230	196,837
NINTENDO CO LTD	90,699	109,843
NIO INC SPON	54,685	39,926
NOVARTIS AG	114,107	129,847
NOVO NORDISK	100,361	177,727
NVIDIA CORPORATION	206,798	204,031
NVIDIA CORPORATION	104,345	359,530
NXP SEMICONDUCTORS NV	84,534	95,088
OMNICELL COM	195,510	125,157
OMNICOM GROUP	71,887	82,098
ORACLE CORP	100,917	119,241
ORMAT TECHNOLOGIES INC	111,104	149,155
PALO ALTO NETWORKS INC	101,123	414,896
PAYPAL HLDGS INC	268,177	166,544
PING AN INSURANCE GROUP COMPANY	113,926	64,394
PLDT INC ADR	54,466	45,196
PNC FINANCIAL SERVICES	118,531	109,169
PNC FINANCIAL SERVICES	99,697	123,106
PROGRESSIVE CORP	69,985	80,914
PROLOGIS INC	99,901	90,244
PROLOGIS INC	134,765	225,144
PRUDENTIAL FINANCIAL	70,387	106,406
QUALCOMMINC	90,255	82,728
QUANTA SERVICES INC	59,009	91,931
RECKITT BENCKISER GROUP	92,793	87,029
RECRUIT HOLDINGS CO LTD	72,291	81,939
REGIONS FINANCIAL CORP	110,145	102,733
RELIANCE STEEL & ALUMINUM	121,615	121,381
ROCHE HOLDIINGS ADR	328,931	275,420
ROGERS CORP	131,796	110,939
RPM INTERNATIONAL	90,176	111,072
SALESFORCE COM INC	158,780	161,305
SANDOZ GROUP AG SPON	6,289	8,227
SANDVIK AB ADR	97,671	78,005
SECOM CO	136,013	119,044
SERVICENOW INC COM	124,088	155,428
SERVICENOW INC COM	206,796	262,814
SHINHAN FINANCIAL GROUP	94,826	104,467
SIBANYE STILLWATER LTD	89,762	76,123
SIEMENS AG SPON	105,362	204,666
SINGAPORE TELECOMMUNICATIONS	108,782	114,252
SMUCKER J M CO	90,143	80,883
SONIC HEALTHCARE SPON	73,670	65,685
SONY CORP	123,328	139,668
STARBUCKS CORP	129,809	170,898
STEEL DYNAMICS INC	95,340	91,528
SUNRUN INC	157,379	73,279
SYNOPSYS INC	94,824	111,735
SYSCO CORP	111,361	97,263
TAIWAN SEMICONDUCTOR	120,328	220,688
TAIWAN SEMICONDUCTOR	86,395	171,184
TARGET CORP	69,698	77,904
TELENOR ASA	174,107	115,463
TELKOM INDONESIA	57,053	74,678
TENCENT HOLDINGS LIMITED	277,908	135,817
TERUMO ADR REP	100,242	81,746
THERMO FISHER SCIENTIFIC	263,912	255,841
THERMO FISHER SCIENTIFIC	122,732	135,882
TJX COMPANIES	78,300	108,257
TOKIO MARINE HLDGS	91,781	108,701
TRANSMISSIONE ELETTRICITA RETE	80,436	88,160
TRAVELERS COMPANIES INC	131,226	217,730
U HAUL HOLDING COMPANY	68,549	88,473
UBER TECHNOLOGIES INC	66,941	92,909
UNILEVER PLC	311,316	300,140
UNITED OVERSEAS BK LTD	73,491	87,902
UNITED UTILITIES GROUP	107,160	113,341
UNITEDHEALTH GROUP	91,647	193,741
VERISK ANALYTICS INC	171,631	258,447
VERIZON COMMUNICATIONS	185,088	137,303
VERSUS CAPITAL	989,858	986,125
VERSUS CAPITAL REAL ASSETS	498,936	517,626
VINCI ADR	124,603	138,681
VISA INC COM	109,115	164,802
VITAL FARMS INC	33,098	39,256
WABTEC COM	126,592	218,522
WIPRO LTD SPON ADR	103,879	83,934
WOLFSPEED INC	183,581	146,542
WUXI BIOLOGICS CAYMAN INC	123,624	35,969
XYLEM INC COM	84,474	74,791
XYLEM INC COM	86,058	145,923
YANDEX NV	147,920	0
ZOETIS INC	63,739	77,172

- TIN:

TY 2023 InvestmentsGovtObligationsSch

Name:

THE CIELO FOUNDATION

EIN:

26-1166378

US Government Securities - End of Year Book Value:

61,154

US Government Securities - End of Year Fair Market Value:

61,154

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

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

- TIN:

TY 2023 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 II	AT COST	3,697,338	131,960
EDGE PRINCIPAL INVESTMENTS III	AT COST	3,509,000	3,876,775
EDGE PRINCIPAL INVESTMENTS IV	AT COST	2,850,475	4,426,885
GMB MEZZANINE	AT COST	129,507	38,553
HGI BSW FUND II	AT COST	103,306	56,764
HGI BSW FUND III	AT COST	182,882	60,894
HGI KG05 HOLDINGS	AT COST	592,456	525,526
HGI OPPORTUNITY SELECT FUND IV	AT COST	267,510	139,512
LS POWER FUND III FEEDER I	AT COST	6,477,605	14,462,546
MEADOWLARK LANDS I LP	AT COST	254,811	298,402
MIMG BSW FUND II	AT COST	0	1,898,700
MIMG BSW FUND III	AT COST	109,279	806,670
MIMG XL HARBOR POINTE	AT COST	0	123,512
MIMG XLI COUNTRY ESTATES	AT COST	0	99,987
MIMG XLV TOWN AND COUNTRY	AT COST	61,729	133,415
MIMG XXVII HS MASTER	AT COST	21,943	156,444
MIMG XXXII EDEN PARK	AT COST	0	172,740
MIMG XXXVII CE MASTER	AT COST	0	344,961
NEW SUMMIT IMPACT FUND	AT COST	1,869,191	2,423,022
RENEWALS	AT COST	794,482	466,372
WDE PARTNERS LP	AT COST	457,216	38,841

- TIN:

TY 2023 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	50,000	50,000
CALVERT IMPACT CAPITAL LOAN	750,000	750,000	750,000
SOUTHERN PLAINS LAND TRUST LOAN	250,000	250,000	250,000
FOREST RESILIENCE BOND	0	500,000	500,000
ACCRUED INTEREST	0	0	230,366
PREPAID WAGES	0	760	760

- TIN:

TY 2023 OtherExpensesSchedule

Name:

THE CIELO FOUNDATION

EIN:

26-1166378

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
BANK FEES	189	189	0
INSURANCE	2,000	0	0
WEBSITE	191	0	0
FLOW THROUGH N/D EXPENSES	3,905	0	0
K-1 DEDUCTIONS	344,451	344,451	0
CONTRACTOR LABOR	39,575	0	0
MILEAGE	351	0	0
LICENSES	60	0	0
SUPPLIES	1,074	0	931

- TIN:

TY 2023 OtherIncomeSchedule2

Name:

THE CIELO FOUNDATION

EIN:

26-1166378

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
FIDELITY BROKERAGE 2479	394	394	394
FIDELITY BROKERAGE 5554	1,403	1,403	1,403
FIDELITY BROKERAGE 7561	17,350	17,350	17,350
MISC INCOME	8,208	8,208	8,208
EDGE PRINCIPAL INVESTMENTS II, LLC PASSTHROUGH INCOME	-113	-113	-113
EDGE PRINCIPAL INVESTMENTS II, LLC PASSTHROUGH RENTAL INCOME	-25,443	-25,443	-25,443
EDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH INCOME	2,447	2,447	2,447
EDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH RENTAL INCOME	-1,275,310	-1,275,310	-1,275,310
EDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH INCOME	-70	-70	-70
EDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH RENTAL INCOME	-740	-740	-740
GMB MEZZANINE CAPITAL II PASSTHROUGH INCOME	-3,726	-3,726	-3,726
HGI BSW FUND II PASSTHROUGH RENTAL INCOME	-1,361	-1,361	-1,361
HGI BSW FUND III PASSTHROUGH RENTAL INCOME	298	298	298
HGI OPPORTUNITY SELECT FUND IV PASSTHROUGH RENTAL INCOME	-5,719	-5,719	-5,719
LS POWER FUND III FEEDER 1 PASSTHROUGH INCOME	709,212	709,212	709,212
LS POWER FUND III FEEDER 1 PASSTHROUGH RENTAL INCOME	-40,046	-40,046	-40,046
LS POWER PARTNERS II PASSTHROUGH INCOME	52,192	52,192	52,192
MIMG BSW FUND II PASSTHROUGH RENTAL INCOME	82,386	82,386	82,386
MIMG BSW FUND III PASSTHROUGH RENTAL INCOME	36,212	36,212	36,212
MIMG XL HARBOR POINTE PASSTRHOUGH RENTAL INCOME	3,232	3,232	3,232
MIMG XLI COUNTRY ESTATES PASSTHROUGH RENTAL INCOME	4,817	4,817	4,817
MIMG XLV TOWN AND COUNTRY PASSTHROUGH RENTAL INCOME	5,381	5,381	5,381
MIMG XXVIII HS MASTER PASSTHROUGH RENTAL INCOME	9,313	9,313	9,313
MIMG XXXII EDEN PARK PASSTHROUGH RENTAL INCOME	4,499	4,499	4,499
MIMG XXXVII CE MASTER PASSTHROUGH RENTAL INCOME	20,385	20,385	20,385
NEW SUMMIT IMPACT FUND II-B PASSTHROUGH INCOME	-1,887	-1,887	-1,887
NEW SUMMIT IMPACT FUND II-B PASSTHROUGH OTHER INCOME	709	709	709
WDE PARTNERS PASSTHROUGH INCOME	5,573	5,573	5,573
HGI BSW FUND III PASSTHROUGH OTHER INCOME	-14	-14	-14
GMB MEZZANINE CAPITAL II PASSTHROUGH OTHER INCOME	2,718	2,718	2,718
HGI OPPORTUNITY SELECT FUND IV PASSTHROUGH INCOME	-196	-196	-196
HGI OPPORTUNITY SELECT FUND IV PASSTHROUGH OTHER INCOME	7,049	7,049	7,049

- TIN:

TY 2023 OtherIncreasesSchedule

Name:

THE CIELO FOUNDATION

EIN:

26-1166378

Description	Amount
BOOK/TAX DIFFERENCE FOR UNREALIZED GAIN/LOSS	208,909

- TIN:

TY 2023 OtherLiabilitiesSchedule

Name:

THE CIELO FOUNDATION

EIN:

26-1166378

Description	Beginning of Year - Book Value	End of Year - Book Value
PAYROLL LIABILITIES	2,594	3,110
MIMG XXXII EDEN PARK	50,418	58,295
MIMG XLI COUNTRY ESTATES	19,971	23,641
MIMG XXXVII CE MASTER	51,880	54,512
MIMG XL HARBOR POINTE	458	2,861
LOAN PAYABLE - SUNLIGHT	15,000	5,000
MIMG BSW FUND II	0	24,243
OTHER MISC UNSCHEDULED INVESTMENTS	0	13

- TIN:

TY 2023 OtherProfessionalFeesSchedule

Name:

THE CIELO FOUNDATION

EIN:

26-1166378

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT FEES	378,918	378,918		0

- TIN:

TY 2023 TaxesSchedule

Name:

THE CIELO FOUNDATION

EIN:

26-1166378

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
PAYROLL TAX	8,567	0		8,567
FOREIGN TAXES	48,932	48,932		0