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 TELLURAY FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)5856 S LOWELL BLVD 32-201
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
LITTLETON, CO80123

A Employer identification number

20-1090247

B Telephone number (see instructions)

(303) 536-5408

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

$66,439,364J 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	1,122,223		778,678
4	Dividends and interest from securities...	727,178		722,909
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-30,575
b	Gross sales price for all assets on line 6a 91,589
7	Capital gain net income (from Part IV, line 2)...			3,151
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	123,522	338,897
12	Total. Add lines 1 through 11........	1,942,348		1,843,635
13	Compensation of officers, directors, trustees, etc.	128,468		6,423	122,045
14	Other employee salaries and wages......	128,975		0	128,975
15	Pension plans, employee benefits.......	29,783		0	29,783
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	10,982	5,491	5,491
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	26,539	13,270	13,270
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	367,240	195,478	171,762
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	40,672	0	818
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......	26,893		0	26,893
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	11,921	0	11,921
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	771,473		220,662	510,958
25	Contributions, gifts, grants paid.......	4,584,553			4,584,553
26	Total expenses and disbursements. Add lines 24 and 25	5,356,026		220,662	5,095,511
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-3,413,678
b	Net investment income (if negative, enter -0-)			1,622,973
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.............
	2	Savings and temporary cash investments.........	1,454,438	686,129	686,129
	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) 325,000
		Less: allowance for doubtful accounts 0	325,000	325,000	325,000
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	815,204	List of Attached Documents: // Content 2,770,508	2,770,508
	b	Investments—corporate stock (attach schedule).......	52,383,368	List of Attached Documents: // Content 35,154,087	35,154,087
	c	Investments—corporate bonds (attach schedule).......	11,228,765	List of Attached Documents: // Content 11,220,303	11,220,303
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	18,579,584	List of Attached Documents: // Content 15,883,337	15,883,337
	14	Land, buildings, and equipment: basis 388,075
		Less: accumulated depreciation (attach schedule)	388,075	388,075	400,000
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	85,174,434	66,427,439	66,439,364
	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 319	List of Attached Documents: // Content 92
	23	Total liabilities (add lines 17 through 22).........	319	92
		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	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	85,174,115	66,427,347
	29	Total net assets or fund balances (see instructions).....	85,174,115	66,427,347
	30	Total liabilities and net assets/fund balances (see instructions).	85,174,434	66,427,439

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

85,174,115

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

-3,413,678

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

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

81,760,437

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

15,333,090

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

66,427,347

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	CAPITAL GAIN DISTRIBUTION	P
b	CAPITAL GAIN/LOSS FROM K-1S	P
c	CRESTONE 1723	P
d	JP MORGAN 7004	P
e	JP MORGAN 7003	P
	CRESTONE 1707	P
	BEAR CREEK 2120	P
	BEAR CREEK 2013	P
	JP MORGAN 5008	P
	JP MORGAN 7001	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	12,311		12,311
b	21,415		21,415
c	12,890		12,890
d		18,931	-18,931
e	17,275		17,275
		43,992	-43,992
	20,490		20,490
	7,208		7,208
		18,033	-18,033
		7,482	-7,482

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			12,311
b			21,415
c			12,890
d			-18,931
e			17,275
			-43,992
			20,490
			7,208
			-18,033
			-7,482

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	3,151
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	22,559
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	22,559
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	22,559
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	27,372
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	27,372
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		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	4,813
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax4,813	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 Click to see attachment

List of Attached Documents:

// Content

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

Yes

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

Yes

Website address right arrow

N/A

The books are in care of right arrow

THE TELLURAY FOUNDATION Telephone no. right arrow

(303) 536-5408

Located at right arrow

5856 S LOWELL BLVD 32-201LITTLETONCO ZIP+4 right arrow

80123

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)

Yes

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

1a(4)

Yes

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

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

1a(5)

(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? ..............................

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)

Yes

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

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

5a(5)

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 ........

Yes

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

Yes

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

List of Attached Documents:

// Content

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

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

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

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

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

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

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

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

Part VII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation
CHARLES W ERGEN	PRESIDENT, DIRECTOR 1.00	0	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	PRESIDENT, DIRECTOR 1.00	0	0
CANTEY M ERGEN	VICE PRESIDENT, DIRECTOR 1.00	0	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	VICE PRESIDENT, DIRECTOR 1.00	0	0
WILLIAM R GOUGER	TREASURER 1.00	0	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	TREASURER 1.00	0	0
ROBERT J HOOKE	SECRETARY 1.00	0	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	SECRETARY 1.00	0	0
CHRISTOPHER W ERGEN	DIRECTOR 1.00	0	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	DIRECTOR 1.00	0	0
COURTNEY M ERGEN	DIRECTOR 1.00	0	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	DIRECTOR 1.00	0	0
KATHERINE NE FLYNN	DIRECTOR 1.00	0	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	DIRECTOR 1.00	0	0
REILLY O FLYNN	DIRECTOR 1.00	0	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	DIRECTOR 1.00	0	0
KEVIN M MURRAY	DIRECTOR 1.00	0	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	DIRECTOR 1.00	0	0
KERRY E MURRAY	DIRECTOR 1.00	0	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	DIRECTOR 1.00	0	0
MOLLY CHAFETZ	FOUNDATION DIRECTOR 40.00	120,000	8,468
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	FOUNDATION DIRECTOR 40.00	120,000	8,468

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
ELIZABETH WAY	PROGRAM OFFICER 40.00	66,136	3,881	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	PROGRAM OFFICER 40.00	66,136	3,881	0
NICOLE DYER	PROGRAM ASSOCIATE 40.00	62,841	4,889	0
5856 S LOWELL BLVD 32-201 LITTLETON,CO80123	PROGRAM ASSOCIATE 40.00	62,841	4,889	0






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
SUMMIT CAPITAL LLC	MANAGEMENT SERVICES	150,000
PO BOX 610 LITTLETON,CO80160	MANAGEMENT SERVICES	150,000
CRESTONE CAPITAL	INVESTMENT MANAGEMENT	118,070
1048 PEARL STREET BOULDER,CO80302	INVESTMENT MANAGEMENT	118,070

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

61,567,821

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

1,103,664

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

7,852,837

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

70,524,322

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

70,524,322

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

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

1,057,865

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

69,466,457

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

3,473,323

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

3,473,323

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

22,559

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

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

22,559

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

3,450,764

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

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

3,450,764

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

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

3,450,764

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 ..........

5,095,511

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. .......

5,095,511

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				3,450,764
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......			5,023,874
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......
e From 2022......
f Total of lines 3a through e ........	0
4Qualifying distributions for 2023 from Part
XI, line 4: $ 5,095,511
a Applied to 2022, but not more than line 2a			5,023,874
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.....				71,637
e Remaining amount distributed out of corpus	0
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	0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........		0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......		0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........		0
e Undistributed income for 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 ..........				3,379,127
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 ......	0
10 Analysis of line 9:
a Excess from 2019....
b Excess from 2020....
c Excess from 2021....
d Excess from 2022....
e Excess from 2023....

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).)

CHARLES W ERGEN

CANTEY M ERGEN

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 email address of the person to whom applications should be addressed:

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

cAny submission deadlines:

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

Form 990-PF (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
ALLIANCE FOR MUSIC EDUCATION EQUITY 1385 S COLORADO BLVD DENVER,CO80222	N/A	PC	RESOURCE FAIR AND FESTIVAL 2023	5,000
ARAPAHOE COMMUNITY COLLEGE FOUNDATION 5900 SOUTH SANTA FE DRIVE LITTLETON,CO801609002	N/A	PC	LITTLETON COMMUNITY LEADERSHIP PROGRAM	126,043
ARAPAHOE COUNTY FOUNDATION 1690 W LITTLETON BLVD LITTLETON,CO80120	N/A	PC	PARTNERING FOR THE HOLIDAYS 2023	4,154
ARAPAHOE SANTA CLAUS SHOP PO BOX 2004 LITTLETON,CO80161	N/A	PC	TOYS FOR KIDS 2023	1,038
CASA OF THE 7TH JUDICIAL DISTRICT 147 N TOWNSEND MONTROSE,CO81401	N/A	PC	RENT-MATCH PILOT PROGRAM FOR EMANCIPATED FOSTER YOUTH	60,960
CHILDREN'S HOSPITAL COLORADO FOUNDATION 13123 E 16TH AVENUE BOX 045 AURORA,CO800457106	N/A	PC	ADDRESSING THE YOUTH MENTAL HEALTH CRISIS	500,000
CITY OF LITTLETON 2255 WEST BERRY AVE LITTLETON,CO80120	N/A	PC	MAIN STREET ACTIVATION	25,000
COLORADO BUSINESS COMMITTEE FOR THE ARTS 1325 S COLORADO BLVD SUITE 605 DENVER,CO80222	N/A	PC	ARTIST PROFESSIONAL DEVELOPMENT	30,000
COLORADO ENVIRONMENTAL FILM FESTIVAL PO BOX 491 GOLDEN,CO80402	N/A	PC	COLORADO ENVIRONMENTAL FILM FESTIVAL 2023	5,000
CROSSPURPOSE 3050 RICHARD ALLEN CT DENVER,CO80205	N/A	PC	CROSSPURPOSE TRI-CITIES: LAUNCHING SUSTAINABLE PROGRAMMING	95,000
DENVER BOTANIC GARDENS 9009 YORK STREET DENVER,CO80206	N/A	PC	CAPITAL SUPPORT FOR CHATFIELD MASTER PLAN	500,000
DENVER URBAN GARDENS 1031 33RD STREET STE 100 DENVER,CO80205	N/A	PC	GENERAL OPERATING SUPPORT	75,000
DIRT COFFEE BAR 5767 S RAPP STREET LITTLETON,CO80120	N/A	PC	IWEP RENEWAL	57,000
ELIZABETH'S SMILE 5103 DUVALL DRIVE BETHESDA,MD20816	N/A	PC	ONLINE COMMUNITY FOR GRIEVING CHILDREN	75,000
GRACEFULL FOUNDATION 5610 S CURTICE ST LITTLETON,CO80120	N/A	PC	GENERAL OPERATING SUPPORT	25,000
GRACEFULL FOUNDATION 5610 S CURTICE ST LITTLETON,CO80120	N/A	PC	SPONSOR 2023 COMMUNITY BREAKFAST	3,500
HISTORY COLORADO 1200 BROADWAY DENVER,CO80203	N/A	PC	JOHN FIELDER ARCHIVES	250,000
INSIDE THE ORCHESTRA 7010 BROADWAY STE 204 DENVER,CO80221	N/A	PC	COMPREHENSIVE MUSIC PROGRAM PILOT	30,000
INTEGRATED FAMILY COMMUNITY SERVICES 3370 SOUTH IRVING STREET ENGLEWOOD,CO80110	N/A	PC	HOLIDAY GRANT 2023	3,115
LITTLETON BUSINESS CHAMBER 2679 W MAIN ST 300-282 LITTLETON,CO80120	N/A	NC	COMUNITY BUILDING AND OUTREACH	70,000
LITTLETON LIFE CENTER 5804 S DATURA ST LITTLETON,CO80120	N/A	PC	LET'S DO CHRISTMAS 2023	3,115
LITTLETON MUSEUM 6028 S GALLUP ST LITTLETON,CO80120	N/A	PC	PERMANENT GALLERY RENOVATION	125,000
LITTLETON PUBLIC SCHOOLS FOUNDATION 5776 S CROCKER ST LITTLETON,CO801202012	N/A	PC	ANATOMAGE TABLE	70,000
LITTLETON TOWN HALL ARTS CENTER 2450 W MAIN ST LITTLETON,CO80120	N/A	PC	GENERAL OPERATING SUPPORT	50,000
MI CASA RESOURCE CENTER 345 S GROVE ST DENVER,CO80219	N/A	PC	BUSINESS PATHWAY PROGRAM TO FUEL THE TRI-CITIES SMALL BUSINESS ENGINE	168,000
MULTIDISCIPLINARY ASSOCIATION FOR PSYCHEDELIC STUDIES 3141 STEVENS CREEK BLVD 40563 SAN JOSE,CA95117	N/A	PC	PSYCHEDELIC SCIENCE 2023 SCHOLARSHIPS	56,250
NATIONAL WILDLIFE FEDERATION 11100 WILDLIFE CENTER DR RESTON,VA20190	N/A	PC	LITTLETON NATURE WITHIN REACH PHASE 2	173,028
NEW TREKS 621 KALAMATH STREET STE 62 DENVER,CO80204	N/A	PC	GENERAL OPERATING SUPPORT	5,000
NORTH LITTLETON PROMISE 5397 S FOX STREET LITTLETON,CO80120	N/A	PC	EAST COMMUNITY CENTER EXPANSION	25,000
NOURISH COLORADO 1490 LAFAYETTE ST STE 403 DENVER,CO80218	N/A	PC	RENEWAL - PRODUCE BOX PROGRAM	150,000
NOURISH MEALS ON WHEELS 92 E ARAPAHOE ROAD LITTLETON,CO80122	N/A	PC	HOLIDAY GRANT 2023	5,192
OPEN ARMS FOOD BANK 6500 WEST COAL MINE AVENUE LITTLETON,CO80123	N/A	PC	HOLIDAY GRANT 2023	2,077
OURAY PUBLIC LIBRARY 320 6TH AVENUE OURAY,CO81427	N/A	PC	EXPANSION OF YOUTH MENTAL HEALTH LIBRARY PROGRAMS	5,000
PHILANTHROPY COLORADO 5855 WADSWORTH BYPASS UNIT A ARVADA,CO80003	N/A	PC	PHILANTHROPY COLORADO 2023	4,430
REACH OUT AND READ COLORADO 3705 MARTIN LUTHER KING JR BLVD DENVER,CO80205	N/A	PC	GENERAL OPERATING SUPPORT	35,000
SAN JUAN MOUNTAINS ASSOCIATION 15 BURNETT CT DURANGO,CO81301	N/A	PC	CROWN OF THE SAN JUANS ENVIRONMENTAL OUTREACH	22,000
SCHWAB CHARITABLE FUND 211 MAIN STREET SAN FRANCISCO,CA941051905	N/A	PC	TELLURAY FUND 2023	1,571,094
SOUTH SUBURBAN PARKS AND RECREATION 4810 E COUNTY LINE ROAD LITTLETON,CO80126	N/A	PC	SOUTH PLATTE PARK FOREST PLAN	20,000
THE NATIONAL TRUST FOR LOCAL NEWS 405 WALTHAM STREET LEXINGTON,MA02421	N/A	PC	ADDITIONAL REPORTING FOR LITTLETON INDEPENDENT	50,000
VOLUNTEERS FOR OUTDOOR COLORADO PO BOX 100577 DENVER,CO80250	N/A	PC	OURAY AREA STEWARDSHIP CAPACITY BUILDING HUB	15,000
VOLUNTEERS OF AMERICA - COLORADO 2660 LARIMER STREET DENVER,CO80205	N/A	PC	SANTA SHOP FOR TEENS 2023	2,077
WESTERN WELCOME WEEK INC 5890 S BEMIS STREET LITTLETON,CO80120	N/A	PC	INCREASED CAPACITY	5,000
WINGS OVER THE ROCKIES AIR & SPACE MUSEUM 7711 E ACADEMY BLVD DENVER,CO80230	N/A	PC	DRONE TRAINING AND EDUCATION PROGRAM	30,000
WORK OPTIONS FOR WOMEN DBA WORK OPTIONS 1895 QUEBEC ST DENVER,CO802201942	N/A	PC	CULINARY APPRENTICESHIP AND EMPLOYER SUPPORT PROGRAM	51,480
Total ................................. 3a				4,584,553

bApproved for future payment
GRACEFULL FOUNDATION 5610 S CURTICE ST LITTLETON,CO80120	N/A	PC	SPONSOR 2024 COMMUNITY BREAKFAST	3,500
PHILANTHROPY COLORADO 5855 WADSWORTH BYPASS UNIT A ARVADA,CO80003	N/A	PC	PHILANTHROPY COLORADO 2024	2,450
Total ................................. 3b				5,950

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.)
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	1,122,223
4 Dividends and interest from securities ....			14	727,178
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	-30,575
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aMISCELLANEOUS INCOME			01	81
bPARTNERSHIP DISTRIBUTIONS			01	101,877
cCAPITAL GAIN DISTRIBUTIONS			18	12,311
dMISC. INVESTMENT INCOME			01	9,253
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		1,942,348	0

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

1,942,348

(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 TELLURAY FOUNDATION

EIN:

20-1090247

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING	26,539	13,270		13,270

- TIN:

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

TY 2023 ExpenditureResponsibilityStmt

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

Grantee's Name	Grantee's Address	Grant Date	Grant Amount	Grant Purpose	Amount Expended By Grantee	Any Diversion By Grantee?	Dates of Reports By Grantee	Date of Verification	Results of Verification
LITTLETON BUSINESS CHAMBER	2679 W MAIN ST 300-282 LITTLETON,CO80120	2023-12-21	70,000	COMMUNITY BUILDING EVENTS AND OUTREACH	60,717		03/01/2024; 06/06/2024; AND 09/05/2024	2024-09-05

- TIN:

TY 2023 InvestmentsCorpBondsSchedule

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ADVENT HEALTH SYSTEM	199,682	199,682
AMERICAN CRYSTAL SUGAR	949,752	949,752
ATHENE GLOBAL FUNDING	1,414,062	1,414,062
BANK OF AMERICA CORP	475,000	475,000
BANK OF AMERICA CORP	400,000	400,000
CANADIAN NATIONAL RAILWAY	249,317	249,317
CITIBANK, NA	400,000	400,000
HYUNDAI CAPITAL AMERICA	899,379	899,379
INVESCO FINANCE	99,866	99,866
LAND O LAKES - 7.000% - 09/18/2068	633,800	633,800
MONTANA-DAKOTA UTILITIES	498,514	498,514
PNC FINANCIAL SERVICES	194,190	194,190
PRINCIPAL LIFE GLB	480,115	480,115
ROYAL BANK OF CANADA - SOFR	225,000	225,000
TORONTO-DOMINION BANK	936,837	936,837
TRANSCANADA PIPELINES	1,142,601	1,142,601
US BANCORP	1,424,340	1,424,340
VW CREDIT INC	597,848	597,848

- TIN:

TY 2023 InvestmentsCorpStockSchedule

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ACCENTURE PLC-CL A	7,018	7,018
ADVANTAST CORP-SPON ADR	4,590	4,590
ADYEN NV-UNSPON ADR	8,102	8,102
AGTX FARM CRED SERV	947,568	947,568
AMER AGCREDITACA	1,395,000	1,395,000
AMG YACKTMAN FOCUSED FUND CLASS I	238,265	238,265
AON PLC- CLASS A	6,693	6,693
ARCH CAPITAL GROUP LTD	5,570	5,570
ARTISAN INTL INDX-INST	122,214	122,214
ARTISAN INTL VAL-INST	36,705	36,705
ASM INTERNATIONAL-NY REG SHS	5,711	5,711
ASML HOLDING NV- NY REG SHS	8,326	8,326
ASTRAZENECA PLC-SPONS ADR	6,061	6,061
ATHENE HOLDING LTD	449,600	449,600
ATLAS COPCO AB- SPONS ADR A	4,819	4,819
ATLASSIAN CORP PLC-CLASS A	9,514	9,514
BAE SYSTEMS PLC - SPON ADR	6,823	6,823
BAILLIE GIFFORD INTL CONCENTRATED GROWTH EQUITIES FUND	62,690	62,690
BAILLIE GIFFORD INTL CONCENTRATED GROWTH EQUITIES FUND	266,180	266,180
BANK OF AMERICA CORP	346,441	346,441
BARON HEALTH CARE INSTITUTIONAL FUND CLASS	30,985	30,985
BARON HEALTH CARE INSTITUTIONAL FUND CLASS	194,580	194,580
BLACKROCK STRATEGIC INCOME OPPORTUNITIES PORT FUND INSLT CLASS	152,127	152,127
CANADIAN NATURAL RESOURCES	4,324	4,324
CANADIAN PACIFIC KANSAS CITY	11,543	11,543
CAPITAL FARM CREDIT ACA	708,750	708,750
CITIGROUP INC	303,639	303,639
CLARKSTON PARTNERS FUND INSTITUTIONAL CLASS	115,593	115,593
CLARKSTON PARTNERS FUND INSTITUTIONAL CLASS	26,765	26,765
COBANK ACB - 6.125% - PFD SER G	121,250	121,250
COMERICA INC	341,171	341,171
COMPASS GROUP PLC-SPON ADR	3,921	3,921
COMPEER FINANCIALACA	803,250	803,250
DISH NETWORK CORPORATION	12,514,986	12,514,986
DODGE & COX INCOME	138,738	138,738
DODGE & COX INCOME	409,071	409,071
ECHOSTAR CORP-A	89,478	89,478
EDGEWOOD GROWTH FUND INSTITUTIONAL CLASS	83,133	83,133
EDGEWOOD GROWTH FUND INSTITUTIONAL CLASS	371,311	371,311
EPAM SYSTEMSINC	3,568	3,568
EVOLUTION AB	6,209	6,209
EXPERIAN PLC- SPONS ADR	6,030	6,030
FERGUSON PLC	6,951	6,951
FERRARI NV	10,153	10,153
FIDELITY 500 INDEX-INST PRM	2,255,505	2,255,505
FIDELITY 500 INDEX-INST PRM	660,261	660,261
FIDELITY ADV CONV INC BD-Z	20,917	20,917
FIDELITY ADV CONV INC BND	91,570	91,570
FIDELITY INTL INDEX-INST PRM	63,472	63,472
FIDELITY INTL INDEX-INST PRM	146,292	146,292
FPA NEW INCOME INC COM	227,133	227,133
GOLDMAN SACHS GQG PARTNERS	230,745	230,745
GOLDMAN SACHS GQG PARTNERS	42,579	42,579
GQG PARTNERS EMERGING MARKETS EQUITY FUND	63,542	63,542
GQG PARTNERS EMERGING MARKETS EQUITY FUND	351,771	351,771
HEALTHCARE SELECT SECTOR	30,413	30,413
ICICI BANK LTD-SPON ADR	5,459	5,459
ICON PLC	9,907	9,907
INDUSTRIAL SELECT SECT SPDR	100,785	100,785
INVESCO QQQ TRUST SERIES	307,550	307,550
INVESCO QQQ TRUST SERIES	97,875	97,875
INVESCO S&P 500 EQUAL WEIGHT	50,969	50,969
INVESCO S&P 500 EQUAL WEIGHT	149,437	149,437
ISHARES 7-10 YEAR TREASURY B	130,608	130,608
ISHARES 7-10 YEAR TREASURY B	401,175	401,175
ISHARES BIOTECH ETF	46,325	46,325
ISHARES BIOTECHNOLOGY ETF	17,253	17,253
ISHARES CORE MSCI EMERGING	414,200	414,200
ISHARES CORE MSCI EMERGING	124,174	124,174
ISHARES CORE S&P MIDCAP ETF	63,467	63,467
ISHARES MSCI CANADA ETF	73,360	73,360
ISHARES MSCI CANADA ETF	23,072	23,072
ISHARES MSCI JAPAN ETF	68,502	68,502
ISHARES MSCI JAPAN ETF	228,531	228,531
ISHARES TR RUSSELL 1000 GROWTH ETF	477,493	477,493
ISHARES TR RUSSELL 1000 GROWTH ETF	119,752	119,752
ISHARES TR RUSSELL 1000 VALUE ETF	288,031	288,031
ISHARES TR RUSSELL 2000 VALUE ETF	29,202	29,202
ISHARES TR RUSSELL 2000 VALUE ETF	113,080	113,080
ISHARES TR RUSSSELL 2000 GROWTH ETF	190,174	190,174
ISHARES TR RUSSSELL 2000 GROWTH ETF	37,076	37,076
KEYCORP KEY L	34,336	34,336
LINDE PLC	5,750	5,750
LOREAL UNSPONSORED ADR	5,567	5,567
LVMH MOET HENNESSY- UNSPADR	6,011	6,011
MAINGATE MLP FUND INSTITUTIONAL CLASS	88,011	88,011
MATTHEWS CHINA FUND-INS	15,440	15,440
MATTHEWS CHINA FUND-INS	55,544	55,544
MERCADOLIBRE INC	7,858	7,858
MORGAN STANLEY	301,335	301,335
NESTLE SA- SPONS ADR	5,897	5,897
NOVO- NORDISK A/ S- SPONS ADR	12,000	12,000
PIMCO TOTAL RETURN FUND-INST	139,088	139,088
PIMCO TOTAL RETURN FUND-INST	95,844	95,844
RBC GLOBAL OPPORTUNITIES FUND CLASS	254,190	254,190
RBC GLOBAL OPPORTUNITIES FUND CLASS	40,136	40,136
REGIONS FINANCIAL CORP	145,659	145,659
SAFRAN SA-UNSPON ADR	6,311	6,311
SCHNEIDER ELECT SE-UNSP ADR	4,506	4,506
SCHWAB U.S. TIPS ETF	45,831	45,831
SCHWAB U.S. TIPS ETF	151,589	151,589
SELECT SECTOR SPDR TR TECHNOLOGY	18,478	18,478
SPDR EURO STOXX 50 ETF	148,402	148,402
SPDR EURO STOXX 50 ETF	44,607	44,607
SPDR S&P 500 ETF TR TR UNIT	226,247	226,247
SPYGLASS GROWTH FUND INSTITUTIONAL CLASS	53,993	53,993
SPYGLASS GROWTH FUND INSTITUTIONAL CLASS	211,947	211,947
STERIS PLC	6,156	6,156
STIFEL FINANCIAL CORP	345,660	345,660
STIFEL FINANCIALCORP	251,300	251,300
THOMSON REUTERS CORPORATION	4,971	4,971
TOUCHSTONE SANDS CAPITAL EMERGING MARKETS GROWTH FUND	252,839	252,839
UBS GROUP AG-REG	4,944	4,944
US DOLLAR JPM DEPOSIT SWEEP	3,867	3,867
US DOLLAR JPM DEPOSIT SWEEP	61	61
VANECK GOLD MINERS ETF	49,027	49,027
VANECK GOLD MINERS ETF	14,265	14,265
VANECK OIL SERVICES ETF	99,975	99,975
VANECK OIL SERVICES ETF	30,023	30,023
VANGUARD FTSE EUROPE ETF	199,243	199,243
VANGUARD FTSE EUROPE ETF	63,190	63,190
VANGUARD INDEX FDS REAL ESTATE INDEX FD ETF	7,952	7,952
VANGUARD INDEX FDS REAL ESTATE INDEX FD ETF	181,138	181,138
VANGUARD MID-CAP ETF	212,574	212,574
VANGUARD TOTAL BOND MARKET INDEX-ADM	1,756,198	1,756,198
VANGUARD TOTAL BOND MARKET INDEX-ADM	494,827	494,827
WASTE CONNECTIONS INC	5,075	5,075
WCM INTERNATIONAL SMALL CAP	44,771	44,771
WCM INTERNATIONAL SMALL CAP	16,258	16,258
WELLS FARGO & COMPANY WFC	777,153	777,153
WISDOM TREE JAPAN JAPAN HEDGED EQ	44,694	44,694
WISDOM TREE JAPAN JAPAN HEDGED EQ	16,276	16,276

- TIN:

TY 2023 InvestmentsGovtObligationsSch

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

US Government Securities - End of Year Book Value:

1,988,734

US Government Securities - End of Year Fair Market Value:

1,988,734

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

781,774

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

781,774

- TIN:

TY 2023 InvestmentsOtherSchedule2

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
BC SCHOOLHOUSE INVESTORS LEXINGTON LLC	FMV	1,320,000	1,320,000
BEAR CREEK DEBT WAREHOUSE LLC (SILVERADO BREA)	FMV	1,000,000	1,000,000
BEAR CREEK DEBT WAREHOUSE LLC (SILVERADO)	FMV	3,000,000	3,000,000
CARIBOU GLOBAL EQUITY FUND LP	FMV	300,000	300,000
COHEN & STEERS RL EST-F	FMV	30,425	30,425
COHEN & STEERS RL EST-F	FMV	102,831	102,831
CRESTONE ALTERNATIVE STRATEGIES LTD	FMV	1,940,000	1,940,000
CRESTONE KENOSHA HY VII	FMV	201,000	201,000
CRESTONE KENOSHA MUNI III	FMV	447,750	447,750
CRESTONE MAROON PEAK XI	FMV	549,500	549,500
CRESTONE MAROON PEAK XII	FMV	160,000	160,000
CRESTONE MONTEZUMA VI LP	FMV	303,000	303,000
GREATER COLORADO VENTURE FUND LP	FMV	375,000	375,000
GROSVENOR ALT INV CL B (7003)	FMV	418,084	418,084
GROSVENOR ALT INV CL B (7004)	FMV	1,338,922	1,338,922
ISHARES GOLD TRUST	FMV	160,843	160,843
ISHARES GOLD TRUST	FMV	43,636	43,636
KENOSHA CREDIT OPPORTUNITIES FUND	FMV	1,366,355	1,366,355
KENOSHA HIGH YIELD FUND VI LP	FMV	178,270	178,270
KENOSHA MUNI OPPORTUNITY FUND II LP	FMV	414,901	414,901
MAPS PUBLIC BENEFIT CORPORATION	FMV	500,000	500,000
MAROON PEAKS PRIVATE EQUITY FUND IX	FMV	403,557	403,557
MAROON PEAKS PRIVATE EQUITY FUND X	FMV	467,502	467,502
MONTEZUMA FUND IV LP	FMV	271,098	271,098
MONTEZUMA FUND V LP	FMV	282,473	282,473
MONTEZUMA VII LP	FMV	146,250	146,250
PIMCO COMMODITYPL START INS	FMV	122,425	122,425
PIMCO COMMODITYPL START INS	FMV	39,515	39,515

- TIN:

TY 2023 LegalFeesSchedule

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL	10,982	5,491		5,491

- TIN:

TY 2023 OtherDecreasesSchedule

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

Description	Amount
UNREALIZED LOSSES ON INVESTMENTS	15,333,090

- TIN:

TY 2023 OtherExpensesSchedule

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

Description	Revenue and Expenses per Books	Disbursements for Charitable Purposes
OFFICE EXPENSES	998	998
MISCELLANEOUS	78	78
FILING FEES	117	117
COMPUTER HARDWARE	200	200
TRAINING & EDUCATION	320	320
RECRUITING	600	600
CHARITABLE USE PROPERTY EXPENSES	2,430	2,430
DUES & SUBSCRIPTIONS	4,155	4,155
SOFTWARE & SUBSCRIPTIONS SERVICES	3,023	3,023

- TIN:

TY 2023 OtherIncomeSchedule2

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
BC SCHOOLHOUSE INVESTORS		124,719
BTCH INVESTORS LLC		123,386
CARIBOU GLOBAL EQUITY FUND, LP #88		3,234
CARIBOU GLOBAL EQUITY FUND, LP #98		1,976
GREATER COLORADO VENTURE FUND		-6,107
GREATER COLORADO VENTURE FUND II (FULL)		-6,201
GREATER COLORADO VENTURE FUND II (G2)		-6,201
KENOSHA CREDIT OPPORTUNITIES FUND, LP #169		15,554
KENOSHA CREDIT OPPORTUNITIES FUND, LP #170		52,704
KENOSHA HIGH YIELD FUND VI, LP #84		2,946
KENOSHA HIGH YIELD FUND VI, LP #85		5,583
KENOSHA HIGH YIELD FUND VII - FULL		1,936
KENOSHA HIGH YIELD FUND VII - G2		5,995
KENOSHA MUNI OPPORTUNITY FUND II, LP #57		1,384
KENOSHA MUNI OPPORTUNITY FUND II, LP #58		2,766
KENOSHA MUNI OPPORTUNITY FUND III - FULL		-1,015
KENOSHA MUNI OPPORTUNITY FUND III - G2		-2,031
MAROON PEAKS PRIVATE EQUITY FUND XI		-7,862
MAROON PEAKS PRIVATE EQUITY FUND IX, LP		-38,829
MAROON PEAKS PRIVATE EQUITY FUND X, LP		-12,524
MONTEZUMA FUND IV, LP		-4,422
MONTEZUMA FUND V, LP		-4,576
MONTEZUMA FUND VI		-4,058
MONTEZUMA FUND VII, LP		-8,345
MAROON PEAKS PRIVATE EQUITY FUND XII		-10,158
BEAR CREEK DEBT WAREHOUSE LLC		99,709
MISCELLANEOUS INCOME	81	81	81
PARTNERSHIP DISTRIBUTIONS	101,877		101,877
CAPITAL GAIN DISTRIBUTIONS	12,311		12,311
MISC. INVESTMENT INCOME	9,253	9,253	9,253

- TIN:

TY 2023 OtherLiabilitiesSchedule

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

Description	Beginning of Year - Book Value	End of Year - Book Value
CREDIT CARDS PAYABLE	319	92

- TIN:

TY 2023 OtherProfessionalFeesSchedule

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT SERVICES	187,978	187,978	0
ADMINISTRATIVE SERVICES	177,000	7,500	169,500
OTHER PROFESSIONAL FEES	2,262	0	2,262

- TIN:

TY 2023 TaxesSchedule

Name:

THE TELLURAY FOUNDATION

EIN:

20-1090247

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
EXCISE TAX	39,854	0		0
OTHER	818	0		818