Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
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 right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$93,681,074J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 264,060
2 Check right arrow.............
3 Interest on savings and temporary cash investments 1,104,980 1,104,980  
4 Dividends and interest from securities... 540,063 651,239  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,678,909
b Gross sales price for all assets on line 6a 14,618,739
7 Capital gain net income (from Part IV, line 2)... 1,678,909
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
349,342 349,342  
12 Total. Add lines 1 through 11........ 3,937,354 3,784,470  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 60,000 0   60,000
14 Other employee salaries and wages...... 41,160 0   41,160
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
43,104 43,104   0
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
342,108 342,108   0
17 Interest............... 12 0   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
45,332 35,219   10,113
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
294,296 274,473   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 826,012 694,904   111,273
25 Contributions, gifts, grants paid....... 8,760,703 8,760,703
26 Total expenses and disbursements. Add lines 24 and 25 9,586,715 694,904   8,871,976
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -5,649,361
b Net investment income (if negative, enter -0-) 3,089,566
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 80,847 45,532 45,532
2 Savings and temporary cash investments......... 979,887 698,880 698,880
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 61,154 Click to see attachment
List of Attached Documents:
// Content
4,992,902 		8,713,599
b Investments—corporate stock (attach schedule)....... 25,235,787 Click to see attachment
List of Attached Documents:
// Content
17,341,946 		21,424,878
c Investments—corporate bonds (attach schedule)....... 25,794,463 Click to see attachment
List of Attached Documents:
// Content
27,519,459 		28,420,701
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 21,378,730 Click to see attachment
List of Attached Documents:
// Content
17,466,843 		33,827,484
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
1,550,760 		Click to see attachment
List of Attached Documents:
// Content
550,000 		Click to see attachment
List of Attached Documents:
// Content
550,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 75,081,628 68,615,562 93,681,074
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
171,675 		Click to see attachment
List of Attached Documents:
// Content
207,695
23 Total liabilities (add lines 17 through 22)......... 171,675 207,695
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
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 right arrow
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 74,909,953 68,407,867
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 74,909,953 68,407,867
30 Total liabilities and net assets/fund balances (see instructions). 75,081,628 68,615,562
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
74,909,953
2
Enter amount from Part I, line 27a .....................
2
-5,649,361
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
69,260,592
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
852,725
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
68,407,867
Form 990-PF (2024)
Form 990-PF (2024)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a FIDELITY 3476 P    
b FIDELITY 3477 P    
c FIDELITY 3478 P    
d FIDELITY 3478 P    
e FIDELITY 7561 P    
FIDELITY 5554 P    
FIDELITY 5554 P    
RENEWAL3 US LIMITED D    
HGI BSW FUND II LLC D    
EDGE PRINCIPAL INVESTMENTS III LP D    
EDGE PRINCIPAL INVESTMENTS IV LP D    
LS POWER FUND III FEEDER I LP D    
NEW SUMMIT IMPACT FUND II-B LP D    
HGI OPPORTUNITY SELECT FUND IV LP 1231 LOSS D    
HGI BSW FUND III LLC 1231 LOSS D    
MIMG XLV TOWN AND COUNTRY LLC 1231 GAIN D    
EDGE PRINCIPAL INVESTMENTS III LP 1231 GAIN D    
EDGE PRINCIPAL INVESTMENTS II LP D    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 1,215,615   1,212,232 3,383
b 183,589   183,623 -34
c 15,000   14,995 5
d 1,834,063   1,835,832 -1,769
e 1,863,628   1,595,606 268,022
3,789,116   3,484,028 305,088
5,018,313   4,532,324 485,989
    62,749 -62,749
    1,255 -1,255
118,466     118,466
574     574
    230 -230
99,407     99,407
    10,229 -10,229
    6,727 -6,727
83,443     83,443
396,957     396,957
568     568
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       3,383
b       -34
c       5
d       -1,769
e       268,022
      305,088
      485,989
      -62,749
      -1,255
      118,466
      574
      -230
      99,407
      -10,229
      -6,727
      83,443
      396,957
      568
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,678,909
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
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 right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 42,945
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 42,945
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 42,945
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 83,873
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 83,873
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.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 40,928
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow40,928 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowCO
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowNA
14
The books are in care ofright arrowDANETTE TYE Telephone no.right arrow (303) 449-4707

Located atright arrow6658 GUNPARK DRIVE SUITE 202ABOULDERCO ZIP+4right arrow80301
15
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
15
 
16 At any time during calendar year 2024, 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 (2024)
Form 990-PF (2024)
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
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
Yes
 
b
If "Yes," did it have excess business holdings in 2024 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 2024.) .....................
3b
 
No
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
ALAN COGEN VICE PRESIDENT
3.00 		30,000 0 0
6658 GUNPARK DRIVE 202A
BOULDER,CO80301
JUDITH COGEN PRESIDENT
3.00 		30,000 0 0
435 OAKWOOD PLACE
BOULDER,CO80304
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
Form 990-PF (2024)
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 arrow0
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 arrow0
Form 990-PF (2024)
Form 990-PF (2024)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
88,186,175
b
Average of monthly cash balances.......................
1b
2,139,948
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
90,326,123
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
90,326,123
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,354,892
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
88,971,231
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
4,448,562
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
4,448,562
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
42,945
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
42,945
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
4,405,617
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
4,405,617
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
4,405,617
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
8,871,976
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
8,871,976
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 4,405,617
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021...... 1,361,733
d From 2022...... 2,980,874
e From 2023...... 2,896,397
f Total of lines 3a through e ........ 7,239,004
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 8,871,976
a Applied to 2023, 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 2024 distributable amount..... 4,405,617
e Remaining amount distributed out of corpus 4,466,359
5 Excess distributions carryover applied to 2024. 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 11,705,363
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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		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 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		11,705,363
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021.... 1,361,733
c Excess from 2022.... 2,980,874
d Excess from 2023.... 2,896,397
e Excess from 2024.... 4,466,359
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
         
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 (2024)
Form 990-PF (2024)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

160 DRIVING ACADEMY

6025 PARKWAY DR UNIT 105
COMMERCE CITY,CO80022 		NA PC SCHOLARSHIP 275

COMPASS NURSING ARTS

108 W BASELINE RD
LAFAYETTE,CO80026 		NA PC SCHOLARSHIP 1,275

DENVER HEALTH

777 BANNOCK ST
DENVER,CO80204 		NA PC SCHOLARSHIP 1,665

FIDELITY CHARITABLE GIFT FUND

101 CROSBY PARKWAY
COVINGTON,KY41015 		NA PC DONATION 8,525,000

FRONT RANGE COMMUNITY COLLEGE

3645 W 112TH AVE
WESTMINSTER,CO80031 		NA PC SCHOLARSHIP 7,207

GALS INC

9019 MINES RD SUITE 3
LAREDO,TX78045 		NA PC SCHOLARSHIP 10,861

IBMC COLLEGE

3842 S MASON ST
FORT COLLINS,CO80525 		NA PC SCHOLARSHIP 8,590

KMG LIFE

1546 W BYERS PL
DENVER,CO80223 		NA PC SCHOLARSHIP 4,201

MSU DENVER

OFFICE OF THE BURSAR/CASHIER CAMPUS
BOX 3 PO BOX 173362
DENVER,CO80217 		NA PC SCHOLARSHIP 6,980

THE BEAUTY COLLECTIVE

1350 CARR ST
LAKEWOOD,CO80214 		NA PC SCHOLARSHIP 53,800

SCHOOL OF BOTANICAL & MEDICAL AESTHETICS

1221 GALAPAGO ST
DENVER,CO80204 		NA PC SCHOLARSHIP 8,590

ACCENT BEAUTY

1045 ACOMA ST 2
DENVER,CO80204 		NA PC SCHOLARSHIP 23,250

DENVER HEALTH EMS EDUCATION

190 W 6TH AVE
DENVER,CO80204 		NA PC SCHOLARSHIP 5,000

LASH & CO LASH COMPANY EDUCATION

16677 WASHINGTON ST
THORNTON,CO80023 		NA PC SCHOLARSHIP 6,760

COLORADO REAL ESTATE

7500 E ARAPAHOE RD 285
CENTENNIAL,CO80112 		NA PC SCHOLARSHIP 599

ABLETON MUSIC

36 W COLORADO BLVD SUITE 300
PASADENA,CA91105 		NA PC SCHOLARSHIP 299

I HAVE A DREAM

322 8TH AVENUE SUITE 201
NEW YORK,NY10001 		NA PC SCHOLARSHIP 7,348

PICKENS TECHNICAL COLLEGE

500 AIRPORT BLVD
AURORA,CO80011 		NA PC SCHOLARSHIP 5,418

CDL SCHOOL - UNITED STATES TRUCK DRIVING

8150 W 48TH AVE
WHEAT RIDGE,CO80033 		NA PC SCHOLARSHIP 39,805

ATI HOME IMPROVEMENT

2452 W 2ND AVENUE
DENVER,CO80223 		NA PC SCHOLARSHIP 7,860

COLORADO ADVANCED ESTHETICS

13111 E BRIARWOOD AVE 140
CENTENNIAL,CO80112 		NA PC SCHOLARSHIP 9,295

AVEDA INSTITUTE DENVER

801 KALAMATH ST
DENVER,CO80204 		NA PC SCHOLARSHIP 4,770

NBHWC

PO BOX 5091
SCOTTSDALE,AZ85251 		NA PC SCHOLARSHIP 500

COMPTIA

3500 LACEY ROAD SUITE 150
DOWNERS GROVE,IL60515 		NA PC SCHOLARSHIP 3,149

CORNELL UNIVERSITY

616 THURSTON AVE
ITHACA,NY14853 		NA PC SCHOLARSHIP 5,460

TOTAL SEMINARS

12929 GULF FWY
HOUSTON,TX77034 		NA PC SCHOLARSHIP 125

IEC ROCKY MOUNTAIN

11429 PEARL ST
NORTHGLENN,CO80233 		NA PC SCHOLARSHIP 1,476

COLORADO QMAP

1361 FRANCIS ST STE B-107
LONGMONT,CO80501 		NA PC SCHOLARSHIP 120

COLORADO COUNSELORS TRAINING

1017 KNOBCONE PL
LOVELAND,CO80538 		NA PC SCHOLARSHIP 1,360

EMILY GRIFFITH TECHNICAL COLLEGE

1860 LINCOLN ST
DENVER,CO80203 		NA PC SCHOLARSHIP 6,908
APRIL ZAVALA


5280 FEDERAL BLVD
DENVER,CO80221 		NA INDIVIDUAL SCHOLARSHIP 105
JULIANA FLOREZ


5280 FEDERAL BLVD
DENVER,CO80221 		NA INDIVIDUAL SCHOLARSHIP 54
CRAIG SPEAKMAN


1130 FRANCIS ST 7052
LONGMONT,CO80501 		NA INDIVIDUAL SCHOLARSHIP 2,548
JACKIE ABU-SHANAB


821 E CLEVELAND ST APT 1
LAFAYETTE,CO80026 		NA INDIVIDUAL SCHOLARSHIP 50
Total .................................right arrow 3a 8,760,703
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
Form 990-PF (2024)
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
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 1,104,980  
4 Dividends and interest from securities ....     14 540,063  
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 12,213  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 1,678,909  
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 RENTAL INCOME 		    34 -2,304  
bEDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH INCOME     34 -43,507  
cEDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH RENTAL INCOME     34 -438,098  
dEDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH INCOME     34 -505  
eEDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH RENTAL INCOME     34 -12,786  
fHGI BSW FUND II PASSTHROUGH RENTAL INCOME     34 1,357  
gHGI BSW FUND III PASSTHROUGH RENTAL INCOME     34 1,136  
hHGI OPPORTUNITY SELECT FUND IV PASSTHROUGH RENTAL INCOME     34 -943  
iLS POWER FUND III FEEDER 1 PASSTHROUGH INCOME     34 652,766  
jLS POWER FUND III FEEDER 1 PASSTHROUGH RENTAL INCOME     34 -2,007  
kMIMG BSW FUND II PASSTHROUGH RENTAL INCOME     34 92,492  
lMIMG BSW FUND III PASSTHROUGH RENTAL INCOME     34 40,104  
mMIMG XL HARBOR POINTE PASSTRHOUGH RENTAL INCOME     34 768  
nMIMG XLI COUNTRY ESTATES PASSTHROUGH RENTAL INCOME     34 4,676  
oMIMG XLV TOWN AND COUNTRY PASSTHROUGH RENTAL INCOME     34 -16,669  
pMIMG XXVIII HS MASTER PASSTHROUGH RENTAL INCOME     34 9,478  
qMIMG XXXII EDEN PARK PASSTHROUGH RENTAL INCOME     34 2,329  
rMIMG XXXVII CE MASTER PASSTHROUGH RENTAL INCOME     34 23,349  
sNEW SUMMIT IMPACT FUND II-B PASSTHROUGH INCOME     34 -423  
tNEW SUMMIT IMPACT FUND II-B PASSTHROUGH OTHER INCOME     34 15,602  
12 Subtotal. Add columns (b), (d), and (e) .. 0 3,673,294 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
3,673,294
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

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

26-1166378
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

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

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

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

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
THE CIELO FOUNDATION
  		Employer identification number
26-1166378
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
ESTATE OF LEE COGEN
 
435 OAKWOOD PLACE
 
BOULDER, CO80304

$ 264,060


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

$  


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

$  


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

$  


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

$  


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

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
THE CIELO FOUNDATION
  		Employer identification number

26-1166378
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
THE CIELO FOUNDATION
  		Employer identification number

26-1166378
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
THE CIELO FOUNDATION
EIN:
26-1166378
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 43,104 43,104   0

TY 2024 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 44,852 44,784
ADVENTIST HEALTH SYS WEST 20,275 20,017
ADVENTIST HEALTH SYS WEST 69,764 69,664
ADVENTIST HEALTH SYS WEST 125,698 123,704
ADVENTIST HEALTH SYS WEST 62,239 60,050
ADVENTIST HEALTH SYS WEST 154,824 154,631
ADVOCATE HEALTH & HOSPS 105,525 106,349
AKRON OHIO CTFS 40,005 38,577
ALLENTOWN PA CITY SCH DIST 225,003 221,573
AMERICAN WTR CAP CORP 33,822 33,820
ANAHEIM CALIF PUB FING AUTH 60,007 52,981
ARIZONA BRD REGENTS UNIV 145,007 134,041
ARIZONA INDL DEV AUTH 49,848 48,043
ARIZONA INDL DEV AUTH 104,691 101,294
ARIZONA INDL DEV AUTH 119,877 119,264
ARIZONA INDL DEV AUTH 50,295 46,924
ARKANSAS ST GO AMMEND 82 BDS 56,568 56,576
ARKANSAS ST TAXABLE WTR WASTE 25,125 24,358
BALDWIN PK CALIF PENSION OBLIG 60,674 57,221
BALDWIN PK CALIF PENSION OBLIG 245,004 240,891
BLOOMINGTON MINN SALES TAX 38,773 38,450
BOONE MCHENRY & DEKALB CNTYS ILL 260,009 239,333
BOSTON MED CTR CORP 132,700 133,728
BRIDGEPORT CONN GO REF 23,196 24,153
BROOKHAVEN NY LOC 29,946 30,013
BUENA PK CALIF PENSION 120,317 119,725
CALEXICO CALIF CMNTY REDEV 40,009 35,075
CALEXICO CALIF CMNTY REDEV 120,012 105,224
CALIFORNIA HEALTH FACS FING 41,006 42,976
CALIFORNIA INFRASTRUCTURE 180,008 172,814
CALIFORNIA MUN FIN AUTH 80,007 75,045
CALIFORNIA MUN FIN AUTH 100,100 99,003
CALIFORNIA ST GO BDS 227,014 199,651
CALIFORNIA ST UNIV REV 106,262 103,712
CALIFORNIA ST PUB WKS BRD 42,086 41,034
CALIFORNIA ST PUB WKS BRD 75,824 73,959
CALIFORNIA ST PUB WKS BRD 59,441 59,815
CALIFORNIA ST TAXABLE VAR PURP 26,476 26,218
CALIFORNIA ST VARIOUS PURP GO 37,171 37,226
CALIFORNIA STATEWIDE CMNTYS 184,920 198,256
CALIFORNIA STATEWIDE CMNTYS 175,917 173,539
CAMBRIA CNTY PA TAXABLE 35,006 32,115
CANADIAN CNTY OKLA EDL 25,012 25,346
CANTON OHIO CITY SCH DIST 150,076 150,704
CARBONDALE ILL TAXABLEGO 47,074 46,526
CARBONDALE ILL TAXABLEGO 25,681 25,378
CARMEL IND WTRWKS REV 25,015 24,750
CCM COMMUNITY IMPACT BOND FUND 271,700 242,725
CHICAGO ILL BRD ED TAXABLE 123,448 117,766
CHICAGO ILL BRD ED TAXABLE 30,935 29,336
CHICAGO ILL BRD ED TAXABLE 118,555 112,453
CHICAGO ILL GO BDS SER 2015 11,791 10,942
CHICAGO ILL GO BDS SER 2015 2,320 2,188
CHICAGO ILL GO BDS SER 2015 117,914 109,424
CHICAGO ILL GO BDS SER 2015 44,084 41,581
CHICAGO ILL MIDWAY ARPT REV 45,636 43,923
CHICAGO ILL PK DIST TAXABLE 23,468 22,957
CHINO CALIF PUB FING AUTH 40,008 34,337
CHOWCHILLA CALIF TAXABLE PENSION OBLI 35,001 34,798
CHRISTUS HEALTH 102,879 97,902
COLORADO HEALTH FACS AUTH 10,072 8,877
COLORADO HSG & FIND AUTH 59,987 60,125
COLORADO HSG & FIND AUTH 30,015 31,115
COLORADO HSG & FIND AUTH 44,993 45,094
COLORADO HSG & FIND AUTH 40,018 41,891
COLORADO HSG & FIND AUTH 212,848 212,988
COLUMBUS FRANKLIN CNTY OHIO FIN AUTH 112,825 106,490
COLUMBUS FRANKLIN CNTY OHIO FIN AUTH 53,380 52,825
COLUMBUS FRANKLIN CNTY OHIO FIN AUTH 143,594 135,533
COMMONSPIRIT HEALTH SER 2025A BOND 40,604 39,828
COMMONSPIRIT HEALTH SER 2020 BOND 82,843 87,864
COMMONSPIRIT HEALTH SER 2022 BOND 122,695 123,460
COMMONSPIRIT HEALTH SER 2022 BOND 102,624 102,883
COMMONSPIRIT HEALTH SER 2024A BOND 114,468 114,558
COMMONWEALTH FING AUTH PA REV 100,407 101,949
COMMONWEALTH FING AUTH PA REV 15,123 15,292
CONNECTICUT ARPT AUTH CUSTOMER FAC 15,228 13,878
CONNECTICUT ST GO BDS 40,420 39,905
CONNECTICUT ST HIGHER ED 23,948 23,092
CONNECTICUT ST HSG FIN AUTH 100,009 93,991
COOK CNTY ILL SCH 70,439 67,136
COOK CNTY ILL TAXABLE GO BDS 46,615 47,105
CREEK CNTY OKLAPUB FACS 45,682 44,166
CREEK CNTY OKLAPUB FACS 121,639 116,729
CRESTWOOD VLG ILL TAXABLE 30,008 25,618
DALLAS FORT WORTH TEX INTL ARPT REV 30,339 25,952
DENVER COLO CITY& CNTY 63,352 55,995
DETROIT MICH CITY SCH DIST 0 5,033
DONNA TEX DEV CORP SALES 30,014 30,023
DOUGLAS CNT NEB SCH 71,284 73,515
DUKE ENERGY IND LLC BOND 197,548 187,775
DUKE ENERGYCAROLINAS LLC 49,172 47,289
DUKE ENERGY PROGRESS LLC 34,760 34,595
EAST BATON ROUGE LA SEW 69,540 69,948
EAST PEORIA ILL GO BDS 118,707 115,841
EASTERN ILL UNIV CTFS PARTN 20,014 20,029
EMERYVILLE CALIF ELECTION 2018 24,654 24,029
ENCINITAS CALIF SPL TAX REF 125,010 106,569
ESSEX CNTY N J IMPT AUTH 30,006 26,896
EVERGREEN PARK ILL GO TAXABLE BDS 52,873 50,343
EVERGREEN PARK ILL GO TAXABLE BDS 58,160 55,377
FAIRFAX CNTY VA ECONOMIC 65,017 62,336
FAYETTEVILLE GA PUB 70,009 61,865
FEDERAL FARM CR BKS BOND 39,952 39,802
FLORIDA PWR &LT CO BOND 26,530 26,145
FRESNO CALIF REF PENSION 55,696 51,817
GARY IND CMNT SCH BLDG 120,011 110,246
GRANITE CITY ILL TAXABLE GO BDS SER 101,053 99,052
GREENVILLE SPARTANBURG S C 175,283 163,384
HAMDEN CONN GO BDS SER 2015 27,432 24,046
HAMDEN CONN TAXABLE GO 65,007 57,772
HAMDEN CONN TAXABLE GO 20,186 17,776
HAMILTON OHIO CMTY 255,007 247,001
HAWAII ST TAXABLE GO BDS 32,117 31,611
HAWAIIAN GARDENS CALIF REDEV AGY 175,008 166,140
HAWAIIAN GARDENS CALIF REDEV AGY 268,784 247,926
HAWAIIAN GARDENS CALIF REDEV AGY 58,652 54,093
HILLSBORO ORE ECONOMIC DEV 25,562 25,161
HOMESTEAD FLA TRANSN SYS 18,253 18,883
HOMESTEAD FLA TRANSN SYS 91,225 94,417
HOUSTON TEX ARPT SYS REV 56,230 54,935
HOWARD CNTY MD HSG 80,008 71,502
HOWARD CNTY MD HSG COMMN 20,006 17,875
HOWARD UNIV 2020 BOND 10,003 9,484
IDAHO HSG & FIN ASSN SINGLE FAM 10,002 10,223
IDAHO HSG & FIN ASSN SINGLE FAM 5,001 5,080
IDAHO HSG & FIN ASSN SINGLE FAM 55,013 56,229
IDAHO HSG & FIN ASSN SINGLE FAM 65,012 66,042
IDAHO PWR CO SER 260,017 258,240
IDEX CORP NOTE 184,873 184,197
ILLINOIS FIN AUTH ACADEMIC 15,005 14,684
ILLINOIS ST GO BDS 50,542 50,685
ILLINOIS ST GO BDS SER 2019 15,075 15,213
ILLINOIS ST GO BDS SER 2019 175,966 178,211
ILLINOIS ST GO BDS SER 2019 50,238 50,710
ILLINOIS ST GO BDS SER 2019 58,492 55,658
ILLINOIS ST GO BDS SER 2019 100,507 101,814
ILLINOIS ST GO BDS SER 2019 21,275 20,239
ILLINOIS ST TAXABLE GO BDS 19,019 19,804
ILLINOIS ST TAXABLE PENSION 76,788 69,868
ILLINOIS STATE TAXABLE PENSION 18,257 18,632
INDIANAPOLIS IND LOC PUB IMPT 60,012 61,024
INGLEWOOD CALIF JT PWRS AUTH 200,006 192,560
INGLEWOOD CALIF JT PWRS AUTH 55,008 52,253
INGLEWOOD CALIF JT PWRS AUTH 70,801 71,042
INGLEWOOD CALIF UNI SCH DIST 90,003 85,511
INGLEWOOD CALIF UNI SCH DIST 10,007 8,553
IOWA FIN AUTH SINGLE FAMILY MTG 280,018 274,803
JOPLIN MO INDL DEV AUTH 90,007 83,457
JOPLIN MO INDL DEV AUTH 90,009 80,735
KANKAKEE ILL TAXABLE GO BDS 173,200 167,697
KANKAKEE ILL TAXABLE GO BDS 32,852 32,642
KANSAS ST DEV FIN AUTH REV 24,664 23,944
KANSAS ST DEV FIN AUTH REV 16,335 14,748
KANSAS ST DEV FIN AUTH REV 19,733 19,155
KENDALL KANE & WILL CNTYS ILL CMTY UNIT 100,953 100,789
KENTUCKY ASSN OF CNTYS FIN CORP FING 90,012 76,352
KENTUCKY ECONOMIC DEV 41,287 45,712
KENTUCKY ECONOMIC DEV 45,771 42,790
KERR MCGEE CORP BOND 108,108 102,467
KING CNTY WASH GO BDS SER 68,526 66,980
KLICKITAT CNTY WASH 105,008 99,666
LAKE CNTY ILL CMTY UNIT 45,526 43,871
LAKE CNTY ILL CMTY UNIT 50,232 49,506
LANSING MICH TAX INCREMENT FIN AUTH 130,001 129,319
LAS CRUCES N MEX ST SHARED GROSS RCPTS 50,009 49,112
LAS VIRGENE SCALIF UNI SCH 25,040 25,183
LOS ANGELES CALIF MUN IMPT 20,008 16,625
LOS ANGELES CALIF UNI SCH DIST GO BDS 116,816 113,264
LOUISVILLE & JEFFERSON CNTY 150,839 149,496
LYNN HAVEN FLA REV 49,244 43,314
LYNN HAVEN FLA REV 39,439 37,900
MARIN CALIF CMTY COLLEGE DIST GO BDS 315,010 297,401
MARIN CALIF CMTY COLLEGE DIST GO BDS 245,007 232,488
MASHFIELD CLINIC HEALTH SYSTEM 142,520 140,785
MARYLAND ST HEALTH & HIGHER EDL 34,079 34,188
MARYLAND ST ECONOMIC DEV CORP 72,107 71,546
MASSACHUSETTS ST DEV FIN 55,004 52,435
MASSACHUSETTS ST GO BDS 27,990 25,105
MATTESON ILL GO DEBT 25,622 26,395
MEMPHIS TENN GO IMPT 92,931 92,090
METRO WASTEWTR RECLAMATION 34,551 33,590
MIAMI DADE CNTY FLA AVIATION 15,741 14,057
MIAMI GARDENS FLA CTFS 59,181 53,495
MICHIGAN FIN AUTH REV 40,012 34,089
MICHIGAN ST HSG DEV AUTH 29,620 32,955
MINNESOTA ST HSG FIN AGY 15,007 13,492
MISSISSIPPI ST G O BDS 36,907 34,883
MISSISSIPPI ST G O BDS 163,414 154,482
MONROE CNTY N Y INDL DEV CORP 180,691 180,427
MONTANA FAC FIN AUTH REV 22,446 22,473
MONTEREY CNTY CALIF REGL FIRE DIST 48,762 43,990
MONTEREY CNTY CALIF REGL FIRE DIST 105,006 98,504
MT VERNON IND SCH BLDG CORP 65,000 64,937
NEVADA HSGDIV SINGLE FAMILY 129,280 126,595
NEW HAVEN CONN FEDERALLY TAXABLE GO 40,578 39,486
NEW HAVEN CONN FEDERALLY TAXABLE GO 5,036 4,869
NEW HAVEN CONN FEDERALLY TAXABLE GO 90,639 87,649
NEW HAVEN CONN FEDERALLY TAXABLE GO 80,112 73,803
NEW HAVEN CONN FEDERALLY TAXABLE GO 36,555 36,757
NEW HAVEN CONN FEDERALLY TAXABLE GO 187,659 182,625
NEW HAVEN CONN FEDERALLY TAXABLE GO 15,216 14,807
NEW JERSEY ECONOMIC DEV 163,887 163,990
NEW JERSEY ECONOMIC DEV 112,027 105,768
NEW JERSEY ECONOMIC DEV 116,843 111,056
NEW JERSEY ECONOMIC DEV 25,065 25,148
NEW JERSEY ECONOMIC DEV 132,889 135,491
NEW JERSEY ECONOMIC DEV 26,522 26,076
NEW JERSEY ECONOMIC DEV 14,921 14,769
NEW JERSEY ST EDL FACS AUTH 46,442 48,752
NEW JERSEY ST EDL FACS AUTH 16,887 17,680
NEW JERSEY ST EDL FACS AUTH 145,891 123,760
NEW YORK N Y CITY HSG DEV 20,007 17,379
NEW YORK N Y CITY HSG DEV 20,005 18,808
NEW YORK N Y CITY HSG DEV 55,003 53,286
NEW YORK N Y CITY TRANSITIONAL FIN 50,063 49,507
NEW YORK N Y CITY TRANSITIONAL FIN 83,045 79,669
NEW YORK N Y CITY TRANSITIONAL FIN 125,149 123,766
NEW YORK ST DORM AUTH 11,237 9,644
NEW YORK ST DORM AUTH 40,284 39,636
NEW YORK ST DORM AUTH 66,086 62,593
NEW YORK ST DORM AUTH 35,654 34,704
NEW YORK ST MTG 215,005 210,939
NEW YORK ST MTG 55,005 53,526
NEW YORK ST MTG 83,819 81,524
NEW YORK ST URBAN DEV CORP 69,653 69,814
NORRISTOWN PA TAXABLE GO 80,011 72,966
NORTH CHARLESTON S C PUB 25,002 24,658
NORTH CNTY CALIF FIRE PROTECTION 20,658 22,258
NORTHERN ARIZ UNIV REVS TAXABLE 237,464 204,873
NORTHERN ARIZ UNIV REVS TAXABLE 136,418 117,693
NORTHERN STS PWR CO 55,510 55,599
OCSHNER LSU HEALTH SYS 14,856 15,437
OHIO ST WTR DEV AUTH REV WTR 35,024 35,001
OKANOKAN CNTY WASH PUB 31,622 30,680
OKLAHOMA ST CAPITOL IMPT 20,002 19,920
OKMULGEE CNTY OKLA GOVERNMENTAL BLDG 20,011 16,521
ONONDAGA NY CIVIC DEV CORP 245,013 193,771
ONTARIO CALIF INTL ARPT AUTH REV 249,565 248,720
ONTARIO CALIF PENSION OBLIG 36,586 32,290
ONTARIO CALIF PENSION OBLIG 88,844 78,418
ORANGE CALIF PENSION OBLIG 15,006 13,093
OREGON SCH BRDS ASSN LTD 32,991 33,098
OREGON SCH BRDS ASSN LTD 46,019 45,757
OREGON ST FACS AUTH REV 94,458 98,744
OVID ELSIE MICH AREA SCHS TAZABLE GO ULTD 50,004 48,801
PARTNERS GROUP PRIVATE EQUITY 2,815,037 4,320,790
PENN HILLS PA 95,932 93,316
PENNSYLVANIA ECONOMIC DEV 63,232 68,015
PENNSYLVANIA ECONOMIC DEV 15,007 13,123
PENNSYLVANIA ST TPK COMMN 19,119 15,736
PENNSYLVANIA ST GO BDS 74,786 74,915
PHILLIPS 66 CO NOTE 46,466 45,120
PHILLIPS 66 CO NOTE 24,625 24,929
PHOENIX ARIZ G O GEN 139,951 138,877
PIEDMONT NAT GAS CO INC 45,122 43,619
PINAL & MARICOPA CNTYS ARIZ 230,010 208,313
PITTSTON PA TAXABLE GO BDS 165,020 166,239
PREMIER HEALTH PARTNERS 36,066 38,258
PROVIDENCE R I REDEV AGY SPL 10,007 9,143
PROVIDENCE ST JOSEPH 24,647 25,236
READING PA TAXABLE GO BDS 205,010 178,387
REGIONAL TRANSN AUTH ILL 98,960 103,484
RHODE ISLAND ST COMM CORP REV FEDERALLY 30,005 28,982
RICHMOND CALIF PENSION FDG 109,168 109,325
RTX CORPORATION SER 124,323 123,112
RUSH SYS FOR HEALTH SER 2020 37,296 38,343
SACRAMENTO CALIF PENSION 35,703 35,536
SALES TAX SECURIZATION CORP 70,910 71,183
SAN DIEGO CALIF REDEV 55,666 54,382
SAN JOSE CALIF REDEV AGY 41,965 44,414
SAN LUIS UNIT/WESTLANDS WTR 61,317 52,016
SAN LUIS UNIT/WESTLANDS WTR 132,351 140,808
SANTA CLARA VY CALIF WTR DIST WTR SYS REV 55,007 50,252
SANTA CLARA VY CALIF WTR DIST WTR SYS REV 60,007 54,820
SANTA CLARA CNTY CALIF ELECTION 60,671 58,869
SANTA PAULA CALIF UTIL AUTH WASTEWTR 45,008 38,549
SAPULPA OKLA MUN AUTH UTIL 70,003 67,350
SCHENECTADY NY METROPLEX DEV 105,010 92,941
SCRANTON PA SCH DIST 104,377 99,935
SEMITROPIC IMPT DIST 55,006 51,563
SHREVEPORT LA ARPT SYS 31,229 29,716
SOUTH DAKOTA ST HEALTH & EDL 35,009 33,124
SOUTH GATE CALIF ITIL WTR REV 55,008 49,866
SOUTH GATE CALIF UTIL AUTH 50,008 45,333
SOUTH JERSEY TRANSN AUTH N J TRANSN SYS 14,936 14,410
SOUTH JERSEY TRANSN AUTH N J TRANSN SYS 35,376 33,771
ST CLAIR CNTY ILL CMNTY 65,019 65,389
ST CLAIR CNTY ILL CMNTY 100,856 101,642
ST JOHNS CNTY FLA INDL DEV 88,968 94,739
STATE PUB SCH BLDG 130,009 118,157
STEPHEN F AUSTIN ST UNIV TEX 185,008 179,617
STOCKTON CALIF PUB 69,134 69,404
STOCKTON CALIF PUB 100,010 88,515
SULPHUR SPRINGS CALIF UN 19,978 16,875
SUTTER HEALTH SER 2020A 64,887 64,512
SUTTER HEALTH SER 2020A 270,230 264,041
SYLACAUGA ALA GO WTS SER 14,257 14,749
TACOMA WASH ELEC SYS REV 101,121 101,378
TACOMA WASH WTR REV 25,188 25,176
TEXAS ST DEPT HSG & CMNTY 105,017 108,280
TMC3 DEV CORP 14,001 12,824
TOLEDO HOSPITAL SER 2018B 25,192 24,575
TULARE CNTY CALIF PENSION OBLIG 50,713 50,942
TULARE CNTY CALIF PENSION OBLIG 26,630 23,696
UNIVERSIRT CALIF REVS GEN REV BDS 100,092 97,700
UNIVERSITY SOUTH ALA UNIV 270,009 259,273
UNIVERSITY SOUTH ALA UNIV 45,001 44,831
UNIVERSITY TEX UNIV REVS FING 136,533 132,365
UTAH HSG CORP SINGLE FAMILY 45,015 46,572
UTAH ST BRD HIGHER ED REV 49,646 46,859
VERMONT MUN BD BK MUNICIPAL 45,253 47,081
VINELAND N J ELEC UTIL 105,007 100,340
VIRGINIA ST HSG DEV AUTH 70,009 57,789
WASHINGTON ST HSG FIN 40,015 41,390
WASHINGTON ST HSG FIN COMM TAXABLE 130,018 132,720
WASHINGTON ST TAXABLE GO 23,242 23,679
WEST MIFFLIN PA GO TAXABLE BDS SER 10,009 8,757
WESTERN PLACER CALIF UNI SCH 9,981 9,384
WESTERN PLACER CALIF UNI SCH 14,919 14,272
WHITTIER CALIF REDEV 25,422 24,735
WILLIAMSON JACKSON ETC 50,832 50,851
WISCONSIN ST GEN FD ANNUAL 90,017 88,659
WORCESTER MASS G.O. BDS 10,548 10,250
YSLETA TEX INDPT SCH DIS 109,777 101,964
ACCRUED INTEREST BOND INVESTMENTS 0 304,907

TY 2024 InvestmentsCorpStockSchedule
Name:
THE CIELO FOUNDATION
EIN:
26-1166378
Name of Stock End of Year Book Value End of Year Fair Market Value
ABB LTD 62,927 187,179
ABBOTT LABORATORIES 141,119 134,488
ACCENTURE PLC 116,976 153,380
ADOBE INC 112,055 96,496
AECOM 91,246 109,170
AENA SME SA UNSPOSORED ADR 88,192 106,989
AIA GROUP ADR 128,446 113,666
ALLIANZ SE UNSPON 118,408 155,601
ALPHABET INC CAP STK CL A 353,560 480,633
ALPHABET INC CAP STK CL C 74,748 135,403
AMADEUS IT GROUP 117,621 120,059
AMAZON.COM INC 269,734 602,884
AMERICAN EXPRESS CO 51,686 120,794
AMERICAN INTERNATIONAL GROUP 94,881 99,882
AMERICAN TOWER CORP 104,151 78,316
ANZ GROUP HOLDINGS 192,156 164,976
APPLE INC 706,991 1,025,219
APPLIED MATERIALS INC COM 97,400 107,336
ARISTA NETWORKS INC 70,337 96,382
ASAHI KASEI CORP 99,853 99,817
ASE TECHNOLOGY 87,431 88,475
ASML HOLDING 93,823 113,665
ATLAS COPCO AB SP ADR 89,548 85,833
AT&T INC 125,968 138,146
AUTODESK INC 90,848 106,405
AUTOMATIC DATA PROCESSING INC 104,698 139,925
BANCOLOMBIA ADR 128,482 123,992
BECTON DICKINSON & CO 100,297 92,336
BLUEROCK TOTAL INC 328,367 237,701
BOOKING HOLDINGS 55,188 154,021
BOSTON SCIENTIFIC CORP 77,139 134,784
BRAMBLES LTD SPON ADR 92,522 143,556
BROADCOM INC 36,403 336,632
BROADRIDGE FINANCIAL SOLUTION INC 83,596 95,184
BROWN-FORMAN CORP 117,223 73,947
CERRITOS CALIF CMNTY COLLEGE DIST 40,693 32,870
CHIPOTLE MEXICAN GRILL 83,252 101,063
CHUBB LIMITED COM 102,101 103,889
CINTAS CORP 82,988 98,658
CME GROUP INC 100,804 114,722
COGNIZANT TECHNOLOGY SOLUTIONS 103,287 102,892
COMPANIA CERVECERIAS UNIDAS 82,346 70,337
CONAGRA BRANDS INC 96,037 93,018
CONSTELLATION BRANDS INC 99,954 95,030
COPART INC COM 77,075 100,088
DBS GROUP HLDGS LTD 112,522 133,290
DEERE & CO 91,944 111,857
DIAGEO ADR 130,206 102,848
DNB BANK ASA SPON ADR 158,872 159,996
DOVER CORP 129,797 143,139
ELI LILLY AND CO COM 31,123 203,808
EQUINIX INC 90,633 105,604
EQUITABLE HLDGS INC 85,850 94,246
ESSILOR LUXOTTICA 92,966 99,070
FISERV INC COM 96,052 158,790
FOX CORP CL B 91,732 119,107
GARTNER INC 83,769 86,236
GERDAY SA SPON ADR 138,800 114,163
GOLDMAN SACHS GROUP INC 107,247 150,599
HDFC BANK LTD 98,688 99,175
HOME DEPOT INC 110,538 190,994
HONDA MOTOR CO ADR 182,801 154,284
HORMEL FOODS CORP 84,585 83,005
HSBC HLDGS PLC SPON 100,755 125,678
HUBBELL INC 87,272 100,115
ICICI BANK LIMITED SPON 106,832 138,341
INDITEX 94,668 114,999
INDUSTRIAL & COMMERCIAL BK 107,782 153,570
INFOSYS LTD SPON 80,783 87,285
INTEL CORP COM 76,416 52,852
INTESA SANPAOLO SPA SPON ADR 72,389 113,916
INTUITUVE SURGICAL INC 78,974 107,524
IRON MTN INC 81,798 86,611
IQVIA HLDGS INC 95,509 95,307
KEURIG DR PEPPER INC 86,722 89,294
KT ADR REP 89,701 98,490
LAM RESEARCH CORP 106,955 90,288
LAMB WESTON HLDGS INC 75,607 90,488
LONDON STOCK EXCHANGE GROUP 77,893 89,974
MASTERCARD INC CL A 96,651 182,193
MEITUAN UNSPON ADS 67,482 156,171
MERCK AND CO INC NEW COM 155,976 140,167
META PLATFORMS INC CLASS A 133,757 362,431
MICHELIN UNSP ADS 108,454 90,669
MICRON TECHNOLOGY INC 62,694 60,595
MOODYS CORP COM 77,412 91,834
MORGAN STANLEY COM 120,179 148,350
MS AND AD INSURANCE GROUP HDLGS 91,288 145,663
NEBIUS GROUP N V COM 147,920 69,832
NETFLIX INC 80,654 168,459
NINTENDO CO LTD 82,828 89,784
NIO INC SPON 103,789 63,939
NOMURA HOLDINGS ADR 82,090 86,335
NORDSON CORP 110,267 91,019
NORTHERN TRUST CORP 86,723 100,040
NOVARTIS AG 115,861 123,097
NOVO NORDISK 87,432 114,579
NVIDIA CORPORATION 144,616 925,124
OMNICOM GROUP 90,336 80,964
ORACLE CORP 78,123 146,310
OTIS WORDWIDE CORP 111,976 113,262
PACCAR INC 105,412 105,476
PAYCHEX INC 87,062 96,471
PLDT INC ADR 56,479 45,319
PNC FINANCIAL SERVICES 105,386 122,653
PROLOGIS INC 141,008 105,594
PTC INC 122,080 127,054
QUALCOMMINC 111,956 107,380
RECKITT BENCKISER GROUP 155,965 142,966
RELIANCE INC 118,119 111,743
RELX PLC SPON 88,152 84,981
ROCHE HOLDIINGS ADR 109,790 115,488
ROCKWELL AUTOMATION INC 84,705 90,595
RPM INTERNATIONAL 91,022 122,322
S&P GLOBAL INC 126,611 139,448
SALESFORCE COM INC 165,306 214,974
SCHWAB CHARLES CORP 67,406 76,304
SECOM CO 142,821 117,722
SERVICENOW INC COM 104,303 192,942
SHINHAN FINANCIAL GROUP 41,843 52,575
SIMON PROPERTY GROUP 84,882 106,426
SMC SPN ADR 94,635 77,404
SONIC HEALTHCARE SPON 106,641 78,930
STEEL DYNAMICS INC 105,446 92,853
STRYKER CORPORATION 82,636 88,572
SUMITOMO MITSUI 64,373 89,679
SYNOPSYS INC 97,146 85,909
SYSCO CORP 135,355 129,523
TAIWAN SEMICONDUCTOR 66,187 263,452
TAKEDA PHARMACEUTICAL 135,454 129,090
TELENOR ASA 164,914 109,016
TENCENT HOLDINGS LIMITED 294,494 210,486
THE CIGNA GROUP COM 70,111 59,922
THERMO FISHER SCIENTIFIC 123,742 134,219
TJX COMPANIES 64,028 114,528
TMOBILE US INC 97,389 131,334
TOKIO MARINE HLDGS 50,688 86,772
TRANE TECHNOLOGIES PLC 83,767 93,076
TRANSMISSIONE ELETTRICITA RETE 129,108 129,494
U HAUL HOLDING COMPANY 81,484 83,265
UBER TECHNOLOGIES INC 69,569 90,239
UNITED OVERSEAS BK LTD 90,101 127,909
UNITED UTILITIES GROUP 120,665 122,131
UNITEDHEALTH GROUP 72,106 147,205
VERIZON COMMUNICATIONS 138,339 120,690
VERSUS CAPITAL REAL ESTATE 713,448 706,735
VERSUS CAPITAL REAL ASSETS 14,853 15,932
VINCI ADR 148,749 133,933
VISA INC COM 135,057 230,709
VULCAN MATERIALS 96,919 107,522
WABTEC COM 105,343 148,828
WIPRO LTD SPON ADR 107,021 111,694
XYLEM INC COM 102,569 92,352
ZURICH INSURANCE GROUP 121,760 141,443
OTHER MISC UNSCHEDULED INVESTMENTS 295 0

TY 2024 InvestmentsGovtObligationsSch
Name:
THE CIELO FOUNDATION
EIN:
26-1166378
US Government Securities - End of Year Book Value:

4,992,902
US Government Securities - End of Year Fair Market Value:

8,713,599
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2024 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 3,472,525 0
EDGE PRINCIPAL INVESTMENTS III AT COST 1,891,969 2,725,605
EDGE PRINCIPAL INVESTMENTS IV AT COST 2,766,098 4,477,790
EVOLUTION III LLP AT COST 81,990 0
GMB MEZZANINE AT COST 129,363 15,787
HGI BSW FUND II AT COST 98,937 43,434
HGI BSW FUND III AT COST 173,234 25,917
HGI KG05 HOLDINGS AT COST 630,481 589,907
HGI OPPORTUNITY SELECT FUND IV AT COST 250,242 65,289
LS POWER FUND III FEEDER I AT COST 4,414,861 19,170,726
MEADOWLARK LANDS I LP AT COST 302,051 354,667
MIMG BSW FUND III AT COST 101,974 879,182
MIMG XLV TOWN AND COUNTRY AT COST 2,023 0
MIMG XXVII HS MASTER AT COST 20,065 145,372
NEW SUMMIT IMPACT FUND AT COST 2,011,836 2,255,230
RENEWALS AT COST 662,592 718,709
WDE PARTNERS LP AT COST 456,602 26,222
MIMG BSW FUND II AT COST 0 1,811,662
MIMG XXXII EDEN PARK AT COST 0 118,461
MIMG XLI COUNTRY ESTATES AT COST 0 98,730
MIMG XXXVII CE MASTER AT COST 0 304,794

TY 2024 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 50,000 50,000 50,000
CALVERT IMPACT CAPITAL LOAN 750,000 0 0
SOUTHERN PLAINS LAND TRUST LOAN 250,000 0 0
FOREST RESILIENCE BOND 500,000 500,000 500,000
PREPAID WAGES 760 0 0


TY 2024 OtherDecreasesSchedule
Name:
THE CIELO FOUNDATION
EIN:
26-1166378
Description Amount
BOOK/TAX DIFFERENCE FOR UNREALIZED GAIN/LOSS 852,725


TY 2024 OtherExpensesSchedule
Name:
THE CIELO FOUNDATION
EIN:
26-1166378
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BANK FEES 89 89   0
FLOW THROUGH N/D EXPENSES 3,205 0   0
K-1 DEDUCTIONS 274,384 274,384   0
CONTRACTOR LABOR 16,016 0   0
LICENSES 10 0   0
WEBSITE 237 0   0
SUPPLIES 355 0   0


TY 2024 OtherIncomeSchedule2
Name:
THE CIELO FOUNDATION
EIN:
26-1166378
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
FIDELITY BROKERAGE 5554 102 102 102
FIDELITY BROKERAGE 7561 12,111 12,111 12,111
EDGE PRINCIPAL INVESTMENTS II, LLC PASSTHROUGH RENTAL INCOME -2,304 -2,304 -2,304
EDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH INCOME -43,507 -43,507 -43,507
EDGE PRINCIPAL INVESTMENTS III, LLC PASSTHROUGH RENTAL INCOME -438,098 -438,098 -438,098
EDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH INCOME -505 -505 -505
EDGE PRINCIPAL INVESTMENTS IV, LLC PASSTHROUGH RENTAL INCOME -12,786 -12,786 -12,786
HGI BSW FUND II PASSTHROUGH RENTAL INCOME 1,357 1,357 1,357
HGI BSW FUND III PASSTHROUGH RENTAL INCOME 1,136 1,136 1,136
HGI OPPORTUNITY SELECT FUND IV PASSTHROUGH RENTAL INCOME -943 -943 -943
LS POWER FUND III FEEDER 1 PASSTHROUGH INCOME 652,766 652,766 652,766
LS POWER FUND III FEEDER 1 PASSTHROUGH RENTAL INCOME -2,007 -2,007 -2,007
MIMG BSW FUND II PASSTHROUGH RENTAL INCOME 92,492 92,492 92,492
MIMG BSW FUND III PASSTHROUGH RENTAL INCOME 40,104 40,104 40,104
MIMG XL HARBOR POINTE PASSTRHOUGH RENTAL INCOME 768 768 768
MIMG XLI COUNTRY ESTATES PASSTHROUGH RENTAL INCOME 4,676 4,676 4,676
MIMG XLV TOWN AND COUNTRY PASSTHROUGH RENTAL INCOME -16,669 -16,669 -16,669
MIMG XXVIII HS MASTER PASSTHROUGH RENTAL INCOME 9,478 9,478 9,478
MIMG XXXII EDEN PARK PASSTHROUGH RENTAL INCOME 2,329 2,329 2,329
MIMG XXXVII CE MASTER PASSTHROUGH RENTAL INCOME 23,349 23,349 23,349
NEW SUMMIT IMPACT FUND II-B PASSTHROUGH INCOME -423 -423 -423
NEW SUMMIT IMPACT FUND II-B PASSTHROUGH OTHER INCOME 15,602 15,602 15,602
WDE PARTNERS PASSTHROUGH INCOME -1,357 -1,357 -1,357
HGI BSW FUND III PASSTHROUGH OTHER INCOME -1,779 -1,779 -1,779
GMB MEZZANINE CAPITAL II PASSTHROUGH OTHER INCOME 538 538 538
HGI OPPORTUNITY SELECT FUND IV PASSTHROUGH OTHER INCOME 76 76 76
HGI OPPORTUNITY SELECT FUND IV PASSTHROUGH INCOME -9 -9 -9
RENEWAL3 US LIMITED PARTNERSHIP OTHER INCOME 12,848 12,848 12,848
EVOLUTION III LP OTHER INCOME -3 -3 -3


TY 2024 OtherLiabilitiesSchedule
Name:
THE CIELO FOUNDATION
EIN:
26-1166378
Description Beginning of Year - Book Value End of Year - Book Value
PAYROLL LIABILITIES 3,110 1,827
MIMG XXXII EDEN PARK 58,295 65,816
MIMG XLI COUNTRY ESTATES 23,641 28,257
MIMG XXXVII CE MASTER 54,512 56,072
MIMG XL HARBOR POINTE 2,861 5,124
LOAN PAYABLE - SUNLIGHT 5,000 5,000
MIMG BSW FUND II 24,243 45,599
OTHER MISC UNSCHEDULED INVESTMENTS 13 0


TY 2024 OtherProfessionalFeesSchedule
Name:
THE CIELO FOUNDATION
EIN:
26-1166378
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT FEES 342,108 342,108   0


TY 2024 TaxesSchedule
Name:
THE CIELO FOUNDATION
EIN:
26-1166378
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PAYROLL TAX 10,113 0   10,113
FOREIGN TAXES 35,219 35,219   0