SORENSON IMPACT FOUNDATION: Form 990PF, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- SORENSON IMPACT FOUNDATION (EIN 45-3203840)
- Tax period
- 2019-01-01 to 2019-12-31
- Filed
- 2020-11-16
- IRS object ID
- 202013219349105826
- Schema version
- 2019v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Accounting Fees Schedule
- All Oth Prog Rltd Investments Sch
- Contractor Compensation Expln
- Investments Corp Bonds Schedule
- Investments Corp Stock Schedule
- Investments Govt Obligations Sch
- Investments Other Schedule2
- Legal Fees Schedule
- Other Assets Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-11-16T14:43:00-08:00 | ReturnTs |
| Tax Period End | 2019-12-31 | TaxPeriodEndDt |
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2019-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 453203840 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Sorenson Impact Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SORE | BusinessNameControlTxt |
| Phone | 8014901013 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2755 E Cottonwood Pkwy | AddressLine1Txt |
| City | Salt Lake City | CityNm |
| State Abbreviation | UT | StateAbbreviationCd |
| ZIP | 84121 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Paul Ludlow | PersonNm |
| Person Title | Secretary | PersonTitleTxt |
| Signature | 2020-11-16 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2021-04-22 16:20:28Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $154,355,196 | FMVAssetsEOYAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Net Invst Incm | $12 | InterestOnSavNetInvstIncmAmt |
| Dividends Rev And Expnss | $2,327,686 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $2,118,663 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $7,138,311 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $32,441,200 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $6,396,363 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | $536,252 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $672,377 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | $10,002,249 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $9,187,415 | TotalNetInvstIncmAmt |
| Oth Empl Slrs Wgs Rev And Expnss | $290,269 | OthEmplSlrsWgsRevAndExpnssAmt |
| Oth Empl Slrs Wgs Dsbrs Chrtbl | $290,269 | OthEmplSlrsWgsDsbrsChrtblAmt |
| Pension Empl Bnft Rev And Expnss | $14,762 | PensionEmplBnftRevAndExpnssAmt |
| Pension Empl Bnft Dsbrs Chrtbl | $14,762 | PensionEmplBnftDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $38,876 | LegalFeesRevAndExpnssAmt |
| Legal Fees Dsbrs Chrtbl | $38,876 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $71,776 | AccountingFeesRevAndExpnssAmt |
| Other Prof Fees Rev And Expnss | $397,923 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $390,905 | OtherProfFeesNetInvstIncmAmt |
| Taxes Rev And Expnss | $128,839 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $3,998 | TaxesNetInvstIncmAmt |
| Trav Conf Meeting Rev And Expnss | $75,701 | TravConfMeetingRevAndExpnssAmt |
| Printing And Pub Rev And Expnss | $191 | PrintingAndPubRevAndExpnssAmt |
| Other Expenses Rev And Expnss | $28,551 | OtherExpensesRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $1,046,888 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $394,903 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $343,907 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $855 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $855 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $1,047,743 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $394,903 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $344,762 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $8,954,506 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $8,792,512 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $13,905 | CashBOYAmt |
| Cash EOY | $318,312 | CashEOYAmt |
| Cash EOYFMV | $318,312 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $8,386,501 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $4,748,870 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $4,748,870 | SavAndTempCashInvstEOYFMVAmt |
| US Government Obligations BOY | $5,910,215 | USGovernmentObligationsBOYAmt |
| US Government Obligations EOY | $7,849,228 | USGovernmentObligationsEOYAmt |
| US Govt Obligations EOYFMV | $7,849,228 | USGovtObligationsEOYFMVAmt |
| Corporate Stock BOY | $48,766,783 | CorporateStockBOYAmt |
| Corporate Stock EOY | $48,177,457 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $48,177,457 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $4,156,520 | CorporateBondsBOYAmt |
| Corporate Bonds EOY | $5,853,843 | CorporateBondsEOYAmt |
| Corporate Bonds EOYFMV | $5,853,843 | CorporateBondsEOYFMVAmt |
| Other Investments BOY | $72,497,780 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $87,407,486 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $87,407,486 | OtherInvestmentsEOYFMVAmt |
| Other Assets EOY | $2,558 | OtherAssetsEOYAmt |
| Total Assets BOY | $139,731,704 | TotalAssetsBOYAmt |
| Total Assets EOY | $154,357,754 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $154,355,196 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $29,569 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $2,904 | AccountsPayableEOYAmt |
| Total Liabilities BOY | $29,569 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,904 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Retained Earning BOY | $139,702,135 | RetainedEarningBOYAmt |
| Retained Earning EOY | $154,354,850 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $139,702,135 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $154,354,850 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $139,731,704 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $154,357,754 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $139,702,135 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $8,954,506 | ExcessRevenueOverExpensesAmt |
| Other Increases | $5,698,209 | OtherIncreasesAmt |
| Subtotal | $154,354,850 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $154,354,850 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (4 entries)
| PropertyPropertyDesc | How AcquiredHowAcquiredCd | Gross Sales PriceGrossSalesPriceAmt | Cost Or Other BasisCostOrOtherBasisAmt | Gain Or LossGainOrLossAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt | AcquiredAcquiredDt | SoldSoldDt |
|---|---|---|---|---|---|---|---|
| Publicly traded securities | P | $32,262,474 | $25,702,814 | $6,559,660 | $6,559,660 | ||
| 468 IAA Inc | P | $21,888 | $22,322 | -$434 | -$434 | 2019-12-20 | 2019-12-24 |
| Unitus Equity Fund | P | $2,558 | $165,855 | -$163,297 | -$163,297 | 2008-01-20 | 2019-12-31 |
| Wash Sale | $434 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $6,396,363 | CapitalGainNetIncomeAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | false | LiableSection4942TaxInd |
| Adjusted Qlfy Distri Yr1 | $3,877,431 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $111,826,156 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.03467 | DistributionYr1Rt |
| Adjusted Qlfy Distri Yr2 | $5,053,778 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $110,818,199 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 0.04560 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $5,363,861 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $103,697,123 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.05173 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $3,130,213 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $101,339,091 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.03089 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $3,231,387 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $100,954,740 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.03201 | DistributionYr5Rt |
| Total Distribution | 0.194901 | TotalDistributionRt |
| Average Distribution | 0.038980 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $119,205,884 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $4,646,645 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $87,925 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $4,734,570 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $2,172,040 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $175,850 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $175,850 | SubtotalAmt |
| Tax Based On Investment Income | $175,850 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $203,981 | EstimatedPlusOvpmtIncmTxAmt |
| Total Payments And Credits | $203,981 | TotalPaymentsAndCreditsAmt |
| Overpayment | $28,131 | OverpaymentAmt |
| Applied To ES Tax | $28,131 | AppliedToESTaxAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | UT | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | sorensonimpactfoundation.org | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jim Sorenson | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8014901013 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2755 E Cottonwood Pkwy 500 | AddressLine1Txt |
| City | Salt Lake City | CityNm |
| State Abbreviation | UT | StateAbbreviationCd |
| ZIP | 84121 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | Yes (true) | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (true) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | Yes (true) | BusinessHoldingsInd |
| Excess Business Holdings | false | ExcessBusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Transactions Fail To Qlfy As Exc | false | TransactionsFailToQlfyAsExcInd |
| Maintained Expenditure Rspns | Yes (true) | MaintainedExpenditureRspnsInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt |
|---|---|---|---|---|---|---|
| James Lee Sorenson | ||||||
| 2755 E Cottonwood Pkwy 500 | Salt Lake City | UT | 84121 | Director | 10.00 | $0 |
| Krista Sorenson | ||||||
| 2755 E Cottonwood Pkwy 500 | Salt Lake City | UT | 84121 | Director | 5.00 | $0 |
| Luke Sorenson | ||||||
| 3400 N Ashton Boulevard | Lehi | UT | 84043 | Director | 1.00 | $0 |
Compensation Highest Paid Empl CompensationHighestPaidEmplGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee BenefitsEmployeeBenefitsAmt |
|---|---|---|---|---|---|---|---|
| Lindsay Zizumbo | |||||||
| 840 E 17th Ave | Salt Lake City | UT | 84103 | Chief of Staff | 40.00 | $105,787 | $6,512 |
| Meredith Shields | |||||||
| 3816 Windom Place NW | Washington | DC | 20016 | Program Manager | 40.00 | $132,244 | $8,250 |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Sorenson Associates The Pointe LLC | |||||
| 2755 E Cottonwood Pkwy 500 | Salt Lake City | UT | 84121 | Accounting & tax | $67,278 |
| Sepio Capital | |||||
| 50 California Street Suite 3525 | San Francisco | CA | 94111 | Investment advice | $390,905 |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | University Venture Fund II: Promoting community development in low and moderate income neighborhoods as well as positive charitable, educational, scientific, and/or environmental impact | Description1Txt |
| Expenses1 | $548,000 | Expenses1Amt |
| Description2 | Sanivation: Developing technologies to managing sludge for the purposes of increasing health and safety to Kenyans living in poor and underprivileged areas. | Description2Txt |
| Expenses2 | $250,000 | Expenses2Amt |
| All Other Program Rltd Invst Tot | $1,029,278 | AllOtherProgramRltdInvstTotAmt |
| Total | $1,827,278 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $67,927,573 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $5,328,668 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $47,764,961 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $121,021,202 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Adjusted Total FMV Of Unused Ast | $121,021,202 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $1,815,318 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $119,205,884 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $5,960,294 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $5,960,294 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $175,850 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $175,850 | TotalTaxAmt |
| Distributable Before Adj | $5,784,444 | DistributableBeforeAdjAmt |
| Recoveries Qualfied Distri | $269,468 | RecoveriesQualfiedDistriAmt |
| Distributable Before Ded | $6,053,912 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $6,053,912 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $344,762 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $1,827,278 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $2,172,040 | QualifyingDistributionsAmt |
| Adjusted Qualifying Distri | $2,172,040 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $6,053,912 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $1,921,439 | UndistributedIncomePYAmt |
| Qualifying Distributions | $2,172,040 | QualifyingDistributionsAmt |
| Applied To Year1 | $1,921,439 | AppliedToYear1Amt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $250,601 | AppliedToCurrentYearAmt |
| Undistributed Income CY | $5,803,311 | UndistributedIncomeCYAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Person | Bhagwandas Retail Private LTD | RecipientPersonNm |
Recipient Foreign Address RecipientForeignAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | House of Lal10 C15 Block C | AddressLine1Txt |
| City | Noida | CityNm |
| Province Or State | Sector 65 | ProvinceOrStateNm |
| Country | IN | CountryCd |
| Foreign Postal | 201301 | ForeignPostalCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Or Contribution Purpose | Financial assistance for placement agency | GrantOrContributionPurposeTxt |
| Amt | $855 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $855 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $2,327,686 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business | 531390 | BusinessCd |
| Exclusion | 18 | ExclusionCd |
| Exclusion | $7,138,311 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Passthrough Investments | Desc |
| Exclusion | 14 | ExclusionCd |
| Exclusion | $536,252 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $10,002,249 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $10,002,249 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | Yes (true) | RelationshipsNonchrtblEOInd |
Relationship Schedule Detail RelationshipScheduleDetail
Organization Business Name OrganizationBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Friends of Art Works | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Type | 501(c)(4) | OrganizationTypeDesc |
| Relationship Description | Sorenson Impact Foundation shares a common director with Friends of Art Works for Kids | RelationshipDescriptionTxt |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Accounting & Tax | CategoryTxt |
| Amt | $71,776 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
All Oth Prog Rltd Investments Sch AllOthProgRltdInvestmentsSch
All Other Program Related Invst AllOtherProgramRelatedInvstGrp (11 entries)
| DescDesc | AmtAmt |
|---|---|
| Owl Ventures: Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities. | $35,000 |
| Elevar Equity: Developing essential products and services for disconnected communities in Latin America and Asia. | $34,500 |
| VilCap Investments: Investing in companies that enable positive social and/or environmental impact such as: clean energy, increasing access to education and healthcare, and improving livelihoods of underprivilged populations. | $18,189 |
| Massachusetts Pathways: Increasing access to vocational english classes and skills training to uderprivileged populations | $76,549 |
| Eleos Social Venture Fund: Improving sanitation, healthcare, education, energy, water and rural livlihoods in east Africa | $81,250 |
| Capria: Creation of early-stage impact investment funds in emerging markets with the ability to improve the lives of low-income individuals | $175,000 |
| Unitus Seed Fund: Promoting economic self-reliance, education, and access to life necessities | $25,000 |
| Omnivore Partners: Alleviating poverty, supporting higher wages, and improving livelihoods in developing economies | $40,665 |
| Salt Lake County Pay for Success: Low interest loan to Salt Lake County for projects attempting to resolve homelessness and recitivism. | $43,125 |
| Sevamob: Delivering healthcare services and related technology to underserved populations for improving access to safe and high quality healthcare | $250,000 |
| ThinkMD: Developing technology to improve the health of poor and underpriviliged communities by empowering local healthcare providers to make more accurate diagnoses. | $250,000 |
Contractor Compensation Expln ContractorCompensationExpln
Contractor Comp Expln ContractorCompExplnGrp (2 entries)
| ExplanationExplanationTxt |
|---|
| Sepio Capital |
| Sepio Capital provides investment management services and advice. Compensation is determined at arms length and is reasonable based on fair value of the services received. |
| Sorenson Associates The Pointe LLC |
| Sorenson Associates provides accounting and tax related services for the foundation. Compensation is reasonable based on fair value of the services provided. |
Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule
Investments Corporate Bonds InvestmentsCorporateBondsGrp (36 entries)
| BondBondNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| Goldman Sachs Group Note | $137,436 | $137,436 |
| AT&T Inc May 2018 | $126,419 | $126,419 |
| Apple Inc Note | $311,620 | $311,620 |
| Morgan Stanley Note | $120,958 | $120,958 |
| American Express Note | $137,995 | $137,995 |
| Bank America Corp Apr 2024 | $189,189 | $189,189 |
| CVS Health Corp Mar 2025 | $135,574 | $135,574 |
| Citigroup Inc Note | $205,606 | $205,606 |
| Comcast Corp Mar 2026 | $195,897 | $195,897 |
| General Mls Inc Dec 2021 | $117,740 | $117,740 |
| Home Depot Inc Note | $195,027 | $195,027 |
| International Fin Corp Bond | $259,014 | $259,014 |
| JP Morgan Chase Note | $196,267 | $196,267 |
| Lowes Cos Inc Note | $181,840 | $181,840 |
| Marsh & Mclennan Cos Inc Note | $87,343 | $87,343 |
| Medtronic Inc Note | $43,587 | $43,587 |
| Oracle Corp Note | $137,204 | $137,204 |
| Sanofi Note | $171,152 | $171,152 |
| Shell international Fin BV Note | $207,576 | $207,576 |
| Statoil ASA Jan 2023 | $143,766 | $143,766 |
| Toronto Dominion Bank Note | $186,281 | $186,281 |
| Total Capital SA Note | $137,111 | $137,111 |
| UnitedHealth Group Note | $210,739 | $210,739 |
| Verizon Communications Note | $118,343 | $118,343 |
| Abbvie Inc Note | $138,382 | $138,382 |
| Anthem Inc Note | $143,374 | $143,374 |
| Bank New York Mellon Note | $207,893 | $207,893 |
| John Deere Note | $208,223 | $208,223 |
| Enbridge Inc Note | $67,089 | $67,089 |
| Merck & Co Note | $207,890 | $207,890 |
| Microsoft Corp Note | $281,830 | $281,830 |
| Nexterra Energy Cap Bond | $138,761 | $138,761 |
| PNC Fincial Services Note | $138,913 | $138,913 |
| Schlumberger Invt SA Note | $137,963 | $137,963 |
| United Parcel Service Inc Note | $162,650 | $162,650 |
| Waste Management Inc Note | $67,191 | $67,191 |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Stock | Publicly traded securities (see stmt) | StockNm |
| EOY Book Value | $48,177,457 | EOYBookValueAmt |
| EOYFMV | $48,177,457 | EOYFMVAmt |
Investments Govt Obligations Sch InvestmentsGovtObligationsSch
| Field | Value | IRS element (for citing) |
|---|---|---|
| US Govt Obligations Book Vl EOY | $5,435,459 | USGovtObligationsBookVlEOYAmt |
| US Govt Obligations EOYFMV | $5,435,459 | USGovtObligationsEOYFMVAmt |
| State Local Sec Book Vl EOY | $2,413,769 | StateLocalSecBookVlEOYAmt |
| State Local Sec EOYFMV | $2,413,769 | StateLocalSecEOYFMVAmt |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (11 entries)
| Category Or ItemCategoryOrItemTxt | Listed At Cost Or FMVListedAtCostOrFMVCd | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| Program-related investments | AT COST | $13,761,190 | $13,761,190 |
| Accrued interest - PRI | AT COST | $531,677 | $531,677 |
| Blackstone Strategic Partners | FMV | $160,024 | $160,024 |
| CSP III Distressted Opportunities | FMV | $166,048 | $166,048 |
| Czech II Senior Loan Trust | FMV | $23,020 | $23,020 |
| GSO Mezzanine Finance Fund | FMV | $205,005 | $205,005 |
| SLP IV Technology Fund | FMV | $616,440 | $616,440 |
| Privately-held securities | FMV | $71,013,007 | $71,013,007 |
| LS Real Estate Recoverty IV Trust | FMV | $86,182 | $86,182 |
| Czech III Senior Loan Trust | FMV | $574,168 | $574,168 |
| Turner-Agassi Educational Facilities | FMV | $270,725 | $270,725 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Legal | CategoryTxt |
| Legal Fees | $38,876 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $38,876 | DisbursementsCharitablePrpsAmt |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LP Distribution Receivable | Desc |
| EOY Book Value | $2,558 | EOYBookValueAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (9 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt |
|---|---|
| Bank charges | $239 |
| Dues & subscriptions | $18,178 |
| Insurance | $481 |
| IT services | $3,372 |
| Licenses & fees | $1,368 |
| Postage | $365 |
| Storage | $1,641 |
| Supplies | $851 |
| Telephone | $2,056 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Passthrough Investments | Desc |
| Revenue And Expenses Per Books | $536,252 | RevenueAndExpensesPerBooksAmt |
| Net Investment Income | $672,377 | NetInvestmentIncomeAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (3 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| HR services | $7,000 | $0 | $0 | $0 |
| Investment management | $390,905 | $390,905 | $0 | $0 |
| Public relations | $18 | $0 | $0 | $0 |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (4 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|
| Federal income taxes | $103,000 | |
| Foreign taxes | $3,998 | $3,998 |
| Payroll taxes | $21,581 | |
| State taxes | $260 |
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