SORENSON IMPACT FOUNDATION: Form 990PF, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- SORENSON IMPACT FOUNDATION (EIN 45-3203840)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-11-15
- IRS object ID
- 201923199349104427
- Schema version
- 2018v3.1
- 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 Expenses Schedule
- Other Income Schedule2
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-11-15T14:55:17-08:00 | ReturnTs |
| Tax Period End | 2018-12-31 | TaxPeriodEndDt |
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2018-01-01 | 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 500 | 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 | 2019-11-15 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2020-04-17 16:48:07Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $139,731,704 | 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 |
| Dividends Rev And Expnss | $2,414,153 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $2,107,584 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $10,604,581 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $62,094,092 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $9,433,286 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | $191,225 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $574,572 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | $13,209,959 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $12,115,442 | TotalNetInvstIncmAmt |
| Oth Empl Slrs Wgs Rev And Expnss | $267,687 | OthEmplSlrsWgsRevAndExpnssAmt |
| Oth Empl Slrs Wgs Dsbrs Chrtbl | $267,687 | OthEmplSlrsWgsDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $31,622 | LegalFeesRevAndExpnssAmt |
| Legal Fees Dsbrs Chrtbl | $31,622 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $90,125 | AccountingFeesRevAndExpnssAmt |
| Other Prof Fees Rev And Expnss | $427,606 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $405,033 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $15,000 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $212,640 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $8,099 | TaxesNetInvstIncmAmt |
| Trav Conf Meeting Rev And Expnss | $77,966 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Dsbrs Chrtbl | $77,966 | TravConfMeetingDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $32,882 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Dsbrs Chrtbl | $3,000 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $1,140,528 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $413,132 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $395,275 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $640,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $640,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $1,780,528 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $413,132 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $1,035,275 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $11,429,431 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $11,702,310 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $10,149 | CashBOYAmt |
| Cash EOY | $13,905 | CashEOYAmt |
| Cash EOYFMV | $13,905 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $5,505,914 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $8,386,501 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $8,386,501 | SavAndTempCashInvstEOYFMVAmt |
| US Government Obligations BOY | $950,039 | USGovernmentObligationsBOYAmt |
| US Government Obligations EOY | $5,910,215 | USGovernmentObligationsEOYAmt |
| US Govt Obligations EOYFMV | $5,910,215 | USGovtObligationsEOYFMVAmt |
| Corporate Stock BOY | $73,233,482 | CorporateStockBOYAmt |
| Corporate Stock EOY | $48,766,783 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $48,766,783 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $5,924,008 | CorporateBondsBOYAmt |
| Corporate Bonds EOY | $4,156,520 | CorporateBondsEOYAmt |
| Corporate Bonds EOYFMV | $4,156,520 | CorporateBondsEOYFMVAmt |
| Other Investments BOY | $59,059,426 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $72,497,780 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $72,497,780 | OtherInvestmentsEOYFMVAmt |
| Other Assets BOY | $12,074 | OtherAssetsBOYAmt |
| Total Assets BOY | $144,695,092 | TotalAssetsBOYAmt |
| Total Assets EOY | $139,731,704 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $139,731,704 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $3,100 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $29,569 | AccountsPayableEOYAmt |
| Total Liabilities BOY | $3,100 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $29,569 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
| Retained Earning BOY | $144,691,992 | RetainedEarningBOYAmt |
| Retained Earning EOY | $139,702,135 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $144,691,992 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $139,702,135 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $144,695,092 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $139,731,704 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $144,691,992 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $11,429,431 | ExcessRevenueOverExpensesAmt |
| Subtotal | $156,121,423 | SubtotalAmt |
| Other Decreases | $16,419,288 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $139,702,135 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (6 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 | $58,369,520 | $48,171,959 | $10,197,561 | $10,197,561 | ||
| LLC member interest | P | $25,884 | $1,376,282 | -$1,350,398 | -$1,350,398 | 2012-06-30 | 2018-01-09 |
| UIP Ruma LLC interest | P | $4,373 | $4,373 | $4,373 | 2012-04-10 | 2018-06-14 | |
| OZFII LTD interest | P | $2,195,829 | $1,525,000 | $670,829 | $670,829 | 2012-05-01 | 2018-01-22 |
| Carlson LTD interest | P | $1,498,486 | $1,350,000 | $148,486 | $148,486 | 2018-05-12 | 2018-01-29 |
| Note receivable | P | $237,565 | -$237,565 | -$237,565 | 2015-08-21 | 2018-02-28 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $9,433,286 | CapitalGainNetIncomeAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | false | LiableSection4942TaxInd |
| Adjusted Qlfy Distri Yr1 | $5,053,778 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $110,818,199 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.04560 | DistributionYr1Rt |
| Adjusted Qlfy Distri Yr2 | $5,363,861 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $103,697,123 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 0.05173 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $3,130,213 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $101,339,091 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.03089 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $3,231,387 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $100,954,740 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.03201 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $2,308,372 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $99,995,788 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.02309 | DistributionYr5Rt |
| Total Distribution | 0.183312 | TotalDistributionRt |
| Average Distribution | 0.036662 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $111,826,156 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $4,099,771 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $117,023 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $4,216,794 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $3,877,431 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $234,046 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $234,046 | SubtotalAmt |
| Tax Based On Investment Income | $234,046 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $270,677 | EstimatedPlusOvpmtIncmTxAmt |
| Total Payments And Credits | $270,677 | TotalPaymentsAndCreditsAmt |
| Overpayment | $36,631 | OverpaymentAmt |
| Applied To ES Tax | $36,631 | 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 |
| Form990 T Filed | false | Form990TFiledInd |
| 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 |
| Undistr Incm Sect4942a2 Not App | false | UndistrIncmSect4942a2NotAppInd |
| 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 |
| Proceeds Or Net Income | false | ProceedsOrNetIncomeInd |
| 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 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
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 | $89,321 |
| Sepio Capital | |||||
| 50 California Street Suite 3525 | San Francisco | CA | 94111 | Investment advice | $407,180 |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | Salt Lake County Pay for Success: Low interest loan to Salt Lake County for projects attempting to resolve homelessness and recitivism. | Description1Txt |
| Expenses1 | $1,206,875 | Expenses1Amt |
| Description2 | earAccess: Providing access to affordable hearing aids in emerging markets | Description2Txt |
| Expenses2 | $250,000 | Expenses2Amt |
| All Other Program Rltd Invst Tot | $1,385,281 | AllOtherProgramRltdInvstTotAmt |
| Total | $2,842,156 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $79,864,514 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $6,427,703 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $27,236,875 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $113,529,092 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Adjusted Total FMV Of Unused Ast | $113,529,092 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $1,702,936 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $111,826,156 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $5,591,308 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $5,591,308 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $234,046 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $234,046 | TotalTaxAmt |
| Distributable Before Adj | $5,357,262 | DistributableBeforeAdjAmt |
| Recoveries Qualfied Distri | $269,932 | RecoveriesQualfiedDistriAmt |
| Distributable Before Ded | $5,627,194 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $5,627,194 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $1,035,275 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $2,842,156 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $3,877,431 | QualifyingDistributionsAmt |
| Adjusted Qualifying Distri | $3,877,431 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $5,627,194 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $171,676 | UndistributedIncomePYAmt |
| Qualifying Distributions | $3,877,431 | QualifyingDistributionsAmt |
| Applied To Year1 | $171,676 | AppliedToYear1Amt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $3,705,755 | AppliedToCurrentYearAmt |
| Undistributed Income CY | $1,921,439 | UndistributedIncomeCYAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| University of Utah | ||||||
| 201 Presidents Circle | Salt Lake City | UT | 84112 | GOV | Impact investing program; funding for communications group | $290,000 |
| Village Capital | ||||||
| 2200 Century Parkway 100 | Atlanta | GA | 30345 | PC | Roadmap project - impact investing tools | $250,000 |
| Gallaudet University | ||||||
| 800 Florida Avenue | Washington | DC | 20002 | PC | Entrepreneurship program | $100,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $640,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $2,414,153 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $10,604,581 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Passthrough Investments | Desc |
| Exclusion | 14 | ExclusionCd |
| Exclusion | $191,225 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $13,209,959 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $13,209,959 | 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 | $90,125 | 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 (15 entries)
| DescDesc | AmtAmt |
|---|---|
| Owl Ventures: Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities. | $60,000 |
| Elevar Equity: Developing essential products and services for disconnected communities in Latin America and Asia. | $61,500 |
| Kasha: Providing affordable access to hygiene products for women and young girls in Rwanda and other east African countries | $50,000 |
| ePesos: Accelerating financial inclusion in Latin America through payments technology | $125,000 |
| Rimidi Diabetes: Improving health outcomes of at-risk populations which are overrepresented in chronic diseases, including diabetes. | $13,014 |
| 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. | $79,463 |
| Massachusetts Pathways: Increasing access to vocational english classes and skills training to uderprivileged populations | $72,261 |
| Eleos Social Venture Fund: Improving sanitation, healthcare, education, energy, water and rural livlihoods in east Africa | $11,250 |
| Capria: Creation of early-stage impact investment funds in emerging markets with the ability to improve the lives of low-income individuals | $100,000 |
| Unitus Seed Fund: Promoting economic self-reliance, education, and access to life necessities | $105,000 |
| University Venture Fund II: Promoting community development in low and moderate income neighborhoods as well as positive charitable, educational, scientific, and/or environmental impact | $207,407 |
| Omnivore Partners: Alleviating poverty, supporting higher wages, and improving livelihoods in developing economies | $82,081 |
| SocialAlpha Investments: Solving critical social issues for underserved communities and people | $250,000 |
| Quidnet: Addressing environmental issues with traditional energy generation methods and providing solutions to electricity grid limitations | $43,305 |
| TEAMFund: Funding for med-tech companies that improve diagnosis and treatment of non-communicable diseases | $125,000 |
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 (28 entries)
| BondBondNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| Goldman Sachs Group Jan 2018 | $106,528 | $106,528 |
| AT&T Inc May 2018 | $112,378 | $112,378 |
| Apple Inc GLB Feb 23 | $296,322 | $296,322 |
| Morgan Stanley Jul 2025 | $108,521 | $108,521 |
| Accrued interest | $67,728 | $67,728 |
| American Express Mar 2020 | $183,011 | $183,011 |
| Bank America Corp Apr 2024 | $175,970 | $175,970 |
| CVS Health Corp Mar 2025 | $123,753 | $123,753 |
| Citigroup Inc Apr 2022 | $111,708 | $111,708 |
| Comcast Corp Mar 2026 | $177,010 | $177,010 |
| General Mls Inc Dec 2021 | $114,075 | $114,075 |
| Home Depot Apr 2026 | $179,198 | $179,198 |
| International Fin Corp Jan 2021 | $253,327 | $253,327 |
| JP Morgan Chase Apr 2026 | $176,181 | $176,181 |
| Lowes Cos Inc May 2027 | $159,905 | $159,905 |
| Marsh & Mclennan Cos Inc Jan 2022 | $83,312 | $83,312 |
| Medtronic Inc mar 2022 | $104,710 | $104,710 |
| Oracle Corp May 2022 | $132,102 | $132,102 |
| Royal Bank of Canada Oct 2020 | $177,235 | $177,235 |
| Sanofi Note Mar 2021 | $168,752 | $168,752 |
| Shell international Fin BV May 2025 | $128,185 | $128,185 |
| Statoil ASA Jan 2023 | $136,027 | $136,027 |
| Toronto Dominion Bank Dec 2020 | $183,176 | $183,176 |
| Total Capital SA Jun 2020 | $153,080 | $153,080 |
| UnitedHealth Group Mar 2022 | $133,927 | $133,927 |
| Verizon Communications Sep 2023 | $111,758 | $111,758 |
| Wespac Bkg Corp Nov 2020 | $197,449 | $197,449 |
| XCEL Energy May 2020 | $101,192 | $101,192 |
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 | $48,766,783 | EOYBookValueAmt |
| EOYFMV | $48,766,783 | EOYFMVAmt |
Investments Govt Obligations Sch InvestmentsGovtObligationsSch
| Field | Value | IRS element (for citing) |
|---|---|---|
| US Govt Obligations Book Vl EOY | $3,794,466 | USGovtObligationsBookVlEOYAmt |
| US Govt Obligations EOYFMV | $3,794,466 | USGovtObligationsEOYFMVAmt |
| State Local Sec Book Vl EOY | $2,115,749 | StateLocalSecBookVlEOYAmt |
| State Local Sec EOYFMV | $2,115,749 | 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 | $12,211,145 | $12,211,145 |
| Accrued interest - PRI | AT COST | $284,179 | $284,179 |
| Blackstone Strategic Partners | FMV | $213,909 | $213,909 |
| CSP III Distressted Opportunities | FMV | $187,780 | $187,780 |
| Czech II Senior Loan Trust | FMV | $95,870 | $95,870 |
| GSO Mezzanine Finance Fund | FMV | $252,726 | $252,726 |
| SLP IV Technology Fund | FMV | $643,368 | $643,368 |
| Privately-held securities | FMV | $57,909,249 | $57,909,249 |
| LS Real Estate Recoverty IV Trust | FMV | $144,554 | $144,554 |
| Czech III Senior Loan Trust | FMV | $347,017 | $347,017 |
| Turner-Agassi Educational Facilities | FMV | $207,983 | $207,983 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Legal | CategoryTxt |
| Legal Fees | $31,622 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $31,622 | DisbursementsCharitablePrpsAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (10 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|
| Bank charges | $294 | |
| Dues & subscriptions | $3,773 | $3,000 |
| Insurance | $17,119 | |
| IT services | $5,683 | |
| Licenses & fees | $62 | |
| Parking | $1,874 | |
| Postage | $187 | |
| Storage | $636 | |
| Supplies | $2,235 | |
| Telephone | $1,019 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Passthrough Investments | Desc |
| Revenue And Expenses Per Books | $191,225 | RevenueAndExpensesPerBooksAmt |
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 | $6,967 | $0 | $0 | $0 |
| Investment management | $405,639 | $405,033 | $0 | $0 |
| Public relations | $15,000 | $0 | $0 | $15,000 |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (3 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|
| Federal income taxes | $187,001 | |
| Foreign taxes | $8,099 | $8,099 |
| Payroll taxes | $17,540 |
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