JAMES LEE SORENSON FAMILY FOUNDATION: Form 990PF, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- JAMES LEE SORENSON FAMILY FOUNDATION (EIN 45-6794415)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-11-15
- IRS object ID
- 201943199349104249
- 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 Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-11-15T15:06:11-08:00 | 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 | 456794415 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | James Lee Sorenson Family Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | JAME | 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 | James Lee Sorenson | PersonNm |
| Person Title | Trustee | PersonTitleTxt |
| Signature | 2019-11-15 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2020-03-31 21:24:44Z | 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 | $49,418,531 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Dividends Rev And Expnss | $1,732,158 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $1,492,020 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $1,824,704 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $7,873,473 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $1,828,586 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Net Invst Incm | $38,765 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | $3,556,862 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $3,359,371 | TotalNetInvstIncmAmt |
| Legal Fees Rev And Expnss | $55 | LegalFeesRevAndExpnssAmt |
| Accounting Fees Rev And Expnss | $13,775 | AccountingFeesRevAndExpnssAmt |
| Other Prof Fees Rev And Expnss | $197,472 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $197,472 | OtherProfFeesNetInvstIncmAmt |
| Taxes Rev And Expnss | $32,821 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $24,679 | TaxesNetInvstIncmAmt |
| Trav Conf Meeting Rev And Expnss | $30,000 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Dsbrs Chrtbl | $30,000 | TravConfMeetingDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $169 | OtherExpensesRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $274,292 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $222,151 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $30,000 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $1,524,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $1,524,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $1,798,292 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $222,151 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $1,554,000 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $1,758,570 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $3,137,220 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $1,542 | CashBOYAmt |
| Cash EOY | $119,052 | CashEOYAmt |
| Cash EOYFMV | $119,052 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $1,343,369 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $2,744,276 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $2,744,276 | SavAndTempCashInvstEOYFMVAmt |
| US Government Obligations BOY | $733,488 | USGovernmentObligationsBOYAmt |
| US Government Obligations EOY | $523,573 | USGovernmentObligationsEOYAmt |
| US Govt Obligations EOYFMV | $523,573 | USGovtObligationsEOYFMVAmt |
| Corporate Stock BOY | $39,264,748 | CorporateStockBOYAmt |
| Corporate Stock EOY | $36,381,659 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $36,381,659 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $3,385,806 | CorporateBondsBOYAmt |
| Corporate Bonds EOY | $2,763,526 | CorporateBondsEOYAmt |
| Corporate Bonds EOYFMV | $2,763,526 | CorporateBondsEOYFMVAmt |
| Other Investments BOY | $4,794,262 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $2,563,274 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $2,647,067 | OtherInvestmentsEOYFMVAmt |
| Other Assets BOY | $3,432,099 | OtherAssetsBOYAmt |
| Other Assets EOY | $4,239,378 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $4,239,378 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $52,955,314 | TotalAssetsBOYAmt |
| Total Assets EOY | $49,334,738 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $49,418,531 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
| Retained Earning BOY | $52,955,314 | RetainedEarningBOYAmt |
| Retained Earning EOY | $49,334,738 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $52,955,314 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $49,334,738 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $52,955,314 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $49,334,738 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $52,955,314 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $1,758,570 | ExcessRevenueOverExpensesAmt |
| Subtotal | $54,713,884 | SubtotalAmt |
| Other Decreases | $5,379,146 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $49,334,738 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (5 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 | $5,199,136 | $3,894,887 | $1,304,249 | $1,304,249 | ||
| LP interest | P | $1,592,040 | $1,125,000 | $467,040 | $467,040 | 2012-05-01 | 2018-01-22 |
| LP interest | P | $1,082,297 | $975,000 | $107,297 | $107,297 | 2012-05-01 | 2018-01-29 |
| Ojay Greene stock | P | $25,000 | -$25,000 | -$25,000 | 2016-06-10 | 2018-12-31 | |
| eMoneyPool stock | P | $25,000 | -$25,000 | -$25,000 | 2014-09-04 | 2018-12-31 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $1,828,586 | CapitalGainNetIncomeAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | false | LiableSection4942TaxInd |
| Adjusted Qlfy Distri Yr1 | $2,065,834 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $46,851,717 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.04409 | DistributionYr1Rt |
| Adjusted Qlfy Distri Yr2 | $2,302,660 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $43,969,928 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 0.05237 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $2,390,906 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $45,924,663 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.05206 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $2,335,370 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $46,802,340 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.04990 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $1,366,455 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $43,128,151 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.03168 | DistributionYr5Rt |
| Total Distribution | 0.230106 | TotalDistributionRt |
| Average Distribution | 0.046021 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $49,338,510 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $2,270,608 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $31,372 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $2,301,980 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $2,441,175 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | Yes (X) | DomesticOrgMeetingSect4940eInd |
| Investment Income Excise Tax | $31,372 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $31,372 | SubtotalAmt |
| Tax Based On Investment Income | $31,372 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $31,910 | EstimatedPlusOvpmtIncmTxAmt |
| Extsn Request Income Tax Paid | $21,000 | ExtsnRequestIncomeTaxPaidAmt |
| Total Payments And Credits | $52,910 | TotalPaymentsAndCreditsAmt |
| Overpayment | $21,538 | OverpaymentAmt |
| Applied To ES Tax | $21,538 | 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 | N/A | 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | James Lee Sorenson | PersonNm |
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 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Title | Trustee | TitleTxt |
| Average Hrs Per Wk Devoted To Pos | 5.00 | AverageHrsPerWkDevotedToPosRt |
| Compensation | $0 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Sepio Capital | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 California Street Suite 3525 | AddressLine1Txt |
| City | San Francisco | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 94111 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Service Type | Investment advice | ServiceTypeTxt |
| Compensation | $197,219 | CompensationAmt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | SLCO PFS I: Funding for participation in a private enterprise project to lessen the burdens of government related to homelessness, affordable housing, and recitivism. | Description1Txt |
| Expenses1 | $240,625 | Expenses1Amt |
| Description2 | University of Utah - UVF II: Educating students in social impact entrepreneurship and promoting community development in low and moderate-income households. | Description2Txt |
| Expenses2 | $187,037 | Expenses2Amt |
| All Other Program Rltd Invst Tot | $459,513 | AllOtherProgramRltdInvstTotAmt |
| Total | $887,175 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $45,015,876 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $4,405,602 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $668,380 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $50,089,858 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Adjusted Total FMV Of Unused Ast | $50,089,858 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $751,348 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $49,338,510 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $2,466,926 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $2,466,926 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $31,372 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $31,372 | TotalTaxAmt |
| Distributable Before Adj | $2,435,554 | DistributableBeforeAdjAmt |
| Recoveries Qualfied Distri | $21,187 | RecoveriesQualfiedDistriAmt |
| Distributable Before Ded | $2,456,741 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $2,456,741 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $1,554,000 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $887,175 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $2,441,175 | QualifyingDistributionsAmt |
| Pct Sect4940e Org Net Invst Incm | $31,372 | PctSect4940eOrgNetInvstIncmAmt |
| Adjusted Qualifying Distri | $2,409,803 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $2,456,741 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $2,271,469 | UndistributedIncomePYAmt |
| Qualifying Distributions | $2,441,175 | QualifyingDistributionsAmt |
| Applied To Year1 | $2,271,469 | AppliedToYear1Amt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $169,706 | AppliedToCurrentYearAmt |
| Undistributed Income CY | $2,287,035 | UndistributedIncomeCYAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | James Lee Sorenson | ContributingManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (7 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient RelationshipRecipientRelationshipTxt | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|---|
| The Church of Jesus Christ of LDS | |||||||
| 50 E North Temple | Salt Lake City | UT | 84150 | None | PC | General support | $675,000 |
| Junior Achievement of Utah | |||||||
| 515 South 700 East 1F | Salt Lake City | UT | 84102 | None | PC | Silent auction sponsorship | $5,000 |
| University of Utah | |||||||
| 540 Arapeen Drive Suite 250 | Salt Lake City | UT | 84108 | None | PC | Innovation Summit; Impact Investing Center | $712,500 |
| Gallaudet University | |||||||
| 800 Florida Avenue NE | Washington | DC | 20002 | None | PC | Funding for entreprenuer awards | $18,500 |
| The Leonardo | |||||||
| 1209 E 500 S | Salt Lake City | UT | 84111 | None | PC | General support | $25,000 |
| Great Salt Lake Council BSA | |||||||
| 525 Foothill Drive | Salt Lake City | UT | 84113 | None | PC | Funding for capital projects | $47,000 |
| Salt Lake County | |||||||
| 2001 State Street | Salt Lake City | UT | 84190 | None | GOV | River's edge project | $41,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $1,524,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $1,732,158 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $1,824,704 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Income from passthroughs | Desc |
| Exclusion | 14 | ExclusionCd |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $3,556,862 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $3,556,862 | 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 | The trustee for James Lee Sorenson Family Foundation also serves as a Director for Friends of Art Works for Kids | RelationshipDescriptionTxt |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | ` | CategoryTxt |
| Amt | $13,775 | 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 (7 entries)
| DescDesc | AmtAmt |
|---|---|
| Elevar Equity: Developing essential products and services for disconnected communities in Latin America, Asia and other jurisdictions. | $61,500 |
| Owl Ventures: Addressing problems associated with poor learning achievement outcomes and increasing educational opportunities. | $60,000 |
| Better World Wireless: Offering mobile solutions to vulnerable populations for the purposes of increasing livelihoods and access to housing, health care, and job opportunities. | $50,000 |
| Capria: Creation of early-stage impact funds in emerging markets for the purpose of improving lives of low-income individuals. | $50,000 |
| VilCap Investments: Investing in positive social and/or environmental impact companies for purposes such as clean energy, increasing access to education and healthcare, and improving livelihoods of underprivileged populations. | $119,195 |
| Newday Financial Technologies: Increasing access to and awareness of socially-impactful investments. | $100,000 |
| Quidnet Energy: Addressing environmental issues with traditional energy generation and providing solutions to electricity grid limitations. | $18,818 |
Contractor Compensation Expln ContractorCompensationExpln
Contractor Comp Expln ContractorCompExplnGrp
Contractor Business Name ContractorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Sepio Capital | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | The foundation paid fees to Sepio Capital for investment advisory services. The fees were determined at arms length and represent fair value for the services rendered. | ExplanationTxt |
Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule
Investments Corporate Bonds InvestmentsCorporateBondsGrp (12 entries)
| BondBondNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| Boeing Co | $255,627 | $255,627 |
| JPMorgan Chase & Co | $255,420 | $255,420 |
| Newmont Mining Corp | $307,813 | $307,813 |
| Goldman Sachs Group | $259,464 | $259,464 |
| Kinder Morgan Energy Partners | $260,661 | $260,661 |
| Waste Management Inc | $261,566 | $261,566 |
| Hewlett-Packard Co | $310,729 | $310,729 |
| Apple Inc GLB Feb 2023 | $199,575 | $199,575 |
| Enterprise Products Feb 2024 | $102,320 | $102,320 |
| Enterprise Products Feb 2022 | $103,069 | $103,069 |
| Morgan Stanley GLB JUL 2025 | $200,821 | $200,821 |
| Watson Pharmaceuticals | $246,461 | $246,461 |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Stock | Publicly traded stocks (see stmt) | StockNm |
| EOY Book Value | $36,381,659 | EOYBookValueAmt |
| EOYFMV | $36,381,659 | EOYFMVAmt |
Investments Govt Obligations Sch InvestmentsGovtObligationsSch
| Field | Value | IRS element (for citing) |
|---|---|---|
| State Local Sec Book Vl EOY | $523,573 | StateLocalSecBookVlEOYAmt |
| State Local Sec EOYFMV | $523,573 | StateLocalSecEOYFMVAmt |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (10 entries)
| Category Or ItemCategoryOrItemTxt | Listed At Cost Or FMVListedAtCostOrFMVCd | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| SLP IV Technology Fund | FMV | $643,368 | $643,368 |
| CSP III Distressed Opp Fund | FMV | $187,780 | $187,780 |
| Czech II Senior Loan Trust | FMV | $95,870 | $95,870 |
| Blackstone Strategic Partners LP | FMV | $213,909 | $213,909 |
| Sorenson Capital III LP | AT COST | $416,926 | $500,719 |
| Catchafire Inc | AT COST | $125,195 | $125,195 |
| LS Real Estate Recovery IV Trust | FMV | $144,554 | $144,554 |
| Czech III Senior Loan Trust | FMV | $347,017 | $347,017 |
| Turner-Agassi Educational Facilities | FMV | $138,655 | $138,655 |
| Unitus Capital | AT COST | $250,000 | $250,000 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legal Fees | $55 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Bank charges | Desc |
| Revenue And Expenses Per Books | $169 | RevenueAndExpensesPerBooksAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Investment advisory fees | CategoryTxt |
| Amt | $197,472 | Amt |
| Net Investment Income | $197,472 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|
| Federal taxes | $25,000 | |
| Foreign taxes | $7,821 | $24,679 |
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