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BEVERLEY TAYLOR SORENSON FOUNDATION: Form 990PF, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
BEVERLEY TAYLOR SORENSON FOUNDATION (EIN 46-3784084)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-06-03
IRS object ID
201501549349100315
Schema version
2014v5.0
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 ReturnHeader

FieldValueIRS element (for citing)
Return2015-06-03T15:40:21-07:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CRAIG C MORTENSEN PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line111256 Calais CircleAddressLine1Txt
CityHighlandCityNm
State AbbreviationUTStateAbbreviationCd
ZIP84003ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2014-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN463784084EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Beverley Taylor Sorenson FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlBEVEBusinessNameControlTxt
Phone8014901012PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1299 S Main Street Suite 2200AddressLine1Txt
CitySalt Lake CityCityNm
State AbbreviationUTStateAbbreviationCd
ZIP84111ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJames Lee SorensonPersonNm
Person TitleDirectorPersonTitleTxt
Signature2015-06-03SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonCraig MortensenPreparerPersonNm
PTINP00535297PTIN
Phone8012307721PhoneNum
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-02-25 16:41:14ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$21,797,518FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$20,709,218ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Net Invst Incm$761InterestOnSavNetInvstIncmAmt
Dividends Net Invst Incm$20,571DividendsNetInvstIncmAmt
Total Rev And Expnss$20,709,218TotalRevAndExpnssAmt
Total Net Invst Incm$21,332TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$10,874LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm$5,436LegalFeesNetInvstIncmAmt
Other Prof Fees Rev And Expnss$4,062OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$4,062OtherProfFeesNetInvstIncmAmt
Other Expenses Rev And Expnss$205OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$205OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$15,141TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$9,703TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$557,257ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$557,257ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$572,398TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$9,703TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$557,257TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$20,136,820ExcessRevenueOverExpensesAmt
Net Investment Income$11,629NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$299,087SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$3,472,775SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$3,472,775SavAndTempCashInvstEOYFMVAmt
Corporate Stock EOY$14,642,622CorporateStockEOYAmt
Corporate Stock EOYFMV$16,132,860CorporateStockEOYFMVAmt
Corporate Bonds EOY$2,273,545CorporateBondsEOYAmt
Corporate Bonds EOYFMV$2,191,883CorporateBondsEOYFMVAmt
Total Assets BOY$299,087TotalAssetsBOYAmt
Total Assets EOY$20,388,942TotalAssetsEOYAmt
Total Assets EOYFMV$21,797,518TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Capital Stock BOY$299,087CapitalStockBOYAmt
Capital Stock EOY$20,388,942CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY$299,087TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$20,388,942TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$299,087TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$20,388,942TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$299,087TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$20,136,820ExcessRevenueOverExpensesAmt
Subtotal$20,435,907SubtotalAmt
Other Decreases$46,965OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$20,388,942TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$233InvestmentIncomeExciseTaxAmt
Subtotal$233SubtotalAmt
Tax Based On Investment Income$233TaxBasedOnInvestmentIncomeAmt
Tax Due$233TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Form990 T FiledfalseForm990TFiledInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1James Lee SorensonBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8014901012PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1299 S Main Street Suite 2200AddressLine1Txt
CitySalt Lake CityCityNm
State AbbreviationUTStateAbbreviationCd
ZIP84111ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
Business HoldingsfalseBusinessHoldingsInd
Excess Business HoldingsfalseExcessBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Transactions Fail To Qlfy As ExcfalseTransactionsFailToQlfyAsExcInd
Maintained Expenditure RspnsfalseMaintainedExpenditureRspnsInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Proceeds Or Net IncomefalseProceedsOrNetIncomeInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
James Lee Sorenson
299 S Main Street Suite 2200Salt Lake CityUT84111Director0.00$0
Joan Fenton
299 S Main Street Suite 2250Salt Lake CityUT84111Director0.00$0
Joseph Sorenson
299 S Main Street Suite 2200Salt Lake CityUT84111Director0.00$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$1,541,645AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$420,181AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,961,826TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$1,961,826AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$29,427CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,932,399NetVlNoncharitableAssetsAmt
Minimum Investment Return$96,620MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$96,620MinimumInvestmentReturnAmt
Tax Based On Investment Income$233TaxBasedOnInvestmentIncomeAmt
Total Tax$233TotalTaxAmt
Distributable Before Adj$96,387DistributableBeforeAdjAmt
Distributable Before Ded$96,387DistributableBeforeDedAmt
Distributable As Adjusted$96,387DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$557,257ExpensesAndContributionsAmt
Qualifying Distributions$557,257QualifyingDistributionsAmt
Adjusted Qualifying Distri$557,257AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$96,387DistributableAsAdjustedAmt
Excess Distribution Cyov Yr1$152,432ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$152,432TotalExcessDistributionCyovAmt
Qualifying Distributions$557,257QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$96,387AppliedToCurrentYearAmt
Remaining Distri From Corpus$460,870RemainingDistriFromCorpusAmt
Total Corpus$613,302TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$613,302ExcessDistriCyovToNextYrAmt
Excess From Year1$152,432ExcessFromYear1Amt
Excess From Current Year$460,870ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonBeverley Taylor Sorenson FoundationRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1299 S Main Street Suite 2200AddressLine1Txt
CitySalt Lake CityCityNm
State AbbreviationUTStateAbbreviationCd
ZIP84111ZIPCd
FieldValueIRS element (for citing)
Recipient Phone8014901000RecipientPhoneNum
Form And Info And MaterialsApplicants may obtain a Grant Application by contacting the Foundation at the above address or by calling the above telephone number. Information required by the Foundation for consideration of a grant includes the description of the applicant's organization and mission, a copy of applicant's IRS Determination Letter for qualification as a 501(c)(3) exempt organization (if applicable), a copy of the applicant's most recent financial statements, background of the applicant's directors and key personnel, a statement of the amount of the grant requested and detailed information as to how and when the grant funds will be used, and other information outlined in the Grant ApplicationFormAndInfoAndMaterialsTxt
Submission DeadlinesQuarterly: January 1, April 1, July 1, October 1SubmissionDeadlinesTxt
Restrictions On AwardsAn award of a grant will only be made for permitted charitable purposes consistent with the purpose and mission of the Foundation and the Internal Revenue Code and applicable tax lawRestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Art Works for Kids of Utah
299 S Main Ste 2200Salt Lake CityUT84111NonePFArts Education$543,700
University of Utah
1395 Presidents CircleSalt Lake CityUT84112NoneGOVFund Arts$13,557
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$557,257TotalGrantOrContriPdDurYrAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLegal & AccountingCategoryTxt
Legal Fees$10,874LegalFeesAmt
Net Investment Income$5,436NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescBank ChargesDesc
Revenue And Expenses Per Books$205RevenueAndExpensesPerBooksAmt
Net Investment Income$205NetInvestmentIncomeAmt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryManagement FeesCategoryTxt
Amt$4,062Amt
Net Investment Income$4,062NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

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