efile Public Visual Render
ObjectId: 202331459349100503 - Submission: 2023-05-25
TIN: 52-1599160
Form
990-PF
Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
Do not enter social security numbers on this form as it may be made public.
Go to
www.irs.gov/Form990PF
for instructions and the latest information.
OMB No. 1545-0047
20
22
Open to Public Inspection
For calendar year 2022, or tax year beginning
01-01-2022
, and ending
12-31-2022
Name of foundation
FOUNDATION FOR INDIVIDUAL LIBERTY
Number and street (or P.O. box number if mail is not delivered to street address)
56 N HADDON AVENUE FLOOR 3
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HADDONFIELD
,
NJ
08033
A Employer identification number
52-1599160
B
Telephone number (see instructions)
(856) 354-2200
C
If exemption application is pending, check here
G
Check all that apply:
Initial return
Initial return of a former public charity
Final return
Amended return
Address change
Name change
D 1.
Foreign organizations, check here.............
2
. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
If private foundation status was terminated
under section 507(b)(1)(A), check here .......
H
Check type of organization:
Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust
Other taxable private foundation
F
If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here .......
I
Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)
$
7,977,127
J
Accounting method:
Cash
Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)
Part I
Analysis of Revenue and Expenses
(The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)
(a)
Revenue and
expenses per
books
(b)
Net investment
income
(c)
Adjusted net
income
(d)
Disbursements
for charitable
purposes
(cash basis only)
1
Contributions, gifts, grants, etc., received (attach schedule)
2
Check
.............
3
Interest on savings and temporary cash investments
9,866
4
Dividends and interest from securities
...
322,962
237,599
5a
Gross rents
............
b
Net rental income or (loss)
6a
Net gain or (loss) from sale of assets not on line 10
-907,046
b
Gross sales price for all assets on line 6a
10,814,756
7
Capital gain net income (from Part IV, line 2)
...
0
8
Net short-term capital gain
.........
9
Income modifications
...........
10a
Gross sales less returns and allowances
b
Less: Cost of goods sold
....
c
Gross profit or (loss) (attach schedule)
.....
11
Other income (attach schedule)
.......
List of Attached Documents:
// Content
69,024
-965
0
12
Total.
Add lines 1 through 11
........
-515,060
246,500
0
13
Compensation of officers, directors, trustees, etc.
0
0
0
0
14
Other employee salaries and wages
......
15
Pension plans, employee benefits
.......
16a
Legal fees (attach schedule)
.........
b
Accounting fees (attach schedule)
.......
List of Attached Documents:
// Content
16,800
8,400
0
8,400
c
Other professional fees (attach schedule)
....
1,102
17
Interest
...............
18
Taxes (attach schedule) (see instructions)
...
List of Attached Documents:
// Content
7,019
6,059
0
0
19
Depreciation (attach schedule) and depletion
...
20
Occupancy
..............
21
Travel, conferences, and meetings
.......
60,783
0
0
60,783
22
Printing and publications
..........
23
Other expenses (attach schedule)
.......
List of Attached Documents:
// Content
617
20,063
0
0
24
Total operating and administrative expenses.
Add lines 13 through 23
..........
85,219
35,624
0
69,183
25
Contributions, gifts, grants paid
.......
428,000
428,000
26
Total expenses and disbursements.
Add lines 24 and 25
513,219
35,624
0
497,183
27
Subtract line 26 from line 12:
a
Excess of revenue over expenses and disbursements
-1,028,279
b
Net investment income
(if negative, enter -0-)
210,876
c
Adjusted net income
(if negative, enter -0-)
...
0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X
Form
990-PF
(2022)
Page 2
Form 990-PF (2022)
Page
2
Part II
Balance Sheets
Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)
Beginning of year
End of year
(a)
Book Value
(b)
Book Value
(c)
Fair Market Value
1
Cash—non-interest-bearing
.............
3,817,735
3,141,677
3,141,677
2
Savings and temporary cash investments
.........
3
Accounts receivable
Less: allowance for doubtful accounts
4
Pledges receivable
Less: allowance for doubtful accounts
5
Grants receivable
.................
6
Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions)
.....
7
Other notes and loans receivable (attach schedule)
Less: allowance for doubtful accounts
8
Inventories for sale or use
..............
9
Prepaid expenses and deferred charges
..........
10a
Investments—U.S. and state government obligations (attach schedule)
b
Investments—corporate stock (attach schedule)
.......
5,104,950
List of Attached Documents:
// Content
4,835,450
4,835,450
c
Investments—corporate bonds (attach schedule)
.......
11
Investments—land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
12
Investments—mortgage loans
.............
13
Investments—other (attach schedule)
..........
580,750
0
0
14
Land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
15
Other assets (describe
)
16
Total assets
(to be completed by all filers—see the
instructions. Also, see page 1, item I)
9,503,435
7,977,127
7,977,127
17
Accounts payable and accrued expenses
..........
18
Grants payable
.................
19
Deferred revenue
.................
20
Loans from officers, directors, trustees, and other disqualified persons
21
Mortgages and other notes payable (attach schedule)
......
22
Other liabilities (describe
)
23
Total liabilities
(add lines 17 through 22)
.........
0
0
Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24
Net assets without donor restrictions
...........
9,503,435
7,977,127
25
Net assets with donor restrictions
............
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26
Capital stock, trust principal, or current funds
........
27
Paid-in or capital surplus, or land, bldg., and equipment fund
28
Retained earnings, accumulated income, endowment, or other funds
29
Total net assets or fund balances
(see instructions)
.....
9,503,435
7,977,127
30
Total liabilities and net assets/fund balances
(see instructions)
.
9,503,435
7,977,127
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return)
...............
1
9,503,435
2
Enter amount from Part I, line 27a
.....................
2
-1,028,279
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3
..........................
4
8,475,156
5
Decreases not included in line 2 (itemize)
List of Attached Documents:
// Content
5
498,029
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29
.
6
7,977,127
Form
990-PF
(2022)
Page 3
Form 990-PF (2022)
Page
3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a)
List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)
(b)
How acquired
P—Purchase
D—Donation
(c)
Date acquired
(mo., day, yr.)
(d)
Date sold
(mo., day, yr.)
1 a
ST PUBLICLY TRADED G/L (COVERED)
P
b
SISECAM RESOURCES LP
P
c
ENERGY TRANSFER LP
P
d
ICAHN ENTERPRISES LP
P
e
PENNSYLVANIA REAL ESTATE INVT TR
P
PLAINS ALL AMERICAN PIPELINE LP
P
LT PUBLICLY TRADED G/L (COVERED)
P
ENERGY TRANSFER PARTNERS LP
P
GLOBAL PARTNERS LP
P
PLAINS ALL AMERICAN PIPELINE LP
P
ST CAPITAL LOSS FROM LPS
P
LT CAPITAL LOSS FROM LPS
P
SECTION 1231 GAINS LPS
P
CREDIT SUISSE GROUP
P
APARTMENTINVT&MGMTCO LT CG DISTRIBTION
P
P
(e)
Gross sales price
(f)
Depreciation allowed
(or allowable)
(g)
Cost or other basis
plus expense of sale
(h)
Gain or (loss)
(e) plus (f) minus (g)
a
7,038,158
7,326,245
-288,087
b
210,923
222,202
-11,279
c
280,512
225,779
54,733
d
812,538
736,336
76,202
e
4
4
114,407
111,749
2,658
1,590,636
2,379,047
-788,411
275,640
156,074
119,566
296,060
174,842
121,218
171,592
135,345
36,247
1,216
-1,216
3,018
3,018
11,333
11,333
9,563
9,563
372
372
0
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69
(l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-)
or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69
(j)
Adjusted basis
as of 12/31/69
(k)
Excess of col. (i)
over col. (j), if any
a
-288,087
b
-11,279
c
54,733
d
76,202
e
4
2,658
-788,411
119,566
121,218
36,247
-1,216
3,018
11,333
9,563
372
0
2
Capital gain net income or (net capital loss)
If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7
2
-654,079
3
Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8
...................
3
-166,985
Form
990-PF
(2022)
Page 4
Form 990-PF (2022)
Page
4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a
Exempt operating foundations described in section 4940(d)(2), check here
and enter “N/A" on line 1.
Date of ruling or determination letter:
(attach copy of letter if necessary–see instructions)
1
2,931
b
All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2
Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)
2
0
3
Add lines 1 and 2
...........................
3
2,931
4
Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)
4
0
5
Tax based on investment income.
Subtract line 4 from line 3. If zero or less, enter -0-
.....
5
2,931
6
Credits/Payments:
a
2022 estimated tax payments and 2021 overpayment credited to 2022
6a
14,371
b
Exempt foreign organizations—tax withheld at source
......
6b
0
c
Tax paid with application for extension of time to file (Form 8868)
...
6c
0
d
Backup withholding erroneously withheld
..........
6d
0
7
Total credits and payments. Add lines 6a through 6d
..............
7
14,371
8
Enter any
penalty
for underpayment of estimated tax.
Check here
if Form 2221 is attached.
8
0
9
Tax due.
If the total of lines 5 and 8 is more than line 7, enter
amount owed
.......
9
10
Overpayment.
If line 7 is more than the total of lines 5 and 8, enter the
amount overpaid
...
10
11,440
11
Enter the amount of line 10 to be:
Credited to 2023 estimated tax
11,440
Refunded
11
0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign?
....................
1a
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition
.................................
1b
No
If the answer is "Yes" to
1a
or
1b,
attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file
Form 1120-POL
for this year?
.....................
1c
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1)
On the foundation.
$
0
(2)
On foundation managers.
$
0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.
$
0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?
.......
2
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments?
If "Yes," attach a conformed copy of the changes
....
3
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?
.........
4a
Yes
b
If "Yes," has it filed a tax return on
Form 990-T
for this year?
...................
4b
Yes
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?
.........
5
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
By language in the governing instrument, or
By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument?
................
6
Yes
7
Did the foundation have at least $5,000 in assets at any time during the year?
If "Yes," complete Part II, col. (c),
and Part XIV.
.................................
7
Yes
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
NJ
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G?
If "No," attach explanation
.
8b
Yes
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2022 or the taxable year beginning in 2022? See the instructions for Part XIII.
If "Yes," complete Part XIII
.............................
9
No
10
Did any persons become substantial contributors during the tax year?
If "Yes," attach a schedule listing their names
and addresses.
...............................
10
No
Form
990-PF
(2022)
Page 5
Form 990-PF (2022)
Page
5
Part VI-A
Statements Regarding Activities
(continued)
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions
.............
11
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions
.................
12
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
Website address
WWW.UMHOLDINGS.COM/FOUNDATION
14
The books are in care of
LAURIE KORTH
Telephone no.
(856) 354-2200
Located at
56 N HADDON AVENUE
HADDONFIELD
NJ
ZIP+4
08033
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of
Form 1041
—check here
.........
and enter the amount of tax-exempt interest received or accrued during the year
........
15
16
At any time during calendar year 2022, did the foundation have an interest in or a signature or other authority over
Yes
No
a bank, securities, or other financial account in a foreign country?
.................
16
No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1)
Engage in the sale or exchange, or leasing of property with a disqualified person?
...........
1a(1)
No
(2)
Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person?
..............................
1a(2)
No
(3)
Furnish goods, services, or facilities to (or accept them from) a disqualified person?
...........
1a(3)
Yes
(4)
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
............
1a(4)
Yes
(5)
Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)?
......................
1a(5)
No
(6)
Agree to pay money or property to a government official? (
Exception.
Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.)
...............
1a(6)
No
b
If any answer is "Yes" to 1a(1)–(6), did
any
of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions
..........
1b
No
c
Organizations relying on a current notice regarding disaster assistance check here
........
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2022?
.............
1d
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2022, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2022?
....................
2a
No
If "Yes," list the years
20
,
20
,
20
,
20
b
Are there any years listed in 2a for which the foundation is
not
applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to
all
years listed, answer "No" and attach statement—see instructions.)
..............
2b
c
If the provisions of section 4942(a)(2) are being applied to
any
of the years listed in 2a, list the years here.
20
,
20
,
20
,
20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year?
..............................
3a
No
b
If "Yes," did it have excess business holdings in 2022 as a result of
(1)
any purchase by the foundation
or disqualified persons after May 26, 1969;
(2)
the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or
(3)
the lapse of the 10-, 15-, or 20-year first phase holding period?
(Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2022.)
.....................
3b
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2022?
..
4b
No
Form
990-PF
(2022)
Page 6
Form 990-PF (2022)
Page
6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
(continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1)
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
..........
5a(1)
No
(2)
Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive?
....................
5a(2)
No
(3)
Provide a grant to an individual for travel, study, or other similar purposes?
.............
5a(3)
No
(4)
Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions
........................
5a(4)
No
(5)
Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals?
.............
5a(5)
No
b
If any answer is "Yes" to 5a(1)–(5), did
any
of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions
........
5b
c
Organizations relying on a current notice regarding disaster assistance check
.........
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant?
.................
5d
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract?
.............................
6a
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?
....
6b
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction?
.....
7b
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year?
.........................
8
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1
List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a)
Name and address
(b)
Title, and average
hours per week
devoted to position
(c)
Compensation
(If not paid, enter
-0-)
(d)
Contributions to employee benefit plans and deferred compensation
(e)
Expense account,
other allowances
JOHN AGLIAORO
CO-CHAIRMAN/TRUSTEE
1.00
0
0
0
56 N HADDON AVENUE FLOOR 3
HADDONFIELD
,
NJ
08033
JOAN CARTER
CO-CHAIRMAN/SECRETARY/TRUSTEE
1.00
0
0
0
56 N HADDON AVENUE FLOOR 3
HADDONFIELD
,
NJ
08033
ARTHUR W HICKS JR
V. PRESIDENT/TREASURER/TRUSTEE
1.00
0
0
0
56 N HADDON AVENUE FLOOR 3
HADDONFIELD
,
NJ
08033
JAMES CARLL
ASSISTANT SECRETARY/TRUSTEE
1.00
0
0
0
56 N HADDON AVENUE FLOOR 3
HADDONFIELD
,
NJ
08033
LIESEL HENDERSON
TRUSTEE
1.00
0
0
0
56 N HADDON AVENUE FLOOR 3
HADDONFIELD
,
NJ
08033
MARK HENDERSON
TRUSTEE
1.00
0
0
0
56 N HADDON AVENUE FLOOR 3
HADDONFIELD
,
NJ
08033
JORDAN MERSKY
TRUSTEE
1.00
0
0
0
56 N HADDON AVENUE FLOOR 3
HADDONFIELD
,
NJ
08033
JUSTIN AGLIALORO
TRUSTEE
1.00
0
0
0
56 N HADDON AVENUE FLOOR 3
HADDONFIELD
,
NJ
08033
2
Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a)
Name and address of each employee paid more than $50,000
(b)
Title, and average
hours per week
devoted to position
(c)
Compensation
(d)
Contributions to
employee benefit
plans and deferred
compensation
(e)
Expense account,
other allowances
NONE
Total
number of other employees paid over $50,000
...................
0
Form
990-PF
(2022)
Page 7
Form 990-PF (2022)
Page
7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
(continued)
3
Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a)
Name and address of each person paid more than $50,000
(b)
Type of service
(c)
Compensation
NONE
Total
number of others receiving over $50,000 for professional services
.............
0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.
Expenses
1
2
3
4
Part VIII-B
Summary of Program-Related Investments
(see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.
Amount
1
NONE
0
2
All other program-related investments. See instructions.
3
List of Attached Documents:
// Content
0
Total.
Add lines 1 through 3
.........................
0
Form
990-PF
(2022)
Page 8
Form 990-PF (2022)
Page
8
Part IX
Minimum Investment Return
(All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities
...................
1a
6,658,965
b
Average of monthly cash balances
.......................
1b
2,001,685
c
Fair market value of all other assets (see instructions)
................
1c
0
d
Total
(add lines 1a, b, and c)
.........................
1d
8,660,650
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation)
.............
1e
0
2
Acquisition indebtedness applicable to line 1 assets
..................
2
0
3
Subtract line 2 from line 1d
.........................
3
8,660,650
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions)
.............................
4
129,910
5
Net value of noncharitable-use assets.
Subtract line 4 from line 3.
............
5
8,530,740
6
Minimum investment return.
Enter 5% (0.05) of line 5
................
6
426,537
Part X
Distributable Amount
(see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here
and do not complete this part.)
1
Minimum investment return from Part IX, line 6
..................
1
426,537
2a
Tax on investment income for 2022 from Part V, line 5
.......
2a
2,931
b
Income tax for 2022. (This does not include the tax from Part V.)
...
2b
c
Add lines 2a and 2b
............................
2c
2,931
3
Distributable amount before adjustments. Subtract line 2c from line 1
............
3
423,606
4
Recoveries of amounts treated as qualifying distributions
................
4
0
5
Add lines 3 and 4
............................
5
423,606
6
Deduction from distributable amount (see instructions)
.................
6
0
7
Distributable amount
as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1
...
7
423,606
Part XI
Qualifying Distributions
(see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26
..........
1a
497,183
b
Program-related investments—total from Part VIII-B
..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes
...............................
2
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)
....................
3a
b
Cash distribution test (attach the required schedule)
.................
3b
4
Qualifying distributions.
Add lines 1a through 3b. Enter here and on Part XII, line 4.
.......
4
497,183
Form
990-PF
(2022)
Page 9
Form 990-PF (2022)
Page
9
Part XII
Undistributed Income
(see instructions)
(a)
Corpus
(b)
Years prior to 2021
(c)
2021
(d)
2022
1
Distributable amount for 2022 from Part X, line 7
423,606
2
Undistributed income, if any, as of the end of 2022:
a
Enter amount for 2021 only
.......
0
b
Total for prior years:
2020
,
2019
,
2018
0
3
Excess distributions carryover, if any, to 2022:
a
From 2017
......
141,975
b
From 2018
......
285,092
c
From 2019
......
268,719
d
From 2020
......
142,563
e
From 2021
......
29,106
f
Total
of lines 3a through e
........
867,455
4
Qualifying distributions for 2022 from Part
XI, line 4:
$
497,183
a
Applied to 2021, but not more than line 2a
0
b
Applied to undistributed income of prior years
(Election required—see instructions)
.....
0
c
Treated as distributions out of corpus (Election
required—see instructions)
........
0
d
Applied to 2022 distributable amount
.....
423,606
e
Remaining amount distributed out of corpus
73,577
5
Excess distributions carryover applied to 2022.
0
0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6
Enter the net total of each column as
indicated below:
a
Corpus. Add lines 3f, 4c, and 4e. Subtract line 5
941,032
b
Prior years’ undistributed income. Subtract
line 4b from line 2b
..........
0
c
Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed
......
0
d
Subtract line 6c from line 6b. Taxable amount
—see instructions
...........
0
e
Undistributed income for 2021. Subtract line
4a from line 2a. Taxable amount—see
instructions
.............
0
f
Undistributed income for 2022. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2023
..........
0
7
Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions)
.......
0
8
Excess distributions carryover from 2017 not
applied on line 5 or line 7 (see instructions)
...
141,975
9
Excess distributions carryover to 2023.
Subtract lines 7 and 8 from line 6a
......
799,057
10
Analysis of line 9:
a
Excess from 2018
....
285,092
b
Excess from 2019
....
268,719
c
Excess from 2020
....
142,563
d
Excess from 2021
....
29,106
e
Excess from 2022
....
73,577
Form
990-PF
(2022)
Page 10
Form 990-PF (2022)
Page
10
Part XIII
Private Operating Foundations
(see instructions and Part VI-A, question 9)
1a
If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2022, enter the date of the ruling
......
b
Check box to indicate whether the organization is a private operating foundation described in section
4942(j)(3)
or
4942(j)(5)
2a
Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed
..........
Tax year
Prior 3 years
(e) Total
(a)
2022
(b)
2021
(c)
2020
(d)
2019
b
85% (0.85) of line 2a
.........
c
Qualifying distributions from Part XI,
line 4 for each year listed
.....
d
Amounts included in line 2c not used directly
for active conduct of exempt activities
..........
e
Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c
....
3
Complete 3a, b, or c for the
alternative test relied upon:
a
“Assets" alternative test—enter:
(1)
Value of all assets
......
(2)
Value of assets qualifying
under section 4942(j)(3)(B)(i)
b
“Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed
..
c
“Support" alternative test—enter:
(1)
Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties)
....
(2)
Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii)
....
(3)
Largest amount of support
from an exempt organization
(4)
Gross investment income
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1
Information Regarding Foundation Managers:
a
List any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
b
List any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2
Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here
if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
a
The name, address, and telephone number or email address of the person to whom applications should be addressed:
b
The form in which applications should be submitted and information and materials they should include:
c
Any submission deadlines:
d
Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form
990-PF
(2022)
Page 11
Form 990-PF (2022)
Page
11
Part XIV
Supplementary Information
(continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient
If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
Foundation
status of
recipient
Purpose of grant or
contribution
Amount
Name and address (home or business)
a
Paid during the year
ALLIANCE FOR DECISION EDUCATION INC
401 CITY AVENUE SUITE 915
BALA CYNWYD
,
PA
19004
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
5,000
AMERICAN ASSOCIATION FOR CANCER RESEARCH INC
615 CHESTNUT STREET 17TH FLOOR
PHILADELPHIA
,
PA
19106
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
2,500
THE OBJECTIVIST CENTER LTD DBA THE ATLAS SOCIETY
HOME OF THE OBJECTIVIST CENTER 1001
CONNECTICUT AVENUE NW SUITE 380
WASHINGTON
,
DC
20036
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
50,000
THE BARNES FOUNDATION
2025 BENJAMIN FRANKLIN PARKWAY
PHILADELPHIA
,
PA
19130
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
50,000
THE BECKET FUND
1919 PENNSYLVANIA AVE NW
WASHINGTON
,
DC
20006
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
10,000
CAPE REGIONAL HEALTH SYSTEM INC
TWO STONE HARBOR BLVD
CAPE MAY COURT HOUSE
,
NJ
08210
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
5,000
CATO INSTITUTE
1000 MASSACHUSETTS AVE NW
WASHINGTON
,
DC
20001
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
10,000
THE COMMONWEALTH FOUNDATION FOR PUBLIC POLICY ALTERNATIVES
630 FREEDOM BUSINESS CENTER DR
SUITE 109
KING OF PRUSSIA
,
PA
19406
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
25,000
FEDERALIST SOCIETY FOR LAW & PUBLIC POLICIES STUDIES DBA THE FEDERALIST SOC
1776 I STREET NW SUITE 300
WASHINGTON
,
DC
20006
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
10,000
FOUNDATION FOR INDIVIDUAL RIGHTS IN EDUCATION INC
510 WALNUT STREET SUITE 1250
PHILADELPHIA
,
PA
19106
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
10,000
FREEDOMWORKS FOUNDATION INC
111 K STREET NE SUITE 600
WASHINGTON
,
DC
20002
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
50,000
BARRY GOLDWATER INSTITUTE FOR PUBLIC POLICY RESEARCH DBA GOLDWATER INSTITUT
500 EAST CORONADO ROAD
PHOENIX
,
AZ
85004
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
5,000
GOODWILL INDUSTRIES OF SOUTHERN NEW JERSEY & PHILADELPHIA
2835 ROUTE 73
MAPLE SHADE
,
NJ
08052
NONE
GROUP (PC)
ASSISTANCE FOR CHARITABLE PURPOSE
6,000
HEARTLAND INSTITUTE
3939 NORTH WILKE ROAD
ARLINGTON HEIGHTS
,
IL
60004
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
10,000
INDEPENDENCE HISTORICAL TRUST
143 SOUTH THIRD STREET
PHILADELPHIA
,
PA
19106
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
25,000
INSTITUTE FOR JUSTICE
901 N GLEBE ROAD SUITE 900
ARLINGTON
,
VA
22203
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
10,000
MANHATTAN INSTITUTE FOR POLICY RESEARCH INC
52 VANDERBILT AVENUE
NEW YORK
,
NY
10017
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
5,000
MARINE CORPS SCHOLARSHIP FOUNDATION INC
909 N WASHINGTON STREET NO 400
ALEXANDRIA
,
VA
22314
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
10,000
MUSEUM OF THE AMERICAN REVOLUTION
101 SOUTH 3RD ST
PHILADELPHIA
,
PA
19106
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
50,000
NATIONAL CONSTITUTION CENTER
525 ARCH STREET
PHILADELPHIA
,
PA
19106
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
10,000
PHILADELPHIA YOUTH ORCHESTRA
PO BOX 41810
PHILADELPHIA
,
PA
19101
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
2,500
ENCORE SERIES INC DBA THE PHILLY POPS
1518 WALNUT STREET NO 1706
PHILADELPHIA
,
PA
19102
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
17,000
THE REASON FOUNDATION
5737 MESMER AVENUE
LOS ANGELES
,
CA
90230
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
10,000
STATE POLICY NETWORK
1655 NORTH FORT MYER DRIVE NO 360
ARLINGTON
,
VA
22209
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
5,000
UNION LEAGUE LEGACY FOUNDATION
14 SOUTH BROAD STREET
PHILADELPHIA
,
PA
19102
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE - ABRAHAM LINCOLN FOUNDATION - HERITAGE CAMPAIGN UNION LEAGUE OF PHILADELPHIA
15,000
WILLIAMSON COLLEGE OF THE TRADES
106 S NEW MIDDLETOWN ROAD
MEDIA
,
PA
19063
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
10,000
YOUNG AMERICANS FOR LIBERTY FOUNDATION
500 N CAPITAL OF TEXAS HWY BLDG 5
SUITE 100
AUSTIN
,
TX
78746
NONE
PC
ASSISTANCE FOR CHARITABLE PURPOSE
10,000
Total
.................................
3a
428,000
b
Approved for future payment
Total
.................................
3b
0
Form
990-PF
(2022)
Page 12
Form 990-PF (2022)
Page
12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated.
Unrelated business income
Excluded by section 512, 513, or 514
(e)
Related or exempt
function income
(See instructions.)
1
Program service revenue:
(a)
Business code
(b)
Amount
(c)
Exclusion code
(d)
Amount
a
b
c
d
e
f
g
Fees and contracts from government agencies
2
Membership dues and assessments
....
3
Interest on savings and temporary cash
investments
...........
4
Dividends and interest from securities
....
14
322,962
5
Net rental income or (loss) from real estate:
a
Debt-financed property
......
b
Not debt-financed property
.....
6
Net rental income or (loss) from personal property
7
Other investment income
.....
14
69,024
8
Gain or (loss) from sales of assets other than
inventory
............
523000
18
-907,046
9
Net income or (loss) from special events:
10
Gross profit or (loss) from sales of inventory
11
Other revenue:
a
b
c
d
e
12
Subtotal. Add columns (b), (d), and (e)
..
0
-515,060
0
13
Total.
Add line 12, columns (b), (d), and (e)
..................
13
-515,060
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form
990-PF
(2022)
Page 13
Form 990-PF (2022)
Page
13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1)
Cash
...................................
1a(1)
No
(2)
Other assets
.................................
1a(2)
No
b
Other transactions:
(1)
Sales of assets to a noncharitable exempt organization
....................
1b(1)
No
(2)
Purchases of assets from a noncharitable exempt organization
..................
1b(2)
No
(3)
Rental of facilities, equipment, or other assets
.......................
1b(3)
No
(4)
Reimbursement arrangements
...........................
1b(4)
No
(5)
Loans or loan guarantees
.............................
1b(5)
No
(6)
Performance of services or membership or fundraising solicitations
................
1b(6)
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees
..............
1c
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column
(b)
should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column
(d)
the value of the goods, other assets, or services received.
(a)
Line No.
(b)
Amount involved
(c)
Name of noncharitable exempt organization
(d)
Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527?
...........
Yes
No
b
If "Yes," complete the following schedule.
(a)
Name of organization
(b)
Type of organization
(c)
Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
2023-05-25
May the IRS discuss this return
with the preparer shown below?
See instructions.
Yes
No
Signature of officer or trustee
Date
Title
Paid Preparer Use Only
Print/Type preparer's name
ALYCIA SOLECKI
Preparer's Signature
Date
Check if self-
employed
PTIN
P01272637
Firm's name
GRANT THORNTON LLP
Firm's EIN
36-6055558
Firm's address
2001 MARKET STREET SUITE 700
PHILADELPHIA
,
PA
19103
Phone no.
(215) 561-4200
Form
990-PF
(2022)
Additional Data
Software ID:
Software Version:
Form 990PF - Special Condition Description:
Special Condition Description