efile Public Visual Render
ObjectId: 202341319349102444 - Submission: 2023-05-11
TIN: 04-6626994
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
LIBRA FOUNDATION
Number and street (or P.O. box number if mail is not delivered to street address)
THREE CANAL PLAZA PO BOX 17516
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PORTLAND
,
ME
041128516
A Employer identification number
04-6626994
B
Telephone number (see instructions)
(207) 879-6280
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)
$
139,658,427
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
8,471
8,471
4
Dividends and interest from securities
...
565,100
565,100
5a
Gross rents
............
b
Net rental income or (loss)
6a
Net gain or (loss) from sale of assets not on line 10
-2,003,618
b
Gross sales price for all assets on line 6a
70,124,459
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
-1,232,611
-1,349,578
12
Total.
Add lines 1 through 11
........
-2,662,658
-776,007
13
Compensation of officers, directors, trustees, etc.
1,439,971
630,013
809,976
14
Other employee salaries and wages
......
335,031
62,501
272,512
15
Pension plans, employee benefits
.......
399,883
144,632
248,011
16a
Legal fees (attach schedule)
.........
List of Attached Documents:
// Content
360
252
108
b
Accounting fees (attach schedule)
.......
List of Attached Documents:
// Content
23,570
16,499
7,071
c
Other professional fees (attach schedule)
....
List of Attached Documents:
// Content
211,550
211,550
0
17
Interest
...............
18
Taxes (attach schedule) (see instructions)
...
List of Attached Documents:
// Content
89,984
32,273
57,681
19
Depreciation (attach schedule) and depletion
...
List of Attached Documents:
// Content
61,828
18,548
20
Occupancy
..............
133,505
40,052
92,837
21
Travel, conferences, and meetings
.......
42,500
17,000
25,895
22
Printing and publications
..........
23
Other expenses (attach schedule)
.......
List of Attached Documents:
// Content
157,424
52,597
102,091
24
Total operating and administrative expenses.
Add lines 13 through 23
..........
2,895,606
1,225,917
1,616,182
25
Contributions, gifts, grants paid
.......
6,168,580
6,318,580
26
Total expenses and disbursements.
Add lines 24 and 25
9,064,186
1,225,917
7,934,762
27
Subtract line 26 from line 12:
a
Excess of revenue over expenses and disbursements
-11,726,844
b
Net investment income
(if negative, enter -0-)
0
c
Adjusted net income
(if negative, enter -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
.............
484,784
638,437
638,437
2
Savings and temporary cash investments
.........
1,696,124
1,545,446
1,545,446
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
..........
11,893
9,155
9,155
10a
Investments—U.S. and state government obligations (attach schedule)
3,727,408
List of Attached Documents:
// Content
7,847,121
7,847,121
b
Investments—corporate stock (attach schedule)
.......
43,266,553
List of Attached Documents:
// Content
23,471,176
23,471,176
c
Investments—corporate bonds (attach schedule)
.......
3,791,542
List of Attached Documents:
// Content
3,617,182
3,617,182
11
Investments—land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
12
Investments—mortgage loans
.............
13
Investments—other (attach schedule)
..........
99,853,995
List of Attached Documents:
// Content
91,422,714
56,087,390
14
Land, buildings, and equipment: basis
678,138
Less: accumulated depreciation (attach schedule)
338,831
288,825
List of Attached Documents:
// Content
339,307
339,307
15
Other assets (describe
)
List of Attached Documents:
// Content
41,394,591
List of Attached Documents:
// Content
46,103,213
List of Attached Documents:
// Content
46,103,213
16
Total assets
(to be completed by all filers—see the
instructions. Also, see page 1, item I)
194,515,715
174,993,751
139,658,427
17
Accounts payable and accrued expenses
..........
175,159
183,841
18
Grants payable
.................
350,000
200,000
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
)
List of Attached Documents:
// Content
113,500
List of Attached Documents:
// Content
8,600
23
Total liabilities
(add lines 17 through 22)
.........
638,659
392,441
Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24
Net assets without donor restrictions
...........
193,877,056
174,601,310
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)
.....
193,877,056
174,601,310
30
Total liabilities and net assets/fund balances
(see instructions)
.
194,515,715
174,993,751
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
193,877,056
2
Enter amount from Part I, line 27a
.....................
2
-11,726,844
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3
..........................
4
182,150,212
5
Decreases not included in line 2 (itemize)
List of Attached Documents:
// Content
5
7,548,902
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29
.
6
174,601,310
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
VARIOUS SECURITIES - CAPITAL GUARDIAN
P
2022-12-31
b
VARIOUS SECURITIES - HARPSWELL CAPITAL ADVISORS
P
2022-12-31
c
VARIOUS SECURITIES - CAPITAL GUARDIAN II
P
2022-12-31
d
VARIOUS SECURITIES - LONG PATH
P
2022-12-31
e
(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
27,600,352
27,696,897
-96,545
b
38,769,000
40,767,581
-1,998,581
c
3,526,844
3,515,624
11,220
d
228,263
147,975
80,288
e
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
-96,545
b
-1,998,581
c
11,220
d
80,288
e
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
-2,003,618
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
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
0
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
0
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
0
6
Credits/Payments:
a
2022 estimated tax payments and 2021 overpayment credited to 2022
6a
0
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
0
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
0
10
Overpayment.
If line 7 is more than the total of lines 5 and 8, enter the
amount overpaid
...
10
11
Enter the amount of line 10 to be:
Credited to 2023 estimated tax
Refunded
11
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
No
b
If "Yes," has it filed a tax return on
Form 990-T
for this year?
...................
4b
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)
ME
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.LIBRAFOUNDATION.ORG
14
The books are in care of
JERE G MICHELSON
Telephone no.
(207) 879-6280
Located at
THREE CANAL PLAZA PO BOX 17516
PORTLAND
ME
ZIP+4
04112
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
Yes
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
No
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
OWEN W WELLS
TRUSTEE
30.00
99,934
44,515
0
THREE CANAL PLAZA PO BOX 17516
PORTLAND
,
ME
04112
CRAIG N DENEKAS
CHAIRMAN/CEO
50.00
399,945
71,203
0
THREE CANAL PLAZA PO BOX 17516
PORTLAND
,
ME
04112
JERE G MICHELSON
PRESIDENT/COO/CFO
50.00
389,952
56,209
0
THREE CANAL PLAZA PO BOX 17516
PORTLAND
,
ME
04112
ERIK HAYWARD
EXECUTIVE VICE PRESIDENT
50.00
275,028
55,240
0
THREE CANAL PLAZA PO BOX 17516
PORTLAND
,
ME
04112
PENDRED E NOYCE
TRUSTEE
10.00
0
0
0
THREE CANAL PLAZA PO BOX 17516
PORTLAND
,
ME
04112
WILLIAM J RYAN
TRUSTEE
10.00
0
0
0
THREE CANAL PLAZA PO BOX 17516
PORTLAND
,
ME
04112
PAUL PIETROPAOLI
EXECUTIVE VICE PRESIDENT
50.00
275,111
70,311
0
THREE CANAL PLAZA PO BOX 17516
PORTLAND
,
ME
04112
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
KATHI GIEDRIS
ADMINISTRATIVE ASSIS
40.00
125,001
40,889
0
THREE CANAL PLAZA PO BOX 17516
PORTLAND
,
ME
04112
JENNIFER COOK
ACCOUNTING ASSISTANT
40.00
125,001
39,856
0
THREE CANAL PLAZA PO BOX 17516
PORTLAND
,
ME
04112
MELISSA LEE
ADMINISTRATIVE ASSIS
40.00
85,028
21,661
0
THREE CANAL PLAZA PO BOX 17516
PORTLAND
,
ME
04112
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
HARPSWELL CAPITAL ADVISORS
INVESTMENT ADVISORY SERVICES
121,334
41 CAMPUS DRIVE SUITE 203
NEW GLOUCESTER
,
ME
04260
CAPITAL GUARDIAN
INVESTMENT ADVISORY SERVICES
72,066
333 S HOPE STREET 52ND FLOOR
LOS ANGELES
,
CA
90071
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
CAPITAL CONTRIBUTIONS MADE TO PINELAND FARMS DAIRY COMPANY, INC. FOR BUSINESS EXPANSION PURPOSES TO PROVIDE THE OPPORTUNITY TO OFFER MORE JOBS IN THE COMMUNITY.
2,231,667
2
All other program-related investments. See instructions.
3
Total.
Add lines 1 through 3
.........................
2,231,667
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
47,491,190
b
Average of monthly cash balances
.......................
1b
561,611
c
Fair market value of all other assets (see instructions)
................
1c
95,946,456
d
Total
(add lines 1a, b, and c)
.........................
1d
143,999,257
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
143,999,257
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions)
.............................
4
2,159,989
5
Net value of noncharitable-use assets.
Subtract line 4 from line 3.
............
5
141,839,268
6
Minimum investment return.
Enter 5% (0.05) of line 5
................
6
7,091,963
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
7,091,963
2a
Tax on investment income for 2022 from Part V, line 5
.......
2a
b
Income tax for 2022. (This does not include the tax from Part V.)
...
2b
c
Add lines 2a and 2b
............................
2c
0
3
Distributable amount before adjustments. Subtract line 2c from line 1
............
3
7,091,963
4
Recoveries of amounts treated as qualifying distributions
................
4
0
5
Add lines 3 and 4
............................
5
7,091,963
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
7,091,963
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
7,934,762
b
Program-related investments—total from Part VIII-B
..................
1b
2,231,667
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes
...............................
2
112,310
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
10,278,739
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
7,091,963
2
Undistributed income, if any, as of the end of 2022:
a
Enter amount for 2021 only
.......
0
b
Total for prior years:
20
,
20
,
20
0
3
Excess distributions carryover, if any, to 2022:
a
From 2017
......
6,109,492
b
From 2018
......
12,669,576
c
From 2019
......
4,569,232
d
From 2020
......
3,252,806
e
From 2021
......
2,315,736
f
Total
of lines 3a through e
........
28,916,842
4
Qualifying distributions for 2022 from Part
XI, line 4:
$
10,278,739
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
.....
7,091,963
e
Remaining amount distributed out of corpus
3,186,776
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
32,103,618
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)
...
6,109,492
9
Excess distributions carryover to 2023.
Subtract lines 7 and 8 from line 6a
......
25,994,126
10
Analysis of line 9:
a
Excess from 2018
....
12,669,576
b
Excess from 2019
....
4,569,232
c
Excess from 2020
....
3,252,806
d
Excess from 2021
....
2,315,736
e
Excess from 2022
....
3,186,776
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 e-mail address of the person to whom applications should be addressed:
CRAIG N DENEKAS
THREE CANAL PLAZA PO BOX 17516
PORTLAND
,
ME
04112
(207) 879-6280
b
The form in which applications should be submitted and information and materials they should include:
THE FOUNDATION REQUIRES THAT A FORMAL APPLICATION BE SUBMITTED INCLUDING ORGANIZATION NAME, ADDRESS, CHARITABLE PROJECT, AMOUNT REQUESTED, PURPOSE OF PROJECT, GEOGRAPHIC AREA AND NUMBER OF PEOPLE TO BE SERVED BY PROJECT.
c
Any submission deadlines:
NONE
d
Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
APPLICANT MUST BE A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) AND NOT A PRIVATE FOUNDATION UNDER SECTION 509(A). THE FOUNDATION LIMITS ITS GRANTS TO CHARITABLE ORGANIZATIONS, ACTIVITIES, OPERATIONS OR PURPOSES WHICH ONLY TAKE PLACE WITHIN THE STATE OF MAINE.
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
ABBE MUSEUM
PO BOX 286
BAR HARBOR
,
ME
04609
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
AMERICAN HEART ASSOCIATION
51 US ROUTE 1 SUITE M
SCARBOROUGH
,
ME
04074
NONE
PUBLIC
GENERAL OPERATING SUPPORT
2,750
AMERICAN RED CROSS OF MAINE
2401 CONGRESS STREET
PORTLAND
,
ME
04102
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
AMISTAD
103 INDIA STREET
PORTLAND
,
ME
04101
NONE
PUBLIC
WORKFORCE NAVIGATION PROGRAM
10,000
AUTISM SOCIETY OF MAINE
72B MAIN STREET
WINTHROP
,
ME
04364
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
BANGOR SYMPHONY ORCHESTRA
PO BOX 1441
BANGOR
,
ME
044021441
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
BAY CHAMBER CONCERTS
PO BOX 599
ROCKPORT
,
ME
04856
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
BEST BUDDIES IN MAINE
PO BOX 573
CUMBERLAND
,
ME
04021
NONE
PUBLIC
CITIZENS FRIENDSHIP PROGRAM
10,000
BIGELOW LABORATORY FOR OCEAN SCIENCES
60 BIGELOW DRIVE
EAST BOOTHBAY
,
ME
04544
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
BOYS & GIRLS CLUBS OF SOUTHERN MAINE
PO BOX 7830
PORTLAND
,
ME
04112
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
BRICK STORE MUSEUM
117 MAIN STREET
KENNEBUNK
,
ME
04043
NONE
PUBLIC
SPOFFORD ADVANCEMENT FUND
5,000
CAMP ANGELS INC
PO BOX 89
WATERFORD
,
ME
04088
NONE
PUBLIC
DIABETIC CAMPER SCHOLARSHIPS
5,000
CENTER FOR GRIEVING CHILDREN
555 FOREST AVENUE
PORTLAND
,
ME
04101
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
CENTER FOR MAINE CONTEMPORARY ART
PO BOX 1767
ROCKLAND
,
ME
04841
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
CHILDRENS MUSEUM & THEATRE OF MAINE
PO BOX 4041
PORTLAND
,
ME
04101
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
CITY OF PRESQUE ISLE FBO NORDIC HERITAGE OUTDOOR CENTER
24 CHAPMAN ROAD
PRESQUE ISLE
,
ME
04769
NONE
PUBLIC
GENERAL OPERATING SUPPORT
50,000
COASTAL MAINE BOTANICAL GARDENS
PO BOX 234
BOOTHBAY
,
ME
04537
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
COMMUNITY DENTAL
190 PARK AVENUE
PORTLAND
,
ME
04102
NONE
PUBLIC
GENERAL OPERATING SUPPORT
10,000
COMMUNITY DENTAL
190 PARK AVENUE
PORTLAND
,
ME
04102
NONE
PUBLIC
GENERAL OPERATING SUPPORT
106,373
CROMWELL CENTER FOR DISABILITIES AWARENESS
97A EXCHANGE STREET SUITE 205
PORTLAND
,
ME
04101
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
CROSS INSURANCE ARENA
ONE CIVIC CENTER SQUARE
PORTLAND
,
ME
04101
NONE
PUBLIC
COMMUNITY USE OF CIVIC CENTER EVENTS
75,000
DOWNEAST COMMUNITY PARTNERS
248 BUCKSPORT ROAD
ELLSWORTH
,
ME
04605
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
FAMILY PLANNING ASSOCIATION OF MAINE INC DBA MAINE FAMILY PLANNING
PO BOX 587
AUGUSTA
,
ME
043320587
NONE
PUBLIC
REPRODUCTIVE AND GENDER-AFFIRMING HEALTHCARE
10,000
FARNSWORTH ART MUSEUM
16 MUSEUM STREET
ROCKLAND
,
ME
04841
NONE
PUBLIC
GENERAL OPERATING SUPPORT
20,000
FOREST SOCIETY OF MAINE
115 FRANKLIN STREET 3RD FLOOR
BANGOR
,
ME
04401
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
FORT KENT OUTDOOR CENTER
PO BOX 541
FORT KENT
,
ME
04743
NONE
PUBLIC
GENERAL OPERATING SUPPORT
50,000
FOXCROFT ACADEMY
975 WEST MAIN STREET
DOVERFOXCROFT
,
ME
04426
NONE
PUBLIC
PISCATAQUIS COUNTY ICE ARENA OPERATING EXPENSES
362,998
FURNITURE FRIENDS
PO BOX 631
WESTBROOK
,
ME
04098
NONE
PUBLIC
WAREHOUSE ASSISTANT
10,000
GOOD SHEPHERD FOOD BANK
PO BOX 1807
AUBURN
,
ME
04211
NONE
PUBLIC
CAMPAIGN TO END HUNGER
10,000
GOOD SHEPHERD FOOD BANK
PO BOX 1807
AUBURN
,
ME
042111807
NONE
PUBLIC
GENERAL OPERATING SUPPORT
10,000
GREATER PORTLAND IMMIGRANT WELCOME CENTER
24 PREBLE STREET 4TH FLOOR
PORTLAND
,
ME
04101
NONE
PUBLIC
MENTOR YOUNG IMMIGRANT WOMEN ENTREPRENEURS
5,000
GULF OF MAINE RESEARCH INSTITUTE
350 COMMERCIAL STREET
PORTLAND
,
ME
04101
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
HOME INC
PO BOX 10
ORLAND
,
ME
04472
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
IRIS NETWORK
189 PARK AVENUE
PORTLAND
,
ME
04102
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
ISLAND INSTITUTE
PO BOX 648
ROCKLAND
,
ME
048410648
NONE
PUBLIC
GENERAL OPERATING SUPPORT
10,000
LAKES ENVIRONMENTAL ASSOCIATION
230 MAIN STREET
BRIDGTON
,
ME
04009
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
LEGAL SERVICES FOR THE ELDERLY
5 WABON STREET
AUGUSTA
,
ME
04330
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
LOCKER PROJECT
PO BOX 3134
PORTLAND
,
ME
04104
NONE
PUBLIC
FRESH PRODUCE FOR LOW-INCOME FAMILIES WITH CHILDREN
5,000
MAINE ADAPTIVE SPORTS & RECREATION
8 SUNDANCE LANE
NEWRY
,
ME
04261
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE ASSOCIATION OF NONPROFITS
565 CONGRESS STREET SUITE 301
PORTLAND
,
ME
04101
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE ASSOCIATION OF NONPROFITS
565 CONGRESS STREET SUITE 301
PORTLAND
,
ME
04101
NONE
PUBLIC
CULTURAL ALLIANCE OF MAINE (CAM)
5,000
MAINE AUDUBON
20 GILSLAND FARM ROAD
FALMOUTH
,
ME
04105
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE CHILDREN'S HOME FOR LITTLE WANDERERS
93 SILVER STREET
WATERVILLE
,
ME
049015923
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE COAST HERITAGE TRUST
1 BOWDOIN MILL ISLAND SUITE 201
TOPSHAM
,
ME
04086
NONE
PUBLIC
PICTURE ROCKS PROJECT
25,000
MAINE DISCOVERY MUSEUM
74 MAIN STREET
BANGOR
,
ME
04401
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE FARMLAND TRUST
97 MAIN STREET
BELFAST
,
ME
04915
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE HISTORICAL SOCIETY
489 CONGRESS STREET
PORTLAND
,
ME
041013498
NONE
PUBLIC
GENERAL OPERATING SUPPORT
10,000
MAINE IRISH HERITAGE CENTER
PO BOX 7588
PORTLAND
,
ME
041127588
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE MARITIME MUSEUM
243 WASHINGTON STREET
BATH
,
ME
04530
NONE
PUBLIC
GENERAL OPERATING SUPPORT
10,000
MAINE MEDIA WORKSHOPS COLLEGE
PO BOX 200
ROCKPORT
,
ME
04856
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE ORGANIC FARMERS AND GARDENERS ASSOCIATION
PO BOX 170
UNITY
,
ME
04988
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE PUBLIC BROADCASTING NETWORK
1450 LISBON STREET
LEWISTON
,
ME
042403595
NONE
PUBLIC
GENERAL OPERATING SUPPORT
10,000
MAINE SPECIAL EDUCATIONMENTAL HEALTH COLLABORATIVE
41 PINELAND DRIVE SUITE 200
NEW GLOUCESTER
,
ME
04260
NONE
PUBLIC
MATERIALS FOR TECHNOLOGY INITIATIVES
24,000
MAINE STATE BALLET
348 US ROUTE 1
FALMOUTH
,
ME
04105
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE STATE MUSEUM
83 STATE HOUSE STATION
AUGUSTA
,
ME
043330083
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE STATE MUSIC THEATRE
22 ELM STREET
BRUNSWICK
,
ME
04011
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINE STATE SOCIETY FOR THE PROTECTION OF ANIMALS
PO BOX 10
SOUTH WINDHAM
,
ME
040820010
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MAINEHEALTH
110 FREE STREET
PORTLAND
,
ME
041013908
NONE
PUBLIC
RAISING READERS PROGRAM
1,137,959
MAINEHEALTH DBA PEN BAY WALDO HEALTHCARE FOUNDATION
22 WHITE STREET
ROCKLAND
,
ME
04841
NONE
PUBLIC
CONSTRUCT NEW HEALTH CENTER
50,000
MONHEGAN HISTORICAL & CULTURAL MUSEUM ASSOCIATION
1 LIGHTHOUSE HILL
MONHEGAN
,
ME
04852
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
MOOSEHEAD MARINE MUSEUM
PO BOX 1151
GREENVILLE
,
ME
04441
NONE
PUBLIC
STEAMBOAT KATAHDIN PRESERVATION
10,000
NORTHERN FOREST CENTER - MAINE
C/O NORTHERN FOREST CENTER18 NORTH
MAIN STREET SUITE 204
CONCORD
,
NH
033014926
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
NORTHERN LIGHT ACADIA HOSPITAL
PO BOX 422
BANGOR
,
ME
044020422
NONE
PUBLIC
ACADIA FOR ALL
20,000
OGUNQUIT MUSEUM OF AMERICAN ART
PO BOX 815
OGUNQUIT
,
ME
03907
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
OGUNQUIT PLAYHOUSE
PO BOX 915
OGUNQUIT
,
ME
03907
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
PENOBSCOT MARINE MUSEUM
PO BOX 498
SEARSPORT
,
ME
049740498
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
PENOBSCOT THEATRE COMPANY
131 MAIN STREET
BANGOR
,
ME
04401
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
PENQUIS COMMUNITY ACTION PROGRAM INC
PO BOX 1162
BANGOR
,
ME
044021162
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
PEREGRINE CORPORATION DBA STRIVE
39 DARLING AVENUE
SOUTH PORTLAND
,
ME
04106
NONE
PUBLIC
GENERAL OPERATING SUPPORT
10,000
PINELAND FARMS INC
32 FARM VIEW DRIVE
NEW GLOUCESTER
,
ME
04260
NONE
PUBLIC
DEVELOP, OPERATE AND STAFF PINELAND FARMS, INC. FOR AGRICULTURAL PROMOTION, EDUCATION AND RESEARCH IN MAINE
3,925,000
PORTLAND BALLET
517 FOREST AVENUE SUITE 2
PORTLAND
,
ME
04101
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
PORTLAND CONSERVATORY OF MUSIC
28 NEAL STREET
PORTLAND
,
ME
04102
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
PORTLAND MUSEUM OF ART
SEVEN CONGRESS SQUARE
PORTLAND
,
ME
04101
NONE
PUBLIC
GENERAL OPERATING SUPPORT
20,000
PORTLAND OVATIONS
POBOX 17573
PORTLAND
,
ME
041128573
NONE
PUBLIC
GENERAL OPERATING SUPPORT
5,000
PORTLAND STAGE COMPANY
PO BOX 1458
PORTLAND
,
ME
04104
NONE
PUBLIC
GENERAL OPERATING SUPPORT
20,000
PORTLAND SYMPHONY ORCHESTRA
50 MONUMENT SQUARE 2ND FLOOR
PORTLAND
,
ME
04101
NONE
PUBLIC
GENERAL OPERATING SUPPORT
20,000
RIDING TO THE TOP
14 LILAC DRIVE
WINDHAM
,
ME
04062
NONE
PUBLIC
STABLE FRIENDS PROGRAM
7,500
SALVATION ARMY - NORTHERN NEW ENGLAND DIVISION
PO BOX 3647
PORTLAND
,
ME
04104
NONE
PUBLIC
GENERAL OPERATING SUPPORT
10,000
SMALL WOODLAND OWNERS ASSOCIATION OF MAINE DBA MAINE WOODLAND OWNERS
PO BOX 836
AUGUSTA
,
ME
043320836
NONE
PUBLIC
ASSIST NOVICE WOODLAND OWNERS
2,000
UNIVERSITY OF SOUTHERN MAINE FOUNDATION
PO BOX 9300
PORTLAND
,
ME
041049300
NONE
PUBLIC
PROMISE SCHOLARSHIP PROGRAM
25,000
Total
.................................
3a
6,318,580
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
...........
14
8,471
4
Dividends and interest from securities
....
14
565,100
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
2,880,858
8
Gain or (loss) from sales of assets other than
inventory
............
18
-2,003,618
9
Net income or (loss) from special events:
10
Gross profit or (loss) from sales of inventory
11
Other revenue:
a
NET EARNINGS OF TITLE-HOLDING CORPORATION - OCTOBER CORPORATION
16
-1,812,729
b
NET EARNINGS OF TITLE-HOLDING CORPORATION - AUGUST CORPORATION
16
-2,300,740
c
d
e
12
Subtotal. Add columns (b), (d), and (e)
..
0
-2,662,658
0
13
Total.
Add line 12, columns (b), (d), and (e)
..................
13
-2,662,658
(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)
Yes
(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)
Yes
(5)
Loans or loan guarantees
.............................
1b(5)
No
(6)
Performance of services or membership or fundraising solicitations
................
1b(6)
Yes
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
1b(6)
0
AUGUST CORPORATION
SHARED STAFFING FOR PERFORMANCE OF SERVICES
1a(1)
580,000
AUGUST CORPORATION
TRANSFERRED FUNDS TO PAY FOR THE PURCHASE OF REAL ESTATE AND FOR OPERATIONS.
1b(6)
0
OCTOBER CORPORATION
SHARED STAFFING FOR PERFORMANCE OF SERVICES
1a(1)
1,987,000
OCTOBER CORPORATION
TRANSFERRED FUNDS TO PAY FOR THE PURCHASE OF REAL ESTATE AND FOR OPERATIONS.
1b(4)
6,326,925
OCTOBER CORPORATION
EXPENSES REIMBURSED FROM OCTOBER CORPORATION TO LIBRA FOUNDATION
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
OCTOBER CORPORATION
501(C)(2)
SOLE MEMBER
AUGUST CORPORATION
501(C)(2)
SOLE MEMBER
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.
2023-05-11
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
KIRK PURVIS
Preparer's Signature
Date
2023-05-11
Check if self-
employed
PTIN
P00439837
Firm's name
MARCUM LLP
Firm's EIN
11-1986323
Firm's address
1 CANAL PLAZA 4TH FLOOR
PORTLAND
,
ME
04101
Phone no.
(207) 352-7600
Form
990-PF
(2022)
Additional Data
Software ID:
Software Version:
Form 990PF - Special Condition Description:
Special Condition Description