Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 07-01-2018 , and ending 06-30-2019
Name of foundation
THE KARSH FAMILY FOUNDATION
 
% THE KARSH FAMILY FOUNDATION
Number and street (or P.O. box number if mail is not delivered to street address)9595 WILSHIRE BLVD SUITE 1010
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BEVERLY HILLS, CA90212
A Employer identification number

13-7147287
B Telephone number (see instructions)

(213) 830-6402
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$235,903,279J Accounting method:
 
(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)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 43,896,310
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 2,266,594 987,322  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 9,935,642
b Gross sales price for all assets on line 6a 130,821,207
7 Capital gain net income (from Part IV, line 2)... 65,111,003
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)....... 0 1,348,748  
12 Total. Add lines 1 through 11........ 56,098,546 67,447,073  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... 19,055 0 0 6,985
b Accounting fees (attach schedule)....... 147,380 73,690 0 73,690
c Other professional fees (attach schedule)....        
17 Interest............... 5,095 5,095    
18 Taxes (attach schedule) (see instructions)... 980,413 1,758   310
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 8,768     8,768
22 Printing and publications..........        
23 Other expenses (attach schedule)....... 704 658   46
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,161,415 81,201 0 89,799
25 Contributions, gifts, grants paid....... 24,164,133 24,164,133
26 Total expenses and disbursements. Add lines 24 and 25 25,325,548 81,201 0 24,253,932
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 30,772,998
b Net investment income (if negative, enter -0-) 67,365,872
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
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
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 22,572,541 56,835,589 56,835,589
3 Accounts receivable bullet0
Less: allowance for doubtful accounts bullet   7,478 0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
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) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 1,189,232 971,220 971,220
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 78,201,971 68,914,975 68,957,975
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 92,309,860 107,266,193 109,138,495
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 194,281,082 233,987,977 235,903,279
Liabilities 17 Accounts payable and accrued expenses.......... 185 0
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 bullet) 1,512,449 1,217,781
23 Total liabilities (add lines 17 through 22)......... 1,512,634 1,217,781
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 192,768,448 232,770,196
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 192,768,448 232,770,196
31 Total liabilities and net assets/fund balances (see instructions). 194,281,082 233,987,977
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 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
192,768,448
2
Enter amount from Part I, line 27a .....................
2
30,772,998
3
Other increases not included in line 2 (itemize) bullet
3
10,591,279
4
Add lines 1, 2, and 3 ..........................
4
234,132,725
5
Decreases not included in line 2 (itemize) bullet
5
1,362,529
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
232,770,196
Form 990-PF (2018)
Form 990-PF (2018)
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 725,000 UNITS OAKTREE CAPITAL GROUP, LLC D    
b 650,000 UNITS OAKTREE CAPITAL GROUP, LLC D    
c 500 SHARES ALPHABET INC. CL A D 2009-03-06 2018-07-24
d 500 SHARES ALPHABET INC. CL C D 2009-03-06 2018-07-24
e 50,000 SHARES AMERICAN INTL GROUP INC. D 2013-05-30 2018-12-21
350,000 SHARES DIGI INTERNATIONAL, INC. D    
13,909 SHARES FACEBOOK CL A D 2012-01-03 2018-08-14
628,052 SHARES INSEEGO CORP. D    
44,051 SHARES PPDAI GROUP, INC. D 2012-09-14 2018-09-28
10,000 SHARES TOYOTA MTR D   2019-02-01
PUBLICLY TRADED SECURITIES P    
SECTION 1256 - LONG-TERM CAPITAL GAIN P    
SECTION 1256 - SHORT-TERM CAPITAL GAIN P    
OCM MEZZANINE FUND, L.P. P    
OCM MEZZANINE FUND, L.P. P    
CAPITAL GAIN DIVIDENDS 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 34,923,707   9,071,873 25,851,834
b 31,773,705   8,188,964 23,584,741
c 632,681   75,733 556,948
d 628,824   75,284 553,540
e 1,933,848   2,321,080 -387,232
4,411,447   3,186,567 1,224,880
2,496,927   11,404 2,485,523
1,969,507   936,710 1,032,797
238,397   3,524 234,873
1,218,358   735,479 482,879
44,145,092   41,071,683 3,073,409
105,376     105,376
70,250     70,250
    31,903 -31,903
25,005   0 25,005
      38
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       25,851,834
b       23,584,741
c       556,948
d       553,540
e       -387,232
      1,224,880
      2,485,523
      1,032,797
      234,873
      482,879
      3,073,409
      105,376
      70,250
      -31,903
      25,005
       
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 65,111,003
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 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 20,224,144 179,631,731 0.112587
2016 16,630,528 149,287,712 0.111399
2015 16,650,713 139,628,851 0.11925
2014 19,311,414 142,739,942 0.135291
2013 17,710,596 122,138,439 0.145004
2
Total of line 1, column (d) .....................
2
0.623531
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.124706
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
213,741,583
5
Multiply line 4 by line 3......................
5
26,654,858
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
673,659
7
Add lines 5 and 6........................
7
27,328,517
8
Enter qualifying distributions from Part XII, line 4,.............
8
24,253,932
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2018)
Form 990-PF (2018)
Page 4
Part VI
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 Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 1,347,317
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% 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  
3 Add lines 1 and 2........................... 3 1,347,317
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,347,317
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 429,255
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 1,350,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,779,255
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 431,938
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet431,938 RefundedBullet 11  
Part VII-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 Instructions
for 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. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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 XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCA
    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 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    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 (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-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 addressbulletN/A
    14
    The books are in care ofbulletTHE KARSH FAMILY FOUNDATION Telephone no.bullet (213) 830-6402

    Located atbullet9595 WILSHIRE BLVD SUITE 1010BEVERLY HILLSCA ZIP+4bullet90212
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    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 bullet  
    Part VII-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?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (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)?...............
    (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.).......
    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
    ........bullet
    c
    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 2018?.............
    1c
     
    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 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 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.
    bullet20, 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?......................
    b
    If "Yes," did it have excess business holdings in 2018 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 2018.)..................
    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 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-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))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    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
     
    No
    .........bullet
    c
    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?..........
    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?.....................
    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?
    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? .................
    Part VIII
    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
    BRUCE A KARSH TRUSTEE
    5.0     		0 0 0
    9595 WILSHIRE BLVD SUITE 1010
    BEVERLY HILLS,CA90212
    MARTHA L KARSH TRUSTEE
    5.0     		0 0 0
    9595 WILSHIRE BLVD SUITE 1010
    BEVERLY HILLS,CA90212
    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
     
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    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
    DREYER ROBBINS & ASSOCIATES ACCOUNTING 89,030
    355 S GRAND AVENUE SUITE 1710
    LOS ANGELES,CA90071
    HCVT LLP ACCOUNTING 58,350
    11444 W Olympic Blvd 11th floor
    LOS ANGELES,CA90064
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-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 IX-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 NOT APPLICABLE  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    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
    70,838,228
    b
    Average of monthly cash balances.......................
    1b
    27,063,808
    c
    Fair market value of all other assets (see instructions)................
    1c
    119,094,495
    d
    Total (add lines 1a, b, and c).........................
    1d
    216,996,531
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    216,996,531
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    3,254,948
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    213,741,583
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    10,687,079
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    10,687,079
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    1,347,317
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
    469,402
    c
    Add lines 2a and 2b............................
    2c
    1,816,719
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    8,870,360
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    8,870,360
    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 XIII, line 1 ...
    7
    8,870,360
    Part XII
    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
    24,253,932
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    24,253,932
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    24,253,932
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 8,870,360
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:2016, 2015, 2014 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 0
    b From 2014...... 0
    c From 2015...... 8,817,838
    d From 2016...... 9,497,801
    e From 2017...... 10,645,511
    fTotal of lines 3a through e........ 28,961,150
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 24,253,932
    a Applied to 2017, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		14,935,160
    d Applied to 2018 distributable amount..... 8,870,360
    e Remaining amount distributed out of corpus 448,412
    5 Excess distributions carryover applied to 2018.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 44,344,722
    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......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		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) .......     		43,896,310
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		448,412
    10 Analysis of line 9:
    a Excess from 2014.... 0
    b Excess from 2015.... 0
    c Excess from 2016.... 0
    d Excess from 2017.... 0
    e Excess from 2018.... 448,412
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-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 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    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 X, 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 XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList 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).)
    BRUCE A KARSH
    MARTHA L KARSH
    bList 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.
    BRUCE A KARSH
    MARTHA L KARSH
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    Part XV
    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)
    aPaid during the year
    KIPP NYC PUBLIC CHARTER SCHOOLS
    1501 BROADWAY 10TH FLOOR
    NEW YORK,NY10036     		NONE SO II EDUCATION 1,000
    PRINCE OF WALES FOUNDATION
    888 17TH STREET NW SUITE 201
    WASHINGTON,DC20006     		NONE PC PHILANTHROPIC ACTIVITY 500,000
    FRIENDS OF ISRAELI DEFENSE FUND
    60 EAST 42ND STREET
    NEW YORK,NY10165     		NONE PC PHILANTHROPIC ACTIVITY 25,000
    RETT SYNDROME RESEARCH TRUST INC
    67 UNDER CLIFF ROAD
    TRUMBULL,CT06611     		NONE PC HEALTH 2,500
    LIBRARY FOUNDATION OF LOS ANGELES
    630 W 5TH STREET
    LOS ANGELES,CA90071     		NONE PC EDUCATION 400
    NEW VENTURE FUND
    1201 CONNECTICUT AVENUE NW SUITE 3
    WASHINGTON,DC20036     		NONE PC PHILANTHROPIC ACTIVITY 100,000
    HAWAI'I COMMUNITY FOUNDATION
    827 FORT STREET MALL
    HONOLULU,HI96813     		NONE PC KUKIO COMMUNITY FUND 5,000
    PAHARA INSTITUTE
    340 SOUTH LEMON AVENUE SUITE 2927
    WALNUT,CA91789     		NONE PC EDUCATION 125,000
    LOS ANGELES MUSEUM OF THE HOLOCAUST
    100 THE GROVE DRIVE
    LOS ANGELES,CA90036     		NONE PC ARTS/CULTURE/HUMANITIES 5,000
    INTERNATIONAL MEDICAL CORPS
    12400 WILSHIRE BLVD SUITE 1500
    LOS ANGELES,CA90025     		NONE PC HEALTH 10,000
    OUR HOUSE GRIEF SUPPORT CENTER
    1663 SAWTELLE BOULEVARD SUITE 300
    LOS ANGELES,CA90025     		NONE PC PHILANTHROPIC ACTIVITY 5,000
    NATIONAL MULTIPLE SCLEROSIS SOCIETY
    733 THIRD AVENUE 3RD FLOOR
    NEW YORK,NY10017     		NONE PC HEALTH 2,500
    SILVERLAKE CONSERVATORY OF MUSIC
    4652 HOLLYWOOD BOULEVARD
    LOS ANGELES,CA90027     		NONE PC ARTS 5,000
    KCRW FOUNDATION INC
    1900 PICO BOULEVARD
    SANTA MONICA,CA90405     		NONE PC PUBLIC RADIO 10,000
    NO KID HUNGRY BY SHARE OUR STRENGTH
    1030 15TH STREET NW SUITE 1100 W
    WASHINGTON,DC20005     		NONE PC HUNGER 10,000
    PUBLIC COUNSEL
    610 S ARDMORE AVENUE
    LOS ANGELES,CA90005     		NONE PC PHILANTHROPIC ACTIVITY 5,000
    SITEMAN CANCER CENTER
    7425 FORSYTH BOULEVARD
    ST LOUIS,MO63105     		NONE PC HEALTH 10,000
    LA PROMISE FUND
    202 WEST 1ST STREET SUITE 160
    LOS ANGELES,CA90012     		NONE PC EDUCATION 10,000
    TOURETTE ASSOCIATION OF AMERICA INC
    42-40 BELL BOULEVARD SUITE 205
    BAYSIDE,NY11361     		NONE PC HEALTH 10,000
    ST SIMONS LAND TRUST INC
    PO BOX 24615
    ST SIMONS ISLAND,GA31522     		NONE PC ENVIRONMENTAL QUALITY/ PROTECTION / BEAUTIFICATION 1,000
    SKIRBALL CULTURAL CENTER
    2701 NORTH SEPULVEDA BOULEVARD
    LOS ANGELES,CA90049     		NONE PC ARTS/CULTURE/HUMANITIES 70,000
    WATER BUFFALO CLUB INC
    16530 VENTURA BOULEVARD SUITE 305
    ENCINO,CA91436     		NONE PC PHILANTHROPIC ACTIVITY 2,500
    BABY2BABY
    5830 W JEFFERSON BOULEVARD SUITE
    LOS ANGELES,CA90016     		NONE PC PHILANTHROPIC ACTIVITY 5,000
    KIPP FOUNDATION
    135 MAIN STREET SUITE 1700
    SAN FRANCISCO,CA94105     		NONE PC EDUCATION 2,007,046
    CASA OF LOS ANGELES
    201 CENTRE PLAZA DRIVE SUITE 1100
    MONTEREY PARK,CA91754     		NONE PC HEALTH 6,000
    BEIT T'SHUVAH
    8831 VENICE BOULEVARD
    LOS ANGELES,CA90034     		NONE PC PHILANTHROPIC ACTIVITY 5,000
    GVNGORG
    907 WESTWOOD BLVD SUITE 414
    LOS ANGELES,CA90024     		NONE PC PHILANTHROPIC ACTIVITY 5,000
    COMMUNITY PARTNERS FOR COLLEGE
    1000 NORTH ALAMEDA STREET SUITE 24
    LOS ANGELES,CA90012     		NONE PC EDUCATION 10,000
    CHAI LIFELINE INC
    151 WEST 30TH STREET 3RD FLOOR
    NEW YORK,NY10001     		NONE PC HEALTH 5,000
    GREATER NEW YORK COUNCILS BOY SCOUTS OF AMERICA
    475 RIVERSIDE DRIVE SUITE 600
    NEW YORK,NY10115     		NONE PC PHILANTHROPIC ACTIVITY 10,000
    A PLACE CALLED HOME
    2830 SOUTH CENTRAL AVENUE
    LOS ANGELES,CA90011     		NONE PC PHILANTHROPIC ACTIVITY 5,000
    SPEAK UP FOUNDATION
    200 S BARRINGTON AVE
    LOS ANGELES,CA90049     		NONE PC EDUCATION 25,000
    THE EMILY KRZYZEWSKI FAMILY LIFE CENTER INC
    904 WEST CHAPEL HILL STREET
    DURHAM,NC27701     		NONE PC EDUCATION 10,000
    UNIVERSITY OF VIRGINIA LAW SCHOOL FOUNDATION
    580 MASSIE ROAD
    CHARLOTTESVILLE,VA22903     		NONE PC EDUCATION 7,200,000
    HOMEBOY INDUSTRIES
    130 W BRUNO STREET
    LOS ANGELES,CA90012     		NONE PC PHILANTHROPIC ACTIVITY 50,000
    UNIVERSITY OF PENNSYLVANIA
    3451 WALNUT STREET
    PHILADELPHIA,PA19104     		NONE PC EDUCATION 500,000
    TEACH FOR AMERICA INC
    25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		NONE PC EDUCATION 1,333,333
    CHARTER SCHOOL GROWTH FUND
    10901 WEST 120TH AVENUE SUITE 450
    BROOMFIELD,CO80021     		NONE POF Support the creation and expansion of public charter school networks and management companies 1,000,000
    JOHN THOMAS DYE SCHOOL
    11414 CHALON ROAD
    LOS ANGELES,CA90049     		NONE PC EDUCATION 50,000
    LEADERSHIP FOR EDUCATIONAL EQUITY FOUNDATION
    1805 7TH STREET NW 6TH FLOOR
    WASHINGTON,DC20001     		NONE PC PHILANTHROPIC ACTIVITY 250,000
    KIPP ST LOUIS
    1310 PAPIN STREET SUITE 203
    ST LOUIS,MO63103     		NONE PC EDUCATION 600,000
    KIPP LA SCHOOLS
    3601 EAST FIRST STREET
    LOS ANGELES,CA90063     		NONE PC EDUCATION 2,955,780
    SALVATION ARMY
    30840 HAWTHORNE BLVD
    RANCHOS PALOS VERDES,CA90275     		NONE PC PHILANTHROPIC ACTIVITY 641,706
    DUKE UNIVERSITY
    PO BOX 90581
    DURHAM,NC27708     		NONE PC EDUCATION 4,550,000
    CANCER FOR COLLEGE
    28465 OLD TOWN FRONT STREET SUITE
    TEMECULA,CA92590     		NONE PC EDUCATION 10,000
    UNITED WAY OF COASTAL GEORGIA INC
    PO BOX 877
    BRUNSWICK,GA31521     		NONE PC PHILANTHROPIC ACTIVITY 2,500
    KIPP BAY AREA SCHOOLS
    1000 BROADWAY SUITE 460
    OAKLAND,CA94607     		NONE PC EDUCATION 50,000
    LOS ANGELES PARKS FOUNDATION
    2650 N COMMONWEALTH AVENUE
    LOS ANGELES,CA90027     		NONE PC ENVIRONMENTAL QUALITY/ PROTECTION / BEAUTIFICATION 15,000
    ROCK AND ROLL HALL OF FAME FOUNDATION INC
    1290 AVENUE OF THE AMERICAS 2ND FL
    NEW YORK,NY10104     		NONE PC PHILANTHROPIC ACTIVITY 10,000
    SHELTER PARTNERSHIP INC
    520 S GRAND AVENUE SUITE 695
    LOS ANGELES,CA90071     		NONE PC PHILANTHROPIC ACTIVITY 10,000
    CSNK2A1 FOUNDATION
    1929 VAN NESS AVENUE
    SAN FRANCISCO,CA94109     		NONE PC HEALTH 10,000
    THE CHRIS LONG FOUNDATION
    100 S BRENTWOOD BLVD SUITE 500
    CLAYTON,MO63105     		NONE PC PHILANTHROPIC ACTIVITY 25,000
    LOS ANGELES CITY COLLEGE FOUNDATION
    855 N VERMONT AVENUE
    LOS ANGELES,CA90029     		NONE PC EDUCATION 5,000
    LOS ANGELES COUNTY MUSEUM OF ART
    5905 WILSHIRE BOULEVARD
    LOS ANGELES,CA90036     		NONE PC ARTS 10,000
    GOLDEN STATE WARRIORS COMMUNITY FOUNDATION
    1011 BROADWAY
    OAKLAND,CA94607     		NONE PC PHILANTHROPIC ACTIVITY 60,000
    ONE TO WORLD INC
    307 7TH AVENUE
    NEW YORK,NY10001     		NONE PC PHILANTHROPIC ACTIVITY 10,000
    PHASE 1 FOUNDATION
    7770 S DEAN MARTIN DRIVE 307
    LAS VEGAS,NV89139     		NONE PC PHILANTHROPIC ACTIVITY 2,500
    UJA FEDERATION OF NEW YORK
    130 EAST 59TH STREET
    NEW YORK,NY10022     		NONE PC PHILANTHROPIC ACTIVITY 10,000
    HUMAN RIGHTS FIRST
    75 BROAD STREET
    NEW YORK,NY10004     		NONE PC PHILANTHROPIC ACTIVITY 25,000
    PHOENIX JEWISH FREE LOAN ASSOCIATION
    3443 N CENTRAL AVENUE SUITE 707
    PHOENIX,AZ85012     		NONE PC PHILANTHROPIC ACTIVITY 5,000
    TIA'S HOPE
    149 S BARRINGTON AVENUE
    LOS ANGELES,CA90049     		NONE PC PHILANTHROPIC ACTIVITY 5,000
    SPARK PROGRAM INC
    145 S SPRING STREET SUITE 410
    LOS ANGELES,CA90012     		NONE PC PHILANTHROPIC ACTIVITY 35
    RIGHT TO PLAY
    134 WEST 26TH STREET SUITE 404
    NEW YORK,NY10001     		NONE PC HEALTH 50,000
    THE UCLA FOUNDATION
    10920 WILSHIRE BOULEVARD SUITE 900
    LOS ANGELES,CA90024     		NONE PC EDUCATION 5,000
    BEAUTY BUS FOUNDATION
    11301 OLYMPIC BOULEVARD SUITE 303
    LOS ANGELES,CA90064     		NONE PC PHILANTHROPIC ACTIVITY 10,000
    METROPOLITAN MUSEUM OF ART
    1000 FIFTH AVENUE
    NEW YORK,NY10028     		NONE PC ARTS 100,000
    A COMMUNITY OF FRIENDS
    3701 WILSHIRE BOULEVARD SUITE 700
    LOS ANGELES,CA90010     		NONE PC PHILANTHROPIC ACTIVITY 10,000
    FOCUSING PHILANTHROPY INC
    1637 16TH STREET
    SANTA MONICA,CA90404     		NONE PC PHILANTHROPIC ACTIVITY 25,000
    FRIENDS OF THE PEACE PARKS INC
    717 POPLAR AVENUE
    BOULDER,CO80304     		NONE PC PHILANTHROPIC ACTIVITY 20,000
    EXCEPTIONAL CHILDREN'S FOUNDATION
    5350 MACHADO ROAD
    CULVER CITY,CA90230     		NONE PC PHILANTHROPIC ACTIVITY 5,000
    SPELMAN COLLEGE
    350 SPELMAN LANE SW
    ATLANTA,GA30314     		NONE PC EDUCATION 500,000
    THE PAINTED TURTLE
    1300 4TH STREET SUITE 300
    SANTA MONICA,CA90401     		NONE PC PHILANTHROPIC ACTIVITY 50,000
    BRENTWOOD SCHOOL
    100 SOUTH BARRINGTON PLACE
    LOS ANGELES,CA90049     		NONE PC EDUCATION 133,333
    ALEPH INSTITUTE
    9540 COLLINS AVENUE
    SURFSIDE,FL33154     		NONE PC EDUCATION / FAMILY SERVICES 2,000
    EDUCATORS FOR EXCELLENCE INC
    80 PINE STREET 28TH FLOOR
    NEW YORK,NY10005     		NONE PC EDUCATION 5,000
    IMMIGRANT DEFENDERS LAW CENTER
    634 SOUTH SPRING STREET 10TH FLOOR
    LOS ANGELES,CA90014     		NONE PC PHILANTHROPIC ACTIVITY 5,000
    GLOBAL CITIZEN YEAR INC
    1625 CLAY STREET
    OAKLAND,CA94612     		NONE PC PHILANTHROPIC ACTIVITY 25,000
    THE KNOWLEDGE HOUSE FELLOWSHIP INC
    363 RIDER AVENUE
    BRONX,NY10451     		NONE PC EMPLOYMENT TRAINING 50,000
    SITKA SOUND SCIENCE CENTER INC
    834 LINCOLN STREET
    SITKA,AK99835     		NONE PC EDUCATION 250,000
    BRAVE HEART VOLUNTEERS
    PO BOX 6336
    SITKA,AK99835     		NONE PC HEALTH 15,000
    CHARITIES AID FOUNDATION AMERICA
    225 REINEKERS LANE SUITE 375
    ALEXANDRIA,VA22314     		NONE PC PHILANTHROPIC ACTIVITY 500,000
    Total .................................bullet 3a 24,164,133
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-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.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees 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 2,266,594  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 9,935,642  
    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)..   12,202,236  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    12,202,236
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-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 (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    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? ...........
    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.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description