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
2019
Open to Public Inspection
For calendar year 2019, or tax year beginning 07-01-2019 , and ending 06-30-2020
Name of foundation
The Lenfest Foundation Inc
 
Number and street (or P.O. box number if mail is not delivered to street address)100 N 18th Street No 800
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Philadelphia, PA19103
A Employer identification number

23-3031350
B Telephone number (see instructions)

(215) 239-9003
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$33,756,551J 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)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 555,267 555,267 555,267
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,394,727
b Gross sales price for all assets on line 6a 20,383,380
7 Capital gain net income (from Part IV, line 2)... 2,394,727
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).......      
12 Total. Add lines 1 through 11........ 2,949,994 2,949,994 555,267
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 146,684 14,668 0 132,016
14 Other employee salaries and wages...... 78,622 7,862 0 70,760
15 Pension plans, employee benefits....... 20,219 2,022 0 18,197
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... 34,333 17,166 0 17,167
c Other professional fees (attach schedule).... 230,338 197,338 0 33,000
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... 17,399 1,739 0 15,660
19 Depreciation (attach schedule) and depletion... 3,920 0 3,920
20 Occupancy.............. 66,623 6,662 0 59,961
21 Travel, conferences, and meetings....... 7,198 0 0 7,198
22 Printing and publications..........        
23 Other expenses (attach schedule)....... 55,977 8,879 0 47,098
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 661,313 256,336 3,920 401,057
25 Contributions, gifts, grants paid....... 29,420,000 26,770,000
26 Total expenses and disbursements. Add lines 24 and 25 30,081,313 256,336 3,920 27,171,057
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -27,131,319
b Net investment income (if negative, enter -0-) 2,693,658
c Adjusted net income (if negative, enter -0-)... 551,347
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2019)
Form 990-PF (2019)
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............. 13,273,477 15,166 15,166
2 Savings and temporary cash investments......... 775,457 18,508,318 18,508,318
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
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..........      
10a Investments—U.S. and state government obligations (attach schedule) 11,658,913 4,339,984 4,339,984
b Investments—corporate stock (attach schedule)....... 13,303,077 376,600 376,600
c Investments—corporate bonds (attach schedule)....... 5,141,936 4,436,259 4,436,259
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 11,512,378 6,008,167 6,008,167
14 Land, buildings, and equipment: basis bullet106,053
Less: accumulated depreciation (attach schedule) bullet102,183 7,526 3,870 3,870
15 Other assets (describe bullet) 5,058,121 68,187 68,187
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 60,730,885 33,756,551 33,756,551
Liabilities 17 Accounts payable and accrued expenses.......... 33,558 4,234
18 Grants payable................. 21,910,737 6,158,974
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) 86,219 48,852
23 Total liabilities (add lines 17 through 22)......... 22,030,514 6,212,060
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 38,700,371 27,544,491
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
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)..... 38,700,371 27,544,491
30 Total liabilities and net assets/fund balances (see instructions). 60,730,885 33,756,551
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
38,700,371
2
Enter amount from Part I, line 27a .....................
2
-27,131,319
3
Other increases not included in line 2 (itemize) bullet
3
15,975,439
4
Add lines 1, 2, and 3 ..........................
4
27,544,491
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
27,544,491
Form 990-PF (2019)
Form 990-PF (2019)
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 AZ Sch Facs Brd   2016-02-02 2019-07-01
b FHLB 2.74%   2017-05-08 2019-07-08
c SPDR S&P Midcap 400 ETF   2015-12-23 2019-07-12
d Vanguard S&P 500 ETF   2015-09-08 2019-07-16
e AZ Bd Regents U   2016-02-03 2019-09-26
Green Bay WI RDA 2.5% Leas Bldg   2016-03-09 2019-09-26
Maryland St 4.4%   2017-05-10 2019-09-26
NYC NY Tran Auth 2.28%   2018-06-18 2019-09-26
OR Sch Bd Assn 4.115%   2016-03-18 2019-09-26
Univ CA 2.487% Pub Educ   2016-04-21 2019-09-26
WI St Gen Fnd A 2.333%   2017-04-06 2019-09-26
Univ AR 2.8% Pub Educ   2016-03-11 2019-09-27
Mississippi St   2015-12-04 2019-10-01
Texas St 3.194   2015-12-08 2019-10-01
New York NY 6.81   2016-02-18 2019-10-15
Utah Cnty UT 5.57%   2015-12-04 2019-12-01
FHLB 2.6%   2017-04-26 2019-12-05
Baron Discovery Fund   2019-04-25 2020-03-04
Eaton Vance Atlanta   2019-04-25 2020-03-04
SPDR S&P Dividend ETF   2019-04-25 2020-03-04
Vanguard High Dividend Yield ETF   2019-04-25 2020-03-04
SPDR S&P Dividend ETF   2019-04-25 2020-03-04
Vanguard High Dividend Yield ETF   2019-04-25 2020-03-04
Baron Discovery Fund   2017-02-24 2020-03-04
Vanguard Mid Cap ETF   2015-09-08 2020-03-04
Vanguard Real Estate ETF   2015-09-09 2020-03-04
Vanguard S&P 500 ETF   2015-09-08 2020-03-04
FHLB 2.34%   2018-09-25 2020-03-05
Farm Credit Systte 1.9%   2018-09-27 2020-03-13
SPDR S&P Dividend ETF   2015-09-09 2020-03-27
Vanguard High Dividend Yield ETF   2015-09-09 2020-03-27
Vanguard Mid Cap ETF   2015-09-09 2020-03-27
Vanguard Real Estate ETF   2015-09-09 2020-03-27
Vanguard S&P 500 ETF   2015-09-09 2020-03-27
Eaton Vance Atlanta   2019-04-25 2020-04-07
Baron Discovery Fund   2017-02-24 2020-04-07
Exxon Mobil Cor 2.397%   2015-12-04 2020-04-17
Chevron Corp 2.895%   2018-10-18 2020-04-20
Farm Credit Syste 3.95%   2015-09-09 2020-05-14
(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 775,000   785,160 -10,160
b 150,000   150,645 -645
c 1,213,617   872,166 341,451
d 1,395,124   916,833 478,291
e 463,935   463,965 -30
559,430   555,015 4,415
539,725   554,080 -14,355
447,798   410,217 37,581
501,960   536,061 -34,101
608,984   595,671 13,313
503,840   476,300 27,540
284,395   275,015 9,380
650,000   711,453 -61,453
455,000   479,781 -24,781
215,000   247,344 -32,344
650,000   735,652 -85,652
150,000   149,930 70
95,695   90,000 5,695
159,985   165,841 -5,856
266,298   271,649 -5,351
265,177   270,940 -5,763
122,115   154,940 -32,825
123,580   152,950 -29,370
64,290   42,206 22,084
233,045   171,673 61,372
351,188   265,961 85,227
2,077,418   1,339,500 737,918
160,000   145,516 14,484
150,000   138,015 11,985
312,027   284,908 27,119
324,838   290,046 34,792
383,349   354,382 28,967
533,070   531,223 1,847
3,500,044   2,688,050 811,994
284,957   368,232 -83,275
293,558   249,091 44,467
614,648   595,083 19,565
289,290   266,253 23,037
215,000   236,906 -21,906
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       -10,160
b       -645
c       341,451
d       478,291
e       -30
      4,415
      -14,355
      37,581
      -34,101
      13,313
      27,540
      9,380
      -61,453
      -24,781
      -32,344
      -85,652
      70
      5,695
      -5,856
      -5,351
      -5,763
      -32,825
      -29,370
      22,084
      61,372
      85,227
      737,918
      14,484
      11,985
      27,119
      34,792
      28,967
      1,847
      811,994
      -83,275
      44,467
      19,565
      23,037
      -21,906
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 2,394,727
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 -156,745
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))
2018 11,381,455 62,513,627 0.182064
2017 15,189,739 73,614,661 0.206341
2016 10,346,823 80,588,773 0.128390
2015 10,244,968 87,644,843 0.116892
2014 7,099,769 100,708,846 0.070498
2
Total of line 1, column (d) .....................
2
0.704185
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
0.140837
4
Enter the net value of noncharitable-use assets for 2019 from Part X, line 5......
4
38,262,060
5
Multiply line 4 by line 3......................
5
5,388,714
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
26,937
7
Add lines 5 and 6........................
7
5,415,651
8
Enter qualifying distributions from Part XII, line 4,.............
8
27,171,057
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 (2019)
Form 990-PF (2019)
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 26,937
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 0
3 Add lines 1 and 2........................... 3 26,937
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 26,937
6 Credits/Payments:
a 2019 estimated tax payments and 2018 overpayment credited to 2019 6a 18,317
b Exempt foreign organizations—tax withheld at source...... 6b
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 18,317
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 8,620
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2020 estimated taxBullet   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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 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 XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletPA
    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 2019 or the taxable year beginning in 2019? 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 (2019)
    Form 990-PF (2019)
    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
    Yes
     
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletLENFESTFOUNDATION.ORG
    14
    The books are in care ofbulletThe Organization Telephone no.bullet (215) 239-9003

    Located atbullet100 N 18th Street No 800PhiladelphiaPA ZIP+4bullet19103
    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 2019, 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
     
     
    ........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 2019?.............
    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 2019, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2019?.............
    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 2019 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 2019.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2019?
    4b
     
    No
    Form 990-PF (2019)
    Form 990-PF (2019)
    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
     
     
    .........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
    Dr Keith L Leaphart Board Chair
    1.00     		0 0 0
    100 North 18th Street
    Philadelphia,PA19103
    Joseph F Huber Vice Chair/Treasurer
    1.00     		0 0 0
    100 North 18th Street
    Philadelphia,PA19103
    Marguerite Lenfest President
    3.00     		0 0 0
    100 North 18th Street
    Philadelphia,PA19103
    Grahame Richards Secretary
    2.00     		0 0 0
    100 North 18th Street
    Philadelphia,PA19103
    Jeffrey A Beachell Director
    1.00     		0 0 0
    100 North 18th Street
    Philadelphia,PA19103
    Wes Somerville Executive Director
    35.00     		146,684 0 0
    100 North 18th Street
    Philadelphia,PA19103
    Diane Myer Director
    1.00     		0 0 0
    100 North 18th Street
    Philadelphia,PA19103
    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
    Georgea Ferrante Administrator
    35.00     		78,622 0 0
    100 N 18th Street
    Philadelphia,PA19103
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2019)
    Form 990-PF (2019)
    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
    NONE
    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 The Foundation is a private non-operating foundation, and as such, its only activity is to make grants or contributions to other 501(c)(3) organizations, principally to public charities. 0
    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  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2019)
    Form 990-PF (2019)
    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
    27,499,144
    b
    Average of monthly cash balances.......................
    1b
    11,345,587
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    38,844,731
    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
    38,844,731
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    582,671
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    38,262,060
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,913,103
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,913,103
    2a
    Tax on investment income for 2019 from Part VI, line 5......
    2a
    26,937
    b
    Income tax for 2019. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    26,937
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,886,166
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,886,166
    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
    1,886,166
    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
    27,171,057
    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
     
    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 V, line 8, and Part XIII, line 4
    4
    27,171,057
    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
    26,937
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    27,144,120
    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 (2019)
    Form 990-PF (2019)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2018     		(c)
    2018     		(d)
    2019
    1 Distributable amount for 2019 from Part XI, line 7 1,886,166
    2 Undistributed income, if any, as of the end of 2019:
    a Enter amount for 2018 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2019:
    a From 2014...... 2,227,371
    b From 2015...... 5,908,986
    c From 2016...... 6,374,910
    d From 2017...... 11,523,901
    e From 2018...... 8,279,140
    fTotal of lines 3a through e........ 34,314,308
    4Qualifying distributions for 2019 from Part
    XII, line 4: bullet$ 27,171,057
    a Applied to 2018, 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 2019 distributable amount..... 1,886,166
    e Remaining amount distributed out of corpus 25,284,891
    5 Excess distributions carryover applied to 2019. 0 0
    (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 59,599,199
    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 2018. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2019. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2020 ..........     		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 2014 not
    applied on line 5 or line 7 (see instructions) ...     		2,227,371
    9Excess distributions carryover to 2020.
    Subtract lines 7 and 8 from line 6a ......     		57,371,828
    10 Analysis of line 9:
    a Excess from 2015.... 5,908,986
    b Excess from 2016.... 6,374,910
    c Excess from 2017.... 11,523,901
    d Excess from 2018.... 8,279,140
    e Excess from 2019.... 25,284,891
    Form 990-PF (2019)
    Form 990-PF (2019)
    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 2019, 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) 2019 (b) 2018 (c) 2017 (d) 2016
             
    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).)
    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.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    The Lenfest Foundation
    Two Logan Square 100 N 18th Street
    Suite 800
    Philadelphia,PA19103
    (215) 239-9003
    bThe form in which applications should be submitted and information and materials they should include:
    Instructions relating to what information to include with your application is included in the "Grantmaking" section of the website, or can be obtained by submitting a request to the Foundation.
    cAny submission deadlines:
    None
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    The website lists "Areas of Non-Support" which include disease research, programs dealing with health or disabilities, politial organizations, litigation, publications, university presses, studies lacking action plans for utilization, parties, conferences, fairs, festivals and others. Also, the Foundation does not purchase tickets, tables, ads or sponsorships.
    Form 990-PF (2019)
    Form 990-PF (2019)
    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
    AARP Foundation Experience Corps
    1709 Benjamin Franklin Parkway
    Philadelphia,PA19103     		  Public Charity General operating support 20,000
    Academy of Natural Sciences of Philadelphia
    1900 Benjamin Franklin Parkway
    Philadelphia,PA19103     		  Public Charity WINS program 20,000
    After School Activities Partnerships
    1520 Locust Street
    Philadelphia,PA19102     		  Public Charity OST programs 70,000
    After School All-Stars
    1501 Cherry Street
    Philadelphia,PA19102     		  Public Charity Launch summer programming at three schools 282,000
    Art Reach Inc
    1501 Cherry Street
    Philadelphia,PA19102     		  Public Charity General operating support 10,000
    Bicycle Coalition of Greater Philadelphia
    1500 Walnut Street
    Philadelphia,PA19102     		  Public Charity General operating support 5,000
    Big Brothers Big Sisters of Southeastern PA
    123 South Broad Street
    Philadelphia,PA19109     		  Public Charity Youth mentoring 350,000
    Bournelyf Special Camp
    1066 South New Street
    West Chester,PA19382     		  Public Charity General operating support 25,000
    Boys Latin of Philadelphia Charter School
    5501 Cedar Avenue
    Philadelphia,PA19143     		  Public Charity Ensuring success in college and beyond 100,000
    Bucks for Kids
    25 North Main Street
    Doylestown,PA18901     		  Public Charity General operating support 5,000
    Building 21
    2000 N 7th Street
    Philadelphia,PA19122     		  Public Charity Support individualized career instruction 225,000
    Caring People Alliance
    1628 JFK Boulevard
    Philadelphia,PA19103     		  Public Charity Summer camp 25,000
    Chester County Futures
    704 Haywood Drive
    Exton,PA19341     		  Public Charity General operating support 25,000
    Chipping Hill Micro Farms Inc
    3 Springhouse Lane
    Blue Bell,PA19422     		  Public Charity Weekly gardening classes 13,000
    Coded By Kids
    3675 Market Street
    Philadelphia,PA19104     		  Public Charity OST programs 300,000
    Congreso de Latinos Unidos Inc
    216 West Somerset Street
    Philadelphia,PA19133     		  Public Charity Middle School Career Pathways 100,000
    COVID 19 PHL Fund
    1835 Market Street
    Philadelphia,PA19103     		  Public Charity COVID 19 Fund 1,000,000
    Cradle of Liberty Council Boy Scouts of America
    1485 Valley Forge Road
    Wayne,PA19087     		  Public Charity General operating support 30,000
    Cradles to Crayons
    4700 Wissahickon Avenue
    Philadelphia,PA19144     		  Public Charity Everyday Essentials 10,000
    Creating IT Futures Foundation
    3500 Lacey Road
    Downers Grove,IL60515     		  Public Charity Operating support 50,000
    District 1199C
    100 S Broad Street
    Philadelphia,PA19110     		  Public Charity Health and human services CP 240,000
    Drexel University
    3141 Chestnut Street
    Philadelphia,PA19104     		  Public Charity Center for Cultural Partnerships Co-ops 13,000,000
    Drueding Center
    413 West Master Street
    Philadelphia,PA19122     		  Public Charity General operating support 20,000
    Education Law Center
    1800 JFK Blvd
    Philadelphia,PA19103     		  Public Charity General operating support 100,000
    First Step Staffing
    1952 E Allegheny Avenue
    Philadelphia,PA19134     		  Public Charity Individuals experiencing homelessness 200,000
    Free Library of Philadelphia
    1901 Vine Street
    Philadelphia,PA19103     		  Public Charity General operating support 25,000
    Philanthropi
    1516 N 5th Street
    Philadelphia,PA19122     		  Public Charity General operating support 50,000
    Girl Scouts of Eastern Pennsylvnaia
    330 Manor Road
    Miquon,PA19444     		  Public Charity General operating support 30,000
    Greater Philadelphia Cultural Alliance
    1315 Walnut Street
    Philadelphia,PA19107     		  Public Charity General operating support 50,000
    GreenLight Fund
    1608 Walnut Street
    Philadelphia,PA19103     		  Public Charity GreenLight Philadelphia Fund III 125,000
    Greene Street Friends School
    5511 Greene Street
    Philadelphia,PA19144     		  Public Charity Horizons summer learning program 30,000
    Vanguard Charitable Fund
    PO Box 9509
    Warwick,RI02889     		  Public Charity General operating support 25,000
    iPraxis
    404 Chapel Road
    Elkins Park,PA19027     		  Public Charity OST programs 50,000
    JEVS Human Services
    1845 Walnut Street
    Philadelphia,PA19103     		  Public Charity Gateway Career Pathways Strategy 500,000
    Kimmel Center
    260 South Broad Street
    Philadelphia,PA19102     		  Public Charity Creative stages 200,000
    KIPP Philadelphia Schools
    5070 Parkside Avenue
    Philadelphia,PA19131     		  Public Charity General operating support 100,000
    Legacy Youth Tennis and Education
    4842 Ridge Avenue
    Philadelphia,PA19129     		  Public Charity Junior instruction/youth employment 50,000
    The Lenfest Institute for Journalism
    801 Market Street
    Philadelphia,PA19107     		  Public Charity Klein College High School media workshop 12,500
    Liguori Academy
    1952 Allegheny Avenue
    Philadelphia,PA19134     		  Public Charity Experiential Learning Program 100,000
    The Mann Center for the Performing Arts
    123 South Broad Street
    Philadelphia,PA19109     		  Public Charity General operating support 25,000
    Mercy Vocational High
    2900 West Hunting Park Avenue
    Philadelphia,PA19129     		  Public Charity General operating support 100,000
    Mighty Writers
    1501 Christian Street
    Philadelphia,PA19146     		  Public Charity Capacity building for MS writing program 50,000
    Mom's House
    145 South Main Street
    Philadelphia,PA19460     		  Public Charity General operating support 5,000
    Opera Philadelphia
    1420 Locust Street
    Philadelphia,PA19102     		  Public Charity Workforce readiness 12,500
    The Philadelphia Foundation
    1835 Market Street
    Philadelphia,PA19103     		  Public Charity Lenfest Foundation Board members Donor Advised Funds 125,000
    Philadelphia Mural Arts
    1727 Mt Vernon Street
    Philadelphia,PA19130     		  Public Charity Operating support 50,000
    Philadelphia Schools Project
    150 S Independence Mall West
    Philadelphia,PA19106     		  Public Charity General operating support 1,200,000
    Philadelphia Youth Basketball
    1735 Market Street
    Philadelphia,PA19103     		  Public Charity Middle school partnership program and collegiate summer camp series 150,000
    Philadelphia Youth Network
    400 Market Street
    Philadelphia,PA19103     		  Public Charity General operating support 250,000
    Philanthropy Network of Greater Philadelphia
    230 S Broad Street
    Philadelphia,PA19102     		  Public Charity General operating support 30,000
    Play On Philly
    PO Box 8662
    Philadelphia,PA19101     		  Public Charity After school music education 50,000
    Project Based Learning Center Inc
    221 S Hanson Street
    Philadelphia,PA19139     		  Public Charity Support for individualized career instruction 230,000
    Public Citizens for Children and Youth
    990 Spring Garden Street
    Philadelphia,PA19123     		  Public Charity General operating support 20,000
    Rebel Ventures
    3819 Chestnut Street
    Philadelphia,PA19104     		  Public Charity Operating support 25,000
    Rebuilding Together Philadelphia
    4355 Orchard Street
    Philadelphia,PA19124     		  Public Charity Vo-Tech 150,000
    Retired and Senior Volunteer Program
    901 East 8th Avenue
    King of Prussia,PA19406     		  Public Charity General operating support 12,000
    Salvation Army - Philadelphia
    701 N Broad Street
    Philadelphia,PA19123     		  Public Charity General operating support 30,000
    Settlement Music School
    PO Box 63966
    Philadelphia,PA19147     		  Public Charity Providing middle school students with a critical path to success 50,000
    Spark Program Inc
    1501 Cherry Street
    Philadelphia,PA19102     		  Public Charity Accelerating scale 50,000
    Steppingstone Scholars Inc
    1301 Cecil B Moore Avenue
    Philadelphia,PA19122     		  Public Charity Middle Schoole Grades academy 300,000
    St James School
    3217 West Clearfield Street
    Philadelphia,PA19132     		  Public Charity General operating support 10,000
    Summer Search Philadelphia
    1528 Walnut Street
    Philadelphia,PA19102     		  Public Charity Hybrid mentoring in Philadelphia 150,000
    Tech Impact
    417 N 8th Street
    Philadelphia,PA19123     		  Public Charity General operating support 50,000
    Temple University
    1801 N Broad Street
    Philadelphia,PA19122     		  Public Charity Program support 3,243,000
    Turning Points for Children
    415 South 15th Street
    Philadelphia,PA19146     		  Public Charity YVLifeset 250,000
    University City District
    3940 Chestnut Street
    Philadelphia,PA19104     		  Public Charity Connecting Talented West Philadelphians to Life Changing Jobs: A Collaborative Approach 2,000,000
    University City Science Center
    3675 Market Street
    Philadelphia,PA19104     		  Public Charity General operating support 50,000
    WHYY
    150 North 6th Street
    Philadelphia,PA19106     		  Public Charity WHYY Media Lab Program 200,000
    Year Up Greater Philadelphia
    1420 Pine Street
    Philadelphia,PA19102     		  Public Charity Closing the Opportunity Guide 150,000
    Youthbuild Philadelphia
    1231 N Broad Street
    Philadelphia,PA19122     		  Public Charity Alumni network support 150,000
    YWCA of Bucks County
    2425 Trevose Road
    Trevose,PA19053     		  Public Charity General operating support 30,000
    Total .................................bullet 3a 26,770,000
    bApproved for future payment
    Philadelphia Youth Network
    400 Market Street
    Philadelphia,PA19103     		  Public Charity General operating support 300,000
    District 1199C
    100 S Broad Street
    Philadelphia,PA19110     		  Public Charity Health and human services CP 250,000
    Drexel University
    3141 Chestnut Street
    Philadelphia,PA19104     		  Public Charity SLA-MS/Sunrise 100,000
    Education Works
    990 Spring Garden Street
    Philadelphia,PA19123     		  Public Charity Support for PowerCorpsPHL 1,000,000
    First Step Staffing
    1952 E Allegheny Avenue
    Philadelphia,PA19134     		  Public Charity Individuals experiencing homelessness 500,000
    JEVS Human Services
    1845 Walnut Street
    Philadelphia,PA19103     		  Public Charity Looking Forward Re-Entry Program 500,000
    Total .................................bullet 3b 2,650,000
    Form 990-PF (2019)
    Form 990-PF (2019)
    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....     14 555,267  
    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 2,394,727  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 2,949,994 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,949,994
    (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 (2019)
    Form 990-PF (2019)
    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 (2019)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description