Instrumentl eFile Render
Object ID: 202233199349108763 - Rendered 2024-05-02
TIN: 26-3922995
Form
990-PF
Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
Do not enter social security numbers on this form as it may be made public.
Go to
www.irs.gov/Form990PF
for instructions and the latest information.
OMB No. 1545-0047
20
21
Open to Public Inspection
For calendar year 2021, or tax year beginning
01-01-2021
, and ending
12-31-2021
Name of foundation
PAULSON FAMILY FOUNDATION
C/O PAULSON & CO INC
Number and street (or P.O. box number if mail is not delivered to street address)
1133 AVE OF THE AMERICAS 33RD FL
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW YORK
,
NY
10036
A Employer identification number
26-3922995
B
Telephone number (see instructions)
(212) 956-2221
C
If exemption application is pending, check here
G
Check all that apply:
Initial return
Initial return of a former public charity
Final return
Amended return
Address change
Name change
D 1.
Foreign organizations, check here.............
2
. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
If private foundation status was terminated
under section 507(b)(1)(A), check here .......
H
Check type of organization:
Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust
Other taxable private foundation
F
If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here .......
I
Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)
$
1,207,331,692
J
Accounting method:
Cash
Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)
Part I
Analysis of Revenue and Expenses
(The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)
(a)
Revenue and
expenses per
books
(b)
Net investment
income
(c)
Adjusted net
income
(d)
Disbursements
for charitable
purposes
(cash basis only)
1
Contributions, gifts, grants, etc., received (attach schedule)
2
Check
.............
3
Interest on savings and temporary cash investments
4
Dividends and interest from securities
...
480,215
480,215
5a
Gross rents
............
b
Net rental income or (loss)
6a
Net gain or (loss) from sale of assets not on line 10
-118,509,834
b
Gross sales price for all assets on line 6a
182,803,364
7
Capital gain net income (from Part IV, line 2)
...
0
8
Net short-term capital gain
.........
9
Income modifications
...........
10a
Gross sales less returns and allowances
b
Less: Cost of goods sold
....
c
Gross profit or (loss) (attach schedule)
.....
11
Other income (attach schedule)
.......
12
Total.
Add lines 1 through 11
........
-118,029,619
480,215
13
Compensation of officers, directors, trustees, etc.
252,500
0
0
14
Other employee salaries and wages
......
15
Pension plans, employee benefits
.......
24,685
0
0
16a
Legal fees (attach schedule)
.........
42,540
0
0
b
Accounting fees (attach schedule)
.......
10,510
0
0
c
Other professional fees (attach schedule)
....
17
Interest
...............
130
0
0
18
Taxes (attach schedule) (see instructions)
...
74,755
0
0
19
Depreciation (attach schedule) and depletion
...
20
Occupancy
..............
21
Travel, conferences, and meetings
.......
22
Printing and publications
..........
23
Other expenses (attach schedule)
.......
927
0
0
24
Total operating and administrative expenses.
Add lines 13 through 23
..........
406,047
0
0
25
Contributions, gifts, grants paid
.......
54,805,668
54,805,668
26
Total expenses and disbursements.
Add lines 24 and 25
55,211,715
0
54,805,668
27
Subtract line 26 from line 12:
a
Excess of revenue over expenses and disbursements
-173,241,334
b
Net investment income
(if negative, enter -0-)
480,215
c
Adjusted net income
(if negative, enter -0-)
...
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X
Form
990-PF
(2021)
Form 990-PF (2021)
Page
2
Part II
Balance Sheets
Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)
Beginning of year
End of year
(a)
Book Value
(b)
Book Value
(c)
Fair Market Value
1
Cash—non-interest-bearing
.............
976,145
152,525
152,525
2
Savings and temporary cash investments
.........
3
Accounts receivable
Less: allowance for doubtful accounts
4
Pledges receivable
Less: allowance for doubtful accounts
5
Grants receivable
.................
6
Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions)
.....
7
Other notes and loans receivable (attach schedule)
Less: allowance for doubtful accounts
8
Inventories for sale or use
..............
9
Prepaid expenses and deferred charges
..........
10a
Investments—U.S. and state government obligations (attach schedule)
b
Investments—corporate stock (attach schedule)
.......
c
Investments—corporate bonds (attach schedule)
.......
11
Investments—land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
12
Investments—mortgage loans
.............
13
Investments—other (attach schedule)
..........
1,746,365,522
1,546,724,149
1,181,577,625
14
Land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
15
Other assets (describe
)
0
25,601,542
25,601,542
16
Total assets
(to be completed by all filers—see the
instructions. Also, see page 1, item I)
1,747,341,667
1,572,478,216
1,207,331,692
17
Accounts payable and accrued expenses
..........
18
Grants payable
.................
19
Deferred revenue
.................
20
Loans from officers, directors, trustees, and other disqualified persons
21
Mortgages and other notes payable (attach schedule)
......
22
Other liabilities (describe
)
333,190
0
23
Total liabilities
(add lines 17 through 22)
.........
333,190
0
Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24
Net assets without donor restrictions
...........
25
Net assets with donor restrictions
............
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26
Capital stock, trust principal, or current funds
........
0
0
27
Paid-in or capital surplus, or land, bldg., and equipment fund
0
0
28
Retained earnings, accumulated income, endowment, or other funds
1,747,008,477
1,572,478,216
29
Total net assets or fund balances
(see instructions)
.....
1,747,008,477
1,572,478,216
30
Total liabilities and net assets/fund balances
(see instructions)
.
1,747,341,667
1,572,478,216
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
1,747,008,477
2
Enter amount from Part I, line 27a
.....................
2
-173,241,334
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3
..........................
4
1,573,767,143
5
Decreases not included in line 2 (itemize)
5
1,288,927
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29
.
6
1,572,478,216
Form
990-PF
(2021)
Form 990-PF (2021)
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
PUBLICLY TRADED SECURITIES - HSBC BANK
b
PUBLICLY TRADED SECURITIES - UBS #7050
c
21,250 SHS - PAULSON CREDIT OPPORTUNITIES LTD.
P
2017-12-21
2021-02-28
d
142,862 SHS - PAULSON ADVANTAGE PLUS II LTD.
P
2008-12-31
2021-03-31
e
482,545 SHS - PAULSON ADVANTAGE PLUS II LTD.
P
2013-12-31
2021-03-31
17,787 SHS - PAULSON CREDIT OPPORTUNITIES LTD.
P
2017-12-21
2021-03-31
733,086 SHS - PAULSON ADVANTAGE PLUS II LTD.
P
2013-12-31
2021-10-31
(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
12,125,652
12,130,769
-5,117
b
17,677,712
17,695,170
-17,458
c
47,000,000
59,903,420
-12,903,420
d
21,366,465
39,880,049
-18,513,584
e
18,633,535
48,254,471
-29,620,936
40,000,000
50,140,737
-10,140,737
26,000,000
73,308,582
-47,308,582
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
-5,117
b
-17,458
c
-12,903,420
d
-18,513,584
e
-29,620,936
-10,140,737
-47,308,582
2
Capital gain net income or (net capital loss)
If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7
2
-118,509,834
3
Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8
...................
3
Form
990-PF
(2021)
Form 990-PF (2021)
Page
4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a
Exempt operating foundations described in section 4940(d)(2), check here
and enter “N/A" on line 1.
Date of ruling or determination letter:
(attach copy of letter if necessary–see instructions)
b
All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2
Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)
2
0
3
Add lines 1 and 2
...........................
3
6,675
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
6,675
6
Credits/Payments:
a
2021 estimated tax payments and 2020 overpayment credited to 2021
6a
198
b
Exempt foreign organizations—tax withheld at source
......
6b
0
c
Tax paid with application for extension of time to file (Form 8868)
...
6c
7,500
d
Backup withholding erroneously withheld
...........
6d
0
7
Total credits and payments. Add lines 6a through 6d
..............
7
7,698
8
Enter any
penalty
for underpayment of estimated tax.
Check here
if Form 2220 is attached.
8
150
9
Tax due.
If the total of lines 5 and 8 is more than line 7, enter
amount owed
.......
9
10
Overpayment.
If line 7 is more than the total of lines 5 and 8, enter the
amount overpaid
...
10
873
11
Enter the amount of line 10 to be:
Credited to 2022 estimated tax
873
Refunded
11
0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign?
....................
1a
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition
.................................
1b
No
If the answer is "Yes" to
1a
or
1b,
attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file
Form 1120-POL
for this year?
.....................
1c
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1)
On the foundation.
$
0
(2)
On foundation managers.
$
0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.
$
0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?
.......
2
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments?
If "Yes," attach a conformed copy of the changes
....
3
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?
.........
4a
No
b
If "Yes," has it filed a tax return on
Form 990-T
for this year?
...................
4b
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?
.........
5
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
By language in the governing instrument, or
By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument?
................
6
Yes
7
Did the foundation have at least $5,000 in assets at any time during the year?
If "Yes," complete Part II, col. (c),
and Part XIV.
.................................
7
Yes
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
DE
,
NY
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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
If "Yes," complete Part XIII
.............................
9
No
10
Did any persons become substantial contributors during the tax year?
If "Yes," attach a schedule listing their names
and addresses.
...............................
10
No
Form
990-PF
(2021)
Form 990-PF (2021)
Page
5
Part VI-A
Statements Regarding Activities
(continued)
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions
.............
11
Yes
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions
.................
12
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
Website address
N/A
14
The books are in care of
PAULSON FAMILY FOUNDATION
Telephone no.
(212) 956-2221
Located at
1133 AVENUE OF AMERICAS 33RD FLOOR
NEW YORK
NY
ZIP+4
10036
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of
Form 1041
—check here
.........
and enter the amount of tax-exempt interest received or accrued during the year
........
15
16
At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over
Yes
No
a bank, securities, or other financial account in a foreign country?
.................
16
Yes
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
CA
,
LU
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1)
Engage in the sale or exchange, or leasing of property with a disqualified person?
...........
1a(1)
No
(2)
Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person?
..............................
1a(2)
No
(3)
Furnish goods, services, or facilities to (or accept them from) a disqualified person?
...........
1a(3)
No
(4)
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
............
1a(4)
No
(5)
Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)?
......................
1a(5)
No
(6)
Agree to pay money or property to a government official? (
Exception.
Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.)
...............
1a(6)
No
b
If any answer is "Yes" to 1a(1)–(6), did
any
of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions
..........
1b
c
Organizations relying on a current notice regarding disaster assistance check here
........
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2021?
.............
1d
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2021, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2021?
....................
2a
No
If "Yes," list the years
20
,
20
,
20
,
20
b
Are there any years listed in 2a for which the foundation is
not
applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to
all
years listed, answer "No" and attach statement—see instructions.)
..............
2b
c
If the provisions of section 4942(a)(2) are being applied to
any
of the years listed in 2a, list the years here.
20
,
20
,
20
,
20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year?
..............................
3a
No
b
If "Yes," did it have excess business holdings in 2021 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 2021.)
.....................
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 2021?
..
4b
No
Form
990-PF
(2021)
Form 990-PF (2021)
Page
6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
(continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1)
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
..........
5a(1)
No
(2)
Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive?
....................
5a(2)
No
(3)
Provide a grant to an individual for travel, study, or other similar purposes?
.............
5a(3)
No
(4)
Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions
........................
5a(4)
No
(5)
Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals?
.............
5a(5)
No
b
If any answer is "Yes" to 5a(1)–(5), did
any
of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions
........
5b
c
Organizations relying on a current notice regarding disaster assistance check
.........
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant?
.................
5d
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract?
.............................
6a
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?
....
6b
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction?
.....
7b
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year?
.........................
8
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1
List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a)
Name and address
(b)
Title, and average
hours per week
devoted to position
(c)
Compensation
(If not paid, enter
-0-)
(d)
Contributions to employee benefit plans and deferred compensation
(e)
Expense account,
other allowances
JOHN PAULSON
DIRECTOR & TREASURER
2.00
0
0
0
1133 AVENUE OF THE AMERICAS 33RD FL
NEW YORK
,
NY
10036
CHRISTOPHER PAPAGIANIS
PRESIDENT
36.00
252,500
24,685
0
1133 AVENUE OF THE AMERICAS 33RD FL
NEW YORK
,
NY
10036
2
Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a)
Name and address of each employee paid more than $50,000
(b)
Title, and average
hours per week
devoted to position
(c)
Compensation
(d)
Contributions to
employee benefit
plans and deferred
compensation
(e)
Expense account,
other allowances
NONE
Total
number of other employees paid over $50,000
...................
0
Form
990-PF
(2021)
Form 990-PF (2021)
Page
7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
(continued)
3
Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a)
Name and address of each person paid more than $50,000
(b)
Type of service
(c)
Compensation
NONE
Total
number of others receiving over $50,000 for professional services
.............
0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.
Expenses
1
2
3
4
Part VIII-B
Summary of Program-Related Investments
(see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.
Amount
1
2
All other program-related investments. See instructions.
3
Total.
Add lines 1 through 3
.........................
0
Form
990-PF
(2021)
Form 990-PF (2021)
Page
8
Part IX
Minimum Investment Return
(All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities
...................
1a
0
b
Average of monthly cash balances
.......................
1b
3,046,470
c
Fair market value of all other assets (see instructions)
................
1c
1,278,437,210
d
Total
(add lines 1a, b, and c)
.........................
1d
1,281,483,680
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
1,281,483,680
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions)
.............................
4
19,222,255
5
Net value of noncharitable-use assets.
Subtract line 4 from line 3.
............
5
1,262,261,425
6
Minimum investment return.
Enter 5% (0.05) of line 5
................
6
63,113,071
Part X
Distributable Amount
(see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here
and do not complete this part.)
1
Minimum investment return from Part IX, line 6
..................
1
63,113,071
2a
Tax on investment income for 2021 from Part V, line 5
.......
2a
6,675
b
Income tax for 2021. (This does not include the tax from Part V.)
...
2b
c
Add lines 2a and 2b
............................
2c
6,675
3
Distributable amount before adjustments. Subtract line 2c from line 1
............
3
63,106,396
4
Recoveries of amounts treated as qualifying distributions
................
4
0
5
Add lines 3 and 4
............................
5
63,106,396
6
Deduction from distributable amount (see instructions)
.................
6
0
7
Distributable amount
as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1
...
7
63,106,396
Part XI
Qualifying Distributions
(see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26
..........
1a
54,805,668
b
Program-related investments—total from Part VIII-B
..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes
...............................
2
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)
....................
3a
b
Cash distribution test (attach the required schedule)
.................
3b
4
Qualifying distributions.
Add lines 1a through 3b. Enter here and on Part XII, line 4.
4
54,805,668
Form
990-PF
(2021)
Form 990-PF (2021)
Page
9
Part XII
Undistributed Income
(see instructions)
(a)
Corpus
(b)
Years prior to 2020
(c)
2020
(d)
2021
1
Distributable amount for 2021 from Part X, line 7
63,106,396
2
Undistributed income, if any, as of the end of 2021:
a
Enter amount for 2020 only
.......
0
b
Total for prior years:
20
,
20
,
20
0
3
Excess distributions carryover, if any, to 2021:
a
From 2016
......
b
From 2017
......
c
From 2018
......
9,549,562
d
From 2019
......
e
From 2020
......
f
Total
of lines 3a through e
........
9,549,562
4
Qualifying distributions for 2021 from Part
XI, line 4:
$
54,805,668
a
Applied to 2020, 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 2021 distributable amount
.....
54,805,668
e
Remaining amount distributed out of corpus
0
5
Excess distributions carryover applied to 2021.
8,300,728
8,300,728
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6
Enter the net total of each column as
indicated below:
a
Corpus. Add lines 3f, 4c, and 4e. Subtract line 5
1,248,834
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 2019. Subtract line
4a from line 2a. Taxable amount—see
instructions
.............
0
f
Undistributed income for 2021. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2022
..........
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 2016 not
applied on line 5 or line 7 (see instructions)
...
0
9
Excess distributions carryover to 2022.
Subtract lines 7 and 8 from line 6a
......
1,248,834
10
Analysis of line 9:
a
Excess from 2017
....
b
Excess from 2018
....
1,248,834
c
Excess from 2019
....
d
Excess from 2020
....
e
Excess from 2021
....
Form
990-PF
(2021)
Form 990-PF (2021)
Page
10
Part XIII
Private Operating Foundations
(see instructions and Part VI-A, question 9)
1a
If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2021, enter the date of the ruling
......
b
Check box to indicate whether the organization is a private operating foundation described in section
4942(j)(3)
or
4942(j)(5)
2a
Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed
..........
Tax year
Prior 3 years
(e) Total
(a)
2021
(b)
2020
(c)
2019
(d)
2018
b
85% (0.85) of line 2a
.........
c
Qualifying distributions from Part XI,
line 4 for each year listed
.....
d
Amounts included in line 2c not used directly
for active conduct of exempt activities
..........
e
Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c
....
3
Complete 3a, b, or c for the
alternative test relied upon:
a
“Assets" alternative test—enter:
(1)
Value of all assets
......
(2)
Value of assets qualifying
under section 4942(j)(3)(B)(i)
b
“Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed
..
c
“Support" alternative test—enter:
(1)
Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties)
....
(2)
Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii)
....
(3)
Largest amount of support
from an exempt organization
(4)
Gross investment income
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1
Information Regarding Foundation Managers:
a
List any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
JOHN PAULSON
b
List any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2
Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here
if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
a
The name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
JOHN PAULSON
1133 AVENUE OF THE AMERICAS33RD FL
NEW YORK
,
NY
10036
(212) 350-5151
b
The form in which applications should be submitted and information and materials they should include:
N/A
c
Any submission deadlines:
N/A
d
Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
DECIDED ON CASE BY CASE BASIS.
Form
990-PF
(2021)
Form 990-PF (2021)
Page
11
Part XIV
Supplementary Information
(continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient
If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
Foundation
status of
recipient
Purpose of grant or
contribution
Amount
Name and address (home or business)
a
Paid during the year
92ND STREET Y
1395 LEXINGTON AVENUE
NEW YORK
,
NY
10128
NONE
PC
TO ASSIST IN THE PROMOTING OF CIVIC LIFE WITHIN THE CONTEXT OF JEWISH VALUES AND AMERICAN PLURALISM.
50,000
ACE PROGRAMS FOR THE HOMELESS
30-30 NORTHERN BLVD SUITE B100
LONG ISLAND CITY
,
NY
11101
NONE
PC
TO PROVIDE JOB TRAINING, WORK EXPERIENCE AND A LIFETIME SUPPORT NETWORK TO THE HOMELESS MEN AND WOMEN OF NEW YORK CITY.
25,000
AJC
3923 DEVONSHIRE LANE
PUEBLO
,
CO
81005
NONE
PC
TO ENHANCE THE WELL-BEING OF JEWISH PEOPLE AND ISRAEL.
100,000
ASPEN MUSIC FESTIVAL AND SCHOOL
225 MUSIC SCHOOL ROAD
ASPEN
,
CO
81611
NONE
PC
TO ENSURE THE WELL-BEING OF CLASSICAL MUSIC EDUCATION AND PERFORMANCE.
55,000
CARNEGIE HILL NEIGHBORS
170 E 91ST STREET
NEW YORK
,
NY
10128
NONE
PC
TO PRESERVE THE RESIDENTIAL CHARACTER AND ARCHITECTURAL HERITAGE OF CARNEGIE HILL AND ADMINISTERS QUALITY OF LIFE PROGRAMS THAT MAINTAIN THE NEIGHBORHOOD AS A SAFE AND BEAUTIFUL PLACE TO LIVE.
5,000
CENTER FOR EXCELLENCE IN EDUCATION
7918 JONES BRANCH DR SUITE 700
MCLEAN
,
VA
22102
NONE
PC
TO HELP ACADEMICALLY OUTSTANDING HIGH SCHOOL AND COLLEGE STUDENTS ACHEIVE SUCCESSFUL CAREERS IN SCIENCE AND TECHNOLOGY AND FULFILL LEADERSHIP ROLES.
50,000
CENTER FOR INITIATIVES IN JEWISH EDUCATION
45 BROADWAY
NEW YORK
,
NY
10006
NONE
PC
TO GIVE GUIDANCE AND ASSISTANCE TO JEWISH EDUCATIONAL INSTITUTIONS.
50,000
CENTRAL PARK CONSERVANCY
14 EAST 60TH ST
NEW YORK
,
NY
10022
NONE
PC
TO PRESERVE AND CELEBRATE CENTRAL PARK AS A SANCTUARY FROM THE PACE AND PRESSURES OF CITY LIFE, ENHANCING THE ENJOYMENT AND WELLBEING OF ALL.
135,000
CHABAD HOUSE
770 EASTERN PARKWAY SUITE 405
BROOKLYN
,
NY
11213
NONE
PC
TO SUPPORT PROGRAMS, ACTIVITIES, AND SERVICES FOR THE LOCAL JEWISH COMMUNITY AND TOURISTS.
89,000
CITY PARKS FOUNDATION
830 5TH AVE
NEW YORK
,
NY
10065
NONE
PC
TO ENCOURAGE NEW YORKERS TO USE THEIR NEIGHBORHOOD PARKS BY JOINING FREE ENVIRONMENTAL EDUCATION, ARTS, SPORTS, AND COMMUNITY BUILDING PROGRAMS.
70,000
COUNCIL ON FOREIGN RELATIONS
58 EAST 68TH STREET
NEW YORK
,
NY
10065
NONE
PC
TO SUPPORT ONGOING ACTIVITIES FOR THE THINK-TANK INCLUDING RESEARCH AND ANALYSIS.
1,054,500
GABRIELLE'S ANGEL FOUNDATION
14 PENN PLAZA SUITE 1704
NEW YORK
,
NY
10122
NONE
EOF
TO FUND RESEARCH TO IMPROVE THE EFFICACY OF CANCER TREATMENTS.
83,333
GREATER NEW YORK COUNCILS BOY SCOUTS OF AMERICA
5TH AVENUE SUITE 10118
NEW YORK
,
NY
10118
NONE
PC
TO BUILD PROGRAMS THAT HELP YOUNG PEOPLE DEVELOP AND LIVE BETTER LIVES.
50,000
HARVARD UNIVERSITY BUSINESS SCHOOL
124 MOUNT AUBURN ST
CAMBRIDGE
,
MA
02138
NONE
PC
TO SUPPORT THE MISSION OF HARVARD TO EDUCATE THE CITIZENS AND CITIZEN-LEADERS FOR OUR SOCIETY.
200,000
HOPE FOR DEPRESSION RESEARCH FOUNDATION
40 WEST 57TH STREET SUITE 1440
NEW YORK
,
NY
10019
NONE
EOF
TO HELP THE FOUNDATION FUND DEPRESSION RESEARCH.
60,000
HORACE MANN SCHOOL
231 WEST 246TH STREET
BRONX
,
NY
10471
NONE
PC
TO EDUCATE CAPABLE YOUNG MINDS IN SOCIALLY SIGNIFICANT WAYS.
55,000
LAKE AGAWAM CONSERVANCY
PO BOX 5019
SOUTHAMPTON
,
NY
11969
NONE
PC
TO CLEANSE AND PRESERVE LAKE AGAWAM AND ITS SURROUNDING ECOSYSTEM FOR THE SAKE OF PUBLIC HEALTH AND CIVIC ENJOYMENT OF A SHARED NATURAL RESOURCE.
50,000
MANHATTAN INSTITUTE FOR POLICY RESEARCH
52 VANDERBUILT AVE RM 201
NEW YORK
,
NY
10017
NONE
PC
TO SUPPORT THE DEVELOPMENT OF NEW IDEAS THAT FOSTER GREATER ECONOMIC CHOICE AND INDIVIDUAL RESPONSIBILITY.
200,000
MULTIPLYING GOOD
15 W 38TH ST
NEW YORK
,
NY
10018
NONE
PC
TO SUPPORT AND DEVELOP YOUTH LEADERS IN SERVICE.
25,000
NEW YORK UNIVERSITY
726 BROADWAY
NEW YORK
,
NY
10003
NONE
PC
TO SUPPORT NEW YORK UNIVERSITY AND THEIR MISSION RELATING TO EDUCATION.
10,000,000
PRESIDENT & FELLOWS OF HARVARD COLLEGE
1350 MASSACHUSETTS AVENUE FLOOR 6
672
CAMBRIDGE
,
MA
02135
NONE
PC
TO SUPPORT THE MISSION OF HARVARD TO EDUCATE THE CITIZENS AND CITIZEN-LEADERS FOR OUR SOCIETY.
35,000,000
PRINCESS GRACE FOUNDATION- USA
150 E 58TH ST 2504
NEW YORK
,
NY
10155
NONE
PC
TO ELEVATE EXTRAORDINARY EMERGING ARTISTS IN THEATER, DANCE, AND FILM VIA AWARDS IN THE FORM OF GRANTS, SCHOLARSHIPS, AND FELLOWSHIPS.
50,000
PROSTATE CANCER FOUNDATION
1250 FOURTH STREET
SANTA MONICA
,
CA
90401
NONE
EOF
TO SUPPORT THE FOUNDATION'S EFFORTS IN CANCER RESEARCH.
275,000
SOUTHAMPTON BATH AND TENNIS CLUB
212 GIN LN
SOUTHAMPTON
,
NY
11968
NONE
PC
TO RAISE AND CONTRIBUTE FUNDS TO LOCAL, LESS VISIBLE CHARITIES AND CIVIC ORGANIZATIONS WHOSE FOCUS IS THE LOCAL SOUTHAMPTON COMMUNITY.
18,400
SPONSORS FOR EDUCATIONAL OPPORTUNITY
55 EXCHANGE PLACE
NEW YORK
,
NY
10005
NONE
PC
TO HELP PROVIDE SUPERIOR EDUCATIONAL AND CAREER PROGRAMS TO YOUNG PEOPLE FROM UNDERSERVED AND UNDERREPRESENTED COMMUNITIES.
50,000
STANDWITHUS
PO BOX 341069
LOS ANGELES
,
CA
90034
NONE
PC
TO INSPIRE AND EDUCATE PEOPLE OF ALL AGES AND BACKGROUNDS, TO CHALLEGE MISINFORMATION AND TO FIGHT ANTISEMITISM.
50,000
SUCCESS ACADEMY CHARTER SCHOOLS
95 PINE STREET FLOOR 6
NEW YORK
,
NY
10005
NONE
PC
TO PROVIDE STUDENTS OF ALL BACKGROUND WITH HIGH QUALITY EDUCATION.
250,000
TEL AVIV MUSEUM'S AMERICAN FRIENDS INC
1201 BROADWAY 507
NEW YORK
,
NY
10001
NONE
PC
TO HELP SUSTAIN THE MUSEUM'S PROGRAMMING, CONSERVATION, AND RESEARCH.
5,000,000
THE CATHEDRAL CHURCH OF ST JOHN THE DIVINE
1047 AMSTERDAM AVE
NEW YORK
,
NY
10025
NONE
PC
TO PROVIDE MEALS FOR THE HUNGRY, CLOTHING AND ESSENTIAL HOUSEHOLD GOODS FOR THE HOUSING INSECURE, AFFORDABLE PRE-SCHOOL, AFTER-SCHOOL AND SUMMER CAMP PROGRAMS, MUSIC AND ARTS, AND VIRTUAL AND IN-PERSON WORSHIP AND PASTORAL CARE.
500
THE FRICK COLLECTION
1 EAST 70TH STREET
NEW YORK
,
NY
10021
NONE
PC
TO SERVE AS A CENTER FOR RESEARCH AND TO STIMULATE SCHOLARSHIP IN THE HISTORY OF ART, AND THE HISTORY OF COLLECTING WORKS OF ART IN THE WESTERN TRADITION, FROM THE FOURTH TO THE MID-TWENTIETH CENTURIES.
10,000
THE METROPOLITAN MUSEUM OF ART
1000 5TH AVE
NEW YORK
,
NY
10028
NONE
PC
TO HELP SUSTAIN THE MUSEUM'S PROGRAMMING, CONSERVATION, AND RESEARCH.
59,935
THE NEIGHBORHOOD PLAYHOUSE INC
340 E 54TH ST
NEW YORK
,
NY
10022
NONE
PC
TO SUPPORT NEW AND INNOVATIVE PROGRAMS ESSENTIAL TO THE EDUCATION AND SUCCESS OF STUDENTS.
10,000
THE NEW YORK PUBLIC LIBRARY
476 FIFTH AVENUE
NEW YORK
,
NY
10018
NONE
PC
TO HELP THE LIBRARY PROVIDE BOOK, CLASSES, AND MORE.
50,000
THE PUBLIC THEATER
425 LAFAYETTE ST
NEW YORK
,
NY
10003
NONE
PC
TO SUPPORT PRODUCTIONS, ARTISTIC PROGRAMS, AND THE ABILITY TO CULTIVATE COMMUNITY.
50,000
THE SCHWARZMAN ANIMAL MEDICAL CENTER
510 EAST 62ND STREET
NEW YORK
,
NY
10065
NONE
PC
TO PROVIDE COMPASSIONATE AND COLLABORATIVE CARE TO COMPANION ANIMALS AND TO LEAD THE ADVANCEMENT OF VETINARY MEDICINE THROUGH CLINICAL RESEARCH AND EDUCATION.
25,000
THE UJA FEDERATION
130 EAST 59TH STREET
NEW YORK
,
NY
10022
NONE
PC
TO FEED THE HUNGRY, ENHANCE MENTAL HEALTH SERVICES, AND SUSTAIN JEWISH INSTITUTIONS.
1,500,000
Total
.................................
3a
54,805,668
b
Approved for future payment
Total
.................................
3b
0
Form
990-PF
(2021)
Form 990-PF (2021)
Page
12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated.
Unrelated business income
Excluded by section 512, 513, or 514
(e)
Related or exempt
function income
(See instructions.)
1
Program service revenue:
(a)
Business code
(b)
Amount
(c)
Exclusion code
(d)
Amount
a
b
c
d
e
f
g
Fees and contracts from government agencies
14
480,215
2
Membership dues and assessments
....
3
Interest on savings and temporary cash
investments
...........
4
Dividends and interest from securities
....
5
Net rental income or (loss) from real estate:
a
Debt-financed property
......
b
Not debt-financed property
.....
6
Net rental income or (loss) from personal property
7
Other investment income
.....
8
Gain or (loss) from sales of assets other than
inventory
............
18
-118,509,834
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
-118,029,619
0
13
Total.
Add line 12, columns (b), (d), and (e)
..................
13
-118,029,619
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form
990-PF
(2021)
Form 990-PF (2021)
Page
13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1)
Cash
...................................
1a(1)
No
(2)
Other assets
.................................
1a(2)
No
b
Other transactions:
(1)
Sales of assets to a noncharitable exempt organization
....................
1b(1)
No
(2)
Purchases of assets from a noncharitable exempt organization
..................
1b(2)
No
(3)
Rental of facilities, equipment, or other assets
.......................
1b(3)
No
(4)
Reimbursement arrangements
...........................
1b(4)
No
(5)
Loans or loan guarantees
.............................
1b(5)
No
(6)
Performance of services or membership or fundraising solicitations
................
1b(6)
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees
..............
1c
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column
(b)
should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column
(d)
the value of the goods, other assets, or services received.
(a)
Line No.
(b)
Amount involved
(c)
Name of noncharitable exempt organization
(d)
Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527?
...........
Yes
No
b
If "Yes," complete the following schedule.
(a)
Name of organization
(b)
Type of organization
(c)
Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return
with the preparer shown below?
See instructions.
Yes
No
Signature of officer or trustee
Date
Title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's Signature
Date
Check if self-
employed
PTIN
Firm's name
Firm's EIN
Firm's address
Phone no.
Form
990-PF
(2021)
Additional Data
Software ID:
Software Version:
Form 990PF - Special Condition Description:
Special Condition Description