Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
The Picard Family Foundation
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

81-4548446
B Telephone number (see instructions)

(800) 839-1754
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$3,838,480J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 432 432  
4 Dividends and interest from securities... 100,005 100,005  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 378,413
b Gross sales price for all assets on line 6a 1,632,953
7 Capital gain net income (from Part IV, line 2)... 378,413
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........ 478,850 478,850  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 73,894 73,894    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 12,626 3,032    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 26,585 1,020   25,565
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 113,105 77,946   25,565
25 Contributions, gifts, grants paid....... 360,000 360,000
26 Total expenses and disbursements. Add lines 24 and 25 473,105 77,946   385,565
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 5,745
b Net investment income (if negative, enter -0-) 400,904
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 99,416 76,922 76,922
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) 105,641 Click to see attachment91,524 90,528
b Investments—corporate stock (attach schedule)....... 2,875,980 Click to see attachment2,878,932 3,107,434
c Investments—corporate bonds (attach schedule)....... 344,443 Click to see attachment377,686 369,381
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 190,857 Click to see attachment197,018 194,215
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,616,337 3,622,082 3,838,480
Liabilities 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 bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 3,616,337 3,622,082
30 Total net assets or fund balances (see instructions)..... 3,616,337 3,622,082
31 Total liabilities and net assets/fund balances (see instructions). 3,616,337 3,622,082
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
3,616,337
2
Enter amount from Part I, line 27a .....................
2
5,745
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
3,622,082
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
3,622,082
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly-traded Securities      
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 1,632,953   1,254,540 378,413
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       378,413
b
c
d
e
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 2 378,413
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 238,317 4,354,753 0.054726
2016 199,584 3,936,588 0.0507
2015 212,219 4,110,379 0.05163
2014 189,783 4,153,021 0.045698
2013 146,471 3,818,038 0.038363
2
Total of line 1, column (d) .....................
2
0.241117
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
0.048223
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
4,364,936
5
Multiply line 4 by line 3......................
5
210,490
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
4,009
7
Add lines 5 and 6........................
7
214,499
8
Enter qualifying distributions from Part XII, line 4,.............
8
385,565
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 4,009
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 4,009
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 4,009
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 9,658
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 9,658
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 5,649
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet4,100 RefundedBullet 11 1,549
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
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)
    bulletDE
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........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
    Alexandra Picard Dir, Pres, Treas
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Caroline Picard Dir, Sec
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Peter Picard Dir, VP
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
     
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    UBS Financial Services Inc Investment Mgmt 73,894
    1285 Ave of the Americas 15-18th Fl
    NEW YORK,NY100196031
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    4,093,744
    b
    Average of monthly cash balances.......................
    1b
    149,592
    c
    Fair market value of all other assets (see instructions)................
    1c
    188,071
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,431,407
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    4,431,407
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    66,471
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    4,364,936
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    218,247
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    218,247
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    4,009
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,009
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    214,238
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    214,238
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    214,238
    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
    385,565
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    385,565
    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
    4,009
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    381,556
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 214,238
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 129,737
    b Total for prior years:2016, 2015, 2014  
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 385,565
    a Applied to 2017, but not more than line 2a 129,737
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2018 distributable amount..... 214,238
    e Remaining amount distributed out of corpus 41,590
    5 Excess distributions carryover applied to 2018.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 41,590
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		41,590
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018.... 41,590
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    ALEXANDRA PICARD
    CAROLINE PICARD
    PETER PICARD
    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 email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    BEARGRASS WRITERS WORKSHOP
    1409 DICKINSON ST
    MISSOULA,MT59802     		N/A PC General & Unrestricted 57,800
    EVERY HOUSE HAS A DOOR NFP
    1144 N HOYNE AVE
    CHICAGO,IL60622     		N/A PC General & Unrestricted 2,000
    GROTON SCHOOL
    282 FARMERS ROW
    GROTON,MA01450     		N/A PC GRAIN (GRoton Affordability and INclusion) Fund 5,000
    KENNING EDITIONS NFP
    3147 W LOGAN BLVD STE 7
    CHICAGO,IL60647     		N/A PC General & Unrestricted 10,000
    MAKE LITERARY PRODUCTIONS NFP
    2822 W DICKENS AVE 3
    CHICAGO,IL60647     		N/A PC General & Unrestricted 3,000
    NEW YORK SUN WORKS INC
    4TH FL STE 432
    NEW YORK,NY10023     		N/A PC General & Unrestricted 1,000
    NORTHWEST SYMPHONY ORCHESTRA
    PO BOX 16231
    SEATTLE,WA98116     		N/A PC General & Unrestricted 6,500
    ROCKHOUSE FOUNDATION
    2 CORNELIA ST STE 12C
    NEW YORK,NY10014     		N/A PC General & Unrestricted 18,200
    RUSSIAN CHILDRENS WELFARE SOCIETY INC
    200 PARK AVE S STE 1508
    NEW YORK,NY10003     		N/A PC General & Unrestricted 8,000
    SHOTGUN PRODUCTIONS INC
    165 E 35TH ST APT 7J
    NEW YORK,NY10016     		N/A PC PIVOT fund 30,000
    SIXTY INCHES FROM CENTER
    436 E 47TH ST
    CHICAGO,IL60653     		N/A PC General & Unrestricted 10,000
    ST JOHNS COLLEGE
    60 COLLEGE AVE
    ANNAPOLIS,MD21401     		N/A PC Freeing Minds campaign 90,000
    VILLA ACADEMY
    5001 NE 50TH ST
    SEATTLE,WA98105     		N/A PC General & Unrestricted 113,500
    WOODLAND PATTERN INC
    720 E LOCUST ST
    MILWAUKEE,WI53212     		N/A PC General & Unrestricted 5,000
    Total .................................bullet 3a 360,000
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 432  
    4 Dividends and interest from securities....     14 100,005  
    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 ............     		    18 378,413  
    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)..   478,850  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    478,850
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


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


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    Form 990PF - Special Condition Description:
    Special Condition Description

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    TY 2018 DepreciationSchedule
    Name:
    The Picard Family Foundation
    EIN:
    81-4548446
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    The Picard Family Foundation
    EIN:
    81-4548446
    Name of Bond End of Year Book Value End of Year Fair Market Value
    21ST CENTY FOX AMER INC BND - 7,623 7,187
    ABBVIE INC - 3.600% - 05/14/20 8,627 8,644
    AMERICAN INTL GROUP - 4.125% - 8,056 8,033
    AMGEN INC NOTE - 2.650% - 05/1 6,755 6,843
    ANHEUSER BUSCH INBEVFIN INC - 7,436 6,492
    ANTHEM INC NOTE - 4.101% - 03/ 8,050 7,841
    APPLE INC - 2.500% - 02/09/202 8,478 8,497
    AT&T INC BOND - 3.400% - 05/15 7,617 7,533
    BANK NEW YORK - 3.650% - 02/04 7,074 7,014
    BANK OF MONTREAL MTN - 1.900% 7,929 7,727
    BNP PARIBAS - 3.250% - 03/03/2 7,767 7,861
    BP CAPITAL MKTS - 3.814% - 02/ 8,543 8,074
    CAPITAL ONE FINANCIAL CO NOTE 8,999 8,512
    CATERPILLAR INC - 1.350% - 05/ 7,978 7,952
    CITIGROUP INC NOTE - 4.600% - 7,999 7,896
    COMCAST CORP - 3.000% - 02/01/ 8,001 7,805
    CSX CORP - 0.000% - 11/01/2026 7,872 7,278
    CVS CAREMARK CORP NOTE - 4.300 6,947 6,843
    DEERE JOHN CAP CORP S BE MTN - 6,969 6,866
    DEUTSCHE BANK BOND - 3.125% - 3,987 3,871
    DUKE ENERGY CORP - 3.750% - 04 7,971 8,013
    ENERGY TRANSFER PARTNERD DTD - 7,798 7,508
    ENTERPRISE OPER LLC - 2.550% - 7,170 6,963
    EQT CORP - 3.000% - 10/01/2022 7,717 7,586
    EXPRESS SCRIPTS NOTE - 4.500% 8,462 8,108
    GENERAL MTRS FINL COINC NOTE - 7,667 7,364
    GOLDMAN SACHS GROUP INC - 4.00 7,010 6,907
    HSBC HLDGS PLC NOTE - 5.100% - 8,902 8,273
    INTERNATIONAL BUSINESS MACHINE 7,307 7,188
    JP MORGAN CHASE NOTE - 0.000% 8,088 7,728
    KINDER MORGAN EP - 4.150% - 02 8,056 7,946
    MCDONALDS CORP NT - 5.000% - 0 6,494 6,009
    MCKESSON CORP NEW NOTE - 3.950 8,020 7,673
    METLIFE INC - 4.368% - 09/15/2 7,563 7,207
    MORGAN STANLEY SR NT-F - 3.750 8,025 7,978
    ORACLE CORP - 2.950% - 05/15/2 7,658 7,656
    ORIX CORPORATION - 2.900% - 07 8,068 7,817
    ROYAL BANK OF CANADA - 2.150% 8,079 7,930
    SANTANDER UK PLC NOTE - 2.375% 7,100 6,924
    SHELL INTL FIN NT - 6.375% - 1 7,877 7,580
    STARBUCKS CORP - 3.800% - 08/1 7,956 7,911
    SYNCHRONY FINL - 3.000% - 08/1 8,047 7,947
    UNITED TECHNOLOGIES CORP - 3.6 7,951 7,969
    UNITEDHEALTH GROUP INC - 5.800 6,419 7,082
    VIACOM INC - 6.875% - 04/30/20 7,425 7,512
    VIRGINIA ELECTRIC & POWER COMP 8,009 8,034
    VODAFONE GROUP PLC - 6.150% - 6,967 7,337
    WELLS FARGO CO MTN BE - 3.300% 8,175 7,739
    WESTPAC BANKING CP - 2.500% - 8,998 8,723

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    The Picard Family Foundation
    EIN:
    81-4548446
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AAR CORP 6,664 5,937
    AARON'S INC 5,422 4,962
    ACADIA RLTY TR 2,097 1,616
    ADIDAS AG 9,576 8,660
    ADT LTD 20,068 10,842
    ADTALEM GLOBAL EDUCATION INC 6,551 6,199
    AIA GROUP LTD ADR 12,252 20,550
    ALBANY INTERNATIONAL CORP 3,038 3,621
    ALIBABA GROUP HOLDING LTD 39,955 59,899
    ALPHABET INC CL A 6,617 21,944
    ALPHABET INC CL C 32,311 60,064
    AMAZON COM 12,347 49,564
    AMER INTERNATIONAL GROUP INC 33,533 28,296
    AMERICAN AIRLINES GROUP INC 15,420 11,560
    AMERICAN ASSETS TRUST INC 3,298 3,455
    AMERICAN CAMPUS COMMUNITIES 4,053 4,056
    AMERICAN EXPRESS CO 7,294 9,913
    AMERICAN HOMES 4 RENT 3,136 3,375
    AMERICAN WOODMARK CORP 5,425 3,564
    AMERICOLD REALTY TRUST 3,294 3,320
    AMGEN INC 4,478 14,990
    AMN HEALTHCARE SERVICES INC 3,125 3,740
    AON PLC 7,569 13,518
    APACHE CORPORATION 15,019 8,006
    APPLE INC 18,530 18,298
    ASML HOLDING NV NY REG SHS 13,468 19,453
    ASSA ABLOY UNSP/ADR 14,545 12,764
    AUTODESK, INC 7,534 30,865
    AUTOMATIC DATA PROCESSING INC 2,809 7,867
    AVALONBAY CMNTYS INC 7,628 8,354
    AXALTA COATING SYSTEMS LTD 11,667 10,188
    BANK NEW YORK MELLON CORP COM 14,257 12,803
    BANK OF AMERICA CORP 16,725 20,772
    BAXTER INTERNATIONAL INC 5,648 8,359
    BAYER A G SPONSORED ADR 18,343 12,246
    BLACKROCK INC 15,834 15,713
    BLUCORA, INC. 6,188 4,982
    BOOKING HOLDINGS INC 20,136 20,669
    BOOZ ALLEN HAMILTON HOLDING CO 5,826 7,932
    BOSTON PPTYS INC 7,264 6,753
    BRADY CP CL A 6,726 6,910
    BRANDYWINE RLTY TR 2,245 1,686
    BRINKS CO 9,954 9,245
    BROWN & BROWN INC 6,871 8,461
    CACI INTL INC 5,809 6,913
    CALLON PETROLEUM CO 2,774 1,655
    CAMDEN PPTY TR 2,760 2,906
    CAMECO CORPORATION 14,835 11,044
    CANADIAN PACIFIC RAILWAY LTD 18,929 20,959
    CARLISLE COS INC 22,164 19,903
    CARMAX INC 6,462 8,029
    CARNIVAL CORP PLC 25,295 24,365
    CARTER'S INC 7,753 6,040
    CASELLA WASTE SYSTEMS INC 2,127 2,536
    CATERPILLAR INC 6,618 11,563
    CERNER CORPORATION 17,778 16,152
    CHARLES SCHWAB CORP 25,554 23,174
    CHARTER COMMUNICATIONS, INC 24,458 28,496
    CHEMICAL FINANCIAL CORP 8,798 6,700
    CHR HANSEN HOLDINGS 10,231 10,338
    CISCO SYSTEMS INC 9,259 22,705
    CISION LTD 3,769 3,346
    CITIGROUP INC 19,931 21,345
    COLGATE-PALMOLIVE COMPANY 17,529 14,642
    COMCAST CORP 15,749 20,055
    CONTL AG SPONS ADR 14,376 9,177
    CORECIVIC INC 7,136 5,367
    CREDIT SUISSE GROUP ADR 32,456 17,756
    CSL LTD 7,428 9,059
    CUBESMART 3,630 3,988
    CUMMINS INC 4,713 6,415
    CYBERARK SOFTWARE LTD 4,397 7,043
    DBS GROUP HLDGS SPON ADR 17,755 20,846
    DEERE CO 12,209 21,630
    DIAGEO PLC ADS 12,188 15,173
    DIGITAL RLTY TR INC 5,944 6,606
    DIODES 4,214 3,678
    DOUGLAS EMMETT INC 2,659 2,901
    DUKE REALTY CORPORATION 4,712 4,636
    DUNKIN' BRANDS GROUP INC 3,489 4,168
    DXC TECHNOLOGY COMPANY 11,762 7,816
    EASTERLY GVMT PPTYS INC 1,746 1,443
    EMPIRE STATE REALTY TRUST 2,847 2,263
    ENTERPRISE FINANCIAL SERVICES 6,871 4,854
    EQUIFAX INC 13,993 11,269
    EQUINIX, INC 2,179 1,763
    EQUITY LIFESTYLE PRP 2,123 3,108
    ESSEX PRTY TR INC 6,409 6,375
    ESSILOR INTL ADR 16,164 16,232
    EXPEDITORS INTL WASH INC 15,406 22,946
    EXTENDED STAY AMERICA INC 2,388 2,279
    FABRINET INC 3,568 5,541
    FACEBOOK INC 28,354 52,959
    FACTSET RESH SYST INC 6,883 13,409
    FEDERAL RLTY INVT TR 3,528 3,187
    FIRST BANCORP 5,437 4,442
    FIRST FINANCIAL BANCORP 6,374 7,448
    FIRST MERCHANTS CORPORATION 5,591 6,546
    FIRSTCASH INC 2,676 3,400
    FRANKLIN ELECTRIC CO., INC 3,106 3,859
    GENERAL ELECTRIC CO 43,424 14,406
    GENERAL MOTORS 24,689 25,656
    GENMAB A/S 17,555 16,068
    GRAFTECH INTERNATIONAL LTD 7,436 4,565
    GRAPHIC PACKAGING CORP COM STK 6,451 5,373
    GREEN DOT CORP A 3,091 3,101
    GRIFOLS SA REP 1/2 CL B 8,653 10,025
    GROUPE DANONE ADS 20,637 21,068
    HALLIBURTON COMPANY 9,963 9,383
    HCA INC 8,639 14,187
    HDFC BANK LTD ADR 8,599 22,168
    HEALTH CARE PPTY INVS INC 5,029 5,949
    HEALTHCARE TRUST OF AMERICA IN 4,081 3,518
    HEXAGON 13,319 10,811
    HILLENBRAND, INC 2,872 3,376
    HILTON WORLDWIDE HOLDINGS, INC 29,888 27,212
    HOST HOTELS & RESORTS INC 4,602 4,384
    HOWARD HUGHES CORPORATION 1,785 1,367
    INFINEON TECH ADS 11,075 9,375
    INTEGRA LIFESCIENCES HOLDINGS 5,642 5,232
    INTEGRATED DEVICE TECHNOLOGY I 5,101 9,783
    KAO CORP 10,262 15,198
    KAR AUCTION SERVICES INC 4,438 5,583
    KIMBERLY CLARK 15,294 13,291
    KOSMOS ENERGY LTD 4,628 2,597
    LAKELAND FINANCIAL CORPORATION 3,596 4,257
    LANDSTAR SYSTEM 6,919 5,740
    LANTHEUS HOLDINGS INC 3,154 2,974
    LATTICE SEMICONDUCTOR 1,700 1,765
    LEAR CORP 26,872 18,920
    LITTELFUSE, INC 7,021 6,345
    LIVANOVA PLC 3,959 4,665
    LOGMEIN, INC 5,870 4,160
    LONDON STK EXCHANGE GROUP 10,336 13,467
    LOOMIS SAYLES HIGH INCOME OPPO 113,461 102,297
    LOOMIS SAYLES SECURITIZED ASSE 371,406 338,015
    LPL FINANCIAL HOLDINGS INC 8,379 8,612
    LUXOFT HOLDING INC 4,878 3,529
    LVMH MOET HENN UNSP 11,952 17,480
    MANULIFE FIN CORP 23,954 20,093
    MASCO CORP 9,307 9,474
    MASTERCARD INC 898 8,678
    MAXLINEAR INC 7,950 6,090
    MERCK & CO INC 5,040 10,850
    MERIDIAN BIOSCIENCE INC 1,566 1,753
    MGIC INVESTMENT CORP 6,858 6,245
    MGM RESORTS INTERNATIONAL 16,474 16,448
    MICROSOFT CORP 11,902 26,002
    MONSTER BEVERAGE CORP 9,554 24,758
    MOODYS CORP 15,642 21,426
    MOOG INC CL A 1,979 1,782
    MULTI-COLOR CORPORATION 4,237 2,140
    NATIONAL RETAIL PROPERTIES INC 2,124 2,280
    NATIONAL STORAGE AFFILIATES TR 3,934 4,313
    NATL OILWELL VARCO 14,842 12,002
    NATUS MEDICAL INCORPORATED 4,259 4,356
    NESTLE S.A 24,254 27,607
    NETFLIX INC 14,453 23,286
    NEWPARK RESOURCES 4,194 2,741
    NEXSTAR MEDIA GROUP, INC 6,342 7,707
    NIDEC CORPORATION ADR 9,730 16,297
    NINTENDO CO LTD ADR UNSPON 21,995 14,829
    NOVARTIS AG ADR 11,931 14,588
    NOVO NORDISK A S 19,661 22,160
    NUVASIVE, INC 1,948 2,032
    NXP SEMICONDUCTORS 23,878 20,885
    OIL STATES INTL INC 2,473 1,085
    ORACLE CORP 45,067 48,535
    PACIFIC PREMIER BANCORP INC 7,056 5,742
    PANDORA A S SPON ADREACH REP 0 29,303 11,614
    PENN REAL ESTATE INV TRUST 2,112 1,081
    PERFORMANCE FOOD GROUP COMPANY 5,987 5,841
    PERSPECTA INC 7,209 5,269
    PHILIP MORRIS INTL 16,516 10,882
    PIEDMONT OFFICE REALTY TRUST I 2,311 2,130
    PING AN INSURANCE GROUP ADR 13,841 25,981
    PLATFORM SPECIALTY PRODUCTS CO 6,357 5,454
    POST HOLDINGS INC 12,107 11,854
    POWER INTEGRATIONS, INC 1,281 1,281
    PRA HEALTH SCIENCES INC COM 2,504 3,403
    PRESIDIO INC 4,393 3,719
    PROCTER GAMBLE CO 18,793 22,980
    PROLOGIS 2,948 3,406
    PROPETRO HOLDING CORP 2,207 1,318
    PRUDENTIAL PLC SC 16,188 18,286
    PUBLIC STORAGE INC 4,904 4,858
    QUALCOMM INC 22,357 21,626
    REGENERON PHARMACEUTICALS INC 41,946 45,193
    RETAIL PROPERTIES OF AMERICA A 4,174 3,071
    REV GROUP INC 2,893 969
    REXFORD INDUSTRIAL REALTY INC 2,641 4,155
    RLJ LODGING TRUST 2,178 1,558
    ROYAL DUTCH SHEL PLC SPONS ADR 14,112 16,723
    SAP AKTIENGESELL ADS 9,279 8,860
    SCHLUMBERGER LTD 25,917 13,277
    SEI INVESTMENTS 7,753 17,325
    SELECTIVE INS GROUP INC 6,620 6,703
    SEVEN & I HOLDINGS C 17,278 19,187
    SIEMENS AG 20,295 21,535
    SILICON LABORATORIES, INC 4,277 5,044
    SIMON PPTY GROUP INC 12,844 12,431
    SOFTBANK CP UNSP ADR 15,398 16,039
    SOUTHERN COPPER CORP 10,424 10,431
    SOUTHWEST AIRLINES 12,211 10,319
    SOUTHWEST GAS CP 9,304 9,410
    SPIRE INC 7,295 8,223
    STARBUCKS CORP COM 21,397 24,150
    STORE CAPITAL CORPORATION 2,026 2,463
    SYMRISE AG UNSPONSORED 10,465 10,316
    TAIWAN SEMICONDUCTOR MFG CO LT 14,227 13,620
    TAUBMAN CENTERS INC 2,672 1,638
    TCP CAPITAL CORPORATION 2,247 1,813
    TEGNA 6,816 5,663
    TENCENT HOLDINGS LIMITED 13,551 19,143
    THE COCA-COLA CO 17,236 21,213
    THOR INDS INC 23,658 14,924
    TORAY INDUSTRIES INC 25,802 21,662
    TWO HARBORS INVESTMENT CORP 6,820 5,894
    UNDER ARMOUR INC CL C 6,013 5,757
    UNION FIRST MARKET BANKSHARES 6,137 6,352
    UNIT CP 2,024 1,357
    UNITED COMMUNITY BANKS, INC 9,208 6,803
    UNITED PARCEL SERVICE 6,330 8,388
    US XPRESS ENTERPRISES INC 1,960 774
    USD CYRUSONE INC 2,620 2,432
    VARIAN MEDICAL SYSTEMS INC 8,067 14,844
    VENATOR MATERIALS PLC 2,829 821
    VICI PROPERTIES INC 2,936 2,629
    VIRTU FINANCIAL INC 3,340 3,529
    VISA INC 19,208 69,268
    VORNADO RLTY TR 1,397 1,117
    WASH REAL EST INV TR MARYLAND 1,924 1,334
    WELLS FARGO & CO 14,481 21,704
    WELLTOWER INC. 6,278 6,525
    WOLVERINE WORLDWIDE 4,414 3,891
    YUM BRANDS INC 8,629 15,075
    YUM CHINA HOLDINGS INC 7,872 10,394

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    The Picard Family Foundation
    EIN:
    81-4548446
    US Government Securities - End of Year Book Value:

    91,524
    US Government Securities - End of Year Fair Market Value:

    90,528
    State & Local Government Securities - End of Year Book Value:


     
    State & Local Government Securities - End of Year Fair Market Value:


     


    TY 2018 InvestmentsOtherSchedule2
    Name:
    The Picard Family Foundation
    EIN:
    81-4548446
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    A&Q MULTI-STRATEGY FUND   197,018 194,215

    TY 2018 OtherExpensesSchedule
    Name:
    The Picard Family Foundation
    EIN:
    81-4548446
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 21,030     21,030
    Administrative Set-Up Fee 3,150     3,150
    Bank Charges 1,020 1,020    
    Delaware Incorporation Fees 500     500
    IRS Application Fees 850     850
    State or Local Filing Fees 35     35


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    The Picard Family Foundation
    EIN:
    81-4548446
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 73,894 73,894    


    TY 2018 TaxesSchedule
    Name:
    The Picard Family Foundation
    EIN:
    81-4548446
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2018 4,300      
    990-PF Extension for 2017 5,294      
    Foreign Tax Paid 3,032 3,032