Form990-PF
Click to see list of attachments

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 Jain Foundation Inc
 
Number and street (or P.O. box number if mail is not delivered to street address)9725 Third Avenue NE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Seattle, WA98115
A Employer identification number

20-0284800
B Telephone number (see instructions)

(425) 882-1492
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$25,896,172J 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) 1,000
2 Check bullet.............
3 Interest on savings and temporary cash investments 8,061 8,061  
4 Dividends and interest from securities...      
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,792,393
b Gross sales price for all assets on line 6a 2,792,496
7 Capital gain net income (from Part IV, line 2)... 2,792,393
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)....... Click to see attachment 215,896    
12 Total. Add lines 1 through 11........ 3,017,350 2,800,454  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 427,000     427,000
14 Other employee salaries and wages...... 292,639     292,639
15 Pension plans, employee benefits....... 75,068     75,068
16a Legal fees (attach schedule)......... Click to see attachment 14,825     14,825
b Accounting fees (attach schedule)....... Click to see attachment 5,750     5,750
c Other professional fees (attach schedule).... Click to see attachment 42,004     42,004
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 52,453      
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 107,353     107,353
21 Travel, conferences, and meetings....... 24,255     24,255
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 687,779     687,779
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,729,126 0   1,676,673
25 Contributions, gifts, grants paid....... 1,610,982 1,610,982
26 Total expenses and disbursements. Add lines 24 and 25 3,340,108 0   3,287,655
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -322,758
b Net investment income (if negative, enter -0-) 2,800,454
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......... 1,146,980 834,095 834,095
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.......... 8,802 8,802 8,802
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 20,432,461 Click to see attachment20,432,358 25,051,865
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet1,410
Less: accumulated depreciation (attach schedule) bullet   1,410 Click to see attachment1,410 1,410
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment204,542 Click to see attachment1  
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 21,794,195 21,276,666 25,896,172
Liabilities 17 Accounts payable and accrued expenses.......... 18,743 28,442
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) Click to see attachment1  
23 Total liabilities (add lines 17 through 22)......... 18,744 28,442
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.................. 21,775,451 21,248,224
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 21,775,451 21,248,224
31 Total liabilities and net assets/fund balances (see instructions). 21,794,195 21,276,666
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
21,775,451
2
Enter amount from Part I, line 27a .....................
2
-322,758
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
86
4
Add lines 1, 2, and 3 ..........................
4
21,452,779
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
204,555
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
21,248,224
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 6,000 Berkshire Hathaway Incl Del B P   2018-05-31
b 5,700 Berkshire Hathaway Incl Del B P   2018-11-30
c Capital Gain Dividends      
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 1,198,311   53 1,198,258
b 1,251,846   50 1,251,796
c       342,339
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       1,198,258
b       1,251,796
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 2,792,393
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 4,567,676 26,371,187 0.17321
2016 4,778,593 25,914,773 0.18440
2015 4,579,194 19,447,830 0.23546
2014 5,582,028 23,001,296 0.24268
2013 3,813,730 23,984,328 0.15901
2
Total of line 1, column (d) .....................
2
0.994755
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
0.198951
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
26,528,832
5
Multiply line 4 by line 3......................
5
5,277,938
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
28,005
7
Add lines 5 and 6........................
7
5,305,943
8
Enter qualifying distributions from Part XII, line 4,.............
8
3,287,655
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 56,009
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 56,009
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 56,009
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 56,130
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 56,130
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 121
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  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (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
 
No
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)
    bulletNY, WA
    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 addressbullethttps://www.jain-foundation.org/
    14
    The books are in care ofbulletLaura Rufibach Telephone no.bullet (425) 882-1492

    Located atbullet9725 Third Avenue NE Suite 204SeattleWA ZIP+4bullet98115
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
    No
    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
    Ajit Jain Director
    3.00     		0    
    Island Drive
    Rye,NY10580
    Indrima Jain Director
    1.00     		0    
    Island Drive
    Rye,NY10580
    Akshay Jain CEO
    40.00     		89,250 12,500  
    Island Drive
    New York,NY10580
    Ajay Jain Director
    1.00     		0    
    Island Drive
    Rye,NY10580
    Doug Albrecht PhD Co-President
    40.00     		150,125 12,500  
    9725 Third Avenue NE Ste 204
    Seattle,WA98117
    Laura Rufibach PhD Co-President
    40.00     		150,125 12,500  
    9725 Third Avenue NE Ste 204
    Seattle,WA98117
    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
    Bradley Williams Director Research
    40.00     		109,013 15,500  
    9725 Third Avenue NE Suite 204
    Seattle,WA98117
    Sara Emmons Dir. Patient Relat
    40.00     		100,311 12,500  
    9725 Third Avenue NE Suite 204
    Seattle,WA98117
    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
    NONE
    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 While the focus of the Jain Foundation is LGMD2B, the resulting scientific advances and collaboration have a broader impact on human health through their relevance to other muscle disorders, degenerative diseases of tissues other than muscle, and normal aging. The Foundation is hands on in its approach to funding. We closely monitor progress of every project we fund and keep track of results and agreed upon timelines through quarterly detail oriented conference calls with researchers and site visits. Our goal continues to be to fund all possible approaches to a cure and have the patients diagnosed for when we identify treatment(s) so they are able to avail themselves of it. Contract Research Organizations: In 2018 we continued working with Contract Research Organizations (CROs) as an integral part of our therapy development program. CROs are companies that serve the drug development industry and provide specialized knowledge and infrastructure focused on drug discovery, such as robotic 351,285
    2 Patient Recruitment and Diagnosis: LGMD2B is very rare. An important goal of the Foundation is to be as clinical trial ready as possible. One aspect of this is to identify as many LGMD2B patients worldwide as possible. The rarity of the disease, the lack of knowledge regarding the need for genetic analysis on the part of both the patients and physicians, and the high cost of genetic analysis has made this process laborious and costly. In 2014 we launched a diagnosis program, called LGMD-diagnosis, using new low cost sequencing technology to diagnose not just our specific disease but 34 other similar diseases all at once. Consequently, we have also led the development of a consortium of family foundations that are all interested in finding their patients through our program. This program reduced the price of diagnosing each patient by 60% and we found 4 times more LGMD2B patients in the same amount of time. In this program more than 2300 individuals with some form of muscular dystrophy 191,307
    3 Clinical Outcome Study: Clinical trials frequently fail because testable outcomes are not well defined and are not sensitive enough to measure a small benefit from the treatment or drug being delivered. To find measurable outcomes for dysferlinopathy so that we can become trial ready, we launched a Clinical Outcome Study (COS) in late 2012. The Jain Foundation is funding the bulk of the study through a grant to Dr. Bushby and Dr. Volker Straub, Newcastle, UK and a grant for the statistical analysis of the data to Dr. Jacobs at CNMC, Washington, DC. In addition to funding, the Jain Foundation leads and manages the study on a daily basis. COS was performed at 15 centers (in the US, Europe, Japan and Australia) and involved the analysis of approximately 200 individuals suffering from dysferlinopathy. The study involved 6-8 clinic visits over 3-5 years for each patient. Each visit included medical, physiotherapy, and MRI/MRS assessments, as well as the collection of biological samples for 62,908
    4 Tools for Researchers: The Jain Foundation continued to actively identify and fund the development of research tools and resources that are needed to advance research in the dysferlin field. The Foundation is also committed to developing and providing frequently required reagents, the unavailability of which slows down research. In 2016, we began working with researchers to develop antibodies using state of the art technologies at Rockefeller University. This work continued into 2017 and 2018. In addition, we built a library of cell lines that are useful to study the disease. Finally, we continue to maintain large colonies of mice at the custom mouse breeding facility at Jackson Laboratories (Maine, US) for use in dysferlin related research. Information about these resources is disseminated to relevant researchers through e-mails and through the Foundations website. In 2017, we completed the development of several iPS cells from selected patients, carriers and controls that are now pub 317,433
    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
    26,394,550
    b
    Average of monthly cash balances.......................
    1b
    538,274
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    26,932,824
    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
     
    3
    Subtract line 2 from line 1d.........................
    3
    26,932,824
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    403,992
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    26,528,832
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,326,442
    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
    1,326,442
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    56,009
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    56,009
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,270,433
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    1,270,433
    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
    1,270,433
    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
    3,287,655
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    3,287,655
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,287,655
    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 1,270,433
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 2,703,379
    b From 2014...... 4,525,947
    c From 2015...... 3,644,614
    d From 2016...... 3,611,020
    e From 2017...... 3,330,168
    fTotal of lines 3a through e........ 17,815,128
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 3,287,655
    a Applied to 2017, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 1,270,433
    e Remaining amount distributed out of corpus 2,017,222
    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 19,832,350
    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) ...     		2,703,379
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		17,128,971
    10 Analysis of line 9:
    a Excess from 2014.... 4,525,947
    b Excess from 2015.... 3,644,614
    c Excess from 2016.... 3,611,020
    d Excess from 2017.... 3,330,168
    e Excess from 2018.... 2,017,222
    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).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    The Jain Foundation Inc
    9725 Third Avenue NE Ste 204
    Seatlle,WA98115
    (425) 882-1492
    See Foundation Website www.jain-foundation.org
    bThe form in which applications should be submitted and information and materials they should include:
    See Foundation Website www.jain-foundation.org
    cAny submission deadlines:
    There are no application deadlines
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    The explicit goal of the Jain Foundation is to expedite development of a treatment or cure for LGMD2B/Miyoshi. Any proposed project that does not have application to this disease will not be considered.
    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
    Univof Wisconsin Madison-Dr KSonnem
    1525 Linden Dr 333 Bock Labs
    Madison,WI53706     		NONE PC Scientific Research Grant 74,334
    Newcastle University-Dr Bushby
    16/17 Framlington Place
    New Castle uponTyne,TyneNE2 4AB
    UK     		NONE NC Natural History Project - Clinical Outcome Study 243,217
    Emory Genetics Lab - Dr Madhuri Heg
    2165 N Decatur Road
    Atlanta,GA30033     		NONE PC Scientific Research Grant 67,410
    University of Maryland-Dr Robert Bl
    655 W Baltimore Street
    Baltimore,MD21201     		NONE PC Scientific Research Grant 180,000
    Childrens Research Instit Marni Jac
    111 Michigan Avenue NW Suite 5400
    Washington DC,DC20010     		NONE PC Scientific Research Grant 62,000
    Rockefeller University Drs Chait Ro
    1230 York Avenue
    New York,NY10065     		NONE PC General Support 86,700
    Brigham and Women's Hospital Dr Kel
    101 Huntington Ave
    Boston,MA02199     		NONE PC Scientific Research Grant 56,967
    Columbia University
    622 W 113th Street
    New York,NY10025     		NONE PC General Support 100,000
    Center for Advanced Molecular
    194 Road 15 Sion
    Mumbai,Maharashtra400022
    IN     		NONE NC Scientific Research Grant 14,422
    Univ of British Columbia Dr Bernatc
    103-6190 Agronomy Road
    Vancouver,British ColumbiaV6T 1Z3
    CA     		NONE NC Scientific Research Grant 31,681
    Wayne State Dr Drescher
    1200 Lande MRB
    Detroit,MI48202     		NONE PC Scientific Research Grant 36,800
    Dr Michele Calos Stanford University
    300 Pasteur Drive
    Stanford,CA94305     		NONE PC Scientific Research Grant 95,828
    Fondazione Santa Lucia Dr Puri
    Via Del Fosso di Fiorano 64
    Rome   00143
    IT     		NONE NC Scientific Research Grant 15,101
    Duke University -Dr Bursac
    100 Science Dr 1138 CIEMAS
    Durham,NC27708     		NONE PC Scientific Research Grant 111,750
    Ohio State University Dr Weisleder
    473 W 10th Ave
    Columbus,OH43210     		NONE PC Scientific Research Grant 110,310
    Newcastle University-Dr Straub
    International Centre for Life Cent
    Newcastle Upon Tyne,Tyne and WearNE1 3BZ
    UK     		NONE NC Scientific Research Grant 324,462
    Total .................................bullet 3a 1,610,982
    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 8,061  
    4 Dividends and interest from securities....     14    
    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 ............     		        2,792,393
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aReturn of PRI     		    21 204,542  
    bUnused Grant Funds Return     21 11,354  
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   223,957 2,792,393
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    3,016,350
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

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


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


    Software ID: 18007218
    Software Version: 2018v3.1


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 AccountingFeesSchedule
    Name:
    The Jain Foundation Inc
    EIN:
    20-0284800
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Pradeep Agarwal, CPA 5,750 0 0 5,750

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    The Jain Foundation Inc
    EIN:
    20-0284800
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Name of Stock End of Year Book Value End of Year Fair Market Value
    134,395 Shares Berkshire Hathaway Inc. 20,432,358 25,051,865

    TY 2018 InvestmentsLandSchedule2
    Name:
    The Jain Foundation Inc
    EIN:
    20-0284800
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Auto./Transportation Equip.       1,410
    Furniture and Fixtures 1,410   1,410  

    TY 2018 LegalFeesSchedule
    Name:
    The Jain Foundation Inc
    EIN:
    20-0284800
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Brosnan & Hegler, LLP 14,825 0 0 14,825


    TY 2018 OtherAssetsSchedule
    Name:
    The Jain Foundation Inc
    EIN:
    20-0284800
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    Rounding   1  


    TY 2018 OtherDecreasesSchedule
    Name:
    The Jain Foundation Inc
    EIN:
    20-0284800
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Description Amount
    Cost basis adjustment 103
    Return of principal and imputed interest PRI 204,452


    TY 2018 OtherExpensesSchedule
    Name:
    The Jain Foundation Inc
    EIN:
    20-0284800
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Clinical Outcome Study direct costs 8,315     8,315
    Computer Services 3,765     3,765
    CRO Charles River Research Discovery Ser 270,798     270,798
    CRO Jackson Laboratories 307,634     307,634
    CRO Proof Center of Excellence 31,500     31,500
    Filing fees 10     10
    Insurance 6,823     6,823
    NYS Charities Bureau Filing Fee 750     750
    Office Expenses 2,464     2,464
    Patient Diagnosis & Recruitment 19,330     19,330
    Postage, shipping, delivery 13,301     13,301
    Printing & Publications 1,349     1,349
    Research Tools 314     314
    Telephone & Internet 5,475     5,475
    Translation Expense 1,686     1,686
    Website design & Software 14,265     14,265


    TY 2018 OtherIncomeSchedule2
    Name:
    The Jain Foundation Inc
    EIN:
    20-0284800
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Return of PRI 204,542    
    Unused Grant Funds Return 11,354    


    TY 2018 OtherIncreasesSchedule
    Name:
    The Jain Foundation Inc
    EIN:
    20-0284800
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Description Amount
    Misc 86


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    The Jain Foundation Inc
    EIN:
    20-0284800
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Josh Thayer, Consultant 42,004 0 0 42,004


    TY 2018 TaxesSchedule
    Name:
    The Jain Foundation Inc
    EIN:
    20-0284800
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Estimated Excise tax 2018 51,000      
    Excise Tax 2017 1,453