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
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
SUBAK FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 1802
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PROVIDENCE, RI029011802
A Employer identification number

25-6719661
B Telephone number (see instructions)

(888) 866-3275
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$6,275,150J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 85,582 85,285  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 268,770
b Gross sales price for all assets on line 6a 1,216,921
7 Capital gain net income (from Part IV, line 2)... 268,770
8 Net short-term capital gain......... 0
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........ 354,352 354,055  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 31,971 19,183   12,789
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment 1,250 750 0 500
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 3,322 1,666   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 36,543 21,599 0 13,289
25 Contributions, gifts, grants paid....... 405,100 405,100
26 Total expenses and disbursements. Add lines 24 and 25 441,643 21,599 0 418,389
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -87,291
b Net investment income (if negative, enter -0-) 332,456
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
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......... 212,460 135,988 135,988
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 4,350,305 Click to see attachment4,339,880 6,139,162
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........     0
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) 4,562,765 4,475,868 6,275,150
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
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 4,562,765 4,475,868
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 4,562,765 4,475,868
30 Total liabilities and net assets/fund balances (see instructions). 4,562,765 4,475,868
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
4,562,765
2
Enter amount from Part I, line 27a .....................
2
-87,291
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
394
4
Add lines 1, 2, and 3 ..........................
4
4,475,868
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
4,475,868
Form 990-PF (2020)
Form 990-PF (2020)
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 4208.939 BAIRD MIDCAP FUND INSTL CL SHS   2018-02-27 2020-12-03
b 13140.015 BLACKROCK STRATEGIC INCOME OPPORTUNITIES PORTFOLIO INSTL CL   2018-02-28 2020-02-28
c 1383.197 BLACKROCK STRATEGIC INCOME OPPORTUNITIES PORTFOLIO INSTL CL   2018-06-28 2020-02-28
d 200. CHEVRONTEXACO CORP COM   2013-05-03 2020-12-03
e 10364.036 COLUMBIA EMERGING MARKETS FUND INSTL3 CL   2016-06-20 2020-04-09
2352.189 DELAWARE EMERGING MKTS FUND CL R6   2016-11-30 2020-04-09
6512.301 HARTFORD MUT FDS II INC SCHRODERS EMERGING MKTS   2018-12-28 2020-04-21
375. HONEYWELL INTERNATIONAL INC   2013-03-20 2020-12-03
1000. ISHARES RUSSELL MID-CAP ETF   2018-06-28 2020-12-03
300. ISHARES S&P SMALLCAP 600 INDEX FUND   2009-06-18 2020-12-03
300. ISHARES S&P SMALLCAP 600 INDEX FUND   2002-10-16 2020-12-03
475. ISHARES MBS ETF   2018-12-28 2020-02-28
400. ISHARES 3-7 YR TREAS BD ETF   2018-12-28 2020-02-28
2500. ISHARES CORE MSCI EAFE ETF   2018-12-28 2020-02-28
3086.42 THE MERGER FD   2018-06-28 2020-12-03
100. S&P DEPOSITARY RECEIPTS SERIES 1   2016-04-22 2020-12-03
900. VANGUARD INTERMEDIATE-TERM CORP BOND ETF   2018-12-28 2020-02-28
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 121,554   83,968 37,586
b 131,532   131,237 295
c 13,846   13,498 348
d 18,024   24,715 -6,691
e 117,114   96,353 20,761
38,153   34,571 3,582
85,572   90,000 -4,428
78,044   26,672 51,372
66,852   52,920 13,932
26,242   6,654 19,588
26,242   4,638 21,604
52,076   49,600 2,476
52,019   48,438 3,581
144,437   137,613 6,824
55,000   52,068 2,932
36,745   20,906 15,839
84,423   74,300 10,123
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
      69,046
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       37,586
b       295
c       348
d       -6,691
e       20,761
      3,582
      -4,428
      51,372
      13,932
      19,588
      21,604
      2,476
      3,581
      6,824
      2,932
      15,839
      10,123
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 268,770
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
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 for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 4,621
c All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 4,621
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 4,621
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 3,548
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 3,548
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 1,073
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 2021 estimated taxBullet0 RefundedBullet 11 0
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 the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. 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)
    bulletFL
    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 2020 or the taxable year beginning in 2020? 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 (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletBANK OF AMERICA NA Telephone no.bullet (888) 866-3275

    Located atbulletPO BOX 1802PROVIDENCERI ZIP+4bullet029011802
    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 2020, 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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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 2020 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 2020.)..................
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    BANK OF AMERICA AGENT FOR FIDUCIARY
    1     		31,971    
    86 WILLOW STREET
    YARMOUTH PORT,MA02675
    MICHAEL SUBAK CO TRUSTEE
    4     		0    
    18TH AND ARCH ST
    PHILADELPHIA,PA19103
    KATE ELIZABETH SUBAK CO TRUSTEE
    1     		0    
    16 INGLEWOOD DR
    TORONTOONTARIO CANADA,MA00000
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    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 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    5,330,657
    b
    Average of monthly cash balances.......................
    1b
    373,428
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    5,704,085
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    5,704,085
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    85,561
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,618,524
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    280,926
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    280,926
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    4,621
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,621
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    276,305
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    276,305
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    276,305
    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
    418,389
    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
    418,389
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    418,389
    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 (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 276,305
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 89,026
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 0
    b From 2016...... 0
    c From 2017...... 0
    d From 2018...... 0
    e From 2019...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 418,389
    a Applied to 2019, but not more than line 2a 89,026
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 276,305
    e Remaining amount distributed out of corpus 53,058
    5 Excess distributions carryover applied to 2020. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 53,058
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		53,058
    10 Analysis of line 9:
    a Excess from 2016.... 0
    b Excess from 2017.... 0
    c Excess from 2018.... 0
    d Excess from 2019.... 0
    e Excess from 2020.... 53,058
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 2020, 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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 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 (2020)
    Form 990-PF (2020)
    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
    SEE ATTACHED STATEMENT
    C/O BANK OF AMERICA PO BOX 1802
    JACKSONVILLE,FL32256     		N/A PC UNRESTRICTED GENERAL 405,100
    Total .................................bullet 3a 405,100
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 85,582  
    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 ............     		    18 268,770  
    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)..   354,352  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    354,352
    (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.)
    11 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 instructions.
    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 (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    SUBAK FAMILY FOUNDATION
    EIN:
    25-6719661
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE - BOA 1,250 750   500

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    SUBAK FAMILY FOUNDATION
    EIN:
    25-6719661
    Name of Stock End of Year Book Value End of Year Fair Market Value
    268461779 EGSHARES EMERGING MA    
    46428Q109 ISHARES SILVER TR    
    464286103 ISHARES INC MSCI AUS    
    464286400 ISHARES MSCI BRAZIL    
    464286509 ISHARES INC MSCI CDA    
    464286673 ISHARES MSCI SINGAPO    
    464286731 ISHR MSCI TAIWAN ETF    
    464286772 ISHARES MSCI SOUTH K    
    464287234 ISHARES MSCI EMERGIN    
    464287465 ISHARES MSCI EAFE ET    
    464287564 ISHARES COHEN & STEE    
    464287804 ISHARES CORE S&P SMA 9,558 57,346
    57060U522 MARKET VECTORS EMERG    
    73936T573 POWERSHARES EMERGING    
    78463V107 SPDR GOLD TR GOLD SH    
    78464A607 SPDR DJ WILSHIRE REI    
    78467Y107 SPDR S&P MIDCAP 400    
    922908553 VANGUARD REIT ETF    
    25271C102 DIAMOND OFFSHORE DRI    
    30231G102 EXXON MOBIL CORP COM    
    674599105 OCCIDENTAL PETE CORP    
    806857108 SCHLUMBERGER LTD COM    
    009158106 AIR PRODS & CHEMS IN    
    244199105 DEERE & CO COM    
    260003108 DOVER CORP COM    
    291011104 EMERSON ELEC CO COM    
    88579Y101 3M CO COM    
    911312106 UNITED PARCEL SVC IN 9,341 25,260
    189754104 COACH INC COM    
    254687106 DISNEY WALT CO COM D 3,578 36,236
    580135101 MCDONALDS CORP COM    
    872540109 TJX COS INC NEW COM 8,222 47,803
    87612E106 TARGET CORP COM    
    191216100 COCA COLA CO COM    
    22160K105 COSTCO WHSL CORP NEW 7,377 37,678
    50076Q106 KRAFT FOODS GROUP IN    
    713448108 PEPSICO INC COM 14,064 29,660
    742718109 PROCTER & GAMBLE CO    
    832696405 SMUCKER J M CO NEW C    
    071813109 BAXTER INTL INC COM 6,280 16,048
    075887109 BECTON DICKINSON & C 14,803 50,044
    151020104 CELGENE CORP COM    
    478160104 JOHNSON & JOHNSON CO 12,961 31,476
    66987V109 NOVARTIS A G SPONSOR    
    771195104 ROCHE HLDG LTD SPONS    
    09247X101 BLACKROCK INC CL A 15,556 72,154
    171232101 CHUBB CORP COM    
    229899109 CULLEN / FROST BANKE    
    92826C839 VISA INC CL A COM 18,657 109,365
    949746101 WELLS FARGO & CO NEW    
    962166104 WEYERHAEUSER CO COM    
    G1151C101 ACCENTURE PLC CL A C 13,196 65,303
    037833100 APPLE INC COM 11,395 185,766
    053015103 AUTOMATIC DATA PROCE    
    17275R102 CISCO SYS INC COM    
    219350105 CORNING INC COM    
    268648102 EMC CORP COM    
    459200101 INTERNATIONAL BUSINE    
    747525103 QUALCOMM INC COM    
    92343V104 VERIZON COMMUNICATIO    
    466001864 IVY ASSET STRATEGY F    
    900297664 TURNER SPECTRUM FUND    
    197199409 COLUMBIA ACORN FUND    
    19765P596 COLUMBIA SMALL CAP G    
    19765Y514 COLUMBIA VALUE AND R    
    19765Y688 COLUMBIA SELECT LARG    
    04315J860 ARTIO GLOBAL HIGH IN    
    722005667 PIMCO COMMODITY REAL    
    19763T889 COLUMBIA INCOME OPPO    
    19765N468 COLUMBIA INTERMEDIAT    
    19765Y886 COLUMBIA BOND FUND C    
    22544R305 CREDIT SUISSE COMMOD 258,188 215,833
    714199106 PERMANENT PORTFOLIO    
    72200Q182 PIMCO ALL ASSET ALL    
    72201P100 PIMCO GLOBAL MULTI-A    
    52106N889 LAZARD EMERGING MKTS    
    19765H636 COLUMBIA MARSICO INT    
    19765Y852 COLUMBIA EMERGING MA    
    464286822 ISHARES MSCI MEXICO    
    464287507 ISHARES CORE S&P MID    
    464287655 ISHARES RUSSELL 2000 151,350 245,075
    78463X822 SPDR RUSSELL/NOMURA    
    921943858 VANGUARD FTSE DEVELO 162,416 165,235
    97717W851 WISDOMTREE JAPAN HED    
    166764100 CHEVRON CORP COM    
    74005P104 PRAXAIR INC COM    
    149123101 CATERPILLAR INC COM    
    438516106 HONEYWELL INTL INC C    
    582839106 MEAD JOHNSON NUTRITI    
    464287556 ISHARES NASDAQ BIOTE    
    902641646 ETRACS ALERIAN MLP I    
    81369Y605 SELECT SECTOR SPDR T    
    13057Q107 CALIFORNIA RESOURCES    
    097023105 BOEING CO COM    
    12508E101 CDK GLOBAL INC COM    
    773903109 ROCKWELL AUTOMATION    
    966837106 WHOLE FOODS MKT INC    
    172967424 CITIGROUP INC NEW CO    
    38145N220 GOLDMAN SACHS ABSOLU    
    41902V872 HATTERAS ALPHA HEDGE    
    258620103 DOUBLELINE TOTAL RET    
    38145C646 GOLDMAN SACHS STRATE    
    091936732 BLACKROCK GLOBAL LON    
    04314H204 ARTISAN INTERNATIONA    
    38142Y401 GOLDMAN SACHS GROWTH    
    4812A0573 JPMORGAN INTL VALUE    
    592905509 METRO WEST T/R BD CL    
    233051200 DB X-TRACKERS MSCI E    
    464287499 ISHARES RUSSELL MID- 583,438 822,600
    46434G103 ISHARES CORE MSCI EM    
    78462F103 SPDR S&P 500 ETF TR 282,917 523,432
    97717X701 WISDOMTREE EUROPE HE    
    654106103 NIKE INC CL B    
    500754106 KRAFT HEINZ CORP COM    
    07177M103 BAXALTA INC COM    
    413838608 OAKMARK SELECT FUND    
    76628R615 RIDGEWORTH MID CAP V    
    904504842 UNDISCOVERED MANAGER    
    61945C103 MOSAIC CO NEW COM    
    345370860 FORD MTR CO DEL COM    
    H1467J104 CHUBB LTD COM    
    38141G104 GOLDMAN SACHS GROUP    
    02079K305 ALPHABET INC CL A CO 36,889 87,632
    258620301 DOUBLELINE CORE FIXE 164,566 170,907
    94987W737 WELLS FARGO ABSOLUTE 118,673 121,559
    245914817 DELAWARE EMERGING MK    
    68380L407 OPPENHEIMER INTL GRO    
    19766M659 COLUMBIA SELECT LARG 119,702 303,552
    55272P596 MFS MID CAP VALUE FU    
    09257V201 BLACKSTONE ALTERNATI    
    09256H328 BLACKROCK FDS II GLO    
    19766M824 COLUMBIA EMERGING MA    
    68380L605 OPPENHEIMER INT GROW    
    464287291 ISHARES TR S & P GLO    
    76118Y104 RESIDEO TECHNOLOGIES    
    057071813 BAIRD MIDCAP FUND IN    
    207019704 CONESTOGA SMALL CAP 150,000 235,334
    94975P447 WELLS FARGO SPECIAL 150,000 155,510
    09260B382 BLACKROCK STRATEGIC    
    64128K868 NEUBERGER BERMAN HIG 60,000 61,189
    524686672 LEGG MASON BW ABSOLU 70,000 78,440
    74925K367 ABBEY CAPITAL FUTURE 70,000 74,371
    412295107 HARDING LOEVNER FDS 170,000 222,123
    413838723 OAKMARK INTL FUND IN 120,000 108,659
    41665H847 HARTFORD MUT FDS II    
    589509108 THE MERGER FD 107,932 111,515
    464287226 ISHARES CORE US AGGR 169,781 189,104
    464288588 ISHARES MBS ETF    
    464288661 ISHARES 3-7 YR TREAS    
    46432F842 ISHARES CORE MSCI EA 258,712 324,723
    92206C870 VANGUARD INTERMEDIAT    
    922908363 VANGUARD S&P 500 ETF 34,591 51,554
    245914510 DELAWARE EMERGING MK 90,429 158,492
    464287101 ISHARES S&P 100 ETF 196,770 257,460
    464287481 ISHARES RUSSELL MID- 158,288 164,240
    78468R663 SPDR BLOOMBERG BARCL 64,077 64,064
    922042858 VANGUARD FTSE EMERGI 73,673 75,165
    00203H446 AQR LONG-SHORT EQUIT 40,000 37,151
    09250J734 BLACKROCK EVENT DRIV 100,000 103,096
    55273W475 MFS MID CAP VALUE FU 90,000 96,723
    64128R608 NEUBERGER BERMAN LON 40,000 45,259
    72201M487 PIMCO UNCONSTRAINED 102,500 105,026

    TY 2020 OtherIncreasesSchedule
    Name:
    SUBAK FAMILY FOUNDATION
    EIN:
    25-6719661
    Description Amount
    TYE INCOME ADJU 394


    TY 2020 TaxesSchedule
    Name:
    SUBAK FAMILY FOUNDATION
    EIN:
    25-6719661
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX ESTIMATES 1,656 0   0
    FOREIGN TAXES ON QUALIFIED FOR 1,506 1,506   0
    FOREIGN TAXES ON NONQUALIFIED 160 160   0