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
Leon Lowenstein Foundation Inc
 
% ANDREW BENDHEIM
Number and street (or P.O. box number if mail is not delivered to street address)157 Church Street 19th Floor
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
New Haven, CT06510
A Employer identification number

13-6015951
B Telephone number (see instructions)

(212) 319-0670
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$159,799,218J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 3,617,826 3,617,826  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -1,595,210
b Gross sales price for all assets on line 6a 27,236,591
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 2,022,616 3,617,826  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 330,000 22,000   308,000
14 Other employee salaries and wages...... 47,250 2,363   44,887
15 Pension plans, employee benefits....... 57,857 2,893   54,964
16a Legal fees (attach schedule)......... 16,548 0   16,548
b Accounting fees (attach schedule)....... 37,342 15,687   21,655
c Other professional fees (attach schedule).... Click to see attachment 95,103 66,309   28,794
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 64,048 767   14,575
19 Depreciation (attach schedule) and depletion... Click to see attachment 254    
20 Occupancy.............. 25,321 1,266   24,055
21 Travel, conferences, and meetings....... 3,697 22   3,675
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 14,688 2,517   12,171
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 692,108 113,824   529,324
25 Contributions, gifts, grants paid....... 6,392,655 6,077,000
26 Total expenses and disbursements. Add lines 24 and 25 7,084,763 113,824   6,606,324
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -5,062,147
b Net investment income (if negative, enter -0-) 3,504,002
c Adjusted net income (if negative, enter -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............. 447,227 341,168 341,168
2 Savings and temporary cash investments.........      
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.......... 7,513 17,165 17,165
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 142,036,370 Click to see attachment159,418,090 159,418,090
14 Land, buildings, and equipment: basis bullet1,270
Less: accumulated depreciation (attach schedule) bullet805 720 465 465
15 Other assets (describe bullet) Click to see attachment71,036 Click to see attachment22,330 Click to see attachment22,330
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 142,562,866 159,799,218 159,799,218
Liabilities 17 Accounts payable and accrued expenses.......... 22,205 46,958
18 Grants payable................. 25,000 339,440
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 attachment882,699 Click to see attachment918,711
23 Total liabilities (add lines 17 through 22)......... 929,904 1,305,109
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........... 141,632,962 158,494,109
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 141,632,962 158,494,109
30 Total liabilities and net assets/fund balances (see instructions). 142,562,866 159,799,218
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
141,632,962
2
Enter amount from Part I, line 27a .....................
2
-5,062,147
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
21,923,294
4
Add lines 1, 2, and 3 ..........................
4
158,494,109
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
158,494,109
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 VANGUARD FTSE - ALL WORLD INFO AVAILABLE UPON REQUEST P 2017-01-01 2020-11-09
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 27,236,594   28,831,804 -1,595,210
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -1,595,210
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -1,595,210
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 48,706
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  
3 Add lines 1 and 2........................... 3 48,706
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 48,706
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 70,601
b Exempt foreign organizations—tax withheld at source...... 6b 0
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 70,601
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 21,895
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet21,895 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 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)
    bulletCT, NY
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 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 addressbullet  
    14
    The books are in care ofbulletANDREW BENDHEIM Telephone no.bullet (212) 319-0670

    Located atbullet157 CHURCH STREET 19TH FLOORnew havenCT ZIP+4bullet06510
    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
    Thomas Wright Secretary
    5.0     		40,000 0 0
    157 Church Street 19th Floor
    New Haven,CT06510
    Kim Bendheim Vice Chair
    5.0     		15,000 0 0
    157 Church Street 19th Floor
    New Haven,CT06510
    Tom Bendheim Director
    5.0     		10,000 0 0
    157 Church Street 19th Floor
    New Haven,CT06510
    Joanna Schulman Director
    5.0     		10,000 0 0
    157 Church Street 19th Floor
    New Haven,CT06510
    John Bendheim Jr dIRECTOR
    5.0     		10,000 0 0
    157 Church Street 19th Floor
    New Haven,CT06510
    Stewart Hudson Executive Director
    35.0     		220,000 45,670 0
    157 Church Street 19th Floor
    New Haven,CT06510
    Andrew Bendheim Chair
    20.0     		25,000 0 0
    157 Church Street 19th Floor
    New Haven,CT06510
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
     
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (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
     
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (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
    137,198,252
    b
    Average of monthly cash balances.......................
    1b
    206,468
    c
    Fair market value of all other assets (see instructions)................
    1c
    621,347
    d
    Total (add lines 1a, b, and c).........................
    1d
    138,026,067
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    138,026,067
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    2,070,391
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    135,955,676
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    6,797,784
    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
    6,797,784
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    48,706
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    48,706
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    6,749,078
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    6,749,078
    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
    6,749,078
    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
    6,606,324
    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
    6,606,324
    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
    6,606,324
    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 6,749,078
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 6,491,873
    b Total for prior years:2018, 2017, 2016  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 6,606,324
    a Applied to 2019, but not more than line 2a 6,491,873
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2020 distributable amount..... 114,451
    e Remaining amount distributed out of corpus 0
    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 0
    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 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		6,634,627
    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 2015 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020.... 0
    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
    A Leadership Journey
    PO Box 29163
    Providence,RI02909     		None PC Charitable 5,000
    Amanda James
    94 Mercer St
    New York,NY10012     		None PC Charitable 5,000
    Anti-defamation league
    605 Third Avenue
    New York,NY10158     		None PC Charitable 10,000
    Apprentice Learning
    745 Centre Street
    Jamiaca Plain,MA02130     		None PC Charitable 10,000
    Area Interfaith Outreach
    1A Gordon Drive
    Rockland,ME04841     		None PC Charitable 15,000
    Barrington Stage Company Inc
    30 Union Street
    Pittsfield,MA01201     		None PC Charitable 25,000
    Beth Israel Deaconess Medical Center
    330 Brookline Avenue
    Boston,MA02215     		None PC Charitable 55,000
    Boys & Girls Club of Greenwich
    4 Horseneck Lane
    Greenwich,CT06830     		None PC Charitable 22,000
    California Hospital Medical Center Foundation
    1401 S Grand Avenue
    Los Angeles,CA90015     		None PC Charitable 25,000
    Combined Jewish Philanthropies
    Kraft Family Building 126 High Stre
    Boston,MA02110     		None PC Charitable 10,000
    CareMessage
    2443 Fillmore Street
    San Francisco,CA94115     		None PC Charitable 50,000
    Center for Collaborative Education
    33 Harrison Avenue
    Boston,MA02111     		None PC Charitable 185,000
    Crossroads Rhode Island
    58 East 68th Street
    New York,NY10065     		None PC Charitable 5,000
    Coalition for Green Capital
    1875 Connecticut Avenue NW
    Washington,DC20009     		None PC Charitable 100,000
    CORE Community Organized Relief Effort
    6464 Sunset Blvd
    Los Angeles,CA90028     		None PC Charitable 50,000
    Education Evolving
    332 Minnesota Street
    St Paul,MN55101     		None PC Charitable 115,000
    Epic Theatre Center Inc
    55 W 39th Street
    New York,NY10018     		None PC Charitable 57,000
    Family Centers Inc
    40 Arch Street
    Greenwich,CT06830     		None PC Charitable 10,000
    Feeding America
    161 North Clark Street
    Chicago,IL60601     		None PC Charitable 400,000
    Flamboyan Foundation
    1730 Massachusetts Avenue
    Washington,DC20036     		None PC Charitable 250,000
    Gordon School
    45 Maxfield Avenue
    East Providence,RI02914     		None PC Charitable 5,000
    Food Rescue
    1127 High Ridge Rd Suite 338
    Stamford,CT06905     		None PC Charitable 200,000
    Harvey School
    260 Jay Street
    Katonah,NY10536     		None PC Charitable 6,000
    HMS MEDscience
    210 Longwood Avenue
    Boston,MA02115     		None PC Charitable 5,000
    Human Rights First
    75 Broad Street Fl 31
    New York,NY10004     		None PC Charitable 15,000
    Hurricane Island Foundation
    PO Box 1280
    Rockland,ME04841     		None PC Charitable 10,000
    Institute for Nonprofit Practice
    144 Gould Street
    Needham,MA02494     		None PC Charitable 30,000
    Juntos Vieques
    HC 2 Box 14717
    Vieques,PR00765     		None PC Charitable 1,000
    IAC Boston
    1320 Centre Street
    Newton,MA02459     		None PC Charitable 10,000
    Inclusive Prosperity Capital
    845 Brook Street
    Rocky Hill,CT06067     		None PC Charitable 112,000
    Institute for Market Transformation
    1707 L Street NW
    Washington,DC20036     		None PC Charitable 125,000
    International Medical Corps
    12400 Wilshire Blvd Suite 1500
    Los Angeles,CA90025     		None PC Charitable 50,000
    Johns Hopkins University
    3910 Keswick Road Suite N2100
    Baltimore,MD21211     		None PC Charitable 150,000
    Kids in Crisis
    One Salem St
    Cos Cob,CT06807     		None PC Charitable 6,500
    Lappin Foundation
    29 Congress St
    Salem,MA01970     		None PC Charitable 15,000
    Jewish Alliance of Greater Rhode Island
    401 Elmgrove Avenue
    Providence,RI02906     		None PC Charitable 5,000
    KnowledgeWorks Foundation
    One West Fourth Street No 200
    Cincinnati,OH45202     		None PC Charitable 240,000
    Lincoln School
    301 Butler Ave
    Providence,RI02906     		None PC Charitable 50,000
    Los Angeles Dodgers Foundation
    1000 Vin Scully Avenue
    Los Angeles,CA90012     		None PC Charitable 25,000
    Montefiore Medical Center - Development
    111 East 210th Street
    Bronx,NY10467     		None PC Charitable 50,000
    Natural Resources Defense Council (NRDC)
    40 West 20th Street Fl 11
    New York,NY10011     		None PC Charitable 250,000
    NE Basecamp
    150 Main Street
    Pawtucket,RI02860     		None PC Charitable 100,000
    New York City Health and Hospitals
    125 Worth Street 5th Fl
    New York,NY10013     		None PC Charitable 50,000
    New York Hindu Milan Mandir
    10725 Lefferts Blvd
    Jamaica,NY11419     		None PC Charitable 4,500
    Next Generation Learning Challenges
    PO Box 29907
    San Francisco,CA94129     		None PC Charitable 250,000
    No Kid Hungry
    1030 15th Street NW Suite 1100
    Washington,DC20005     		None PC Charitable 400,000
    Northwell Health Foundation
    2000 Marcus Avenue
    New Hyde Park,NY11042     		None PC Charitable 50,000
    Poetry Society of America
    15 Gramercy Park
    New York,NY10003     		None PC Charitable 15,000
    NYU Langone Health
    One Park Avenue 3rd floor
    New York,NY10016     		None PC Charitable 2,000
    ONS Fdn for Clinical Research and Education Inc
    6 Greenwich Office Park 40 Valley
    Greenwich,CT06831     		None PC Charitable 6,000
    Princeton Family YMCA
    59 Paul Robeson Place
    Princeton,NJ08534     		None PC Charitable 1,000
    Rachel's Network Inc
    1200 18th Street NW
    New York,NY20036     		None PC Charitable 27,000
    President and Fellows of Harvard College OSP
    Massachusetts Hall
    Cambridge,MA02138     		None PC Charitable 250,000
    Rhode Island Community Food Bank Assoc
    200 Niantic Avenue
    Providence,RI02907     		None PC Charitable 8,000
    Sarah Lawrence College
    1 Mead Way
    Bronxville,NY10708     		None PC Charitable 2,000
    Squash Haven
    70 Tower Parkway
    New Haven,CT06511     		None PC Charitable 10,000
    Save the Bay
    100 Save the Bay Drive
    Providence,RI02905     		None PC Charitable 5,000
    Rethink Food NYC
    75 Broad Street Suite 707
    New York,NY10004     		None PC Charitable 35,000
    Riverside Park Conservancy
    475 Riverside Drive Suite 455
    New York,NY10115     		None PC Charitable 40,000
    Rocky Mountain Institute
    22830 Two Rivers Road
    Basalt,CO81621     		None PC Charitable 238,000
    The Public Theater
    425 Lafayette St
    New York,NY10003     		None PC Charitable 20,000
    SmartPower
    4075 Wilson Blvd 8th Floor
    Arlington,VA22203     		None PC Charitable 125,000
    The Wharton School of the Univ of Pennsylvania
    3730 Walnut St
    Philadelphia,PA19104     		None PC Charitable 150,000
    Social Enterprise Greenhouse
    10 Davol Square Unit 100
    Providence,RI02903     		None PC Charitable 5,000
    Solar United neighbors
    1350 Connecticut Ave Suite 412
    Washington,DC20036     		None PC Charitable 150,000
    Stamford Health
    One Hospital Plaza PO Box 9317
    Stamford,CT06904     		None PC Charitable 15,000
    Stanford University
    450 Jane Stanford Way
    Stanford,CA94305     		None PC Charitable 200,000
    University of Washington
    Box 359505
    Seattle,WA98195     		None PC Charitable 30,000
    The 92nd Street YMYWHA
    1395 Lexington Ave
    New York,NY10128     		None PC Charitable 3,000
    Venture for America Inc
    40 West 29th Street
    New York,NY10001     		None PC Charitable 5,000
    Vieques Humane Society & Animal Rescue
    PO Box 1399
    vieques,PR00765     		None PC Charitable 20,000
    The Jewish Community Center in Manhattan
    334 Amsterdam Avenue at 76th Street
    New York,NY10023     		None PC Charitable 15,000
    YWCA Greenwich
    259 East Putnam Avenue
    Greenwich,CT06830     		None PC Charitable 5,000
    Endicott College
    376 Hale St
    Beverly,MA01915     		None PC Charitable 150,000
    Wallis Annenberg Center for the Performing Arts
    9390 N Santa Monica Blvd
    Beverly Hills,CA90210     		None PC Charitable 50,000
    Year Up
    40 Fountain Street
    Providence,RI02903     		None PC Charitable 40,000
    The Jewish Federation Council of Greater LA
    6505 Wilshire Blvd
    Los Angeles,CA90048     		None PC charitable 25,000
    Tisch College of Civic Life at Tufts University
    10 Upper Campus Road
    Medford,MA02155     		None PC charitable 15,000
    Transcend Inc
    159 Lincoln Avenue
    HastingsonHudson,NY10706     		None PC charitable 250,000
    Trekkers Inc
    325 Old Country Road
    Rockland,ME04841     		None PC charitable 75,000
    Trustees of Boston College (City Connects)
    140 Commonwealth Avenue
    Chestnut Hill,MA02467     		None PC charitable 185,000
    Urban Sustainability Directors Network
    1624 Viola Circle
    Port Washington,WI53074     		None PC charitable 250,000
    USC Dornsife College of Letters Arts and Sciences
    3551 Trousdale Pkwy
    Los Angeles,CA90089     		None PC charitable 25,000
    Vieques Conservation and Historical Trust
    138 Calle Flamboyan
    Vieques,PR00765     		None PC charitable 1,000
    WMC New York Inc
    567 W 207th Street
    New York,NY10034     		None PC charitable 50,000
    World Resources Institute
    10 G Street NE Suite 800
    Washington,DC20002     		None PC charitable 225,000
    Bridgeport Hospital
    267 Grant Street
    Bridgeport,CT06610     		None PC Charitable 50,000
    Total .................................bullet 3a 6,392,000
    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 3,617,826  
    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 -1,595,210  
    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)..   2,022,616  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,022,616
    (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 (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

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2020 DepreciationSchedule
    Name:
    Leon Lowenstein Foundation Inc
    EIN:
    13-6015951
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2020 InvestmentsOtherSchedule2
    Name:
    Leon Lowenstein Foundation Inc
    EIN:
    13-6015951
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    OTHER INVESTMENTS FMV 159,418,090 159,418,090

    TY 2020 OtherAssetsSchedule
    Name:
    Leon Lowenstein Foundation Inc
    EIN:
    13-6015951
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PREPAID EXCISE TAX 71,036 22,330 22,330


    TY 2020 OtherExpensesSchedule
    Name:
    Leon Lowenstein Foundation Inc
    EIN:
    13-6015951
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE EXPENSE 14,688 2,517   12,171


    TY 2020 OtherIncomeSchedule2
    Name:
    Leon Lowenstein Foundation Inc
    EIN:
    13-6015951
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    other income      


    TY 2020 OtherIncreasesSchedule
    Name:
    Leon Lowenstein Foundation Inc
    EIN:
    13-6015951
    Description Amount
    UNREALIZED GAIN ON INVESTMENTS 21,959,306
    CHANGE IN DEFERRED EXCISE TAX -36,012


    TY 2020 OtherLiabilitiesSchedule
    Name:
    Leon Lowenstein Foundation Inc
    EIN:
    13-6015951
    Description Beginning of Year - Book Value End of Year - Book Value
    DEFERRED EXCISE TAX 882,699 918,711


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    Leon Lowenstein Foundation Inc
    EIN:
    13-6015951
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT FEES 65,929 65,929    
    OTHER CONSULTANTS 29,174 380   28,794


    TY 2020 TaxesSchedule
    Name:
    Leon Lowenstein Foundation Inc
    EIN:
    13-6015951
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAXES 48,706      
    FICA TAX 15,342 767   14,575