Form990-PF
Click to see attachment

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
ZELL FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)TWO NORTH RIVERSIDE PLAZA NO 600
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHICAGO, IL60606
A Employer identification number

36-3487811
B Telephone number (see instructions)

(312) 466-3335
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$279,322,484J 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) 57,238,210
2 Check bullet.............
3 Interest on savings and temporary cash investments   340,072  
4 Dividends and interest from securities... 1,708,376 1,734,445  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 17,812,816
b Gross sales price for all assets on line 6a 120,015,120
7 Capital gain net income (from Part IV, line 2)... 108,229,819
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 83,678 631,941  
12 Total. Add lines 1 through 11........ 76,843,080 110,936,277  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 84,253 30,458   53,826
b Accounting fees (attach schedule)....... Click to see attachment 85,050 42,525   42,525
c Other professional fees (attach schedule)....   9,836    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 1,735,015 0   15
19 Depreciation (attach schedule) and depletion...   23,191  
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 713 84,980   364
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,905,031 190,990   96,730
25 Contributions, gifts, grants paid....... 59,076,326 18,887,167
26 Total expenses and disbursements. Add lines 24 and 25 60,981,357 190,990   18,983,897
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 15,861,723
b Net investment income (if negative, enter -0-) 110,745,287
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............. 144,330 487,092 487,092
2 Savings and temporary cash investments......... 8,261,915 24,823,925 24,823,925
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 83,474,198 Click to see attachment61,289,044 61,289,044
c Investments—corporate bonds (attach schedule)....... 0 Click to see attachment39,817,157 39,817,157
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 2,107,383 Click to see attachment14,515,187 14,515,187
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment130,522,975 Click to see attachment138,390,079 Click to see attachment138,390,079
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 224,510,801 279,322,484 279,322,484
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable................. 179,710,425 217,899,584
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 attachment45,688 Click to see attachment307,681
23 Total liabilities (add lines 17 through 22)......... 179,756,113 218,207,265
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........... 44,754,688 61,115,219
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)..... 44,754,688 61,115,219
30 Total liabilities and net assets/fund balances (see instructions). 224,510,801 279,322,484
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
44,754,688
2
Enter amount from Part I, line 27a .....................
2
15,861,723
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
498,808
4
Add lines 1, 2, and 3 ..........................
4
61,115,219
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
61,115,219
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 PUBLICLY TRADED SECURITIES P   2020-12-31
b MAP 2006, LP P 2006-12-15 2020-12-31
c ZFF GREYCASTLE HOLDINGS, LLC P 2014-05-30 2020-12-31
d GREYCASTLE HOLDINGS LTD P 2017-12-28 2020-05-27
e GREYCASTLE LIFE REINSURANCE LTD-CLASS B P 2017-12-28 2020-05-27
CHATHAM ASSET PARTNERS HIGH YIELD FUND, LP P 2020-09-29 2020-12-31
CHATHAM ASSET PARTNERS HIGH YIELD FUND, LP P 2020-09-29 2020-12-31
CAPITAL GAINS 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 112,417,791   3,315,614 109,102,177
b 648,391     648,391
c     175,547 -175,547
d 6,753,073   8,294,018 -1,540,945
e 13,533   122 13,411
16,431     16,431
7,156     7,156
158,745     158,745
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       109,102,177
b       648,391
c       -175,547
d       -1,540,945
e       13,411
      16,431
      7,156
      158,745
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 2 108,229,819
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 1,539,359
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 1,539,359
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 1,539,359
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 1,678,419
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 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,678,419
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
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 10 139,060
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet139,060 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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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)
    bulletIL
    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
    Yes
     
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletEQUITY GROUP INVESTMENTS Telephone no.bullet (312) 466-3335

    Located atbulletTWO NORTH RIVERSIDE PLAZA SUITE 600CHICAGOIL ZIP+4bullet606062627
    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
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    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
    HELEN H ZELL EXECUTIVE DIRECTOR/VICE PR
    1.00     		0 0 0
    TWO NORTH RIVERSIDE PLAZA STE 600
    CHICAGO,IL60606
    SAMUEL ZELL PRESIDENT/DIRECTOR
    1.00     		0 0 0
    TWO NORTH RIVERSIDE PLAZA STE 600
    CHICAGO,IL60606
    KELLIE ZELL VICE PRESIDENT/DIRECTOR
    1.00     		0 0 0
    TWO NORTH RIVERSIDE PLAZA STE 600
    CHICAGO,IL60606
    MATTHEW M ZELL VICE PRESIDENT/DIRECTOR
    1.00     		0 0 0
    TWO NORTH RIVERSIDE PLAZA STE 600
    CHICAGO,IL60606
    JOANN L ZELL VICE PRESIDENT/DIRECTOR
    1.00     		0 0 0
    TWO NORTH RIVERSIDE PLAZA STE 600
    CHICAGO,IL60606
    PHILIP TINKLER VICE PRESIDENT
    1.00     		0 0 0
    TWO NORTH RIVERSIDE PLAZA STE 600
    CHICAGO,IL60606
    CARLEEN SCHREDER SECRETARY
    1.00     		0 0 0
    120 N LASALLE STREET 38TH FLOOR
    CHICAGO,IL60602
    JAMES BUNEGAR TREASURER
    1.00     		0 0 0
    TWO NORTH RIVERSIDE PLAZA STE 600
    CHICAGO,IL60606
    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
    CHAI TRUST COMPANY LLC PROFESSIONAL 85,050
    2 N RIVERSIDE PLAZA SUITE 600
    CHICAGO,IL60606
    LEVIN & SCHREDER & CAREY LTD LEGAL 56,578
    120 N LASALLE ST
    CHICAGO,IL60602
    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 NOT APPLICABLE 0
    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 NOT APPLICABLE 0
    2  
    All other program-related investments. See instructions.
    3 Click to see attachment 0
    Total. Add lines 1 through 3.........................bullet0
    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
    92,806,420
    b
    Average of monthly cash balances.......................
    1b
    35,184,563
    c
    Fair market value of all other assets (see instructions)................
    1c
    14,515,187
    d
    Total (add lines 1a, b, and c).........................
    1d
    142,506,170
    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
    142,506,170
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    2,137,593
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    140,368,577
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    7,018,429
    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
    7,018,429
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    1,539,359
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
    11,101
    c
    Add lines 2a and 2b............................
    2c
    1,550,460
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    5,467,969
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    5,467,969
    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
    5,467,969
    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
    18,983,897
    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
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    18,983,897
    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
    18,983,897
    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 5,467,969
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019...... 12,040,514
    fTotal of lines 3a through e........ 12,040,514
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 18,983,897
    a Applied to 2019, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 5,467,969
    e Remaining amount distributed out of corpus 13,515,928
    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 25,556,442
    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 ......     		25,556,442
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019.... 12,040,514
    e Excess from 2020.... 13,515,928
    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).)
    HELEN H ZELL
    SAMUEL ZELL
    KELLIE ZELL
    MATTHEW M ZELL
    JOANN L ZELL
    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
    YOUNG CHICAGO AUTHORS
    1180 N MILWAUKEE AVE
    CHICAGO,IL60642     		NONE PC GENERAL SUPPORT 125,000
    THE POINT MAGAZINE
    2 N LASALLE STREET NO 2300
    CHICAGO,IL60602     		NONE PC GENERAL SUPPORT 50,000
    ART INSTITUTE OF CHICAGO
    111 S MICHIGAN AVE
    CHICAGO,IL60603     		NONE PC GENERAL SUPPORT 5,000
    WINDOW TO THE WORLD COMMUNICATION
    5400 N ST LOUIS AVENUE
    CHICAGO,IL60625     		NONE PC GENERAL SUPPORT 17,500
    CENTER FOR AMERICAN ENTREPRENEUERSHIP
    503 AMON LAKE DRIVE
    GREAT FALLS,VA22066     		NONE PC GENERAL SUPPORT 50,000
    UNIVERSITY OF COLORADO FOUNDATION
    1800 GRANT STREET SUITE 725
    DENVER,CO80203     		NONE PC CURRICULUM INNOVATION 150,000
    JUNIOR ECONOMIC CLUB OF CHICAGO
    1318 N LASALLE DR
    CHICAGO,IL60610     		NONE PC GENERAL SUPPORT 5,000
    BOULDER JCC
    6007 OREG AVE
    BOULDER,CO80303     		NONE PC GENERAL SUPPORT 150,000
    ONEGOAL
    180 N WABASH AVE NO 800
    CHICAGO,IL60601     		NONE PC GENERAL SUPPORT 25,000
    ART INSTITUTE OF CHICAGO
    111 S MICHIGAN AVE
    CHICAGO,IL60603     		NONE PC GENERAL SUPPORT 60,000
    INSTITUTE FOR HUMANE STUDIES
    3434 WASHINGTON BLVD MS 1C5
    ARLINGTON,VA22201     		NONE PC GENERAL SUPPORT 10,000
    THE AMERICAN WRITERS MUSEUM
    180 N MICHIGAN AVE SUITE 300
    CHICAGO,IL60601     		NONE PC GENERAL SUPPORT 25,000
    OUNCE OF PREVENTION
    33 W MONROE ST STE 1200
    CHICAGO,IL60603     		NONE PC GENERAL SUPPORT 25,000
    UNITED STATES ARTISTS
    980 N MICHIGAN AVE 1300
    CHICAGO,IL606117805     		NONE PC GENERAL SUPPORT 60,000
    ANN & ROBERT H LURIE CHILDREN'S HOSPITAL OF CHICAGO
    225 E CHICAGO AVE
    CHICAGO,IL60611     		NONE PC KIDNEY DISEASE RESEARCH 150,000
    UNIVERSITY OF COLORADO FOUNDATION
    1800 GRANT STREET SUITE 725
    DENVER,CO80203     		NONE PC GENERAL SUPPORT 375,000
    STEPPENWOLF THEATRE COMPANY
    1650 N HALSTED ST
    CHICAGO,IL60614     		NONE PC GENERAL SUPPORT 630,000
    THE POINT MAGAZINE
    2 N LASALLE STREET NO 2300
    CHICAGO,IL60602     		NONE PC GENERAL SUPPORT 100,000
    INTERNATIONAL MUSIC FOUNDATION
    11 E ADAMS ST 350-B
    CHICAGO,IL60603     		NONE PC GENERAL SUPPORT 80,000
    MERIT SCHOOL OF MUSIC
    38 SOUTH PEORIA STREET
    CHICAGO,IL60607     		NONE PC GENERAL SUPPORT 25,000
    TEACH FOR AMERICA
    25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		NONE PC GENERAL SUPPORT 50,000
    TEACH FOR AMERICA
    25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		NONE PC GENERAL SUPPORT 333,334
    NATIONAL RAMAH COMMISSION INC
    3080 BROADWAY
    NEW YORK,NY10027     		NONE PC CAMP SUPPORT 86,000
    MAYO CLINIC
    200 FIRST STREET SW
    ROCHESTER,MN55905     		NONE PC GENERAL SUPPORT 400,000
    MICHIGAN B'NAI B'RITH HILLEL FOUNDATION INC
    1429 HILL STREET
    ANN ARBOR,MI48104     		NONE PC GENERAL SUPPORT 10,000
    JEWISH THEOLOGICAL SEMINARY
    3080 BROADWAY
    NEW YORK,NY10027     		NONE PC GENERAL SUPPORT 50,000
    WINDOW TO THE WORLD COMMUNICATION
    5400 N ST LOUIS AVENUE
    CHICAGO,IL60625     		NONE PC GENERAL SUPPORT 17,500
    ZELL ENTREPRENEURSHIP FOUNDATION
    2 N RIVERSIDE PLAZA SUITE 600
    CHICAGO,IL60606     		NONE PF GENERAL SUPPORT - FURTHERING THE GRANTEE'S TAX-EXEMPT CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES 2,000,000
    OUNCE OF PREVENTION
    33 W MONROE ST STE 1200
    CHICAGO,IL60603     		NONE PC EARLY CHILDHOOD EDUCATION 1,000,000
    CHICAGO SYMPHONY ORCHESTRA
    220 S MICHIGAN AVE
    CHICAGO,IL60604     		NONE PC REDUCTION OF DEBT 1,000,000
    CHICAGO SYMPHONY ORCHESTRA
    220 S MICHIGAN AVE
    CHICAGO,IL60604     		NONE PC REDUCTION OF DEBT 1,000,000
    AMERICAN FRIENDS OF IDC
    142 WEST 57TH STREET 11TH FLOOR
    NEW YORK,NY10019     		NONE PC ZELL ENTREPRENEURSHIP PROGRAM 1,000,000
    ROCHELLE ZELL JEWISH HIGH SCHOOL
    1095 LAKE COOK ROAD
    DEERFIELD,IL60015     		NONE PC REDUCTION OF DEBT FOR GENERAL SUPPORT 500,000
    MUSEUM OF CONTEMPORARY ART
    220 E CHICAGO AVE
    CHICAGO,IL60611     		NONE PC GENERAL SUPPORT 300,000
    IMENTOR INC
    199 WATER ST 8TH FL
    NEW YORK,NY10038     		NONE PC GENERAL SUPPORT 250,000
    CHICAGO PUBLIC EDUCATION FUND
    200 W ADAMS ST SUITE 1250
    CHICAGO,IL60606     		NONE PC GENERAL SUPPORT 150,000
    JUNIOR ACHIEVEMENT
    651 W WASHINGTON BLV
    CHICAGO,IL60661     		NONE PC GENERAL SUPPORT 5,000
    LYRIC OPERA
    20 N UPPER WACKER DR
    CHICAGO,IL60606     		NONE PC GENERAL SUPPORT 150,000
    CHICAGO SYMPHONY ORCHESTRA
    220 S MICHIGAN AVE
    CHICAGO,IL60604     		NONE PC MUSIC DIRECTOR POSITION AND PROGRAMS 950,000
    BOULDER JCC
    6007 OREG AVE
    BOULDER,CO80303     		NONE PC GENERAL SUPPORT 250,000
    CHICAGO HIGH SCHOOL FOR THE ARTS
    2714 W AUGUSTA BLVD
    CHICAGO,IL60622     		NONE PC GENERAL SUPPORT 415,000
    URBAN GATEWAYS
    100 S STATE ST 4TH FLOOR
    CHICAGO,IL60603     		NONE PC GENERAL SUPPORT 34,833
    UNITED STATES HOLOCAUST MEMORIAL MUSEUM
    595 ELM PL
    HIGHLAND PARK,IL60035     		NONE PC GENERAL SUPPORT 25,000
    BERNARD ZELL ANSHE EMET DAY SCHOOL
    3751 NORTH BROADWAY STREET
    CHICAGO,IL60613     		NONE PC GENERAL SUPPORT 1,000,000
    CHICAGO PARK DISTRICT
    541 N FAIRBANKS
    CHICAGO,IL60611     		NONE PC GENERAL SUPPORT 125,000
    AMERICAN SYMPHONY ORCHESTRA LEAGUE
    33 W 60TH STREET 5TH FLOOR
    NEW YORK,NY10023     		NONE PC GENERAL SUPPORT 25,000
    JEWISH UNITED FUND
    30 S WELLS ST
    CHICAGO,IL60606     		NONE PC GENERAL SUPPORT 550,000
    THE POINT MAGAZINE
    2 N LASALLE STREET NO 2300
    CHICAGO,IL60602     		NONE PC GENERAL SUPPORT 50,000
    AMERICAN ENTERPRISE INSTITUTE
    1789 MASSACHUSETTS AVENUE
    WASHINGTON DC,DC20036     		NONE PC GENERAL SUPPORT 10,000
    STEPPENWOLF THEATRE COMPANY
    1650 N HALSTED ST
    CHICAGO,IL60614     		NONE PC GENERAL SUPPORT 500,000
    AFTER SCHOOL MATTERS
    66 E RANDOLPH ST
    CHICAGO,IL60601     		NONE PC GENERAL SUPPORT 10,000
    TEACH FOR ALL
    25 BROADWAY 12TH FL
    NEW YORK,NY10004     		NONE PC GENERAL SUPPORT 225,000
    NORTHWESTERN UNIVERSITY-FEINBERG SCHOOL
    633 CLARK STREET
    EVANSTON,IL60208     		NONE PC RESIDENT READINESS 150,000
    INVEST FOR KIDS INC
    875 N MICHIGAN AVE SUITE 3400
    CHICAGO,IL606111958     		NONE PC GENERAL SUPPORT 5,000
    CHICAGO PUBLIC LIBRARY FOUNDATION
    20 N MICHIGAN AVE NO 520
    CHICAGO,IL60602     		NONE PC GENERAL SUPPORT 50,000
    GRANT PARK ORCHESTRAL ASSOCIATION
    205 E RANDOLPH STREET
    CHICAGO,IL60601     		NONE PC GENERAL SUPPORT 5,000
    LINCOLN PARK ZOOLOGICAL SOCIETY
    2001 N CLARK STREET
    CHICAGO,IL60614     		NONE PC GENERAL SUPPORT 5,000
    LISTEN FOUNDATION INC
    6950 E BELLEVIEW
    GREENWOOD VILLAGE,CO80111     		NONE PC GENERAL SUPPORT 20,000
    WINDOW TO THE WORLD COMMUNICATION
    5400 N ST LOUIS AVENUE
    CHICAGO,IL60625     		NONE PC GENERAL SUPPORT 5,000
    UNIVERSITY OF CHICAGO
    5801 SOUTH ELLIS AVENUE
    CHICAGO,IL60637     		NONE PC GENERAL SUPPORT 200,000
    UNIVERSITY OF CHICAGO
    5801 SOUTH ELLIS AVENUE
    CHICAGO,IL60637     		NONE PC SPEAKER SERIES 200,000
    SHARSHERET INC
    1086 TEANECK ROAD SUITE 2G
    TEANECK,NJ07666     		NONE PC GENERAL SUPPORT 10,000
    CHICAGO WEST COMMUNITY MUSIC CENTER
    100 N CENTRAL PARK AVE
    CHICAGO,IL60624     		NONE PC GENERAL SUPPORT 100,000
    A BETTER CHICAGO
    600 W VAN BUREN SUITE 510
    CHICAGO,IL60607     		NONE PC CATALYST FUND 200,000
    BIRTHRIGHT ISRAEL FOUNDATION
    33 EAST 33RD STREET 7TH FLOOR
    NEW YORK,NY10016     		NONE PC GENERAL SUPPORT 200,000
    CHICAGO CHILDREN'S MUSEUM
    700 EAST GRAND AVENUE SUITE 127
    CHICAGO,IL60611     		NONE PC FREE FIRST SUNDAYS 80,000
    FACING HISTORY AND OURSELVES
    16 HURD ROAD
    BROOKELINE,MA024456919     		NONE PC CPS CURRICULUM 100,000
    FOUNDATION FOR INDIVIDUAL RIGHTS IN EDUCATION INC (FIRE)
    510 WALNUT STREET NO 1250
    PHILADELPHIA,PA19106     		NONE PC GENERAL SUPPORT 500,000
    RENAISSANCE SOCIETY
    5811 SOUTH ELLIS AVENUE
    CHICAGO,IL60637     		NONE PC NEXT CENTURY FUND 100,000
    UCSF FOUNDATION
    PO BOX 45339
    SAN FRANCISCO,CA94145     		NONE PC LANGUAGE TRANSLATION SERVICES - RHEUMATOLOGY 50,000
    UNIVERSITY OF MICHIGAN
    500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC HZ WRITER'S PROGRAM 250,000
    UNIVERSITY OF MICHIGAN
    500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC GENERAL SUPPORT 183,000
    UNIVERSITY OF MICHIGAN
    500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC ZELL-LURIE INSTITUTE 700,000
    UNIVERSITY OF MICHIGAN
    500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC ZELL GRADUATE FELLOWS 600,000
    UNIVERSITY OF MICHIGAN
    500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC ZELL-LURIE INSTITUTE 200,000
    UNIVERSITY OF MICHIGAN
    500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC ZELL-LURIE INSTITUTE 200,000
    UNIVERSITY OF MICHIGAN
    500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC POST MFA WRITING FELLOWSHIP 550,000
    PJ LIBRARY
    30 S WELLS
    CHICAGO,IL60606     		NONE PC GENERAL SUPPORT 40,000
    COMMUNITYHEALTH
    2611 W CHICAGO AVE
    CHICAGO,IL60622     		NONE PC GENERAL SUPPORT 50,000
    BERNARD ZELL ANSHE EMET DAY SCHOOL
    3751 NORTH BROADWAY STREET
    CHICAGO,IL60613     		NONE PC GENERAL SUPPORT 1,000,000
    MUSEUM OF CONTEMPORARY ART
    220 E CHICAGO AVE
    CHICAGO,IL60611     		NONE PC GENERAL SUPPORT 500,000
    MARWEN
    833 N ORLEANS ST
    CHICAGO,IL60610     		NONE PC GENERAL SUPPORT 45,000
    Total .................................bullet 3a 20,887,167
    bApproved for future payment
    YOUNG CHICAGO AUTHORS
    1180 N MILWAUKEE AVE
    CHICAGO,IL60642     		NONE PC GENERAL SUPPORT 375,000
    THE POINT MAGAZINE
    2 N LASALLE STREET NO 2300
    CHICAGO,IL60602     		NONE PC GENERAL SUPPORT 100,000
    JUNIOR ECONOMIC CLUB OF CHICAGO
    1318 N LASALLE DR
    CHICAGO,IL60610     		NONE PC GENERAL SUPPORT 15,000
    ZELL ENTREPRENEURSHIP FOUNDATION
    2 N RIVERSIDE PLAZA SUITE 600
    CHICAGO,IL60606     		NONE PF GENERAL SUPPORT - FURTHERING THE GRANTEE'S TAX-EXEMPT CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES 18,000,000
    NATIONAL RAMAH COMMISSION INC
    3080 BROADWAY
    NEW YORK,NY10027     		NONE PC GENERAL SUPPORT 344,000
    IMENTOR INC
    199 WATER ST 8TH FL
    NEW YORK,NY10038     		NONE PC GENERAL SUPPORT 750,000
    CHICAGO SYMPHONY ORCHESTRA
    220 S MICHIGAN AVE
    CHICAGO,IL60604     		NONE PC REDUCTION OF DEBT 20,000,000
    LYRIC OPERA
    20 N UPPER WACKER DR
    CHICAGO,IL60606     		NONE PC GENERAL SUPPORT 250,000
    MUSEUM OF CONTEMPORARY ART
    220 E CHICAGO AVE
    CHICAGO,IL60611     		NONE PC GENERAL SUPPORT 1,000,000
    ANN & ROBERT H LURIE CHILDREN'S HOSPITAL OF CHICAGO
    225 E CHICAGO AVE
    CHICAGO,IL60611     		NONE PC KIDNEY DISEASE RESEARCH 100,000
    STEPPENWOLF THEATRE COMPANY
    1650 N HALSTED ST
    CHICAGO,IL60614     		NONE PC GENERAL SUPPORT 1,460,000
    WINDOW TO THE WORLD COMMUNICATION
    5400 N ST LOUIS AVENUE
    CHICAGO,IL60625     		NONE PC EXPLORING MUSIC PROGRAM 50,000
    TEACH FOR AMERICA
    25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		NONE PC GENERAL SUPPORT 2,250,000
    Total .................................bullet 3b 44,694,000
    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 ...........     		    14    
    4 Dividends and interest from securities....     14 1,708,376  
    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.....     01 83,678  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 17,812,816  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 19,604,870 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    19,604,870
    (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

    Form 990PF Part XV Line 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
    YOUNG CHICAGO AUTHORS1180 N MILWAUKEE AVE
    CHICAGO,IL60642     		NONE PC GENERAL SUPPORT 125,000
    THE POINT MAGAZINE2 N LASALLE STREET NO 2300
    CHICAGO,IL60602     		NONE PC GENERAL SUPPORT 50,000
    ART INSTITUTE OF CHICAGO111 S MICHIGAN AVE
    CHICAGO,IL60603     		NONE PC GENERAL SUPPORT 5,000
    WINDOW TO THE WORLD COMMUNICATION5400 N ST LOUIS AVENUE
    CHICAGO,IL60625     		NONE PC GENERAL SUPPORT 17,500
    CENTER FOR AMERICAN ENTREPRENEUERSHIP503 AMON LAKE DRIVE
    GREAT FALLS,VA22066     		NONE PC GENERAL SUPPORT 50,000
    UNIVERSITY OF COLORADO FOUNDATION1800 GRANT STREET SUITE 725
    DENVER,CO80203     		NONE PC CURRICULUM INNOVATION 150,000
    JUNIOR ECONOMIC CLUB OF CHICAGO1318 N LASALLE DR
    CHICAGO,IL60610     		NONE PC GENERAL SUPPORT 5,000
    BOULDER JCC6007 OREG AVE
    BOULDER,CO80303     		NONE PC GENERAL SUPPORT 150,000
    ONEGOAL180 N WABASH AVE NO 800
    CHICAGO,IL60601     		NONE PC GENERAL SUPPORT 25,000
    ART INSTITUTE OF CHICAGO111 S MICHIGAN AVE
    CHICAGO,IL60603     		NONE PC GENERAL SUPPORT 60,000
    INSTITUTE FOR HUMANE STUDIES3434 WASHINGTON BLVD MS 1C5
    ARLINGTON,VA22201     		NONE PC GENERAL SUPPORT 10,000
    THE AMERICAN WRITERS MUSEUM180 N MICHIGAN AVE SUITE 300
    CHICAGO,IL60601     		NONE PC GENERAL SUPPORT 25,000
    OUNCE OF PREVENTION33 W MONROE ST STE 1200
    CHICAGO,IL60603     		NONE PC GENERAL SUPPORT 25,000
    UNITED STATES ARTISTS980 N MICHIGAN AVE 1300
    CHICAGO,IL606117805     		NONE PC GENERAL SUPPORT 60,000
    ANN & ROBERT H LURIE CHILDREN'S HOSPITAL OF CHICAGO225 E CHICAGO AVE
    CHICAGO,IL60611     		NONE PC KIDNEY DISEASE RESEARCH 150,000
    UNIVERSITY OF COLORADO FOUNDATION1800 GRANT STREET SUITE 725
    DENVER,CO80203     		NONE PC GENERAL SUPPORT 375,000
    STEPPENWOLF THEATRE COMPANY1650 N HALSTED ST
    CHICAGO,IL60614     		NONE PC GENERAL SUPPORT 630,000
    THE POINT MAGAZINE2 N LASALLE STREET NO 2300
    CHICAGO,IL60602     		NONE PC GENERAL SUPPORT 100,000
    INTERNATIONAL MUSIC FOUNDATION11 E ADAMS ST 350-B
    CHICAGO,IL60603     		NONE PC GENERAL SUPPORT 80,000
    MERIT SCHOOL OF MUSIC38 SOUTH PEORIA STREET
    CHICAGO,IL60607     		NONE PC GENERAL SUPPORT 25,000
    TEACH FOR AMERICA25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		NONE PC GENERAL SUPPORT 50,000
    TEACH FOR AMERICA25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		NONE PC GENERAL SUPPORT 333,334
    NATIONAL RAMAH COMMISSION INC3080 BROADWAY
    NEW YORK,NY10027     		NONE PC CAMP SUPPORT 86,000
    MAYO CLINIC200 FIRST STREET SW
    ROCHESTER,MN55905     		NONE PC GENERAL SUPPORT 400,000
    MICHIGAN B'NAI B'RITH HILLEL FOUNDATION INC1429 HILL STREET
    ANN ARBOR,MI48104     		NONE PC GENERAL SUPPORT 10,000
    JEWISH THEOLOGICAL SEMINARY3080 BROADWAY
    NEW YORK,NY10027     		NONE PC GENERAL SUPPORT 50,000
    WINDOW TO THE WORLD COMMUNICATION5400 N ST LOUIS AVENUE
    CHICAGO,IL60625     		NONE PC GENERAL SUPPORT 17,500
    ZELL ENTREPRENEURSHIP FOUNDATION2 N RIVERSIDE PLAZA SUITE 600
    CHICAGO,IL60606     		NONE PF GENERAL SUPPORT - FURTHERING THE GRANTEE'S TAX-EXEMPT CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES 2,000,000
    OUNCE OF PREVENTION33 W MONROE ST STE 1200
    CHICAGO,IL60603     		NONE PC EARLY CHILDHOOD EDUCATION 1,000,000
    CHICAGO SYMPHONY ORCHESTRA220 S MICHIGAN AVE
    CHICAGO,IL60604     		NONE PC REDUCTION OF DEBT 1,000,000
    CHICAGO SYMPHONY ORCHESTRA220 S MICHIGAN AVE
    CHICAGO,IL60604     		NONE PC REDUCTION OF DEBT 1,000,000
    AMERICAN FRIENDS OF IDC142 WEST 57TH STREET 11TH FLOOR
    NEW YORK,NY10019     		NONE PC ZELL ENTREPRENEURSHIP PROGRAM 1,000,000
    ROCHELLE ZELL JEWISH HIGH SCHOOL1095 LAKE COOK ROAD
    DEERFIELD,IL60015     		NONE PC REDUCTION OF DEBT FOR GENERAL SUPPORT 500,000
    MUSEUM OF CONTEMPORARY ART220 E CHICAGO AVE
    CHICAGO,IL60611     		NONE PC GENERAL SUPPORT 300,000
    IMENTOR INC199 WATER ST 8TH FL
    NEW YORK,NY10038     		NONE PC GENERAL SUPPORT 250,000
    CHICAGO PUBLIC EDUCATION FUND200 W ADAMS ST SUITE 1250
    CHICAGO,IL60606     		NONE PC GENERAL SUPPORT 150,000
    JUNIOR ACHIEVEMENT651 W WASHINGTON BLV
    CHICAGO,IL60661     		NONE PC GENERAL SUPPORT 5,000
    LYRIC OPERA20 N UPPER WACKER DR
    CHICAGO,IL60606     		NONE PC GENERAL SUPPORT 150,000
    CHICAGO SYMPHONY ORCHESTRA220 S MICHIGAN AVE
    CHICAGO,IL60604     		NONE PC MUSIC DIRECTOR POSITION AND PROGRAMS 950,000
    BOULDER JCC6007 OREG AVE
    BOULDER,CO80303     		NONE PC GENERAL SUPPORT 250,000
    CHICAGO HIGH SCHOOL FOR THE ARTS2714 W AUGUSTA BLVD
    CHICAGO,IL60622     		NONE PC GENERAL SUPPORT 415,000
    URBAN GATEWAYS100 S STATE ST 4TH FLOOR
    CHICAGO,IL60603     		NONE PC GENERAL SUPPORT 34,833
    UNITED STATES HOLOCAUST MEMORIAL MUSEUM595 ELM PL
    HIGHLAND PARK,IL60035     		NONE PC GENERAL SUPPORT 25,000
    BERNARD ZELL ANSHE EMET DAY SCHOOL3751 NORTH BROADWAY STREET
    CHICAGO,IL60613     		NONE PC GENERAL SUPPORT 1,000,000
    CHICAGO PARK DISTRICT541 N FAIRBANKS
    CHICAGO,IL60611     		NONE PC GENERAL SUPPORT 125,000
    AMERICAN SYMPHONY ORCHESTRA LEAGUE33 W 60TH STREET 5TH FLOOR
    NEW YORK,NY10023     		NONE PC GENERAL SUPPORT 25,000
    JEWISH UNITED FUND30 S WELLS ST
    CHICAGO,IL60606     		NONE PC GENERAL SUPPORT 550,000
    THE POINT MAGAZINE2 N LASALLE STREET NO 2300
    CHICAGO,IL60602     		NONE PC GENERAL SUPPORT 50,000
    AMERICAN ENTERPRISE INSTITUTE1789 MASSACHUSETTS AVENUE
    WASHINGTON DC,DC20036     		NONE PC GENERAL SUPPORT 10,000
    STEPPENWOLF THEATRE COMPANY1650 N HALSTED ST
    CHICAGO,IL60614     		NONE PC GENERAL SUPPORT 500,000
    AFTER SCHOOL MATTERS66 E RANDOLPH ST
    CHICAGO,IL60601     		NONE PC GENERAL SUPPORT 10,000
    TEACH FOR ALL25 BROADWAY 12TH FL
    NEW YORK,NY10004     		NONE PC GENERAL SUPPORT 225,000
    NORTHWESTERN UNIVERSITY-FEINBERG SCHOOL633 CLARK STREET
    EVANSTON,IL60208     		NONE PC RESIDENT READINESS 150,000
    INVEST FOR KIDS INC875 N MICHIGAN AVE SUITE 3400
    CHICAGO,IL606111958     		NONE PC GENERAL SUPPORT 5,000
    CHICAGO PUBLIC LIBRARY FOUNDATION20 N MICHIGAN AVE NO 520
    CHICAGO,IL60602     		NONE PC GENERAL SUPPORT 50,000
    GRANT PARK ORCHESTRAL ASSOCIATION205 E RANDOLPH STREET
    CHICAGO,IL60601     		NONE PC GENERAL SUPPORT 5,000
    LINCOLN PARK ZOOLOGICAL SOCIETY2001 N CLARK STREET
    CHICAGO,IL60614     		NONE PC GENERAL SUPPORT 5,000
    LISTEN FOUNDATION INC6950 E BELLEVIEW
    GREENWOOD VILLAGE,CO80111     		NONE PC GENERAL SUPPORT 20,000
    WINDOW TO THE WORLD COMMUNICATION5400 N ST LOUIS AVENUE
    CHICAGO,IL60625     		NONE PC GENERAL SUPPORT 5,000
    UNIVERSITY OF CHICAGO5801 SOUTH ELLIS AVENUE
    CHICAGO,IL60637     		NONE PC GENERAL SUPPORT 200,000
    UNIVERSITY OF CHICAGO5801 SOUTH ELLIS AVENUE
    CHICAGO,IL60637     		NONE PC SPEAKER SERIES 200,000
    SHARSHERET INC1086 TEANECK ROAD SUITE 2G
    TEANECK,NJ07666     		NONE PC GENERAL SUPPORT 10,000
    CHICAGO WEST COMMUNITY MUSIC CENTER100 N CENTRAL PARK AVE
    CHICAGO,IL60624     		NONE PC GENERAL SUPPORT 100,000
    A BETTER CHICAGO600 W VAN BUREN SUITE 510
    CHICAGO,IL60607     		NONE PC CATALYST FUND 200,000
    BIRTHRIGHT ISRAEL FOUNDATION33 EAST 33RD STREET 7TH FLOOR
    NEW YORK,NY10016     		NONE PC GENERAL SUPPORT 200,000
    CHICAGO CHILDREN'S MUSEUM700 EAST GRAND AVENUE SUITE 127
    CHICAGO,IL60611     		NONE PC FREE FIRST SUNDAYS 80,000
    FACING HISTORY AND OURSELVES16 HURD ROAD
    BROOKELINE,MA024456919     		NONE PC CPS CURRICULUM 100,000
    FOUNDATION FOR INDIVIDUAL RIGHTS IN EDUCATION INC (FIRE)510 WALNUT STREET NO 1250
    PHILADELPHIA,PA19106     		NONE PC GENERAL SUPPORT 500,000
    RENAISSANCE SOCIETY5811 SOUTH ELLIS AVENUE
    CHICAGO,IL60637     		NONE PC NEXT CENTURY FUND 100,000
    UCSF FOUNDATIONPO BOX 45339
    SAN FRANCISCO,CA94145     		NONE PC LANGUAGE TRANSLATION SERVICES - RHEUMATOLOGY 50,000
    UNIVERSITY OF MICHIGAN500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC HZ WRITER'S PROGRAM 250,000
    UNIVERSITY OF MICHIGAN500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC GENERAL SUPPORT 183,000
    UNIVERSITY OF MICHIGAN500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC ZELL-LURIE INSTITUTE 700,000
    UNIVERSITY OF MICHIGAN500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC ZELL GRADUATE FELLOWS 600,000
    UNIVERSITY OF MICHIGAN500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC ZELL-LURIE INSTITUTE 200,000
    UNIVERSITY OF MICHIGAN500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC ZELL-LURIE INSTITUTE 200,000
    UNIVERSITY OF MICHIGAN500 S STATE STREET
    ANN ARBOR,MI48109     		NONE PC POST MFA WRITING FELLOWSHIP 550,000
    PJ LIBRARY30 S WELLS
    CHICAGO,IL60606     		NONE PC GENERAL SUPPORT 40,000
    COMMUNITYHEALTH2611 W CHICAGO AVE
    CHICAGO,IL60622     		NONE PC GENERAL SUPPORT 50,000
    BERNARD ZELL ANSHE EMET DAY SCHOOL3751 NORTH BROADWAY STREET
    CHICAGO,IL60613     		NONE PC GENERAL SUPPORT 1,000,000
    MUSEUM OF CONTEMPORARY ART220 E CHICAGO AVE
    CHICAGO,IL60611     		NONE PC GENERAL SUPPORT 500,000
    MARWEN833 N ORLEANS ST
    CHICAGO,IL60610     		NONE PC GENERAL SUPPORT 45,000
    Total ...............................bullet 3a 20,887,167
    bApproved for future payment
    YOUNG CHICAGO AUTHORS1180 N MILWAUKEE AVE
    CHICAGO,IL60642     		NONE PC GENERAL SUPPORT 375,000
    THE POINT MAGAZINE2 N LASALLE STREET NO 2300
    CHICAGO,IL60602     		NONE PC GENERAL SUPPORT 100,000
    JUNIOR ECONOMIC CLUB OF CHICAGO1318 N LASALLE DR
    CHICAGO,IL60610     		NONE PC GENERAL SUPPORT 15,000
    ZELL ENTREPRENEURSHIP FOUNDATION2 N RIVERSIDE PLAZA SUITE 600
    CHICAGO,IL60606     		NONE PF GENERAL SUPPORT - FURTHERING THE GRANTEE'S TAX-EXEMPT CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES 18,000,000
    NATIONAL RAMAH COMMISSION INC3080 BROADWAY
    NEW YORK,NY10027     		NONE PC GENERAL SUPPORT 344,000
    IMENTOR INC199 WATER ST 8TH FL
    NEW YORK,NY10038     		NONE PC GENERAL SUPPORT 750,000
    CHICAGO SYMPHONY ORCHESTRA220 S MICHIGAN AVE
    CHICAGO,IL60604     		NONE PC REDUCTION OF DEBT 20,000,000
    LYRIC OPERA20 N UPPER WACKER DR
    CHICAGO,IL60606     		NONE PC GENERAL SUPPORT 250,000
    MUSEUM OF CONTEMPORARY ART220 E CHICAGO AVE
    CHICAGO,IL60611     		NONE PC GENERAL SUPPORT 1,000,000
    ANN & ROBERT H LURIE CHILDREN'S HOSPITAL OF CHICAGO225 E CHICAGO AVE
    CHICAGO,IL60611     		NONE PC KIDNEY DISEASE RESEARCH 100,000
    STEPPENWOLF THEATRE COMPANY1650 N HALSTED ST
    CHICAGO,IL60614     		NONE PC GENERAL SUPPORT 1,460,000
    WINDOW TO THE WORLD COMMUNICATION5400 N ST LOUIS AVENUE
    CHICAGO,IL60625     		NONE PC EXPLORING MUSIC PROGRAM 50,000
    TEACH FOR AMERICA25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		NONE PC GENERAL SUPPORT 2,250,000
    Total ................................bullet 3b 44,694,000
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2020
    Name of the organization
    ZELL FAMILY FOUNDATION
     
    Employer identification number

    36-3487811
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    ZELL FAMILY FOUNDATION
          		Employer identification number
    36-3487811
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    SAM INVESTMENT TRUST (SAMUEL ZELL GRANTOR)
     
    TWO N RIVERSIDE PLAZA SUITE 600
     
    CHICAGO, IL60606

    		$ 49,312,500


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    SAM INVESTMENT TRUST SAMUEL ZELL GR
    TWO N RIVERSIDE PLAZA SUITE 600
     
    CHICAGO, IL60606

    		$ 1,765


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    SAM INVESTMENT TRUST (SAMUEL ZELL GRANTOR)
     
    TWO N RIVERSIDE PLAZA SUITE 600
     
    CHICAGO, IL60606

    		$ 58,845


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    Name of organization
    ZELL FAMILY FOUNDATION
          		Employer identification number

    36-3487811
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 500,000 ANIXTER SHARES $ 49,312,500 2020-01-09
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    3
    		 510,716 CLASS D SHARES BANCO HIPOTECARIO $ 58,845 2020-12-23
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    ZELL FAMILY FOUNDATION
          		Employer identification number

    36-3487811
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2020 AccountingFeesSchedule
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 85,050 42,525   42,525

    TY 2020 AllOthProgRltdInvestmentsSch
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Category Amount
    NOT APPLICABLE 0

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

    TY 2020 ExpenditureResponsibilityStmt
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    ZELL ENTREPRENEURSHIP FOUNDATION
          		2 N RIVERSIDE PLAZA SUITE 600
    CHICAGO,IL60606     		2020-03-31 20,000,000 PURSUANT TO THE GRANT AGREEMENT DATED MARCH 31, 2020, THE GRANT IS TO BE USED IN GENERAL SUPPORT OF FURTHERING THE GRANTEE'S TAX-EXEMPT CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES. 410,359 NO KNOWN DIVERSION OF FUNDS. 2/26/2021   N/A - REVIEW OF GRANTEE REPORT(S) DID NOT RESULT IN REASON TO DOUBT ACCURACY OR RELIABILITY.

    TY 2020 GeneralExplanationAttachment
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Identifier Return Reference Explanation
    SCHEDULE OF CONTROLLED ENTITIES FORM 990-PF, PART VII-A, LINE 11 NAME OF CONTROLLED ENTITY: ZFF GREYCASTLE HOLDINGS, LLCEMPLOYER ID NO: 61-1741804EXCESS BUSINESS HOLDINGS: NOADDRESS: 2 N. RIVERSIDE PLAZA, SUITE 600, CHICAGO, IL 60606

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Name of Bond End of Year Book Value End of Year Fair Market Value
    PIONEER NAT RES CO 599,859 599,859
    REGIONS FINL CORP NEW 202,618 202,618
    MARATHON PETE CORP 409,661 409,661
    GENERAL DYNAMICS CORP 405,519 405,519
    FIFTH THIRD BK CINCINNATI OHIO 806,386 806,386
    GOLDMAN SACHS GROUP INC 367,688 367,688
    DUKE ENERGY CORP NEW 603,959 603,959
    AMERICAN HONDA FIN CORP 710,289 710,289
    ORACLE CORP 203,133 203,133
    LG&E KU ENERGY LLC 411,763 411,763
    PUBLIC SVC ENTERPRISE GROUP INC 405,866 405,866
    MORGAN STANLEY SR 818,359 818,359
    KEYBANK NATL ASSN CLEVELAND OH 296,362 296,362
    ENTERPRISE PRODS OPER LLC 602,803 602,803
    ALABAMA PWR CO 309,283 309,283
    BB&T CORP 414,342 414,342
    AUTOZONE INC 600,364 600,364
    MFRS & TRADERS 825,397 825,397
    WELLS FARGO BK N A SAN FRANCISCO 810,309 810,309
    RYDER SYS INC 621,243 621,243
    SYNCHRONY BK GLOBAL 465,283 465,283
    TOYOTA MTR CR CORP SR 788,210 788,210
    PHILLIP MORRIS INTL INC 416,280 416,280
    KINDER MORGAN ENERGY PARTNERS LP 595,015 595,015
    HEWLETT PACKARD ENTERPRISE CO 589,308 589,308
    ORACLE CORP SR 783,531 783,531
    DTE ENERGY CO 552,565 552,565
    ABBVIE INC 630,306 630,306
    PPL CAP FDG INC 604,634 604,634
    GOLDMAN SACHS GROUP INC SR 649,884 649,884
    WELLS FARGO & CO NEW 312,577 312,577
    EOG RES INC 604,497 604,497
    JP MORGAN CHASE & CO 788,467 788,467
    BOEING CO 609,472 609,472
    PACCAR FINL CORP 404,488 404,488
    CATERPILLAR FINL SVCS CORP GBL SR 603,113 603,113
    ALLY FINL INC 192,694 192,694
    GENERAL MTRS FINL CO INC 371,242 371,242
    COMCAST CORP NEW SR 609,412 609,412
    ALLY FINL INC 398,220 398,220
    VERIZON OWNER TR 2020-A NT 1,025,552 1,025,552
    CITICROUP INC 604,683 604,683
    AMERICREDIT AUTOMOBILE RECBLS 1,005,730 1,005,730
    NEXTERA ENERGY CAP HLDGS 488,886 488,886
    AT&T INC SR 502,107 502,107
    ENERGY TRANSFER OPER LP 408,741 408,741
    REGIONS FINL CORP NEW 637,901 637,901
    WORLD FINL NETWORK CR CARD 1,032,625 1,032,625
    FEDERAL NATL MTG ASSN 1,924,587 1,924,587
    WELLS FARGO COML MTG TR 996,954 996,954
    JPMBB MTG SECS TR 2016 1,036,101 1,036,101
    METROPOLITAN TRANSN AUTH NYR BANS 852,743 852,743
    HSBC HLDGS PLC 338,382 338,382
    TORONTO DOMINION BK 202,995 202,995
    MIZUHO FINL GROUP INC 458,991 458,991
    LLOYDS BKG GROUP PLC 603,111 603,111
    AMERICA MOVIL S A B DE C V 736,108 736,108
    CREDIT SUISSE GROUP FDG 597,732 597,732
    BARCLAYS PLC 610,274 610,274
    TORONTO DOMINION BK 803,396 803,396
    SHIRE ACQ UNV 640,954 640,954
    ROYAL BK CDA GLOBAL 805,138 805,138
    LLOYDS BANKING GROUP PLC 209,820 209,820
    AERCAP IRELAND CAP DESIGNATED ACTIVITY 480,780 480,780
    BANK MONTREAL 799,544 799,544
    BP CAP MKTS PLC 618,921 618,921

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Name of Stock End of Year Book Value End of Year Fair Market Value
    EQUITY RESIDENTIAL PROPERTIES 9,157,574 9,157,574
    WESCO INTERNATIONAL, INC - COMMON STOCK 21,600,139 21,600,139
    WESCO INTERNATIONAL, INC - PREFERRED STOCK 22,800,938 22,800,938
    PAR PACIFIC HOLDINGS, INC. - COMMON STOCK 1,398,000 1,398,000
    BLACKSTONE MORTGAGE TRUST, INC. - COMMON STOCK 275,300 275,300
    COVANTA HOLDING CORPORATION - COMMON STOCK 1,313,000 1,313,000
    EXTERRAN CORPORATION - COMMON STOCK 1,160,086 1,160,086
    BANCO HIPOTECARIO ARS10 CL D - COMMON STOCK 120,207 120,207
    PHARMALINK INTERNATIONAL LIMITED - COMMON STOCK 3,463,800 3,463,800

    TY 2020 InvestmentsOtherSchedule2
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    MAP 2006 (A), L.P. FMV 1,315,178 1,315,178
    ZFF GREYCASTLE HOLDINGS, LLC FMV 161,533 161,533
    CHATHAM ASSET PARTNERS HIGH YIELD FUND, LP FMV 13,038,476 13,038,476

    TY 2020 LegalFeesSchedule
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 84,253 30,427   53,826
    ZFF GREYCASTLE HOLDINGS LLC - LEGAL FEES 0 31   0


    TY 2020 OtherAssetsSchedule
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    LONG TERM RECEIVABLE 130,522,975 138,390,079 138,390,079


    TY 2020 OtherExpensesSchedule
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BUSINESS LICENSES/FILING FEES 70 0   70
    MAP 2006, L.P. - ROYALTY EXPENSE 0 22,447   0
    BANK FEES 55 55   0
    MAP 2006, L.P. - MISCELLANEOUS EXPENSES 0 603   0
    ZFF GREYCASTLE HOLDINGS LLC - MISCELLANEOUS EXPENSES 0 34   0
    MISCELLANEOUS EXPENSES 588 294   294
    CHATHAM ASSET PARTNERS HIGH YIELD FUND, LP - MISCELLANEOUS EXPENSES 0 61,547   0


    TY 2020 OtherIncomeSchedule2
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    THIRD PARTY INCOME/(LOSS) 83,678 93,677 83,678
    MAP 2006(A), L.P. - OTHER INCOME(LOSS)   -2  
    CHATHAM ASSET PARTNERS HIGH YIELD FUND, LP - BUSINESS INCOME 0 538,266 0


    TY 2020 OtherIncreasesSchedule
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Description Amount
    UNREALIZED GAINS 498,808


    TY 2020 OtherLiabilitiesSchedule
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Description Beginning of Year - Book Value End of Year - Book Value
    OTHER PAYABLE 45,688 307,681


    TY 2020 TaxesSchedule
    Name:
    ZELL FAMILY FOUNDATION
    EIN:
    36-3487811
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX ESTIMATED PAYMENTS 1,735,000 0   0
    STATE TAXES 15 0   15