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
THE KAPHAN FOUNDATION
C/O KING & OLIASON PLLC
Number and street (or P.O. box number if mail is not delivered to street address)200 W MERCER ST STE E300
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SEATTLE, WA98119
A Employer identification number

65-1211107
B Telephone number (see instructions)

(206) 285-7242
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$444,359,149J 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) 473,735
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 846,051 792,169  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,071,534
b Gross sales price for all assets on line 6a 5,062,584
7 Capital gain net income (from Part IV, line 2)... 2,498,581
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 -36,818 -36,818 0
12 Total. Add lines 1 through 11........ 3,354,502 3,253,932 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 10,724 0 0 10,724
b Accounting fees (attach schedule)....... Click to see attachment 45,860 22,930 0 22,930
c Other professional fees (attach schedule).... Click to see attachment 55,966 55,966 0 0
17 Interest............... 3,104 3,104 0 0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 36,088 16,088 0 0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 41,732 41,732 0 0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 193,474 139,820 0 33,654
25 Contributions, gifts, grants paid....... 10,441,843 10,441,843
26 Total expenses and disbursements. Add lines 24 and 25 10,635,317 139,820 0 10,475,497
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -7,280,815
b Net investment income (if negative, enter -0-) 3,114,112
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 301,345 374,430 374,430
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) 5,394,016 Click to see attachment4,974,617 5,357,797
b Investments—corporate stock (attach schedule)....... 123,519,201 Click to see attachment122,929,461 431,425,366
c Investments—corporate bonds (attach schedule)....... 3,561,681 Click to see attachment4,209,978 4,532,945
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 699,753 Click to see attachment944,312 1,373,619
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment1,233,325 Click to see attachment1,294,992 Click to see attachment1,294,992
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 134,709,321 134,727,790 444,359,149
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 134,709,321 134,727,790
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 134,709,321 134,727,790
30 Total liabilities and net assets/fund balances (see instructions). 134,709,321 134,727,790
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
134,709,321
2
Enter amount from Part I, line 27a .....................
2
-7,280,815
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
7,299,285
4
Add lines 1, 2, and 3 ..........................
4
134,727,791
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
1
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
134,727,790
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 ABERDEEN INTERNATIONAL PARTNERSHIP P   2020-12-31
b ABERDEEN VENTURE PARTNERS VII P   2020-12-31
c ABERDEEN PRIVATE EQUITY IV P   2020-12-31
d PUBLICLY TRADED SECURITIES      
e PUBLICLY TRADED SECURITIES      
PUBLICLY TRADED SECURITIES      
TOWNSEND REAL ESTATE ALPHA FUND III P   2020-12-31
(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 72,034   35,542 36,492
b 69,457   21,730 47,727
c 33,240   16,262 16,978
d 388,238   380,099 8,139
e 2,038,224   1,941,992 96,232
2,461,391   168,099 2,293,292
      -279
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       36,492
b       47,727
c       16,978
d       8,139
e       96,232
      2,293,292
      -279
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,498,581
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 8,139
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 43,286
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 43,286
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 43,286
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 23,447
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 50,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 73,447
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 30,161
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet30,161 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
 
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)
    bulletWA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletKING OLIASON PLLC Telephone no.bullet (206) 285-7242

    Located atbullet200 W MERCER ST SUITE E300SEATTLEWA ZIP+4bullet981193995
    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
     
     
    ........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
    SHELDON J KAPHAN PRES, VP, TREAS
    5.00     		0 0 0
    200 W MERCER ST SUITE E300
    SEATTLE,WA98119
    MATTHEW B MCCUTCHEN SECRETARY
    1.00     		0 0 0
    200 W MERCER ST SUITE E300
    SEATTLE,WA98119
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 LIMITED RECOURSE LOAN TO GLOBAL PARTNERSHIPS TO ENABLETHE LAUNCH OF SOCIAL INVESTMENT FUND 6.0, WHICH WORKS TOEXPAND OPPORTUNITY FOR PEOPLE LIVING IN POVERTY 28,941
    2 LIMITED RECOURSE LOAN TO GLOBAL PARTNERSHIPS TO ENABLETHE LAUNCH OF SOCIAL INVESTMENT FUND 5.0, WHICH WORKS TOEXPAND OPPORTUNITY FOR PEOPLE LIVING IN POVERTY 32,726
    All other program-related investments. See instructions.
    3 Click to see attachment 0
    Total. Add lines 1 through 3.........................bullet61,667
    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
    368,980,947
    b
    Average of monthly cash balances.......................
    1b
    387,797
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,384,238
    d
    Total (add lines 1a, b, and c).........................
    1d
    370,752,982
    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
    370,752,982
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    5,561,295
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    365,191,687
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    18,259,584
    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
    18,259,584
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    43,286
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    43,286
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    18,216,298
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    18,216,298
    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
    18,216,298
    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
    10,475,497
    b
    Program-related investments—total from Part IX-B..................
    1b
    61,667
    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
    10,537,164
    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
    10,537,164
    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 18,216,298
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 10,432,567
    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......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 10,537,164
    a Applied to 2019, but not more than line 2a 10,432,567
    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..... 104,597
    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 ..........     		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 ..........     		18,111,701
    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 ......     		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....  
    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).)
    SHELDON J KAPHAN
    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
    ACLU
    125 BROAD STREET 18TH FLOOR
    NEW YORK,NY10004     		N/A PUBLIC CHARITY GENERAL SUPPORT 329,333
    CALIFORNIA RURAL LEGAL ASSISTANCE INC
    1430 FRANKLIN STREET SUITE 103
    OAKLAND,CA94612     		N/A PUBLIC CHARITY GENERAL SUPPORT 50,000
    CAMPAIGN LEGAL CENTER
    1101 14TH STREET NW SUITE 400
    WASHINGTON,DC20005     		N/A PUBLIC CHARITY GENERAL SUPPORT 102,088
    CENTER FOR CONSTITUTIONAL RIGHTS
    666 BROADWAY 7TH FLOOR
    NEW YORK,NY10012     		N/A PUBLIC CHARITY GENERAL SUPPORT 556,981
    CHANCES FOR CHILDREN
    20343 NORTH HAYDEN RD SUITE 105-114
    SCOTTSDALE,AZ85255     		N/A PUBLIC CHARITY GENERAL SUPPORT 100,704
    CODE FOR AMERICA
    972 MISSION STREET 5TH FLOOR
    SAN FRANCISCO,CA94103     		N/A PUBLIC CHARITY GENERAL SUPPORT 252,522
    COLLEGE POSSIBLE
    1823 JAY COURT
    CARMICHAEL,CA95608     		N/A PUBLIC CHARITY GENERAL SUPPORT 65,000
    DEMOCRACY NOW
    207 W 25TH S
    NEW YORK,NY10001     		N/A PUBLIC CHARITY GENERAL SUPPORT 550,000
    DESC
    515 3RD AVE
    SEATTLE,WA98104     		N/A PUBLIC CHARITY GENERAL SUPPORT 303,666
    DOCTORS WITHOUT BORDERS
    40 RECTOR STREET 16TH FLOOR
    NEW YORK,NY10006     		N/A PUBLIC CHARITY GENERAL SUPPORT 201,408
    DONORSCHOOSEORG (TWO SCREENS FOR TEACHERS)
    134 W 37TH STREET 11TH FLOOR
    NEW YORK,NY10018     		N/A PUBLIC CHARITY GENERAL SUPPORT 100,000
    EARTH ECONOMICS
    107 N TACOMA AVE
    TACOMA,WA98403     		N/A PUBLIC CHARITY GENERAL SUPPORT 75,000
    ELECTION ADMINISTRATION RESOURCE CENTER
    209 CASHWELL CR
    GOLDSBORO,NC27534     		N/A PUBLIC CHARITY GENERAL SUPPORT 100,704
    ELECTRONIC FRONTIER FOUNDATION
    815 EDDY STREET
    SAN FRANCISCO,CA94109     		N/A PUBLIC CHARITY GENERAL SUPPORT 201,666
    FAIRVOTE
    6930 CARROLL AVENUE SUITE 240
    TAKOMA PARK,MD20912     		N/A PUBLIC CHARITY GENERAL SUPPORT 453,901
    FAIRVOTE
    6930 CARROLL AVENUE SUITE 240
    TAKOMA PARK,MD20912     		N/A PUBLIC CHARITY GENERAL SUPPORT 100,000
    FAMILIES AGAINST MANDATORY MINIMUMS
    1100 H STREET NW SUITE 1000
    WASHINGTON,DC20005     		N/A PUBLIC CHARITY GENERAL SUPPORT 75,000
    FEEDING AMERICA
    161 NORTH CLARK STREET SUITE 700
    CHICAGO,IL60601     		N/A PUBLIC CHARITY GENERAL SUPPORT 100,704
    FRED HUTCH
    1100 FAIRVIEW AVE N
    SEATTLE,WA98109     		N/A PUBLIC CHARITY GENERAL SUPPORT 151,056
    FREE PRESS
    40 MAIN STREET SUITE 301
    FLORENCE,MA01062     		N/A PUBLIC CHARITY GENERAL SUPPORT 75,000
    FUSE INNOVATION
    1402 THIRD AVE SUITE 406
    SEATTLE,WA98101     		N/A PUBLIC CHARITY GENERAL SUPPORT 90,634
    GLOBAL FUND FOR WOMEN
    800 MARKET STREET 7TH FLOOR
    SAN FRANCISCO,CA94102     		N/A PUBLIC CHARITY GENERAL SUPPORT 50,000
    GLOBAL PARTNERSHIPS
    1932 1ST AVE 400
    SEATTLE,WA98101     		N/A PUBLIC CHARITY GENERAL SUPPORT 205,239
    HIAS (HEBREW IMMIGRANT AID SOCIETY)
    1300 SPRING STREET SUITE 500
    SILVER SPRINGS,MD20910     		N/A PUBLIC CHARITY GENERAL SUPPORT 40,000
    HISPANICS IN PHILANTHROPY
    414 13TH STREET SUITE 200
    OAKLAND,CA94612     		N/A PUBLIC CHARITY GENERAL SUPPORT 100,000
    INNOCENCE PROJECT
    40 WORTH STREET SUITE701
    NEW YORK,NY10013     		N/A PUBLIC CHARITY GENERAL SUPPORT 201,408
    INTERNATIONAL RESCUE COMMITTEE
    122 EAST 42ND
    NEW YORK,NY10168     		N/A PUBLIC CHARITY GENERAL SUPPORT 201,408
    JEWISH VOICE FOR PEACE
    PO BOX 589
    BERKLEY,CA94701     		N/A PUBLIC CHARITY GENERAL SUPPORT 151,056
    KBCS - BELLEVUE COLLEGE FOUNDATION
    3000 LANDERHOLM CIRCLE SE A101
    BELLEVUE,WA98007     		N/A PUBLIC CHARITY GENERAL SUPPORT 45,000
    LONG NOW
    2 MARINA BLVD FORT MASON CENTER
    BLDG A
    SAN FRANCISCO,CA94123     		N/A PUBLIC CHARITY GENERAL SUPPORT 60,000
    MAPLIGHT
    2223 SHATTUCK AVENUE
    BERKLEY,CA94704     		N/A PUBLIC CHARITY GENERAL SUPPORT 407,735
    MORE EQUITABLE DEMOCRACY - PROTEUS FUND
    15 RESEARCH DR
    AMHERST,MA01002     		N/A PUBLIC CHARITY GENERAL SUPPORT 75,000
    NAACP
    40 RECTOR STREET 5TH FLOOR
    NEW YORK,NY10006     		N/A PUBLIC CHARITY GENERAL SUPPORT 151,056
    NATIONAL PARKS CONSERVATION
    777 6TH STREET NW SUITE 700
    WASHINGTON,DC200013723     		N/A PUBLIC CHARITY GENERAL SUPPORT 76,566
    NATURAL BRIDGES MEDIA KSQD
    PO BOX 5551
    SANTA CRUZ,CA950635551     		N/A PUBLIC CHARITY GENERAL SUPPORT 25,000
    NATURAL RESOURCE DEFENSE COUNCIL
    1152 15TH STREET NW SUITE 300
    WASHINGTON,DC20005     		N/A PUBLIC CHARITY GENERAL SUPPORT 303,666
    NORTHWEST IMMIGRANTS RIGHTS PROJECT
    615 2ND AVENUE SUITE 400
    SEATTLE,WA98104     		N/A PUBLIC CHARITY GENERAL SUPPORT 405,954
    PATH
    PO BOX 900922
    SEATTLE,WA98109     		N/A PUBLIC CHARITY GENERAL SUPPORT 50,000
    PHILANTHROPY NORTHWEST
    2101 FOURTH AVENUE SUITE 650
    SEATTLE,WA98121     		N/A PUBLIC CHARITY GENERAL SUPPORT 107,756
    PLANNED PARENTHOOD
    2001 E MADISON
    SEATTLE,WA98122     		N/A PUBLIC CHARITY GENERAL SUPPORT 453,901
    PLAYING FOR CHANGE FOUNDATION
    171 PIER AVE 271
    SANTA MONICA,CA90405     		N/A PUBLIC CHARITY GENERAL SUPPORT 37,500
    PRO PUBLICA INC
    155 AVENUE OF AMERICAS 13TH FLOOR
    NEW YORK,NY10013     		N/A PUBLIC CHARITY GENERAL SUPPORT 50,000
    RAICES
    1305 N FLORES STREET
    SAN ANTONIO,TX78212     		N/A PUBLIC CHARITY GENERAL SUPPORT 201,408
    RAINFOREST ALLIANCE
    233 BROADWAY 28TH FLOOR
    NEW YORK,NY10279     		N/A PUBLIC CHARITY GENERAL SUPPORT 75,000
    SEATTLE FOUNDATION (ALL IN WA -DIGITAL EQUITY)
    PO BOX 35146
    SEATTLE,WA98124     		N/A PUBLIC CHARITY GENERAL SUPPORT 105,624
    SEATTLE TILTH
    4649 SUNNYSIDE AVE N 100
    SEATTLE,WA98103     		N/A PUBLIC CHARITY GENERAL SUPPORT 37,500
    SIGHTLINE INSTITUTE
    1402 3RD AVE
    SEATTLE,WA98101     		N/A PUBLIC CHARITY GENERAL SUPPORT 380,382
    SUGAR PINE FOUNDATION
    1458 MT RAINIER DRIVE
    SOUTH LAKE TAHOE,CA96150     		N/A PUBLIC CHARITY GENERAL SUPPORT 37,500
    THE NATURE CONSERVANCY
    74 WALL STREET
    SEATTLE,WA98121     		N/A PUBLIC CHARITY GENERAL SUPPORT 151,056
    THE SEATTLE PUBLIC LIBRARY FOUNDATION
    1000 FOURTH AVE
    SEATTLE,WA98104     		N/A PUBLIC CHARITY GENERAL SUPPORT 50,000
    THE VOTER PARTICIPATION CENTER
    1707 L STREET NORTHWEST SUITE 950
    WASHINGTON,DC20036     		N/A PUBLIC CHARITY GENERAL SUPPORT 250,000
    TOWN HALL
    1119 8TH AVE
    SEATTLE,WA98101     		N/A PUBLIC CHARITY GENERAL SUPPORT 303,666
    UNION OF CONCERNED SCIENTISTS
    TWO BRATTLE SQ
    CAMBRIDGE,MA02138     		N/A PUBLIC CHARITY GENERAL SUPPORT 75,000
    UPAYA SOCIAL VENTURES
    PO BOX 9603
    SEATTLE,WA98109     		N/A PUBLIC CHARITY GENERAL SUPPORT 60,000
    UW MEDICINE
    4333 BROOKLYN AVE NE BOX 359505
    SEATTLE,WA98195     		N/A PUBLIC CHARITY GENERAL SUPPORT 453,901
    WASHINGTON PROGRESS FUND
    1402 3RD AVE RM 201
    SEATTLE,WA98101     		N/A PUBLIC CHARITY GENERAL SUPPORT 105,624
    WE THE PROTESTERS
    346 E 119TH ST 3B
    NEW YORK,NY10035     		N/A PUBLIC CHARITY GENERAL SUPPORT 50,000
    WIKIMEDIA
    1 MONTGOMERY STREET SUITE 1600
    SAN FRANCISCO,CA94104     		N/A PUBLIC CHARITY GENERAL SUPPORT 151,056
    WIN-WIN NETWORK
    1402 3RD AVE 201
    SEATTLE,WA98101     		N/A PUBLIC CHARITY GENERAL SUPPORT 60,000
    WORLD CENTRAL KITCHEN
    655 NEW YORK AVE NW 6TH FLOOR
    WASHINGTON,DC20001     		N/A PUBLIC CHARITY GENERAL SUPPORT 251,760
    WORLDREADER
    40 RINGOLD ST
    SAN FRANCISCO,CA94103     		N/A PUBLIC CHARITY GENERAL SUPPORT 408,754
    Total .................................bullet 3a 10,441,843
    bApproved for future payment
    GLOBAL PARTNERSHIPS
    1932 1ST AVE 400
    SEATTLE,WA98101     		N/A PUBLIC CHARITY GENERAL SUPPORT 400,000
    WORLDREADER
    40 RINGOLD ST
    SAN FRANCISCO,CA94103     		N/A PUBLIC CHARITY GENERAL SUPPORT 800,000
    Total .................................bullet 3b 1,200,000
    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 ...........     		         
    4 Dividends and interest from securities....     14 846,051  
    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 2,071,534  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aTOWNSEND REAL ESTATE ALPHA FUND III     		    01 -36,818  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 2,880,767 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,880,767
    (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
    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
    THE KAPHAN FOUNDATION
    C/O KING & OLIASON PLLC
    Employer identification number

    65-1211107
    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
    THE KAPHAN FOUNDATION
    C/O KING & OLIASON PLLC         		Employer identification number
    65-1211107
    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
    SHELDON J KAPHAN
    C/O KING OLIASON 200 W MERCER ST E3
     
    SEATTLE, WA98119

    		$ 473,735


    (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.)
    (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
    THE KAPHAN FOUNDATION
    C/O KING & OLIASON PLLC         		Employer identification number

    65-1211107
    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
    		 150 SHARES AMAZON, INC $ 473,735 2020-12-14
    (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
     
    		$    
    (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
    THE KAPHAN FOUNDATION
    C/O KING & OLIASON PLLC         		Employer identification number

    65-1211107
    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:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 45,860 22,930 0 22,930

    TY 2020 AllOthProgRltdInvestmentsSch
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Category Amount
    NONE 0

    TY 2020 GeneralExplanationAttachment
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Identifier Return Reference Explanation
    STOCK GRANTS - DETERMINATION OF VALUE FORM 990PF, PART XV RECIPIENT NAME: ACLUDATE OF GIFT: 11/27/2020DESCRIPTION OF DONATED PROPERTY: 514 SHARES FACEBOOK BOOK VALUE OF DONATED PROPERTY: $68,018METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $142,365METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: ACLUDATE OF GIFT: 11/27/2020DESCRIPTION OF DONATED PROPERTY: 1,600 SHARES APPLE BOOK VALUE OF DONATED PROPERTY: $10,605METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $186,968METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: CAMPAIGN LEGAL CENTERDATE OF GIFT: 12/18/2020DESCRIPTION OF DONATED PROPERTY: 800 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $5,302METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $102,888METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: CENTER FOR CONSTITUTIONAL RIGHTSDATE OF GIFT: 12/22/2020DESCRIPTION OF DONATED PROPERTY: 174 SHARES AMAZONBOOK VALUE OF DONATED PROPERTY: $6,983METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $556,981METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: CHANCES FOR CHILDRENDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 800 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $5,302METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $100,704METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: CODE FOR AMERICADATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 79 SHARES AMAZONBOOK VALUE OF DONATED PROPERTY: $3,171METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $252,522METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: DESCDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 95 SHARES AMAZONBOOK VALUE OF DONATED PROPERTY: $3,813METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $303,666METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: DOCTORS WITHOUT BORDERDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 1,600 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $10,605METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $201,408METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: ELECTION ADMINISTRATION RESOURCE CENTERDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 800 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $5,302METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $100,704METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: ELECTRONIC FRONTIER FOUNDATIONDATE OF GIFT: 12/22/2020DESCRIPTION OF DONATED PROPERTY: 63 SHARES AMAZONBOOK VALUE OF DONATED PROPERTY: $2,529METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $201,666METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: FAIRVOTEDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 142 SHARES AMAZONBOOK VALUE OF DONATED PROPERTY: $5,699METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $453,901METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: FEEDING AMERICADATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 800 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $5,302METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $100,704METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: FRED HUTCHDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 1,200 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $7,953METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $151,056METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: FUSE INNOVATIONDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 720 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $4,772METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $90,634METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: GLOBAL PARTNERSHIPSDATE OF GIFT: 11/27/2020DESCRIPTION OF DONATED PROPERTY: 4300 SHARES INTCBOOK VALUE OF DONATED PROPERTY: $195,758METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $205,239METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: INNOCENCE PROJECTDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 1,600 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $10,605METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $201,408METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: INTERNATIONAL RESCUE COMMITTEEDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 1,600 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $10,605METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $201,408METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: JEWISH VOICE FOR PEACEDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 1,200 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $7,953METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $151,056METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: MAPLIGHTDATE OF GIFT: 12/18/2020DESCRIPTION OF DONATED PROPERTY: 127 SHARES AMAZONBOOK VALUE OF DONATED PROPERTY: $5,097METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $407,735METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: NAACPDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 1,200 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $7,953METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $151,056METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: NATIONAL PARKS CONSERVATIONDATE OF GIFT: 12/18/2020DESCRIPTION OF DONATED PROPERTY: 600 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $3,977METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $76,566METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: NATURAL RESOURCE DEFENSE COUNCILDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 95 SHARES AMAZONBOOK VALUE OF DONATED PROPERTY: $3,813METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $303,666METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: NORTHWEST IMMIGRANTS RIGHTS PROJECT DATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 127 SHARES AMAZONBOOK VALUE OF DONATED PROPERTY: $5,097METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $405,954METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: PHILANTHROPY NORTHWESTDATE OF GIFT: 12/30/2020DESCRIPTION OF DONATED PROPERTY: 800 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $5,302METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $107,756METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: PLANNED PARENTHOODDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 142 SHARES AMAZONBOOK VALUE OF DONATED PROPERTY: $5,699METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $456,901METHOD USED TO DETERMINE FMV: AVERAGE HIGH-LOW ON DATE OF GIFTRECIPIENT NAME: RAICESDATE OF GIFT: 12/21/2020DESCRIPTION OF DONATED PROPERTY: 1,600 SHARES APPLEBOOK VALUE OF DONATED PROPERTY: $10,605METHOD USED TO DETERMINE BOOK VALUE: SPECIFIC COSTFAIR MARKET VALUE OF DONATED PROPERTY: $201,408

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Name of Bond End of Year Book Value End of Year Fair Market Value
    SECURITIES - CORPORATE BONDS 4,209,978 4,532,945

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AMAZON.COM 103,931,622 393,170,076
    VANGUARD FUND 13,718,831 19,346,956
    SECURITIES - CORPORATE STOCK 5,279,008 18,908,334

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    US Government Securities - End of Year Book Value:

    3,190,585
    US Government Securities - End of Year Fair Market Value:

    3,405,984
    State & Local Government Securities - End of Year Book Value:


    1,784,032
    State & Local Government Securities - End of Year Fair Market Value:


    1,951,813


    TY 2020 InvestmentsOtherSchedule2
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ABERDEEN INT'L PARTNERS II (OFS) AT COST 129,704 290,996
    ABERDEEN PRIVATE EQUITY IV (OFS) AT COST 98,158 207,503
    ABERDEEN VENTURE PTNRS VII (OFS) AT COST 43,256 201,926
    TOWNSEND REAL ESTATE ALPHA FUND III AT COST 673,194 673,194

    TY 2020 LegalFeesSchedule
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 10,724 0 0 10,724


    TY 2020 OtherAssetsSchedule
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PRI ASSETS-GLOBAL PARTNERSHIPS 1,233,325 1,294,992 1,294,992


    TY 2020 OtherDecreasesSchedule
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Description Amount
    NON-DEDUCTIBLE EXPENSE FROM INVESTMENT 1


    TY 2020 OtherExpensesSchedule
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT DEDUCTIONS 41,732 41,732 0 0


    TY 2020 OtherIncomeSchedule2
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    TOWNSEND REAL ESTATE ALPHA FUND III -36,818 -36,818 -36,818


    TY 2020 OtherIncreasesSchedule
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Description Amount
    DIFFERENCE BETWEEN FMV & BOOK BASIS ON SECURITIES GRANTED 7,299,285


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 55,966 55,966 0 0


    TY 2020 TaxesSchedule
    Name:
    THE KAPHAN FOUNDATION
     
    C/O KING & OLIASON PLLC
    EIN:
    65-1211107
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES PAID 16,088 16,088 0 0
    FEDERAL EXCISE TAX 20,000 0 0 0