Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
THE GERSTNER FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)CO BESSEMER TR 222 ROYAL PALM WA
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PALM BEACH, FL334804303
A Employer identification number

20-8559135
B Telephone number (see instructions)

(561) 655-4030
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$203,142,683J 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) 983
2 Check bullet.............
3 Interest on savings and temporary cash investments 9,783 9,783  
4 Dividends and interest from securities... 3,136,051 3,090,747  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 9,273,742
b Gross sales price for all assets on line 6a 80,114,851
7 Capital gain net income (from Part IV, line 2)... 8,769,500
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 1,936,338 36,055  
12 Total. Add lines 1 through 11........ 14,356,897 11,906,085  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 395,000 100,000   295,000
14 Other employee salaries and wages...... 296,000 0   296,000
15 Pension plans, employee benefits....... 44,818 3,219   41,599
16a Legal fees (attach schedule)......... Click to see attachment 7,123 0   7,123
b Accounting fees (attach schedule)....... Click to see attachment 24,850 0   16,350
c Other professional fees (attach schedule).... Click to see attachment 370,522 259,657   110,865
17 Interest............... 123,499 103,252   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 23,377 15,733   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 73,301 0   73,301
21 Travel, conferences, and meetings....... 1,711 0   1,711
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 982,004 424,994   35,796
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,342,205 906,855   877,745
25 Contributions, gifts, grants paid....... 7,343,460 7,343,460
26 Total expenses and disbursements. Add lines 24 and 25 9,685,665 906,855   8,221,205
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 4,671,232
b Net investment income (if negative, enter -0-) 10,999,230
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.............      
2 Savings and temporary cash investments......... 1,390,476 4,143,426 4,143,426
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) 22,082,562 Click to see attachment17,471,364 17,620,582
b Investments—corporate stock (attach schedule)....... 10,744,483 Click to see attachment8,176,525 9,449,440
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 114,149,474 Click to see attachment125,373,003 171,726,549
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment2,257,130 Click to see attachment202,686 Click to see attachment202,686
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 150,624,125 155,367,004 203,142,683
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) Click to see attachment0 Click to see attachment71,647
23 Total liabilities (add lines 17 through 22)......... 0 71,647
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........... 150,624,125 155,295,357
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)..... 150,624,125 155,295,357
30 Total liabilities and net assets/fund balances (see instructions). 150,624,125 155,367,004
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
150,624,125
2
Enter amount from Part I, line 27a .....................
2
4,671,232
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
155,295,357
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
155,295,357
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      
b CASTLE HOOK OFFSHORE FUND LTD P   2020-03-31
c CASTLE HOOK OFFSHORE FUND LTD P   2020-06-30
d BREP VI ALBERTA FEEDER (OFFSHORE) TE.2-Q P    
e THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS (OFFSHORE) V L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS V L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VI.TE.2 L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VI.TE.2-NQ L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH.2) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH.3) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH.4) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F-NQ (AV-LH.3) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F-NQ (AV-LH.4) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS IX.F (AV-UTP) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS IX.F L.P. P    
THRU SCHEDULE K-1 - CARLYLE GLOBAL PARTNERS MASTER COINVESTMENT CAYMAN, L.P. P    
THRU SCHEDULE K-1 - CARLYLE GLOBAL PARTNERS MASTER COINVESTMENT, L.P. P    
THRU SCHEDULE K-1 - CARLYLE PROPERTY INVESTORS, L.P. P    
THRU SCHEDULE K-1 - FIELDPOINT LLC P    
THRU SCHEDULE K-1 - GLOBAL CREDIT OPPORTUNITIES FUND LP P    
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 74,431,384   68,363,517 6,067,867
b 1,873,253   2,000,000 -126,747
c 2,180,269   2,000,000 180,269
d       21,012
e       -133
      4,240
      118
      -951
      4,689
      6,408
      2,189
      38,376
      -812
      18,770
      10,554
      63,815
      868,425
      -104,490
      28,073
      19,841
      38,042
1,629,945     1,629,945
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       6,067,867
b       -126,747
c       180,269
d       21,012
e       -133
      4,240
      118
      -951
      4,689
      6,408
      2,189
      38,376
      -812
      18,770
      10,554
      63,815
      868,425
      -104,490
      28,073
      19,841
      38,042
      1,629,945
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 8,769,500
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................................ 1 152,889
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........................... 3 152,889
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- ..... 5 152,889
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 179,620
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.............. 7 179,620
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 26,731
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet26,731 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 changesClick to see attachment....
3
Yes
 
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)
    bulletFL, NY
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletHTTPS://GERSTNER.ORG
    14
    The books are in care ofbulletBESSEMER TRUST COMPANY OF FLORIDA Telephone no.bullet (561) 655-4030

    Located atbullet222 ROYAL PALM WAYPALM BEACHFL ZIP+4bullet334804303
    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
    LOUIS V GERSTNER JR TRUSTEE, CHAIRPERSON
    8.00     		0 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    DR ELIZABETH R GERSTNER TRUSTEE, VICE PRESIDENT
    8.00     		62,000 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    LEA CARPENTER-BROKAW TRUSTEE
    2.00     		2,000 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    SANDRA HORBACH TRUSTEE
    2.00     		2,000 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    STANLEY LITOW TRUSTEE
    2.00     		2,000 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    BESSEMER TRUST COMPANY OF FLORIDA TRUSTEE
    2.00     		0 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    KARA V KLEIN TRUSTEE, EXECUTIVE DIRECTOR
    25.00     		327,000 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    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
    SARAH D PERSILY PROGRAM DIRECTOR
    40.00     		215,000 9,900 0
    222 ROYAL PALM WAY
    PALM BEACH,FL334804303
    MOLLY C GELINAS PROGRAM ASSISTANT
    40.00     		81,000 4,500 0
    222 ROYAL PALM WAY
    PALM BEACH,FL334804303
    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
    BLACKSTONE REAL ESTATE ADVISORS LP INVESTMENT MANAGEMENT 198,569
    345 PARK AVENUE SUITE 1100
    NEW YORK,NY101541703
    AVON LANE LLC FOUNDATION ADMINISTRATION 110,865
    20 OLD POST ROAD
    ARMONK,NY105041314
    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  
    2  
    All other program-related investments. See instructions.
    3  
    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
    157,202,563
    b
    Average of monthly cash balances.......................
    1b
    25,649,185
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    182,851,748
    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
    182,851,748
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    2,742,776
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    180,108,972
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    9,005,449
    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
    9,005,449
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    152,889
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    152,889
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    8,852,560
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    8,852,560
    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
    8,852,560
    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
    8,221,205
    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
    8,221,205
    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
    8,221,205
    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 8,852,560
    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...... 849,012
    d From 2018......  
    e From 2019...... 1,075,656
    fTotal of lines 3a through e........ 1,924,668
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 8,221,205
    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..... 8,221,205
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 631,355 631,355
    (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 1,293,313
    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 ......     		1,293,313
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017.... 217,657
    c Excess from 2018....  
    d Excess from 2019.... 1,075,656
    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).)
    LOUIS V GERSTNER JR
    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
    ADOPT-A-FAMILY OF THE PALM BEACHES INC
    1712 2ND AVENUE NORTH
    LAKE WORTH,FL334603210     		N/A PC EMERGENCY GRANTS PROGRAM 250,000
    AID TO VICTIMS OF DOMESTIC ABUSE INC
    PO BOX 6161
    DELRAY BEACH,FL334826161     		N/A PC EMERGENCY GRANTS PROGRAM 100,000
    AMERICAN MUSEUM OF NATURAL HISTORY
    200 CENTRAL PARK WEST
    NEW YORK,NY100245102     		N/A PC BIOMEDICAL RESEARCH 1,000,000
    BRIDGE FUND OF NEW YORK INC
    271 MADISON AVENUE SUITE 907
    NEW YORK,NY100161037     		N/A PC EMERGENCY GRANTS PROGRAM 150,000
    BRIDGE FUND OF NEW YORK INC
    271 MADISON AVENUE SUITE 907
    NEW YORK,NY100161037     		N/A PC EMERGENCY GRANTS PROGRAM 350,000
    BRONXWORKS INC
    60 EAST TREMONT AVENUE
    BRONX,NY104535842     		N/A PC EMERGENCY GRANTS PROGRAM 75,000
    BUFFALO STATE COLLEGE FOUNDATION INC
    1300 ELMWOOD AVENUE
    BUFFALO,NY142221004     		N/A PC EMERGENCY GRANTS PROGRAM 27,500
    CATHOLIC CHARITIES OF THE DIOCESE OF PALM BEACH INC
    9995 N MILITARY TRAIL
    PALM BEACH GARDENS,FL334105460     		N/A PC EMERGENCY GRANTS PROGRAM 20,000
    COALITION FOR THE HOMELESS INC
    129 FULTON STREET
    NEW YORK,NY100382746     		N/A PC JOB TRAINING PROGRAM 75,000
    COALITION FOR THE HOMELESS INC
    129 FULTON STREET
    NEW YORK,NY100382746     		N/A PC EMERGENCY GRANTS PROGRAM 320,000
    CORNELL UNIVERSITY
    300 DAY HALL
    ITHACA,NY148532801     		N/A PC EMERGENCY GRANTS PROGRAM 20,000
    DARTMOUTH COLLEGE
    6066 DEVELOPMENT OFFICE
    HANOVER,NH037554400     		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 1,200,000
    DIOCESE OF PALM BEACH
    9995 N MILITARY TRAIL
    PALM BEACH GARDENS,FL334105460     		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 297,000
    DIOCESE OF PALM BEACH
    9995 N MILITARY TRAIL
    PALM BEACH GARDENS,FL334105460     		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 99,000
    DUKE UNIVERSITY
    700 W MAIN STREET SUITE 110
    DURHAM,NC277012999     		N/A PC GENERAL SUPPORT 10,000
    DUTCHESS COMMUNITY COLLEGE FOUNDATION
    53 PENDELL ROAD
    POUGHKEEPSIE,NY126011512     		N/A PC EMERGENCY GRANTS PROGRAM 27,500
    EDUCATIONAL FOUNDATION OF ORANGE COUNTY COMMUNITY COLLEGE INC
    115 SOUTH STREET
    MIDDLETOWN,NY109406404     		N/A PC EMERGENCY GRANTS PROGRAM 12,500
    FAMILYAID BOSTON INC
    727 ATLANTIC AVENUE
    BOSTON,MA021112810     		N/A PC EMERGENCY GRANTS PROGRAM 300,000
    FOUNDATIONS AND DONORS INTERESTED IN CATHOLIC ACTIVITIES
    4201 CONNECTICUT AVENUE NW
    WASHINGTON,DC200081158     		N/A PC GENERAL SUPPORT 10,000
    FRIENDS OF THE BKLYN NEW SCHOOL - BKLYN SCHOOL FOR COLLAB STUDIES
    610 HENRY STREET
    BROOKLYN,NY112312612     		N/A PC EMERGENCY GRANTS PROGRAM 10,000
    GOOD SHEPHERD SERVICES
    305 7TH AVENUE
    NEW YORK,NY100016008     		N/A PC EMERGENCY GRANTS PROGRAM 110,000
    HAVENS RELIEF FUND SOCIETY
    475 RIVERSIDE DRIVE
    NEW YORK,NY101150002     		N/A POF EMERGENCY GRANTS PROGRAM 275,000
    LEGAL SERVICES NYC
    40 WORTH STREET
    NEW YORK,NY100132904     		N/A PC EMERGENCY GRANTS PROGRAM 200,000
    LEGAL SERVICES OF THE HUDSON VALLEY
    90 MAPLE AVENUE
    WHITE PLAINS,NY106015105     		N/A PC EMERGENCY GRANTS PROGRAM 50,000
    LENOX HILL NEIGHBORHOOD HOUSE
    331 EAST 70TH STREET
    NEW YORK,NY100218698     		N/A PC EMERGENCY GRANTS PROGRAM 100,000
    MASSACHUSETTS GENERAL HOSPITAL
    125 NASHUA STREET SUITE 540
    BOSTON,MA021141106     		N/A PC EMERGENCY GRANTS PROGRAM 110,260
    MASSACHUSETTS GENERAL HOSPITAL
    125 NASHUA STREET SUITE 540
    BOSTON,MA021141106     		N/A PC BIOMEDICAL RESEARCH 35,000
    NORTHERN MANHATTAN IMPROVEMENT CORPORATION
    45 WADSWORTH AVENUE
    NEW YORK,NY100337048     		N/A PC EMERGENCY GRANTS PROGRAM 100,000
    PART OF THE SOLUTION INC
    2759 WEBSTER AVENUE
    BRONX,NY104583708     		N/A PC EMERGENCY GRANTS PROGRAM 165,000
    PHILANTHROPY NEW YORK INC
    79 FIFTH AVENUE
    NEW YORK,NY100033034     		N/A PC GENERAL SUPPORT 14,350
    PHILANTHROPY NEW YORK INC
    79 FIFTH AVENUE
    NEW YORK,NY100033034     		N/A PC GENERAL SUPPORT 15,100
    ROCKEFELLER UNIVERSITY
    1230 YORK AVENUE
    NEW YORK,NY100656399     		N/A PC GENERAL SUPPORT 20,000
    SAFE HORIZON INC
    2 LAFAYETTE STREET
    NEW YORK,NY100071307     		N/A PC EMERGENCY GRANTS PROGRAM 275,000
    SANCTUARY FOR FAMILIES INC
    PO BOX 1406
    NEW YORK,NY102681401     		N/A PC EMERGENCY GRANTS PROGRAM 180,000
    SANCTUARY FOR FAMILIES INC
    PO BOX 1406
    NEW YORK,NY102681401     		N/A PC JOB TRAINING PROGRAM 75,000
    SCHOLARSHIP AMERICA INC
    7900 INTERNATIONAL DRIVE SUITE 500
    MINNEAPOLIS,MN554252561     		N/A PC EMERGENCY GRANTS PROGRAM 7,750
    SETON EDUCATION PARTNERS
    1562 FIRST AVENUE SUITE 205-2219
    NEW YORK,NY100284004     		N/A PC SUPPORT FOR OPENING NEW CHARTER SCHOOLS 375,000
    SETON EDUCATION PARTNERS
    1562 FIRST AVENUE SUITE 205-2219
    NEW YORK,NY100284004     		N/A PC SUPPORT FOR OPENING NEW CHARTER SCHOOLS 375,000
    STATE UNIVERSITY COLLEGE AT ONEONTA FOUNDATION CORPORATION
    308 NETZER ADMINISTRATION BUILDING
    108 RAVINE PARKWAY
    ONEONTA,NY138202685     		N/A PC EMERGENCY GRANTS PROGRAM 27,500
    THE DOOR - A CENTER FOR ALTERNATIVES INC
    121 AVENUE OF THE AMERICAS
    NEW YORK,NY100131510     		N/A PC EMERGENCY GRANTS PROGRAM 25,000
    THIRD OPTION FOUNDATION
    11160C1 SOUTH LAKES DRIVE
    RESTON,VA201914327     		N/A PC GENERAL SUPPORT 20,000
    UNIVERSITY AT ALBANY FOUNDATION
    1400 WASHINGTON AVENUE UAB 226
    ALBANY,NY122220001     		N/A PC EMERGENCY GRANTS PROGRAM 41,250
    UNIVERSITY AT BUFFALO FOUNDATION INC
    PO BOX 900
    BUFFALO,NY142260900     		N/A PC EMERGENCY GRANTS PROGRAM 41,250
    UNIVERSITY SETTLEMENT SOCIETY OF NEW YORK
    184 ELDRIDGE STREET
    NEW YORK,NY100022924     		N/A PC EMERGENCY GRANTS PROGRAM 45,000
    WESTCHESTER COMMUNITY COLLEGE FOUNDATION INC
    75 GRASSLANDS ROAD
    VALHALLA,NY105951550     		N/A PC EMERGENCY GRANTS PROGRAM 75,000
    WOODS HOLE OCEANOGRAPHIC INSTITUTION
    266 WOODS HOLE ROAD
    WOODS HOLE,MA025431535     		N/A PC ENVIRONMENTAL RESEARCH 75,000
    WOODS HOLE OCEANOGRAPHIC INSTITUTION
    266 WOODS HOLE ROAD
    WOODS HOLE,MA025431535     		N/A PC ENVIRONMENTAL RESEARCH 75,000
    YWCA OF PALM BEACH COUNTY
    1016 N DIXIE HIGHWAY
    WEST PALM BEACH,FL334013306     		N/A PC EMERGENCY GRANTS PROGRAM 82,500
    Total .................................bullet 3a 7,343,460
    bApproved for future payment
    Total .................................bullet 3b 0
    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 9,783  
    4 Dividends and interest from securities.... 525990 45,304 14 3,090,747  
    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 ............     		525990 493,087 18 8,780,655  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aOTHER INCOME THRU SCHEDULE K-1S     		525990 1,900,283 14 36,055  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 2,438,674 11,917,240 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    14,355,914
    (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

    TY 2020 AccountingFeesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX RETURN PREPARATION FEES 24,850 0   16,350

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

    TY 2020 ExpenditureResponsibilityStmt
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    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
    HAVENS RELIEF FUND SOCIETY
          		475 RIVERSIDE DRIVE
    NEW YORK,NY101150002     		2020-01-15 275,000 EMERGENCY GRANTS PROGRAM 275,000 TO THE GRANTOR'S KNOWLEDGE, NO FUNDS HAVE BEEN DIVERTED FROM THE PURPOSE OF 04/20/2020, 07/31/2020, 10/30/2020, AND 01/29/2021   N/A

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ACCENTURE PLC CMN CLASS A (ACN) 1,600.000 SHARES 344,968 417,936
    ADOBE INC (ADBE) 40.000 SHARES 18,762 20,004
    AIR PRODUCTS & CHEMICALS (APD) 70.000 SHARES 19,897 19,125
    ALIBABA GROUP HOLDINGS LTD (BABA) 65.000 SHARES 17,928 15,127
    ALPHABET INC CLASS C (GOOG) 30.000 SHARES 53,085 52,556
    AMAZON.COM INC (AMZN) 15.000 SHARES 46,980 48,853
    AMEREN CORP (AEE) 135.000 SHARES 10,638 10,538
    AMERICAN TOWER CORP (AMT) 85.000 SHARES 19,521 19,079
    AMERICAN WATER WORKS CO (AWK) 60.000 SHARES 9,249 9,208
    AMPHENOL CORP (APH) 105.000 SHARES 13,700 13,730
    AON PLC (AON) 45.000 SHARES 9,397 9,507
    APPLE INC (AAPL) 465.000 SHARES 53,858 61,700
    ASML HOLDING (ASML) 15.000 SHARES 6,726 7,317
    AVALONBAY COMMUNITIES INC CMN (AVB) 1,015.000 SHARES 150,193 162,836
    BANK OF AMERICA CORP (BAC) 835.000 SHARES 23,905 25,308
    BLACKROCK INC (BLK) 20.000 SHARES 13,917 14,430
    BLACKROCK, INC. CMN (BLK) 500.000 SHARES 325,748 360,770
    BLACKSTONE GROUP INC (BX) 300.000 SHARES 17,966 19,443
    BRISTOL-MYERS SQUIBB COMPANY CMN (BMY) 6,300.000 SHARES 383,059 390,789
    CHARTER COMMUNICATIONS INC (CHTR) 40.000 SHARES 26,147 26,462
    CHEVRON CORPORATION CMN (CVX) 2,413.000 SHARES 212,636 203,778
    CHUBB LIMITED (CB) 70.000 SHARES 10,706 10,774
    CINTAS CORP (CTAS) 35.000 SHARES 12,720 12,371
    CISCO SYSTEMS, INC. CMN (CSCO) 8,600.000 SHARES 384,218 384,850
    CITIGROUP INC (C) 180.000 SHARES 10,072 11,098
    COCA-COLA COMPANY (THE) CMN (KO) 7,100.000 SHARES 338,301 389,364
    COMCAST CORPORATION CMN CLASS A VOTING (CMCSA) 8,700.000 SHARES 329,411 455,880
    CONOCOPHILLIPS (COP) 320.000 SHARES 14,064 12,796
    DANAHER CORP (DHR) 105.000 SHARES 22,905 23,324
    EATON CORP PLC CMN (ETN) 1,800.000 SHARES 159,516 216,252
    FACEBOOK INC-A (FB) 145.000 SHARES 39,973 39,608
    FIDELITY NATL INFO SVCS (FIS) 170.000 SHARES 25,299 24,048
    FORTIVE CO (FTV) 190.000 SHARES 13,729 13,455
    HILTON WORLDWIDE HOLDINGS (HLT) 140.000 SHARES 15,207 15,576
    HOME DEPOT (HD) 35.000 SHARES 9,622 9,296
    HONEYWELL INTL INC CMN (HON) 2,008.000 SHARES 296,313 427,102
    ILLINOIS TOOL WORKS CMN (ITW) 1,100.000 SHARES 191,251 224,268
    INTERNATIONAL PAPER CO. CMN (IP) 4,400.000 SHARES 138,525 218,768
    IQVIA HOLDINGS INC (IQV) 155.000 SHARES 26,735 27,771
    JOHNSON & JOHNSON CMN (JNJ) 3,000.000 SHARES 436,809 472,140
    JPMORGAN CHASE & CO CMN (JPM) 3,901.000 SHARES 364,256 495,700
    LVMH MOET HENNESSY VUITTON (LVMUY) 25.000 SHARES 14,780 15,673
    MC DONALDS CORP CMN (MCD) 1,714.000 SHARES 307,990 367,790
    MEDTRONIC PUBLIC LIMITED COMPA CMN (MDT) 3,300.000 SHARES 358,408 386,562
    MICROSOFT CORP (MSFT) 345.000 SHARES 73,835 76,734
    MICROSOFT CORPORATION CMN (MSFT) 1,900.000 SHARES 348,179 422,598
    NIKE INC CL B (NKE) 200.000 SHARES 26,943 28,294
    PEPSICO INC (PEP) 145.000 SHARES 20,848 21,503
    PIONEER NATURAL RESOURCES (PXD) 55.000 SHARES 6,050 6,263
    QUALCOMM INC CMN (QCOM) 2,700.000 SHARES 347,570 411,318
    ROSS STORES INC (ROST) 135.000 SHARES 15,188 16,579
    S&P GLOBAL INC. (SPGI) 30.000 SHARES 10,134 9,861
    SAFRAN SA (SAFRY) 110.000 SHARES 16,318 15,651
    SCHWAB CHARLES CORP NEW (SCHW) 205.000 SHARES 10,133 10,873
    SEA LTD ADR (SE) 75.000 SHARES 13,213 14,928
    SEMPRA ENERGY CMN (SRE) 1,600.000 SHARES 195,551 203,856
    SERVICENOW INC (NOW) 30.000 SHARES 15,482 16,512
    TENCENT HOLDINGS LTD 260.000 SHARES 19,745 18,907
    TEXAS INSTRUMENTS INC (TXN) 170.000 SHARES 26,996 27,902
    TEXAS INSTRUMENTS INC. CMN (TXN) 2,300.000 SHARES 244,921 377,499
    THE HOME DEPOT, INC. CMN (HD) 1,500.000 SHARES 363,264 398,430
    THERMO FISHER SCIENTIFIC (TMO) 53.000 SHARES 23,215 24,686
    UNION PACIFIC CORP (UNP) 150.000 SHARES 31,334 31,233
    UNION PACIFIC CORP. CMN (UNP) 1,427.000 SHARES 234,949 297,130
    UNITEDHEALTH GROUP INC (UNH) 70.000 SHARES 23,459 24,547
    VENTAS, INC. CMN (VTR) 3,621.000 SHARES 159,133 177,574
    VERIZON COMMUNICATIONS, INC. CMN (VZ) 6,200.000 SHARES 343,031 364,250
    VISA INC (V) 230.000 SHARES 48,709 50,307
    XCEL ENERGY INC. CMN (XEL) 3,300.000 SHARES 240,577 220,011
    ZOETIS INC (ZTS) 115.000 SHARES 18,658 19,032

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    US Government Securities - End of Year Book Value:

    17,471,364
    US Government Securities - End of Year Fair Market Value:

    17,620,582
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2020 InvestmentsOtherSchedule2
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ASF VII CO-INV LTD. AT COST 0 8,899
    BLACKROCK CORE ALPHA BOND FUND - INST (BCRIX) 651,467.527 SHARES AT COST 7,260,687 7,029,335
    BLACKROCK STRATEGIC INCOME OPPORTUNITIES-INST (BSIIX) 764,100.483 SHARES AT COST 7,555,900 7,923,722
    BLACKSTONE COMMUNICATIONS PARTNER I L.P. AND AFFILIATES AT COST 2,587 15,826
    BLACKSTONE REAL ESTATE PARTNERS IX AND AFFILIATES AT COST 1,915,179 2,860,604
    BLACKSTONE REAL ESTATE PARTNERS V AND AFFILIATES AT COST 760,494 163,250
    BLACKSTONE REAL ESTATE PARTNERS VI AND AFFILIATES AT COST 59,532 210,822
    BLACKSTONE REAL ESTATE PARTNERS VIII AND AFFILIATES AT COST 3,755,672 5,453,532
    CARLYLE GROUP FUNDS AT COST 21,370,727 26,483,445
    CARLYLE PROPERTY INVESTORS, LP AT COST 4,001,450 5,870,941
    FIELDPOINT LLC AT COST 4,614,575 5,846,830
    GLOBAL CREDIT OPPORTUNITIES FUND, L.P. AT COST 3,853,018 3,740,027
    MATRIX CAPITAL MANAGEMENT FUND (OFFSHORE) LTD. AT COST 11,000,000 18,902,172
    OAKMARK INTERNATIONAL FUND - INST (OANIX) 199,550.917 SHARES AT COST 4,560,608 5,200,297
    SPECIAL CREDIT OPPORTUNITIES (OFFSHORE), L.P. AT COST 263,761 901,396
    T. ROWE PRICE CAPITAL APPRECIATION FUND I CLASS (TRAIX) 663,263.255 SHARES AT COST 15,716,809 22,643,808
    THE OBSIDIAN (OFFSHORE) FUND AT COST 8,000,000 12,431,119
    TIGER GLOBAL, LTD AT COST 9,500,000 24,293,395
    VANGUARD DIVIDEND GROWTH FUND (VDIGX) 231,264.198 SHARES AT COST 7,656,321 7,687,222
    VANGUARD INTER-TERM INVEST-GR ADM (VFIDX) 573,997.709 SHARES AT COST 5,691,673 6,009,756
    VANUARD U.S. GROWTH FUND ADMIRAL (VWUAX) 46,618.441 SHARES AT COST 7,709,010 7,923,736
    WEST STREET STRATEGIC SOLUTIONS OFFSHORE FEEDER FUND I, LLC AT COST 125,000 126,415

    TY 2020 LegalFeesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    GENERAL AND ADMINISTRATIVE LEGAL COUNSEL 7,123 0   7,123


    TY 2020 OtherAssetsSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    INVESTMENT REDEMPTION RECEIVABLES 2,257,130 202,686 202,686


    TY 2020 OtherExpensesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FILING FEES 1,500 0   1,500
    INFORMATION TECHNOLOGY 13,664 0   13,664
    INSURANCE 12,160 0   12,160
    MEMBERSHIP DUES 750 0   750
    OFFICE AND MISC EXPENSES 2,945 0   2,945
    PAYROLL PROCESSING FEES 4,400 0   4,400
    GRANTEE CONVENING EXPENSES 377 0   377
    OTHER INVESTMENT EXPENSES 1,615 1,615   0
    OTHER DEDUCTIONS THRU SCHEDULE K-1'S 944,593 423,379   0


    TY 2020 OtherIncomeSchedule2
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INCOME THRU SCHEDULE K-1S 1,936,338 36,055 1,936,338


    TY 2020 OtherLiabilitiesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Description Beginning of Year - Book Value End of Year - Book Value
    INVESTMENT COVERED CALL OPTIONS 0 71,647


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT AND ADVISORY 259,657 259,657   0
    FOUNDATION ADMINISTRATION 110,865 0   110,865


    TY 2020 TaxesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE UNRELATED BUSINESS INCOME TAX 1,863 0   0
    FOREIGN TAXES WITHHELD 8,290 8,290   0
    FOREIGN TAXES WITHHELD THRU SCHEDULE K-1'S 13,224 7,443   0