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 JAFFE FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)CO JAFFE FAMILY OFFICE PO BOX 535
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
VALLEY COTTAGE, NY10989
A Employer identification number

22-2827692
B Telephone number (see instructions)

(551) 777-6803
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$66,853,073J 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) 19,672,522
2 Check bullet.............
3 Interest on savings and temporary cash investments 80,528 80,528  
4 Dividends and interest from securities... 801,119 801,119  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -2,184,520
b Gross sales price for all assets on line 6a 17,196,677
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 265,327 180,879 0
12 Total. Add lines 1 through 11........ 18,634,976 1,062,526 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 19,840 0 0 19,840
b Accounting fees (attach schedule)....... Click to see attachment 58,750 23,500 0 29,375
c Other professional fees (attach schedule).... Click to see attachment 345,679 241,296 0 87,269
17 Interest............... 46,423 25,909 0 0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 124,780 13,561 0 0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 46,463 4,646 0 41,816
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 190,606 185,767 0 4,202
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 832,541 494,679 0 182,502
25 Contributions, gifts, grants paid....... 2,477,440 2,476,940
26 Total expenses and disbursements. Add lines 24 and 25 3,309,981 494,679 0 2,659,442
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 15,324,995
b Net investment income (if negative, enter -0-) 567,847
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............. 1,415,187 6,507,451 6,507,451
2 Savings and temporary cash investments.........      
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 12,303,885 Click to see attachment1,548,835 1,548,835
b Investments—corporate stock (attach schedule)....... 17,759,350 Click to see attachment18,433,129 34,013,662
c Investments—corporate bonds (attach schedule)....... 4,016,429 Click to see attachment10,188,221 10,270,071
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 3,898,249 Click to see attachment8,526,661 10,013,054
14 Land, buildings, and equipment: basis bullet4,500,000
Less: accumulated depreciation (attach schedule) bullet   4,500,000 4,500,000 4,500,000
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 43,893,100 49,704,297 66,853,073
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........ -5,982,621 -5,982,621
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 49,875,721 55,686,918
29 Total net assets or fund balances (see instructions)..... 43,893,100 49,704,297
30 Total liabilities and net assets/fund balances (see instructions). 43,893,100 49,704,297
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
43,893,100
2
Enter amount from Part I, line 27a .....................
2
15,324,995
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
59,218,095
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
9,513,798
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
49,704,297
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 CAPITAL GAIN DISTRIBUTIONS P    
b ST LOSS FROM SALE OF PUBLICLY TRADED SECURITIES P    
c ST LOSS FROM LP INVESTMENTS P    
d LT LOSS FROM SALE OF PUBLICLY TRADED SECURITIES P    
e LT GAIN FROM LP INVESTMENTS 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 6,260 0   6,260
b 5,333,499 0 5,453,043 -119,544
c       -771,432
d 11,757,937 0 13,156,722 -1,398,785
e 98,981 0   98,981
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       6,260
b       -119,544
c       -771,432
d       -1,398,785
e       98,981
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 -2,184,520
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 -890,976
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 7,893
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 7,893
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 7,893
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 67,172
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 67,172
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 59,279
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet59,279 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNY
    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 ofbulletREBECA GONTARYK Telephone no.bullet (551) 777-6803

    Located atbullet933 MACARTHUR BOULEVARDMAHWAHNJ ZIP+4bullet07430
    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
    Yes
     
    .........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
    RICHARD JAFFE VICE-PRESIDENT
    1.00     		0 0 0
    933 MACARTHUR BLVD
    MAHWAH,NJ07430
    ELLIOT JAFFE PRESIDENT
    1.00     		0 0 0
    933 MACARTHUR BLVD
    MAHWAH,NJ07430
    ELISE JAFFE VICE-PRESIDENT
    1.00     		0 0 0
    933 MACARTHUR BLVD
    MAHWAH,NJ07430
    DAVID JAFFE VICE-PRESIDENT
    1.00     		0 0 0
    933 MACARTHUR BLVD
    MAHWAH,NJ07430
    ROSLYN JAFFE VP, SECRETARY, TREASURER
    1.00     		0 0 0
    933 MACARTHUR BLVD
    MAHWAH,NJ07430
    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  
    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
    39,945,968
    b
    Average of monthly cash balances.......................
    1b
    2,892,526
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,558,442
    d
    Total (add lines 1a, b, and c).........................
    1d
    44,396,936
    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
    44,396,936
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    665,954
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    43,730,982
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,186,549
    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
    2,186,549
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    7,893
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    7,893
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,178,656
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,178,656
    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
    2,178,656
    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
    2,659,442
    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
    2,659,442
    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
    2,659,442
    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 2,178,656
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 2,076,770
    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$ 2,659,442
    a Applied to 2019, but not more than line 2a 2,076,770
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		Click to see attachment500
    d Applied to 2020 distributable amount..... 582,172
    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 5 500
    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 ..........     		1,596,484
    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) .......     		500
    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).)
    ELLIOT JAFFE
    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
    92ND STREET Y
    1395 LEXINGTON AVENUE
    NEW YORK,NY10128     		NONE PC SUPPORT CHARITABLE PURPOSE 5,000
    A NEW WAY OF LIFE REENTRY
    PO BOX 875288
    LOS ANGELES,CA90087     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    AAAAI AMERICAN ACADEMY
    555 EAST WELLS ST SUITE 1100
    MILWAUKEE,WI53202     		NONE PC SUPPORT CHARITABLE PURPOSE 65,000
    ACTBLUE
    366 SUMMER ST
    SOMERVILLE,MA02144     		NONE PC SUPPORT CHARITABLE PURPOSE 1,100
    ALL OUR KIN
    414A CHAPEL ST SUITE 100
    NEW HAVEN,CT06511     		NONE PC SUPPORT CHARITABLE PURPOSE 5,000
    AMERICAN MUSEUM OF NATURAL HISTORY
    79TH CENTRAL PARK W
    NEW YORK,NY10024     		NONE PC SUPPORT CHARITABLE PURPOSE 425,500
    AMNESTY INTERNATIONAL
    777 UNITED NATIONS PLAZA 601
    NEW YORK,NY10017     		NONE PC SUPPORT CHARITABLE PURPOSE 1,500
    ANYONE CORPORATION
    41 W 25TH ST 11TH FL
    NEW YORK,NY10010     		NONE PC SUPPORT CHARITABLE PURPOSE 10,000
    ARC
    960 EAST 3RD STREET
    LOS ANGELES,CA90013     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    ARCHITECTURAL LEAGUE
    594 BROADWAY SUITE 607
    NEW YORK,NY10012     		NONE PC SUPPORT CHARITABLE PURPOSE 146,950
    ASHOKA
    1700 N MOORE ST STE 2000
    ARLINGTON,VA22209     		NONE PC SUPPORT CHARITABLE PURPOSE 100,000
    BANG ON A CAN
    80 HANSON PL STE 301
    BROOKLYN,NY11217     		NONE PC SUPPORT CHARITABLE PURPOSE 16,000
    BARD GRADUATE CENTER
    18 WEST 86TH ST
    NEW YORK,NY10024     		NONE PC SUPPORT CHARITABLE PURPOSE 24,000
    BELLA MENTE AMERICA'S CUP
    333 SOUTH 7TH ST 3100
    MINNEAPOLIS,MN55402     		NONE PC SUPPORT CHARITABLE PURPOSE 500
    BETHEL AME CHURCH
    33 W 123RD ST
    NEW YORK,NY10027     		NONE PC SUPPORT CHARITABLE PURPOSE 2,500
    BIG BROTHERS BIG SISTERS
    2502 NORTH ROCKY POINT DRIVE SUITE
    550
    TAMPA,FL33607     		NONE PC SUPPORT CHARITABLE PURPOSE 4,000
    BLUE HILL OBSERVATORY SCIENCE CENTER
    1 OBSERVATORY SERVICE RD
    MILTON,MA02186     		NONE PC SUPPORT CHARITABLE PURPOSE 260
    BONDED LABOUR LIBERATION FRONT
    50 E FREEDOM WAY
    CINCINNATI,OH45202     		NONE PC SUPPORT CHARITABLE PURPOSE 1,500
    BREAKTIME
    170 PORTLAND ST
    BOSTON,MA02114     		NONE PC SUPPORT CHARITABLE PURPOSE 2,000
    BRIDGE FUND OF NEW YORK
    271 MADISON AVE 907
    NEW YORK,NY10016     		NONE PC SUPPORT CHARITABLE PURPOSE 10,000
    BUONICONTI FUND
    1095 NW 14TH TERRACE
    MIAMI BEACH,FL33136     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    CARNEGIE MUSEUM OF ART
    4400 FORBES AVE
    PITTSBURGH,PA15213     		NONE PC SUPPORT CHARITABLE PURPOSE 51,340
    CARVER CENTER
    400 WESTCHESTER AVE
    PORT CHESTER,NY10573     		NONE PC SUPPORT CHARITABLE PURPOSE 500
    CATHOLIC CHARITIES OF FAIRFIELD COUNTY
    238 JEWETT AVE
    BRIDGEPORT,CT06606     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    CLINIC OLE
    911 WASHINGTON ST
    CALISTOGA,CA94515     		NONE PC SUPPORT CHARITABLE PURPOSE 5,000
    COLUMBIA BABIES CARDIAC
    1790 BROADWAY
    NEW YORK,NY10019     		NONE PC SUPPORT CHARITABLE PURPOSE 2,000
    COLUMBIA UNIVERSITY GSAPP
    3022 BROADWAY
    NEW YORK,NY10027     		NONE PC SUPPORT CHARITABLE PURPOSE 20,000
    COLUMBIA UNIVERSITY
    622 W 113 ST MAIL CODE 4524
    NEW YORK,NY10025     		NONE PC SUPPORT CHARITABLE PURPOSE 20,000
    COOPER UNION
    30 COOPER SQUARE 8TH FLOOR
    NEW YORK,NY10003     		NONE PC SUPPORT CHARITABLE PURPOSE 20,000
    COVENANT HOUSE
    550 10TH AVENUE
    NEW YORK,NY10018     		NONE PC SUPPORT CHARITABLE PURPOSE 2,000
    CRITICAL RESISTANCE
    PO BOX 22780
    OAKLAND,CA22780     		NONE PC SUPPORT CHARITABLE PURPOSE 3,000
    DAVID PARSONS DANCE
    229 W 42ND ST 8
    NEW YORK,NY10036     		NONE PC SUPPORT CHARITABLE PURPOSE 515
    DOCTORS WITHOUT BORDERS
    333 SEVENTH AVE 2ND FLOOR
    NEW YORK,NY10001     		NONE PC SUPPORT CHARITABLE PURPOSE 5,000
    DOE FUND
    232 EAST 84TH STREET
    NEW YORK,NY10001     		NONE PC SUPPORT CHARITABLE PURPOSE 100
    DONORS CHOOSE
    134 W 37TH ST
    NEW YORK,NY10018     		NONE PC SUPPORT CHARITABLE PURPOSE 2,000
    EDIBLE SCHOOLYARD NYC
    55 WASHINGTON STREET 257
    BROOKLYN,NY11201     		NONE PC SUPPORT CHARITABLE PURPOSE 4,000
    EDIBLE SCHOOLYARD PROJECT
    1517 SHATTUCK AVENUE
    BERKELEY,CA94709     		NONE PC SUPPORT CHARITABLE PURPOSE 10,000
    EQUAL JUSTICE INITIATIVE
    122 COMMERCE ST
    MONTGOMERY,AL36104     		NONE PC SUPPORT CHARITABLE PURPOSE 3,090
    EVERYTOWN FOR GUN SAFETY
    PO BOX 3886
    NEW YORK,NY10017     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    EWHA WOMEN'S UNIVERSITY
    475 RIVERSIDE DR
    NEW YORK,NY10115     		NONE PC SUPPORT CHARITABLE PURPOSE 5,000
    FAMILY RE-ENTRY
    9 MOTT AVE STE 104
    NORWALK,CT06580     		NONE PC SUPPORT CHARITABLE PURPOSE 250
    FARE
    7923 JONES BRANCH DR SUITE 1100
    MCLEAN,VA22099     		NONE PC SUPPORT CHARITABLE PURPOSE 200,000
    FIGURE SKATING HARLEM
    361 W 125TH ST FL 4
    NEW YORK,NY10027     		NONE PC SUPPORT CHARITABLE PURPOSE 5,000
    FOOD ALLERGY RESEARCH
    7901 JONES BRANCH DR 249
    MCLEAN,VA22102     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    FOOD BANK FOR NEW YORK CITY
    39 BROADWAY 10TH FL
    NEW YORK,NY10006     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    FOOD FOR PRESTON
    PO BOX 1175
    KINGWOOD,WV26537     		NONE PC SUPPORT CHARITABLE PURPOSE 500
    FOOD FOR THE NEEDY
    C/O ERNEST BOGEN 5055 COLLINS AVE
    MIAMI BEACH,FL33140     		NONE PC SUPPORT CHARITABLE PURPOSE 5,000
    FRESH AIR FUND
    633 THIRD AVENUE
    NEW YORK,NY10017     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    GIVE DIRECTLY
    PO BOX 3221
    NEW YORK,NY10008     		NONE PC SUPPORT CHARITABLE PURPOSE 1,500
    GREATER BOSTON FOOD BANK
    770 S BAY AVE
    BOSTON,MA02118     		NONE PC SUPPORT CHARITABLE PURPOSE 500
    GREY ROOM
    PO BOX 250834
    NEW YORK,NY10025     		NONE PC SUPPORT CHARITABLE PURPOSE 6,000
    HARVARD GRADUATE SCHOOL OF DESIGN
    48 QUINCY ST
    CAMBRIDGE,MA02138     		NONE PC SUPPORT CHARITABLE PURPOSE 10,000
    HARVARD UNIVERSITY
    14 STORY ST 100
    CAMBRIDGE,MA02138     		NONE PC SUPPORT CHARITABLE PURPOSE 25,000
    HOFSTRA UNIVERSITY SPEECH LANGUAGE CLINIC
    101 HOFSTRA UNIVERSITY
    HEAMPSTEAD,NY11549     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    ICAHN SCHOOL OF MEDICINE MT SINAI
    GUSTAVE L LEVY PLACE BOX 1049
    NEW YORK,NY10029     		NONE PC SUPPORT CHARITABLE PURPOSE 101,000
    INTERNATIONAL RESCUE COMMITTEE
    122 E 42ND ST
    NEW YORK,NY10168     		NONE PC SUPPORT CHARITABLE PURPOSE 1,030
    JAZZ AT LINCOLN CENTER
    10 COLUMBUS CIR
    NEW YORK,NY10023     		NONE PC SUPPORT CHARITABLE PURPOSE 100,000
    JULLIARD SCHOOL OF MUSIC
    60 LINCOLN CENTER PLAZA
    NEW YORK,NY10023     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    LETS GET READY
    50 BROADWAY
    NEW YORK,NY10004     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    LINCOLN CENTER FOR THE ARTS
    69 LINCOLN CENTER PLAZA
    NEW YORK,NY10022     		NONE PC SUPPORT CHARITABLE PURPOSE 300,000
    LOWER EAST SIDE GIRLS CLUB
    402 EAST 8TH STREET
    NEW YORK,NY10009     		NONE PC SUPPORT CHARITABLE PURPOSE 5,000
    MAYFLOWER MEDICAL OUTREACH
    PO BOX 75449
    OKLAHOMA CITY,OK73147     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    MISHKAN ISRAEL DAY CAMP
    785 RIDGE RD
    HAMDEN,CT06517     		NONE PC SUPPORT CHARITABLE PURPOSE 700
    MUSEUM OF MODERN ART
    11 WEST 53 STREET
    NEW YORK,NY10019     		NONE PC SUPPORT CHARITABLE PURPOSE 50,000
    NEW YORK YACHT CLUB FOUNDATION
    37 WEST 44TH STREET
    NEW YORK,NY10036     		NONE PC SUPPORT CHARITABLE PURPOSE 175
    NO KID HUNGRY
    1030 15TH ST NW SUITE 1100 W
    WASHINGTON,DC20005     		NONE PC SUPPORT CHARITABLE PURPOSE 2,000
    OXFAM
    266 CAUSEWAY STREET 5TH FL
    BOSTON,MA02114     		NONE PC SUPPORT CHARITABLE PURPOSE 5,130
    PAN MASS CHALLENGE
    77 4TH AVE
    NEEDHAM,MA02494     		NONE PC SUPPORT CHARITABLE PURPOSE 1,025
    PARTNERS IN HEALTH
    800 BOYLSTON STREET SUITE 1400
    BOSTON,MA02199     		NONE PC SUPPORT CHARITABLE PURPOSE 10,000
    PAUL TAYLOR DANCE FOUNDATION
    551 GRAND STREET
    NEW YORK,NY10002     		NONE PC SUPPORT CHARITABLE PURPOSE 55,000
    PENN DESIGN
    210 S 34TH ST
    PHILADELPHIA,PA19104     		NONE PC SUPPORT CHARITABLE PURPOSE 875
    READ AHEAD
    50 BROAD ST 1720
    NEW YORK,NY10004     		NONE PC SUPPORT CHARITABLE PURPOSE 500
    RISE JUSTICE LABS
    PO BOX 90048
    WASHINGTON,DC20090     		NONE PC SUPPORT CHARITABLE PURPOSE 5,000
    RIVERDALE MENTAL HEALTH ASSOC
    72 FORT ADAMS DR
    NEWPORT,RI02840     		NONE PC SUPPORT CHARITABLE PURPOSE 250
    SAIL NEWPORT
    60 FORT ADAMS DRIVE
    NEWPORT,RI02840     		NONE PC SUPPORT CHARITABLE PURPOSE 250
    SAILFISH POINT FOUNDATION
    2201 SE SALFISH POINT BLVD
    STUART,FL34996     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    SALVATION ARMY
    440 WEST NYACK ROAD
    WEST NYACK,NY10994     		NONE PC SUPPORT CHARITABLE PURPOSE 250
    SKYSCRAPER MUSEUM
    39 BATTERY PL
    NEW YORK,NY10280     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    ST JAMES INFIRMARY CLINIC
    730 POLK STREET 4TH FL
    SAN FRANCISCO,CA94109     		NONE PC SUPPORT CHARITABLE PURPOSE 2,060
    STAMFORD HOSPITAL FOUNDATION
    1351 WASHINGTON BLVD STE 202
    STAMFORD,CT06902     		NONE PC SUPPORT CHARITABLE PURPOSE 20,000
    STANFORD GRADUATE SCHOOL OF BUSINESS
    655 KNIGHT WAY
    STANFORD,CA94305     		NONE PC SUPPORT CHARITABLE PURPOSE 10,000
    STEEP ROCK ASSOCIATION
    PO BOX 279
    WASHINGTON DEPOT,CT06794     		NONE PC SUPPORT CHARITABLE PURPOSE 200
    STEM TEACHERS NYC
    245 WEST 107TH ST 10B
    NEW YORK,NY10025     		NONE PC SUPPORT CHARITABLE PURPOSE 10,000
    STEVEN MYRON HOLL FOUNDATION
    450 WEST 31ST STREET 11TH FLOOR
    NEW YORK,NY10001     		NONE PF SUPPORT CHARITABLE PURPOSE 30,000
    STOREFRONT FOR ART AND ARCHITECTURE
    97 KENMARE STREET
    NEW YORK,NY10012     		NONE PC SUPPORT CHARITABLE PURPOSE 10,000
    SWEET WATER FOUNDATION
    3455 HILLCREST ST
    REDDING,CA96001     		NONE PF SUPPORT CHARITABLE PURPOSE 500
    TEACHERS COLLEGE
    525 W 120TH STREET
    NEW YORK,NY10027     		NONE PC SUPPORT CHARITABLE PURPOSE 50,000
    THE NATURE CONSERVANCY
    4245 NORTH FAIRFAX DRIVE SUITE 100
    ARLINGTON,VA222031606     		NONE PC SUPPORT CHARITABLE PURPOSE 143,000
    THIRTEENWNET
    825 EIGHT AVENUE
    NEW YORK,NY10019     		NONE PC SUPPORT CHARITABLE PURPOSE 32,500
    TUFTS UNIVERSITY
    419 BOSTON AVE
    MEDFORD,MA02155     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    UNICEF
    125 MAIDEN LANE
    NEW YORK,NY10038     		NONE PC SUPPORT CHARITABLE PURPOSE 500
    UNITED JEWISH FEDERATION
    130 EAST 59TH STREET
    NEW YORK,NY10022     		NONE PC SUPPORT CHARITABLE PURPOSE 25,000
    UNIVERSITY OF PENNSYLVANIA
    2929 WALNUT ST SUITE 300
    PHILADELPHIA,PA19104     		NONE PC SUPPORT CHARITABLE PURPOSE 116,870
    WASHINGTON COMMUNITY FUND
    PO BOX 1231
    WASHINGTON,DC06793     		NONE PC SUPPORT CHARITABLE PURPOSE 250
    WE CARE SOLAR
    2150 ALLSTON WAY SUITE 340
    BERKELEY,CA94704     		NONE PC SUPPORT CHARITABLE PURPOSE 2,000
    WESTCHESTER LAND TRUST
    11 BABBITT ROAD BEDFORD HILLS
    BEDFORD HILLS,NY10507     		NONE PC SUPPORT CHARITABLE PURPOSE 1,020
    WGBH
    ONE GUEST STREET
    BOSTON,MA02135     		NONE PC SUPPORT CHARITABLE PURPOSE 116,250
    WSHU RADIO
    5151 PARK AVENUE
    FAIRFIELD,CT06825     		NONE PC SUPPORT CHARITABLE PURPOSE 1,000
    YALE UNIVERSITY SCHOOL OF ARCHITECTURE
    180 YORK STREET
    NEW HAVEN,CT06511     		NONE PC SUPPORT CHARITABLE PURPOSE 25,000
    Total .................................bullet 3a 2,477,440
    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 80,528  
    4 Dividends and interest from securities....     14 801,119  
    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 ............     		523000 13,804 18 -2,198,324  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aPFIC INCOME     		    01 262,264 0
    bNONDIVEND DISTRIBUTIONS     01 77,684 0
    cINCOME (LOSS) FROM PASS THROUGH ENTITIES   -7,040 01 -67,581 0
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 6,764 -1,044,310 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    -1,037,546
    (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 JAFFE FAMILY FOUNDATION
     
    Employer identification number

    22-2827692
    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 JAFFE FAMILY FOUNDATION
          		Employer identification number
    22-2827692
    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
    ELLIOT & ROSLYN JAFFE
     
    933 MACARTHUR BLVD
     
    MAHWAH, NJ07430

    		$ 19,672,522


    (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 JAFFE FAMILY FOUNDATION
          		Employer identification number

    22-2827692
    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
    		 SECURITIES $ 19,613,535 2020-12-31
    (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 JAFFE FAMILY FOUNDATION
          		Employer identification number

    22-2827692
    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 JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BOOKKEEPING/TAX PREPARATION 58,750 23,500 0 29,375

    TY 2020 DistributionFromCorpusElection
    Name:
    THE JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    Election:
    ELECTION UNDER REGULATION 53.4942(A)-3(E)(2) QUALIFYING DISTRIBUTIONS TREATED AS DISTRIBUTIONS OUT OF CORPUS.THE JAFFE FAMILY FOUNDATION, ELECTS PURSUANT TO REGULATION 53.4942(A)-3(E)(2) TO TREAT DISTRIBUTIONS OUT OF CORPUS IN ORDER TO SATISFY THE DISTRIBUTION REQUIREMENTS OF IRC 4942(G)(3) FOR THE CURRENT TAX YEAR ENDED DECEMBER 31, 2020.THE FOUNDATION MANAGER DECLARES BELOW THAT THE FOUNDATION IS MAKING THIS ELECTION UNDER REGULATION 53.4942(A)-3(E)(2) AND THE CURRENT YEAR DISTRIUBTION WAS TREATED UNDER REGULATION 53.4942(A)-3(E)(2) AS A DISTRIBUTION OUT OF CORPUS AS FOLLOWS:DISTRIBUTIONS AMOUNTCURRENT YEAR DISTRIBUTION FROM CORPUS 500

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

    TY 2020 ExpenditureResponsibilityStmt
    Name:
    THE JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    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
    STEVEN MYRON HOLL FOUNDATION
          		450 WEST 31ST STREET 11TH FLOOR
    NEW YORK,NY10001     		2020-12-29 30,000 SUPPORT CHARITABLE PURPOSE 10,000 NO ANNUALLY 2021-11-15 $10,000 OF THE GRANT WAS EXPENDED FOR CHARITABLE PURPOSES. THE REMAINING $20,000 WILL BE SPENT IN 2021 FOR CHARITABLE PURPOSES.
    SWEET WATER FOUNDATION
          		3455 HILLCREST ST
    REDDING,CA96001     		2020-12-21 500 SUPPORT CHARITABLE PURPOSE 500 NO ANNUALLY 2021-11-15 GRANT WAS FULLY EXPENDED FOR CHARITABLE PURPOSES.

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    THE JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    Name of Bond End of Year Book Value End of Year Fair Market Value
    CORPORATE BONDS 10,188,221 10,270,071

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    THE JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    Name of Stock End of Year Book Value End of Year Fair Market Value
    EQUITY SECURITIES 18,433,129 34,013,662

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    THE JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    US Government Securities - End of Year Book Value:

    1,548,835
    US Government Securities - End of Year Fair Market Value:

    1,548,835
    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 JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ALTERNATIVE INVESTMENTS FMV 6,709,841 8,196,231
    PARTNERSHIP INVESTMENTS FMV 1,816,820 1,816,823

    TY 2020 LegalFeesSchedule
    Name:
    THE JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOUNDATION OPERATION QUESTIONS 19,840 0 0 19,840


    TY 2020 OtherDecreasesSchedule
    Name:
    THE JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    Description Amount
    ADJUSTMENTS TO BOOK VALUE 9,513,798


    TY 2020 OtherExpensesSchedule
    Name:
    THE JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER LP EXPENSES 186,404 185,767 0 0
    INSURANCE EXPENSE 1,948 0 0 1,948
    NYS FILING FEE 1,500 0 0 1,500
    BANK CHARGES 520 0 0 520
    OFFICE EXPENSES 234 0 0 234


    TY 2020 OtherIncomeSchedule2
    Name:
    THE JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PFIC INCOME 262,264 262,264 0
    NONDIVEND DISTRIBUTIONS 77,684 0 0
    INCOME (LOSS) FROM PASS THROUGH ENTITIES -74,621 -81,385 0


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    THE JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CONSULTING AND BOOKKEEPING FEE 174,537 87,269 0 87,269
    INVESTMENT ADVISORY FEE 171,142 154,027 0 0


    TY 2020 TaxesSchedule
    Name:
    THE JAFFE FAMILY FOUNDATION
    EIN:
    22-2827692
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL TAXES PAID 108,152 0 0 0
    FOREIGN TAXES PAID 16,628 13,561 0 0