TY 2020 Form 990PF

- TIN:

Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go 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 Preservation Fund

% Foundation Source

Number and street (or P.O. box number if mail is not delivered to street address)501 Silverside Rd
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377

A Employer identification number

13-3690790

B Telephone number (see instructions)

(800) 839-1754

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$4,440,673J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)	50
2	Check .............
3	Interest on savings and temporary cash investments	96		96
4	Dividends and interest from securities...	50,994		50,994
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		4,045
b	Gross sales price for all assets on line 6a 703,147
7	Capital gain net income (from Part IV, line 2)...			4,373
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).......		33,538	27,923	631
12	Total. Add lines 1 through 11........	88,723		83,386	631
13	Compensation of officers, directors, trustees, etc.	150,000				150,000
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......	11,069				11,069
16a	Legal fees (attach schedule).........		250	0	0	250
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		36,054	22,066		13,988
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		1,240	273
19	Depreciation (attach schedule) and depletion...		6,517		0
20	Occupancy..............
21	Travel, conferences, and meetings.......	632				632
22	Printing and publications..........	226				226
23	Other expenses (attach schedule).......		69,456	22,017		47,439
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	275,444		44,356	0	223,604
25	Contributions, gifts, grants paid.......	15,000				15,000
26	Total expenses and disbursements. Add lines 24 and 25	290,444		44,356	0	238,604
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-201,721
b	Net investment income (if negative, enter -0-)			39,030
c	Adjusted net income (if negative, enter -0-)...				631

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2020)

Form 990-PF (2020)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	54,659	48,248	48,248
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	106,452
	b	Investments—corporate stock (attach schedule).......	2,141,731	2,189,584	2,620,842
	c	Investments—corporate bonds (attach schedule).......	318,837	296,708	320,434
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	288,667	170,602	171,149
	14	Land, buildings, and equipment: basis 196,650
		Less: accumulated depreciation (attach schedule) 111,128	92,039	85,522	1,250,000
	15	Other assets (describe )	20,000	30,000	30,000
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	3,022,385	2,820,664	4,440,673
	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 )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		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
		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	3,022,385	2,820,664
	29	Total net assets or fund balances (see instructions).....	3,022,385	2,820,664
	30	Total liabilities and net assets/fund balances (see instructions).	3,022,385	2,820,664

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

3,022,385

Enter amount from Part I, line 27a .....................

-201,721

Other increases not included in line 2 (itemize) bullet

Add lines 1, 2, and 3 ..........................

2,820,664

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

2,820,664

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	Passthrough K1 Capital Gain/(Loss)
c	AIP ABSOLUTE RETURN FUND	P	2007-09-01	2020-01-30
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	568,147	571,575	-3,428
b			6,956
c	135,000	134,155	845
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			-3,428
b
c			845
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	4,373
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 ...................		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

Reserved...........................

Reserved,..........................

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	543
c	All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2...........................	3	543
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	543
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	1,000
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	1,000
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	457
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax457	Refunded	11

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

Yes

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Yes

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2020)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

Foundation Source Telephone no. bullet

(800) 839-1754

Located at bullet

501 Silverside Road Suite 123WilmingtonDE ZIP+4 bullet

198091377

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

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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?...............YesNo

(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.).......YesNo

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 ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

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?.............

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)):

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?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

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.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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?

Form 990-PF (2020)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

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 ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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? .................YesNo

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-)
Victor Haydel	Dir 1.0	0
501 Silverside Rd Wilmington,DE198091377	Dir 1.0	0
Arpad Krizsan	Dir 1.0	0
501 Silverside Rd Wilmington,DE198091377	Dir 1.0	0
Marcus Charles Moore	Dir 1.0	0
501 Silverside Rd Wilmington,DE198091377	Dir 1.0	0
Ponchitta Pierce	Dir, Pres 40.0	150,000
501 Silverside Rd Wilmington,DE198091377	Dir, Pres 40.0	150,000
David H Slavit	Dir, Treas, Executive VP 1.0	0
501 Silverside Rd Wilmington,DE198091377	Dir, Treas, Executive VP 1.0	0
Rosalie Valentino	Dir 1.0	0
501 Silverside Rd Wilmington,DE198091377	Dir 1.0	0
Andrew Young	Dir, Sec, chair 1.0	0
501 Silverside Rd Wilmington,DE198091377	Dir, Sec, chair 1.0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances










Total number of other employees paid over $50,000...................

Form 990-PF (2020)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1	SERVEHAITI - LOW-INTEREST LOAN TO A PUBLIC CHARITY FOR GENERAL CHARITABLE PURPOSES.	10,000
2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

10,000

Form 990-PF (2020)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

2,675,927

Average of monthly cash balances.......................

150,596

Fair market value of all other assets (see instructions)................

171,149

Total (add lines 1a, b, and c).........................

2,997,672

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

2,997,672

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

44,965

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

2,952,707

Minimum investment return. Enter 5% of line 5..................

147,635

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.)

Minimum investment return from Part X, line 6....................

147,635

Tax on investment income for 2020 from Part VI, line 5......

543

Income tax for 2020. (This does not include the tax from Part VI.)...

600

Add lines 2a and 2b............................

1,143

Distributable amount before adjustments. Subtract line 2c from line 1............

146,492

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

146,492

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

146,492

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

238,604

Program-related investments—total from Part IX-B..................

10,000

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

248,604

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.................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

248,604

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)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(d) 2020
1 Distributable amount for 2020 from Part XI, line 7			146,492
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......
b Total for prior years:2018, 2017, 2016
3 Excess distributions carryover, if any, to 2020:
a From 2015......	192,874
b From 2016......	96,769
c From 2017......	61,868
d From 2018......	69,596
e From 2019......	81,147
fTotal of lines 3a through e........		502,254
4Qualifying distributions for 2020 from Part
XII, line 4: $ 248,604
a Applied to 2019, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2020 distributable amount.....			146,492
e Remaining amount distributed out of corpus		102,112
5 Excess distributions carryover applied to 2020.
(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		604,366
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2020. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2021 ..........			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) .......
8 Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) ...		192,874
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		411,492
10 Analysis of line 9:
a Excess from 2016....	96,769
b Excess from 2017....	61,868
c Excess from 2018....	69,596
d Excess from 2019....	81,147
e Excess from 2020....	102,112

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 section4942(j)(3) or4942(j)(5)

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	(e) Total

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).)

NONE

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

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)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK 622 W 113TH ST MC4524 NEW YORK,NY10025	N/A	PC	Department of Political Science	1,000
COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK 622 W 113TH ST MC4524 NEW YORK,NY10025	N/A	PC	Scholarship Fund of the School of International and public affairs	1,000
DC CENTRAL KITCHEN INC 425 2ND ST NW WASHINGTON,DC20001	N/A	PC	General & Unrestricted	1,000
IN OUR BACKYARDS INC 540 PRESIDENT ST 3RD FLOOR BROOKLYN,NY11215	N/A	PC	Crown Heights Mutual Aid fund	1,000
SERVEHAITI INC 1190 N HIGHLAND AVE NE ATLANTA,GA31106	N/A	PC	General & Unrestricted	10,000
SOLUTIONS JOURNALISM NETWORK INC 79 MADISON AVE STE 16056 NEW YORK,NY10016	N/A	PC	General & Unrestricted	1,000
Total ................................. 3a				15,000

bApproved for future payment

Total ................................. 3b

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	(e) Related or exempt function income (See instructions.)
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	96
4 Dividends and interest from securities....			14	50,994
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	-328	18	4,373
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aK-1 Inc/Loss	525990	4,162	14	27,317
bFederal Tax Refund			01	1,428
cINTEREST INCOME FROM PRI					631
d
e
12 Subtotal. Add columns (b), (d), and (e)..		3,834		84,208	631

13Total. Add line 12, columns (b), (d), and (e)..................

88,673

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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.)
11	interest income from program related investment, techsoup global - low-interest loan to a public charity for general operating purposes.

Form 990-PF (2020)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

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

TY 2020 DepreciationSchedule

Name:

The Preservation Fund

EIN:

13-3690790

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Adjusted Net Income
BLDG - 1 SYLVAN	1994-12-03	76,472	72,608	SL	27	2,781	0
IMPROV - 1 SYLVAN	1997-01-01	17,200	13,755	SL	27	625	0
SECURITY ALARM	2015-12-22	5,500	3,144	SL	7	786	0
LAND - 1 SYLVAN	1994-12-03	33,528		L			0
IMPROV - 1 SYLVAN	2013-06-30	61,050	14,430	SL	27	2,220
CHIMNEY	2013-07-18	2,900	674	SL	27	105

- TIN:

TY 2020 GeneralExplanationAttachment

Name:

The Preservation Fund

EIN:

13-3690790

Identifier	Return Reference	Explanation
Part I line 6a	PART I LINE 6A (990-PF)	RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF ASSETS NOT INCLUDED IN PART IV TOTAL INCLUDED IN PART IV: (DETAILS BELOW) NET GAIN/(LOSS): $4,373 TOTAL NOT INCLUDED IN PART IV: PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) -UBI NET GAIN/(LOSS): $(328) TOTAL PART I, LINE 6A: $4,045 DETAILS OF ASSETS INCLUDED IN PART IV: PUBLICLY-TRAIDED SECURITIES GROSS SALES PRICE: $568,147 BOOK BASIS: $571,575 NET GAIN/(LOSS): $(3,428) PASSTHROUGH K-1 CAPITAL GAIN/(LOSS)-NON UBI NET GAIN/(LOSS): $6,956 SALES OF OTHER ITEMIZED ASSETS GROSS SALES PRICE: $135,000 BOOK BASIS: $134,155 NET GAIN/(LOSS): $845

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

The Preservation Fund

EIN:

13-3690790

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC NOTE CALL MAKE WHOL	4,882	5,539
AFFILIATED MANAGERS GROUP - 4.	12,274	13,232
ALLSTATE CORP NOTE - 1.450% -	10,945	10,944
AMAZON - 3.800% - 12/05/2024	10,020	11,241
AMERICAN EXPRESS CO NOTE - 3.0	11,505	13,095
AT&T - 4.250% - 03/01/2027	12,810	14,025
BANK NEW YORK MELLON - 2.200%	8,047	8,380
BERKSHIRE HATHAWAY NOTE - 3.12	10,003	11,174
BOSTON PPTYS LTD PARTNERSHIP N	9,853	10,903
BURLINGTON NORTH - 3.850% - 09	9,794	10,835
CAPITAL ONE - 3.200% - 02/05/2	11,970	13,094
COSTCO - 1.375% - 06/20/2027	10,274	10,299
CVS HEALTH CORP - 2.625% - 08/	10,022	10,716
DEERE JOHN CAP CORP S BE MTN -	10,203	10,244
GENERAL MLS INC - 4.200% - 04/	9,565	9,592
GOLDMAN SACHS GROUP INC NOTE -	11,705	10,564
HOME DEPOT INC - 2.700% - 04/1	10,025	11,145
HUNTINGTON BANCSHARES INC - 2.	9,641	10,725
KIMBERLY CLARK CORP - 3.100% -	8,644	9,213
MICROSOFT CORP - 2.400% - 08/0	5,097	5,453
ORACLE CORP NOTE CALL - 1.900%	7,724	8,081
PAYPAL HLDGS INC - 2.850% - 10	9,943	11,108
PHILLIPS 66 NOTE - 3.900% - 03	9,567	11,515
PNC FINL SVCS - 3.500% - 01/23	10,007	10,894
SALESFORCE.COM - 3.250% - 04/1	11,919	12,760
SIMON PPTY GROUP LP - 2.000% -	10,005	10,451
SYNCHRONY FINANCIAL - 4.500% -	10,298	11,250
VALERO ENERGY PARTNERS LP - 4.	9,928	11,488
VERIZON COMMUNICATIONS INC - 5	10,211	11,255
VISA INC NOTE - 3.150% - 12/14	9,827	11,219

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

The Preservation Fund

EIN:

13-3690790

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABIOMED	3,466	4,863
ACTIVISION BLIZZARD INC	3,081	5,478
ADECCO S.A. UNSP/ADR	4,342	4,691
ADOBE SYSTEMS, INC	1,842	9,002
AIA GROUP LTD ADR	4,353	5,503
AIRBUS GROUP	4,792	4,890
ALIBABA GROUP HOLDING LTD	5,187	5,586
ALIGN TECHNOLOGY, INC	3,148	7,481
ALPHABET INC CL C	6,903	12,263
AMADEUS IT HLDS SA	2,123	2,254
AMAZON COM	2,797	9,771
ANGLO AM PLC ADR	5,372	7,140
APPLIED MATERIALS INC	2,711	5,178
ARCHER DANIELS MDLND	17	75,111
ASML HOLDING NV NY REG SHS	1,885	4,877
AXALTA COATING SYSTEMS LTD	11,408	10,706
BAE SYSTEMS PLC	5,031	4,018
BERKLEY W R CP	6,595	10,162
BERKSHIRE HATHAWAY INC. CLASS	7,947	11,594
BIOMARIN PHARMACEUTICAL INC	2,188	2,192
BLACK KNIGHT, INC	8,484	15,550
BLACKROCK FUNDS LOW DURATION P	240,861	246,619
BLACKROCK HIGH YIELD BOND PORT	103,156	112,074
BOOKING HOLDINGS INC	14,439	22,273
BRAMBLES LTD UNSP AD	3,861	4,209
BRISTOL-MYERS SQUIBB CO	4,962	5,645
BROOKFIELD ASSET MANAGEMENT CL	8,021	11,762
CALRSBERG AS SP ADR REP B	3,828	5,462
CAP GEMINI SA UNSP/ADR	3,304	4,686
CERNER CORPORATION	8,478	12,478
CHARLES RIV LABORATORIES INTL	5,833	13,992
COMPAGNIE DE SAINT G	4,354	4,771
COSTAR GROUP, INC	2,468	3,697
COSTCO WHOLESALE CORPORATION	5,873	6,782
DBS GROUP HLDGS SPON ADR	5,453	5,171
DELAWARE HEALTHCARE FUND CLASS	86,268	117,317
DELAWARE SMALL CAP VALUE FUND	39,776	41,864
DEUTSCHE BOERSE ADR	3,757	4,445
DEUTSCHE POST AG	5,558	6,679
DIAGEO PLC ADS	8,405	11,117
DNB NOR ASA SPONSOR ADR	4,906	5,099
DUN & BRADSTREET CORP	10,833	10,035
EDWARDS LIFESCIENCES	1,609	4,653
ENEL SOCIETA PER AZI	3,274	4,730
ESTEE LAUDER COMPANIES INC	2,955	3,194
EXACT SCIENCES CORPORATION	3,307	6,095
FACEBOOK INC	5,017	10,380
FANUC LIMITED UNSPONSORED	3,476	4,345
FASTENAL COMPANY	5,036	10,645
GROUPE DANONE ADS	4,827	3,956
GUGGENHEIM LIMITED DURATION FU	296,790	307,854
HITACHI LTD	3,858	4,526
IDEXX CORP	2,684	6,998
IHS MARKIT LTD	7,383	10,510
ILLINOIS TOOL WORKS	6,569	12,437
ILLUMINA INC COM	2,803	5,550
INDUSTRIA DE DISENO	6,494	6,881
INTUIT	4,494	6,078
ISHARESLEHMAN 7-10YR	190,615	215,910
JULIUS BAER GROUP LTD	4,446	4,543
KBC GROUP SA UNSP ADR	3,682	4,047
KOMATSU LTD	4,454	4,650
KONINKLIJKE AHOLD DELHAIZE NV	3,075	3,980
KONINKLIJKE PHILIPS ELECTRONIC	2,145	2,329
L'AIR LIQUIDE ADR OTC	3,802	4,111
LAZARD EMERGING MARKETS EQUITY	220,912	212,498
LOWES COMPANIES INC	8,679	17,175
MARKEL CORP	9,238	10,333
MASTERCARD INC	3,518	10,351
MATCH GROUP INC	2,996	3,629
MATTHEWS ASIAN GROWTH & INC FU	107,481	107,629
MERCK KGAA SPON ADR EACH REPR	5,479	6,977
MORGAN STANLEY FLEXIBLE INCOME	79,920	85,655
MSCI INC	2,394	6,698
MSIF FRONTIER EMERGING MKTS	45,288	45,481
MSIF SELECT GLOBAL INFRASTRUCT	60,104	61,134
MURATA MFG INC UNSP/ADR	2,634	4,555
NEW ORIENTAL ED & TECHNOLOGY G	3,618	8,176
NIKE INC-CL B	3,966	9,054
NORDEA BANK ABP	5,989	4,504
NVIDIA CORP	2,468	7,833
NXP SEMICONDUCTORS	8,630	14,629
ORACLE CORP	10,282	13,650
PAYPAL HOLDINGS, INC	3,276	9,602
PEPSICO INC	8,901	13,050
PERNOD-RECARD SA	5,250	6,865
PROSUS NV ADR	4,403	6,355
RAYTHEON TECHNOLOGIES CORP	8,962	10,440
RECKITT BENCKISER GROUP	3,530	3,932
ROCHE HOLDING LTD ADR	2,686	4,033
ROKU INC	1,035	2,324
RWE AKTIENGESELLSCHAF	2,910	4,499
SALESFORCE.COM	2,351	6,898
SANDS CHINA LTD UNSP ADR	7,127	6,501
SANOFI-AVENTIS SPONSORED ADR	4,145	4,033
SAP AKTIENGESELL ADS	4,155	5,085
SAREPTA THERAPEUTICS INC	2,748	3,751
SERVICE NOW	1,315	9,357
SHERWIN-WILLIAMS CO	2,971	4,409
SIEMENS AG	6,691	6,964
SMITH & NEPHEW PLC ADR	3,798	4,428
SPDR GOLD SHARES	74,940	79,370
SPLUNK INC	2,563	5,776
SQUARE INC	1,725	5,441
STARBUCKS CORP COM	8,220	14,228
STRYKER CORPORATION	4,875	10,047
SUNAMERICA EQUITY FDS INTERNAT	102,508	106,950
TAIWAN SEMICONDUCTOR MFG CO LT	2,486	5,016
TEMENOS GROUP AG	5,047	4,673
THE HARTFORD SMALLCAP GROWTH F	49,090	63,548
THERMO FISHER SCIENTIFIC INC	4,241	11,645
TJX COMPANIES INC	8,603	13,999
TRANE TECHNOLOGIES PLC	2,717	4,355
UBER	2,048	3,723
UCB UNSP ADR	4,524	3,924
UNITEDHEALTH GROUP INC	3,555	6,312
VISA INC	3,861	7,874
YUM CHINA HOLDINGS INC	3,851	4,110
ZURICH INS GROU ADR	4,019	4,475

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

The Preservation Fund

EIN:

13-3690790

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
AIP ABSOLUTE RETURN FUND		170,602	171,149

- TIN:

TY 2020 LandEtcSchedule2

Name:

The Preservation Fund

EIN:

13-3690790

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
BLDG - 1 SYLVAN	76,472	75,389	1,083	919,000
IMPROV - 1 SYLVAN	17,200	14,380	2,820	8,826
SECURITY ALARM	5,500	3,930	1,570	1,570
LAND - 1 SYLVAN	33,528		33,528	250,000
IMPROV - 1 SYLVAN	61,050	16,650	44,400	67,331
CHIMNEY	2,900	779	2,121	3,273

- TIN:

TY 2020 LegalFeesSchedule

Name:

The Preservation Fund

EIN:

13-3690790

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Document Review/Drafting	250			250

- TIN:

TY 2020 OtherAssetsSchedule

Name:

The Preservation Fund

EIN:

13-3690790

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
PRI - SERVEHAITI - 1% - 07/13/		10,000	10,000
PRI - TECHSOUP - 3.5% - 06/30/		20,000	20,000

- TIN:

TY 2020 OtherExpensesSchedule

Name:

The Preservation Fund

EIN:

13-3690790

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Administrative Fees	29,031		29,031
SECURITY MONITORING FEES	443		443
Equipment Maintenance	440		440
Indemnification Insurance	1,976		1,976
K-1 Exp AIP ABSOLUTE RETURN FU	22,017	22,017
INSURANCE EXPENSE	3,000		3,000
Office & Supplies	1,632		1,632
COMPUTERS/ELECTRONIC DEVICES	134		134
Payroll Processing Fees	751		751
Postage/Delivery Service	101		101
Property insurance	9,681		9,681
State or Local Filing Fees	250		250

- TIN:

TY 2020 OtherIncomeSchedule2

Name:

The Preservation Fund

EIN:

13-3690790

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
K-1 Inc/Loss AIP ABSOLUTE RETURN FUND	31,479	27,292
Federal Tax Refund	1,428
Interest Income from PRI	631	631	631

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

The Preservation Fund

EIN:

13-3690790

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
Investment Management Services	22,066	22,066
Philanthropic Consulting Srvcs	7,500		7,500
ADMINISTRATIVE SERVICES	6,488		6,488

- TIN:

TY 2020 TaxesSchedule

Name:

The Preservation Fund

EIN:

13-3690790

Category	Amount	Net Investment Income
990-T Extension for 2019	500
990-T Income Tax for 2019	161
Foreign Tax Paid	273	273
STATE INCOME TAX 2019	306