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
AM Josephs Family Foundation

% Foundation Source

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

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

A Employer identification number

27-1715734

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

$1,913,363J 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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	0
2	Check .............
3	Interest on savings and temporary cash investments	319		319
4	Dividends and interest from securities...	64,079		64,079
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-53,838
b	Gross sales price for all assets on line 6a 724,452
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).......		12,045	12,045
12	Total. Add lines 1 through 11........	22,605		76,443
13	Compensation of officers, directors, trustees, etc.	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		10,174	10,174
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		2,481
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		10,523	8	10,515
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	23,178		10,182	10,515
25	Contributions, gifts, grants paid.......	82,560			82,560
26	Total expenses and disbursements. Add lines 24 and 25	105,738		10,182	93,075
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-83,133
b	Net investment income (if negative, enter -0-)			66,261
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

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

Form 990-PF (2020)

Page 2

Part II		Balance Sheets	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.........	78,166	35,982	35,982
	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)
	b	Investments—corporate stock (attach schedule).......	1,725,903	1,672,908	1,760,030
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	105,305	117,351	117,351
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	1,909,374	1,826,241	1,913,363
	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	1,909,374	1,826,241
	29	Total net assets or fund balances (see instructions).....	1,909,374	1,826,241
	30	Total liabilities and net assets/fund balances (see instructions).	1,909,374	1,826,241

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

1,909,374

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

-83,133

Other increases not included in line 2 (itemize) bullet

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

1,826,241

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 .

1,826,241

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
c
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	724,452	778,290	-53,838
b
c
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			-53,838
b
c
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	-53,838
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	921
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	921
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	921
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	2,300
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	2,300
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	1,379
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax1,379	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?........

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

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-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
Allen Josephs	Pres, Dir, Sec 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Pres, Dir, Sec 1.0	0	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


2


All other program-related investments. See instructions.
3

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

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

1,454,889

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

157,229

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

117,351

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

1,729,469

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

1,729,469

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

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

25,942

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

1,703,527

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

85,176

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

85,176

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

921

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

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

921

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

84,255

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

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

84,255

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

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

84,255

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 ..........

93,075

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

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

93,075

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

93,075

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			84,255
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......	14,759
b From 2016......
c From 2017......	1,944
d From 2018......
e From 2019......	15,418
fTotal of lines 3a through e........		32,121
4Qualifying distributions for 2020 from Part
XII, line 4: $ 93,075
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.....			84,255
e Remaining amount distributed out of corpus		8,820
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		40,941
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) ...		14,759
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		26,182
10 Analysis of line 9:
a Excess from 2016....
b Excess from 2017....	1,944
c Excess from 2018....
d Excess from 2019....	15,418
e Excess from 2020....	8,820

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).)

Allen Josephs

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
AMERICAN FRIENDS OF DARCHE NOAM INC 504 REDWOOD DR CEDARHURST,NY11516	N/A	PC	Charitable Event	1,000
AMERICAN FRIENDS OF DARCHE NOAM INC 504 REDWOOD DR CEDARHURST,NY11516	N/A	PC	MIDRESHET RACHEL V'CHAYA PROGRAM	5,000
AMERICAN FRIENDS OF YAD ELIEZER INC 410 GLENN RD JACKSON,NJ08527	N/A	PC	General & Unrestricted	2,500
AMERICAN FRIENDS OF YAD ELIEZER INC 410 GLENN RD JACKSON,NJ08527	N/A	PC	Baby formula program	1,000
AMERICAN FRIENDS OF YESHIVAS BIRCAS HATORAH INC 318 EVANSTON DR EAST WINDSOR,NJ08520	N/A	PC	General & Unrestricted	500
BOCA RATON KOLLEL 21644 SONOMA CT BOCA RATON,FL33433	N/A	PC	General & Unrestricted	2,500
CENTRAL FUND OF ISRAEL 461 CENTRAL AVE CEDARHURST,NY11516	N/A	PC	Harchivi fund	1,000
CHASDEI AVOS 14111 72ND CRESCENT FLUSHING,NY11367	N/A	PC	General & Unrestricted	500
COLEL CHABAD 806 EASTERN PKWY BROOKLYN,NY11213	N/A	PC	Charitable Event	1,500
COLEL CHABAD 806 EASTERN PKWY BROOKLYN,NY11213	N/A	PC	Passover fund	500
COMMITTEE FOR THE RESCUE OF ISRAELS BABIES 1274 49TH ST BROOKLYN,NY11219	N/A	PC	General & Unrestricted	1,000
FRIENDS OF THE ISRAEL DEFENSE FORCES 1903 S CONGRESS AVE STE 202 BOYNTON BEACH,FL33426	N/A	PC	General & Unrestricted	1,000
JEW IN THE CITY PO BOX 2168 TEANECK,NJ07666	N/A	PC	General & Unrestricted	10,000
JEWISH EDUCATION CENTER OF SOUTH FLORIDA INC 500 NE SPANISH RIVER BLVD STE 15 BOCA RATON,FL33431	N/A	PC	General & Unrestricted	7,500
JEWISH HERITAGE CENTER OF QUEENS AND LONG ISLAND 6829 MAIN ST FLUSHING,NY11367	N/A	PC	Charitable Event	1,500
MATANAH BSESSER OF SOUTH FLORIDA INC 17340 NE 12TH AVE MIAMI,FL33162	N/A	PC	Boca Raton Kollel program	500
PRAGER UNIVERSITY FOUNDATION 15021 VENTURA BLVD 552 SHERMAN OAKS,CA91403	N/A	PC	General & Unrestricted	500
TORAH ACADEMY OF BOCA RATON INC 3881 NW 3RD AVE BOCA RATON,FL33431	N/A	PC	General & Unrestricted	4,000
YAD L ACHIM PEYLEI ISRAEL 172 1/2 LEE AVE BROOKLYN,NY11211	N/A	PC	General & Unrestricted	1,000
YESHIVA TIFERES TORAH OF BOCA RATON INC 7200 PALMETTO CIR N BOCA RATON,FL33433	N/A	PC	General & Unrestricted	10,200
YISMACH MOSHE INC 6404 WILSHIRE BLVD LOS ANGELES,CA90048	N/A	PC	Pesach Drive fund	360
YOUNG ISRAEL OF BOCA RATON 7200 PALMETTO CIR N BOCA RATON,FL33433	N/A	PC	General & Unrestricted	8,500
YOUNG ISRAEL OF BOCA RATON 7200 PALMETTO CIR N BOCA RATON,FL33433	N/A	PC	Building Campaign	20,000
YOUNG ISRAEL OF BOCA RATON 7200 PALMETTO CIR N BOCA RATON,FL33433	N/A	PC	RDF fund	500
Total ................................. 3a				82,560

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	319
4 Dividends and interest from securities....			14	64,079
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	-53,838
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aINCOME FROM ANNUITIES			14	12,045
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				22,605

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

22,605

(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.)

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:

AM Josephs Family Foundation

EIN:

27-1715734

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income	Cost of Goods Sold Not Included

- TIN:

TY 2020 GeneralExplanationAttachment

Name:

AM Josephs Family Foundation

EIN:

27-1715734

Identifier	Return Reference	Explanation
Part XIII (990-PF) Undistributed Income	Part XIII (990-PF) - Undistributed Income	In 2019, A.M. Josephs Family Foundation (the "Foundation") discovered that on its Form 990-PF for taxable year ending December 31, 2019, Parts X through XI, inclusive, were not recorded properly. The Foundation would not have been subject to an underdistribution penalty under 4942 for such taxable year if such parts of the return had been properly recorded. Therefore, the Foundation has chosen not to amend Form 990-PF for the taxable year ending December 31, 2019. Instead, the Foundation has adjusted the amounts reported on Part XIII, Lines 3e and 3f, of Form 990-PF for the taxable year ending December 31, 2020 to reflect the corrected amounts.

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

AM Josephs Family Foundation

EIN:

27-1715734

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ADAMS DIVERSIFIED EQUITY FUND	3,608	4,063
ADVENT CLAYMORE CONV	33,056	36,311
ALAMO GP INC	5,799	18,209
ALLIANCEBERNSTEIN GLOBAL HIGH	11,832	12,723
ALLIANZGI NFJ DIVIDEND INT & P	37,326	45,845
ALPINE GLOBAL DYNAMI	2,370	2,579
ALPINE GLOBAL PREMIER PROP FD	15,294	14,523
ALPINE TOTAL DYNAMIC DIVIDEND	37,616	42,719
APOLLO SENIOR FLOATING RATE FU	2,872	3,010
APOLLO TACTICAL INCOME FUND IN	4,806	5,010
APPLE INC	5,203	37,153
ARES DYNAMIC CR ALLOCATION FD	9,071	8,888
BLACKROCK CORE BOND TRUST	29,651	36,333
BLACKROCK CREDIT ALLOCATION IN	58,472	64,283
BLACKROCK FLOATING RATE INCOME	3,043	3,088
BLACKROCK GLOBAL OPPORTUNITIES	23,823	26,599
BLACKROCK INTL GROWTH & INCOME	9,599	10,214
BLACKROCK RESOURCES & COMMODIT	5,229	7,247
BOULDER GROWTH & INCOME FUND I	8,501	9,135
BRAINSTORM CELL THERAPEUTICS	3,835	4,530
BRANDYWINE GLOBAL INCOME OPPOR	17,499	18,373
BROOKFIELD REAL ASSETS INCOME	7,120	8,041
CAPITAL PRODUCT PARTNERS UNITS	13,134	9,281
CBRE CLARION GLOBAL REAL ESTAT	21,559	21,583
CENTRAL SECURITIES CORP	757	881
CLOUGH GLOBAL OPPRT FUND	5,489	7,910
COHEN AND STEERS LIMITED DURAT	1,140	1,277
DEBT STRATEGY FUND	8,075	7,587
DELTA APPAREL INC	1,903	4,014
DIAMOND S SHIPPING INC	8,615	5,221
DREYFUS HI YL STR FD	864	966
DUCOMMUN INC	5,524	12,351
DUFF & PHELPS GLOBAL UTILITY I	4,374	4,599
EATON VANCE LIMITED DURATION I	7,583	7,744
ENNIS BUSINESS FORMS	5,666	5,444
FAB UNIVERSAL CORP INC	2,176
FIRST TRUST HIGH INCOME LONG S	8,696	8,906
FIRST TRUST INTERMEDIATE DURAT	25,414	28,090
FIVE STAR SENIOR LIVING INC	4,425	690
FLEXSTEEL INDUSTRIES INC	5,794	8,393
GENERAL AMER INVESTORS	2,948	3,310
GOLDEN STAR RESOURCES LTD	3,049	11,130
HIMAX TECHNOLOGIES - ADR	11,789	14,780
HOOKER FURNITURE CORPORATION	5,695	11,449
IDT CORP CL B	7,457	7,824
INTERNATIONAL PAPER CO	4,478	4,972
INVESCO FTSE RAFI EMERGING MAR	4,685	4,782
INVESCO QQQ TRUST	15,695	27,609
ISHARE SP SMALL CAP 600 INDEX	9,419	9,650
ISHARES CORE MSCI EAFE ETF	24,754	28,051
ISHARES CORE MSCI EMERGING MAR	21,050	25,374
ISHARES MSCI EAFE SMALL CAP IN	9,402	9,706
ISHARES MSCI EMERGING MARKETS	16,443	16,741
ISHARES NASDAQ BIOTECHNOLOGY	14,830	16,815
ISHARES RUSSELL 1000 INDEX FD	15,240	18,218
ISHARES S&P 500 GROWTH INDEX F	20,582	45,440
ISHARES S&P 500 INDEX FD	29,522	36,788
ISHARES S&P GSTI SOF	16,599	16,643
ISHARES TRUST MSCI EAFE INDEX	46,841	53,042
ISHARES US MEDICAL DEVICES IND	15,290	17,347
IVY HIGH INCOME OPPORTUNITIES	596	757
JOHN HANCOCK PFD INCOME FUND I	1,127	1,141
KEYTRONIC CORPORATION	5,654	3,623
KIMBALL ELECTRONICS, INC	1,680	6,412
KIMBALL INTERNATIONAL, INC	4,002	6,393
LA JOLLA PHARMA	14,760	3,104
LIBERATED SYND COM	72	2,176
M F S INTRMDT INC TR	1,835	1,836
MARLIN BUSINESS SERVICES CORP	5,619	2,938
MFS CHARTER INC. SH BEN INT	24,374	25,801
MFS MULTIMARKET INCOME TRUST	26,332	27,623
MITCHAM INDS	5,619	706
NUVEEN CREDIT STRATEGIES INCOM	6,266	6,577
NUVEEN GLOBAL HIGH INCOME FUND	3,344	3,250
NUVEEN MLT STR I&G	2,079	2,185
NUVEEN QUALITY PREFERRED INC F	3,625	4,271
NUVEEN REAL ASSET INCOME AND G	12,921	13,164
NUVEEN SENIOR INCOME FUND	1,885	1,905
OLYMPIC STEEL INC	5,680	2,799
PC CONNECTION	5,737	17,024
PRECIGEN	4,351	2,040
PRUDENTIAL GLOBAL SHORT DURATI	15,956	16,419
PRUDENTIAL SHORT DURATION HIGH	9,850	10,635
PUTNAM PREMIER INCM	2,377	2,441
RAFAEL HOLDINGS, INC	2,756	7,369
RENEWABLE ENERGY GROUP INC	5,776	27,620
REX AMERICAN RESOURCES CORPORA	5,653	12,123
RIVERNORTH DOUBLELINE STRATEGI	6,629	6,115
ROYCE MICRO CAP TRUST INC	3,614	5,353
ROYCE VALUE TRUST, INC	31,731	54,037
SALEM COMMUNICATIONS CORP	5,758	738
SCHWAB US BROAD MARKET	17,207	23,202
SHOE CARNIVAL, INC	5,558	8,424
SPDR DOW JONES INDUSTRIAL AVER	15,959	17,124
SPDR PORTFOLIO MID CAP ETF	7,881	9,615
STANDARD MOTOR PRODS	5,641	6,878
SUPERCOM LTD	331,519	122,452
TEMPLETON EMERGING MARKETS INC	3,170	3,061
TEMPLETON GLOBAL INCOME FUND	12,818	12,122
TEVA PHARMACEUTICAL INDUSTRIES	14,957	8,685
TRAVELCENTERS OF AMERICA	5,838	3,912
TRI CONTL CP	8,514	9,489
TUPPERWARE CORP	4,370	1,620
USD ROCKY BRANDS INC	5,858	10,667
VANGUARD MID-CAP ETF	16,130	16,955
VANGUARD S&P 500 ETF	31,309	35,056
VANGUARD SM-CAP ETF	16,071	17,521
VANGUARD TOTAL STOCK MARKET ET	82,436	123,013
VAXIL BIO LTD CA COM NPV	10,930	12,465
VERITIV CORPORATION	34	21
VERTEX PHARMCTLS INC	12,023	23,634
VIRTUS GLOBAL MULTI-SECTOR INC	1,069	1,308
VOXX INTERNATIONAL CORPORATION	5,565	5,232
VOYA GLOBAL EQ DIV & PREM OPPT	6,393	6,447
VOYA INFRASTRUCTURE INDUSTRIAL	1,911	2,307
WEC ENERGY GROUP, INC	4,195	9,203
WELLS FARGO ADVANTAGE INCOME O	10,314	10,453
WESTERN ASSET EMERGING MARKETS	20,963	20,350
WESTERN ASSET/CLAYMORE US TREA	5,827	6,279
WESTERN ASSET/CLAYMR	1,326	1,350
WILLIS LEASE FINANCE CORPORATI	5,791	12,336
XOMA LTD	9,238	5,516
ZEDGE, INC	1,854	1,274

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

AM Josephs Family Foundation

EIN:

27-1715734

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
ANNUITY - JACKSON LIFE #102246		117,351	117,351

- TIN:

TY 2020 OtherExpensesSchedule

Name:

AM Josephs Family Foundation

EIN:

27-1715734

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Administrative Fees	10,490		10,490
Bank Charges	8	8
State or Local Filing Fees	25		25

- TIN:

TY 2020 OtherIncomeSchedule2

Name:

AM Josephs Family Foundation

EIN:

27-1715734

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
INCOME FROM ANNUITIES	12,045	12,045

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

AM Josephs Family Foundation

EIN:

27-1715734

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Services	10,174	10,174

- TIN:

TY 2020 TaxesSchedule

Name:

AM Josephs Family Foundation

EIN:

27-1715734

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
990-PF Estimated Tax for 2020	2,300
990-PF Excise Tax for 2019	181