Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
FOUNDATION FOR INDIVIDUAL LIBERTY
 
Number and street (or P.O. box number if mail is not delivered to street address)56 N HADDON AVENUE FLOOR 3
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HADDONFIELD, NJ08033
A Employer identification number

52-1599160
B Telephone number (see instructions)

(856) 354-2200
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$8,365,297J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments   59,694  
4 Dividends and interest from securities... 349,635 383,566  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -2,314,590
b Gross sales price for all assets on line 6a 11,148,579
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 247,399 17,854 0
12 Total. Add lines 1 through 11........ -1,717,556 461,114 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 17,394 8,697 0 8,697
c Other professional fees (attach schedule)....   5,284    
17 Interest...............   8    
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,956 4,346 0 0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 2,078 0 0 2,078
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 5,670 6,029 0 5,670
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 28,098 24,364 0 16,445
25 Contributions, gifts, grants paid....... 497,600 497,600
26 Total expenses and disbursements. Add lines 24 and 25 525,698 24,364 0 514,045
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -2,243,254
b Net investment income (if negative, enter -0-) 436,750
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 1,041,416 659,622 659,622
2 Savings and temporary cash investments.........      
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 7,123,450 Click to see attachment5,701,200 5,701,200
c Investments—corporate bonds (attach schedule)....... 476,351 0 0
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 2,637,520 Click to see attachment2,004,475 2,004,475
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 11,278,737 8,365,297 8,365,297
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 11,278,737 8,365,297
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 11,278,737 8,365,297
30 Total liabilities and net assets/fund balances (see instructions). 11,278,737 8,365,297
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
11,278,737
2
Enter amount from Part I, line 27a .....................
2
-2,243,254
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
9,035,483
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
670,186
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
8,365,297
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a AMERICAN AIRLINES GROUP INC P 2020-03-10 2020-03-26
b APPLE HOSPITALITY REIT INC P 2020-04-01 2020-06-09
c BANK OF AMERICA CORP P 2020-04-20 2020-09-09
d CBL & ASSOC PROPERTIES REIT INC P 2020-03-30 2020-01-10
e CITIGROUP INC NEW P 2020-11-06 2020-12-18
CITIZENS FINANCIAL GRP INC P 2020-05-14 2020-09-21
CONOCOPHILLIPS P 2020-03-09 2020-03-26
EXXON MOBIL CORP P 2020-03-27 2020-04-20
FORD MOTOR COMPANY P 2020-06-23 2020-11-20
GAMESTOP CORP CLASS A P 2019-12-10 2020-09-14
GENERAL ELECTRIC COMPANY P 2020-09-04 2020-11-20
HSBC HOLDINGS PLC-SPON ADR P 2019-12-20 2020-04-01
ING GROEP N V SPON ADR P 2019-12-19 2020-12-11
KOHLS CORP P 2020-05-08 2020-05-28
LADDER CAPITAL CORP CL A P 2020-04-01 2020-06-08
MACERICH CO REIT P 2020-05-07 2020-06-09
MACY'S INC P 2020-08-14 2020-11-20
MARATHON OIL CORP P 2020-03-09 2020-05-01
OCCIDENTAL PETE CORP P 2020-01-02 2020-01-07
PENNEY J C CO DEB P 2019-12-18 2020-12-08
PFIZER INCORPORATED P 2020-07-01 2020-12-03
REDWOOD TRUST INC REIT P 2020-04-03 2020-05-22
SUNCOR ENERGY INC NEW P 2020-04-01 2020-04-27
UNITED STATES STEEL CORP NEW P 2020-04-01 2020-11-20
VIATRIS INC COM P 2020-09-09 2020-11-20
DEUTSCHE BANK AG P 2020-01-02 2020-12-17
ENDO INTERNATIONAL PLC P 2019-07-11 2020-02-26
ALLIANCE RESOURCES PARTNERS LP P 2019-10-21 2020-10-06
B P PRUDHOE BAY ROYALTY TRUST P 2019-08-09 2020-04-16
CONSOL COAL RESOURCES LP P 2019-11-26 2020-10-06
ICAHN ENTERPRISES LP P 2019-11-26 2020-03-05
JUST ENERGY GROUP INC COM NEW P 2020-09-29 2020-09-29
MPLX LP COM UNIT RPSTG LIMITED P 2019-12-20 2020-05-01
BARCLAYS PLC ADRH P 2018-08-23 2020-11-11
CBL & ASSOC PROPERTIES REIT INC P 2017-07-03 2020-11-10
CREDIT SUISSE GROUP SPON ADR P 2018-08-21 2020-11-11
GE CAPITAL CORP INTERNOTES P 2018-11-15 2020-11-17
GENERAL ELEC CAP CORP INTERNOTES P 2019-08-15 2020-11-17
ING GROEP N V SPON ADR P 2019-08-05 2020-12-11
MFA FINANCIAL INC P 2016-12-27 2020-03-09
MACY'S INC P 2019-03-05 2020-04-01
MANNING & NAPIER INC CLASS A P 2017-07-03 2020-03-19
NEW RESIDENTIAL INVT COR P 2016-06-08 2020-03-09
ORCHID ISLAND CAPITAL INC P 2016-12-27 2020-11-04
PENNEY J C CO INC P 2018-08-09 2020-11-10
PENNEY J C CO DEB P 2019-03-05 2020-12-08
WELLS FARGO & CO NEW P 2019-04-10 2020-05-01
DEUTSCHE BANK AG P 2018-08-21 2020-12-17
UBS GROUP AG P 2018-08-23 2020-05-01
ALLIANCE RESOURCES PARTNERS LP P 2018-03-21 2020-09-04
B P PRUDHOE BAY ROYALTY TRUST P 2019-04-08 2020-04-16
CONSOL COAL RESOURCES LP P 2017-08-21 2020-10-06
ENERGY TRANSFER LP P 2018-03-21 2020-05-01
SPRAGUE RESOURCES LP P 2019-04-03 2020-11-04
SUBURBAN PROPANE PARTNERS L.P. P 2018-07-25 2020-05-01
LT CAPITAL GAIN DISTRIBUTION P    
LT CAPITAL LOSS FROM LPS P    
ST CAPITAL LOSS FROM LPS P    
SECTION 1231 LOSSES LPS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 236,578   233,075 3,503
b 195,325   129,731 65,593
c 500,326   486,215 14,111
d 2,734   18,640 -15,906
e 595,078   429,804 165,274
258,650   206,595 52,055
307,518   331,713 -24,195
851,085   764,898 86,186
212,785   154,258 58,527
365,222   495,938 -130,716
231,877   155,911 75,966
331,157   440,336 -109,178
142,704   139,198 3,506
206,595   181,044 25,551
196,531   89,968 106,563
342,736   260,465 82,270
495,503   634,748 -139,245
85,941   59,310 26,631
579,944   787,192 -207,247
    292 -292
576,721   523,374 53,347
127,778   68,184 59,594
76,490   76,954 -464
664,174   546,002 118,173
86,646   82,329 4,317
55,549   40,708 14,841
598,018   392,318 205,700
118,699   327,734 -209,035
64,070   109,044 -44,974
45,891   132,543 -86,652
305,949   312,918 -6,970
4     4
87,334   130,509 -43,175
177,252   223,951 -46,699
4,547   503,949 -499,402
148,486   226,695 -78,210
101,082   75,322 25,760
107,512   89,486 18,026
136,684   147,501 -10,817
36,221   38,191 -1,971
75,688   244,605 -168,916
245,902   275,334 -29,432
36,515   31,812 4,703
52,790   99,824 -47,034
20,274   459,420 -439,146
2,187   366,640 -364,453
140,549   238,103 -97,554
467,265   514,907 -47,642
96,990   155,409 -58,419
31,243   171,533 -140,290
42,655   218,061 -175,407
29,906   144,359 -114,453
76,298   132,142 -55,845
81,739   93,271 -11,532
72,840   117,678 -44,839
18,342     18,342
    187 -187
    1,291 -1,291
    4,737 -4,737
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       3,503
b       65,593
c       14,111
d       -15,906
e       165,274
      52,055
      -24,195
      86,186
      58,527
      -130,716
      75,966
      -109,178
      3,506
      25,551
      106,563
      82,270
      -139,245
      26,631
      -207,247
      -292
      53,347
      59,594
      -464
      118,173
      4,317
      14,841
      205,700
      -209,035
      -44,974
      -86,652
      -6,970
      4
      -43,175
      -46,699
      -499,402
      -78,210
      25,760
      18,026
      -10,817
      -1,971
      -168,916
      -29,432
      4,703
      -47,034
      -439,146
      -364,453
      -97,554
      -47,642
      -58,419
      -140,290
      -175,407
      -114,453
      -55,845
      -11,532
      -44,839
      18,342
      -187
      -1,291
      -4,737
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -2,167,782
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 202,372
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 6,071
c All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 6,071
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 6,071
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 35,733
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 35,733
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 29,662
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet29,662 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNJ
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.UMHOLDINGS.COM/FOUNDATION
    14
    The books are in care ofbulletREBECCA PRICE Telephone no.bullet (856) 354-2200

    Located atbullet56 N HADDON AVENUEHADDONFIELDNJ ZIP+4bullet08033
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    JOHN AGLIAORO CO-CHAIRMAN/TRUSTEE
    1.00     		0 0 0
    56 N HADDON AVENUE FLOOR 3
    HADDONFIELD,NJ08033
    JOAN CARTER CO-CHAIRMAN/SECRETARY/TRUSTEE
    1.00     		0 0 0
    56 N HADDON AVENUE FLOOR 3
    HADDONFIELD,NJ08033
    ARTHUR W HICKS JR V. PRESIDENT/TREASURER/TRUSTEE
    1.00     		0 0 0
    56 N HADDON AVENUE FLOOR 3
    HADDONFIELD,NJ08033
    JAMES CARLL ASSISTANT SECRETARY/TRUSTEE
    1.00     		0 0 0
    56 N HADDON AVENUE FLOOR 3
    HADDONFIELD,NJ08033
    LIESEL HENDERSON TRUSTEE
    1.00     		0 0 0
    56 N HADDON AVENUE FLOOR 3
    HADDONFIELD,NJ08033
    MARK HENDERSON TRUSTEE
    1.00     		0 0 0
    56 N HADDON AVENUE FLOOR 3
    HADDONFIELD,NJ08033
    JORDAN MERSKY TRUSTEE
    1.00     		0 0 0
    56 N HADDON AVENUE FLOOR 3
    HADDONFIELD,NJ08033
    JUSTIN AGLIALORO TRUSTEE
    1.00     		0 0 0
    56 N HADDON AVENUE FLOOR 3
    HADDONFIELD,NJ08033
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 NONE 0
    2  
    All other program-related investments. See instructions.
    3 Click to see attachment 0
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    7,406,952
    b
    Average of monthly cash balances.......................
    1b
    259,098
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    7,666,050
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    7,666,050
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    114,991
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    7,551,059
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    377,553
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    377,553
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    6,071
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    6,071
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    371,482
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    371,482
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    371,482
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    514,045
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    514,045
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    514,045
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 371,482
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:2018, 2017, 2016 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 293,677
    b From 2016...... 91,301
    c From 2017...... 141,975
    d From 2018...... 285,092
    e From 2019...... 268,719
    fTotal of lines 3a through e........ 1,080,764
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 514,045
    a Applied to 2019, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 371,482
    e Remaining amount distributed out of corpus 142,563
    5 Excess distributions carryover applied to 2020. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 1,223,327
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		293,677
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		929,650
    10 Analysis of line 9:
    a Excess from 2016.... 91,301
    b Excess from 2017.... 141,975
    c Excess from 2018.... 285,092
    d Excess from 2019.... 268,719
    e Excess from 2020.... 142,563
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ALLIANCE FOR DECISION EDUCATION
    401 CITY AVENUE SUITE 915
    BALA CYNWYD,PA19004     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 5,000
    THE ATLAS SOCIETY -
    1001 CONNECTICUT AVENUE NW SUITE
    380
    WASHINGTON,DC20036     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 50,000
    THE BARNES FOUNDATION
    2205 BENJAMIN FRANKLIN PARKWAY
    PHILADELPHIA,PA19130     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 50,000
    BECKETT FUND FOR RELIGIOUS LIBERTY
    1200 NEW HAPMPSHIRE AVENUE NW SUITE
    700
    WASHINGTON,DC20036     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 25,000
    CAPE MAY REGIONAL HEALTH SYSTEM
    TWO TONE HARBOR BLVD
    CAPE MAY COURT HOUSE,NJ08210     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 2,500
    CATO INSTITUTE
    1000 MASSACHUSETTS AVE NW
    WASHINGTON,DC20001     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 10,000
    COMMONWEALTH FOUNDATION
    630 FREEDOM BUSINESS CENTER DR
    SUITE 109
    KING OF PRUSSIA,PA19406     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 15,000
    COMMUNITY FOUNATION OF SOUTH JERSEY
    125 ROUTE 73 NORTH
    WEST BERLIN,NJ08091     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 500
    CONFERENCE OF JEWISH AFFAIRS
    90 WASHINGTON VALLEY ROAD SUITE
    1261
    BEDMINSTER,NJ07921     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 1,800
    DAVID HOROWITZ FREEDOM CENTER
    14724 VENTURA BLVD S-820
    SHERMAN OAKS,CA91403     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 5,000
    THE FEDERALIST SOCIETY
    1776 I STREET NW SUITE 300
    WASHINGTON,DC20006     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 10,000
    FOUNDATION FOR INDIVIDUAL RIGHTS IN EDUCATION
    510 WALNUT STREET SUITE 1250
    PHILADELPHIA,PA19106     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 10,000
    FREE THE PEOPLE
    611 PENNSYLVANIA AVE SE 259
    WASHINGTON,DC200034303     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 5,000
    FREEDOM WORKS FOUNDATION
    400 NORTH CAPITOL NW SUITE 765
    WASHINGTON,DC20001     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 50,000
    FREEDOMFEST INC
    PO BOX 1153
    RIVERTON,UT84065     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 25,000
    FREEDOMS FOUNDATION AT VALLEY FORGE
    PO BOX 67
    VALLEY FORGE,PA19481     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 5,000
    GOLDWATER INSTITUTE
    500 EAST CORONADO ROAD
    PHOENIX,AZ85004     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 5,000
    THE HEARTLAND INSTITUTE
    3939 NORTH WILKE ROAD
    ARLINGTON HEIGHTS,IL60004     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 5,000
    INSTITUTE FOR HUMANE STUDIES
    3434 WASHINGTON BLVD MS1C5
    ARLINGTON,VA22201     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 5,000
    INSTITUTE FOR JUSTICE
    901 N GLEBE ROAD SUITE 900
    ARLINGTON,VA22203     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 5,000
    LINCOLN UNIVERSITY
    1570 BALTIMORE PIKE
    LINCOLN UNIVERSTIY,PA19352     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 13,500
    MANHATTAN INSTITUTE FOR POLICY RESEARCH
    52 VANDERBILT AVENUE
    NEW YORK,NY10017     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 5,000
    MARINCE CORPS HERITAGE FOUNDATION
    18900 JEFFERSON DAVIS HIGHWAY
    TRIANGLE,VA22172     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 10,000
    MUSEUMOF THE AMERICAN REVOLUTION
    123 CHESTNUT STREET SUITE 401
    PHILADELPHIA,PA19106     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 50,000
    OPERA COMPANY OF PHILADELPHIA
    1420 LOCUST ST SUITE 210
    PHILADELPHIA,PA19102     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 1,000
    PHILADELPHIA YOUTH ORCHESTRA
    PO BOX 41810
    PHILADELPHIA,PA191011810     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 2,500
    THE PHILLY POPSENCORE SERIES INC
    230 SOUTH BROAD STREET SUITE 800
    PHILADELPHIA,PA19102     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 20,000
    REASON FOUNDATION
    5737 MESMER AVENUE
    LOS ANGELES,CA90230     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 10,000
    STATE POLICY NETWORK
    1655 NORTH FORT MYER DRIVE
    ARLINGTON,VA22209     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 5,000
    STORY STORKS
    PO BOX 2
    HADDON HEIGHTS,NJ08035     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 1,000
    ABRAHAM LINCOLN FOUNDATION - HERITAGE CAMPAIGN
    140 S BROAD STREET
    PHILADELPHIA,PA19102     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 60,000
    TURNING POINT
    217 1/2 ILLINOIS STREET
    LEMONT,IL60439     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 5,000
    VIRTUA FOUNDATION
    1600 HADDON AVENUE
    CAMDEN,NJ08103     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 10,000
    YOUNG AMERICANS FOR LIBERTY
    500 N CAPITAL OF TEXAS HWY BLDG 5
    SUITE 100
    AUSTIN,TX78746     		NONE PC ASSISTANCE FOR CHARITABLE PURPOSE 15,000
    Total .................................bullet 3a 497,800
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 349,635  
    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.....     14 247,399  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		523000   18 -2,314,590  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 -1,717,556 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    -1,717,556
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    FOUNDATION FOR INDIVIDUAL LIBERTY
    EIN:
    52-1599160
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 17,394 8,697 0 8,697

    TY 2020 AllOthProgRltdInvestmentsSch
    Name:
    FOUNDATION FOR INDIVIDUAL LIBERTY
    EIN:
    52-1599160
    Category Amount
    NONE 0

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    FOUNDATION FOR INDIVIDUAL LIBERTY
    EIN:
    52-1599160
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ANNALY CAPITAL MANAGEMENT 211,250 211,250
    BARCLAYS PLC 199,750 199,750
    BAYER AG 148,400 148,400
    CHIMERA INVT 205,000 205,000
    CREDIT SUISSE GROUP 192,000 192,000
    ELLINGTON RESIDENTIAL MORTG. 260,800 260,800
    FIRST EAGLE ALTERNATIVE (THL CREDIT INC.) 182,500 182,500
    GANNETT CO (FORMERLY NEW MEDIA) 336,000 336,000
    GASLOG PARTNERS 136,000 136,000
    INVESCO MORTGAGE CAP INC 169,000 169,000
    JUST ENERGY ROUP 117,000 117,000
    METRO BK PLC 36,600 36,600
    MFA FINANCIAL 194,500 194,500
    NEW RESIDENTIAL INVT. 198,800 198,800
    ORCHID ISLAND CAPITAL 208,800 208,800
    OWL ROCK CAP CORP 316,500 316,500
    PENN REAL EST INV. 125,000 125,000
    SIMON PROPERTY GROUP 852,800 852,800
    SUBURBAN PROPANE 222,900 222,900
    TWO HBRS INVT. 159,250 159,250
    UBS GROUP 282,600 282,600
    VERDANTA LTD 263,400 263,400
    WASHINGTON PRIME GRP 97,650 97,650
    WELLS FARGO & CO NEW 452,700 452,700
    XINYUAN REAL ESTATE ADR 132,000 132,000

    TY 2020 InvestmentsOtherSchedule2
    Name:
    FOUNDATION FOR INDIVIDUAL LIBERTY
    EIN:
    52-1599160
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ALLIANCE RESOURCES PARTNER LP FMV 112,000 112,000
    ENERGY TRANSFER LP FMV 309,000 309,000
    GENESIS ENERGY LP FMV 155,250 155,250
    GLOBAL PARNTERS LP FMV 166,200 166,200
    GOLAR LNG PARTNERS LP FMV 129,000 129,000
    USA COMPRESSION PARTNERS LP FMV 204,000 204,000
    MPLX LP FMV 162,375 162,375
    PLAINS ALL AMERICAN PIPELINE FMV 206,000 206,000
    SPRAGUE RESOURCES LP FMV 284,250 284,250
    WESTERN MIDSTREAM FMV 276,400 276,400

    TY 2020 OtherDecreasesSchedule
    Name:
    FOUNDATION FOR INDIVIDUAL LIBERTY
    EIN:
    52-1599160
    Description Amount
    UNREALIZED LOSS 670,186


    TY 2020 OtherExpensesSchedule
    Name:
    FOUNDATION FOR INDIVIDUAL LIBERTY
    EIN:
    52-1599160
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEES 5,670 0 0 5,670
    LP PORTFOLIO DEDUCTIONS 0 6,029 0 0


    TY 2020 OtherIncomeSchedule2
    Name:
    FOUNDATION FOR INDIVIDUAL LIBERTY
    EIN:
    52-1599160
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ROYALTIES 0 10,606 0
    OTHER PORTFOLIO INCOME FROM LP 247,399 7,248 0


    TY 2020 TaxesSchedule
    Name:
    FOUNDATION FOR INDIVIDUAL LIBERTY
    EIN:
    52-1599160
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES PAID 2,956 4,346 0 0