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. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
THE GERSTNER FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)CO BESSEMER TR 222 ROYAL PALM WA
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PALM BEACH, FL334804303
A Employer identification number

20-8559135
B Telephone number (see instructions)

(561) 655-4030
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$225,266,699J 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) 585
2 Check bullet.............
3 Interest on savings and temporary cash investments 355 355  
4 Dividends and interest from securities... 3,806,210 3,641,226  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 13,491,568
b Gross sales price for all assets on line 6a 46,966,775
7 Capital gain net income (from Part IV, line 2)... 12,548,048
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 546,249 515,993  
12 Total. Add lines 1 through 11........ 17,844,967 16,705,622  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 449,000 100,000   349,000
14 Other employee salaries and wages...... 211,750 0   211,750
15 Pension plans, employee benefits....... 68,036 0   68,036
16a Legal fees (attach schedule)......... Click to see attachment 57,675 0   57,675
b Accounting fees (attach schedule)....... Click to see attachment 33,426 0   24,926
c Other professional fees (attach schedule).... Click to see attachment 421,831 276,247   145,584
17 Interest............... 286,992 205,352   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 300,030 34,959   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 735 0   735
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 822,978 509,530   40,312
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,652,453 1,126,088   898,018
25 Contributions, gifts, grants paid....... 8,596,970 8,596,970
26 Total expenses and disbursements. Add lines 24 and 25 11,249,423 1,126,088   9,494,988
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 6,595,544
b Net investment income (if negative, enter -0-) 15,579,534
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 4,143,426 2,703,509 2,703,509
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) 17,471,364 Click to see attachment15,886,931 15,972,238
b Investments—corporate stock (attach schedule)....... 8,176,525 Click to see attachment7,819,300 10,317,485
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 125,373,003 Click to see attachment135,565,476 196,273,467
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment202,686 Click to see attachment0 Click to see attachment0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 155,367,004 161,975,216 225,266,699
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment71,647 Click to see attachment84,315
23 Total liabilities (add lines 17 through 22)......... 71,647 84,315
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........... 155,295,357 161,890,901
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)..... 155,295,357 161,890,901
30 Total liabilities and net assets/fund balances (see instructions). 155,367,004 161,975,216
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
155,295,357
2
Enter amount from Part I, line 27a .....................
2
6,595,544
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
161,890,901
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
161,890,901
Form 990-PF (2021)
Form 990-PF (2021)
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 THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS V L.P. P    
c THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VI.TE.2-NQ L.P. P    
d THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH) L.P. P    
e THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH.2) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH.3) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH.4) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F-NQ (AV-LH.3) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F -NQ(AV-LH.4) L.P. P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS VIII.F-NQ LP P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS IX.F L.P P    
THRU SCHEDULE K-1 - CARLYLE GLOBAL PARTNERS MASTER COINVESTMENT CAYMAN, L.P. P    
THRU SCHEDULE K-1 - CARLYLE GLOBAL PARTNERS MASTER COINVESTMENT, L.P. P    
THRU SCHEDULE K-1 - FIELDPOINT LLC P    
THRU SCHEDULE K-1 - GLOBAL CREDIT OPPORTUNITIES FUND LP P    
THRU SCHEDULE K-1 - BLACKSTONE REAL ESTATE PARTNERS (OFFSHORE) V L.P. P    
THRU SCHEDULE K-1 - CARLYLE PROPERTY INVESTORS, L.P. P    
SPECIAL CREDIT OPPORTUNITIES (OFFSHORE), L.P. P    
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 44,481,118   39,790,254 4,690,864
b       1,374
c       -31
d       -4,906
e       -2,033
      13,349
      79,621
      942
      6
      33,888
      580
      90,061
      1,566,925
      2,173,647
      330,559
      145,522
      -1
      259,602
      682,422
2,485,657     2,485,657
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       4,690,864
b       1,374
c       -31
d       -4,906
e       -2,033
      13,349
      79,621
      942
      6
      33,888
      580
      90,061
      1,566,925
      2,173,647
      330,559
      145,522
      -1
      259,602
      682,422
      2,485,657
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 12,548,048
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  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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........................... 3 216,556
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- ..... 5 216,556
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 201,731
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 75,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 276,731
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 1,863
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 58,312
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet58,312 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changesClick to see attachment....
3
Yes
 
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletFL, NY
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletHTTPS://GERSTNER.ORG
    14
    The books are in care ofbulletBESSEMER TRUST COMPANY OF FLORIDA Telephone no.bullet (561) 655-4030

    Located atbullet222 ROYAL PALM WAYPALM BEACHFL ZIP+4bullet334804303
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, 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 VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
    Yes
     
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
    No
    c
    .........bullet
    d
    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? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    LOUIS V GERSTNER JR TRUSTEE, CHAIRPERSON
    8.00     		0 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    DR ELIZABETH R GERSTNER TRUSTEE, VICE PRESIDENT
    8.00     		71,000 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    LEA CARPENTER-BROKAW TRUSTEE (THRU 5/25/21)
    1.00     		1,000 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    SANDRA HORBACH TRUSTEE (THRU 5/25/21)
    1.00     		1,000 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    STANLEY LITOW TRUSTEE (THRU 5/25/21)
    1.00     		1,000 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    BESSEMER TRUST COMPANY OF FLORIDA TRUSTEE
    1.00     		0 0 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    KARA V KLEIN TRUSTEE, EXECUTIVE DIRECTOR
    25.00     		375,000 10,500 0
    C/O BESSEMER TRUST 222 ROYAL PALM
    WAY
    PALM BEACH,FL334803403
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    SARAH D PERSILY PROGRAM DIRECTOR
    40.00     		123,750 7,425 0
    222 ROYAL PALM WAY
    PALM BEACH,FL334804303
    MOLLY C GELINAS PROGRAM ASSISTANT
    40.00     		88,000 4,800 0
    222 ROYAL PALM WAY
    PALM BEACH,FL334804303
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    BLACKSTONE REAL ESTATE ADVISORS LP INVESTMENT MANAGEMENT 191,182
    345 PARK AVENUE SUITE 1100
    NEW YORK,NY101541703
    AVON LANE LLC FOUNDATION ADMINISTRATION 130,584
    20 OLD POST ROAD
    ARMONK,NY105041314
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-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 VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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
    210,892,713
    b
    Average of monthly cash balances.......................
    1b
    2,308,116
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    213,200,829
    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
    213,200,829
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    3,198,012
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    210,002,817
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    10,500,141
    Part X
    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 IX, line 6..................
    1
    10,500,141
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    216,556
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    216,556
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    10,283,585
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    10,283,585
    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 XII, line 1 ...
    7
    10,283,585
    Part XI
    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
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    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 XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 10,283,585
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017...... 217,657
    c From 2018......  
    d From 2019...... 1,075,656
    e From 2020......  
    f Total of lines 3a through e ........ 1,293,313
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 9,494,988
    a Applied to 2020, 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 2021 distributable amount..... 9,494,988
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 788,597 788,597
    (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 5 504,716
    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 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		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 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		504,716
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019.... 504,716
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    LOUIS V GERSTNER JR
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ADOPT-A-FAMILY OF THE PALM BEACHES INC
    1712 2ND AVE NORTH
    LAKE WORTH,FL33460     		N/A PC EMERGENCY GRANTS PROGRAM 325,000
    ADOPT-A-FAMILY OF THE PALM BEACHES INC
    1712 2ND AVE NORTH
    LAKE WORTH,FL33460     		N/A PC EMERGENCY GRANTS PROGRAM (NEXT STEP) 25,000
    AID TO VICTIMS OF DOMESTIC ABUSE INC
    PO BOX 6161
    DELRAY BEACH,FL33482     		N/A PC EMERGENCY GRANTS PROGRAM 100,000
    AMERICAN MUSEUM OF NATURAL HISTORY
    200 CENTRAL PARK WEST
    NEW YORK,NY10024     		N/A PC BIOMEDICAL RESEARCH 555,000
    BRONXWORKS
    60 EAST TREMONT AVENUE
    BRONX,NY10453     		N/A PC EMERGENCY GRANTS PROGRAM 25,000
    CATHOLIC CHARITIES COMMUNITY SERVICES
    1011 FIRST AVENUE 6TH FLOOR
    NEW YORK,NY10022     		N/A PC EMERGENCY GRANTS PROGRAM 100,000
    CATHOLIC CHARITIES OF THE DIOCESE OF PALM BEACH INC
    9995 N MILITARY TRAIL
    PALM BEACH GARDENS,FL33410     		N/A PC EMERGENCY GRANTS PROGRAM 50,000
    CATHOLIC SCHOOL PHILANTHROPY WORKING GROUP (FISCAL SPONSOR KNIGHTS OF COLUM
    1 COLUMBUS PL 19TH FL
    NEW HAVEN,CT17940     		N/A PC GENERAL SUPPORT 10,000
    COALITION FOR THE HOMELESS
    129 FULTON STREET
    NEW YORK,NY10038     		N/A PC EMERGENCY GRANTS PROGRAM 400,000
    COLUMBIA UNIVERSITY
    630 WEST 168TH STREET
    NEW YORK,NY10031     		N/A PC BIOMEDICAL RESEARCH 1,000,000
    COLUMBIA UNIVERSITY
    635 WEST 165TH STREET
    NEW YORK,NY10032     		N/A PC BIOMEDICAL RESEARCH 75,000
    CRISTO REY BROOKLYN
    710 E 37TH STREET
    BROOKLYN,NY11203     		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 180,000
    CRISTO REY NYC
    112 E 106TH STREET
    NEW YORK,NY10029     		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 180,000
    DARTMOUTH COLLEGE
    6066 DEVELOPMENT OFFICE
    HANOVER,NH03755     		N/A PC EMERGENCY GRANTS PROGRAM 1,200,000
    FADICA
    4201 CONNECTICUT AV NW
    WASHINGTON,DC20008     		N/A PC ANNUAL DUES 10,000
    FAMILYAID BOSTON
    727 ATLANTIC AVENUE
    BOSTON,MA02111     		N/A PC EMERGENCY GRANTS PROGRAM 350,000
    FAMILYAID BOSTON
    727 ATLANTIC AVENUE
    BOSTON,MA02111     		N/A PC EMERGENCY GRANTS PROGRAM (NEXT STEP) 100,000
    FAMILYAID BOSTON
    727 ATLANTIC AVENUE
    BOSTON,MA02111     		N/A PC HOLIDAY GRANT 20,000
    GOOD SHEPHERD SERVICES
    305 7TH AVE
    NEW YORK,NY10001     		N/A PC EMERGENCY GRANTS PROGRAM 150,000
    HAVENS RELIEF FUND SOCIETY
    475 RIVERSIDE DRIVE
    NEW YORK,NY10115     		N/A POF EMERGENCY GRANTS PROGRAM 300,000
    HOMESTART
    105 CHAUNCY STREET
    BOSTON,MA02111     		N/A PC EMERGENCY GRANTS PROGRAM 20,000
    LEGAL SERVICES OF THE HUDSON VALLEY
    90 MAPLE AVENUE
    WHITE PLAINS,NY10601     		N/A PC EMERGENCY GRANTS PROGRAM 175,000
    LUSTGARTEN FOUNDATION
    415 CROSSWAYS PARK DRIVE
    WOODBURY,NY11797     		N/A PC BIOMEDICAL RESEARCH 20,000
    MASSACHUSETTS GENERAL HOSPITAL
    125 NASHUA STREET SUITE 540
    BOSTON,MA02114     		N/A PC BIOMEDICAL RESEARCH 100,000
    MASSACHUSETTS GENERAL HOSPITAL
    125 NASHUA STREET SUITE 540
    BOSTON,MA02114     		N/A PC BIOMEDICAL RESEARCH 250,000
    MASSACHUSETTS INSTITUTE OF TECHNOLOGY
    77 MASSACHUSETTS AVENUE
    CAMBRIDGE,MA02139     		N/A PC ENVIRONMENTAL RESEARCH 150,000
    MASSACHUSETTS INSTITUTE OF TECHNOLOGY
    77 MASSACHUSETTS AVENUE
    CAMBRIDGE,MA02139     		N/A PC ENVIRONMENTAL RESEARCH 283,861
    MET COUNCIL
    77 WATER STREET - 26TH FLOOR
    NEW YORK,NY10005     		N/A PC EMERGENCY GRANTS PROGRAM 100,000
    NMIC
    45 WADSWORTH AVENUE
    NEW YORK,NY10033     		N/A PC EMERGENCY GRANTS PROGRAM 50,000
    OFFICE OF CATHOLIC SCHOOLS DIOCESE OF PALM BEACH
    9995 N MILITARY TRAIL
    PALM BEACH GARDENS,FL33410     		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 396,000
    PART OF THE SOLUTION
    2759 WEBSTER AVENUE
    BRONX,NY10458     		N/A PC EMERGENCY GRANTS PROGRAM 165,000
    PHILANTHROPY NEW YORK INC
    79 FIFTH AVENUE
    NEW YORK,NY10003     		N/A PC GENERAL SUPPORT 14,350
    PROJECT HOPE
    550 DUDLEY STREET
    BOSTON,MA02119     		N/A PC EMERGENCY GRANTS PROGRAM 12,500
    ROCKEFELLER UNIVERSITY
    1230 YORK AVENUE
    NEW YORK,NY10065     		N/A PC GENERAL SUPPORT 20,000
    SAFE HORIZON INC
    2 LAFAYETTE ST
    NEW YORK,NY10007     		N/A PC EMERGENCY GRANTS PROGRAM 335,000
    SANCTUARY FOR FAMILIES INC
    PO BOX 1406
    NEW YORK,NY10268     		N/A PC EMERGENCY GRANTS PROGRAM 200,000
    SANCTUARY FOR FAMILIES INC
    PO BOX 1406
    NEW YORK,NY10268     		N/A PC EMERGENCY GRANTS PROGRAM (NEXT STEP) 150,000
    SANFORD SCHOOL FOR PUBLIC POLICY
    700 W MAIN ST STE 110
    DURHAM,NC27701     		N/A PC GENERAL SUPPORT 10,000
    THE BRIDGE FUND OF NY INC
    271 MADISON AVENUE STE 907
    NEW YORK,NY10016     		N/A PC EMERGENCY GRANTS PROGRAM 125,000
    THE BRIDGE FUND OF NY INC
    271 MADISON AVENUE STE 907
    NEW YORK,NY10016     		N/A PC EMERGENCY GRANTS PROGRAM 325,000
    THE BROOKLYN NEW SCHOOL
    610 HENRY STREET
    BROOKLYN,NY11231     		N/A PC GENERAL SUPPORT 10,000
    THE DOOR
    121 AVENUE OF THE AMERICAS
    NEW YORK,NY10013     		N/A PC EMERGENCY GRANTS PROGRAM 50,000
    THIRD OPTION FOUNDATION
    11160-C1 SOUTH LAKES DRIVE 158
    RESTON,VA20191     		N/A PC TRUSTEE 20,000
    TREASURE COAST FOOD BANK
    401 ANGLE ROAD
    FT PIERCE,FL34947     		N/A PC HOLIDAY GRANT 10,000
    UASPIRE
    31 MILK STREET SUITE 900
    BOSTON,MA02109     		N/A PC GENERAL SUPPORT 259
    WESTCHESTER COMMUNITY COLLEGE
    HARTFORD HARTFORD HALL
    VALHALLA,NY10595     		N/A PC STUDENT EMERGENCY GRANTS PROGRAM 75,000
    WESTCHESTER COMMUNITY COLLEGE
    HARTFORD HARTFORD HALL
    VALHALLA,NY10595     		N/A PC EMERGENCY GRANTS PROGRAM (NEXT STEP) 150,000
    WOODS HOLE OCEANOGRAPHIC INSTITUTION
    266 WOODS HOLE ROAD WHOI MS 40
    WOODS HOLE,MA02543     		N/A PC ENVIRONMENTAL RESEARCH 75,000
    WOODS HOLE OCEANOGRAPHIC INSTITUTION
    266 WOODS HOLE ROAD WHOI MS 40
    WOODS HOLE,MA02543     		N/A PC ENVIRONMENTAL RESEARCH 75,000
    YWCA OF PALM BEACH COUNTY
    1016 N DIXIE HIGHWAY
    WEST PALM BEACH,FL33401     		N/A PC EMERGENCY GRANTS PROGRAM 75,000
    Total .................................bullet 3a 8,596,970
    bApproved for future payment
    COLUMBIA UNIVERSITY
    635 WEST 165TH STREET
    NEW YORK,NY10032     		N/A PC BIOMEDICAL RESEARCH 1,000,000
    COLUMBIA UNIVERSITY
    635 WEST 165TH STREET
    NEW YORK,NY10032     		N/A PC BIOMEDICAL RESEARCH 150,000
    DARTMOUTH COLLEGE
    6066 DEVELOPMENT OFFICE
    HANOVER,NH03755     		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 2,400,000
    FADICA
    4201 CONNECTICUT AV NW
    WASHINGTON,DC20008     		N/A PC ANNUAL DUES 10,000
    HOMESTART
    105 CHAUNCY STREET
    BOSTON,MA02111     		N/A PC EMERGENCY GRANTS PROGRAM 80,000
    MASSACHUSETTS GENERAL HOSPITAL
    125 NASHUA STREET SUITE 540
    BOSTON,MA02114     		N/A PC BIOMEDICAL RESEARCH 200,000
    MASSACHUSETTS INSTITUTE OF TECHNOLOGY
    77 MASSACHUSETTS AVENUE
    CAMBRIDGE,MA02139     		N/A PC ENVIRONMENTAL RESEARCH 466,139
    MASSACHUSETTS INSTITUTE OF TECHNOLOGY
    77 MASSACHUSETTS AVENUE
    CAMBRIDGE,MA02139     		N/A PC ENVIRONMENTAL RESEARCH 150,000
    OFFICE OF CATHOLIC SCHOOLS DIOCESE OF PALM BEACH
    9995 N MILITARY TRAIL
    PALM BEACH GARDENS,FL33410     		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 594,000
    PROJECT HOPE
    550 DUDLEY STREET
    BOSTON,MA02119     		N/A PC EMERGENCY GRANTS PROGRAM 50,000
    Total .................................bullet 3b 5,100,139
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 355  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		525990 920,211 18 12,571,357  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aOTHER INCOME THRU SCHEDULE K-1S     		525990 18,096 14 522,639  
    bMISCELLANEOUS INCOME     01 4,676  
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 1,103,291 16,741,091 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    17,844,382
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-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 (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX RETURN PREPARATION FEES 33,426 0   24,926

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    TY 2021 ExpenditureResponsibilityStmt
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    HAVENS RELIEF FUND SOCIETY
          		475 RIVERSIDE DRIVE
    NEW YORK,NY101150002     		2020-01-15 275,000 EMERGENCY GRANTS PROGRAM 275,000 TO THE GRANTOR'S KNOWLEDGE, NO FUNDS HAVE BEEN DIVERTED FROM THE PURPOSE OF 04/20/2020, 07/31/2020, 10/30/2020, AND 01/29/2021 2022-03-16 HAVENS SPENT DOWN THEIR GRANT FUNDS ON 12/28/21

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ADOBE INC (ADBE) 34.000 SHARES 18,477 19,280
    AIR PRODUCTS & CHEMICALS (APD) 45.000 SHARES 12,765 13,691
    ALPHABET INC CLASS C (GOOG) 27.000 SHARES 47,751 78,126
    AMAZON.COM INC (AMZN) 15.000 SHARES 46,980 50,015
    AMEREN CORP (AEE) 140.000 SHARES 11,052 12,461
    AMERICAN TOWER CORP (AMT) 104.000 SHARES 24,779 30,420
    AMERICAN WATER WORKS CO (AWK) 60.000 SHARES 9,249 11,331
    AMPHENOL CORP (APH) 215.000 SHARES 14,074 18,803
    AON PLC (AON) 32.000 SHARES 6,940 9,617
    APPLE INC (AAPL) 465.000 SHARES 53,858 82,570
    APTIV PLC (APTV) 125.000 SHARES 19,046 20,618
    ASML HOLDING (ASML) 28.000 SHARES 13,617 22,412
    AT&T INC. CMN (T) 13,700.000 SHARES 402,502 337,020
    AVALONBAY COMMUNITIES INC CMN (AVB) 900.000 SHARES 132,996 227,331
    BANK OF AMERICA CORP (BAC) 855.000 SHARES 24,769 38,038
    BLACKROCK, INC. CMN (BLK) 434.000 SHARES 286,130 397,353
    BLACKSTONE GROUP INC (BX) 235.000 SHARES 14,050 30,406
    BRISTOL-MYERS SQUIBB COMPANY CMN (BMY) 5,600.000 SHARES 337,300 349,160
    CATALENT INC (CTLT) 95.000 SHARES 10,278 12,162
    CHARTER COMMUNICATIONS INC (CHTR) 20.000 SHARES 13,073 13,039
    CHEVRON CORPORATION CMN (CVX) 2,200.000 SHARES 193,847 258,170
    CINTAS CORP (CTAS) 35.000 SHARES 12,720 15,510
    CISCO SYSTEMS, INC. CMN (CSCO) 7,800.000 SHARES 347,458 494,286
    CITIGROUP INC (C) 250.000 SHARES 15,083 15,097
    COCA-COLA COMPANY (THE) CMN (KO) 6,300.000 SHARES 300,254 373,023
    CONOCOPHILLIPS (COP) 320.000 SHARES 14,064 23,097
    CVS HEALTH CORP CMN (CVS) 3,417.000 SHARES 281,466 352,498
    DANAHER CORP (DHR) 85.000 SHARES 18,522 27,965
    EATON CORP PLC (ETN) 135.000 SHARES 19,256 23,330
    EATON CORP PLC CMN (ETN) 1,600.000 SHARES 141,792 276,512
    HILTON WORLDWIDE HOLDINGS (HLT) 145.000 SHARES 15,877 22,618
    HOME DEPOT (HD) 28.000 SHARES 7,698 11,620
    HONEYWELL INTL INC CMN (HON) 1,118.000 SHARES 149,400 233,114
    ILLINOIS TOOL WORKS CMN (ITW) 935.000 SHARES 162,764 230,758
    INTERNATIONAL PAPER CO. CMN (IP) 2,001.000 SHARES 58,707 94,007
    INTL BUSINESS MACHINES CORP CMN (IBM) 2,600.000 SHARES 358,861 347,516
    IQVIA HOLDINGS INC (IQV) 150.000 SHARES 26,201 42,321
    JOHNSON & JOHNSON CMN (JNJ) 2,800.000 SHARES 409,997 478,996
    JPMORGAN CHASE & CO (JPM) 24.000 SHARES 20,846 21,377
    JPMORGAN CHASE & CO CMN (JPM) 3,200.000 SHARES 307,582 506,720
    KLA CORP CMN (KLAC) 800.000 SHARES 247,416 344,088
    LVMH MOET HENNESSY VUITTON (LVMUY) 25.000 SHARES 14,780 20,585
    MC DONALDS CORP CMN (MCD) 1,600.000 SHARES 286,317 428,912
    MEDTRONIC PUBLIC LIMITED COMPA CMN (MDT) 2,905.000 SHARES 315,070 300,523
    MERCADOLIBRE INC (MELI) 4.000 SHARES 6,200 5,393
    META PLATFORMS INC (FB) 145.000 SHARES 39,973 48,770
    MICROSOFT CORP (MSFT) 315.000 SHARES 67,410 105,940
    MICROSOFT CORPORATION CMN (MSFT) 1,700.000 SHARES 308,584 571,744
    MSCI INC (MSCI) 24.000 SHARES 10,410 14,704
    NIKE INC CL B (NKE) 200.000 SHARES 26,943 33,334
    NORTHROP GRUMMAN CORP (NOC) 49.000 SHARES 17,707 18,966
    NVIDIA CORP (NVDA) 32.000 SHARES 9,215 9,411
    PEPSICO INC (PEP) 145.000 SHARES 20,848 25,187
    PIONEER NATURAL RESOURCES (PXD) 60.000 SHARES 6,903 10,912
    PROCTER & GAMBLE COMPANY (THE) CMN (PG) 2,900.000 SHARES 401,769 474,382
    ROSS STORES INC (ROST) 135.000 SHARES 15,188 15,427
    S&P GLOBAL INC. (SPGI) 42.000 SHARES 15,687 19,821
    SAFRAN SA (SAFRY) 115.000 SHARES 16,981 14,022
    SCHWAB CHARLES CORP NEW (SCHW) 345.000 SHARES 18,759 29,014
    SEA LTD ADR (SE) 45.000 SHARES 8,579 10,066
    SEMPRA ENERGY CMN (SRE) 1,400.000 SHARES 170,060 185,192
    SERVICENOW INC (NOW) 23.000 SHARES 11,824 14,929
    TEXAS INSTRUMENTS INC (TXN) 170.000 SHARES 26,996 32,039
    TEXAS INSTRUMENTS INC. CMN (TXN) 2,100.000 SHARES 223,623 395,787
    THE HOME DEPOT, INC. CMN (HD) 1,349.000 SHARES 329,078 559,848
    THERMO FISHER SCIENTIFIC (TMO) 42.000 SHARES 18,397 28,024
    UNION PACIFIC CORP (UNP) 87.000 SHARES 18,150 21,917
    UNION PACIFIC CORP. CMN (UNP) 1,508.000 SHARES 253,271 379,910
    UNITEDHEALTH GROUP INC (UNH) 70.000 SHARES 23,459 35,149
    VENTAS, INC. CMN (VTR) 4,900.000 SHARES 235,318 250,488
    VISA INC (V) 205.000 SHARES 43,404 44,425
    VULCAN MATERIALS (VMC) 105.000 SHARES 19,481 21,795
    XCEL ENERGY INC. CMN (XEL) 2,900.000 SHARES 210,761 196,330
    ZOETIS INC (ZTS) 115.000 SHARES 18,658 28,063

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    US Government Securities - End of Year Book Value:

    15,886,931
    US Government Securities - End of Year Fair Market Value:

    15,972,238
    State & Local Government Securities - End of Year Book Value:


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


    0


    TY 2021 InvestmentsOtherSchedule2
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ASF VII EMPLOYEE CO-INVESTMENT, LP AT COST 318,501 453,160
    BLACKROCK CORE ALPHA BOND FUND - INST (BCRIX) 651,467.527 SHARES AT COST 8,095,512 7,548,599
    BLACKROCK STRATEGIC INCOME OPPORTUNITIES-INST (BSIIX) 1,326,670.475 SHARES AT COST 13,392,886 13,465,705
    BLACKSTONE COMMUNICATIONS PARTNER I L.P. AND AFFILIATES AT COST 1,841 20,572
    BLACKSTONE REAL ESTATE PARTNERS IX AND AFFILIATES AT COST 3,977,597 6,997,390
    BLACKSTONE REAL ESTATE PARTNERS V AND AFFILIATES AT COST 629,941 173,093
    BLACKSTONE REAL ESTATE PARTNERS VI AND AFFILIATES AT COST 3,776 143,207
    BLACKSTONE REAL ESTATE PARTNERS VIII AND AFFILIATES AT COST 2,857,753 6,480,949
    CARLYLE GROUP FUNDS AT COST 28,242,781 40,129,139
    CARLYLE PROPERTY INVESTORS, LP AT COST 3,932,543 7,670,813
    FIELDPOINT LLC AT COST 7,607,204 11,148,684
    GLOBAL CREDIT OPPORTUNITIES FUND, L.P. AT COST 3,531,851 3,523,369
    MATRIX CAPITAL MANAGEMENT FUND (OFFSHORE) LTD. AT COST 11,000,000 18,958,185
    SPECIAL CREDIT OPPORTUNITIES (OFFSHORE), L.P. AT COST 0 207,766
    T. ROWE PRICE CAPITAL APPRECIATION FUND I CLASS (TRAIX) 532,843.303 SHARES AT COST 13,813,250 19,709,874
    THE OBSIDIAN (OFFSHORE) FUND AT COST 6,000,000 11,707,812
    TIGER GLOBAL PRIV INV PARTNERS XV FEEDER, L.P AT COST 330,000 388,530
    TIGER GLOBAL, LTD AT COST 5,170,000 18,531,788
    VANGUARD DIVIDEND GROWTH FUND (VDIGX) 456,743.232 SHARES AT COST 15,670,123 17,940,874
    VANUARD U.S. GROWTH FUND ADMIRAL (VWUAX) 60,549.789 SHARES AT COST 10,170,976 10,200,217
    WEST STREET CAPITAL PARTNERS VIII - PARALLEL, L.P AT COST 267,043 271,537
    WEST STREET GLOBAL GROWTH PARTNERS OFFSHORE FEEDER FUND, LLC AT COST 195,000 198,973
    WEST STREET STRATEGIC SOLUTIONS OFFSHORE FEEDER FUND I, LLC AT COST 356,898 403,231

    TY 2021 LegalFeesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    GENERAL AND ADMINISTRATIVE LEGAL COUNSEL 57,675 0   57,675


    TY 2021 OtherAssetsSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    INVESTMENT REDEMPTION RECEIVABLES 202,686    


    TY 2021 OtherExpensesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FILING FEES 1,500 0   1,500
    INFORMATION TECHNOLOGY 17,430 0   17,430
    INSURANCE 11,195 0   11,195
    MEMBERSHIP DUES 1,172 0   1,172
    OFFICE AND MISC EXPENSES 4,615 0   4,615
    PAYROLL PROCESSING FEES 4,400 0   4,400
    OTHER INVESTMENT EXPENSES 415 415   0
    OTHER DEDUCTIONS THRU SCHEDULE K-1'S 782,251 509,115   0


    TY 2021 OtherIncomeSchedule2
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INVESTMENT INCOME 605 605 605
    SECURITIES LITIGATION PROCEEDS 233 233 233
    OTHER INCOME THRU SCHEDULE K-1S 540,735 515,155 540,735
    MISCELLANEOUS INCOME 4,676   4,676


    TY 2021 OtherLiabilitiesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Description Beginning of Year - Book Value End of Year - Book Value
    INVESTMENT COVERED CALL OPTIONS 71,647 84,315


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOUNDATION ADMINISTRATION 130,584 0   130,584
    EMPLOYEE RECRUITMENT SERVICES 15,000 0   15,000
    INVESTMENT MANAGEMENT AND ADVISORY 276,247 276,247   0


    TY 2021 TaxesSchedule
    Name:
    THE GERSTNER FAMILY FOUNDATION
    EIN:
    20-8559135
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX 175,000 0   0
    STATE UNRELATED BUSINESS INCOME TAX 71,692 0   0
    FOREIGN TAXES WITHHELD 4,175 4,175   0
    FOREIGN TAXES WITHHELD THRU SCHEDULE K-1'S 49,163 30,784   0