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
JANE & LEONARD KORMAN FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)8 NESHAMINY INTERPLEX SUITE 400
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
TREVOSE, PA19053
A Employer identification number

20-4253701
B Telephone number (see instructions)

(215) 244-5159
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$16,445,128J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 25,488 25,488  
4 Dividends and interest from securities... 150,750 150,750  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,162,574
b Gross sales price for all assets on line 6a 3,995,487
7 Capital gain net income (from Part IV, line 2)... 1,162,574
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 4,018 4,018  
12 Total. Add lines 1 through 11........ 1,342,830 1,342,830  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 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 3,900 3,900   0
c Other professional fees (attach schedule).... Click to see attachment 120,117 120,117   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 14,717 1,349   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 291 291   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 139,025 125,657   0
25 Contributions, gifts, grants paid....... 1,240,180 1,240,180
26 Total expenses and disbursements. Add lines 24 and 25 1,379,205 125,657   1,240,180
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -36,375
b Net investment income (if negative, enter -0-) 1,217,173
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......... 609,295 572,790 572,790
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) 209,677 Click to see attachment92,523 93,214
b Investments—corporate stock (attach schedule)....... 5,212,981 Click to see attachment5,012,328 13,016,134
c Investments—corporate bonds (attach schedule)....... 2,447,936 Click to see attachment2,765,921 2,759,238
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 2,248 Click to see attachment2,222 2,222
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment1,552 Click to see attachment1,530 Click to see attachment1,530
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 8,483,689 8,447,314 16,445,128
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 8,483,689 8,447,314
29 Total net assets or fund balances (see instructions)..... 8,483,689 8,447,314
30 Total liabilities and net assets/fund balances (see instructions). 8,483,689 8,447,314
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
8,483,689
2
Enter amount from Part I, line 27a .....................
2
-36,375
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
8,447,314
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
8,447,314
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 ABBOTT LABORATORIES P 2013-10-24 2021-01-12
b ABBOTT LABORATORIES P 2013-10-24 2021-09-07
c ACCENTURE PLC F CLASS A P 2020-04-09 2021-01-12
d ACCENTURE PLC F CLASS A P 2020-04-20 2021-01-12
e AGILENT TECHNOLOGIES P 2015-07-16 2021-01-12
AGILENT TECHNOLOGIES P 2015-07-16 2021-01-12
AGILENT TECHNOLOGIES P 2016-12-14 2021-03-03
AGILENT TECHNOLOGIES P 2016-12-14 2021-03-03
AGILENT TECHNOLOGIES P 2020-01-07 2021-03-05
ALPHABET INC. CLASS A P 2011-09-28 2021-01-12
ALPHABET INC. CLASS C P 2016-12-14 2021-10-01
AMERICAN WATER WORKS P 2016-12-14 2021-01-12
AMERICAN WATER WORKS P 2011-08-05 2021-01-12
AMERIPRISE FINL P 2011-08-05 2021-01-12
AMERIPRISE FINL P 2011-11-14 2021-03-02
AMERIPRISE FINL P 2011-11-14 2021-03-05
AMETEK INC P 2011-11-14 2021-01-12
AMETEK INC P 2018-11-05 2021-01-12
AMGEN INC. P 2019-02-08 2021-01-12
AMGEN INC. P 2018-04-20 2021-01-12
ATMOS ENERGY CORP P 2019-06-06 2021-01-12
BALTIMORE GAS AND 3.5%21 **CALLED** @100 EFF: 08/15/2021 P 2020-12-07 2021-08-15
BLACKROCK INC P 2019-10-16 2021-01-12
BORG WARNER INC P 2019-08-21 2021-01-12
BROADCOM INC P 2012-05-30 2021-01-12
CENTERPOINT ENER 9.15%21 DUE 03/15/21 P 2015-04-06 2021-03-15
CERNER CORP P 2020-12-14 2021-01-12
CHEVRON CORP P 2019-11-21 2021-01-12
CISCO SYSTEMS INC P 2018-10-02 2021-01-12
CITIGROUP INC P 2016-12-14 2021-01-12
CITIGROUP INC P 2015-04-09 2021-01-12
CITIGROUP INC P 2017-08-14 2021-01-12
CONSOLIDATED EDIS VARXXX **MATURED** P 2017-10-23 2021-06-25
CURTISS WRIGHT CORP P 2017-11-30 2021-01-12
CURTISS WRIGHT CORP P 2019-06-03 2021-01-12
CVS HEALTH CORP P 2019-11-04 2021-01-12
CVS HEALTH CORP P 2020-01-07 2021-01-12
D R HORTON CO P 2016-12-14 2021-01-12
DELTA AIR LINES INC DEL P 2018-11-29 2021-01-12
DTE ENERGY CO 3.9%21 **CALLED** @100 EFF: 04/23/2021 P 2020-04-22 2021-04-23
DUKE ENERGY CORP 3.9%21 DUE 06/15/21 P 2020-02-26 2021-06-15
EASTERN ENERGY GA VARXXX **MATURED** P 2019-11-14 2021-06-15
EOG RESOURCES INC P 2019-09-13 2021-01-12
EOG RESOURCES INC P 2019-12-03 2021-01-12
EXELON CORP 1.7XXX **MATURED** P 2019-11-12 2021-09-15
F M C CORP P 2017-02-10 2021-01-12
FACEBOOK INC CLASS A P 2019-06-06 2021-01-12
FACEBOOK INC CLASS A P 2019-09-04 2021-01-12
FIDELITY NATL INFO P 2018-04-05 2021-01-12
FMC CORP 3.95%22 **CALLED** @100 EFF: 12/22/2021 P 2020-02-12 2021-12-22
FNFV GROUP P 2020-02-12 2021-01-12
FNFV GROUP P 2012-10-05 2021-01-12
GENERAL MILLS INC P 2016-07-20 2021-01-12
GLAXOSMITHKLI0.5437% XXX **MATURED** P 2021-07-07 2021-05-14
HASBRO INC P 2018-10-30 2021-01-12
HILL ROM HLDGS INC P 2019-06-05 2021-01-12
HILL ROM HLDGS INC XXX MANDATORY MERGER EFF: 12/13/21 P 2020-12-07 2021-12-14
HOME DEPOT INC P 2021-01-26 2021-01-12
HOME DEPOT INC P 2020-08-21 2021-01-12
INGREDION INC P 2020-07-14 2021-01-12
INGREDION INC P 2020-06-30 2021-02-03
INGREDION INC P 2020-06-30 2021-02-03
INGREDION INC P 2009-03-12 2021-02-03
INGREDION INC P 2016-12-14 2021-02-03
INGREDION INC P 2019-06-06 2021-02-03
ISHARES RUSSELL 1000 GROWTH ETF IV P 2018-11-21 2021-05-06
ISHARES RUSSELL 1000 GROWTH ETF IV P 2013-12-12 2021-05-06
ISHARES RUSSELL 1000 GROWTH ETF IV P 2013-08-30 2021-05-06
ISHARES RUSSELL 1000 GROWTH ETF IV P 2013-12-12 2021-05-06
JOHN DEERE CAPITA 2.3XXX **MATURED** P 2013-12-12 2021-06-07
JOHNSON & JOHNSO 2.45XXX **MATURED** P 2020-03-20 2021-12-05
L3HARRIS TECHNOLOGIES IN P 2018-11-21 2021-01-12
LAB CO OF AMER HLDG P 2010-05-21 2021-01-12
LAB CO OF AMER HLDG P 2014-12-17 2021-09-07
LAB CO OF AMER HLDG P 2009-04-09 2021-09-07
MARSH & MC LENNAN CO P 2009-03-18 2021-01-12
MARTIN MARIETTA MATR P 2019-08-09 2021-01-12
MICHIGAN FIN AU 2.241XXX **MATURED** XTRO TAXBL P 2021-09-01 2021-11-01
MICROSOFT CORP P 2019-05-07 2021-01-12
MICROSOFT CORP P 2019-04-24 2021-10-01
MONDELEZ INTL CLASS A P 2016-04-13 2021-01-12
NJ ST HSG & MTG MF 2XXX **MATURED** TAXBL P 2019-04-24 2021-05-01
OMEGA HLTHCARE INVTS REIT P 2011-01-25 2021-01-12
ORACLE CORP 1.9XXX **MATURED** P 2020-01-07 2021-09-15
PACCAR FINL CORP. 3.1XXX **MATURED** P 2018-08-15 2021-05-10
PFIZER INC P 2020-01-07 2021-01-12
PNC FINL SERVICES P 2021-07-23 2021-01-12
PNC FINL SERVICES P 2009-04-09 2021-01-12
PNC FINL SERVICES P 2009-04-09 2021-03-05
PNC FINL SERVICES P 2018-09-12 2021-03-05
PROCTER & GAMBLE P 2019-12-04 2021-01-12
SEALED AIR CORP P 2020-12-07 2021-01-12
SERVICE CORP INTL P 2019-08-26 2021-01-12
SERVICE CORP INTL P 2019-05-28 2021-02-26
SERVICE CORP INTL P 2010-06-15 2021-02-26
SERVICE CORP INTL P 2014-01-07 2021-02-26
SHELL INTERNTNL1.75% XXX **MATURED** P 2016-12-14 2021-09-12
STRYKER CORP P 2016-12-14 2021-01-12
STRYKER CORP P 2017-11-30 2021-03-02
STRYKER CORP P 2014-09-22 2021-03-02
STRYKER CORP P 2017-01-18 2021-03-05
STRYKER CORP P 2018-06-22 2021-09-07
TARGET CORP P 2020-03-20 2021-01-12
TARGET CORP P 2020-04-20 2021-09-07
TEXAS INSTRUMENTS P 2018-06-22 2021-01-12
THE BANK OF NEW 2.05%21 **CALLED** @100 EFF: 04/05/2021 P 2019-08-29 2021-04-05
THE HERSHEY CO 3.375%23 DUE 05/15/23 P 2011-11-14 2021-10-18
TOYOTA MOTOR CRE 2.95XXX **MATURED** P 2011-11-14 2021-04-13
TRANSUNION P 2011-11-14 2021-01-12
TRUIST FINL CORP VAR 21 **CALLED** @100 EFF: 01/04/2021 P 2011-11-14 2021-01-04
UNION PACIFIC COR 3.2XXX **MATURED** P 2011-11-14 2021-06-08
UNION PACIFIC CORP P 2018-04-12 2021-01-12
UST INFL IDX 0.125%04XXX **MATURED** P 2018-04-12 2021-04-15
VERIZON COMMUNICATN P 2011-09-01 2021-01-12
VERIZON COMMUNICATN P 2019-08-14 2021-01-12
VERIZON COMMUNICATN P 2019-08-12 2021-09-07
VERIZON COMMUNICATN P 2021-08-10 2021-09-07
VERIZON COMMUNICATN P 2019-08-13 2021-09-07
VERIZON COMMUNICATN P 2019-03-25 2021-09-07
VERIZON COMMUNICATN P 2019-05-28 2021-09-07
VIATRIS INC P 2018-08-15 2021-01-12
VIATRIS INC P 2021-04-09 2021-01-12
WASTE CONNECTIONSINC F P 2019-08-23 2021-01-12
WILLIAMS COMPANIES P 2006-05-16 2021-01-12
XYLEM INC. P 2006-07-19 2021-01-08
XYLEM INC. P 2008-10-13 2021-01-12
XYLEM INC. P 2009-03-12 2021-01-25
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 11,052   3,735 7,317
b 16,662   4,855 11,807
c 7,543   5,075 2,468
d 2,861   1,954 907
e 17,837   11,839 5,998
1,412   511 901
19,340   6,498 12,842
7,087   2,743 4,344
20,206   7,104 13,102
17,453   2,679 14,774
13,682   3,996 9,686
6,114   2,047 4,067
3,292   580 2,712
16,167   3,725 12,442
26,235   5,354 20,881
21,622   4,516 17,106
24,193   14,692 9,501
620   365 255
6,165   4,560 1,605
3,320   2,410 910
9,625   10,751 -1,126
100,000   100,310 -310
7,635   1,712 5,923
10,182   15,566 -5,384
22,388   20,369 2,019
96,000   96,000 0
6,303   5,136 1,167
6,486   8,213 -1,727
9,062   5,511 3,551
7,761   8,483 -722
2,497   2,518 -21
1,890   2,116 -226
30,000   30,000 0
9,081   11,150 -2,069
2,713   3,234 -521
11,254   11,946 -692
3,954   4,164 -210
9,549   5,456 4,093
5,556   7,171 -1,615
103,000   103,161 -161
62,000   62,000 0
100,000   100,000 0
3,217   5,354 -2,137
2,853   3,944 -1,091
100,000   99,741 259
11,916   6,809 5,107
8,981   6,272 2,709
1,283   1,071 212
12,245   6,991 5,254
100,000   100,218 -218
10,278   8,742 1,536
3,774   4,276 -502
5,545   4,553 992
100,000   100,000 0
10,670   9,945 725
6,942   6,943 -1
102,648   69,153 33,495
13,013   958 12,055
3,253   1,642 1,611
6,380   8,352 -1,972
17,854   17,396 458
9,091   7,346 1,745
8,190   6,295 1,895
7,944   6,456 1,488
3,030   2,449 581
252,074   34,668 217,406
126,037   18,799 107,238
119,735   44,634 75,101
6,302   1,204 5,098
95,000   95,000 0
50,000   50,000 0
12,814   12,386 428
13,020   9,233 3,787
13,362   5,210 8,152
9,414   4,771 4,643
11,247   2,800 8,447
15,503   13,935 1,568
100,000   100,000 0
12,993   1,176 11,817
14,442   980 13,462
8,602   6,494 2,108
100,000   100,000 0
11,305   12,003 -698
100,000   99,996 4
93,000   93,000 0
7,534   2,904 4,630
9,338   6,631 2,707
8,372   7,325 1,047
20,622   9,128 11,494
8,214   5,373 2,841
8,271   5,074 3,197
8,364   8,673 -309
9,524   6,906 2,618
48,836   36,746 12,090
9,999   8,135 1,864
8,695   6,573 2,122
100,000   99,715 285
7,210   1,471 5,739
15,943   3,186 12,757
9,860   1,961 7,899
9,234   1,912 7,322
32,340   5,686 26,654
19,617   7,291 12,326
19,456   5,833 13,623
6,851   1,036 5,815
109,000   109,001 -1
78,227   78,354 -127
100,000   100,000 0
7,477   5,192 2,285
94,000   93,916 84
120,000   120,000 0
13,023   8,903 4,120
110,651   110,651 0
6,471   5,548 923
1,546   1,413 133
16,459   7,600 8,859
16,459   7,799 8,660
9,876   5,166 4,710
7,791   6,971 820
5,486   2,847 2,639
2,563   894 1,669
1,301   993 308
10,361   4,377 5,984
9,344   12,094 -2,750
22,503   7,281 15,222
6,374   2,080 4,294
43,153   14,874 28,279
261,386     261,386
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       7,317
b       11,807
c       2,468
d       907
e       5,998
      901
      12,842
      4,344
      13,102
      14,774
      9,686
      4,067
      2,712
      12,442
      20,881
      17,106
      9,501
      255
      1,605
      910
      -1,126
      -310
      5,923
      -5,384
      2,019
      0
      1,167
      -1,727
      3,551
      -722
      -21
      -226
      0
      -2,069
      -521
      -692
      -210
      4,093
      -1,615
      -161
      0
      0
      -2,137
      -1,091
      259
      5,107
      2,709
      212
      5,254
      -218
      1,536
      -502
      992
      0
      725
      -1
      33,495
      12,055
      1,611
      -1,972
      458
      1,745
      1,895
      1,488
      581
      217,406
      107,238
      75,101
      5,098
      0
      0
      428
      3,787
      8,152
      4,643
      8,447
      1,568
      0
      11,817
      13,462
      2,108
      0
      -698
      4
      0
      4,630
      2,707
      1,047
      11,494
      2,841
      3,197
      -309
      2,618
      12,090
      1,864
      2,122
      285
      5,739
      12,757
      7,899
      7,322
      26,654
      12,326
      13,623
      5,815
      -1
      -127
      0
      2,285
      84
      0
      4,120
      0
      923
      133
      8,859
      8,660
      4,710
      820
      2,639
      1,669
      308
      5,984
      -2,750
      15,222
      4,294
      28,279
      261,386
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 1,162,574
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 16,919
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 16,919
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 16,821
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 29,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 45,821
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 1
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 28,901
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet28,901 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 changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
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)
    bulletPA, DE
    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 addressbulletN/A
    14
    The books are in care ofbulletJANE LEONARD KORMAN FAMILY FDN Telephone no.bullet (215) 244-5159

    Located atbulletTWO NESHAMINY INTERPLEX SUITE 305TREVOSEPA ZIP+4bullet19053
    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)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (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
     
     
    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)
     
    No
    (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
     
     
    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
     
     
    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? .............................
    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
    LEONARD KORMAN PRESIDENT
    5.00     		0 0 0
    TWO NESHAMINY INTERPLEX SUITE 305
    TREVOSE,PA19053
    ALISON KORMAN FELDMAN DIRECTOR
    5.00     		0 0 0
    TWO NESHAMINY INTERPLEX SUITE 305
    TREVOSE,PA19053
    SUSAN KORMAN SCHURR DIRECTOR
    5.00     		0 0 0
    TWO NESHAMINY INTERPLEX SUITE 305
    TREVOSE,PA19053
    CATHERINE KORMAN ALTMAN DIRECTOR
    5.00     		0 0 0
    TWO NESHAMINY INTERPLEX SUITE 305
    TREVOSE,PA19053
    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 (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
    NONE
    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
    14,929,470
    b
    Average of monthly cash balances.......................
    1b
    1,047,056
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    15,976,526
    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
    15,976,526
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    239,648
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    15,736,878
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    786,844
    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
    786,844
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    16,919
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    16,919
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    769,925
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    769,925
    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
    769,925
    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 7 769,925
    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...... 1,870,149
    b From 2017...... 1,323,585
    c From 2018...... 1,427,586
    d From 2019...... 1,340,691
    e From 2020...... 1,431,252
    f Total of lines 3a through e ........ 7,393,263
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 1,240,180
    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..... 769,925
    e Remaining amount distributed out of corpus 470,255
    5 Excess distributions carryover applied to 2021. 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 7,863,518
    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) ...     		1,870,149
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		5,993,369
    10 Analysis of line 9:
    a Excess from 2017.... 1,323,585
    b Excess from 2018.... 1,427,586
    c Excess from 2019.... 1,340,691
    d Excess from 2020.... 1,431,252
    e Excess from 2021.... 470,255
    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).)
    LEONARD KORMAN
    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
    ABRAMSONS CANCER CENTERPHILLY FIGHT CANCER
    U OF PA 3400 CIVIC CTR BLVD 2ND FL
    PHILADELPHIA,PA19104     		  PC HELP UNIVERSITY OF PENN ADVANCE ITS POSITION AS LEADING ACADEMIC, RESEARCH AND SERVICE INSTITUTION. 5,000
    ADMIRALS COVE FDN
    200 ADMIRALS COVE
    JUPITER,FL33477     		  PC HELP AC IMPROVE LIVES IN THE AREAS OF EDUCATION, HEALTH AND SOCIAL SERVICES. 2,000
    AEMC - ALBERT EINSTEIN MEDICAL CENTER
    5501 OLD YORK ROAD
    PHILADELPHIA,PA19141     		  PC ASSIST AEMC CONCEIVE AND IMPLEMENT RESEARCH INITIATIVES AND PROGRAMS TO POSITIVELY IMPACT PATIENT CARE. 25,000
    AFMDA-AMERICAN FRIENDS OF MAGEN DAVID ADOM
    352 7TH AVE
    NY,NY10001     		  PC SAVING LIVES IN ISRAEL SUPPORTING MDA AS ISRAELS NAT'L EMERGENCY MEDICAL SERVICE & GUARDIAN OF BLOOD SUPPLY. 6,000
    ASSOC OF ISRAELS DECORATIVE ARTS (AIDA)
    100 WORTH AVENUE
    PALM BEACH,FL33480     		  PC SUPPORT AIDA IN HELPING FOSTER THE DEVELOPMENT OF CONTEMPORARY ARTISTS FROM ISRAEL. 5,000
    BARNES FOUNDATION
    2025 BENJAMIN FRANKLIN PKWY
    PHILADELPHIA,PA19130     		  PC HELP PROMOTE ADVANCEMENT OF EDUCATION & APPRECIATION OF FINE ARTS & HORTICULTURE. 15,000
    BEYOND CELIAC (FORMERLY NFCA)
    PO BOX 544
    AMBLER,PA19002     		  PC SUPPORT NFCA IN QUEST FOR BETTER RESEARCH, DIAGNOSIS, TREATMENT & CURE FOR THOSE LIVING WITH CELIAC DISEASE. 2,500
    COMMUNITY PARTNERSHIP SCHOOL
    3033 W GLENWOOD AVE
    PHILADELPHIA,PA19121     		  PC SUPPORT THE MISSION OF PROVIDING HIGH QUALITY, AFFORDABLE SCHOOL ALTERNATIVE FOR CHILDREN OF PHILALEDELPHIA 5,000
    CONGREGATION BETH OR
    239 WELSH RD
    AMBLER,PA19002     		  PC SUPPORT THE MISSION OF THE REFORM JEWISH SYNAGOGUE. 10,000
    FABRIC WORKSHOP
    1214 ARCH STREET
    PHILADELPHIA,PA19107     		  PC SUPPORT THE ADVANCEMENT OF THE ARTS 5,000
    GEORGE BUSH FOUNDATION
    2943 SMU BLVD
    DALLAS,TX75205     		  PC SUPPORT TO EDUCATIONAL MISSION OF THE FOUNDATION. 5,000
    GERMANTOWN ACADEMY- ANNUAL FUND
    PO BOX 287
    FORT WASHINGTON,PA19034     		  PC SUPPORT THE EDUCATIONAL MISSION OF THE ACADEMY. 3,500
    JEFFERSON HOSPITAL
    925 CHESTNUT STREET 110
    PHILADELPHIA,PA19107     		  PC SUPPORT THE HOSPITAL SO THEY CAN PROVIDE THE BEST PATIENT CARE. 48,500
    JEFFERSON UNIVERSITY -RESPIRATORY CENTER - 4TH OF 7 (MULTI YEAR)
    925 CHESTNUT STREET 110
    PHILADELPHIA,PA19107     		  PC SUPPORT THE HOSPITAL SO THEY CAN PROVIDE THE BEST PATIENT CARE. 500,000
    JUPITER MEDICAL CENTER FOUNDATION
    1210 SOUTH OLD DIXIE HIGHWAY
    JUPITER,FL33458     		  PC SUPPORT THE HOSPITAL SO THEY CAN PROVIDE THE BEST PATIENT CARE. 5,000
    MALTZ JUPITER THEATRE -ANNUAL
    1001 E INDIANTOWN RD
    JUPITER,FL33477     		  PC SUPPORT THE THEATRE ARTS. 7,000
    NORTON MUSEUM OF ART- FINAL PLEDGE (MULTI YEAR)
    1451 S OLIVE AVENUE
    WEST PALM BEACH,FL33401     		  PC SUPPORT MUSEUM IN ITS GOAL TO PRESERVE, COLLECT, EXHIBIT, AND INTERPRET ART AS WELL AS EDUCATE THE COMMUNITY 500,000
    NORTON MUSEUM OF ART- MISC
    1451 S OLIVE AVENUE
    WEST PALM BEACH,FL33401     		  PC SUPPORT MUSEUM IN ITS GOAL TO PRESERVE, COLLECT, EXHIBIT, AND INTERPRET ART AS WELL AS EDUCATE THE COMMUNITY 25,000
    PHILADELPHIA MUSEUM OF ART
    PO BOX 7646
    PHILADELPHIA,PA19101     		  PC HELP MUSEUM IN ITS EFFORTS TO PRESERVE, ENHANCE, INTERPRET, AND EXTEND THE REACH OF VISUAL ARTS AS A SOURCE OF EDUCATION. 23,000
    PLANNED PARENTHOOD - PALM BEACH
    931 VILLAGE BLVD
    PALM BEACH,FL33409     		  PC SUPPORT THE MISSION TO PROVIDE EDUCATION, PROMOTE RESEARCH AND ADVANCEMENT OF TECHNOLOGY. 15,000
    REFORM CONGREGATION KI-HAZAK
    8339 OLD YORK RD
    ELKINS PARK,PA19027     		  PC SUPPORT THE MISSION OF THE SYNAGOGUE. 22,500
    TEMPLE JUDEA
    4311 HOOD RD
    PALM BEACH,FL33410     		  PC SUPPORT THE MISSION OF THE SYNAGOGUESUPPORT THE MISSION OF THE SYNAGOGUE 180
    WHITEMARSH FOUNDATION
    BOX 538
    LAFAYETTE HILL,PA19444     		  PC SUPPORT CONSERVATION AND STEWARDSHIP OF OPEN SPACE. PROMOTE AWARENESS OF, ADVOCACY FOR, EDUCATION ABOUT & ACCESS TO PRESERVED AND CONSERVED LAND. 5,000
    Total .................................bullet 3a 1,240,180
    bApproved for future payment
    Total .................................bullet 3b 0
    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 25,488  
    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 ............     		    18 1,162,574  
    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 1,342,830 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,342,830
    (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:
    JANE & LEONARD KORMAN FAMILY FOUNDATION
    EIN:
    20-4253701
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 3,900 3,900   0

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    JANE & LEONARD KORMAN FAMILY FOUNDATION
    EIN:
    20-4253701
    Name of Bond End of Year Book Value End of Year Fair Market Value
    CORPORATE BONDS 2,765,921 2,759,238

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    JANE & LEONARD KORMAN FAMILY FOUNDATION
    EIN:
    20-4253701
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CORPORATE STOCK 5,012,328 13,016,134

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    JANE & LEONARD KORMAN FAMILY FOUNDATION
    EIN:
    20-4253701
    US Government Securities - End of Year Book Value:

    92,523
    US Government Securities - End of Year Fair Market Value:

    93,214
    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:
    JANE & LEONARD KORMAN FAMILY FOUNDATION
    EIN:
    20-4253701
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SILVERCREST MARKET NEUTRAL FUND AT COST 2,222 2,222

    TY 2021 OtherAssetsSchedule
    Name:
    JANE & LEONARD KORMAN FAMILY FOUNDATION
    EIN:
    20-4253701
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    EQUITY DIVIDENDS RECEIVABLE 1,552 1,530 1,530


    TY 2021 OtherExpensesSchedule
    Name:
    JANE & LEONARD KORMAN FAMILY FOUNDATION
    EIN:
    20-4253701
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MISCELLANEOUS FEES 291 291   0


    TY 2021 OtherIncomeSchedule2
    Name:
    JANE & LEONARD KORMAN FAMILY FOUNDATION
    EIN:
    20-4253701
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    NONDIVIDEND DISTRIBUTIONS - CHARLES SCHWAB 7410 4,018 4,018 4,018


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    JANE & LEONARD KORMAN FAMILY FOUNDATION
    EIN:
    20-4253701
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADMIN FEES 120,117 120,117   0


    TY 2021 TaxesSchedule
    Name:
    JANE & LEONARD KORMAN FAMILY FOUNDATION
    EIN:
    20-4253701
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE INCOME TAX 81 81   0
    FOREIGN INCOME TAX 1,268 1,268   0
    FEDERAL INCOME TAX 13,368 0   0