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
SMALLEY FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 1088
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MANHASSET, NY110309710
A Employer identification number

13-6225947
B Telephone number (see instructions)

(516) 528-3899
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$42,111,482J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 290,274 290,274  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 833,921
b Gross sales price for all assets on line 6a 6,349,432
7 Capital gain net income (from Part IV, line 2)... 833,921
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 34,236 75  
12 Total. Add lines 1 through 11........ 1,158,431 1,124,270  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 235,160 0   235,160
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 2,934 0   2,934
b Accounting fees (attach schedule)....... Click to see attachment 10,750 0   10,750
c Other professional fees (attach schedule).... Click to see attachment 185,819 185,819   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 13,043 0   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 41,222 0   41,222
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 488,928 185,819   290,066
25 Contributions, gifts, grants paid....... 2,105,019 2,105,019
26 Total expenses and disbursements. Add lines 24 and 25 2,593,947 185,819   2,395,085
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,435,516
b Net investment income (if negative, enter -0-) 938,451
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............. 6,679 4,057 4,057
2 Savings and temporary cash investments......... 436,666 254,235 254,235
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) 2,153,341 Click to see attachment2,223,918 2,223,918
b Investments—corporate stock (attach schedule)....... 25,584,162 Click to see attachment30,723,677 30,723,677
c Investments—corporate bonds (attach schedule)....... 2,841,967 Click to see attachment2,834,050 2,834,050
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 6,263,110 Click to see attachment6,023,544 6,023,544
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment53,809 Click to see attachment48,001 Click to see attachment48,001
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 37,339,734 42,111,482 42,111,482
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 attachment181,057 Click to see attachment267,338
23 Total liabilities (add lines 17 through 22)......... 181,057 267,338
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........... 37,158,677 41,844,144
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)..... 37,158,677 41,844,144
30 Total liabilities and net assets/fund balances (see instructions). 37,339,734 42,111,482
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
37,158,677
2
Enter amount from Part I, line 27a .....................
2
-1,435,516
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
6,207,264
4
Add lines 1, 2, and 3 ..........................
4
41,930,425
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
86,281
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
41,844,144
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 P    
b
c
d
e
(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 6,349,432   5,515,511 833,921
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       833,921
b
c
d
e
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 2 833,921
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 13,044
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 13,044
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 19,430
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 5,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 24,430
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 11,386
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet11,386 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)
    bulletNY
    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 ofbulletMARIE ESLINGER Telephone no.bullet (516) 528-3899

    Located atbulletPO BOX 1088MANHASSETNY ZIP+4bullet110309710
    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)
    Yes
     
    (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
     
    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
     
     
    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
    MARIE ESLINGER DIRECTOR, PRESIDENT
    20.00     		139,500 0 0
    PO BOX 1088
    MANHASSET,NY110309710
    CONSTANTINE KREATSOULAS DIRECTOR, VICE PRESIDENT
    5.00     		15,000 0 0
    PO BOX 1088
    MANHASSET,NY110309710
    MARTIN SAIMAN DIRECTOR, TREASURER
    5.00     		15,000 0 0
    PO BOX 1088
    MANHASSET,NY110309710
    CYNTHIA SIDERMAN DIRECTOR
    5.00     		15,000 0 0
    PO BOX 1088
    MANHASSET,NY110309710
    CATHY CAAMANO DIRECTOR
    5.00     		50,660 0 0
    PO BOX 1088
    MANHASSET,NY110309710
    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
    BANK OF AMERICA INVESTMENT MANAGEMENT 185,819
    PRIVATE BANK TRUST OPS PO BOX
    830269
    DALLAS,TX75283
    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 THE SMALLEY FOUNDATION, INC. (THE "FOUNDATION") AWARDS COLLEGE SCHOLARSHIPS TO DESERVING PUBLIC HIGH SCHOOL SENIORS WHO NEED FINANCIAL AID TO ATTEND COLLEGE. THE PAYMENTS ARE MADE DIRECTLY TO THE COLLEGE FOR TUITION, FEES, BOOKS, ROOM AND BOARD AND RELATED EXPENSES. THE COLLEGE IS AUTHORIZED IN CERTAIN CASES TO TURN A PORTION OF THE FUNDS OVER TO THE GRANTEE FOR THE PURCHASE OF BOOKS, SUPPLIES AND OTHER RELATED EXPENSES. CANDIDATES FOR AWARDS ARE NOMINATED ANNUALLY BY THE BOARD OF EDUCATION (OR COMPARABLE ADMINISTRATIVE AGENCIES) OF COMMUNITIES. THE DIRECTORS OF THE FOUNDATION SELECT GRANTEES FROM THE LIST OF NOMINEES ON THE BASIS OF THE FOLLOWING CRITERIA: 1) PERFORMANCE IN EXAMINATIONS SHOWING ABILITY AND APTITUDE FOR COLLEGE WORK, 2) RECOMMENDATION FROM SCHOOL PERSONNEL, 3) FINANCIAL NEED, AND 4) PRIOR ACADEMIC PERFORMANCE. DURING 2021, THE FOUNDATION DISBURSED $1,880,019 IN SCHOLARSHIPS FOR 110 INDIVIDUAL STUDENTS. 128,540
    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
    39,165,829
    b
    Average of monthly cash balances.......................
    1b
    541,482
    c
    Fair market value of all other assets (see instructions)................
    1c
    36,615
    d
    Total (add lines 1a, b, and c).........................
    1d
    39,743,926
    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
    39,743,926
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    596,159
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    39,147,767
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    1,957,388
    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
    1,957,388
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    13,044
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    13,044
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,944,344
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    34,161
    5
    Add lines 3 and 4............................
    5
    1,978,505
    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
    1,978,505
    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 1,978,505
    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......  
    c From 2018...... 220,377
    d From 2019...... 4,736
    e From 2020...... 237,561
    f Total of lines 3a through e ........ 462,674
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 2,395,085
    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..... 1,978,505
    e Remaining amount distributed out of corpus 416,580
    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 5 879,254
    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 ......     		879,254
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018.... 220,377
    c Excess from 2019.... 4,736
    d Excess from 2020.... 237,561
    e Excess from 2021.... 416,580
    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).)
    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
    AMERICAN UNIVERSITY ITF SARA GACE
    4400 MASSACHUSETTS AVE NW
    WASHINGTON,DC20016     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    BARUCH COLLEGE ITF KOLE MOHAMMED
    55 LEXINGTON AVE
    NEW YORK,NY10010     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    BARUCH COLLEGE ITF MARIA SAZAZAR
    55 LEXINGTON AVE
    NEW YORK,NY10010     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 10,000
    BOSTON COLLEGE ITF JUSTIN HALLET
    140 COMMONWEALTH AVENUE
    CHESTNUT HILL,MA02467     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 20,000
    BOSTON COLLEGE ITF NANA BUDU
    140 COMMONWEALTH AVENUE
    CHESTNUT HILL,MA02467     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 50,000
    BOSTON UNIVERSITY ITF SHEILA POKUA
    881 COMMONWEALTH AVE 4TH FL
    BOSTON,MA02215     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,712
    BRANDEIS UNIVERSITY ITF ANNITAH NAK
    415 SOUTH ST
    WALTHAM,MA02453     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,077
    BRANDEIS UNIVERSITY ITF EMMA BLACK
    415 SOUTH ST
    WALTHAM,MA02453     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 20,000
    BRANDEIS UNIVERSITY ITF JACQUELINE
    415 SOUTH ST
    WALTHAM,MA02453     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 10,000
    BRYN MAWR COLLEGE ITF WINNIE NUIRU
    101 N MERION AVE
    BRYN MAWR,PA19010     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    CITY COLLEGE OF NEW YORK ITF SUMMER
    160 CONVENT AVE
    NEW YORK,NY10031     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 15,506
    CLARK UNIVERSITY ITF BLERINA ILJAS
    950 MAIN ST
    WORCESTER,MA01610     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 22,898
    COLLEGE OF MOUNT SAINT VINCENT ITF
    6301 RIVERDALE AVE
    BRONX,NY10471     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    COLLEGE OF THE HOLY CROSS ITF ANAST
    1 COLLEGE ST
    WORCESTER,MA01610     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 20,000
    COLLEGE OF THE HOLY CROSS ITF HAIK
    1 COLLEGE ST
    WORCESTER,MA01610     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    COLLEGE OF THE HOLY CROSS ITF KEVIN
    1 COLLEGE ST
    WORCESTER,MA01610     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    COLLEGE OF THE HOLY CROSS ITF NAKES
    1 COLLEGE ST
    WORCESTER,MA01610     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    COLUMBIA UNIVERSITY
    116TH ST BROADWAY
    NEW YORK,NY10027     		N/A PC ENDOWMENT 25,000
    COLUMBIA UNIVERSITY ITF DARIEL ESPI
    116TH ST BROADWAY
    NEW YORK,NY10027     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 7,000
    DELAWARE STATE UNIVERSITY ITF TAYLO
    1200 N DUPONT HWY
    DOVER,DE19901     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    DREXEL UNIVERSITY ITF JESSICA ABU
    3141 CHESTNUT ST
    PHILADELPHIA,PA19104     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    FASHION INSTITUTE OF TECHNOLOGY ITF
    227 W 27TH ST
    NEW YORK,NY10001     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    FLORIDA INTERNATIONAL UNIVERSITY IT
    11200 SW 8TH ST
    MIAMI,FL33199     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    FORDHAM UNIVERSITY ITF ESHA HAFEEZ
    441 E FORDHAM ROAD
    BRONX,NY10458     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 50,000
    HARVARD UNIVERSITY ITF DENI HOXHA
    MASSACHUSETTS HALL
    CAMBRIDGE,MA02138     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 6,800
    HARVARD UNIVERSITY ITF ELSIE FUAKYE
    MASSACHUSETTS HALL
    CAMBRIDGE,MA02138     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 20,000
    HARVARD UNIVERSITY ITF GIA HAN LE
    MASSACHUSETTS HALL
    CAMBRIDGE,MA02138     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 4,496
    HARVARD UNIVERSITY ITF KAYLA SMITH
    MASSACHUSETTS HALL
    CAMBRIDGE,MA02138     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    HARVARD UNIVERSITY ITF PRISCILLA OB
    MASSACHUSETTS HALL
    CAMBRIDGE,MA02138     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    HOBART AND WILLIAM SMITH COLLEGES I
    300 PULTENEY ST
    GENEVA,NY14456     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 26,799
    HOFSTRA UNIVERSITY ITF SETH MOODY
    1000 HEMPSTEAD TURNPIKE
    HEMPSTEAD,NY11549     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    HUNTER COLLEGE ITF GEORGE ANALJI
    695 PARK AVE
    NEW YORK,NY10065     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 10,000
    IONA COLLEGE ITF ANGELA CALDERON
    715 NORTH AVENUE
    NEW ROCHELLE,NY10801     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    IONA COLLEGE ITF BRIANA MICLAT
    715 NORTH AVENUE
    NEW ROCHELLE,NY10801     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 20,000
    IONA COLLEGE ITF ELA HOXHAJ
    715 NORTH AVENUE
    NEW ROCHELLE,NY10801     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 14,079
    JOHN JAY COLLEGE OF CRIMINAL JUSTIC
    24 W 59TH ST
    NEW YORK,NY10019     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 10,000
    LEHIGH UNIVERSITY ITF JILLIAN TAMAR
    27 MEMORIAL DR W
    BETHLEHEM,PA18015     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 15,000
    LEHMAN COLLEGE ITF CHRISTOPHER O'BU
    250 BEDFORD PARK BLVD W
    BRONX,NY10468     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 6,000
    LEHMAN COLLEGE ITF DANIEL NEWTON
    250 BEDFORD PARK BLVD W
    BRONX,NY10468     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 10,000
    LEHMAN COLLEGE ITF NIKITA VARGHESE
    250 BEDFORD PARK BLVD W
    BRONX,NY10468     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 5,000
    LEHMAN COLLEGE ITF OBUWATINLEHN AKI
    250 BEDFORD PARK BLVD W
    BRONX,NY10468     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 10,000
    MANHATTAN COLLEGE ITF HECTOR MORA
    4513 MANHATTAN COLLEGE PKWY
    BRONX,NY10471     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    MANHATTANVILLE COLLEGE ITF COURTNEY
    2900 PURCHASE ST
    PURCHASE,NY10577     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    MANHATTANVILLE COLLEGE ITF JOHN ANJ
    2900 PURCHASE ST
    PURCHASE,NY10577     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    MANHATTANVILLE COLLEGE ITF LARISSA
    2900 PURCHASE ST
    PURCHASE,NY10577     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    MASSACHUSETTS COLLEGE OF ART AND DE
    621 HUNTINGTON AVE
    BOSTON,MA02115     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    NEW YORK INSTITUTE OF TECHNOLOGY IT
    1855 BROADWAY
    NEW YORK,NY10023     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    NEW YORK UNIVERSITY
    25 WEST 4TH STREET
    NEW YORK,NY10012     		N/A PC ENDOWMENT 25,000
    NEW YORK UNIVERSITY ITF CINDY MATA
    25 WEST 4TH STREET
    NEW YORK,NY10012     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 9,000
    NEW YORK UNIVERSITY ITF FORBES SHEM
    25 WEST 4TH STREET
    NEW YORK,NY10012     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 50,000
    NEW YORK UNIVERSITY ITF ITF DIAMOND
    25 WEST 4TH STREET
    NEW YORK,NY10012     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 10,000
    NEW YORK UNIVERSITY ITF JOEL MENDOZ
    25 WEST 4TH STREET
    NEW YORK,NY10012     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 50,000
    NORTHEASTERN UNIVERSITY
    360 HUNTINGTON AVE
    BOSTON,MA02115     		N/A PC ENDOWMENT 50,000
    NORTHEASTERN UNIVERSITY ITF MABI MO
    360 HUNTINGTON AVE
    BOSTON,MA02115     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    NORTHEASTERN UNIVERSITY ITF VALERIE
    360 HUNTINGTON AVE
    BOSTON,MA02115     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    PACE UNIVERSITY ITF EMMA MERNACL
    ONE PACE PLAZA
    NEW YORK,NY10038     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    PRINCETON UNIVERSITY ITF SOKOL HOXH
    701 CARNEGIE CENTER SUITE 445
    PRINCETON,NJ08540     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 20,000
    QUEENS COLLEGE ITF GABRIELLA WALRAT
    65-30 KISSENA BLVD
    QUEENS,NY11367     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 194
    RENSSELAER POLYTECHNIC INSTITUTE IT
    110 EIGHTH STREET
    TROY,NY12180     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 46,987
    SALEM STATE UNIVERSITY ITF EMELINE
    352 LAFAYETTE ST
    SALEM,MA01970     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    SARAH LAWRENCE COLLEGE ITF JAYLENE
    1 MEAD WAY
    BRONXVILLE,NY10708     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    SCHOOL OF VISUAL ARTS ITF KARIZMA R
    209 E 23RD ST
    NEW YORK,NY10010     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    SKIDMORE COLLEGE ITF OPEYEMI MAJIYA
    815 N BROADWAY
    SARATOGA SPRINGS,NY12866     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    STATE UNIVERSITY OF NEW YORK AT BIN
    96 CORLISS AVE
    JOHNSON CITY,NY13790     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 15,000
    STATE UNIVERSITY OF NEW YORK AT NEW
    1 HAWK DR
    NEW PALTZ,NY12561     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    STATE UNIVERSITY OF NEW YORK AT NEW
    1 HAWK DRIVE
    NEW PALTZ,NY12561     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    STATE UNIVERSITY OF NEW YORK AT STO
    100 NICOLLS RD
    STONY BROOK,NY11794     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    STATE UNIVERSITY OF NEW YORK AT STO
    100 NICOLLS RD
    STONY BROOK,NY11794     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    SUNY MARITIME COLLEGE ITF RAMEZ DAB
    6 PENNYFIELD AVE
    BRONX,NY10465     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 5,000
    UNIVERSITY OF ARIZONA ITF CELIA GER
    TUCSON
    TUCSON,AZ85721     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 50,000
    UNIVERSITY OF CENTRAL FLORIDA ITF A
    4000 CENTRAL FLORIDA BLVD
    ORLANDO,FL32816     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    UNIVERSITY OF MASSACHUSETTS AMHERST
    134 HICKS WAY
    AMHERST,MA01003     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 2,938
    UNIVERSITY OF MASSACHUSETTS AMHERST
    134 HICKS WAY
    AMHERST,MA01003     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    UNIVERSITY OF MASSACHUSETTS AMHERST
    134 HICKS WAY
    AMHERST,MA01003     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    UNIVERSITY OF NEW HAVEN ITF GAREN J
    300 BOSTON POST ROAD
    WEST HAVEN,CT06516     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    UNIVERSITY OF ROCHESTER ITF BRIAN G
    500 JOSEPH C WILSON BLVD
    ROCHESTER,NY14627     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    WELLESLEY COLLEGE
    106 CENTRAL ST
    WELLESLEY,MA02481     		N/A PC ENDOWMENT 125,000
    WESLEYAN UNIVERSITY ITF VANESSA MUN
    45 WYLLYS AVE
    MIDDLETOWN,CT06459     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 10,000
    WESTFIELD STATE UNIVERSITY ITF RAYN
    577 WESTERN AVE
    WESTFIELD,MA01086     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 20,000
    WORCESTER POLYTECHNIC INSTITUTE ITF
    100 INSTITUTE RD
    WORCESTER,MA01609     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    WORCESTER POLYTECHNIC INSTITUTE ITF
    100 INSTITUTE RD
    WORCESTER,MA01609     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    WORCESTER POLYTECHNIC INSTITUTE ITF
    100 INSTITUTE RD
    WORCESTER,MA01609     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    WORCESTER POLYTECHNIC INSTITUTE ITF
    100 INSTITUTE RD
    WORCESTER,MA01609     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 5,000
    WORCESTER POLYTECHNIC INSTITUTE ITF
    100 INSTITUTE RD
    WORCESTER,MA01609     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    WORCESTER POLYTECHNIC INSTITUTE ITF
    100 INSTITUTE RD
    WORCESTER,MA01609     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 20,000
    WORCESTER POLYTECHNIC INSTITUTE ITF
    100 INSTITUTE RD
    WORCESTER,MA01609     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 4,000
    WORCESTER POLYTECHNIC INSTITUTE ITF
    100 INSTITUTE RD
    WORCESTER,MA01609     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    WORCESTER POLYTECHNIC INSTITUTE ITF
    100 INSTITUTE RD
    WORCESTER,MA01609     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    WORCESTER POLYTECHNIC INSTITUTE ITF
    100 INSTITUTE RD
    WORCESTER,MA01609     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 25,000
    WORCESTER STATE UNIVERSITY ITF KASS
    486 CHANDLER ST
    WORCESTER,MA01602     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 17,533
    YALE UNIVERSITY ITF PHUC DUONG
    NEW HAVEN
    NEW HAVEN,CT06520     		NONE I SCHOLARSHIP PROGRAM: SCHOLARSHIP 10,000
    Total .................................bullet 3a 2,105,019
    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 ...........     		         
    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 ............     		    18 833,921  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aGRANT RECOVERY     		    01 34,161  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 1,158,431 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,158,431
    (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:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION SERVICES 10,750 0   10,750

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ABBVIE INC 3.200% MAY 14 2026 (00287YAY5) 90,000.000 QUANTITY 95,448 95,448
    AERCAP IRELAND CAP/GLOB 3.300% JAN 30 2032 (00774MAX3) 115,000.000 QUANTITY 117,392 117,392
    AMERICREDIT AUTO REC TR 3.130% FEB 18 2025 (03066GAE9) 131,000.000 QUANTITY 131,901 131,901
    ANHEUSER-BUSCH INBEV CO 3.500% JUN 01 2030 (035240AV2) 100,000.000 QUANTITY 109,713 109,713
    ANTHEM INC 2.550% MAR 15 2031 (036752AP8) 45,000.000 QUANTITY 45,994 45,994
    AT&T INC UNSEC SR GBL NT 1.650% FEB 01 2028 (00206RKG6) 100,000.000 QUANTITY 97,963 97,963
    BANK MONTREAL UNSECD 2.500% JUN 28 2024 (06367WMQ3) 120,000.000 QUANTITY 123,773 123,773
    BK OF NOVA SCOTIA UNSEC 1.350% JUN 23 2023 (0641594A1) 115,000.000 QUANTITY 113,699 113,699
    CREDIT SUISSE GP FDG GUE 3.800% JUN 09 2023 (225433AT8) 90,000.000 QUANTITY 93,253 93,253
    CVS HEALTH CORP UNSECD 4.300% MAR 25 2028 (126650CX6) 1,000.000 QUANTITY 1,123 1,123
    ENERGY TR OPER LP UNS SR 3.750% MAY 15 2030 (29278NAQ6) 100,000.000 QUANTITY 106,068 106,068
    ENTERPRISE PROD OPER CO 3.125% JUL 31 2029 (29379VBV4) 80,000.000 QUANTITY 85,029 85,029
    GEN MTRS FINL CO IN UN SR 2.700% AUG 20 2027 (37045DA1) 41,000.000 QUANTITY 41,731 41,731
    GENERAL MTRS CO SR UN NT 5.000% OCT 01 2028 (37045VAS9) 15,000.000 QUANTITY 17,213 17,213
    GENERAL MTRS CO UNSECD SR 6.800% OCT 01 2027 (37045VAU4) 29,000.000 QUANTITY 35,618 35,618
    GOLDMAN SACHS GP IN UN SR 3.500% APR 01 2025 (38141GXJ8) 11,000.000 QUANTITY 11,635 11,635
    GOLDMAN SACHS GP IN UN SR 3.850% JAN 26 2027 (38141GWB6) 70,000.000 QUANTITY 75,271 75,271
    HONDA AUTO REC 2019-1 OWN 2.900% JUN 18 2024 (43814WAD7) 74,000.000 QUANTITY 74,897 74,897
    JP MORGAN CHASE & CO VAR % JUN 01 2025 (46647PCH7) 100,000.000 QUANTITY 127,518 127,518
    JPMBB COML MTG SECS TR 3.428% AUG 15 2047 (46642EAZ9) 86,703.130 QUANTITY 89,024 89,024
    JPMBB COML MTG SECS TR 3.774% AUG 15 2047 (46642EAY2) 116,000.000 QUANTITY 122,139 122,139
    LOWE'S COS INC 3.650% APR 05 2029 (548661DR5) 100,000.000 QUANTITY 109,722 109,722
    MORGAN STANLEY 4.000% JULY 23 2025 (6174468C6) 100,000.000 QUANTITY 108,422 108,422
    NEXTERA ENERGY CAPITAL CO 1.875% JAN 15 2027 (65339KBY5) 71,000.000 QUANTITY 71,421 71,421
    SANTANDER DRI ABS 2021 0.59% SEPT 15 2025 (80286XAD6) 125,000.000 QUANTITY 124,728 124,728
    THERMO FISHER SCI 2.000% OCT 15 2031 (883556CL4) 100,000.000 QUANTITY 98,648 98,648
    US BANCORP 1.450% MAY 12 2025 (91159HHZ6) 120,000.000 QUANTITY 120,545 120,545
    USD CANIDIAN PACIFIC 2.45.% DEC 02 2031 (13645RBF0) 90,000.000 QUANTITY 91,725 91,725
    VERIZON COMMUNICATIONS 2.550% MAR 21 2031 (92343VGJ7) 100,000.000 QUANTITY 101,002 101,002
    VERIZON OWN T ABS 2020 0.470% FEB 20 2025 (92290BAA9) 205,000.000 QUANTITY 204,456 204,456
    WELLS FARGO COML MTG TR 3.324% JAN 15 2059 (94989YBA0) 82,213.390 QUANTITY 85,090 85,090
    WORLD OMNI AUTO REC TR 2.500% APR 17 2023 (98161VAC4) 1,887.020 QUANTITY 1,889 1,889

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABORATORIES (ABT) 18,275.000 SHARES 2,572,024 2,572,024
    ADOBE INC. (ADBE) 400.000 SHARES 226,824 226,824
    AGILENT TECHNOLOGIES, INC. (A) 2,000.000 SHARES 319,300 319,300
    ALPHABET INC. (GOOG) 360.000 SHARES 1,041,692 1,041,692
    ALPHABET INC. (GOOGL) 1,047.000 SHARES 3,033,201 3,033,201
    AMERICAN EXPRESS COMPANY (AXP) 1,000.000 SHARES 163,600 163,600
    AMPHENOL CORPORATION (APH) 5,600.000 SHARES 489,777 489,777
    ANALOG DEVICES, INC. (ADI) 1,000.000 SHARES 175,770 175,770
    APPLE INC. (AAPL) 23,400.000 SHARES 4,155,138 4,155,138
    BERKSHIRE HATHAWAY INC. (BRK-A) 3.000 SHARES 1,351,986 1,351,986
    BLACKROCK, INC. (BLK) 78.000 SHARES 71,414 71,414
    BOOZ ALLEN HAMILTON HOLDING CORPORATION (BAH) 1,000.000 SHARES 84,790 84,790
    CARRIER GLOBAL CORPORATION (CARR) 5,515.000 SHARES 299,134 299,134
    CHURCH & DWIGHT CO., INC. (CHD) 2,200.000 SHARES 225,500 225,500
    CISCO SYSTEMS, INC. (CSCO) 8,000.000 SHARES 506,960 506,960
    COLGATE-PALMOLIVE COMPANY (CL) 9,625.000 SHARES 821,398 821,398
    DANAHER CORPORATION (DHR) 770.000 SHARES 253,338 253,338
    ECOLAB INC. (ECL) 1,200.000 SHARES 281,508 281,508
    ELI LILLY AND COMPANY (LLY) 1,400.000 SHARES 386,708 386,708
    FORTIVE CORPORATION (FTV) 622.000 SHARES 47,451 47,451
    HONEYWELL INTERNATIONAL INC. (HON) 400.000 SHARES 83,404 83,404
    IDEX CORPORATION (IEX) 1,000.000 SHARES 236,320 236,320
    JOHNSON & JOHNSON (JNJ) 1,075.000 SHARES 183,900 183,900
    JPMORGAN CHASE & CO. (JPM) 10,653.000 SHARES 1,686,903 1,686,903
    L3HARRIS TECHNOLOGIES, INC. (LHX) 800.000 SHARES 170,592 170,592
    MARKEL CORPORATION (MKL) 300.000 SHARES 370,200 370,200
    MCDONALD'S CORPORATION (MCD) 5,600.000 SHARES 1,501,192 1,501,192
    META PLATFORMS INC (META) 100.000 SHARES 33,635 33,635
    MICROSOFT CORPORATION (MSFT) 1,600.000 SHARES 538,112 538,112
    MONDELEZ INTERNATIONAL, INC. (MDLZ) 12,000.000 SHARES 795,720 795,720
    NESTLE S.A. (NSRGY) 9,785.000 SHARES 1,373,520 1,373,520
    NEXTERA ENERGY, INC. (NEE) 4,200.000 SHARES 392,112 392,112
    OTIS WORLDWIDE CORPORATION (OTIS) 2,757.000 SHARES 240,052 240,052
    PEPSICO, INC. (PEP) 5,794.000 SHARES 1,006,476 1,006,476
    PROGRESSIVE CRP OHIO (PGR) 2,500.000 SHARES 256,625 256,625
    PROLOGIS, INC. (PLD) 1,400.000 SHARES 235,704 235,704
    RAYTHEON TECHNOLOGIES CORPORATION (RTX) 4,000.000 SHARES 344,240 344,240
    SALESFORCE.COM, INC. (CRM) 300.000 SHARES 76,239 76,239
    STARBUCKS CORPORATION (SBUX) 1,450.000 SHARES 169,607 169,607
    STERIS PLC (STE) 1,000.000 SHARES 243,410 243,410
    STRYKER CORPORATION (SYK) 1,000.000 SHARES 267,420 267,420
    TELEFLEX INCORPORATED (TFX) 600.000 SHARES 197,088 197,088
    TEXAS INSTRUMENTS INCORPORATED (TXN) 900.000 SHARES 169,623 169,623
    THE WALT DISNEY COMPANY (DIS) 6,700.000 SHARES 1,037,763 1,037,763
    UNION PACIFIC CORPORATION (UNP) 865.000 SHARES 217,919 217,919
    VISA INC. (V) 10,405.000 SHARES 2,254,868 2,254,868
    WASTE MANAGEMENT, INC. (WM) 800.000 SHARES 133,520 133,520

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    US Government Securities - End of Year Book Value:

    2,223,918
    US Government Securities - End of Year Fair Market Value:

    2,223,918
    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:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    FEDERAL HOME LN MTG CORP 1.500% OCT 01 2035 (3132D56J6) 370,686.740 QUANTITY FMV 372,166 372,166
    FEDERAL HOME LN MTG CORP 2.000% 2036 (3133GDE89) 246,767.199 QUANTITY FMV 253,691 253,691
    FEDERAL HOME LN MTG CORP 2.500% SEP 01 2050 (3133KJ3W0) 201,303.487 QUANTITY FMV 205,701 205,701
    FEDERAL HOME LN MTG CORP 4.000% JUN 01 2045 (31335ACS5) 90,261.015 QUANTITY FMV 99,151 99,151
    FEDERAL HOME LN MTG CORP 4.500% OCT 01 2041 (31335ARE0) 83,790.627 QUANTITY FMV 92,354 92,354
    FED HM LN MTG CO MF 2012 2.355% JUL 25 2022 (3137AVXN2) 118,500.000 QUANTITY FMV 119,450 119,450
    FEDERAL NATL MTG ASSN 2.000% AUG 01 2050 (3140KELG1) 219,573.082 QUANTITY FMV 219,202 219,202
    FEDERAL NATL MTG ASSN 2.500% 2036 (3140XAS60) 171,330.360 QUANTITY FMV 178,213 178,213
    FEDERAL NATL MTG ASSN 2.500% 2050 (3140QGBA4) 171,330.360 QUANTITY FMV 115,385 115,385
    FEDERAL NATL MTG ASSN 2.500% JUN 01 2032 (3140X4H90) 89,250.246 QUANTITY FMV 92,468 92,468
    FEDERAL NATL MTG ASSN 2.500% MAY 01 2050 (3140QDKP8) 126,354.008 QUANTITY FMV 129,912 129,912
    FEDERAL NATL MTG ASSN 3.000% MAR 01 2033 (3140Q8SU0) 208,664.589 QUANTITY FMV 219,524 219,524
    FEDERAL NATL MTG ASSN 3.000% NOV 01 2034 (3140X5DG5) 159,832.719 QUANTITY FMV 167,658 167,658
    FEDERAL NATL MTG ASSN 4.000% SEP 01 2033 (3140J9CT6) 80,550.178 QUANTITY FMV 85,846 85,846
    ISHARES CORE S&P 500 ETF (IVV) 7,700.000 SHARES FMV 3,672,823 3,672,823

    TY 2021 LegalFeesSchedule
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    GENERAL AND ADMINISTRATIVE LEGAL COUNSEL 2,934 0   2,934


    TY 2021 OtherAssetsSchedule
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INTEREST AND DIVIDENDS 44,379 36,615 36,615
    PREPAID FEDERAL EXCISE TAX 9,430 11,386 11,386


    TY 2021 OtherDecreasesSchedule
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Description Amount
    DEFERRED FEDERAL EXCISE TAX EXPENSE 86,281


    TY 2021 OtherExpensesSchedule
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK FEES 201 0   201
    FILING FEES 1,500 0   1,500
    INSURANCE 3,456 0   3,456
    OFFICE AND OTHER EXPENSES 36,065 0   36,065


    TY 2021 OtherIncomeSchedule2
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INVESTMENT INCOME 75 75 75
    GRANT RECOVERY 34,161   34,161


    TY 2021 OtherIncreasesSchedule
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Description Amount
    UNREALIZED GAIN ON INVESTMENTS 6,207,264


    TY 2021 OtherLiabilitiesSchedule
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Description Beginning of Year - Book Value End of Year - Book Value
    DEFERRED FEDERAL EXCISE TAX 181,057 267,338


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT 185,819 185,819   0


    TY 2021 TaxesSchedule
    Name:
    SMALLEY FOUNDATION INC
    EIN:
    13-6225947
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX 13,043 0   0