TY 2021 Form 990PF

- TIN:

Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2021

Open to Public Inspection

For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021

Name of foundation
Victor E Clarke Charitable Foundation

Number and street (or P.O. box number if mail is not delivered to street address)55 SE 2nd Ave
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Delray Beach, FL33444

A Employer identification number

47-6777228

B Telephone number (see instructions)

(561) 819-5409

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$120,521,798J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	4,451		4,451
4	Dividends and interest from securities...	679,874		679,874
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		3,089,268
b	Gross sales price for all assets on line 6a 10,359,466
7	Capital gain net income (from Part IV, line 2)...			3,089,268
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	3,773,593		3,773,593
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).........		14,466	0	0
b	Accounting fees (attach schedule).......		18,313	0	0
c	Other professional fees (attach schedule)....		207,823	191,113	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		9,999	0	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............	250		0	0
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		381	0	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	251,232		191,113	0
25	Contributions, gifts, grants paid.......	5,950,000			5,950,000
26	Total expenses and disbursements. Add lines 24 and 25	6,201,232		191,113	5,950,000
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-2,427,639
b	Net investment income (if negative, enter -0-)			3,582,480
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	10,064,090	5,411,557	5,411,557
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........	2,783
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	84,590,939	86,502,413	111,067,112
	c	Investments—corporate bonds (attach schedule).......	2,583,312	2,037,340	2,038,691
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	1,103,429	1,965,839	2,004,423
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	250	15	15
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	98,344,803	95,917,164	120,521,798
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	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	98,344,803	95,917,164
	29	Total net assets or fund balances (see instructions).....	98,344,803	95,917,164
	30	Total liabilities and net assets/fund balances (see instructions).	98,344,803	95,917,164

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

98,344,803

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

-2,427,639

Other increases not included in line 2 (itemize) bullet

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

95,917,164

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

95,917,164

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
1 a	Publicly Traded Securities
b	Capital Gains Dividends	P
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	10,358,442	7,270,198	3,088,244
b	1,024		1,024
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			3,088,244
b			1,024
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	3,089,268
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

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 and enter “N/A" on line 1.
	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	49,796
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	49,796
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	9,983
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	40,017
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	50,000
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	16
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	188
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax188	Refunded	11	0

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

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

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XIV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2021)

Page 5

Part VI-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Yes

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

Hickok Law Firm PA Telephone no. bullet

(561) 819-6219

Located at bullet

55 SE 2nd Ave STE 203Delray BeachFL ZIP+4 bullet

33444

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ........ bullet

16 At any time during calendar year 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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............

1a(4)

(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)

(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)

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2021? .............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2021, did the foundation have any undistributed income (lines 6d

and 6e, Part XII) for tax year(s) beginning before 2021?....................

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

Yes

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

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..

Form 990-PF (2021)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........

Organizations relying on a current notice regarding disaster assistance check here ......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .........................

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
Gary A Galimidi	Trustee 10.00	0	0	0
247 Greco Ave Coral Gables,FL33146	Trustee 10.00	0	0	0
Andrew M Jackson	Trustee 10.00	0	0	0
55 SE 2nd Ave Delray Beach,FL33444	Trustee 10.00	0	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

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
Barrett Asset Management LLC	Brokerage - see also Stmt 5	118,970
90 Park Ave FL 34 New York,NY100161301	Brokerage - see also Stmt 5	118,970
Inverness Counsel LLC	Brokerage - see also Stmt 5	66,442
845 Third Avenue New York,NY10022	Brokerage - see also Stmt 5	66,442

Total number of others receiving over $50,000 for professional services............. bullet

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......................... bullet

Form 990-PF (2021)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

40,267,900

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

8,882,430

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

73,240,037

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

122,390,367

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

122,390,367

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

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

1,835,856

Net value of noncharitable-use assets. Subtract line 4 from line 3. .......

120,554,511

Minimum investment return. Enter 5% (0.05) of line 5................

6,027,726

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.)

Minimum investment return from Part IX, line 6..................

6,027,726

Tax on investment income for 2021 from Part V, line 5.......

49,796

Income tax for 2021. (This does not include the tax from Part V.) ...

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

49,796

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

5,977,930

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

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

5,977,930

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

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

5,977,930

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

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

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.

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					5,977,930
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......	470,933
b From 2017......	461,234
c From 2018......	173,809
d From 2019......	105,415
e From 2020......
f Total of lines 3a through e ........		1,211,391
4Qualifying distributions for 2021 from Part
XI, line 4: $ 5,950,000
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.....					5,950,000
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2021.		27,930			27,930
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		1,183,461
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) ...		443,003
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......		740,458
10 Analysis of line 9:
a Excess from 2017....	461,234
b Excess from 2018....	173,809
c Excess from 2019....	105,415
d Excess from 2020....
e Excess from 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 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2021	(b) 2020	(c) 2019	(d) 2018	(e) Total

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

Andrew M Jackson
55 SE 2nd Ave
Delray Beach,FL33444
(561) 819-5409
andrew@andrewjacksonpa.com

bThe form in which applications should be submitted and information and materials they should include:

No particular form is required.

cAny submission deadlines:

None

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

All recipients must: be exempt under 501(c)(3), directly and actively conduct exempt activities, and have no relationship to the foundation.

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
Baptist Health South Florida Foundation Inc 6855 Red Rd STE 600 Coral Gables,FL33143		PC	For the NICU at Bethesda Hospital East in Boynton Beach, FL	300,000
Baptist Health South Florida Foundation Inc 6855 Red Rd STE 600 Coral Gables,FL33143		PC	For pediatric oncology	1,000,000
Baptist Health South Florida Foundation Inc 6855 Red Rd STE 600 Coral Gables,FL33143		PC	For the organization's women's health program	500,000
ELS For Autism Foundation 18370 Limestone Creek Rd Jupiter,FL33458		PC	For the organization's construction of a new medical facility	500,000
Florida Atlantic University Foundation Inc 777 Glades Rd ADM 295 Boca Raton,FL33431		PC	For the university's Center for Autism and Related Disorders (CARD)	150,000
Lupus Foundation of America Georgia Chapter Inc 1850 Lake Park Dr STE 101 Smyrna,GA30080		PC	For the organization's general purpose of solving the mysteries of Lupus	60,000
Police Officer Assistance Trust 1030 NW 111th Avenue No 232 Miami,FL33172		PC	For the organization's general purposes of assisting officers and their families in times of need	150,000
Society of Mary Inc 698 Beacon Street Boston,MA02115		PC	For the organization's general purposes of engaging in the "work of Mary"	150,000
Special Operations Warrior Foundation 1137 Marbella Plaza Drive Tampa,FL33619		PC	For the organization's scholarship program for children of fallen special operations forces	200,000
Task Force Dagger Foundation PO Box 250 Terra Ceia,FL34250		PC	For the organization's general purpose of providing assistance to wounded, ill, or injured US Special Operations Command members and their families	250,000
University of Miami 1320 South Dixie Hwy Coral Gables,FL33146		PC	For the university's Center for Autism and Related Disorders (CARD)	100,000
University of Miami 1320 South Dixie Hwy Coral Gables,FL33146		PC	For the university's Frost School of Music	1,000,000
University of Miami 1320 South Dixie Hwy Coral Gables,FL33146		PC	For the university's Sylvester Comprehensive Cancer Center	1,500,000
Wintriss Technical Schools Inc DBA The League of Amazing Programmers 12625 High Bluff Dr 113 San Diego,CA92130		PC	For the organization's general purpose of teaching computer coding to young students	90,000
Total ................................. 3a				5,950,000

bApproved for future payment

Total ................................. 3b				0

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			01	4,451
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 ............			01	3,089,268
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		3,773,593	0

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

3,773,593

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part 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)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2021)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2021 AccountingFeesSchedule

Name:

Victor E Clarke Charitable Foundation

EIN:

47-6777228

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Hickok Law Firm, P.A.	18,313	0		0

- TIN:

TY 2021 GeneralExplanationAttachment

Name:

Victor E Clarke Charitable Foundation

EIN:

47-6777228

Identifier	Return Reference	Explanation
	Form 990-PF page 4, Part VI-A, Line 11	The CCH tax software generates Statement 12 of the return and references same for Line 11, Part VI-A, on page 4 of Form 990-PF. The software is generating a diagnostic indicating that said Statement 12 is generated only for the paper return and not for the electronic return. The required information for said Line 11 is as follows:The Foundation owns approximately 32.93% of Gables Engineering, Inc., a Florida corporation, that operates an engineering/ aircraft parts manufacturing business and has one class of stock. It is a controlled entity under IRC s. 512(b)(13) due to attribution via IRC s. 318. The Foundation received the stock as a bequest on August 11, 2020 from the Victor E. Clarke Declaration of Trust, EIN: 46-7152621. The Foundation still held the stock on December 31, 2021. The stock appears near the middle of the page on the first page of Statement 8. The permitted holdings under IRC s. 4943(c)(2) are 0% because disqualified persons own more than 20% of the stock. The Foundation's stock holdings in the controlled entity are not excess business holdings because of the 5-year rule under IRC s. 4943(c)(6)(A). The name, address, and EIN of the controlled entity is as follows:Gables Engineering, Inc.247 Greco AvenueCoral Gables, FL 33146EIN: 59-0561349

- TIN:

TY 2021 InvestmentsCorpBondsSchedule

Name:

Victor E Clarke Charitable Foundation

EIN:

47-6777228

Name of Bond	End of Year Book Value	End of Year Fair Market Value
American Express Co 3.00% due 10-30-2024 50,000 par	49,803	52,361
Ameriprise Finl, IN 3.00% due 3-22-2022 100,000 par	102,322	100,584
Burlington Northn Santa Fe LLC SR Unsecd NT 3.00% due 3-15-2023 140,000 par	141,490	142,803
Cardinal Health 3.50% due 11-15-2024 100,000 par	102,741	105,563
Citigroup Inc Sub NT 4.00% due 8-5-2024 140,000 par	144,662	149,188
CVS Health Corp 3.00% due 8-15-2026 100,000 par	101,238	105,330
CVS Health Corp 3.50% due 7-20-2022 50,000 par	49,850	50,625
Darden Restaurants Inc Unsecured Sr Nt 3.850% due 5-1-2027 100,000 par	109,025	108,318
JPMorgan Chase 2.972% due 1-15-2023 300,000 par	307,825	300,269
Roper Technologies 1.40% due 9-15-2027 200,000 par	205,052	193,653
Wells Fargo & Co 3.069% due 1-24-2023 100,000 par	103,015	100,152
Roper Technologies 3.125% due 11-15-2022 200,000 par	204,054	202,810
Allstate Corp Sub Debentures 5.10% due 1-15-2053 4,000 shares	100,711	105,640
CMS Energy Corp Junior Subordinated Notes 5.875% due 3-1-2079 4,000 shares	109,680	107,600
Duke Energy Corp Junior Sub Debentures 5.625% due 9-15-2078 4,000 shares	100,440	106,880
NextEra En Cap Hldgs Ser N Jr Sub Debentures 5.65% due 3-1-2079 3,850 share	105,432	106,915

- TIN:

TY 2021 InvestmentsCorpStockSchedule

Name:

Victor E Clarke Charitable Foundation

EIN:

47-6777228

Name of Stock	End of Year Book Value	End of Year Fair Market Value
3M Company (MMM) 2,400 shares	454,207	426,312
Abbott Labs (ABT) 2,000 shares	143,130	281,480
AbbVie Inc (ABBV) 3,600 shares	360,916	487,440
Adobe Inc (ADBE) 575 shares	63,628	326,060
Alphabet Inc Class A (GOOGL) 100 shares	291,888	289,704
Alphabet Inc Class C (GOOG) 375 shares	417,357	1,085,096
Amazon.com Inc (AMZN) 400 shares	1,004,270	1,333,736
Apple Inc (AAPL) 5,300 shares	249,003	941,121
Ares Management Corp (ARES) 10,000 shares	440,503	812,700
AT&T Inc Cumulative Preferred 5.000% Perpetual Series A 4,000 shares	100,242	107,200
AT&T Inc Preferred 4.750% Perpetual Series C 10,000 shares	256,300	262,600
Bank Amer Corp Preferred 5.875% Perpetual Series HH 4,000 shares	109,326	105,320
BlackRock Inc (BLK) 550 shares	279,293	503,558
Boston Scientific Corp (BSX) 10,000 shares	389,163	424,800
Chevron Corporation (CVX) 4,800 shares	523,502	563,280
Citigroup Cap XIII Preferred 7.875% 10,000 shares	274,072	279,000
Colgate-Palmolive Co (CL) 3,000 shares	226,505	256,020
Costco Wholesale Co (COST) 1,550 shares	373,136	879,935
Danaher Corp (DHR) 3,100 shares	318,925	1,019,931
Dover Corp (DOV) 2,000 shares	168,341	363,200
Ecolab Inc (ECL) 1,850 shares	273,536	433,992
EnerSys (ENS) 5,600 shares	370,832	442,736
EOG Resources Inc (EOG) 5,000 shares	423,262	444,150
Fidelity Natl Info Services Inc (FIS) 5,000 shares	586,564	545,750
First Republic Bank (FRC) 4,000 shares	385,203	826,040
FleetCor Technologies (FLT) 2,000 shares	534,365	447,680
Gables Engineering Inc 35,775/ 108,634 shares non-public company	61,546,865	73,240,000
Goldman Sachs Group Preferred 5.500% Perpetual Series J 4,000 shares	106,792	105,800
Johnson & Johnson (JNJ) 3,900 shares	522,619	667,173
JPMorgan Chase & Co (JPM) 4,000 shares	432,629	633,400
JPMorgan Chase & Co Preferred 6.000% Perpetual Series EE 3,850 shares	100,413	104,912
McDonald's Corp (MCD) 3,500 shares	709,435	938,245
Merck & Co Inc (MRK) 6,800 shares	521,404	521,152
Microsoft Corporation (MSFT) 4,400 shares	660,245	1,479,808
NextEra Energy Inc (NEE) 4,000 shares	257,335	373,440
Nike Inc (NKE) 6,000 shares	528,455	1,000,020
Nvidia Corp (NVDA) 1,700 shares	277,461	499,987
PayPal Holdings Inc (PYPL) 3,000 shares	244,238	565,740
PepsiCo Inc (PEP) 3,800 shares	442,068	660,098
PNC Finl Services Group Inc (PNC) 1,500 shares	168,929	300,780
Progressive Corp Ohio (PGR) 9,700 shares	668,264	995,705
Roper Technologies Inc (ROP) 1,800 shares	599,304	885,348
Salesforce Inc (CRM) 1,300 shares	252,002	330,369
Starbucks Corp (SBUX) 4,000 shares	236,521	467,880
Stryker Corp (SYK) 2,200 shares	398,957	588,324
Tetra Tech Inc (TTEK) 5,000 shares	291,339	849,000
The Coca-Cola Co (KO) 8,000 shares	430,569	473,680
Thermo Fisher Scientific Inc (TMO) 1,100 shares	250,602	733,964
TJX Companies Inc (TJX) 9,500 shares	496,511	721,240
Trane Technologies PLC (TT) 2,000 shares	220,139	404,060
TransUnion (TRU) 5,800 shares	436,984	687,764
Truist Finl Corp Preferred 5.250% Perpetual Series O 8,000 shares	210,077	222,240
UnitedHealth Group Inc (UNH) 1,900 shares	572,304	954,066
Verisk Analytics Inc (VRSK) 1,600 shares	197,992	365,968
Verizon Communications Inc (VZ) 11,000 shares	644,600	571,560
Visa Inc (V) 2,400 shares	354,272	520,104
Walt Disney Co (DIS) 5,800 shares	705,411	898,362
Wells Fargo & Co New Preferred 6.625% Perpetual Series R 4,000 shares	115,315	111,360
Wells Fargo & Co Preferred 5.85% Perpetual Series Q 4,000 shares	106,495	107,160
Zoetis Inc (ZTS) 4,000 shares	450,224	976,120
American Express Co (AXP) 2,200 shares	299,434	359,920
Catalent Inc (CTLT) 3,000 shares	382,037	384,090
Chipotle Mexican Grill Inc (CMG) 200 shares	332,385	349,650
Floor & Decor Holdings Inc (FND) 2,000 shares	215,675	260,020
Home Depot Inc (HD) 1,400 shares	442,558	581,014
Intel Corp (INTC) 4,000 shares	228,975	206,000
Marvell Technology Inc (MRVL) 5,500 shares	151,380	481,195
Meta Platforms Inc (FB) 1,600 shares	293,213	538,160
Snowflake Inc (SNOW) 800 shares	191,478	271,000
Sysco Corp (SYY) 5,700 shares	449,113	447,735
Zscaler Inc (ZS) 600 shares	192,050	192,798
First Republic Bank Preferred 4.125% Perpetual Series K 6,000 shares	149,876	151,860

- TIN:

TY 2021 InvestmentsOtherSchedule2

Name:

Victor E Clarke Charitable Foundation

EIN:

47-6777228

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
Accrued dividends reported on brokerage year-end tax reports	AT COST	2	2
Ishares 1-3 Year Treasury Bond ETF (SHY) 4,000 shares	AT COST	345,925	342,160
Ishares TIPS Bond ETF (TIP) 5,000 shares	AT COST	635,114	646,000
Ishares Tr Is 1-5 Yr In GR CR CD ETF (IGSB) 11,500 shares	AT COST	631,952	619,620
Purchased bond interest	AT COST	35	35
Crown Castle Intl Co REIT (CCI) 1,900 shares	AT COST	352,811	396,606

- TIN:

TY 2021 LegalFeesSchedule

Name:

Victor E Clarke Charitable Foundation

EIN:

47-6777228

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Shutts & Bowen, LLP	11,814	0		0
Hickok Law Firm, P.A.	2,652	0		0

- TIN:

TY 2021 OtherAssetsSchedule

Name:

Victor E Clarke Charitable Foundation

EIN:

47-6777228

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
Security deposit	250
Truist Bank fee refund receivable		15	15

- TIN:

TY 2021 OtherExpensesSchedule

Name:

Victor E Clarke Charitable Foundation

EIN:

47-6777228

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Postage and mailing	316	0		0
Wire fees	65	0		0

- TIN:

TY 2021 OtherProfessionalFeesSchedule

Name:

Victor E Clarke Charitable Foundation

EIN:

47-6777228

Category	Amount	Net Investment Income
Bank of America Private Bank custody fees	5,701	5,701
Inverness Counsel LLC managing assets held at Bank of America Private Bank	66,442	66,442
Barrett Asset Management LLC managing assets held at Charles Schwab	118,970	118,970
Trugman Valuation Associates valuation of Gables Engineering shares	16,710	0

- TIN:

TY 2021 TaxesSchedule

Name:

Victor E Clarke Charitable Foundation

EIN:

47-6777228

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
IRC 4940 excise tax	9,983	0		0
Florida sales tax on office rent	16	0		0