Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
THE FREEDOM FORUM INC
 
Number and street (or P.O. box number if mail is not delivered to street address)9893 BREWERS CT
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
LAUREL, MD20723
A Employer identification number

54-1604427
B Telephone number (see instructions)

(202) 292-6100
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$730,731,415J 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) 222,297
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 5,094,276 16,097,862 16,097,862
5a Gross rents............ 314,149 314,149 314,149
b Net rental income or (loss) 314,149
6a Net gain or (loss) from sale of assets not on line 10 40,185,300
b Gross sales price for all assets on line 6a 135,540,877
7 Capital gain net income (from Part IV, line 2)... 29,486,410
8 Net short-term capital gain......... 3,435,943
9 Income modifications........... 69,000
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 64,482 125,154 125,154
12 Total. Add lines 1 through 11........ 45,880,504 46,023,575 20,042,108
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 1,649,825 195,378 195,378 1,596,221
14 Other employee salaries and wages...... 3,386,165 46,700 46,700 3,359,754
15 Pension plans, employee benefits....... 767,830 2,364 2,364 3,743,714
16a Legal fees (attach schedule)......... Click to see attachment 532,544 0 0 551,857
b Accounting fees (attach schedule)....... Click to see attachment 224,358 11,218 11,218 224,358
c Other professional fees (attach schedule).... Click to see attachment 14,046,039 2,022,996 2,022,996 1,627,146
17 Interest............... 1,427,827 0 0 1,427,959
18 Taxes (attach schedule) (see instructions)... Click to see attachment 72,276 0 0 234,308
19 Depreciation (attach schedule) and depletion... 129,606 0 0
20 Occupancy.............. 1,745,473 144,824 144,824 2,756,308
21 Travel, conferences, and meetings....... 34,533 0 0 27,989
22 Printing and publications.......... 121,124 0 0 122,483
23 Other expenses (attach schedule)....... Click to see attachment 934,153 0 0 965,345
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 25,071,753 2,423,480 2,423,480 16,637,442
25 Contributions, gifts, grants paid....... 802,543 796,543
26 Total expenses and disbursements. Add lines 24 and 25 25,874,296 2,423,480 2,423,480 17,433,985
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 20,006,208
b Net investment income (if negative, enter -0-) 43,600,095
c Adjusted net income (if negative, enter -0-)... 17,618,628
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............. 1,607,363 1,795,021 1,795,021
2 Savings and temporary cash investments.........      
3 Accounts receivable bullet236,668
Less: allowance for doubtful accounts bullet   21,497 236,668 236,668
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) 98,651,774 Click to see attachment90,009,836 90,009,836
b Investments—corporate stock (attach schedule)....... 209,356,165 Click to see attachment232,348,534 232,348,534
c Investments—corporate bonds (attach schedule)....... 29,287,349 Click to see attachment31,259,207 31,259,207
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 242,002,009 Click to see attachment331,699,000 331,699,000
14 Land, buildings, and equipment: basis bullet7,061,368
Less: accumulated depreciation (attach schedule) bullet4,334,487 2,722,090 2,726,881 2,726,881
15 Other assets (describe bullet) Click to see attachment42,977,326 Click to see attachment40,656,268 Click to see attachment40,656,268
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 626,625,573 730,731,415 730,731,415
Liabilities 17 Accounts payable and accrued expenses.......... 31,112,249 21,670,932
18 Grants payable................. 119,000 69,000
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)...... 50,000,000 50,000,000
22 Other liabilities (describe bullet) Click to see attachment77,821,611 Click to see attachment77,824,856
23 Total liabilities (add lines 17 through 22)......... 159,052,860 149,564,788
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........... 467,572,713 581,166,627
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)..... 467,572,713 581,166,627
30 Total liabilities and net assets/fund balances (see instructions). 626,625,573 730,731,415
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
467,572,713
2
Enter amount from Part I, line 27a .....................
2
20,006,208
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
93,587,706
4
Add lines 1, 2, and 3 ..........................
4
581,166,627
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
581,166,627
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 GOLDMAN SACHS - BROKERAGE P 2020-08-19 2021-08-27
b GOLDMAN SACHS - ADVISORY ST P 2020-06-29 2021-11-11
c GOLDMAN SACHS - ADVISORY P 2020-06-29 2021-11-11
d GOLDMAN SACHS - FIERA P 2020-07-14 2021-11-10
e GOLDMAN SACHS - SOUNDSHORE ST P 2020-03-27 2021-12-31
GOLDMAN SACHS - SOUNDSHORE P 2019-10-04 2021-12-31
GOLDMAN SACHS - DELAWARE ST P 2020-08-11 2021-12-31
GOLDMAN SACHS - DELAWARE P 2011-04-20 2021-12-31
GOLDMAN SACHS - PALISADE ST P 2020-07-01 2021-12-31
GOLDMAN SACHS - PALISADE P 2020-07-14 2021-12-31
GOLDMAN SACHS - DIAMOND HILL ST P 2020-08-11 2021-12-31
GOLDMAN SACHS - DIAMOND HILL P 2020-07-01 2021-12-31
GOLDMAN SACHS - EASTERN SHORE ST P 2020-06-18 2021-12-31
GOLDMAN SACHS - EASTERN SHORE P 2019-02-20 2021-12-31
ALTERNATIVE INVESTMENTS OFF SHORE P 2007-01-31 2021-12-31
GOLDMAN SACHS - MARGIN ACCOUNT P 2020-07-01 2021-12-31
(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 72,164,022   59,781,565 12,382,457
b 6,704,704   6,353,368 351,336
c 1,556,654   1,548,169 8,485
d 1,041,550   609,963 431,587
e 4,934,782   3,591,110 1,343,672
9,105,445   5,014,526 4,090,919
3,756,214   3,476,740 279,474
8,312,277   4,726,420 3,585,857
3,226,383   2,319,801 906,582
1,374,403   740,725 633,678
1,955,546   1,484,557 470,989
1,805,323   1,075,632 729,691
2,907,149   2,823,259 83,890
2,921,048   1,809,742 1,111,306
12,687,859   10,698,890 1,988,969
1,087,518     1,087,518
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       12,382,457
b       351,336
c       8,485
d       431,587
e       1,343,672
      4,090,919
      279,474
      3,585,857
      906,582
      633,678
      470,989
      729,691
      83,890
      1,111,306
      1,988,969
      1,087,518
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 29,486,410
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 3,435,943
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........................... 3 606,041
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- ..... 5 606,041
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 772,790
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 772,790
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 166,749
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet166,749 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)
    bulletAL, AL, AK, CA, CT, DC, FL, GA, IL, KS, KY, LA, ME, MD, MA, MI, MN, MS, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, TN, UT, VA, WA, WV, WI
    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
    Yes
     
    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 addressbulletWWW.FREEDOMFORUM.ORG
    14
    The books are in care ofbulletSHERRY MINEAR Telephone no.bullet (202) 292-6100

    Located atbullet9893 BREWERS CTLAURELMD ZIP+4bullet20723
    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
    Yes
     
    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
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
     
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    BARBARA WALL TRUSTEE
    5.00     		13,500 0 0
    9893 BREWERS CT
    LAUREL,MD20723
    CINDY KEITH CHIEF HUMAN RESOURCE OFFICER/VP
    29.00     		151,233 11,852 11,356
    9893 BREWERS CT
    LAUREL,MD20723
    R DAVID EDELMAN TRUSTEE
    5.00     		15,000 0 0
    9893 BREWERS CT
    LAUREL,MD20723
    JACK KIRSCHENBAUM TRUSTEE
    5.00     		23,500 0 0
    9893 BREWERS CT
    LAUREL,MD20723
    JAMES ABBOTT TRUSTEE
    5.00     		23,500 0 0
    9893 BREWERS CT
    LAUREL,MD20723
    JAN NEUHARTH CHAIR AND CHIEF EXECUTIVE OFFICER
    29.00     		726,191 16,435 26,533
    9893 BREWERS CT
    LAUREL,MD20723
    JOHN LEE IV TRUSTEE
    5.00     		33,500 0 0
    9893 BREWERS CT
    LAUREL,MD20723
    JUDY C WOODRUFF TRUSTEE
    5.00     		12,000 0 0
    9893 BREWERS CT
    LAUREL,MD20723
    MALCOLM R KIRSCHENBAUM TRUSTEE
    10.00     		43,500 0 0
    9893 BREWERS CT
    LAUREL,MD20723
    MICHAEL COLEMAN SECRETARY/TRUSTEE
    10.00     		28,500 0 0
    9893 BREWERS CT
    LAUREL,MD20723
    NICOLE F MANDEVILLE TREASURER/CFO - LEFT 8/31/21
    29.00     		263,623 15,426 51,381
    9893 BREWERS CT
    LAUREL,MD20723
    ORAGE QUARLES III TRUSTEE
    10.00     		38,500 0 0
    9893 BREWERS CT
    LAUREL,MD20723
    PETER S PRICHARD TRUSTEE
    10.00     		41,500 0 0
    9893 BREWERS CT
    LAUREL,MD20723
    SHERRY MINEAR TREASURER,CFO,CHIEF ADMIN. OFFICER
    29.00     		235,778 6,952 20,820
    9893 BREWERS CT
    LAUREL,MD20723
    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
    PAMELA Y GALLOWAY-TABB LEFT 06-30-2 SVP CONFERENCE
    40.00     		141,774 14,453 137,993
    9893 BREWERS CT
    LAUREL,MD20723
    CATHY TROST CHIEF ENGAGEMENT OFF
    40.00     		267,375 7,829 925
    9893 BREWERS CT
    LAUREL,MD20723
    JONATHAN THOMPSON CHIEF OUTREACH OFFIC
    40.00     		175,524 19,089 10,847
    9893 BREWERS CT
    LAUREL,MD20723
    CARRIE CHRISTOFFERSEN VP OF ENGAGEMENT & C
    40.00     		189,341 8,178 703
    9893 BREWERS CT
    LAUREL,MD20723
    PATRICIA RHULE CHIEF CONTENT OFFICE
    40.00     		175,964 11,539 8,337
    9893 BREWERS CT
    LAUREL,MD20723
    Total number of other employees paid over $50,000...................bullet 31
    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
    GS GLOBAL PRIVATE OPPORTUNITIES II OFFSHORE LP INVESTMENT ADVISOR 4,770,989
    200 WEST STREET
    NEW YORK,NY10282
    GOLDMAN SACHS STAR INVESTORS LP INVESTMENT ADVISOR 1,716,481
    200 WEST STREET
    NEW YORK,NY10282
    GOLDMAN SACHS BYDC INVESTORS INVESTMENT ADVISOR 1,184,769
    200 WEST STREET
    NEW YORK,NY10282
    GS CHINA-US INDUSTRIAL COOPERATION PARTNERSHIP INVESTMENT ADVISOR 812,344
    200 WEST STREET
    NEW YORK,NY10282
    GS WEST STREET CAPITAL PARTNERS INVESTMENT ADVISOR 622,866
    302 CENTRAL AVENUE
    WILMETTE,IL60091
    Total number of others receiving over $50,000 for professional services.............bullet43
    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 EXPENDITURES MADE TO ADVANCE AND MAINTAIN THE OPERATIONS AND OPERATIONAL ASSETS OF NEWSEUM, INC. (AN IRC 501 (C)(3)TAX EXEMPT ORGANIZATION) AND NEWSEUM INSITITUTE, INC. (EDUC. INSTITUTION). 17,433,985
    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
    613,154,640
    b
    Average of monthly cash balances.......................
    1b
    2,061,530
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    615,216,170
    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
    615,216,170
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    9,228,243
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    605,987,927
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    30,299,396
    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
     
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
     
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
     
    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  
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........  
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$  
    a Applied to 2020, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2021 distributable amount.....  
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2021.    
    (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  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    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......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		 
    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) .......     		 
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
    2008-05-15
    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
    17,618,628 1,567,269 888,245 544,514 20,618,656
    b 85% (0.85) of line 2a ......... 14,975,834 1,332,179 755,008 462,837 17,525,858
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		17,433,985 25,999,539 16,361,557 42,070,862 101,865,943
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		78,000 60,000 51,000 75,000 264,000
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		17,355,985 25,939,539 16,310,557 41,995,862 101,601,943
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......         0
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		         0
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		20,199,597 14,565,569 12,972,246 14,012,521 61,749,933
    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) ....     		        0
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		        0
    (3) Largest amount of support
    from an exempt organization    		         0
    (4) Gross investment income         0
    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
    INTERNATIONAL WOMEN'S MEDIA FOUNDATION
    1625 K ST NW 1275
    WASHINGTON,DC20006     		  PC 2021 COURAGE IN JOURNALISM AWARDS 10,000
    THE HOUSE STUDENT LEADERSHIP ORGANIZATION
    14000 CROWN COURT 105
    WOODBRIDGE,VA22193     		  PC GENERAL SUPPORT 3,000
    NATIONAL CONSTITUTION CENTER
    525 ARCH STREET
    PHILADELPHIA,PA19106     		  PC GENERAL SUPPORT 25,000
    FREEDOM FORUM INSTITUTE INC
    1207 8TH STREET SOUTH
    NASHVILLE,TN37207     		RELATED ORGANIZATION PC GENERAL SUPPORT 679,081
    NEWSEUM INC
    9893 BREWERS CT
    LAUREL,MD20723     		RELATED ORGANIZATION PC GENERAL SUPPORT 39,462
    BLUEGRASS COMMUNITY & TECHNICAL COLLEGE
    300 NORTH MAIN ST
    VERSAILLES,KY40383     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    BOISE ST UNIVERSITY
    1910 UNIVERSITY DRIVE
    BOISE,ID837251315     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    EAST CAROLINA
    3800 EAST 10TH ST
    GREENVILLE,NC27834     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    HARVARD UNIVERSITY
    1033 MASSACHUSETTS HALL
    CAMBRIDGE,MA02114     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    LOUISIANA STATE UNIVERSITY
    125 THOMAS BOYD HALL
    BATON ROUGE,LA70801     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    MIAMI UNIVERSITY
    310 SOUTH CAMPUS AVE
    OXFORD,OH45056     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    MINNESOTA STATE UNIVERSITY MOORHEAD
    1104 7TH AVE SO
    MOORHEAD,MN56529     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    NORTH DAKOTA STATE COLLEGE OF SCIENCE
    800 6TH ST N
    WAHPETON,ND58074     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    UNIVERSITY OF CALIFORNIA-DAVIS
    FINANCIAL AID OFFICE
    DAVIS,CA95616     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    UNIVERSITY OF FLORIDA
    4202 EAST FOWLER AVENUE
    TAMPA,FL33592     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    UNIVERSITY OF SOUTHERN CALIFORNIA
    UNIVERSITY GARDENS BLDG STE 205
    LOS ANGELES,CA90089     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    YALE UNIVERSITY
    P O BOX 2038
    NEW HAVEN,CT065212038     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    YALE UNIVERSITY
    P O BOX 2038
    NEW HAVEN,CT065212038     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    CASPER COLLEGE
    125 COLLEGE DR
    CASPER,NY82605     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    DRAKE UNIVERSITY
    2507 UNIVERSITY OFFICE
    DES MOINES,IA50047     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    FURMAN UNIVERSITY
    3300 POINSETT HIGHWAY
    GREENVILLE,SC29601     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    HARVARD UNIVERSITY
    1033 MASSACHUSETTS HALL
    CAMBRIDGE,MA02114     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    LOYOLA UNIVERSITY
    7214 ST CHARLES AVE
    NEW ORLEANS,LA70032     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    NORTHERN AZ UNIVERSITY
    PO BOX 4080
    FLAGSTAFF,AZ86001     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    NORTHWESTERN UNIV
    231 WEST 6TH ST
    POWELL,WY82435     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    NORTHWESTERN UNIV
    231 WEST 6TH ST
    POWELL,WY82435     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    NORTHWESTERN UNIV
    231 WEST 6TH ST
    POWELL,WY82435     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    PRINCETON UNIVERSITY
    110 WEST COLLEGE BOX 430
    PRINCETON,NJ08540     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    PRINCETON UNIVERSITY
    110 WEST COLLEGE BOX 430
    PRINCETON,NJ08540     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    PURDUE UNIVERSITY
    100 N UNIVERSITY ST
    WEST LAFAYETTE,IN47906     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    WILLIAM MARSH RICE UNIVERSITY
    6100 MAIN ST
    HOUSTON,TX77001     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    THE SAVANNAH COLLEGE OF ART AND DESIGN
    26 WEST HARRIS ST
    SAVANNAH,GA31302     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    SHIPPENSBURG UNIVERSITY
    1871 OLD MAIN DR
    SHIPPENSBURG,PA17257     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    SPELMAN COLLEGE
    350 SPELMAN LANE SW
    ATLANTA,GA30301     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    TEXAS A&M UNIVERSITY
    STUDENT FINANCIAL AID OFFICE
    COLLEGE STATION,TX77802     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    UNIVERSITY OF ALABAMA
    OFFICE OF STUDENT RECIEVABLES
    TUSCALOOSA,AL35487     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    UNIVERSITY OF ALABAMA
    OFFICE OF STUDENT RECIEVABLES
    TUSCALOOSA,AL35487     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    UNIVERSITY OF CONNECTICUT
    341 MANSFIELD ROAD
    STORRS,CT06268     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    UNIVERSITY OF NC-CHAPEL HILL
    300 PETTIGREW HALL
    CHAPEL HILL,NC27514     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    UNIVERSITY OF NEBRASKA AT OMAHA
    6001 DODGE ST
    OMAHA,NE68007     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    UNIVERSITY OF NEVADA RENO
    STUDENT FINANCIAL AIDE AND
    SCHOLARSHIP
    RENO,NV89523     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    UNIVERSITY OF UTAH
    201 S 1460 EAST
    SALT LAKE CITY,UT84044     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    VASSAR COLLEGE
    124 RAYNMOND AVENUE
    POUGHKEEPSIE,NY12601     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    WESLEYAN UNIVERSITY
    237 HIGH ST
    MIDDLETOWN,CT065212038     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    XAVIER UNIV OF LOUISIANA
    1 DREXEL DRIVE
    NEW ORLEANS,LA70032     		  PC FREE SPIRIT SCHOLARSHIP 1,000
    Total .................................bullet 3a 796,543
    bApproved for future payment
    FREE SPIRIT SCHOLAR RECIPIENTS
    9893 BREWERS CT
    LAUREL,MD20723     		  PC FREE SPIRIT SCHOLARSHIP 46,000
    Total .................................bullet 3b 46,000
    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.....     16 314,149  
    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 40,185,300  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aOTHER INCOME     		    01 64,482  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 45,658,207 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    45,658,207
    (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
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    THE FREEDOM FORUM INC
     
    Employer identification number

    54-1604427
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    THE FREEDOM FORUM INC
          		Employer identification number
    54-1604427
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    COMMUNITY FOUNDATION FOR THE GREATER CAPITAL REGION
     
    2 TOWER PL
     
    ALBANY, NY12203

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    FIDELITY CHARITABLE GIFT FUND
     
    PO BOX 55158
     
    BOSTON, MA022055158

    		$ 7,750


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    GARTNER FAMILY FOUNDATION
     
    100 MARKET STREET UNIT 515
     
    DES MOINES, IA503094766

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    4
    JOHNSON CHRISTIE
    1911 KENBAR COURT
     
    MCLEAN, VA221015322

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
    LORD BETTE BAO
    740 PARK AVENUE
     
    NEW YORK, NY10021

    		$ 6,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    6
    MCKEE WALLWORK AND COMPANY
    701 SPUR ST NE STE B
     
    ALBUQUERQUE, NM87102

    		$ 5,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Name of organization
    THE FREEDOM FORUM INC
          		Employer identification number
    54-1604427
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    7
    NEWS CORPORATION FOUNDATION
     
    1211 AVENUE OF THE AMERICAS
     
    NEW YORK, NY100368701

    		$ 75,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    8
    SCHWAB CHARITABLE FOUNDATION
     
    101 MONTGOMERY STREET
     
    SAN FRANCISCO, CA941044151

    		$ 11,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    THE FREEDOM FORUM INC
          		Employer identification number

    54-1604427
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    THE FREEDOM FORUM INC
          		Employer identification number

    54-1604427
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 224,358 11,218 11,218 224,358

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Name of Bond End of Year Book Value End of Year Fair Market Value
    CORPORATE BONDS 31,259,207 31,259,207

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CORPORATE STOCK 232,348,534 232,348,534

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    US Government Securities - End of Year Book Value:

    90,009,836
    US Government Securities - End of Year Fair Market Value:

    90,009,836
    State & Local Government Securities - End of Year Book Value:


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


    0


    TY 2021 InvestmentsOtherSchedule2
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BROKERAGE: ALTERNATIVE INVESTMENTS/HEDGE FUNDS FMV 331,699,000 331,699,000

    TY 2021 LegalFeesSchedule
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 532,544 0 0 551,857


    TY 2021 OtherAssetsSchedule
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    MISCELLANEOUS ASSETS 2,556,279 2,988,528 2,988,528
    DIVIDENDS RECEIVABLE 78,871 103,776 103,776
    DUE FROM AFFILIATE 36,477,967 33,899,755 33,899,755
    SECURITY DEPOSIT 114,209 114,209 114,209
    CONTRIBUTED LEASE 3,750,000 3,550,000 3,550,000


    TY 2021 OtherExpensesSchedule
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EQUIPMENT EXPENSES 720,954 0 0 695,978
    OFFICE EXPENSE 73,530 0 0 129,297
    MARKETING EXPENSE 139,669 0 0 140,070


    TY 2021 OtherIncomeSchedule2
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ALTERNATIVE INVESTMENT OFF SHORE   60,672 60,672
    OTHER INCOME 64,482 64,482 64,482


    TY 2021 OtherIncreasesSchedule
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Description Amount
    UNREALIZED GAIN ON INVESTMENTS 87,589,011
    CHANGE IN ADDITIONAL PENSION LIABILITY 5,929,695
    GRANT RECOVERY 69,000


    TY 2021 OtherLiabilitiesSchedule
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Description Beginning of Year - Book Value End of Year - Book Value
    DEFERRED FEDERAL EXCISE TAX PAYABLE 949,689 955,557
    MARGIN PAYABLE 76,871,922 76,869,299


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CONSULTING FEES 1,615,375 0 0 1,627,146
    INVESTMENT FEES 12,430,664 2,022,996 2,022,996 0


    TY 2021 TaxesSchedule
    Name:
    THE FREEDOM FORUM INC
    EIN:
    54-1604427
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PERSONAL PROPERTY TAX 4,308 0 0 4,308
    FEDERAL EXCISE AND DEFERRED TAXES 67,968 0 0 230,000